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="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="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="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="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.