TomWinnifrith
Welsh Hovel
Greek Hovel
Woodlarks
About

All Stories

GOTCHA! BREAKING: FRC passes Satsuma complaint to FCA, half year numbers must surely now restate Q1s

Tom Winnifrith
Tuesday 22 July 2025
Sadly my pals at the Financial Reporting Council do not look at Q1 and Q3 results statements even if like those of Satsuma (SATS) they drive a coach and horses through IFRS rules and are thus gossly misleading. The FRC has written to me with this bad news but it says that it has passed the matter onto the FCA and clearly Satsuma is now on notice that it will have to restate Q1s when it publises half year numbers. Against that backdrop how on earth can it continue wth its current £100 million fund raise? Answers on a postcard to the Chocolate Teapots at the FCA. The FRC writes to me.

on Tom Winnifrith | Comments

Filed under:

About Tom Winnifrith
Bio
Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
Twitter
@TomWinnifrith
Email
[email protected]

Click here to listen the old-fashioned way.

Recently Featured on ShareProphets
  1. Tom Winnifrith Bearcast: As we all pray for Magna Carta I wonder do I dare think Nigel Wray has it wrong?

     

  2. Hamak Strategy: surely this is an RTO and a prospectus is needed? Where is the FCA on all of this?

     

  3. Video: Greg Orrell - Why Gold & Silver Are Surging

     

  4. Hamak: not 1 but 2 death spirals, what’s not to like?

     

  5. Tern Open Offer flops- without a firesale it will run out of cash in less than three months

     

  6. Eco Buildings: bear squeeze possible? something not right

     

  7. Tom Winnifrith Bearcast No 3: Predator, I just don't believe you

     

  8. DYNAMITE: Cirata, a whistleblower writes

     

  9. Tom Winnifrith Bearcast No 2: Could one of my tips of the year be about to multibag?

     

Sign up for my weekly newsletter








Required Reading
  1. 18m person Japanese study shows covid jabs increase death risk: Conservative Woman

     

  2. Mark Steyn: The Great Big Convoy

     

  3. Damning review of Nicola Sturgeon biography by JK Rowling

     

  4. Tossers at the Oxford Union think Tory Peer Hedge Fund Manager represents the Despised Working classes more than author & Dagenham firefighter Paul Embery,

     

  5. What's the Point of Private Eye? The Daily Sceptic

     

  6. Obesity will starve the NHS: Unherd

     

  7. Mark Steyn: one year on from October 7

     

  8. The press & the US Election: they see their corruption as heroism - RCP

     


Recent Comments


I also read
  1. Caroline Glick

     

  2. Mark Steyn

     

  3. Mark Wadsworth

     

  4. Melanie Phillips

     

  5. Order Order

     

  6. Peter Hitchens

     

  7. Tim Worstall

     

  8. Wexboy

     

  9. Zero Hedge