EC Meeting Papers July 2018
GFTUET TRADING COMPANY LIMITED
TRADING AND PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2017
2017
2016
£
£
£
£
Sales
1,431,423
1,470,793
Cost of sales Opening stock
10,812 299,815 504,659 34,942
10,603 262,839 692,904
Purchases
Wages
Other direct costs
22,727
850,228 (10,128)
989,073 (10,812)
Closing stock
840,100
978,261
Gross profit
591,323
492,532
Other income Deposit account interest
44
70
591,367
492,602
Expenditure Wages
210,890 48,000 56,948 13,324 75,055 70,705 66,865 77,826 12,259 10,871 28,802 10,115 26,839
198,368
Rent
-
Rates and water
45,918 17,031 85,295 34,320 72,290 69,200 10,040 22,809 10,634 24,882 9,247
Insurance
Light and heat
Repairs to property Cleaning and waste
Depreciation of tangible fixed assets
Telephone
Post and stationery
Advertising Travelling
Computer costs Sundry expenses
9,808
9,098
Subscriptions
11,650
11,408 19,530
Legal fees
2,645 4,000
Auditors' remuneration
4,000
Entertainment
-
84
Bad debts
8,687
-
745,289
644,154
(153,922)
(151,552)
Finance costs Bank charges
13,351
13,228
(167,273)
(164,780)
Gift Aid Gift Aid
-
78,000
Net loss
(167,273)
(242,780)
This page does not form part of the statutory financial statements
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