| Contents | Page | ||||
|---|---|---|---|---|---|
| Directors' report |
|||||
| Chartered certified accountants |
report to the | board ofdirectors | |||
| on the preparation of |
the unaudited | statutory | financial | ||
| statements | |||||
| Statement of income |
and retained | earnings | |||
| Statement offinancial |
position | ||||
| Notes to the financial | statements | ||||
| The following pages |
do not form | part ofthe financial statements | |||
| Detailed income statement | |||||
| Notes to the detailed | income statement |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Note | 6 | 6 | |||
| Turnover | 583 | 412 | |||
| Gross profit | 583 | 412 | |||
| Administrative expenses |
2,927 | 6,333 | |||
| Other operating income |
28,150 | 14,601 | |||
| Operating profit |
25,806 | 8,680 | |||
| Interest payable and |
similar expenses | 4 | 4,331 | 5,903 | |
| Profit before taxatlon | 21,475 | 2,777 | |||
| Tax on profit | |||||
| Profit for the financial year and total comprehensive | income | 21,475 | 2,777 | ||
| Retained earnings | at the start ofthe year | 209,860 | 207,083 | ||
| Retained earnings | at the end ofthe year | 231,335 | 209,860 |
| 4. | Interest payable and | similar expenses | ||
|---|---|---|---|---|
| 2021 | 2020 | |||
| 6 | f | |||
| Interest on banks loans and overdrafts | 4,331 | 5,903 | ||
| 5. | Tangible assets | |||
| Land and | ||||
| buildings | ||||
| 6 | ||||
| Cost | ||||
| At 1 August 2020 and 31July 2021 | 300,000 | |||
| Depreciation | ||||
| At 1 August 2020 and 31July 2021 | ||||
| Carrying amount |
||||
| At 31July 2021 | 300,000 | |||
| At 31 July 2020 | 300,000 | |||
| 6. | Creditors: amounts | falling due within one year | ||
| 2021 | 2020 | |||
| 6 | F | |||
| Other creditors | 1,215 | 3,332 | ||
| 7. | Creditors: amounts | falling due after more than one year | ||
| 2021 | 2020 | |||
| 6 | 6 | |||
| Bank loans and overdrafts | 90,204 | 91,662 |
| 2021 | 2020 | ||
|---|---|---|---|
| Turnover | 583 | 412 | |
| Gross profit | 583 | 412 | |
| Overheads | |||
| Administrative expenses |
|||
| Rates and water | 217 | 217 | |
| Insurance | 738 | 169 | |
| Repairs and maintenance | 2,949 | ||
| Sundry expenses | 13 | ||
| Charitable donations |
850 | 400 | |
| Celebration & Festivities |
Expense | 1,804 | |
| Bank charges | 9 | 44 | |
| Legal and professional | fees | 600 | 300 |
| Accountancy fees |
500 | 450 | |
| 2,927 | 6,333 | ||
| Other operating income |
|||
| Rent Received | 18,150 | 14,601 | |
| Government grants |
10,000 | ||
| 28,150 | 14,601 | ||
| Operating profit |
25,806 | 8,680 | |
| Interest payable and similar expenses |
(4,331) | (5,903) | |
| Profit before taxation | 21,475 | 2,777 |
| Notes to the Detailed Incom Year ended 31July |
e Statement 2021 |
|||
|---|---|---|---|---|
| 2021 | 2020 | |||
| Interest | payable | and similar expenses | ||
| Interest | on bank | loans and overdrafts | 4,331 | 5,903 |