The stadium isn’t viable without the football club (and the cuckoo rugby club thankfully died so hopefully that put paid to that as an alternative) but the football club isn’t viable with the current stadium situation as is, can’t decide if that helps us or not.
To really cheer you up, profit from the rest of the Grenoble Rd empire was reported as follows:
The written down value or book value of the stadium is £6.5m in those accounts which is interesting.
Stadium company business has net tangible assets of £1.3mTo really cheer you up, profit from the rest of the Grenoble Rd empire was reported as follows:
- Old Hotel: £963k (after £157k charitable donation!)
- New Hotel: £436k
- Leisure Complex: £947k
£826k in Trade Debtors! Most of that probably relates to outstanding Service Charges payable by the football club?Something to pick up is that the Contingencies note regarding the service charge dispute from 2015-2017 has been dropped for the 2018 accounts. So this presumably confirms the dispute has been resolved - though whether it has been paid or not is another matter, and by whom? i.e. Did Tiger get any money back (or owe less) from Eales?
Note 12 has an interesting drop in bad debt provision from £124,611 to £38,000. Perhaps last year was a 20% provision against the service charge dispute? Or London Welsh, or someone else? Seems most unlike Kassam to let anyone owe him money.
Christ, can you imagine?Isn't the Kass Stad an Evacuation Center in one or more of the Government's and OCC's Emergency Plans? Could be related to that?
Fairly sure that's correct, there was a grant towards building the stadium, something similar to what is now the Football Stadia Improvement Fund. If you look back at the 2002 accounts, the release that year was 104,600 and deferred was 2,540,800, so total of 2,645,400.Any idea what the £43k of "Government Grants" listed under "Other Income" relates to? I assume a chunk of cash was received at the time of stadium construction to help support the switch from the Manor and is apportioned over a number of years.
But on the face of it, a P**s take of biblical proportions if taxpayer money contributed to the funding of this money printing empire!