maybe old news but intersting reading (2 Viewers)

darkknight

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egistration Date: 16/05/1995 Registration Number: 03056875 Type: Private Limited with share capital Accounts filed on: 28/05/2011 For period to: 31/05/2010 Category: Full Registered Address RICOH ARENA, PHOENIX WAY FOLESHILL COVENTRY CV6 6GE Telephone 08704211987Cash at Bank : £50,367

Cash at bank and 'in hand' is the bank balance for COVENTRY CITY FOOTBALL CLUB LIMITED at the end date of the period the accounts were for.
Total Current Liabilities : £49,970,693

The sum of Trade Creditors, Bank Overdraft and Miscellaneous Current Liabilities in 2010
Net Worth : £-50,992,704

A company’s Net Worth is calculated as Shareholders Funds minus Intangible Assets. £-50,992,704 is from the accounts filed in 2010
Total Current Assets : £929,192

The sum of Stocks, Trade Debtors, Cash and Miscellaneous Current Assets in 2010
 

ccfcway

Well-Known Member
so does this mean the club is worth just short of 1 million ?

if so,no wonder the £1 offer was turned down !
 

samccov1987

Well-Known Member
Dark Knight any news on the takeover. Surely with accounts like these SiSU have to go in Jan? We are all but down now anyway but surely they can see that an offer in Jan for a Championship club would be higher than an offer for a league 1 club in June.

Or does the Hoff wait till June when we're in administration in t hope of getting us cheap?
 

Danceswithhorses

Well-Known Member
No, the calculation is :
assets LESS liabilities

ie very rough value/worth is MINUS £50,000,000

Of course alot of that is owed to SISU funds (or whichever company we have been transferred to now !!)

Basically, offering £1 for a company that 'on paper' is 'roughly' worth -£50m, seems like a fair deal to me.

so does this mean the club is worth just short of 1 million ?

if so,no wonder the £1 offer was turned down !
 

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