Sample · fictional company
Oakridge Interiors Ltd
Management accounts for August 2026 · Year ending 31 March 2027White-labelDelivered under your practice's name
£84,250+5.3% vs budget
41.0%Budget 42.0%
£8,670+£970 vs budget
23July: 26
Summary
- Revenue of £84,250 was £4,250 (5.3%) ahead of budget, mainly from two fit-out projects completed in August.
- Gross margin was 41.0% against a budget of 42.0%: subcontractor costs on one project ran over, so cost of sales was £3,310 above budget.
- Overheads of £25,870 were in line with budget. Lower marketing spend offset higher staff costs.
- Operating profit was £8,670, £970 ahead of budget; year to date £33,250, £1,050 ahead.
- Cash at bank was £27,840 after paying the quarterly VAT return of £13,140 on 7 August.
- Two invoices over 60 days old total £4,180 and have been chased.
Profit and loss
| £ | Aug actual | Aug budget | Fav / (adv) | YTD actual | YTD budget | Fav / (adv) |
|---|---|---|---|---|---|---|
| Revenue | 84,250 | 80,000 | 4,250 | 391,600 | 385,000 | 6,600 |
| Cost of sales | 49,710 | 46,400 | (3,310) | 228,900 | 223,300 | (5,600) |
| Gross profit | 34,540 | 33,600 | 940 | 162,700 | 161,700 | 1,000 |
| Gross margin | 41.0% | 42.0% | 41.5% | 42.0% | ||
| Staff costs | 15,800 | 15,500 | (300) | 78,400 | 77,500 | (900) |
| Rent and rates | 4,200 | 4,200 | 0 | 21,000 | 21,000 | 0 |
| Marketing | 2,150 | 2,500 | 350 | 11,350 | 12,500 | 1,150 |
| Software and IT | 980 | 900 | (80) | 4,800 | 4,500 | (300) |
| Professional fees | 1,100 | 1,000 | (100) | 6,200 | 5,000 | (1,200) |
| Other overheads | 1,640 | 1,800 | 160 | 7,700 | 9,000 | 1,300 |
| Total overheads | 25,870 | 25,900 | 30 | 129,450 | 129,500 | 50 |
| Operating profit | 8,670 | 7,700 | 970 | 33,250 | 32,200 | 1,050 |
Balance sheet at 31 August 2026
| Fixed assets | 38,400 |
| Stock | 22,750 |
| Trade debtors | 61,300 |
| Other debtors and prepayments | 4,900 |
| Cash at bank | 27,840 |
| Trade creditors | (31,200) |
| VAT | (14,650) |
| PAYE and NI | (5,420) |
| Accruals | (6,300) |
| Corporation tax (2025/26) | (9,870) |
| Net current assets | 49,350 |
| Bank loan (over one year) | (18,000) |
| Net assets | 69,750 |
| Share capital | 100 |
| Retained earnings brought forward | 36,400 |
| Profit for the period (before tax) | 33,250 |
| Total equity | 69,750 |
No corporation tax has been provided on the current year's profit.
Bank reconciliation
| Balance per bank statement, 31 Aug 2026 | 31,415.60 |
| Less: BACS to supplier, 30 Aug | (3,240.00) |
| Less: Card payment pending, 31 Aug | (335.60) |
| Adjusted bank balance | 27,840.00 |
| Balance per ledger | 27,840.00 |
| Difference | 0.00 |
Both unpresented items cleared the bank on 1 September.
Query log
| Date | Query | Status |
|---|---|---|
| 14 Aug | Receipt of £1,250.00 from "J PATEL" not matched to an invoice. Posted to suspense: please confirm the customer. | With client |
| 19 Aug | Missing supplier invoice: Screwfix, £86.40. Requested through Dext. | With client |
| 22 Aug | Software subscription billed from Ireland: reverse charge applied. Please confirm the invoice shows no UK VAT. | Confirmed |
| 31 Aug | August electricity accrued at an estimated £420; bill not yet received. | For your review |
Prepared by: accountant, MDVB pod · 3 Sep 2026Reviewed by: CA partner, MDVB · 4 Sep 2026