SBS&L accounts 2016 (1 Viewer)

[oldfiver]

My point was you can be paying interest whilst increasing your own debt.
People were saying we were not paying it because if we were it wouldn't be debt.
However you can pay interest to ARVO by increasing the debt for CCFC.
However Rusty has since pointed out that we have only actually paid 75k in interest that year.

Note 6 of he SBSL Accounts refers to Witholding Tax due on interest payable. One reason for "accruing" and not adding to the Loan Account is the latter would be deemed to be a payment. I assume that would trigger the £837k tax liability.
At least £50k interest relates to the Revolving Loan Facility at the bottom of note 15

 

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[wingy]

Don't know if it's been covered or not.
But,have we had a reduction over the last two seasons in SCMP, while achieving increased revenues?