FORUMS > The Virtual Terrace > Catalans Dragons - The Role Model Club? |
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Club Coach | 6124 | No Team Selected |
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Oct 2004 | 20 years | |
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10174_1376908073.png 23 - 20 - 4
Warrington led 16-2 in Saturday's Grand Final, but their joy was short-lived as Wigan roared back to win the Super League title and extend the Wire's 58-year wait to be champions:d7dc4b20b2c2dd7b76ac6eac29d5604e_10174.png |
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| I don't think we're going bust any time soon.
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International Chairman | 2524 | |
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Feb 2002 | 23 years | |
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Apr 2016 | Mar 2016 | LINK |
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1217.jpg Knowledge flies you to the moon, religion flies you into buildings:1217.jpg |
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| Quote: Magic Superbeetle "............
Cash is a taxable asset
'"
Really?
And I always though corporation tax was paid on profit.
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Rank | Posts | Team |
Player Coach | 5214 | No Team Selected |
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Aug 2006 | 18 years | |
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27476.gif I am the hash browns of rlfans :27476.gif |
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| Quote: BartonFlyer "Really?
And I always though corporation tax was paid on profit.'"
As google/ Starbucks proved - making a profit and being taxed are two different things
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Rank | Posts | Team |
International Chairman | 2524 | |
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Feb 2002 | 23 years | |
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Apr 2016 | Mar 2016 | LINK |
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1217.jpg Knowledge flies you to the moon, religion flies you into buildings:1217.jpg |
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| Quote: Magic Superbeetle "As google/ Starbucks proved - making a profit and being taxed are two different things
Couldn't agree more, but that has nothing to do with "cash at bank" which is what you were implying.
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Rank | Posts | Team |
Player Coach | 5214 | No Team Selected |
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Aug 2006 | 18 years | |
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27476.gif I am the hash browns of rlfans :27476.gif |
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| Quote: BartonFlyer "Couldn't agree more, but that has nothing to do with "cash at bank" which is what you were implying.'"
Cash at bank is a fixed asset, fixed assets can be taxed as deferred tax (if for example a company tries to avoid all it's corporation tax by moving it's profit into a bank account) is applicable - it's a bit of a grey area - but it's giving the taxman an excuse to basically accuse you of moving money around to avoid tax ...
Anyway the latest accounts are what they are (for whatever reason) and as was said, net worth of Leeds is around 15million and Wigans is -2million
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International Star | 3368 | No Team Selected |
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Jul 2011 | 13 years | |
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Jan 2015 | Jan 2015 | LINK |
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60495_1398780661.jpg :d7dc4b20b2c2dd7b76ac6eac29d5604e_60495.jpg |
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| Quote: Magic Superbeetle "Cash at bank is a fixed asset, fixed assets can be taxed as deferred tax (if for example a company tries to avoid all it's corporation tax by moving it's profit into a bank account) is applicable - it's a bit of a grey area - but it's giving the taxman an excuse to basically accuse you of moving money around to avoid tax ...
Anyway the latest accounts are what they are (for whatever reason) and as was said, net worth of Leeds is around 15million and Wigans is -2million'"
IL has already came out and said the club is in the Black and not the RED and we have received over a million in transfers since that. Like i said those figures aren't truthful for what ever reason.
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Rank | Posts | Team |
Player Coach | 5214 | No Team Selected |
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Aug 2006 | 18 years | |
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Sep 2024 | Sep 2024 | LINK |
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27476.gif I am the hash browns of rlfans :27476.gif |
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| Quote: dubairl "IL has already came out and said the club is in the Black and not the RED and we have received over a million in transfers since that. Like i said those figures aren't truthful for what ever reason.'"
There's no reason why both can't be true. You can have negative assets/ be liable for more than you own, as well as still posting a profit. There's no reason why both can't be true.
The accounts were last published up to and including last august so any and all transfer fees after that date won't be included no.
Whilst Wigan are free to move money around, convolute the process, and try best the system any way possible, not being truthful in these documents is a very serious crime
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Player Coach | 12189 | No Team Selected |
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Jun 2007 | 17 years | |
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Jun 2017 | May 2017 | LINK |
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34133_1401485799.png :d7dc4b20b2c2dd7b76ac6eac29d5604e_34133.png |
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| Quote: dubairl "IL has already came out and said the club is in the Black and not the RED and we have received over a million in transfers since that. Like i said those figures aren't truthful for what ever reason.'"
Are you suggesting IL has lied to the inland revenue?
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International Star | 58 | No Team Selected |
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Aug 2012 | 12 years | |
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Jan 2014 | Jan 2014 | LINK |
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| Magic superbeetle - I have literally no idea what you're on about. You don't pay tax on cash, you pay tax on taxable profits. Cash at bank is not a fixed asset.
Dubairl - I doubt IL is lying when he knows that the information is in the public domain. I can't remember what was in the actual accounts, but I would imagine that a large proportion of the 6 mil Wigan owes is owed to IL, and he has no intention of asking for it so isn't including that when he says that they are in the black.
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International Star | 426 | No Team Selected |
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Sep 2013 | 11 years | |
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Feb 2014 | Feb 2014 | LINK |
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| What has all this to do with Catalans??
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Rank | Posts | Team |
Club Coach | 6124 | No Team Selected |
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Oct 2004 | 20 years | |
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Oct 2024 | Jul 2024 | LINK |
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10174_1376908073.png 23 - 20 - 4
Warrington led 16-2 in Saturday's Grand Final, but their joy was short-lived as Wigan roared back to win the Super League title and extend the Wire's 58-year wait to be champions:d7dc4b20b2c2dd7b76ac6eac29d5604e_10174.png |
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| Nothing, but why let that get in the way of a dick measuring contest?
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Rank | Posts | Team |
Club Coach | 4182 | |
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Feb 2005 | 20 years | |
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12637_1485957900.jpg Allez [color=#FF0000:1zzdnh0b]SANG[/color:1zzdnh0b]-et-[color=#FFBF00:1zzdnh0b]Or[/color:1zzdnh0b]
[url=https://ukcatalansdragons.blogspot.com/:1zzdnh0b]VISIT OUR WEBSITE !! Click here[/url:1zzdnh0b]:d7dc4b20b2c2dd7b76ac6eac29d5604e_12637.jpg |
Moderator
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| Having been the Dragons ground on a non-matchday there seems to be plenty going on.
They have lots of rooms being used for various activities. Surprising really as they are a little way out of town.
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Rank | Posts | Team |
International Board Member | 11377 | |
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Sep 2002 | 22 years | |
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2960.jpg :2960.jpg |
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| Quote: Magic Superbeetle "Cash at bank is a fixed asset, fixed assets can be taxed as deferred tax (if for example a company tries to avoid all it's corporation tax by moving it's profit into a bank account) is applicable - it's a bit of a grey area - but it's giving the taxman an excuse to basically accuse you of moving money around to avoid tax ...
Anyway the latest accounts are what they are (for whatever reason) and as was said, net worth of Leeds is around 15million and Wigans is -2million'"
What an odd post.
Cash at bank is a current (floating) asset, not a fixed asset.
As for moving all your profit into a bank account - eh?!
Methinks this is a case of a little knowledge being dangerous
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Rank | Posts | Team |
Player Coach | 5214 | No Team Selected |
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Aug 2006 | 18 years | |
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Sep 2024 | Sep 2024 | LINK |
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27476.gif I am the hash browns of rlfans :27476.gif |
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| Quote: FearTheVee "What an odd post.
Cash at bank is a current (floating) asset, not a fixed asset.
As for moving all your profit into a bank account - eh?!
Methinks this is a case of a little knowledge being dangerous
Me thinks knowing the start and end of an argument mixed with getting the basics wrong at the start lead to a way too convoluted thought process for something that isn't really difficult my bad (it's been a while since I did any accountancy in my defence!)
Top and bottom of it is saints and Leeds still have their safety net of owning land should the worst financial situation befall them - Wigan already used theirs.
To get back on topic a little bit, do Catalans own their own stadium? I know they moved about a bit in the beginning - but it would go along way to explaining the strength they have financially
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Rank | Posts | Team |
International Chairman | 6820 | No Team Selected |
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Dec 2001 | 23 years | |
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86.jpg Let all the doubters keep doubting and those who believe keep believing.
We’re only interested in those in the bubble. Anyone who wants to come in the bubble, you can come in.
But you’ve got to keep believing.:86.jpg |
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| Wigan have minimal assets compared to Saints and Leeds and, consequently, they can't sweat them for anything like as much. If Central Park was still there things would be different. But as it stands, the club is, one would assume, in a difficult position although IIRC they've tried to open up new income streams away from the DW?
Quote: christopher "I think saying no british SL club is good at marketing is harsh and not true my club the Rhinos (branding) are actually a very very well run sports club.
'" Late to this but as mentioned, Leeds have it very easy and the club is in many ways a licence to print money. That's easier said than done and Hetherington does a good job but there are lots of areas that could be improved upon. They are excellent at wooing and wowing corporates but the fact that money in those areas is so easy to make means, in my view, they have failed to fulfil their potential in others - marketing is often poor and merchandising is, frankly, crap.
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