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Instructions www.excel-skills.com
This template enables users to compile comprehensive financial statements based on International Financial Reporting Standards for small & medium enterprises (IFRS for SME's) from any trial balance regardless of the structure of the accounts that are included in the trial balance. The financial statements are compiled by linking each account in the trial balance to a pre-defined financial statement reporting class code and all the amounts that are included on the financial statements are automatically calculated based on the linked class codes. The template can also easily be rolled forward or back by simply changing the year value in a single input cell. Disclaimer: The aim of this template is to assist users in compiling a standard set of financial statements and we can therefore not guarantee that all the financial statement disclosures that are required for the particular business will be accommodated in the template. The user therefore remains solely responsible for ensuring the accuracy and completeness of financial statement disclosure. The following sheets are included in the template: Set-up - enter all the relevant business details on this sheet and specify the financial year end month and the current financial reporting period. The reporting period that is specified determines which annual periods will be included in the current and comparative periods on the financial statements. Classes - this sheet contains all the pre-defined financial statement reporting classes that should be used to link the accounts on the trial balance to the calculations on the financial statements. The classes are provided in order to simplify the linking of accounts and are not linked to the financial statements. Changes that are made to the pre-defined classes on this sheet will therefore have no effect on the financial statement calculations. TB - a complete trial balance for each annual period should be included on this sheet and each account in the trial balance should be linked to the appropriate financial statement reporting class by entering or copying the appropriate class code into column A. The amounts that are included on the financial statements are automatically updated based on the classes that are specified on this sheet. FinInfo - this sheet contains financial statement information that is incorporated in the financial statements but not derived from the trial balance. Users are therefore required to enter the appropriate values for each annual period that is included in the template. The values that are specified on this sheet are automatically included on the financial statements based on the pre-defined code that is included in column A. AFS - this sheet includes a complete set of financial statements which is automatically compiled based on the current reporting period that is selected on the Set-up sheet, the account balances that are included on the TB sheet and the financial information that is included on the FinInfo sheet. No user input is required on this sheet but users can customize the standard financial statements based on their own requirements if necessary. TBImport - the calculations on this sheet enables users to review the sequence of trial balance accounts before copying the account balances to the TB sheet. The sequence of accounts can be amended until no errors are reflected and the calculations in column E round all trial balance amounts to the nearest integer value thereby ensuring that all the totals on the financial statements are accurate.
Set-up
The input cells that contain a yellow cell background on the Set-up sheet need to be completed in order to include your business details on the financial statements. The business name is included on all the financial statement page headings and the business registration number is included on the index page (the first page of the financial statements). The business address and country are included in the first note to the financial statements and the currency symbol that is specified in cell B12 is included below the year on a number of pages of the financial statements. The year end month in cell B14 is used to determine the appropriate year end date and previous year end date which are included in a number of notes to the financial statements. The current reporting year needs to be entered in cell B16 and determines which annual period is used as the current reporting period in the financial statements. The comparative year is also determined based on the input in this cell and all the values that are included on the TB sheet and the FinInfo sheet are included in the automated financial statement calculations based on the year that is entered in this cell.
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Note: You can therefore automatically roll the financial statements forward or back by simply changing the year that has been entered in cell B16 on the Set-up sheet. All the calculations on the financial statements will be updated automatically after editing the value in this cell.
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Trial Balance
A complete trial balance should be copied or entered on the TB sheet for each annual reporting period that needs to be included in the financial statements. All the account numbers and account descriptions that form part of the trial balance need to be copied or entered into column B and C on the TB sheet and the appropriate account balances need to be entered into the columns from column D onwards.
Each account then needs to be linked to one of the pre-defined financial statement reporting classes that are listed on the Classes sheet. The template will contain default data on the TB sheet when you use it for the first time but you can replace all the account numbers and descriptions with your own and clear all the class codes in column A before you commence with the exercise of linking your accounts to the appropriate pre-defined financial statement reporting classes. After clearing all the class codes from column A, you need to refer to the Classes sheet in order to determine which accounts need to be linked to which financial statement reporting classes. Note that you do not need to use all the default classes if they are not required but it is imperative that each account is linked to a class. After completing the linking exercise, there should therefore be no blank values in column A. Note: We have included conditional formatting in column A in order to highlight all the cells that have not been linked to one of the pre-defined reporting classes in red. If you therefore notice that a cell has been highlighted in red, it either means that the account is not linked to a class at all or that the account is not linked to a valid class. After correcting the input in column A, the red highlighting will be removed automatically. Note: All the accounts that are included in your trial balance should be entered in a continuous cell range on the TB sheet - there should not be any blank rows or columns in between account numbers or financial periods otherwise all the accounts or periods may not be included in the financial statement calculations and your balance sheet may therefore not balance! We have also included totals above the column headings which will indicate if the sum of the account balances for any annual period does not equal nil. If the total of all the account balances in a trial balance does not equal nil, it means that the financial statements will not be accurate and that the balance sheet will probably not balance. You should therefore always ensure that the trial balance for each annual period adds up to a nil value. New businesses When compiling financial statements for a new business, you only need to include the account balances of the current financial reporting period on the TB sheet. All the amounts for the comparative financial year on the financial statements will be nil. The TB sheet contains a number of default years - you can therefore change the column heading in column D to the appropriate current financial year and change all the subsequent columns to the appropriate subsequent years. Also remember to enter the correct current financial reporting period in cell B16 on the Set-up sheet. Existing businesses
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When compiling financial statements for an existing business, you need to include the trial balances of at least the last two financial years on the TB sheet but you will also need to include the balance sheet balances of a third year so that the cash flow calculations in the financial statements are accurate.
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The problem with rounding in financial statement terms is that a trial balance typically includes two decimal values while financial statements are typically compiled to the nearest integer value. When two amounts that contain decimal values are rounded and added, the result is not necessarily the same as the rounded value of the total but if the decimal values are rounded to the nearest integer value and then added, the total that is calculated is guaranteed to be accurate. This approach is followed in the calculations in column E on the TBImport sheet in that the trial balance amounts in column C are rounded to the nearest integer value in column E. If you therefore use the TBImport sheet to round all the amounts on the trial balance to the nearest integer values before correcting any rounding differences that may exist and copying & pasting the values onto the TB sheet, your financial statements are guaranteed to be accurate. We therefore recommend always using the TBImport sheet before including the appropriate trial balance amounts for a new financial period on the TB sheet.
Financial Information
The FinInfo sheet contains the financial information that needs to be included in our standard financial statements but can typically not be derived from the amounts on a trail balance. These values therefore need to be entered for each financial period that is included in the financial statements and for which a trial balance is therefore included on the TB sheet.
In terms of new and existing businesses and the addition of new columns, the same procedure that needs to be followed in order to add new columns to the TB sheet needs to be completed for the FinInfo sheet. Refer to the Trial Balance section of the instructions for guidance on how to amend the default columns and how to add new columns to this sheet.
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The annual financial statements are included on the AFS sheet. All the amounts that are included in the financial statements are calculated from the trial balance that is included on the TB sheet and the additional financial information that is included on the FinInfo sheet based on the reporting class codes that are included in column A on the AFS sheet. It is therefore imperative that you do not delete these codes (this column does not form part of the printed pages). The codes that are included in column A on the AFS sheet can be used to trace the appropriate amounts back to the source sheet. Codes that are displayed in orange text can be found on the FinInfo sheet (all these codes begin with a "F") and codes that are displayed in green text can be found on the TB sheet (all these codes begin with either an "I" for income statement or a "B" for balance sheet). Note: In some instances, multiple accounts on the Trial Balance may be linked to the same financial reporting class code. We recommend that you filter the TB sheet based on the appropriate code by using the filter feature in the column heading row in column A on the TB sheet. The totals that are displayed above the column headings are calculated by including only filtered data and should therefore agree to the appropriate amount on the financial statements. Where a reporting class consist of sub-codes, you will need to select all the codes that form part of the main code when filtering data. Note: All the financial statement reporting class codes are pre-defined - you should therefore not amend any of these codes because this will result in an amendment in the appropriate calculation which may lead to inaccuracies in the financial statement calculations. The standard financial statements on the AFS sheet do not require any user input but some amendments may be required in order to customize the standard financial statements for your business. For example, some of the notes to the financial statements may not be applicable to your business and the note numbers that are included in the yellow input cells next to the heading of the retained notes therefore may need to be amended. Note: We don't recommend deleting any of the contents on the AFS sheet because you will not be able to recover the data and some of the data may also affect other calculations on this sheet. If you therefore don't want to include any of the notes in your version of the financial statements, we recommend hiding the appropriate rows instead of deleting them. This will ensure that none of the other calculations are affected. Customizing the standard financial statements
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AFS Components
In this section of the instructions, we provide guidance on the information that is included in each section of the financial statements on the AFS sheet. One of the most important points to note is that the current and comparative periods are determined by the year that is specified in cell B16 on the Set-up sheet. Users therefore don't need to change the individual dates on the AFS sheet when compiling financial statements for a new period. Table of contents The business registration number and the total number of pages that is included in the notes to the financial statements row need to be specified on the Set-up sheet. The date of approval of the financial statements needs to be specified as part of the financial statement info on the FinInfo sheet. Statement of comprehensive income and retained earnings Revenue, other income, finance costs and income tax are calculated in the respective notes to the financial statements. Cost of sales, dividends paid and the default groups of expenses are calculated on the statement of comprehensive income and retained earnings. The reporting class codes for these calculations are included in column A and formatted in green text. Note: The income statement includes four default expense groups and the codes in column A indicate to which reporting class individual expense accounts should be linked in order to be included in these expense groups. Users can also change the description of the expense groups in column B in order to change the groups that are included in the income statement and also create additional groups if required.
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The cash equivalents at the beginning of the year are calculated based on the balance sheet movements of the cash & cash equivalents and bank overdraft lines. This is also an important point to note in terms of the closing cash balance the closing balance should agree to the cash & cash equivalents note (note 14) and includes the bank overdraft balance! Note: If the closing cash equivalents balances on the cash flow statement do not agree to the balances that are calculated in note 14, an error will be displayed in column K. This error is probably a result of an error with the retained earnings balances but could also be attributed to changes that the user has made to the cash flow statement. We recommend that you check the accuracy of all the changes that have been made to the template in order to resolve the error. Note: A retained earnings imbalance can also result in an error on the cash flow statement. This will only occur if the retained earnings balance at the beginning of the period plus the net profit or loss for the period does not equal the retained earnings balance at the end of the period. If this is the case, it probably means that an amount has been allocated to the retained earnings account that should not have been. The retained earnings account should therefore be investigated and any incorrect allocations should be reallocated to the correct account. Notes to the financial statements This section deals with all the default notes that have been added to the financial statements. It is imperative that users review all the default notes in order to ensure that all the information that is included in the default notes are applicable to their businesses. Users may also need to add additional disclosure to this section of the financial statements and it is imperative that any changes that are made are incorporated correctly within the existing template structure, otherwise the amended financial statements may contain errors!
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This note provides for two default trade receivable categories namely trade debtors and prepayments. The codes that are formatted in green text in column A are used to calculate the appropriate balances that need to be included in these rows. All the accounts that are linked to these codes on the TB sheet will therefore be included in these calculations. The amounts that are due by related parties need to be specified on the FinInfo sheet next to the "F-RELDB" reporting code. These amounts are then deducted from the trade debtors amount and included in a separate row. Note: You can add additional items if required by simply entering the appropriate number of new reporting codes in column A, linking the new reporting codes to the appropriate accounts on the trial balance, copying the formulas from the Prepayments row and ensuring that the total calculations are accurate. Cash and cash equivalents The cash and cash equivalents balances are calculated based on the reporting codes that are included in column A. All the accounts that are linked to these codes on the TB sheet will be included in these calculations. All cash on hand accounts like petty cash and cash floats should be linked to the "B-CASH" reporting code and all bank accounts that are not in overdraft should be linked to the "B-BANK" code. The sum of these two calculations is included in the balance sheet under current assets. All bank accounts that are in overdraft should be linked to the "B-OVD" reporting code. The balances that are calculated in this row are included on the balance sheet under current liabilities and deducted from the current asset calculation in order to determine the net cash and cash equivalents amount. This amount must agree to the cash balance at the end of the appropriate period that is calculated on the cash flow statement. Note: The information about the security that is provided for the bank overdraft and the interest rates that are in effect are provided as an example. You should therefore review these details and amend the text to what is applicable to your bank overdraft. Share Capital The opening and closing share capital balances are calculated based on the accounts on the trial balance that have been linked to the "B-SCAP" reporting class and the shares issued amounts are calculated by deducting the appropriate opening balance from the appropriate closing balance. The number of fully paid shares in issue and the number of authorised shares need to be specified on the FinInfo sheet next to the "F-SCPAID" and "F-SCAUTH" reporting codes. The par values of the shares are calculated by dividing the share capital balances by the number of fully paid shares. Loans The long term loan balances are calculated based on the accounts that have been linked to the "B-LOAN" reporting class on the trial balance. The short term portion of long term loans needs to be entered on the FinInfo sheet next to the "FLOANST" reporting code and these amounts are then deducted from the long term loan balances. The long term portion of the long term loans are included under the non-current liabilities on the balance sheet while the short term portion of long term loans are included under current liabilities on the balance sheet. Note: The information about the security that is provided for the long term loans and the interest rates that are in effect are provided as an example. You should therefore review these details and amend the text to what is applicable to your long term loans.
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The non-current finance lease balances are calculated based on the accounts that have been linked to the "B-FLEASE" reporting class on the trial balance. The current portion of finance leases needs to be entered on the FinInfo sheet next to the "F-LEASEST" reporting code and these amounts are then deducted from the non-current finance lease balances. The non-current portion of the finance leases are included under the non-current liabilities on the balance sheet while the current portion of finance leases are included under current liabilities on the balance sheet. The finance leases note also requires that the future finance lease repayments be split into three ageing categories namely less than one year, greater than one year but less than 5 years and greater than 5 years. These amounts need to be entered on the FinInfo sheet next to the "F-FLEASEP1", "F-FLEASEP2" and "F-FLEASEP3" reporting classes. Note that the full lease payments should be included in these totals and not just the capital portions of the finance lease repayments. Commitments under operating leases The operating lease commitments that have been recognised as an expense during the current and comparative periods need to be entered on the FinInfo sheet next to the "F-OLEASEXP" reporting code. The average lease period also needs to be specified next to the "F-OLEASEAP" code. In addition, future operating lease payments that have been contracted need to be disclosed in the same ageing categories that have been covered under the finance lease section. These totals also need to be entered on the FinInfo sheet next to the "F-OLEASEP1", "F-OLEASEP2" and "F-OLEASEP3" reporting codes. Trade and other payables This note provides for two default trade payables categories namely trade payables and accrued expenses. The codes that are formatted in green text in column A are used to calculate the appropriate balances that need to be included in these rows. All the accounts that are linked to these codes on the TB sheet will therefore be included in these calculations. The amounts that are due to related parties need to be specified on the FinInfo sheet next to the "F-RELCR" reporting code. These amounts are then deducted from the trade payables amount and included in a separate row. Note: You can add additional items if required by simply entering the appropriate number of new reporting codes in column A, linking the new reporting codes to the appropriate accounts on the trial balance, copying the formulas from the Accrued Expenses row and ensuring that the total calculations are accurate. Provisions The opening and closing balances for provisions in the Total column are calculated based on the accounts on the trial balance that have been allocated to the "B-PROV" reporting code. The additions, charges and reversals for the year in the same column are calculated by adding the amounts in the three provision category columns. The default provisions note includes three provision categories in three separate columns. The opening and closing balances in the first column are calculated based on the amounts that are entered next to the "F-PROV1" reporting code on the FinInfo sheet. The opening and closing balances of the second column are calculated based on the amounts that are entered next to the "F-PROV2" reporting code on the FinInfo sheet.
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Troubleshooting
If after linking your trial balance to the appropriate financial statement reporting codes the balance sheet is not in balance, complete the following steps in order to resolve the imbalance: Check that the appropriate totals above the column headings on the TB sheet are nil. If your trial balance does not balance, your balance sheet will also not balance. Check whether there are any cells in column A on the TB sheet that are formatted with a red cell background. If a cell contains a reporting code and the cell is formatted in red, it means that the reporting code is not included in the financial statements on the AFS sheet. If a cell contains a red cell background and the cell is blank, it means that a reporting code needs to be entered in the cell. If you've added new reporting codes to the financial statements, ensure that these codes are all linked to the correct accounts. Also ensure that all the affected totals on the AFS sheet incorporate the rows that you've added. If some of the calculations on the AFS sheet contain a #REF! error, it means that you've deleted cells that form part of the financial statement calculations. In order to resolve this issue, you will have to undo the delete action or revert back to a previous saved version of the template. Remember, we recommend hiding the appropriate sections of the financial statements instead of deleting them. Review all the notes that contain multiple columns and check that you have not allocated any accounts to columns that may have been cleared. All allocations that end with a "1" will be included in the first column, all allocations that end with a "2" will be included in the second column and all allocations that end with a "3" will be included in the third column.
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Class
I-REVS I-REVO I-OTIDV I-OTIPP I-OTIM I-COS I-DIS I-ADV I-ADM I-OTX I-OTXPP I-OTXXL I-FIN I-TAX I-DIV B-PPEC1 B-PPEC2 B-PPEC3 B-PPED1 B-PPED2 B-PPED3 B-IPA1 B-IPA2 B-IPA3 B-IPC1 B-IPC2 B-IPC3 B-VEST B-DTAX B-INVFG B-INVRM B-INVWP B-DEBT B-DEBP B-CASH B-BANK B-BOVD B-SCAP B-RET B-LOAN B-FLEASE B-CREDT B-CREDA B-PROV B-INT B-DIV B-TAX
Description
Sale of goods Other revenue Dividends received Gain on disposal of property, plant & equipment Miscellaneous Cost of sales Distribution costs Advertising & marketing costs Administrative expenses Other expenses Loss on disposal of property, plant & equipment Foreign exchange (gains) / losses Finance costs Income tax expense Dividends Property, plant & equipment - Cost - Column 1 Property, plant & equipment - Cost - Column 2 Property, plant & equipment - Cost - Column 3 Property, plant & equipment - Accumulated depreciation - Column 1 Property, plant & equipment - Accumulated depreciation - Column 2 Property, plant & equipment - Accumulated depreciation - Column 3 Intangible assets - Accumulated amortisation - Column 1 Intangible assets - Accumulated amortisation - Column 2 Intangible assets - Accumulated amortisation - Column 3 Intangible assets - Cost - Column 1 Intangible assets - Cost - Column 2 Intangible assets - Cost - Column 3 Investments Deferred tax Finished goods Raw materials Work in progress Trade debtors Prepayments Cash on hand Cash at bank Bank overdraft Share capital Retained earnings at start of year Long term loans Finance leases Trade payables Accrued expenses Provisions Interest payable Dividends payable Current tax liability
Income Statement
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Class
B-PPEC1 B-PPEC2 B-PPEC3 B-PPED1 B-PPED2 B-PPED3 B-IPC1 B-IPC2 B-IPC3 B-IPA1 B-IPA2 B-IPA3 B-VEST B-CASH B-BOVD B-BANK B-DEBT B-DEBP B-INVRM B-INVWP B-INVFG B-CREDT B-CREDA B-INT B-TAX B-DIV B-PROV B-LOAN B-FLEASE B-DTAX B-SCAP B-RET I-REVS I-REVO I-OTIM I-OTIDV I-OTIPP I-COS I-DIS I-ADV I-ADM I-FIN I-TAX I-OTX I-OTXXL I-OTXPP I-DIV
Acc No
BS-100 BS-105 BS-110 BS-150 BS-155 BS-160 BS-200 BS-205 BS-210 BS-250 BS-255 BS-260 BS-270 BS-300 BS-305 BS-310 BS-500 BS-510 BS-600 BS-605 BS-610 BS-700 BS-705 BS-710 BS-715 BS-720 BS-730 BS-800 BS-810 BS-900 BS-950 BS-990 IS-100 IS-105 IS-150 IS-155 IS-160 IS-200 IS-305 IS-310 IS-315 IS-600 IS-650 IS-700 IS-705 IS-710 IS-900
Account Description
Land & Buildings - Cost Plant & Equipment - Cost Furniture & Fittings - Cost Land & Buildings - Accum Depreciation Plant & Equipment - Accum Depreciation Furniture & Fittings - Accum Depreciation Goodwill - Cost Trademarks - Cost Software - Cost Goodwill - Accum Amortization Trademarks - Accum Amortization Software - Accum Amortization Investments Petty Cash Bank Overdraft Bank Accounts Trade Debtors Prepayments Raw Materials Work in progress Finished goods Trade Creditors Accruals Interest Payable Taxation Provision Dividends Payable Provision for Bonuses Long Term Liabilities Finance Leases Deferred Tax Share Capital Retained Earnings - Opening Balance Sales Royalties Other Income Dividends Received Profit on Disposal of Assets Cost of Sales Distribution Costs Advertising & Marketing Administration Expenses Interest Paid Taxation Paid Other Expenses Foreign Exchange Loss Loss on Disposal of Assets Dividends Paid
2009
1,900,000.00 794,677.00 160,000.00 -360,000.00 -182,675.00 -26,000.00 50,000.00 27,500.00 8,500.00 -15,000.00 -5,000.00 -4,250.00 107,500.00 3,478.00 -20,435.00 15,000.00 679,044.00 42,190.00 32,892.00 1,800.00 10,358.00 -335,190.00 -55,000.00 -173,211.00 -80,000.00 -211,637.00 -250,000.00 -82,931.00 2,155.00 -30,000.00 -1,756,159.00 -4,920,788.00 -100,000.00 -5,000.00 -25,000.00 3,755,262.00 76,830.00 65,200.00 523,980.00 45,390.00 167,290.00 75,210.00 3,100.00 10,920.00 80,000.00
2010
1,900,000.00 1,102,045.00 180,000.00 -390,000.00 -228,590.00 -42,000.00 50,000.00 27,500.00 18,500.00 -20,000.00 -7,500.00 -8,950.00 132,500.00 2,075.00 -115,507.00 33,000.00 728,381.00 45,478.00 36,450.00 900.00 10,570.00 -348,520.00 -67,000.00 -1,200.00 -190,316.00 -100,000.00 -214,870.00 -260,000.00 -64,508.00 2,912.00 -40,000.00 -2,003,765.00 -5,688,650.00 -120,000.00 -25,000.00 4,422,575.00 79,700.00 77,100.00 660,389.00 36,712.00 189,559.00 92,690.00 7,340.00 100,000.00
2011
1,950,000.00 1,346,045.00 210,000.00 -420,000.00 -278,100.00 -58,000.00 50,000.00 39,500.00 18,500.00 -50,000.00 -11,450.00 -13,650.00 142,500.00 2,700.00 -83,600.00 47,000.00 728,788.00 56,760.00 42,600.00 1,140.00 13,640.00 -275,030.00 -79,500.00 -2,000.00 -271,647.00 -150,000.00 -214,823.00 -250,000.00 -44,624.00 -4,309.00 -45,000.00 -2,171,350.00 -6,743,544.00 -120,000.00 -27,000.00 -61,850.00 5,178,530.00 97,460.00 78,090.00 810,230.00 26,366.00 278,868.00 100,500.00 1,000.00 5,260.00 150,000.00
2012
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Class
F-APPDATE F-INTREC F-LOANNEW F-DEPR1 F-DEPR2 F-DEPR3 F-LINT F-TAX% F-PPEDC1 F-PPEDC2 F-PPEDC3 F-PPEI1 F-PPEI2 F-PPEI3 F-PPEDD1 F-PPEDD2 F-PPEDD3 F-PPELA F-IPI1 F-IPI2 F-IPI3 F-DTAX1 F-DTAX2 F-RELDB F-SCPAID F-SCAUTH F-LOANST F-FLEASEP1 F-FLEASEP5 F-FLEASEP9 F-LEASEST F-OLEASEAP F-OLEASEXP F-OLEASEP1 F-OLEASEP5 F-OLEASEP9 F-RELCR F-PROV1 F-PROV2 F-PROVAD1 F-PROVAD2 F-PROVAD3 F-PROVRV1 F-PROVRV2 F-PROVRV3 F-REMUN
Description
Approval date of financial statements Interest received Proceeds from new loans Depreciation rate - Buildings Depreciation rate - Plant & Equipment Depreciation rate - Furniture & Fixtures Interest paid on finance leases Income tax percentage Land & Buildings - Disposals - Cost Plant & Equipment - Disposals - Cost Furniture & Fittings - Disposals - Cost Land & Buildings - Impairment Fixtures & Equipment - Impairment Furniture & Fittings - Impairment Land & Buildings - Disposals - Accum Depr Plant & Equipment - Disposals - Accum Depr Furniture & Fittings - Disposals - Accum Depr Carrying amount of leased assets Goodwill - Impairment Trademarks - Impairment Software - Impairment Deferred tax - Trademarks Deferred tax - Software Amounts due by related parties Number of full paid shares Number of authorized shares Current portion of long term loans Minimum finance lease payments: < 1 year Minimum finance lease payments: 1 - 5 years Minimum finance lease payments: > 5 years Current portion of finance leases Operating lease average period Operating lease expenses for the year Minimum operating lease payments: < 1 year Minimum operating lease payments: 1 - 5 years Minimum operating lease payments: > 5 years Amounts due to related parties Provision 1 - Claims - Balance Provision 2 - Leave - Balance Provision 1 - Claims - Additions Provision 2 - Leave - Additions Provision 3 - Bonuses - Additions Provision 1 - Claims - Reversals Provision 2 - Leave - Reversals Provision 3 - Bonuses - Reversals Total remuneration of directors & management
2009
3/15/2009 30,000.00 3,000.00 50,000.00 2.0% 20.0% 16.7% -7,205.00 28.00 -88,000.00 -62,000.00 80,000.00 2,800.00 1,700.00 3,000.00 30,000.00 100,000.00 50,000.00 25,000.00 75,000.00 18,423.00 3.00 12,500.00 12,000.00 28,000.00 5,000.00 50,000.00 71,200.00 32,000.00 70,300.00 90,437.00 -8,000.00 -50,000.00 -1,500.00 284,300.00
2010
3/18/2010 20,000.00 4,200.00 40,000.00 2.0% 20.0% 16.7% -6,577.00 28.00 -50,000.00 -40,000.00 60,000.00 3,700.00 1,020.00 5,000.00 40,000.00 100,000.00 100,000.00 25,000.00 50,000.00 19,884.00 3.00 13,400.00 12,000.00 30,000.00 8,000.00 54,300.00 61,500.00 58,900.00 60,600.00 99,070.00 -9,200.00 -45,300.00 -2,400.00 311,700.00
2011
3/20/2011 45,000.00 5,100.00 20,000.00 2.0% 20.0% 16.7% -5,116.00 28.00 -241,000.00 -6,000.00 10,000.00 30,000.00 3,000.00 -204,850.00 -5,000.00 40,000.00 25,000.00 3,100.00 340.00 8,000.00 45,000.00 100,000.00 10,000.00 25,000.00 25,000.00 21,461.00 3.00 11,850.00 12,000.00 24,000.00 12,000.00 61,800.00 82,650.00 61,000.00 81,010.00 70,373.00 -7,800.00 -53,600.00 -1,900.00 362,900.00
2012
3/20/2012 2.0% 20.0% 16.7% 28.00 -
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Table of contents
Statement of comprehensive income and retained earnings Statement of financial position Statement of changes in equity Statement of cash flows Accounting policies and explanatory notes to the financial statements
Page
2 3 4 5 6 - 12
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ABC Trading (Pty) Limited Statement of comprehensive income and retained earnings for the year ended 28 February 2011 Notes 2011
R
2010
R
Revenue Cost of sales Gross profit Other income Distribution costs Advertising & marketing costs Administrative expenses Other expenses Finance costs Profit / (Loss) before tax Income tax expense Profit / (Loss) for the year Retained earnings at start of year Dividends Retained earnings at end of year
5 6 7
6,863,544 (5,178,530) 1,685,014 88,850 (97,460) (78,090) (810,230) (106,760) (26,366) 654,958 (278,868) 376,090 2,171,350 (150,000) 2,397,440
5,808,650 (4,422,575) 1,386,075 25,000 (79,700) (77,100) (660,389) (100,030) (36,712) 457,144 (189,559) 267,585 2,003,765 (100,000) 2,171,350
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