Report this comment
  • "All the doom merchants are posting on here again, normal I suppose, but look beyond all this rubbish about development regions and Newport RFC becoming the side in the Rabodirect, it won't happen. As an Ebbw Vale lad now living now living in Caldicot and a season ticket holder of both the Dragons and Newport RFC for a number of years and watching how Ebbw Vale get on with an eye on Cross Keys, Pontypool and Bedwas as clubs that form part of the Gwent region and have Dragons players allocated to them, something that Pontypool could lose very shortly, shows how the Dragons are trying to build a truly regional concept in East Wales. As for the Dragons merging with London Welsh, this makes me laugh, why would either side want to do this, if London Welsh moved to Rodney Parade thier support would be devastated as would the Dragons should they move to Oxford, so realistically that is a none starter. The financial report is after all well over a year old and at less than £3 million and mainly down to the new stand is manageable and still less than the other three regions. As far as season ticket sales they are 80% up on the same period last year, so to me that says 80% more committed support this coming season. What time is the 2012/13 fixture list published, anyone know?"
  • This field is mandatory
  • This field is mandatory
  • Please note we will not accept reports with HTML tags or URLs in them.

  • Enter the above word in the box below

Auditors’ doubts over future of Newport Gwent Dragons

Auditors’ doubts over future of Newport Gwent Dragons

Auditors’ doubts over future of Newport Gwent Dragons

First published in Dragons South Wales Argus: Photograph of the Author by , Reporter

AUDITORS of Newport Gwent Dragons have cast doubt over whether the region can continue as a going concern.

In recent filed accounts for the year to May 2011, auditors Arthur Gait & Company said the region has liabilities of £2.4 million and incurred a net loss of £272,141.

"These conditions... indicate the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern," the accounts read.

The accounts of Dragons Rugby Limited say that the directors considered there were "adequate facilities for the company's requirements" for a period of at least 12 months from the date of signing of the balance sheet.

"However the margin of facilities over requirements is not large and inherently there can be no certainty in relation to these matters."

The accounts show that Dragons Rugby Limited owes £762,207 to its parents company Newport Rugby Football Club Ltd, and owes £1.16 million to sister firm Rodney Parade Ltd.

On both Newport Rugby Football Club and Rodney Parade's accounts, the auditor says: "Dragons Rugby Limited may not... be able to repay this amount to the company".

Dragons Rugby is dependent on continuing financial support from the Welsh Rugby Union, its bankers, directors, "group undertakings" and others, according to the accounts.

Comments (31)

Please log in to enable comment sorting

Comments are closed on this article.

Send us your news, pictures and videos

Most read stories

Local Info

Enter your postcode, town or place name

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree