Below are two balance sheets for Throup Ltd for the most recent and the previous year’s trading periods.
|
Throup Ltd Balance Sheets at financial year end |
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|
Year ended |
Year ended 31 December 2016 |
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|
£ |
£ |
£ |
£ |
£ |
£ |
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|
Non-current assets |
Cost |
Dep. |
NBV |
Cost |
Dep. |
NBV |
||
|
Property |
180,000 |
10,000 |
170,000 |
180,000 |
14,000 |
166,000 |
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|
Equipment and machinery |
23,000 |
4,500 |
18,500 |
44,000 |
11,310 |
32,690 |
||
|
203.000 |
14.500 |
188.500 |
224,000 |
25,310 |
198,690 |
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|
Current assets |
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|
Inventory |
5,630 |
12,131 |
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|
Trade receivables |
6,432 |
6,265 |
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|
Cash and cash equivalents |
2,300 |
11,888 |
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|
14,362 |
30,284 |
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|
Current liabilities |
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|
Trade payables |
11,991 |
1,321 |
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|
Tax owing |
7,871 |
19,862 |
(5,500) |
5,453 |
6,774 |
23,510 |
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|
183,000 |
222,200 |
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|
Non-current liabilities |
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|
10% Debentures |
20,000 |
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|
183,000 |
202,200 |
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|
Equity |
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|
Ordinary share capital |
100,000 |
100,000 |
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|
Share premium |
20,000 |
20,000 |
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|
Retained earnings |
63,000 |
82,200 |
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|
183,000 |
202.200 |
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The folioing extract from the income statement is available:
|
Extract from income statement for year ended 31 Dec 2016 |
|
|
£ |
|
|
Operating profit |
34,950 |
|
Less Interest |
2,000 |
|
Profit before interest |
32,950 |
|
Taxation |
11,250 |
|
Profit for the year |
21,700 |
In addition, the following information is available:
•Dividends of £2,500 were paid during the year.
•There were no sales of non-current assets during the year.
From the above information, construct a statement of cash flows for the year ended 31 December 2016.