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 Post subject: Bulls Accounts up to Nov 2023
PostPosted: Mon Sep 16, 2024 6:41 pm 
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 Post subject: Re: Bulls Accounts up to Nov 2023
PostPosted: Mon Sep 16, 2024 9:17 pm 
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22k profit and 887k liabilities. Would be good to have a breakdown of the liabilities.






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 Post subject: Re: Bulls Accounts up to Nov 2023
PostPosted: Tue Sep 17, 2024 12:03 am 
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Bullseye wrote:22k profit and 887k liabilities. Would be good to have a breakdown of the liabilities.


Probably the usual of Tax Tax and more Tax!! :wink: :D






The phrase politically correct is in itself politcally incorrect so should be rephrased politically stupid!

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 Post subject: Re: Bulls Accounts up to Nov 2023
PostPosted: Tue Sep 17, 2024 8:13 am 
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Speculation is that it's directors loans and what Chalmers supposedly put into the club - apparently he doesn't want re-paying but if that's the case it then it should be written off.






"If you start listening to the fans it won't be long before you're sitting with them," - Wayne Bennett.

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 Post subject: Re: Bulls Accounts up to Nov 2023
PostPosted: Tue Sep 17, 2024 11:27 am 
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There was a quote from Big Nige saying that this year the loan repayments kick in for the loan the club received from government/RFL during Covid... could a lot of this be linked to that?






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 Post subject: Re: Bulls Accounts up to Nov 2023
PostPosted: Tue Sep 17, 2024 12:15 pm 
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Bullseye wrote:Speculation is that it's directors loans and what Chalmers supposedly put into the club - apparently he doesn't want re-paying but if that's the case it then it should be written off.


Perhaps a business loan is useful against your own overall business taxes, shame Adey G doesn't post anymore! :(






The phrase politically correct is in itself politcally incorrect so should be rephrased politically stupid!

If you like old type radio comedy/ dramas etc listen to //pumpkinfm.com/

Statistically speaking you have a better chance of getting dead the older you get!

Thank god only when you find a religion that passes the truth test!

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 Post subject: Re: Bulls Accounts up to Nov 2023
PostPosted: Tue Sep 17, 2024 2:51 pm 
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Any COVID loan would have been in the balance sheet from the moment it was issued, even if repayments kicked in down the line.

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 Post subject: Re: Bulls Accounts up to Nov 2023
PostPosted: Tue Sep 17, 2024 3:22 pm 
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Adey commented as follows:

Without knowing the details (of the liabilities), and especially any agreed but not contractual deferred payment arrangements especially for the current portion, it is impossible to tell (if the liabilities are a bad sign).

The balance sheet shows an entity that is technically insolvent, presumably reliant on creditors not seeking repayment of debts that are due. And a HUGE increase in "other creditors" (usually things like directors' loans, but who knows?) which appears to have been used to pay off nearly all the bank loans and overdrafts. On the face of it, this COULD be a pretty positive development - PROVIDED they ARE mostly loans, and from friendly parties on favourable terms. But it remains a huge amount of cash flow the club will have to generate, to repay them. Note the accounts are unaudited.






"If you start listening to the fans it won't be long before you're sitting with them," - Wayne Bennett.

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 Post subject: Re: Bulls Accounts up to Nov 2023
PostPosted: Wed Sep 18, 2024 5:22 am 
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The phrase politically correct is in itself politcally incorrect so should be rephrased politically stupid!

If you like old type radio comedy/ dramas etc listen to //pumpkinfm.com/

Statistically speaking you have a better chance of getting dead the older you get!

Thank god only when you find a religion that passes the truth test!

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 Post subject: Re: Bulls Accounts up to Nov 2023
PostPosted: Wed Sep 18, 2024 1:01 pm 
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Most companies have debt. Making a loss is another thing so as Adey said it's not necessarily a cause for concern? The company I work for carries an average of 37.1bn euros of debt but it's far from insolvent.

I guess the next concern is the amount of debt we'll add buying the lease.

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