quidco results to 31/7/2011

Sarah
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Re: quidco results to 31/7/2011

Post by Sarah » Wed Apr 25, 2012 6:36 am

richard@imutual wrote:Then tcb. From their accounts we see that the latter two are making millions of pounds from cashback users
They're keen to point out though, that the results cover all the ventures of the parent company, not just profits from cashback.
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richard@imutual
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Re: quidco results to 31/7/2011

Post by richard@imutual » Wed Apr 25, 2012 8:22 am

Their (audited) accounts make no mention of other income sources within the company (there is only one company, so the term "parent" doesn't apply). Indeed, they give the clear impression that their turnover and profit comes ONLY from the tcb website. If there is a significant proportion of turnover generated from elsewhere, then their accounts are misleading. But I suspect they are just embarrassed by public discussion of the figures, and are trying to deflect criticism. Someone might want to ask what these 'other sources' are and what % of turnover they account for ;)

P.S. (I assume you're referring to tcb, though the same response would apply to quidco)
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Re: quidco results to 31/7/2011

Post by Bruce » Wed Apr 25, 2012 8:24 am

Is HUKD a trading name of Maple Syrup Media Ltd, or is there a separate company?
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Re: quidco results to 31/7/2011

Post by Sarah » Wed Apr 25, 2012 8:39 am

I expect you're right, Richard. I made no comment about the validity of their statement - but that's what they claim in their public response to discussion of the figures!

I've read that HUKD is now separate from Q, or at least much more separate than they once were, however I don't know exactly what situation exists between the two companies these days.
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Re: quidco results to 31/7/2011

Post by richard@imutual » Wed Apr 25, 2012 9:46 am

AFAIK they've always been separate companies. The link has been the directors

The Related Party Disclosure in the accounts reads:
The Director, (named) is also the controlling shareholder in Tipping Canoe Ltd, a company registered in Seychelles. Services for software customisation totalling £12,016 (2010 £162,776) were provided by Tipping Canoe Ltd during the financial year
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Re: quidco results to 31/7/2011

Post by richard@imutual » Wed Apr 25, 2012 9:52 am

It seems difficult to pin down the legal ownership of HUKD - closest attempt I could find was this thread :?
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