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Need help interpreting the books of company...

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  • 16-02-2023 10:57pm
    #1
    MouseMan01
    Registered Users Posts: 188 ✭✭


    I'm looking at the books of a company that owns a bar in Cork city.

    I need help interpreting the term "owing due from group assoc." A figure which stands at nearly 1.5 million.

    Also, Net current liabilities are over 500k.

    The Capital Employed Ratio went from -10 in '20 to 2.55 in '21

    The current ratio is .77

    How would you best describe the financial state of this bar?

    Screenshot_20230216-214410_Chrome.jpg


    Tagged:


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    #2
    Marcusm
    Registered Users Posts: 10,195 ✭✭✭✭Marcusm


    The entire value of that company is predicated on the ability of the associated company (either part of a group or with a common owner) to repay the money outstanding. It looks as if it has lent funds to the associate in preference to discharging its liabilities to Revenue. These might be subject to the tax warehousing scheme and the money is lent temporarily to the associate or it might have been lent to someone who has pissed it up against a wall. If you get the actual financial statements you might find the name of the associate and do a search on it.



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