Quote ="martinwildbull"Cash generative business!!! What planet are you on? Chalmers or whoever was backing him has most likely put £1.2m of cash into the business. That is what the creditors due over 1 year are likely to be. The increase in creditors under a year is the critical one, but do not forget that the date is January this year when there would probably be more season ticket receipts in that figure (and was in the bank account figure but as you can see has then been paid out as the bank account has gone down from £91k to £1k.
No wonder he was talking to people back in March. No wonder he wanted to cut the overheads, because putting about £600k cash into the bulls every year is not sensible.
If any cash has gone out of the business then it would likely be money due to Chalmers or his backer, who are creditors like any other.
So the tally now is: OK put £1.5m of his own cash into the Bulls, Green put £1.0 Million pounds of his own cash into the bulls, Chalmers has put £1.2m of his/a n others cash into the bulls. to me that proves they are idiots not thieves.
One thing I do agree on Nestegg, is it smells, and a totally independent review is needed.'"
Hi Martin.
Forget arguments about planets mate. This is a serious matter.
Cash generation - concessions, cash receipts at turnstiles (inc away fans), door to door Big One collections, shop sales, cash season ticket sales etc etc - can easily add up to far > £400K per season. Where did it all go?
Creditors due over 1 year include YW, HE, ISC etc ..... and that's only 3, and we understand they total over £200K. Unless you have prove to the contrary we have no reason to believe that (other than a loan given by the RFL of a few hundred K) that nobody put money into BB17 and Chalmers had zilch equity to put in, and we are not aware of any director loans. We may be wrong, but we very much doubt it. We may not be accountants like your goodself, but we can at least agree that it smells ... and it smells fishy.
We are happy to receive further abuse (we're used it by now lol), but it would be interesting to dig a bit deeper - your day to day accounting knowledge is appreciated MW.
If BB17 is still in existence come the first Championship game of next season we will gladly eat our collective hats.
