Well, I could be wrong about leasehold disclosures.
Looking at the 2023 accounts for St Helens, they include a 50 year long term leasehold valued at an eye watering £31 million. However, strip out this leasehold and the net liabilities stand at an astonishing £29 million. Leaving out the surplus on revaluation, Saints lost £2 million in 2023. Blumming heck. And Saints' ultimate parent company, Crowther Street Holdings Limited, is incorporated in the British Virgin Islands