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Virgin bed & breakfast - Essay Example

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The financial statement Name Institution The financial statement The virgin board continues to believe the appropriateness to assess performance that would be based on the underlying business profit. The underlying profit would exclude the non-recurring costs specifically the ones associated with the integration of virgin and B&B…
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Virgin bed & breakfast
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Download file to see previous pages There has been provided the analysis of the difference between the underlying profit and the statutory profit of the virgin bed and breakfast. The estimated profit with the tax of ?481m is ?110m. This recorded as being high because of the increased interest charged on the B&B working capital faculty and the government loan plus the size of lower balance sheet (Taparia, 2003 Pg. 38). Income statement information for the six months is restated according to an interim financial report that would provide consistence with the restatement in the 2013 annual reports and accounts for B&B and Virgin. Summary Income Statement 4 months to 30 May 2013 4 months to 30 may2012* 12 months to 31 December 2012 1000? 1000? 1000? Fundamental Net Interest Income Fundamental net non interest income** 723.1 900.9 1,722.4 39.0 14.7 36.5 Fundamental net operating Ongoing administrative Deficiency on loans and advances to customers Net deficiency on investment securities 637.3 816.4 1,533.4 (103.5) (104.5) (231.2) 7.3 3.2 57.5 Unrealized fair price movements on financial instruments Hedge vanity Other net administrative expenses - Provision for customer restore Gain on rebuying of capital instruments Profit on disposal of credit linked notes (43.9) (12.8) 79.2 (23.5) (34.4) (75.2) 3.1) (65.2) (65.0) - - - - 348.1 Statutory profit before taxation 347 550 1,298.2 The Virginia will apply some derivative financial equipment for economic purposes. Some of the instruments made and accounted for the compliant fair value. If the effective fair value is established, the movement fair value movement of the derivative is set in part or in full by the value of the edged instrument. In the virgin B&B, basis swaps are designated into a cash flow hedge. The active customer contact program for all unsecured loan payment protection is keenly observed. For the pest analysis, the Virgin has established some strongholds for its survival. Some established mechanisms of survival that would ensure that the virgin bed and breakfast would achieve its objectives. Several proposals have been made for the favour of the industry. Through the proposed functioning of the government departments and agencies, the virgin B&B would establish its objectives. The UK government has proposed some tax proposal that may be an increase of 5-10% that would make the UK one of the highest tax holiday destinations. This would cause a decrease for people coming into England but could increase our sales, as we will have prices below average. In addition to this, There could be an increase in travel to the UK which is due to exchange rates being low and thus and increase in customers for our B&B. Change of trends towards luxury hotels or camping and other alternative ways of travelling may influence our sales. In the side of technology, In the future, businessperson may require expensive technologies and consequently would not be able to provide all the essential facilities for our target customers needs. Balance Sheet Assets Q1 Ending 31st September 201 Q2 Q3 Q4 Cash/Overdraft 30,290.00 60,389.60 60,389.60 60,389.60 Total assets 30,290.00 60,389.60 60,389.60 60,389.60 And Stockholders' Equity Shareholder’s Capital 50,000. 50,000.00 50,000.00 50,000.00 Owners Equity 19,710.00 10,389.60 10,389.6 10,389.60 Total Liab 30,290.00 60,389.60 60,389.60 60,389.60 Bed & Breakfasts can have a great competitive advantage to the other Hotels in UK; this takes the advantage of ...Download file to see next pagesRead More
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