Though it's not explicit, the fact that the P&L balance from the sun company is almost zero makes me think that revenues might be approx £2 or 3m, broadly balanced out by costs to leave zero. That's based on me guessing the company is still small and has a cost base of several million. But we're already virtually one year on from the last set of accounts and it's not unreasonable to think another million of additional revenue might have been added. And then the NHS stuff in the pipeline.
Yeah I cant see this either, because of the odd structure with VS Holdings Ltd 'owning' 100% of VS Ltd and them only having to submit under the small companies regime its a bit obscured. Closest i can see to an actual number is the P&L account or shareholders deficit which shows ~£100k loss for the period. Some of this seems to be loans to directors so I'm not sure we can ever really know (tbf they don't have to tell us!).
Again very frustrating that pretty much all the potentially exciting stuff happened after the end of this reporting period and we will almost certainly have to wait a long for the next round of accounts to be released.
Not sure you would get a reply but you could try e-mailing someone in the know to see if they would clarify the position for you?
The accounts don't include a P&L and revenue is not stated. You may be trying to infer it from the movement in other items. So can you please be explicit about where this revenue figure of £1m comes from?
Haha i think between us we just about got there, i had half forgotten about the extra shares since they don't get reported on that form (although to be really pedantic the share issue was Apr 2015 rather than 2016).
It is frustrating because a transfer of shares is really the only way we have to officially value VS just now but if the value is good there wont be any transfers! I realise there are other options available but we will just have to see where else we can lever in our SW first imo. I am waiting with interest to see what actual revenues we are going to make from these contracts once they get up and running.
Meanwhile, if we continue for a bit without any real news the market will get bored and sp will slide again, if we do continue the newsflow who knows where we could end up...
Drivenout Im sorry if I appear to have copied your info but I was busy compiling my reply to kadavul.
There are two things that annoy me every time I read them and one is the referal to our % holding and the other is posters saying LEG should invest more in VS.
We appear to agree that the holding is 7.0% and not 7.1% (small point but wrong non the less)
If posters cared to look at the names of the shareholders they should ask themselves 'who on that list would sell' And once they have decided that, calculate the value of each of those shares. If Beaufort's value of VS at £24M is anywhere near correct then each VS shares would be worth £37 each.
kadaval - Your numbers are spot on but your percentages are incorrect due to amount of VS shares issued.
In and amongst the garbled info on companies’ house, VS managed to issue a further 406,015 on 27/4/16 but didn’t really make that clear until October 16.
By issuing these extra shares it devalued VS and therefore LEG got extra shares to compensate for this loss so, there was no extra investment by LEG and your percentages should read 6.2% and 7.0%
I make this point because Beaufort continually quote that we hold 7.1% when according to me it is only 7.0%. Maybe a small point but, as brokers, they should be able to get their numbers right.
This a list of my understanding on the issue of VS shares 22.8% 1,453,900 Graham Cundick - Director 19.7% 1,258,422 Edward Bradley - Director 19.7% 1,257,944 Timothy Ingram - Director 7.0% 447,428 LEG 6.4% 407,100 Victoria Ingram 5.5% 349,817 Evy Hambro 3.4% 216,200 Clare Bradley 2.7% 169,433 Zaf Karim 2.5% 162,800 Susan Bradley 2.4% 151,558 Thomas Reuner 2.1% 134,226 Michael Harrison - Director 2.1% 131,724 Colin Medway - Secretary 1.3% 83,334 Nick Jenkins 0.9% 55,300 Robert Bradley 0.8% 49,718 Harry Lopez 0.7% 43,506 Edward Wakefield 0.3% 16,537 Jason Clegg
This is my own research and therefore not necessarily 100% accurate
Maybe I'm being stupid (quite possibly) but where exactly does it say that?
The return made up to April 2016 (once they'd resubmitted it with the correct information after many e-mails) shows the only change in share holdings for 2015-16 was Edward Bradley & Tim Ingham collectively transferring 83334 shares to Nick Jenkins which gave us the most recent valuation on VS and is all we officially have to go with until there is another transfer (or something better/bigger).
LEG had no changes at 447428 which by my calculations on a total share count of 6388947 makes it almost exactly 7%.
If this is true (and again happy to be proved wrong) I think the bashing (or at least questioning) of spendings and output from Karim is wholey justified for now...
Having looked at in detail it shows, during last year 2015/6 LEG seems have increased in VS holdings from 372,241 (7.11%) to 447,428 (8.55%) whereas Karim Shares stayed same at the same level 169,433 (3.24%).
Something tells me some of those cost of £160k may well have been used towards that investment which will only be revealed once the LEG account comes out.
So it is bit premature to bash Karim of his spendings.
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