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Training ground

Training ground

volley;n3425506 said:
this isn't a new application just the detailed version for this plot.
"Reserved matters application (namely appearance, landscaping, layout, scale) pursuant to outline application 06/2017/0757 for 45no. dwellings"

Cleator Manor Ltd are the landowners for Ingol Golf Course.......
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OK thanks for that information.
 
Wasn't the training ground transfered away from whichever Hemmings company is building the houses to PNE ? There was a thread detailing this. Then John Kay announced at a fans forum, "What do you want, a £10m player or a £10m training ground? It's one or the other".

Stinks.
 
Jack Daniels;n3425551 said:
Wasn't the training ground transfered away from whichever Hemmings company is building the houses to PNE ? There was a thread detailing this. Then John Kay announced at a fans forum, "What do you want, a £10m player or a £10m training ground? It's one or the other".

Stinks.
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Well it seems they answered that question for us, we never got a £10m striker? So where's the Training Ground?
 
Jack Daniels;n3425551 said:
Wasn't the training ground transfered away from whichever Hemmings company is building the houses to PNE ? There was a thread detailing this. Then John Kay announced at a fans forum, "What do you want, a £10m player or a £10m training ground? It's one or the other".

Stinks.
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I have it on very good authority that the land for the training ground was sold to the the club at full market value by TH, can't wait for the next accounts, that's one way of making sure the club runs at a loss (given transfer income) thus aiding corporation tax off setting.
 
I think you might find that selling the adjacent land for houses has a major part to play in the financing of the training ground.
 
Worthington;n3425611 said:
It's the fault of the newts I tell ya.

Nice One.
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Leave the poor newts alone. They have never been on that site. As I understand it, the major job to be done first is the drainage system, which could be problematic. I have seen no sign of anything happening on that front yet.
 
billymac;n3425618 said:
I have it on very good authority that the land for the training ground was sold to the the club at full market value by TH, can't wait for the next accounts, that's one way of making sure the club runs at a loss (given transfer income) thus aiding corporation tax off setting.
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The land will almost certainly have been transferred to the club at markey value, doing otherwise would not be accepted by HMRC and the club is also obliged to include the land at true value on the balance sheet.

The cost of the land cannot be offset against any profit on transfers either, accounting and taxation do not work like that, You can only offset losses on the disposal of assets against profit, not capital expenditure.
 
LostinYorkshire;n3425651 said:
The land will almost certainly have been transferred to the club at markey value, doing otherwise would not be accepted by HMRC and the club is also obliged to include the land at true value on the balance sheet.

The cost of the land cannot be offset against any profit on transfers either, accounting and taxation do not work like that, You can only offset losses on the disposal of assets against profit, not capital expenditure.
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It was intimated that TH had "gifted" the land to the football club, I have been told that TH sold the land to the club at full market value, this would show as a cost in this years accounts thus reducing any potential profit that the club might declare (transfer income) and if a trading loss is made then this can be offset against part of the holding companies GP.
 
billymac;n3425656 said:
It was intimated that TH had "gifted" the land to the football club, I have been told that TH sold the land to the club at full market value, this would show as a cost in this years accounts thus reducing any potential profit that the club might declare (transfer income) and if a trading loss is made then this can be offset against part of the holding companies GP.
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Hi Bill,

In practice Hemmings has probaby given the land to the club.

However for taxation purposes the land still has a value, which is the market value at the time the land was transferred to the club. This value will be entered in the company accounts on the balance sheet.

It is the same as if you are left property in a will. The house doesn't cost you anything but it still has a value for tax purposes, for inheritance tax purposes the house has to be valued at the time of transfer and this will be used to calculate any IHT owed and any future taxes on the disposal of the property.

The cost of property or any investment cannot be deducted from profit for income or corporation tax purposes. If you buy and sell cars for a living, you will pay tax on the profit you make during the year, you cannot deduct the cost of a car you haven't sold to reduce your profit and tax. That car only becomes relevant for income/corporation tax purposes when you sell it, it is the same for land.
 
Keep clicking on this thread in the hope that someone one day will post that they have just been past the site and they are moving the diggers and stuff in! 🙂
 
Walton;n3425815 said:
Keep clicking on this thread in the hope that someone one day will post that they have just been past the site and they are moving the diggers and stuff in! 🙂
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Last time I went past the site they were grazing sheep on it.
 
It's gotten to the point where I hold little to no hope of this actually happening now.
 
utw;n3425841 said:
It's gotten to the point where I hold little to no hope of this actually happening now.
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Just out of interest, anyone who lives nearby or passes the site regular, it is noted that there are sheep on the site but is any work being carried out on the housing part?
 
Walton;n3425846 said:
Just out of interest, anyone who lives nearby or passes the site regular, it is noted that there are sheep on the site but is any work being carried out on the housing part?
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Only thing I have noticed over last month or so is that the sheep have gone.
 
I wonder how much training we're doing today? This is where the indoor facility would come into it's own.
 
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