New MASH Holdings accounts released by Mike Ashley – Newcastle United highlights
News just in of the latest Mike Ashley MASH Holdings accounts.
These are for the financial year up to 28 April 2019.
MASH Holdings is owned 100 per cent by Mike Ashley and is basically the shares he owns in all of his business interests, including the 100% ownership of Newcastle.
Amongst what you will find below is…
Whilst Newcastle United’s turnover was only around 4.5% of the overall Mash Holdings turnover, in 2018/19 Newcastle United provided a massive 20% of the Mash Holdings profits.
We also have confirmation that Mike Ashley (Mash Holdings) banked £9m in December 2019 for the sale of land next to St James Metro for development, Ashley having bought it for a lower amount from NUFC.
Still nothing concluded on how much NUFC will have to pay HMRC in alleged underpaid tax and national insurance, this relating to when the SJP offices were visited in April 2017 by HMRC officials armed with a search warrant.
Staying in the Premier League ‘remains the number one objective of the group’…is there any other objective under Mike Ashley???
The following info is available for any member of the public to view at Companies House.
Some edited highlights from the Mash Holdings Limited 2018/19 accounts concerning Newcastle United:
‘Newcastle United Football Club (NUFC) Group’s turnover accounts for about 4.5% of the total revenue, 20% of profit before tax and 6% of the total assets of the Mash Holdings group’s consolidated accounts.’
‘…a fall of £4.5m in operating profit before player amortisation and impairment from £58.9m to £53.5m.
A fall in amortisation and impairment charges of £2.7m, combined with an increase in profit on disposal of players’ registrations of £21.0m (2018: £3.6m) resulted in an increased profit before tax of £41.2m (2018: £22.9m), which after corporation and deferred tax charges was reduced to £34.7m (2018: £18.6m).’
‘Strawberry Place Newcastle Limited:
The land adjacent to St James Metro Station was sold on 19 December 2019 for £9,000,000.’
‘Newcastle United Football Club
Being a member of the Premier League is key to all aspect of the club’s operations and remains the number one objective of the group. That objective does not change as a result of COVID-19.’
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