IFRS For SME's Financial Statements Template
IFRS For SME's Financial Statements Template
IFRS For SME's Financial Statements Template
Company Limited
Consolidated statement of comprehensive income and retained earnings
for the year ended 30 April 2010
2010
Revenue 6,863,545
Cost of Sales -5,178,530
Gross Profit 1,685,015
Other income 88,850
Distribution costs -175,550
Administrative expenses -810,230
Other expenses -106,763
Finance costs -26,366
Profit before tax 654,956
Income tax expense -270,250
Profit for the year 384,706
Retained earnings at start of year 2,171,353
Dividends -150,000
Retained earnings at end of year 2,406,059
Page 1
Earnings by function
2009
5,808,653
-4,422,575
1,386,078
25,000
-156,800
-660,389
-100,030
-36,712
457,147
-189,559
267,588
2,003,765
-100,000
2,171,353
Page 2
Earnings by nature
Company Limited
Consolidated statement of comprehensive income and retained earnings
for the year ended 30 April 2010
2010
Revenue 6,863,545
Other income 88,850
Changes in inventories of finished goods and work in progress 3,310
Raw material and consumables used -4,786,488
Employee salaries and benefits -936,142
Depreciation and amortisation expense -272,060
Impairment of property, plant and equipment -30,000
Other expenses -249,693
Finance costs -26,366
Profit before tax 654,956
Income tax expense -270,250
Profit for the year 384,706
Retained earnings at start of year 2,171,353
Dividends -150,000
Retained earnings at end of year 2,406,059
Page 3
Earnings by nature
2009
5,808,653
25,000
-1,360
-4,003,235
-879,900
-221,247
0
-234,052
-36,712
457,147
-189,559
267,588
2,003,765
-100,000
2,171,353
Page 4
Financial position
Company Limited
Consolidated statement of financial position
at 30 April 2010
2010 2009
ASSETS
Current assets
Cash 28,700 22,075
Trade and other receivables 585,548 573,862
Invetories 57,381 47,920
671,629 643,857
Non-current assets
Investment in associate 107,500 107,500
Property, plant and equipment 2,549,945 2,401,455
Intangible assets 850 2,550
Deferred tax asset 4,309 2,912
2,662,604 2,514,417
Total Assets 3,334,233 3,158,274
LIABILITIES AND EQUITY
Current liabilities
Bank overdraft 83,600 115,507
Trade payables 431,480 420,520
Interest payable 2,000 1,200
Current tax liability 271,647 190,316
Provision for warranty obligations 4,200 5,040
Current portion of employee benefit obligations 4,944 4,754
Current portion of obligations under finance leases 21,461 19,884
819,332 757,221
Page 5
Financial Position _cont
Company Limited
Consolidated statement of financial position
at 30 April 2010
2010 2009
Non-current liabilities
Bank loan 50,000 150,000
Long-term employee benefit obligations 5,679 5,076
Obligations under finance leases 23,163 44,624
78,842 199,700
Total liabilities 898,174 956,921
Equity
Share capital 30000 30000
Retained earnings 2406059 2171353
2436059 2201353
Total liabilites and equity 3,334,233 3,158,274
Page 6
Cash Flow
Company Limited
Consolidated statement of financial position
at 30 April 2010
2010 2009
Cash flows from operating activities
Profit for the year 384,706 267,588
Adjustments for non-cash income and expenses:
Non-cash finance costs 800 1,200
Non-cash income tax expense 79,934 16,348
Depreciation of property, plant and equipment 270,360 219,547
Impairment loss 30,000 -
Amortisation of intangibles 1,700 1,700
Cash flow included in investing activities:
Gain on sale of equipment -63,850 -
Changes in operating assets and liabilities
Decrease (increase) in trade and other receivables -11,686 -52,628
Decrease/(increase) in inventories -9,461 -2,870
Decrease/(increase) in trade payables 10,120 10,870
Increase in current and long-term employee
benefit payable 793 193
Net cash from operating activities 693,416 461,948
Cash flow from investing activities
Proceeds from sale of equipment 100,000 -
Purchases of equipment -485,000 -435,000
Net cash used in investing activities -385,000 -435,000
Cash flows from financing activities
Payment of finance lease liabilities -19,884 -18,423
Repayment of borrowings -100,000 -
Dividends paid -150,000 -100,000
Net cash used in financing activities -269,884 -118,423
Net increase/(decrease) in cash and cash equivalents 38,532 -91,475
Cash and cash equivalents at beginning of year -93,432 -1,957
Cash and cash equivalents at end of year -54,900 -93,432
Page 7
Notes P_L
Revenue 2010
-5,688,653
-120,000
-5,808,653
2,009
30,135
6,577
36,712
2,009
4,425,445
22,778
7,340
Page 9
Notes Current assets
10. Trade and other receivables
Trade debtors
Prepayments
11. Inventories
Raw materials
Work in progress
Finished goods
Page 10
Notes Current assets
2010 2009
528,788 528,384
56,760 45,478
585,548 573,862
2,010 2,009
42,601 36,450
1,140 900
13,640 10,570
57,381 47,920
Page 11
Notes Tangible assets
13. Property, pland and equipment
Land and
buildings
Cost
1 January 2010 1,960,000
Additions
Disposals
31 December 2010 1,960,000
Accumulated depreciation and impairment
1 January 2010 -390,000
Annual depreciation -30,000
Impairment
Less accumulated depreciation on disposals
31 December 2010 -420,000
Carrying amount 31 December 2010 1,540,000
Carrying amount 31 December 2009 1,570,000
Page 12
Notes Tangible assets
Fixtures and
equipment Total
1,102,045 3,062,045
485,000 485,000
-241,000 -241,000
1,346,045 3,306,045
-270,590 -660,590
-240,360 -270,360
-30,000 -30,000
204,850 204,850
-336,100 -756,100
1,009,945 2,549,945
831,455 2,401,455
Page 13
Notes Intangible assets
14. Intangible Assets
Patents & trademarks:
Cost
1 January 2010
Additions
Disposals
31 December 2010
Accumulated depreciation and impairment
1 January 2010
Annual amortisation
31 December 2010
Carrying amount 31 December 2010
Carrying amount 31 December 2009
12. Investment in associate
Cost of investment in associate
Dividend received from associate
Page 14
Notes Intangible assets
Patents &
Trademarks
8,500
8,500
-5,950
-1,700
-7,650
850
2,550
2,010 2,009
107,500 107,500
-25,000 -25,000
Page 15
Notes cash _ equity
16. Bank overdraft and loan
Bank overdraft
Bank loan
22. Share capital
Authorised share capital
1000 ordinary shares at 1 par value
Issued share capital
100 ordiary shares at 1 par value fully paid, issued and outstanding
23. Cash and cash equivalents
Cash on hand
Overdrafts
Page 16
Notes cash _ equity
2010 2009
-83,600 -115,507
-50,000 -150,000
-133,600 -265,507
2010 2009
1,000 1,000
2010 2009
28,700 22,075
-83,600 -115,507
-54,900 -93,432
Page 17
Notes provisions
18. Provision for warranty obligations 2010
5178530
810230
31620
1000
-936142
-298750
Page 25
TB
107500
2155
18478
45050
521234
20435
412690
0
173211
2000
4571
18423
150000
5066
64508
30000
Page 26
Workings
W1 Raw materials and conumables used 2010 2009
Opening inventory 47,920 45,050
Purchases 5,182,731 4,418,105
Warranty expense 5,260 7,340
Closing inventory -57,381 -47,920
Administrative expenses 810,230 660,389
Research & development 31,620 22,778
Foreign exchange loss 1,000 -
Changes in inventories of finished goods and work in progress 3,310 -1,360
Depreciation and amortisation expense -272,060 -221,247
Impairment of property, plant and equipment -30,000 -
Employee salaries and benefits -936,142 -879,900
4,786,488 4,003,235
W2 Other expenses
Distribution costs 175,550 156,800
Other expenses 74,143 77,252
249,693 234,052
Page 27