Fund Accounts - Help explain this.
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Fund Accounts - Help explain this.
It seems that the companies capital in the bank peaked in 2009. However the Net worth, continued to fall. How is it that a company takes more money yet it's value decreases? The assets have also fallen well off as well, does this mean assets were sold which would explain a rise in the bank balance? . What kind of assets could they own worth £520,000? That seems like an awful lot of cuddly toys, wrist bands and tee shirts.
One thing is clear that the statistics show a clear path, money available is falling, Net worth is falling, company assets are falling, liabilities are rising. Seems at this rate there will be nothing by 2013 without a major boost.
http://companycheck.co.uk/company/06248215
Sorry I edited because I thought I made a mistake.
2008
1,115,000 in assets
572,000 cash
105,000 liabilities
This is what I cannot work out. If I take the liabilities off the cash you get £467,000. But they are returning assets of 1,115,000. If I take of the available cash minus the liabilities then they have something worth £648,000.
2009
740,000 in assets
720,000 in cash
50,000 in liabilities
using the same system I get cash of £670,000. If I minus that off the assets it is only £20,000.
So that is a big change in a year. So what could be declared as an asset. I gather stock of their tee shirts, toys etc. Would that mean that they sold £628,000 in stock in a year but then only replaced it with £20,000?
Sorry I am probably wrong in all of this.
Last edited by Pershing36 on Wed Dec 07, 2011 4:52 pm; edited 2 times in total
Pershing36- Posts: 236
Join date: 2011-12-03
Re: Fund Accounts - Help explain this.
Pershing36 wrote:What kind of assets could they own worth £420,000? That seems like an awful lot of cuddly toys, wrist bands and tee shirts.
Kate was working from home studying the files was she not? I'm wondering if perhaps the fund bought their house and it is perhaps being used techincally as an office?
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Re: Fund Accounts - Help explain this.
jd- Posts: 1967
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Re: Fund Accounts - Help explain this.
Pershing36- Posts: 236
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Ollie- Posts: 195
Join date: 2011-05-22
Re: Fund Accounts - Help explain this.
Ollie wrote:I did company tax returns a few years ago (seem to of forgotten a lot of it now), the companies filled in a detailed tax pack showing what money had been spent on, what assets they had etc. Assets can be anything from a computer, vehicles, machinery to buildings they own.
This is where I got stuck. From 2008 accounts to 2009 accounts they changed from having 648,000 to 20,000 in assets whilst maintaining a fairly stable bank balance. If a good sum of the assets were the finding Madeleine merchandise it has been reduced massively from 2008 to practically nothing in 2010. The bank balance would suggest they sold the assets so why did not replace them with anywhere near the quantities again.
It is like a supermarket saying we sold 2 million Turkeys last xmas making 30 million pounds however this year we are only going to buy 600!!
There must be something I am missing here it all makes no sense.
Pershing36- Posts: 236
Join date: 2011-12-03
Re: Fund Accounts - Help explain this.
Pershing36 wrote:2008
1,115,000 in assets
572,000 cash
105,000 liabilities
This is what I cannot work out. If I take the liabilities off the cash you get £467,000. But they are returning assets of 1,115,000. If I take of the available cash minus the liabilities then they have something worth £648,000.
March 2008 was around the time that they sued the Express for £500,000 this would have paid later in the year and included as a debtor (asset) in the accounts.
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Follow The Madeleine Foundation on Facebook http://tinyurl.com/2vtmdx8
Re: Fund Accounts - Help explain this.
The legal team should get their finger out, or their client will have no money to pay them in a year or two.
Pershing36- Posts: 236
Join date: 2011-12-03
Re: Fund Accounts - Help explain this.
Gerald McCann is also on the board of BSCMR
http://www.bscmr.org/index.php?id=7
Isn`t it strange how to Leics police website links to the find Madeleine Website but this one where Gerry is on the board doesn`t?
For anyone who`s interested - Gerry at work, http://www.scmr.org/Education/CMR-online-video-on-demand-lectures/2528/McCann.html?searched=mccann&advsearch=oneword&highlight=ajaxSearch_highlight+ajaxSearch_highlight1
Last edited by sharonl on Wed Dec 07, 2011 11:17 pm; edited 1 time in total
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Re: Fund Accounts - Help explain this.
Pershing36- Posts: 236
Join date: 2011-12-03
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