Educational Trustees Meeting

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 56,948 13,324 62,471 70,705 66,865 77,826 12,259 10,871 28,802 10,115 26,839

198,368 45,918 17,031 85,295 34,320 72,290 69,200 10,040 22,809 10,634 24,882 9,247

Rates and water

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

9,807

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

-

684,704

644,154

(93,337)

(151,552)

Finance costs Bank charges

13,351

13,228

(106,688)

(164,780)

Gift Aid Gift Aid

48,000

78,000

Net loss

(154,688)

(242,780)

This page does not form part of the statutory financial statements

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