Bristol post £3.1million pre-tax loss to end of May 2020
Challenge Cup champions Bristol Bears have released their latest set of annual accounts, showing a pre-tax loss of £3.181million for the year to the end of May 2020, a huge difference from the operating profit of £1.798m posted in 2019.
The 33-page document described Bristol as a ‘going concern’ but stated that sufficient funds for the next twelve months and beyond were available thanks to the investment of owner Steve Lansdown and his Pula Sport Limited company.
Outlining a set of accounts that were only partially impacted on by the pandemic, Bristol chairman Chris Booy wrote: “As we entered 2020, in common with all other businesses across the world, we were hit by the severe trading shock arriving via the Covid-19 pandemic which still persists.
“The impact of all this on the hospitality and sport industry is now well documented. Activity in virtually all areas was heavily impacted with a market shutdown. The month of March saw a lockdown in the UK and the timescale for any meaningful relaxation of these rules for the stadium and return to normality is unknown.
“Turnover was adversely affected in the final quarter of trading between March and May. Overall, turnover in the financial period reached £10,987m (2019 – £9.392m) and recorded operating (pre-tax) losses of £3.181m (2019 – operating profit of £1.798m).
Ex-Scotland lock Jim Hamilton doesn't hold back in outlining his current Lions pecking order at second row ? https://t.co/1p2aW49jhe
— RugbyPass (@RugbyPass) November 4, 2020
“Turnover included advanced income from Premier Rugby Limited in respect of future broadcasting income, which is being released over four years, having been received in full in the year to May 31, 2019. The taxation charge, and therefore net loss for the year, includes he impact of a reversal of group loss relief tax income from 2019 where those reliefs were not subsequently required.
“These operating losses have increased the net liabilities as at May 31, 2020, to £22.97m (2019 – £18.86m). The value of the investment in the PRL remains at £13.865m. Deferred income includes £9.079m (2019 – £12.096m) of broadcasting income from PRL, which is being released to the profit and loss account over four years.
“The extent of the operational and financial impact of the Covid-19 pandemic on the UK economy, professional rugby in England and Bristol Bears is, as yet, unknown given the ongoing developments in infection rates and the Government response. The directors recognise that there remains significant operational and financial uncertainty.”
Despite the concerns raised by pandemic, Bristol later stated in their accounts that there were no worries for their immediate future. “The directors are confident that, taking into account the commitment by Pula Sport Limited, the company and group will have sufficient working capital until the end of the 2020/21 season and beyond for the foreseeable future, being not less than twelve months from the date of approval of these financial statements.”
Click here to read the full report.
EPISODE 5 of RUGBYPASS OFFLOAD
Special guest CJ Stander joins Dylan Hartley, Jamie Roberts and Christina Mahon to wrap up the #sixnations2020 and look forward to lots more international Rugby ?
iTunes – https://t.co/lkYxZZv3nf
Spotify – https://t.co/OglUEbEJfY#RPoffload pic.twitter.com/FDq01DV7DC— RugbyPass (@RugbyPass) November 4, 2020
Comments on RugbyPass
We’re building a bridge but can't agree where the river is.
2 Go to commentsfirst no arms shoulder or helmet tackle into his rib cage is going to be so very painful even to watch. go back to RU mate.
1 Go to commentsBulls by 5. Plus another 50.
3 Go to commentsJohan Goosen avatar. Cute. Surely someone at RP knows how to do a google image search?
3 Go to commentsCan’t these games play a little earlier? Asking for a friend.
3 Go to commentsIt’s impressive that we can see huge stadiums with attendance in the 40 000 to 50 000 region. It shows how popular this competition is becoming. What is even more impressive is the massive growth in broadcast viewership. The URC is one of the two best leagues in the World, the other being the Top14.
7 Go to commentsChristie is not Sottish, like the majority of the Scotland team.
2 Go to commentsHold the phone, decline over-rated. Is it a one game, dead cat bounce or the real thing? Has the Penney dropped? Stay tuned.
45 Go to commentsTotally deserved win for the Crusaders Far smarter than the Chiefs who seem to be avoiding the basics when it matters Hotham showed them what was missing and Hannah seems a real find - a tad light but that can be fixed over time
8 Go to commentsGreat insight into the performance culture with Sarries and I predict Christie will be a fixture in the Scotland team now for some time to come. However, he is slightly missing his own point around Scotland “being soft” when he cites physicality examples in defence of that slight. The issue is much closer to the example he referenced around feeling off before a game but being told “it doesn’t matter, you can still play well” by Farrell. Until Scotland can get their psyche in that square, they will carry on folding under extreme pressure…
2 Go to comments> We are having to adapt, evolve and innovate more than when we were in Super Rugby where there was only really one style that everybody had to play to gain the most success. Have = able to? Interesting what that one style might be? I thought SA sides still had bad tours now, or at least bad schedule, months away? Those extra few hours flights have to be a killer though, no surprise to see their sides doing so badly at the start of the season each year. I wouldn’t enjoy that unfairness as a supporter.
7 Go to commentsThe problem for NZ, and Aus, is they ripped up the SR model and lost a massive chunk of revenue that hasn’t been replaced. Don’t forget SA clubs went North because they were left with no choice, Argy unceremoniously binned and Japan cast adrift. Now SR wasn’t perfect, far from it, but they’ve jumped into something without an effective plan, so far, to replace what they’ve lost. The biggest revenue potential now lies in Japan but it won’t be easy or quick to unlock, they are incredibly insular in culture as a nation. In the meantime, there is a serious time bomb sitting under SH rugby and if it happens then the current financial challenges will look like a picnic. IF the Boks follow their provincial teams and head north then it’s revenue meltdown. Not guaranteed to happen but the status quo is a very odd hybrid, with the Boks pointing one way and the clubs pointing the other way. And for as long as that remains then the threat is real.
45 Go to commentsI think Etene has had some good tuition, likely while at the Warriors to be a professional that helped his rugby jump, but he was certainly thrown in the deep end way too early. Should have arguably 20 less SR caps, and therefor a way better record that he does at his age, but his development would have been fast tracked by the need to satiate his signing away from league. Again, credit to him and others that he has done it so well. Easy to fall over under that pressure in the big leagues like that but he kept at it when I myself wasn’t sure he was good enough.
1 Go to commentsAwesome story. I wonder what a bigger American (SA) scene might have mean for Brex.
1 Go to comments“Johnny McNicholl and the Crusaders” save a Penney. Who has been in camp this week and showed them how to play?
8 Go to commentsSo, reports of the Crusaders’ demise / terminal decline are perhaps just - slightly - premature/exaggerated…? 🤔 Will we see a deep-dive into that by the estimable Rugbypass scribes, and maybe one or two mea culpas? Thought not.
8 Go to comments1. The Chiefs are rudderless without DMac, which enhances his AB chances 2. Chiefs pack are powderpuffs. The hard men arent there anymore 3. They had their golden title chance last yr and wont threaten this yr. Gone in second round of playoffs.
8 Go to commentsHonestly, why did you have to publish such a foolish article the day they play us? 😂
45 Go to comments> They are not standalone entities. They are linked to an amateur association which holds the FFR licence that allows the professional side to compete in the league. That’s a great rule. This looks like the chicken or egg professional scenario. How long is it going to be before the club can break even (if that is even a thing in French rugby)? If the locals aren’t into well it would be good to se them drop to amateur level (is it that far?). Hope they can reset from this level and be more practical, there will be a time when they can rebuild (if France has there setup right).
1 Go to commentsWhat about changing the ball? To something heavier and more pointed that bounces unpredictably. Not this almost round football used these days.
35 Go to comments