EXL-PLAN Super: Excellence in Planning

Unregistered version 06/24/2020 08:20:44 481330933.
xls
Registered User: Trial copy - For more info Code Number: 1050 8756 1570 exlsuk26
(Press F9 to update number)
Company: see Upgrade worksheet License Limit: Use restricted to one PC
Excellence in Planning
EXL-PLAN Super
Fully-integrated 1-3-5 Year Financial Planner for Substantial Businesses
UK/International Edition - US/Canadian Edition is also available
Exl-Plan is covered by copyright. The shareware version can be freely copied but see
license for details of restrictions.
Exl-Plan has been supplied on an 'as is' basis and Invest-Tech accepts no responsibility
whatsoever for any defects, errors or losses arising from its usage.
www.planware.org
© Copyright Invest-Tech Limited 2000-5
For help with preparing a business plan, refer to items in the Start, Programs, Exl-Plan menu.
This is a trial copy of Exl-Plan. To purchase, see Upgrade worksheet.
If this message is very prominent, you should change the Default Zoom Value via the *Tools/Setup menu (try value = 75).
Change this description via Enter Model Title option in *Setup menu Page 1
Unregistered version Start
Quik-Start Quik-Plan
For comprehensive projections For first-cut, high-level projections
Done Done
Step 1 Step 1
Step 2 Step 2
Step 3 Step 3
Step 4 Step 4
Step 5 Option: Modify Quik-Plan's assumptions and re-run
- Work from left to right through assumption worksheets Step 5

- Start by entering high-level assumptions
- Ignore rows that are not relevant to your business DO NOT re-run Quik-Plan if you expand assumptions
- If desired, hide unused rows - do not delete them !
- Ignore most calc errors while still entering assumptions - Work from left to right through assumption worksheets
- Progressively add more detailed assumptions - Fine tune the assumptions entered by Quik-Plan
- You can insert supplementary assumption schedules - Progressively add more detailed assumptions
- Regularly save your work with a new file name - Ignore rows that are not relevant to your business
- If desired, hide unused rows - do not delete them !
Step 6 - You can insert supplementary assumption schedules
- Add more detail to the opening balance sheet
Make sure that both sides balance ! - Regularly save your work with a new file name
Step 7 Step 6
Step 8 Especially, see the Textual Summary Report
Step 9 Step 7
Step 10 - Do sensitivity analyses & view "what-if" tables

- Explore the profitability planner
Step 11 - Make short-term cash flow projections
- Analyse long-term performance trends
- Do sensitivity analyses & view "what-if" tables - Track ongoing trading performance
- Explore the profitability planner
- Make short-term cash flow projections
- Analyse long-term performance trends
- Track ongoing trading performance
Unregistered version 06/24/2020 08:20:44 481330933.xls
SUMMARY & DIAGNOSIS REPORT - 3 YEARS

Years ending Sep 05-06 06-07 07-08 08-09 Remarks
Act/Est Proj Proj Proj
£000 £000 £000 £000
Sales 2,313 4,680 6,742 8,044 3-yr change is 248%
Gross profit 963 1,866 2,700 3,325 3-yr change is 245%
Overheads 990 2,106 1,962 2,188 3-yr change is 121%
Trading profit (27) (240) 738 1,137 Change N/A
Pre-tax profits (25) #VALUE! #VALUE! #VALUE! #VALUE!
Net cashflow N/A #VALUE! #VALUE! #VALUE! #VALUE!
Closing net cash position (110) #VALUE! #VALUE! #VALUE! #VALUE!
Net assets & cap. employe 615 #VALUE! #VALUE! #VALUE! #VALUE!
These ratios are based on a combination of monthly/quarterly/annual values
Peak debt as % net assets #VALUE! #VALUE! #VALUE! #VALUE!
Lowest current asset ratio (times) #VALUE! #VALUE! #VALUE! #VALUE!
Peak sales/capital employed (times) #VALUE! #VALUE! #VALUE! #VALUE!
Trading profit as % capital employed #VALUE! #VALUE! #VALUE! #VALUE!
Gross profit margin (as % sales) 40 40 41 Full year averages
Net profit before tax (as % sales) #VALUE! #VALUE! #VALUE! Full year averages
Upgrade Options
Options for upgrading your trial copy of Exl-Plan include the following:
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and Ultra Plus).
Some key Exl-Plan links:
Detailed descriptions: www.planware.org/exldesc.htm
Download trial version www.planware.org/exldown.htm
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Code Number: 1050 8756 1570 exlsuk26

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12 Months 2006 2006 2006 2007 2007 2007 2007 2007 2007 2007 2007 2007 06-07
to end Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Year
MONTHLY ASSUMPTIONS No. 1 - SALES & FINISHED STOCK TARGETS
Set cells below to zero if not entering seasonal assumptions Total
Seasonal index ->> 31.00 28.00 31.00 30.00 31.00 30.00 31.00 31.00 30.00 31.00 30.00 31.00 365.0
Sales - Product A (000s units or £000): Use either sales volumes or turnover values throughout this group Total
Subgroup 1a <<->> 100.0 110.0 95.0 115.0 85.0 130.0 105.0 125.0 140.0 145.0 135.0 150.0 1,435.0
Subgroup 1b <<->> 0.0
Subgroup 1c <<->> 0.0
Subgroup 1d <<->> 0.0
Subgroup 1e <<->> 0.0
Total sales - Product A 100.0 110.0 95.0 115.0 85.0 130.0 105.0 125.0 140.0 145.0 135.0 150.0 150.0
###
Total = 1,435.0
Sales - Product B (000s units or £000): Use either sales volumes or turnover values throughout this group
Subgroup 2a <<->> 33.5 57.0 70.4 77.1 70.4 83.8 93.8 103.9 110.6 107.2 120.6 113.9 1,041.9
Total sales - Product B 33.5 57.0 70.4 77.1 70.4 83.8 93.8 103.9 110.6 107.2 120.6 113.9 113.9
###
Total = 1,041.9
Sales - Service A (000s units or £000): Use either sales volumes or turnover values throughout this group
Subgroup 3a <<->> 16.5 28.1 34.7 38.0 34.7 41.3 46.2 51.2 54.5 52.8 59.4 56.1 513.2
Total sales - Service A 16.5 28.1 34.7 38.0 34.7 41.3 46.2 51.2 54.5 52.8 59.4 56.1 56.1
###
Total = 513.2
Sales - Service B (000s units or £000): Use either sales volumes or turnover values throughout this group
Subgroup 4a <<->> 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 120.0
Total sales - Service B 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0
###
Total = 120.0
Sales - Exports (000s units or £000): Use either sales volumes or turnover values throughout this group
Subgroup 5a <<->> 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 240.0
Total sales - Exports 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0
###
Total = 240.0
Sales - Spares (000s units or £000): Use either sales volumes or turnover values throughout this group
Subgroup 6a <<->> 85.0 105.0 95.0 100.0 110.0 110.0 115.0 110.0 120.0 125.0 120.0 135.0 1,330.0
Total sales - Spares 85.0 105.0 95.0 100.0 110.0 110.0 115.0 110.0 120.0 125.0 120.0 135.0 135.0
###
Total = 1,330.0
Net selling prices (£/unit): Set cells below to 1.0 unless using sales units Average
- Product A ->> 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
- Product B ->> 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
- Service A ->> 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
- Service B ->> 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
- Exports ->> 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
- Spares ->> 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
Total sales (£000): Note: Sales values will not be reflected in cashflow projections until credit terms have been specified in sheet M_B Total
- Product A 100.0 110.0 95.0 115.0 85.0 130.0 105.0 125.0 140.0 145.0 135.0 150.0 1,435.0
- Product B 33.5 57.0 70.4 77.1 70.4 83.8 93.8 103.9 110.6 107.2 120.6 113.9 1,041.9
- Service A 16.5 28.1 34.7 38.0 34.7 41.3 46.2 51.2 54.5 52.8 59.4 56.1 513.2
- Service B 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 120.0
- Exports 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 240.0
- Spares 85.0 105.0 95.0 100.0 110.0 110.0 115.0 110.0 120.0 125.0 120.0 135.0 1,330.0
Total sales (£000) 265.0 330.0 325.0 360.0 330.0 395.0 390.0 420.0 455.0 460.0 465.0 485.0 485.0
###
Total = 4,680.0
Bad debts as % sales ->> 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5
Change descriptive term for sales or input/output tax: VAT

e.g. enter "Sales Tax", "GST" for Goods & Services Tax, "VAT" for Value Added Tax etc. (Press F9 to update term throughout file)
Average VAT rate for sales (%) Set cells below to zero if VAT (or other similar taxes) are not applicable
- Product A ->> 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0
- Product B ->> 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5
- Service A ->> 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5
- Service B ->> 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5
- Exports ->> 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5
- Spares ->>
Total VAT on sales (£000):

- Product A 21.0 23.1 20.0 24.2 17.9 27.3 22.1 26.3 29.4 30.5 28.4 31.5
- Product B 5.9 10.0 12.3 13.5 12.3 14.7 16.4 18.2 19.3 18.8 21.1 19.9
- Service A 2.9 4.9 6.1 6.6 6.1 7.2 8.1 9.0 9.5 9.2 10.4 9.8
- Service B 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8
- Exports 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5
- Spares 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total VAT on sales (£000) 35.0 43.2 43.6 49.5 41.5 54.4 51.8 58.6 63.5 63.7 65.1 66.5
Desired finished stocks as % sales for X

months ahead: X = 0 to 4 Set cells below to zero unless manufacturer with finished inventories
- Product A 1 <<->> 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0
- Product B 1 <<->> 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0
- Service A 1 <<->> 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0
- Service B 1 <<->> 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0
- Exports 1 <<->> 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0
- Spares 1 <<->> 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0
Desired finished stocks (000s) units or equivalent sales

value in £000): Opening Set opening values to zero unless manufacturer with finished inventories
- Product A ->> 90.0 99.0 85.5 103.5 76.5 117.0 94.5 112.5 126.0 130.5 121.5 135.0 135.0
- Product B ->> 50.0 51.3 63.3 69.3 63.3 75.4 84.4 93.5 99.5 96.5 108.5 102.5 102.5
- Service A ->> 23.0 25.2 31.2 34.2 31.2 37.1 41.6 46.0 49.0 47.5 53.5 50.5 50.5
- Service B ->> 8.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0
- Exports ->> 20.0 18.0 18.0 18.0 18.0 18.0 18.0 18.0 18.0 18.0 18.0 18.0 18.0
- Spares ->> 90.0 94.5 85.5 90.0 99.0 99.0 103.5 99.0 108.0 112.5 108.0 121.5 121.5
Supplementary Data & Calculations:
12 Months 2006 2006 2006 2007 2007 2007 2007 2007 2007 2007 2007 2007 06-07
MONTHLY ASSUMPTIONS No. 2 - COST OF MATERIALS/GOODS, STOCKS & PURCHASES
Seasonal index ->> 5.00 4.00 4.00 5.00 4.00 4.00 5.00 4.00 4.00 5.00 4.00 4.00 52.0
Finished goods required (000s units

or equivalent sales value in £000): Total
- Product A 109.0 96.5 113.0 88.0 125.5 107.5 123.0 138.5 144.5 136.0 148.5 150.0 1,480.0
- Product B 34.8 69.0 76.4 71.0 82.4 92.8 102.8 109.9 107.5 119.3 114.6 113.9 1,094.4
- Service A 18.7 34.0 37.6 35.0 40.6 45.7 50.7 54.1 53.0 58.7 56.4 56.1 540.6
- Service B 11.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 121.0
- Exports 18.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 238.0
- Spares 89.5 96.0 99.5 109.0 110.0 114.5 110.5 119.0 124.5 120.5 133.5 135.0 1,361.5
Unit cost of materials/packaging or goods for

resale (£/unit, or £ 0.xx if units not used): Set cells below to zero only if a 'pure' services business Average
- Product A ->> 0.36 0.36 0.36 0.36 0.36 0.36 0.36 0.36 0.36 0.36 0.36 0.36 0.36
- Product B ->> 0.38 0.38 0.38 0.38 0.38 0.38 0.38 0.38 0.38 0.38 0.38 0.38 0.38
- Service A ->> 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40
- Service B ->> 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40
- Exports ->> 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40 0.40
- Spares ->> 0.35 0.35 0.35 0.35 0.35 0.35 0.35 0.35 0.35 0.35 0.35 0.35 0.35
Cost of materials/packaging or goods required (£000):

- Product A 39.2 34.7 40.7 31.7 45.2 38.7 44.3 49.9 52.0 49.0 53.5 54.0
- Product B 13.2 26.2 29.0 27.0 31.3 35.3 39.1 41.8 40.9 45.3 43.5 43.3
- Service A 7.5 13.6 15.0 14.0 16.2 18.3 20.3 21.6 21.2 23.5 22.6 22.4
- Service B 4.4 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0
- Exports 7.2 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0
- Spares 31.3 33.6 34.8 38.2 38.5 40.1 38.7 41.7 43.6 42.2 46.7 47.3
Desired stocks of material/packaging or goods

for resale (£000): Opening Targets ->> Set cells below to zero if a 'pure' services business. Total values will be included in monthly balance sheets
- Product A ->> 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0
- Product B ->> 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0
- Service A ->> 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0
- Service B ->> 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0
- Exports ->> 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0
- Spares ->> 40.0 40.0 40.0 40.0 40.0 40.0 40.0 40.0 40.0 40.0 40.0 40.0 40.0
Total stocks (£000): 140.0 140.0 140.0 140.0 140.0 140.0 140.0 140.0 140.0 140.0 140.0 140.0 140.0
Purchases of materials/packaging & goods for resale (£000): Total

- Product A ### 34.7 40.7 31.7 45.2 38.7 44.3 49.9 52.0 49.0 53.5 54.0 #VALUE!
- Product B ### 26.2 29.0 27.0 31.3 35.3 39.1 41.8 40.9 45.3 43.5 43.3 #VALUE!
- Service A ### 13.6 15.0 14.0 16.2 18.3 20.3 21.6 21.2 23.5 22.6 22.4 #VALUE!
- Service B ### 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 #VALUE!
- Exports ### 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 #VALUE!
- Spares ### 33.6 34.8 38.2 38.5 40.1 38.7 41.7 43.6 42.2 46.7 47.3 #VALUE!
Total purchases (£000): ### 120.2 131.6 122.8 143.2 144.3 154.3 166.9 169.6 171.9 178.3 179.0 #VALUE!
Note: Purchases will not be reflected in cashflow projections until credit terms have been specified in sheet M_B
12 Months 2006 2006 2006 2007 2007 2007 2007 2007 2007 2007 2007 2007 06-07
MONTHLY ASSUMPTIONS No. 3 - DIRECT MANPOWER, OTHER DIRECT COSTS & COST OF SALES
Seasonal index ->> 21.00 19.00 22.00 21.00 22.00 21.00 22.00 21.00 21.00 22.00 22.00 21.00 255.0
Direct manpower (Persons): Try to allocate direct/variable headcount between groups, irrespective of type of business Average
- Product A ->> 10.0 11.0 12.0 13.0 14.0 15.0 16.0 17.0 18.0 19.0 20.0 21.0 15.5
- Product B ->> 10.0 10.5 11.0 11.5 12.0 12.5 13.0 13.5 14.0 14.5 15.0 15.5 12.8
- Service A ->> 5.0 5.0 5.0 5.0 5.0 10.0 5.0 10.0 10.0 10.0 10.0 10.0 7.5
- Service B ->> 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
- Exports ->> 2.0 2.2 2.4 2.6 2.8 3.0 3.2 3.4 3.6 3.8 4.0 4.2 3.1
- Spares ->> 7.0 9.0 10.0 11.0 12.0 13.0 14.0 15.0 16.0 17.0 18.0 19.0 13.4
Total direct manpower (Persons) 35.0 38.7 41.4 44.1 46.8 54.5 52.2 59.9 62.6 65.3 68.0 70.7 53.3
Sales/output per direct person (000s

units or equivalent sales value in £000): Average
- Product A 10.9 8.8 9.4 6.8 9.0 7.2 7.7 8.1 8.0 7.2 7.4 7.1 8.1
- Product B 3.5 6.6 6.9 6.2 6.9 7.4 7.9 8.1 7.7 8.2 7.6 7.3 7.0
- Service A 3.7 6.8 7.5 7.0 8.1 4.6 10.1 5.4 5.3 5.9 5.6 5.6 6.3
- Service B 11.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.1
- Exports 9.0 9.1 8.3 7.7 7.1 6.7 6.3 5.9 5.6 5.3 5.0 4.8 6.7
- Spares 12.8 10.7 10.0 9.9 9.2 8.8 7.9 7.9 7.8 7.1 7.4 7.1 8.9
Overall sales per direct person (£000) 7.6 8.5 7.9 8.2 7.1 7.2 7.5 7.0 7.3 7.0 6.8 6.9 7.4
Include wages, bonuses, overtime and all other payroll costs & taxes Average
Average payroll cost (£000/pers/ ->> 1.100 1.100 1.100 1.100 1.100 1.100 1.100 1.100 1.100 1.100 1.100 1.100 1.100
Direct payroll costs (£000): Total

- Product A 11.0 12.1 13.2 14.3 15.4 16.5 17.6 18.7 19.8 20.9 22.0 23.1 204.6
- Product B 11.0 11.6 12.1 12.7 13.2 13.8 14.3 14.9 15.4 16.0 16.5 17.1 168.3
- Service A 5.5 5.5 5.5 5.5 5.5 11.0 5.5 11.0 11.0 11.0 11.0 11.0 99.0
- Service B 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 13.2
- Exports 2.2 2.4 2.6 2.9 3.1 3.3 3.5 3.7 4.0 4.2 4.4 4.6 40.9
- Spares 7.7 9.9 11.0 12.1 13.2 14.3 15.4 16.5 17.6 18.7 19.8 20.9 177.1
Total direct payroll costs (£000) 38.5 42.6 45.5 48.5 51.5 60.0 57.4 65.9 68.9 71.8 74.8 77.8 703.1
The variable descriptions in blue can be changed
Other direct costs (£000): X = 0 to 4 Try to include direct/variable costs here, irrespective of type of business Total
-Light, heat & power (vari 2 <<->> 12.5 12.5 12.5 15.0 15.0 17.5 17.5 17.5 17.5 20.0 20.0 20.0 197.5
-Product repairs 1 <<->> 15.0 15.0 15.0 17.5 17.5 20.0 20.0 20.0 20.0 22.5 22.5 22.5 227.5
-Subcontract 1 <<->> 0.0
-Consumables A 1 <<->> 0.0
-Consumables B 1 <<->> 0.0
-Consumables C 1 <<->> 0.0
-Consumables D 1 <<->> 0.0
-Consumables E 1 <<->> 0.0
Total other direct costs (£000) 27.5 27.5 27.5 32.5 32.5 37.5 37.5 37.5 37.5 42.5 42.5 42.5 425.0
Allocation of other direct costs on the basis

of direct payroll costs (or sales) (£000): Total
- Product A 7.9 7.8 8.0 9.6 9.7 10.3 11.5 10.6 10.8 12.4 12.5 12.6 123.7
- Product B 7.9 7.5 7.3 8.5 8.3 8.6 9.3 8.5 8.4 9.4 9.4 9.3 102.3
- Service A 3.9 3.6 3.3 3.7 3.5 6.9 3.6 6.3 6.0 6.5 6.3 6.0 59.5
- Service B 0.8 0.7 0.7 0.7 0.7 0.7 0.7 0.6 0.6 0.7 0.6 0.6 8.1
- Exports 1.6 1.6 1.6 1.9 1.9 2.1 2.3 2.1 2.2 2.5 2.5 2.5 24.7
- Spares 5.5 6.4 6.6 8.1 8.3 8.9 10.1 9.4 9.6 11.1 11.3 11.4 106.7
Total cost of matl/pack & goods for resale, direct payroll and
other direct costs to cover projected requirements (£000): Total
- Product A 58.1 54.7 61.9 55.6 70.3 65.5 73.4 79.2 82.6 82.2 88.0 89.7 861.1
- Product B 32.1 45.2 48.4 48.1 52.8 57.6 62.7 65.1 64.6 70.7 69.4 69.6 686.5
- Service A 16.9 22.6 23.9 23.2 25.2 36.2 29.4 38.9 38.2 41.0 39.8 39.5 374.7
- Service B 6.3 5.8 5.8 5.8 5.8 5.8 5.8 5.7 5.7 5.8 5.7 5.7 69.7
- Exports 11.0 12.0 12.2 12.8 13.0 13.4 13.8 13.9 14.1 14.7 14.9 15.1 160.9
- Spares 44.5 49.9 52.5 58.4 60.0 63.3 64.1 67.5 70.8 71.9 77.8 79.6 760.3
Total direct costs (£000) 168.9 190.2 204.6 203.8 227.2 241.8 249.2 270.3 276.0 286.3 295.6 299.2 2,913.2
Direct cost per unit

(£/unit, or £0.xx if units not used): Average
- Product A 0.5 0.6 0.5 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6
- Product B 0.9 0.7 0.6 0.7 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6
- Service A 0.9 0.7 0.6 0.7 0.6 0.8 0.6 0.7 0.7 0.7 0.7 0.7 0.7
- Service B 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6
- Exports 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.8 0.7
- Spares 0.5 0.5 0.5 0.5 0.5 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6
Finished stocks (£000): Opening Set opening values to zero unless manufacturer with finished inventories. Total values will be included in monthly balance sheets
- Product A ->> 50.0 52.8 48.4 56.7 48.3 65.5 57.6 67.1 72.1 74.6 73.5 80.0 80.8
- Product B ->> 40.0 47.3 41.5 44.0 42.9 48.3 52.4 57.0 58.9 58.0 64.4 62.1 62.7
- Service A ->> 20.0 22.8 20.8 21.7 20.7 23.1 32.9 26.7 35.2 34.3 37.3 35.6 35.5
- Service B ->> 5.0 5.1 5.2 5.2 5.3 5.2 5.2 5.2 5.2 5.1 5.2 5.2 5.1
- Exports ->> 10.0 11.0 10.8 11.0 11.5 11.7 12.0 12.4 12.5 12.7 13.2 13.4 13.6
- Spares ->> 45.0 47.0 44.4 47.5 53.0 54.0 57.2 57.5 61.3 63.9 64.5 70.8 71.6
Total finished stocks (£000) 170.0 186.0 171.2 185.9 181.6 207.9 217.4 225.9 245.1 248.6 258.0 267.0 269.3
Cost of sales (£000): Total

- Product A 55.3 59.0 53.6 63.9 53.1 73.5 63.9 74.3 80.1 83.4 81.5 88.9 830.3
- Product B 24.8 51.0 46.0 49.2 47.4 53.5 58.1 63.1 65.6 64.4 71.7 69.1 663.8
- Service A 14.1 24.7 23.0 24.2 22.8 26.3 35.6 30.4 39.2 37.9 41.5 39.6 359.2
- Service B 6.1 5.7 5.8 5.8 5.8 5.8 5.8 5.8 5.7 5.7 5.7 5.7 69.6
- Exports 10.0 12.2 12.0 12.3 12.8 13.1 13.4 13.8 13.9 14.2 14.7 14.9 157.2
- Spares 42.5 52.5 49.4 52.8 59.0 60.1 63.9 63.7 68.1 71.4 71.5 78.7 733.7
Total cost of sales (£000) 152.9 205.0 189.8 208.2 200.9 232.3 240.7 251.1 272.5 276.9 286.5 297.0 2,813.8
12 Months 2006 2006 2006 2007 2007 2007 2007 2007 2007 2007 2007 2007 06-07
MONTHLY ASSUMPTIONS No. 4 - OVERHEADS
Seasonal index ->> 4.33 4.33 4.33 4.33 4.33 4.33 4.33 4.33 4.33 4.33 4.33 4.33 52.0
Operational overheads (£000): Use the cells below to accommodate semi-variable and indirect operating costs Tot/Avg
-Indirect manpower (Persons) ->> 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0
-Indirect payroll (£000/pers/mth) ->> 1.400 1.400 1.400 1.400 1.400 1.400 1.400 1.400 1.400 1.400 1.400 1.400 1.400
-Supervision (Persons) ->> 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0
-Supervision payroll (£000/pers/ X = 0 to 4 1.600 1.600 1.600 1.600 1.600 1.600 1.600 1.600 1.600 1.600 1.600 1.600 1.600
-Repairs & maintenance 1 <<->> 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 30.0
-Power (fixed) 1 <<->> 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 30.0
-Cleaning 1 <<->> 0.0
-Light & heat (fixed) 1 <<->> 0.0
-Miscellaneous operating o'head 1 <<->> 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 60.0
Total operational overheads (£000) 32.0 32.0 32.0 32.0 32.0 32.0 32.0 32.0 32.0 32.0 32.0 32.0 384.0
Selling & distrib. costs (£000): X = 0 to 4 The variable descriptions in blue can be changed Tot/Avg
-Freight/dist costs as % sales 2 <<->> 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0
-Selling exs/comm's as % sales 1 <<->> 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
-Salesforce nos (Persons) ->> 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0
-Sales payroll (£000/pers/mth) ->> 2.500 2.500 2.500 2.500 2.500 2.500 2.500 2.500 2.500 2.500 2.500 2.500 2.500
-Freight/distribution costs 6.5 7.2 6.6 7.9 7.8 8.4 9.1 9.2 9.3 9.7 9.7 9.7 101.1
-Selling expenses/commission X = 0 to 4 3.3 3.3 3.6 3.3 4.0 3.9 4.2 4.6 4.6 4.7 4.9 4.9 49.0
-Advertising & brochures 2 <<->> 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 96.0
-Special promotion 1 2 <<->> 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 96.0
-Special promotion 2 2 <<->> 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 96.0
-Travel expenses 2 <<->> 0.0
-Public relations, exhibitions 2 <<->> 0.0
-Miscellaneous selling/dist 2 <<->> 0.0
Total selling & distribution (£000) 46.3 47.0 46.7 47.7 48.3 48.8 49.8 50.3 50.4 50.9 51.1 51.1 588.1
Management/admin staff overheads: Tot/Avg

-Clerical staff (Persons) ->> 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0
-Clerical payroll (£000/pers/mth) ->> 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500 1.500
-Management staff (Persons) ->> 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0
-Management payroll (£000/pers/mth ->> 3.500 3.500 3.500 3.500 3.500 3.500 3.500 3.500 3.500 3.500 3.500 3.500 3.500
Total management/admin staff costs (£000) 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 600.0
Research & development The variable descriptions in blue can be changed Tot/Avg
-Staff (Persons) ->> 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0
-Staff payroll (£000/pers/mth) X = 0 to 4 2.200 2.200 2.200 2.200 2.200 2.200 2.200 2.200 2.200 2.200 2.200 2.200 2.200
-Consultancy 1 <<->> 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 120.0
-Materials 1 <<->> 0.0
Total Research & development (£000) 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 252.0
Administration overheads (£000): X = 0 to 4 The variable descriptions in blue can be changed Total
-Stationery & printing 1 <<->> 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 18.0
-Post, telephone, telex & fax 2 <<->> 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 30.0
-Travel expenses 2 <<->> 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 60.0
-Pensions 2 <<->> 0.0
-Computers 2 <<->> 0.0
-Motor expenses 2 <<->> 0.0
-Miscellaneous admin oheads A 2 <<->> 0.0
-Miscellaneous admin oheads B 2 <<->> 0.0
-Miscellaneous admin oheads C 2 <<->> 0.0
Total administration overheads (£000) 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 108.0
Establish & general costs (£000): X = 0 to 4 The variable descriptions in blue can be changed Total
-Heat & light 1 <<->> 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 6.0
-Rent & rates 2 <<->> 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 48.0
-Professional fees & audit 1 <<->> 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 120.0
-Insurances 1 <<->> 0.0
-Miscellaneous estab oheads A 1 <<->> 0.0
-Miscellaneous estab oheads B 1 <<->> 0.0
-Miscellaneous estab oheads C 1 <<->> 0.0
-Miscellaneous estab oheads D 1 <<->> 0.0
Total establishment & general costs (£000) 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 174.0
Total overheads (£000) 172.8 173.5 173.2 174.2 174.8 175.3 176.3 176.8 176.9 177.4 177.6 177.6 2,106.1
12 Months 2006 2006 2006 2007 2007 2007 2007 2007 2007 2007 2007 2007 06-07
MONTHLY ASSUMPTIONS No. 5 - FIXED ASSETS, CAPEX, LEASING & CAPITAL GRANTS
Land & Buildings <<- Opening These values will be inserted into the monthly balance sheets
Cost or valuation (£000) ->> 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 500.0 650.0 650.0 650.0 650.0
Accumulated depreciation (£000) ->> 50.0 51.3 52.5 53.8 55.0 56.3 57.5 58.8 60.0 61.3 62.9 64.5 66.1
Depreciation & grant amort rate (% pa) ->> 3.0 <<-
Base depreciation on cost (enter 0) or
use double declining balance (enter 1) ->> Enter 0 or 1 Total
Depreciation for period (£000) 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.6 1.6 1.6 16.1
X = 0 to 4 After entering capital expenditure, press F9 to update cost of the fixed assets above Total
Capital expenditure (£000) 2 <<->> 150.0 150.0
% Capex eligible for grants X = 0 to 4 70.0 <<- Set this group of cells to zero if capital grants are not available
Grant rate as % eligible capex 4 <<->> 25.0 <<- Total
Capital grants receivable (£000) Opening 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 26.3 0.0 0.0 0.0 26.3
Total capital grants (£000) ->> 125.0 125.0 125.0 125.0 125.0 125.0 125.0 125.0 125.0 151.3 151.3 151.3 151.3
Accum grant amortisation (£000) ->> 15.0 15.3 15.6 15.9 16.3 16.6 16.9 17.2 17.5 17.8 18.2 18.6 18.9
Sale of Land & Buildings (£000): Set cells below to zero if no fixed asset sales in this category Total
-Proceeds ->> 0.0
-Cost ->> 0.0
-Accumulated depreciation ->> 0.0
Plant, Machinery etc. <<- Opening These values will be inserted into the monthly balance sheets
use double declining balance (enter 1) ->> 1.0 Enter 0 or 1 Total
Capital expend excl lease (£000) 2 <<->> 150.0 150.0
Set cells below to zero if finance leasing is not being used to acquire fixed assets in this category Total
New finance leases (£000) ->> 75.0 75.0
New finance lease charges (£000) ->> 5.0 5.0 5.0 15.0
New fin lease cap'l payments (£000) ->> 8.0 8.0 8.0 24.0
Sale of Plant, Machinery etc. (£000): Set cells below to zero if no fixed asset sales in this category Total
-Proceeds ->> 50.0 50.0
-Cost ->> 20.0 20.0
-Accumulated depreciation ->> 10.0 10.0
Computers & Equipment <<- Opening These values will be inserted into the monthly balance sheets
use double declining balance (enter 1) ->> 1.0 Enter 0 or 1 Total
Sale of Computers & Equipment (£000): Set cells below to zero if no fixed asset sales in this category Total
-Proceeds ->> 50.0 50.0
-Cost ->> 20.0 20.0
Motor Vehicles <<- Opening These values will be inserted into the monthly balance sheets
use double declining balance (enter 1) ->> Enter 0 or 1 Total
% Capex eligible for grants X = 0 to 4 <<- Set this group of cells to zero if capital grants are not available
Grant rate as % eligible capex 4 <<->> <<- Total
Total capital grants (£000) ->> 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Accum grant amortisation (£000) ->> 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Sale of Motor Vehicles (£000): Set cells below to zero if no fixed asset sales in this category Total
-Proceeds ->> 25.0 25.0
-Cost ->> 10.0 10.0
Fixed Asset Summary Opening
Cost or valuation (£000) 1,050.0 1,050.0 1,050.0 1,040.0 1,250.0 1,250.0 1,250.0 1,250.0 1,250.0 1,700.0 1,750.0 1,750.0 1,710.0
Accumulated depreciation (£000) 225.0 237.5 249.6 256.5 267.7 284.3 300.4 316.1 331.4 346.3 369.9 393.9 397.2 Total
Total
Capital expenditure (£000) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 450.0 50.0 0.0 0.0 500.0
Total
Total capital grants (£000) 275.0 275.0 275.0 275.0 302.0 302.0 302.0 302.0 302.0 382.3 382.3 382.3 382.3
Accum grant amortisation (£000) 45.0 48.8 52.5 56.1 59.5 63.7 67.7 71.6 75.4 79.0 84.2 89.2 94.1
Total
New finance leases (£000) 0.0 0.0 0.0 210.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 210.0
New finance lease charges (£000) 0.0 0.0 0.0 2.5 10.0 0.0 2.5 10.0 0.0 2.5 10.0 0.0 37.5
New fin lease capital payments (£000) 0.0 0.0 0.0 2.0 16.0 0.0 2.0 16.0 0.0 2.0 16.0 0.0 54.0
Sale of fixed assets (£000): Total

-Proceeds 0.0 0.0 25.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 125.0
-Cost 0.0 0.0 10.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 40.0 50.0
-Accumulated depreciation 0.0 0.0 5.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20.0 25.0

12 Months 2006 2006 2006 2007 2007 2007 2007 2007 2007 2007 2007 2007 06-07
MONTHLY ASSUMPTIONS No. 6 - FUNDING, INTEREST RATES, VAT & RELATED ITEMS
Interest
Interest rates (% pa): Avg/Tot
-Cash at bank ->> 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0
-Overdraft ->> 13.5 13.5 13.5 13.5 13.5 13.5 13.5 13.5 13.5 13.5 13.5 13.5 13.5
-Longterm debt ->> 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5
Int payable on 'other loans' (£000) ->> 0.0
Debt & Loans Enter all increases and repayments as positive values Total
Increases in longterm debt (£000) ->> 50.0 250.0 250.0 550.0
Longterm debt repayments (£000) ->> 25.0 25.0 25.0 25.0 100.0
Total
Increases in 'other loans' (£000) ->> 125.0 125.0
'Other loan' repayments (£000) ->> 25.0 25.0
Finance Leases
Finance leases from prior years (£000): Set cells below to zero if no finance leases outstanding Total
-Charges ->> 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 45.0
-Capital payments ->> 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 90.0
Allocation of Debt Opening Opening values entered via opening balance sheet
Total longterm debt (£000) 200.0 175.0 175.0 225.0 200.0 200.0 200.0 175.0 175.0 425.0 650.0 650.0 650.0
Total 'other loans' (£000) 50.0 50.0 50.0 50.0 50.0 50.0 175.0 175.0 175.0 175.0 150.0 150.0 150.0
Total finance leases (£000) 90.0 80.0 70.0 60.0 258.0 232.0 222.0 210.0 184.0 174.0 172.0 156.0 156.0
Proportions payable within one year: Opening On first use, set cells below to zero and revise later
-Longterm debt (as % total) ->> 50.0 25.0 25.0 25.0 25.0 25.0 25.0 25.0 25.0 25.0 25.0 25.0 25.0
-'Other loans' (as % total) ->> 50.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0
-Finance leases (as % total) ->> 100.0 30.0 30.0 30.0 30.0 30.0 30.0 30.0 30.0 30.0 30.0 30.0 30.0
Various Items Total

Miscellaneous income (£000) ->> 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 120.0
X = 0 to 4 Total
Revenue grants receivable (£000) 4 <<->> 30.0 30.0 60.0
Total
Operating lease & HP payments (£000) ->> 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 66.0
Amort. = amortization; intang. = intangible assets; invest. = medium/long-term investments; w/ds = write downs. Total
Amort. intang. & invest. w/ds (£000) ->> 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 60.0
Purchases of intang. & new invest. (£000 ->> 0.0
On first use, set cells below to zero and revise later Total
Changes (+/-) in accruals (£000) ->> (20.0) (20.0)
Changes (+/-) in prepayments (£000) ->> (10.0) (10.0)
Approx % of total payroll costs relating to income On first use, set cells below in range 20-40% and revise later
taxes & social insurances for all staff (%) ->> 40.0 40.0 40.0 40.0 40.0 40.0 40.0 40.0 40.0 40.0 40.0 40.0
VAT You can change description of "VAT" from within the M_S worksheet
Calculate VAT on an invoice (enter 0) Set cells below to zero if VAT (or other similar taxes) are not applicable
or cash-received (enter 1) basis ? ->> 0 Enter 0 or 1
Enter "1" for each payment month
Mark months when VAT paid to State ->> 1 1 1 1 1 1
Average VAT rate for purchases of
materials/packaging & goods (%) ->> 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5
Percent of all other non-payroll expenses
(overheads, HP etc) subject to VAT ( ->> 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0 90.0
Average VAT rate for non-pay exs (%) ->> 15.0 15.0 15.0 15.0 15.0 15.0 15.0 15.0 15.0 15.0 15.0 15.0
Total VAT on non-pay expenses (£000) 14.6 14.9 14.9 15.7 15.6 16.5 16.5 16.6 16.8 17.5 17.5 17.6
Percent of capex, finance lease payments
and charges subject to VAT (%) ->> 80.0 80.0 80.0 80.0 80.0 80.0 80.0 80.0 80.0 80.0 80.0 80.0
Average VAT rate for these items (%) ->> 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5 17.5
VAT on capex & leases less disposals(£000) 2.1 2.1 (1.4) 2.7 5.7 2.1 2.7 5.7 65.1 7.6 3.6 (14.0)
Shares
Proceeds of share issues (£000) ->> 25.0 300.0 325.0
No. of new ord.shares issued (000s) ->> 15.0 100.0 115.0
No of ordinary shares issued & fully-paid
at opening balance sheet date (000s) ->> 500.0 <<-
Taxes & Dividends

Effective corporation tax rate for year (% ->> 7.0 <<-
X = 0 to 4
Dividends for current yr (£000) 4 <<->> 0.0
* Set row to zeros for Ltd Co ->> 0.0
* Set row to zeros for Ltd Co ->> 0.0
12 Months Opening 2006 2006 2006 2007 2007 2007 2007 2007 2007 2007 2007 2007 06-07
to end Sep Values Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Year
MONTHLY ASSUMPTIONS No. 7 - OPENING BALANCE SHEET ITEMS, CREDITORS & DEBTORS
Phasing out of opening Opening values entered via opening balance sheet
balance sheet items* *12 month total for each item must equal opening value in first column, otherwise ERR is indicated in Column B - Press F9 to Total
Trade debtors (£000) ->> 285.0 135.0 100.0 50.0 285.0
Grants receivable (£000) ->> 35.0 15.0 20.0 35.0
Trade & sundry creditors (£000) ->> 210.0 95.0 75.0 40.0 210.0
Capital expend. creditors (£000) ->> 45.0 45.0 45.0
PAYE etc due (£000) ->> 25.0 25.0 25.0
Corporation tax due (£000) ->> 0.0 0.0
Dividends due (£000) ->> 0.0 0.0
Treatment of trade creditors & Months credit given/taken: Total*

debtors for current year* Under 1 1-2 2-3 3-4 4-5 5-6 %
Material/packaging & goods creditors (% distribution *):
- Product A ->> 20.0 50.0 15.0 10.0 5.0 0.0 100.0
- Product B ->> 20.0 50.0 15.0 10.0 5.0 0.0 100.0
- Service A ->> 20.0 50.0 15.0 10.0 5.0 0.0 100.0
- Service B ->> 20.0 50.0 15.0 10.0 5.0 0.0 100.0
- Exports ->> 20.0 50.0 15.0 10.0 5.0 0.0 100.0
- Spares ->> 20.0 50.0 15.0 10.0 5.0 0.0 100.0
Trade debtors (% distribution *):
- Product A ->> 15.0 65.0 10.0 5.0 5.0 0.0 100.0
- Product B ->> 15.0 65.0 10.0 5.0 5.0 0.0 100.0
- Service A ->> 15.0 65.0 10.0 5.0 5.0 0.0 100.0
- Service B ->> 15.0 65.0 10.0 5.0 5.0 0.0 100.0
- Exports ->> 15.0 65.0 10.0 5.0 5.0 0.0 100.0
- Spares ->> 15.0 65.0 10.0 5.0 5.0 0.0 100.0
*Total for each row must equal 100%, otherwise an ERROR is indicated - Press F9 to check 100.0
160 Fig. 1 - Sales Analysis

Prod
140 uct
A
Prod
uct
120
B
Serv
ice
100 A
Serv
ice
B
£ 000
80
60
40
20
0
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
12 months commencing in Oct 2006
Fig. 2 - Sales & Profits
600
Total
500 sales
Gross
profit
400 Tradin
g
profit
300 Net
profit
£ 000
before
tax
200
100
0
-100
0
-100
Fig. 3 - Cost Analysis
140
120 Establishment &

general
Administration
100
Research &
development
80
As % sales
Management/admin
staff
60 Selling &
distribution
40 Operational
overheads
Cost of sales
20
0
Fig. 4 - Key Indicators
43 12.0 Net
borrow
as %
42 shdrs
10.0 funds
Net
41 profit
margin
8.0 (%)
40
Gross
profit
Percent
margin
Times
39 6.0
(%)
38
4.0
37
2.0
36
35 0.0
Fig. 5 - Cashflow
12
Net
10 cashflow
Net cash
balance
8
£ 000
0
Fig. 6 - Manpower
140
Research &
development
120 Management
Clerical
Sales force
100
Indirect
supervision
80 Indirect
operations
Persons
Direct - Spares
60 Direct - Exports
Direct - Service B
40 Direct - Service A
Direct - Product B
20 Direct - Product A
0
Fig. 7 - Cost of Sales Analysis

100.0
Produ
90.0 ct A
Produ
80.0 ct B
Servic
70.0 eA
Servic
60.0 eB
Export
As % sales
50.0 s
Spare
s
40.0
30.0
20.0
10.0
0.0
Fig. 8 - Gross Profit Contributions

70
Produc
tA
Produc
60 tB
Servic
eA
50 Servic
eB
Export
s
40
Spares
£ 000
30
20
10
0
12 Months 05-06 2006 2006 2006 2007 2007 2007 2007 2007 2007 2007 2007 2007 06-07 As % % Chge
to end Sep Year Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Year Sales in Year
PROFIT & LOSS ACCOUNT £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000
Sales:
- Product A 800.0 100.0 110.0 95.0 115.0 85.0 130.0 105.0 125.0 140.0 145.0 135.0 150.0 1,435.0 31 79
- Product B 420.0 33.5 57.0 70.4 77.1 70.4 83.8 93.8 103.9 110.6 107.2 120.6 113.9 1,041.9 22 148
- Service A 205.0 16.5 28.1 34.7 38.0 34.7 41.3 46.2 51.2 54.5 52.8 59.4 56.1 513.2 11 150
- Service B 206.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 120.0 3 (42)
- Exports 207.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 240.0 5 16
- Spares 475.0 85.0 105.0 95.0 100.0 110.0 110.0 115.0 110.0 120.0 125.0 120.0 135.0 1,330.0 28 180
Total sales 2,313.0 265.0 330.0 325.0 360.0 330.0 395.0 390.0 420.0 455.0 460.0 465.0 485.0 4,680.0 100 102
Cost of sales:
-Materials/packaging/goods 850.0 93.1 129.5 122.1 125.4 126.7 138.7 149.0 155.1 167.5 166.3 172.8 177.6 1,723.8 37 103
-Direct labour 225.0 34.9 45.9 42.2 49.5 45.5 57.6 55.5 61.2 68.0 69.5 72.5 77.2 679.5 15 202
-Other direct 275.0 24.9 29.6 25.5 33.2 28.7 36.0 36.2 34.8 37.0 41.1 41.2 42.2 410.6 9 49
Cost of sales 1,350.0 152.9 205.0 189.8 208.2 200.9 232.3 240.7 251.1 272.5 276.9 286.5 297.0 2,813.8 60 108
Gross profit 963.0 112.1 125.0 135.2 151.8 129.1 162.7 149.3 168.9 182.5 183.1 178.5 188.0 1,866.2 40 94
Overhead costs:
-Operational 150.0 32.0 32.0 32.0 32.0 32.0 32.0 32.0 32.0 32.0 32.0 32.0 32.0 384.0 8 156
-Selling & distribution 200.0 46.3 47.0 46.7 47.7 48.3 48.8 49.8 50.3 50.4 50.9 51.1 51.1 588.1 13 194
-Management/admin staff 215.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0 600.0 13 179
-Research & development 200.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 21.0 252.0 5 26
-Administration 75.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0 108.0 2 44
-Establishment & general 150.0 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 14.5 174.0 4 16
Total overhead costs 990.0 172.8 173.5 173.2 174.2 174.8 175.3 176.3 176.8 176.9 177.4 177.6 177.6 2,106.1 45 113
Trading profit (27.0) (60.7) (48.5) (38.0) (22.4) (45.7) (12.6) (27.0) (7.8) 5.6 5.7 0.9 10.5 (239.9) (5)
Less: Bad debts 5.0 1.3 1.7 1.6 1.8 1.7 2.0 2.0 2.1 2.3 2.3 2.3 2.4 23.4 1 368
Less: Depreciation 50.0 12.5 12.1 11.8 11.3 16.6 16.1 15.7 15.3 14.9 23.6 24.0 23.3 197.2 4 294
Less: Operating lease & HP paym 45.0 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 66.0 1 47
Plus: Profit(loss) sale of F Assets 0.0 0.0 20.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 80.0 100.0 2
Plus: Revenue grants receivable 125.0 0.0 0.0 0.0 30.0 0.0 0.0 0.0 0.0 30.0 0.0 0.0 0.0 60.0 1 (52)
Operating Profit (2.0) (80.0) (67.8) (37.0) (10.9) (69.4) (36.2) (50.1) (30.7) 12.9 (25.7) (30.9) 59.2 (366.6) (8)
Less: Interest payable 57.0 ### ### ### ### ### ### ### ### ### ### ### ### #VALUE! ### #VALUE!
Less: Finance lease charges 55.0 5.0 5.0 5.0 7.5 15.0 5.0 7.5 15.0 5.0 2.5 10.0 0.0 82.5 2 50
Less: Amort. intang. & invest. w/ds 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 60.0 1
Plus: Interest receivable 2.0 ### ### ### ### ### ### ### ### ### ### ### ### #VALUE! ### #VALUE!
Plus: Capital grant amortisation 12.5 3.8 3.7 3.6 3.5 4.1 4.0 3.9 3.8 3.7 5.2 5.0 4.9 49.1 1 292
Plus: Miscellaneous income 75.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 120.0 3 60
Net profit before tax (24.5) ### ### ### ### ### ### ### ### ### ### ### ### #VALUE! ###
Corporation tax ### ### ### ### ### ### ### ### ### ### ### ### #VALUE! ###
Profit after tax (24.5) ### ### ### ### ### ### ### ### ### ### ### ### #VALUE! ###
Dividends declared 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0
Transferred to reserves (24.5) ### ### ### ### ### ### ### ### ### ### ### ### #VALUE! ###
12 Months 2006 2006 2006 2007 2007 2007 2007 2007 2007 2007 2007 2007 06-07
CASHFLOW PROJECTIONS £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000
Cash Inflows
Total trade debtor receipts (Note 1) 179.8 349.7 376.2 351.6 390.5 385.0 432.3 440.7 471.7 505.5 515.2 526.9 4,925.1
Total grants received (Note 2) 15.0 20.0 0.0 ### 0.0 0.0 0.0 57.0 0.0 0.0 0.0 0.0 #VALUE!
Proceeds of share issues 0.0 25.0 0.0 0.0 0.0 0.0 300.0 0.0 0.0 0.0 0.0 0.0 325.0
Increases in longterm debt 0.0 0.0 50.0 0.0 0.0 0.0 0.0 0.0 250.0 250.0 0.0 0.0 550.0
Increases in other loans 0.0 0.0 0.0 0.0 0.0 125.0 0.0 0.0 0.0 0.0 0.0 0.0 125.0
Proceeds from sale of fixed assets 0.0 0.0 25.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 100.0 125.0
VAT recovered from State ### 0.0 ### 0.0 ### 0.0 ### 0.0 ### 0.0 ### 0.0 #VALUE!
Miscellaneous income received 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 120.0
Interest received ### ### ### ### ### ### ### ### ### ### ### ### #VALUE!
Total cash inflow ### ### ### ### ### ### ### ### ### ### ### ### #VALUE!
Cash Outflows
Materials/goods creditor payments (Note 3) ### ### ### ### ### ### 164.2 174.8 185.6 191.1 196.4 201.6 #VALUE!
Total direct cost payments (Note 4) ### ### 71.9 74.8 80.3 89.1 93.4 100.0 105.2 108.1 113.6 119.1 #VALUE!
Total overhead payments (Note 5) ### ### 173.2 174.2 174.8 175.3 176.3 176.8 176.9 177.4 177.6 177.6 #VALUE!
Corporation tax payments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Dividends paid 0.0 0.0 0.0 ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
Finance lease capital payments 10.0 10.0 10.0 12.0 26.0 10.0 12.0 26.0 10.0 2.0 16.0 0.0 144.0
Finance lease charges paid 5.0 5.0 5.0 7.5 15.0 5.0 7.5 15.0 5.0 2.5 10.0 0.0 82.5
Total capital expend. payments (Note 6) ### ### 45.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 500.0 0.0 #VALUE!
Operating lease & HP payments 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 5.5 66.0
Longterm debt repayments 25.0 0.0 0.0 25.0 0.0 0.0 25.0 0.0 0.0 25.0 0.0 0.0 100.0
Other loan repayments 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25.0 0.0 0.0 25.0
Purchases of intang. & new invest. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
VAT paid on o/h expense, capex etc. inputs 16.7 17.0 13.5 18.4 21.3 18.6 19.2 22.4 81.9 25.1 21.1 3.6 278.8
VAT paid to State ### 0.0 ### 0.0 ### 0.0 ### 0.0 ### 0.0 ### 0.0 #VALUE!
Opening PAYE etc. paid 25.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25.0
Changes in prepayments (10.0) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 (10.0)
Changes in accruals 0.0 20.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 20.0
Interest paid ### ### ### ### ### ### ### ### ### ### ### ### #VALUE!
Total cash outflow ### ### ### ### ### ### ### ### ### ### ### ### #VALUE!
Net cashflow ### ### ### ### ### ### ### ### ### ### ### ### #VALUE!
Opening
Closing net cash balances (overdra (110.0) ### ### ### ### ### ### ### ### ### ### ### ### #VALUE!
Notes on Cashflow Projections
Note 1
Trade debtor receipts (Net of bad debts):
- Product A 18.1 98.1 115.3 114.4 129.4 116.2 143.6 132.4 148.7 164.9 168.6 166.1 1,515.8
- Product B 5.9 35.4 59.5 75.6 84.4 84.6 96.9 107.9 118.3 125.3 127.1 136.7 1,057.7
- Service A 2.9 17.5 29.3 37.2 41.6 41.7 47.7 53.1 58.3 61.7 62.6 67.3 520.9
- Service B 1.8 9.4 10.5 11.1 11.7 11.7 11.7 11.7 11.7 11.7 11.7 11.7 126.3
- Exports 3.5 18.7 21.0 22.2 23.4 23.4 23.4 23.4 23.4 23.4 23.4 23.4 252.5
- Spares 12.7 70.6 90.5 91.0 100.0 107.5 109.0 112.2 111.4 118.4 121.9 121.6 1,166.9
Opening trade debtor receipts 135.0 100.0 50.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 285.0
179.8 349.7 376.2 351.6 390.5 385.0 432.3 440.7 471.7 505.5 515.2 526.9 4,925.1
Note 2
Revenue grants received 0.0 0.0 0.0 ### 0.0 0.0 0.0 30.0 0.0 0.0 0.0 0.0 #VALUE!
Capital grants received:
-Land & Buildings 0.0 0.0 0.0 ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Plant, Machinery etc. 0.0 0.0 0.0 ### 0.0 0.0 0.0 13.5 0.0 0.0 0.0 0.0 #VALUE!
-Computers & Equipment 0.0 0.0 0.0 ### 0.0 0.0 0.0 13.5 0.0 0.0 0.0 0.0 #VALUE!
-Motor Vehicles 0.0 0.0 0.0 ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
Opening grants received 15.0 20.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 35.0
15.0 20.0 0.0 ### 0.0 0.0 0.0 57.0 0.0 0.0 0.0 0.0 #VALUE!
Note 3
Material/goods creditor payments:
- Product A ### ### ### ### ### ### 46.0 50.4 55.1 56.8 57.5 60.2 #VALUE!
- Product B ### ### ### ### ### ### 39.3 43.1 45.8 47.4 50.0 49.7 #VALUE!
- Service A ### ### ### ### ### ### 20.4 22.4 23.7 24.6 25.9 25.8 #VALUE!
- Service B ### ### ### ### ### ### 4.6 4.6 4.6 4.6 4.6 4.6 #VALUE!
- Exports ### ### ### ### ### ### 9.2 9.2 9.2 9.2 9.2 9.2 #VALUE!
- Spares ### ### ### ### ### ### 44.8 45.2 47.3 48.5 49.3 52.2 #VALUE!
Opening trade creditor payments 95.0 75.0 40.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 210.0
### ### ### ### ### ### 164.2 174.8 185.6 191.1 196.4 201.6 #VALUE!
Note 4
Direct cost payments:
-Wages and salaries(directs) 23.1 25.5 27.3 29.1 30.9 36.0 34.5 39.5 41.3 43.1 44.9 46.7 421.9
-Income taxes & social insurances (directs) ### 15.4 17.0 18.2 19.4 20.6 24.0 23.0 26.4 27.5 28.7 29.9 #VALUE!
-Light, heat & power (variable) 0.0 ### 12.5 12.5 12.5 15.0 15.0 17.5 17.5 17.5 17.5 20.0 #VALUE!
-Product repairs ### 15.0 15.0 15.0 17.5 17.5 20.0 20.0 20.0 20.0 22.5 22.5 #VALUE!
-Subcontract ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Consumables A ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Consumables B ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Consumables C ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Consumables D ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Consumables E ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
### ### 71.9 74.8 80.3 89.1 93.4 100.0 105.2 108.1 113.6 119.1 #VALUE!
Note 5
Overhead cost payments:
-Repairs & maintenance ### 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 #VALUE!
-Power (fixed) ### 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 #VALUE!
-Cleaning ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Light & heat (fixed) ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Miscellaneous operating o'heads ### 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 #VALUE!
-Wages and salaries (overheads) 57.3 57.3 57.3 57.3 57.3 57.3 57.3 57.3 57.3 57.3 57.3 57.3 687.6
-Income taxes & social insurances (overhea ### 38.2 38.2 38.2 38.2 38.2 38.2 38.2 38.2 38.2 38.2 38.2 #VALUE!
-Freight/distribution 6.5 7.2 6.6 7.9 7.8 8.4 9.1 9.2 9.3 9.7 9.7 9.7 101.1
-Selling exs/commissions 3.3 3.3 3.6 3.3 4.0 3.9 4.2 4.6 4.6 4.7 4.9 4.9 49.0
-Advertising & brochures 0.0 ### 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 #VALUE!
-Special promotion 1 0.0 ### 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 #VALUE!
-Special promotion 2 0.0 ### 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 8.0 #VALUE!
-Travel expenses 0.0 ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Public relations, exhibitions 0.0 ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Miscellaneous selling/dist 0.0 ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Stationery & printing ### 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 #VALUE!
-Post, telephone, telex & fax 0.0 ### 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 #VALUE!
-Travel expenses 0.0 ### 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 #VALUE!
-Pensions 0.0 ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Computers 0.0 ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Motor expenses 0.0 ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Miscellaneous admin oheads A 0.0 ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Miscellaneous admin oheads B 0.0 ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Miscellaneous admin oheads C 0.0 ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Consultancy ### 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 #VALUE!
-Materials ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Heat & light ### 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 #VALUE!
-Rent & rates 0.0 ### 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 #VALUE!
-Professional fees & audit ### 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 #VALUE!
-Insurances ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Miscellaneous estab oheads A ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Miscellaneous estab oheads B ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Miscellaneous estab oheads C ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
-Miscellaneous estab oheads D ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 #VALUE!
### ### 173.2 174.2 174.8 175.3 176.3 176.8 176.9 177.4 177.6 177.6 #VALUE!
Note 6
Capital expenditure payments:
-Land & Buildings 0.0 ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 150.0 0.0 #VALUE!
-Plant, Machinery etc. 0.0 ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 150.0 0.0 #VALUE!
-Computers & Equipment 0.0 ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 150.0 0.0 #VALUE!
-Motor Vehicles ### 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50.0 0.0 #VALUE!
Opening capex creditor payments 0.0 0.0 45.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 45.0
### ### 45.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 500.0 0.0 #VALUE!
12 Months 2006 2006 2006 2006 2007 2007 2007 2007 2007 2007 2007 2007 2007
to end Sep Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
BALANCE SHEETS £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000
Fixed assets @ cost 1,050.0 1,050.0 1,050.0 1,040.0 1,250.0 1,250.0 1,250.0 1,250.0 1,250.0 1,700.0 1,750.0 1,750.0 1,710.0
Accumulated depreciation 225.0 237.5 249.6 256.5 267.7 284.3 300.4 316.1 331.4 346.3 369.9 393.9 397.2
Fixed assets @ WDV 825.0 812.5 800.4 783.5 982.3 965.7 949.6 933.9 918.6 1,353.7 1,380.1 1,356.1 1,312.8
Intang. assets & invest. @ WDV 70.0 65.0 60.0 55.0 50.0 45.0 40.0 35.0 30.0 25.0 20.0 15.0 10.0
Current assets:
Stocks 310.0 326.0 311.2 325.9 321.6 347.9 357.4 365.9 385.1 388.6 398.0 407.0 409.3
Trade debtors 285.0 403.7 425.4 415.8 471.8 450.9 513.1 520.4 555.9 600.1 615.7 628.0 649.8
Prepayments 75.0 65.0 65.0 65.0 65.0 65.0 65.0 65.0 65.0 65.0 65.0 65.0 65.0
Grants 35.0 20.0 0.0 0.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
VAT recoverable from State 25.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Cash at bank 10.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Total current assets 740.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Creditors - within one year:

Overdraft 120.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Trade & sundry creditors 210.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Other creditors:
Capex creditors 45.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
PAYE etc 25.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
VAT due to State 20.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Corporation tax #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Dividends 0.0 0.0 0.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Accruals 30.0 30.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0
Longterm creditors-within 1 year:
Longterm debt 100.0 43.8 43.8 56.3 50.0 50.0 50.0 43.8 43.8 106.3 162.5 162.5 162.5
Other loans 25.0 10.0 10.0 10.0 10.0 10.0 35.0 35.0 35.0 35.0 30.0 30.0 30.0
Finance lease obligations 90.0 24.0 21.0 18.0 77.4 69.6 66.6 63.0 55.2 52.2 51.6 46.8 46.8
Total current liabilities 665.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net current assets 75.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Total assets less curr liabilities 970.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Creditors - after one year:

Longterm debt 100.0 131.3 131.3 168.8 150.0 150.0 150.0 131.3 131.3 318.8 487.5 487.5 487.5
Other loans 25.0 40.0 40.0 40.0 40.0 40.0 140.0 140.0 140.0 140.0 120.0 120.0 120.0
Finance lease obligations 56.0 49.0 42.0 180.6 162.4 155.4 147.0 128.8 121.8 120.4 109.2 109.2
Provisions for liabilities etc:

Government grants 230.0 226.2 222.5 218.9 242.5 238.3 234.3 230.4 226.6 303.2 298.1 293.1 288.2
Net assets 615.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Share capital & premium account 850.0 850.0 875.0 875.0 875.0 875.0 875.0 1,175.0 1,175.0 1,175.0 1,175.0 1,175.0 1,175.0
Reserves (235.0) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Shareholders' funds 615.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
CHECK balance sheets balance >> 0.000 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
12 Months 05-06 2006 2006 2006 2007 2007 2007 2007 2007 2007 2007 2007 2007 06-07
to end Sep Year Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Year
PERFORMANCE REVIEW (Annual averages where appropriate)
Net borrowings (cash surplus) as percentage

of shareholders' funds 59 ### ### ### ### ### ### ### ### ### ### ### ### #VALUE!
Current asset ratio (times) 1.1 ### ### ### ### ### ### ### ### ### ### ### ### #VALUE!
Avg
Trade debtors (days annualised 45 46 39 39 40 42 40 41 40 40 41 41 41 41
Stocks (days annualised sales) 49 37 29 31 27 32 28 29 28 26 26 27 26 29
Creditors (days annualised cost 33 ### ### ### ### ### ### ### ### ### ### ### ### #VALUE!
As % sales:
-Materials/packaging & goods 36.7 35.1 39.2 37.6 34.8 38.4 35.1 38.2 36.9 36.8 36.2 37.2 36.6 36.8
-Direct labour 9.7 13.2 13.9 13.0 13.8 13.8 14.6 14.2 14.6 14.9 15.1 15.6 15.9 14.5
-Gross profit 41.6 42.3 37.9 41.6 42.2 39.1 41.2 38.3 40.2 40.1 39.8 38.4 38.8 39.9
-Research & development 8.6 7.9 6.4 6.5 5.8 6.4 5.3 5.4 5.0 4.6 4.6 4.5 4.3 5.4
-Selling/distribution expenses 8.6 17.5 14.2 14.4 13.3 14.6 12.4 12.8 12.0 11.1 11.1 11.0 10.5 12.6
-Trading profit (1.2) (22.9) (14.7) (11.7) (6.2) (13.8) (3.2) (6.9) (1.9) 1.2 1.2 0.2 2.2 -5.1
-Net profit before tax (1.1) ### ### ### ### ### ### ### ### ### ### ### ### #VALUE!
Gross profit breakdown (£000):

- Product A 44.7 51.0 41.4 51.1 31.9 56.5 41.1 50.7 59.9 61.6 53.5 61.1 604.7
- Product B 8.7 5.9 24.4 27.9 22.9 30.2 35.7 40.7 45.0 42.8 48.9 44.8 378.0
- Service A 2.4 3.4 11.7 13.8 11.8 14.9 10.6 20.8 15.3 14.9 17.9 16.5 153.9
- Service B 3.9 4.3 4.2 4.2 4.2 4.2 4.2 4.2 4.3 4.3 4.3 4.3 50.4
- Exports 10.0 7.8 8.0 7.7 7.2 6.9 6.6 6.2 6.1 5.8 5.3 5.1 82.8
- Spares 42.5 52.5 45.6 47.2 51.0 49.9 51.1 46.3 51.9 53.6 48.5 56.3 596.3
Overall gross profit (£000) 112.1 125.0 135.2 151.8 129.1 162.7 149.3 168.9 182.5 183.1 178.5 188.0 1866.2
Gross profit as % sales:

- Product A 44.7 46.4 43.6 44.4 37.6 43.5 39.2 40.6 42.8 42.5 39.7 40.7 42.1
- Product B 26.0 10.4 34.7 36.2 32.6 36.1 38.0 39.2 40.7 40.0 40.6 39.4 36.3
- Service A 14.4 12.1 33.7 36.3 34.2 36.2 23.0 40.7 28.1 28.1 30.1 29.5 30.0
- Service B 38.6 42.8 41.9 42.3 41.7 42.1 42.1 41.9 42.8 43.0 42.5 42.8 42.0
- Exports 50.0 39.2 40.0 38.6 36.0 34.7 33.0 30.9 30.5 29.1 26.6 25.4 34.5
- Spares 50.0 50.0 47.9 47.2 46.4 45.4 44.4 42.1 43.2 42.9 40.4 41.7 44.8
Average number of employees (Persons) 80.0 83.7 86.4 89.1 91.8 99.5 97.2 104.9 107.6 110.3 113.0 115.7 98.3
Annualised sales per employee (£000) 39.8 47.3 45.1 48.5 43.1 47.6 48.1 48.0 50.7 50.0 49.4 50.3 47.3
12 Months 05-06 2006 2006 2006 2007 2007 2007 2007 2007 2007 2007 2007 2007 06-07 As % % Chge
to end Sep Year Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Year Sales in Year
SUMMARY £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000
Sales 2,313.0 265.0 330.0 325.0 360.0 330.0 395.0 390.0 420.0 455.0 460.0 465.0 485.0 4,680.0 100 102
Cost of sales 1,350.0 152.9 205.0 189.8 208.2 200.9 232.3 240.7 251.1 272.5 276.9 286.5 297.0 2,813.8 60 108
Gross profit 963.0 112.1 125.0 135.2 151.8 129.1 162.7 149.3 168.9 182.5 183.1 178.5 188.0 1,866.2 40 94
Other costs, interest, depn et 987.5 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net profit before tax (24.5) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net cashflow NA #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Cash at bank 10.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Overdraft 120.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Fixed/intang. assets & inv 895.0 877.5 860.4 838.5 1,032.3 1,010.7 989.6 968.9 948.6 1,378.7 1,400.1 1,371.1 1,322.8 1,322.8 48
Current assets 740.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Current liabilities 665.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net current assets 75.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Creditors - after one year 355.0 453.4 442.7 469.7 613.1 590.7 679.7 648.7 626.7 883.8 1,026.0 1,009.8 1,004.9 1,004.9 183
Net assets 615.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Shareholders' funds 615.0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Years ending 06-07 06-07 06-07 06-07 07-08 07-08 07-08 07-08 08-09 08-09 08-09 08-09
Sep 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr
ASSUMPTIONS FOR 2nd & 3rd YEARS AND PROJECTIONS FOR 1st YEAR - SALES & COSTS
Sales (000s units or £000):

- Product A ->> 305 330 370 430 450 465 410 455 505 550 525 560
- Product B ->> 161 231 308 342 369 318 402 436 452 402 469 452
- Service A ->> 79 114 152 168 182 157 198 215 223 198 231 223
- Service B ->> 30 30 30 30 182 157 198 215 223 198 231 223
- Exports ->> 60 60 60 60 182 157 198 215 223 198 231 223
- Spares ->> 285 320 345 380 325 265 270 285 275 300 325 350
- New products/services ->> ->> ->> ->> ->> 10 30 40 60 70 85
Net selling prices (£/unit):

- Product A ->> 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
- Product B ->> 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
- Service A ->> 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
- Service B ->> 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
- Exports ->> 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
- Spares ->> 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
- New products/services ->> ->> ->> ->> ->> 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
Sales (£000):
- Product A 305 330 370 430 450 465 410 455 505 550 525 560
###
- Product B 161 231 308 342 369 318 402 436 452 402 469 452
- Service A 79 114 152 168 182 157 198 215 223 198 231 223
- Service B 30 30 30 30 182 157 198 215 223 198 231 223
- Exports 60 60 60 60 182 157 198 215 223 198 231 223
- Spares 285 320 345 380 325 265 270 285 275 300 325 350
- New products/services 0 0 10 30 40 60 70 85
Total sales (£000) 920 1,085 1,265 1,410 1,688 1,519 1,686 1,849 1,941 1,906 2,082 2,116
Matls/pack & goods for resale as % sales:

- Product A ->> 36.0 36.0 36.0 36.0 35.0 34.7 34.3 34.0 33.6 33.3 33.0 32.6
- Product B ->> 38.0 38.0 38.0 38.0 38.0 38.0 38.0 38.0 38.0 38.0 38.0 38.0
- Service A ->> 40.0 40.0 40.0 40.0 40.0 40.0 39.0 39.0 38.0 38.0 37.0 37.0
- Service B ->> 40.0 40.0 40.0 40.0 40.0 40.0 39.0 39.0 38.0 38.0 37.0 37.0
- Exports ->> 40.0 40.0 40.0 40.0 40.0 40.0 39.0 39.0 38.0 38.0 37.0 37.0
- Spares ->> 35.0 35.0 35.0 35.0 35.0 34.7 34.3 34.0 33.6 33.3 33.0 32.6
- New products/services ->> ->> ->> ->> ->> 35.0 35.0 35.0 35.0 35.0 35.0 35.0 35.0
Direct costs as % sales:

-Total matls/pack & goods for resale 37.5 36.0 37.3 36.7 37.3 37.0 36.8 36.7 36.2 35.8 35.5 35.3###
-Labour ->> 13.4 14.1 14.6 15.5 14.0 14.0 14.0 14.0 14.0 14.0 14.0 14.0###
-Other ->> 8.7 9.0 8.5 8.8 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0###
Overhead costs (£000):

-Operational ->> 96 96 96 96 90 93 96 99 102 105 108 111
###
-Selling & distribution ->> 140 145 150 153 100 103 106 109 112 115 118 121
-Management/admin staff ->> 150 150 150 150 150 152 154 156 158 160 162 164
-Research & development ->> 63 63 63 63 60 60 60 60 70 70 75 75
-Administration ->> 27 27 27 27 30 31 32 33 34 35 36 37
-Establishment & general ->> 44 44 44 44 44 46 48 50 52 54 56 58
Total overhead costs (£000) 519 524 530 532 474 485 496 507 528 539 555 566
Years ending 06-07 06-07 06-07 06-07 07-08 07-08 07-08 07-08 08-09 08-09 08-09 08-09
Sep 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr
ASSUMPTIONS FOR 2nd & 3rd YEARS AND PROJECTIONS FOR 1st YEAR - OTHER ITEMS
Various Items
Annualised sales per employee (£ ->> 43 44 47 49 45 46 47 48 49 50 51 52###
Operating lease/HP payments (£00 ->> 17 17 17 17 18 18 18 18 18 18 18 18###
Miscellaneous income (£000) ->> 30 30 30 30 30 30 30 30 30 30 30 30###
Bad debts (£000) ->> 5 5 6 7 9 10 11 12 13 14 15 16###
Amort. intang. & invest. w/ds (£000 ->> 15 15 15 15 2 ###
Purchases of intang. & new invest. ->> 0 0 0 0
Dividends declared (£000) ->> 0 0 0 0 50 75###
Dividend payments (£000) ->> 0 ### 0 0 50 ###
Taxes
Effective corp'n tax rate (%) ->> ->> ->> ->> ### ->> ->> ->> 7.0 ->> ->> ->> 8.0###
Corporation tax payments (£000) 0 0 0 0 - ### - - - ### - ###
-
Fixed Assets
Fixed assets at cost - closing (£00 1,050 1,040 1,250 1,700 1,710 1,710 1,745 1,995 1,970 1,970 2,195 2,135 2,135###
Accum depreciation - opening (£000) 225 256 300 346 397 440 474 523 558 607 662 680###
Composite depreciation rate (% pa ->> 13.9 14.9 14.7 16.4 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0###
Capex - excl finance leases (£000) ->> 0 0 450 50 250 225 ###
Capex payments (£000) ->> ### 0 0 500 250 50 175 ###
Sale of fixed assets (£000):

-Proceeds ->> 25 0 0 100 75 75 175 ###
-Cost ->> 10 0 0 40 25 25 60 ###
-Accumulated depreciation ->> 5 0 0 20 10 15 35 ###
Shares
Proceeds of share issues (£000) ->> 25 0 300 0 200 ###
No of new shares issued (000s) ->> 15 0 100 0 50 ###
Debt & Loans

Increases in longterm debt (£000) ->> 50 0 250 250 200 ###
Longterm debt repayments (£000) ->> 25 25 25 25 25 25 25 25 25 25 25 25###
Increase in 'other loans' (£000) ->> 0 125 0 0 150 ###
'Other loan' repayments (£000) ->> 0 0 0 25 25 25###
Interest
Interest rates (% pa):
-Cash at bank * ->> 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0###
-Overdraft * ->> 13.5 13.5 13.5 13.5 13.5 13.5 13.5 13.5 13.5 13.5 13.5 13.5###
-Longterm debt * ->> 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5 12.5###
Int payable on 'other loans' (£000) ->> 0 0 0 0 5 5 5 5 5 5 5###
Finance Leases
New finance lease obligations (£00 ->> 0 210 0 0 60 ###
Finance lease charges (£000) ->> 15 28 28 13 10 10 10 10 10 10 10 10###
Finance lease capital payments (£ ->> 30 48 48 18 10 10 10 10 10 10 10 10###
Allocation of Debt
Total longterm debt outstanding (£000) 225 200 425 650 625 600 575 550 525 700 675 650###
Total 'other loans' outstanding (£000) 50 175 175 150 150 300 300 300 275 275 275 250###
Total finance lease obligations o/s (£000) 60 222 174 156 146 196 186 176 166 156 146 136###
Proportions payable within one year:
-Longterm debt (as % total) * ->> 25 25 25 25 50 50 50 50 50 50 50 50###
-'Other loans' (as % total) * ->> 20 20 20 20 33 33 33 33 33 33 33 33###
-Finance leases (as % total) * ->> 30 30 30 30 30 30 30 30 30 30 30 30###
Grants
Capital grants receivable (£000) ->> 0 27 80 0 60 ###
Revenue grants receivable (£000) ->> 0 30 30 0 30 ###
Capital & rev. grants rec'd (£000) ->> 35 ### 57 0 50 30 60 ###
Capital grant amort rate (% pa) * ->> 19.6 19.9 19.6 20.2 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0###
Working Capital
Trade debtor days ->> 41 43 43 42 42 42 42 42 42 42 42 42###
Stock days ->> 32 30 28 26 28 29 31 33 36 36 36 36###
Trade creditor days ->> ### ### ### ### 28 28 28 28 28 28 28 28###
Level of prepayments (£000) 75 65 65 65 65 60 60 60 60 60 60 60 60###

Level of accruals (£000) 30 10 10 10 10 10 10 10 10 10 10 10 10###
VAT
Effective VAT rate on sales (%) * ->> 13.2 13.4 13.8 13.9 14.0 14.0 14.0 14.0 14.0 14.0 14.0 14.0###
Effective VAT rate on inputs (%) * ->> ### 9.4 10.6 9.1 9.0 9.0 9.0 9.0 9.0 9.0 9.0 9.0###
For items marked * in the Quarterly Assumptions, the rates entered for the fourth quarter of the third year are also used for the fourth & fifth years.
Quarterly Charts

Sales
2,500
Gros
s
profit
2,000 Tradi
ng
profit
Net
1,500 profit
befor
e tax
£ 000
1,000
500
0
1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr
-500
12 quarters commencing in Oct 2006
Fig. 10 - Cashflow
12
Net
cashflow
Net cash
10 balance
8
£ 000
0

42 12 Net
profit
margin
42 (%)
10
41 Gross
profit
margin
41 8 (%)
Percentage (%)
Percenage (%)
Trading
40 profit as
6 %
40 capital
employ
ed
39 4
39
2
38
38 0
Fig. 12 - Financial Ratios
12.0
Annualis
ed
10.0 sales/ca
pital
employe
d
8.0
Current
asset
ratio
Interest
Times
6.0
cover
4.0
2.0
0.0
Fig. 13 - Working Capital
50
45 Trade
debtor
40 days
Stock
35 days
Trade
30 credit
or
days
Days
25
20
15
10
0
Fig. 14 - Capital Expenditure & Grants
500
450
400 Capital
Expenditure
350 Proceeds
from Asset
300 Sales
Grants
£ 000
250
received
200
150
100
50
0
Chart Values - These items will not be printed

Sales 920.0 1085.0 1265.0 1410.0 1688.0 1518.5 1686.0 1849.0 1940.5 1906.0 2082.0 2115.5
Gross 372.2 443.6 500.7 549.6 670.7 607.3 677.0 745.5 792.2 785.2 863.9 883.2
Tradin -147.2 -80.6 -29.2 17.1 196.7 122.3 181.0 238.5 264.2 246.2 308.9 317.2
Net pr #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
£ 000
Fig. 10 - Cashflow
Net c #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net c #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
£ 000
Net bo #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net pr #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Gross 40.5 40.9 39.6 39.0 39.7 40.0 40.2 40.3 40.8 41.2 41.5 41.7
Tradin #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
£ 000

Annua #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Curren #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Intere #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Times
Trade 41.2 43.2 43.3 42.1 42.0 42.0 42.0 42.0 42.0 42.0 42.0 42.0
Stock 32.3 30.1 28.0 26.5 28.0 29.0 31.0 33.0 36.0 36.0 36.0 36.0
Trade #VALUE! #VALUE! #VALUE! #VALUE! 28.0 28.0 28.0 28.0 28.0 28.0 28.0 28.0
Fig. 14 - Capital Expenditure & Grants
Capita 0.0 0.0 450.0 50.0 0.0 0.0 250.0 0.0 0.0 225.0 0.0 0.0
Proce 25.0 0.0 0.0 100.0 0.0 75.0 0.0 75.0 0.0 0.0 175.0 0.0
Grant 35.0 #VALUE! 57.0 0.0 50.0 30.0 60.0 0.0 0.0 0.0 0.0 0.0
£ 000
Years ending Sep 07-08 08-09 09-10 10-11
ASSUMPTIONS FOR 4TH & 5TH YEARS
Sales & Costs

Change in sales over previous year (%->> 44.0 19.3 15.0 10.0
Gross profit margin (%) ->> 40.1 41.3 41.0 41.0
Total overheads (£000) ->> 1,962 2,188 2,400 2,600
Annual sales per employee (£000) ->> 47 51 55 60
Various Items
Operating lease/HP payments (£000) ->> 72 72 80 90
Miscellaneous income (£000) ->> 120 120 200 230
Bad debts (£000) ->> 42 58 40 45
Amort. intang. & invest. w/ds (£000) ->> 2 0
Dividends declared (£000) ->> 0 125 150 140
Effective corp'n tax rate (%) ->> 7.0 8.0 8.0 8.0
Fixed Assets
Capex - excl finance leases (£000) ->> 250 225 350 300
Sale of fixed assets (£000):
-Proceeds ->> 150 175 100
-Cost ->> 50 60 35
-Accumulated depreciation ->> 25 35 20
Shares
Proceeds of share issues (£000) ->> 200 0
Number of new shares issued (000s) ->> 50 0
Debt & Leases

Change in longterm debt (£000) ->> (100) 100
Change in 'other loans' (£000) ->> 150 (50) 50 50
Int payable on 'other loans' (£000) ->> 15 20 10 10
New finance lease obligations (£000) ->> 60 0 100 100
Finance lease charges (£000) ->> 40 40 30 30
Finance lease capital payments (£000 ->> 40 40 50 50
Working Capital
Trade debtor days ->> 46 44 45 45
Stock days ->> 36 38 38 38
Trade creditor days ->> #VALUE! #VALUE! 32 32
Grants
Capital grants receivable (£000) ->> 60 0
Revenue grants receivable (£000) ->> 30 0 25
Annual Charts

12,000
Sales
10,000 Gross
profit
Tradin
8,000 g profit
Net
profit
6,000 before
tax
£ 000
4,000
2,000
0
05-06 06-07 07-08 08-09 09-10 10-11
-2,000
Years commencing Oct
Fig. 16 - Cashflow
0
05-06 06-07 07-08 08-09 09-10 10-11
Net
cashflow
(20) Net cash
balance
(40)
£ 000
(60)
(80)
(100)
(120)

45.0 70.0
Net
profit
40.0 margin
60.0 (%)
35.0
Gross
50.0 profit
30.0 margin
(%)
Percentage (%)
Percentage (%)
25.0
40.0 Trading
20.0 profit
as %
30.0 capital
15.0 employ
ed
10.0 20.0
5.0
10.0
0.0
05-06 06-07 07-08 08-09 09-10 10-11
-5.0 0.0

3.0
Annualis
2.5 ed
sales/ca
pital
employe
2.0 d
Current
asset
ratio
Interest
Times
1.5
cover
1.0
0.5
0.0
05-06 06-07 07-08 08-09 09-10 10-11

60
Trade
50 debtor
days
Stock
days
40 Trade
creditor
days
Days
30
20
10
0
05-06 06-07 07-08 08-09 09-10 10-11

05-06 06-07 07-08 08-09 09-10 10-11
Sales 2313 4680 6742 8044 9251 10176
Gross 963 1866 2700 3325 3793 4172
Tradin -27 -240 738 1137 1393 1572
Net pr -25 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
£ 000
Fig. 16 - Cashflow
05-06 06-07 07-08 08-09 09-10 10-11
Net cashflow #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net c -110 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
£ 000
05-06 06-07 07-08 08-09 09-10 10-11
Net bo 58.5 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net pr -1.1 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Gross 41.6 39.9 40.1 41.3 41.0 41.0
Tradin na #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
05-06 06-07 07-08 08-09 09-10 10-11
Annua 2.4 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Curren 1.1 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Intere na #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Times
05-06 06-07 07-08 08-09 09-10 10-11
Trade 45.0 50.7 46.1 44.2 45.0 45.0
Stock 48.9 31.9 36.2 37.9 38.0 38.0
Trade 32.8 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Years ending 06-07 06-07 06-07 06-07 07-08 07-08 07-08 07-08 08-09 08-09 08-09 08-09 05-06 06-07 07-08 08-09 09-10 10-11
Sep 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr Year Year Year Year Year Year
PROFIT & LOSS ACCOUNTS £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000
Sales 920 1,085 1,265 1,410 1,688 1,519 1,686 1,849 1,941 1,906 2,082 2,116 2,313 4,680 6,742 8,044 9,251 10,176
Cost of sales 548 641 764 860 1,017 911 1,009 1,104 1,148 1,121 1,218 1,232 1,350 2,814 4,041 4,719 5,458 6,004
Gross profit 372 444 501 550 671 607 677 745 792 785 864 883 963 1,866 2,700 3,325 3,793 4,172
Overhead costs 519 524 530 532 474 485 496 507 528 539 555 566 990 2,106 1,962 2,188 2,400 2,600
Trading profit (147) (81) (29) 17 197 122 181 238 264 246 309 317 (27) (240) 738 1,137 1,393 1,572
Less: Bad debts 5 5 6 7 9 10 11 12 13 14 15 16 5 23 42 58 40 45

Less: Depreciation 36 44 46 71 43 44 50 49 49 55 53 53 50 197 186 211 234 275
Less: Op. lease & HP payments 17 17 17 17 18 18 18 18 18 18 18 18 45 66 72 72 80 90
Plus: Profit (loss) sale of fixed a 20 0 0 80 0 60 0 65 0 0 150 0 0 100 125 150 85 0
Plus: Revenue grants receivable 0 30 30 0 30 0 0 0 0 0 0 0 125 60 30 0 25 0
Operating profit (185) (117) (68) 3 157 111 102 224 184 159 373 230 (2) (367) 594 946 1,148 1,162
Less: Interest payable #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 57 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Less: Finance lease charges 15 28 28 13 10 10 10 10 10 10 10 10 55 83 40 40 30 30
Less: Amort. intang. & invest. w/ 15 15 15 15 2 0 0 0 0 0 0 0 0 60 2 0 0 0
Plus: Interest receivable #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 2 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Plus: Capital grant amortisation 11 12 11 15 6 6 8 7 7 7 7 7 13 49 28 28 26 24
Plus: Miscellaneous income 30 30 30 30 30 30 30 30 30 30 30 30 75 120 120 120 200 230
Net profit before tax #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! (25) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Corporation tax #VALUE! #VALUE! #VALUE! #VALUE! - - - #VALUE! - - - #VALUE! 0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Profit after tax #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! (25) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Dividends declared 0 0 0 0 0 0 0 0 0 50 0 75 0 0 0 125 150 140
Transferred to reserves #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! (25) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Years ending 06-07 06-07 06-07 06-07 07-08 07-08 07-08 07-08 08-09 08-09 08-09 08-09 06-07 07-08 08-09 09-10 10-11
Sep 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr Year Year Year Year Year
CASHFLOW STATEMENTS £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000
Net cash inflow from operating activities #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
(See Note below)
Returns on investments & servicing of financ
Interest received #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Interest paid #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Finance lease charges (15) (28) (28) (13) (10) (10) (10) (10) (10) (10) (10) (10) (83) (40) (40) (30) (30)
Dividends paid 0 #VALUE! 0 0 0 0 0 0 0 0 (50) 0 #VALUE! 0 (50) #VALUE! #VALUE!
Miscellaneous income 30 30 30 30 30 30 30 30 30 30 30 30 120 120 120 200 230
Net cash inflow from returns on #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
investments & servicing of finance
Taxation:
Corporation tax paid 0 0 0 0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 0 #VALUE! #VALUE! #VALUE! #VALUE!
Tax paid 0 0 0 0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 0 #VALUE! #VALUE! #VALUE! #VALUE!
Investing activities:
Purchases of fixed assets #VALUE! 0 0 (500) 0 0 (250) 0 0 (50) (175) 0 #VALUE! (250) (225) #VALUE! #VALUE!
Purchases of intang. & new invest. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Sales of fixed assets 25 0 0 100 0 75 0 75 0 0 175 0 125 150 175 100 0
Net cash outflow from investing activities #VALUE! 0 0 (400) 0 75 (250) 75 0 (50) 0 0 #VALUE! (100) (50) #VALUE! #VALUE!
Net cash inflow before financing #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Financing:
Issue of shares 25 0 300 0 0 200 0 0 0 0 0 0 325 200 0 0 0
New long-term loans & debt 50 125 250 250 0 150 0 0 0 200 0 0 675 150 200 50 50
Repayments of long-term loans & debt (25) (25) (25) (50) (25) (25) (25) (25) (50) (25) (25) (50) (125) (100) (150) 0 0
Finance lease capital payments (30) (48) (48) (18) (10) (10) (10) (10) (10) (10) (10) (10) (144) (40) (40) (50) (50)
Grants received 35 #VALUE! 57 0 50 30 60 0 0 0 0 0 #VALUE! 140 0 #VALUE! #VALUE!
Net cash inflow from financing 55 #VALUE! 534 182 15 345 25 (35) (60) 165 (35) (60) #VALUE! 350 10 #VALUE! #VALUE!
Increase (decrease) in cash #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Closing net cash balance (deficit) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Note: Reconciliation of operating profit to
net cash inflow from operating activities.
Operating profit (185) (117) (68) 3 157 111 102 224 184 159 373 230 (367) 594 946 1,148 1,162
Depreciation 36 44 46 71 43 44 50 49 49 55 53 53 197 186 211 234 275
Profit (loss) on sale of fixed assets (20) 0 0 (80) 0 (60) 0 (65) 0 0 (150) 0 (100) (125) (150) (85) 0
Increase in stocks (16) (31) (31) (21) (109) 35 (90) (96) (97) 14 (69) (13) (99) (259) (166) (128) (96)
Increase in debtors (131) (97) (87) (50) (127) 78 (77) (75) (42) 16 (81) (15) (365) (201) (123) (167) (114)
Increase in creditors #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Other adjustments:
Revenue grants (eliminates double counti 0 (30) (30) 0 (30) 0 0 0 0 0 0 0 (60) (30) 0 (25) 0
Prepayments & accruals (10) 0 0 0 5 0 0 0 0 0 0 0 (10) 5 0 0 0
PAYE etc #VALUE! 6 4 4 0 0 0 0 0 0 0 0 #VALUE! 0 0 0 0
VAT #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! (9) (16) 42 (0) (24) 50 (13) #VALUE! #VALUE! 13 8 14
Net cash inflow from operating activities #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Years ending 05-06 06-07 06-07 06-07 06-07 07-08 07-08 07-08 07-08 08-09 08-09 08-09 08-09 05-06 06-07 07-08 08-09 09-10 10-11
Sep Year 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr Year Year Year Year Year Year
BALANCE SHEETS £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000
Fixed assets @ cost 1,050 1,040 1,250 1,700 1,710 1,710 1,745 1,995 1,970 1,970 2,195 2,135 2,135 1050 1710 1970 2135 2550 2950
Accumulated depreciation 225 256 300 346 397 440 474 523 558 607 662 680 734 225 397 558 734 948 1223
Fixed assets @ WDV 825 784 950 1,354 1,313 1,270 1,271 1,472 1,412 1,363 1,533 1,455 1,401 825 1313 1412 1401 1602 1727
Intang. assets & invest. @ WDV 70 55 40 25 10 8 8 8 8 8 8 8 8 70 10 8 8 8 8
Current assets:
Stocks 310 326 357 389 409 518 483 573 669 766 752 821 835 310 409 669 835 963 1,059
Trade debtors 285 416 513 600 650 777 699 776 851 893 877 958 974 285 650 851 974 1,140 1,255
Prepayments 75 65 65 65 65 60 60 60 60 60 60 60 60 75 65 60 60 60 60
Grants 35 0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 35 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
VAT recoverable/receivable 25 #VALUE! #VALUE! #VALUE! #VALUE! 0 0 0 0 0 0 0 0 25 #VALUE! 0 0 0 0
Cash at bank 10 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 10 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Total current assets 740 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 740 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

Overdraft 120 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 120 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Trade & sundry creditors 210 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 210 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Other creditors:
Capex creditors 45 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 45 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
PAYE etc 25 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 25 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
VAT due to State 20 #VALUE! #VALUE! #VALUE! #VALUE! 97 89 73 116 116 92 142 129 20 #VALUE! 116 129 136 150
Corporation tax 0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Dividends 0 0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Accruals 30 10 10 10 10 10 10 10 10 10 10 10 10 30 10 10 10 10 10
Other creditors-within 1 year:
Longterm debt 100 56 50 106 163 313 300 288 275 263 350 338 325 100 163 275 325 325 325
Other loans 25 10 35 35 30 50 99 99 99 91 91 91 83 25 30 99 83 99 116
Finance lease obligations 90 18 67 52 47 44 59 56 53 50 47 44 41 90 47 53 41 56 71
Total current liabilities 665 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 665 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net current assets 75 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 75 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Total assets less curr liabilities 970 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 970 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

Longterm debt 100 169 150 319 488 313 300 288 275 263 350 338 325 100 488 275 325 325 325
Other loans 25 40 140 140 120 101 201 201 201 184 184 184 168 25 120 201 168 201 235
Finance lease obligations 0 42 155 122 109 102 137 130 123 116 109 102 95 0 109 123 95 130 165

Government grants 230 219 234 303 288 282 335 328 320 313 306 299 293 230 288 320 293 266 242
Net assets 615 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 615 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Share capital & premium account 850 875 875 1,175 1,175 1,175 1,375 1,375 1,375 1,375 1,375 1,375 1,375 850 1,175 1,375 1,375 1,375 1,375
Reserves (235) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! (235) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Shareholders' funds 615 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 615 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
CHECK balance sheets balance - 0.000 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 0.000 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Years ending 06-07 06-07 06-07 06-07 07-08 07-08 07-08 07-08 08-09 08-09 08-09 08-09 05-06 06-07 07-08 08-09 09-10 10-11
Sep 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr Year Year Year Year Year Year
PERFORMANCE REVIEW (Annualised where appropriate)
As % total sales:
-Gross profit 40.5 40.9 39.6 39.0 39.7 40.0 40.2 40.3 40.8 41.2 41.5 41.7 41.6 39.9 40.1 41.3 41.0 41.0
-Trading profit (16.0) (7.4) (2.3) 1.2 11.7 8.1 10.7 12.9 13.6 12.9 14.8 15.0 (1.2) (5.1) 11.0 14.1 15.1 15.4
-Net profit before tax ### ### ### ### ### ### ### ### ### ### ### ### (1.1) ### ### ### ### ###
-Research & development 6.8 5.8 5.0 4.5 3.6 4.0 3.6 3.2 3.6 3.7 3.6 3.5 8.6 5.4 3.6 3.6 na na
-Selling/distribution expenses 15.2 13.3 11.9 10.8 5.9 6.8 6.3 5.9 5.8 6.0 5.7 5.7 8.6 12.6 6.2 5.8 na na
Projected sales as % breakeven 72 85 94 103 141 125 136 147 150 146 156 156 97 89 138 152 158 160
Number of employees 86 100 108 116 150 132 143 154 158 152 163 163 - 116 154 163 168 170
Changes over previous year (%):

-Sales - - - - 83 40 33 31 15 26 23 14 - 102 44 19 15 10
-Net profit before tax - - - - ### ### ### ### ### ### ### ### - ### ### ### ### ###
-Retained earnings - - - - ### ### ### ### ### ### ### ### - ### ### ### ### ###
-Shareholders' funds - - - - ### ### ### ### ### ### ### ### - ### ### ### ### ###
-Dividends per share - - - - - - - - - - - - - na na na 20 (7)
-Earnings per share - - - - - - - - - - - - - ### ### ### ### ###
Trading profit/capital employed (% pa) ### ### ### ### ### ### ### ### ### ### ### ### na ### ### ### ### ###
Operating profit/capital employed (% pa ### ### ### ### ### ### ### ### ### ### ### ### na ### ### ### ### ###
Return on shareholders'funds (% pa) ### ### ### ### ### ### ### ### ### ### ### ### (4.0) ### ### ### ### ###
Annual sales/capital employed (times) ### ### ### ### ### ### ### ### ### ### ### ### 2.4 ### ### ### ### ###
Annual sales/fixed assets (times) 4.7 4.6 3.7 4.3 5.3 4.8 4.6 5.2 5.7 5.0 5.7 6.0 2.8 3.6 4.8 5.7 5.8 5.9
Net borrowings as percentage of

shareholders' funds ### ### ### ### ### ### ### ### ### ### ### ### 59 ### ### ### ### ###
Interest cover (times) ### ### ### ### ### ### ### ### ### ### ### ### na ### ### ### ### ###
Current asset ratio (times) ### ### ### ### ### ### ### ### ### ### ### ### 1.1 ### ### ### ### ###
Trade debtor days 41 43 43 42 42 42 42 42 42 42 42 42 45 51 46 44 45 45

Stock days 32 30 28 26 28 29 31 33 36 36 36 36 49 32 36 38 38 38
Trade creditor days ### ### ### ### 28 28 28 28 28 28 28 28 33 ### ### ### ### ###
Cumulative issued shares (000s) 515 515 615 615 615 665 665 665 665 665 665 665 500 615 665 665 665 665
Net assets per share (£) ### ### ### ### ### ### ### ### ### ### ### ### 1.23 ### ### ### ### ###
Earnings per share (£) - - - - - - - - - - - - (0.05) ### ### ### ### ###
Dividend per share (£) - - - - - - - - - - - - 0.00 0.00 0.00 0.19 0.23 0.21
Dividend cover (times) - - - - - - - - - - - - na na na ### ### ###
Unregistered version
TEXTUAL SUMMARY REPORT

Date prepared: 24-Jun-20
The following three operational & financial reports for ANY COMPANY LTD cover
the months and years commencing in Oct 2006. They have been derived
from the detailed assumptions in Exl-Plan's Monthly, Quarterly and Annual
Reports.
1. FIRST-YEAR OPERATIONAL REPORT - ANY COMPANY LTD
This First-Year Operational Report covers the twelve months to end Sep 2007
based on detailed monthly projections and assumptions.
The following table summarises quarterly sales projections for the year:
Quarter Ends in Year to Sep 2007 Annual

Sales 1 Qtr 2 Qtr 3 Qtr 4 Qtr Total
£000 £000 £000 £000 £000
Product Group:
- Product A 305.0 330.0 370.0 430.0 1,435.0
- Product B 160.8 231.2 308.2 341.7 1,041.9
- Service A 79.2 113.9 151.8 168.3 513.2
- Service B 30.0 30.0 30.0 30.0 120.0
- Exports 60.0 60.0 60.0 60.0 240.0
- Spares 285.0 320.0 345.0 380.0 1,330.0
Total sales 920.0 1,085.0 1,265.0 1,410.0 4,680.0
% Quarterly changes NA 17.9 16.6 11.5
Fig. 1 - Sales Analysis

160
140
£ 000
Prod
120 uct
100 A
Prod
80 uct
B
60
Serv
40 ice
A
20 Serv
0 ice
Oct Nov Dec Jan Feb Mar Apr May B
12 months commencing in OctJun
2006 Jul Aug Sep
Projected stock levels for the four quarters are as follows:
Opening Quarter Ends in Year to Sep 2007

Stocks Levels 1st 2nd 3rd 4th
£000 £000 £000 £000 £000
Finished goods 170.0 185.9 217.4 248.6 269.3

Materials/goods 140.0 140.0 140.0 140.0 140.0
Total stocks 310.0 325.9 357.4 388.6 409.3
The projected average materials/goods cost percentages for the four quarters are
as follows:
Quarterly Averages for Year to Sep 2007 Annual

Product Groups 1st 2nd 3rd 4th Averages
% Sales % Sales % Sales % Sales % Sales
Product A 37.6 35.0 39.5 36.4 37.1

Product B 42.6 40.5 39.5 38.7 39.9
Service A 45.6 42.6 41.6 40.7 42.1
Service B 41.3 40.0 40.0 40.0 40.3
Exports 38.7 40.0 40.0 40.0 39.7
Spares 35.0 36.5 35.9 35.8 35.8
Based on Cost of Materials (Assumption Report No. 2) as % Sales (Report No. 1)
The projected manning levels at quarter ends are as follows:
Quarter Ends in Year to Sep 2007

Functions 1st 2nd 3rd 4th
Nos Nos Nos Nos
Direct:
- Product A 12 15 18 21
- Product B 11 13 14 16
- Service A 5 10 10 10
- Service B 1 1 1 1
- Exports 2 3 4 4
- Spares 10 13 16 19
Total direct 41 55 63 71
Indirect 10 10 10 10
Supervision etc. 5 5 5 5
Salesforce 5 5 5 5
Clerical 10 10 10 10
Management 10 10 10 10
Research & development 5 5 5 5
Total manpower 86 100 108 116
Direct, indirect and overhead costs are summarised below.
Quarters in Year to Sep 2007 Annual

Cost Analysis 1st 2nd 3rd 4th Total
£000 £000 £000 £000 £000
Materials/packaging/goods 344.7 390.7 471.6 516.8 1,723.8

Direct labour 123.0 152.7 184.6 219.2 679.5
Other direct 80.1 98.0 108.1 124.5 410.6
Total Cost of sales 547.8 641.4 764.3 860.4 2,813.8
Operational overheads 96.0 96.0 96.0 96.0 384.0
Selling & distribution 140.0 144.8 150.5 153.0 588.1
Management/admin staff 150.0 150.0 150.0 150.0 600.0
Research & development 63.0 63.0 63.0 63.0 252.0
Administration 27.0 27.0 27.0 27.0 108.0
Establishment & general 43.5 43.5 43.5 43.5 174.0
Total overhead costs 519.5 524.3 530.0 532.5 2,106.1
Total direct & indirect costs 1,067.2 1,165.6 1,294.2 1,392.9 4,919.9
Fig. 3 - Cost Analysis

140
Establishme
120 nt & general
Administratio
100 n
Research &
80 development
As % sales
Management
60 /admin staff
Selling &
40 distribution
Operational
20 overheads
Cost of sales
0
Proposed capital expenditure (excluding finance leasing) is summarised in the next table.

Capital Expenditure 1st 2nd 3rd 4th Total
£000 £000 £000 £000 £000
Land & Buildings 0.0 0.0 150.0 0.0 150.0

Plant, Machinery etc. 0.0 0.0 150.0 0.0 150.0
Computers & Equipment 0.0 0.0 150.0 0.0 150.0
Motor Vehicles 0.0 0.0 0.0 50.0 50.0
Total capital expenditure 0.0 0.0 450.0 50.0 500.0
Changes in loan finance and capital leasing additions are summarised below

Loans & Finance Leasing 1st 2nd 3rd 4th Total
£000 £000 £000 £000 £000
Increase in longterm loans 50.0 0.0 250.0 250.0 550.0

Longterm loan repayments 25.0 25.0 25.0 25.0 100.0
Net changes in longterm loans 25.0 (25.0) 225.0 225.0 450.0
Increases in 'other loans' 0.0 125.0 0.0 0.0 125.0

'Other loan' repayments 0.0 0.0 0.0 25.0 25.0
Net changes in 'other loans' 0.0 125.0 0.0 (25.0) 100.0
Increases in finance leases 0.0 210.0 0.0 0.0 210.0

Finance lease repayments 30.0 48.0 48.0 18.0 144.0
Net changes in capital leases (30.0) 162.0 (48.0) (18.0) 66.0
Net changes in loans & leases (5.0) 262.0 177.0 182.0 616.0
Other significant transactions during the year include the following:

Other Transactions 1st 2nd 3rd 4th Total
£000 £000 £000 £000 £000
Revenue grants receivable 0.0 30.0 30.0 0.0 60.0

Capital grants receivable 0.0 27.0 80.3 0.0 107.3
Proceeds of share issues 25.0 0.0 300.0 0.0 325.0
Proceeds of fixed asset sales 25.0 0.0 0.0 100.0 125.0
Purchases of intang. & new invest. 0.0 0.0 0.0 0.0 0.0
Dividends declared 0.0 0.0 0.0 0.0 0.0
2. FIRST-YEAR FINANCIAL REPORT - ANY COMPANY LTD
This First-Year Financial Report covers the twelve months to end Sep 2007
based on detailed monthly projections and assumptions.

600
500
Total
400 sales
Gross
300 profit
£ 000
Tradin
200 g
profit
100 Net
profit
before
0
tax
-100
The following table analyses sales and gross profit margins by

main product group for the full year:
Total Gross Gross

Year to end Sep 2007 Sales Profit Profit
£000 £000 % Sales
Product Group:
- Product A 1,435.0 604.7 42.1
- Product B 1,041.9 378.0 36.3
- Service A 513.2 153.9 30.0
- Service B 120.0 50.4 42.0
- Exports 240.0 82.8 34.5
- Spares 1,330.0 596.3 44.8
Total 4,680.0 1,866.2 39.9
The projected overall gross profit margin is 40%.
Based on projected sales of £4680 000, ANY COMPANY LTD

#VALUE!
The following table analyses these projections:
Year to end Sep 2007 £000 % Sales

Sales 4,680.0 100
Cost of sales 2,813.8 60
Gross Profit 1,866.2 40
Overheads:
-Operational 384.0 8
-Selling & distribution 588.1 13
-Management/admin staff 600.0 13
-Research & development 252.0 5
-Administration 108.0 2
-Establishment & general 174.0 4
Total overhead costs 2,106.1 45
Trading profit (239.9) (5)
Less: Bad debts 23.4 1
Depreciation 197.2 4
Amort. intang. & invest. w/ds 60.0 1
Interest payable #VALUE! #VALUE!
Finance lease charges 82.5 2
Operating lease & HP payments 66.0 1
Plus: Interest receivable #VALUE! #VALUE!
Other income 120.0 3
Revenue grants receivable 60.0 1
Capital grant amortisation 49.1 1
Profit(loss) sale of F Assets 100.0 2
Net profit before tax #VALUE! #VALUE!
#VALUE!
#VALUE!
#VALUE!
The next table compares the projected results with those for
the previous year which ended in Sep 2006.
Years ending: Sep 2006 Sep 2007 Change

£000 £000 %
Sales 2,313.0 4,680.0 102

Cost of sales 1,350.0 2,813.8 108
Gross profit 963.0 1,866.2 94
Overheads 990.0 2,106.1 113
Trading profit (27.0) (239.9)
Depn., interest etc. 2.5 #VALUE! #VALUE!
Net profit before tax (24.5) #VALUE! #VALUE!
Tax 0.0 #VALUE! #VALUE!
Profit after tax (24.5) #VALUE! #VALUE!
Dividends 0.0 0.0
Retained (24.5) #VALUE! #VALUE!
This indicates that sales could increase by £2367 000 while

#VALUE!
The following table summarises cashflows for the year by quarter.

Cashflows 1st 2nd 3rd 4th Total
£000 £000 £000 £000 £000
Total cash inflow #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

Total cash outflow #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net cashflow #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Closing cash balances (overdraft) #VALUE! #VALUE! #VALUE! #VALUE!
Fig. 5 - Cashflow
12
10
Net
cashflow
8
Net cash
£ 000
6 balance
0
Oct Nov Dec 12 months
Jan Feb commencing in OctJun
Mar Apr May 2006 Jul Aug Sep
The following key assumptions regarding rates etc. were used

in compiling the projections for the year to end Sep 2007.
Items Value Basis

Employment:
Direct 53.3 Avg monthly numbers
All other 45.0 Avg monthly numbers
Bad debts 0.5 As percent sales
Depreciation:
Land & Buildings 3.0 Annual % rates
Plant, Machinery etc. 10.0 Annual % rates
Computers & Equipme 25.0 Annual % rates
Motor Vehicles 25.0 Annual % rates
Interest rates (% pa):
Cash at bank 4.0 Monthly average
Overdraft 13.5 Monthly average
Longterm debt 12.5 Monthly average
Working capital:
Debtor days 51 Based on full-yr sales
Stock days 32 Based on full-yr sales
Creditor days #VALUE! Based on full-yr sales
Composite VAT rates (%):
Sales 13.6 Effective overall rate
Inputs #VALUE! Effective overall rate
The following key ratios have been derived from the 12-month
projections for the year ending Sep 2007:
Max/Min Full Year

Ratios Monthly or Year End
Profitability:
Gross profit margin (%) 42.3 Max Value 39.9
Net profit margin (%) #VALUE! Max Value #VALUE!
Current asset ratio (times) #VALUE! Min Value #VALUE!
Debt/equity (%) #VALUE! Max Value #VALUE!
Sales/capital employed (times) #VALUE!

Trading profit/capital employed (%) #VALUE!
Projected sales as % breakeven 89
This table indicates that the following financial indicators

derived from the detailed projections, may be out-of-line with
generally-accepted norms:
#VALUE!
#VALUE!
#VALUE!
#VALUE!
3. FIVE-YEAR FINANCIAL REPORT - ANY COMPANY LTD
This Financial Report covers the five years to the end of Sep 2011. It has
been based on detailed monthly projections for the first year and
quarterly/full-year projections for the following years.
The following table summarises the projected trading performance:
Years to end Sep 05-06 06-07 07-08 08-09 09-10 10-11

Act/Est Proj Proj Proj Proj Proj
£000 £000 £000 £000 £000 £000
Sales 2,313 4,680 6,742 8,044 9,251 10,176

Cost of sales 1,350 2,814 4,041 4,719 5,458 6,004
Gross profit 963 1,866 2,700 3,325 3,793 4,172
Overheads 990 2,106 1,962 2,188 2,400 2,600
Trading profit (27) (240) 738 1,137 1,393 1,572
Depn., interest etc. 3 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net profit before tax (25) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Tax 0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Profit after tax (25) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Dividends 0 0 0 125 150 140
Retained (25) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
For the first three years under review, sales should change by 248%
#VALUE!
For the fifth year, sales should reach £10176 000 and projected
#VALUE!

12,000
10,000
Sales
8,000
Gross
profit
6,000
Tradin
£ 000
g profit
4,000
Net
profit
2,000 before
tax
0
05-06 06-07 07-08 08-09 09-10 10-11
-2,000 Years commencing Oct
The projected cashflows for ANY COMPANY LTD during the years
under review are summarised below:
Years to end Sep 06-07 07-08 08-09 09-10 10-11

Proj Proj Proj Proj Proj
£000 £000 £000 £000 £000
Net cashflows from:
Operations #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Investments & servicing
of finance #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Taxation 0 #VALUE! #VALUE! #VALUE! #VALUE!
Investing activities #VALUE! (100) (50) #VALUE! #VALUE!
Financing #VALUE! 350 10 #VALUE! #VALUE!
Increase (decr) cash #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
#VALUE!
#VALUE!
Fig. 16 - Cashflow
0
05-06 06-07 07-08 08-09 09-10 10-11
(20)
(40)
Net
£ 000
(60) cashflow
Net cash
(80) balance
(100)
(120)
The next table shows the projected balance sheets.
Years to end Sep 05-06 06-07 07-08 08-09 09-10 10-11

Act/Est Proj Proj Proj Proj Proj
£000 £000 £000 £000 £000 £000
Fixed/intang. assets 895 1,323 1,420 1,409 1,610 1,735
Current assets:
Cash 10 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Other 730 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Total Current Assets 740 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Current liabilities:
Overdraft 120 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Other 545 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Total Current Liabiliti 665 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net current assets 75 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

Creditors after one year 355 1,005 920 880 922 967
Capital employed 615 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Share capital 850 1,175 1,375 1,375 1,375 1,375

Reserves (235) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Shareholders' funds 615 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
#VALUE!
#VALUE!
The overall projected performance of ANY COMPANY LTD for the years
under review is assessed in the following table:
Years to end Sep 06-07 07-08 08-09 09-10 10-11

Proj Proj Proj Proj Proj
Gross profit margin (%) 39.9 40.1 41.3 41.0 41.0

Net profit margin (%) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Sales as % breakeven 89 138 152 158 160
Trading profit/cap employed (%) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

Sales/capital employed (times) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net borrowings as percent
shareholder funds (Max=200%) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net assets per share (£) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Earnings per share (£) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Dividend per share (£) 0.00 0.00 0.19 0.23 0.21
This table indicates that the following financial ratios may be
out-of-line with generally accepted norms for one or more years:
#VALUE!
#VALUE!
#VALUE!
Fig. 17 - Key Indicators Net

45.0 70.0 profit
40.0 margin
60.0 (%)
35.0
30.0 50.0 Gross
Percentage (%)
Percentage (%)
25.0 profit
40.0 margin
20.0 (%)
15.0 30.0
Trading
10.0 20.0 profit as
5.0 %
10.0 capital
0.0 employe
05-06 06-07 07-08 08-09 09-10 10-11 d
-5.0 0.0
Quik-Plan Assumptions
1.
2.
3.
4.
Quik-Plan Assumptions Report

Year in which to start projections 2006 Enter as 4 digits - like 200X
Month for start of the projections 9 Enter month number - between 1 to 12
Currency unit 000 Enter "000 (thousands - note the ' before 000), Mln (millions) or Bn (billions)
Currency symbol £ Enter up to 3 characters as label and press F9 to update the units below
Assumptions for First Year
Variables Values Units (Press F9 to Update) Guidance
Average monthly sales 420.0 £000s Enter sales value net of sales taxes and discounts.
Desired finished stocks 90.0 % of sales Express as % average monthly sales. Set to zero for a distribution
or service business.
Cost of materials/goods 41.0 As % sales } Set to zero for a labour-only service business. These can refer to
Target materials/goods stocks 195.0 £000s } purchases/stocks for resale if a distribution business.
Average monthly direct costs 110.0 £000s May be zero in case of a distribution business.
Average monthly overheads 100.0 £000s Exclude depreciation & interest.
Opening total cost of fixed assets 1,300.0 £000s Use cost at the start date of projections, not the written-down value.
Accumulated opening depreciation 350.0 £000s
Average depreciation rate 8.0 % p.a. Use approximate weighted-average rate covering all fixed assets.
Planned capital expend. for year 175.0 £000s
Average tax rate for all sales 15.0 % Use weighted-average rate which takes account of any exports etc.
Average tax rate for all inputs 12.0 % Use a weighted-average rate which includes non-taxable inputs.
Interval between tax payments 3 Months Enter a monthly interval - use 1, 2 or 3.
Interest rate for cash balances 6.0 % p.a. Use approximate weighted-average rate.
Interest rate for overdraft/loans 12.0 % p.a. Use approximate weighted-average rate.
Opening cash balance (100.0) £000s Enter an overdraft as a minus value.
Opening longterm loans 450.0 £000s Combine value of all outstanding long-term loans.
Net change in longterm loans in yr 125.0 £000s Use + for a net increase and - for a net reduction during the year.
Expected grant receipts for year 30.0 £000s Could refer to revenue or capital grants, subsidies or equivalents.
Opening trade & other debtors 700.0 £000s As at start date of projections. Exclude expected bad debts.
Opening trade & other creditors 500.0 £000s As at start date of projections. Include any other planned payments.
Average credit given on sales 61 Days sales Use estimate which takes any cash sales into account.
Average credit taken for materials/goods 46 Days sales Estimate should take account of any suppliers which give no credit.
Expected corporation tax rate 35.0 % Use the effective, rather than standard, rate.
Planned dividend for year 50.0 £000s Indicate dividends declared
Opening number of shares 100.0 000s Indicate issued shares only
Proceeds of new share issues 100.0 £000s Specify proceeds net of all fund-raising costs
Number of new shares issued 12.0 000s This number will be added to the opening number of shares
Assumptions for Following Years
Variables 2nd Yr 3-5 Yrs (Enter annual averages) Guidance
% annual change - sales 5.0 10.0 % change over previous year. Allow for volume or price changes.
Cost of materials/goods 42.0 43.0 As % sales. This should be consistent with % used for the first year.
% annual change - direct costs 4.0 7.0 } % changes over previous year. Take account of any changes in
% annual change - overheads 5.0 9.0 } sales volumes, cost inflation and productivity.
Planned capital expenditure 100.0 190.0 £000s. Average per year.

Net change in longterm loans 70.0 100.0 £000s. Average per year. Use + for net increase & - for net reduction.
Expected grant receipts 10.0 15.0 £000s. Average per year.
Expected corporation tax rate 30.0 35.0 %. Use the effective, not standard, rates.
Planned dividends 70.0 90.0 £000s. Average per year.
Proceeds of new share issues 150.0 £000s Specify proceeds net of costs.
Number of new shares issued 10.0 000s Indicates numbers of shares.
SENSITIVITY ANALYSIS FACTORS REPORT

Months for First Year: Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
% Incr(+) or decr (-) sales volumes ->> 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
% Incr(+) or decr (-) selling prices ->>
% Incr(+) or decr (-) matl/goods costs ->>
% Incr(+) or decr (-) overhead costs ->>
Quarters for Three/Five* Years: 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr 1 Qtr 2 Qtr 3 Qtr 4 Qtr
% Incr(+) or decr (-) sales volumes ->> 0.0 0.0 0.0 0.0
% Incr(+) or decr (-) selling prices ->> 0.0 0.0 0.0 0.0
% Incr(+) or decr (-) matl/goods costs ->> 0.0 0.0 0.0 0.0
% Incr(+) or decr (-) overhead costs ->> 0.0 0.0 0.0 0.0
Enter percentage increases or * For fourth & fifth years, sales volumes and prices are adjusted automatically based on the
decreases as desired and percentages used for 9-12 quarters. Changes in material and overhead cost assumptions
recalculate. are based on percentages specified for the fourth quarter of the third year.
What-If Analysis for First-Year Projections

The following tables explore the variability of projected first-year operating profits (see M_PL worksheet) based on variations in sales
volumes, sales prices, cost of sales and overhead costs. They are automatically updated whenever the Exl-Plan model is recalculated.
To use this facility, first-year projections must be complete (but not necessarily final).
Table 1 - Calculated Operating Profits (£000) for Year-Ending Sep 2007

Variations in Sales Volumes
-15% -10% -5% Base +5% +10% +15%
-15% -1,243.2 -1,185.0 -1,126.8 -1,068.6 -1,010.4 -952.1 -893.9
Variations -10% -1,044.3 -974.4 -904.5 -834.6 -764.7 -694.7 -624.8
in -5% -845.4 -763.8 -682.2 -600.6 -519.0 -437.3 -355.7
Sales Base -646.5 -553.2 -459.9 -366.6 -273.3 -179.9 -86.6
Prices +5% -447.6 -342.6 -237.6 -132.6 -27.6 77.5 182.5
+10% -248.7 -132.0 -15.3 101.4 218.1 334.9 451.6
+15% -49.8 78.6 207.0 335.4 463.8 592.3 720.7

Note: This analysis assumes that cost of sales are fully variable and that overhead costs remain
fixed irrespective of any sales volume changes.
Example of Interpretation: A 10% reduction in sales volumes plus a 5% increase in sales prices
could result in an operating loss of 342.6 (£000) as compared with the projected base-case
operating loss of 366.6 (£000).
Table 2 - Calculated Operating Profits (£000) for Year-Ending Sep 2007
Variations in Overhead Costs

+15% +10% +5% Base -5% -10% -15%
+15% -1,104.5 -999.2 -893.9 -788.6 -683.3 -578.0 -472.7
Variations +10% -963.9 -858.6 -753.2 -647.9 -542.6 -437.3 -332.0
in +5% -823.2 -717.9 -612.6 -507.3 -401.9 -296.6 -191.3
Cost Base -682.5 -577.2 -471.9 -366.6 -261.3 -155.9 -50.6
of -5% -541.8 -436.5 -331.2 -225.9 -120.6 -15.3 90.0
Sales -10% -401.1 -295.8 -190.5 -85.2 20.1 125.4 230.7
-15% -260.4 -155.1 -49.8 55.5 160.8 266.1 371.4

Note: This analysis assumes that cost of sales and overhead costs can be varied without any
knock-on effects or consequences.
Example of Interpretation: A 10% reduction in overhead costs could improve base-case operating
profits by 210.6 (£000). In contrast, a 10% reduction in cost of sales could improve operating
profits by 281.4 (£000).
Profitability Planner
Currency values expressed as £000
Data relates to year ending Sep 2007.
See instructions below. Return on total assets (Profitability) ###
-16.0%
X
Margin on sales ### Investment turnover ###
-8.8% 1.8
% -/-
Net profit ### Sales 4,680 Sale 4,680 Total assets ###
before tax (410) 4,680 4,680 2,557
__ + +
Sales 4,680 Total costs ### Net fixed 1,313 Intang. 10 Current ###
4,680 5,090 assets 1,313 & invest. 10 assets 1,234
= = = =
Product A 1,435 = Volume 1,435 X Price 1.0 Cost of sales 2,814 Land & Buildings 584 Cash ###
1,435 1,435 1.0 2,814 584 0
+ + + +
Product B 1,042 = Volume 1,042 X Price 1.0 Overheads 2,106 Plant, Machinery 341 Stocks 409
1,042 1,042 1.0 2,106 341 409
+ + + +
Service A 513 = Volume 513 X Price 1.0 Net interest ### Computers & Equ 280 Debtors 650
513 513 1.0 70 280 650
+ + + +
Service B 120 = Volume 120 X Price 1.0 Depreciation 197 Motor Vehicles 107 Other ###
120 120 1.0 197 107 175
+ +
Exports 240 = Volume 240 X Price 1.0 Other items ###
240 240 1.0 (97)
+
Spares 1,330 = Volume 1,330 X Price 1.0
1,330 1,330 1.0
Instructions:
1. Compile preliminary first-year projections.
2. Press Update Values button to copy all the calculated first-year values (in white cells) into the yellow assumption cells above.
3. Change values in yellow assumption cells individually (or in combinations to take account of interactions). Examples:
- An increase in sale prices might require an increase in debtor levels and possible reduction in sales volumes.
- A substantial increase in sales volumes will require higher cost of sales and might also need additional fixed
assets, higher debtors & stock levels.
4. Press Recalculate Ratios button to update the profitability projection in the yellow cells.
Short-Term Cashflow Projections & Chart

Covering First Three Months % Profile of Monthly Cashflows Oct Nov Dec
in Year to Sep 2007 Week 1 Week 2 Week 3 Week 4 Total Week 1 Week 2 Week 3 Week 4 Week 1 Week 2 Week 3 Week 4 Week 1 Week 2 Week 3 Week 4
% % % % % £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000
Cash Inflows
Total trade debtor receipts (Note 1) 25.0 75.0 100.0 0.0 0.0 44.9 134.8 0.0 0.0 87.4 262.3 0.0 0.0 94.1 282.2
Total grants received (Note 2) 100.0 100.0 0.0 15.0 0.0 0.0 0.0 20.0 0.0 0.0 0.0 0.0 0.0 0.0
Proceeds of share issues 100.0 100.0 0.0 0.0 0.0 0.0 0.0 0.0 25.0 0.0 0.0 0.0 0.0 0.0
Increases in longterm debt 100.0 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 50.0 0.0
Increases in other loans 100.0 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Proceeds from sale of fixed assets 100.0 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 25.0 0.0 0.0
VAT recovered from State 100.0 ### #VALUE! #VALUE! #VALUE! #VALUE! 0.0 0.0 0.0 0.0 #VALUE! #VALUE! #VALUE! #VALUE!
Miscellaneous income received 25.0 25.0 25.0 25.0 100.0 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.5
Interest received 100.0 ### #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Total cash inflow #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Cash Outflows
Materials/goods creditor payments (Note 3) 75.0 25.0 ### #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Total direct cost payments (Note 4) 25.0 25.0 25.0 25.0 ### #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 18.0 18.0 18.0 18.0
Total overhead payments (Note 5) 25.0 25.0 25.0 25.0 ### #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 43.3 43.3 43.3 43.3
Corporation tax payments 100.0 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Dividends paid 100.0 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Finance lease capital payments 100.0 100.0 0.0 0.0 0.0 10.0 0.0 0.0 0.0 10.0 0.0 0.0 0.0 10.0
Finance lease charges paid 100.0 100.0 0.0 0.0 0.0 5.0 0.0 0.0 0.0 5.0 0.0 0.0 0.0 5.0
Total capital expend. payments (Note 6) 100.0 ### #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 0.0 0.0 45.0 0.0
Operating lease & HP payments 25.0 25.0 25.0 25.0 100.0 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4
Longterm debt repayments 100.0 100.0 0.0 0.0 25.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Other loan repayments 100.0 100.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Purchases of intang. & new invest. 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
VAT paid on o/h expense, capex etc. inputs 100.0 100.0 0.0 0.0 16.7 0.0 0.0 0.0 17.0 0.0 0.0 0.0 13.5 0.0
VAT paid to State 100.0 ### #VALUE! #VALUE! #VALUE! #VALUE! 0.0 0.0 0.0 0.0 #VALUE! #VALUE! #VALUE! #VALUE!
Opening PAYE etc. paid 100.0 100.0 0.0 25.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Changes in prepayments 25.0 25.0 25.0 25.0 100.0 (2.5) (2.5) (2.5) (2.5) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Changes in accruals 25.0 25.0 25.0 25.0 100.0 0.0 0.0 0.0 0.0 5.0 5.0 5.0 5.0 0.0 0.0 0.0 0.0
Interest paid 100.0 ### #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Total cash outflow #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net cashflow #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Opening net cash balances (overdraft) (110.0) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Closing net cash balances (overdraft) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Notes refer to Monthly Cashflow Projections (M_CF)
Short-Term Cashflow - 12 Weeks

12
10
6
£000
Net cashflow
4 Closing net cash balance
0
Week 1 Week 2 Week 3 Week 4 Week 1 Week 2 Week 3 Week 4 Week 1 Week 2 Week 3 Week 4
Oct 0 0 0 Nov 0 0 0 Dec 0 0 0

Oct 0 0 0 Nov 0 0 0 Dec 0 0 0
Week 1 Week 2 Week 3 Week 4 Week 1 Week 2 Week 3 Week 4 Week 1 Week 2 Week 3 Week 4
Net cashflow ### ### ### ### ### #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Closing net cash balance ### ### ### ### ### #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Trading Performance Tracker Report & Charts

12 Months to 2006 2006 2006 2007 2007 2007 2007 2007 2007 2007 2007 2007 06-07
end Sep 2007 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Year
£000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000 £000
Sales - Product A:
Projected 100.0 110.0 95.0 115.0 85.0 130.0 105.0 125.0 140.0 145.0 135.0 150.0 1,435.0
Actual (year-to-date) ->> 90.0 100.0 80.0 110.0 90.0 470.0
Combined actual + projected 90.0 100.0 80.0 110.0 90.0 130.0 105.0 125.0 140.0 145.0 135.0 150.0 1,400.0
Projected Full-Year Variance: -2.4%
Sales - Product B:
Projected 33.5 57.0 70.4 77.1 70.4 83.8 93.8 103.9 110.6 107.2 120.6 113.9 1,041.9
Projected Full-Year Variance: 4.7%
Sales - Service A:
Projected 16.5 28.1 34.7 38.0 34.7 41.3 46.2 51.2 54.5 52.8 59.4 56.1 513.2
Combined actual + projected 16.5 15.0 21.0 35.0 26.0 41.3 46.2 51.2 54.5 52.8 59.4 56.1 474.9
Sales - Service B:
Projected 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 10.0 120.0
Sales - Exports:
Projected 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 20.0 240.0
Sales - Spares:
Projected 85.0 105.0 95.0 100.0 110.0 110.0 115.0 110.0 120.0 125.0 120.0 135.0 1,330.0
Total sales:
Projected 265.0 330.0 325.0 360.0 330.0 395.0 390.0 420.0 455.0 460.0 465.0 485.0 4,680.0
Actual (year-to-date) 255.0 323.0 327.0 380.0 354.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1,639.0
Gross profit:
Projected 112.1 125.0 135.2 151.8 129.1 162.7 149.3 168.9 182.5 183.1 178.5 188.0 1,866.2
Overheads costs:
Projected 172.8 173.5 173.2 174.2 174.8 175.3 176.3 176.8 176.9 177.4 177.6 177.6 2,106.1
Net profit before tax:
Projected ### ### ### ### ### ### ### ### ### ### ### ### #VALUE!
Actual (year-to-date) ->> (90.0) (60.0) (30.0) 12.0 (40.0) (208.0)
Combined actual + projected (90.0) (60.0) (30.0) 12.0 (40.0) ### ### ### ### ### ### ### #VALUE!
Projected Full-Year Variance: #VALUE!
Trading Performance Tracker Charts

1,600 1,200
1,400 Sales - Product A: Sales - Product B:

1,000
1,200 Cumulative projected Cumulative projected
£000
£000
Cumulative Cumulative
800
1,000 actual+projected actual+projected
800 600
600
400
400
200
200
06-07
0 06-07
0
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
600 140
Sales - Service A: Sales - Service B:
500 120
Cumulative projected
£000
£000
100 Cumulative
400 actual+projected
80
300
60
200
40
100
20
06-07
0 06-07
0
300 1,600
Sales - Exports: 1,400
Sales - Spares:
250
Cumulative projected 1,200
£000
£000
Cumulative
200 actual+projected
1,000
150 800
600
100
400
50
200
06-07
0 06-07
0
6,000
ANY COMPANY LTDCumulative Actuals for Year-to-Date + Projections for Balance of
5,000 Sales Year
06-07
Gross Profit
4,000
Overhead Costs
3,000 Net Profit
£000
2,000
1,000
0
-1,000

Sales - Product A:
Months Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Cumulative projected 100.0 210.0 305.0 420.0 505.0 635.0 740.0 865.0 1,005.0 1,150.0 1,285.0 1,435.0
Cumulative actual+projected 90.0 190.0 270.0 380.0 470.0 600.0 705.0 830.0 970.0 1,115.0 1,250.0 1,400.0
Sales - Product B:
Cumulative projected 33.5 90.5 160.8 237.9 308.2 392.0 485.8 589.6 700.2 807.4 928.0 1,041.9
Cumulative actual+projected 40.0 100.0 189.0 274.0 357.0 440.8 534.6 638.4 749.0 856.2 976.8 1,090.7
Sales - Service A:
Cumulative projected 16.5 44.6 79.2 117.2 151.8 193.1 239.3 290.4 344.9 397.7 457.1 513.2
Cumulative actual+projected 16.5 31.5 52.5 87.5 113.5 154.8 201.0 252.1 306.6 359.4 418.8 474.9
Sales - Service B:
Sales - Exports:
Sales - Spares:
Cumulative projected 85.0 190.0 285.0 385.0 495.0 605.0 720.0 830.0 950.0 1,075.0 1,195.0 1,330.0
Cumulative actual+projected 100.0 223.0 335.0 460.0 590.0 700.0 815.0 925.0 1,045.0 1,170.0 1,290.0 1,425.0
Cumulative Actual+Projected
Sales 271.5 594.5 921.5 1,301.5 1,655.5 2,050.5 2,440.5 2,860.5 3,315.5 3,775.5 4,240.5 4,725.5
Gross Profit 80.0 210.0 340.0 465.0 585.0 747.7 897.0 1,065.9 1,248.4 1,431.5 1,610.0 1,798.0
Overhead Costs 160.0 320.0 480.0 640.0 800.0 975.3 1,151.6 1,328.4 1,505.3 1,682.6 1,860.2 2,037.7
Net Profit (90.0) (150.0) (180.0) (168.0) (208.0) ### ### ### ### ### ### ###
Long-Term Trend Analysis & Charts

Years: -4 -3 -2 -1 05-06 06-07 07-08 08-09 09-10 10-11
No. of Months in Year: 12 12 12 12 12 12 12 12 12 12
PROFIT & LOSS ACCOUNTS £000 £000 £000 £000 £000 £000 £000 £000 £000 £000
Act Act Act Act Est Proj Proj Proj Proj Proj
Sales 0 200 1,300 2,313 4,680 6,742 8,044 9,251 10,176

Cost of sales 150 1,050 1,350 2,814 4,041 4,719 5,458 6,004
Gross profit 0 0 50 250 963 1,866 2,700 3,325 3,793 4,172
Overhead costs 100 750 990 2,106 1,962 2,188 2,400 2,600
Trading profit 0 0 (50) (500) (27) (240) 738 1,137 1,393 1,572
Less: Bad debts 3 5 23 42 58 40 45

Less: Depreciation 13 40 50 197 186 211 234 275
Less: Op. lease & HP payments 17 45 45 66 72 72 80 90
Plus: Profit (loss) sale of fixed assets 0 100 125 150 85 0
Plus: Revenue grants receivable 300 125 60 30 0 25 0
Operating profit 0 0 (80) (288) (2) (367) 594 946 1,148 1,162
Less: Interest payable 26 43 57 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

Less: Finance lease charges 40 55 83 40 40 30 30
Less: Amort. intang. & invest. w/ds 0 60 2 0 0 0
Plus: Interest receivable 2 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Plus: Capital grant amortisation 13 49 28 28 26 24
Plus: Miscellaneous income 30 75 120 120 120 200 230
Net profit before tax 0 0 (106) (341) (25) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Corporation tax 0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Profit after tax 0 0 (106) (341) (25) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Dividends declared 0 0 0 125 150 140
Transferred to reserves 0 0 (106) (341) (25) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Years: -4 -3 -2 -1 05-06 06-07 07-08 08-09 09-10 10-11
BALANCE SHEETS £000 £000 £000 £000 £000 £000 £000 £000 £000 £000
Act Act Act Act Est Proj Proj Proj Proj Proj
Fixed assets @ cost 1050 1710 1970 2135 2550 2950

Accumulated depreciation 225 397 558 734 948 1223
Fixed assets @ WDV 0 0 0 0 825 1313 1412 1401 1602 1727
Intang. assets & invest. @ WDV 70 10 8 8 8 8
Current assets:
Stocks 310 409 669 835 963 1,059
Trade debtors 285 650 851 974 1,140 1,255
Prepayments 75 65 60 60 60 60
Grants 35 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
VAT recoverable/receivable 25 #VALUE! 0 0 0 0
Cash at bank 10 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Total current assets 0 0 0 0 740 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

Overdraft 120 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Trade & sundry creditors 210 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Other creditors:
Capex creditors 45 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
PAYE etc 25 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
VAT due to State 20 #VALUE! 116 129 136 150
Corporation tax 0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Dividends 0 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Accruals 30 10 10 10 10 10
Other creditors-within 1 year:
Longterm debt 100 163 275 325 325 325
Other loans 25 30 99 83 99 116
Finance lease obligations 90 47 53 41 56 71
Total current liabilities 0 0 0 0 665 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net current assets 0 0 0 0 75 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Total assets less curr liabilities 0 0 0 0 970 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

Longterm debt 100 488 275 325 325 325
Other loans 25 120 201 168 201 235
Finance lease obligations 0 109 123 95 130 165

Government grants 230 288 320 293 266 242
Net assets 0 0 0 0 615 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Share capital & premium account 850 1,175 1,375 1,375 1,375 1,375
Reserves (235) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Shareholders' funds 0 0 0 0 615 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
CHECK balance sheets balance ->> 0.000 0.000 0.000 0.000 0.000 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Years: -4 -3 -2 -1 05-06 06-07 07-08 08-09 09-10 10-11

No. of Months in Year: 12 12 12 12 12 12 12 12 12 12
PERFORMANCE REVIEW Act Act Act Act Est Proj Proj Proj Proj Proj
(All ratios annualised)
Months per year factor 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
As % total sales:
-Gross profit n/a n/a 25.0 19.2 41.6 39.9 40.1 41.3 41.0 41.0
-Trading profit n/a n/a n/a n/a n/a n/a 11.0 14.1 15.1 15.4
-Net profit before tax n/a n/a n/a n/a n/a #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Projected sales as % breakeven n/a n/a 50 33 97 89 138 152 158 160

Number of employees 23 23 23 23 23 116 154 163 168 170
Changes over previous year (%):

-Sales - n/a n/a 550 78 102 44 19 15 10
-Net profit before tax - n/a n/a n/a n/a #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
-Retained earnings - n/a n/a n/a n/a #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
-Shareholders' funds - n/a n/a n/a n/a #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
-Dividends per share - n/a n/a n/a n/a n/a n/a n/a 20 (7)
-Earnings per share - n/a n/a n/a n/a #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Trading profit/capital employed (% pa) n/a n/a n/a n/a n/a #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Operating profit/capital employed (% pa) n/a n/a n/a n/a n/a #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Return on shareholders'funds (% pa) n/a n/a n/a n/a n/a #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Annual sales/capital employed (times) n/a n/a n/a n/a 2.4 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Annual sales/fixed assets (times) n/a n/a n/a n/a 2.8 3.6 4.8 5.7 5.8 5.9
Net borrowings as percentage of

shareholders' funds n/a n/a n/a n/a 59 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Interest cover (times) n/a n/a n/a n/a 0.6 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Current asset ratio (times) n/a n/a n/a n/a 1.1 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Trade debtor days n/a n/a n/a n/a 45 51 46 44 45 45

Stock days n/a n/a n/a n/a 49 32 36 38 38 38
Trade creditor days n/a n/a n/a n/a 33 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Cumulative issued shares (000s) 100 100 100 100 500 615 665 665 665 665
Net assets per share (£) n/a n/a n/a n/a 1.23 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Earnings per share (£) n/a n/a n/a n/a n/a #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Dividend per share (£) n/a n/a n/a n/a n/a n/a n/a 0.19 0.23 0.21
Dividend cover (times) n/a n/a n/a n/a n/a #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Long-Term Trend Charts
12,000
Any Company Ltd - Sales & Profits
10,000
8,000
Sales
6,000 Gross profit

£000
Trading
4,000 profit
2,000 Net profit

before tax
0
-4 -3 -2 -1 05-06 06-07 07-08 08-09 09-10 10-11
(2,000)
0
-4 Any Company
-3 Ltd - Cashflow
-2 -1 05-06 06-07 07-08 08-09 09-10 10-11
(20)
(40)
Net cashflow
£000
(60)
Net cash balance
(deficit)
(80)
(100)
(120)
45 70
Any Company Ltd - Key Indicators
40
60
35
50
30
Percentage (%)
Net profit margin (% sales)

25 40
Gross profit margin (% sales)
20 30
Trading profit as % capital
15
20 employed
10
Net borrow as % shdrs funds
10 (right axis)
5
0 0
-4 -3 -2 -1 05-06 06-07 07-08 08-09 09-10 10-11
3
Any Company Ltd - Financial Ratios
3
2
Sales/capital
employed
Times
2
Current asset
1 ratio
Interest cover
1
0
-4 -3 -2 -1 05-06 06-07 07-08 08-09 09-10 10-11

Any Company Ltd - Sales & Profits
Years: -4 -3 -2 -1 05-06 06-07 07-08 08-09 09-10 10-11
Sales 0 0 200 1,300 2,313 4,680 6,742 8,044 9,251 10,176
Gross profit 0 0 50 250 963 1,866 2,700 3,325 3,793 4,172
Trading profit 0 0 (50) (500) (27) (240) 738 1,137 1,393 1,572
Net profit before tax 0 0 (106) (341) (25) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Any Company Ltd - Cashflow
Years: -4 -3 -2 -1 05-06 06-07 07-08 08-09 09-10 10-11
###
Net cash balance (deficit) 0 0 0 0 (110) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net cashflow n/a 0 0 0 (110) #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Any Company Ltd - Key Indicators
Years: -4 -3 -2 -1 05-06 06-07 07-08 08-09 09-10 10-11
Net profit margin (% sales) n/a n/a n/a n/a n/a #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Gross profit margin (% sales) n/a n/a 25.0 19.2 41.6 39.9 40.1 41.3 41.0 41.0
Trading profit as % capital employed n/a n/a n/a n/a n/a #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net borrow as % shdrs funds (right axis) n/a n/a n/a n/a 59 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Any Company Ltd - Financial Ratios
Years: -4 -3 -2 -1 05-06 06-07 07-08 08-09 09-10 10-11
Sales/capital employed n/a n/a n/a n/a 2.4 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Current asset ratio n/a n/a n/a n/a 1.1 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Interest cover n/a n/a n/a n/a 0.6 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
CHECK BALANCES REPORT

Sub-model: 12-Months 1st Year 12-Qtrs 3-Years Differences
Transfers to reserves for yr 1 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net cashflow for yr 1 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net assets at end yr 1 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Check balances for yr 1 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Transfers to reserves for yr 3 #VALUE! #VALUE! #VALUE!
Net cashflow for yr 3 #VALUE! #VALUE! #VALUE!
Net assets at end yr 3 #VALUE! #VALUE! #VALUE!
Check balances for yr 3 #VALUE! #VALUE! #VALUE!
Total should be ZERO otherwise error in a sub-model Total: #VALUE!
All differences in RH column should be zero (Ignore ***** in any other columns)

EXL-PLAN Super: Excellence in Planning

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EXL-PLAN Super: Excellence in Planning

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This is a trial copy of Exl-Plan. To purchase, see Upgrade worksheet.

Step 5 Option: Modify Quik-Plan's assumptions and re-run

- Work from left to right through assumption worksheets Step 5

Step 8 Especially, see the Textual Summary Report

Step 10 - Do sensitivity analyses & view "what-if" tables

SUMMARY & DIAGNOSIS REPORT - 3 YEARS

2. Visit the Exl-Plan upgrade page at our website at <www.planware.org/exlupgr.htm>

Detailed descriptions: www.planware.org/exldesc.htm

Download trial version www.planware.org/exldown.htm

Code Number: 1050 8756 1570 exlsuk26

VAT Number: Leave blank if located outside European Union (EU).

Tel No: Fax No.:

Payment by credit card (mark a box): Visa Mastercard

Credit card number:

Expiry: Month Year Enter year in full as 200x

Signature of card holder: X Essential if ordering by mail or fax.

Name of card holder:

Address of card holder (if different from address indicated above):

Any special delivery requirements or comments about Exl-Plan:

Change descriptive term for sales or input/output tax: VAT

Total VAT on sales (£000):

Desired finished stocks as % sales for X

Desired finished stocks (000s) units or equivalent sales

Supplementary Data & Calculations:

Finished goods required (000s units

Unit cost of materials/packaging or goods for

Cost of materials/packaging or goods required (£000):

Desired stocks of material/packaging or goods

Purchases of materials/packaging & goods for resale (£000): Total

Supplementary Data & Calculations:

Sales/output per direct person (000s

Direct payroll costs (£000): Total

Allocation of other direct costs on the basis

Direct cost per unit

Cost of sales (£000): Total

Supplementary Data & Calculations:

Management/admin staff overheads: Tot/Avg

Supplementary Data & Calculations:

Sale of fixed assets (£000): Total

Supplementary Data & Calculations:

Various Items Total

Taxes & Dividends

Supplementary Data & Calculations:

Treatment of trade creditors & Months credit given/taken: Total*

Supplementary Data & Calculations:

160 Fig. 1 - Sales Analysis

Fig. 2 - Sales & Profits

12 months commencing in Oct 2006

Fig. 3 - Cost Analysis

120 Establishment &

Fig. 4 - Key Indicators

12 months commencing in Oct 2006

Fig. 7 - Cost of Sales Analysis

Fig. 8 - Gross Profit Contributions

Creditors - within one year:

Creditors - after one year:

Provisions for liabilities etc:

Net borrowings (cash surplus) as percentage

Gross profit breakdown (£000):

Gross profit as % sales:

Sales (000s units or £000):