Reply To: SUFC Acocunts Overdue

Iron Bru Forums Blast Furnace SUFC Acocunts Overdue Reply To: SUFC Acocunts Overdue

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Photo of Kieran Maguires post.

Excuse my ignorance as I am no accountant.

If the club has net liabilities of 2 1/2 million and we have loss reserves of 11 1/2 million, then does that equate to £14M ?

This seems to be offset by £9M in called up share capital?

14-9 = £5M ?

Like I said – I’m no accountant!

Called Up Share Capital:
Called-up share capital consists of shares that are not fully paid for upfront. The full payment for these shares will be done in the future at a later date or through installment payments.

So, who currently holds the £9M of called up shares?

Are we £23M in the red – if we were to owe no one anything and all the shares were owned by Hilton and not club owned?

If I won the lottery, would I need £23M to own the entirety of the operation and to have no debts or loans?

Not my area – but I’d like to know more.