Financials202004

Financials April 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: £24,014.60

• Current Account: £21,658.07
• Petty Cash (approximate): £108.75
• Paypal: £160.22
• Deposit Account: £2,087.56

Liabilities: £19,422.00

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

Money Owed: £1,490.00

• Outstanding Invoices 10th May: £1,490.00

Notes of interest

COVID-19 lockdown has definitely kicked in now. Overall we've billed a lot less than for March and we see quite a few outstanding invoices. Bank account looks healthy due to money from visor project but most of this will go back out again. Attempting to remove the visor project income and costs brings the overal profit down to £375.79, Good that we still made a profit but from next month our business rates will start going out at £1467.50/month so that's going to start eating into any money we do bring in (although we still hope to get that down ultimately).

Income/Outgoings

Turnover: £3,523.00

• Sales: £3,523.00

add Other Income: £22,064.00

• Interest Received: £4.00
• Grant Income: £22,060.00

less Cost of Sales: £5,233.00

• Materials: £5,233.00

less Admin Expenses: £3,742.00

• Office Costs: £383.00
  • Electricity (March usage): £362.75
• Rent: £1,740.00
• Web Hosting: £88.00
• Computer Software: £43.00
• Computer Hardware: £540.00
• Office Equipment: £787.00
• Internet & Telephone: £156.00
• Bank/Finance Charges: £5.00

less Staff Costs: £1,725.00

• Subcontractor Costs: £758.00
• Salaries: £967.00

Operating Profit: £14,886.00

Generated from a FreeAgent report exported on 2020-05-19 19:45:37 +0100, also summary financial-summary-202004.yaml

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