DOCSLIB.ORG

Annual Report for the Year Ended 30 June 2012

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report for the Year Ended 30 June 2012 AFC Annual Report for the year ended 30 June 2012 Aberdeen Football Club plc Company number SC005364 Annual Report for the year ended 30 June 2012 Directors and Advisers Contents Page CHAIRMAN Chairman’s Statement 1 Stewart Milne (non-executive) Business & Financial Review 3 EXECUTIVE VICE-CHAIRMAN George K Yule Report of the Directors 5 CHIEF EXECUTIVE Independent Auditor’s Report 8 Duncan G Fraser Consolidated and Company Profit and Loss Accounts 9 DIRECTORS Gordon A Buchan (non-executive) Statement of Total Recognised Gains and Losses 9 Colin I Welsh (non-executive) Ian Jack (non-executive) Note of Historical Profits and Losses 9 SECRETARY Balance Sheets 10 E David Johnston Consolidated Cash Flow Statement 11 Notes to the Consolidated Cash Flow Statement 12 REGISTERED OFFICE Pittodrie Stadium Notes Forming Part of the Financial Statements 13 Aberdeen AB24 5QH Notice of Annual General Meeting 23 BANKERS INDEPENDENT AUDITOR SOLICITORS NOMINATED STOCKBROKER Bank of Scotland Deloitte LLP Paull & Williamsons LLP Brewin Dolphin Queens Cross Branch Chartered Accountants Union Plaza Blenheim House 39 Albyn Place Union Plaza 1 Union Wynd Fountainhall Road Aberdeen 1 Union Wynd Aberdeen Aberdeen AB10 1YN Aberdeen AB10 1DQ AB15 4DT AB10 1SL Shareholder Information The Company has one class of share capital, Ordinary Shares; all Ordinary Shares have identical voting and other rights. At 31 October 2012 the Company had some 2941 (2011 - 2935) shareholders whose holdings can be categorised as follows:- Size of Shareholding No. Of Shareholders No. Of Shares 000’s 20000 shares or over 20 4521 10000 – 19999 shares 14 181 1000 – 9999 shares 206 529 Under 1000 shares 2701 612 2941 5843 SHARE MARKETING ARRANGEMENTS The Company has entered into an arrangement with Brewin Dolphin, Stockbrokers, Blenheim House, Fountainhall Road, Aberdeen, AB15 4DT telephone 0845 213 1110, who are regulated by the Financial Services Authority, to act as nominated stockbrokers to the Company and to operate a matched bargain service designed to bring buyers and sellers of shares together. Any shareholder wanting further information on their shares should contact David Johnston at Pittodrie Stadium on 01224 650400. Aberdeen Football Club plc i Chairman’s Statement The period covered in this report has been There has been a general recognition across the most tumultuous in the history of Scottish our supporter base that the senior squad has football with the latter part of the season a more robust and balanced look to it and the dominated by the headlines arising from the team has certainly started the current season Rangers FC situation, and SPL clubs faced satisfactorily with a series of very encouraging with difficult but important decisions arising performances and results taking the Club from this. From the outset, Aberdeen Football as high as third in the SPL. Maintaining Club took on board our supporters’ views and improvement in our first team performances the Club maintained its position on sporting on a more consistent basis over the current integrity throughout. For the sake of Scottish season will be a significant factor for us all football let’s hope that a line has been firmly in turning around the fortunes at AFC in the drawn under this event and that we all move longer term. forward. Preparations for the move to our new Despite an improvement in our on-the-field stadium at Loirston were given a set-back performances under the direction of Craig when Aberdeen City Council rejected a Brown and Archie Knox as they continued request for an extension of time to conclude the rebuilding of the senior squad, we an agreement in relation to the Calder finished the season in an unsatisfactory Park development including additional 9th position, which was also the case in the car parking provision and a second access preceding two seasons and this led to drop road to the stadium which were conditions in attendance levels, particularly towards the of planning consent for the main stadium end of the season. This was the key factor in project. We continue to investigate the Club’s a disappointing league campaign which puts options for Loirston and alternative sites with pressure on all aspects of the business and is a number of interested parties and remain something which the Board is committed to confident that a satisfactory solution will addressing going forward. be found in due course. Much of the work relating to Loirston and Calder Park remains After a relatively busy close season during absolutely relevant to our intentions to move which time the Club was linked with many out which is why the Board continue to hold as of contract players we ultimately brought in an asset the development costs to date. four new players and saw others leaving the Club as their contracts expired. This report shows that the Club’s net assets are less than half of its called up share capital. As a There was also a significant Board room re- consequence of this the Directors are obliged structuring with Ken Matheson, Hugh Little, to convene a general meeting of the company Martin Gilbert and Chris Gavin stepping to consider whether any, and if so what, steps down and well known local businessman should be taken to deal with the situation; and Chairman of the successful Sports this is the first item of special business to be Village George Yule joining the Board as Vice considered at the Annual General Meeting. Chairman, to strengthen the executive team The Directors have prepared proposals for and lead the business turnaround ahead of the dealing with the position and consideration Club’s proposed relocation to a new stadium of these proposals will form the remaining at Loirston. In addition to these changes special business of the Annual General Willie Miller also left the Club, after stepping Meeting. down from his role as Director of Youth Development. I would like to put on record my personal thanks for the contributions made by all our former directors. Aberdeen Football Club plc 1 Over the past few years the major shareholders of returning AFC to its rightful place in the have invested substantially in the Club with top quartile of Scottish football and capable interest-free loans now standing at £5.75 of presenting a serious challenge across million in aggregate. Part of this amount has all competitions, culminating in the Club’s been used to finance the development costs participation in European tournaments on a of the new stadium as described above and more regular basis. part to provide finance for the business. The major shareholders now wish to make this We recognise that the financial challenges investment in the business permanent and to presented at Club and Scottish level will this end and subject to shareholder approval demand that we deliver even more talent it is proposed to convert the loans over time from our Youth Development system, whilst into a new class of Preference Shares. balancing this with an appropriate cost base that is aligned with the realities of the football After the ordinary business of the Annual industry in Scotland. General Meeting has been concluded, the shareholders will be asked to vote on a special There is still much to done in the months and resolution which would create this new years ahead to ensure the future success and class of Preference Shares, and to give the sustainability of Aberdeen Football Club and Directors the authority to allot the new shares we recognise and appreciate the continued in satisfaction of the Company’s obligation to support from AFC fans, sponsors, investors and repay the loans. The new shares would carry staff as we press ahead with our turnaround no voting or dividend rights and would not be strategy. redeemable, but on a return of capital would be entitled to payment in priority to the Stewart Milne ordinary shares. No new cash will come into Chairman the Company as a result of this conversion, but over time its financial position will be considerably improved by removing liabilities from its balance sheet totalling £5.75m, and by the corresponding improvement in the ratio of its net assets to called up share capital. Scottish football as a whole continues to experience major challenges across a number of fronts, including a possible restructuring of the professional game to deliver a more competitive and higher quality product offering more meaningful matches to attract increased levels of support from fans and broadcasters in future. AFC has a key role to play in defining the future structure, shape and format of the SPL and we remain fully committed to satisfying not only the needs of our Club, but also all of the stakeholders in Aberdeen Football Club and Scottish football. In summary, we have carried out significant changes at the Club since the previous Annual General Meeting with the intention Aberdeen Football Club plc 2 Business and Financial Review Introduction Replacements were found for Sone and In my report last year, I underlined the Richard, but it was difficult to see Jack move importance that we put on the development on when we had invested much time in a of a more consistent performance on the young player and had such high hopes for park. The early season form of the first team his future at the Club. However, we wish him with an unbeaten run of 12 games would well and will follow his career with interest. indicate that progress is being made in this direction with a much more attractive Wages fell slightly from £5.093m to £5.018m style of play on show. Results were not but after adjusting for termination payments always exactly as we would have liked, but showed an increase of £255,000 due to the the team has demonstrated a resilient side wage bill from the new in-house club shop to their character that has been absent for coming into the figures for the first time some time.
Load more

Recommended publications
  • Sample Download
    NEIL HARMAN CLOSE QUARTERS An Extraordinary Season on the Brink Contents Introduction 7 1. The Madness Awaits 11 2 The Boys from Bolton 43 3. The Life of Darius 55 4. When Wycombe went Top of the Table 74 5. Balderdash 90 6 Going Dutch 103 7. The Jump Start 117 8. Up (and Down) for the Cup 134 9. The Peaks of Performance 142 10. Mind the Gape 154 11. A Singular Goalkeeper 174 12. The Rock and the Glue 194 13. Red, White, Black, Yellow and Cerise 209 14. The Disciples 224 15. The Kashket Chronicles 243 16. A Matter of Life and Death 263 17. Mr Barton’s Boys 276 18. They Think It’s All Over 283 19. It Is Now 304 20 Fasts, Philosophies and Variables 323 21. A Game of Integrity 339 22. The Fourth Quarter 355 The Madness Awaits THE morning of Thursday, 25 July 2019 had broken and found the United Kingdom in a similarly shattered state For three years the old country had been up to its nostrils in divisive angst and days like this compounded both misery and the loss of a common sense of direction A deep blue British sky was usually to be cherished but the heat was becoming too oppressive The mercury this day would near 100°F, causing overhead railway cables to crackle, lines buckle, points fail and thus services were cancelled, concourses choked, thoroughfares clogged and buses rammed Queues formed everywhere One of the longest was outside a London lido where even if you were patient enough to make it through the throng, stripped off and entered the cooling waters, there was only enough elbow room to bob up and down as if you were impersonating
    [Show full text]
  • Edition 0212
    Est 2016 London Borough of Richmond upon Thames Edition 212 Contents TickerTape TwickerSeal C0VID-19 Borough View The Worst Night of the War Marble Hill Marvels Managing Flood Risk Letters Hammersmith Bridge Hampton North Ward News River Crane Sanctury Petitions Fury At Council’s CPO Plans Plant A Tree This Week Twickers Foodie Reviews St Mary’s University Update WIZ Tales - Water In Africa Reviews Film Screenings Football Focus Contributors TwickerSeal Graeme Stoten Marble Hill House Simon Fowler Royal Parks Councillor Geoffrey Samuel Conservative Group Sammi Macqueen Alison Jee Mark Aspen St Mary’s University World InfoZone Bruce Lyons Doug Goodman Richmond Film Society James Dowden RFU LBRuT NAO Editors Berkley Driscoll Teresa Read 27th November 2020 TwickerRobin Photo by Teresa Read TickerTape - News in Brief The Hampton food bank has reopened The food bank at the White House in Hampton has reopened its walk-in service on Tuesdays from 9.30am to 12.30pm and on Wednesdays from 2 to 5pm, to help local people who might need food and support. The address for the food bank is The White House, 45 The Avenue, Hampton, TW12 3RN. People visiting will have their temperatures taken, will be asked to socially distance, wear masks and to sanitise their hands. For more information visit www.vineyardcommunity.org. Have your say on Royal Parks movement strategy Residents are reminded that Royal Parks are inviting feedback on their trial Movement Strategy in Richmond and Bushy parks. In August, Royal Parks launched a trial to create new car-free spaces in Richmond and Bushy parks and reduce the volume of through-traffic.
    [Show full text]
  • Tom Bayliss Pos: CM Age: 19 Apps(Goals): 41(3)
    Contents Opening Words ........................................................................................................................ 4 Club-By-Club Reviews ............................................................................................................. 6 Player Reviews ....................................................................................................................... 34 Story of the Season ................................................................................................................ 47 Settling In To League One ................................................................................................ 48 Hitting Our Stride ................................................................................................................ 53 Hitting A Wall ...................................................................................................................... 59 Hitting Another Wall ........................................................................................................... 64 Hitting Another Stride......................................................................................................... 69 Sixth-Place Dangling.......................................................................................................... 76 Mark Robins ............................................................................................................................ 81 Most Important Player ..........................................................................................................
    [Show full text]
  • Football Club
    FULHAM FULHAM v CELTA VIGO CELTA v FULHAM FULHAM FC FOOTBALL CLUB The Offi cial Matchday Programme London's Original Season 18/19 | £2.00 Football Club PRESEASON FRIENDLY SATURDAY 4TH AUGUST, 3PM AUGUST, 4TH SATURDAY PRESEASON FRIENDLY V FULHAMSATURDAY FC 4TH AUGUST KICKOFF 3PM A ISSUE NO. A 001_FFC_COVERSPREADv3.indd 3 02/08/2018 16:33 003 CONTENTS.indd 2 02/08/2018 10:55 FULHAM FC DIRECTORY Fulham Football Club, Training Ground, CONTENTS Motspur Park, Surrey, KT3 6PT Tel: 0843 208 1222 | Fax: 0208 336 0514 Email: [email protected] FFC Ticket Line: 0203 871 0810 CHAIRMAN & DIRECTORS Chairman: Shahid Khan Vice Chairman & Director of Football Operations: Tony Khan Chief Executive Officer: Alistair Mackintosh Finance Director: Sean O’Loughlin Non-Executive Director: Mark Lamping Non-Executive Director: David Daly FOOTBALL MANAGEMENT HEAD COACH NEW BOYS Head Coach: Slaviša Jokanović Slaviša Jokanović praises Introducing Fulham’s First Team Assistant Coach: Javier Pereira 06 all connected with Fulham 12 batch of signings made First Team Assistant Coach: Rafael Cristobal after a stellar season over the summer months First Team Coach: Scott Parker Manager of First Team Medical & Sports Science: Marco Cesarini Goalkeeping Coach: José Carreira Fitness Coaches: Alastair Harris & Gary Hall First Team Coach: Alberto Escobar Lead Professional Development Coach: Peter Grant FOOTBALL OPERATIONS Vice Chairman & Director of Football Operations: Tony Khan Assistant Director of Football Operations & Chief Scout: Brian Talbot Management Board Chief Executive
    [Show full text]
  • Monfils Finally a Champ in Qatar
    NNBABA | Page 5 CCRICKETRICKET | Page 3 Boston Celtics South Africa stumble past on top despite Minnesota Pandya Timberwolves heroics Sunday, January 7, 2018 FOOTBALL Rabia II 20, 1439 AH Mourinho hits back GULF TIMES at Conte, raises match-fi xing SPORT Page 7 TENNIS/ QATAR EXXONMOBIL OPEN Monfi ls fi nally a champ in Qatar Monfils came to Qatar as a wildcard after missing out on the action for several months in 2017 with injury problems By Anil John Doha ver the years the centre court at the Khalifa International Tennis and Squash Complex has proven a fi eld of dreams Ofor some of the fi nest players in the his- tory of the game. But for one man the very mention of it would evoke painful memories – of heartbreak and despair, of broken promises and shattered confi dence. Not any more. Gael Monfi ls has had enough. He is a champion at last. The opening week of the 2018 tennis couldn’t have concluded in better fash- ion. Monfi ls, the runner-up in 2006, 2012 and 2014, fi nally broke his title jinx at the Qatar ExxonMobil Open with a clinical 6-2, 6-3 demolition of Russia’s 20-year-old sensation Andrey Rublev. It was an anti-climactic aff air, no doubt, but not many who watched the Gael Monfils receives the winner’s cheque from Qatar Tennis Federation President Nasser Ghanem al-Kheleifi as ExxonMobil match would have complained. Sen- Qatar President and General Manager Alistair Routledge (left), legendary tennis coach Nick Bollettieri (fourth from left) and timental favourite Monfi ls deserved it the tournament director Karim Alami (right) look on.
    [Show full text]
  • Plawyered Issue 1
    P a g e | 1 “You were born to be a player. You were meant to be here. This moment is yours.” – Herb Brooks P a g e | 2 SPORTS INCLUDED IN POST-2015 DEVELOPMENT AGENDA The United Nations General Assembly adopted Sports in the post-2015 Development Agenda. Sport is now included in the final outcome document as an “important enabler” of sustainable development for the goals, which were adopted by the UN Member States with a commitment to implement them by 2030.Paragraph 37 of “Transforming our World acknowledges the same. Paragraph 37 of “Transforming our World: The 2030 Agenda for Sustainable Development” reads: “Sport is also an important enabler of sustainable development. We recognise the growing contribution of sport to the realisation of development and peace in its promotion of tolerance and respect and the contributions it makes to the empowerment of women and of young people, individuals and communities as well as to health, education and social inclusion objectives.” This new UN Agenda specifically acknowledges the important role that sport plays promoting healthy lifestyles, education and social inclusion. P a g e | 3 TEAM PLAWYERED Editorial Board Gaurav Misra , Publishing Editor , Plawyered He is currently pursuing B.A. LL.B. (Hons.) from Chanakya National Law University, Patna. A voracious reader and an ardent Arsenal supporter, Plawyered is his way of bringing his love for law and sports on one single platform. Tejaswini Ranjan, Managing Editor, Plawyered She is currently pursuing B.A. LL.B. from Chanakya National Law University, Patna. She is a sports enthusiast and a big fan of cricket.
    [Show full text]
  • Intermediary Transactions 1February 2017 to 31 January 2018
    27/03/2018 Premier League Intermediary Transactions 1 February 2017 to 31 January 2018 The information below represents all Transactions involving Clubs where an Intermediary was used from 1st February 2017 to 31 st January 2018. If the Intermediary was a company, they are listed in bold with their representative(s) in italics. If more than one intermediary acted on behalf of any of the parties (including subcontracts), they will be separated by "/". This information has been made publicly available in accordance with the requirements of the FIFA Regulations on Working with Intermediaries and The FA Regulations on Working with Intermediaries. The information has been included in good faith for football regulatory purposes only and no undertaking, representation or warranty (express or implied) is given as to its accuracy, reliability or completeness. We cannot guarantee that any information displayed has not been changed or modified through malicious attacks or “hacking”. Date Received Registering Club Player Player IM Player IM Organisation Registering Club IM Registering Club IM Organisation Former Club IM Former Club IM Organisation Former Club 01/02/17 AFC Bournemouth Ryan Fraser Jon McLeish Platinum One Sports Management Jon McLeish Platinum One Sports Management 24/05/17 AFC Bournemouth Steve Cook Marlon Fleischman Unique Sports Management Marlon Fleischman Unique Sports Management 22/06/17 AFC Bournemouth Harry Arter Paul Martin WMG Management Europe Ltd Paul Martin WMG Management Europe Ltd 30/06/17 AFC Bournemouth Asmir Begovic
    [Show full text]
  • The Sideways Sammy Season Preview
    Support Content Like This If you feel this Season Preview is worth paying for, please consider leaving a donation of an amount you comfortable with (£2 suggested) via: https://bit.ly/3lVZand A lot of time and effort goes into putting together these Season Preview and Reviews, any donation would be greatly appreciated but I am happy for anyone to enjoy this content for free – any shares via social media would also be a great help. Thanks, Dominic The Sideways Sammy 2020-21 Season Preview 1 Opening Words Football is back! While recent success has been achieved amid our off-field problems, it has largely been Six months since Matt Godden’s satirical down to the influence of one man – Mark elbow-touch celebration against Ipswich Robins – who may or may not last during this Town, Coventry City finally return to league interim period the club is in before a new action. It’s fair to say that a lot has changed stadium and may or may not be able to since then. sustain this current momentum. From coping with life amid a pandemic, the Despite everything, it’s hard not to feel various arguments surrounding the excited at the prospect of a new season curtailment of the season, promotion being following promotion. While there were things quietly confirmed, new signings arriving, the to enjoy about League One & Two football, announcement of plans for a new stadium, this is a level where there are big clubs to the confirmation of our stay in Birmingham, play just about every week. Even without the and pre-season friendlies.
    [Show full text]
  • Football Stats Compiler409
    visualformguides football weekend football 13-15 April 2018 DATE TIME LEAGUE HOME AWAY 1 X 2 PAGE 13/04/2018 19:45 CH Aston Villa Leeds 1.57 4.50 7.50 3 13/04/2018 20:00 SP1 Girona Betis 2.26 3.60 3.45 4 13/04/2018 19:30 GER1 Wolfsburg Augsburg 2.10 3.52 4.00 5 13/04/2018 19:45 FRA1 Angers Nice 2.82 3.30 2.77 6 14/04/2018 12:30 EPL Southampton Chelsea 4.60 3.75 1.90 7 14/04/2018 15:00 EPL Burnley Leicester 2.74 3.25 3.00 8 14/04/2018 15:00 EPL Crystal Palace Brighton 2.00 3.48 4.40 9 14/04/2018 15:00 EPL Huddersfield Watford 2.76 3.35 2.90 10 14/04/2018 15:00 EPL Swansea Everton 2.55 3.34 3.15 11 14/04/2018 17:30 EPL Liverpool Bournemouth 1.26 6.90 13.00 12 14/04/2018 19:45 EPL Tottenham Man City 2.68 3.75 2.70 13 14/04/2018 15:00 SCP Hamilton Kilmarnock 4.33 3.60 1.95 14 14/04/2018 12:15 SCP Motherwell Aberdeen 3.50 3.30 2.10 15 14/04/2018 13:00 CH Sheffield United Millwall 2.25 3.40 3.65 16 14/04/2018 15:00 CH Barnsley Bolton 1.95 3.55 4.45 17 14/04/2018 15:00 CH Burton Derby 5.20 3.76 1.80 18 14/04/2018 15:00 CH Hull Sheffield Weds 1.77 3.95 4.95 19 14/04/2018 15:00 CH Middlesbrough Bristol City 1.91 3.50 4.80 20 14/04/2018 15:00 CH Norwich Cardiff 3.35 3.42 2.38 21 14/04/2018 15:00 CH Nott'm Forest Ipswich 1.91 3.60 4.75 22 14/04/2018 15:00 CH QPR Preston 2.95 3.52 2.55 23 14/04/2018 15:00 CH Reading Sunderland 2.53 3.50 3.00 24 14/04/2018 17:30 CH Fulham Brentford 1.76 4.20 5.00 25 14/04/2018 15:00 LGE1 Blackpool Fleetwood Town 2.20 3.48 3.70 26 14/04/2018 15:00 LGE1 Bristol Rvs Blackburn 4.20 3.64 1.96 27 14/04/2018 15:00 LGE1 Bury
    [Show full text]
  • P16sports 2 Layout 1
    Established 1961 Sport SUNDAY, JANUARY 7, 2018 Shiffrin holds off Worley, Hirscher Roger Federer lauds Hingis Oman shut down UAE to win 12edges rivals on prestige first run 14 influence after Hopman win 15 23rd Arabian Gulf Cup MANCHESTER: Manchester City’s Argentinian striker Sergio Aguero (C) has a shot blocked during the English FA Cup third round football match between Manchester City and Burnley at Etihad Stadium in Manchester. — AFP Aguero fires City’s FA Cup bid Hughes under pressure as Stoke crash LONDON: Sergio Aguero fired Manchester City to a 4-1 reported this week that the club’s hierarchy had consid- his way through Stoke’s defence and side-footed past Jack page-time. Newcastle had been tipped as potential upset win over Burnley in the FA Cup third round, while Stoke ered dismissing Hughes and whether he can survive any Butland in the 67th minute. At Dean Court, Bournemouth victims, but they swept away fourth tier leaders Luton with boss Mark Hughes is fighting to save his job after the longer must now be in doubt. Coventry have fallen on hard manager Eddie Howe made eight changes as he prioritised a 3-1 win at St James’ Park. Rafael Benitez’s side ran riot in Premier League strugglers suffered an embarrassing 2-1 times since winning the FA Cup in a classic 1987 final Premier League survival and it needed a second half the first half as Ayoze Perez netted in the 30th and 36th defeat at minnows Coventry yesterday. against Tottenham and revival from his under- minutes before Jonjo Shelvey struck after 39 minutes.
    [Show full text]