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Financial Statements |
Contents |
Page |
Directors' report |
1 |
Statement of income and retained earnings |
2 |
Statement of financial position |
3 |
Notes to the financial statements |
5 |
Detailed income statement |
10 |
Notes to the detailed income statement |
11 |
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Directors' Report |
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Director |
Registered office: |
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Scotland |
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Statement of Income and Retained Earnings |
2018 |
2017 |
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Note |
£ |
£ |
Turnover |
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Cost of sales |
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-------- |
-------- |
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Gross profit |
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Administrative expenses |
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-------- |
-------- |
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Operating loss |
(
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(
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Interest payable and similar expenses |
– |
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-------- |
-------- |
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Loss before taxation |
5 |
(
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(
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Tax on loss |
– |
– |
-------- |
------- |
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Loss for the financial year and total comprehensive income |
(
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(
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-------- |
------- |
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Dividends paid and payable |
– |
(
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Retained (losses)/earnings at the start of the year |
(
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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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Statement of Financial Position |
2018 |
2017 |
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Note |
£ |
£ |
£ |
Tangible assets |
6 |
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Stocks |
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Debtors |
7 |
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-------- |
-------- |
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Creditors: amounts falling due within one year |
8 |
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-------- |
-------- |
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Net current assets/(liabilities) |
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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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Creditors: amounts falling due after more than one year |
9 |
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– |
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-------- |
------- |
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Net liabilities |
(
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(
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-------- |
------- |
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Called up share capital |
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Profit and loss account |
(
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(
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-------- |
------- |
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Members deficit |
(
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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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Notes to the Financial Statements |
- |
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2018 |
2017 |
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£ |
£ |
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Depreciation of tangible assets |
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------- |
------- |
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Motor vehicles |
Total |
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£ |
£ |
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Cost |
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At 1 April 2017 and 31 March 2018 |
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-------- |
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Depreciation |
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At 1 April 2017 |
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Charge for the year |
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-------- |
-------- |
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At 31 March 2018 |
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Carrying amount |
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At 31 March 2018 |
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-------- |
-------- |
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At 31 March 2017 |
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-------- |
-------- |
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2018 |
2017 |
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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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2018 |
2017 |
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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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Other creditors |
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-------- |
-------- |
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-------- |
-------- |
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2018 |
2017 |
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£ |
£ |
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Bank loans and overdrafts |
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– |
-------- |
---- |
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Management Information |
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Detailed Income Statement |
2018 |
2017 |
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£ |
£ |
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Turnover |
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Opening stock - finished goods |
31,400 |
28,850 |
Purchases |
52,494 |
38,573 |
Directors salaries |
21,500 |
11,347 |
Depreciation of tangible assets |
4,281 |
5,708 |
--------- |
-------- |
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109,675 |
84,478 |
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Closing stock - resale - type 5 |
30,225 |
31,400 |
--------- |
-------- |
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79,450 |
53,078 |
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-------- |
-------- |
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Gross profit |
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Administrative expenses |
24,105 |
18,077 |
-------- |
-------- |
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Operating loss |
(
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(
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Interest payable and similar expenses |
– |
(941) |
-------- |
------- |
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Loss before taxation |
(12,164) |
(2,380) |
-------- |
------- |
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Notes to the Detailed Income Statement |
2018 |
2017 |
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£ |
£ |
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Rent rates and water |
4,677 |
3,874 |
Light and heat |
69 |
699 |
Insurance |
680 |
1,099 |
Repairs and maintenance (allowable) |
4,767 |
710 |
Motor expenses |
5,424 |
2,515 |
Travel and subsistence |
158 |
– |
Telephone |
1,189 |
935 |
Printing postage and stationery |
1,934 |
405 |
General expenses (allowable) |
266 |
269 |
Advertising |
(51) |
796 |
Legal and professional fees (allowable) |
424 |
933 |
Accountancy fees |
960 |
960 |
(Gain)/loss on disposal of tangible assets |
– |
717 |
Bad debts written off |
– |
2,569 |
Bank charges |
3,608 |
1,596 |
-------- |
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24,105 |
18,077 |
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-------- |
-------- |
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Interest on hire purchase and finance lease contracts |
– |
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