Member Info for Pebble101

Once a bad debt is over 6 months old and less than 4 years 6 months and has been written off (not just a provision in the accounts) then you can claim relief from VAT. So yes, they should get £12.5m back into cash although it will be offset by any VAT payable on the return when they claim it.

The £8.5m VAT will not be offset against the £24m, it will be repaid so that debtor disappears and cash increases. The £24m trade receivables will be written off, but VAT will be included in that figure and also recoverable. So the amount written off and the product warranty virtually cancel each other out.

Amers, it they have taken on board what you said maybe your day wasn't a complete waste of time. Curious though, why the he/she reference?

Amers it's online - b***** cowards too scared to face us.

Sorry, 'neilrich' .

Meilrich, £5m does come out of cash but the provision was for £19.8m, they are paying £5m. The overall effect is to increase profit/decrease loss by £14.8m.

CS, the cash won't be increasing, the P&L will be. I suppose it is interesting that they had put in the provision for £19.8 and didn't actually need that much.

Exmex, its £14.8m going back to the P&L account, £5m being paid out.

What happens to the court time now? Presumably just wasted as I doubt anyone would be able to fill at such short notice. No wonder the legal system take so long.

Cash will reduce by £5m, £14.5m will come out of provisions (liabilites) and show as a positive in the P&L.

Well at least the uncertaintly has gone, not quite the result I was hoping for. I don't think they will get the £80m unpaid invoices, I think the £5m is a final settlement. Without trawling back I can't remember exactly how the VAT refund was made up to £8m, but there is either £1m or £833,333 of VAT (depends if it includes VAT or not) to account for with this settlement. I will be looking to exit now over a period of time (I have 43k shares), I don't trust the board and I think JW should have been removed some years ago but people still keep voting for him.

Sorry Amers you had a wasted day, hopefully you won't have to go again as they settle tomorrow.

Valju, the trial was scheduled for over 3 weeks I think.

Can those who go please let us know if you can just walk in without prior agreement. The only week I might be able to go is the week commencing 24th June, apart from then I'm not in the country.

Does this help neilrich1? https://www.gov.uk/government/publications/how-you-can-attend-or-access-court-and-tribunal-hearings/how-you-can-attend-or-access-courts-or-tribunals

I think Brown was very crafty with his pension fund raid. I used to do the accounting for the pension scheme for one of the major banks. Every month I filed a reclaim for dividend tax - that amounted to millions of pounds. I said at the time most people wouldn't realise how would affect them.

I'm also thinking of going but I'm away for 2 weeks of it.

I have some niggles about the report by Dr Owens not being filed. I wasn't wholly convinced by the explanations behind it and the submission of another report. I hope you are right Harchris with regard to common sense and technical contract law, I have no idea how much common sense comes into decisions but I would have thought contract law would prevail.

Would anyone have an opinion as to why Dr Owens report was not filed (apart from the reasons given) as Mrs J. seemed a bit peeved. Let's hope that Dr Owens report has been served by the 3rd May.

I have a couple of Poidster's posts from the past which I copied and saved in case they disappeared.

WBAFC - 10%pa is a target of £0.84, 30% is £1.38. Can't say I'm impressed with the low amounts.