Sundae Bar: abysmal year end results and accounting issues Part 1

I did warn you all! The elephant in the room in Sundae Bar’s (SBAR) horrendous year end loss of £26,967,466 is the goodwill impairment of £25,079,236 which the Directors attempt to downplay the severity of. How that goodwill was there in the first place seems to me to be a breach of some basic accounting rules and I shall explain later why that is and why I shall be contacting my pals at the Financial Reporting Council. But let’s look at the appalling numbers from a business which only listed last June 3.

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