In basic terms the accounts are quite hard to interpret because the Company has filed abbreviated accounts (much like the majority of small businesses in the UK). As mentioned the only people who will know the full picture will be the shareholders who will, under companies act receive full set of statutory accounts. These are presented at the companies AGM at which point they are approved by the directors.

Looking at what info is there the Company made a loss last year of roughly £1.2m – given the low value of the companies fixed assets you have have to conclude that the new stands were expensed via the Profit and loss account. Probably on the basis that the improvements were deemed as repairs and therefore required to bring the stadium into proper repair to carry out the trade of the business.

In terms of the balance sheet – the company has very little in the way of actual assets but has a number of significant loans, which will be shown as liabilities thus resulting in the £1.2m net liability position mentioned. The company has £925k of liabilities due during the year and £444k of liabilities due in greater than one year.

The company owes West Yorkshire Windows £450k which for all intense and purposes is the amount due greater than one year i.e. payable when it can. However that means that at last year end somewhere along the way the Club owe an independent third part almost £1m.

The accounts don’t contain any detail on this at all but you would have to assume that this is costs for the stadium repair awaiting payment and then say a few hundred thousand to other creditors – probably HMR&C and salaries timing dependant.

As an accountant you need to know more about what’s in the short term creditor to determine if you’re in a mess. Part of the net liabilities position comes from not putting the stadia costs on the balance sheet put through the P&L accounts.

The concern would be the cash figure of only £1500 as this won’t pay the debts and its either the Chairman or the bank who are going to have to stump up the cash to get the liabilities paid down.

But like you say those accounts are 18 months old now and you are still going so that has probably been sorted out by now.

Mr G has just said on Twitter that the new company was formed as a vehicle from which to operate the new college; if that doesn't come off, they may use it for the stadium management company.

Another one to stop moaning about.

off to get my st's tomorrow! personally think we will be fine and the crowds we are getting are ace!! well done imho to all the team!

"The Bradford T&A are reporting that it is understood the third party funding will come in the form of a bank loan."
The bulls appear to be having to get a bank loan to pay players wages; this goes to show how fragile SL clubs are...it's not just us.
I'm glad this has come to the attention of the RL media as when it is us it appears to be publicised all too quickly.
I wonder how many other clubs struggle just as much, and how much real scrutiny is put into (the real) club finances around SL.
A wealthy backer does not a competent and efficient business make - pillars of sand etc etc.

Half of superleague are teetering on the brink. The game isn't in a great place at the minute in this country hence the rfl's desperation to change everything yet again. Sadly the convoluted plan they have come up with will probably turn as many fans and sponsors away from the sport as it attracts.

Totally agree and what is needed in difficult times is strong management and stability and we have neither within the sport as a whole.