On my "Director's Report and Financial Statements" document for the company tax year ending December 2009, I was making an attempt to follow it through.
The document lists figures for 2009 against 2008 and looks like this (numbers anonymised):
____________________________________ 2009 ______ 2008
Turnover ___________________________ 90,000 _____ 80,000
Gross Profit _______________________ 30,000 _____ 60,000
Operating Profit ___________________ 10,000 _____ 50,000
Profit for Year _____________________ 8,000 _____ 40,000
Dividends __________________________ 20,000 _____ 15,000
Retained (loss)/profit for the year (12,000) ____ 25,000
Retained profit brought forward ____ 25,000 _____ -
Retained profit carried forward ____ 10,000 _____ 25,000
I'm not quite clear what it's saying... seems like I made a loss in 2009 but some 'uncounted' profit from 2008 was added on giving me an overall profit. How's that work, surely all profit in 2008 is accounted for when paying corporation tax for that year?
The document lists figures for 2009 against 2008 and looks like this (numbers anonymised):
____________________________________ 2009 ______ 2008
Turnover ___________________________ 90,000 _____ 80,000
Gross Profit _______________________ 30,000 _____ 60,000
Operating Profit ___________________ 10,000 _____ 50,000
Profit for Year _____________________ 8,000 _____ 40,000
Dividends __________________________ 20,000 _____ 15,000
Retained (loss)/profit for the year (12,000) ____ 25,000
Retained profit brought forward ____ 25,000 _____ -
Retained profit carried forward ____ 10,000 _____ 25,000
I'm not quite clear what it's saying... seems like I made a loss in 2009 but some 'uncounted' profit from 2008 was added on giving me an overall profit. How's that work, surely all profit in 2008 is accounted for when paying corporation tax for that year?
Comment