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21% Growth Amway UK
#41
(2013-01-06, 05:39 PM)sq1 Wrote: To admit to me you are knee deep in paperwork tells me you have no idea how to keep accounts let alone what they mean. Anyone who takes a professional approach to their business will be on top of their paperwork ready for an inspection from HMRC in the UK which they can do at any time.


So you're an expert on Swedish accounting practices covering international companies?

Great, we could do with some assistance, when can you come over?

Quote:To suggest that I talk about figures that are obtained from Companies House on an open forum is just plain crass.

Anyone can go to http://www.companieshouse.gov.uk and get them for £1.

Amazing how you think it's crass to talk about the actual numbers, but it's perfectly fine to state they say something they do not!

You're simply making excuses.

Here's the takeaway for anyone interested -

   
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#42
(2013-01-06, 07:38 PM)ibofightback Wrote:
(2013-01-06, 05:39 PM)sq1 Wrote: To admit to me you are knee deep in paperwork tells me you have no idea how to keep accounts let alone what they mean. Anyone who takes a professional approach to their business will be on top of their paperwork ready for an inspection from HMRC in the UK which they can do at any time.


So you're an expert on Swedish accounting practices covering international companies?

Great, we could do with some assistance, when can you come over?

Quote:To suggest that I talk about figures that are obtained from Companies House on an open forum is just plain crass.

Anyone can go to http://www.companieshouse.gov.uk and get them for £1.

Amazing how you think it's crass to talk about the actual numbers, but it's perfectly fine to state they say something they do not!

You're simply making excuses.

Here's the takeaway for anyone interested -


Ok I'll spell it out for you.

You need to look at the balance sheet not just profit and loss where you will see that Debtors have risen by £3,433,000.00 over 2010 and Creditors : amounts falling due within one year amount to £39,791,000.00. see note 16 for an explanation.

This is why I did not really want to go down the route of actual figures but you have forced my hand.Rolleyes

To put it simply Amway UK is nearly £40 million in debt which rose by £3.5 million in 2011.Sad

To reach your destination take one step at a time - remember they may not all be in the same direction!
 Reply
#43
(2013-01-06, 09:30 PM)sq1 Wrote: Ok I'll spell it out for you.

You need to look at the balance sheet not just profit and loss where you will see that Debtors have risen by £3,433,000.00 over 2010 and Creditors : amounts falling due within one year amount to £39,791,000.00. see note 16 for an explanation.

This is why I did not really want to go down the route of actual figures but you have forced my hand.Rolleyes

To put it simply Amway UK is nearly £40 million in debt which rose by £3.5 million in 2011.Sad


I did see that, so let me spell it out for you ....

S.O...W.H.A.T.?

The debt is to Amway sister companies. It's not like the creditors are going to come knocking. Amway can support a UK debt as long as they need to. What's more important financially speaking is if they're going to stop going further in to debt and start being profitable, and they're very close to doing that, with a loss of only £367K in 2011.
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#44
(2013-01-06, 10:41 PM)ibofightback Wrote:
(2013-01-06, 09:30 PM)sq1 Wrote: Ok I'll spell it out for you.

You need to look at the balance sheet not just profit and loss where you will see that Debtors have risen by £3,433,000.00 over 2010 and Creditors : amounts falling due within one year amount to £39,791,000.00. see note 16 for an explanation.

This is why I did not really want to go down the route of actual figures but you have forced my hand.Rolleyes

To put it simply Amway UK is nearly £40 million in debt which rose by £3.5 million in 2011.Sad


I did see that, so let me spell it out for you ....

S.O...W.H.A.T.?

The debt is to Amway sister companies. It's not like the creditors are going to come knocking. Amway can support a UK debt as long as they need to. What's more important financially speaking is if they're going to stop going further in to debt and start being profitable, and they're very close to doing that. 2011, with a loss of only £367K in 2011.



Oh Dear! Oh Dear! :- its not a pretty picture as I said.Sad

The loss was only £367K in 2011 because they borrowed an additional £3.5 million.Rolleyes

Sales were only up £612K on the previous year.Undecided

Since 2008 borrowing has increased by approx £15 million.Dodgy

Why do you not understand that debt increasing is not good, wherever the loans come from the business is technically insolvent.Sad

It is highly commendable that the Company is honouring the founding fathers commitment not to pull out of the UK market.Angel

Now back to my request to you :- Lets have a serious discussion on how the business can be turned around in the UK/RoI.Exclamation
To reach your destination take one step at a time - remember they may not all be in the same direction!
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#45
(2013-01-06, 11:01 PM)sq1 Wrote: Oh Dear! Oh Dear! :- its not a pretty picture as I said.Sad

The loss was only £367K in 2011 because they borrowed an additional £3.5 million.Rolleyes

wrong

Quote:Sales were only up £612K on the previous year.Undecided

Only? That's nearly 6.7% growth. Expenses were also down significantly on the previous year.

Quote:Since 2008 borrowing has increased by approx £15 million

You think it's a bad thing that Amway is investing in UKROI?

Quote:Why do you not understand that debt increasing is not good, wherever the loans come from the business is technically insolvent.Sad

Wrong

Sounds like you've fallen for the anti-debt screeds of recent years.

Quote:Now back to my request to you :- Lets have a serious discussion on how the business can be turned around in the UK/RoI.Exclamation

Sorry, I'm not interested in that discussion. The company is clearly growing in the UK, so a discussion on "turning it around" would mean talking about how to stop growth.

Not very productive!

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#46
(2013-01-06, 07:38 PM)ibofightback Wrote: Anyone can go to http://www.companieshouse.gov.uk and get them for £1.

Amazing how you think it's crass to talk about the actual numbers, but it's perfectly fine to state they say something they do not!

You're simply making excuses.

Here's the takeaway for anyone interested -


IBOFB I think you might need to consider this from Companies House to apply to the attachment of the Profit and Loss Account.

The Crown copyright protected material (other than the Royal Arms and departmental or agency logos) may be reproduced free of charge in any format or medium provided it is reproduced accurately and not used in a misleading context. Where any of the Crown copyright items on this site are being republished or copied to others, the source of the material must be identified and the copyright status acknowledged.

As one ABO to another brother ABO despite our differences of opinion I would not like to see you in a position where you could be breaking the Law. I suggest you edit the post accordingly. Sq1Heart
To reach your destination take one step at a time - remember they may not all be in the same direction!
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