BEAUTY VENUS Beauty Salon
advertisement
Beauty Venus Ltd Laura Smuzniak & Katarzyna Pech Confidentiality Agreement The undersigned reader acknowledges that the information provided by _______________ in this business plan is confidential; therefore, reader agrees not to disclose it without the express written permission of _______________. It is acknowledged by reader that information to be furnished in this business plan is in all respects confidential in nature, other than information which is in the public domain through other means and that any disclosure or use of same by reader, may cause serious harm or damage to _______________. Upon request, this document is to be immediately returned to _______________. ___________________ Signature ___________________ Name (typed or printed) ___________________ Date This is a business plan. It does not imply an offering of securities. Table of Contents 1. Executive Summary ................................................................................................................................. 4 1.1. Objectives ......................................................................................................................................... 4 1.2. Mission ............................................................................................................................................. 4 1.3. Keys to Success................................................................................................................................ 5 2. Company Summary.................................................................................................................................. 5 2.1. Company Ownership ....................................................................................................................... 5 2.2. Start-up Summary ............................................................................................................................ 6 3. Services ..................................................................................................................................................... 7 4. Market Analysis Summary ...................................................................................................................... 7 4.1. Market Segmentation....................................................................................................................... 7 4.1.1. Sales Forecast........................................................................................................................... 8 5. Management Summary .......................................................................................................................... 10 5.1. Personnel Plan ................................................................................................................................ 10 6. Financial Plan ......................................................................................................................................... 11 6.1. Start-up Funding............................................................................................................................. 11 6.2. Break-even Analysis ...................................................................................................................... 12 6.3. Projected Profit and Loss............................................................................................................... 12 6.4. Projected Cash Flow ...................................................................................................................... 16 6.5. Projected Balance Sheet ................................................................................................................ 18 Beauty Venus LTD Business Plan 1. Executive Summary Highlights £250,000 £200,000 £150,000 Sales Gross Margin Net Profit £100,000 £50,000 £0 FY 2009 1.1. FY 2010 FY 2011 Objectives Salon Beauty Venus is more than just a full service salon providing excellent hair and skin care and quality products, in a peaceful, relaxed atmosphere. It will also provide a friendly work environment, respecting diversity, creativity, and hard work. 1.2. Mission Our mission is to provide skilled services, through talented cosmetologists, that give our customers the dignity and self respect needed to be successful in the world today. We are also committed to offering a range of complementary services for hair styling and bodycare in the same location, to give our customers the convenience of a single location for all their hair and bodycare needs. Page 4 Beauty Venus LTD Business Plan 1.3. Keys to Success Location - salon located on the main street between Ealing and Greenford - provides easy access for Polish customers as well as greater visibility to potential clients. Advertising - will get our name and the concept of Herr Haar out to the public. Unique – Beauty Venus is like no other in providing quality hair care and addressing more complicated hair and body care issues in private consultation. Commitment of the ovners – they believe that the key to successful business is meeting customers requirements and starting the best service from themselves Customer Satisfaction! - this is the most important factor in whether a one-time customer becomes a repeat customer and recommends us to friends. The time is right for a salon that provides the skill and knowledge to take care of everyday hair care and body care needs of the customers. The diligence of the owner, along with the earnest desire of every skilled cosmetologists and hairdressers working with Beauty Venus to constantly improve their knowledge, gives this business great potential. 2. Company Summary Beauty Venus Salon will provide a wide range of hair-dressing and cosmetics services and products as well as sunbathing services. What will set the salon apart from any competition is our commitment to continued education, providing the latest hair care and beaty techniques, along with other related services, at a convenient location. 2.1. Company Ownership The Company Beauty Venus Ltd was established on 28th of March 2008 by Ms Laura Smuniak and Ms Katarzyna Pech, having 50% of shares each. • Laura has been been working as a sole trader providing beautician servicein the UK, as well as in Poland. Alll in all she has more than 10 years of experience in thias field. • Katarzyna has been working successfully with a diversity of clientele for around five years now, specialising in nails care and extentioins. In the future they are both going to take additional courses in order to raise their qualifications and provide more professional service. Page 5 Beauty Venus LTD Business Plan 2.2. Start-up Summary Start-up Requirements Start-up Expenses Legal Salon Refurbishment Sunbed Salon Equipment Rent Total Start-up Expenses £500 £10,000 £10,000 £10,000 £2,000 £32,500 Start-up Assets Cash Required Other Current Assets Fixed Assets Total Assets £0 £0 £0 £0 £32,500 Total Requirements Start-up £35,000 £30,000 £25,000 £20,000 £15,000 £10,000 £5,000 £0 Expenses Assets Investment Loans Page 6 Beauty Venus LTD Business Plan 3. Services Beauty Venus realizes that great customer service includes complete service under one roof. Our services including hair-dressing, body cosmetics, nail styling and extentions and sunbed are meeting our customers high standard expectations. The main services considering: Hair: cuts, relaxers, perms, colors, shampoo, conditioning, curling, reconstructing, weaving, waving. Nails: manicures, pedicures, polish, sculptured nails. Skin Care: European facials, body waxing, massage, peelings, facial masks, Sunbed 4. Market Analysis Summary There are many salons in the the Ealing area but no direct competitors interested in Polish community. Wew believe that our main strengths will be very competitive prices in comparison to other local salons. A significant number of Polish citizens in the area, vast experience of the owners and competitive prices will make us successful on the market. 4.1. Market Segmentation Market Analysis Potential Customers Hair Care Body Care Nail Care Sunbed Total Growth 5% 5% 5% 5% 5.00% 2008 2009 2010 2011 2012 3,500 900 900 2,500 7,800 3,675 945 945 2,625 8,190 3,859 992 992 2,756 8,599 4,052 1,042 1,042 2,894 9,030 4,255 1,094 1,094 3,039 9,482 CAGR 5.00% 5.00% 5.00% 5.00% 5.00% Page 7 Beauty Venus LTD Business Plan 4.1.1. Sales Forecast Sales Forecast FY 2009 FY 2010 FY 2011 Unit Sales Hair Care Facial and Body Care Nails Sunbed Total Unit Sales 3,550 900 900 2,520 7,870 3,750 950 950 2,650 8,300 4,000 1,000 1,000 2,800 8,800 Unit Prices Hair Care Facial and Body Care Nails Sunbed FY 2009 £40.00 £30.00 £30.00 £5.00 FY 2010 £40.00 £30.00 £30.00 £5.00 FY 2011 £40.00 £40.00 £30.00 £5.00 Sales Hair Care Facial and Body Care Nails Sunbed Total Sales £142,000 £27,000 £27,000 £12,600 £208,600 £150,000 £28,500 £28,500 £13,250 £220,250 £160,000 £40,000 £30,000 £14,000 £244,000 Direct Unit Costs Hair Care Facial and Body Care Nails Sunbed FY 2009 £4.00 £3.00 £3.00 £0.00 FY 2010 £4.00 £3.00 £3.00 £0.00 FY 2011 £4.00 £3.00 £3.00 £0.00 Direct Cost of Sales Hair Care Facial and Body Care Nails Sunbed Subtotal Direct Cost of Sales £14,200 £2,700 £2,700 £0 £19,600 £15,000 £2,850 £2,850 £0 £20,700 £16,000 £3,000 £3,000 £0 £22,000 Page 8 Beauty Venus LTD Business Plan Sales Monthly £25,000 £20,000 Hair Care £15,000 Facial and Body Care Nails £10,000 Sunbed £5,000 £0 May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr Sales by Year £250,000 £200,000 Hair Care £150,000 Facial and Body Care Nails £100,000 Sunbed £50,000 £0 FY 2009 FY 2010 FY 2011 Page 9 Beauty Venus LTD Business Plan 5. Management Summary The personnel plan calls for two hairdressers, one certified cosmetician and a receptionist who will greet customers, receive payments and look after the sunbed customers. The mentioned persons will work as sole traders providing full time service. No payroll will be paid for either workers, as being subcontractors they are responsible for their taxes themselves. 5.1. Personnel Plan Personnel Plan Hairdresser Beautician Receptionist Total People FY 2009 £19,200 £9,600 £9,600 4 FY 2010 £20,000 £10,000 £10,000 5 FY 2011 £21,000 £11,000 £11,000 5 Total Payroll £38,400 £40,000 £43,000 Page 10 Beauty Venus LTD Business Plan 6. Financial Plan 6.1. Start-up Funding In order to start a business the owners will need the financial support of around £30,000 in order to cover the start up costs of salon refurbishment and essential equipment purchase. Start-up Funding Start-up Expenses to Fund Start-up Assets to Fund Total Funding Required Assets Non-cash Assets from Start-up Cash Requirements from Start-up Additional Cash Raised Cash Balance on Starting Date Total Assets £32,500 £0 £32,500 £0 £0 £0 £0 £0 Liabilities and Capital Liabilities Current Borrowing Fixed Liabilities Accounts Payable (Outstanding Bills) Other Current Liabilities (interest-free) Total Liabilities £0 £0 £0 £0 £0 Capital Planned Investment Owner Investor Additional Investment Requirement Total Planned Investment £0 £0 £32,500 £32,500 Loss at Start-up (Start-up Expenses) Total Capital (£32,500) £0 Total Capital and Liabilities Total Funding £0 £32,500 Page 11 Beauty Venus LTD Business Plan 6.2. Break-even Analysis Break-even Analysis Monthly Units Break-even Monthly Revenue Break-even 249 £6,604 Assumptions: Average Per-Unit Revenue Average Per-Unit Variable Cost Estimated Monthly Fixed Cost £26.51 £2.49 £5,983 Break-even Analysis £6,000 £4,000 £2,000 £0 (£2,000) (£4,000) (£6,000) 0 80 160 240 320 400 Monthly break-even point Break-even point = where line intersects with 0 6.3. Projected Profit and Loss We believe that due to the expertise of our employees and well prepared marketing campaign our business will develop quickly and constantly. Our Profit figures show that we will be able to provide the sufficient service meeting the expectations of our customers. We believe that a considerable number of our customers will be also coming as refferals from our existing customers. Our aim is to develop the business, make the brand recognisable and earn good opinion from our customers. Page 12 Beauty Venus LTD Business Plan Pro Forma Profit and Loss Total Cost of Sales FY 2009 £208,600 £19,600 £0 -----------£19,600 FY 2010 £220,250 £20,700 £0 -----------£20,700 FY 2011 £244,000 £22,000 £0 -----------£22,000 Gross Margin Gross Margin % £189,000 90.60% £199,550 90.60% £222,000 90.98% £38,400 £2,200 £0 £18,000 £6,000 £2,400 £3,600 £1,200 -----------£71,800 £40,000 £1,500 £0 £19,000 £6,500 £3,000 £4,000 £1,500 -----------£75,500 £43,000 £1,800 £0 £20,000 £7,000 £3,500 £4,500 £1,800 -----------£81,600 £117,200 £124,050 £140,400 £117,200 £3,000 £34,260 £124,050 £3,000 £36,315 £140,400 £3,000 £41,220 £79,940 38.32% £84,735 38.47% £96,180 39.42% Sales Direct Cost of Sales Other Costs of Sales Expenses Payroll Marketing/Promotion Depreciation Rent Rates Electricity Insurance Other Total Operating Expenses Profit Before Interest and Taxes EBITDA Interest Expense Taxes Incurred Net Profit Net Profit/Sales Page 13 Beauty Venus LTD Business Plan Profit Monthly £12,000 £10,000 £8,000 £6,000 £4,000 £2,000 £0 May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr Profit Yearly £100,000 £90,000 £80,000 £70,000 £60,000 £50,000 £40,000 £30,000 £20,000 £10,000 £0 FY 2009 FY 2010 FY 2011 Page 14 Beauty Venus LTD Business Plan Gross Margin Monthly £25,000 £20,000 £15,000 £10,000 £5,000 £0 May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr Gross Margin Yearly £250,000 £200,000 £150,000 £100,000 £50,000 £0 FY 2009 FY 2010 FY 2011 Page 15 Beauty Venus LTD Business Plan 6.4. Projected Cash Flow Pro Forma Cash Flow FY 2009 FY 2010 FY 2011 £208,600 £208,600 £220,250 £220,250 £244,000 £244,000 Cash Received Cash from Operations Cash Sales Subtotal Cash from Operations Additional Cash Received VAT Received (Output Tax) VAT Repayments New Current Borrowing New Other Liabilities (interestfree) New Fixed Liabilities Sales of Other Current Assets Sales of Fixed Assets New Investment Received Subtotal Cash Received £0 £0 £30,000 £0 £0 £0 £0 £0 £0 £0 £0 £0 £0 £0 £0 £0 £238,600 £0 £0 £0 £0 £220,250 £0 £0 £0 £0 £244,000 Expenditures FY 2009 FY 2010 FY 2011 Expenditures from Operations Cash Spending Bill Payments Subtotal Spent on Operations £128,660 £0 £128,660 £135,515 £0 £135,515 £147,820 £0 £147,820 £0 £0 £0 £0 £0 £0 £0 £0 £0 £0 £0 £0 Additional Cash Spent VAT Paid Out (Input Tax) VAT Payments Principal Repayment of Current Borrowing Other Liabilities Principal Repayment Fixed Liabilities Principal Repayment Purchase Other Current Assets Purchase Fixed Assets Dividends Subtotal Cash Spent £0 £0 £0 £0 £0 £0 £128,660 £0 £0 £0 £135,515 £0 £0 £0 £147,820 Net Cash Flow Cash Balance £109,940 £109,940 £84,735 £194,675 £96,180 £290,855 Page 16 Beauty Venus LTD Business Plan Cash £120,000 £100,000 £80,000 Net Cash Flow £60,000 Cash Balance £40,000 £20,000 £0 May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr Page 17 Beauty Venus LTD Business Plan 6.5. Projected Balance Sheet Pro Forma Balance Sheet FY 2009 FY 2010 FY 2011 Current Assets Cash Other Current Assets Total Current Assets £109,940 £0 £109,940 £194,675 £0 £194,675 £290,855 £0 £290,855 Fixed Assets Fixed Assets Accumulated Depreciation Total Fixed Assets Total Assets £0 £0 £0 £109,940 £0 £0 £0 £194,675 £0 £0 £0 £290,855 Liabilities and Capital FY 2009 FY 2010 FY 2011 Current Liabilities Accounts Payable Current Borrowing Other Current Liabilities Subtotal Current Liabilities £0 £30,000 £0 £30,000 £0 £30,000 £0 £30,000 £0 £30,000 £0 £30,000 Fixed Liabilities Total Liabilities £0 £30,000 £0 £30,000 £0 £30,000 £32,500 (£32,500) £79,940 £79,940 £109,940 £32,500 £47,440 £84,735 £164,675 £194,675 £32,500 £132,175 £96,180 £260,855 £290,855 £79,940 £164,675 £260,855 Assets Paid-in Capital Retained Earnings Earnings Total Capital Total Liabilities and Capital Net Worth Page 18 Appendix Sales Forecast Unit Sales Hair Care Facial and Body Care Nails Sunbed Total Unit Sales 0% 0% 0% 0% Unit Prices Hair Care Facial and Body Care Nails Sunbed Sales Hair Care Facial and Body Care Nails Sunbed Total Sales Direct Unit Costs Hair Care Facial and Body Care Nails Sunbed Direct Cost of Sales Hair Care Facial and Body Care Nails Sunbed Subtotal Direct Cost of Sales VAT Rate 17.50% 17.50% 17.50% 17.50% 10.00% 10.00% 10.00% 10.00% VAT Rate 17.50% 17.50% 17.50% 17.50% May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 200 50 50 150 450 200 50 50 150 450 250 60 60 180 550 250 60 60 180 550 250 70 70 200 590 300 70 70 200 640 300 80 80 230 690 300 80 80 230 690 350 90 90 250 780 350 90 90 250 780 400 100 100 250 850 400 100 100 250 850 May-08 £40.00 £30.00 £30.00 £5.00 Jun-08 £40.00 £30.00 £30.00 £5.00 Jul-08 £40.00 £30.00 £30.00 £5.00 Aug-08 £40.00 £30.00 £30.00 £5.00 Sep-08 £40.00 £30.00 £30.00 £5.00 Oct-08 £40.00 £30.00 £30.00 £5.00 Nov-08 £40.00 £30.00 £30.00 £5.00 Dec-08 £40.00 £30.00 £30.00 £5.00 Jan-09 £40.00 £30.00 £30.00 £5.00 Feb-09 £40.00 £30.00 £30.00 £5.00 Mar-09 £40.00 £30.00 £30.00 £5.00 Apr-09 £40.00 £30.00 £30.00 £5.00 £8,000 £1,500 £1,500 £750 £11,750 £8,000 £1,500 £1,500 £750 £11,750 £10,000 £1,800 £1,800 £900 £14,500 £10,000 £1,800 £1,800 £900 £14,500 £10,000 £2,100 £2,100 £1,000 £15,200 £12,000 £2,100 £2,100 £1,000 £17,200 £12,000 £2,400 £2,400 £1,150 £17,950 £12,000 £2,400 £2,400 £1,150 £17,950 £14,000 £2,700 £2,700 £1,250 £20,650 £14,000 £2,700 £2,700 £1,250 £20,650 £16,000 £3,000 £3,000 £1,250 £23,250 £16,000 £3,000 £3,000 £1,250 £23,250 May-08 £4.00 £3.00 £3.00 £0.00 Jun-08 £4.00 £3.00 £3.00 £0.00 Jul-08 £4.00 £3.00 £3.00 £0.00 Aug-08 £4.00 £3.00 £3.00 £0.00 Sep-08 £4.00 £3.00 £3.00 £0.00 Oct-08 £4.00 £3.00 £3.00 £0.00 Nov-08 £4.00 £3.00 £3.00 £0.00 Dec-08 £4.00 £3.00 £3.00 £0.00 Jan-09 £4.00 £3.00 £3.00 £0.00 Feb-09 £4.00 £3.00 £3.00 £0.00 Mar-09 £4.00 £3.00 £3.00 £0.00 Apr-09 £4.00 £3.00 £3.00 £0.00 £800 £150 £150 £0 £1,100 £800 £150 £150 £0 £1,100 £1,000 £180 £180 £0 £1,360 £1,000 £180 £180 £0 £1,360 £1,000 £210 £210 £0 £1,420 £1,200 £210 £210 £0 £1,620 £1,200 £240 £240 £0 £1,680 £1,200 £240 £240 £0 £1,680 £1,400 £270 £270 £0 £1,940 £1,400 £270 £270 £0 £1,940 £1,600 £300 £300 £0 £2,200 £1,600 £300 £300 £0 £2,200 Page 19 Appendix Personnel Plan Hairdresser Beautician Receptionist Total People Total Payroll 0% 0% 0% May-08 £1,600 £800 £800 4 Jun-08 £1,600 £800 £800 4 Jul-08 £1,600 £800 £800 4 Aug-08 £1,600 £800 £800 4 Sep-08 £1,600 £800 £800 4 Oct-08 £1,600 £800 £800 4 Nov-08 £1,600 £800 £800 4 Dec-08 £1,600 £800 £800 4 Jan-09 £1,600 £800 £800 4 Feb-09 £1,600 £800 £800 4 Mar-09 £1,600 £800 £800 4 Apr-09 £1,600 £800 £800 4 £3,200 £3,200 £3,200 £3,200 £3,200 £3,200 £3,200 £3,200 £3,200 £3,200 £3,200 £3,200 Page 20 Appendix Pro Forma Profit and Loss Total Cost of Sales May-08 ú11,750 ú1,100 ú0 -----------ú1,100 Jun-08 ú11,750 ú1,100 ú0 -----------ú1,100 Jul-08 ú14,500 ú1,360 ú0 -----------ú1,360 Aug-08 ú14,500 ú1,360 ú0 -----------ú1,360 Sep-08 ú15,200 ú1,420 ú0 -----------ú1,420 Oct-08 ú17,200 ú1,620 ú0 -----------ú1,620 Nov-08 ú17,950 ú1,680 ú0 -----------ú1,680 Dec-08 ú17,950 ú1,680 ú0 -----------ú1,680 Jan-09 ú20,650 ú1,940 ú0 -----------ú1,940 Feb-09 ú20,650 ú1,940 ú0 -----------ú1,940 Mar-09 ú23,250 ú2,200 ú0 -----------ú2,200 Apr-09 ú23,250 ú2,200 ú0 -----------ú2,200 Gross Margin Gross Margin % ú10,650 90.64% ú10,650 90.64% ú13,140 90.62% ú13,140 90.62% ú13,780 90.66% ú15,580 90.58% ú16,270 90.64% ú16,270 90.64% ú18,710 90.61% ú18,710 90.61% ú21,050 90.54% ú21,050 90.54% ú3,200 ú500 ú0 ú1,500 ú500 ú200 ú300 ú100 -----------ú6,300 ú3,200 ú500 ú0 ú1,500 ú500 ú200 ú300 ú100 -----------ú6,300 ú3,200 ú200 ú0 ú1,500 ú500 ú200 ú300 ú100 -----------ú6,000 ú3,200 ú200 ú0 ú1,500 ú500 ú200 ú300 ú100 -----------ú6,000 ú3,200 ú100 ú0 ú1,500 ú500 ú200 ú300 ú100 -----------ú5,900 ú3,200 ú100 ú0 ú1,500 ú500 ú200 ú300 ú100 -----------ú5,900 ú3,200 ú100 ú0 ú1,500 ú500 ú200 ú300 ú100 -----------ú5,900 ú3,200 ú100 ú0 ú1,500 ú500 ú200 ú300 ú100 -----------ú5,900 ú3,200 ú100 ú0 ú1,500 ú500 ú200 ú300 ú100 -----------ú5,900 ú3,200 ú100 ú0 ú1,500 ú500 ú200 ú300 ú100 -----------ú5,900 ú3,200 ú100 ú0 ú1,500 ú500 ú200 ú300 ú100 -----------ú5,900 ú3,200 ú100 ú0 ú1,500 ú500 ú200 ú300 ú100 -----------ú5,900 Profit Before Interest and Taxes EBITDA Interest Expense Taxes Incurred ú4,350 ú4,350 ú250 ú1,230 ú4,350 ú4,350 ú250 ú1,230 ú7,140 ú7,140 ú250 ú2,067 ú7,140 ú7,140 ú250 ú2,067 ú7,880 ú7,880 ú250 ú2,289 ú9,680 ú9,680 ú250 ú2,829 ú10,370 ú10,370 ú250 ú3,036 ú10,370 ú10,370 ú250 ú3,036 ú12,810 ú12,810 ú250 ú3,768 ú12,810 ú12,810 ú250 ú3,768 ú15,150 ú15,150 ú250 ú4,470 ú15,150 ú15,150 ú250 ú4,470 Net Profit Net Profit/Sales ú2,870 24.43% ú2,870 24.43% ú4,823 33.26% ú4,823 33.26% ú5,341 35.14% ú6,601 38.38% ú7,084 39.47% ú7,084 39.47% ú8,792 42.58% ú8,792 42.58% ú10,430 44.86% ú10,430 44.86% Sales Direct Cost of Sales Other Costs of Sales VAT Rate 17.50% Expenses Payroll Marketing/Promotion Depreciation Rent Rates Electricity Insurance Other VAT Rate Total Operating Expenses VAT Rate 17.50% 17.50% 0.00% 17.50% 0.00% 17.50% Page 21 Appendix Pro Forma Cash Flow May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 ú11,750 ú11,750 ú11,750 ú11,750 ú14,500 ú14,500 ú14,500 ú14,500 ú15,200 ú15,200 ú17,200 ú17,200 ú17,950 ú17,950 ú17,950 ú17,950 ú20,650 ú20,650 ú20,650 ú20,650 ú23,250 ú23,250 ú23,250 ú23,250 ú0 ú0 ú30,000 ú0 ú0 ú0 ú0 ú0 ú41,750 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú11,750 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú14,500 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú14,500 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú15,200 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú17,200 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú17,950 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú17,950 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú20,650 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú20,650 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú23,250 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú23,250 Expenditures May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 Expenditures from Operations Cash Spending Bill Payments Subtotal Spent on Operations ú8,880 ú0 ú8,880 ú8,880 ú0 ú8,880 ú9,677 ú0 ú9,677 ú9,677 ú0 ú9,677 ú9,859 ú0 ú9,859 ú10,599 ú0 ú10,599 ú10,866 ú0 ú10,866 ú10,866 ú0 ú10,866 ú11,858 ú0 ú11,858 ú11,858 ú0 ú11,858 ú12,820 ú0 ú12,820 ú12,820 ú0 ú12,820 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú8,880 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú8,880 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú9,677 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú9,677 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú9,859 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú10,599 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú10,866 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú10,866 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú11,858 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú11,858 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú12,820 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú12,820 ú32,870 ú32,870 ú2,870 ú35,740 ú4,823 ú40,563 ú4,823 ú45,386 ú5,341 ú50,727 ú6,601 ú57,328 ú7,084 ú64,412 ú7,084 ú71,496 ú8,792 ú80,288 ú8,792 ú89,080 ú10,430 ú99,510 ú10,430 ú109,940 Cash Received Cash from Operations Cash Sales Subtotal Cash from Operations Additional Cash Received VAT Received (Output Tax) VAT Repayments New Current Borrowing New Other Liabilities (interest-free) New Fixed Liabilities Sales of Other Current Assets Sales of Fixed Assets New Investment Received Subtotal Cash Received Additional Cash Spent VAT Paid Out (Input Tax) VAT Payments Principal Repayment of Current Borrowing Other Liabilities Principal Repayment Fixed Liabilities Principal Repayment Purchase Other Current Assets Purchase Fixed Assets Dividends Subtotal Cash Spent Net Cash Flow Cash Balance VAT Rate 17.50% 17.50% VAT Rate 17.50% 17.50% Page 22 Appendix Pro Forma Balance Sheet Assets May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 Starting Balances Current Assets Cash Other Current Assets Total Current Assets ú0 ú0 ú0 ú32,870 ú0 ú32,870 ú35,740 ú0 ú35,740 ú40,563 ú0 ú40,563 ú45,386 ú0 ú45,386 ú50,727 ú0 ú50,727 ú57,328 ú0 ú57,328 ú64,412 ú0 ú64,412 ú71,496 ú0 ú71,496 ú80,288 ú0 ú80,288 ú89,080 ú0 ú89,080 ú99,510 ú0 ú99,510 ú109,940 ú0 ú109,940 Fixed Assets Fixed Assets Accumulated Depreciation Total Fixed Assets Total Assets ú0 ú0 ú0 ú0 ú0 ú0 ú0 ú32,870 ú0 ú0 ú0 ú35,740 ú0 ú0 ú0 ú40,563 ú0 ú0 ú0 ú45,386 ú0 ú0 ú0 ú50,727 ú0 ú0 ú0 ú57,328 ú0 ú0 ú0 ú64,412 ú0 ú0 ú0 ú71,496 ú0 ú0 ú0 ú80,288 ú0 ú0 ú0 ú89,080 ú0 ú0 ú0 ú99,510 ú0 ú0 ú0 ú109,940 May-08 Jun-08 Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 Liabilities and Capital Current Liabilities Accounts Payable Current Borrowing Other Current Liabilities Subtotal Current Liabilities ú0 ú0 ú0 ú0 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 Fixed Liabilities Total Liabilities ú0 ú0 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú0 ú30,000 ú32,500 (ú32,500) ú0 ú0 ú0 ú32,500 (ú32,500) ú2,870 ú2,870 ú32,870 ú32,500 (ú32,500) ú5,740 ú5,740 ú35,740 ú32,500 (ú32,500) ú10,563 ú10,563 ú40,563 ú32,500 (ú32,500) ú15,386 ú15,386 ú45,386 ú32,500 (ú32,500) ú20,727 ú20,727 ú50,727 ú32,500 (ú32,500) ú27,328 ú27,328 ú57,328 ú32,500 (ú32,500) ú34,412 ú34,412 ú64,412 ú32,500 (ú32,500) ú41,496 ú41,496 ú71,496 ú32,500 ú32,500 (ú32,500) (ú32,500) ú50,288 ú59,080 ú50,288 ú59,080 ú80,288 ú89,080 ú32,500 (ú32,500) ú69,510 ú69,510 ú99,510 ú32,500 (ú32,500) ú79,940 ú79,940 ú109,940 ú0 ú2,870 ú5,740 ú10,563 ú15,386 ú20,727 ú27,328 ú34,412 ú41,496 ú50,288 ú69,510 ú79,940 Paid-in Capital Retained Earnings Earnings Total Capital Total Liabilities and Capital Net Worth ú59,080 Page 23
