Case study: Statements of comprehensive income and financial position
Look at S4C's statements of comprehensive income and financial position.
Consolidated Statement of Comprehensive Income for the year ended 31 March 2024
The Consolidated Statement of Comprehensive Income, Balance Sheets, Statements of Changes in Equity and the Consolidated Cashflow Statement show the results and performance of both S4C and its commercial group of companies. Within this Consolidated Statement of Accounts, the Public Service Fund is referred to as S4C and the total of both public service and commercial activities is referred to as the S4C Group. The assets that are not comprised in the Public Service Fund are referred to as the General Fund.
| 2023/24 | 2022/23 | |
|---|---|---|
| £000 | £000 | |
| Public Service Fund Income and General Fund Turnover | 90,754 | 90,933 |
| Turnover of S4C | 90,754 | 90,933 |
| Cost of programme service | (85,886) | (87,677) |
| Transmission and distribution costs | (5,064) | (4,092) |
| Other direct costs | (580) | (930) |
| Gross loss | (776) | (1,766) |
| Operational and administrative costs | (3,839) | (3,225) |
| Operating loss | (4,615) | (4,991) |
| Sale of investments | – | 582 |
| (4,615) | (4,409) | |
| Gain/(loss) on investment | 779 | (970) |
| Investment income | 281 | 202 |
| Net interest | 565 | 254 |
| Loss on ordinary activities before taxation | (2,990) | (4,923) |
| Taxation on loss on ordinary activities | – | 53 |
| Loss after taxation | (2,990) | (4,870) |
| Actuarial gain on the pension scheme assets and liabilities | 100 | 100 |
| Other comprehensive profit | 100 | 100 |
| Total comprehensive loss for the year | (2,890) | (4,770) |
| Transfer from Public Service Fund (deferred income) | 3,658 | 3,844 |
| Retained in the General Fund | 768 | (926) |
Consolidated Balance Sheet at 31 March 2024
| At 31/03/24 | At 31/03/23 | |||
|---|---|---|---|---|
| £000 | £000 | £000 | £000 | |
| Fixed Assets | ||||
| Tangible fixed assets | 55 | 78 | ||
| Investments | 409 | 156 | ||
| 464 | 234 | |||
| Current Assets | ||||
| Stock | 20,083 | 13,937 | ||
| Debtors amounts falling due within one year | 4,232 | 4,771 | ||
| Debtors – amounts falling due after more than one year | 5,629 | 6,682 | ||
| Investments | 13,350 | 12,646 | ||
| Cash at bank and in hand | 11,592 | 19,529 | ||
| 54,886 | 57,565 | |||
| Current Liabilities | ||||
| Creditors amounts falling due within one year | (17,400) | (15,419) | ||
| Creditors – amounts falling due after more than one year | (2,321) | (3,861) | ||
| Net Current Assets | 35,165 | 38,285 | ||
| Total Assets less Total Liabilities | 35,629 | 38,519 | ||
| Reserves | ||||
| Public Service Fund | 15,790 | 19,448 | ||
| General Fund | 19,839 | 19,071 | ||
| Total Reserves | 35,629 | 38,519 |
Try to calculate as many ratios as possible for two years.
In which year do you think S4C was more successful financially?