| Lightshire plc | Income Statement for the year ended 31 December Year 9 | ||
| . | |||
| Sales | 1,715 | ||
| Less: Cost of Sales | |||
| Add: Opening Inventory | 110 | ||
| Add: Purchases | 852 | ||
| Add: Carriage Inwards | 3 | ||
| Add: Warehouse Wages | 161 | ||
| Goods Available for Sale | 1,126 | ||
| Less: Closing Inventory | 51 | ||
| Cost of Sales | 1,075 | ||
| . | |||
| Gross Profit | 640 | ||
| . | |||
| Less: Expenses | |||
| General Office Salaries | 161 | ||
| Carriage Outwards | 2 | ||
| Warehouse Expenses | 5 | ||
| Selling Expenses | 18 | ||
| Insurance | 28 | ||
| Bad Debts | 4 | ||
| Increase in Provision for Doubtful Debts | 2 | ||
| Preliminary Expenses Written Off | 5 | ||
| Depreciation on Vehicles (25%) | 80 | ||
| Debenture Interest | 4 | ||
| Total Expenses | 309 | ||
| . | |||
| Profit before Tax | 331 | ||
| Less: Corporation Tax (25%) | 57 | ||
| Profit for the Year | 274 |
| Lightshire plc | Appropriation Account for the year ended 31 December Year 9 | ||
| . | |||
| Profit for the Year | 274 | ||
| Add: Balance b/f (Unappropriated Profit 1 Jan Year 9) | 51 | ||
| . | |||
| Profit Available for Appropriation | 325 | ||
| . | |||
| Less: Ordinary Dividend | 180 | ||
| Less: Transfer to General Reserve | 30 | ||
| Total Appropriations | 210 | ||
| . | |||
| Balance c/f (Unappropriated Profit 31 Dec Year 9) | 115 |
| Lightshire plc | Statement of Financial Position as at 31 December Year 9 | ||
| . | |||
| ASSETS | |||
| Non-Current Assets | |||
| Buildings (Cost 1000 – Depn 100) | 900 | ||
| Vehicles (Cost 372 – Depn 93) | 279 | ||
| Total Non-Current Assets | 1,179 | ||
| . | |||
| Current Assets | |||
| Inventory | 51 | ||
| Trade Receivables (200 – Prov. 10) | 190 | ||
| Prepaid Insurance | 7 | ||
| Cash at Bank | 20 | ||
| Total Current Assets | 268 | ||
| . | |||
| Total Assets | 1,447 | ||
| . | |||
| EQUITY AND LIABILITIES | |||
| Capital and Reserves | |||
| Ordinary Share Capital | 800 | ||
| Share Premium | 100 | ||
| General Reserve | 80 | ||
| Unappropriated Profit c/f | 115 | ||
| Total Equity | 1,095 | ||
| . | |||
| Non-Current Liabilities | |||
| 8% Debentures | 50 | ||
| . | |||
| Current Liabilities | |||
| Trade Payables | 245 | ||
| Corporation Tax Payable | 57 | ||
| Total Current Liabilities | 302 | ||
| . | |||
| Total Equity and Liabilities | 1,447 |