Gross Profit. Bar Result (See Schedule 3 on Page 8) The financial statements for the year ended 31 August 2012 show that the Bar made a loss of This compares to a smaller loss for the prior year of €28,292. The key points to note are as follows; €2,698. It should be that the Bar Loss is overstated as the full costs of utilities, • telephone rates, cleaning and office expenses are being fully allocated against the Bar. Bar turnover amounted to for the year compared to in 2010/ • €221,043 €256,390 11, in 2009/10 and in 2008/09. The decrease in turnover €276,059 €301,898 from the prior year of 14% reflects current economic conditions. The margin earned in the Bar was 54.26%. This compares to the actual margins • achieved in 2010/11 of 57.4% and 2009/10 of 55.9%. The fall in the bar margin can be attributed to the increase in VAT in January 2012 was not passed on and the effect of the various drinks promotions that were run in the year (such as the beer of the month and 3 bottles of beer for €10.00). The fall in the Bar’s gross profit of can be attributed to the fall in • €27,247 turnover bar turnover (75%) and the fall in the bar gross margin (25%). Overheads were kept under control during the year and total overheads fell by • to Increases in office and cleaning costs were more than offset €1,543 €148,332. by reductions in utility and entertainment costs. The increase in the overall deficit for the year of can be almost fully • €27,605 attributed to the fall in the Bar’s gross profit of If we can manage to €27,247.
Gross Profit. Bar Result (See Schedule 3 on Page 8) The financial statements for the year ended 31 August 2012 show that the Bar made a loss of €28,292. This compares to a smaller loss for the prior year of €2,698. The key points to note are as follows; • It should be that the Bar Loss is overstated as the full costs of utilities, telephone rates, cleaning and office expenses are being fully allocated against the Bar. • Bar turnover amounted to €221,043 for the year compared to €256,390 in 2010/ 11, €276,059 in 2009/10 and €301,898 in 2008/09. The decrease in turnover from the prior year of 14% reflects current economic conditions. • The margin earned in the Bar was 54.26%. This compares to the actual margins achieved in 2010/11 of 57.4% and 2009/10 of 55.9%. The fall in the bar margin can be attributed to the increase in VAT in January 2012 was not passed on and the effect of the various drinks promotions that were run in the year (such as the beer of the month and 3 bottles of beer for €10.00). • The fall in the Bar’s gross profit of €27,247 can be attributed to the fall in turnover bar turnover (75%) and the fall in the bar gross margin (25%). • Overheads were kept under control during the year and total overheads fell by €1,543 to €148,332. Increases in office and cleaning costs were more than offset by reductions in utility and entertainment costs. • The increase in the overall deficit for the year of €27,605 can be almost fully attributed to the fall in the Bar’s gross profit of €27,247. If we can manage to