Finally...the accounts (1 Viewer)

[oldskyblue58]

I'm no expert by any means on accounting, but from what I read in the accounts, my take on the directors salary is there were three directors who were paid 303k. Am I misinterpretting something? I'm an Engineer not a bean counter, so I could be way out in left field on this.

the money paid to directors or their own companies for fees was all paid to the Arley Group which is owned by Ray Ranson. His company charged £303125 for his services year to 31/05/10. See note 29 on the Sky Blue Sports & Leisure accounts. There were 3 directors though the other two are not paid

 

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[ajsccfc]

How the hell did kevin find out my creche idea?

 

[singers_pore]

My concern is what happens next year when the loan term comes to an end, when say some of the investment funds want their money back ? What the Board and SISU are doing right now in finding new investors to spread the risk and to repay loans is crucial to our survival. Everyone assumes new investors means new funds for the team ..... but does it ? Any sale of shares brings money to the investment funds not necessarily to the SBS&L Group (certainly not to CCFC).

Any new investor with an ounce of common sense would pay very little to SISU for the pleasure of taking control of this loss-making business. I share your pessimism OSB but the fact is that SISU have not improved the business in the time they have been running the company so they cannot expect to receive much at all. If I were a prospective investor, I would offer them a couple of million as a take it or leave it offer. If SISU refuse such an offer then they will simply lose even more money, which makes no sense at all.