Catz Club

Phew! The work crisis seems to have abated (slightly) and I am heading for the alehouse in a moment, but before I go here's an interesting snippet.

Labour has agreed to pay back £15,000 it received from a children's charity after a report found that charity law had been breached.

OK, more dodgy donations to the Labour party - nothing new there. Apparently the generous party benefactor, which provides after-school care and holiday clubs for children, believed it was an administrative error, and that they should have routed the gift through their trading subsidiary. Except that's illegal too, it seems.

Still, here's the fun bit. The accounts of Catz Club were qualified last time round on the grounds that the charity might not continue to operate as a going concern. They had a £3.4m deficit on income of £850k. Yes, folks they spent two and a half million more than they received in income! The auditors said they were being kept afloat by the chairman, one A Mitchell. The 2007 accounts are overdue too, so to say that they are up the creek without a paddle is probably an understatement.

So, do you think they were after something, in return for their generous gift?

Comments

[jnicklin]

That would be a fair be,. the whole thing sound a bit dodgy to me. If you are that far in the hole, where do you come up with money to give away?

[Manicbeancounter]

You have been a little too generous in the state of the finances of this organisation.
In £k
Income 854
Expenditure 4258 = 5 times income

Deficit 3404 = 4 times income.