Financials202006

Financials June 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: £21,165.62

• Current Account: £18,524.32
• Petty Cash (approximate): £199.75
• Paypal: £353.99
• Deposit Account: £2,087.56

Liabilities: £28,602.50

• Out of Hours Deposits (approximate): £4,800.00
• Business Rates: £23,802.50

Money Owed: £975.00

• Outstanding Invoices 20th July: £975.00

Notes of interest

We seem to be stablising now having made a good profit, although more than half of this has come from the discretionary COVID-19 grant. Our liabilities have shot up now because I've remembered to add the latest rates bill, and we have started making payments for the rates but unfortunately it won't show below as it's an existing bill, it will just show as the liabilities above start coming down.

Income/Outgoings

Turnover: £4,663.00

• Sales: £4,663.00

add Other Income: £2,864.00

• Grant Income: £2,864.00
  • Discretionary COVID-19 Grant: £2,500.00

less Cost of Sales: £15.00

• Materials: £15.00

less Admin Expenses: £2,945.00

• Office Costs: £883.00
  • Electricity (May usage): £314.93
• Rent: £1,740.00
• Web Hosting: £129.00
• Internet & Telephone: £126.00
• Bank/Finance Charges: £67.00

less Staff Costs: £484.00

• Salaries: £484.00

Operating Profit: £4,083.00

Generated from a FreeAgent report exported on 2020-07-21 20:13:01 +0100, also summary financial-summary-202006.yaml

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