New TVR still under wraps! (Vol. 3)
Discussion
QBee said:
Gazzab said:
QBee said:
Gazzab said:
Ouch. What’s the extra £9m of debt falling due? Repayment of a loan?
No - the loan would have shown in the accounts.The implication is expenditure.
A loss implies trading expenditure or similar, given that it has incurred a current liabilty,
I will go have a look at the rest of the accounts and report back
The movement in reserves suggests that this has been spent on something revenue in nature, not capital, and that is most likely development work or consultancy fees, I would have thought.
Gazzab said:
Oh so let’s speculate. Gordon Murray? Battery tech? EV drivetrain mock up? Redesign of existing car?
I would suggest its whatever would keep the wheels turning for longest. Probably something EV related - presumably that'll lead to some R&D tax credits. If I was a betting man I wouldn't put money on the companies existing in their current form this time next year though.
In the notes of TVR Automotive, there is equity investment of £9.1m.
Para 10 - They say that the Audacia bond issue successfully raised 'initial funds'. That amounts to £1.47m. Repayment is due on the 30th April 2025 plus 8.25% interest.
They have also confirmed that they will NOT be building the cars in Wales. That is the end of that saga once and for all. So all those years of whining about the Welsh Govt means nothing at all.
Para 3.3 says: "The company has designed a new luxury sports car, the Griffith, for production and assembly at a potential production facility identified in South of England adjacent to a race circuit."
The wording in these accounts is the same they used in previous accounts concerning the Wales factory. All the talk of potential equity investors is again the same old spiel as we have heard so many times before.
They seem to be going in reverse.
Para 14 - Auditors Information: "We were unable to obtain sufficient appropriate audit evidence to support the directors' assessment that the carrying amount of the intangible assets is not impaired." The intangible assets are £9.6m comprising intellectual property and capitalized vehicle development costs. Oh dearie me.
Para 10 - They say that the Audacia bond issue successfully raised 'initial funds'. That amounts to £1.47m. Repayment is due on the 30th April 2025 plus 8.25% interest.
They have also confirmed that they will NOT be building the cars in Wales. That is the end of that saga once and for all. So all those years of whining about the Welsh Govt means nothing at all.
Para 3.3 says: "The company has designed a new luxury sports car, the Griffith, for production and assembly at a potential production facility identified in South of England adjacent to a race circuit."
The wording in these accounts is the same they used in previous accounts concerning the Wales factory. All the talk of potential equity investors is again the same old spiel as we have heard so many times before.
They seem to be going in reverse.
Para 14 - Auditors Information: "We were unable to obtain sufficient appropriate audit evidence to support the directors' assessment that the carrying amount of the intangible assets is not impaired." The intangible assets are £9.6m comprising intellectual property and capitalized vehicle development costs. Oh dearie me.
Edited by Viper201 on Tuesday 2nd July 16:22
I thought it was time to give an update.
Unfortunately,the much heralded New factory premises ( green house) , has not materialised.
So,we are having to make do with sheds.
The problem now,is that although the inclement weather is continuing, the courgette plants have out grown the sheds,so will have to fend for themselves in the open air.
TVR, don't even have undersize sheds to manufacture product,never mind a factory/ green house!
Unfortunately,the much heralded New factory premises ( green house) , has not materialised.
So,we are having to make do with sheds.
The problem now,is that although the inclement weather is continuing, the courgette plants have out grown the sheds,so will have to fend for themselves in the open air.
TVR, don't even have undersize sheds to manufacture product,never mind a factory/ green house!
astonman said:
I thought it was time to give an update.
Unfortunately,the much heralded New factory premises ( green house) , has not materialised.
So,we are having to make do with sheds.
The problem now,is that although the inclement weather is continuing, the courgette plants have out grown the sheds,so will have to fend for themselves in the open air.
TVR, don't even have undersize sheds to manufacture product,never mind a factory/ green house!
Unfortunately,the much heralded New factory premises ( green house) , has not materialised.
So,we are having to make do with sheds.
The problem now,is that although the inclement weather is continuing, the courgette plants have out grown the sheds,so will have to fend for themselves in the open air.
TVR, don't even have undersize sheds to manufacture product,never mind a factory/ green house!
This is true.
They built many thousands of cars in undersized sheds so that’s no excuse.
That’s amused me more than it should
astonman said:
I thought it was time to give an update.
Unfortunately,the much heralded New factory premises ( green house) , has not materialised.
So,we are having to make do with sheds.
The problem now,is that although the inclement weather is continuing, the courgette plants have out grown the sheds,so will have to fend for themselves in the open air.
TVR, don't even have undersize sheds to manufacture product,never mind a factory/ green house!
At last this thread is back on track Unfortunately,the much heralded New factory premises ( green house) , has not materialised.
So,we are having to make do with sheds.
The problem now,is that although the inclement weather is continuing, the courgette plants have out grown the sheds,so will have to fend for themselves in the open air.
TVR, don't even have undersize sheds to manufacture product,never mind a factory/ green house!
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