Mansfield Town Accounts - Yrs Ended 31/12/19-31/12/22

[Jamie]

I would imagine a large part of that debt to other groups is for the stadium.

As others have stated that is in a separate company which originally had its own OC debt used to pay you know who.

The long story short here is that we are still multiple millions in debt and don't own our ground. As we've all been over on here many times that isn't a problem while the debt cost is free/cheap and the creditor doesn't demand it back. If that ever changes we're pretty much screwed.

He can't really ever expect to get much or really any of it back either. Requesting it would make us insolvent (technically we have been for years already), administration would be a no no as he'd lose control and it would only mean a deal was still needed on either a workable very long term repayment or he'd end up with less than a penny on the pound if the club folded as we have naff all assets.

I assume leaving the debt has/had tax benefits either for JR or OC, but the reality of this ever being repaid is not existent. Its either status quo or oblivion for the club. If there aren't any tax benefits then it would be nice to see this written off bit by bit over a period of time.

For clarity I'm not hating or JR at all. No shade intended, just saying it how it is.

[bmthstag]

I would imagine a large part of that debt to other groups is for the stadium.

As others have stated that is in a separate company which originally had its own OC debt used to pay you know who.

The long story short here is that we are still multiple millions in debt and don't own our ground. As we've all been over on here many times that isn't a problem while the debt cost is free/cheap and the creditor doesn't demand it back. If that ever changes we're pretty much screwed.

He can't really ever expect to get much or really any of it back either. Requesting it would make us insolvent (technically we have been for years already), administration would be a no no as he'd lose control and it would only mean a deal was still needed on either a workable very long term repayment or he'd end up with less than a penny on the pound if the club folded as we have naff all assets.

I assume leaving the debt has/had tax benefits either for JR or OC, but the reality of this ever being repaid is not existent. Its either status quo or oblivion for the club. If there aren't any tax benefits then it would be nice to see this written off bit by bit over a period of time.

For clarity I'm not hating or JR at all. No shade intended, just saying it how it is.

Leaving the debt in the Company is sensible. There’s a tacit acknowledgement each year that JR/CR/SH will continue to fund the club as the accounts are prepared under the “going concern” basis.

If all of a sudden one of the players was tbe sold for say £1.5 million, the profit on that player could be offset against previous losses. If the debt had been forgiven then tax on the profit may be payable.

As an aside, I think the club deserve congratulating for keeping the loss down to £300k in a period where many games were not attended and the expenses of travelling (2 coaches, individual rooms for players) increased significantly.

[mousemousemouse]

from a really uneducated prospective in this field, it all seems a bit complicated however it has reminded me John Redford originally stated he was going to hand Field Mill over to the fans so never again would an owner be able to charge the club as before, i hope he’s not forgot this like i had lol

I imagine (and I’m not a smart man) that he’s keeping in his possession until that debt or losses drops right down. I think when he said he, it imagined we’d be on a higher division and doing better financially

[yorkshire stag]

from a really uneducated prospective in this field, it all seems a bit complicated however it has reminded me John Redford originally stated he was going to hand Field Mill over to the fans so never again would an owner be able to charge the club as before, i hope he’s not forgot this like i had lol

I imagine (and I’m not a smart man) that he’s keeping in his possession until that debt or losses drops right down. I think when he said he, it imagined we’d be on a higher division and doing better financially

just wanted to keep reminding him youth that’s all, don’t want him to forget now do we ?

[Tippy Tappy Football]

I attended the club's AGM just before Christmas which considered the accounts for the 4 calendar years from 2018-2021. The club made a loss in all four years with a big loss of £322,593 for the covid year ending 31st December 2020. This loss was reduced to £45,774 for the year ending 31st December 2021. This gives me hope that the club may have made a profit for the year ending 31st December 2022 which included the play offs and record season ticket sales. This would only be the second time the club has made a profit since 2004. We made a small profit of £6,403 in 2016-2017.

Year End (Since return to Football League)
30/06/14 £721,146 Loss
30/06/15 £74,510 Loss
30/06/16 £10,077 Loss
30/06/17 £6,403 Profit
31/12/17 £132,785 Loss (6 Months)
31/12/18 £116,281 Loss
31/12/19 £50,904 Loss
31/12/20 £322,593 Loss
31/12/21 £45,774 Loss

I will do a report on the accounts for the years ended 31st December 2020 and 2021.

A report on the accounts for the years ended 31st December 2018 and 2019 is at the top of this thread.

Thanks to John and Carolyn Radford for their great financial of the football club.

A big shout out also to Steve Hymas and Mark Burton.

[Martin Shaw]

Annual meeting reveals how Mansfield Town survived and then thrived post-Covid
chad.co.uk, By John Lomas, 3rd Jan 2023

Mansfield Town survived the Covid years and then thrived thanks to the backing of owner John Radford followed by the increased attendances since fans were allowed back in.

Stags' success story was revealed at the club's AGM, which was held last week to reveal the club's accounts up to 31st December 2021 after a two year pause and included 2020, when the season was curtailed early due to the pandemic outbreak, and 2021 when football was played behind closed doors.

Company accountant Jim Beachill reviewed the accounts which indicated that in 2020 the club suffered a significant fall in earnings and a loss in excess of £320,000 in that year.

However, Stags have not only survived but emerged even stronger through the support of owner John Radford, and the One Call Group of companies in Doncaster.

read more at https://www.chad.co.uk/sport/football/a ... id-3972848

[yorkshire stag]

from a really uneducated prospective in this field, it all seems a bit complicated however it has reminded me John Redford originally stated he was going to hand Field Mill over to the fans so never again would an owner be able to charge the club as before, i hope he’s not forgot this like i had lol

I imagine (and I’m not a smart man) that he’s keeping in his possession until that debt or losses drops right down. I think when he said he, it imagined we’d be on a higher division and doing better financially

just wanted to keep reminding him youth that’s all, don’t want him to forget now do we ?

so when are the fans going to get Field Mill signed over to us as agreed by the big man Darren any movement on that ?

[bobbystagsfan]

from a really uneducated prospective in this field, it all seems a bit complicated however it has reminded me John Redford originally stated he was going to hand Field Mill over to the fans so never again would an owner be able to charge the club as before, i hope he’s not forgot this like i had lol

I imagine (and I’m not a smart man) that he’s keeping in his possession until that debt or losses drops right down. I think when he said he, it imagined we’d be on a higher division and doing better financially

just wanted to keep reminding him youth that’s all, don’t want him to forget now do we ?

so when are the fans going to get Field Mill signed over to us as agreed by the big man Darren any movement on that ?

Didn't you get your letter last week ?

[yorkshire stag]

from a really uneducated prospective in this field, it all seems a bit complicated however it has reminded me John Redford originally stated he was going to hand Field Mill over to the fans so never again would an owner be able to charge the club as before, i hope he’s not forgot this like i had lol

I imagine (and I’m not a smart man) that he’s keeping in his possession until that debt or losses drops right down. I think when he said he, it imagined we’d be on a higher division and doing better financially

just wanted to keep reminding him youth that’s all, don’t want him to forget now do we ?

so when are the fans going to get Field Mill signed over to us as agreed by the big man Darren any movement on that ?

Didn't you get your letter last week ?

John Radford stated he would do it, so i await him to step up to his word which i have no reason to believe he won’t !

this will allow the club never to fall into the hands of a sinister owner like Voldemort again, like every other Stags fan i hope

[Amber Andy]

JR will do it when the moaning stops

[yorkshire stag]

Does the question every get asked Darren?

he stated once all the money is paid to Hasloan, he would transfer ownership to the fans !!

be nice to put this to bed

[gazza1988]

Maybe certain criteria wasn't met?

Radford also said he'd like to be in the championship within 5 years. He built the training facilities and partnered with the college (brooksby) to try and get some good youngsters through to sell on.

I don't think JR is stepping down any time soon so I'm not too concerned.

Maybe he thought the club would be posting profits by now and he could draw a salary to repay the money spent on the stadium.

[Tippy Tappy Football]

MANSFIELD TOWN ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2020

This is a summary of the Mansfield Town accounts for the year ended 31st December 2020 which were approved at the club’s Annual General Meeting on Thursday 22nd December 2022. These accounts cover the second half of the covid shortened 2019-2020 season when the Stags finished a disappointing 21st under John Dempster and Graham Coughlan; and the first half of the 2020-2021 season under Graham Coughlan and Nigel Clough when the Stags eventually finished 16th after failing to win any of the first eleven games.

The headlines are that the football club’s finances were significantly affected by covid and the lockdown. The club made a large loss of £322,593 in 2020 compared to a loss of £50,904 for 2019.


TURNOVER (INCOME)

The club’s total income fell from £5,706,953 in 2019 to £3,074,465. This was a reduction of £2,632,488.

Match Day Income understandably fell dramatically from £1,268,368 in 2019 to £469,103. A reduction of around £800,000. There were only 5 home games played in front of a crowd. The rest were behind closed doors. The majority of this income must have come from season ticket sales.

Football and Media Income (which includes the EFL Distributions and Premier League Solidarity Payments) increased from £1,357,226 in 2019 to £1,556,496.

Commercial Income fell from £3,081,359 in 2019 to £1,048,886.


EXPENDITURE

Total Wages and Salaries including national insurance contributions and pension costs fell from £5,083,199 in 2019 to £3,143,956.

The average number of staff including directors was 46.

Staff whose costs were recharged to group and connected companies were 203 compared to 185 in 2019.

Player Additions (Transfer Fees) amounted to £26,250 compared to £293,750 in 2019. Players signed in 2020 included Jordan Bowery and Rollin Menayese who were signed for undisclosed fees.

Player Disposals were £291,985. Players sold in 2020 included CJ Hamilton and Danny Rose.

Player Agent Fees fell from £133,840 in 2019 to £56,903.

Player medical costs were £92,712 compared to £93,446 in 2019.

Management Charges were £36,050

The rent paid for using Field Mill was £47,210.

Academy Funding was £30,000.

Energy Bills were reduced from £66,324 in 2019 to £27,010.

Travelling Costs were reduced from £96,326 in 2019 to £69,335.

Repairs and Maintenance were reduced from £362,209 in 2019 to £88,146

Other expenses were:
Legal and Professional £31,091 (2019: £13,907)
Motor Expenses £18,693 (2019: £45,915)
Trade Subscriptions £12,664
Rates £7,220
Telephone and Fax £6,981
Water £6,704
Bank Charges £5,685
Cleaning £4,704
Charity Donations £3,000
Printing and Stationery £2,883
Accountancy Fees £2,820
Entertainment £625


LOANS OWED TO ONE CALL AND OTHER GROUP COMPANIES

The loans owed to One Call and other group companies fell by around £800,000 from £4,523,361 in 2019 to £3,723,391.

The football club was owed £903,989 from companies under common control and £31,203 from fellow group companies.

The football club made sales of £891,250 to fellow group companies.

Other creditors amounted to £782,182. This includes around £465,546 owed to Andy Saunders. The last figure given for this loan was in the 2010 accounts.


RSCPBR (Ultimate Parent Company)
The ultimate parent company of Mansfield Town is RSCPBR Limited which operates a diverse range of businesses including the football club, a claims handling company, vehicle credit hire, vehicle recovery and rescue services, vehicle damage repair and solar energy.

The sole director of RSCPBR is John Radford and he is the sole shareholder


MANSFIELD 1861 LIMITED (Immediate Parent Company)
RSCPBR Limited own all the 100 issued shares in Mansfield 1861 Limited (formerly known as Amber 12 Limited). The directors of Mansfield 1861 Limited are John Radford and Carolyn Radford.

Mansfield 1861 Limited own the majority shareholding in Mansfield Town Football Club Limited and the directors of Mansfield Town are John Radford, Carolyn Radford, David Sharpe, Steve Hymas, Mark Burton and Alexandra Sheriff.


I will do the report on the 2021 accounts tonight.

Darren
Stags Fans United

[Rob]

Thanks Darren. In terms of wages the report says that the average number of employees was 46 (inc directors who I assume don't take a salary). It also states that the costs of 18 more staff than in the previous year were charged to other companies in the group. Does this mean that the £3.1m figure is pretty much the players? I'm obviously not an accountant

[Tippy Tappy Football]

Total Wages and Staff Salaries will include the players, the manager and his backroom staff, club admin, club shop and ticket office (Diane and her team), club media (Mark Stevenson and his team), commercial manager (Paul Nyland at the time) and the ground staff (Mez and his team).

The directors have not normally received a salary* but there was no statement in the accounts to that effect as normal. The club have new auditors , PKF Smith Cooper in Derby, and they have used a slightly different template to present the accounts. They are more expensive as you will see in the 2021 accounts.

There are management charges of £36,050 and this could be for Paul and Tina Broughton's services. They may have been paid by One Call and then charged to the football club.

* = apart from Hasloan!!

[Dan]

The feedback from the club was that the players that David Flitcroft signed were more expensive in wages than those signed by Steve Evans e.g. £5,000 per week for Tyler Walker. David Flitcroft also wanted JR to spend more money. There is no doubt that he had a bigger player budget than Steve Evans who was the first manager to benefit from JR loosening the purse strings.

Nigel Clough has a lot of experience of having a small playing budget at Burton in League 1 and the Championship so he should be able to ensure that JR and the club get good value for money.

[PaulG]

Dan, in the light of the above figures, I refer you to your post yesterday on the press conference topic. Our income appears, naturally in the circumstances, to have plummeted, while, presumably, salaries have stayed roughly the same. I, like everyone else on here, have no idea what out transfer budget is, but for posters on here to suggest that it is necessarily a top 7 or even top 3 budget just because they make assumptions about JR's wealth is surely unrealistic. The club's income has dropped by the better part of three million, albeit temporarily (we hope). To be splashing the cash in those circumstances would be rash, to say the least! And, unlike some, I wouldn't expect NC to use lack of funds as an excuse; his whole career has been based on make do and mend, which may be one of the reasons he was appointed in the first place.

[zod]

The club's income has dropped by the better part of three million, albeit temporarily (we hope). To be splashing the cash in those circumstances would be rash, to say the least! And, unlike some, I wouldn't expect NC to use lack of funds as an excuse; his whole career has been based on make do and mend, which may be one of the reasons he was appointed in the first place.

You do know the accounts are from two years ago and we now have record season ticket sales?

[MTFCMusings]

At the end of 2019 we were the biggest wage payers in L2. I think we’d be around 4th/5th now, but because high spenders have increased rather than any reduction of our budget.

[Marky Mark]

Dan, in the light of the above figures, I refer you to your post yesterday on the press conference topic. Our income appears, naturally in the circumstances, to have plummeted, while, presumably, salaries have stayed roughly the same. I, like everyone else on here, have no idea what out transfer budget is, but for posters on here to suggest that it is necessarily a top 7 or even top 3 budget just because they make assumptions about JR's wealth is surely unrealistic. The club's income has dropped by the better part of three million, albeit temporarily (we hope). To be splashing the cash in those circumstances would be rash, to say the least! And, unlike some, I wouldn't expect NC to use lack of funds as an excuse; his whole career has been based on make do and mend, which may be one of the reasons he was appointed in the first place.

Always sort of taken this view as well. When JR initially bought the club he will have known that it will have been a big initial outlay with lots of seasonal investment over time, but ultimately moving to a more self-sustaining model where he will probably cover any losses that arise, plus a bit of benefactor investment on top of budget where needed - but one where the club ultimately generates it's own cash - and that's probably where we are now, and why we have an external CEO running the day to day.

I imagine he will be called in to put his hand in his pocket if anything comes up over and above the budget, or if there is any structural capital investment needed - but I don't think he's going to be throwing large wads of cash into a furnace anymore on the playing budget if the club is in a position to contribute a large sum to to it's own existence. This is likely, as you say, also to have been a large part of why Clough was attractive to JR, in that he's always been able to make do and mend and generate cash himself.

[Conker]

At the end of 2019 we were the biggest wage payers in L2. I think we’d be around 4th/5th now, but because high spenders have increased rather than any reduction of our budget.

I highly doubt we spend the same now.

[MTFCMusings]

At the end of 2019 we were the biggest wage payers in L2. I think we’d be around 4th/5th now, but because high spenders have increased rather than any reduction of our budget.

I highly doubt we spend the same now.

Admittedly that will have been bloated by Walker and Grant, but them aside.

[part time pete]

The reason Nige likes a small squad, he likes to sign quality on good wages rather than quantity on less.

[MTFCMusings]

The reason Nige likes a small squad, he likes to sign quality on good wages rather than quantity on less.

Awaiting the replies to this one

[Captain Cunno]

The reason Nige likes a small squad, he likes to sign quality on good wages rather than quantity on less.

Grabs popcorn.......