Benn fails drug test

I work for a law firm and there is a chance that Benn hasn't paid everything owed. If the law firm are confident that Benn will have no problem generating funds to pay his fees in the future they may have allowed him to pay 50% for example and the rest will be paid when he starts earning money again.

 

If it is a jurisdictional get out probably no point in appealing. It's a loophole that will now close post Benn so that nobody else can take advantage of it. It stinks to high heaven, but these things ought to be crystal clear, you recognise other testing companies or you don't.

 

His latest accounts - https://find-and-update.company-information.service.gov.uk/company/10296258/filing-history

They show he had 700k in the bank upto July 2022. Before all of this kicked off.

I suspect quite a significant chunk of that of that has been eroded now.

 

All of that would be absolutely fine if it isn't governed by non-disclosure agreements. If UKAD could put a statement out saying "we lost a recent ruling on a technicality so now we're closing it to ensure failed tests are properly investigated - you've all been warned", everyone would know the score.

 

How long do we think the non disclosure agreement will last?

Surely there is a public interest element here

 

Did Hearn not come straight out and say it wasn't a technicality / jurisdiction decision? To me that told us it was covered by NDA and we'd never hear the truth, given it hasn't been mentioned by any other related party...

 

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Great read.

 

700k in earnings for a fighter that won a title is mental. No wonder Hearn has stuck with him, he must have done his bollocks on him.

And anyway, if hearn dumped him, Benn would only had signed with Warren after.

 

He's basically more than doubled his cash at bank every year since 2020.

From 113k to 300k to 700k.

Fair play, if it's not advances.

 

From the latest accounts I would guess that they made 948k profit for that accounting year.

They have a tax liability of £180,234 at the balance sheet date, divide that by the tax rate of 19% you get £948,600

£948,600 - £180,234 = £768,366 post tax profits.

The difference in retained earnings between the two years is £367,483

Which means likely £400k taken as dividend along with any money he put through payroll.

Must be nice!

People in the public eye should really use FRS 105 to file accounts. That standard gives nothing away as there are no notes.

 

Yep. Good work. I don't think he can do FRS 105 though. His balance sheet total is more than 316k and his turnover is more than 632k.

 

Impressive for him that he is earning so much money. But this is ultimately a fighter that Eubank fight aside has fought in less than half full arenas when headlining, he has never had a substantial following. If a fighter leaves him or he loses a purse bid Hearn is quick to Say the other promoter has 'massively overpaid' 'doesn't understand the business'. To this point I wonder how much he has lost on an unpopular fighter who hasn't fought in almost 18 months

 

You are of course right!

Hearn must have been paying him a pretty penny. I guess you have to marinate your potential ppv stars. Think he will eventually do his conkers with Benn. He isn't good enough quite frankly and there are no cheap world belts for him to win at Welter. Would he even be favoured against Essuman,?

 

Excellent writing, who is the author?

 

what is FRS105?