With transfer fees not being a traditional expenditure in rugby league, I'd say that 30k + Westerman's fee, is a fairly respectable profit,

What is our turnover?

I think the only reason for showing the players as intangible assets is from a company valuation. It would be difficult to value a company above £3m with fixed assets of £400k only turning over a £30k profit. There would be some small added value for goodwill but thats about it.

you copy and pasting the HDM comments page?

how clever

don't know, have requested full account from Companies House, should know details later in the week, but I'd imagine t/o must be around £2-2.5m, would have to be around there.

Surely if the players are capitalised then the transfer fees wouldn't be in the P&L anyway?

(Where's that accountant when you need her?)

Westerman's signing didn't come out of those figures, that will be in the next set of accounts

the player value is capitalised, but the cosy of acquisition is a P&L number as far as I know.

apologies, it was Turner and Tansey.

I have to say, from the three we've bought, Turner, Tansey and Westerman, I haven't seen any reason why we bothered. Westerman's defence yesterday was shocking in parts.

Id say nearly double that !!! would suprise me to be nearer 4m

We do 1m in merchandise (sure thats been reported), then you take gate recipts and passes (2m?)

Thats before sponsorships and the like

then we're paying way over the odds for some backroom staff Hutchie.

I would have thought that the cost of the player would be depreciated over the term of his contract but I'm not an accountant. I know if I shell out 10 grand for a piece of machinery I don't show the 10 grand in my P&L that year

Wasn't one of the last licence application points for T/O > £4m? We got taht and it has been reported to be around £5m. I'm guessing they could still show a profit if we saw a significant drop in income

great news wether its 1k or 30k its still a great posistion to be in atm i would expect a bit lower for next season but lets see what happens from til end of season hopefully a home draw in the cup

Agreed and far more preferable than a several hundred thousand pound loss.

or a £1m loan with more strings attached than an orchestra!

Yeah 4m turnover for a licence point last time. I would say our turnover is close to double that

Don't see how we could possibly be turning over anything close to £8m personally.

No chance, £5m tops, probably less now

Congratulations to the people who take flak off people on here day after day but continue to help our club post profits and in turn secure the clubs future in the long term.

On the Westerman transfer probably helping towards a loss next year, a decent draw tonight and a place in the semi finals of the CC will probably make us more than it cost to sign Westerman and should we progress further than that fee will be totally paid for.

Any transfer fee paid to acquire a player can be capitalised and amortised over the initial life of the players contract. eg, the reported £150k paid for Westerman will be allocated to the P/L over the 4 year life of the contract he is under.

So therefore, as he was signed last October and our financial year is Jan-Dec a quarter of the fee (around 35-45k) appeared in these accounts.

This is for financial year ending October 2010.

Pretty sure our financial year ends in October, which is inline with the player's contracts.

So for these accounts, there'll be nothing in the P&L for Westerman.

last posted accounts are made up to 21/10/2010, so you are right.