· example
annual report example
this is what a micro-entity annual report's income statement and balance sheet look like.
income statement, scheme 1
labour cost is the board member's gross fee plus 33% social tax. the bank statement shows only the net payment.
balance sheet as at 31 December (first financial year)
assets
liabilities and equity
equity
assets must equal liabilities plus equity. if they do not, the business register will not accept the report.
· what the report consists of
what the report consists of
balance sheet
assets on one side, liabilities and equity on the other, as at the last day of the year. the prior year sits beside it (RPS § 22).
income statement
income for the year minus expenses. a small service company usually uses scheme 1, with expenses by type.
notes
the average number of employees is required (RPS § 21 lg 4). a micro-entity does not have to disclose total labour cost.
accompanying documents
the profit distribution proposal and the revenue split by activity. they are filed together with the report (ÄS § 179).
· cash and profit
why the money in the account is not the profit
profit shows how much you earned in the year. the bank account shows how much money is in it. starting from the profit, this is how we get to the bank balance:
· profit and dividends
profit distribution proposal example
with the report, the board files a profit distribution proposal (ÄS § 179). on the e-Business Register form, the example company's proposal looks like this:
the other distribution rows (reserves, share capital and so on) are 0 in the example. if the shareholders want a dividend, retained earnings after distribution fall by the same amount.
· limits
who cannot use the micro-entity report
the short-form report is for a micro-entity that does not exceed two of three limits on the balance sheet date (RPS § 3 point 14):
€450,000
total assets
€900,000
revenue for the year
10
average number of employees
- if you exceed the limits on two consecutive balance sheet dates, you need a small-entity report (RPS § 2 lg 6)
- if the shareholder is not a board member, the portal does not allow the micro-entity form
- a company being wound up or deleted files a final report instead
questions and answers about the example
what does a micro-entity annual report example look like?
an income statement, a balance sheet and notes. there is no cash-flow statement, no statement of changes in equity and no management report.
what do an OÜ balance sheet and income statement look like?
the income statement shows income and expenses for the year, the balance sheet the position on the last day. both sides of the balance sheet must be equal.
why is the bank balance not the profit?
the account also holds money that is not income, such as share capital. and invoices and taxes that belong to this year only move through the bank next year.
what is the profit distribution proposal?
the board's proposal to the shareholders on what to do with the profit: leave it undistributed or pay part as a dividend.
which notes must a micro-entity report include?
usually only the average number of employees. other notes are added if, for example, guarantees were given or loans made to the board.
your numbers differ, the shape does not
upload your bank statement, check the categories, take the pdf and the xbrl. €49, once.