Gaelic players announce media ban

[cornafean]

It doesn't cost 500k- ever hear of political pressure and votes? There is no way a Govt would bring in a tax break like that- it would cost them votes and it would leave them open to a multitude of challenges. It was never a runner. Anyway the Govt has closed 90% of those schemes that you're referring to. They aren't going to open another one.
the 40% tax relief to professional sportspeople is likely to be scrapped at the next Budget so amateurs haven't a prayer at this stage.

As I said already, the tax system is already riddled with such tax breaks, nost of them motivated by"political pressure and votes" and most of them theoretically vulnerable to High Court or Supreme Court challege (the latter which would indeed set you back half a million or the guts of it).

By the way, I'm not arguing for another silly tax break, in my view the sports grants/tax breaks/political slush fund horse has bolted, so there's little point in arguing this to death.

[cornafean]

A counter arguement....
Listen lads in the days of shares falling through the floor, an associate membershiup of the GPA could indeed be the investment we are looking for.  Slow to pay out at first, if Dessie secures more sponsorships or indeed if we get Pay for play instead of the money going into the GAA kitty we can be part of the GPA "siphon" Now where do I sign up? 

But how many real shareholders are there in the GPA? That's the real question!! Answer: a lot less than you would think!

[Bud Wiser]

There are only two shareholders in the Gaelic Players Management Company, one with a 75% stake and the other with a 25% stake.  Since it is not a company without shares and limited by guarantee, as is normal for a non-profit making company, I would assume that their assets will be taxed.

I did accounts for a company there a while ago and the company owed P.A.Y.E. and a few bob in Vat.  Mr Tax man went directly into the companies bank account and scooped out what he wanted without as much as a warning.  I applied for Grant Aid from the Enterprise Board and I was told that I had to produce a Tax Clearance Cert even though I was only starting a new company.   What I am saying is, how can another company apply for a Government Grant if they owe VAT, or better still, how did they get previous grants at a time when they appeared to owe vat?

Here is the information that is available from the CRO Site.
Donal O'Neill and a guy called David Burke own 75% and 25% of the shareholding respectively.
The company had net assets of €159,694 as at the end of December. This is a sizeable sum for a company owned by only 2 individuals in toays stormy weather. The company paid Corporation Tax of  €21,209. The notes to the accounts do not include (as they should) a reconciliation of how this figure is calculated, but the accounts do note that the entire Corporation Tax bill arose in respect of profits charged at 12.5%., this would indicate that the company made profits of €169,672 in 2007, again a tidy sum (after directors salaries etc) to be shared among two individuals.
The movement in 2007 in "equity shareholders funds"  as per the Balance Sheet is €145,273, which ties up pretty closely with the post-tax profits of €148,463 as indicated by the Corporation Tax bill, as above. The accounts record the company as owing €78,590 to the Revenue as at 31 December 2007 and €52,973 as at 31 December 2006.  So was this owed when they got original funding? This would normally appear to indicate an ongoing problem with VAT arrears and/or cashflow, which is hard to understand.  The Balance Sheet figure for "Creditors falling due within 1 year" of €193,041 does not tie up with the total of the corresponding note, Note 5, €103,226.   Why?  I don't know, especially when the accounts were audited without qualification.  the Balance Sheet includes "Creditors falling due within 1 year" of €93,056, which is referenced to note 6, but  Note 6 does not appear in the notes. The notes jump from Note 5 to Note 7. Again the same omission was made in the 2006 accounts. The company had "cash in bank and at hand" of €121,125 as at 31 December 2007, which is very curious given the existence of the large VAT liability as at that date. The  "cash in bank and at hand" as at 31 December 2006 was €247,626. The company's debtors as at 31 December 2008 were €319,180, a massive increase on the corresponding figure of €63,510 a year earlier.  Ciaran McArdle was appointed as director on 1 October 2008 and signed the accounts in this capacity on 22 October 2008. The company's 2008 B1 return was made up to 30 September 2008 (the maximum 9 months after the year end of 31/12/07) and Ciaran McArdle signed the B1 as a director on 24 October 2008. McArdle's appointment as a director after the year-end is not recorded in the accounts.
The auditor's report on the abridged accounts is dated 24-10-08, two days after the directors signed the accounts. The date on which the auditor's report on the full financial accounts is required to be stated as part of the auditor's report on the abridged accounts.  it is standard auditing practice to date the audit report concurrent with the date the directors have signed the accounts. (Note in this regard that, as the date is handwritten on the audit report, the final digit of this date is a bit unclear.). Note 1.4 indicates that the company has a defined contribution pension scheme for its employees. There is no mention in the financial statements of any amounts owing by the company to the directors at the year end, or of any transactions between the company and the directors during the year. There is no mention either of any connection between Ciaran McArdle (who is listed as an "accountant" on the B10 return filed with the CRO to record his appointment as director) and the auditors Kearney McArdle McEnaney & Company, so it can probably be assumed that no such connection exists simply because you can't be a director of a company and be the companies auditor at t6he same time, although a certain Hugh Hannigan gave this law a whole bnew meaning about five years ago. So basicly, after all that I haven't a clue who the GPA are, how much money they have, how much money they owe or how much money they want and what they want it for

[ardmhachaabu]

Curiouser and curiouser BW.  Thanks for that detailed analysis.

So the GPA in itself pays nothing, offers no annual accounts, and a couple of blokes running another business profit rather nicely from the takings of the GPA

I think that's it ?

[Bud Wiser]

I'm not out to 'get' the GPA or to even suggest that there is any wrongdoing whatsoever by any of the directors of the company, I am merely repeating information that is freely available.

Beiing entitled to my opinion as anyone else is, the point I make is that, especially today, it is hard to get sponsorship or grants.  Even RTE themselves have a hard time getting sponsorship.  If the GAA is successful at getting sponsorship and the various county boards are getting sponsorship they are probably getting it from sources that could be targetted by the GPA.  However, if it becomes a situation reversed and the GPA get the only MAJOR sponsorship thats around and the tax man comes along with his recovery truck everyone, the GPA, the GAA and the players could end up with frig all.  Now thats only my opinion and it may well be a crazy one but show me a limited company today that has 200,000 in profits and I will show you a tax bill.

[JMohan]

Bud Wiser remind me never to introduce you to my ex wife ...

Interesting - the reason I'm most interested in it is the whole money making aspect - who pays for the magazine and the publicity stuff? Who pays Dessie? Who pays the boys for the drinks etc ...

Who and how much did they get from the Club Energise deal? Who set it up?

etc etc .... these are just some of the questions I'm interested in - and I'm not out to get the GPA either - it's just these are pretty interesting questions ...

[thebandit]

A counter arguement....
Listen lads in the days of shares falling through the floor, an associate membershiup of the GPA could indeed be the investment we are looking for.  Slow to pay out at first, if Dessie secures more sponsorships or indeed if we get Pay for play instead of the money going into the GAA kitty we can be part of the GPA "siphon" Now where do I sign up? 

Maybe the GPA is a pyramid scheme!!!

[rrhf]

certainly not square. 

[orangeman]

Donal Og is exempt from the media ban - see the hurling thread. 

[The GAA]

good to everyone getting along...

[cornafean]

That's a very interesting story you have uncovered, Bud Wiser.  It would be interesting to know just what is the relationship between the Gaelic Players Management Company Ltd and the GPA.

Profits of €200k a year for the promoters (over and above the salaries they enjoy as well) do not sit well with the "breadline" arguments pushed by the GPA in recent weeks and may be news to some GPA members.

I looked up the CRO website and bought a copy of the accounts for €2.50. They are worth a read. I wonder what's the story behind the big VAT bills?

[gerrykeegan]

I would suggest that VAT is probably what is due on the members subs. VAT on some small companies is only payable every 4 months (it used to be every 2) The bulk of their subs might come in at the same time and thats just the liability they are providing for.

[ExiledGael]

That's a very interesting story you have uncovered, Bud Wiser.  It would be interesting to know just what is the relationship between the Gaelic Players Management Company Ltd and the GPA.

Profits of €200k a year for the promoters (over and above the salaries they enjoy as well) do not sit well with the "breadline" arguments pushed by the GPA in recent weeks and may be news to some GPA members.

I looked up the CRO website and bought a copy of the accounts for €2.50. They are worth a read. I wonder what's the story behind the big VAT bills?

Expect this in the Indo or the Star in the coming days.
Originally I was prepared to give the GPA and Dessie the benefit of the doubt but I'm becoming more and more sceptical about them.

[tyrone86]

I'm not out to 'get' the GPA or to even suggest that there is any wrongdoing whatsoever by any of the directors of the company, I am merely repeating information that is freely available.

Beiing entitled to my opinion as anyone else is, the point I make is that, especially today, it is hard to get sponsorship or grants.  Even RTE themselves have a hard time getting sponsorship.  If the GAA is successful at getting sponsorship and the various county boards are getting sponsorship they are probably getting it from sources that could be targetted by the GPA.  However, if it becomes a situation reversed and the GPA get the only MAJOR sponsorship thats around and the tax man comes along with his recovery truck everyone, the GPA, the GAA and the players could end up with frig all.  Now thats only my opinion and it may well be a crazy one but show me a limited company today that has 200,000 in profits and I will show you a tax bill.

You sir, are a malcontent 

(just getting in before the crowd)

[orangeman]

Dessie has just been on RTE news there - he has eventually let the genie out of the bottle - bottom line is that he will accept a minimum of 5% or €3m. He says that worldwide, other sports get 5-15% so the GPA are at the bottom of the scale.

He says that the disruption to the GAA will continue - not giving interviews for the Munster final and the Leinster final is phase 1 in a "campaign". Phase 2 and 3 will involve different action.



So fair play to Dessie - he only wants €3m a year - so what about it