"David Woolley" wrote in message
...
Anthony R. Gold wrote:


It would cause a decrease in assets (cash) with no change in liabilities.

The share capital is a liability. Either that liability would decrease,
or the shares would become assets, and the sssets would increase to
balance the expenditure.

Either assets and liabilities would both decrease, or both would stay the
same, but the type of asset would change from cash to shares.



In this case the assets stayed the nominally the same.

The shares were a low value £1.00, but they were bought back at a greatly
inflated value, I assume to reflect the value of the perceived company at
the time.

I appreciate the help from both of you.