Below are two balance sheets for Throup Ltd for the most recent and the previous year’s trading periods.
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Throup Ltd Balance Sheets at financial year end Don't use plagiarized sources. Get Your Custom Essay on
below are two balance sheets for throup ltd for the most recent and the previous yea 611352
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Year ended |
Year ended 31 December 2016 |
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£ |
£ |
£ |
£ |
£ |
£ |
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Non-current assets |
Cost |
Dep. |
NBV |
Cost |
Dep. |
NBV |
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Property |
180,000 |
10,000 |
170,000 |
180,000 |
14,000 |
166,000 |
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Equipment and machinery |
23,000 |
4,500 |
18,500 |
44,000 |
11,310 |
32,690 |
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203.000 |
14.500 |
188.500 |
224,000 |
25,310 |
198,690 |
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Current assets |
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Inventory |
5,630 |
12,131 |
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Trade receivables |
6,432 |
6,265 |
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Cash and cash equivalents |
2,300 |
11,888 |
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14,362 |
30,284 |
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Current liabilities |
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Trade payables |
11,991 |
1,321 |
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Tax owing |
7,871 |
19,862 |
(5,500) |
5,453 |
6,774 |
23,510 |
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183,000 |
222,200 |
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Non-current liabilities |
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10% Debentures |
20,000 |
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183,000 |
202,200 |
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Equity |
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Ordinary share capital |
100,000 |
100,000 |
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Share premium |
20,000 |
20,000 |
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Retained earnings |
63,000 |
82,200 |
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183,000 |
202.200 |
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The folioing extract from the income statement is available:
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Extract from income statement for year ended 31 Dec 2016 |
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£ |
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Operating profit |
34,950 |
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Less Interest |
2,000 |
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Profit before interest |
32,950 |
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Taxation |
11,250 |
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Profit for the year |
21,700 |
In addition, the following information is available:
•Dividends of £2,500 were paid during the year.
•There were no sales of non-current assets during the year.
From the above information, construct a statement of cash flows for the year ended 31 December 2016.
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