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    BR - Q8 - Financial-information-for-Company-A

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    chiaraferragni
    Company A saw an increase in total assets from £6.2 million to £7.2 million in 20x1 due to growth in non-current assets like property, plant, and equipment and current assets such as inventories and trade receivables. Total equity grew from £3.6 million to £3.8 million as a result of retained earnings of £76,000, while non-current liabilities increased due to higher loans outstanding. The company reported an operating profit of £362,000 for the year after deducting depreciation expenses of £277,000.

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    BR - Q8 - Financial-information-for-Company-A

    Uploaded by

    chiaraferragni
    13 views1 page
    Company A saw an increase in total assets from £6.2 million to £7.2 million in 20x1 due to growth in non-current assets like property, plant, and equipment and current assets such as inventories and trade receivables. Total equity grew from £3.6 million to £3.8 million as a result of retained earnings of £76,000, while non-current liabilities increased due to higher loans outstanding. The company reported an operating profit of £362,000 for the year after deducting depreciation expenses of £277,000.

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    Company A saw an increase in total assets from £6.2 million to £7.2 million in 20x1 due to growth in non-current assets like property, plant, and equipment and current assets such as inventories and trade receivables. Total equity grew from £3.6 million to £3.8 million as a result of retained earnings of £76,000, while non-current liabilities increased due to higher loans outstanding. The company reported an operating profit of £362,000 for the year after deducting depreciation expenses of £277,000.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    13 views1 page

    BR - Q8 - Financial-information-for-Company-A

    Uploaded by

    chiaraferragni
    Company A saw an increase in total assets from £6.2 million to £7.2 million in 20x1 due to growth in non-current assets like property, plant, and equipment and current assets such as inventories and trade receivables. Total equity grew from £3.6 million to £3.8 million as a result of retained earnings of £76,000, while non-current liabilities increased due to higher loans outstanding. The company reported an operating profit of £362,000 for the year after deducting depreciation expenses of £277,000.

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    Financial information for Company A

    The following information is provided for Company A

    Statement of financial position as at 31 December 20X1

    Notes 20x1 20x0


    £000 £000
    Non current assets
    Property, plant and
    5 133 4 730
    equipment
    Current assets
    Inventories 772 513
    Trade receivables 1 002 770
    Cash 323 199
    Total current assets 2 097 1 482
    Total assets 7 230 6 212

    Equity and liabilities


    Share capital 2 000 1 500
    Share premium 200 150
    Revaluation reserve 220 220
    Retained earnings 1 374 1 751
    Total equity 3 794 3 621
    Non current liabilities
    Loans 3 056 2 078
    Current liabilities
    Trade payables 207 376
    Income tax payable 173 137
    Total equity and liabilities 7 230 6 212

    Statement of profit or loss for the year ended 31 December 20x1


    Notes £000
    Operating profit (1) 362
    Finance income 9
    Finance costs (122)
    Profit before tax 249
    Income tax (173)
    Profit for the year 76

    Notes
    (1) Depreciation expense included for the year was £277 000.

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