EC Meeting Papers July 2018

GFTUET TRADING COMPANY LIMITED

INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2017

2017

2016

Notes

£

£

Turnover

1,431,423

1,470,793

Cost of sales

840,100

978,261

Gross profit

591,323

492,532

Administrative expenses

758,640

657,382

Operating loss

4

(167,317)

(164,850)

Gift Aid

5

-

78,000

(167,317)

(242,850)

Interest receivable and similar income

44

70

Loss before taxation

(167,273)

(242,780)

Tax on loss

-

-

Loss for the financial year

(167,273)

(242,780)

The notes form part of these financial statements

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