Sulake UK's Abbreviated Balance Sheet

[Stuey]

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). 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. =]

[myke]

Nice report I guess. :]

[8Freak8]

V. interesting. You ok if I add this to a Habbox page?

[Stuey]

Sure =]

[Pyroka]

I should shoot you for buying that documents, what a waste of 1 pound! Buuut I'm merciful, very nice little document & good find! =]

[brandon]

Pyroka, I don't get the pound business lol!

Nice find.

[Pyroka]

I quote the website he got the document off: Prices of documents or reports: £1.00 each.

But still, you went the extra mile and thats what counts!

[Stuey]

You can purchase financial information on any UK company via the Companies House website www.companieshouse.gov.uk
and other documents like details on company directors [I bought that one too]. Each document costs a quid.

=]

The company directors' one is alright cos' it gives you the personal address of each person. For example, the Chief Executive Timo Juhani Soininen was born on the 15th June 1965, and his address is Vaunukuja 10, Tuusula, 04300, Finland.

The other two directors are: Juha Erkki Hynynen and Marko Olavi Orenius.

Heh.

[tularis]

You can purchase financial information on any UK company via the Companies House website www.companieshouse.gov.uk
and other documents like details on company directors [I bought that one too]. Each document costs a quid.

=]

The company directors' one is alright cos' it gives you the personal address of each person. For example, the Chief Executive Timo Juhani Soininen was born on the 15th June 1965, and his address is Vaunukuja 10, Tuusula, 04300, Finland.

The other two directors are: Juha Erkki Hynynen and Marko Olavi Orenius.

Heh.

So you can basically buy a persons personal information?! Damn good find and thanks for going that extra mile for everyone elses viewing pleasure

[ReviewDude]

Great thread, +Rep. Most of their debt costs - well, any costs - go to recovering the price of servers, their location and data etc.