accounts filed

[Robbo]

very limited information but it would seem we lost between 300 and 400k .

The club have chosen to limit what they provide.

The numbers are getting worse again even before the major problems of this year.

Payments from SKy were much higher last year.

Shareholders no longer have a meeting to discuss or to be a critical friend to the company.

Some of the numbers look extraordinary to me.

As I said a few months ago the Auditors have resigned.

Views please

[duke street 10]

Not the least bit surprised. The fact the Auditors resigned is alarming. Where they restricted in doing their jobs?

[tigerfeat]

Didn't we change the accountents ...maybe no choice if the others walked out!

[Casmania]

Didn't we change the accountents ...maybe no choice if the others walked out!

We didn't change accountants. Townsends resigned from being the clubs accountants after many years of service.

[LeeThorpe898]

Well im not that clued up on the business side of the club but that does sound very worrying. Don't think many clubs let alone a one the size of cas could take a 400k loss.

[tigerfeat]

Didn't we change the accountents ...maybe no choice if the others walked out!

We didn't change accountants. Townsends resigned from being the clubs accountants after many years of service.

So who took over when Townsends resigned

[Casmania]

Didn't we change the accountents ...maybe no choice if the others walked out!

We didn't change accountants. Townsends resigned from being the clubs accountants after many years of service.

So who took over when Townsends resigned

Henton & Co

[Casmania]

very limited information but it would seem we lost between 300 and 400k .

The club have chosen to limit what they provide.

The numbers are getting worse again even before the major problems of this year.

Payments from SKy were much higher last year.

Shareholders no longer have a meeting to discuss or to be a critical friend to the company.

Some of the numbers look extraordinary to me.

As I said a few months ago the Auditors have resigned.

Views please

I spent a fair bit of time yesterday trying to get my head around these figures.
I was somewhat shocked to say the least that the directors have chosen to limit the information re income. (that is a first I think)

Certainly looks like the losses have increased substantially from previous season.

[Piquad1]

My god when is this nightmare going to end. This is turning out to be one hell of a year. And I can't see next year being any different.

[Casmania]

My god when is this nightmare going to end. This is turning out to be one hell of a year. And I can't see next year being any different.

This seasons accounts won't be ready until next year. These accounts are for the 2019 season.

[HuddsTigers]

There seems to be two areas, which on the face of it the loss is scary, but doesn't necessarily raise red flags.

The first is intangible fixed assets, which relates to the players, in particular transfer fees and contract fees. More has amortised or reduced. I'm not sure if this is reflected in outlay for Watts in 2018 but the value/cost dropped from £240k to £220k in 2019, while amortisation of those was £75k (this was £60k previous year). It meant our intangible asset value dropped from £165k to £90k.

The second thing is cash at hand and in the bank. This means that we don't have lots of cash held at the ground or in our bank account. Suggests that we may be using money in the bank to pay the bills. This dropped from £705k to £330k.

Creditors slightly increased but this was largely interest on the loans and a slight uplift to trade creditors.

I guess the key takeaway here is that we spent a significant outlay on player fees in 2018 (over £200k) and we didn't plug the gap from amortisation and value of that.

I would imagine that it will drop by another £75k or so over next 12 months too until the end of Watts' contract.

[Get into em]

There seems to be two areas, which on the face of it the loss is scary, but doesn't necessarily raise red flags.

The first is intangible fixed assets, which relates to the players, in particular transfer fees and contract fees. More has amortised or reduced. I'm not sure if this is reflected in outlay for Watts in 2018 but the value/cost dropped from £240k to £220k in 2019, while amortisation of those was £75k (this was £60k previous year). It meant our intangible asset value dropped from £165k to £90k.

The second thing is cash at hand and in the bank. This means that we don't have lots of cash held at the ground or in our bank account. Suggests that we may be using money in the bank to pay the bills. This dropped from £705k to £330k.

Creditors slightly increased but this was largely interest on the loans and a slight uplift to trade creditors.

I guess the key takeaway here is that we spent a significant outlay on player fees in 2018 (over £200k) and we didn't plug the gap from amortisation and value of that.

I would imagine that it will drop by another £75k or so over next 12 months too until the end of Watts' contract.

This is not good reading Hudds

[The Firm]

very limited information but it would seem we lost between 300 and 400k .

The club have chosen to limit what they provide.

The numbers are getting worse again even before the major problems of this year.

Payments from SKy were much higher last year.

Shareholders no longer have a meeting to discuss or to be a critical friend to the company.

Some of the numbers look extraordinary to me.

As I said a few months ago the Auditors have resigned.

Views please

View?

We are knackered.

[tigerfeat]

My god when is this nightmare going to end. This is turning out to be one hell of a year. And I can't see next year being any different.

This seasons accounts won't be ready until next year. These accounts are for the 2019 season.

You shudder to think what state we will be in shortly for that matter most rugby league clubs

[casjunction]

Not seen the accounts.
But l am not surprised at the loss.
We made a small profit when crowds were up and outlay on players lower.
From memory few clubs make a profit which means they rely on the largesse of Chairpersons or not as the case maybe.
I said very early on inthe pandemic full time rugby league in it's present form would struggle to survive.
Accounts as summarised as in previous posts make CTRL look even more precarious.
Many businesses will be experiencing similarly worrying time.
Always look on the.......

[fords]

Didn't we change the accountents ...maybe no choice if the others walked out!

We didn't change accountants. Townsends resigned from being the clubs accountants after many years of service.

Do we know why they did ?

[Robbo]

Not seen the accounts.
But l am not surprised at the loss.
We made a small profit when crowds were up and outlay on players lower.
From memory few clubs make a profit which means they rely on the largesse of Chairpersons or not as the case maybe.
I said very early on inthe pandemic full time rugby league in it's present form would struggle to survive.
Accounts as summarised as in previous posts make CTRL look even more precarious.
Many businesses will be experiencing similarly worrying time.
Always look on the.......

Remember this is the season before the current one with no or little revenue.
Sky funding cover the max spend on players. Is that correct.

The stock level ( at cost ) looks very high to me.
Finally average number of monthly employees at 145 !! Is that a typo?
Robbo

[Towns88]

Not seen the accounts.
But l am not surprised at the loss.
We made a small profit when crowds were up and outlay on players lower.
From memory few clubs make a profit which means they rely on the largesse of Chairpersons or not as the case maybe.
I said very early on inthe pandemic full time rugby league in it's present form would struggle to survive.
Accounts as summarised as in previous posts make CTRL look even more precarious.
Many businesses will be experiencing similarly worrying time.
Always look on the.......

Remember this is the season before the current one with no or little revenue.
Sky funding cover the max spend on players. Is that correct.

The stock level ( at cost ) looks very high to me.
Finally average number of monthly employees at 145 !! Is that a typo?
Robbo

That number will need to be streamlined asap. Same with most clubs.

[on side]

Think is why Trueman off to Warrington for transfer fee to balance the books a bit simalar to Clark was

[tigerfeat]

Not seen the accounts.
But l am not surprised at the loss.
We made a small profit when crowds were up and outlay on players lower.
From memory few clubs make a profit which means they rely on the largesse of Chairpersons or not as the case maybe.
I said very early on inthe pandemic full time rugby league in it's present form would struggle to survive.
Accounts as summarised as in previous posts make CTRL look even more precarious.
Many businesses will be experiencing similarly worrying time.
Always look on the.......

Remember this is the season before the current one with no or little revenue.
Sky funding cover the max spend on players. Is that correct.

The stock level ( at cost ) looks very high to me.
Finally average number of monthly employees at 145 !! Is that a typo?
Robbo

You could half that number if you removed friends and family of the Grattons