Often Partisan

Accounts released

Birmingham International Holdings have today released three sets of accounts to the stock exchange.

The accounts, which can be viewed here, here and here are for June 2011, December 2011 and June 2012.

As there is a lot to go through and I have a series of questions set up in my own notes I will leave detailed analysis until tomorrow when I can review where they are at. Suffice it to say questions about players pre-sold before the summer are already high in my mind.

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49 Responses to “Accounts released”

  • Pete says:

    I think players being sold is a given,there will have to be a big change in wage structure if we are still as we are now,so expect a big turn round in staff,If we sell the club then that may change things,

  • Kaje says:

    It looks like we’ve had two ayers sold behind our backs, with the sale happening in January and completing in the Summer.

    Rumours abound that one is Redmond.

    Quote from accounts – “Subsequent to the end of the reporting period, the football registrations of two players were contracted for sale during the winter transfer window in January 2013 and the said transfers are expected to completed in August 2013. The terms of the agreement are confidential between the two parties and are therefore not disclosed.”

    • matt says:

      what page is that on mate?

    • matt says:

      page 14 got it! ouch!

    • Kaje says:

      Rumour about it being Redmond has just been quashed from a super reliable source – not agreed anything, not moving.

      • Bluehobba says:

        I heard from a source (not sure if reliable but allegedly close to his family) that Redmond would rather give up football than play for another club and allegedly told the club so!!

        • masaccio says:

          Pressing the like button

        • chas says:

          AWW…You have GOT to love that quote.. Marvellous.. I hope it is true…

          • Glazey says:

            This is definitely wrong, after the first fa cup match against Leeds,which was Redmonds best game this season, he came off the pitch and said “that’s it, I’ll definitely get sold to someone after that!! He,’ll move, without a doubt!!!!!

  • Paulo says:

    Big read, but thank the lord they have been released. Obviously now comes the task of analysing them and seeing what surprises they hold ..or have hidden within them. Thing is, we all know some news is going to come out of this, as I for one, don’t trust those in BIHL or any agenda they have.

  • Bluehobba says:

    Could one be Butland even though we have sold him and loaned back, the relevant stuff to be completed in the Summer. Lots of reading there though. I think it could be days / weeks before we really get a grip of these accounts

    • Chris Smith says:

      Butland I’d say is one, the other could be the Caddis/Rooney loan swap. Would make sense.

  • tamuffblue says:

    Do not be surprised – astounded – astonished – flabbergasted – angry – suspicious – wary – OR ANY OTHER HUMAN EMOTION WHEN READING THIS CAREFULLY AND PROFESIONALLY PUT TOGETHER FIGURES – WE ALREADY KNOW THEY ARE MASTERS OF DECEPTION !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  • Dino Tiltoni says:

    I think the June 2012 auditor’s opinion is interesting. They don’t see how the company can continue to operate as a going concern and are unsure if the accounts are true and fair. Perhaps a sale is close?

  • chudlt says:

    How can a company continue to trade when it is selling its assets? Talk about 2 faced..Despite reassurances by Pannu that he is doing the best in reality he is selling players behind closed doors.

  • John King says:

    I reckon Marlon King to China (Is it a coincidence that he wont play again this season) and maybe Curtis Davies. The owners of our beloved club are so crooked that they could not lay straight in the bath……KRO.

  • Blackie says:

    King has had an operation and has rejected China

  • Louise says:

    If the accounts are in true and fair- why did they sign them off?

  • Bluehobba says:

    I reckon Almajir and the Blues trust will find out more about what has and is going on quicker than most. Lets not forget to enrol in the Blues Trust as they are acting on our behalf.

  • glyn rees says:

    If this is all that is wrong with these accounts and we can proceed with the sale, to a reasonable owner then I am delighted. It is worth any 2 players to get rid of this lot and get someone reliable in
    Dont ya think Kro4ever

  • zxcv says:

    I think it is Butland and Burke as it was strange how Burke found his form just at this time.

  • Bluehobba says:

    Would it be Rooney !!

  • BhamCityJulian says:

    Butland was sold in Jan. Re: Rooney why would Swindon pay six months ahead when their finances are up the creek too? Thoughts are it is two of King, Burke, Davies, Mullins and Ambrose

    • tmsblues says:

      I guess those 5 are higher earners, but I might question why anyone would want to pay for Mullins(poor form) or Ambrose (who was injured) in Jan. King has had an op therefore he’s unsaleable till proven recovered, Burke is possibly worth money because the option on his contract can be envoked in June I believe, However I would imagine that any sale to another club would have to be to a team that we would not play this season for reasons of conflict of interest. This could indicate someone like Curtis Davies to Norwich or other low Prem option? There is of course one other pre contract option, which is that the players registration has been purchased in advance by another party but not necessarily a club. One playerI just can’t see it being is Zigic whose contract is single handedly milking the club of 2.5 – 3million a year and so causing a great deal of our financial issues! Don’t get me wrong its not his fault but that of the idiots/owners who gave him the deal. Though it is a sad reflection of the state of the game that Ziggy’s agent laughs in the clubs face at our predicament and the player himself shows no embaracement or indication he’d like to help the club he ‘loves’ being at when offered options to move on! The Zigic milstone will weigh even heavier around our lower team budget necks next season as he collects his £60k per week whist a new £10k or so wage cap is placed on recruits.

  • ChrisG says:

    Here we go again with all the speculations & everyone knows someone who is a reliable source. Why can’t you all wait a day or so for Almajir to go through all this stuff as he can probably get his head round it better than most of us.

    • Marky mark says:

      Well said,

      We have waited forever to see them, may as well wait a little longer for someone we trust to pick them apart and fill us in on the gory details

    • Bluehobba says:

      I dont know any reliable sources and do rely on the fantastic work of Often Partisan / Almajir to keep us all in the loop with whatever he finds out. I only said what I heard and it wasn’t in the pub and I live 40 miles away. So I used the word allegedly more than once. Rumours would be more rife in Brum rather than where I live.

    • BhamCityJulian says:

      The key word is ‘confidential’. Unless the three parties agree to lift it anything we hear may or may not be accurate.

  • bluenoseneil says:

    Here here Chris!!

    It’s the bullshit that kills this club and its fan base…..and nothing more. Just wait for the goddamn FACTS to emerge before we start climbing on the proverbial high horses.

    The sad thing is you all know I am right, and we are all posting out of pure frustration, and that’s all…

    • Oldbluenose says:

      Neil;, Once again,!!. I am in full aggreemnt with you,!!.

      Frustration with this situation created by C,Y’s, indiscreet past catching up with him, [ and therefore us, suffering through it ], Is causing us all to get ” ratty ” with each other, in a way I doubt would occur at any other time, ?.

      I, openly admit I cannot ” read ” these published accounts like some of us who are more versed in this type of business, So I will ” sit-back ” and await Almajir’s and the Trust’s understanding of them,!!!.

    • chas says:

      Neil. both you and Chris are correct..and If I say that, it is a fact..;-)

  • sutton apex says:

    any company with a gearing ratio 104% is very risky – as we all know blues are in trouble and we must be brought – BIH are in big trouble !! the only way to survive another season is sell players, good job there is another parachute 8 million coming in !!

    • chris says:

      trouble is it’s £8 million less than this season, so unless we are sold by the end of May it means more big sales.

  • BhamCityJulian says:

    Is it £8m again?

  • utbb says:

    im sorry to be too think or too lazy to read properly but what does BCP group stand for? (birmingham city something?)

  • Quokkasskip says:

    As these accounts are unqualified it basically means they are not worth the paper they are written on.

    The big issue is that due to the CY loans loaded on the balance sheet we have net liabilities. Do we really have any more players to sell?

    They have written the ‘confidential’ post transfer window sale statement to try and give the image bihl is a going concern.

    One of these sales must be butland as that happened post June 2012. Other one could just be verbal, as I said the auditors have not signed off the accounts so the directors can write anything they like

    Summary is same as before. Slow death by 1000 Chinese paper cuts

  • Blooflame says:

    Well Rooney has definitely been sold, not sure if it is the public domain. We were all told he was on loan, but I was [at the time] he’s been sold. I happened to like Rooney, he was never given a good run. The likes of King who really should have scored more and should have played as a team member was always given preference.
    Our way forward is with the total sum of players being effective, no one shining star, just one shining unit

  • Blueboy88 says:

    Almajir do you think there is any truth in the TF is returning soon rumour ?

  • chris says:

    Massadio Haidara injured for Newcastle, it may mean Ferguson loan not being extended.

  • dazabcfc says:

    One of the players could be Jake jervis?

  • DoctorD says:

    Looking at company accounts like these always give me the willies no matter who they are, mainly because I can’t understand them.

    A quick glance suggests there is not much we didn’t already know — i.e. turnover plummeted after relegation due to the ending of Premiership TV income; players were sold to reduce costs; CY’s arrest didn’t do us any favours; things are still uncertain.

    But let’s wait for Al to do his in-depth analysis.

  • BhamCityJulian says:

    TF brought professionalism to the club’s set up, but sadly could not build a promotion winning team. He never quite unearthed enough gems.

    On the face of it have TF at the helm you would think would make you feel confident that the next consortium were bona fide. However would TF’s ego cause problems again? It was never a comfortable relationship with KB by all accounts?

    Could be another TV-AM?

    • Gary R says:

      To be honest I’d risk a bit of friction, rather than all the crap that’s going on at the moment!

  • Reebok says:

    The mystery players are butland and jervis


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