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Financial Statements
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Contents
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Page
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Directors' report
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1
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Statement of income and retained earnings
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2
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Statement of financial position
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3
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Notes to the financial statements
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5
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Detailed income statement
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9
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Notes to the detailed income statement
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10
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Directors' Report
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Director
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Director
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Company Secretary
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Registered office:
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Statement of Income and Retained Earnings
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2017
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2016
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Note
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£
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£
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Turnover
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Cost of sales
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--------
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--------
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Gross profit
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Distribution costs
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Administrative expenses
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--------
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--------
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Operating profit/(loss)
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(
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Other interest receivable and similar income
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Interest payable and similar expenses
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5
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--------
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--------
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Profit/(loss) before taxation
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(
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Tax on profit/(loss)
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–
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-------
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-------
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Profit/(loss) for the financial year and total comprehensive income
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(
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-------
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-------
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Dividends paid and payable
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(
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–
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Retained losses at the start of the year
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(
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(
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--------
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--------
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Retained losses at the end of the year
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(
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(
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--------
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--------
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Statement of Financial Position
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2017
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2016
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Note
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£
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£
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£
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Stocks
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Debtors
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7
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Cash at bank and in hand
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--------
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--------
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Creditors: amounts falling due within one year
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8
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--------
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--------
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Net current assets
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-------
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-------
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Total assets less current liabilities
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-------
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-------
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Net assets
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-------
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-------
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Called up share capital
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Capital redemption reserve
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Profit and loss account
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(
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(
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--------
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--------
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Shareholders funds
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--------
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--------
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Suspense account
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(100)
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–
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-------
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-------
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4,384
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4,271
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-------
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-------
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Statement of Financial Position (continued)
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Director
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Director
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Notes to the Financial Statements
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2017
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2016
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£
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£
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Interest on banks loans and overdrafts
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----
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----
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Land and buildings
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Plant and machinery
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Fixtures and fittings
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Equipment
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Total
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£
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£
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£
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£
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£
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Cost
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At 1 April 2016 and 31 March 2017
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----
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-------
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----
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Depreciation
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At 1 April 2016 and 31 March 2017
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----
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--------
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-------
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----
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--------
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Carrying amount
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At 31 March 2017
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–
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–
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–
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–
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–
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----
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--------
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-------
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----
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--------
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At 31 March 2016
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–
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–
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–
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–
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–
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----
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--------
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-------
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----
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--------
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2017
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2016
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£
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£
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Trade debtors
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Other debtors
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-------
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-------
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-------
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-------
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2017
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2016
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£
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£
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Bank loans and overdrafts
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Trade creditors
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Corporation tax
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–
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Social security and other taxes
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Other creditors
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--------
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--------
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--------
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--------
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2017
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Balance brought forward
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Advances/ (credits) to the directors
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Amounts repaid
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Balance outstanding
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£
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£
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£
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£
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–
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–
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(
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(
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–
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–
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----
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-------
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-------
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-------
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–
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(
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----
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-------
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-------
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-------
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2016
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Balance brought forward
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Advances/ (credits) to the directors
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Amounts repaid
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Balance outstanding
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£
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£
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£
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£
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–
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–
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–
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–
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–
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–
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----
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-------
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----
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-------
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–
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–
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----
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-------
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----
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-------
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Management Information
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Detailed Income Statement
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2017
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2016
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£
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£
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Turnover
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Opening stock
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10,663
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–
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Opening stock - raw materials
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–
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14,657
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Purchases
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4,101
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10,121
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Raw materials
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7,746
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–
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Small tools
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244
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–
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Consumables
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1,015
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–
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Ex Proc
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1,135
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–
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Misers
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501
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–
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Wages and salaries
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17,697
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19,200
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Direct wages accrual
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1,724
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–
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National insurance on direct labour
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1,534
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–
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Pension costs - defined contribution
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347
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–
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--------
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--------
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46,707
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43,978
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Closing stock - resale
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7,801
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10,663
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--------
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--------
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38,906
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33,315
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--------
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--------
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Gross profit
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Distribution costs
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3,000
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4,037
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Administrative expenses
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16,616
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25,359
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--------
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--------
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19,616
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29,396
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--------
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--------
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Operating profit/(loss)
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(
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Other interest receivable and similar income
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220
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170
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Interest payable and similar expenses
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(751)
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(637)
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-------
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-------
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Profit/(loss) before taxation
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(
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-------
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-------
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Notes to the Detailed Income Statement
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2017
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2016
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£
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£
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Distribution costs
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3,000
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4,037
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-------
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-------
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Directors salaries
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–
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10,800
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Provision for Directors's fees not yet paid
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2,400
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–
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Rent
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6,174
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6,072
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Rates and water
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82
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182
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Light and heat
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347
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601
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Insurance
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2,264
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2,567
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Motor expenses
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1,564
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1,617
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Telephone & Fax
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413
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486
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Subscriptions
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220
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215
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Printing postage and stationery
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202
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295
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Staff welfare
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482
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390
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General expenses (allowable)
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556
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255
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Laundry & Cleaning
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110
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54
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Accountancy fees
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1,300
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1,300
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Bank charges
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252
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275
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Arrangement fees
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250
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250
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--------
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--------
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16,616
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25,359
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--------
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--------
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Interest on loans and receivables
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220
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170
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----
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----
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Interest on bank loans and overdrafts
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751
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637
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----
|
----
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