News: Rotherham United's debt with ASD rises to over £9m
In the latest accounts of Rotherham-based manufacturing firm, ASD Lighting PLC, Rotherham United Football Club is listed as a debtor owing £9.4m, up from £5.2m in the previous year.
Both ASD Lighting PLC and Rotherham United have ASD Lighting Holding Limited as their parent company, connected by Tony Stewart, the founder of ASD Lighting and the man who saved the Millers in 2008. The businessman brought them out of administration and has overseen promotions, cup success and a move to a new stadium in town, at the same time as a period of sensible financial management, not something always shared by fellow league clubs.
Based on the Barbot Hall Industrial Estate, ASD Lighting has a reputation for innovation and quality and provides a range of products for domestic and commercial installations.
For the year ending June 30 2025, turnover was reported as £18m, down from £19.8m in the previous year. Sales to the UK were £15.8m (£17.9m in 2024), the rest of Europe £2.1m (£1.8m in 2024) and the rest of the world £0m (£0.1m in 2024). Included in the £2.1m to Europe were sales of £1.6m to ASD Lighting Europe Ltd set up to distribute and partner with customers in Europe.
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Gross profit is reported at £6.4m, down from £7m. with the manufacturer highlighting that despite rising material, utility and labour costs, the gross profit margin remains strong at 36%, up from 35% in 2024.
Administration costs at £8m increased by 4% from £7.6m last year. The main increases being staff related costs which went up £300k to £6.6m despite employee numbers reducing by three to 159.
It meant that ASD posted an operating loss (before interest and tax) of £1.6m compared to a profit of £0.6m in the previous year. A loss after interest receivable and tax was £849k compared to a £276k profit in 2024.
Rothbiz has previously reported on Rotherham United's 2023/24 losses which highlighted that the club can continue to trade as a going concern "but it must continue to rely upon the support of sponsors, in particular its fellow subsidiary company ASD Lighting PLC to enable it to do so."
The accounts confirm that ASD Lighting continues to provide £1m in sponsorship and advertising to the football club each year.
Documents also show that: "At 30 June 2024 included within debtors was £9,467,811 (2024: £5,204,737) due from Rotherham United Football Club (RUFC) Limited. The outstanding balance is repayable on demand."
The figure has risen from £929,150 in 2023.
Also included in other debtors is an amount of £12,514,906 due from R U Estates Limited, a company of which Tony Stewart and son Richard are directors. This is thought to have been established when the AESSEAL New York Stadium was constructed.
The debt is split between £600,962 due within one year and £11,913,944 due after more than one year. This loan is unsecured and bore interest at 2% above base rate per annum until January 2021 when it began to bear interest at 1.15% above base rate and is repayable over nine years in instalments.
Rotherham United's accounts for the period are due to be published within the next few months.
ASD Lighting website
RUFC website
Images: ASD
Both ASD Lighting PLC and Rotherham United have ASD Lighting Holding Limited as their parent company, connected by Tony Stewart, the founder of ASD Lighting and the man who saved the Millers in 2008. The businessman brought them out of administration and has overseen promotions, cup success and a move to a new stadium in town, at the same time as a period of sensible financial management, not something always shared by fellow league clubs.
Based on the Barbot Hall Industrial Estate, ASD Lighting has a reputation for innovation and quality and provides a range of products for domestic and commercial installations.
For the year ending June 30 2025, turnover was reported as £18m, down from £19.8m in the previous year. Sales to the UK were £15.8m (£17.9m in 2024), the rest of Europe £2.1m (£1.8m in 2024) and the rest of the world £0m (£0.1m in 2024). Included in the £2.1m to Europe were sales of £1.6m to ASD Lighting Europe Ltd set up to distribute and partner with customers in Europe.
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Gross profit is reported at £6.4m, down from £7m. with the manufacturer highlighting that despite rising material, utility and labour costs, the gross profit margin remains strong at 36%, up from 35% in 2024.
Administration costs at £8m increased by 4% from £7.6m last year. The main increases being staff related costs which went up £300k to £6.6m despite employee numbers reducing by three to 159.
It meant that ASD posted an operating loss (before interest and tax) of £1.6m compared to a profit of £0.6m in the previous year. A loss after interest receivable and tax was £849k compared to a £276k profit in 2024.
Rothbiz has previously reported on Rotherham United's 2023/24 losses which highlighted that the club can continue to trade as a going concern "but it must continue to rely upon the support of sponsors, in particular its fellow subsidiary company ASD Lighting PLC to enable it to do so."
The accounts confirm that ASD Lighting continues to provide £1m in sponsorship and advertising to the football club each year.
Documents also show that: "At 30 June 2024 included within debtors was £9,467,811 (2024: £5,204,737) due from Rotherham United Football Club (RUFC) Limited. The outstanding balance is repayable on demand."
The figure has risen from £929,150 in 2023.
Also included in other debtors is an amount of £12,514,906 due from R U Estates Limited, a company of which Tony Stewart and son Richard are directors. This is thought to have been established when the AESSEAL New York Stadium was constructed.
The debt is split between £600,962 due within one year and £11,913,944 due after more than one year. This loan is unsecured and bore interest at 2% above base rate per annum until January 2021 when it began to bear interest at 1.15% above base rate and is repayable over nine years in instalments.
Rotherham United's accounts for the period are due to be published within the next few months.
ASD Lighting website
RUFC website
Images: ASD
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