Pause for thought: Statement of comprehensive income
Amgueddfa Cymru has a subsidiary trading company responsible for running the shops and dining areas.
Look at the information below and answer the questions that follow:
| 2022/23 £ ‘000 |
2021/22 £ ‘000 |
|
|---|---|---|
| Turnover | 3,215 | 1,843 |
| Cost of sales | (2,471) | (1,690) |
| Gross profit/loss | 744 | 153 |
| Administrative expenses | (473) | (262) |
| Other operating income | 250 | 64 |
| Profit (loss) on ordinary activities before interest | 521 | (45) |
| Interest receivable | 0 | 0 |
| Interest payable | (6) | (6) |
| Profit (loss) on ordinary activities before taxation | 515 | (51) |
| Tax on profits on ordinary activities | 0 | 0 |
| Profit (loss) for the financial year | 515 | (51) |
| Gift Aid payable to the museum | 0 | 0 |
| Retained profit/loss for the financial year | 515 | (51) |
Why are some figures shown in brackets?
What kind of goods are likely to make up the cost of sales?
Which year was the most successful, according to the statement?