Quote ="Kosh"It's also easy to register a loss when you leave £1.2m and ~£800k 'cash in hand' in the bank at the end of the financial year. Coincidentally around twice the posted loss in each case.
If I've read correctly the repairs have already been made and the claim is retrospective to cover costs already incurred. This is quite an odd situation as warranty certs are rarely needed on a building like the KC where it's easy to prove who provided what and when.'"
Cash & Profit are two different things and it is not improbable to have a loss but money in the bank , accruals could have been taken for work done but not paid yet and so the cash is still in the bank . It is often why businesses do not pay near their year end to maximise their cash balance at the year end .
