| Category | Assignment | Subject | Fiance |
|---|---|---|---|
| University | De Montfort University | Module Title | LIPC1150 Financial Decision Making |
| Assignment Title | Assignment 1 Individual Coursework |
| Level | 4 |
| Academic year | 2025 |
|
|
|
James Ltd |
Smith Ltd |
|
|
Notes |
£000 |
£000 |
|
Revenue |
|
638 |
493 |
|
Cost of sales |
|
(331) |
(297) |
|
|
|
–––––– |
–––––– |
|
Gross profit |
|
307 |
196 |
|
Distribution costs |
|
(36) |
(29) |
|
Administrative expenses |
1 |
(99) |
(46) |
|
|
|
–––––– |
–––––– |
|
Profit before taxation |
|
172 |
121 |
|
Taxation |
|
(21) |
(22) |
|
|
|
–––––– |
–––––– |
|
Profit for the year |
|
151 |
99 |
|
|
|
====== |
====== |
Statement of Financial Position as at 31 March 2024
|
|
Notes |
|
James Ltd |
|
|
Smith Ltd |
|
|
|
|
|
|
|
|
|
|
|
|||
|
Non‐current assets (NBV): |
|
£000 |
£000 |
£000 |
£000 |
£000 |
£000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, plant and equipment |
1 |
|
|
198 |
|
|
111 |
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
|
Inventory |
|
|
60 |
|
|
58 |
|
|
|
|
Trade and other receivables |
|
|
35 |
|
|
43 |
|
|
|
|
Cash and cash equivalents |
|
|
2 |
|
|
– |
|
|
|
|
|
|
|
–––– |
97 |
|
–––– |
101 |
|
|
|
|
|
|
|
–––– |
|
|
–––– |
|
|
|
Total assets |
|
|
|
295 |
|
|
212 |
|
|
|
Equity and liabilities: |
|
|
|
==== |
|
|
==== |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share capital (£1 share each) |
|
|
|
50 |
|
|
30 |
|
|
|
Retained earnings |
|
|
|
161 |
|
|
66 |
|
|
|
|
|
|
|
–––– |
|
|
–––– |
|
|
|
Non‐current liabilities: |
|
|
|
211 |
|
|
96 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Borrowings |
|
|
– |
|
|
20 |
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
|
Trade and other payables |
2 |
74 |
|
|
74 |
|
|
|
|
|
Current tax payable |
|
10 |
|
|
12 |
|
|
|
|
|
Bank overdraft |
|
– |
|
|
10 |
|
|
|
|
|
|
|
–––– |
84 |
|
–––– |
96 |
|
|
|
|
|
|
|
–––– |
84 |
|
–––– |
116 |
|
|
|
|
|
|
|
–––– |
|
|
–––– |
|
|
|
Total equity and liabilities |
|
|
|
295 |
|
|
212 |
|
|
|
|
|
|
|
==== |
|
|
==== |
|
|
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|
James Ltd |
Smith Ltd |
|
|
£000 |
£000 |
|
Land and buildings |
97 |
43 |
|
Fixtures and fittings |
28 |
17 |
|
Motor vehicles |
73 |
51 |
|
|
–––– |
–––– |
|
|
198 |
111 |
|
|
|
|
Required:
|
Dr. (£) |
Cr. (£) |
|||
|
Plant and Machinery (cost) |
14,000 |
|||
|
Plant and Machinery- accumulated depreciation |
3,100 |
|||
|
Equipment (cost) |
9,500 |
|||
|
Equipment - accumulated depreciation |
2,000 |
|||
|
Motor vehicle (purchased 1 April 2023) |
12,000 |
|||
|
Motor vehicle- accumulated depreciation |
4,200 |
|||
|
Opening inventory (stock) |
5,600 |
|||
|
Trade receivables |
12,000 |
|||
|
Trade payables |
17,000 |
|||
|
Cash in hand / Bank |
15,610 |
|||
|
Ordinary Share Capital of £1 share each |
26,660 |
|||
|
Revenue |
167,150 |
|||
|
Purchases |
54,100 |
|||
|
Returns outwards |
1,200 |
|||
|
Water bills |
4,150 |
|||
|
Delivery Cost |
3,600 |
|||
|
Discount allowed to customers |
2,150 |
|||
|
Wages and Salaries |
42,100 |
|||
|
Rent |
14,300 |
|||
|
Insurance |
5,600 |
|||
|
Miscellaneous expenses |
26,600 |
|||
|
|
|
|||
|
221,310 |
221,310 |
|||
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