Adey commented as follows:
Without knowing the details (of the liabilities), and especially any agreed but not contractual deferred payment arrangements especially for the current portion, it is impossible to tell (if the liabilities are a bad sign).
The balance sheet shows an entity that is technically insolvent, presumably reliant on creditors not seeking repayment of debts that are due. And a HUGE increase in "other creditors" (usually things like directors' loans, but who knows?) which appears to have been used to pay off nearly all the bank loans and overdrafts. On the face of it, this COULD be a pretty positive development - PROVIDED they ARE mostly loans, and from friendly parties on favourable terms. But it remains a huge amount of cash flow the club will have to generate, to repay them. Note the accounts are unaudited.
