STFC Accounts

By Surreysage (Norm)6/10/2021 22:40Wed Oct 6 22:40:42 2021

Views: 1388

In the previous thread mention was made of The Thames Club accounts for 2020.It made me curious to look at our clubs accounts.

I wondered if anyone has taken a look at STFC accounts for 2020 which are available to see on The Companies House site.I am no expert (perhaps Arthur you can bring your expertise to provide an answer)

What surprised me was to see that the clubs creditors have jumped hugely from the prior year by way of £158,618 of Directors loans. There is no tangible increase in assets or bank balance reflecting this injection.

As I understand it STFC has therfore been loaded with this debt which means any potential buyer would need to have a very deep pocket to take on and satisfy this liability.There is no note or explanation to the destination of these monies or how they were utilised for the benefit of the club.

I may be barking totally up the wrong tree for which I apologise-perhaps someone else can take a look and set me right.
Best wishes

Norm

Edited by Norm at 22:43:13 on 6th October 2021
Edited by Norm at 22:44:04 on 6th October 2021