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Author Topic: £750k interest per year  (Read 1506 times)
lebowski

« on: Tuesday, October 9, 2007, 16:59:48 »

being paid on SSW's loans, according to several postings.

where has this figure come from? is it in the accounts?

given that we turn over something like £2.5million a year, that is a huge slice of income gone.

also, don't we have a shortfall of about £750k each year?
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Ardiles

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« Reply #1 on: Tuesday, October 9, 2007, 17:19:52 »

As ever due to the board's non-communication policy, everything is based on speculation.  I had heard that Wills is charging 12% interest on his loans, which would put him firmly in loan shark territory.  If he is making £750,000 per annum on an interest charge of 12%, this would imply a total loan amount of £6.25 million.

I think you would need a team of forensic accountants to answer all of your questions properly.
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RobertT

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« Reply #2 on: Tuesday, October 9, 2007, 17:35:36 »

£750k is over a 2 year period 2004/05 and 2005/06 - It went up by just over £50k I think from year to year so would presume the next set of accounts will show a similar rise to push it over £400k for a year.
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ronnie21

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« Reply #3 on: Tuesday, October 9, 2007, 18:28:19 »

Quote from: "Ardiles"

I think you would need a team of forensic accountants to answer all of your questions properly.
I know a good team that could do that, based locally in Newbury.  Believe they are called Andronikou and Diamandis!  Give 'em a ring, they'll help us out for sure!!!
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