WAKEFIELD TRINITY WILDCATS have posted their latest accounts at Companies House.
And, although the accounts for the year ended 30 November 2014 are unaudited and don’t include a profit and loss account, they appear to show that the club made a small profit of just over £20,000 for the 2014 season.
At the end of the year the club had net liabilities of £1,511,688, but of that figure £1,016,974 is owed to shareholders, of which £853,500 is owed to Chairman Michael Carter.
“They have agreed that these accounts will not be repaid until such time as the company has adequate funds available to allow it to pay its other debts as they fall due,” says a note to the accounts.
“Following the year end the company has continued to pay its creditors as they fall due. All amounts due to HMRC as disclosed on returns filed have been pad on or before their due dates; all loan payments to the RFL have been made on a timely basis and all trade creditors are being paid on terms.”
At the balance sheet date the amount owed to the RFL was £134,750, reduced from £377,499 a year earlier.
Meanwhile Sir Rodney Walker, the Chairman of the Wakefield Community Stadium Trust, has told League Express that he is growing more optimistic about securing a new stadium for the club.
“It’s been a long haul and there is still a long way to go, but you are speaking to me at the end of a week in which we have seen more progress in terms of my optimism for a successful outcome than we’ve seen for a year or two,” said Sir Rodney.
“The problem is that I’ve had three different Chairmen to work with and a change in the economic environment. When we started this process, raising money wasn’t as difficult as it is now.
“I am more optimistic now than I have been for some time that we will get a new stadium for Wakefield fit for purpose.
“The club is very keen to go to a new stadium at Newmarket and I was with the developer 48 hours ago. They are still committed to helping the club financially wherever the decision is to have the stadium.
“There is unquestionably a groundswell among some supporters that Belle Vue should be refurbished as part of a development project for the whole of that area of Wakefield. The local Council has announced a new outer ring road for Wakefield that will pass very close to the Belle Vue area.
“But for now all I want to say that I am more optimistic than I have been for some time that we will be able to secure a new stadium for the club.”
Less promising, however, is the prospect of retaining current coach Brian Smith for next season. League Express understands that Smith is likely to return to his farm in Australia at the end of the season
Some good and bad news in this article, The clubs doing better financially and building bridges with the RFL and the local business community
Sir Rodney Walker breaks his silence and seems very optimistic over a new stadium.
The sting in the tail is the news that Brian Smith is likely to go home at the seasons end.
WAKEFIELD TRINITY WILDCATS have posted their latest accounts at Companies House.
And, although the accounts for the year ended 30 November 2014 are unaudited and don’t include a profit and loss account, they appear to show that the club made a small profit of just over £20,000 for the 2014 season.
At the end of the year the club had net liabilities of £1,511,688, but of that figure £1,016,974 is owed to shareholders, of which £853,500 is owed to Chairman Michael Carter.
“They have agreed that these accounts will not be repaid until such time as the company has adequate funds available to allow it to pay its other debts as they fall due,” says a note to the accounts.
“Following the year end the company has continued to pay its creditors as they fall due. All amounts due to HMRC as disclosed on returns filed have been pad on or before their due dates; all loan payments to the RFL have been made on a timely basis and all trade creditors are being paid on terms.”
At the balance sheet date the amount owed to the RFL was £134,750, reduced from £377,499 a year earlier.
Meanwhile Sir Rodney Walker, the Chairman of the Wakefield Community Stadium Trust, has told League Express that he is growing more optimistic about securing a new stadium for the club.
“It’s been a long haul and there is still a long way to go, but you are speaking to me at the end of a week in which we have seen more progress in terms of my optimism for a successful outcome than we’ve seen for a year or two,” said Sir Rodney.
“The problem is that I’ve had three different Chairmen to work with and a change in the economic environment. When we started this process, raising money wasn’t as difficult as it is now.
“I am more optimistic now than I have been for some time that we will get a new stadium for Wakefield fit for purpose.
“The club is very keen to go to a new stadium at Newmarket and I was with the developer 48 hours ago. They are still committed to helping the club financially wherever the decision is to have the stadium.
“There is unquestionably a groundswell among some supporters that Belle Vue should be refurbished as part of a development project for the whole of that area of Wakefield. The local Council has announced a new outer ring road for Wakefield that will pass very close to the Belle Vue area.
“But for now all I want to say that I am more optimistic than I have been for some time that we will be able to secure a new stadium for the club.”
Less promising, however, is the prospect of retaining current coach Brian Smith for next season. League Express understands that Smith is likely to return to his farm in Australia at the end of the season
I understand and sympathise with the disgruntled fans who feel they should have been consulted before planning to leave our ancestral home forever, particularly without any other permanent home guaranteed within the city or outside. It may seem suicidal for the club, BUT...
People forget what position we we're left in by the end of the Glover/Elston period. They saw no option than to put us back into admin. It was only MC/CB's intervention that prevented that. Where would we (and lots of creditors) be now if that had been allowed to happen? To recover from that position was something of a miracle in itself. Follow that with reduced crowds and crippling rent and repair bills, the future was still unsustainable. There was no choice. We could not stay at BV on the current terms. So, you try to reduce the rent or you move to a more viable site. It would seem that BOI are not interested in keeping us as tenants at a lower rate, so the only option is to move, hopefully temporarily.
I view it like this, moving away may well be the death knell for the club, but there's no point in worrying about a death sentence from a future trial if we've already had our final meal and the gallows are prepared for mismanagement crimes of the past. If we don't get a pardon from the current situation, we'll already be swinging from the noose long before any other project can materialise.
Michael And Chris are both very aware that the club needs to be in Wakefield but, as for playing a dangerous game, that started around 10 years ago and there will be risk in every decision taken, but they still have to be taken. Yes, some fans will not be comfortable with the outcome - whatever that is - but the Trust is committed to a new stadium at Newmarket and is working hard towards that goal. We are still 'negotiating' and now we are at the end of the holiday period we hope to publish our position very shortly. As for the question of where we play whilst we wait, that is for the club alone to decide and, whilst I have an opinion, it is not my call and I will understand whatever the decision is!
I understand and sympathise with the disgruntled fans who feel they should have been consulted before planning to leave our ancestral home forever, particularly without any other permanent home guaranteed within the city or outside. It may seem suicidal for the club, BUT...
People forget what position we we're left in by the end of the Glover/Elston period. They saw no option than to put us back into admin. It was only MC/CB's intervention that prevented that. Where would we (and lots of creditors) be now if that had been allowed to happen? To recover from that position was something of a miracle in itself. Follow that with reduced crowds and crippling rent and repair bills, the future was still unsustainable. There was no choice. We could not stay at BV on the current terms. So, you try to reduce the rent or you move to a more viable site. It would seem that BOI are not interested in keeping us as tenants at a lower rate, so the only option is to move, hopefully temporarily.
I view it like this, moving away may well be the death knell for the club, but there's no point in worrying about a death sentence from a future trial if we've already had our final meal and the gallows are prepared for mismanagement crimes of the past. If we don't get a pardon from the current situation, we'll already be swinging from the noose long before any other project can materialise.
Michael And Chris are both very aware that the club needs to be in Wakefield but, as for playing a dangerous game, that started around 10 years ago and there will be risk in every decision taken, but they still have to be taken. Yes, some fans will not be comfortable with the outcome - whatever that is - but the Trust is committed to a new stadium at Newmarket and is working hard towards that goal. We are still 'negotiating' and now we are at the end of the holiday period we hope to publish our position very shortly. As for the question of where we play whilst we wait, that is for the club alone to decide and, whilst I have an opinion, it is not my call and I will understand whatever the decision is!
Good work as always,
It would seem that SRW is favouring a redevelopment of Belle Vue over a move to Newmarket?
Will this be a reply or just like the rest a method to kick the discussion into the long grass until the season is over. I believe it as become rather political with Carter and the less than helpful conservative MP against the Labour run council. I hope I am wrong because the only loser will be Wakefield Trinity and we the supporters.
Rodney Walker is flip-flopping like a politician at the moment - it appears that he's either not in the loop and is reacting to things without full knowledge, or he has aligned himself with YCP's position, which appears to be at odds with the club and the Trust.
I'm out on Walker,something doesn't ring true about him,with all his past successful projects,to let a small thing like BV stutter for as long as it as probably me being suspicious