Tesco financial statements balance sheet profit and loss account and cash flow statement A balance sheet also known as the statement of financial statement can be defined as a financial photograph of an organization at a precise time Barton and Simko 2002 At a specific moment it gives the summary of the assets which are economic resources that can be tangible or intangible own or control by a company to bring benefit in the future These assets can be bought or create in order the firm value can be increased the liabilities are obligations or financial debt of a company such as accounts payable loans mortgages accrued expenses etc and shareholders equity of a firm or a company This is just the measures of the net worth of a company It can be obtained by deducting the total company liabilities from the company total assets It helps to know the company s health These three components are the indicators for investors to understand what the company owes and owns and have an idea of shareholders amount invested The Tesco group balance sheet as at 25 February 2017 27 February 2016 25 February 2017 m 27 February 2016 m Non current assets Goodwill software other intangible assets Property plant equipment Investment property Investment in joint ventures associates Other investments Trade other receivables Loans advances to customers Derivative financial instruments Deferred tax assets Total non current assets 2 717 18 108 64 739 823 180 5 795 1 303 707 30 436 2 874 17 900 78 785 1 078 201 4 723 1 532 49 29 220 Current assets Other investments Inventories
Trade other receivables Loans advances to customers Derivative financial instruments Current tax assets Short term investments Cash cash equivalents Assets of the disposal group and non current assets classified as held for sale Total current assets 284 2 301 1 475 4 166 286 13 2 727 3 821 344 15 417 57 2 430 1 406 3 819 176 15 3 463 3 082 236 14 684 Current liabilities Trade other payable Borrowings Derivative financial instruments Customer deposit deposit from banks Current tax liabilities Provisions Liabilities of the disposal group classified as held for sale Net current liabilities 8 875 2 560 61 6 687 613 438 171 3 988 8 293 2 826 62 5 906 419 360 3182 Non current liabilities Trade other payables Borrowings Derivative financial instruments other liabilities Customer deposits deposit from banks Post employment benefit obligations Deferred tax liabilities Provisions Total non current liabilities Net assets 324 9 433 607 2 276 6 621 88 685 20 034 6 414 275 10 711 889 1 573 3 175 135 664 17 422 8 616 Equity Share capital Share premium All other reserves Retained earnings Equity attributable to owners of the parent Non controlling interests Total equity 409 5 096 601 332 6 438 24 6 414 407 5 095 141 3 265 8 626 10 8 616 tesco plc com Annual Report 2017 Profit and loss statement A profit and loss statement P L is a statement that recapitulates in specific moment of time the revenues costs and expenses incurred It makes available information regarding the ability or inability of a firm to generate profit Weygandt et al 2010 Also known as income statement it is among the financial statements that a public company should issue quarterly and annually together with balance sheet and cash flow statement
The format of income statement allows to determine the bottom line or profit loss and starts with the top line revenue and minus costs of doing business such as cost of goods traded operating expenses tax expense and interest expense The importance of income statement is the comparability of different accounting period where changes in different segments are more important This will allow auditors and managers to agree on certain actions to do in the future E g the revenues of a firm can grow but its expenses can grow in faster rate that reduce the profit Profit and loss statement of Tesco group for the year ended 25 February 2017 and 2016 52 weeks 25 February 2017 m 52 weeks 27 February 2016 m Continuing operations Revenue Cost of sales Gross profit loss Administrative expenses Profit losses arising on property related items Operating profit loss Share of post tax losses of joint venture associates Finance income Finance costs Profit loss before tax Taxation Profit loss for the year from continuing operations 55 917 53 015 2 902 1 995 110 1 017 107 109 874 145 87 58 53 933 51 089 2 844 1 814 42 1 072 21 29 878 202 54 256 Discontinued operations Profit loss for the year from discontinued operations Profit loss for the year Attributable to Owner of the parent Non controlling interest 112 54 40 14 127 129 138 9 Earnings losses per share from continuing discontinued operations Basic Diluted Earnings losses per share from continuing operations Basic Diluted 0 49 p 0 49 p 0 81p 0 81p 1 70p 1 69p 3 24p 3 22p tescoplc com Annual Report 2017
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