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Leyton Orient Fans' Trust
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Latest club accounts raise questions
10/4/2016

Leyton Orient Fans' Trust (LOFT) has noticed that the Leyton Orient Football Club Limited accounts for 2014/15 have been filed.

The loss for last season - which included the 1 million proceeds for Moses Odubajo, featured four managers but ended in relegation - appears to have been an unprecedented 4.4
million.

Unfortunately, only Abbreviated Accounts have been filed at Companies House and there are few notes to explain the figures, so as fans and shareholders we are left with many questions:

  • How exactly have the 2014/15 losses been covered by Mr Becchetti or his family's Leyton Orient Holdings Limited - whose Accounts filing we note is overdue- and where does this feature on the submitted Accounts?
  • We were informed in January by the Leyton Orient CEO Alessandro Angelieri that all differences between costs and operating turnover were being covered by "capital  injections" from the President that were not recallable, rather than loans. Was that definitely the case at the time of
    these Accounts, because it is completely unclear how the operating losses were covered?
  • Who are the major "Creditors: Amounts Falling Due Within One Year", which has increased by 3 million to over 6 million?
  • Will Leyton Orient's minority shareholders receive a fuller set of accounts showing summary profit and loss and a more detailed balance sheet than the abbreviated accounts?
  • Will Leyton Orient's Directors be holding a shareholders' meeting to explain the financial situation and outline future plans of the Club's majority shareholder? LOFT firmly believes Directors of all senior football clubs should make their financial decisions and objectives clear, and that the custodians of the Club must be financially open and
    accountable to their supporters on a regular basis.
  • In light of the unprecedented increase in operating losses last season, what is the projected loss for 2015/16, and what planned budget will be sanctioned for next season (whatever League we are in)?
  • Will the Leyton Orient President, Francesco Becchetti, meet with fans' representatives and/or shareholders to answer questions & discuss his stewardship and objectives? Despite many repeated requests from us, and repeated assurances from his representatives that this would happen, he has completely avoided doing so to date.




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