| |
Solution 14.4 – Zebra Ltd
Trading,
Profit & Loss, Appropriation A/C year ended 31/8/04
|
|
€’000 |
€’000 |
€’000 |
|
Sales |
|
3,700 |
|
|
-
Returns In |
|
(18) |
3,682 |
|
Less cost
of sales |
|
|
|
|
Opening
stock |
|
180 |
|
|
Purchases |
1,860 |
|
|
|
+ Carriage
In |
22 |
|
|
|
- Returns
Out |
(26) |
1,856 |
|
|
Closing
stock |
|
(162) |
|
|
Cost
of goods sold |
|
|
(1,874) |
|
GROSS
PROFIT |
|
|
1,808 |
|
Add gains
or other income |
|
|
|
|
Rent received |
|
38 |
|
|
Discount
received |
|
27 |
65 |
|
Less expenses |
|
|
|
|
Administration
costs |
715 |
|
|
|
+ Due |
4 |
719 |
|
|
Sales &
Distribution costs |
475 |
|
|
|
- Prepayment |
(8) |
467 |
|
|
Discount
allowed |
|
38 |
|
|
Carriage
out |
|
13 |
|
|
Annual deprec
- premises (1500 x 2%) |
|
30 |
|
|
Annual deprec
- vehicles (700 x 10%) |
|
70 |
|
|
Annual deprec
- F&E (450 x 20%) |
|
90 |
(1,427) |
|
NET
OPERATING PROFIT |
|
|
446 |
|
Less Debenture
Interest paid |
|
18 |
|
|
Debenture Interest due |
|
9 |
(27) |
|
Net
Profit before tax |
|
|
419 |
|
Less Corporation
tax |
|
|
0 |
|
Net
Profit after Interest and Tax |
|
|
419 |
|
APPROPRIATIONS: |
|
|
|
|
Transfer
to reserves |
|
|
(32) |
|
Dividend
policy |
|
|
|
|
Interim
ordinary dividend paid |
|
15 |
|
|
Proposed
final ordinary dividend (300,000 x .30) |
90 |
|
|
Preference
share dividend provided for (350 x10%) |
35 |
(140) |
|
Retained
profit for the year |
|
|
247 |
|
+ Retained
profit b/f |
|
|
83 |
|
= Retained
profit c/f |
|
|
330 |
Balance
sheet as at 31/8/04
|
|
€’000 |
€’000 |
€’000 |
|
Fixed assets |
Cost |
Accum.
Deprec. |
NBV |
|
Premises |
1,500 |
(120) |
1,380 |
|
Vehicles |
980 |
(350) |
630 |
|
Furniture
& equipment |
450 |
(200) |
250 |
|
|
2,930 |
(670) |
2,260 |
|
Current
assets |
|
|
|
|
Closing
stock |
|
162 |
|
|
Prepaid
- dist costs |
|
8 |
|
|
Bank |
|
30 |
|
|
Debtors |
|
300 |
|
|
|
|
500 |
|
|
Current
liabilities |
|
|
|
|
Accrual
- admin due |
4 |
|
|
|
Creditors |
155 |
|
|
|
Debenture
interest due |
9 |
|
|
|
Proposed
final ordinary dividend |
90 |
|
|
|
Preference
share dividend |
35 |
(293) |
207 |
|
|
|
|
|
|
Long term
liabilities |
|
|
|
|
12%
Debenture loan |
|
|
(225) |
|
|
|
|
2,242 |
|
|
|
|
|
|
Capital
and Reserves |
|
|
|
|
Ordinary share capital (300,000 @ €5) |
|
|
1,500 |
|
10% Preference share capital |
|
|
350 |
|
General reserve (30,000 + 32,000) |
|
|
62 |
|
P &
L reserve |
|
|
330 |
|
|
|
|
2,242 |
|