As at 2010. Father Ted explaining to Dougal about BUFC's little problem.
What does BUFC own in terms of fixed assets? £297,923 good
What other current things does BUFC own?
Stocks (not a sauce or gravy) £10,828 good
debtors (people who owe BUFC money) £95,913 good
cash at bank (spondoolies in Dave's bank) £83,876 good
Total £190,617
What debts does BUFC have
falling due in one year? (I wonder
who is owed all this money?) -£1,580,520 very, very bad. ouch!
How much in debt is BUFC taking
into account what it has and what it owes -£1,091,980 very bad indeed
This is represented by what the shareholders have:
Shares issued £249,848
Capital redemption reserve £102
Profit and loss reserve -£1,341,930 Very, very bad
-£1,091,980