Shrimpsvoices

As expected I suppose, although there is £100 left in the bank which could have bought some seat warmers

https://beta.companieshouse.gov.uk/comp ... ng-history

Interesting interpretation of the notes required under FRS 102 1a and company law. Looks more like abbreviated accounts... Not that I imagine anyone will bother checking

(Sorry, geek alert )

Seem quite amateur. There's £500k desribed as "listed investments" which we can only assume are the shares bought from PMG, but the club isn't listed, so that's wrong too. But then again, Burnard isn't a qualified accountant, so it's not surprising that the accounts are a little shoddy.

KenH wrote:Seem quite amateur. There's £500k desribed as "listed investments" which we can only assume are the shares bought from PMG, but the club isn't listed, so that's wrong too. But then again, Burnard isn't a qualified accountant, so it's not surprising that the accounts are a little shoddy.

I was going to ask what the £500k listed investment was !

KenH wrote:Seem quite amateur. There's £500k desribed as "listed investments" which we can only assume are the shares bought from PMG, but the club isn't listed, so that's wrong too. But then again, Burnard isn't a qualified accountant, so it's not surprising that the accounts are a little shoddy.

I think he's a brilliant accountant, all that money and the balance is a cool neat £100.00, amazing.

Bare Grills wrote:I think he's a brilliant accountant, all that money and the balance is a cool neat £100.00, amazing.

That's normal for a holding company. The £100 is simply the share capital. The money borrowed from Abdul is probably what's the liability (i.e. money owed back to him). The money lent to MFC is money due back from MFC. So basically, money just passes through the holding company. It doesn't actually "trade" itself so monies received/paid aren't it's own - it's just a vehicle through which money is channelled.

KenH wrote:

Bare Grills wrote:I think he's a brilliant accountant, all that money and the balance is a cool neat £100.00, amazing.

That's normal for a holding company. The £100 is simply the share capital. The money borrowed from Abdul is probably what's the liability (i.e. money owed back to him). The money lent to MFC is money due back from MFC. So basically, money just passes through the holding company. It doesn't actually "trade" itself so monies received/paid aren't it's own - it's just a vehicle through which money is channelled.

Who pays all the bank transfer fees then etc, I'm sure Mr Burnard must be being paid some expenses at least?

Lloydie wrote:Who pays all the bank transfer fees then etc, I'm sure Mr Burnard must be being paid some expenses at least?

Usually it would be the trading company that pays the admin costs, i.e. MFC.