Insight into Premier Suites Ltd Financial Statements of 31 December 2020
What are the key figures in Premier Suites Ltd financial statements for the year ended 31 December 2020?
Premier Suites Ltd Financial Statements Overview:
Revenue: $239,000
Cost of Sales: ($194,000)
Operating profit before taxation: $45,000
Income tax expense: ($9,500)
Profit for the Year: $35,500
Assets:
Non-current assets: $316,200
Current assets: $93,000
Total Assets: $409,200
Equity and Liabilities:
Capital and reserves: $381,000
Current liabilities: $28,200
Total Equity and Liabilities: $409,200
Details on Premier Suites Ltd Financials:
Revenue and Profit: Premier Suites Ltd reported revenue of $239,000 for the year 2020. After deducting the cost of sales, the company achieved an operating profit of $45,000 before taxation. Despite incurring an income tax expense of $9,500, the company managed to generate a profit of $35,500 for the year.
Asset Position: Premier Suites Ltd's asset position as of 31 December 2020 shows significant non-current assets totaling $316,200, along with current assets totaling $93,000. The total assets for the company amount to $409,200, reflecting a stable financial base.
Equity and Liabilities: In terms of equity and liabilities, the company has capital and reserves amounting to $381,000. This is complemented by current liabilities of $28,200, resulting in a balanced total equity and liabilities of $409,200 for Premier Suites Ltd.
Insights into Premier Suites Ltd's Financial Health:
From the financial statements provided, Premier Suites Ltd appears to have a strong asset base supported by a healthy revenue generation and profit margin. The company's financial position indicates stability and potential for growth in the future.
By analyzing the key figures such as revenue, profit, assets, and liabilities, stakeholders can gain valuable insights into Premier Suites Ltd's financial performance and make informed decisions regarding investments or partnerships with the company.