Working out end of year profit

moo_juice

I am confusing myself again, can someone clarify. I am trying to work out my profit for last tax year but it doesn't look right and I cant seem to find a straight answer online!
I will use different numbers and try to keep it simple to explain...

Lets just say I started a new venture (have been SE for 5 years but in the service sector - I carried no stock or assets)

Half way through the tax year when I switched from service to sales venture. I had a £300 "float" in my business account, I used this to purchase items and sold online for lots of profit (woo!). Anyway, because the float was small (and I didnt want to get into debt) and I knew I needed to expand my stock to sell/earn more- I ploughed all the money I earnt back into more stock. So although I was earning good profit on my goods, my bank balance remained around the £300 level.

It came to the end of the tax year in april, I did a stock take and had roughly £1000 in stock (left to sell), but my bank account was roughly the same as when I started.

Have just totaled my income, vs my costs (cog,posting,fees etc) and the 2 figures are practically the same (about £4k each)

I itemised my sales in the first year (I dont bother recording individual sales now) and my profit from the sales should have been around £1000.

Now, for my self assessment, I need to work out the profit....
because deducting the costs, from the income = roughly £0 (but I had 1k in stock)

Do I add the value of the stock to my profit? Or How does the stock affect my figures exactly. otherwise, even though Im taking £1000 a month in sales now, I can see next april I will still have the same 300 in the account (and £0 total profit using profit/loss), but will probably have about 5k in stock by then.
Im pretty sure I should, but need to be 100% when it comes to the self assessment.

moo_juice

ah, ive just realised after typing all that, it may not be in the right place (sorry mods)