LQDT » Topics » 3. Prepayments, accrued income and other debtors

This excerpt taken from the LQDT 10-Q filed Aug 8, 2008.

3.             Prepayments, accrued income and other debtors

 

3.1           Prepayments shall be included in the calculation of Working Capital in respect of amounts paid on or before the Closing Date in respect of goods and services to be received after the Closing Date.

 

3.2           There shall be included in the calculation of Working Capital an accrual for corporation tax.

 

3.3           The calculation of insurance, rates and licence prepayments in the calculation of Working Capital at the Closing Date will be made by reference to the total amounts paid on or before the Closing Date pro-rated between the periods before and after the Closing Date on a daily basis.

 

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