Author: Mr Nasheeb Rassan
www.iccf6.com
The balance sheets at 31 March 2010 and 2009 for Costello plc are shown below:
2010
2009
$000 $000
$000 $000
Non-current (fixed) assets (Note 1)
8 080
5 330
Current assets
Inventories
Trade and other receivables
Cash and cash equivalents
948
542
–
920
522
580
Current liabilities
Trade and other payables
Tax
Cash and cash equivalents
(453)
(168)
(87)
(234)
(306)
–
Net current assets
Non-current liabilities
7% debentures (Note 2)
Net assets
Equity
Ordinary shares of $1 each fully paid (Note 3)
Share premium account
Retained earnings
782
8 862
1 482
6 812
(360)
8 502
(500)
6 312
3 000
1 000
4 502
8 502
2 000
–
4 312
6312
The following information is available for the year ended 31 March 2010:
Profit from operations (operating profit)
Finance costs (interest paid)
Tax
Dividends paid
Retained profit for the year
$000
393
(30)
363
(168)
195
(5)
190
Author: Mr Nasheeb Rassan
www.iccf6.com