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Monday, September 22, 2014

Is The Club's Debt To The Council Growing?


The figure that the club owes Herefordshire Council has been quoted as being static at £65,000 for around three months.

It is currently unclear, with ongoing rent and rates due, whether the club is covering these payments as they are due or whether they are also building up further debt.

Today, Bulls News has asked Herefordshire Council whether they have received a response from the club to their statement last week, and whether the club are meeting their ongoing obligations. We have been promised answers as soon as they are available.

With the rent at £10,002 a year, and Business Rates of around £20,000 a year, the club would have needed approximately £8,300 over the last three months to cover the ongoing demands assuming a quarterly rent demand and standard Council rates payment schedule.

The Valuation Office Agency website lists the stadium as having a rateable value of £41,250, with the bill being 47.1% of the value according to the 'national multiplier' - giving a bill of £19,428.75.