Clubs’ accounts

[TerracingTomas]

Latest accounts for the Football Club now available

https://find-and-update.company-informa ... ng-history

See paragraph 12 The club paid our wonderful landlord 90k in rent up from 41k the previous year

[YeOldeHamiltonian]

£90k to the Landlord which would have purchased 2 players to enable us to avoid relegation.

[OnlyHamilton]

Regarding the rent.

McGowan could give us the 50 year lease but within this he would be entitled to review the lease pricing every 3 years meaning he could increase price year after year nearly.

The way in which he portrayed the wonderful 50 year lease in his sympathetic social media video was that of a great gesture but in truth it’s just another way for him to suck any money he can

[porcupine]

Probably worth mentioning to all who may have less experience in reading balance sheets.

The football club was technically insolvent by some £267251 @ 30 June 2022 and depended on other sources of income to keep it afloat as a going concern. i.e. Liabilities exceeded our Assets.

The June 2023 accounts which we won't see for a further 12 months might show an even worse picture. That's not including any further rent increases imposed by our landlords.

Not good reading at all.

[TerracingTomas]

And yet the Stadium Company for more or less the same period is in profit. Loading all the debt on the club before selling?? Surely not?

[Nike01]

Like most things just now, it looks iffy - not as in illegal, but rather publicly saying one thing, but in so doing trying to hide another. Eh. Rent doubled? And a new Management Charge to the Stadium Company of circa. £150,000? A nice return. It’s the lack of transparency that’s gobsmacking. There’ll be more. This’ll be the tip of the iceberg. It’s the things we don’t know about that should worry us most.

[Nike01]

Is also add, if you go into Companies House Beta website, you’ll see that new Articles (rules) have recently been adopted to accommodate a different class of shareholder, which tends to suggest someone might be retaining an interest of sorts.

[TerracingTomas]

The next time Mcgoofey finds a tame journalist to spout his social conscience nonsense remember his interview from a few years ago that even the New York Times printed. “I have no interest in football I am interested in the BUSINESS of football” and his primary business is of course the stadium. As I’ve highlighted from the various accounts he is now charging both his personal charity and the Accies Community Trust rent (8k)for office space at OUR stadium. He has doubled the rent the club pay for their lease on OUR stadium from 41k to 90k and he has had the bare faced cheek for his stadium company to take 150k out of the football club for management consultancy fees. And that’s not the most recent accounts. How much has he taken out of the club during 22/23? Where for example is the Ferguson development fee from his move to Bologna at least 200k. How much more debt will Mcgoofey have accrued to the club to keep his stadium company afloat? Serif I really hope you know what u are doing?

[niallfraser8]

Really gentlemen?

Everybody knows that it’s Colin that generates every penny as you can see in those accounts - he turned over £2million pound although circa 70k of that was season ticket sales - are you starting to see the problem boys? A 2million gulf to fill.

He pays every player and every creditor prompt and on time and has done since he arrived at the football club. The man’s company bought the stadium that we play in- haven’t we gotten used to that over 20 years he totally manages the whole show. Isn’t this about football and not property? Nobody has been able to tell me why owning the stadium translates to wins but on that issue can anyone name one penniless football club that was able to purchase a £5m stadium?

He has every directors confidence. The £870,000 losses is not people sitting waiting to be paid BIG difference. I know Colin McGowan, when he hands that club over there will not be 1 bit of tax owed or 1 creditor sitting unpaid (with the exception of Scotgov) and he will end up falling out with me if he reads this but I’ll tell you guys anyway - he very cleverly borrowed over £1m from scotgov interest free spread it over 20 years to save this club from disaster during covid, I believe Colin was the only director that didn’t sell season books during the first bad year of covid as he suspected there would be no football - that is real integrity right there.

Not to mention brand new floodlight at a significant costs as well as creating a brand new gymnasium for the players but you folk are clearly older wiser and more clever than me - so I’m sure you all know best that the club will flourish without Colin and it can finally escape his grasp. Well at least to a certain extent as he will still be the landlord come sun or shine.

Anyways this is a short reply I’ll reply in more detail later on the good news is that the next post will likely be the last - I’m tired of circular arguments

[smc4761]

Niall seriously, you used the words "Integrity and McGowan" in the same sentence. Now we know you have been on the herbal cigarettes.

Colin McGowan is only interested in Colin McGowan and how much he can screw out of the club eg rent doubling, and being a tad creative with his accounting

[porcupine]

In your reply, Niall, it would be good to know the following

1. Are you willing to answer the questions that were posted on another thread about three companies which involve, or have involved, a Niall Fraser, and whose registered addresses were the Football Stadium at Hamilton?
2. In whose name did your pal Colin borrow the £1M from Scotgov? Is it the Football Club or is it HAFC Stadium Limited?

Reason for asking this is to hear from where the £50K p.a. repayments to Scotgov are coming from. Somehow I think it will be the Football Club that will have been burdened with this debt, and the onerous repayments, but there again whacking an ever increasing Management Charge against the Football Club is one way of ensuring insolvency of a club which has no further use for a stadium that is owned by another entity. Thereafter the other entity sells the land to builders for millions.

Or am I being too cynical??

[niallfraser8]

Look gentleman l have studied the club accounts going back years and so has TT, he knows the wages that Mcgowan has paid players alone has been more than 12x the season ticket revenue year in year out never mind him paying staff, youth academy wages and club running costs. Accies support was decimated long before Mcgowan ever got here. You all know that is a fact why no one acknowledges this baffles me. l was told Colin suspects that TT has his own personal agenda whatever that is ...l was told that he thinks TT has poisoned most of you gentlemen over time. The truth is when I worked with Colin it was clear he gave his all for our club and his charities. Guiding the club into the best times Accies have ever known bringing in millions. Nobody cares to acknowledge all the new young supporters that came from Colin’s school talks, over 100k watched his 9 minute video with the SPL even reposting it. Does that not tell you anything boys...honestly this web site amuses me in fact do you not see that if no one had bought a season book it wouldn’t have not have made a single difference to Colin l now think I understand what l was told by a few people, fellow supporters that said its a handful of toxic supporters that are the real problem at our club, their unbelievable expectations and sense of entitlement is jaw-dropping, this handful of delusional toxic supporters with loud social media voices give little support to our club - mostly cowards hiding behind keyboards, hiding their true identities normally very sad and unhappy individuals that only feel alive when attacking somebody or something, devoid of common decency. These same toxic voices were there when Accies were in the premiership and was told that they are relatively insignificant to the running of the business although they damage the Accies brand. Colin is certain the vast majority of supporters are really decent people that truly love their club although most realise Accies supporters are a very small part of the community as a whole. When the club is sold l am sure Colin will concentrate on his bigger picture of running his property company looking after his tenants of which we are one. We have always been a tenant, always will be a tenant because where is the 5 million pound to buy our own stadium going to come from? Thank god Colin was there or a developer could have bought it and built flats.

We all know about Colin’s charity work, that it’s his real passion and that annoys a few people on acciesworld, how dare he help people “we are a football club not a charity!!” Although the club, our football club receives revenue from these charities is quite significant revenue ask any new owners to disclose exactly how much revenue the charities give hamilton accies football club and you will be shocked, it may change some opinions although I am certain you won't ask because it won't fit the acciesworld narrative. Anyway with Colin selling the club l expect he will have more time on his hands which our community can only benefit from. My biggest worry is that his money raising ability was quite exceptional although l accept no one on this site would acknowledge that either and l wonder why not? It’s that word “narrative” again. Anyway hopefully we will get a top commercial man that will match or even better what Colin normally brought in, that will let us enjoy a season of winning some games in fact l may even stick a wager on this season to win this division.
I'll leave you all to continue to be the balanced voice of the accies with your glorious leader Terracing Thomas a man of the people, a man of integrity, a proud well respected man. Who ever TT is Accies are lucky to have him, its people like TT that will play a major role in rebuilding Accies once Mcgowan is away. Maybe TT will be the chairman one day? l am told he already had a bit of success with selling the program in the 70s. Goodbye fellow supporters hope you all buy your season books.
Please do not respond to this post because I am seeking help from acciesworld anonymous... you will only hear from me if l have relapsed.

[porcupine]

AS Manx Accie has said on another thread, only CMcG and his accountant will know the extent of all the financial transactions going through the 'snake' of companies involved, be it Hamilton Academical Football Club Limited, HAFC Stadium Ltd, Deeka Limited and Edencrest Limited. There is never enough detail to show specific transactions to confirm or deny much more than that. The last set of the Football Club's accounts (2022) show a far worsening financial position and a capital deficit. That is indisputable.

Nothing more to be said by me until the 2023 accounts are available in a year's time.

As to Niall, I am seeking help from acciesworld anonymous, other help providers are available, some of whom advertise at NDP.

[Beckford]

Wow long posts by NF that simply repeat the same content as the previous ones. Looks as if its only a circular argument as there are no responses to the points raised. Ignoring the difficult questions wont make them go away.

To claim there is a toxic handfull of posters here that have a personal grudge against McGowan is laughable. For one, i have no idea who most of the posters on this board are and certainly never colluded with them. As stated, i stopped posting here years ago and only started posting again recently due to the uncertain times the club are being dragged into.

Still no conformation of any change of ownership, what it will mean, how it will work.... nothing changes. Sorry Niall but no transparency no trust. Its that simple. Why make promises about announcements then just ignore them, fans are left hanging again and suspicion continues to grow. Great way to generate season ticket sales. Nothing about the kit launch we were also promised.

There are no rediculous expectations btw, deliver what is promised, make an effort to build a relationship and connection with the support and we will get behind who ever the owner maybe and whatever league we are in.

The divide was created by the board in its treatment of the fans, not an agenda organised by a forum.

[EarnockAccie]

Sychophantic shite:

Look gentleman l have studied the club accounts going back years and so has TT, he knows the wages that Mcgowan has paid players alone has been more than 12x the season ticket revenue year in year out never mind him paying staff, youth academy wages and club running costs. Accies support was decimated long before Mcgowan ever got here. You all know that is a fact why no one acknowledges this baffles me. l was told Colin suspects that TT has his own personal agenda whatever that is ...l was told that he thinks TT has poisoned most of you gentlemen over time. The truth is when I worked with Colin it was clear he gave his all for our club and his charities. Guiding the club into the best times Accies have ever known bringing in millions. Nobody cares to acknowledge all the new young supporters that came from Colin’s school talks, over 100k watched his 9 minute video with the SPL even reposting it. Does that not tell you anything boys...honestly this web site amuses me in fact do you not see that if no one had bought a season book it wouldn’t have not have made a single difference to Colin l now think I understand what l was told by a few people, fellow supporters that said its a handful of toxic supporters that are the real problem at our club, their unbelievable expectations and sense of entitlement is jaw-dropping, this handful of delusional toxic supporters with loud social media voices give little support to our club - mostly cowards hiding behind keyboards, hiding their true identities normally very sad and unhappy individuals that only feel alive when attacking somebody or something, devoid of common decency. These same toxic voices were there when Accies were in the premiership and was told that they are relatively insignificant to the running of the business although they damage the Accies brand. Colin is certain the vast majority of supporters are really decent people that truly love their club although most realise Accies supporters are a very small part of the community as a whole. When the club is sold l am sure Colin will concentrate on his bigger picture of running his property company looking after his tenants of which we are one. We have always been a tenant, always will be a tenant because where is the 5 million pound to buy our own stadium going to come from? Thank god Colin was there or a developer could have bought it and built flats.

We all know about Colin’s charity work, that it’s his real passion and that annoys a few people on acciesworld, how dare he help people “we are a football club not a charity!!” Although the club, our football club receives revenue from these charities is quite significant revenue ask any new owners to disclose exactly how much revenue the charities give hamilton accies football club and you will be shocked, it may change some opinions although I am certain you won't ask because it won't fit the acciesworld narrative. Anyway with Colin selling the club l expect he will have more time on his hands which our community can only benefit from. My biggest worry is that his money raising ability was quite exceptional although l accept no one on this site would acknowledge that either and l wonder why not? It’s that word “narrative” again. Anyway hopefully we will get a top commercial man that will match or even better what Colin normally brought in, that will let us enjoy a season of winning some games in fact l may even stick a wager on this season to win this division.
I'll leave you all to continue to be the balanced voice of the accies with your glorious leader Terracing Thomas a man of the people, a man of integrity, a proud well respected man. Who ever TT is Accies are lucky to have him, its people like TT that will play a major role in rebuilding Accies once Mcgowan is away. Maybe TT will be the chairman one day? l am told he already had a bit of success with selling the program in the 70s. Goodbye fellow supporters hope you all buy your season books.
Please do not respond to this post because I am seeking help from acciesworld anonymous... you will only hear from me if l have relapsed.