Slugger,I'll step in here with what I know

Land loan £3.1 M
COVID loan £1 M
Cumulative trading debts to date £1 M
Directors loans £1 M

Last two are only approximate figures but quite near and I strongly suspect Ellis will not be taking on the directors loans. The out going board will have to take those.

How do you know trading debt to date? They haven't done the accounts yet.
And the director loans aren't exactly a debt they've left Ellis with are they. They gave the money to the club and are not asking for it back. How to twist facts.

They are on there. The balance sheet shows net assets of £754,393. On the face of it it looks good, however it only looks good on paper. There are fixed assets of £6,302,584 which is the value of the land and buildings. Current assets of £482,566. Against this there are over £800,000 of creditors falling in one year and over £5m in creditors falling due after more than one year. So we have net assets but only if you can sell the ground to pay the creditors. The true position is that we have over £6m in creditors and very little if no means to repay the creditors. You can paint whatever picture you want on paper but in truth we need the takeover completed

I did say, Ellis will most likely not take directors loans, at least I thought I did.
The accounts have not been filed at companies House, I agree. But any due diligence will have up to date on going trading figures , I know you will not be party to them but others are

Those accounts are a year old.
The director loans are not going to be transferred and the stadium and other income pays the other loans, same as everyone else who has a mortgage.

Are you party to them?

All of that debt is serviced. All payment schedules are up to date.

What point are you trying to make?

Every club - indeed every business - runs debts.

It's a straight forward principle of business practice.

Of course, if we start to have less income coupled with rising costs, servicing the debt can become problematic. Ask Bradford.

Do you know slugger asks a reasonable question. I put in my five penneth to help him out with what I know and then all this.

Pop Tart asked you a reasonable question also.

Why the chippy response?

I don't get it.

I was just asking because you said you didn't think I'd see the current accounts. Which is correct, but as you'd posted a number I assumed you meant you did have access to them.

yes they are the accounts for 2022 which have just been filed, the latest ones on companies, are you saying we are now in a better position

I don't know. I haven't seen them, but I can say you can't make judgements in the current state of the club based on those accounts.

I don't really understand why you are so worried about them.
Debt is just the way the world works and we have a way of servicing the loans as, unlike a house, this asset earns money...providing they finish it soon.

On another note where is that wind bag these days?

Anybody who knew anything about rugby league knew we were in trouble at the Featherstone game
The buck stops with Carter I don’t blame Applegarth he did his best and is the scapegoat for the total and utter mismanagement of the club over the last 4 seasons

he's been a Facebook a few times then he's vanished again

He's talked about ill-health before, so I hope he's okay. Despite whatever differences of opinion people have on here, we all want the same thing: a successful Trin. This forum is just windbag stuff, and I'm sure we'd all have a pint with all the rest of us.

As for debts, the land loan was a necessarily evil required to buy the ground back, but the income from owning the ground should service that debt, and maybe more. Directors loans are a weird thing. Technically, a debt, but that all depends on whether the creditor will ever demand it be repaid, and are a way to reduce tax liabilities. In accounting terms, probably a good thing.

Running at a loss is different to being in debt. I don't know how we're doing there. Most people have mortgages and credit cards, and will be thousands and thousands of pounds in debt, technically. But if you can service them with your salary, it isn't an issue. In fact, servicing debts gets you a better credit rating.