Ian Warren

5.7K posts

Ian Warren

Ian Warren

@Threshersman

25 years in financial control/directorship followed by 20 years mentoring/coaching SMEs. I think of myself as your business doctor...and friend...and promoter.

Norfolk Katılım Temmuz 2010
855 Takip Edilen778 Takipçiler
Ian Warren
Ian Warren@Threshersman·
I thought you would be interested in this story from The Times: Watchdog considers action against lawyers in Post Office scandal. thetimes.com/article/9e4f45…
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El Shaikh
El Shaikh@ElCShaikh·
1/2 Few forensic investigators have the expertise in Horizon of Ron Warmington; & few know more of the devious behaviours of PO Investigators. So when Ron goes on record to expresses serious doubts as to the safety of Robin Garbutt’s conviction, it’s time for the CCRC to listen:
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Ian Warren
Ian Warren@Threshersman·
I thought you would be interested in this story from The Times: Postmasters' lawyer quits over Lammy's 'tyrannical' jury reforms. thetimes.com/article/80c0e1…
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Ian Warren
Ian Warren@Threshersman·
@CastletonLee I’ve been under the misapprehension that PO had been removed from the redress process years ago….it beggars belief that this is still being suggested as a “good thing to do” by this administration…..
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Lee Castleton OBE
Lee Castleton OBE@CastletonLee·
This isn’t a new revelation. When people put the perpetrators in charge of redress what does anyone expect. The victims have asked for change for years. Keep paying the lawyers hundreds of millions and they keep stringing it out. Kicking the can as they say.
Liam Byrne MP@liambyrnemp

Fujitsu has paid nothing toward a £2bn redress bill yet still profits from public contracts. 2,500 sub-postmasters are still waiting for their full claim to be paid; 1,500 are still to receive any money. Serious structural failings persist. That cannot continue. @CommonsBTC new report, out today👇 committees.parliament.uk/publications/5…

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Ian Warren
Ian Warren@Threshersman·
I thought you would be interested in this story from The Times: Fujitsu failed to pay 'a single penny' of £2bn Horizon bill. thetimes.com/article/83b91c…
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Harry Eccles
Harry Eccles@Heccles94·
I seem to have upset the @SuellaBraverman fan club - so let me be clear. This women sows hate, lies and division. She is wrong. She does not represent the vast majority of Britons. RT if you agree P.s. multiculturalism is great.
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Nick Wallis
Nick Wallis@nickwallis·
I'd somehow managed to convince myself that Gareth Jenkins was little more than a useful idiot, but tonight's Panorama has reminded me of Jason Beer's demolition during the second day of Jenkins' evidence to the Inquiry: postofficescandal.uk/post/gareth-je…
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Ian Warren
Ian Warren@Threshersman·
I was born in 1947…here is the most influential and greatest contributor to the human race in my lifetime
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Monsieur Cholet
Monsieur Cholet@stugoo17·
#PostOfficeScandal #PostOfficeInquiry Post Office Financial Red Flags and Governance Crisis 2025 Quick AI Generated analysis of the Annual Report and Accounts (ARA) of Post Office Limited for the financial year 2024/25 reveals several critical issues and material uncertainties, constituting "red flags" regarding the Group’s financial stability, governance, and operational viability, particularly given its reliance on government support and ongoing legacy issues. 1. Auditor Warnings and Material Uncertainties The Independent Auditors' Report flags the most severe concerns: Qualified Opinion: The auditor issued a Qualified Opinion on the financial statements. This is due to an inability to obtain sufficient appropriate audit evidence regarding the Directors' estimation of the £671 million Horizon Shortfall Scheme (HSS) provision. This lack of evidence regarding the scale and valuation of claims means the reliability of this major liability figure is questioned. Material Uncertainty Related to Going Concern: The ability of the Group and Company to continue as a going concern relies on the continued financial support from the Government (DBT). In a severe but plausible downside scenario, if non-contractually committed funding for Remediation Matters running costs and material taxation liabilities (such as the £101 million IR35 provision) is not received, the Group forecasts breaching its borrowing covenant and exhausting its Working Capital Facility, meaning it would be unable to meet its liabilities as they fall due. The Letter of Support provided by the Shareholder does not constitute a financial guarantee and includes caveats, such as being subject to His Majesty’s Treasury (HMT) consent and the Subsidy Control Act 2022/Competition and Markets Authority (CMA) referral process, creating a material uncertainty. Emphasis of Matter on Estimation Uncertainty: There is significant estimation uncertainty related to the valuation of the £88 million Overturned Convictions (OC) provision. The calculation is highly sensitive to management assumptions regarding settlement amounts for complex remaining claims, which could materially impact the financial statements. 2.   Financial and Trading Concerns Profitability Masked by Government Funding: While the Group reported a profit before taxation of £154 million (a large increase from the prior year's loss of £612 million), this return to profit is "driven by the timing of Government funding recognised in relation to Remediation Matters settlements, rather than an improvement in the Group’s underlying trading performance". Underlying Trading Loss: The Group reported an underlying trading loss of £12 million for the financial year, representing a £34 million decline year-on-year (compared to a £22 million trading profit in 2024). Significant Net Liabilities: The Group remains in a substantial net liabilities position of £1,116 million. Revenue Decline: Total revenue decreased by £41 million (4%). This loss was exacerbated by the drop in revenue from Financial Services, Insurance, Travel Money, and Payment Services (down £33 million, 14%) and Retail, Government & Identity Services (down £24 million, 39%), reflecting ongoing cost base pressures and market shifts. Material Fixed Asset Impairments: The Group recognised £120 million in fixed asset impairments, following an assessment that excluded the anticipated full benefits of the Transformation Plan. This reflects ongoing challenges in the trading outlook and adds to impairments from prior years. High Tax Provision: A significant £101 million provision is retained for potential tax and penalties related to historical inaccuracies concerning the off-payroll employment legislation (IR35). The Group is reliant on Government funding to meet this liability. 3.   Operational and Strategic Weaknesses Failure/Change in Horizon Replacement Strategy: Management discontinued the previous Horizon replacement strategy during the year. While work is ongoing to implement a new approach, this represents a major setback in modernising critical technology infrastructure. High Residual Risk Profile: The formal risk assessment shows numerous Principal Risks are rated High Residual Risk, meaning controls currently in place are insufficient to reduce the threat to an acceptable level. These include Cyber Security, Finance, Information (data governance), Operational issues (Postmaster support), People (attraction/retention), Reputation (due to historical issues), Strategy (delivery risk), and Technology (robustness). Cultural Issues Identified: Internal reviews highlighted a need for a "more commercial and cost-conscious mindset, as well as a less risk-averse appetite (at Board, Executive and throughout Post Office)". This suggests a cultural weakness impacting strategic execution and profitability. Redress Liabilities Continue to Grow (Operational Costs): Operational costs associated with the Post Office Horizon IT Inquiry (POHIT Inquiry) and Remediation Matters running costs totalled £148 million in the year (£47 million for POHIT Inquiry and £101 million for Remediation/Central running costs funding). The running costs specifically for Remediation Matters schemes increased from £36 million in 2024 to £58 million in 2025. 4.   Governance and People Issues Executive Turnover: The financial year saw the departure of the former Group CEO (Nick Read) and former Group CFO (Alisdair Cameron), along with multiple Non-Executive Directors. High turnover in executive and non-executive leadership can indicate instability during a critical transformation period. CEO STIP Waiver: The new CEO, Neil Brocklehurst, voluntarily surrendered his Short-Term Incentive Plan (STIP) payment for 2024/25, recognizing that incentive outcomes must reflect the wider performance and the need to improve postmaster pay. This highlights a symbolic acknowledgment of underlying business distress despite certain targets being met formulaically. Lack of Diversity at Senior Levels: The Group noted a "significant gap" in representation at the Senior Leadership and Executive Team levels for both gender and colleagues from underrepresented ethnic backgrounds. For example, Executive Team ethnicity representation was only 11%. corporate.postoffice.co.uk/media/xklcwc1b…
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