Barrow Raiders making profit despite winding up threat
Last updated at 08:23, Friday, 06 July 2012
BARROW Raiders have revealed they are now making an operating profit – despite facing a winding-up order in the courts this week.
The Craven Park club had been threatened with action by Her Majesty’s Revenue and Customs after failing to settle an unpaid tax bill.
The case had been due to be heard at the Companies Court, in London, on Monday, but the bill with HMRC was settled two months ago and the case discontinued.
Raiders media director David Sharp said the bill related to the previous regime at the club and the issue had been dealt with swiftly as soon as it was brought to their attention.
“We got a letter from HMRC earlier in the year regarding an unpaid tax bill from the previous administration,” said Mr Sharp.
“We knew nothing about it until it came and it was settled in May, straight away.”
Barrow’s board took over in December after former chairman Des Johnston was banned from rugby league for eight years over financial irregularities and salary cap breaches at the club.
At an open meeting following the decision by the Rugby Football League to ban Johnston and relegate the club to Championship One, the directors revealed debts of more than £550,000.
Interim director, and subsequent chief financial officer, Neil Martin confirmed large parts of the debt related to unpaid tax and National Insurance debts, with repayment plans agreed with numerous bodies, including HMRC, to resolve the situation. Mr Sharp said those plans were being followed after Mr Martin’s departure from the club and added: “Neil Martin drew up the business plan and we are sticking with that. We had a plan drawn up with regard to the bank and the building society and all the payments are being met. We’re making an operating profit from when the new board took over, but o the money coming in is being used to pay these debts off.”
“Even including Super League, I think there are only a few clubs making an operating profit.
“We would like to think we are getting it right and getting the club on a sound footing, but the first thing is to get these debts paid off.“We have a plan in place and hopefully within the next couple of years, we’ll get rid of those debts and we can look to build.”
On the field, Barrow Raiders are enjoying a successful season, with the club currently top of Championship One, with 11 wins from 12 games.They need four more points from their remaining six matches to secure promotion.
First published at 13:41, Thursday, 05 July 2012
Published by http://www.nwemail.co.uk
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Greg Rose,I have to agree with you-you must be odd,not many go to both,the ones that do such as yourself tend to look through Rose tinted specs.
why is there a silly bitterness between some rugby and football fans I support both clubs they both represent barrow at different sports perhaps that makes me odd.
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