Profit and Loss Statement

ABC Contact Service

Statement of financial performance
for 12 months ending

2017/18 2018/19
Revenue
Sales 9,980,100 11,613,600
Less Cost of goods Sold 3,106,680 3,650,000

Gross Profit 6,873,420 7,963,600

Expense
Wages 4,550,000 5,550,000
Superannuation 432,250 527,250
Payroll Tax 190,363 238,863
Rent 450,000 450,000
Advertising 120,000 150,000
Repairs 12,600 12,900
Cleaning 53,000 54,000
Utilities 26,890 35,050
Accounting Fees 58,000 51,000

Insurance 67,530 65,730

Interest 10,987 12,378
Depreciation 124,578 294,485

Total Expenses 6,096,198 7,441,656

Net Profit Before Tax 777,222 521,944

Company Tax 233,167 156,583

Net Profit After Tax 544,055 365,361

Balance Sheet

ABC Contact Service

Statement of financial position
 as at 30 June

2017/18 2018/19
Assets
Current Assets
Bank 323,721 400,000
Investment Account 1,000,500 1,200,000
Debtors 965,840 1,120,762
Prepayments 33,765 32,865
Total Current Assets 2,323,826 2,753,627

Non Current Assets

IT Equipment 600,000 600,000
Accumulated Depn - IT Equipment (10,000) (250,895)
Motor Vehicle 123,000 123,000
Accumulated Depn - Motor Vehicle (9,500) (19,000)
Furniture & Fittings 86,979 86,979
Accumulated Depn - Furniture & Fittings (6,500) (13,000)
Office Equipment 500,000 520,000
Accumulated Depn - Office Equipment (63,000) (100,590)
Total Non Current Assets 1,220,979 946,494

TOTAL ASSETS 3,544,805 3,700,121

Liabilities
Current Liabilities
Creditors 180,123 105,000
GST Collected 249,503 290,340
GST Paid (18,012) (10,500)
Superannuation payable 108,063 131,813
Payroll Tax payable 47,591 59,716
Company Tax payable 58,292 39,146
Total Current Liabilities 625,560 615,515

Non Current Liabilities

Bank Loan 300,000 100,000
Total Non Current Liabilities 300,000 100,000

TOTAL LIABILITIES 925,560 715,515

Equity
Owner Equity / Shareholders Equity 120,000 120,000
Retained Earning 1,955,190 2,499,245
Current Year Earnings 544,055 365,361
Total Equity 2,619,245 2,984,606
 Account receivable aging report

31-60 days
Customer Total A/R Current 0-30 Overdue overdue 61+ overdue
1 $ 95,000.00 $ 85,000.00 $ 10,000.00
2 $ 55,000.00 $ 55,000.00
3 $ 35,000.00 $ 35,000.00
4 $ 37,300.00 $ 37,300.00
5 $ 65,000.00 $ 65,000.00
6 $ 70,000.00 $ 70,000.00
7 $ 15,000.00 $ 15,000.00
8 $ 30,000.00 $ 30,000.00
9 $ 51,000.00 $ 50,000.00 $ 1,000.00
10 $ 22,000.00 $ 22,000.00
11 $ 14,685.00 $ 8,370.00 $ 6,315.00
12 $ 70,000.00 $ 20,000.00 $ 50,000.00
Other $ 560,777.00 $ 560,777.00

Total $ 1,120,762.00 $ 1,018,447.00 $ 17,315.00 $ - $ 85,000.00

Cash Flow Statement Data
Current Reporting Period
© www.excel-skills.com.au
Income Statement 2017 2016

Turnover 11,613,600 9,980,100

Cost of sales (3,650,000) (3,106,680)
Gross profit 7,963,600.00 6,873,420.00
Depreciation (294,485.00) (124,578.00)
Administrative and selling expenses (7,134,793.00) (5,960,633.00)
Interest expense (12,378.00) (10,987.00)
Investment income - -

Profit before taxation 521,944.00 777,222.00

Taxes on income (156,583.00) (233,167.00)
Profit 365,361.00 544,055.00
Dividends paid - -
Retained Earnings 365,361.00 544,055.00

Balance Sheet 2017 2016

Assets
Cash and cash equivalents 400,000.00 323,721.00
Accounts receivable 1,120,762.00 965,840.00
Prepayments 32,865.00 33,765.00
Inventory - -
Portfolio investments 1,200,000.00 1,000,500.00

Property, plant and equipment at cost 1,329,979.00 1,309,979.00

Accumulated depreciation (383,485.00) (89,000.00)

Property, plant and equipment net 946,494.00 1,220,979.00

Total assets 3,700,121.00 3,544,805.00

Liabilities
Trade payables 576,369.00 567,268.00
Interest payable - -
Income taxes payable 39,146.00 58,292.00
Dividends payable - -
Long term debt 100,000.00 300,000.00
Total liabilities 715,515.00 925,560.00

Shareholders’ equity
Share capital 120,000.00 120,000.00
Retained earnings 2,864,606.00 2,499,245.00
Total shareholders’ equity 2,984,606.00 2,619,245.00

Total liabilities and shareholders’ equity 3,700,121.00 3,544,805.00

Statement of Cash Flows

Cash flows from operating activities

Profit before taxation
Adjustments for:
Depreciation
Investment income
Interest expense
Profit / (Loss) on the sale of property, plant & equipment
Working capital changes:
(Increase) / Decrease in trade and other receivables
(Increase) / (Decrease) in inventories

Increase / (Decrease) in trade payables

Cash generated from operations
Interest paid
Income taxes paid
Dividends paid
Net cash from operating activities

Cash flows from investing activities

Business acquisitions, net of cash acquired
Purchase of property, plant and equipment
Proceeds from sale of equipment
Acquisition of portfolio investments
Investment income
Net cash used in investing activities

Cash flows from financing activities

Proceeds from issue of share capital

Proceeds from long-term borrowings

Payment of long-term borrowings

Net cash used in financing activities

Net increase in cash and cash equivalents

Cash and cash equivalents at beginning of period

Cash and cash equivalents at end of period
2017

521,944.00

294,485.00
-
12,378.00
-

(154,922.00)
-

9,101.00
682,986.00
(12,378.00)
(175,729.00)
-
494,879.00

-
(20,000.00)
-
(199,500.00)
900.00
(218,600.00)

(200,000.00)
(200,000.00)

76,279.00

323,721.00
400,000.00
 2017/18 2017/18 2017/18
Q1 Q2 Q3
Prior Years Sales by Quarter 2,305,000 2,987,500 2,791,280

2017/18 2019/20 2019/20 2019/20

Q1 Q1 Q2 Q3
Actual Budget Budget Budget
Revenue
Sales 11,613,600
Less Cost of goods Sold 3,650,000

Gross Profit 7,963,600

Expense
Wages 5,550,000
Superannuation 527,250
Payroll Tax 238,863
Rent 450,000
Advertising 150,000
Repairs 12,900
Cleaning 54,000
Utilities 35,050
Accounting Fees 51,000
Legal Fees
Insurance 65,730
Interest 12,378
Depreciation 294,485
Total Expenses 7,441,656
Net Profit Before Tax 521,944
Company Tax 156,583
Net Profit After Tax 365,361
 2017/18
Q4 Full Year
3,529,820 11,613,600
Assumptions

2019/20 2019/20 1 Costs subjects to inflation should increase 2%: rent/ repair / insurance /
Q4 Full Year
Budget Budget 2 Sales grown expect to remain the same as 2015/16 & 2016/17

2017/18 2018/19
9,980,100 11,613,600

3 COGS % expected to remain the sames

2017/18 2018/19
Sales 9,980,100 11,613,600
Less COGS 3,106,680 3,650,000
0.31 0.31

4 Wages increase existing staff 1.9% + $115,000 (wnew employees)

5 Advertising increase by 12% - paid equal parts each quarter
6 Accounting fees increase by 1% - paid equal parts each quarter
7 Interest 5.6% on $280,000 ($20,000 repaid at end of month)
8 Superanuation - 9.5% of wages each quarter
9 Company tax is 30% of net profit each quarter
10 State payroll tax is 4.85% (when wages exeeds 625,000)
se 2%: rent/ repair / insurance / cleaning / utilities - paid equal parts each quarter

as 2015/16 & 2016/17

Growth
16.37%

5,000 (wnew employees)

parts each quarter
qual parts each quarter
aid at end of month)

exeeds 625,000)
Sales Budget 2019/2020 for Outbound service
Quarter Q1
2017-2018 historical
Sales in Units
Selling price/unit
Total budget sales
Gross profit margin
Q2 Q3 Q4 Full Year Assumptions

1 Price/service to increase 5%

2 GP to increase by 42% from th

3 Average price of service 500 fo

Price/service to increase 5%

GP to increase by 42% from the third quarter

Average price of service 500 for outbound calls and reporting (1 unit) for the past two financial years is: is $4,500
 2019/20 2019/20
Q1 Q1
Actual Budget
Revenue
Sales $ 2,405,113
Less Cost of goods Sold $ 916,250

Gross Profit 1,488,863

Expense
Wages 1,390,000
Superannuation 132,050
Payroll Tax 59,837
Rent 112,500
Advertising 38,750
Repairs 7,695
Cleaning 11,225
Utilities 10,695
Accounting Fees 12,250
Legal Fees 7,148
Insurance 16,697
Interest 5,240
Depreciation 116,098
Total Expenses 1,920,185
Net Profit Before Tax (431,322)
Company Tax (129,397)
Net Profit After Tax (301,925)
Variance