- Joined
- Apr 7, 2023
Abridged Statement of Financial Position for Simon Miller's LTD provided by the UK government 31st of March 2022.I'm going to echo Dixieland: how do you know this?
I have more "Cash at bank" and I'm just a blue collar greasemonkey whose been in the trade for a few years.
Debt ratio is up, liabilities is up over 50%, cash in bank doesn't mean profits as this could also be Simon selling assets to try to keep his business afloat, which I suspect as I don't trust a 78% increase in total company assets in one year.
A 40% debt ratio is considered unstable / risky. I don't foresee Simon's business lasting more than 2-3 years if he's used some hebrew magic to try to mitigate his losses from the previous year. I wouldn't be surprised if his debt ratio hit 45% in 2024. 45-50% is pretty much out of control.
They've been struggling since 2017/2018 with 2019 being the lowest valley and he's been trying to claw his way back up to the peak boom the company had in 2013, the company has been in fiscal decline since then and only in the last 2 years have they been seeing any kind of turn around but it's almost certainly them pouring every last ditch effort into trying to keep the business floating and they'll burn out and go bust, I predict by 2025.
As for her mom dying in hospice, this is just a rumor I've heard.
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