Can anyone please help me with these figures, trying to do a balance sheet and so stuck.

[Crazybit]

It's my second day of trying to sort this out and tutors are not back in till after Easter, so am getting so frustrated.

I have done a start up costing but I am not sure where it should go on the balance sheet, will try to paste it all and if anyone can help I will be eternally grateful.

Start-up Costs £ £
Initial expenses
Labour for refurbishment 3000(included in figure of fixtures and fittings in the balance sheet as capital expenditure)
Legal costs including lease transfer 2750
Money in bank for reserves 38932
Start-up Stock 3000
Fittings 6000
Kitchen equipment 1740
Business equipment 2385
Staff facilities 410
Office/security equipment 1090
Signage 460
Initial advertising 3483
Premises 36950
Vehicles 9800
Total 110000

Trading, profit and loss.

Sales 734,136
Less Costs of goods sold
Opening Stock 3000
Plus Purchases 440484
443484
Less closing stock 5404
Cost of good sold 438080
Gross profit 296,056
Less Expenses
Sundry 3000
Wages 227784
Loan repayment 12024
Marketing/Promotion/Advertising 3000
Accounting(legal services) 600
Lease 25000
Telephone 216
Utilities 2604
Insurance 1980
Water 800
Rates 8880
Depreciation 6397
Vehicle expenses 2400
Internet 432
295117
Net Profit 939

Projected Balance Sheet as at 31/08/2012
Cost Depreciation Net Book Value
Fixed Assets
Premises 36950 36950
Vehicle 9800 2450 7350
Fixtures and Fittings 15085 3772 11313
Computer Equipment 700 175 525
62535 6397 56138
Current Assets
Stock 5404
Bank Balance 38932
44336
Less Current Liabilities 0
VAT 24471
24471
Working Capital 19865
76003
Less long term liabilities 0
Bank loan 37976
Net Assets 38027

Financed by
Capital (93,000 shares) 93000
Plus Expected Net Profit 937
93937

It has not pasted very well, but if anyone can figure it out please help.

only interest allowed to claim on profit & loss account not whole amount of loan repayments - these reduce your ( long term )liabilties) - of which your loan should be one if over a long period of time and loan amount still owing showing as a liability - long or current depending on length of time of loan
you are not showing ANY liabilities either short or long term - what about o/s purchase accounts, paye/nic, vat etc

Thank you. I forgot about the interst only being allowed in P&L. So it's a £50,000 loan over 5 years. I have £4000 interest payment (8%) in the P&L and the £50000 in the Long term liabilities?

I've got VAT in the short term liabilities so far.