Show me the money
If you’re interested in what makes companies work, financial statements are like a window to their soul. Balance sheets are great, but only show you a snapshot in time and may have looked very different a week earlier. Profit and loss statements (P&L, also known as income statements), however, are where the fun is at. They show a company’s income and outgoings over a period of time and whether it made or lost money. Without creative accounting, there are few places to hide good or bad news in a P&L statement!
For those of you also intrigued by gawping at other companies’ financials and what it says about their overall strategy, take a look at the annual accounts of Good Energy and Bulb — two similar companies offering 100% renewable energy but with very different strategies. One has made millions over the years, the other has lost millions but has 10x the revenue. Which one will go the distance? Or will they both?
Zevvle’s annual accounts
A company with either a turnover of £632,000 or less, £316,000 or less on its balance sheet or 10 employees or less is considered a micro entity. And we meet all three! It means we file simpler accounts with Companies House that have much less detail and including a P&L statement is optional. For many people — me included — making their business’ P&L statement public is like bearing everything.
When talking about money, we often default to keeping things behind closed doors. And when it came to putting a tick in the box to keep our P&L private, I did. Only after reflecting did the double standards of us talking about transparency like it’s a new woke ingredient and keeping some financial details private seem at odds.
Paying lip service to transparency is much easier than being transparent, and you can find the P&L for our first financial year here. They’re from the 1st May 2018 to 31st May 2019 so include the day we launched but nothing since, hence the £141 in revenue.
If you’re reading this thinking there’s something interesting to find there, I’m sorry to disappoint you! But in a few years it will be part of Zevvle’s founding story and give context to the years that followed.