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Aug 24th, 2023
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Joined: Oct 2012
Posts: 6,538
Talk Morgan Sage
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Talk Morgan Sage
Joined: Oct 2012
Posts: 6,538 |
I have just read it and it sounds like Charles is back, am I correct in reading this? If so, so much the better however a profit of £700,000.00 on a turnover of £ 30 million, now I'm no business man but that doesn't seem great.
Even their aspirations to go for £35 million on turnover with a profit of £1.3million isn't terrific.
As for the electric cars, best I don't say anything about that !! Agree v low% return. But need to see the full accounts really P&L and Balance sheet to work out why/what is being "charged" - management fees?? As I guess the real bottom line is higher than 2.5% which is not brilliant. But a Profit - which is just great!
Neil
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Joined: Mar 2017
Posts: 1,611 Likes: 1
Talk Morgan Enthusiast
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Talk Morgan Enthusiast
Joined: Mar 2017
Posts: 1,611 Likes: 1 |
A firm like Morgan would be very canny in tucking away gross profits into r&d, property purchases, investments, machinery purchases, stock holding, tax losses and so on . Net profit tells no story at all, its just what they pay tax on.
SFG
2012 4/4 Sport
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Joined: Jun 2016
Posts: 70
Just Getting Started
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Just Getting Started
Joined: Jun 2016
Posts: 70 |
A firm like Morgan would be very canny in tucking away gross profits into r&d, property purchases, investments, machinery purchases, stock holding, tax losses and so on . Net profit tells no story at all, its just what they pay tax on. Good point!
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Joined: Oct 2012
Posts: 6,538
Talk Morgan Sage
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Talk Morgan Sage
Joined: Oct 2012
Posts: 6,538 |
Neil
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Joined: Jan 2011
Posts: 5,366 Likes: 15
Charter Member
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Charter Member
Joined: Jan 2011
Posts: 5,366 Likes: 15 |
A firm like Morgan would be very canny in tucking away gross profits into r&d, property purchases, investments, machinery purchases, stock holding, tax losses and so on . Net profit tells no story at all, its just what they pay tax on. I didn't realise that point, i.e. that they only pay tax on the declared profit, in which case if all the other facts are germane, they are quite clever.
Here for a good time not a long time!!
Reg
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Joined: Feb 2012
Posts: 5,653 Likes: 4
Charter Member
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Charter Member
Joined: Feb 2012
Posts: 5,653 Likes: 4 |
A firm like Morgan would be very canny in tucking away gross profits into r&d, property purchases, investments, machinery purchases, stock holding, tax losses and so on . Net profit tells no story at all, its just what they pay tax on. I didn't realise that point, i.e. that they only pay tax on the declared profit, in which case if all the other facts are germane, they are quite clever. Standard accounting practice in any well run business
Martin (Deano)
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Joined: Mar 2009
Posts: 3,666 Likes: 43
Talk Morgan Addict
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Talk Morgan Addict
Joined: Mar 2009
Posts: 3,666 Likes: 43 |
Is that profit after buying back the site? I've always been led to believe that buying property must be done from nett profit, not tax allowable....can that be right? Nick
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Joined: Dec 2008
Posts: 21,871 Likes: 168
Roadster Guru Member of the Inner Circle
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Roadster Guru Member of the Inner Circle
Joined: Dec 2008
Posts: 21,871 Likes: 168 |
It's not my specialist area but there are certain capital allowances which can be offset against corporation tax.
The land and buildings will appear in the balance sheet as an asset, and any loan or charge against this will be a liability. But don't assume the Motor Co will hold the asset. It could be an associated company or even a family company or trust arrangement.
DaveW
'05 Red Roadster S1
'16 Yellow (Not the only) Narrow AR GDI Plus 4
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