Trial balance for Environmend Support Co.

at 31 December 20X2
€
05-000-00-01 Revenue (13,794,261) <Refer to Statement of comprehensive income>
05-000-00-02 Cost of sales 4,022,526 <Refer to Statement of comprehensive income>
05-080-30-01 Profit: Sale of fixed assets (27,018) <Refer to Other income>
05-080-30-02 Interest received: Investments (673,896) <Refer to Other income>
05-200-70-01 Administration fees 537,796 <Refer to Admin costs>
05-201-40-01 Advertising & marketing 4,157,334 <Refer to Distribution costs>
05-202-30-01 Auditors remuneration 248,096 <Refer to Other expenses>
Computer expenses & consumables
05-220-60-01 17,630 <Refer to Admin costs>
05-222-50-01 Consultation fees 1,642,471 <Refer to Other expenses>
05-230-30-01 Depreciation: Equipment 60,694 <Refer to Other expenses>
05-230-30-02 Depreciation: Furniture 23,751 <Refer to Other expenses>
05-230-30-03 Depreciation: Hardware 106,769 <Refer to Other expenses>
05-230-30-04 Depreciation: Software 87,238 <Refer to Other expenses>
05-230-30-05 Depreciation: Vehicles 7,401 <Refer to Other expenses>
Depreciation: Leasehold
05-230-30-06 improvements 12,877 <Refer to Other expenses>
05-230-30-07 Directors remuneration 979,581 <Refer to Other expenses>
05-304-50-01 Repairs and maintenance 422,902 <Refer to Admin costs>
05-310-90-06 Salaries and wages 1,283,654 <Refer to Other expenses>
05-312-40-01 Stationary & printing 275,967 <Refer to Admin costs>
05-325-10-02 Travel and accommodation 483,532 <Refer to Other expenses>

05-500-00-01 Ordinary share capital (1,125,854) <Refer to Statement of financial position>

05-502-00-01 Share premium (421,480,306) <Refer to Statement of financial position>
05-510-00-01 Retained earnings (570,573) <Refer to Statement of changes in equity>
05-730-00-01 Loan to holding company 419,056,989 <Refer to Statement of financial position>
05-735-00-03 Long-term liability (8,232,800) <Refer to Statement of financial position>
05-735-00-11 Investment 10,000,000 <Refer to Statement of financial position>
05-735-00-12 Inventory 1,234,802 <Refer to Statement of financial position>
05-750-00-01 Furniture & fittings 68,804 <Refer to Statement of financial position>
Accumulated depreciation: Furniture
05-750-00-02 & fittings (18,342) <Refer to Statement of financial position>
05-751-00-01 Office equipment 165,899 <Refer to Statement of financial position>
Accumulated depreciation: Office
05-751-00-02 equipment (29,808) <Refer to Statement of financial position>
05-753-00-01 Computer equipment 144,637 <Refer to Statement of financial position>
05-754-00-01 Computer software 44,905 <Refer to Statement of financial position>
Accumulated depreciation:
05-754-00-02 Computer equipment & software (17,468) <Refer to Statement of financial position>
05-771-00-01 Prepayments 47,604 <Refer to Statement of financial position>
05-800-00-01 Bank & cash 169,253 <Refer to Statement of financial position>
05-801-00-01 Trade payables (1,972,121) <Refer to Statement of financial position>
05-885-00-10 Provision (140,000) <Refer to Statement of financial position>
05-905-00-01 Receiver of revenue (141,849) <Refer to Statement of financial position>
05-905-00-02 Trade receivables 2,921,186 <Refer to Statement of financial position>
Statement of profit or loss and other comprehensive income for Environmend Support Co. for the year ended 31 December 20X2

20X2

Revenue (13,794,261) <Refer to Trial balance>

Cost of sales 4,022,526 <Refer to Trial balance>
Gross profit (9,771,735)

Other income (700,915) <Refer to Other income>

Distribution costs 4,157,334 <Refer to Distribution costs>
Administrative expenses 1,254,296 <Refer to Admin costs>
Other expenses 4,936,063 <Refer to Other expenses>

Profit before tax (124,957)

Income tax expense 0

Profit for the year (124,957)

Other comprehensive income 0
Other comprehensive income for the 0
year, net of tax
Total comprehensive income (124,957)
Calculation of other income
Gains on disposal of property, plant and equipment
Finance income
€
(27,018) <Refer to Trial balance>
(673,896) <Refer to Trial balance>

Total (700,915) <Refer to Statement of comprehensive income>

tement of comprehensive income>
Administrative Costs
Administration fees
Repairs and maintenance
Stationary & printing
Computer expenses & consumables
Total
€
537,796 <Refer to Trial balance>
422,902 <Refer to Trial balance>
275,967 <Refer to Trial balance>
17,630 <Refer to Trial balance>
1,254,296 <Refer to Statement of comprehensive income>
mprehensive income>
Distribution Costs

€
Advertising & marketing 4,157,334 <Refer to Trial balance>

Total 4,157,334 <Refer to Statement of comprehensive income>

Other expenses
€
Auditors remuneration 248,096 <Refer to Trial balance>
Consultation fees 1,642,471 <Refer to Trial balance>
Depreciation: Equipment 60,694 <Refer to Trial balance>
Depreciation: Furniture 23,751 <Refer to Trial balance>
Depreciation: Hardware 106,769 <Refer to Trial balance>
Depreciation: Software 87,238 <Refer to Trial balance>
Depreciation: Vehicles 7,401 <Refer to Trial balance>
Depreciation: Leasehold
improvements 12,877 <Refer to Trial balance>
Directors remuneration 979,581 <Refer to Trial balance>
Salaries and wages 1,283,654 <Refer to Trial balance>
Travel and accommodation 483,532 <Refer to Trial balance>

Total 4,936,063 <Refer to Statement of comprehensive income>

Note: Depreciation and staff costs would be separately disclosed to the Statement of profit or
loss and other comprehensive income, either on the face, or in the notes.
Statement of financial position of Environmend Support Co. as at 31 December 20X2

20X2 Explanatory Notes

€
ASSETS

Non-current assets 10,406,230

Prepayments 47,604 <Refer to Trial balance> 8

Investment in shares 10,000,000 <Refer to Trial balance> 3
Property, plant and equipment 358,626 <Refer to Trial balance> 4

Current assets 423,382,231

Accounts receivable 2,921,186 <Refer to Trial balance> 5

Inventory 1,234,802 <Refer to Trial balance> 6
Bank & cash 169,253 <Refer to Trial balance> 7
Loan to holding company 419,056,989 <Refer to Trial balance> 2

TOTAL ASSETS 433,788,460

EQUITY/LIABILITIES

Equity (423,301,691)

Ordinary share capital (1,125,854) <Refer to Trial balance>

Share premium (421,480,306) <Refer to Trial balance>
Retained earnings (695,530)

Liabilities

Non-current Liabilities (8,232,800)

Long-term borrowings (8,232,800) <Refer to Trial balance> 9

Current liabilities (2,253,970)

Trade payables (1,972,121) <Refer to Trial balance> 10

Provision (140,000) <Refer to Trial balance> 11
Tax payable (141,849) <Refer to Trial balance> 12

TOTAL EQUITY/LIABILITIES (433,788,460)

-
 Preparer: [ ]
Reviewer: [ ]

Detail - Current View - Trial Balance 2261A (21/07/2003 08:50... *-Print-* : 10/14

Notes

{1} Please note that the prior year figures have not been provided for the sake of this exercise. Keep in
mind that IAS 1 requires that comparative figures are provided in financial statements.
Also note that a cash flow statement, as well as accounting policy and notes have also not been
provided for the sake of this exercise.

{2} Loan to holding company:

This amount represents a loan to the holding company dating back two years.
Interest is charged on the loan.

There is no set payback period for the loan and it is not expected to be realized within 12 months in
the notes to the financial statements. For this reason the loan has been classified as a non-current
asset.

{3} Investment in shares:

This investment represents shares purchased in an entity listed on the London Stock Exchange.
These shares were purchased in 20X1.
Management has no intention of selling the shares in the near-future. For this reason the
investment has been classified as a non-current asset.

{4} Property, plant and equipment:

Refer to the trial balance for a classification of the total amount.

Idion Technology Holdings Limited

05/25/2023 12:17:47
Period End: 31/12/2001
 Preparer: [ ]
Reviewer: [ ]

Detail - Current View - Trial Balance 2261A (21/07/2003 08:50... *-Print-* : 11/14

{5} Accounts receivable:

Represents amounts sold to customers during 20X2.
The credit terms are strictly 60 days.
A review of the receivables age analysis indicated an average receivables turnover rate of 58.7 days.

{6} Inventory:

Represents inventory used in projects on hand. As the entity is in the IT industry, inventory
comprises hardware and software used in these projects.
Inventory is only ordered once the project specifications and terms have been finalized (Just in time
system).

{7} Bank & Cash:

Represents amounts in local bank account (no restrictions on drawings), as well as petty cash (cash
in hand) used for everyday expenses.

{8} Prepayments:
Represents a 50% deposit for consultation fees. The service is to be delivered in February 20X3.

{9} Long-term borrowings:

Represents a loan from a local bank for set up costs in 20X0.

The loan is repayable over 15 years at an interest rate of 3.5%.
The short term payable in 20X3 is an amount of 806,500 Euro. (refer to note 10)

Idion Technology Holdings Limited

05/25/2023 12:17:47
Period End: 31/12/2001
 Preparer: [ ]
Reviewer: [ ]

Detail - Current View - Trial Balance 2261A (21/07/2003 08:50... *-Print-* : 12/14

{10} Trade payables:

Represents amounts owed to various suppliers for inventory and other expenditures during 20X3.
All credit terms range from 30-60 days.
This includes the short-term portion of the long-term liability.

{11} Provision:
This represents an amount owed to a supplier in terms of a court order in favor of the supplier.
The amount is payable on 28 February 20X3.
The provision meets the requirement of IAS 37 Provisions, contingent liabilities and assets.

{12} Tax payable:

Tax payable by 30 June 20X3.

Idion Technology Holdings Limited

05/25/2023 12:17:47
Period End: 31/12/2001
Statement of Changes in Equity of Environmend Support Co. as at 31 December 20X2

Share Capital Share Premium

€ €

Opening balance at 1 January 20X2 (1,125,854) (421,480,306)

Issue during period - -

Total comprehensive income for the year - -

Closing balance 31 December 20X2 (1,125,854) (421,480,306)

Retained Earnings Total
€ €

(570,573) (423,176,734)

- -
(124,957) (124,957)

(695,530) (423,301,691)