It may be an issue but hopefully that's where money from Sponsors comes it and the sale of season tickets to those who have not taken up the offer and new members.

Quote ="Sandal Cat"It may be an issue but hopefully that's where money from Sponsors comes it and the sale of season tickets to those who have not taken up the offer and new members.'" True - Bradford are also doing the offer here :- www.bradfordbulls.co.uk/tickets/paymentplan

Quote ="Sandal Cat"It may be an issue but hopefully that's where money from Sponsors comes it and the sale of season tickets to those who have not taken up the offer and new members.'" True - Bradford are also doing the offer here :- www.bradfordbulls.co.uk/tickets/paymentplan

In basic terms the accounts are quite hard to interpret because the Company has filed abbreviated accounts (much like the majority of small businesses in the UK). As mentioned the only people who will know the full picture will be the shareholders who will, under companies act receive full set of statutory accounts. These are presented at the companies AGM at which point they are approved by the directors.

Looking at what info is there the Company made a loss last year of roughly £1.2m – given the low value of the companies fixed assets you have have to conclude that the new stands were expensed via the Profit and loss account. Probably on the basis that the improvements were deemed as repairs and therefore required to bring the stadium into proper repair to carry out the trade of the business.

In terms of the balance sheet – the company has very little in the way of actual assets but has a number of significant loans, which will be shown as liabilities thus resulting in the £1.2m net liability position mentioned. The company has £925k of liabilities due during the year and £444k of liabilities due in greater than one year.

The company owes West Yorkshire Windows £450k which for all intense and purposes is the amount due greater than one year i.e. payable when it can. However that means that at last year end somewhere along the way the Club owe an independent third part almost £1m.

The accounts don’t contain any detail on this at all but you would have to assume that this is costs for the stadium repair awaiting payment and then say a few hundred thousand to other creditors – probably HMR&C and salaries timing dependant.

As an accountant you need to know more about what’s in the short term creditor to determine if you’re in a mess. Part of the net liabilities position comes from not putting the stadia costs on the balance sheet put through the P&L accounts.

The concern would be the cash figure of only £1500 as this won’t pay the debts and its either the Chairman or the bank who are going to have to stump up the cash to get the liabilities paid down.

But like you say those accounts are 18 months old now and you are still going so that has probably been sorted out by now.

HEY BUZZ OFF! There's no place for optimism on this forum.

Hi I am neither trying to stir the brown stuff or a Wakefield fan. But there is so much doom and gloom on here that is not really warranted. The accounts on Public record are out dated and first year trading only. AG has loaned the company money ( I presume £444,627) and I doubt he wants to fold the club and start again. These figures are from your accounts:

Balance Sheet

Total Fixed/Non Current Assets 63,659
Total Current Assets 100,056
Total Current Liabilities 925,483
Total Long Term Liabilities 444,627
Total Provisions 0
Total Net Worth (excludes intangible fixed assets) Minus -1,206,395

Indicators

Debtors 58,618
Trade Debtors (if disclosed) - - -
Working Capital - - Minus -825,427

I think they would be well advised to file new accounts as soon as possible and not leave it until November.

Cheer up.

First Winding Up petetion due to be heard today from 1400 onwards. I assume from the new deal Kirmond has just signed that the club are confident its going to be resolved.

"creditors and as such HMRC will advertise a winding up petition on the 11th July. This debt will be repaid before any action and we had hoped they would accept our payment terms without advertising the information." www.wakefieldwildcats.co.uk/news ... a/2013/07/ These threads are getting tedious - surely it's time for this to be locked?

"creditors and as such HMRC will advertise a winding up petition on the 11th July. This debt will be repaid before any action and we had hoped they would accept our payment terms without advertising the information." www.wakefieldwildcats.co.uk/news ... a/2013/07/ These threads are getting tedious - surely it's time for this to be locked?

Quote ="RDM""creditors and as such HMRC will advertise a winding up petition on the 11th July. This debt will be repaid before any action and we had hoped they would accept our payment terms without advertising the information." www.wakefieldwildcats.co.uk/news ... a/2013/07/ These threads are getting tedious - surely it's time for this to be locked?'" ... and the Macron one?

Quote ="RDM""creditors and as such HMRC will advertise a winding up petition on the 11th July. This debt will be repaid before any action and we had hoped they would accept our payment terms without advertising the information." www.wakefieldwildcats.co.uk/news ... a/2013/07/ These threads are getting tedious - surely it's time for this to be locked?'" ... and the Macron one?

According to @johnbateman1 on twitter, the bulls players have not been paid, just saying.

Denied by the club (Robbie Paul) that the players had got the date wrong for when they were paid this month. Depends on who you want to believe. Players would do better than running to Twitter to whinge all the time.

Regarding the Bulls - it sounds like a mix-up. We usually get paid the last thursday of the month so in this instance 25th July. Robbie Paul is saying next Wednesday 31st July. Technically the players are right. They expected getting paid on Thursday and this hasn't happened.

I'm sure that in most contracts of employment, Twitter is not the first point of call for raising a grievance; regardless of the situation, he's a silly billy.

Sounds like a player error in understanding when pay day is but what it does reveal is how nervous this particular Bradford player is about his club situation.

Seems like he's been ready to jump on the first sign of any financial problems!

Or he's too smart to check his actual pay date and spent up early!

Couldn't provident have sorted him a loan till pay day?

Depends on the company.

My previous job we got paid last working day of the month (which would be next Weds). Current job is paid on the last Friday of the month (yesterday).

You would think that if they have been paid on the same date each month or, say the last Thursday of each month it would be straight forward.
You would have though that there was no need for twitter in this instance and he's not doing himself any favours.
However, maybe he's right and they haven't been paid on the correct day/date.

Probably due to the monies owed to the Bulls by AG.....think the Bulls were another CCJ on the list this year.

Not the case according to Mr Khan, a funding issue...

And we owed money to the old bulls which has been paid

Mr G has just said on Twitter that the new company was formed as a vehicle from which to operate the new college; if that doesn't come off, they may use it for the stadium management company.

Another one to stop moaning about.

off to get my st's tomorrow! personally think we will be fine and the crowds we are getting are ace!! well done imho to all the team!

"The Bradford T&A are reporting that it is understood the third party funding will come in the form of a bank loan."
The bulls appear to be having to get a bank loan to pay players wages; this goes to show how fragile SL clubs are...it's not just us.
I'm glad this has come to the attention of the RL media as when it is us it appears to be publicised all too quickly.
I wonder how many other clubs struggle just as much, and how much real scrutiny is put into (the real) club finances around SL.
A wealthy backer does not a competent and efficient business make - pillars of sand etc etc.

Half of superleague are teetering on the brink. The game isn't in a great place at the minute in this country hence the rfl's desperation to change everything yet again. Sadly the convoluted plan they have come up with will probably turn as many fans and sponsors away from the sport as it attracts.

Totally agree and what is needed in difficult times is strong management and stability and we have neither within the sport as a whole.