below are two balance sheets for throup ltd for the most recent and the previous yea 611352

Below are two balance sheets for Throup Ltd for the most recent and the previous year’s trading periods.

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 Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! Just from $10/Page Order Essay
	Year ended 31 December 2015				Year ended 31 December 2016
	£	£		£	£	£	£
Non-current assets	Cost	Dep.	NBV		Cost	Dep.		NBV
Property	180,000	10,000	170,000		180,000	14,000		166,000
Equipment and machinery	23,000	4,500	18,500		44,000	11,310		32,690

	203.000	14.500	188.500		224,000	25,310		198,690
Current assets
Inventory		5,630				12,131
Trade receivables		6,432				6,265
Cash and cash equivalents		2,300				11,888

		14,362				30,284
Current liabilities
Trade payables	11,991				1,321
Tax owing	7,871	19,862	(5,500)		5,453	6,774		23,510
			183,000					222,200
Non-current liabilities
10% Debentures								20,000
			183,000					202,200
Equity
Ordinary share capital			100,000					100,000
Share premium account			20,000					20,000
Retained earnings			63,000					82,200
			183,000					202.200

The folioing extract from the income statement is available:

Extract from income statement for year ended 31 Dec 2016
	£
Operating profit	34,950
Less Interest	2,000
Profit before interest	32,950
Taxation	11,250
Profit for the year	21,700