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Projected Financial Statements
Schedule of Data

1 Basic details
Project name

Year Headings Year 1 Year 2 Year 3 Year 4 Year 5 Enter as dd/mm/yy or text.

2 Property Portfolio & Acquisition Costs
Initial
Area Original Purchase Initial Market
Beds Sq. ft. List Price Cost Reval'n Value
Apartment Floor & Baths Aspect Parking re S. Chg £,000 % £,000 £,000 £,000

Aprt. 1 G 2/2.5 Dual Yes 1938 1 8% 2,250 750 3,000
Aprt. 2 UG Studio/1 NE No 366 1 8% 2,250 750 3,000
Aprt. 3 1st 2 / 2.5 SW Yes 1625 1 8% 2,250 750 3,000
Aprt. 4 1st 2 / 2.5 NE Yes 1690 1 8% 2,250 750 3,000
Aprt. 5 2nd 2 / 2.5 SW Yes 1625 1 8% 2,250 750 3,000
Aprt. 6 2nd 2 / 2.5 NE Yes 1690 1 8% 2,250 750 3,000
Aprt. 7 3rd 2 / 2.5 SW Yes 1625 1 8% 2,250 750 3,000
Aprt. 8 3rd 2 / 2.5 NE Yes 1690 1 8% 2,250 750 3,000
Aprt. 9 4th 3 / 3.5 Dual Yes 3348 1 8% 2,250 750 3,000
Aprt. 10 5th 3 / 3.5 Dual Yes 3348 1 8% 2,250 750 3,000
Aprt. 11 6th 3 / 3.5 Dual Yes 3089 1 8% 2,250 750 3,000
Aprt. 12 7th 2 / 2.5 Dual Yes 1927 1 8% 2,249 751 3,000

23,961 12 100% 27,000 9,001 36,000

Legal fees on acquisition 200 (200) -
Stamp Duty 4.00% 1,080 (1,080) -
Hudson Global 2.00% 540 (540) -

Total purchase price 28,820 7,181 36,000

3 Forecast Capital Growth & Disposal Proceeds
Knight Fisher
Forecast Growth Value Disposal Portfolio Profit on
London - Super Prime B/fwd Reval'n Proceeds Value Disposal Term

Year 0 n/a 28,820 7,181 36,001 -
Year 1 2.00% 36,001 720 36,721 - -
Year 2 5.00% 36,721 1,836 38,557 - -
Year 3 12.00% 38,557 4,627 43,184 - -
Year 4 9.00% 43,184 3,887 47,071 - -
Year 5 6.00% 47,071 2,824 49,893 2 21,073 5
5
Enter sale proceeds in disposal column for any year, do not dispose of at higher than Market Value or an error will occur.

4 Fixtures & Fittings
Year 1 Year 2 Year 3 Year 4 Year 5

NBV B/fwd - 144 108 152 76 Enter Fixture & Fittings Additions
Additions 180 120 in the relevant year. Depreciation
Disposals - - - - (76) is calculated automatically and
Depreciation (36) (36) (76) (76) - disposal is tied to property
disposal date.
NBV C/fwd 144 108 152 76 -

5 Rental Income (year 1)
Year 1 Year 2 Year 3 Year 4 Year 5
Void period estimate 20% 9% 9% 9% 9%

Rental Void Net
Income Periods of voids
Apartment £,000 £,000 £,000

Aprt. 1 8% 110.50 22.10 88.40
Aprt. 2 1% 20.15 4.03 16.12
Aprt. 3 6% 89.70 17.94 71.76
Aprt. 4 7% 98.80 19.76 79.04
Aprt. 5 6% 89.70 17.94 71.76
Aprt. 6 7% 98.80 19.76 79.04 Yield on borrowing 6.23%
Aprt. 7 6% 89.70 17.94 71.76
Aprt. 8 7% 98.80 19.76 79.04 Yield on purch. Price 3.94%
Aprt. 9 13% 185.25 37.05 148.20
Aprt. 10 13% 185.25 37.05 148.20
Aprt. 11 13% 185.25 37.05 148.20
Aprt. 12 12% 165.75 33.15 132.60

100% 1,417.65 283.53 1,134.12
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46457983.xlsile

080 28.82 3.61 Aprt.1% 2.1% 2.0% Admin Costs 0.71 42.000 3. 6 5.91 1.48 21.00 20.0% 3. 9 9.92 6. 3 4.0% 3.91 1.01 3.0% 5.45 Aprt.200 3.71 45.91 4.0% 5.1% 2.8% 3.65 23.0% 3. 4 5.00 10.46 335. 12 5. 8 5.1% 2.201 910 870 242 242 46457983.14 26.0% 3.000 Legal fees 200 Stamp Duty 1.1% 2. 10 9.8% 3. 7 4.0% 3.0% Other fees 0.41 12.01 3.22 33.6 Subsidiary Operating costs (year 1) Block Courtyard Car Park Knight Service Service Service Admin Frank Total Charges Charges Charges Costs Fees Costs £.000 Purchase of property 27.36 11.000 £.0% 9 Minimum Financing Requirement £.92 6. 1 5.91 1.000 Aprt.0% 3.31 2. Revaluation fees 50 Ensure that the bank balances Other Costs 1 25 stay positive in the check screen.000 HBOS 18.51 Aprt.13% 570 570 1% 1% 182 182 Investec 6.000 £.96 Aprt.000 Rate Interest fund In % Out % In £.8% 3.8% 3.91 1.8% 3.xlsile .96 Aprt.36 11.61 Aprt.8% 3.44 71.8% 3.1% 2.53 0. 11 9.61 21.00% 180 300 1% 1% 60 60 Investors 8.51 Aprt.91 1.99 0.80 Aprt.41 12.0% 5. 2 1.82 3.0% 6.0% Courtyard Service Charges 0.91 1.0% Taken from Knight Frank Forecast.15 6.36 11.45 0.0% 3.0% 3.0% 3.0% 3.70 4.8% 3.0% Car Park Service Charges 0.39 0.1% 2.000 £.1% 2. Other Costs 2 25 Other Costs 3 25 375 8 Inflation profile Subsidiary companies Year 1 Year 2 Year 3 Year 4 Year 5 Rental income 0.0% 3.39 0. - Share capital 1 n/a 32.96 Aprt.0% 3.53 0.00 181.58 23.91 1.000 £.82 3.1% 2.000 Both the descriptions and values Project Advisory charge 250 of parent and subsidiary Other fees - companies can be altered.0% Knight Frank Fees 0.71 45.01 0. Prime Central London Block Service Charges 0.00% 160 0% 0% . 0.0% 3.000 Out £.0% Other Costs 1 0.0% Other Costs 3 0.41 12.91 2.0% 3.01 3.08 23.0% 3.48 21.65 23.1% 2.0% 3.05 7 Parent company costs (year 1) Year 1 £.8% 3.000 2.53 0.0% 3.04 0.232 10 Financing Advance Interest Annual Sinking Arrangement fees Arrangement fees Investor £.0% 3.48 21.0% Revaluation fees 0.91 4. 5 4.8% 3.73 Aprt.08 23.51 Aprt.0% 3.0% Other Costs 2 0.0% 3.65 23.08 0.76 .1% 2.99 0.58 4.90 1.00 50.74 4.8% 3.0% 3.280 Working capital Parent company 375 Subsidiaries 335 710 Arrangement fees (In) 242 Initial Financing Required 29.39 0.000 £.0% 3.0% Parent Company Year 1 Year 2 Year 3 Year 4 Year 5 Project Advisory charge 0.62 14.

000) 340 340 340 340 28.266 changes result in an "ERROR" Subsidiaries bank in credit Agrees Agrees Agrees Agrees Agrees display. 40% - Year 4 .000 14. Diff.000 Year 1 . between Sun & Apt P&L .397 - Term 5 IRR 16. .000 £. (96) Amortised amount c/fwd 387 290 193 96 - 12 Returns to investors (including Investec) Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Total Investors Investment (14.266 - 46457983.266 Closing Bank Balances Parent 4.00 (1.000) Investec Interest 180 180 180 180 180 900 $$ Investors Interest 160 160 160 160 160 800 Initial investment . (1.697 Cash flow (14.820) Purchase of fixtures (300) Operating profit (loss) Parent (6.697 13.00% 13 Check data Year 1 Year 2 Year 3 Year 4 Year 5 Parent company balance sheet Agrees Agrees Agrees Agrees Agrees All of these check sums must Subsidiary balance sheet Agrees Agrees Agrees Agrees Agrees show "Agrees" for the model to Intercompany balances Agrees Agrees Agrees Agrees Agrees be working properly.697 If sale proceeds exceed £50k then 70% else 65% 11 Arrangement fees Year 1 Year 2 Year 3 Year 4 Year 5 £. Capital Return to Capital Profit on investors Increase Disposal % £.539) Subsidiary 4.00 14 Cash Reconciliation £. .000 £.xlsile . 14.444 961 405 3 4.266 Subsidiary - Sinking fund - 4. 45% - Year 5 21. .697) Share capital 1 4. .00) 2.000) Payment of entry fees (242) Payment of exit fees (242) Repayment of investors capital (8. If any Bank balance (must be positive) 1.51% Simple Interest 22.000 Amortised amount b/fwd 387 290 193 96 Arrangement fees 242 Termination fees 242 Amortisation (97) (97) (97) (97) - On Disposal . 13. . . .000) (14.000) Dividends to investors (13.00) 1. 30% - Year 2 . .037 15.211 Proceeds of sale 49. please reverse them Cash reconciliation Agrees Agrees Agrees Agrees Agrees immediately.893 Repayment of banks HBOS (18.000 Dividends .073 65% 13.000 Finance raised 32.201 Purchase of property (28. . 35% - Year 3 .000 £.200) Investec (6.000 £.

360 27.382) (1.000) (8.776) (4. . .831 1. .265 Capital and reserves Share capital 1 1 1 1 1 Retained profits (1.179) (5. .442) (24. .200) (18.180) (5.264 (1.416) 23. . (13.403) (1.795 25.314 1. .275 873 4.595) 4.180) (5.179) (5.006) Profit before tax (1.382) (2.265 . .000 £.200) (18.381) (2.000) - (1.xls .557 Retained profits brought forward .000) (6.595) 4.000 £.000) - Exit fees (242) (242) (242) (242) - (24.988 25.180) (5.007) (1.000) (8.266 Bank loans HBOS (18.747 27.266 Sinking fund 870 870 870 870 - 2.000 £.000 £. . .596) 4.200) (18.382) (2.403) (1. (1.000 £.878 (1) Deferred Arangement & Exit Fees 387 290 193 96 - 28. - Projected Parent Company Accounts Years 1 to 5 Projected Profit & Loss Accounts Was property sold in year ? No No No No Yes Was property sold in prior years ? No No No No No Year 1 Year 2 Year 3 Year 4 Year 5 £.545 26. .984 Operating expenses Project Advisory charge (250) (258) (265) (273) (281) Other fees .776) (4.000) (6.264 Projected Balance Sheets Year 1 Year 2 Year 3 Year 4 Year 5 £.382) (1.000 £.000 Dividends received .777) (4. - 46457983.200) - Investec (6.000) (6.444 961 405 3 4.381) (2.416) 23.974 (1) Cash at bank and in hand Bank Account 1.596) 4.777) (4.557 Taxation .835 26.000) (8.563 Finance charges HBOS (570) (570) (570) (570) (570) Investec (180) (180) (180) (180) (180) Investors (160) (160) (160) (160) (160) Amortisation of arangement & exit fees (97) (97) (97) (97) (96) (1.000 Current assets Inter-company 28.442) (24.596) Dividends to investors . 24.395) (1. .442) - Other loans Investors (8. .000 £. . - Revaluation fees (50) (52) (53) (55) (56) Other Costs 1 (25) (26) (26) (27) (28) Other Costs 2 (25) (26) (26) (27) (28) Other Costs 3 (25) (26) (26) (27) (28) (375) (388) (396) (409) (421) Operating profit (375) (388) (396) (409) 24.007) (1.007) (1.000 £.697) Retained profit (loss) carried forward (1. - Profit after tax (1.007) (1.777) (4.382) (2.442) (24. .395) (1.

967 Retained profits brought forward .017 - Projected Balance Sheets Fixed assets Investment property 36.865 38.557 43.382 2. .984) Retained profits carried forward 603 1.364 18.065 22.000 £.878) 1 8. .071 2 Fixtures & Fittings 144 108 152 76 - 36.721 38.120 16.176 3.131 Profit on disposal .541 21.505 11.204 UK Tax on rental profits (160) (207) (211) (224) (237) Profit after tax 603 779 794 841 21. (24.251 2 Retained profits 603 1.134 1.795) (25.017 - 8.xls .665 43.147 2 Cash at bank and in hand Current account .017 Dividends .367 1. - Projected Subsidiary Accounts Years 1 to 5 Projected Profit & Loss Accounts Year 1 Year 2 Year 3 Year 4 Year 5 £.005 1.336 47.545) (26. . . .508 1.184 47.436 1.000 £. . .382 2. .505 11. . .269 3 .000 £.269 3 Capital and reserves Share capital 1 1 1 1 1 Revaluation reserve 7. - Current liabilities Inter-company (28.120 16.737 14.360) (27. .382 2.005 1.000 £. - 46457983.176 3.541 21.583 Operating expenses Block Service Charges (71) (73) (75) (78) (80) Courtyard Service Charges (50) (52) (53) (55) (56) Car Park Service Charges (10) (10) (11) (11) (11) Admin Costs (23) (23) (24) (25) (25) Knight Frank Fees (181) (187) (192) (198) (204) Depreciation (36) (36) (76) (76) (76) (371) (381) (431) (443) (452) Operating profit 763 986 1.000 Rental income 1. 603 1. .073 Profit before tax 763 986 1.176 3. 21.065 1.901 9.

21) (12.21) (7.76) (3.21) (12.94) (17.70) (12.41) (1.85) (11. .70) (1.28) Knight Frank Fees (14.37 175. .41) (4.94) (0.50) (3.64) (73.18) (17.36) (22. .000 £.39) (1.60) (3.000 £.01) (50.05) Profit after tax (52.10) (8.76) (3.54) (5.99) Investec (14.13 21.000 Rental income Gross rents 117.13) (9.53) (95.05) (37.80) (97.73 95.000 £.50) (3.50) (3.48) (180.70 178.75) (1.90) (36.000 £.65) (4. .11) (4.45) (15.03) (17.000 £.29) (22.76) (3.29) (10.21) (12.20) (38.29) (10.75) (1.29) (10.007.13) (9.63) (16.50) (3.81) (1.32) (2.90) (14.99) Other Costs 2 (2.74) (1.84) (6.70 159. .66) (40.99) Other Costs 3 (2.00 (408.81) (3.48) (46.94) (2.62) (0.08 104.000 £.40 16.48) (180.21) (12.53) (3.07) (25.13) (12.59) (77. .44) (2.03) (5.70 1.22) (2.000 Rental income Gross rents 110.48) (12.88) (73.38) (1.75) (1.75) (1.20) (79.92) (1.39) (12.89) (619.75) (1.60) (3.76 79.58) (6.49) (49.000 £.63) (12.40) (1.73) (615.52 95.30) (71. .85) (11.502.58) (6.70) (1.49) (3.04) (9.00) (49.36 95.15) (23.25) Net rental income 106.000 £.08) (4.70) (1.04) Profit before tax (52.50) (3.91) (0.94) (0.66) (23.02) (0.48) (6. .15 89.33) Admin Costs (1.48) (18.45) (11.76) (1.33) (55.93) (34.84) (6.59) (94.000 £.03) (68.80 185.40) (1.70) (25.08 104.97) (5.64) (73.01) (24.73) (10.00 Operating expenses Block Service Charges (5.91) (0.82) (5.66) (40.61) (68.03) (4.33) (55.84) (13.08) (0. - Revaluation fees (4.30 86. .73) (257.54) (2.74) Other Costs 3 (2.75 1.61) (56.54) (1. (0.21) (2.20 148.30) (71.63) (16.53) (3.04) (11.04 71.48) (45. .54) (5.76) (1.25 185.64) (3.44 86.54) (56.48) (46.39) (3.03) (106.84) (13.01) (9.57) Car Park Service Charges (0.70 178. .04) (0.16) (20.00) Net rental income 88.67) (15.20) (79.20 132.91) (0.85) (11.75) (12.39) (26.20 148.00) Project Advisory charge (20.22) (2.43) (5.50) (3.02) (116.76) (1.85) (3.45) (4.58) (1.66) (40.14) (51.31) (51.91) (0.41) (14.000 £.33) (55.73 196.85) (1.53) (6.55) (13.05) (37.64) (7.03) (68.76) (17.04) (24.94) (0.00) (30.03) (51.65) (23.000 £.00) (50.03) (5.70) (1.84) (13.60) (3.44) (2.01) (24.00) 10.65) (4.02) (98.22) Courtyard Service Charges (4.97) (5.21) (160.94) (19.11) Depreciation (2.15) (25.90) (44. .05) (33.76) (37.00) (81.10) (779.99) (1.00) Project Advisory charge (20.99) Investec (14.55) (13.13) (20.29) (22.000 £.99) (6.23) (20.32) (2.80 89.03) Investors (12. .00) Courtyard Service Charges (4.17) (4.39) (45.66) (11.67) (17.99) (1.53) (6.70) (12.000 £.28) (9.91) (0.84) (52.03) (103.94) (0.61) (22. .95) (17.05) 46457983.85) (1.70 98. .70) (71.70) (12.50 20.58) (6.81) (1.45) (4.02) Amortisation of arangement & exit fees (7.45) (21.38) (68.20) (38.87) (160.14) (2.55) (2.17) (4.80) (97.29) (15.94) (0.21) (6.38) (44.66) (40.45) (24.40) (2.80 89.00) (81.83) (80.84) (52.71) (21.75) (12.94) (0.21) (12.75) Other fees .36) (20.97) (5.59) (27.90) (14.000 £.48) (12.03) (140.38) (44.04) Profit before tax (36.08) (0.15) (25.94) (19.58) (6.76) (1.43) (17.64) (3.94) .59) (26.05) UK Tax on rental profits (12.75) (1.31) (1.84) (569.91) (0.70 98.54) (2.91) (0.48) (12.78) (66.81) (1.95) (17.134.44) (2.32) (54.73 95.76) (3.44) (2.30) (71.70) (129.63) (34.95) (11. .367.54) (2.17) (0.93) (32.70) (140.- Projected Return on Apartments Years 1 to 5 Year 1 Apart 1 Apart 2 Apart 3 Apart 4 Apart 5 Apart 6 Apart 7 Apart 8 Apart 9 Apart 10 Apart 11 Apart 12 TOTAL £.07) (25.02) Amortisation of arangement & exit fees (7.38) (1.67) (0.08) (2.09) (106.32) Year 2 Apart 1 Apart 2 Apart 3 Apart 4 Apart 5 Apart 6 Apart 7 Apart 8 Apart 9 Apart 10 Apart 11 Apart 12 TOTAL £.70) (1.56) (9.00) Car Park Service Charges (0.43) (8.21) (7.71) (38.87) (160.90) (36.02) (50.000 £.49) (21.01) (24.92) (9.63) (12.99) (59.00) (33.51) (7.000 £.44) (2.66) (40.41) (1.99) (6.91) (0.76 79.99) (6.45) (1.45) (1.71) (23.91) (0.00) Admin Costs (1.39) (3.15) (23.76) (1.70) (12.81) (1.65) (11.07) (25.00) UK Tax on rental profits (16.81) (135. .49) (3.60 1.13) (51.76) (1.85) (11.94) (12.48) (45.22) (181.36) (1.90) (44.91) .88) (187.52 95.58) (11.000 £.48 Operating expenses Block Service Charges (5.09) (98.18) (17.22) (2.21) (12.39) (12.56) (9.20) (38.01) Finance charges HBOS (46.40) (1.03) (68.10) (4.64) (3.27) Profit after tax (65.39) (3. .30) (71.66) (40.82) (16.93) (10.48) (95.43) (8.75) (1.44) (10.84) (6.94) (0.67) (17.32) (1.68) (11.73) (207.45) (15.74) (61.36) (20.000 £.007.98) Other fees .38) (68.20) (38.30) (71.64) (7.83) (80.01) Other Costs 1 (2.00) (33.29) (10.02) (0.000 £.39) (1.36) (1.21) (14.48) (6.94) (45.53) (77.92) (8.08 104.49) (3.37 196.xlsile .94) (0.70) (129.53) (3.46) Depreciation (2.65) (11.71) (38.38) (1.000 £.00) (30.85) (11.60) (3.90) (44.03) (4.00 Void provision 20% (22.29) (25.56) (2.04) (2.50) (746.84) (13.99) (6.30 86.84) (13.48) (18.57) (35.418.85) (11.58) (2.39) (3.55) (2.70) (1.36) (1.49) (3.73 Void provision 9% (10.21) (6.48) (18.01) (4.26) (46.90) (10.61) (116.03) Investors (12.03) (51.52 95. .17) (0.25 165.59 19.75) (1.00) (33.01) (4.81) (3.82) (5.94) (2.38) (44.10) (8.58) Other Costs 1 (2.32) (2.03) (140.59) Knight Frank Fees (14.56) (9.70 98.21) (14.64) (2.92) (9.36) (22.84) (6.91) (0.00) (7. .03) (95.66) (1.78) (3.04) (0.45) (24.53) (3.000 £. - Revaluation fees (4.000 £.49) (49.61) (56.49) (3.82) (5.04) (11.54) (2.94) (0.46) (768.49) (3.76) (17.64) (79.22) (3.04 148.95) (11. .78) (3.23) (9.95) (11.39) (3.15) (5.55) (12.49) (103.70) (1.06) Finance charges HBOS (46.11) (249.70) (25.39) (45.30) (71.12 71.00) (68.37 196.81) (3.64) (79.49) (20.25 185. .39) (94.01) (36.39) (3.70) (140.90) (14.17) (10.81) (1.00) (68.21) (4.76) (3.08) (4.32) (54. (0.04 71.15) (284.30 178.45) (4.64) (3.84) (52.58) (6.51) (7.44) (2.64) (2.81) (1.44) (10.000 £.56) (2.60) (3.95) (17.55) (12.74) Other Costs 2 (2.23) (20.08) (0.60) (3.02) (0.03) (68.23) (10.00) (30.18) (36.84) (569.39) (1.58) (6.70) (1.71) (23.70) (1.32) (54.91) (0.000 £.94) (19.01) (33.89 1.75) (1.76 79.

63) (7.84) (6.91) (41.13) (26.63) (12.55 104.00) UK Tax on rental profits (17.49) (17.11) (14.007.63) Knight Frank Fees (15.96) (10.99) Investec (14.29) (114. .19) (27.60) (142.66) (27.85) (1.38) (54.70) (3.11) (5.45) (15.97) (18.00) Project Advisory charge (22.26) (53.43) (4.85) (1.70) (12.74) (3.19) (27.83 109.00) (26.000 £.00) (29.34) (1.000 £.41) (58.30) (71.51) (19. .20) (38.00) (7.50) (28.97) (0.51) (2.15) (23.85) (11.00) (68.18) (21.70) (3.26) Courtyard Service Charges (4.70) (12.80) (3.21) (14.00) (1.11) (14.30) (71.41) (6.08 95.60) (3.31) (264.39 105.35) (12.00) (33.81) (12.20) (38.84) (9.85) (1.000 £. .80) (3.38) (68.20) (79.86) (1.20) (0.86) (1.29) (10.41) (7.07) (4.32) (9.21) (12.01) Profit after tax (52.13) (26.60) (3.81) (12.98) (9.12) (9.48) (45.60) (3.97 206.03) (140.74) (7.69) (17.43) (10.48) (45.03) (68.02) Amortisation of arangement & exit fees (7.02) (27.85 100.70) (12.66) (40.70) (3.14) (12.80) (6.000 £.71) (23.99) Admin Costs (1.41) (2.88) (117.84) (569.66) (40.51) (2.76) (24.75) (12.82) (13.33) (2.97) (0.00) .02) (76.41 90.97) (0.27) (1.70) (129.04) Profit before tax (32.54) (13.22) (77.58) (6.46) (66.99) (10.84) (10.62) (9.69) (6.80) (1.81) (3.98) (9.00) (1.85) (11.70) (12.50 216.20) (0.43 99.34) Depreciation (6.99 22.85) (11.81) (12.66) (40.000 £.03) (140.85) (1.40) (1.02) (34.31) (10.48) (1.44) (10.71) (3.74) (7.92) (3.53) (611.91) (59. (1.00 (400.47 104.56) (18.49 1.99) (1.000 £.13) (38.50 216.03) Other Costs 1 (2. .10) Net rental income 117.02) Car Park Service Charges (0.88) (56.85) (7.91) (15.00) (29.80) (1. .53) (828.39) (19.97) .32) (9. .98) (9.07) (2.25) (18.00) (1.86) (1.52 21.88 Void provision 9% (11.10) (8.97 99.21) (12.87 Operating expenses Block Service Charges (6.25) (38. .43) (10.55) (28.48) (6.15) (1.41) (1.12) (76.97) (0.88) (56.000 £.40) (1.46) (2.00) (30.36) (5.55) (13.80) (1.19 184.75) (12.86) (1.66) (40.86) (1.53) (211.66) (13.71) (3.03) (68.507.42) (0.86) (3.90) (8.16) (198.43) (10.81) (3.97) (0.01 176.82 115.00) (1.14 23.51) (2.07 187.58) (6.43) (149.97) (0.24) Other Costs 2 (2.435.36) (22.00) (1.656.71) (38.00) (1.577.44) (1.00) (6.15) (5.81) (3.80) (97.21) (55.29) (22.99) (13.08 197.63 167.86) (3.63) (7.14) (0.85) (1.70) (3.18) (43.09) Finance charges HBOS (46.17) (13.01) Year 4 Apart 1 Apart 2 Apart 3 Apart 4 Apart 5 Apart 6 Apart 7 Apart 8 Apart 9 Apart 10 Apart 11 Apart 12 TOTAL £.62) (9.15) (5.07) (573.11) (5.41) (6.64) (79.000 £.91) Other fees .15) (5.97 99.56) (2.56) (18. (0.49) (19.39 105.29) (22.58) (6. .60) (3.97) Other fees .60) (3.11) (5.41) (1.Year 3 Apart 1 Apart 2 Apart 3 Apart 4 Apart 5 Apart 6 Apart 7 Apart 8 Apart 9 Apart 10 Apart 11 Apart 12 TOTAL £. - Revaluation fees (4.39) (73.82) (3.84) (13.86) (1.83 109.85) (11.05) (4.16) (21.91) (41.80) (1.18) (13.48) (180.89 1.20) (79.85) (3.92) (1.91) (15.52) (56.51) (7.36) (20.44) (1.000 £.41) (25.81) Profit after tax (49.11) (43.62) (10.84) (6.66) (13.63) (7.00) (26.81) (3.36) (20.70) (140.71) (38.000 £.13) (26.39) (9.41) (1.63) (12. .85) (1.84) (6.39) (54.58) (6.07 90.30) (71.47 216.49) (19. .15) (1.01) Net rental income 111.44) (1.33) (4.40) (1.84) (4.29) (0.00) Project Advisory charge (21.17) (18.54) (13.00) (33.99) (46.77) (0.85) (11.19 206.41) (12.03) (68.82) (26.47) (5.50 193.07 90.13) (22.00) (1.43 95.85) (11.30) (71.90) (18. .33) (1.21) (12.51) (19.41) (58.68) (89.03) (68.81) (1.02) (27.54) (851.82 115.55) (43.68) (29.56) (16.00) 13.99) (2.73) (12.13) (25.66) (40.87) (160.71) (3.99) Investec (14.00) (68.67 Operating expenses Block Service Charges (6.74) (3.97) (18.04) (75.98) (6.20) (38.41) (12.64) (73.48) (6.11) (43.80) (1.24) (68.17) (13.47) (10. .88) (23.85 100.36) (10.91) (15.000 £.01 197.41) (7.000 Rental income Gross rents 129.15) (5.63 187.48) (1.85) (1.66) Admin Costs (1. .12) (76.69) (17.49) (1.53) (1.94) (2.00) (61.01 197.91) (59.55) (43.00) (30.14) (0.49) (1.00) (26.55) (12.29) (0.92) (1.85) (1. .00) (61.49) (4.85) (3. .80) (1. .71) (3.51) (19.92) (1.00) 20.99) (1.85 100.00) (81. - Revaluation fees (4.46) (4.39) (9.32) (2.84) (569.19 206.41) (58.44) (2.85) (3. .66) (46.28 1. .55) (13.13) (25.52) (10.70) (140.74) (3.64) (79.92) (1.97) (0.83) (80.60) Finance charges HBOS (46.51) Courtyard Service Charges (4.000 £.70) (3.56) (2.86) (3.88) (25.77 Void provision 9% (11.25) (18.000 £.00) (1.28) (75.47) (5.17) (13.85) (1.45) (15.52) (9.17) (5.15) (23.58) (6.85) (3.92) (1.85) (1.80) (6.97) (18.000 £.20) (38.15) (5.31) (5.62) Other Costs 1 (2.87) (160.00 (350.20) (0.92) (3.70) (129.10) Depreciation (6.000 £.62) (109.48) (180.64) (73.29) (10. .09) (1.19) (27.62) (117.81) (3.97) (0.49) (192.84) (13.02) (8.41) (2.29) (55.71) (3.36) (5.26) (5.36) (22.02) Amortisation of arangement & exit fees (7.42) (0.55) (13.46) Other Costs 2 (2.94) Knight Frank Fees (14.55) (89.71 1.95) (272.83) (80.70) (25.24) Other Costs 3 (2.66) (95.14) (5.70) (25.53) (1.29) (55.000 £.21) (14.00) (29.63) (7.90) (8.000 £.29) (10.38) (68.21) (12.84) (6.92) (3.66) (46.94) (2.61) Car Park Service Charges (1.73) (1.41) (2.91) (59.84) (4.55) (12.00) (81.03) Investors (12.30) (71.72) (0.007.80) (97.60) (3.00) UK Tax on rental profits (16.83 109.62) (2.00) (33.92) (1.26) (5.29) (10.15) (5.000 £.13) (35.36) (10.62) (10.80) (1.54) (13.82 115.51) (114.74) (3.32) (3.26) (5.15) (25.51) (7. .47 104.30) (71.31) (5.05) (17.14) (0.00) (0.46) Other Costs 3 (2.11) (43.21) (12.68) (28.92 20.000 Rental income Gross rents 122.71) (3.97) (0.15) (25.000 £.10) (8.xlsile .68) (71.44) (10.82) (3.85) (7. .02) (95.000 £.16) (5.16) (5.00) (30.39 105.80) (1.000 £.07) (223.58) (6.03) Investors (12.48) (1.000 £.55) (13.81) 46457983.66) (40.02) (37.50) (8.80) (1.08 95.05) (4.51) (106.000 £.04) Profit before tax (36.11) (14.70) (3.81) (3.88) (25.36) (5.36) (5.69) (37.21) (12.000 £.91) (41.85) (1.63 187.25) (53.00) (42.53) (4. .81) (25.00) (49.

08) (70.64) (73.49) (30.75) (12.91) (1. .62 Void provision 9% (12.96) (68.70) (80.97) (7.00 (297.15) (5.21) (12.34) Profit after tax (46.55) (0.51) (6.41) (79.91) (1. .92) (14.34) TOTAL Apart 1 Apart 2 Apart 3 Apart 4 Apart 5 Apart 6 Apart 7 Apart 8 Apart 9 Apart 10 Apart 11 Apart 12 TOTAL Accounting profits after tax for years 1 to 5 (265) (51) (234) (224) (234) (224) (234) (224) (481) (481) (390) (75) (3.61) (281.27) (39.36) (5.70) (25.000 £.26) (28.20) (79.46) (20. .29) (22.58) (1.739. .03) (1.62) (2.28) (77.56) (129.77) (6.36) (10.82) (3.23) (70.82) (3.33 203.97) (3.12) Other fees .92) (3.82) (0.53) (58.82) (3.000 £. .35) (1.26) (4.44) (10.91) (10.43) Finance charges HBOS (46.28) (29.20) (38.27) (0.80) (6.44) (85.69) (237.26) Other Costs 1 (2.000 £.37) (3.77) (6.04 Operating expenses Block Service Charges (6.92) (14.03) (1.15) (23.03) (1.98) (1.583.37) (9.000 £.02) Amortisation of arangement & exit fees (7.00) (27.23) (70.04) Depreciation (6.27) (36.66) (40.58) (4.92) (14.86) (7.26) (4.42) (5.46) (1.91) (1.36) (5.15) (5.15 110.41) (12.91) (1.21) (14.53) (58.47) (6.98) (3.00) (22.27) (0.28) (2.24 227.000 £.00) (27.91) (10.72) (95.16) (5.00) (12.87) (160.98) (3.00) (27.24 110.86) (7.85) (11.29) (10.00) (22.76) (16.83) (19.Year 5 Apart 1 Apart 2 Apart 3 Apart 4 Apart 5 Apart 6 Apart 7 Apart 8 Apart 9 Apart 10 Apart 11 Apart 12 TOTAL £.48) (180.38) (7.26) (28.84) (3.98) (1.07) (19.08) Other Costs 2 (2.91) (1. (1.85) Courtyard Service Charges (4.15) (1.56) (2.99) (81.63) (12.52) (1.33 227. .77) (13.91) (20.92) (3.03) (1.76) (38.85) (58.97) (3.83) (39.33 206.00) 27.50 100.000 £.58) (1.03) (1.49) (14.91) (1.96) (68.00) (6.91) (9.37) (68.20) (38.03) .91) (9.59) (2.66) (26.66) (40.32) Admin Costs (1.20) (2.51) (6.09 1.62) (2.33 100.70) (12.06 121.66) (40.33 100.03) (1.96) (140.63) (874.49) (14.27) (0.76) (16.92) (3.89) (12.69) (534.91) (1.44) (66.23) (70.76) (16.15) (25.23) (9.63) (11.98) (1.97) (3.48) (61.00) (22.63) (5.92) (3.29) (10.97) (7.52) (56.76) (1.52) (1.70) (12.64) (79.98) (3.37) (41.42) (1.25) Car Park Service Charges (1.83) (19.22) (26.85) (11.000 £.48) (61.17) (11.03) Investors (12.66) (23.89) (1.41) (13.82) (112.62) (10.15) (5.87 206.02) (11.73) (4.82) (3.62) (2.90) (2.35) Knight Frank Fees (15.00) UK Tax on rental profits (18.06 121. .49) (41.21) (12.71) (38.15 110.51) (6.42) (1.98) (1.42) (5.07) (19.97) (3.00) Project Advisory charge (22.86) (7.82) (120.21) (5.03) (1.07) (19.03) Profit before tax (28.06 121.00) (55.000 £.58) Net rental income 123.xlsile .40 1.98) (1.30) (19.22) (12.00) (35.03) (1.36) (20.42) (5.52) (1.46) (18.49) (41.92) (3.84) (3.73 110.48) (61.84) (569.51) (56.82) (3.21) (12.91) (1.33 227.000 £.000 £.85) (11.006. .91) (1.87 206.00) (55.28) (6. - Revaluation fees (4.60 24.98) (1.31) (156.48) (45.03) (1.24) (22.42) (1.99) Investec (14.08) Other Costs 3 (2.000 £. .15 110.22) (12.56) (140.91) (1.92) (3.36) (15.36) (22.76) (38.62) (9.24 110.46) (20.40 22.44) (31.81) (25.66) (26.85) (204.76) (38.17) (10.63) (5.53) (120.55) (0.94) (2.82) (3.86) (7.49) (85.000 Rental income Gross rents 135.116) Profit on disposal 46457983.59) (4.10) (8.12) (76.44) (30.000 £. .26) (28.87 185.91) (10.37) (14. .

0 Block Service Charges £ Insurance Building's Insurance (incs Terrorism Cover) 16. 4 Apartment comfort cooling is directly metered.950 Maintenance General repairs 7. 2 Apartment electricity is directly metered. .175 Maintenance of windows & curtain cladding 1.175 Managing agents 7.300 Fire alarm/Dry riser/Fire curtain/AOV 2.materials 5. lift 5.765 (2 visits p.470 Sinking fund General sinking fund 6.175 Fees Professional fees 1. 3 Apartment gas is directly metered.000 70.) Pest control 940 Common parts cleaning .000 Common Services Electricity for communal lighting.050 Audit 1.875 & chiller plant Water rates 1. 5 Apartment water consumption is sub-metered but billed separately. except the Building's Insurance and Sinking Funds.625 Assumptions 1 All the costs are inclusive of VAT. CCTV.a.950 BT lift phone line 180 Sinking fund 1.050 Building plant maintenance & water treatment 5.000 Entry phone 880 Drainage 1.000 TV aerial/satellite dishes 590 Lift Lift Maintenance 2.350 Fall arrest 750 Levy/maintenance of surface water outfall to River Thames 1.

1.175 Audit 880 9.175 Sinking fund General sinking fund for replacement of 1.otherwise 'out of hours 'monitoring' Sunday 'out of hours 'monitoring' Car Park Service Charges £ Common services Contribution for electricity to car park gates. external lighting. 1. lights & CCTV Maintenance Cleaning of car park 1. .720 Assumption All the cost items are inclusive of VAT.760 CCTV 590 Traffic light system 880 Car park gates 1.760 traffic light systems. CCTV.765 Audit 850 49.175 Telephone 470 BMS/Admin support 880 Maintenance Courtyard maintenance contribution 880 CCTV 590 Main vehicular/pedestrian gates 880 Courtyard planters 705 Fees Managing agents 1. except the Building's Insurance and Sinking Funds.000 Out of hours CCTV monitoring 1. 0 Courtyard Service Charges £ Common Services Contribution for electricity to main vehicular & pedestrian gates.605 Porterage Service Monday to Friday 0730 until 2400 hours Saturday 0800 until 1600 hours .765 irrigation to courtyard planters Contribution to water charges for courtyard 470 planters Porter Salary and National Insurance 38.500 gates & traffic light system & car park surfaces Fees Managing agents 1.175 Office rent 1.