martnewts

I agree with your argument completely. The revaluation reserve was established in the 2008 accounts which was the first year of revaluations it is the "other side" of the accounting entry which increases the fixed asset valuation, the revaluation reserve then sits in the balance sheet until either disposal or subsequent revaluation (up or down) subject to annual depreciation amounts. The Total annual depreciation charge on the property is then split between the amount which relates to the original cost which is deducted from the net book value and the amount which relates to the revalued amount which is deducted from the revaluation reserve The write back of depreciation in 2008 is to restart the clock so to speak on that asset so that the full £55M is included in fixed assets. Effectively in the 2007 accounts pride park was included at cost £20.8M less accumulated depreciation of £5,4M ie £15.4M if in 2008 it is revalued up to £55M but the accumulated depreciation of £5.4M remains in the accounts then in the 2008 accounts Pride Park is then only shown at £49.6M when the valuation shows it to be "worth" £55M In subsequent years the £55M is then subject to annual depreciation charges.

£81.1M is broadly Net book value eliminated £41.6 plus profit on disposal £39.9

In the 2018 accounts the revaluation reserve has been eliminated. It is no longer shown on the balance sheet on page 12. The movement in the reserve is not shown in Note 19 as you might expect it to be. From Note 11 of the accounts the Cost or revaluation eliminated on disposal is £56,502,091 I presume this to be the original cost of £20,852,867 plus the revaluation of £34,147,133 plus I presume costs added to freehold property since the revaluation of £5,056,695

Exactly that. Pride Park in the 2008 accounts was included at £55M See note 9 in the accounts tangible fixed assets, Land and Buildings which show a total net book value of £60.1M for Land and Buildings. So there must be some other land and buildings included in the accounts in addition to Pride park

@Mr Popodopolous I suspect the rational for the impairment was that up to 2015/16 Villa were a Premier League Club and therefore the "asset" Villa Park was generating premier league levels of income, following relegation the asset is no longer generating Premier league levels of income and consequently arguably its value has been impaired. Not sure of the date of the subsequent Villa park sale but if after they achieved promotion then I guess Villa Park is again an asset that will generate Premier League levels of income and therefore the impairment would be reversed.

@Mr Popodopolous you have made me interested and I have now looked at the accounts for 2007/8. The revaluation reserve at 30/6/08 of £39,554,000 is the difference between the valuation of £55,000,000 and historic cost of £20,852,867 = £34,147,133 plus writing back of depreciation previously charged on land and buildings of £5,407,000 This results in Pride Park being stated in those accounts in fixed assets at £55,000,000 The £39,554,000 revaluation reserve in the balance sheet is not an additional asset it is actually a credit on the balance sheet so more similar to a liability than an asset. The unrealised surplus reported is effectively disclosing the amount of the revaluation "profit" in the statement of total recognised gains and losses. ie a "profit" which has been recognised but that is not reported in the profit and loss account. The 2008 accounts do not include a provision for deferred tax, possibly because the requirements for measuring and disclosing deferred tax were different than they are currently.

@Mr Popodopolous A deferred tax charge would be calculated on the potential taxable chargeable gain arising if the property was sold at the revalued amount and would only become payable in the event of a disposal. It would be (broadly) calculated on the difference between the historic cost and the revalued amount (less indexation if applicable) at current corporation tax rates.

I haven’t looked at the accounts in question but is there a deferred tax provision in them? If so a proportion of the revaluation could/should be part of the deferred tax balance

Another one of theirs covering himself in glory. Apparently a prominent member of supporters club and worked bars at the mem https://www.devonlive.com/news/churchgoer-travelled-bristol-mcdonalds-exeter-3316556

Isnt that a description of Ashton Gate?

Don’t click the link it seems their forum has an std like most it’s users

Going forward I wonder if the solution is that if a promoted club has been found to have breached FFP in the promotion season then perhaps the punishment should be that if they are subsequently relegated from the PL at any time in the future that they would then not be eligible for Parachute payments? This would certainly lessen the financial advantage gained by "cheating" to get promotion.

Not an area in which I have massive expertise but is the required stamp duty land tax being paid over on these “sales” eg on an £80m sale of non residential property there is approximately £4m of stamp duty due

I dont think that accounting rules would permit the sale of a player being back dated into a previous accounting period unless the contract for the sale was dated before the end of the accounting period and that date was during a valid transfer window. If projected accounts to 31 May 19 are included projected player sales revenue then surely that would fail on both counts .

Companies house shows 6 companies that have the pleasure of Mr W Aqadi as a director all of which appear to have failed to submit accounts which were due by 31 March 2019 and in one case due by 28 February 2019. As Bristol Rovers Football Club Limited and Bristol Rovers (1883) Limited are audited accounts they are likely to have been submitted by post (they were last year) so they may have been submitted and are awaiting Companies House updating their records. The other companies all appeared to be submitted online last year and if they had been this year they would be shown as submitted on Companies House by now.

Nicking that for Facebook

Next bit of great professionalism they failed to open the "megastore" in kings wood where apparently the unwashed needed to collect tickets for yesterday's game https://bristolroverssc.co.uk/2017/08/12/an-apology/

padstow Fans' Favourite Posts: 1,021 Member is Online Posting Level Next Level in 479 posts 19 minutes ago via mobile pirate and Langford Gas like this Quote Post by padstow on 19 minutes ago 17 hours ago francegas said: Had a look at fb page and Chris Brown (not one for making up BS) has stated he has heard bad news from Rovers. Basically Hani has ditched the stadium and has put no money across to run the club. Has any one heard anything to collaberate this? Yes about 3 weeks ago There is a move to put a winding up order before the courts by a group of creditors From their forum now, suggestion of possibility of winding up order. This would certainly explain why Dwayne sports have taken a charge to secure their debt.