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The forms and formats include:
� income statement of a sole trader
� balance sheet of a sole trader
� income statement of a limited company
� balance sheet of a limited company
� cash budget
� ledger accounts
© Osborne Books Limited 2012
Published by Osborne Books Limited Tel 01905 748071Email [email protected]
INCOME STATEMENT OF ............................................................ FOR THE YEAR/PERIOD ENDED ...............................
£ £ £
Revenue ......
Less Sales returns ......
Net revenue ......
Opening inventories ......
Purchases ......
Carriage in ......
Less Purchases returns ......
Net Purchases ......
......
Less Closing inventories ......
Cost of sales ......
Gross profit ......
Add income:
eg Discounts received ......
Reduction in provision for doubtful debts ......
Bad debts recovered ......
Profit on sale of non-current assets ......
......
Less expenses:
eg Vehicle running expenses ......
Rent ......
Rates ......
Heating and lighting ......
Telephone ......
Salaries and wages* ......
Discounts allowed ......
Carriage out ......
Provision for depreciation of non-current assets ......
Loss on sale of non-current assets ......
Bad debts written off ......
Increase in provision for doubtful debts ......
......
Profit/(loss) for the year ......
*Wages are sometimes listed as an expense in the trading section of the income statement
SOLE TRADER: INCOME STATEMENT
BALANCE SHEET OF ................................. AS AT ...........................Non-current Assets Cost Depreciation Net book value
£ £ £Property ...... ...... ......Equipment ...... ...... ......Vehicles ...... ...... ......etc ...... ...... ......
...... ...... ......Current AssetsInventories ......Trade receivables ......Less provision for doubtful debts ......
......Prepayment of expenses (other receivables) ......Accrual of income (other receivables) ......Bank/cash (cash and cash equivalents) ......
......Less Current LiabilitiesTrade payables ......Accrual of expenses (other payables) ......Prepayment of income (other payables) ......Bank overdraft ......
......Net Current Assets or Working Capital ......
......Less Non-current LiabilitiesLoans ......NET ASSETS ......
FINANCED BYCapitalOpening capital ......Add Profit/(Less Loss) for the year ......
......Less Drawings ......
......
SOLE TRADER: BALANCE SHEET
Practical point: When preparing handwritten final accounts it is usual practice to underline all the headings and sub-headings shown in bold print in the example layout.
................................................ LIMITED INCOME STATEMENT FOR THE YEAR/PERIOD ENDED
£ £
Revenue ......
Opening inventories ......
Purchases ......
......
Less Closing inventories ......
Cost of sales ......
Gross profit ......
Less Overheads:
Distribution costs ......
Sales and marketing expenses ......
Administration costs ......
......
Profit/(loss) from operations ......
Less Finance costs ......
Profit/(loss) before tax ......
Less Tax ......
Profit/(loss) for the year ......
STATEMENT OF CHANGES IN EQUITY (EXTRACT)
Retained earningsBalance at start of year ......
Profit for the year ......
......
Less Dividends paid in year ......
Balance at end of year ......
LIMITED COMPANY: INCOME STATEMENT
................................................ LIMITED BALANCE SHEET AS AT .................................................
Non-current Assets Cost/Reval’n Depreciation Net book value£ £ £
IntangibleGoodwill ...... ...... ......
Property, plant and equipmentProperty ...... ...... ......Machinery ...... ...... ......Fixtures and fittings ...... ...... ......etc ...... ...... ......
...... ...... ......
Current AssetsInventories ......Trade and other receivables ......Cash and cash equivalents ......
......Less Current LiabilitiesTrade and other payables ......Bank overdraft ......Tax liabilities ......
............
Net Current Assets or Working Capital ............
Less Non-current LiabilitiesDebentures ......NET ASSETS ......
EQUITYAuthorised Share Capital
......x (number) ordinary shares of £x (nominal value) each ......
......Issued Share Capital
......x (number) ordinary shares of £x (nominal value) each, fully/partly paid ......
......Capital ReservesShare premium ......Revaluation reserve ...... ......Revenue Reserve
......Retained earnings ...... ......TOTAL EQUITY ......
Note: the balance sheet can be presented using a number of columns, as required.
LIMITED COMPANY: BALANCE SHEET
Name:
CASH
BUD
GET
for p
eriod:
month: ............................ ............................ ............................ ............................ ........................... ...........................
£ £ £ £ £ £
Income
Receipts from trade receivables
Cash sales
TOTAL INCO
ME
Expenditure
Payments to trade payables
Purchase of non-current assets
Operating expenses
Loan repayment
TOTAL EXPENDITURE
NET CA
SHFLOW
Opening Balance
Closing Ba
lance
Date Details Amount
£
Date Details Amount
£
Date Details Amount
£
Date Details Amount
£
Dr Cr
Dr Cr
L E D G E R A C C O U N T S
Date Details Amount
£
Date Details Amount
£
Dr Cr
