Rangers made a post-tax profit of £545,000 from New Edmiston House in its first full year in operation.
Accounts to the year end June 30, 2025 show net assets of £551,000 after documents were this week filed to Companies House. That comes after figures of £30,000 and £7,000 respectively from a year ago.
It is stated that the impressive rises are down to the building having a full year of operation, since opening in the previous period’.
The takeover of RIFC plc by Andrew Cavenagh and 49ers Enterprises is referenced in the accounts.
Note 11 says: “Throughout the year under review, the company's ultimate parent undertaking was Rangers International Football Club plc, a company incorporated in Scotland. On 29 May 2025, Rangers FC LLC, a company registered in Delaware USA, acquired 51% of the share capital of Rangers International Football Club pic and became the ultimate parent undertaking. The Directors are of the opinion the ultimate controlling party of Rangers FC LLC is Andrew Cavenagh.
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"Rangers International Football Club pic prepares group financial statements and copies can be obtained from Ibrox Stadium, 150 Edmiston Drive, Glasgow, G51 2XD. Rangers International Football Club plc is the smallest and largest group into which the results of the company are consolidated.”
NEH Limited is a wholly owned subsidiary of RIFC plc.
Former chairman Douglas Park's company, Park’s of Hamilton (Holdings) Limited, has a commercial deal with NEH. Revenue of £250,000 was recognised over the course of the financial year, with £1.8million held in deferred income.
John Bennett, another ex-club chairman, is also named. He holds standard security over New Edmiston House under the terms of his loan agreement with Rangers. It is believed Bennett is still owed an eight-figure sum by the club.
NEH revenue for the year stands at just over over £2million.
