Cake Box Share Discussion Threads

[parttime] 24/1/2022 17:02

In deed saurish,

As I see it this simply gives us a bit more detail about what we already knew last year, my take is that Cbox has since strengthened the Board with more experienced market operators and ,hopefully, now in a much better position. I suspect they will be on the naughty step for a time but the market has a surprisingly short memory imo.

'


'' .....The errors noted have no impact on the Group's reported profits, cash flows or balance sheet and the Company received a clean audit opinion for the year.

As previously announced and as we continue to grow the business, a key priority for the Board remains underpinning growth with the appropriate level of experience and expertise for the Group's central functions, internal controls and processes. BDO has also been appointed to assist with implementing improved internal audit practices.

The Board confirms that, since the Company updated the market with its half year results in November, trading in H2 has continued strongly and in line with expectations for the full year.''

[saurish] 24/1/2022 12:12

To all for the sake of clarity. It's not me who's written the article. The link is to the Twitter account of the person who wrote it who is not me. Sorry for the confusion. I'm a holder, who is waiting for the management response to this whole saga!

[cirlbunting1] 24/1/2022 11:39

@Saurish - "because the wrong figure has been circled here: £2,016,111 instead of £1,860,396 and this is most likely “The franchisee support fund”.

He's highlighted the right figure. 2m is phantom. Payables should have increased by 1.86m & shown under it. The increase of 1.86m should not have been under " "Increase/(decrease)in other financial assets" > under your thesis.

2 things wrong here:

1) The figures should be switched if that's the case.
2) CFO is definitely inflated by 2m.

[mngf] 24/1/2022 10:44

Just think this is tainted now. Got out in the morning, will probably shoot up 50% now

[purple11] 23/1/2022 21:14

PATTISSERIE VALERIE PART 11

RUN FOR THE HILLS

GATHER WHAT YOU CAN

DONT LOOK BACK

[saurish] 23/1/2022 21:06

A counter argument to Maynard Paton reporthttps://twitter.com/blackswanshares/status/1485188276881342472?s=21

[topvest] 22/1/2022 22:09

The article is very good. Auditors walking for those reasons is a concern as it implies a lack of trust in management. From a 5 minute look there are some red flags and the cash flow statement is pretty obviously incorrect. As I've said before, something doesn't quite feel right with this company and the article has definitely revealed some worrying aspects for anyone willing to do the work on the numbers.

The cash flow statement includes a c£1.9m cash inflow for an increase in other financial assets which is too high and the wrong way around! It's not clear what the c£1m of other financial assets are, but I suspect are loans to franchisees or something like that. If Other financial assets increased by c£0.9m in the year, then its a £0.9m cash outflow and not a c£1.9m cash inflow...hmmm!
There is also a c£1m cash outflow from a build-up in debtors and a c£2m creditor stretch. Lots of related party transactions and franchisee debtor build-up, but no bad debt provisions.

Be careful with this one!

[ditchsid] 22/1/2022 17:10

The accounts were filed last July and the auditors resigned in October. This is all old news and must surely have been factored in to the share value by now.

[thelongandtheshortandthetall] 22/1/2022 17:04

Have management been given the right to reply or not.

[tmfmayn] 22/1/2022 11:39

[SharePad] Small-Cap Spotlight Report: CAKE BOX #CBOX


An auditor becoming “concerned about the robustness of the Company’s control and governance frameworks” seems very alarming to me

[johndoe23] 22/1/2022 09:11

Interesting article...

[hydrus] 22/1/2022 00:41

https://maynardpaton.com/blog/Ouch

[jimmy2fingers] 18/1/2022 13:57

Agree with henryatkin. Also anyone seen the Chamdal's justify their November sale? Are they creating liquidity or just cashing out as think it's peaked...

[henryatkin] 08/12/2021 16:59

I don't see why ASDA would want to own CBOX any more than Tesco would want to own Krispy Kreme or Morrisons want to own Timpson's shoe repairs/key cutting. It won't happen.

[martingredo] 08/12/2021 14:50

My money is on a £6 per share by Asda- where Cakebox is now being successfully rolled out

[martingredo] 08/12/2021 14:48

Imo will be a £6 a share bid

[martingredo] 08/12/2021 09:55

Only a matter of time imo before Asda take over this share at £6 per share

[scooper72] 26/11/2021 00:25

Yep. Read the RNS. Thanks. Whether it's him or his wife is a bit immaterial. I did think based on the Stockopedia reflection whether to just leave profits invested and take capital out. But since my holding is just 1.5 percent of my SIPP and the CAKE holding is up 58 percent I think I am better off seeing this as a decent long term hold and just top up if the price slides back to 300p. Give this another few years and it is likely to be just a much better and more established business and probably one of the local high street survivors.

[ditchsid] 25/11/2021 17:07

Scooper, his missus sold about 25% of their joint holding. They still own nearly 25% of the company. Polish your reading glasses.

[glavey] 25/11/2021 13:18

After a run like this has had (where, frankly, the share price has got far beyond sensible) they want to take their money back. If the rest of the market is happy with that, who can blame them.

[investing2retire] 25/11/2021 09:35

woke up late today. luckily my stop loss took me out at just over break even.

[stallone10] 25/11/2021 09:30

So family are selling do they see supply problems?