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Financial Statements
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Contents
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Page
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Director's 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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10
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Notes to the detailed income statement
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11
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Director's Report
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Director
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Company Secretary
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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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Gross profit
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Distribution costs
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Administrative expenses
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Operating profit
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Interest payable and similar expenses
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Profit before taxation
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5
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Tax on profit
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Profit for the financial year and total comprehensive income
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Dividends paid and payable
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(
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(
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Retained earnings at the start of the year
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Retained earnings at the end of the year
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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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Tangible assets
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6
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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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Creditors: amounts falling due within one year
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8
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Net current assets
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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9
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Net assets
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Called up share capital
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Profit and loss account
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Members funds
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Statement of Financial Position (continued)
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Director
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Notes to the Financial Statements
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Fixtures and Fittings
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-
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Motor Vehicles
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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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Depreciation of tangible assets
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--------
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--------
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Fixtures and fittings
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Motor vehicles
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Total
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£
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£
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£
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Cost
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At 1 May 2016
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Additions
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–
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Disposals
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(
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(
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(
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--------
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At 30 April 2017
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Depreciation
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At 1 May 2016
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Charge for the year
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Disposals
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(
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(
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(
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--------
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At 30 April 2017
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--------
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Carrying amount
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At 30 April 2017
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--------
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At 30 April 2016
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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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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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Social security and other taxes
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Other creditors
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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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–
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Other creditors
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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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2,500
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3,000
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Purchases
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714,175
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802,648
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Wages and salaries
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240,067
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315,973
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Subcontractor costs
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2,651
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60,398
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Hire costs (non-operating leases)
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1,869
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4,015
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961,262
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1,186,034
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Closing stock
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2,000
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2,500
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959,262
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1,183,534
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Gross profit
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Distribution costs
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51,457
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53,769
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Administrative expenses
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193,709
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264,388
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---------
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245,166
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318,157
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Operating profit
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Interest payable and similar expenses
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(5,886)
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(18,115)
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Profit before taxation
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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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Motor, Travelling and Subsistance
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51,457
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51,944
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Vehicle Hire
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–
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1,825
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--------
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51,457
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53,769
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--------
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Directors salaries
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19,375
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24,620
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Health care
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1,389
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1,271
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Directors pensions
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–
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20,000
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Wages and salaries
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57,375
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76,658
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Staff pension contributions - defined contribution
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779
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–
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Rent rates and water
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9,600
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8,037
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Light and heat
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–
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198
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Insurance
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12,019
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13,919
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Hire costs (non-operating leases)
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4,686
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5,151
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Telephone
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8,413
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9,787
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Equipment repairs and renewals
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5,975
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1,615
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Printing postage and stationery
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1,919
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3,650
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Staff training
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478
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4,458
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Staff welfare
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325
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–
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Bookkeeping
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3,648
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4,395
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Computer Costs
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2,313
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8,033
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Subscriptions
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4,732
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8,404
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Uniform
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627
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1,053
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General expenses
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1,845
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2,036
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Advertising
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–
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509
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Entertaining
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2,148
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725
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Legal and professional fees (allowable)
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1,838
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–
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Accountancy fees
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1,600
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1,400
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Depreciation of tangible assets
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32,484
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38,376
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(Gain)/loss on disposal of tangible assets
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61
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(1,606)
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Bad debts written off
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18,884
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9,900
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Factoring charges
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–
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9,489
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Bank charges
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1,196
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12,310
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---------
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193,709
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264,388
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---------
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Interest on bank loans and overdrafts
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–
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9,051
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Hire purchase
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Factor Interest
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–
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3,520
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5,886
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18,115
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