Elite Ltd

Income Statement for 31-July-2014

£000 £000
Revenue 4500
Cost of Sales:
Opening inventory 320
Purchases 2520
Closing Invetory -250
2590
Gross Profit 1910

Expenses:
Administraion expenses 752
Distribution expenses 17
Building and Equipment expenses 106
875
1035

Profit/loss on disposal of operations 108

Operating Profit 1143

Finance income/Investment income 157

Finance Costs -16 141
Profit on ordinary activities before taxation 1294
Taxations 95
Profit on ordinary activities after taxation and profit for
the finacial year 1189
Elite Ltd.
Statement in Changes in Equity as at 31-July-2014
Share Capital Retained
(£) Earnings (£)

Balance at 01- August -2013 1,000,000 745,000

Changes in Equity
Profit for the year 1,189,000
Ordinary Dividents paid (50,000)

Balance at 31-July-2014 1,000,000 1,884,000

Toatal
Equity(£)

1,745,000

1,189,000
(50,000)

2,884,000
Elite Ltd
Statement of Financial Position at 31-July-2014
£ £
Non- Current Asset
Intangible Assets - Goodwill 400,000.00
Property, Plant and Equipment 734,000.00
Investments 1,300,000.00
2,434,000.00
Current Assets
Inventories (Closing Inventory) 250,000.00
Trade Receivables 800,000.00
Other Receivables (Prepaid Expense) 3,000.00
Bank and Cash 330,000.00 1,383,000.00
Total Assets 3,817,000.00

Capital and Reserves

Ordinary Share Capital 1,000,000.00
Retained Earnings 1,884,000.00
Equity 2,884,000.00

Non-Current Liabilities
Debenture 200,000.00

Current Liabilities
Trade Payables 620,000.00
Corporation Tax Paid 95,000.00
Interest Payable 16,000.00
Other Payable (Accrued Expense) 2,000.00 933,000.00
Total Equity and Liabilities 3,817,000.00