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Bath Rugby Results
Discussion started by CoochieCoo (IP Logged), 24 March, 2020 20:32
MESSAGES->author
CoochieCoo
24 March, 2020 20:32
For the year ended 30 June 2019 the club made a profit of £4.3m (2018 Loss £3.1m). This is due to the CVC money and revaluation of PRL shares by £7.4m. So our results are pretty well on a par with the previous year.



https://pbflaa.by.files.1drv.com/y4mToRbTHGUTg0zWMi8LNeOlOmx4tZHsH3crYbASv0X_qWBw8j30S9KV-RiZIf_AWoOZXD7D3Rjy1tYRAKXykpZSHuOObVQBiovPpB6PnDUuBM6xlx2F1yOjKpEBmWUfMru3SCm255j3p-CnndC7J9ZUG29r1BtfFWHHj-MdzDOpzBuTRTPqNaco8ctf1svZyW0?width=106&height=160&cropmode=none
https://pbfkaa.by.files.1drv.com/y4mhxY1k8zrLn92LwcIYgSd1KcA6zBGX-Wgw2dNz8Us0xA71EhjMmL2tc-ggx7OlsBDECw8eAZ_oAWnNyh5doimzOEics5H87cuh5Q-Sb-ViPD6Pt6QUBneu5F2tlWLltGQZ8pd5qFmsZwbKB39L5Dki21gJfnsiaxLiCiuWPCZUjkXp4EttajzFAgcCl6YuDDF?width=160&height=107&cropmode=none

Bath Supporter Jack
Bath Supporter Jack
24 March, 2020 22:06
Interesting to note that the temporary stand costs us £1m per year.

Also, to an ex accountant, quite complex accounts.

MESSAGES->author
CoochieCoo
24 March, 2020 22:13
Looks like Bruce has got back £11m of his loan!



https://pbflaa.by.files.1drv.com/y4mToRbTHGUTg0zWMi8LNeOlOmx4tZHsH3crYbASv0X_qWBw8j30S9KV-RiZIf_AWoOZXD7D3Rjy1tYRAKXykpZSHuOObVQBiovPpB6PnDUuBM6xlx2F1yOjKpEBmWUfMru3SCm255j3p-CnndC7J9ZUG29r1BtfFWHHj-MdzDOpzBuTRTPqNaco8ctf1svZyW0?width=106&height=160&cropmode=none
https://pbfkaa.by.files.1drv.com/y4mhxY1k8zrLn92LwcIYgSd1KcA6zBGX-Wgw2dNz8Us0xA71EhjMmL2tc-ggx7OlsBDECw8eAZ_oAWnNyh5doimzOEics5H87cuh5Q-Sb-ViPD6Pt6QUBneu5F2tlWLltGQZ8pd5qFmsZwbKB39L5Dki21gJfnsiaxLiCiuWPCZUjkXp4EttajzFAgcCl6YuDDF?width=160&height=107&cropmode=none

dcsh
dcsh
25 March, 2020 08:07
Depending what happens with the rest of the season and the potential loss of match day income, Bruce might be asked to extend his loan again. We are very luck to have such a benefactor. Imagine the cost of season tickets etc if the club had to sustain itself or that they’d only be able to compete in the Championship or below.

BathMatt53
BathMatt53
25 March, 2020 08:32
Quote:
dcsh
Depending what happens with the rest of the season and the potential loss of match day income, Bruce might be asked to extend his loan again. We are very luck to have such a benefactor. Imagine the cost of season tickets etc if the club had to sustain itself or that they’d only be able to compete in the Championship or below.

To be fair you could say the same of 11 of the other team in the Prem. It would be a lonely season for Exeter.



[Adoptee 19 / 20: The High ball and counter attack meister, Tom Homer]

Bath Supporter Jack
Bath Supporter Jack
25 March, 2020 08:51
As I recall BathMatt53 I don't think Exeter are so different.

Tony Rowe's company South West Communications pays a load in to Exeter for services, shirt sponsorship etc and it is therefore treated as revenue and reduces their losses/creates profit.

If Bruce wanted to he could create a company ABC Limited and do the same. His approach is just to lend the company £m to keep it afloat and cover the trading losses.

It is pretty clear that with an 18,000 seater, that was say 90% plus filled, Bath would be close to/would make a surplus. Helped not least of all by the £1m saving on the temporary stands as above.

BathMatt53
BathMatt53
25 March, 2020 08:58
Quote:
Bath Supporter Jack
As I recall BathMatt53 I don't think Exeter are so different.
Tony Rowe's company South West Communications pays a load in to Exeter for services, shirt sponsorship etc and it is therefore treated as revenue and reduces their losses/creates profit.

If Bruce wanted to he could create a company ABC Limited and do the same. His approach is just to lend the company £m to keep it afloat and cover the trading losses.

It is pretty clear that with an 18,000 seater, that was say 90% plus filled, Bath would be close to/would make a surplus. Helped not least of all by the £1m saving on the temporary stands as above.

Not counting the loans etc on the £50m+ cost of planning for and building the new stadium presumably?



[Adoptee 19 / 20: The High ball and counter attack meister, Tom Homer]

Bath Supporter Jack
Bath Supporter Jack
25 March, 2020 09:10
One-off capitalised costs...........Dyson's gift to the City Of Bath. Naming rights to the stadium "The Dyson at the Rec"...............good for £50m!(Sm124)

I am sure Mr CC could come up with a method of making it profitable...............or at least seem to be profitable!!

MESSAGES->author
CoochieCoo
25 March, 2020 09:17
Quote:
BathMatt53
Quote:
Bath Supporter Jack
As I recall BathMatt53 I don't think Exeter are so different.
Tony Rowe's company South West Communications pays a load in to Exeter for services, shirt sponsorship etc and it is therefore treated as revenue and reduces their losses/creates profit.

If Bruce wanted to he could create a company ABC Limited and do the same. His approach is just to lend the company £m to keep it afloat and cover the trading losses.

It is pretty clear that with an 18,000 seater, that was say 90% plus filled, Bath would be close to/would make a surplus. Helped not least of all by the £1m saving on the temporary stands as above.

Not counting the loans etc on the £50m+ cost of planning for and building the new stadium presumably?

The funding of the development as I understand it will be done by Arena 1865 no doubt the club will be charged rent for the use of the stadium and they pay £300k at the moment to the Rec Trust in addition to the £1m for the meccano stands . So costs won’t be very much higher and no doubt Bruce would be able to borrow cheaply!



https://pbflaa.by.files.1drv.com/y4mToRbTHGUTg0zWMi8LNeOlOmx4tZHsH3crYbASv0X_qWBw8j30S9KV-RiZIf_AWoOZXD7D3Rjy1tYRAKXykpZSHuOObVQBiovPpB6PnDUuBM6xlx2F1yOjKpEBmWUfMru3SCm255j3p-CnndC7J9ZUG29r1BtfFWHHj-MdzDOpzBuTRTPqNaco8ctf1svZyW0?width=106&height=160&cropmode=none
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BathMatt53
BathMatt53
25 March, 2020 10:21
They won't want to make a significant profit will they? I would have thought that they should be writing any profit off against the outstanding debts - no point in paying interest on the debt and corp tax on the profit at the same time? (I'm clearly no accountant!).



[Adoptee 19 / 20: The High ball and counter attack meister, Tom Homer]

MESSAGES->author
CoochieCoo
25 March, 2020 11:00
The aim is for Bath Rugby to be self sufficient. They have tax losses of £15.6m to be absorbed against future profits before they have to worry about paying corporation tax.



https://pbflaa.by.files.1drv.com/y4mToRbTHGUTg0zWMi8LNeOlOmx4tZHsH3crYbASv0X_qWBw8j30S9KV-RiZIf_AWoOZXD7D3Rjy1tYRAKXykpZSHuOObVQBiovPpB6PnDUuBM6xlx2F1yOjKpEBmWUfMru3SCm255j3p-CnndC7J9ZUG29r1BtfFWHHj-MdzDOpzBuTRTPqNaco8ctf1svZyW0?width=106&height=160&cropmode=none
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Bath Supporter Jack
Bath Supporter Jack
25 March, 2020 15:15
Mr CC

Is Arena 1865 a company?

Who "owns" it?

MESSAGES->author
CoochieCoo
25 March, 2020 16:33
Quote:
Bath Supporter Jack
Mr CC
Is Arena 1865 a company?

Who "owns" it?

Yes it is UK registered.

Bruce through an off shore company.



https://pbflaa.by.files.1drv.com/y4mToRbTHGUTg0zWMi8LNeOlOmx4tZHsH3crYbASv0X_qWBw8j30S9KV-RiZIf_AWoOZXD7D3Rjy1tYRAKXykpZSHuOObVQBiovPpB6PnDUuBM6xlx2F1yOjKpEBmWUfMru3SCm255j3p-CnndC7J9ZUG29r1BtfFWHHj-MdzDOpzBuTRTPqNaco8ctf1svZyW0?width=106&height=160&cropmode=none
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Mike the Taxi
Mike the Taxi
25 March, 2020 16:39
Quote:
CoochieCoo
Quote:
Bath Supporter Jack
Mr CC
Is Arena 1865 a company?

Who "owns" it?

Yes it is UK registered.

Bruce through an off shore company.

Ah! So that's where the 'Bath Rugby Owner has his money in Offshore Accounts'
rubbish comes from with the Major Flacks/Worthy Gilsoms of the Chronic pages

BathMatt53
BathMatt53
25 March, 2020 18:16
Quote:
Mike the Taxi
Ah! So that's where the 'Bath Rugby Owner has his money in Offshore Accounts'
rubbish comes from with the Major Flacks/Worthy Gilsoms of the Chronic pages

its not rubbish if true though?



[Adoptee 19 / 20: The High ball and counter attack meister, Tom Homer]

Mike the Taxi
Mike the Taxi
25 March, 2020 18:19
But the inference they give is that he is 'Tax-dodging'.

Bath Supporter Jack
Bath Supporter Jack
25 March, 2020 18:20
He sold a company in France to a European PE House.

His cash is being held somewhere where the tax treatment is favourable.

I am not sure what is rubbish and what is true or untrue.

MESSAGES->author
CoochieCoo
25 March, 2020 18:30
If Bruce is resident in the UK he has to declare his income worldwide and pay his tax. He may get relief for tax already paid off shore. Having money offshore does not automatically mean people are avoiding tax, they may have a variety of reasons such as better investment climate, income, cheaper borrowing, cheaper tax regime etc! I am sure BSJ will help us out on this!



https://pbflaa.by.files.1drv.com/y4mToRbTHGUTg0zWMi8LNeOlOmx4tZHsH3crYbASv0X_qWBw8j30S9KV-RiZIf_AWoOZXD7D3Rjy1tYRAKXykpZSHuOObVQBiovPpB6PnDUuBM6xlx2F1yOjKpEBmWUfMru3SCm255j3p-CnndC7J9ZUG29r1BtfFWHHj-MdzDOpzBuTRTPqNaco8ctf1svZyW0?width=106&height=160&cropmode=none
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Bath Supporter Jack
Bath Supporter Jack
25 March, 2020 21:10
All UK domiciled funds and only UK companies invested in.

UK, contrary to popular belief, is a very good place to be based.............which is why so many ultra high net worth foreigners are here.

I thought BC was resident in France?

P G Tips
P G Tips
26 March, 2020 07:01
It is rubbish in so far as the Worthy’s and Flacks like to imply a profit motive in a foreign business that has no interest in Bath.

Their wording is deliberately open to interpretation - suggesting that the Rec development is a corporate initiative - not one welcomed by large numbers of Bath citizens.

PG


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