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I have just found the 2014 Accounts for Dem Blades on Google (haven't put the link in as it was too long just search SUFC Accounts 2014) and the other related party transactions on page 18 are very interesting.

 

Scarborough Luxembourgh Sart was owed £17,375,050 at year end 2014 and £1,634,111 interest (rate 10%) was charged last year looks like the interest rolled up.

 

Scarborough United Group Ltd, £7,061,988 was owed at year end 2014 and £47,798 (rate Libor plus 4%) interest was charged and looks like it has been rolled up.

 

Scarborough Management Company charged SUFC £197,833 management fees and the balanced owed to them at year end 2014 was £462,422.

 

There has been a bit of creative work here as the last Account were in Sheffield United PLC and now it is just Sheffield United Limited (formerly Sheffield United PLC) but I thought Mr McCabe had written off all the debts and wasn't charging interest.

 

By the looks of this there is £24,899,460 of debt (which we were told had been written off) and interest charges at £1,681,909 payable on debts that had been written off. It is clear where an funds from transfers goes it is to pay the interest on Mr McCabe's loans to the club.

 

I thought you were debt free

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:hihi::hihi::hihi:

An owl worrying about how much the Blades are in debt PCG once again

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I have just found the 2014 Accounts for Dem Blades on Google (haven't put the link in as it was too long just search SUFC Accounts 2014) and the other related party transactions on page 18 are very interesting.

 

Scarborough Luxembourgh Sart was owed £17,375,050 at year end 2014 and £1,634,111 interest (rate 10%) was charged last year looks like the interest rolled up.

 

Scarborough United Group Ltd, £7,061,988 was owed at year end 2014 and £47,798 (rate Libor plus 4%) interest was charged and looks like it has been rolled up.

 

Scarborough Management Company charged SUFC £197,833 management fees and the balanced owed to them at year end 2014 was £462,422.

 

There has been a bit of creative work here as the last Account were in Sheffield United PLC and now it is just Sheffield United Limited (formerly Sheffield United PLC) but I thought Mr McCabe had written off all the debts and wasn't charging interest.

 

By the looks of this there is £24,899,460 of debt (which we were told had been written off) and interest charges at £1,681,909 payable on debts that had been written off. It is clear where an funds from transfers goes it is to pay the interest on Mr McCabe's loans to the club.

 

I thought you were debt free

 

We've been through all this before with you haven't we? Veritas had to come on and explain things and then you disappeared?

 

If you sell pensions (if that is what you really do) then fine, stick with that pal.

 

Whatever the real story is, I will wait for an informed explanation from someone who actually works with, and understands, corporate accounts.

 

---------- Post added 06-01-2015 at 16:26 ----------

 

:hihi::hihi::hihi:

An owl worrying about how much the Blades are in debt PCG once again

 

I'd be more worried about spouting off in public about the community sports centre on Penistone road, which they made a song and dance about a few years ago! :hihi:

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I have just found the 2014 Accounts for Dem Blades on Google (haven't put the link in as it was too long just search SUFC Accounts 2014) and the other related party transactions on page 18 are very interesting.

 

There are only 16 pages. However, as you will see the parent company own 85% and the debt is owed to them. It's like you taking money from your savings account and paying it back to yourself (but yes with interest in this case because people actually want to make money out of business). It's soft debt and in the football world it's not that much.

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There are only 16 pages. However, as you will see the parent company own 85% and the debt is owed to them. It's like you taking money from your savings account and paying it back to yourself (but yes with interest in this case because people actually want to make money out of business). It's soft debt and in the football world it's not that much.

 

Don't spoil his fun pal :hihi:

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The debt is to the Scarborough group which is in the hands of the McCabe family and guaranteed by them, much the same as the debt of S.W.F.C. is owed to companies owned by Mr.Manderic who as you know bought over the whole of the debt.

 

If you put away your biased specs for a moment you will see just how lucky both Sheffield teams being bankrolled by two such benefactors.

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The debt is to the Scarborough group which is in the hands of the McCabe family and guaranteed by them, much the same as the debt of S.W.F.C. is owed to companies owned by Mr.Manderic who as you know bought over the whole of the debt.

 

If you put away your biased specs for a moment you will see just how lucky both Sheffield teams being bankrolled by two such benefactors.

 

Shhhhhh!!!! You are as bad as Snook Rossy, explaining things to a financial expert!!!!

 

He spent time searching through Google for that (but couldn't post a link, maybe the searching tired him out) so don't spoil his moment of glory :hihi:

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An owl just happens to find the Blades accounts. Pahahahahaha.

They've got it bad these lads.:hihi::hihi:.

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To be honest im sure there are more interesting things on Google than the accounts of Sheffield United...!!

 

How to off-road safely...for a start..:hihi:

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To be honest im sure there are more interesting things on Google than the accounts of Sheffield United...!!

 

How to off-road safely...for a start..:hihi:

 

Have you got a link.:hihi::hihi:.

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Have you got a link.:hihi::hihi:.

 

Handy tips here trav. You'd have been better in one of them:)

 

I love these "my debt's bigger than your debt" threads.

 

Two clubs, not much cash, not much debt. Stable but unspectacular.

 

We should all thank our lucky stars.

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Handy tips here trav. You'd have been better in one of them:)

 

I love these "my debt's bigger than your debt" threads.

 

Two clubs, not much cash, not much debt. Stable but unspectacular.

 

We should all thank our lucky stars.

 

I've got Jeep pal and I'll let you all into a little secret I've not got an off road bike.;).

Towd CB has been pulling someone's plonkers on here.;).

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