|
|
Post by dharm999 on May 23, 2018 9:23:08 GMT
New proposal, which on the face of it looks interesting, however the financials make no sense. They say that the Net assets are negative for 2017, after an adjustment for intercompany, but when i look at Companies House, there are no other group companies, which confuses matters, anyone else found anything that explains this?
|
|
DeafEater
Member of DD Central
Extremely Moderate
Posts: 218 
Likes: 292
|
Post by DeafEater on May 23, 2018 9:50:33 GMT
No. I was confused as well and have so far stayed out of it despite it looking like a reasonable proposition on the surface. I was also confused as to why they needed the extra money in the first place as IBT looked OK.
|
|
|
|
Post by dharm999 on May 23, 2018 10:47:51 GMT
I've asked them a question, will post whatever info i get
|
|
|
|
Post by hugoarchover on May 23, 2018 14:14:08 GMT
This is debt owed by related parties, i.e companies in which Managing Director has a controlling interest. We felt it was prudent to discount these debts from the net assets. Under the terms of the loan agreement these debts are being treated as intercompany and cannot increase during the loan term
|
|
|
|
Post by dharm999 on May 23, 2018 15:34:13 GMT
Intercompany loans are in fact loans from related parties. The main owner, S*** N*****, is a director at 30 companies at the moment, per Companies House, so a potential complex structure
|
|
|
|
Post by dharm999 on May 25, 2018 16:09:41 GMT
2018 and 2019 figures have been updated as the original figures on the website were wrong! They now show a much healthier financial position, I am still not sure, because of the number of related parties and potential scope for things to be moved around, will have a think over the weekend
|
|
