P&L Explained with Gains Accountants

""We help F&B businesses build lean, profitable, and resilient models that give owners freedom, not burnout. Our focus is on streamlining operational structure, eliminating debt, and embedding robust financial systems that boost profit and cash flow. Ultimately, our goal is to help F&B owners step back, enjoy the reward of their hard work, and build a lasting legacy through their business.""

"A P&L, or profit & loss statement, is a financial report for a business, detailing whether it's making or losing money. It includes: Revenue - total income COGS (Cost of Goods Sold) - direct cost of producing goods or services sold Operating Expenses - costs not directly tied to production, like rent and salaries Gross Profit - revenue minus COGS Operating Profit (EBIT)- profit before interest and taxes Net Profit - profit after all expenses"

The #TaxedOut campaign calls on the Government to support the hospitality industry amid severe strain from rising costs, a 20% VAT rate, increased National Insurance contributions, the London Living Wage, and reduced business rates relief. Campaign actions include an open letter to the Chancellor, breakdowns of popular London dishes showing shrinking margins, and operator interviews. A partnership with Gains Accountants explains the profit & loss statement and profit averages across hospitality. A profit & loss statement lists revenue, COGS, operating expenses, gross profit, operating profit (EBIT) and net profit. Restaurant COGS cover ingredients and supplies such as food and takeaway packaging.

Read at London On The Inside