ABSTRACT
Profit and loss account for the year ended 30 June 2005 2004
£’000 £’000 Turnover (sales) 1 200 1 000 Cost of sales 800 700 Gross profit 400 300 Administrative expenses 238 195 Operating profit 162 105 Loan interest 22 15 Profit before tax 140 90 Tax 50 30 Profit after tax 90 60
Balance sheet at 30 June 2005 2004 £’000 £’000
Fixed assets Factory and machinery at cost 350 300 Less: Accumulated depreciation 140 100
210 200 Current assets
Stock 350 290 Debtors 200 150 Cash 40 60
590 500 Less: Creditors due within one year 250 200
(current liabilities) 340 300
Total assets less current liabilities 550 500
Less: Creditors due after one year Long-term loan 100 100
Capital and reserves Called up £1 share capital 300 300 Profit and loss account* 150* 100
450 400
* Dividend of 40 paid in 2005 (30 in 2004)
