Results Q2 2023
We present the results for Q2 2023, including a Profit and Loss Accrual statement and Cash based statement to look deeper into all number together.
"Accrual accounting provides a more accurate picture of a company’s financial position. However, many small businesses use cash accounting because it is less confusing."
"Accrual accounting is a financial accounting method that allows a company to record revenue before receiving payment for goods or services sold and record expenses as they are incurred.
In other words, the revenue earned and expenses incurred are entered into the company's journal regardless of when money exchanges hands. Accrual accounting is usually compared to cash basis of accounting, which records revenue when the goods and services are actually paid for."
"Accrual accounting provides a more accurate picture of a company’s financial position. However, many small businesses use cash accounting because it is less confusing."
"Accrual accounting is a financial accounting method that allows a company to record revenue before receiving payment for goods or services sold and record expenses as they are incurred.
In other words, the revenue earned and expenses incurred are entered into the company's journal regardless of when money exchanges hands. Accrual accounting is usually compared to cash basis of accounting, which records revenue when the goods and services are actually paid for."
Business Snap-Shot
Quick overview of the business results so far this year.
End June cash in hand GBP 585664
End June warehouse value GBP 475548
+ on the sea GBP 416500
End June China paid GBP 737392
End June China debt GBP 994315
End June cash in hand GBP 585664
End June warehouse value GBP 475548
+ on the sea GBP 416500
End June China paid GBP 737392
End June China debt GBP 994315
This is the ACRUAL Profit and Loss. Showing actual orders received, but also includes invoices to China not yet paid due to credit terms.
We have a stock value of around 600000 USD in the warehouses and 400000 USD on the way in containers.
Staff cost increase to be noted and discussed.
This is the CASH based Profit and Loss. Showing actual orders amount received and bills paid.
Warehouse costs to be noted and discussed.
Administrative costs to be discussed.
