• Text size      
  • Send this article to a friend
  • Print this article

Pre-tax profit for Teasses after £3000 loss last year

TEASSES Capital, the private equity business owned by Sir Fraser Morrison, made a £51,000 profit before tax in the year to April, compared with a loss of £3000 in the preceding period.

The latest abbreviated accounts for the company show it reduced its balance sheet deficit to £139,021 at April 30 from £190,084 at the end of the preceding year.

The company said directors consider the going concern basis is still appropriate for the preparation of the financial statements. Teasses added: "The ability of the company to continue to trade is dependent on the support of Sir AF Morrison, who... has confirmed his intention to provide continuing financial support to the company through the extension of significant loan funding."

Teasses was formed in 2002 to manage Sir Fraser's wealth including his share of the proceeds from the £262.5m sale of Morrison Construction to AWG.

Contextual targeting label: 
Finance

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

206263