Teesside-2
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Wonder what the EXPENSES were?
Report into more losses at Teesside. The public have added a few comments on the page.
https://www.gazettelive.co.uk/news/t...demic-25760770
Report into more losses at Teesside. The public have added a few comments on the page.
https://www.gazettelive.co.uk/news/t...demic-25760770
This looks odd - haven't the accounts already been released and discussed? This is probably a report of some internal TVCA finance committee or such like.
Grow up Beefer, it's explained in the article - it's the re-furb of the terminal etc, not the "Duck house in the moat" type expenses you're implying.
Wonder what the EXPENSES were?
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Facts -Accounts - Expenses, filed 14th Dec 2022
This looks odd - haven't the accounts already been released and discussed? This is probably a report of some internal TVCA finance committee or such like.
Grow up Beefer, it's explained in the article - it's the re-furb of the terminal etc, not the "Duck house in the moat" type expenses you're implying.
Grow up Beefer, it's explained in the article - it's the re-furb of the terminal etc, not the "Duck house in the moat" type expenses you're implying.
A few facts from the latest Teesside Airport Ltd accounts dated 14th Dec 2022 for the previous year.
The latest file downloads into a pdf presentation with a lot of financial information provided by the company/auditors.
https://find-and-update.company-info...filing-history
Profit and loss account: -£79m. page 13
Liabilities: -£52m
Expenses are shown on page 15 of the filing history file = -£2.3 million for the year. Not refurbishing the building SWB. More to do with exiting contracts.
Obligations for the rail terminal.
Page 15: Summary of non disclosure exemptions:
No cashflow presented by the company?
No disclosure of remuneration of key management personel.
Airport Directors payments: £212,000. I think they are the individuals named in the documents, (councillors?).
Assets under construction £1m
Depreciation expense -£602,114.
Employees 115, up from 89 in 2021. Staff costs: £4.1m.
Admin staff: 45 (2021 staff 27). Operational staff: 75.
Companies valuation of the asset: £30m. Up from £20m the previous year.
A lot of figures, and losses. Airport Pension plan is now paid by the councils.
It will be interesting to see how long the Mayors TVA will have the funds to continue to prop the airport up.
A mention of the 50/50 split. £1m investment - Not sure if thats the south side company, or the North side?
Needs an accountants eye to work out the rest of the forecasts, and estimates shown. Some bedtime reading SWB
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Seems that they have high hopes for Freeport status. The 50/50 split is for the Southside business park
No accountant but a couple of other things caught my eye:
- Looks like TIA paid for the Draken hangar;
- All borrowing is from TVCA (i.e. you and me), rather than on the commercial markets;
- from memory, the councillor directors don't get paid - two of the current independent directors are also associated with firms who have been paid for consultancy
- apparently the freight centre is in a 'purpose-built' hangar
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It's who you know.
That's a lot of money to lose per passenger!
But its not what you know, its WHO you know to be given a job at the airport £4.1m - airport salaries inthe accounts
The management won't disclose the cashflow, or the key management salaries! Nobody is monitoring the Tax payers money.
I expect the whole airport site will be handed over in a couple of years to a couple of chaps who are good friends of you know who, given the the 3 muskateers dealings elsewhere in the area.
But its not what you know, its WHO you know to be given a job at the airport
£4.1m - airport salaries inthe accountsThe management won't disclose the cashflow, or the key management salaries! Nobody is monitoring the Tax payers money.
I expect the whole airport site will be handed over in a couple of years to a couple of chaps who are good friends of you know who, given the the 3 muskateers dealings elsewhere in the area.
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In fact my question is answered.
Aberdeen becomes 7 x weekly with Belfast and Dublin gone.
Major loss! Be interested in the mayor’s narrative on this one.
(Reference SeanM1997).
Aberdeen becomes 7 x weekly with Belfast and Dublin gone.
Major loss! Be interested in the mayor’s narrative on this one.
(Reference SeanM1997).