Leigh declare £395,000 profit to 20 November 2020

[sweaty craiq]

and not a penny in government loans.

[Whippet13]

Nice headline but would like to see the accounts listing any liabilities carried forward plus interim accounts for 2020/21 before making a judgment. If DB has chucked in enough of his own cash then it's easy to declare a profit. Sustainability is the important thing, whether from trading income or DBs bank account. Not sure why Leigh would want to declare a £400k profit given the corporation tax that will need to be paid. Unless it is just a trading profit of course.

[Tommygilf]

19 minutes ago, sweaty craiq said:

and not a penny in government loans.

No just the furlough scheme...

[sweaty craiq]

1 minute ago, Whippet13 said:

Nice headline but would like to see the accounts listing any liabilities carried forward plus interim accounts for 2020/21 before making a judgment. If DB has chucked in enough of his own cash then it's easy to declare a profit. Sustainability is the important thing, whether from trading income or DBs bank account. Not sure why Leigh would want to declare a £400k profit given the corporation tax that will need to be paid. Unless it is just a trading profit of course.

LEIGH SPORTS VILLAGE STADIUM SALE WAY LEIGH LANCASHIRE WN7 4JY

---

Latest financial results as at 30 November 2020

Cash in bank

£411.80k

Current assets

£530.74k

Current creditors

£271.65k

Shareholders funds

£375.51k

 

Do a simple google search on sporting club leigh for anything else you may need

 

 

 

 

[sweaty craiq]

2 minutes ago, Tommygilf said:

No just the furlough scheme...

You need to check the movement in the previous years also just Google sporting club leigh financial results, they are a bit 'wow' though so you may get somewhat upset - Fantastic sponsors, fans and owners have got us in this brilliant position to grow. 

[Tommygilf]

2 minutes ago, sweaty craiq said:

LEIGH SPORTS VILLAGE STADIUM SALE WAY LEIGH LANCASHIRE WN7 4JY

---

Latest financial results as at 30 November 2020

Cash in bank

£411.80k

Current assets

£530.74k

Current creditors

£271.65k

Shareholders funds

£375.51k

 

Do a simple google search on sporting club leigh for anything else you may need

 

 

 

 

Is central funding is part of the "Assets"? Given the fluctuation and lack of any club owned infrastructure? 

Writing as a novice.

[sweaty craiq]

Just now, Tommygilf said:

Is central funding is part of the "Assets"? Given the fluctuation and lack of any club owned infrastructure? 

Writing as a novice.

Do clubs not declare that as income ? These were prior to SL begging Leigh to help them out btw

[Tommygilf]

1 minute ago, sweaty craiq said:

You need to check the movement in the previous years also just Google sporting club leigh financial results, they are a bit 'wow' though so you may get somewhat upset - Fantastic sponsors, fans and owners have got us in this brilliant position to grow. 

I've had a look at the link you posted its looks alright yeah.

That doesn't mean a statement of "no government loans" either as a dig at anyone else or a sort of self aggrandisement is true however? As its well known that the 2020 Championship clubs were able to rely on that lifeline last season.

[Tommygilf]

1 minute ago, sweaty craiq said:

Do clubs not declare that as income ? These were prior to SL begging Leigh to help them out btw

No idea, just trying to account for this figure quadrupling in 5 years. Have they bought any property?

[sweaty craiq]

Just now, Tommygilf said:

I've had a look at the link you posted its looks alright yeah.

That doesn't mean a statement of "no government loans" either as a dig at anyone else or a sort of self aggrandisement is true however? As its well known that the 2020 Championship clubs were able to rely on that lifeline last season.

so it looks 'alright', no government lans means just that - the club didn't borrow today to pay back tomorrow to achieve.

[JohnM]

The same site, companiesintheuk shows 

Average house price in WN7 4JY

£6,933,000.

[sweaty craiq]

1 minute ago, Tommygilf said:

No idea, just trying to account for this figure quadrupling in 5 years. Have they bought any property?

It's called successful people running a successful business - I realise some may find that unpalatable but it is what makes the commercial world go round, and success attracts success.

[JohnM]

33 minutes ago, sweaty craiq said:

and not a penny in government loans.

Well done on the results. Doesn't free you from comment, though.

[Tommygilf]

3 minutes ago, sweaty craiq said:

so it looks 'alright', no government lans means just that - the club didn't borrow today to pay back tomorrow to achieve.

Ah ok, no furlough then

[sweaty craiq]

1 minute ago, JohnM said:

The same site, companiesintheuk shows 

Average house price in WN7 4JY

£6,933,000.

It would do, you have LSV, a pub, a supermarket, a hotel and a college - although living in Gods own backyard has become very expensive of late, and rightly so btw, the checkpoints in Bickershaw and Hindley Green are working

[sweaty craiq]

1 minute ago, Tommygilf said:

Ah ok, no furlough then

I didn't know furlough as compensation for having to keep your employees away from work was repayable (but you do learn things everyday from such fonts of knowledge), despite Leigh keeping its players in work for much longer due to 1. the potential restarting of the season 2. to fulfil TW fixtures if needed.

[Tommygilf]

1 minute ago, sweaty craiq said:

It's called successful people running a successful business - I realise some may find that unpalatable but it is what makes the commercial world go round, and success attracts success.

I'm genuinely asking? No need to be so precious.

The website isn't clear whether assets could be liquid and therefore a repetition of the stated club cash account plus miscellaneous other stuff owned as part of the operation of the club. I'm only asking, if you don't know that's ok.

[sweaty craiq]

1 minute ago, Tommygilf said:

I'm genuinely asking? No need to be so precious.

The website isn't clear whether assets could be liquid and therefore a repetition of the stated club cash account plus miscellaneous other stuff owned as part of the operation of the club. I'm only asking, if you don't know that's ok.

Not being a bean counter by trade, I look for things like CASH in bank movement among others, as the club has little assets in not owning the ground yet. 

Out of interest how do others clubs make this area clear for you?

[Tommygilf]

Just now, sweaty craiq said:

I didn't know furlough as compensation for having to keep your employees away from work was repayable (but you do learn things everyday from such fonts of knowledge), despite Leigh keeping its players in work for much longer due to 1. the potential restarting of the season 2. to fulfil TW fixtures if needed.

Everyone is going to have to pay it back one way or another. Leigh (like every other championship and L1 club) were able to keep their players on that scheme far longer - and profits like the above are probably the reason why SL clubs have been so stingy towards Leigh with the central funding. That's not a move I agree with in the slightest, but it is the logic.

Leigh couldn't keep their players in work and get furlough, that's not how it worked.

[Tommygilf]

3 minutes ago, sweaty craiq said:

Not being a bean counter by trade, I look for things like CASH in bank movement among others, as the club has little assets in not owning the ground yet. 

Out of interest how do others clubs make this area clear for you?

The assets figure is bigger hence why I was drawn to it.

No one else has posted *cough*boasted*cough* these for any other club. I'm just interested. If they ever do it tends to be through articles. Leeds put up a few around the stadium rebuild announcement. Leeds United recently posted theirs.

This really is a topic you have to go in deep to understand (the football one's are nightmares) which is why I was asking if Leigh had bought any property etc. a gym or training facility for example. Just trying to get a better picture.

[sweaty craiq]

5 minutes ago, Tommygilf said:

Everyone is going to have to pay it back one way or another. Leigh (like every other championship and L1 club) were able to keep their players on that scheme far longer - and profits like the above are probably the reason why SL clubs have been so stingy towards Leigh with the central funding. That's not a move I agree with in the slightest, but it is the logic.

Leigh couldn't keep their players in work and get furlough, that's not how it worked.

So SL clubs decided to only offer £1m to the club that bailed SL out, despite not knowing who that club would be at the time............................ this is getting good now, carry on

[sweaty craiq]

1 minute ago, Tommygilf said:

The assets figure is bigger hence why I was drawn to it.

Have you looked at the assett breakdown and its changes, cash and creditors owed are the reasons its up 400k. To put it simply the money going in paid down creditors by 240k and increased the bank balance by 160k - this results in the huge nett assett increase - I am sure you told me of some business degree you had? If not I have you confused with someone else so apologies.

[Tommygilf]

2 minutes ago, sweaty craiq said:

Have you looked at the assett breakdown and its changes, cash and creditors owed are the reasons its up 400k. To put it simply the money going in paid down creditors by 240k and increased the bank balance by 160k - this results in the huge nett assett increase - I am sure you told me of some business degree you had? If not I have you confused with someone else so apologies.

Oh cool fair enough. Its good to have positive finances. 

Nah my degrees are in History!

[Spidey]

38 minutes ago, sweaty craiq said:

It's called successful people running a successful business - I realise some may find that unpalatable but it is what makes the commercial world go round, and success attracts success.

The measure of success of a sporting club is results on the field and trophies in the cabinet

[Bulls2487]

1 hour ago, sweaty craiq said:

and not a penny in government loans.

Not every club has the luxury of a rich backer. You seem to be making out clubs who took out a government loan should be seen as a negative. Leigh also will have taken advantage of the Furlough scheme saving them 80% on player salaries.