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Just finished doing the year end accounts with our (awesome) accountants Vantis. We made £17k profit year ending March 2008. Buggered if I know where it is though. (Actually, it's on the balance sheet as retained earnings, but you know what I mean.) Our profit the year before was minus £84,000 so that's, you know, an improvement. Heh. Seriously, the minus £84000 came about because we had to put through a whacking great provision against returns of about £140,000. It also means that we have no tax to pay as the losses from last year carry over = good.
I know these results are quite old now (end of March seems a long time ago) but it's good to know that we're holding up against the storms. And I'm quietly hoping that next year (this year, I suppose) will be even better.
(Also, isn't it nice that I don't have to report these figures to a set of shareholders or City types. I doubt that saying 'buggered if I know where the profit is' to them would go down very well.)
Comments: 6
That's a cause for celebration - maybe you should take the rest of the day off and do day-off things. Here's to next years profits!
Posted by: fiona robyn on December 17, 2008 10:09 AM
Pardon me for prying, but is that after you've taken money out to pay yourself a wage?
Posted by: RobC on December 17, 2008 10:35 AM
Yes, Rob. It's a pretty small wage, though.
Posted by: Em on December 17, 2008 10:39 AM
A wage is a wage! I'm running a small business myself, but I'm still at the stage where any and all profits are my wages. Looking forward to the day when the company makes profit on top of a living wage – note this is not jealousy but appreciation of all things small-businessy and friendly.
Posted by: RobC on December 17, 2008 10:42 AM
Fantastic news. You might not know where it came from, but take it and run! ;-)
Posted by: S.Roit on December 17, 2008 09:35 PM
Well done! In the year ending to March 2007 we made a profit pre-tax, post-paying ourselves a small amount of £8k and I was very proud of that. In the days where so many companies are worrying about their borrowings it reassures me that growing steadily and organically is better than a big splash and lots of debt to worry about.
Hope the next lot of figures which I'm planning to look at after Christmas look as promising.
Posted by: Vanessa on December 18, 2008 10:40 AM