Take a look here
on calculating your profit or loss.
1 Your first accounting period does not have to be a year long. It makes sense to draw up your accounts to 5 April each year as that coincides with the tax year.
2 a If you are not UK domiciled and the foreign income and gains are less than £2,000, you can choose to be taxed on the remittance basis of assessment whereby you only pay tax on UK source income and income and gains you bring to the UK from abroad. Take a look at RDR1 here
, in particular Section 9. Where the foreign income and gains are £2,000 or more, then you have to elect remittance basis if you wish to use it.
2 b You would pay tax at the same rates of tax you pay on UK source income on your foreign land income but if you pay any tax on that foreign land income in Pakistan, you will be able to offset the tax against the UK tax liability on the same income under the terms of the UK/Pakistan double tax treaty..
3 Your bank balance does not need to be disclosed in your tax return. You don't need to do a balance sheet. The start up grant may be taxable and you should ask the organisation that paid it to you if it is as there are so many different types of business grant, some taxable, some not. If it is taxable, it should be included as other income on the self-employment pages.
4 The funds you draw are drawings but, as I said in 3 above, you don't have to do a balance sheet.
I hope this helps but let me know if you have any further questions.