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Leigh declare £395,000 profit to 20 November 2020

sweaty craiq

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sweaty craiq

sweaty craiq

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3 minutes ago, Bulls2487 said:

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.

Very true, but I understand Derek hasn't had to tip up, except cash flow help, for 4 years - he has wrote off a big chunk of his DL's though in that period.

I estimate Furlough would have benefitted the business £400k in the 6 months, but that Income would have suffered by a similar number, greater if we had won promotion.

The facts are the underlying business is very healthy, thanks to good people and good business sense, supported by fans and sponsors.


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Whippet13

Whippet13

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58 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
 
 
 
 

This just shows a pile of cash has turned up in the bank account. If DB is ploughing it in then that is great, well done to DB, but it doesn't mean Leigh RL is turning a profit as a trading enterprise.

sweaty craiq

sweaty craiq

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10 minutes ago, Spidey said:

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

Aaahhh, the buy now pay later strategy.

Nearly always ends in tears that imo

sweaty craiq

sweaty craiq

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Just now, Whippet13 said:

This just shows a pile of cash has turned up in the bank account. If DB is ploughing it in then that is great, well done to DB, but it doesn't mean Leigh RL is turning a profit as a trading enterprise.

Right so you just lump a lad of cash into a business from your personal bank account one day - then put it back the next??? But you do it every year for the past 5, obviously putting more in each year as if you didnt then the accounts dont move forward - you may be onto something here, did you work in a bank circa 2007/8/9

Damien

Damien

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1 hour 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. 

The ones that say they are reliant on the support of their director to continue trading and owe loans to AB Sundecks Ltd?

M j M

M j M

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Posted

First of all why aren't we just looking at the actual filed accounts rather than some rubbish website which just summarises them.

That said, all we can really determine from the accounts are that this is a small company whose figures are unaudited and don't need to present a public profit & loss account, or explain how the company is a going concern. As Damian says they are reliant most of the time on Beaumont not pulling his money.

Many companies did quite nicely out of Covid with rates rebates and huge dollops of furlough. Leigh look to be one such company. It'll be the figures for the following year when it really comes home.

The fall off in accruals and deferred income is, I would presume, largely the latter and reflects reduced pre-sold season ticket income as at November 2020 compared to previous years.

All in all, not too much to read into or deduce from these. I've seen better Rugby League club figures but also plenty worse.

The storm

The storm

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1 hour 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.

A wise club would make zero profit to avoid corporation tax 

Gooleboy

Gooleboy

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Posted

If Leigh are in a healthy financial situation well done to them, they have had a tough season after taking the poisoned chalice to go in to the SL. The fans deserve some good news.

sweaty craiq

sweaty craiq

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1 hour ago, M j M said:

First of all why aren't we just looking at the actual filed accounts rather than some rubbish website which just summarises them.

That said, all we can really determine from the accounts are that this is a small company whose figures are unaudited and don't need to present a public profit & loss account, or explain how the company is a going concern. As Damian says they are reliant most of the time on Beaumont not pulling his money.

Many companies did quite nicely out of Covid with rates rebates and huge dollops of furlough. Leigh look to be one such company. It'll be the figures for the following year when it really comes home.

The fall off in accruals and deferred income is, I would presume, largely the latter and reflects reduced pre-sold season ticket income as at November 2020 compared to previous years.

All in all, not too much to read into or deduce from these. I've seen better Rugby League club figures but also plenty worse.

Isn't 10m the threshold for audit exemptions?? Unless you own your own ground with associated costs and expenditure not many SL clubs will hit that figure - so help me out which clubs have audited accounts I can have a look at??

So furlough helped them out and previous years it was ??????????????????????

Rely on Beaumont as a going concern? Help me out here, what do you base that on?? ( I am a sponge for knowledge you see)

 

sweaty craiq

sweaty craiq

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1 hour ago, Damien said:

The ones that say they are reliant on the support of their director to continue trading and owe loans to AB Sundecks Ltd?

Point the year out please?

 

M j M

M j M

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Posted

Clubs with audited accounts include Leeds, Wigan, Saints, Wire, Cas. It's not purely determined by turnover.

Spidey

Spidey

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4 hours ago, sweaty craiq said:

Aaahhh, the buy now pay later strategy.

Nearly always ends in tears that imo

There aren’t league tables of accounts. It’s great to have a secure business but what’s the point if you can’t win games. That’s what your customers want 

Scubby

Scubby

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Posted
1 minute ago, Spidey said:

There aren’t league tables of accounts. It’s great to have a secure business but what’s the point if you can’t win games. That’s what your customers want 

@Spidey Tell us what you want, what you really really want?

Jim Prendle

Jim Prendle

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5 hours ago, sweaty craiq said:

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

I live in Hindley Green and believe me you don’t need checkpoints.

Nobody in their right mind would want to live in Leigh.

sweaty craiq

sweaty craiq

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5 minutes ago, Jim Prendle said:

I live in Hindley Green and believe me you don’t need checkpoints.

Nobody in their right mind would want to live in Leigh.

It's working, all though a few have dual nationality

GUBRATS

GUBRATS

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42 minutes ago, Jim Prendle said:

I live in Hindley Green and believe me you don’t need checkpoints.

Nobody in their right mind would want to live in Leigh.

Whereas Scholes and Whelly are luxurious , not forgetting Pemberton 

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