6.7 Simplified financial statements for York plc are: Income statement for the year ended 30 September 2015
Question:
6.7 Simplified financial statements for York plc are:
Income statement for the year ended 30 September 2015
£m Revenue 290.0 Cost of sales (215.0)
Gross profit 75.0 Operating expenses (Note 1) (62.0)
Operating profit 13.0 Interest payable (Note 2) (3.0)
Profit before taxation 10.0 Taxation (2.6)
Profit for the year 7.4 Statement of financial position as at 30 September 2014 2015 £m £m ASSETS Non-current assets (Note 4) 80.0 85.0 Current assets Inventories and trade receivables 119.8 122.1 Cash at bank 9.2 16.6 129.0 138.7 Total assets 209.0 223.7 EQUITY AND LIABILITIES Equity Share capital 35.0 40.0 Share premium account 30.0 30.0 Reserves 31.0 34.9 96.0 104.9 Non-current liabilities Borrowings 32.0 35.0 Current liabilities Trade payables 80.0 82.5 Taxation 1.0 1.3 81.0 83.8 Total equity and liabilities 209.0 223.7 Cost Accumulated depreciation Carrying amount £m £m £m At 1 October 2014 120.0 40.0 80.0 Disposals (10.0) (8.0) (2.0)
Additions 20.0 – 20.0 Depreciation – 13.0 (13.0)
At 30 September 2015 130.0 45.0 85.0 Required:
Prepare a statement of cash flows for York plc for the year ended 30 September 2015.
Step by Step Answer:
Financial Accounting For Decision Makers
ISBN: 9781292099040
8th Edition
Authors: Peter Atrill, Eddie McLaney