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Copyright: www.innovateur.co.uk 2003 do not copy - more copies available free to download directly from innovateur.co.uk
Version.0.3.4
INPUT FINANCIAL INFORMATION (click): A B C D STARTING POSITION SALES / COST OF SALES / DISTRIBUTION OPERATING EXPENSES FINANCE / LOANS / INVESTMENTS VIEW ACCOUNTS / PRINT (click): CASH FLOW PROFIT & LOSS ACCOUNT BALANCE SHEET For support e-mail us : freeware@innovateur.co.uk 1. INSERT Company Name 2. Insert Months - or LEAVE 3. Insert Years - or LEAVE 4. INSERT DATA in A, B, C, D GLOSSARY OF TERMS VIEW GRAPHS / PRINT (click): SALES & PROFIT CASH BALANCE KEY RATIOS
Inputs Outputs Used Insert Months (three characters) if Wanted - Or Leave Month 1 (e.g Mar) 1 1 Month Month 2 2 2 Month Month 3 3 3 Month Month 4 4 4 Month Month 5 5 5 Month Month 6 6 6 Month Month 7 7 7 Month Month 8 8 8 Month Month 9 9 9 Month Month 10 10 10 Month Month 11 11 11 Month Month 12 12 12 Month Year 1 (e.g 2003) Year 2 Year 3 Year 1 Year 2 Year 3 Year 1 Year Year 2 Year Year 3 Year
This Freeware is provided in goodfaith - innovateur accepts no liability whatever and by downloading it and using it you agree to this.
BALANCE SHOULD BE NIL= You can adjust the profit to ensure above figures match 1. INSERT DATA for 1. through 4. 2. THE BALANCE IN THE SUMMARY TABLE MUST BE ZERO - IF YOUR ENTRIES DO NOT BALANCE TO ZERO AFTER COMPLETING ALL ENTRIES WE SUGGEST YOU ADJUST THE PROFIT FROM ACTIVITIES SO FAR TO BALANCE THE FIGURES
1. CURRENT ASSETS Bank Cash Balance Opening Stocks [exc VAT] Trade Debtors [Inc VAT] All Excluding VAT IT / Office Equipment Plant & Machines Intangible Assets [Development] Other Fixed Assets FIXED ASSET COST ANY DEPRECIATION
2. FIXED ASSETS
0 3. CURRENT LIABILITIES Creditors & Accruals [Inc VAT] VAT Creditor (-Debtor) 4. FINANCED BY SAHREHOLDERS FUNDS AND LOANS: SHAREHOLDER INVESTMENT LOANS FROM DIRECTORS LONG TERM LOANS PROFIT / (-LOSS RESERVE) [form activities so far]
<< Back to Master INSERT SALES DATA INSERT COST OF SALES INSERT DISTRIBUTION COST
INPUT SHEET FOR :: SALES / COST OF SALES / S & DISTRIBUTION SUMMARY Year 1 Year 2 Year 3 SALES (exc VAT) Net SALES RECEIPTS DEBTORS (inc VAT) 7,500,000 7,500,000 -
2(A). - EITHER : Insert a PERCENTAGE Increase in Annual Sales for Year 2 and Year 3 in the corresponding % white boxes
0%
0%
Year 1
SALES (Including VAT) Payment RECEIVED (IncVAT) SALES DEBTORS (inc VAT)
- NET Sales / Month Opening Debtors Net of VAT - NET Sales Receipts - Debtors (inc VAT)
7,500,000 7,500,000 -
SALES (Including VAT) Payment RECEIVED (IncVAT) SALES DEBTORS (inc VAT)
this is the ammount you enetered in the opening position 1,000,000 750,000 750,000 750,000 750,000 -
Year 1 51%
Year 2
Year 3
Year 2 -
Year 3 -
COST OF SALES
Year 1
51%
Year 2
0%
Year 3
0%
COST OF SALES Year 1 Year 2 3,825,000 8 255,000 255,000 382,500 127,500 9 255,000 255,000 306,000 51,000 10 255,000 255,000 255,000 11 255,000 255,000 255,000 12 204,000 204,000 255,000 51,000 -
COST OF SALES
Material OPENING STOCK POSITION STOCK PURCHASES (INSERT VALUES) NET PAYMENTS (Also for any OPENING CREDITORS) INCREASE/(DECREASE) TO NET CREDITORS
Material OPENING STOCK POSITION STOCK PURCHASES (INSERT VALUES) NET PAYMENTS (Also for any OPENING CREDITORS) INCREASE/(DECREASE) TO NET CREDITORS
510,000
382,500
382,500 -
CLOSING STOCK
CLOSING STOCK
Year 1
Year 2
Year 3
Year 1 -
Year 2 -
1. Insert SALES & DISTRIBUTION Cost PERCENTAGE (as a % of Sales net of VAT) SUB-CONTRACT PAYOUTS Year 1 0% Year 2 0%
Year 3
0%
SUB-CONTRACT PAYOUTS
Year 1
1 2 -
Year 2 3 -
4 5
Year 3 6 -
7 8 9 10 11 12
SUB-CONTRACT PAYOUTS
SUB-CONTRACT PAYOUTS SUB-CONTRACT PAYMENT INCL. SERVICE TAX INCREASE / (DECREASE) IN NET CREDITORS
END
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INPUT SHEET FOR :: OPERATING EXPENSES SUMMARY Net Expenses Net Payments YearEnd Net Creditor Year 1 3,000,000 2,895,833 104,167 Year 2 104,167 Year 3 104,167
<<Back
Next >> SUMMARY/MONTH Monthly Expenses Monthly Payments Year 1 250,000 241,319 Year 2 Year 3 -
ADMINISTRATIVE EXPENSES
SUMMARY/MONTH
Year 1
Year 2 10%
Year 3 10%
1. Insert 1st year Total Expense data in the "Year 1" box - OR Individually month by month
2(A). - EITHER : Insert a PERCENTAGE Increase in Annual Sales for Year 2 and Year 3 in the corresponding % white boxes 2(B). - OR : Insert Total Annual EXPENSES for Year 2 and Year 3 in the corresponding white boxes 3. Insert VAT (Or GST in USA) Rate - This is currently set at UK level Application development (Engineering) Year 1 1,000,000 Year 2 Increase by % OR 2 Year 2 3 (GST in US) VAT Rate on COSTS 17.50% MASTER ENTRY 17.50% Change if Different - or leave the same Application development (Engineering) Application development (Engineering) Year 1 Year 2 Year 3 1,000,000 7 8 9 10 11 12 1,000,000 1,000,000 1,000,000 750,000 Year 2 Increase by % Year 2 2 62,500 62,500 3 62,500 62,500 Year 2 Increase by % Year 2 2 62,500 62,500 62,500 Year 1 500,000 62,500 3 62,500 62,500 62,500 Year 3 Increase by % Year 3 5 62,500 62,500 6 62,500 62,500 Year 3 Increase by % Year 3 5 62,500 62,500 62,500 6 62,500 62,500 62,500 10% 7 62,500 62,500 10% 7 62,500 62,500 62,500 10% 6 7 8 9 10 11 12 Year 1 500,000 Year 2 Increase by % Year 2 2 41,667 41,667 41,667 Year 1 500,000 41,667 3 41,667 41,667 41,667 Year 3 Increase by % Year 3 5 41,667 41,667 41,667 6 41,667 41,667 41,667 10% 7 41,667 41,667 41,667 10% 6 7 8 9 10 11 12 Expenses Payments Creditors 8 41,667 41,667 41,667 9 41,667 41,667 41,667 10 41,667 41,667 41,667 11 41,667 41,667 41,667 12 41,667 41,667 41,667 Expenses Payments Creditors 8 62,500 62,500 62,500 9 62,500 62,500 62,500 10 62,500 62,500 62,500 11 62,500 62,500 62,500 12 62,500 62,500 62,500 8 62,500 62,500 9 62,500 62,500 10 62,500 62,500 11 62,500 62,500 12 62,500 62,500 1,000,000 Expenses Payments NET Creditors VAT RATE ON SALES Year 3 Increase by % 10% Year 3 4 5 6 -
10% -
Year 1
1,000,000 1 1,000,000
Application development (Engineering) - Expenses / Month Application development (Engineering) - Payments (Exc VAT) Application development (Engineering) - Creditors (Exc VAT) Consultancy (Expert Opinion) Year 1
/ Year
Year 1
Consultancy (Expert Opinion) Consultancy (Expert Opinion) Consultancy (Expert Opinion) Technology (Parametric)
750,000 750,000 -
750,000
Technology (Parametric)
Technology (Parametric)
/ Year
Year 1
750,000 1 62,500
62,500
62,500
10% -
Design (Engineering)
Year 3 -
Design (Engineering)
/ Year
Year 1
1 2
Reference 1 (Analogy)
Year 3 -
Reference 1 (Analogy)
/ Year
Year 1
500,000 1 41,667
41,667
41,667
10% -
Reference 2 ( anology)
Year 3 -
Reference 2 ( anology)
/ Year
Year 1
1 2
Account Head 7
Year 1
10% 4 -
10% 7 10% 8 9
Account Head 7
Year 3 -
Account Head 7
/ Year
Year 1
10 Account Head 8
11 -
12 -
10% 4 -
Year 3 -
Account Head 8
/ Year
Year 1
5 -
6 -
7 -
8 -
10 Account Head 9
11 -
12 -
10% 4
10% 7 8 9
Year 3 -
Account Head 9
/ Year
Year 1
10
11
- Expenses / Month - Payments (Exc VAT) - Creditors Year 1 Year 2 Increase by % 1 2 Year 2 3 Year 3 Increase by % Year 3 4 5 6 10% 7 8 9 10 11 12 Account Head 10 -
10% -
Year 3 -
Account Head 10
/ Year
Year 1
- Expenses / Month - Payments (Exc VAT) - Creditors Year 1 Year 2 Increase by % 1 2 Year 1 Year 2 Increase by % 1 2 Year 2 3 Year 2 3 Year 3 Increase by % Year 3 4 5 Year 3 Increase by % Year 3 4 5 6 6 10% 7 8 9 10 11 12 10% 7 8 9 10 Account Head 12 11 12 Account Head 11 -
10% -
Year 3 -
Account Head 11
/ Year
Year 1
10% -
Year 3 -
Account Head 12
/ Year
Year 1
- Expenses / Month - Payments (Exc VAT) - Creditors Year 1 Year 2 Increase by % 1 2 Year 1 Year 2 Increase by % Year 2 3 10% Year 3 Increase by % Year 3 4 5 Year 3 Increase by % 6 10% 10% 7 8 9 10 Account Head 14 11 12 Account Head 13 -
10% -
Year 3 -
Account Head 13
/ Year
Year 1
Year 3
Account Head 14
/ Year
Year 1
1 2
Year 2 3
4 5
Year 3 6
7 8 9 10 11 12
- Expenses / Month - Payments (Exc VAT) - Creditors Year 1 Year 2 Increase by % 1 2 Year 2 3 10% 4 5 Year 3 Increase by % Year 3 6 10% 7 8 9 10 11 12 Account Head 15 -
Year 3 -
Account Head 15
/ Year
Year 1
- Expenses / Month - Payments (Exc VAT) - Creditors Year 1 Year 2 Increase by % 1 2 Year 1 Year 2 Increase by % 1 2 Year 1 Year 2 Increase by % 1 2 Year 2 3 Year 2 3 10% 4 5 Year 2 3 10% 4 5 Year 3 Increase by % Year 3 6 10% 4 5 Year 3 Increase by % Year 3 6 10% 7 8 9 10 11 12 Year 3 Increase by % Year 3 6 10% 7 8 9 10 Account Head 18 11 12 10% 7 8 9 10 Account Head 17 11 12 Account Head 16 -
Year 3 -
Account Head 16
/ Year
Year 1
Year 3 -
Account Head 17
/ Year
Year 1
Year 3 -
Account Head 18
/ Year
Year 1
Year 3 -
Account Head 19
END
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<< Back to Master EQUITY RECEIVED LOANS DIRECTOR LOANS FIXED ASSETS EQUITY INVESTMENT
INPUT SHEET FOR :: FINANCE / LOANS / FIXED ASSETS LOAN INTEREST RATE: OVERDRAFT INTEREST RATE: INTEREST RATE ON CASH SURPLUS: 12%
<<Back
DIRECTOR LOANS
Month Month Month Month Month Month Month Month Month Month Month Month Year Year Year
PURCHASE OF FIXED ASSESTS IT / Office Equipment 1 2 3 4 Navigation around Fixed Assets OFFICE / IT PLANT & MACHINE INTANGIBLES FIXED ASSET SUMMARY OTHER FIXED DEPRECIATION RATE CASH EXPENDED IN FIXED ASSETS Year Year 1 Year Year 2 Year Year 3 CLOSING FIXED ASSETS Year Year 1 Year Year 2 Year Year 3 DEPRECIATION Year 1 Year 2 Year 3 FIXED ASSETS 1. IT / Office Equipment Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Year Year Year Year 1 Year 2 Year 3 OPENING BALANCE PLUS NEW PURCHASES 0 0 0 0 0 0 0 0 0 0 0 0 0 0 LESS DEPRECIATION CLOSING BALANCE VAT PURCHASES OPENING BALANCE DEPRECIATION 0% Reducing Balance
0%
Plant & Machines 1 2 3 4 Navigation around Fixed Assets OFFICE / IT PLANT & MACHINE INTANGIBLES OTHER FIXED FIXED ASSETS 2. Plant & Machines Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Year Year Year Year 1 Year 2 Year 3
0% PLUS NEW PURCHASES 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Reducing Balance LESS DEPRECIATION CLOSING BALANCE VAT PURCHASES -
Intangible Assets [Development] 1 2 3 4 Navigation around Fixed Assets OFFICE / IT PLANT & MACHINE INTANGIBLES OTHER FIXED FIXED ASSETS 3. Intangible Assets [Development] Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Year Year Year Year 1 Year 2 Year 3
0% PLUS NEW PURCHASES 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Reducing Balance LESS DEPRECIATION CLOSING BALANCE VAT PURCHASES -
Other Fixed Assets 1 2 3 4 Navigation around Fixed Assets OFFICE / IT PLANT & MACHINE INTANGIBLES OTHER FIXED FIXED ASSETS 4. Other Fixed Assets Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Year Year Year Year 1 Year 2 Year 3
0% PLUS NEW PURCHASES 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Reducing Balance LESS DEPRECIATION CLOSING BALANCE VAT PURCHASES -
END
/\ /\ BACK TO TOP /\ /\ TOTAL DEPRECIATION - BREAKDOWN BY MONTH & YEAR TOTAL DEPRECIATION SUMMARY Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Year Year Year Year 1 Year 2 Year 3 FIXED ASSET PURCHASES & VAT SUMMARY VAT NET GROSS Totals PURCHASESPURCHASES Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Year Year Year Year 1 Year 2 Year 3 -
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Year Year 1
Year Year 2
Year Year 3
1,000,000 510,000
750,000 382,500
750,000 382,500
750,000 382,500
750,000 382,500
600,000 306,000
500,000 255,000
500,000 255,000
500,000 255,000
500,000 255,000
500,000 255,000
400,000 204,000
7,500,000 3,825,000
Gross Profit Administrative Expenses Application development (Engineering) Consultancy (Expert Opinion) Technology (Parametric) Design (Engineering) Reference 1 (Analogy) Reference 2 ( anology) Account Head 7 Account Head 8 Account Head 9 Account Head 10 Account Head 11 Account Head 12 Account Head 13 Account Head 14 Account Head 15 Account Head 16 Account Head 17 Account Head 18 Account Head 19
490,000
367,500
367,500
367,500
367,500
294,000
245,000
245,000
245,000
245,000
245,000
196,000
3,675,000
Sales & Distribution Costs Depreciation Operating Profit (EBIT) Interest Payable Overdraft Interest (Interest Received) Loan Interest Payable Profit Before Corporation Tax Corporation Tax Net Profit / (Loss) Dividens Payable Profit to Reserves -
676,667
200,833
200,833
200,833
200,833
127,333
78,333
78,333
78,333
78,333
78,333
29,333
675,000
676,667
200,833
200,833
200,833
200,833
127,333
78,333
78,333
78,333
78,333
78,333
29,333
675,000
676,667
200,833
200,833
200,833
200,833
127,333
78,333
78,333
78,333
78,333
78,333
29,333
675,000
Opening Balance
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Year Year 1
Year Year 2
Year Year 3
Fixed Assets IT / Office Equipment Plant & Machines Intangible Assets [Development] Other Fixed Assets Current Assets Cash Trade Debtors Stock Current Liabilities Trade Creditors & Accruals VAT Creditor (Debtor) Other Creditors Net Current Assets Total Assets less Current Liabilities Long Term Creditors Long Term Loans Loans from Directors Other Creditors due after 1 year 1,896,646 1,171,083 107,479 61,396 1,789,167 676,667 676,667 1,109,688 475,833 475,833 1,620,521 46,083 1,666,604 275,000 275,000 1,470,708 92,167 1,562,875 74,167 74,167 1,470,708 138,250 1,608,958 126,667 126,667 1,380,821 33,221 1,414,042 254,000 254,000 1,231,008 57,867 1,288,875 332,333 332,333 1,081,196 82,513 1,163,708 410,667 410,667 1,021,271 24,646 1,045,917 489,000 489,000 1,021,271 49,292 1,070,563 567,333 567,333 1,021,271 73,938 1,095,208 645,667 645,667 961,346 16,071 977,417 675,000 675,000 961,346 16,071 977,417 675,000 675,000 961,346 961,346 675,000 675,000 961,346 961,346 675,000 675,000 1,112,500 1,112,500 633,854 633,854 1,391,604 1,391,604 1,488,708 1,488,708 1,735,625 1,735,625 1,668,042 1,668,042 1,621,208 1,621,208 1,574,375 1,574,375 1,534,917 1,534,917 1,637,896 1,637,896 1,740,875 1,740,875 1,652,417 1,652,417 1,652,417 1,652,417 1,636,346 1,636,346 1,636,346 1,636,346 -
NET ASSETS
676,667 -
475,833 -
275,000 -
74,167 0 -
126,667 0 -
254,000 0
332,333 -
410,667 -
489,000 -
567,333 -
645,667 -
675,000 -
675,000 -
675,000 -
675,000 -
SHAREHOLDERS FUNDS
Share Capital & Premium Profit & Loss Account
676,667 676,667 -
475,833 475,833 -
275,000 275,000 -
74,167 74,167
126,667 126,667
254,000 254,000
332,333 332,333
410,667 410,667
489,000 489,000
567,333 567,333
645,667 645,667
675,000 675,000
675,000 675,000
675,000 675,000
675,000 675,000
Month 1 CASH INFLOWS Cash from Sales VAT (or GST USA) from Sales Loans from Directors Long Term Loans Share Capital Investment CASH INFLOW IN PERIOD CASH OUTFLOWS Financing & Investment IT / Office Equipment Plant & Machines Intangible Assets [Development] Other Fixed Assets Purchases for Stock Bank Interest Paid / (Received) Loan Interest Paid Loan Capital Repayments Director Loan Repayments Administrative Expenses Application development (Engineering) Consultancy (Expert Opinion) Technology (Parametric) Design (Engineering) Reference 1 (Analogy) Reference 2 ( anology) Account Head 7 Account Head 8 Account Head 9 Account Head 10 Account Head 11 Account Head 12 Account Head 13 Account Head 14 Account Head 15 Account Head 16 Account Head 17 Account Head 18 Account Head 19 Sales & Distribution Costs VAT (or GST USA) VAT in Purchases & Expense Payment 17.50% VAT to Customs & Excise - Payment (Refund) CASH OUTFLOWS IN PERIOD NET CASH FLOWS OPENING CASH CASH BALANCE 1,000,000 175,000 1,175,000
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Year Year 1
Year Year 2
Year Year 3
510,000 -
382,500 -
382,500 -
382,500 -
382,500 -
306,000 -
255,000 -
255,000 -
255,000 -
3,111,000 -
62,500 -
193,229 -
107,479
85,167
85,167
85,167
62,854
62,854
1,636,346 1,636,346
Soft-tech Ltd.
Hand-held Device for Shop floor
1,800,000
1,600,000
1,400,000
1,200,000
1,000,000
800,000
600,000
400,000
200,000
Soft-tech Ltd.
Hand-held Device for Shop floor
7,000,000
6,000,000
5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Year Year 1
Year Year 2
Year Year 3
OPERATING PERFORMANCE RATIOS GROSS PROFIT MARGIN % COST OF SALES % SALES & DISTRIBUTION % PROFIT BIT ON SALES % 49% 51% 0% -68% 49% 51% 0% 27% 49% 51% 0% 27% 49% 51% 0% 27% 49% 51% 0% 27% 49% 51% 0% 21% 49% 51% 0% 16% 49% 51% 0% 16% 49% 51% 0% 16% 49% 51% 0% 16% 49% 51% 0% 16% 49% 51% 0% 7% 49% 51% 0% 9% 0% 0% 0% 0% 0% 0% 0% 0%
RETURN ON ASSETS RATIOS RETURN ON NET ASSESTS RETURN ON EQUITY 0% 0% 2,380,952 BREAK EVEN & CASH CONSUMPTION LEVELS SALES BREAK EVEN - Exc VAT(exc.capex) (Assuming COS + Distribution as % of Sales) CASH BURN RATE - BEFORE SALES (Excluding Capital) CASH BURN RATE - BEFORE SALES (Including Capital) CASH BURN RATE - INCLUDING SALES (Including Capital) 2,380,952 340,136 340,136 340,136 340,136 340,136 340,136 340,136 340,136 340,136 340,136 340,136 # 6,122,449 0% 0% 340,136 0% 0% 340,136 0% 0% 340,136 159% 0% 340,136 50% 0% 340,136 24% 0% 340,136 19% 0% 340,136 16% 0% 340,136 14% 0% 340,136 12% 0% 340,136 4% 0% 340,136 100% 0% 6,122,449 0% 0% 0% 0% -
62,500
1,166,667
166,667
166,667
166,667
166,667
166,667
166,667
166,667
166,667
166,667
166,667
2,895,833
62,500
1,166,667
166,667
166,667
166,667
166,667
166,667
166,667
166,667
166,667
166,667
166,667
2,895,833
-937,500
416,667
-583,333
-583,333
-583,333
-433,333
-333,333
-333,333
-333,333
-333,333
-333,333
-233,333
-4,604,167
SOLVENCY RATIOS NET CURRENT ASSETS CURRENT RATIO 676,667 0.6 475,833 0.6 275,000 0.8 74,167 1.0 126,667 1.1 254,000 1.2 332,333 1.3 410,667 1.4 489,000 1.5 567,333 1.5 645,667 1.6 675,000 1.7 675,000 1.7 675,000 1.7 675,000 1.7
DEPRECIATION POLICY Fixed Assets are Depreciated at 0% per annum, on a reducing balance basis.
<< Back to Master Glossary of Accounting Terms Profit & Loss Account
GLOSSARY
OUTPUTS:
<< P&L
<< BS
<<CASH
>>Statement of trading performance (excludes assets and liabilities) Balance Sheet >>Statement of Assets & Liabilities at a particular point in time Cash Flow Statement >>Statement of cash position and the sources and uses of cash during the period Creditors >>Money owed by the company to suppliers and others who they have bought goods from (including VAT or GST) Debtors >>Money owed TO the company by suppliers and others (includes VAT) Assets >>Those things owned by the business >>such as cash, or furniture, or computers or trademarks Fixed Assets >>Those assets that are reasonably fixed >>not stock or cash which are consumed regularly Current Assets >>Those assets that are reasonably quickly able to be converted into cash (or are cash) stock, debtors,etc. Liabilities >>That which is owed by the company to others >>such as overdraft or other debts / commitments Depreciation >>Fixed Assets have a finite life >>as they get older they need to be depreciated (as their asset value reduces) >>This depreciation is charged to the Profit & Loss account and reduced the value of the asset
>>For example, a Computer might have a 3 year life expectancy >>so it is depreciated (reduced in value) over three years to zero Interest >>Interest charged on loans and overdrafts, or paid on cash deposits Equity >>Investment made into the company in exchange for shares (part ownership). Debt >>Loans from the bank and others made to the company Director Loans >>Loans made by directors to the company, or vice-versa NI >>National Insurance or Employment Tax >>paid by companies on top of employee salaries VAT / GST
>>Value Added Tax or General Sales Tax >>A tax the company adds to Sales and which it is charge on Supplies. >>The difference between the tax it charges and the tax it is charged by others is then paid to the Tax Office. /\ /\ BACK TO TOP /\ /\ For support e-mail us : freeware@innovateur.co.uk
CHARTS:
CASH>>
PROFIT>>
ks
debtors,etc.
ents
t value reduces)
arge on Supplies.
he Tax Office.