29 February, page-51

Mel,
You constantly refer to Quindell restating its 2014 accounts on a cash accounting basis (or nr cash accounting)
Page 105 of those accounts show that, in the assets held for sale to SGH, there was £110m in trade receivables.
How can there be trade receivables if everything is being accounted for as it comes in as cash ?
What's more, the total adjusted revenues of the PSD (page 8 of same accounts), show a total of £220m for the year.
Now I'm no accounting genius, but does that not mean the debtor days are approx 6 months ?
So not cash accounting then.
Hey, just imagine how much of a train wreck those QPP 2014 accounts would have been if they HAD applied cash accounting ? Now that DOES send a shiver down the spine !