Which Speedway Clubs Are Making A Profit.

[Red Flag 454]

I've been meaning to ask for a while, and your post have given me the opportunity, but is the sponsor, Dave Parry, the same guy who rode for Wolves in the 60s?

Yes it is And he was team manager around 1977-8 time

[STEPHEN 333 58]

I've been meaning to ask for a while, and your post have given me the opportunity, but is the sponsor, Dave Parry, the same guy who rode for Wolves in the 60s?

Rode for the Crewe Kings in the early 1970's, was a very capable rider too.

[uk_martin 1,606]

IOW just announced they are in profit this season!!

How much profit has been made?

 

Are you the tax man?

 

Has Jelly Corbyn sent you to make sure that all those dirty capitalistic profiteering enterprises pay their taxes? Even those based in off-shore tax havens?

[Little Thumper 528]

 

Are you the tax man?

 

Has Jelly Corbyn sent you to make sure that all those dirty capitalistic profiteering enterprises pay their taxes? Even those based in off-shore tax havens?

 

Fair cop, Gov.

Yes I am from HMRC and I shall be knocking on some doors in Perry Barr very soon, as we have received a tip off that a Big Knob is operating in the area.

 

Nuff said.

[uk_martin 1,606]

 

Fair cop, Gov.

Yes I am from HMRC and I shall be knocking on some doors in Perry Barr very soon, as we have received a tip off that a Big Knob is operating in the area.

 

Nuff said.

 

You should put out an advert in the small-ads column of the local paper..."Little Thumper looking for a Big Knob" - You might get more than you are bargaining for. :rofl:

[Little Thumper 528]

 

You should put out an advert in the small-ads column of the local paper..."Little Thumper looking for a Big Knob" - You might get more than you are bargaining for. :rofl:

 

uk martin, you are so very helpful!

And of course, yet again, I bow to your superior knowledge in these matters.

 

Just between the two of us, you might perhaps like to have a quick look at some advice that I gave to another tortured soul:-

 

http://www.speedway-forum.co.uk/forums/index.php?showtopic=76007

 

Hope it helps!

 

And don't forget, dear uk martin, you are among friends here, so don't feel inhibited and don't be scared about letting it all pour out.

 

Always remember, a problem shared is a problem doubled.

 

Be careful out there.

[Little Thumper 528]

So, perhaps one of my clever friends would have a little look at Buxton's (Buxspeed Ltd.) abbreviated accounts and tell me what all those numbers mean!

 

https://beta.companieshouse.gov.uk/company/03951057

 

Many thanks.

[waiheke1 4,295]

Tbh everything on there is self explanatory, but tells you very little. Appears to have solvency issues, but in the absence of cash flow,p&l or statement of movements in equity you can't come to any meaningful conclusion.

For example, the poor current ratio could theoretically be the result of payment of a significant cash dividend to the shareholders. Unlikely, but a balance sheet on its own is very little use to get meaningful understanding.

[Little Thumper 528]

Tbh everything on there is self explanatory, but tells you very little. Appears to have solvency issues, but in the absence of cash flow,p&l or statement of movements in equity you can't come to any meaningful conclusion.

For example, the poor current ratio could theoretically be the result of payment of a significant cash dividend to the shareholders. Unlikely, but a balance sheet on its own is very little use to get meaningful understanding.

 

Thanks for that.

 

So the abbreviated accounts for Stoke Speedway (Crewsline Ltd) will be equally uninformative?

 

https://beta.companieshouse.gov.uk/company/03549190

 

There don't seem to be any great stashes of money anywhere...........argh!

[MrMungo 708]

 

Thanks for that.

 

So the abbreviated accounts for Stoke Speedway (Crewsline Ltd) will be equally uninformative?

 

https://beta.companieshouse.gov.uk/company/03549190

 

There don't seem to be any great stashes of money anywhere...........argh!

 

Stashes of money in regards to clubs or as a sport as a whole?

 

There is money in the sport, just not a lot in running a speedway club!

 

https://beta.companieshouse.gov.uk/company/04703061/filing-history

[Little Thumper 528]

 

Stashes of money in regards to clubs or as a sport as a whole?

 

There is money in the sport, just not a lot in running a speedway club!

 

https://beta.companieshouse.gov.uk/company/04703061/filing-history

 

I see what you are saying, MrMungo!

You wouldn't think that importing Jawas could be such a nice little earner.

 

I have it on very good authority that Taffy Owen used to import speedway bikes through Ireland to sell in his Hyde Road emporium.

 

The method that he used could be called "creative and tax efficient".

[MrMungo 708]

I missed that. Balance sheet has "Intangible assets" - £10000. Rider contracts possibly?

£10000 is the cost of the promotional licence, as per Redcar's notes.

[Jayne 312]

So, perhaps one of my clever friends would have a little look at Buxton's (Buxspeed Ltd.) abbreviated accounts and tell me what all those numbers mean!

 

https://beta.companieshouse.gov.uk/company/03951057

 

Many thanks.

 

 

Not sure why you are so interested in our finances but the hard facts are that every year it is a struggle to make ends meet and ensure all of our bills are paid (which incidentally they are). Some years we have had a shortfall and we have had to find the money to make it up from our personal income. Some years we have a small amount left in cash or in the bank with which to start the next season off as there are plenty of bills even at NL level that need paying before the tapes go up. We have never been a rich club and never will be but with a lot of hard work and some help from our sponsors we have managed to stay afloat. This year we will have to find the money to repay the air fence loan as Buxton Speedway don't have it at this moment in time. We have also had to purchase a new tractor, all extra costs that the club could do without but have to meet to carry on.

[greyhoundp 990]

Not sure why you are so interested in our finances but the hard facts are that every year it is a struggle to make ends meet and ensure all of our bills are paid (which incidentally they are). Some years we have had a shortfall and we have had to find the money to make it up from our personal income. Some years we have a small amount left in cash or in the bank with which to start the next season off as there are plenty of bills even at NL level that need paying before the tapes go up. We have never been a rich club and never will be but with a lot of hard work and some help from our sponsors we have managed to stay afloat. This year we will have to find the money to repay the air fence loan as Buxton Speedway don't have it at this moment in time. We have also had to purchase a new tractor, all extra costs that the club could do without but have to meet to carry on.

 

Yes and well done Jayne, at least Buxton dont take the easy way out and NOT pay riders..

I dont get an earlier point raised whereby Captains have to sign to say if they have been paid, its not relevant unless the BSPA were to step in and pay the riders, which IMO they should do..

[Little Thumper 528]

Not sure why you are so interested in our finances but the hard facts are that every year it is a struggle to make ends meet and ensure all of our bills are paid (which incidentally they are). Some years we have had a shortfall and we have had to find the money to make it up from our personal income. Some years we have a small amount left in cash or in the bank with which to start the next season off as there are plenty of bills even at NL level that need paying before the tapes go up. We have never been a rich club and never will be but with a lot of hard work and some help from our sponsors we have managed to stay afloat. This year we will have to find the money to repay the air fence loan as Buxton Speedway don't have it at this moment in time. We have also had to purchase a new tractor, all extra costs that the club could do without but have to meet to carry on.

 

I was hoping that Jayne would be brave enough to chip into this discussion as she is one of the few (only) promoters who is prepared to express an opinion.

 

I think that the one conclusion that one could draw from this topic is that there is quite a lot of money in speedway but the majority of it is at the top of the pyramid and there is very little at the bottom.

 

Yes, there are one or two promotions where there may be some interesting accounting practices but sooner or later, they will come a cropper. as HMRC are taking more of an interest in areas where previously they looked the other way.

 

Even an accounting ignoramus such as myself can see that the Buxtons of this world are hardly raking it in and when you consider the effort that the Jaynes of the speedway world put in on top of all their other occupations and responsibilities, you do really wonder why they keep doing it year after year.

 

But, at the risk of repeating myself, I truly appreciate the effort that the small promoter puts in and I do value their continued passion for the sport despite all the challenges.

 

So I disagree with Jayne in one respect and I think it is important that the speedway supporter has at least some understanding of the financial position of the club that they follow and to which they hand over their money each week.

 

Perhaps with this knowledge, the supporters will clearly see which clubs are being run by passionate, speedway-loving promoters and which are being run by accountants and make their spending choices accordingly.

 

Just my opinion, obviously.

Edited October 21, 2016 by Little Thumper