CHAPTER 11


Balance Sheet of Cassidy plc as at 31/12/2008 €


€


Fixed Assets Intangible Assets Tangible Assets Financial Assets


[2] [2]


Patents are Intangible Assets 50,000 - 10,000


€ 40,000


1,000,000 [1]


150,000 1,190,000


Current Assets Stock


Debtors Bank


Land and Buildings, and Vehicles are Tangible Assets. This is NBV (Cost less Depreciation). 800,000 + 250,000 - 25,000 - 25,000


Investments are Financial Assets.


[1] [3] 85,000 [1]


248,000 50,000


Creditors: Amounts falling due within 1 year Trade Creditors Taxation Due


[3] [2] Other Creditors Net Current Assets Total Assets Less Current Liabilities


Creditors: Amounts falling due after more than 1 year Debentures


Capital and Reserves Issued Shares


Revaluation Reserve Profit Carried Forward


[2] [3] [1]


600,000 170,000 149,000


919,000 1,169,000


Other Creditors


Debenture Interest Due (250,000 @ 8% = 20,000 – 17,000 paid)


Auditor’s Fees Director’s Fees


3,000 10,000


45,000 58,000


Increase in Revaluation Depreciation 01/01/2012


Depreciation 31/12/2012 (7,000 + 28,000)


100,000 35,000


35,000 170,000


[3]


250,000 96,000 58,000


(404,000) (21,000) 1,169,000 [2] 250,000 Ordinary + Preference


Taxation Due Corporation Tax VAT


48,000


48,000 96,000


383,000


Debtors Debtors


Less Bad Debt Provision


Investment Income Due (150,000 @10% = 15,000 – 10,000 received)


270,000 (27,000)


5,000 248,000 11


157


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