AGM

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wizardofos
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AGM

Post by wizardofos » Mon Feb 03, 2020 9:39 am

The AGM and release of accounts has usually taken place by now. Has there been any news on this which I have missed?

super_les_mcjannet
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Re: AGM

Post by super_les_mcjannet » Mon Feb 03, 2020 9:47 am

Expect something soon, think it’s planned for this month but agree yep it’s normally done earlier.

It makes the accounts less interesting as this seasons accounts would be of more interest, I am expecting an update on where we are this season as well though.

bga
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Re: AGM

Post by bga » Mon Feb 03, 2020 11:26 am

super_les_mcjannet wrote:
Mon Feb 03, 2020 9:47 am
Expect something soon, think it’s planned for this month but agree yep it’s normally done earlier.

It makes the accounts less interesting as this seasons accounts would be of more interest, I am expecting an update on where we are this season as well though.
Wrong they will include commercial revenue brought in by the Commercial Manager!

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divas
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Re: AGM

Post by divas » Mon Feb 03, 2020 3:10 pm

Apart from the commercial manager wasn’t in situ for the full accounting period so you won’t know what was brought in prior to the commercial managers appointment

bga
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Re: AGM

Post by bga » Mon Feb 03, 2020 3:35 pm

divas wrote:
Mon Feb 03, 2020 3:10 pm
Apart from the commercial manager wasn’t in situ for the full accounting period so you won’t know what was brought in prior to the commercial managers appointment
True but it's going to be the only information we do receive on how successful or other wise the commercial department has been. In addition it will no doubt include transfer fees received be interesting if we can work out how much we got for Styche?

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don'tbuythesun
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Re: AGM

Post by don'tbuythesun » Mon Feb 03, 2020 4:05 pm

Surely as a fan owned club it's acceptable to politely ask for some breakdown of the figures so comparisons and explanations for decisions can be given? I personally want a degree of information but really just want to know if we're in profit (!)/ Breaking even / in loss. I hope based on the excellent cup run, TV revenue, sensible management and commercial activity it's one of the first two. Whilst I do contribute there are people who have massively put money into the club and I think they deserve some transparency.

super_les_mcjannet
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Re: AGM

Post by super_les_mcjannet » Mon Feb 03, 2020 6:47 pm

bga wrote:
Mon Feb 03, 2020 11:26 am
super_les_mcjannet wrote:
Mon Feb 03, 2020 9:47 am
Expect something soon, think it’s planned for this month but agree yep it’s normally done earlier.

It makes the accounts less interesting as this seasons accounts would be of more interest, I am expecting an update on where we are this season as well though.
Wrong they will include commercial revenue brought in by the Commercial Manager!
Well it will, however the point is that looking at our finances and where we were as of 30th June 2019, doesn't give us a view of where we are now, what could be 8 months later.

Therefore the accounts are less interesting than any information of what's happend since 1st July 2019 to the present day 2020. Where we are right now guides us more on what scenario we will be in the summer and not where we were in June 2019.

How commerically we have done from July 1st 2018 to 30th June 2019, probably doesn't give a fair reflection on what Commercial Director completed as he didn't join us until October 2018. I agree though an indication may be there but I don't think it confirms the role is negative or positive either way - well unless it shows revenue increase of £200k and profit increase of £100k and that would make any decision strange to remove the role.

eek
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Re: AGM

Post by eek » Tue Feb 04, 2020 12:57 pm

super_les_mcjannet wrote:
Mon Feb 03, 2020 6:47 pm
How commerically we have done from July 1st 2018 to 30th June 2019, probably doesn't give a fair reflection on what Commercial Director completed as he didn't join us until October 2018. I agree though an indication may be there but I don't think it confirms the role is negative or positive either way - well unless it shows revenue increase of £200k and profit increase of £100k and that would make any decision strange to remove the role.
No it doesn't as it might be the lack of repeat business from October 2019 which was the issue or an argument over commission rates.

Simply put we will never know so there is zero point getting stressed by it.

bga
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Re: AGM

Post by bga » Thu Feb 13, 2020 9:34 pm

To be held Friday 28th Feb. at Dophin Centre at 19.15.

hodgie1
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Re: AGM

Post by hodgie1 » Mon Feb 17, 2020 11:37 am

I maybe wrong, but I thought there had to be a month's notice of an AGM?

JE93
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Re: AGM

Post by JE93 » Mon Feb 17, 2020 11:38 am

hodgie1 wrote:
Mon Feb 17, 2020 11:37 am
I maybe wrong, but I thought there had to be a month's notice of an AGM?
14 days for private limited companies, 21 for PLC's.

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Re: AGM

Post by hodgie1 » Mon Feb 17, 2020 11:50 am

you learn something every day

jjljks
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Re: AGM

Post by jjljks » Thu Feb 27, 2020 5:30 pm

The notice says it is for shareholders only, but does this include members of the Supporters Group as DFC are 'fan-owned'?

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Re: AGM

Post by JE93 » Thu Feb 27, 2020 5:36 pm

jjljks wrote:
Thu Feb 27, 2020 5:30 pm
The notice says it is for shareholders only, but does this include members of the Supporters Group as DFC are 'fan-owned'?
No. DFCSG has an elected board to represent its members interest in relation to its ownership of Darlington 1883 Ltd. To be admitted to the AGM you would have to hold Shares in Darlington 1883 Ltd or been appointed as proxy for a shareholder.

jjljks
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Re: AGM

Post by jjljks » Thu Feb 27, 2020 6:30 pm

JE93 wrote:
Thu Feb 27, 2020 5:36 pm
jjljks wrote:
Thu Feb 27, 2020 5:30 pm
The notice says it is for shareholders only, but does this include members of the Supporters Group as DFC are 'fan-owned'?
No. DFCSG has an elected board to represent its members interest in relation to its ownership of Darlington 1883 Ltd. To be admitted to the AGM you would have to hold Shares in Darlington 1883 Ltd or been appointed as proxy for a shareholder.
Thanks. The lack of details on the Sporting Village & departure of FD+CM is frustrating and appears as a lack of transparency to the fan on the terraces🤨

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Re: AGM

Post by JE93 » Thu Feb 27, 2020 6:44 pm

jjljks wrote:
Thu Feb 27, 2020 6:30 pm
JE93 wrote:
Thu Feb 27, 2020 5:36 pm
jjljks wrote:
Thu Feb 27, 2020 5:30 pm
The notice says it is for shareholders only, but does this include members of the Supporters Group as DFC are 'fan-owned'?
No. DFCSG has an elected board to represent its members interest in relation to its ownership of Darlington 1883 Ltd. To be admitted to the AGM you would have to hold Shares in Darlington 1883 Ltd or been appointed as proxy for a shareholder.
Thanks. The lack of details on the Sporting Village & departure of FD+CM is frustrating and appears as a lack of transparency to the fan on the terraces🤨
Sporting village is a tough one. Unfortunately the way these processes work is that there will be absolutely no information of any real substance (all locked behind NDA's and confidentiality agreements) until there is all the information. They got the funds from the Teesside mayor to do the feasibility study last year so I'd imagine those in the know (council, DMP management) will now be in possession of an, if not final, very well developed report from whichever professional advisors they chose.

Similarly not much you can say about people leaving jobs. Would you be happy for it to be communicated with the wider public the reason for you leaving your role? They're private matters between the club and the individual.

Would love to be able to go along to the AGM but unfortunately the share issue etc all happened at a time when I was a potless student. I have faith in the skills that we have in the DFCSG and would expect an in depth debrief to members following the conclusion of the AGM. Just dont expect them to be able to go into depth on any of those 3 things.

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Re: AGM

Post by jjljks » Thu Feb 27, 2020 7:17 pm

Agreed up to a point, however thought club was to make a statement about SV at Xmas. No problem with NDA's etc & why FD+CM left but more important that we get someone in to replace 2 key roles at the club. Fans could be reassured if a person at Board level made a communication on the club website.

bga
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Re: AGM

Post by bga » Thu Feb 27, 2020 7:53 pm

jjljks wrote:
Thu Feb 27, 2020 7:17 pm
Agreed up to a point, however thought club was to make a statement about SV at Xmas. No problem with NDA's etc & why FD+CM left but more important that we get someone in to replace 2 key roles at the club. Fans could be reassured if a person at Board level made a communication on the club website.
The show that Commercial income increased to £90,131 from £55,441 in the previous year. However, an increase in costs (not sure if this includes the CM's salary) saw Commercial P&L fall to £20,817 from £42,092 in the previous year. As I said I don't understand how CM's salary is accounted for but clearly a large fall in P&L is not good news at all. The CM was in place for 9 of the 12 months. Perhaps we make more money without a CM?

jjljks
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Re: AGM

Post by jjljks » Thu Feb 27, 2020 8:11 pm

Thanks for the updated info & yes, it does raise the need for further explanation which may come via DFCSG. CM is crucial role to the future of the club and often it is a case of networking as much as qualifications.

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Re: AGM

Post by super_les_mcjannet » Thu Feb 27, 2020 9:06 pm

bga wrote:
Thu Feb 27, 2020 7:53 pm
jjljks wrote:
Thu Feb 27, 2020 7:17 pm
Agreed up to a point, however thought club was to make a statement about SV at Xmas. No problem with NDA's etc & why FD+CM left but more important that we get someone in to replace 2 key roles at the club. Fans could be reassured if a person at Board level made a communication on the club website.
The show that Commercial income increased to £90,131 from £55,441 in the previous year. However, an increase in costs (not sure if this includes the CM's salary) saw Commercial P&L fall to £20,817 from £42,092 in the previous year. As I said I don't understand how CM's salary is accounted for but clearly a large fall in P&L is not good news at all. The CM was in place for 9 of the 12 months. Perhaps we make more money without a CM?
His wages is in other staff wages.

Unfair to judge on that period to be honest, I would be more interested in the trajectory over this season which should highlight the success or not.

However it's a bit of a moot point as he isn't involved anymore.

What I would say is CM seemed to do a good promotional job but at BM under current challenges it looks like he was fighting a battle with his hands tied behind his back, he didn't have the opportunities to make enough profit I would guess.

wizardofos
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Re: AGM

Post by wizardofos » Thu Feb 27, 2020 9:24 pm

For the record, the Club's official accounts show the following performance since it became fan owned.
In each case, it's year ending 30 June, rounded to the nearest £1,000:
2013 - £151,000 loss
2014 - £105,000 profit
2015 - £81,000 loss
2016 - £175,000 loss
2017 - £158,000 loss
2018 - £174,000 loss
2019 - £117,000 loss
A smarter accountant than me will advise how we are still here.

The Golden Hairclip
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Re: AGM

Post by The Golden Hairclip » Thu Feb 27, 2020 9:34 pm

wizardofos wrote:For the record, the Club's official accounts show the following performance since it became fan owned.
In each case, it's year ending 30 June, rounded to the nearest £1,000:
2013 - £151,000 loss
2014 - £105,000 profit
2015 - £81,000 loss
2016 - £175,000 loss
2017 - £158,000 loss
2018 - £174,000 loss
2019 - £117,000 loss
A smarter accountant than me will advise how we are still here.
Donations (such as boost the budget) don’t appear in the P&L


Sent from my iPhone using Tapatalk

quakersfan
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Re: AGM

Post by quakersfan » Thu Feb 27, 2020 9:52 pm

The Golden Hairclip wrote:
Thu Feb 27, 2020 9:34 pm
wizardofos wrote:For the record, the Club's official accounts show the following performance since it became fan owned.
In each case, it's year ending 30 June, rounded to the nearest £1,000:
2013 - £151,000 loss
2014 - £105,000 profit
2015 - £81,000 loss
2016 - £175,000 loss
2017 - £158,000 loss
2018 - £174,000 loss
2019 - £117,000 loss
A smarter accountant than me will advise how we are still here.
Donations (such as boost the budget) don’t appear in the P&L


Sent from my iPhone using Tapatalk
Without the tramsfer fees of £112l the 2019 end of year could have been a lot worse. With the cup run approx £100k and DJ equity purchase id like to think current situation is much better. Hopefully we will have an update tomorrow night.

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Re: AGM

Post by jjljks » Fri Feb 28, 2020 6:31 am

5 losses in a row is real relegation form😥
Seems like we need a miracle worker for FD

Thanks everyone who has chipped in details

quakersfan
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Re: AGM

Post by quakersfan » Fri Feb 28, 2020 9:56 am

bga wrote:
Thu Feb 27, 2020 7:53 pm
jjljks wrote:
Thu Feb 27, 2020 7:17 pm
Agreed up to a point, however thought club was to make a statement about SV at Xmas. No problem with NDA's etc & why FD+CM left but more important that we get someone in to replace 2 key roles at the club. Fans could be reassured if a person at Board level made a communication on the club website.
The show that Commercial income increased to £90,131 from £55,441 in the previous year. However, an increase in costs (not sure if this includes the CM's salary) saw Commercial P&L fall to £20,817 from £42,092 in the previous year. As I said I don't understand how CM's salary is accounted for but clearly a large fall in P&L is not good news at all. The CM was in place for 9 of the 12 months. Perhaps we make more money without a CM?
Previous to CM arriving commercial was done by John Tempest on a part time basis although he got paid so looks like the cost of a full time commercial manager is costly but IMO it’s needed.

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Re: AGM

Post by jjljks » Sat Feb 29, 2020 8:14 am

Did anything significant emerge from AGM?

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Re: AGM

Post by Mister e » Sat Feb 29, 2020 7:18 pm

Yes - the shareholders 😁

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Re: AGM

Post by tezza » Mon Mar 09, 2020 9:45 am

Remarkably silent after AGM.

Given the announcement of early bird season ticket sales, with the expectation for fans to demonstrate commitment, Surely in the interest of transparency a statement ALA 2019 update should be provided.

bga
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Re: AGM

Post by bga » Mon Mar 09, 2020 5:47 pm

tezza wrote:
Mon Mar 09, 2020 9:45 am
Remarkably silent after AGM.

Given the announcement of early bird season ticket sales, with the expectation for fans to demonstrate commitment, Surely in the interest of transparency a statement ALA 2019 update should be provided.
I have to agree DJ should put out a statement for the benefit of those who are not directly shareholders, as to how we hope to move from the reported loss to a healthier financial position this trading year. Failing any communication from DJ surely the
Supporters group as the majority shareholder should provide the necessary reassurance to us fans?

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Re: AGM

Post by H1987 » Mon Mar 09, 2020 7:25 pm

Hopefully the 500 club coming to an end will help improve those financial figures to something healthier and more sustainable in the near future.

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