This coursework is worth 40% of your final mark and the assignment should be submitted through Turnitin by 1 pm on Thursday 10th December 2020

accounting

Description

      HRM in International Context

MMN624099

 

Coursework 2020/21: First Diet

 

This coursework is worth 40% of your final mark and the assignment should be submitted through Turnitin by 1 pm on Thursday 10th December 2020.  The report should be no longer than 1,000 words in length (excluding calculations in tables, reference list and appendices).

Background

 

MJ PLC is a Soft Drink manufacturer in the UK. The company’s Statement of Financial Position (Balance Sheet) and Income Statement (Profit and Loss) for 2020 and 2019 are shown below:

Statement of Financial Position as at 31st January

                                                                             2020                                    2019

 

£000’s

£000’s

£000’s

£000’s

NON-CURRENT ASSETS

 

   2,000

 

   1,900

CURRENT ASSETS

 

 

 

 

Inventory

   600

 

    500

 

Trade receivables

   600

 

    450

 

Cash

   200

 

    300

 

 

1,400

 

 1,250

 

CURRENT LIABILITIES

 

 

 

 

Trade payables

  (350)

 

   (190)

 

Other creditors

    (50)

 

     (70)

 

Accruals

  (200)

 

   (150)

 

Corporation tax

  (100)

 

   (140)

 

 

  (700)

 

   (550)

 

NET CURRENT ASSETS

 

      700

 

     700

NON-CURRENT LIABILITIES

Long-term Loans

 

 

     (900)

 

 

   (1100)

 

 

   1,800

 

   1,500

 

 

 

 

 

Ordinary share capital of £1 each

 

      500

 

      500

Retained profits

 

   1,300

 

    1,000

 

 

   1,800

 

    1,500

 

Income Statement for the year ended 31st January

                                                                               2020                             2019       

 

£000’s

£000’s

£000’s

£000’s

Revenue (all credit sales)

 

  5,000

 

 4,500

Less cost of sales ( all credit purchases)

 

 (3,500)

 

(3,200)

Gross profit

 

  1,500

 

 1,300

Operating expenses*

 (860)

 

 (750)

 

Depreciation

 (40)

 

 (50)

 

Total Expenses

 

   (900)

 

  (800)

OPERATING PROFIT

 

     600

 

    500

Interest

   (100)

 

   (150)

 

Corporation Tax

    (200)

 

   (100)

 

PROFIT AFTER TAX

 

     300

 

    250

Dividend –proposed

 

        0

 

       0

RETAINED PROFIT FOR YEAR

 

     300

 

    250

 

Number of Employees                                                 10                                       9

*Includes wages                                                           £300,000                          £260,000

 

 

 

 

Soft Drink Industry : Average Financials 2019


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