Riviera Stadium Limited to 31/3/20

Accounts to 31/03/21 now lodged at Companies House.

Debt due to RSL from TUFC has risen from £3,039,000 at 31/3/20 and 30/6/20 to £3,427,000 at 31/3/21.

£388,000 increase in twelve months (and in nine months too).

TUFC's loan from Sport England was taken out on 1/4/21.

Interestingly, the accounts state that Clarke Osborne is the sole director, whereas Companies House says Kawisara PHATHANACHAROEN was appointed on 17/11/20 and has not resigned. I wonder which is wrong and why.

Now filed for the year to 31/3/22 ..... and the accounts make for VERY surprising reading.

We already knew from TUFC's accounts that the loan from RSL to TUFC stood at £3,617,000 as at 30/6/21- although Dave Thomas has misinformed the general public by quoting inaccurate figures.

We now find that nine months later, at 31/3/22, that loan stands at ..... £3,617,000.

So in the nine months from 30/6/21 to 31/3/22, the money coming in to Torquay United FC Ltd from Riviera Stadium Ltd is the grand sum of zero pounds!!!!

Those who have been banging on about RSL subsidising the club to the tune of £2,000 per day are a very long way wide of the mark!!!!

So does that mean that the club is not losing money?

Not necessarily. The club could very well be racking up debt elsewhere.

When I get annoyed at how the club throws revenue away by discouraging support, I temper that by thinking the ownership is throwing its own money away by so doing. It seems that is no longer the case.

Interestingly, the accounts STILL state that Clarke Osborne is the sole director whilst Companies House says that Kawisara PHATHANACHAROEN is also a director. They cannot both be right!!