[PopTart]

Re: Relegation Confirmed : Sat Sep 16, 2023 7:34 pm  

MOPSEY LIVES ON wrote:

They are on there. The balance sheet shows net assets of £754,393. On the face of it it looks good, however it only looks good on paper. There are fixed assets of £6,302,584 which is the value of the land and buildings. Current assets of £482,566. Against this there are over £800,000 of creditors falling in one year and over £5m in creditors falling due after more than one year. So we have net assets but only if you can sell the ground to pay the creditors. The true position is that we have over £6m in creditors and very little if no means to repay the creditors. You can paint whatever picture you want on paper but in truth we need the takeover completed

Those accounts are a year old.
The director loans are not going to be transferred and the stadium and other income pays the other loans, same as everyone else who has a mortgage.

[PopTart]

Re: Relegation Confirmed : Sat Sep 16, 2023 7:35 pm  

Prince Buster wrote:

I did say, Ellis will most likely not take directors loans, at least I thought I did.
The accounts have not been filed at companies House, I agree. But any due diligence will have up to date on going trading figures , I know you will not be party to them but others are

Are you party to them?

Re: Relegation Confirmed : Sat Sep 16, 2023 7:35 pm  

All of that debt is serviced. All payment schedules are up to date.

What point are you trying to make?

Every club - indeed every business - runs debts.

It's a straight forward principle of business practice.

Of course, if we start to have less income coupled with rising costs, servicing the debt can become problematic. Ask Bradford.

Re: Relegation Confirmed : Sat Sep 16, 2023 7:48 pm  

Do you know slugger asks a reasonable question. I put in my five penneth to help him out with what I know and then all this.

Re: Relegation Confirmed : Sat Sep 16, 2023 7:52 pm  

Prince Buster wrote:

Do you know slugger asks a reasonable question. I put in my five penneth to help him out with what I know and then all this.

Pop Tart asked you a reasonable question also.

Why the chippy response?

I don't get it.

[PopTart]

Re: Relegation Confirmed : Sat Sep 16, 2023 7:53 pm  

Prince Buster wrote:

Do you know slugger asks a reasonable question. I put in my five penneth to help him out with what I know and then all this.

I was just asking because you said you didn't think I'd see the current accounts. Which is correct, but as you'd posted a number I assumed you meant you did have access to them.

Re: Relegation Confirmed : Sat Sep 16, 2023 8:02 pm  

PopTart wrote:

Those accounts are a year old.
The director loans are not going to be transferred and the stadium and other income pays the other loans, same as everyone else who has a mortgage.

yes they are the accounts for 2022 which have just been filed, the latest ones on companies, are you saying we are now in a better position

[PopTart]

Re: Relegation Confirmed : Sat Sep 16, 2023 8:11 pm  

MOPSEY LIVES ON wrote:

yes they are the accounts for 2022 which have just been filed, the latest ones on companies, are you saying we are now in a better position

I don't know. I haven't seen them, but I can say you can't make judgements in the current state of the club based on those accounts.

I don't really understand why you are so worried about them.
Debt is just the way the world works and we have a way of servicing the loans as, unlike a house, this asset earns money...providing they finish it soon.

Re: Relegation Confirmed : Sat Sep 16, 2023 8:32 pm  

imwakefieldtillidie wrote:

I said after the Hull friendly it was a low quality squad. Vastman told me I was wrong and that I was a low quality fan. I wonder if he'll come back tonight and apologise.

No complaints from me, we were the worst team and deserve to go down. Time to clear the decks and start the rebuild.

On another note where is that wind bag these days?

Anybody who knew anything about rugby league knew we were in trouble at the Featherstone game
The buck stops with Carter I don’t blame Applegarth he did his best and is the scapegoat for the total and utter mismanagement of the club over the last 4 seasons

Re: Relegation Confirmed : Sat Sep 16, 2023 9:00 pm  

GET EM ON SIDE REF wrote:

On another note where is that wind bag these days?

Anybody who knew anything about rugby league knew we were in trouble at the Featherstone game
The buck stops with Carter I don’t blame Applegarth he did his best and is the scapegoat for the total and utter mismanagement of the club over the last 4 seasons

he's been a Facebook a few times then he's vanished again