https://find-and-update.company-informa ... ng-history The accounts were filed today. Can anyone advise based on the information in the accounts how the club are performing.

https://find-and-update.company-informa ... ng-history The accounts were filed today. Can anyone advise based on the information in the accounts how the club are performing.

I'm no expert but looks like we owe a lot.

Very difficult to tell from just the abridged accounts but at first glance, we're in less net debt at November 2020 than we were in November 2019, so that's something I suppose.
We also appear to have a pretty healthy bank balance at 30/11/2020.
The £50k bank loan will almost certainly be a bounce back loan offered by the government at a very favourable rate of interest.

The real question is what's inside that 'other creditors' figure. Loans from directors/shareholders possibly? Whatever it is, the balance has dropped by about £160k from 2019 to 2020 which is probably a good thing.

Certainly looks healthier than last year

It's stabalzed which is something we haven"t seen for some time.

No financial implosion, recruitment underway, healthier bank balance playoffs confirmed… wow is this bulls I’m not used to this….

Yes I’m no expert on reading accounts but it seems that, whilst we still owe quite a lot out, we owe less than we did last year and we have liquid assets in the bank.

No doubt the new supporters scheme is helping balance the funding of the team too.

Looks like we had £10k in the bank this time last year. That must have been scary times.

PS - we’ve all noticed a lack of chatter on here recently but nothing gets the fingers warmed up quite like the bulls and financial accounts

Appears from Jan 2019 when Chalmers last filed the accounts we owed 1.426 million it's now down to 736k so heading on the right path.

Take into account that these are for the covid season where we had no income for games either.

The new supporters squadbooster scheme is definitely proving worthwhile but the more the merrier. The recruitment and retention is going well but you can’t have too many members and at. Min cost of £5 pm hopefully more people can commit and help the cause Here’s hoping for more good news soon Any questions please ask Www.bullssquadbooster.co.uk

The new supporters squadbooster scheme is definitely proving worthwhile but the more the merrier. The recruitment and retention is going well but you can’t have too many members and at. Min cost of £5 pm hopefully more people can commit and help the cause Here’s hoping for more good news soon Any questions please ask Www.bullssquadbooster.co.uk

Looking at the accounts I would say there is cause for some cautious optimism, but there are some factors which should still be considered.

Firstly, whilst covid will have significantly reduced our levels of income, it would also have resulted in our expenditure being reduced to almost zero. Staff costs would have been picked up by the government furlough scheme for large periods of 2020 and without any ground costs to factor, a loss of income have been negligible.

Another consideration will be the extent of the loan the Bulls secured from the RFL in October last year. The emergency bail-out loan that was offered by the government to the sport could be a reason why the bank balance looks healthy, especially if the club have had to use very little of it. However, we don't know the exact extent of the money borrowed so cannot really tell whether it was a good thing or not.

Overall I think its too early to say if this is the start of a period of long term stability. Being 3/4 million £ in the red is still not an idea position but then again it was never going to be solved over night.

Still taking some time to clear up the mess left by Chalmers. Who was it that was responsible for him taking over???