Integrated Profit and Loss, Balance Sheet & Cash

Flow Financial Model for Hotels

Business Plan

Date ____________ Version __________ _

Business Plan

Date ____________ Version __________ _

et & Cash
s
Business Planning Model
Worksheet names and purpose

The worksheets are classified under three categories:

 Input – cream coloured tab

 Calculation – red coloured tab

 Reporting – yellow coloured tab

The individual worksheets have different purposes:

Name Status Purpose

Cover Information Front cover
Structure Information This page
Specific monthly sales patterns relating to
Bespoke Input
rooms and events
IP1 Input Input sheet for all model parameters
Input sheet for balance sheet and opening
IP2 Input
balance items
P&L Reporting Monthly profit and loss account
BS Reporting Monthly balance sheet
Cash Reporting Monthly cashflow analysis
Analysis of functional overheads by
OvrH Reporting
department
Profit & Loss / Balance Sheet / Cashflow
Summary Reporting
and Accounting Ratios in summary format
CFlow Reporting Graphic of monthly cashflow
Analysis of sales and cost of sales by
Sales Calculation
month
Further
Information Contact details
Information
Business Planning Model
Guidance notes

1.  Cells

The various cells are shaded in different colours:

Shade Purpose Narrative

All such cells in worksheets IP1 and IP2 are
specifically for user input. Surrounding text
prompts for the type of input required (e.g. €
Input amount or percentage)
User input is provided by selecting form one of
the pre-populated items in the box (e.g. month
Input: drop-down of the year)
No input required – the cell is calculated on the
Calculated input basis of prior input(s)

2. Input Guidance

The worksheets are classified under three categories:

 Input – cream coloured tab

 Calculation – red coloured tab

 Reporting – yellow coloured tab

The individual worksheets have different purposes:

NOTE: ensure that all navigation within the worksheets is performed

using the horizontal and vertical scrollbars (cursor access is limited to
those cells requiring user input only)

The two inputs worksheets IP1 and IP2 are the only worksheets that need to be
populated. The individual worksheets allow for input of the following information:

Section Item Description

Input the company name (this populates
A.    Settings Company name
the name throughout the model)
Input the month in which the financial year
First month of financial year begins (usually January). This populates all
of the tables in the model
Year of first month of Input the first financial year (the model
financial year produces outputs for two years)
B.   
Input the number of rooms, expected
Sales:Rooms Rooms
occupancy and room rate by day-grouping
& Events
 Input the number of product / service
# items sold per category per annum for each
year
Select the pattern of sales from the drop-
down box:
·         Standard_m1 – assumes one twelfth of
sales occur each month
·         445_m1 – assumes 4/52 of sales occur
in the first two months of each quarter,
with 5/52 occurring in the third month
Pattern ·         Bi-Monthly_m1 – assumes sales occur
on every other month, with the first sales in
month one
·         Half-Year_m6 – assumes sales occur
twice per year, the first in month six, the
second in month 12
·         Annual_m1 – assumes sales occur once
per year, in month one
Select the VAT rate applying to each
product / service from the drop-down box:

C.    Sales ·         Standard

VAT rate ·         Reduced
Price
·         Tourism
·         Agricultural
·         Zero
·         Exempt
Input the selling price per unit of product /
Price
service EXCLUDING VAT in Euros
Select the percentage of sales (value)
Bad Debts expected to result in bad debts from the
drop-down box
Section Item Description
D.    CoS as Select the VAT rate applying to the input
%age of VAT rate factor costs for each product / service from
Revenue the drop-down box
Input the percentage of the sales price
CoS %age (excluding VAT) represented by the direct
Cost of Sales
For each overhead cost item, enter:
·         Department - name
·         Item - description
·         Year 1 – annual spend in €s
·         Year 2 - annual spend in €s
·         VAT – applicable rate, from drop-
E.     Other
Line items down box
Costs ·         Pattern – pattern of spend per
month, form drop-down box
·         NOTE: Mobile Phone and Travel /
Subsistence costs are populated from
individual entries against staff members
in section F
For each named-staff member, enter:
·         Department – select from drop-
down

F.     Staff-
Costs
related costs
 ·         Name - identifier
·         Year 1 – earnings (excluding
F.     Staff- employers' PRSI etc)
Costs
related costs ·         Year 2 - earnings (excluding
employers' PRSI etc)
·         Mobile Ph – cellphone costs per
individual (applies both years)
·         T&S – travel costs per individual
(applies both years)
For all creditor categories, enter the

G.    Working percentage split of cashflow payment /

Debtors, CoS, Overheads expenditure flows.
Capital A checkbox indicates whether the inputs
per column sum to 100%
For each of the assets, enter the expected
asset life and select the basis of
H.    Other depreciation from the drop-down box (viz:
Depreciation
Items Straight Line or Reducing Balance). The
percentage rate of depreciation is
calculated with reference to the asset life
Enter the percentage rates related to
Bank Interest
Overdrafts and Term Loans
The model accommodates two loans and a
financing bank loan – for each, enter:
·         Principal - €s
·         Term - years
·         Rate - percentage
Loans ·         Residual – zero or other
·         Drawdown – date of loan drawdown
·         Repayment – date of first payment
of principal (if later than drawdown for a
financing loan)
Section Item Description
The model accommodates up to three
leases – for each, enter:
·         Principal - €s
Leases ·         Term - years
·         Interest – €s
·         Commences – date of first payment
I.      Taxation PAYE / PRSI Enter the applicable payroll taxation rate
Corporation tax Enter the applicable Corporation Tax rate
If the drop-down is set to “On”, all VAT
VAT switch consequences will be calculated. If set to
“Off”, VAT is ignored in the model
VAT Input the VAT rates applicable by category
For Land & Buildings, Fixtures & Fittings,
Office Equipment and Motor Vehicles:
·         Input the opening asset values @
J.      Assets -
cost
inputs over ·         Input accumulated depreciation to
Fixed Assets
individual date
months
J.      Assets -
inputs over
Fixed Assets
individual
·         In the case of any additions to fixed
months
assets in the two years modelled, enter
the book value of the asset added in the
month added box
Enter opening balances – note that opening
debtors and creditors will have their expiry
Working capital
automatically calculated with reference to
the debtor and creditor profiles at G
Input for details of existing loans, forming
part of the funding at the beginning of the
plan. Details to input are:
·         Principal –original amount advanced
€s
·         Term – the original term of the loan
Loans
in years
·         Rate – the interest rate pertaining
·         Balance – the principal remaining on
the loan as of the date of commencing
the business plan (any additional
interest accrued should be added to the
principal
Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct
Mth # 1 2 3 4 5 6 7 8 9 10
Rooms 3.00% 3.00% 5.00% 9.00% 10.00% 10.00% 13.00% 13.00% 10.00% 9.00%
Events 2.00% 2.00% 6.00% 6.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00%

Sum Check
Rooms 100% 100.0%
Events 100% 100.0%
 Nov Dec
11 12
3.00% 12.00%
2.00% 10.00%
A. Settings
XYZ Ltd Business name
January First month of financial year
2013 Year of first month of financial year

B. Sales: Rooms / Events # # Pattern

Available
Rooms Rate / room
# / day Occupancy excl VAT - € VAT
Rooms Mon-Thu 75 65% 80 Tourism
Fri - Sat 75 65% 75
Sun 75 60% 70
Pattern BESPOKE_rooms
Change in rate/room in
second year 10%

Events
# / week Take-up Rate excl VAT - € VAT
Events Mon-Thu 2 80% 500 Standard
Fri - Sat 2 50% 1,500
Sun 1 45% 400
Pattern BESPOKE_events
Change in event rates in
second year 10%

C. Sales: Transactions Pattern VAT rate TOTAL Sales excl VAT

2013 2014
Bar Standard_m1 Standard € 500,000 550,000
Restaurant Standard_m1 Tourism € 750,000 750,000
Bad Debts viz. all bad debts Standard % 0.5%

D. CoS as %age of Revenue VAT rate CoS %age

Bar i.e. drinks etc Standard % 65%

Rooms i.e. breakfast Standard % 10%
Restaurant i.e. ingredients / food Standard % 60%
i.e. all additional wages, food
Events & drink Standard % 70%

E. Other costs (exclusive of VAT)

Department Item 2013 2014 VAT Pattern

MarkMarketing Advertising 5,000 5,000 Standard Quarterly_m1
MarkMarketing Fees / Commissions 5,000 5,000 Standard Quarterly_m1
MarkMarketing Merchandising 5,000 5,000 Standard Quarterly_m3
MarkMarketing Sales 5,000 5,000 Standard Quarterly_m1
MarkMarketing Marketing & Promotion 5,000 5,000 Standard Quarterly_m2
AdmiAdministration Bank charges 1,000 1,000 Standard Quarterly_m1
AdmiAdministration Bad Debts 7,447 8,191 Standard BESPOKE_events
AdmiAdministration Cleaning 50,000 55,000 Standard Standard_m1
AdmiAdministration Contract services 20,000 20,000 Standard BESPOKE_events
AdmiAdministration Credit card costs 36,000 40,000 Standard BESPOKE_rooms
AdmiAdministration Dues and subscriptions 1,000 1,500 Standard Quarterly_m2
AdmiAdministration Information systems 10,000 10,000 Standard Standard_m1
AdmiAdministration Legal fees 5,000 5,000 Standard Quarterly_m2
AdmiAdministration Loss and damage 2,500 5,000 Standard BESPOKE_rooms
AdmiAdministration Operating supplies & equip. 5,000 5,000 Standard Standard_m1
AdmiAdministration Postage 500 500 Standard Standard_m1
AdmiAdministration Printing and stationery 2,500 2,500 Standard Standard_m1
AdmiAdministration Professional fees 7,500 7,500 Standard Standard_m1
AdmiAdministration Security 10,000 10,000 Standard Standard_m1
AdmiAdministration Telecommunications 5,000 5,000 Standard Standard_m1
AdmiAdministration Training and development 10,000 10,000 Standard Standard_m1
AdmiAdministration Travel 5,000 5,000 Standard Standard_m1
AdmiAdministration Uniforms 10,000 10,000 Standard Half-Year_m1
AdmiAdministration Other 1,000 1,000 Standard Standard_m1
UtiliUtilities Electricity 50,000 60,000 Standard Quarterly_m1
Util Utilities Gas 50,000 75,000 Standard Quarterly_m1
UtiliUtilities Oil 0 0 Standard Standard_m1
Util Utilities Water 5,000 5,000 Standard Standard_m1
PropProperty-related Rents 0 0 Standard Standard_m1
PropProperty-related Rates 7,500 7,500 Standard Annual_m1
PropProperty-related Building Insurance 11,500 25,000 Standard Annual_m1
OperOperations Building supplies 2,400 2,400 Standard Standard_m1
OperOperations Electrical & mech. equip. 7,500 7,500 Standard Standard_m1
OperOperations Engineering supplies 6,500 6,500 Standard Standard_m1
OperOperations Furniture 2,500 2,500 Standard Annual_m2
OperOperations Grounds and landscaping 17,500 50,000 Standard Standard_m1
OperOperations Heating, vent & a/c equip 25,000 50,000 Standard Standard_m1
OperOperations Kitchen equipment 5,000 5,000 Standard Standard_m1
OperOperations Laundry equipment 5,000 5,000 Standard Standard_m1
OperOperations Life/safety 7,500 7,500 Standard Standard_m1
OperOperations Operating supplies 10,000 10,000 Standard Standard_m1
OperOperations Painting and decorating 2,500 2,500 Standard Standard_m1
OperOperations Removal of waste matter 5,000 5,000 Standard Standard_m1
OperOperations Spa / Wellness 6,500 6,500 Standard Standard_m1
OperOperations Swimming pool 50,000 50,000 Standard Standard_m1
OperOperations Training 12,500 12,500 Standard Standard_m1
OperOperations Vehicle maintenance 3,000 3,000 Standard Standard_m1
RoomRooms / Rest. / Events Cable/satellite television 20,000 20,000 Standard Standard_m1
RoomRooms / Rest. / Events China, Glassware, cutlery 20,000 20,000 Standard BESPOKE_events
RoomRooms / Rest. / Events Laundry and dry cleaning 10,000 10,000 Standard BESPOKE_events
RoomRooms / Rest. / Events Licenses 1,000 1,000 Standard BESPOKE_events
RoomRooms / Rest. / Events Linen 5,000 5,000 Standard BESPOKE_events
RoomRooms / Rest. / Events Music and entertainment 17,500 17,500 Standard BESPOKE_events

CapiCapital a/c Drawings 37,500 75,000 Standard_m1

F. Staff-related costs

Department Name 2013 2014

Marketing Name #1 20,000 30,000
Marketing Name #2
Administration Name #3 25,000 25,000
Administration Name #4 45,000 45,000
Administration Name #5 75,000 80,000
Administration Name #6
Operations Name #7 20,000 20,000
Operations Name #8 30,000 30,000
Operations Name #9 75,000 80,000
Operations Name #10
Rooms / Rest. / Events Name #11 30,000 30,000
Rooms / Rest. / Events Name #12 30,000 30,000
Rooms / Rest. / Events Name #13 30,000 30,000
Rooms / Rest. / Events Name #14 30,000 30,000
Rooms / Rest. / Events Name #15 30,000 30,000
Rooms / Rest. / Events Name #16 30,000 30,000
Rooms / Rest. / Events Name #17 30,000 30,000
Rooms / Rest. / Events Name #18 30,000 30,000
Rooms / Rest. / Events Name #19 30,000 30,000

G. Working Capital

Days Debtors CoS Overheads

0 - 30 Days 75% 25% 25%
31 - 60 Days 15% 75% 75%
61 - 90 Days 5%
90 - 120 Days 5%
Check: sums to 100% OK OK OK

H. Other items

Depreciation Asset Life years Basis Rate

Land and buildings 25 St.Line 4.00%
Fixtures & fittings 10 St.Line 10.00%
Office equipment 5 Red.Balance 20.00%
Motor vehicle 5 St.Line 20.00%

Bank Interest
Overdraft % 10.00%
Existing Term loan % 8.00%
 If the headers on Loans or Leases are red,
this indicates that the dates associated with the Loans / Leases
are before the start of the first financial year.
Start dates must be equal to or later than the beginning of the
first financial year
New Loans #1 #2 Bank
Principal € 250,000 250,000 100,000
Term Years 2.00 2.00 2.00
Rate % 7.50% 7.50%
Residual € 0 0 0
Drawdown Month Feb-13 Mar-14 Jan-13
Date of first repayment of principal (if different from drawdown date) Err:502 Mar-13

Leases #1 #2 #3
Principal €
Term Years
Interest €
Commences Month Jan-13 Jan-13 Jan-13

I. Taxation

Taxation 2013 2014

Employers' PRSI % 15.00% 15.00%
Corporation tax % 12.50% 12.50%

VAT Switch : Off means no VAT On

Standard 23.00% 23.00%
Reduced 13.50% 13.50%
Tourism 9.00% 13.50%
Agricultural 4.80% 4.80%
Zero 0.00% 0.00%
Exempt 0.00% 0.00%
XYZ Ltd
J. Assets - inputs over individual months

Opening
Balances Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14
FA Land & Buildings Additions 7,500,000
FA Land & Buildings Depreciation 1,500,000
FA Fixtures & Fittings Additions 1,500,000 475,000 475,000
FA Fixtures & Fittings Depreciation 450,000
FA Office Equipment Additions 200,000
FA Office Equipment Depreciation 100,000
FA Motor Vehicles Additions 25,000 40,000
FA Motor Vehicles New leases
FA Motor Vehicles Depreciation 10,000
Cap Capital a/c Additions
WC Trade Debtors Balance 30,000 7,500 3,000 1,500 0
WC Stock Balance
WC Trade Creditors Balance 45,000 33,750 0 0 0
Other Creditors -
WC Overheads Balance 0 0 0 0
Payroll Control
WC Account Balance
PAYE / PRSI Control
WC Account Balance
WC Corporation Tax Balance
WC VAT Balance
WC Cash Balance -20,000

WC Existing Loan #1 Principal WC Existing Loan #2 Principal WC Existing Lease Principal

WC Existing Loan #1 Term WC Existing Loan #2 Term WC Existing Lease Term
WC Existing Loan #1 Rate % WC Existing Loan #2 Rate % WC Existing Lease Rate %
WC Existing Loan #1 Balance WC Existing Loan #2 Balance WC Existing Lease Balance
Aug-14 Sep-14 Oct-14 Nov-14 Dec-14
Sales Value Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13
Rooms 40,797 40,797 67,995 122,391 135,990 135,990 176,788 176,788 135,990 122,391 40,797 163,188
Events 2,588 2,588 7,764 7,764 15,528 15,528 15,528 15,528 15,528 15,528 2,588 12,940
Bar 10,000 10,000 30,000 30,000 60,000 60,000 60,000 60,000 60,000 60,000 10,000 50,000
Restaurant 15,000 15,000 45,000 45,000 90,000 90,000 90,000 90,000 90,000 90,000 15,000 75,000
Sales 68,385 68,385 150,759 205,156 301,519 301,519 342,316 342,316 301,519 287,920 68,385 301,129
Cost of Sales
Rooms 4,080 4,080 6,800 12,239 13,599 13,599 17,679 17,679 13,599 12,239 4,080 16,319
Events 1,812 1,812 5,435 5,435 10,870 10,870 10,870 10,870 10,870 10,870 1,812 9,058
Bar 6,500 6,500 19,500 19,500 39,000 39,000 39,000 39,000 39,000 39,000 6,500 32,500
Restaurant 9,000 9,000 27,000 27,000 54,000 54,000 54,000 54,000 54,000 54,000 9,000 45,000
CoS 21,391 21,391 58,734 64,174 117,469 117,469 121,549 121,549 117,469 116,109 21,391 102,877

Sales Value Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14
Rooms 44,877 44,877 74,795 134,630 149,589 149,589 194,466 194,466 149,589 134,630 44,877 179,507
Events 2,847 2,847 8,541 8,541 17,081 17,081 17,081 17,081 17,081 17,081 2,847 14,234
Bar 11,000 11,000 33,000 33,000 66,000 66,000 66,000 66,000 66,000 66,000 11,000 55,000
Restaurant 15,000 15,000 45,000 45,000 90,000 90,000 90,000 90,000 90,000 90,000 15,000 75,000
Sales 73,724 73,724 161,335 221,171 322,671 322,671 367,547 367,547 322,671 307,712 73,724 323,742
Cost of Sales
Rooms 4,488 4,488 7,479 13,463 14,959 14,959 19,447 19,447 14,959 13,463 4,488 17,951
Events 1,993 1,993 5,978 5,978 11,957 11,957 11,957 11,957 11,957 11,957 1,993 9,964
Bar 7,150 7,150 21,450 21,450 42,900 42,900 42,900 42,900 42,900 42,900 7,150 35,750
Restaurant 9,000 9,000 27,000 27,000 54,000 54,000 54,000 54,000 54,000 54,000 9,000 45,000
CoS 22,630 22,630 61,908 67,891 123,816 123,816 128,303 128,303 123,816 122,320 22,630 108,665
XYZ Ltd
Overheads Analysis for the year ending 31-Dec-13
Function Item Group Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13
Marketing Wages & Salaries Payroll Control Account 1,667 1,667 1,667 1,667 1,667 1,667 1,667 1,667 1,667 1,667 1,667 1,667
Marketing PAYE / PRSI PAYE / PRSI Control Account 250 250 250 250 250 250 250 250 250 250 250 250
Marketing Advertising Other Creditors - Overheads 1,250 0 0 1,250 0 0 1,250 0 0 1,250 0 0
Marketing Fees / Commissions Other Creditors - Overheads 1,250 0 0 1,250 0 0 1,250 0 0 1,250 0 0
Marketing Merchandising Other Creditors - Overheads 0 0 1,250 0 0 1,250 0 0 1,250 0 0 1,250
Marketing Sales Other Creditors - Overheads 1,250 0 0 1,250 0 0 1,250 0 0 1,250 0 0
Marketing Marketing & Promotion Other Creditors - Overheads 0 1,250 0 0 1,250 0 0 1,250 0 0 1,250 0
Administration Wages & Salaries Payroll Control Account 12,083 12,083 12,083 12,083 12,083 12,083 12,083 12,083 12,083 12,083 12,083 12,083
Administration PAYE / PRSI PAYE / PRSI Control Account 1,813 1,813 1,813 1,813 1,813 1,813 1,813 1,813 1,813 1,813 1,813 1,813
Administration Bank charges Other Creditors - Overheads 250 0 0 250 0 0 250 0 0 250 0 0
Administration Bad Debts Other Creditors - Overheads 149 149 447 447 894 894 894 894 894 894 149 745
Administration Cleaning Other Creditors - Overheads 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167
Administration Contract services Other Creditors - Overheads 400 400 1,200 1,200 2,400 2,400 2,400 2,400 2,400 2,400 400 2,000
Administration Credit card costs Other Creditors - Overheads 1,080 1,080 1,800 3,240 3,600 3,600 4,680 4,680 3,600 3,240 1,080 4,320
Administration Dues and subscriptions Other Creditors - Overheads 0 250 0 0 250 0 0 250 0 0 250 0
Administration Information systems Other Creditors - Overheads 833 833 833 833 833 833 833 833 833 833 833 833
Administration Legal fees Other Creditors - Overheads 0 1,250 0 0 1,250 0 0 1,250 0 0 1,250 0
Administration Loss and damage Other Creditors - Overheads 75 75 125 225 250 250 325 325 250 225 75 300
Administration Operating supplies & equip. Other Creditors - Overheads 417 417 417 417 417 417 417 417 417 417 417 417
Administration Postage Other Creditors - Overheads 42 42 42 42 42 42 42 42 42 42 42 42
Administration Printing and stationery Other Creditors - Overheads 208 208 208 208 208 208 208 208 208 208 208 208
Administration Professional fees Other Creditors - Overheads 625 625 625 625 625 625 625 625 625 625 625 625
Administration Security Other Creditors - Overheads 833 833 833 833 833 833 833 833 833 833 833 833
Administration Telecommunications Other Creditors - Overheads 417 417 417 417 417 417 417 417 417 417 417 417
Administration Training and development Other Creditors - Overheads 833 833 833 833 833 833 833 833 833 833 833 833
Administration Travel Other Creditors - Overheads 417 417 417 417 417 417 417 417 417 417 417 417
Administration Uniforms Other Creditors - Overheads 5,000 0 0 0 0 0 5,000 0 0 0 0 0
Administration Other Other Creditors - Overheads 83 83 83 83 83 83 83 83 83 83 83 83
Utilities Electricity Other Creditors - Overheads 12,500 0 0 12,500 0 0 12,500 0 0 12,500 0 0
Utilities Gas Other Creditors - Overheads 12,500 0 0 12,500 0 0 12,500 0 0 12,500 0 0
Utilities Oil Other Creditors - Overheads 0 0 0 0 0 0 0 0 0 0 0 0
Utilities Water Other Creditors - Overheads 417 417 417 417 417 417 417 417 417 417 417 417
Property-related Rents Other Creditors - Overheads 0 0 0 0 0 0 0 0 0 0 0 0
Property-related Rates Other Creditors - Overheads 7,500 0 0 0 0 0 0 0 0 0 0 0
Property-related Building Insurance Other Creditors - Overheads 11,500 0 0 0 0 0 0 0 0 0 0 0
Operations Wages & Salaries Payroll Control Account 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417 10,417
Operations PAYE / PRSI PAYE / PRSI Control Account 1,563 1,563 1,563 1,563 1,563 1,563 1,563 1,563 1,563 1,563 1,563 1,563
Operations Building supplies Other Creditors - Overheads 200 200 200 200 200 200 200 200 200 200 200 200
Operations Electrical & mech. equip. Other Creditors - Overheads 625 625 625 625 625 625 625 625 625 625 625 625
Operations Engineering supplies Other Creditors - Overheads 542 542 542 542 542 542 542 542 542 542 542 542
Operations Furniture Other Creditors - Overheads 0 2,500 0 0 0 0 0 0 0 0 0 0
Operations Grounds and landscaping Other Creditors - Overheads 1,458 1,458 1,458 1,458 1,458 1,458 1,458 1,458 1,458 1,458 1,458 1,458
Operations Heating, vent & a/c equip Other Creditors - Overheads 2,083 2,083 2,083 2,083 2,083 2,083 2,083 2,083 2,083 2,083 2,083 2,083
Operations Kitchen equipment Other Creditors - Overheads 417 417 417 417 417 417 417 417 417 417 417 417
Operations Laundry equipment Other Creditors - Overheads 417 417 417 417 417 417 417 417 417 417 417 417
Operations Life/safety Other Creditors - Overheads 625 625 625 625 625 625 625 625 625 625 625 625
Operations Operating supplies Other Creditors - Overheads 833 833 833 833 833 833 833 833 833 833 833 833
Operations Painting and decorating Other Creditors - Overheads 208 208 208 208 208 208 208 208 208 208 208 208
Operations Removal of waste matter Other Creditors - Overheads 417 417 417 417 417 417 417 417 417 417 417 417
Operations Spa / Wellness Other Creditors - Overheads 542 542 542 542 542 542 542 542 542 542 542 542
Operations Swimming pool Other Creditors - Overheads 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167
Operations Training Other Creditors - Overheads 1,042 1,042 1,042 1,042 1,042 1,042 1,042 1,042 1,042 1,042 1,042 1,042
Operations Vehicle maintenance Other Creditors - Overheads 250 250 250 250 250 250 250 250 250 250 250 250
Rooms / Rest. / E Wages & Salaries Payroll Control Account 22,500 22,500 22,500 22,500 22,500 22,500 22,500 22,500 22,500 22,500 22,500 22,500
Rooms / Rest. / E PAYE / PRSI PAYE / PRSI Control Account 3,375 3,375 3,375 3,375 3,375 3,375 3,375 3,375 3,375 3,375 3,375 3,375
Rooms / Rest. / E Cable/satellite television Other Creditors - Overheads 1,667 1,667 1,667 1,667 1,667 1,667 1,667 1,667 1,667 1,667 1,667 1,667
Rooms / Rest. / E China, Glassware, cutlery Other Creditors - Overheads 400 400 1,200 1,200 2,400 2,400 2,400 2,400 2,400 2,400 400 2,000
Rooms / Rest. / E Laundry and dry cleaning Other Creditors - Overheads 200 200 600 600 1,200 1,200 1,200 1,200 1,200 1,200 200 1,000
Rooms / Rest. / E Licenses Other Creditors - Overheads 20 20 60 60 120 120 120 120 120 120 20 100
Rooms / Rest. / E Linen Other Creditors - Overheads 100 100 300 300 600 600 600 600 600 600 100 500
Rooms / Rest. / E Music and entertainment Other Creditors - Overheads 350 350 1,050 1,050 2,100 2,100 2,100 2,100 2,100 2,100 350 1,750
XYZ Ltd
Overheads Analysis for the year ending 31-Dec-14
Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14
2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500
375 375 375 375 375 375 375 375 375 375 375 375
1,250 0 0 1,250 0 0 1,250 0 0 1,250 0 0
1,250 0 0 1,250 0 0 1,250 0 0 1,250 0 0
0 0 1,250 0 0 1,250 0 0 1,250 0 0 1,250
1,250 0 0 1,250 0 0 1,250 0 0 1,250 0 0
0 1,250 0 0 1,250 0 0 1,250 0 0 1,250 0
12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500 12,500
1,875 1,875 1,875 1,875 1,875 1,875 1,875 1,875 1,875 1,875 1,875 1,875
250 0 0 250 0 0 250 0 0 250 0 0
164 164 491 491 983 983 983 983 983 983 164 819
4,583 4,583 4,583 4,583 4,583 4,583 4,583 4,583 4,583 4,583 4,583 4,583
400 400 1,200 1,200 2,400 2,400 2,400 2,400 2,400 2,400 400 2,000
1,200 1,200 2,000 3,600 4,000 4,000 5,200 5,200 4,000 3,600 1,200 4,800
0 375 0 0 375 0 0 375 0 0 375 0
833 833 833 833 833 833 833 833 833 833 833 833
0 1,250 0 0 1,250 0 0 1,250 0 0 1,250 0
150 150 250 450 500 500 650 650 500 450 150 600
417 417 417 417 417 417 417 417 417 417 417 417
42 42 42 42 42 42 42 42 42 42 42 42
208 208 208 208 208 208 208 208 208 208 208 208
625 625 625 625 625 625 625 625 625 625 625 625
833 833 833 833 833 833 833 833 833 833 833 833
417 417 417 417 417 417 417 417 417 417 417 417
833 833 833 833 833 833 833 833 833 833 833 833
417 417 417 417 417 417 417 417 417 417 417 417
5,000 0 0 0 0 0 5,000 0 0 0 0 0
83 83 83 83 83 83 83 83 83 83 83 83
15,000 0 0 15,000 0 0 15,000 0 0 15,000 0 0
18,750 0 0 18,750 0 0 18,750 0 0 18,750 0 0
0 0 0 0 0 0 0 0 0 0 0 0
417 417 417 417 417 417 417 417 417 417 417 417
0 0 0 0 0 0 0 0 0 0 0 0
7,500 0 0 0 0 0 0 0 0 0 0 0
25,000 0 0 0 0 0 0 0 0 0 0 0
10,833 10,833 10,833 10,833 10,833 10,833 10,833 10,833 10,833 10,833 10,833 10,833
1,625 1,625 1,625 1,625 1,625 1,625 1,625 1,625 1,625 1,625 1,625 1,625
200 200 200 200 200 200 200 200 200 200 200 200
625 625 625 625 625 625 625 625 625 625 625 625
542 542 542 542 542 542 542 542 542 542 542 542
0 2,500 0 0 0 0 0 0 0 0 0 0
4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167
4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167
417 417 417 417 417 417 417 417 417 417 417 417
417 417 417 417 417 417 417 417 417 417 417 417
625 625 625 625 625 625 625 625 625 625 625 625
833 833 833 833 833 833 833 833 833 833 833 833
208 208 208 208 208 208 208 208 208 208 208 208
417 417 417 417 417 417 417 417 417 417 417 417
542 542 542 542 542 542 542 542 542 542 542 542
4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167
1,042 1,042 1,042 1,042 1,042 1,042 1,042 1,042 1,042 1,042 1,042 1,042
250 250 250 250 250 250 250 250 250 250 250 250
22,500 22,500 22,500 22,500 22,500 22,500 22,500 22,500 22,500 22,500 22,500 22,500
3,375 3,375 3,375 3,375 3,375 3,375 3,375 3,375 3,375 3,375 3,375 3,375
1,667 1,667 1,667 1,667 1,667 1,667 1,667 1,667 1,667 1,667 1,667 1,667
400 400 1,200 1,200 2,400 2,400 2,400 2,400 2,400 2,400 400 2,000
200 200 600 600 1,200 1,200 1,200 1,200 1,200 1,200 200 1,000
20 20 60 60 120 120 120 120 120 120 20 100
100 100 300 300 600 600 600 600 600 600 100 500
350 350 1,050 1,050 2,100 2,100 2,100 2,100 2,100 2,100 350 1,750
XYZ Ltd
Profit & Loss Account for the year ending: 31-Dec-13
Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13
Sales 68,385 68,385 150,759 205,156 301,519 301,519 342,316 342,316 301,519
Cost of Sales (21,391) (21,391) (58,734) (64,174) (117,469) (117,469) (121,549) (121,549) (117,469)
Gross Profit 46,994 46,994 92,025 140,981 184,050 184,050 220,767 220,767 184,050
Overheads
Administration 29,725 25,975 26,343 28,133 31,414 29,914 36,319 32,569 29,914
Marketing 5,667 3,167 3,167 5,667 3,167 3,167 5,667 3,167 3,167
Operations 25,804 28,304 25,804 25,804 25,804 25,804 25,804 25,804 25,804
Property-related 19,000 0 0 0 0 0 0 0 0
Rooms / Rest. / Events 28,612 28,612 30,752 30,752 33,962 33,962 33,962 33,962 33,962
Utilities 25,417 417 417 25,417 417 417 25,417 417 417
Total Overheads 134,224 86,474 86,482 115,772 94,764 93,264 127,169 95,919 93,264

EBITDA (87,230) (39,480) 5,543 25,210 89,286 90,786 93,599 124,849 90,786

Depreciation 41,250 41,139 44,990 44,886 44,786 44,689 44,595 45,171 45,083
EBIT (128,480) (80,619) (39,447) (19,676) 44,501 46,098 49,004 79,678 45,703

Lease interest 0 0 0 0 0 0 0 0 0
Loan interest 667 2,229 2,169 2,080 1,991 1,901 1,812 1,721 1,631
Bank interest 167 0 0 2,379 2,314 1,746 1,279 568 271
Total interest 833 2,229 2,169 4,459 4,305 3,648 3,090 2,289 1,901

PBT (129,313) (82,848) (41,615) (24,135) 40,195 42,450 45,914 77,389 43,802

Taxation 0 0 0 0 0 0 0 0 0
PAT (129,313) (82,848) (41,615) (24,135) 40,195 42,450 45,914 77,389 43,802

Accumulated results (129,313) (212,162) (253,777) (277,912) (237,717) (195,267) (149,353) (71,964) (28,162)

XYZ Ltd
Profit & Loss Account for the year ending: 31-Dec-14

P&L Page 19
 Oct-13 Nov-13 Dec-13
287,920 68,385 301,129
(116,109) (21,391) (102,877)
171,811 46,994 198,252

29,779 25,975 30,135

5,667 3,167 3,167
25,804 25,804 25,804
0 0 0
33,962 28,612 32,892
25,417 417 417
120,629 83,974 92,415

51,182 (36,980) 105,837

44,998 44,917 44,837

6,184 (81,897) 61,000

0 0 0
1,540 1,448 1,356
0 0 80
1,540 1,448 1,437

4,644 (83,345) 59,563

0 0 0
4,644 (83,345) 59,563

(23,518) (106,863) (47,300)

P&L Page 20
P&L Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14
Sales 73,724 73,724 161,335 221,171 322,671 322,671 367,547 367,547 322,671
Cost of Sales (22,630) (22,630) (61,908) (67,891) (123,816) (123,816) (128,303) (128,303) (123,816)
Gross Profit 51,093 51,093 99,427 153,280 198,855 198,855 239,244 239,244 198,855
Overheads
Administration 30,830 27,205 27,608 29,658 33,175 31,550 38,150 34,525 31,550
Marketing 6,625 4,125 4,125 6,625 4,125 4,125 6,625 4,125 4,125
Operations 31,075 33,575 31,075 31,075 31,075 31,075 31,075 31,075 31,075
Property-related 32,500 0 0 0 0 0 0 0 0
Rooms / Rest. / Events 28,612 28,612 30,752 30,752 33,962 33,962 33,962 33,962 33,962
Utilities 34,167 417 417 34,167 417 417 34,167 417 417
Total Overheads 163,809 93,934 93,976 132,276 102,753 101,128 143,978 104,103 101,128

EBITDA (112,716) (42,841) 5,451 21,003 96,102 97,727 95,266 135,141 97,727

Depreciation 44,761 44,687 44,615 44,546 48,438 48,373 48,311 48,250 48,192
EBIT (157,476) (87,528) (39,164) (23,543) 47,664 49,354 46,955 86,891 49,535

Lease interest 0 0 0 0 0 0 0 0 0
Loan interest 1,264 1,172 2,641 2,487 2,332 2,177 2,020 1,863 1,705
Bank interest 0 0 912 0 0 2,158 1,674 1,104 471
Total interest 1,264 1,172 3,553 2,487 2,332 4,335 3,695 2,967 2,177

PBT (158,741) (88,699) (42,717) (26,030) 45,332 45,019 43,261 83,924 47,358

Taxation 0 0 0 0 0 0 0 0 0
PAT (158,741) (88,699) (42,717) (26,030) 45,332 45,019 43,261 83,924 47,358

Accumulated results (206,041) (294,740) (337,457) (363,487) (318,155) (273,137) (229,876) (145,953) (98,594)

P&L Page 21
 Oct-14 Nov-14 Dec-14
307,712 73,724 323,742
(122,320) (22,630) (108,665)
185,392 51,093 215,077

31,350 27,205 31,886

6,625 4,125 4,125
31,075 31,075 31,075
0 0 0
33,962 28,612 32,892
34,167 417 417
137,178 91,434 100,394

48,214 (40,341) 114,683

48,136 48,081 48,028

78 (88,422) 66,654

0 0 0
1,546 1,387 1,226
9 0 789
1,556 1,387 2,015

(1,477) (89,809) 64,639

0 0 0
(1,477) (89,809) 64,639

(100,072) (189,880) (125,241)

P&L Page 22
XYZ Ltd
Balance Sheet for the year ending: 31-Dec-13
Opening Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13
Fixed Assets
Tangible Assets 7,165,000 7,123,750 7,082,611 7,512,621 7,467,735 7,422,950 7,378,261 7,333,666 7,328,495 7,283,412 7,238,414 7,193,497 7,148,660

Current Assets
Stock 0 0 0 0 0 0 0 0 0 0 0 0 0
Trade Debtors 30,000 26,576 29,706 55,349 78,003 116,179 130,176 146,809 151,256 142,362 134,209 68,478 108,111
VAT 0 15,531 20,080 2,201 7,494 0 0 3,479 0 0 4,034 3,974 634
Cash at hand and in Bank 0 66,502 176,502 0 0 0 0 0 0 43,034 101,726 0 123,822
30,000 108,609 226,288 57,550 85,498 116,179 130,176 150,288 151,256 185,397 239,969 72,451 232,568
Current Liabilities
Trade Creditors 45,000 53,484 19,734 54,183 59,201 108,365 108,365 112,129 112,129 108,365 107,111 19,734 94,904
Other creditors 0 74,314 30,265 30,272 57,292 37,912 36,528 67,806 38,977 36,528 61,772 27,958 35,745
PAYE / PRSI 0 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000
Overdraft 20,000 0 0 285,471 277,730 209,567 153,447 68,122 32,477 0 0 9,639 0
Corporation Tax 0 0 0 0 0 0 0 0 0 0 0 0 0
VAT 0 0 0 0 0 1,241 2,826 0 229 1,586 0 0 0
Bank Loan 0 45,833 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000
Loan Obligations 0 0 121,081 121,838 122,600 123,366 124,137 124,913 125,693 126,479 127,269 128,065 128,865
Finance Lease Obligations 0 0 0 0 0 0 0 0 0 0 0 0 0
65,000 180,631 228,080 548,763 573,822 537,450 482,303 429,969 366,505 329,958 353,152 242,396 316,514

Net Current Assets / (Liabilities) (35,000) (72,022) (1,791) (491,213) (488,324) (421,272) (352,128) (279,681) (215,250) (144,561) (113,183) (169,945) (83,947)

Long Term Liabilities

Bank Loan 0 54,167 50,000 45,833 41,667 37,500 33,333 29,167 25,000 20,833 16,667 12,500 8,333
Loan Obligations 0 0 119,231 108,727 98,156 87,520 76,817 66,047 55,210 44,305 33,332 22,291 11,180
Finance Lease obligations 0 0 0 0 0 0 0 0 0 0 0 0 0
0 54,167 169,231 154,560 139,823 125,020 110,150 95,214 80,210 65,139 49,999 34,791 19,513

Net Assets / (Liabilities) 7,130,000 6,997,562 6,911,588 6,866,848 6,839,588 6,876,658 6,915,983 6,958,772 7,033,036 7,073,713 7,075,232 6,988,762 7,045,200

Capital and reserves

Capital a/c 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit and loss account 0 (129,313) (212,162) (253,777) (277,912) (237,717) (195,267) (149,353) (71,964) (28,162) (23,518) (106,863) (47,300)
Drawings 0 (3,125) (6,250) (9,375) (12,500) (15,625) (18,750) (21,875) (25,000) (28,125) (31,250) (34,375) (37,500)
Reserves 7,130,000 7,130,000 7,130,000 7,130,000 7,130,000 7,130,000 7,130,000 7,130,000 7,130,000 7,130,000 7,130,000 7,130,000 7,130,000
Shareholders Funds 7,130,000 6,997,562 6,911,588 6,866,848 6,839,588 6,876,658 6,915,983 6,958,772 7,033,036 7,073,713 7,075,232 6,988,762 7,045,200

Check 0 0 0 0 0 0 0 0 0 0 0 0 0

BS Page 23
XYZ Ltd
Balance Sheet for the year ending: 31-Dec-14

BS Page 24
 Opening Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14
Fixed Assets
Tangible Assets 7,148,660 7,103,899 7,059,212 7,014,597 6,970,050 7,396,613 7,348,239 7,299,929 7,251,678 7,203,486 7,155,351 7,107,269 7,059,241

Current Assets
Stock 0 0 0 0 0 0 0 0 0 0 0 0 0
Trade Debtors 108,111 58,767 46,599 59,514 86,700 128,382 143,692 162,383 167,477 157,290 147,952 75,669 119,862
VAT 634 18,829 21,586 0 0 0 0 0 0 0 0 2,182 0
Cash at hand and in Bank 123,822 10,516 0 159,490 161,487 0 0 0 0 0 57,804 0 44,656
232,568 88,112 68,185 219,004 248,187 128,382 143,692 162,383 167,477 157,290 205,756 77,851 164,519
Current Liabilities
Trade Creditors 94,904 20,877 20,877 57,110 62,630 114,220 114,220 118,360 118,360 114,220 112,840 20,877 100,243
Other creditors 35,745 99,838 35,378 35,418 70,749 43,514 42,015 81,544 44,759 42,015 75,271 33,072 41,338
PAYE / PRSI 7,000 7,250 7,250 7,250 7,250 7,250 7,250 7,250 7,250 7,250 7,250 7,250 7,250
Overdraft 0 0 109,401 0 0 259,013 200,921 132,446 56,555 1,093 0 94,660 0
Corporation Tax 0 0 0 0 0 0 0 0 0 0 0 0 0
VAT 0 0 0 2,657 3,207 12,127 24,627 7,671 24,513 12,500 15,034 0 12,801
Bank Loan 50,000 50,000 50,000 45,833 41,667 37,500 33,333 29,167 25,000 20,833 16,667 12,500 8,333
Loan Obligations 128,865 129,601 119,231 229,808 219,994 210,119 200,183 190,184 180,123 169,999 159,811 149,560 139,245
Finance Lease Obligations 0 0 0 0 0 0 0 0 0 0 0 0 0
316,514 307,566 342,137 378,076 405,498 683,743 622,549 566,621 456,561 367,910 386,873 317,919 309,210

Net Current Assets / (Liabilities) (83,947) (219,453) (273,952) (159,072) (157,311) (555,362) (478,857) (404,238) (289,084) (210,620) (181,117) (240,067) (144,691)

Long Term Liabilities

Bank Loan 8,333 4,167 0 0 0 0 0 0 0 0 0 0 0
Loan Obligations 11,180 70 0 119,231 108,727 98,156 87,520 76,817 66,047 55,210 44,305 33,332 22,291
Finance Lease obligations 0 0 0 0 0 0 0 0 0 0 0 0 0
19,513 4,237 0 119,231 108,727 98,156 87,520 76,817 66,047 55,210 44,305 33,332 22,291

Net Assets / (Liabilities) 7,045,200 6,880,209 6,785,260 6,736,293 6,704,013 6,743,095 6,781,863 6,818,874 6,896,547 6,937,656 6,929,928 6,833,870 6,892,259

Capital and reserves

Capital a/c (37,500) (37,500) (37,500) (37,500) (37,500) (37,500) (37,500) (37,500) (37,500) (37,500) (37,500) (37,500) (37,500)
Profit and loss account 0 (158,741) (247,440) (290,157) (316,187) (270,855) (225,837) (182,576) (98,652) (51,294) (52,771) (142,580) (77,941)
Drawings 0 (6,250) (12,500) (18,750) (25,000) (31,250) (37,500) (43,750) (50,000) (56,250) (62,500) (68,750) (75,000)
Reserves 7,082,700 7,082,700 7,082,700 7,082,700 7,082,700 7,082,700 7,082,700 7,082,700 7,082,700 7,082,700 7,082,700 7,082,700 7,082,700
Shareholders Funds 7,045,200 6,880,209 6,785,260 6,736,293 6,704,013 6,743,095 6,781,863 6,818,874 6,896,547 6,937,656 6,929,928 6,833,870 6,892,259

Check 0 0 0 0 0 0 0 0 0 0 0 0 0

BS Page 25
XYZ Ltd
Cashflow for the year ending: 31-Dec-13
Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13
Inflows
Sales Receipts 79,727 73,172 143,971 206,252 301,054 325,233 367,065 379,251 348,123 332,559 142,034 297,409
VAT 0 0 20,080 0 7,494 0 0 0 0 0 4,034 0
Bank Debt 100,000 0 0 0 0 0 0 0 0 0 0 0
Loans 0 250,000 0 0 0 0 0 0 0 0 0 0
Lease Receipts 0 0 0 0 0 0 0 0 0 0 0 0
Equity 0 0 0 0 0 0 0 0 0 0 0 0

Total Inflows 179,727 323,172 164,051 206,252 308,548 325,233 367,065 379,251 348,123 332,559 146,068 297,409

Outflows

Fixed Asset Additions 0 0 475,000 0 0 0 0 40,000 0 0 0 0

Creditor Payments - COS 17,828 60,061 37,794 73,916 95,322 144,487 145,741 149,505 148,250 144,069 113,688 51,368
Creditor Payments - Overheads 24,771 84,402 40,355 49,369 69,929 50,088 59,130 80,798 51,153 57,119 71,092 39,873
Payroll 46,667 46,667 46,667 46,667 46,667 46,667 46,667 46,667 46,667 46,667 46,667 46,667
PAYE / PRSI 0 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000 7,000
Drawings 3,125 3,125 3,125 3,125 3,125 3,125 3,125 3,125 3,125 3,125 3,125 3,125
Corporation Tax 0 0 0 0 0 0 0 0 0 0 0 0
VAT 0 0 0 0 0 0 2,826 0 229 0 0 0
Bank Loan - Interest 667 667 667 639 611 583 556 528 500 472 444 417
Bank Loan - Repayment 0 0 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167
Loan - Repayment 0 11,250 11,250 11,250 11,250 11,250 11,250 11,250 11,250 11,250 11,250 11,250
Finance Leases 0 0 0 0 0 0 0 0 0 0 0 0
Total Outflows 93,058 213,172 626,025 196,132 238,071 267,366 280,461 343,039 272,341 273,868 257,433 163,867

Net Cash Inflow / (Outflow) 86,669 110,000 (461,973) 10,120 70,477 57,866 86,604 36,213 75,782 58,691 (111,365) 133,542

Cash Reconciliation
Opening Balance (20,000) 66,502 176,502 (285,471) (277,730) (209,567) (153,447) (68,122) (32,477) 43,034 101,726 (9,639)
Net Cash Inflow / (Outflow) 86,669 110,000 (461,973) 10,120 70,477 57,866 86,604 36,213 75,782 58,691 (111,365) 133,542
Overdraft Interest (167) 0 0 (2,379) (2,314) (1,746) (1,279) (568) (271) 0 0 (80)
Closing Balance 66,502 176,502 (285,471) (277,730) (209,567) (153,447) (68,122) (32,477) 43,034 101,726 (9,639) 123,822

XYZ Ltd
Cashflow for the year ending: 31-Dec-14

Cash Page 26
 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14
Inflows
Sales Receipts 134,336 97,160 174,147 227,790 332,442 358,813 406,368 419,966 384,311 366,484 157,275 329,830
VAT 634 0 21,586 0 0 0 0 0 0 0 0 0
Bank Debt 0 0 0 0 0 0 0 0 0 0 0 0
Loans 0 0 250,000 0 0 0 0 0 0 0 0 0
Lease Receipts 0 0 0 0 0 0 0 0 0 0 0 0
Equity 0 0 0 0 0 0 0 0 0 0 0 0

Total Inflows 134,970 97,160 445,733 227,790 332,442 358,813 406,368 419,966 384,311 366,484 157,275 329,830

Outflows

Fixed Asset Additions 0 0 0 0 475,000 0 0 0 0 0 0 0

Creditor Payments - COS 101,863 27,835 39,913 77,987 100,703 152,293 153,673 157,813 156,433 151,833 119,799 54,291
Creditor Payments - Overheads 69,024 111,631 47,184 59,001 85,254 57,519 69,196 96,464 58,764 67,105 86,295 46,851
Payroll 48,333 48,333 48,333 48,333 48,333 48,333 48,333 48,333 48,333 48,333 48,333 48,333
PAYE / PRSI 7,000 7,250 7,250 7,250 7,250 7,250 7,250 7,250 7,250 7,250 7,250 7,250
Drawings 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250 6,250
Corporation Tax 0 0 0 0 0 0 0 0 0 0 0 0
VAT 0 0 0 0 3,207 0 24,627 0 24,513 0 15,034 0
Bank Loan - Interest 389 361 333 306 278 250 222 194 167 139 111 83
Bank Loan - Repayment 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167 4,167
Loan - Repayment 11,250 11,250 22,500 22,500 22,500 22,500 22,500 22,500 22,500 22,500 22,500 22,500
Finance Leases 0 0 0 0 0 0 0 0 0 0 0 0
Total Outflows 248,276 217,077 175,931 225,793 752,942 298,562 336,219 342,971 328,377 307,577 309,739 189,726

Net Cash Inflow / (Outflow) (113,306) (119,917) 269,802 1,997 (420,500) 60,251 70,149 76,994 55,933 58,906 (152,464) 140,105

Cash Reconciliation
Opening Balance 123,822 10,516 (109,401) 159,490 161,487 (259,013) (200,921) (132,446) (56,555) (1,093) 57,804 (94,660)
Net Cash Inflow / (Outflow) (113,306) (119,917) 269,802 1,997 (420,500) 60,251 70,149 76,994 55,933 58,906 (152,464) 140,105
Overdraft Interest 0 0 (912) 0 0 (2,158) (1,674) (1,104) (471) (9) 0 (789)
Closing Balance 10,516 (109,401) 159,490 161,487 (259,013) (200,921) (132,446) (56,555) (1,093) 57,804 (94,660) 44,656

Cash Page 27
XYZ Ltd Profit & Loss 2013 2014 Cashflow 2013 2014
€'000 €'000 €'000 €'000
Sales 2,739.3 2,938.2 Opening balance -20.0 132.6
Cost of Sales -1,001.6 -1,056.7
Gross Profit 1,737.7 1,881.5 Inflows 3,377.5 3,661.1
Overheads -1,224.3 -1,366.1

EBITDA 513.4 515.4 Outflows -3,224.8 -3,733.2

Depreciation -531.3 -564.4
Interest / Charges -29.3 -28.9
Taxation 0.0 0.0
Net profit/(loss) -47.3 -77.9 Closing Balance 132.6 60.6

Balance Sheet 2013 2014 Ratios 2013 2014

€'000 €'000

Fixed Assets 7,148.7 7,059.2 Current Ratio 0.73 0.53

Quick Ratio 0.73 0.53

Current Assets 232.6 164.5 Working Capital: Sales Revenue -1.1% -1.4%
Current Liabilities -316.5 -309.2 Debtors : Creditors Ratio 0.79 0.74

Net Current Assets -83.9 -144.7 As a ratio of Sales:

Long-term Liabilities -19.5 -22.3 EBITDA 15.9% 17.5%
EBIT -0.6% -1.7%
PBT -1.5% -2.7%
Net Assets 7,045.2 6,892.3 PAT -1.5% -2.7%
CASH FLOW - TWO YEARS
XYZ Ltd
€600

€400

€200

€0

Cashflow - '000
-€200

-€400

-€600

-€800

-€1,000
Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14

Date Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13
In 179.7 323.2 164.1 206.3 308.5 325.2 367.1 379.3 348.1 332.6 146.1 297.4
Out (93.1) (213.2) (626.0) (196.1) (238.1) (267.4) (280.5) (343.0) (272.3) (273.9) (257.4) (163.9)
Period 86.7 110.0 (462.0) 10.1 70.5 57.9 86.6 36.2 75.8 58.7 (111.4) 133.5

Date Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14
In 135.0 97.2 445.7 227.8 332.4 358.8 406.4 420.0 384.3 366.5 157.3 329.8
Out (248.3) (217.1) (175.9) (225.8) (752.9) (298.6) (336.2) (343.0) (328.4) (307.6) (309.7) (189.7)
Cum (113.3) (119.9) 269.8 2.0 (420.5) 60.3 70.1 77.0 55.9 58.9 (152.5) 140.1

Date Jan-13 Feb-13 Mar-13 Apr-13 May-13

In 179,727 323,172 164,051 206,252 308,548
Out (93,058) (213,172) (626,025) (196,132) (238,071)
Cum 66502.4293 176502.48 -285470.8 -277729.86 -209566.97
 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14
325,233 367,065 379,251 348,123 332,559 146,068 297,409 134,970 97,160 445,733 227,790 332,442 358,813 406,368 419,966 384,311 366,484 157,275 329,830
(267,366) (280,461) (343,039) (272,341) (273,868) (257,433) (163,867) (248,276) (217,077) (175,931) (225,793) (752,942) (298,562) (336,219) (342,971) (328,377) (307,577) (309,739) (189,726)
-153447.09 -68121.971 -32477.04 43034.498 101725.617 -9639.2619 123822.457 10516.1938 -109401.24 159489.558 161486.878 -259013.46 -200920.67 -132445.75 -56555.207 -1093.0254 57804.113 -94659.77 44656.1019
For more information please contact:
Brendan Waters
Partner
Tel: +353 (0) 1 449 4400 email: bwaters@mazars.ie
Mazars, Harcourt Centre, Block 3, Harcourt Road, Dublin 2

Mazars.ie