KENT’S decision to sell their most famous and valuable piece of cricketing memorabilia at auction last summer has helped the county club balance their books for the year.

Having suffered record £310,000 losses in 2005, the sale of Albert Chevallier Tayler’s oil painting of Kent’s 1906 championship-winning side has allowed the county to announce post-tax profits of £292,840 for the year ending October 31, 2006.

The painting was sold in London to West Country-based millionaire Andrew Brownsword for £680,000 - a world record for cricket picture - after which Sotheby’s deducted a buyers’ premium of £80,000 leaving Kent to bank £492,638 after they had paid VAT and auctioneers’ fees on the £600,000 hammer price.

Though the club then faced a capital gains tax bill of £34,052, there remained more than enough in the coffers to mask the reality of an overall operating loss of £165,746 and sufficient for Kent to publish profits approaching £300,000.

Kent’s treasurer, Alister Dunning, said: "But for the painting we would have suffered an operating loss roughly in line with my expectations.

"We have been pulling our belts in for a number of years now and the administration lines generally show good control."

* SEE THE KENTISH GAZETTE (THURSDAY, FEBRUARY 8) FOR THE FULL STORY.