Stuey
20-03-2007, 10:22 PM
Caution: Noobs may not understand this. I've tried to evaluate the balance sheet as best I could.
This is the latest balance sheet for Sulake UK (aka. the UK hotel) up to 31st December 2005. This is the latest accounts published by Sulake by the Companies House (www.companieshouse.gov.uk (http://www.companieshouse.gov.uk)). The next one is due in 2008. These accounts were released in April 2006. A balance sheet is NOT a detailed indicator of annual performance and but a snapshot of a companies financial state at a given time.
Key information:
They made a loss of £188,828 in 2004. In 2005 however they posted a profit of £633,793.
What is very interesting is, Sulake's assets are around £634,778. However. Their tangible assets are only £12,914. This indicates that either they do not rely heavily on operational costs because their main product is a virtual website, or they have valuable assets which they lease and do not own.
Tangible means "having substance or material existance", and an asset is of useful or valuable quality.
This basically means, Sulake does not own it's own offices (which is known as they must rent their Reading [>http://www.habboxforum.com/showthread.php?t=330692] and London headquarters). The products the company own within it's offices are £12,914 including deductions of depreciation (loss of value, so if you buy a car for £1,000 and a year later it is worth £800, depreciation is £200).
Sulake owe £875,952 to debtors, but are owed £1,047,454 by creditors. Sulake also have £793,280 "cash in hand and in the bank".
A screenshot of the balance sheet can be found at:
http://www.dessler.co.uk/images/sulakebalancesheet.gif
Please do not moan at me for posting this thread. Someone will find it interesting. =]
This is the latest balance sheet for Sulake UK (aka. the UK hotel) up to 31st December 2005. This is the latest accounts published by Sulake by the Companies House (www.companieshouse.gov.uk (http://www.companieshouse.gov.uk)). The next one is due in 2008. These accounts were released in April 2006. A balance sheet is NOT a detailed indicator of annual performance and but a snapshot of a companies financial state at a given time.
Key information:
They made a loss of £188,828 in 2004. In 2005 however they posted a profit of £633,793.
What is very interesting is, Sulake's assets are around £634,778. However. Their tangible assets are only £12,914. This indicates that either they do not rely heavily on operational costs because their main product is a virtual website, or they have valuable assets which they lease and do not own.
Tangible means "having substance or material existance", and an asset is of useful or valuable quality.
This basically means, Sulake does not own it's own offices (which is known as they must rent their Reading [>http://www.habboxforum.com/showthread.php?t=330692] and London headquarters). The products the company own within it's offices are £12,914 including deductions of depreciation (loss of value, so if you buy a car for £1,000 and a year later it is worth £800, depreciation is £200).
Sulake owe £875,952 to debtors, but are owed £1,047,454 by creditors. Sulake also have £793,280 "cash in hand and in the bank".
A screenshot of the balance sheet can be found at:
http://www.dessler.co.uk/images/sulakebalancesheet.gif
Please do not moan at me for posting this thread. Someone will find it interesting. =]