Accounting & Finance - Coursework Assignment
Contribution Statement
| CONTRIBUTION STATEMENT | ||||||||||||||||
| JANUARY | FEBRUARY | MARCH | APRIL | MAY | JUNE | JULY | AUGUST | SEPTEMBER | OCTOBER | NOVEMBER | DECEMBER | TOTAL: | ||||
| Selling price: | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | |||
| Less variable costs p.u.: | ||||||||||||||||
| Direct Material (Cotton): | -£ 5.40 | -£ 5.40 | -£ 5.40 | -£ 5.40 | -£ 5.40 | -£ 5.40 | -£ 5.40 | -£ 5.40 | -£ 5.40 | -£ 5.40 | -£ 5.40 | -£ 5.40 | -£ 5.40 | |||
| Direct Material (Thread): | -£ 0.60 | -£ 0.60 | -£ 0.60 | -£ 0.60 | -£ 0.60 | -£ 0.60 | -£ 0.60 | -£ 0.60 | -£ 0.60 | -£ 0.60 | -£ 0.60 | -£ 0.60 | -£ 0.60 | |||
| Direct Labour: | -£ 1.75 | -£ 1.75 | -£ 1.75 | -£ 1.75 | -£ 1.75 | -£ 1.75 | -£ 1.75 | -£ 1.75 | -£ 1.75 | -£ 1.75 | -£ 1.75 | -£ 1.75 | -£ 1.75 | |||
| Transfer paper: | -£ 0.15 | -£ 0.15 | -£ 0.15 | -£ 0.15 | -£ 0.15 | -£ 0.15 | -£ 0.15 | -£ 0.15 | -£ 0.15 | -£ 0.15 | -£ 0.15 | -£ 0.15 | -£ 0.15 | |||
| Total Variable cost per unit: | -£ 7.90 | -£ 7.90 | -£ 7.90 | -£ 7.90 | -£ 7.90 | -£ 7.90 | -£ 7.90 | -£ 7.90 | -£ 7.90 | -£ 7.90 | -£ 7.90 | -£ 7.90 | -£ 7.90 | |||
| Contribution per unit: | £ 12.10 | £ 12.10 | £ 12.10 | £ 12.10 | £ 12.10 | £ 12.10 | £ 12.10 | £ 12.10 | £ 12.10 | £ 12.10 | £ 12.10 | £ 12.10 | £ 12.10 | |||
| Sales per event: | 2000 | 2200 | 2420 | 2662 | 2928 | 3221 | 3382 | 3551 | 3729 | 3915 | 4111 | 4316 | 38436 | |||
| Total Contribution: | £ 24,200.00 | £ 26,620.00 | £ 29,282.00 | £ 32,210.20 | £ 35,431.22 | £ 38,974.34 | £ 40,923.06 | £ 42,969.21 | £ 45,117.67 | £ 47,373.56 | £ 49,742.23 | £ 52,229.35 | £ 465,072.84 | |||
| Total fixed cost: | -£ 13,019.5 | -£ 13,019.5 | -£ 13,019.5 | -£ 13,019.5 | -£ 13,019.5 | -£ 13,019.5 | -£ 13,019.5 | -£ 13,019.5 | -£ 13,019.5 | -£ 13,019.5 | -£ 13,019.5 | -£ 13,019.5 | -£ 156,234.00 | |||
| PROFIT: | £ 11,180.50 | £ 13,600.50 | £ 16,262.50 | £ 19,190.70 | £ 22,411.72 | £ 25,954.84 | £ 27,903.56 | £ 29,949.71 | £ 32,098.17 | £ 34,354.06 | £ 36,722.73 | £ 39,209.85 | £ 308,838.84 | |||
| C/S ratio: | (CPU/ Sales Price)*100 | (12.10/20)*100= 60.5% | ||||||||||||||
Capital Expenditure Budget
| CAPITAL EXPENDITURE BUDGET | |||||||||
| Description of capital investment items | Month: | Net book value: | Depreciation: | Amount: | |||||
| 1 | 5 T- shirt heating press machine | January | £ 1,280.00 | £ 320.00 | £ 1,600.00 | ||||
| 2 | T-shirt manufacturing machine | January | £ 6,400.00 | £ 1,600.00 | £ 8,000.00 | ||||
| 3 | Furniture | January | £ 256.00 | £ 64.00 | £ 320.00 | ||||
| 4 | 6 Computer | January | £ 2,400.00 | £ 600.00 | £ 3,000.00 | ||||
| Total capital expenditure: | £ 10,336.00 | £ 2,584.00 | £ 12,920.00 | ||||||
Sales Budget
| SALES BUDGET | ||||||||||||||
| JANUARY | FEBRUARY | MARCH | APRIL | MAY | JUNE | JULY | AUGUST | SEPTEMBER | OCTOBER | NOVEMBER | DECEMBER | TOTAL: | ||
| Sales Units: | 2000 | 2200 | 2420 | 2662 | 2928 | 3221 | 3382 | 3551 | 3729 | 3915 | 4111 | 4316 | 38436 | |
| Selling price: | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | £ 20.00 | ||
| Total Revenue: | £ 40,000.0 | £ 44,000.0 | £ 48,400.0 | £ 53,240.0 | £ 58,564.0 | £ 64,420.4 | £ 67,641.4 | £ 71,023.5 | £ 74,574.7 | £ 78,303.4 | £ 82,218.6 | £ 86,329.5 | £ 768,715.4 | |
SALES
JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER 2000 2200 2420 2662 2928.2000000000003 3221.0200000000004 3382.0710000000008 3551.1745500000011 3728.7332775000013 3915.1699413750016 4110.9284384437515 4316.4748603659391
Schedule Of Cash Collection
| SCHEDULE OF CASH COLLECTION | ||||||||||||||
| JANUARY | FEBRUARY | MARCH | APRIL | MAY | JUNE | JULY | AUGUST | SEPTEMBER | OCTOBER | NOVEMBER | DECEMBER | TOTAL: | ||
| JANUARY | 20000 | 20000 | - | - | - | - | - | - | - | - | - | - | 40000 | |
| FEBRUARY | - | 22000 | 22000 | - | - | - | - | - | - | - | - | - | 44000 | |
| MARCH | - | - | 24200 | 24200 | - | - | - | - | - | - | - | - | 48400 | |
| APRIL | - | - | - | 26620 | 26620 | - | - | - | - | - | - | - | 53240 | |
| MAY | - | - | - | - | 29282 | 29282 | - | - | - | - | - | - | 58564 | |
| JUNE | - | - | - | - | - | 32210.2 | 32210.2 | - | - | - | - | - | 64420.4 | |
| JULY | - | - | - | - | - | - | 33820.7 | 33820.7 | - | - | - | - | 67641.4 | |
| AUGUST | - | - | - | - | - | - | - | 35511.7 | 35511.7 | - | - | - | 71023.4 | |
| SEPTEMBER | - | - | - | - | - | - | - | - | 37287.3 | 37287.3 | - | - | 74574.6 | |
| OCTOBER | - | - | - | - | - | - | - | - | - | 39151.7 | 39151.7 | - | 78303.4 | |
| NOVEMBER | - | - | - | - | - | - | - | - | - | - | 41109.3 | 41109.3 | 82218.6 | |
| DECEMBER | - | - | - | - | - | - | - | - | - | - | - | 43164.7 | 43164.7 | |
| SUB-TOTAL: | 20000 | 42000 | 46200 | 50820 | 55902 | 61492.2 | 66030.9 | 69332.4 | 72799 | 76439 | 80261 | 84274 | 725550.5 | |
Production Budget
| PRODUCTION BUDGET | ||||||||||||||
| JANUARY | FEBRUARY | MARCH | APRIL | MAY | JUNE | JULY | AUGUST | SEPTEMBER | OCTOBER | NOVEMBER | DECEMBER | TOTAL: | ||
| Sales unit | 2000 | 2200 | 2420 | 2662 | 2928 | 3221 | 3382 | 3551 | 3729 | 3915 | 4111 | 4316 | 38436 | |
| All closing stock | 100 | 110 | 121 | 133 | 146 | 161 | 169 | 178 | 186 | 196 | 206 | 216 | 1922 | |
| Less opening stock | 0 | -100 | -110 | -121 | -133 | -146 | -161 | -169 | -178 | -186 | -196 | -206 | -1706 | |
| Production units | 2100 | 2210 | 2431 | 2674.1 | 2941.6 | 3236.1 | 3390.2 | 3559.7 | 3737.2 | 3924.9 | 4120.5 | 4326.3 | 38651.6 | |
Purchases And Inventory Budget
| PURCHASES AND INVENTORY BUDGETS | ||||||||||||||
| JANUARY | FEBRUARY | MARCH | APRIL | MAY | JUNE | JULY | AUGUST | SEPTEMBER | OCTOBER | NOVEMBER | DECEMBER | TOTAL: | ||
| Production Units | 2000 | 2200 | 2420 | 2662 | 2928 | 3221 | 3382 | 3551 | 3729 | 3915 | 4111 | 4316 | ||
| Kg. of cotton p.u. | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | ||
| Tot. Kg. of cotton | 1800.0 | 1980.0 | 2178.0 | 2395.8 | 2635.4 | 2898.9 | 3043.9 | 3196.1 | 3355.9 | 3523.7 | 3699.8 | 3884.8 | 34592.19 | |
| Add closing stock | 30 | 33 | 36.3 | 40 | 44 | 48 | 51 | 53 | 56 | 59 | 62 | 65 | 576.54 | |
| Less opening stock | 0 | 30 | 33 | 36.3 | 40 | 44 | 48 | 51 | 53 | 56 | 59 | 62 | -512.3 | |
| Sub-Total | 1,830.0 | 1,983.0 | 2,181.3 | 2,399.4 | 2,639.3 | 2,903.2 | 3,046.6 | 3,198.3 | 3,358.8 | 3,526.4 | 3,702.5 | 3,887.6 | 34,656.43 | |
| Cost per Kg. | £ 6.00 | £ 6.00 | £ 6.00 | £ 6.00 | £ 6.00 | £ 6.00 | £ 6.00 | £ 6.00 | £ 6.00 | £ 6.00 | £ 6.00 | £ 6.00 | ||
| Total Cost | £ 10,980.0 | £ 11,898.0 | £ 13,087.8 | £ 14,396.6 | £ 15,835.8 | £ 17,419.4 | £ 18,279.6 | £ 19,189.9 | £ 20,152.7 | £ 21,158.3 | £ 22,215.0 | £ 23,325.4 | £ 207,938.59 | |
| JANUARY | FEBRUARY | MARCH | APRIL | MAY | JUNE | JULY | AUGUST | SEPTEMBER | OCTOBER | NOVEMBER | DECEMBER | TOTAL: | ||
| Production Units | 2000 | 2200 | 2420 | 2662 | 2928 | 3221 | 3382 | 3551 | 3729 | 3915 | 4111 | 4316 | ||
| Kg. of thread p.u. | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | ||
| Tot. Kg. of thread | 300.0 | 330.0 | 363.0 | 399.3 | 439.2 | 483.2 | 507.3 | 532.7 | 559.3 | 587.3 | 616.6 | 647 | 5765.37 | |
| Add closing stock | 5 | 5.5 | 6.05 | 6.7 | 7.3 | 8.1 | 8.5 | 8.9 | 9.3 | 9.8 | 10.3 | 10.8 | 96.09 | |
| Less opening stock | 0 | -5 | -5.5 | -6.05 | -6.7 | -7.3 | -8.1 | -8.5 | -8.9 | -9.3 | -9.8 | -10.3 | 85.45 | |
| Sub-total | 305.0 | 330.5 | 363.6 | 399.9 | 439.9 | 483.9 | 507.7 | 533.1 | 559.7 | 587.8 | 617.1 | 648.0 | 5776 | |
| Cost per Kg. | £ 4.00 | £ 4.00 | £ 4.00 | £ 4.00 | £ 4.00 | £ 4.00 | £ 4.00 | £ 4.00 | £ 4.00 | £ 4.00 | £ 4.00 | £ 4.00 | ||
| Total Cost | £ 1,220.00 | £ 1,322.00 | £ 1,454.20 | £ 1,599.62 | £ 1,759.40 | £ 1,935.62 | £ 2,030.66 | £ 2,132.22 | £ 2,238.93 | £ 2,351.05 | £ 2,468.47 | £ 2,591.85 | £ 23,104.02 | |
Schedule of suppliers payment
| SCHEDULE OF SUPPLIERS PAYMENT | ||||||||||||||
| Cotton | ||||||||||||||
| JANUARY | FEBRUARY | MARCH | APRIL | MAY | JUNE | JULY | AUGUST | SEPTEMBER | OCTOBER | NOVEMBER | DECEMBER | TOTAL: | ||
| JANUARY | £ 6,588.0 | £ 4,392.0 | - | - | - | - | - | - | - | - | - | - | £ 10,980.0 | |
| FEBRUARY | - | £ 7,138.8 | £ 4,759.2 | - | - | - | - | - | - | - | - | - | £ 11,898.0 | |
| MARCH | - | - | £ 7,852.7 | £ 5,235.1 | - | - | - | - | - | - | - | - | £ 13,087.8 | |
| APRIL | - | - | - | £ 8,637.9 | £ 5,758.6 | - | - | - | - | - | - | - | £ 14,396.5 | |
| MAY | - | - | - | - | £ 9,501.5 | £ 6,334.3 | - | - | - | - | - | - | £ 15,835.8 | |
| JUNE | - | - | - | - | - | £ 10,451.6 | £ 6,967.8 | - | - | - | - | - | £ 17,419.4 | |
| JULY | - | - | - | - | - | - | £ 10,967.8 | £ 7,311.8 | - | - | - | - | £ 18,279.6 | |
| AUGUST | - | - | - | - | - | - | - | £ 11,513.9 | £ 7,675.9 | - | - | - | £ 19,189.8 | |
| SEPTEMBER | - | - | - | - | - | - | - | - | £ 12,091.6 | £ 8,061.1 | - | - | £ 20,152.7 | |
| OCTOBER | - | - | - | - | - | - | - | - | - | £ 12,694.9 | £ 8,463.3 | - | £ 21,158.2 | |
| NOVEMBER | - | - | - | - | - | - | - | - | - | - | £ 13,329.0 | £ 8,886.0 | £ 22,215.0 | |
| DECEMBER | - | - | - | - | - | - | - | - | - | - | - | £ 13,995.2 | £ 13,995.2 | |
| SUB-TOTAL: | £ 6,588.0 | £ 11,530.8 | £ 12,611.9 | £ 13,873.0 | £ 15,260.1 | £ 16,785.9 | £ 17,935.6 | £ 18,825.7 | £ 19,767.5 | £ 20,756.0 | £ 21,792.3 | £ 22,881.2 | £ 198,608.0 | |
| SCHEDULE OF SUPPLIERS PAYMENT | ||||||||||||||
| Thread | ||||||||||||||
| JANUARY | FEBRUARY | MARCH | APRIL | MAY | JUNE | JULY | AUGUST | SEPTEMBER | OCTOBER | NOVEMBER | DECEMBER | TOTAL: | ||
| JANUARY | £ 732.0 | £ 488.0 | - | - | - | - | - | - | - | - | - | - | 1220.0 | |
| FEBRUARY | - | £ 793.2 | £ 528.8 | - | - | - | - | - | - | - | - | - | 1322.0 | |
| MARCH | - | - | £ 872.5 | £ 581.7 | - | - | - | - | - | - | - | - | 1454.2 | |
| APRIL | - | - | - | £ 959.8 | £ 639.8 | - | - | - | - | - | - | - | 1599.6 | |
| MAY | - | - | - | - | £ 1,055.6 | £ 703.8 | - | - | - | - | - | - | 1759.4 | |
| JUNE | - | - | - | - | - | £ 1,161.4 | £ 774.2 | - | - | - | - | - | 1935.6 | |
| JULY | - | - | - | - | - | - | £ 1,218.4 | £ 812.3 | - | - | - | - | 2030.7 | |
| AUGUST | - | - | - | - | - | - | - | £ 1,279.3 | £ 852.9 | - | - | - | 2132.2 | |
| SEPTEMBER | - | - | - | - | - | - | - | - | £ 1,343.4 | £ 895.6 | - | - | 2238.9 | |
| OCTOBER | - | - | - | - | - | - | - | - | - | £ 1,410.6 | £ 940.4 | - | 2351.1 | |
| NOVEMBER | - | - | - | - | - | - | - | - | - | - | £ 1,481.1 | £ 987.4 | 2468.5 | |
| DECEMBER | - | - | - | - | - | - | - | - | - | - | - | £ 1,555.1 | 1555.1 | |
| SUB-TOTAL: | £ 732.0 | £ 1,281.2 | £ 1,401.3 | £ 1,541.5 | £ 1,695.5 | £ 1,865.1 | £ 1,992.6 | £ 2,091.6 | £ 2,196.2 | £ 2,306.2 | £ 2,421.5 | £ 2,542.5 | 22067.3 | |
Direct Labour Budget
| DIRECT LABOUR BUDGET | ||||||||||||||
| JANUARY | FEBRUARY | MARCH | APRIL | MAY | JUNE | JULY | AUGUST | SEPTEMBER | OCTOBER | NOVEMBER | DECEMBER | TOTAL: | ||
| Production Units | 2000 | 2200 | 2420 | 2662 | 2928 | 3221 | 3382 | 3551 | 3729 | 3915 | 4111 | 4316 | 38436 | |
| Minutes p.t-shirt | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | ||
| Tot.hours | 500 | 550 | 605 | 665.5 | 732.1 | 805.3 | 845.5 | 887.8 | 932.2 | 978.8 | 1027.7 | 1079.1 | 9608.9 | |
| Cost p.hour | £ 7.0 | £ 7.0 | £ 7.0 | £ 7.0 | £ 7.0 | £ 7.0 | £ 7.0 | £ 7.0 | £ 7.0 | £ 7.0 | £ 7.0 | £ 7.0 | ||
| TOT.COST | £ 3,500.0 | £ 3,850.0 | £ 4,235.0 | £ 4,658.5 | £ 5,124.4 | £ 5,636.8 | £ 5,918.6 | £ 6,214.6 | £ 6,525.3 | £ 6,851.5 | £ 7,194.1 | £ 7,553.8 | £ 67,262.6 | |
Direct labour
JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER 500 550 605 665.5 732.05000000000007 805.255 845.51775000000021 887.79363750000027 932.18331937500034 978.7924853437504 1027.7321096109379 1079.1187150914848
Overheads Budget
| OVERHEADS BUDGET | ||||||||||||||
| JANUARY | FEBRUARY | MARCH | APRIL | MAY | JUNE | JULY | AUGUST | SEPTEMBER | OCTOBER | NOVEMBER | DECEMBER | TOTAL: | ||
| Advertising: | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | £ 6,000.00 | |
| Rent Factory: | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 36,000.00 | |
| Utilities: | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 12,000.00 | |
| Office expenses: | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | £ 2,400.00 | |
| Trainer: | £ 250.00 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ 250.00 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ 500.00 | |
| Fixed Wages: | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 96,000.00 | |
| Depreciation: | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ 2,584.00 | £ 2,584.00 | |
| Bank Interests: | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | £ 750.00 | |
| Sub-Total | £ 13,012.50 | £ 12,762.50 | £ 12,762.50 | £ 12,762.50 | £ 12,762.50 | £ 12,762.50 | £ 13,012.50 | £ 12,762.50 | £ 12,762.50 | £ 12,762.50 | £ 12,762.50 | £ 15,346.50 | £ 156,234.00 | |
Cash Budget
| January | February | March | April | May | June | July | August | September | October | November | December | ||
| OPENING BALANCE | £ - 0 | -£ 3,302.5 | £ 7,693.0 | £ 21,269.3 | £ 37,604.5 | £ 56,974.8 | £ 79,683.4 | £ 105,097.8 | £ 132,753.1 | £ 162,491.2 | £ 194,416.7 | £ 228,640.57 | |
| INFLOWS | |||||||||||||
| Sales receipt1 | £ 20,000.00 | £ 22,000.00 | £ 24,200.00 | £ 26,620.00 | £ 29,282.00 | £ 32,210.20 | £ 33,820.71 | £ 35,511.75 | £ 37,287.33 | £ 39,151.70 | £ 41,109.28 | £ 43,164.75 | |
| Sales receipt2 | £ - 0 | £ 20,000.00 | £ 22,000.00 | £ 24,200.00 | £ 26,620.00 | £ 29,282.00 | £ 32,210.20 | £ 33,820.71 | £ 35,511.75 | £ 37,287.33 | £ 39,151.70 | £ 41,109.28 | |
| Bank loan | £ 15,000.00 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| TOTAL INFLOWS | £ 35,000.00 | £ 42,000.00 | £ 46,200.00 | £ 50,820.00 | £ 55,902.00 | £ 61,492.20 | £ 66,030.91 | £ 69,332.46 | £ 72,799.08 | £ 76,439.03 | £ 80,260.98 | £ 84,274.03 | |
| OUTFLOWS | |||||||||||||
| T-shirt heating press machine | £ 1,600.00 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | |
| T-shirt making machine | £ 8,000.00 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | |
| Furniture | £ 320.00 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | |
| Computer | £ 3,000.00 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | |
| Direct material (cotton) | £ 6,588.00 | £ 11,530.80 | £ 12,611.88 | £ 13,873.07 | £ 15,260.12 | £ 16,785.97 | £ 17,935.50 | £ 18,825.80 | £ 19,767.63 | £ 20,756.07 | £ 21,792.31 | £ 22,881.27 | |
| Direct material (thread) | £ 732.00 | £ 1,281.20 | £ 1,401.32 | £ 1,541.45 | £ 1,695.49 | £ 1,865.13 | £ 1,992.65 | £ 2,091.60 | £ 2,196.24 | £ 2,306.20 | £ 2,421.50 | £ 2,542.50 | |
| Direct Labour | £ 3,500.0 | £ 3,850.0 | £ 4,235.0 | £ 4,658.5 | £ 5,124.4 | £ 5,636.8 | £ 5,918.6 | £ 6,214.6 | £ 6,525.3 | £ 6,851.5 | £ 7,194.1 | £ 7,553.8 | |
| Paper sheet | £ 300.00 | £ 330.00 | £ 363.00 | £ 399.30 | £ 439.23 | £ 483.15 | £ 507.31 | £ 532.68 | £ 559.31 | £ 587.28 | £ 616.64 | £ 647.47 | |
| Fixed wages | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | £ 8,000.00 | |
| Trainer: | £ 250.00 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ 250.00 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | £ - 0 | |
| Rent | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | £ 3,000.00 | |
| Loan repayment | £ 1,250.00 | £ 1,250.00 | £ 1,250.00 | £ 1,250.00 | £ 1,250.00 | £ 1,250.00 | £ 1,250.00 | £ 1,250.00 | £ 1,250.00 | £ 1,250.00 | £ 1,250.00 | £ 1,250.00 | |
| Bank Interests | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | £ 62.50 | |
| Utilities | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | £ 1,000.00 | |
| Advertising | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | £ 500.00 | |
| Office Expenses | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | £ 200.00 | |
| TOTAL OUTFLOWS | £ 38,302.50 | £ 31,004.50 | £ 32,623.70 | £ 34,484.82 | £ 36,531.69 | £ 38,783.54 | £ 40,616.58 | £ 41,677.12 | £ 43,060.96 | £ 44,513.59 | £ 46,037.08 | £ 47,637.57 | |
| CLOSING BALANCE | -£ 3,302.5 | £ 7,693.0 | £ 21,269.3 | £ 37,604.5 | £ 56,974.8 | £ 79,683.4 | £ 105,097.8 | £ 132,753.1 | £ 162,491.2 | £ 194,416.7 | £ 228,640.6 | £ 265,277.03 |
Income Statement
| Income Stamement | ||||
| SALES: | £ 768,715.4 | |||
| Cost of Sales: | ||||
| Opening Stock | £ - 0 | |||
| Raw Material Purchases | £ 236,808.0 | |||
| Less Closing Raw material | -£ 433.2 | |||
| Add Labour cost | £ 67,262.6 | |||
| Total production Cost | £ 303,637.4 | |||
| Less closing finished production | ||||
| -£ 1,706.4 | ||||
| -£ 301,931.0 | ||||
| GROSS PROFIT: | £ 466,784.4 | |||
| Less Overheads: | ||||
| Advertising | -£ 6,000.00 | |||
| Rent Factory | -£ 36,000.00 | |||
| Utilities | -£ 12,000.00 | |||
| Office expenses | -£ 2,400.00 | |||
| Trainer | -£ 500.00 | |||
| Fixed Wages | -£ 96,000.00 | |||
| Depreciation | -£ 2,584.00 | |||
| Bank Interests | -£ 750.00 | |||
| -£ 156,234.00 | ||||
| Operating Profit = Net Profit before taxation | ||||
| £ 310,550.4 | ||||
| Less Corporate tax (20%) | -£ 62,110.1 | |||
| Profit for the year after taxation= Retained profit for the year | ||||
| £ 248,440.3 | ||||
Balance Sheet
| Balance Sheet | ||||||||
| COSTS | DEP'N TO DATE | NET | ||||||
| Non-current assets: | ||||||||
| T-Shirt heating press machine | £ 1,600.00 | £ 320.00 | £ 1,280.00 | |||||
| T-shirt making machine | £ 8,000.00 | £ 1,600.00 | £ 6,400.00 | |||||
| Furniture | £ 320.00 | £ 64.00 | £ 256.00 | |||||
| Computers | £ 3,000.00 | £ 600.00 | £ 2,300.00 | |||||
| £ 12,920.00 | £ 2,584.00 | £ 10,336.00 | ||||||
| Current assets: | ||||||||
| Stock (Closing inventory) | £ 2,139.6 | |||||||
| Bank/cash | £ 265,277.0 | |||||||
| Debtors | £ 43,164.7 | |||||||
| £ 310,581.4 | ||||||||
| Less current liabilities: | ||||||||
| Corporate Taxation | -£ 62,110.1 | |||||||
| Creditors | -£ 10,366.9 | |||||||
| -£ 72,477.0 | ||||||||
| Working capital: | £ 238,104.4 | |||||||
| Net Assets: | £ 248,440.4 | |||||||
| Equity : | ||||||||
| Capital: | £ - 0 | |||||||
| Retained profit: | £ 248,440.3 | |||||||
| Total: | £ 248,440.3 | |||||||