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Sessegnon Ltd Income Statement for the year ended 31 December 2011
£000s
Sales
1,690
Cost of Sales
1,252
Gross Profit
438
Admin expenses
144
Depreciation
170
Loss on sale of machinery
60
374
Operating Profit
64
Interest payable
32
Profit Before Tax
Tax
10
Profit After Tax
22
Sessegnon Ltd Balance Sheet as at 31 December 2011
2011
2010
Non-Current Assets NBV
4500
3274
Current Assets
Inventory
136
148
Receivables
160
190
Cash at Bank
-
296
180
518
Total Assets
4796
3792
Non-Current Liabilities
Bank Loan
1500
640
Current Liabilities
Trade Payables
192
155
Taxation
15
Interest Payable
7
Bank Overdraft
115 332
- 222
Total Liabilities
1832
862
Net Assets
2964
2930
Equity
Share Capital
1000
950
Share Premium Account
30
20
Retained Earnings
1934
1960
Notes
1. Dividends were paid during the year
2. The assets disposed of had a book value of £260,000
Question
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