Business with the Donnos
Join the Donno family each week as we share the real highs and lows of running a business together—mixing practical advice with unfiltered stories from behind the scenes of family life and entrepreneurship.
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Business with the Donnos
Theatre Chairs and Popcorn: Making Balance Sheets Make Sense
The heartbeat of your business isn't your profit and loss statement—it's your balance sheet. We pull back the curtain on this misunderstood financial document that reveals the true strength of your company.
While most small business owners obsess over turnover figures, we explore why focusing solely on profit can lead to disaster if your balance sheet isn't healthy. Paul breaks down the critical components in plain English: assets (what you own), liabilities (what you owe), and how these must balance with equity to create financial stability that withstands sales downturns.
We tackle common misconceptions head-on, particularly the dangerous assumption that money in the bank equals financial health. Your suppliers, creditors, and potential business partners can see your filed balance sheet at Companies House—it's your business's public financial face. Understanding what they're looking at could mean the difference between securing credit terms or being forced into upfront payments.
Through relatable examples (including a musical theatre analogy for the creatively-minded!), we demystify fixed assets, current assets, liabilities, and the critical importance of maintaining positive working capital. Paul shares why he reviews our company's cash flow weekly and forecasts months ahead—practical wisdom from decades of financial management.
The balance sheet isn't just a document for accountants. It's the foundation of intelligent business decisions, revealing whether you can weather storms, fund growth, or position your company for eventual sale. If you've been neglecting yours, this episode provides the clarity and motivation to change that today.
Ask your accountant to explain your balance sheet—and if they can't make it understandable, find someone who can. Your business's future may depend on it.
🎧 Listen now on Spotify & Apple Music and don’t forget to subscribe, share, and leave a review – and send us your questions for future episodes!
Welcome to Business with the Donos, where we talk about family business and everything in between. I'm your host, jade Dono, and I'm here with my dad, paul Dono, and this week we are talking about balance sheets. Woo Woo, it's so exciting. So, first of all, dad, can you say in plain English oh my, my goodness what a balance sheet actually is in plain english plain english okay, so a balance sheet is exactly what it says.
Speaker 2:It's a sheet that balances and it it shows you the assets and liabilities of a business compared to, and it ties it in with the profit and loss account. So the profit and loss account side, with the equity of the business, shares etc, has to balance with its assets and liabilities. That is a very, very short, confusing, plain english version without showing. English it's getting to me Plain English yeah. So, yeah, it's difficult to explain it without pictures.
Speaker 1:Okay. Well, this is a podcast, so you've got to try and explain it without pictures. We promised all our listeners last week that we would explain it, explain a balance sheet.
Speaker 2:I think you know, at the end of the day, a balance sheet is something that is often neglected by a lot of small business owners. Everyone is focusing on turnover. Oh, my turnover is over a million, but it doesn't matter if you're not earning any money at the other end. So people focus on turnover. Then, as accountants, we focus on profit maybe gross profit and net profit but what people forget is that a balance sheet is the strength of the business. You know, can your business continue if your sales drop down If your balance sheet is strong, ie positive, not just cash in the bank, it will come to that, but if it is strong and robust enough, then your business can move forward. And I would urge any small business owner to go to their accountants and say can we concentrate on the balance sheet as much as our profit loss account?
Speaker 1:yes, okay, so just because I'm sorry dad's gone on his phone. It's very.
Speaker 2:No, it's because I've got these hearing aids and the Bluetooth links to my hearing aids and all of a sudden someone sent me a message and it's reading them to me, so I've turned it off.
Speaker 1:He got a little in ears.
Speaker 2:I've got in ears. They're not helpful. Ones In ears have gone.
Speaker 1:Okay.
Speaker 1:So, from my understanding very limited understanding, although, as I mentioned before, my current module in my MBA is finance, so I've been doing quite a lot more research and I do hear people talking about this stuff all the time, but from somebody who did musical theatre, this is my understanding.
Speaker 1:So you have two for an SME, you have two main financial statements that you're going to want to look at, and that is your profit and loss, which does what it says on the tin. And then you have your balance sheet and, to explain what Dad said, your balance sheet has your assets, so your stuff that you could sell for money. It then has your liabilities, so all of the money that you owe, your liabilities, so all of the money that you owe, and it also has, like, your cash in the bank and sort of um, like any other investments and things that you've got as well, and that basically then means that if you're looking at that and that is strong, if your sales were to dip down, as dad said, you've got assets that you could sell and you've got money in the bank that could keep you going. That is why it's important, am I right?
Speaker 1:Yeah, it's not bad yes.
Speaker 2:So musical theatre, the balance sheet will be your theatre. Yes, so that will be your theatre, and the chairs and everything else like that and the money that have been taken in on ticket sales and the payments to suppliers that's your balance sheet.
Speaker 1:Yep.
Speaker 2:And then your profit and loss, which makes the balance sheet work is your sales of the show and what have you and your popcorn and all that sort of stuff. Yeah, and that's kind of a very strange way of explaining it in musical theatre lovey land.
Speaker 1:Musical theatre lovey land Okay, okay, it in musical theatre lovey land. Musical theatre lovey land okay, all right. So that sort, I think that sort of explains it. So why, why does it matter? Why, why do we strive to have a positive balance sheet?
Speaker 2:I mean a a few reasons. At this moment, if you're a small business or a micro business, you only have to file a balance sheet at a company's house and it's a cut-down version as well. So that is all people can look at when they're looking at you as a business. So if a client comes to us and says we're going to trade with this company, what do you think of their business? The first thing we do is we go in company's house. We look at their balance sheet. A we see whether or not they're overdrawn or not, and b we see whether or not their current assets ie what they can sell within the next 12 months against their current liabilities, what they can, what they have to pay for in the next 12 months. We make sure that their current assets are above their current liabilities, which means they can pay off their debts, etc, etc.
Speaker 2:It doesn't really. We can't really get to a profit and loss figure and we can't get to owner's dividends either.
Speaker 1:No.
Speaker 2:Or shareholder's dividends, but that is public record. It's the only thing that is public record. So we do try and do a positive balance sheet. You know we often have clients coming, come in and go oh well, we made a loss this year but we'll get a? Um, we'll get a tax refund. You know, that's it, say lovey, and then we might sit there and go. That's fine.
Speaker 2:But your suppliers that you rely on that go to credit referencing the agency may even factor that your debt are suddenly going to get hit with all their reports saying your balance sheet is insolvent and therefore your credit limits are going to be cut or you're on a upfront payment, and that can really devastate a business. So if you don't understand that, whilst it's, you know oh, it's okay, I'm not paying any tax this year and you've kind of resolved yourself to that. You need to make sure that balance sheet is positive. You need to make sure it's better or as good as the year before, especially if you're trading with big suppliers and when I say big suppliers it can be down to a builder, you know, dealing with the big, the big suppliers like travis perkins, mkm, you know those sort of things.
Speaker 1:They're going to be doing credit checks on you and they're going to monitor your business all the time, and they have software to do that yeah, and I mean equally, if you understand the balance sheet and what it's for, you could be checking your people um so that you can adjust your credit terms, you know yeah, absolutely or deciding whether you're going to use a person or not.
Speaker 2:You could be checking their balance sheet as well, if you understand it yeah, so your ability to make you basically make sure balance and understand what lenders want.
Speaker 1:Yeah.
Speaker 2:I remember sitting in front of someone who wanted to borrow a significant amount of money from Barclays Bank, one of the high street banks, and that bank would have been happier if they'd have been effectively hiring their equipment rather than buying their equipment. Yeah, because that made a difference on their um how they were funded.
Speaker 1:It's understanding that and understanding what is right for your business in terms of the way that your balance sheet is structured yeah, and also, if your goal is to sell your business, you need a strong balance sheet to you know, be in a good position there as well. Is that right?
Speaker 2:yeah, so you know you need to have the working capital there. So ie funds that can, that can, at least you know, operate your business for one, two, three months ahead, um, without you know, with a proper sales drop and if you want to sell your, yeah, it is making sure that is a much stronger balance sheet. And in a small business, the thing that normally crucifies a balance sheet is the director's dividends, and what I mean by that is that not understanding the effect of dividends can be such a nightmare. And what often happens for those that don't understand it and just concentrate on profit and loss and not on their balance sheet is, for example, if they've got £20,000 in the bank account, the owner will go, I'll have that £20,000. Puts it in their bank, spends it, goes on holiday, goes on holiday, etc. Etc. But there's tax on that.
Speaker 2:So a dividend is a distribution after tax. So what they've not done is allowed for the tax side of it. And often we come to the year end and go your balance sheet's insolvent. They go well, it can't be, because you know, still got 20 quid in the bank, yeah, but you've spent the tax money and that dips them out. So it's so. I mean, I just can't emphasise it enough. It's so important to look at that balance sheet and understand it.
Speaker 1:Yeah.
Speaker 2:So just again, so that people really, really understand all of the terms that we're using, just explain what an asset is, why it's important, what like what it is so an asset is something that you use, ie a fixed asset which will be the top of the balance sheet is something that you use in the, in the business, for, um, you know, over a period of time. So in our business, our biggest assets are probably our laptops. Yeah, so we'll buy a laptop for argument's sake. They're about they've gone up now, they're about 1400 pound. We spend on one and we might say that's going to last us three years. Yeah, so we'll say for every year we'll waste that asset, we'll waste and it'll be called depreciation. Yep, so it drops down in value, but it hasn't gone straight onto the profit and loss account.
Speaker 2:So that's an asset and that's the value of the assets. We would expect the value of those assets. If the business had to be sold, that would be the value that would be put to those assets as a crude way of thinking. But then you have the next line, which is your current assets. This is stuff that can be converted to cash within 12 months, and your current assets are typically money in your bank, um, your trade debtors, yeah, something called pre-payments, which is an accounting term which I'm not going to go into because that's a whole different subject. And stock is another one. You know we talked about stock on the last podcast, didn't we? And how we turn that over and convert it to cash?
Speaker 2:Yeah, obviously you know, and stock turnover is really important to be able to do that. They're sort of like your big current assets. And then you've got your current liabilities. So current liabilities are loans, high purchase that you are going to pay back within 12 months yeah the next 12 months on that.
Speaker 2:Your suppliers, um ie what you owe people for the goods that you buy that you either resell or use within your business, and you've got credit terms um credit card accounts. A lot of people use capital on tap. I see a lot of people then extend that to funding on it and it's a really expensive way of funding your business.
Speaker 2:But that's another area that needs to be repaid, money you owe to the government, ie VAT, corporation tax and PAYE and employee taxes, such as taxes, is it? I call it taxes? It's your 3% pension contribution as well, that you owe. All of these, hopefully, are less than your current assets and that will give you your net current assets.
Speaker 1:Yeah.
Speaker 2:And then you have long-term liabilities. Long-term liabilities typically a loan will be five years.
Speaker 1:Yeah.
Speaker 2:So this will be the four years left on the loan or any balance of the loan after 12 months. And you might owe the business owner some money and that business owner might turn around and say, well, I don't want paying back for five years. So that would be a long-term liability as well. And then that's your value of your balance sheet. And then the bottom section is the shares typically 100 shares in a family-run business, typically two family owners, 50 shares each. Your profit and loss reserves, ie what you don't take out of the business, what is left in the business. That's after dividends. That is added to that figure. There I won't worry about revaluations because that's a different topic, but those two figures together should equal the balance sheet on top, assuming that is correct. And, to be quite honest, most software deals with the ins and outs of this.
Speaker 2:For any sad accountants listening to that. It used to be. Debit was on the left-hand side by the window, credits on the right, but your software deals with that that was a bit geeky for this podcast.
Speaker 1:That was very, very geeky.
Speaker 2:But yeah, in the good old days when you had proper, proper, you know handwritten ledgers, you know that. So and that's really is, then that's, the value of your business okay.
Speaker 1:So just for my understanding, because I can never work out why the balance sheet balances. My head doesn't do the maths, but basically that the middle figure in the in the report, um, it should be the same as the bottom figure yes essentially yes and that's what you've got to look out for to make sure it all works.
Speaker 1:Just make sure those figures are the same and if, like me, you can't understand for the life of you why they are the same, just accept that they should be, and if they're not, there's something wrong and ask your accountant.
Speaker 2:If they're not, a there is something severely wrong with the software being used and B your accountant is proper old school and probably doing it on Excel.
Speaker 1:Yeah, but just make sure those figures balance.
Speaker 2:They have to balance, and then they have to balance.
Speaker 1:That's why it's called a balance sheet. Just accept that, and if it doesn't balance, just ask someone. That's the theory I'm going to go with.
Speaker 2:Hopefully ask your accountant, and if they don't understand, just ask an accountant.
Speaker 1:that is competent, fine, cool. So a common misconception. You sort of touched on this, anyway, but I think we should just circle back, because this is something we get asked all the time. People assume, if they've got money in the bank, that they're doing well, but that's not always the case, is it?
Speaker 2:no.
Speaker 1:Tell me more.
Speaker 2:This is where working and understanding your numbers regularly really helps. So you might have collected your money in because someone's paid you up for an invoice. For all I'm saying yeah, yeah, so someone's given you an invoice. You've given someone an invoice, they've paid you. Yeah, yeah. So someone's given you an invoice. You've given someone an invoice, they've paid you. It's gone into your bank, but then you've got your suppliers to pay.
Speaker 1:Yes.
Speaker 2:So if your trade debtors ie how people are paying you is going down, which is great because cash is king.
Speaker 1:Yeah.
Speaker 2:But your suppliers' days are going up, then all you're doing is you're putting money in your bank account and not paying your suppliers. But if you've only got 20 grand in your bank account, your suppliers are 25 grand, automatically you're five grand the wrong way. So it is all about understanding what's in your bank, what your stock is, what hold your stocks holding, what your turnover on stock is, your debtor days, etc. Against what you're paying out. Yeah, um, and I would say you know us as a business. We keep a daily cash flow and we are one month in advance on a daily cash flow. We know exactly what we've got to pay out in the month and on what day with the money that comes in and how we pay it. I would urge any any business to do that. And we also forecast from a cash flow point of view where we're going to be now six months, 12 months, two years down the line we know what those figures are and I look at that.
Speaker 2:You know some of our clients look at it monthly with us.
Speaker 1:Yeah.
Speaker 2:A lot. Look at it quarterly. We look at it as a business, probably weekly.
Speaker 1:Yeah, yeah, because it's really important. Knowing your numbers is really important and understanding them is just really important, and it's not. I think, like we said last week, there's such a dark art around all of this stuff that it's just unnecessary. I think if you're running a business, you are definitely 110% capable of understanding your numbers. It's not as difficult as people think it is.
Speaker 2:No, and ask your accountant.
Speaker 1:Yeah.
Speaker 2:Ask them, ask them for support. I mean, how many times do we have someone going um no and ask you, ask your accountant? Yeah, you know, ask them, ask, ask them for support, you know? I mean, how many times do we have someone for not? This is a really dull question.
Speaker 1:I'm really sorry to ask it, but bring them on, ask the questions absolutely ask the questions and I think just in life, like not even with this just ask. If you don't know something, just ask someone. Nobody is going to be upset by you asking. You'll learn, and everyone not no one knows everything, so you have to just continuous learning well, apart from me. That's such a lie. Moving on everybody, I think. I think we've probably done enough about the balance sheet.
Speaker 2:I think we've bought enough people.
Speaker 1:I think yeah, we'll probably get about three downloads on this one this week.
Speaker 2:But it is so important, please, please, please, ask your accountant, please do that and challenge them about your balance sheet, and if they just waffle, just go. I want to understand this.
Speaker 1:Yeah, you know, just ask the questions, and if you're really really struggling as well and you don't know who to ask, just get in touch with us and we can talk it through with you.
Speaker 2:Yeah.
Speaker 1:No problem at all.
Speaker 2:When you say we, is that you?
Speaker 1:I can try. You'll get a very fluffy answer from me.
Speaker 2:Oh, your assets are your theatre.
Speaker 1:It's not a lie, is it Absolutely Indeed? You've got to understand it in your own way, yeah absolutely. So anyway, moving on to our unfiltered minute. So I'm going to start with my story today.
Speaker 2:Oh, here we go.
Speaker 1:Here we go. So my car, my poor car, was sitting outside.
Speaker 2:Your poor company car.
Speaker 1:My poor company car. That doesn't matter, it's neither here nor there, it's my car.
Speaker 2:Well, it does when you actually go into your detail.
Speaker 1:Anyway, the car was sitting outside Josh's parents' house and some Amazon delivery driver reversed into it and it's got a great big dent in it now, which you know is fine. The delivery driver was really good. He did knock on the door and he apologized when you said you know he's fine.
Speaker 2:That's not what you've been saying it's not fine anyway.
Speaker 1:So this has happened, but the annoying thing is the lease on my car comes to an end in two weeks time and now I've got to get the car fixed and deal with the insurance company, which has taken up an awful lot of my time this week, even though it was not my fault or anything. So this is my mini rant is that if somebody does hit your car, even when it's parked, it's going to take up your time and you need to prepare for that.
Speaker 2:I mean it's lucky you're not busy, it's lucky that you've got the time to do that. Just for the listener out there, Jade has just put her hand on her hips and given me that look that her mother gives me Dad's scared, and he should be. I am now going to just Look, you can tell in my voice I'm scared. So because it is lucky you're not busy, because we haven't got a cute, you know a quality control visit. Next week have we from our professional body, you're not being prepared for that.
Speaker 2:So are you no and we haven't just moved offices, have you?
Speaker 1:no no, and I'm not doing a master and it's not like mega hot and you're not sleeping very well no, no.
Speaker 2:None of that. So you know, a little dent in the car has just kind of made you just have something to do.
Speaker 1:Yeah, it's just made me busy. Yeah, no, this week is probably one of the busiest weeks I've had in a long time, and I could have done without somebody reversing into my car.
Speaker 2:At least I can look out and there's no bird pill in the car, because that's mum's car and not Josh's and yours.
Speaker 1:Yeah, at least the car might get cleaned now, who knows. Anyway, that was my little unfiltered moment. What's yours Dad.
Speaker 2:It's not completely unfiltered, though, is it? It's not only a little moment, it's one we've had for ages. Mine's not going's not completely unfiltered, though, is it, and it's not only a little moment, it's one we've had for ages.
Speaker 1:Mine's not going to be a rant.
Speaker 2:Okay, that's not a bad thing, no, mine's actually going to be, and I did put it on LinkedIn the other day about my new fitness regime oh so it's not a rant. I'm actually really pleased with what's going on at the moment.
Speaker 1:So, jen and I, your mom, oh, really, yeah, oh, I didn't know that. Did you know that? I thought her name?
Speaker 2:was mom. Yeah, um, we joined a new gym about eight weeks ago yep um a bit more, a bit more sort of one-to-one training in that um with small groups of up to six, and we're doing really well. It's mainly looking at weights.
Speaker 2:Yeah strength building. Strength building because we are getting a little bit older, Hitting the next decade in a few years' time, which is interesting. So we're trying to build strength, lose a bit of body fat, etc. And it's working, which is great. So my regime this week has been Monday I went to the gym.
Speaker 1:Well done, yeah, which was good.
Speaker 2:Tuesday I can't remember what I did on Tuesday.
Speaker 1:Probably played golf.
Speaker 2:I did play golf, did 10 holes of golf.
Speaker 1:There you go then Wednesday. I did play golf Again.
Speaker 2:Yeah, golf again. Yeah, yeah, this morning went to the gym, nice um, and tonight we're gonna walk betsy when it's a bit colder yeah, because it's too hot for her. At the moment, um friday, I'm gonna go on my peloton oh saturday golf nice and then sunday I've got to take mum shopping because apparently I've been playing a lot of golf.
Speaker 1:Oh, really, yeah, oh, it didn't sound like that from all of the exercise.
Speaker 2:However, I am on the last hole of the belt on my shorts. Well done. Oh and on Tuesday I cycled to the epicentre and back.
Speaker 1:Yeah, there you go, well done.
Speaker 2:Get that. But it's doing really well. But the good things about it, my BMI is down.
Speaker 1:Yep.
Speaker 2:Yep, so that's my body fat and all that stuff. My blood pressure is down Good, which is great, and my sleep is phenomenal.
Speaker 1:So we've got these, because you've got air con.
Speaker 2:Yeah, we do have air con. No, it's because I've got a good fitness ratio, so we've got these aura rings and my lowest heart rates have all have been up to about this last week. Um, I've been around about the sort of 49 50 mark.
Speaker 2:they're down the 46 47 mark oh, wow doesn't seem like a lot, but it's a really good trend, which means apparently I'm fitter good, well done and now my cardiovascular age has gone from two years ahead to only half a year ahead, so I think that that's really good and I actually feel a lot better for it, which is great good um, so, uh, so yeah. So that's my. It's not a rant, it's a bit of a.
Speaker 2:Invested a lot of time myself and I have had outside coaches as well, so obviously a coach for my fitness yeah I've got a coach for my golf yeah um, we do have a coach for the business as well, but I think that kind of you look it all back if you want to be better, you know, want to understand your numbers. You do need a coach and someone on your side just steering you in the right direction. Yeah, um, but don't tell mum, because Ollie has said I now need some new golf clubs no, he told you you didn't need them the other day.
Speaker 2:He's changed his mind and I need new golf clubs. So don't tell mum she won't listen to this she will but at about 6 o'clock tonight we need another podcast on how she's wrapped the old golf clubs around my head. So of course now he's told me I need new golf clubs. I'm looking at TaylorMade P790s.
Speaker 1:Oh God, he's looked for them already.
Speaker 2:I've looked on the YouTube. I've done a lot of research.
Speaker 1:I've asked Chachi PT Can you tell Mum before I come round on Saturday. I don't want to be involved in any awkward conversations.
Speaker 2:It's my birthday, coming up in august I know, but I can buy myself an early birthday present, okay, so anyway, that's all good really well done with the fitness as well.
Speaker 1:I've been doing my own fitness thing too and it's very different from yours and it's been working as well. So I think sometimes as well it's finding what, what's right for you and what fits in your routine, because I've been doing little exercise videos every morning by MK Fit. If anyone else uses her, she does little dance videos and Pilates videos to music. I like, so Disney songs and pop music.
Speaker 1:You've been doing Jane Fonda stuff as well, haven't you? Oh yeah, she does a Jane Fonda workout and that's great fun. That's really good fun. Yeah, proper 80s. Yeah, proper, proper 80s. That was really good. I did that the other day. And then I've been doing weight training as well, especially squats with my weight, and I've been walking jango as well, although it's too hot at the moment, so getting my 10 000 steps in at least a day. So it's finding what fits for you. And yeah, with that I've I've lost weight and my bmi's down and yeah, we have to go shopping again.
Speaker 1:Oh yeah, I'm gonna need new clothes at this rate, but as well, with with what, what you said, like I, I feel so much better. I've got more energy, even though I'm doing more exercise like yeah, it's great um, apart from this heat now oh yeah, the heat's the heat's ruining it. It's so hot I feel like I'm burning calories just standing here, but no cool. Have you got anything else to say on your, on your fitness?
Speaker 2:no, not at all okay.
Speaker 1:So we didn't get a listener question this week, so please, please, please, send us in your questions, but we have instead. So you got a phone call, didn't you, from your friend.
Speaker 2:Yes.
Speaker 1:And we set a challenge a few weeks back about the word proactive on our website. And you tell the story, Dad.
Speaker 2:So we said that we don't like the word proactive on our website. Yeah, I said that. I think jade actually knew we had it on our website.
Speaker 2:Yeah, you did know. So. My mate dan your mate dan, yeah, who runs nine jars in haverhill. He phoned me up, laughing with his son in the car, and he said pa Paul, you've set a challenge. And I went what's that? And he went the word proactive. It's on your website. I went oh no, really, where is it? He went it's on there. Six times I went oh no, so we need to get that off. But it does prove that he listens to it and James as well, obviously listened to it as well. So, um, that's his son, james. So you know, thanks for listening, um, and thanks for pulling us up on the fact that we got it wrong and proactive is on our website yeah six times um.
Speaker 2:So it just means because we're really proactive yeah, and obviously Dan was very proactive in telling me. In fact, I think he phoned up twice to tell me, did he yeah?
Speaker 1:He really wanted to rub it in. Yeah.
Speaker 2:And I don't know why he has to be so competitive with me. That doesn't make sense.
Speaker 1:All righty then.
Speaker 2:So thanks Dan.
Speaker 1:Thanks, dan. Thanks, dan, for your question. That wasn't a question, um, and if, like I said, if anybody does want to send us in any questions for next week's podcast, that would be great.
Speaker 2:We haven't got a guest this week again because still the microphone situation, but if you want to join our guest waiting list, let me know and I think, unless you have anything else, dad I think next week's podcast will be the experience of having our business turned inside and out for a review as part of our regulatory licence, which arrived last week, which was good, or was it this week, I can't remember what week, but we got our licence renewed, which is great, and I think I've had that licence for nearly 30 years, if not more. Woo Well done.
Speaker 2:That's unbelievable, isn't it? Yeah, so it's nearly as old as you, and yeah, so I think that we will, probably next week, discuss on what has been involved in making sure that we are absolutely compliant as a regulatory business.
Speaker 1:Yeah.
Speaker 2:I mean obviously from my point of view. I did find one certificate for you.
Speaker 1:Yeah, thanks for that. Yeah, that's okay Again, not been busy this week preparing for that.
Speaker 2:But I think that was helpful. I mean, I already sent it to you, didn't I, that ICO certificate.
Speaker 1:Yeah, but it had the wrong address on.
Speaker 2:Yeah, but you know it was the right address at the time. I sent it, but we were moving like that. Yeah, I know I hadn't realized you'd actually move the address in the first place, but there you go.
Speaker 1:So I think I've been very helpful, okay, but I think next week's podcast we'll talk about that and also just like governance in general over business, because it's important and it's one of those really ag things that nobody wants to do but you have to do. So we'll have a good rant about that. I think I'll be ready to rant. I'm ready to rant already. I'll be ready more ready next week lovely.
Speaker 2:Look forward to it. So next week's podcast will just be hosted by jade well, this week's was just you. Because I'm going golf.
Speaker 1:No, come for the podcast. I've put it in the calendar. Anyway, thanks for tuning in for Business with the Donos. If you've enjoyed this episode, don't forget to subscribe, share it with your friends and leave us a review. It really helps us. But for now, we will see you next week. Goodbye, bye-bye.