Accounting assignment
mpjumah
IncomeStatement.docxA. Income Statement
|
Period |
Historical/ Pre-operation period |
Forecast period |
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|
Start of period |
|
|
|
|
JUN 2018 |
JUN 2019 |
JUN 2020 |
JUN 2021 |
JUN 2022 |
|
End of period |
|
|
|
|
JUN 2019 |
JUN 2020 |
JUN 2021 |
JUN 2022 |
JUN 2023 |
|
Revenue |
|
|
|
|
989,000 |
1,430,000 |
2,100,000 |
2,394,040 |
2,575,095 |
|
Cost |
|
|
|
|
6,930 |
10,690 |
13,290 |
14,490 |
14,490 |
|
Gross Profit |
|
|
|
|
982,070 |
1,419,310 |
2,086,710 |
2,379 |
2,560,605 |
|
Staff Cost |
|
|
|
|
96,960 |
96,960 |
96,960 |
96,960 |
96,960 |
|
General & Administrative Expenses |
|
|
|
|
22,680 |
21,720 |
21,480 |
21,480 |
21,480 |
|
Sales & Marketing Expenses |
|
|
|
|
27,970 |
25,500 |
22,500 |
21,300 |
21,300 |
|
IATA Dues |
|
|
|
|
362,250 |
543,600 |
753532 |
829458 |
895197 |
|
Hotels Dues |
|
|
|
|
442,750 |
664,400 |
920,984 |
1,013,782 |
1,094,130 |
|
EBITDA |
|
|
|
|
184,000 |
222,000 |
425,484 |
550,800 |
585,768 |
|
Depreciation & Amortization |
|
|
|
|
9,831 |
7,865 |
6,292 |
5,034 |
4,027 |
|
EOSB Provisions |
|
|
|
|
|
1000 |
1500 |
2250 |
5000 |
|
EBIT |
|
|
|
|
174,169 |
213,135 |
417,692 |
543,516 |
576,741 |
|
Finance Cost |
|
|
|
|
|
|
|
4,000 |
3,667 |
|
EBT |
|
|
|
|
174,169 |
213,135 |
417,692 |
539,516 |
573,074 |
|
Tax Provisions (KFAS, Zakat, other) |
|
|
|
|
3679 |
5328 |
10442 |
13487 |
14327 |
|
Net Profit |
|
|
|
|
170,490 |
207,807 |
207,807 |
526,029 |
558,747 |
B. Balance Sheet
|
Period |
Historical/ Pre-operation period |
Forecast period |
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|
Start of period |
|
|
|
|
JUN 2018 |
JUN 2029 |
JUN 2020 |
JUN 2021 |
JUN 2022 |
|
End of period |
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|
|
|
JUN 2019 |
JUN 2020 |
JUN 2021 |
JUN 2022 |
JUN 2023 |
|
Assets |
|
|
|
|
|
49,158 |
49,158 |
49,158 |
49,158 |
|
Current Assets |
|
|
|
|
122,342 |
|
|
|
|
|
Cash & Bank Balance |
|
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Accounts Receivables |
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Inventories |
|
|
|
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|
|
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Other Current Assets |
|
|
|
|
84,000 |
84,000 |
84,000 |
|
|
|
Total current assets |
|
|
|
|
206,342 |
|
|
|
|
|
Non-current Assets |
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|
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Land |
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|
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Construction work in progress |
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|
|
|
|
|
|
|
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|
Property Plant & Equipment |
|
|
|
|
17,658 |
|
|
|
|
|
Intangible Assets |
|
|
|
|
30,000 |
|
|
|
|
|
Other Fixed Assets |
|
|
|
|
|
|
|
|
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|
Total non-current Assets |
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|
|
|
|
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Total assets |
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|
|
|
250,000 |
|
|
|
|
|
Liabilities & Equities |
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Current liabilities |
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Accounts payable |
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salaries payable |
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|
|
|
8,080 |
8,080 |
8,080 |
|
|
|
Dividends Payable |
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Tax Payable |
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Overdraft |
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|
|
|
|
|
|
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Other Current Liabilities |
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|
|
|
34,920 |
37,250 |
34,610 |
|
|
|
Total Current Liabilities |
|
|
|
|
43,000 |
45,330 |
42,690 |
|
|
|
Non-current liabilities |
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|
|
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Long-term Portion of Loan |
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EOSB Provisions |
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|
|
|
|
|
|
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Other Non-Current Liabilities |
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|
|
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Total non-current liabilities |
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Shareholders’ Equity |
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|
|
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Share Capital |
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Statutory Reserves |
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Voluntary Reserves |
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Retained Earning |
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Other Accounts |
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Total Shareholders’ Equity |
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Total Liabilities & Equity |
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C. Cash Flow Statement
|
Period |
Historical/ Pre-operation period |
Forecast period |
|||||||
|
Start of period |
|
|
|
|
JUN 2018 |
JUN 2019 |
JUN 2020 |
JUN 2021 |
JUN 2022 |
|
End of period |
|
|
|
|
JUN 2019 |
JUN 2020 |
JUN 2021 |
JUN 2022 |
JUN 2023 |
|
Operating Activities |
|
|
|
|
154,540 |
154,870 |
154,230 |
|
|
|
Net Profit |
|
|
|
|
170,490 |
207,807 |
207,807 |
|
|
|
Add: |
|
|
|
|
|
|
|
|
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|
Depreciation & Amortization |
|
|
|
|
9,831 |
7,865 |
6,292 |
|
|
|
Finance Cost |
|
|
|
|
|
|
|
|
|
|
EOSB Provisions |
|
|
|
|
0 |
1000 |
1500 |
|
|
|
Tax Provisions |
|
|
|
|
3679 |
5328 |
10442 |
|
|
|
Deduct: |
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|
|
|
|
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EOSB Paid |
|
|
|
|
0 |
1000 |
1500 |
|
|
|
Tax Paid |
|
|
|
|
3679 |
5328 |
10442 |
|
|
|
Working Capital Changes |
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|
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Accounts Receivables |
|
|
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|
|
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|
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Inventories |
|
|
|
|
|
|
|
|
|
|
Other Current Assets |
|
|
|
|
84,000 |
84,000 |
84,000 |
|
|
|
Accounts Payable |
|
|
|
|
|
|
|
|
|
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Other Current Liabilities |
|
|
|
|
34,920 |
37,250 |
34,610 |
|
|
|
Cash Flow from Operations |
|
|
|
|
989,000 |
1,430,000 |
2,100,000 |
|
|
|
Investing Activities |
|
|
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
|
|
|
|
17,658 |
0 |
0 |
|
|
|
Other Investments |
|
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Proceeds from sale of fixed assets |
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Period |
Historical/ Pre-operation period |
Forecast period |
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Start of period |
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End of period |
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Cash flow from Investments |
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Financing Activities |
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Share Capital |
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Loan Additions |
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Other Accounts |
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Loan Repayment |
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Finance Cost Paid |
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Dividends Paid |
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Cash flow from Financing |
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Change in cash |
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Opening Cash |
|
|
|
|
250,000 |
|
|
|
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Net Cash Flow |
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Closing Cash |
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Minimum Cash |
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Overdraft Raised |
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Closing Cash -After OD |
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