RE: Nah 34p27 Aug 2020 23:27
On the final result rns if you scroll down then you’ll come to this paragraph
Net asset value
As at 31 March 2020, the Group’s consolidated net assets stood at £4.98m (2019: £5.14m). There were 14,677,257 ordinary shares in issue at that date which equates to a net asset value per share of 34p.
As we have previously stated, the Company’s ordinary shares continue to trade at a substantial discount to the net asset value. We recognise that there is a value of goodwill on the balance sheet and we review this each year to ensure that the value is fairly stated. In each of the past two years, the board has taken the decision to reduce the carrying value of our security division by £200,000, and we have done the same thing in 2019-20 in line with good accounting practice. The write-down represents a reduction of approximately 4% in the consolidated net assets of the Group. The board remains satisfied that all other goodwill valuations can presently be justified.