| QPR Companies House on 23:52 - Jul 18 with 1665 views | isawqpratwcity |
| QPR Companies House on 13:52 - Jul 18 by qprd |
The opposite is true.
Take a look at QPR's P&L from a few years ago:
https://document-api-images-prod.s3.eu-west-1.amazonaws.com/docs/8qSVgoTvL6-1XZW
In particular, look at page 8. In the P&L, there is 60m of income characterized as "Exceptional item". Because of this exceptional item, QPR's operating loss was 65m, but their actual loss was only 10m.
Next to the exceptional item line item on page, there is a footnote 3 which explains the exceptional item. Footnote 3 says verbatim "The exceptional item in the prior year is historic loans that the shareholders agreed to write off".
So yes, the opposite is true. Writeoffs get reflected as income on the income statement and not loss. For this reason, they don't count towards FFP because they create a workaround for owners to skirt FFP rules.
Technically, there is a slightly different accounting treatment for pure write offs vs capitalization, but no one cares so ill leave it at that.... |
As I said, the link didn't work, so I cannot see anything you refer to. Does it concern 2012-13?
The amounts appear to correspond to figures referred to in this BBC article on FFP. QPR's 2012-13 season accounts figure prominently. See section 10.
https://www.bbc.com/sport/football/29361839 |  |
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| QPR Companies House on 04:45 - Jul 19 with 1606 views | qprd |
| QPR Companies House on 23:52 - Jul 18 by isawqpratwcity |
As I said, the link didn't work, so I cannot see anything you refer to. Does it concern 2012-13?
The amounts appear to correspond to figures referred to in this BBC article on FFP. QPR's 2012-13 season accounts figure prominently. See section 10.
https://www.bbc.com/sport/football/29361839 |
Refer to the filing made on 11 March 2015.
Look at page 8 (profit + loss statement). Look at "Exceptional item" and then look at footnote 3.
As you'll notice, a shareholder write-off is treated as a gain and not a loss. So if it were to count towards FFP, it would provide an avenue for owners to reduce their losses (and not the other way around as you've been suggesting). [Post edited 19 Jul 2018 4:53]
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| QPR Companies House on 08:32 - Jul 19 with 1519 views | isawqpratwcity |
| QPR Companies House on 04:45 - Jul 19 by qprd |
Refer to the filing made on 11 March 2015.
Look at page 8 (profit + loss statement). Look at "Exceptional item" and then look at footnote 3.
As you'll notice, a shareholder write-off is treated as a gain and not a loss. So if it were to count towards FFP, it would provide an avenue for owners to reduce their losses (and not the other way around as you've been suggesting). [Post edited 19 Jul 2018 4:53]
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1. As said twice before, your link does not work. When I click on it, it opens to this:
"AccessDeniedRequest has expired602018-07-18T07:55:42Z2018-07-19T04:34:56Z55FEAEDC6F787173Xbr4mudVxdFzO7CD2sQ+WPCS7cIz7UmYRKv/1/18IcflOKj+c4AfPMNhgaiIH27+tcX3cU1tpHg="
If you want to refer to details, post an accessible link.
2. Are talking about 2012-13 (this question has also been asked twice)? If so, is the BBC is wrong in suggesting that we are liable for FFP?
3. These 'shareholder write-offs/loans repaid as shares' transactions do count for FFP. Describe it in any way you like, FFP is about the gap between what a club earns and what it spends, and it isn't blind to owner write-offs. | |
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| QPR Companies House on 13:13 - Jul 19 with 1426 views | qprd |
| QPR Companies House on 08:32 - Jul 19 by isawqpratwcity |
1. As said twice before, your link does not work. When I click on it, it opens to this:
"AccessDeniedRequest has expired602018-07-18T07:55:42Z2018-07-19T04:34:56Z55FEAEDC6F787173Xbr4mudVxdFzO7CD2sQ+WPCS7cIz7UmYRKv/1/18IcflOKj+c4AfPMNhgaiIH27+tcX3cU1tpHg="
If you want to refer to details, post an accessible link.
2. Are talking about 2012-13 (this question has also been asked twice)? If so, is the BBC is wrong in suggesting that we are liable for FFP?
3. These 'shareholder write-offs/loans repaid as shares' transactions do count for FFP. Describe it in any way you like, FFP is about the gap between what a club earns and what it spends, and it isn't blind to owner write-offs. |
I'm not sure why the link doesn't work for you. I am not your IT guy.
Go to the companies house website and look for QPR filings. Look at the filing they did on 11 March 2015 presenting accounts for the period up to May 31, 2014. Then read what I wrote a few posts above.
If you are unable to figure out how to access a filing on companies house when someone provides you the exact date that it was filed, you don't have the sufficient level of experience with these documents to comment on them in a meaningful or intelligent manner. Which explains why you think a shareholder write-off is a loss and not a gain on your income statement.
The BBC isn't wrong in their article. You're confusing concepts though. The article doesn't say anything about shareholder loan write-offs and their effect on FFP. You're just referencing a random BBC article that has nothing to do with what youre talking about. | | | |
| QPR Companies House on 13:19 - Jul 19 with 1419 views | TGRRRSSS |
| QPR Companies House on 15:22 - Jul 18 by queensparker |
I see his latest fantasy is that he's best mates with Tommy Robinson. What a step up from Paladini |
Are you sure
He always claimed to be hard left type - and "very liberal" might've changed down the years but was bit Obama supporter back in the day (circa 2008)
I've often assumed he's one of those draped in EU flags waving around Parliament square etc constantly - on the point of which when do these people work... [Post edited 19 Jul 2018 13:19]
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| QPR Companies House on 14:12 - Jul 19 with 1379 views | 1JD |
| QPR Companies House on 08:20 - Jul 18 by isawqpratwcity |
"Its neither good nor bad."
Don't be such an ingrate: it's bloody marvellous for the club! An owner 'lends' the club cash and all he gets back are shares? As Hunter pointed out, the club is worth what it is worth, so increasing the number of shares just makes each share worth less. Between the owners, they are just giving the club money. (Of course, this all counts as a loss for FFP.)
The high interest rate that was the subject of much complaint is, again, only a cost to the other owners, not the club. Lee Hoos knows he can't find a better deal. [Post edited 18 Jul 2018 8:38]
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qprd, if writing off 22m of debt for nothing in return, is “neither good nor bad”, you just lost any remaining financial credibility you may have had.
To put this into business context, we just received a 22m cash injection from the owners. Our total debt, which I think was circa 50m on the balance sheet, was just nearly halved, putting us in a much healthier financial position.
And, coupled with forward-looking P&L projections, puts us in an increasingly attractive position for outside investment. Which may or may not be the plan. [Post edited 19 Jul 2018 14:14]
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| QPR Companies House on 14:20 - Jul 19 with 1367 views | robith |
No skin in this fighgt, just howling with laughter at "you just lost any remaining financial credibility you may have had" about someone on a QPR fan site |  | | |
| QPR Companies House on 03:23 - Jul 20 with 1262 views | isawqpratwcity |
| QPR Companies House on 14:20 - Jul 19 by robith |
No skin in this fighgt, just howling with laughter at "you just lost any remaining financial credibility you may have had" about someone on a QPR fan site |
No, it's a fair comment. qprd has gained accounting kudos here in the past but he's digging a big hole here on the wrong side of this FFP argument.
Suck it up, d. | |
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