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Interesting....

NVFC posted their 2018 accounts at the end of December 2019

It shows they had 83 members at that point & assets of £53. That's fifty three pounds. Not a typo

On turnover of £38698 they made a loss of £16,755

A viking helmet brought in £15 & £3 from a bargain bucket

The balance sheet shows £26436 in the loan account.
Not certain but it would appear the club is being funded by those loans

Strangely they also have year end June 19 figures in there as well which show a loss of £3766
 
Balance sheet as of 31/05/18 shows they had just £1,002 in the bank and £4,343 cash on hand.

Creditors owed money amounting to £13,485 (nothing ever changes does it).

£1,589 in payroll liabilities, even though they claimed to have no employees. That's most likely wages owed to players, but could also be PAYE.

For the period 06/06/17 to 31/05/18 they stated £4,161 paid out in salaries/wages and £6000 in rent (£500 per month).

They received £7,489 in donations. Without those, the balance sheet would look even worse.

Net loss for the year (June 2017 - end of May 2018) was -£17,759 (income of £44,418 minus expenses of £62,177).

As Edge pointed out, they appear to have an outstanding loan of £26,436 which is effectively propping them up for the time being.

What a perfect model of sustainability! :rolleyes::eek:
 

Attachments

  • Annual Return and Accounts.pdf
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I’m useless at understanding accounts, but when certain fans of NVFC post onTwitter what I considered to be incorrect information about OUR accounts, they’ve actually got far more to worry about closer to home?
 
I’m useless at understanding accounts, but when certain fans of NVFC post onTwitter what I considered to be incorrect information about OUR accounts, they’ve actually got far more to worry about closer to home?

Absolutely. Mr Blackburn has certainly been left with egg on his face when you compare his comments to the figures of the club he supports this week! :egg
 
Absolutely. Mr Blackburn has certainly been left with egg on his face when you compare his comments to the figures of the club he supports this week! :egg

To be honest, I think we must be missing a chunk of detail here. But i’m confident it will all be straightened out in due course. May I also point out the club is now run exclusively by the fans and the taint of Connett and Rushe is now light years away.
 
Presumably the donations are from the Just Giving appeal.

2017-18 is fairly transparent by NVFC standards in that we can at least see that there was a gaping hole filled by loan + creditors. 2018-19 by comparison consists of a single profit & loss page at the very end (p28). I am curious as to where the detail is on that, as at the moment it makes little sense.
 
2018-19 by comparison consists of a single profit & loss page at the very end (p28). I am curious as to where the detail is on that, as at the moment it makes little sense.
I'm not sure why that's in there at all. almost an over sight?
Perhaps the 2018-19 accounts will be online soon though then they can have a double AGM
 
Yes, it occurred to me too that this might have been a mistake - but 2018-19 are due (7 months from 31/6/19 = 31/1/20) and I would have thought they would have filed both together.
 
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