Hi all
Received the following set of financials from our credit insurers, but to me these look incorrect. Can people have a look please?
31/12/2009 | 31/12/2010 | |
Turnover | 13 034 | 14 710 |
Non trading income | -91 | 29 |
Gross profit | 2 973 | 2 870 |
Total wages | 1 443 | 1 373 |
Depreciation | 76 | 70 |
Provisions addition/reduction | 0 | 0 |
Operating profit | 252 | 82 |
Interest paid | 48 | 43 |
Pre-tax profit before except. Result | 208 | 42 |
Dividend | 430 | 0 |
Retained Profit | 233 | 58 |
Intangible assets | 26 | 15 |
Financial assets | 15 | 15 |
Fixed assets | 257 | 218 |
Stocks | 1 195 | 983 |
Trade debtors | 114 | 92 |
Cash & securities | 471 | 545 |
Shareholders funds | 421 | 245 |
Long term debt | 65 | 111 |
Short term debt | 1 | 0 |
Trade creditors | 1 579 | 1 828 |
Balance sheet total | 2 499 | 1 828 |
Export turnover | 0.29 % | 40.85 % |
Interest cover | 529 | 196.86 |
Turnover absorbed | 0.372 % | 0.292 % |
Gearing ratio | 15 % | 45 % |
Stock turnover | 33 JC | 24 JC |
Debtor days | 3 JC | 2 JC |
Creditor days | 43 JC | 44 JC |
Working capital | 402 | 138 |
Working capital requirement | -67 | -407 |
Acid test | 0.01 | 0.01 |
Added value rate | 13.53 % | 10.03 % |
Profit margin | 1.7 % | 0.3 % |
Cash flow | 285 | 113 |
Number of Employees | 47 | 0 |
It just seems littered with errors, Presumably there's some lines missing in the balance sheet, such as other debtors, which could explain why some things don't seem to ass up properly such as balance sheet total. But a lot of this looks contradictory! Pre tax profit in 2009 of 208 with 430 dividends, producing a higher retained profit! Then shareholders funds down massively in 2010 despite a retained profit! I've got a conference call with the people that have supplied the figures to me on Monday. Should I give them short shrift?
Thanks in advance for your comments, and don't be shy
Replies (1)
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Incomplete figures
It seems to be pre-tax before exceptionals, I suppose the exceptionals could be large credits?
There certainly seems to be figures missing.