lol LD99, you have just shown how incredibly ignorant you are yourself in reading financial statements.
Your highlighted:
Trade and payables of $18m is covered by inventories. As the inventories (ie stock) is sold, the trade and payables are repaid. Given inventories is greater than payables nothing to see here.
Current lease liabilities represent the current years total lease obligations. This is a requirement of the accounting standards. Any retailor will have this. Again the correct analysis is to compare this to sales. Nothing to see here.
Income tax payable: this is tax payable on profitable trading. A good thing!!!!. The company is making real profit hence tax is to be paid and its a timing issue.
Non-current lease liabilities represent all the future liabilities on the current leases until the leases expire (ie all future rents payable until the leases expire). Again required under the accounting standards. All retailors have this.
And all this before you consider the $33m of cash on hand!!!!.
Looking at just the liabilities section of the balance sheet without comparing it to the assets side and then to the P&L and cashflow statements just shows your ignorance.!!!!
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