Originally Posted by
SWBKCB
This looks odd - haven't the accounts already been released and discussed? This is probably a report of some internal TVCA finance committee or such like.
Grow up Beefer, it's explained in the article - it's the re-furb of the terminal etc, not the "Duck house in the moat" type expenses you're implying.
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A few facts from the latest Teesside Airport Ltd accounts
dated 14th Dec 2022 for the previous year.
The latest file downloads into a pdf presentation with a lot of financial information provided by the company/auditors.
https://find-and-update.company-info...filing-history
Profit and loss account:
-£79m. page 13
Liabilities:
-£52m
Expenses are shown on page 15 of the filing history file = -
£2.3 million for the year. Not refurbishing the building SWB. More to do with
exiting contracts.
Obligations for the rail terminal.
Page 15: Summary of
non disclosure exemptions:
No cashflow presented by the company?
No disclosure of remuneration of key management personel.
Airport Directors payments:
£212,000. I think they are the individuals named in the documents, (councillors?).
Assets under construction
£1m
Depreciation expense
-£602,114.
Employees 115, up from 89 in 2021.
Staff costs: £4.1m.
Admin staff: 45 (2021 staff 27). Operational staff: 75.
Companies valuation of the asset: £30m. Up from £20m the previous year.
A lot of figures, and losses. Airport Pension plan is now paid by the councils.
It will be interesting to see how long the Mayors TVA will have the funds to continue to prop the airport up.
A mention of the 50/50 split. £1m investment - Not sure if thats the south side company, or the North side?
Needs an accountants eye to work out the rest of the forecasts, and estimates shown. Some bedtime reading SWB
