Interpret the following financial statements of Clariton Antiques Ltd using appropriate ratios (Solvency, liquidity, profitability, gearing, asset utilization) and mak comparison with the previous year?
| Income statement |
|
|
|
|
|
|
2016 |
2015 |
|
|
|
000 |
000 |
|
|
|
|
|
| Revenue |
|
|
1,255 |
1,220 |
| cost of sales |
|
(1,077) |
(1,045) |
| Gross profit |
|
178 |
175 |
| Operating expenses |
|
(121) |
(129) |
| Profit from operations |
|
57 |
46 |
| Finance cost |
|
(10) |
(10) |
| Profit before tax |
|
47 |
36 |
| Income tax expense |
|
(14) |
(13) |
| Profit for the period |
|
33 |
23 |
|
|
|
|
|
|
|
|
|
|
| Statement of changes |
|
|
|
|
|
|
2015 |
2014 |
|
|
|
000 |
000 |
|
|
|
|
|
| Opening balance |
|
276 |
261 |
| profit for the period |
|
33 |
23 |
| Dividend |
|
|
-8 |
-8 |
| Closing balance |
|
301 |
276 |
|
|
|
|
|
|
|
|
|
|
| Balance sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Assets |
|
|
|
|
|
Property, plant and equipment |
580 |
575 |
|
|
Goodwill |
100 |
100 |
|
| Total non-current assets |
680 |
675 |
|
|
|
|
|
|
|
Inventories |
47 |
46 |
|
|
Trade receivables |
12 |
13 |
|
|
Cash |
46 |
12 |
|
| Total current assets |
105 |
71 |
|
|
|
|
|
|
| Total assets |
785 |
746 |
|
|
|
|
|
|
|
|
|
|
|
| Equity |
|
|
|
|
|
Share capital |
150 |
150 |
|
|
Accumulated profits |
151 |
126 |
|
| Total equity |
301 |
276 |
|
|
|
|
|
|
|
Interest on borrowings |
142 |
140 |
|
|
Deferred tax |
25 |
21 |
|
| Total non-current liabilities |
167 |
161 |
|
|
|
|
|
|
|
Trade payable |
297 |
273 |
|
|
Short term borrowings |
20 |
36 |
|
| Total current liabilities |
317 |
309 |
|
|
|
|
|
|
| Total equity and liabilities |
785 |
746 |
|
|