Quindell Red Flag (small one) Note 20 2011 Annual report – that Chris Farrelly chap again

This is just a small Red Flag but it is a tad confusing none the less. I refer you to note 21 of the 2011 Annual Report from Quindell (QPP):

Included above within gross trade receivables due from third parties is £28,014,000 (2010: £nil) relating to debts subject to discounting. Included in other receivables is £250,000 representing the rights to the beneficial interest in 52,000 A ordinary shares in Sandbourne Systems Limited. This  expenditure  has  been  shown  in  the  cash  flow  statement  as  a  cash  outflow  in  respect  of investments.

Hang on a second

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