Quote: fez1 "I'm not an accountant and haven't looked at the figures but figures can be used in many ways.
Key points for me are -
1. Have we reduced / removed our reliance on SJM Promotions.
2. How much short term debt do we have?
2. How much medium / long term debt do we have and are we reducing it? (Eg filling in the corners cost 'x', if that's repaid over 10 years at (say) £500k per year, so £500k is included in the accounts, but we've still £4.5m debt - not suggesting these are actual figures).'"
Our long term loans at the end of Nov 2013 were £1.92m, down from £2,088m in the previous year. Most of this (£1.34m) comprises bank loans. The loans are spread over a range of maturities, so for e.g., £776K had a maturity in excess of 5 years. The directors loan account (SJM I presume) was £185,300 although I think he is also helping us with another loan from one of his companies.