DIR Return Create A Forum - Home
---------------------------------------------------------
ComeAllWithin (Harlequins Rugby)
HTML https://comeallwithin.createaforum.com
---------------------------------------------------------
*****************************************************
DIR Return to: ComeAllWithin Board
*****************************************************
#Post#: 117223--------------------------------------------------
Financials - Harlequins Football Club Limited
DIR By: Quinspur
Date: December 21, 2023, 5:21 pm
---------------------------------------------------------
I see the annual accounts of Harlequin Football Club Limited
have been published, as have those of the parent company. .
Losses look to have widened. Total comprehensive loss is £3.6
million. Anyone who can analyse these sort of things care to
comment ?
HTML https://find-and-update.company-information.service.gov.uk/company/03213073/filing-history
#Post#: 117225--------------------------------------------------
Re: Financials - Harlequins Football Club Limited
DIR By: deadlyfrom5yardsout
Date: December 22, 2023, 1:48 am
---------------------------------------------------------
I can analyse that easily. Get your paddles out.
#Post#: 117229--------------------------------------------------
Re: Financials - Harlequins Football Club Limited
DIR By: poorfour
Date: December 22, 2023, 4:24 am
---------------------------------------------------------
The very simple bottom line is that costs went up (probably
mostly inflation, possibly the expansion of the women's
programme), but revenue shrank slightly (probably down to loss
of several home games, BG14 being moved, knock on impact on
BSKO).
It must be hugely frustrating for the club and its owners, as
without those factors they would probably have been pretty close
to breakeven. The key thing will be to see whether the next set
of accounts show the club adapting successfully to the smaller
league and getting back towards breakeven.
This reemphasises what we already knew: the club only exists
through the patience and willingness to invest of its owners. As
fans we should bear these finances in mind the next time we're
inclined to gripe about prices, appeals to a wider audience or
the very existence of the Twickenham games. To be sustainable,
the club needs to grow revenue faster than costs. All of those
things play a part in that.
#Post#: 117230--------------------------------------------------
Re: Financials - Harlequins Football Club Limited
DIR By: T-Bone
Date: December 22, 2023, 4:30 am
---------------------------------------------------------
Last season the rescheduled big game must have put a huge dent
in income. It then had a knock-on effect on bsko, so another hit
to income
#Post#: 117237--------------------------------------------------
Re: Financials - Harlequins Football Club Limited
DIR By: Quinky
Date: December 22, 2023, 7:26 am
---------------------------------------------------------
I may be alone in thinking this, and I know it would likely be a
tiny amount in the big scheme of things, but I sometimes think
the club miss out by having a fairly limited amount of
merchandise.
#Post#: 117241--------------------------------------------------
Re: Financials - Harlequins Football Club Limited
DIR By: Fursty
Date: December 22, 2023, 8:18 am
---------------------------------------------------------
Rugby income (i.e tickets) was down c£800k - given the increase
in ticket prices and the good attendance of matches at the stoop
last last year, we can assume that a combination of the moving
of BG and loss of Worcester and Wasps games cost the club
c£1.5m. Possibly even more.
A couple of other points to note:
Depreciation is c£500k which is a non cash expense and there’s
interest paid to the owners of c£600k
All in it actually makes quite positive reading and shows the
club could be close to breaking even this year (especially given
the lower salary cap).
#Post#: 117245--------------------------------------------------
Re: Financials - Harlequins Football Club Limited
DIR By: Fearless Fred
Date: December 22, 2023, 9:31 am
---------------------------------------------------------
--- Quote from: Quinky link ---
>
> I may be alone in thinking this, and I know it would likely be
a tiny amount in the big scheme of things, but I sometimes think
the club miss out by having a fairly limited amount of
merchandise.
>
--- End Quote ---
The problem is the club have to walk the tightrope of not enough
vs too much in terms of merch. People have a finite amount of
disposable income to spend at the shop. If the club get lots of
lines of merch, that's an outlay that they might take a few
seasons to end up selling, meaning it would actually be a drag
on the financials for a number of years. Also, what's of
interest to one person may not be of interest to enough people
to justify getting made. The club used to sell all sorts of
different quins-branded lines like Golf sets, tankards, hip
flasks, umbrellas, pencil cases, etc. That all costs money, but
realistically there's only a finite set of fans that will buy
each. It's a case of trying to find the right balance.
#Post#: 117247--------------------------------------------------
Re: Financials - Harlequins Football Club Limited
DIR By: Quinky
Date: December 22, 2023, 10:24 am
---------------------------------------------------------
--- Quote from: Fearless Fred link ---
>
> The problem is the club have to walk the tightrope of not
enough vs too much in terms of merch. People have a finite
amount of disposable income to spend at the shop. If the club
get lots of lines of merch, that's an outlay that they might
take a few seasons to end up selling, meaning it would actually
be a drag on the financials for a number of years. Also, what's
of interest to one person may not be of interest to enough
people to justify getting made. The club used to sell all sorts
of different quins-branded lines like Golf sets, tankards, hip
flasks, umbrellas, pencil cases, etc. That all costs money, but
realistically there's only a finite set of fans that will buy
each. It's a case of trying to find the right balance.
>
--- End Quote ---
Yes, I can appreciate that.
I think there must be a way around it. Perhaps partnering with
someone (not Castore) who puts out better quality goods might be
a start. Or even licensing the logo/name (maybe they already
do?). But as mentioned before, it's probably inconsequential in
terms of value.
#Post#: 117256--------------------------------------------------
Re: Financials - Harlequins Football Club Limited
DIR By: Rocker
Date: December 23, 2023, 2:37 am
---------------------------------------------------------
The thing you have to remember is that the ltd company being
discussed is part of a group. Last time I looked it was Blue Sky
Leisure or something like that. There are various revenue
streams that come into that and the ground is used for things
under BSL that aren't reflected in HFC Ltd's accounts. I don't
know where ownership of the ground lies of course, but arguably
without the club the ground is less attractive as an event
venue, particularly rugby hospitality.
#Post#: 117257--------------------------------------------------
Re: Financials - Harlequins Football Club Limited
DIR By: deadlyfrom5yardsout
Date: December 23, 2023, 3:06 am
---------------------------------------------------------
--- Quote from: Rocker link ---
>
> The thing you have to remember is that the ltd company being
discussed is part of a group. Last time I looked it was Blue Sky
Leisure or something like that. There are various revenue
streams that come into that and the ground is used for things
under BSL that aren't reflected in HFC Ltd's accounts. I don't
know where ownership of the ground lies of course, but arguably
without the club the ground is less attractive as an event
venue, particularly rugby hospitality.
>
--- End Quote ---
But extremely attractive as a piece of prime West London real
estate appreciating in value by the second plus, their loans to
the club are attracting interest payments from the club too.
i'll have some of that!!
*****************************************************
Page 1 of 3
DIR Next Page