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1. Analyse the financial performance and the financial position of HomeCreate Plc over the period that Daniel has been chairman and chief executive.

Tip: Try to establish trends and calculate at least two ratios under each category. You may like to use diagrams/graphs to better communicate your message.

statement before daniel took over:

Income statement for the year ended 31^st December 2017

	000
Sales revenue	14,945
Cost of sales	(10,460)
Gross profit	4,485
Operating Expenses (Overheads)	(3,010)
Operating profit (PBIT)	1,475
Income from investments	100
Profit before taxation	1,575
Taxation	(315)
Profit for the year	1,260

A dividend of 800,000 was paid during the year.

Statement of financial position (balance sheet) as at 31^st December 2017

ASSETS	000
Non-current assets
Property plant and equipment (net of depreciation)
Premises	6,500
Fixtures, equipment and vehicles	1,450
	7,950
Long-term Trade investments	1,200
	9,150
Current assets
Inventories	1,750
Trade receivables	1,350
Bank	540
Total assets	3,630
EQUITY AND LIABILITES
Equity
Ordinary 1 shares	2,000
Retained earnings	9,870
	11,870
Current liabilities
Trade payables	910
Total equity and liabilities	12,780

statements after daniel took over:

Income statement for the year ended 31^st December

	2018	2019	2020
	000	000	000
Sales revenue	16,650	18,900	22,700
Cost of sales	(12,050)	(14,175)	(17,800)
Gross profit	4,600	4,725	4,900
Operating Expenses (Overheads)	(3,500)	(3,705)	(3,900)
Operating profit (PBIT)	1,100	1,020	1,000
Income from investments	100	100	-
Profit before taxation	1,200	1,120	1,000
Taxation	(240)	(224)	(200)
Profit for the year	960	896	800

Dividends remained at 800,000 per year throughout the period.

Statement of financial position (balance sheet) as at 31^st December

	2018	2019	2020
ASSETS	000	000	000
Non-current assets
Property plant and equipment (net of depreciation)
Premises	6,500	6,500	6,500
Fixtures, equipment and vehicles	1,580	1,800	2,420
	8,080	8,300	8,920
Long-term Trade investments at cost	1,200	1,200	-
	9,280	9,500	8,920
Current assets
Inventories	2,150	2,720	3,400
Trade receivables	1,800	2,310	3,000
Cash	120	-	-
	4,070	5,030	6,400
Total assets	13,350	14,530	15,320
EQUITY AND LIABILITES
Equity
Ordinary 1 shares	2,000	2,000	2,000
Retained earnings	10,030	10,126	10,126
	12,030	12,126	12,126
Non-current liabilities
Loan - (Repayable 20X9)	-	600	600
Current liabilities
Trade payables	1,320	1,600	1,920
Bank overdraft	-	204	674
	1,320	1,804	2,594
Total equity and liabilities	13,350	14,453	15,320