It is not often we give 5under1and a mention but fair play to them for this signage near their ground.

This is definitely a case of a photo being worth a thousand words or more.

As the sign says ‘For Football Follow Newcastle’, I’ll drink to that.

No doubt somebody has either had a bit fun meddling with the photo, or somebody having an even bigger laugh in town planning at 5under1and council.

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9 comments
No Brainer
No Brainer

in fairness to him he doesn't shout from the roof tops on any item

AndyMac1
AndyMac1

It was an exercise in damage limitation from Fatman.

If the figures had revealed, what many had forecast, the true profit of £40-£50m (albeit pre tax) there would have been discontent on a major scale even from the SJP going faithful. 

So this post tax profit figure has kinda taken the wind out of the sails of the opposition which, I assume, was the point of it all ?

Gaffa201
Gaffa201

The 2013 accounts show £40m in tax losses not used so no tax will have been paid in the 2014 accounts.


For 2012 TV revenue was 55.6m and Commercial revenue 13.7m to fill the gaps.

RexN
RexN

@Gaffa201 Thanks for that. A part of the rationale was to look at what the club included and excluded when they made the original announcements.

radgiegadgie
radgiegadgie

@RexN @Gaffa201 Yes, and prior year losses can be offset against future profits given certain time limits.  Corporation tax is not simple but, I don't think Newcastle will be paying too much of it right now.

Demented_Man
Demented_Man

You would expect HMRC to take an interest in these figures, given they will receive considerable less corporation tax than expected.

As you say it's a mystery how operating costs could have increased so dramatically for no apparent reason.  After all, the club's whole operation seems pared down to the bone.

Sniff, sniff.  That's the smell of books being cooked.

radgiegadgie
radgiegadgie

@Demented_Man No, this won't be the case.  You have to add back any costs that might be disallowable for tax purposes.  We won't see NUFC's tax return but it is likely to be legit and different from the figures announced, Mash will hire tax specialists from a top four accounting practice and they will look for every loophole but, will not break the law.


LeazesEnder
LeazesEnder

Lee Charnley is ripping the heart out of one of England's important clubs - and Newcastle deserve better...Lee Charnley is a guy who has risen without trace....


Daily Mirror.


very apt bio.

mickg
mickg

Maybe he's scared of heights.......