Page 4 - Quarterly Financial Report 2020
P. 4
Q 2020 impact from monitoring standard
The following summarises the effects on our Q 2020 results from an accounting standard adopted in
July ,2020 that changed the way our company is required to account for expenditures in strict margins % .
Sep-20 Aug-20 Jul-20 Jun-20 YTD
Income
Sales $281,463.27 $196,836.88 $165,600.01 $0.00 $643,900.16
Total Income $281,463.27 $196,836.88 $165,600.01 $0.00 $643,900.16
Less Cost of Sales
Cost of Goods Sold $14,861.09 $13,574.11 $15,619.58 $0.00 $44,054.78
Total Cost of Sales $14,861.09 5.28% $13,574.11 6.90% $15,619.58 9.43% $0.00 $44,054.78 6.84%
Gross Profit $266,602.18 $183,262.77 $149,980.43 $0.00 $599,845.38
Less Operating Expenses
Advertising $5,072.73 1.80% $690.90 0.35% $769.72 0.46% $0.00 $6,533.35 1.01%
Bank Fees $659.51 0.23% $746.08 0.38% $563.01 0.34% $0.00 $1,968.60 0.31%
Cleaning $609.10 0.22% $2,961.20 1.50% $1,489.37 0.90% $0.00 $5,059.67 0.79%
Commission $2,844.16 1.01% $1,529.62 0.78% $2,237.06 1.35% $0.00 $6,610.84 1.03%
Consulting & Accounting $4,300.00 1.53% $208.18 0.11% $8,250.00 4.98% $9,310.00 $22,068.18 3.43%
Council Rates $403.00 0.14% $2,927.20 1.49% $0.00 0.00% $0.00 $3,330.20 0.52%
Donations $68.18 0.02% $0.00 0.00% $0.00 0.00% $0.00 $68.18 0.01%
Entertainment $821.30 0.29% $188.82 0.10% $434.54 0.26% $0.00 $1,444.66 0.22%
General Expenses $470.85 0.17% $120.00 0.06% $1,008.81 0.61% $0.00 $1,599.66 0.25%
Insurance $6,424.61 2.28% $3,560.33 1.81% $9,009.80 5.44% $0.00 $18,994.74 2.95%
IT Purchase and Repair $4,605.82 1.64% $325.00 0.17% $1,059.73 0.64% $0.00 $5,990.55 0.93%
Legal expenses $0.00 0.00% $171.81 0.09% $730.00 0.44% $0.00 $901.81 0.14%
Light, Power, Heating $0.00 0.00% $0.00 0.00% $3,014.95 1.82% $7,663.13 $10,678.08 1.66%
Motor Vehicle Expenses $166.36 0.06% $0.00 0.00% $0.00 0.00% $0.00 $166.36 0.03%
Office Expenses $0.00 0.00% $66.32 0.03% $0.00 0.00% $0.00 $66.32 0.01%
Printing & Stationery $21.77 0.01% $94.42 0.05% $33.13 0.02% $0.00 $149.32 0.02%
Rent $0.00 0.00% $63.64 0.03% $0.00 0.00% $0.00 $63.64 0.01%
Repairs and Maintenance $1,808.37 0.64% $1,913.49 0.97% $7,063.89 4.27% $0.00 $10,785.75 1.68%
Special Project $3,500.00 1.24% $0.00 0.00% $0.00 0.00% $0.00 $3,500.00 0.54%
Subscriptions $1,062.44 0.38% $937.96 0.48% $1,752.52 1.06% $626.05 $4,378.97 0.68%
Superannuation Expense $6,957.29 2.47% $5,997.02 3.05% $15,573.59 9.40% $0.00 $28,527.90 4.43%
Telephone & Internet $914.20 0.32% $608.79 0.31% $611.01 0.37% $0.00 $2,134.00 0.33%
Wages and Salaries Expen $ 79,825.57 28.36% $70,490.13 35.81% $69,303.85 41.85% $0.00 $219,619.55 34.11%
Waste Disposal $0.00 0.00% $510.30 0.26% $646.73 0.39% $0.00 $1,157.03 0.18%
Water Bill $0.00 0.00% $2,100.00 1.07% $4,740.00 2.86% $0.00 $6,840.00 1.06%
Total Operating Expense $120,535.26 42.82% $96,211.21 48.88% $ 128,291.71 77.47% $17,599.18 $362,637.36 56.32%
Gross Profit $146,066.92 51.90% $87,051.56 44.23% $21,688.72 13.10% $237,208.02 36.84%
$17,599.18
$4,089.54 2.46%
Q 2020 NOTE:
Some of June Operating expenses were covered in July making a very low Gross Profit in June