Sample accounts
The following set of accounts represents the set of documents published by a fictional company.
| Balance sheet - Forlorn Sails plc as at 28th May 2011 ($'000's)
|
|---|
| 2013
|
2014
|
|
2011
|
2011
|
|
|
Fixed assets |
|
|
| 600
|
|
Land
|
600
|
|
| 1,200
|
|
Buildings
|
1,200
|
|
| 2,100
|
|
Plant and equipment
|
2,300
|
|
| 700
|
4,600
|
Others
|
800
|
4,900
|
|
|
|
|
|
|
|
Current assets |
|
|
| 250
|
|
Stock
|
500
|
|
| 250
|
|
Debtors
|
400
|
|
| 100 |
|
Cash
|
600 |
|
| 600
|
|
|
1,500
|
|
|
|
Current liabilities |
|
|
| 150
|
|
Creditors
|
200
|
|
| 100
|
|
Overdrafts
|
300
|
|
| 150
|
|
Taxation
|
200
|
|
| 300 |
|
Dividends
|
300 |
|
| 700
|
|
|
1,000
|
|
|
(100)
|
Net current assets |
|
500
|
|
|
|
|
|
|
4,500 |
**Net assets |
|
5,400 |
|
|
|
|
|
|
|
Financed by:
|
|
|
|
|
|
|
|
|
|
Long term liabilities |
|
|
| 500
|
|
Loans
|
1,000
|
|
| 500
|
1,000
|
Debentures
|
500
|
1,500
|
|
|
|
|
|
|
|
Capital and Reserves |
|
|
| 1,200
|
|
Share capital
|
1,200
|
|
| 500
|
|
Revaluation reserve
|
500
|
|
| 500
|
|
Share premium account
|
500
|
|
| 1,300
|
3,500
|
Retained profits
|
1,700
|
3,900
|
|
|
|
|
|
|
4,500 |
Capital employed |
|
5,400 |
| Profit and loss account - Forlorn Sails plc - year ended 28th May 2011 ($'000's)
|
|---|
| 2010
|
|
2011
|
| 19,000
|
Sales revenue |
21,600
|
| 13,000
|
Cost of goods sold
|
14,500
|
|
|
|
| 6,000
|
Gross profit |
7,100
|
| 4,350
|
Operating costs/expenses
|
5,000
|
|
|
|
| 1,650
|
Net profit before interest and tax |
2,100
|
| 1,000
|
Interest
|
1,200
|
| 150
|
Taxation
|
200
|
|
|
|
| 500
|
Net profit after interest and tax |
700
|
| 300
|
Dividends
|
300
|
|
|
|
| 200
|
Retained profit |
400
|
Warning Warning Warning
Balance
Sheets can have the component assets and liabilities etc in a variety
of orders ie the layout. To avoid any confusion the IB use a consistent
layout so you must be conversant with the IB version only. Looking at the above Balance sheet how does it differ from the IB?
