Woah! Just seen Katie's new business accounts.
Business cash in the bank has gone down from £19300 to zero.
The business has a £10,000 loan from the bank (due to be paid off within one year) .
The business bank account is overdrawn by £25,000 (due to be paid off with one year).
Then there's another loan due after a year for £27700.
Last year the loans were roughly the same and also due within the year, so assume she negotiated with the bank, or borrowed again. But the business wasn't overdrawn before.
There is another section of £63k due within a year, and I believe her salary could be included in this as it is an expense, as well as other expenses. Plus she is owed money too, from I presume sales?
Overall it balances out, just! But it certainly doesn't look healthy, with the loans and overdrafts. Like, how is that possible for something like Younique? Just looked at a similar Black Status Presenter, they have no loans, or overdraft and a good balance. She said a few weeks back her accountant wouldn't be happy with her spending, I'm not surprised, she has no money sat in her business account, she either owes or they owe her. I bet her and Lee are spending too much by paying such a high salary and causing cash flow issues.
I know she has her caravans but they aren't going through the business as there's minimal assets showing.