Financials202005

Financials May 2020

A breakdown of our finances for the month.

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Summary

The following reflect the overall status of the finances at the end of the month.

Current Assets: £19,482.27

• Current Account: £17,089.51
• Petty Cash (approximate): £48.75
• Paypal: £256.45
• Deposit Account: £2,087.56

Liabilities: £19,422.00

• Out of Hours Deposits (approximate): £4,750.00
• Business Rates: £14,672.00

Money Owed: £1,025.00

• Outstanding Invoices 10th June: £1,025.00

Notes of interest

We had a better month this month, overall income from sales has gone up and we had less outstanding invoices when I checked. We did start paying out the visor money for materials and for people's time so that's why we made such a big loss. Hard to identify where the increased money from sales has come from but we've had a few people coming in to use the workshop and maybe even a few new memberships.

Income/Outgoings

Turnover: £4,256.00

• Sales: £4,256.00

add Other Income: £1,763.00

• Grant Income: £1,763.00

less Cost of Sales: £3,812.00

• Materials: £3,812.00

less Admin Expenses: £2,600.00

• Office Costs: £601.00
  • Electricity (April usage): £258.06
• Rent: £1,740.00
• Web Hosting: £97.00
• Computer Software: £34.00
• Internet & Telephone: £126.00
• Bank/Finance Charges: £2.00

less Staff Costs: £5,233.00

• Subcontractor Costs: £4,749.00
• Salaries: £484.00

Operating Profit: -£5,626.00

Generated from a FreeAgent report exported on 2020-06-16 20:15:48 +0100, also summary financial-summary-202005.yaml

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