Quote:
Originally Posted by Whalley Red
Jeff, do you have a breakdown of current assets?
In the previous year's balance sheet, two-thirds of current assets were classed as 'other debtors'. If that is still the case (e.g. if Fraser Eagle are still classed as a debtor, though they clearly won't be paying any more money), then the club is all but technically insolvent.
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Current Assets:
Stocks £20296
Debtors £71776
Cash at Bank £41022
The amount for Debtors has reduced from £123729 in 2007 to £71776 in 2008, I presume that this amount does include Fraser Eagle money but the balance sheet is only up to 31st May 2008 and Fraser Eagle were still in business then. Things may have changed since then.