Former board members of Whitehaven are disputing the independently audited accounts which reveal the club’s worst financial figures in its 60 years.

The total loss, revealed to shareholders tonight at the club’s annual general meeting, is believed to be in the region of £200,000.

Haven made an operating profit of over £40,000 in 2005 but 12 months on they reported a loss of over £80,000 and the downward financial spiral has continued.

However, getnoticedonline.co.uk has been told that ex-members of the board have disputed the independently audited accounts, and claim the losses are much smaller.

In a statement published in the News and Star, former chairman Des Byrne said: “The former board of directors of Whitehaven RLFC have seen the accounts produced for 2006 and 2007 and will be making a response to them to the shareholders AGM.

“The board stood down at the end of February having been asked to do so to enable ‘someone to put some money into the club.’ This we were happy to do so if it enabled a backer to come forward and put some money into the club.

“This was not the case as it turned out but we have continued to support the club off-field in a number of ways.

“The figures contained within the accounts are not the debt of the club. At no time has the club been in this amount of debt.

“In 2006 the club traded at all times in the black at the bank. This was because within 2006 we had some profit from 2005 and money from a large commercial deal.

“For accounting purposes this money has to be spread over the four years of the deal therefore only a quarter of that figure appears in the 2006 accounts.

“In 2007 we traded at all times within our credit limits. We contest the way the figures for 2007 have been arrived at as we believe certain figures which have been held back for 2008 accounts should be shown in the 2007 accounts.

“This would greatly reduce the loss shown and we believe this is not a true reflection of the accounts for 2007. We believe the AGM is the correct forum to discuss this issue.”

Byrne and fellow directors Ken Shepherd, Ron Batty and Dave Farrell stepped down and will explain their position at tonight’s meeting.

---

Bookmark with: what are these?