The opinions and hopes of 2010 were hopelessly out of line with reality, despite the fact that various reasons were given for showing the outcome not to be optimistic. Did Director Robson know something of which NPS was unaware when he stepped down?
The strength of the balance sheet relies overwhelmingly on an intangible asset which may be the premium on acquisition or it may have existed in history -
In a word the acquisition of the company should not have taken place in this form, if at all. Perhaps an asset purchase leaving the losses and overvaluation to the owners to sort out.
NORWICH COUNCIL TAXPAYERS -
Robson Liddle Ltd
(Parent company is NPS Property Consultants Ltd)
Report of the Directors -
It looks as if the NPS Group acquired Robson Liddle prior to March 2008.
Trading results for the 2010 report showed a very small pre-
Next year's accounts should be of more than ordinary interest. A big and continuing recovery is needed to bite into the profit and loss deficit accumulated of nearly £400,000 and turnover is still only £1,300,000.
Finance is made available by the group -
Is the lesson not that we have seen more and more the failure of in house council functions being transferred to incorporated companies; the finance and management of local authorities is unique in that, while expertise is required, the top echelon -