Tutorial

1 This spreadsheet consists of the following worksheets (see tabs below):

1a Tutorial (red tab)
1b Funding (blue tab)
1c Inputs (purple tab)
1d I-Statement (Income Statement)
1e B-Sheet (Balance Sheet)
1f Cash flow (excluding GroFin's working capital requirement)
1g Ratios (Indicators and ratios)
Note 1: Throughout the spreadsheet you will notice popup comments which change depending on the selected cell.
Note 2: The user will only be allowed to enter data into cells with the green colour. Select 1 Select 2
2 Click on the "Funding" tab and enter the following information:
TABLE 1 Enter the names and values of all assets
TABLE 1 Enter a month,between 1 and 6, in which it will be acquired. For existing assets, enter 1
TABLE 1 Enter the depreciation rate for each asset section
TABLE 2 Enter the portion of own funds that will be available or have already been put into the business
TABLE 2 Enter the portion of other funds that are available or have already been put into the business
TABLE 2 Enter the total working capital (cash) requirement, and allocate to Own and Other. The remainder will come from GroFin
TABLE 3 Choose the term of the GroFin loan, and an interest rate similar to the prime lending rate
TABLE 3 Enter an incentive rate after discussing this with your BDM
TABLE 3 Choose the term of the Other loan, if any
TABLE 3 For the other loan, enter the lending rate applicable
3 Click on the "Inputs" tab and enter the following information:
3a Enter the company name and entrepreneur name
3b Choose the country from the drop-down list
3c Enter the exchange rate (USD:Local), and the company tax rate
3d Enter the Business Development fee (ask your BDM for more information)
3e Enter the debtors and creditors payment periods (ensure that it adds up to 100%)
3f Choose names for departments and enter projected sales for month 1 to month 12
3g Enter the applicable gross profit %, where cost of sales is taken as all direct material used to produce the product
3h Enter the expected increase in inventory in year 1 (include existing inventory in month 1)
3i Enter the appropriate names for overhead expenses, if different
3j Enter the value of overhead expenses for month 1 to month 12
3k Similar to the above, enter projected sales, gross profit % and value of overhead expenses for month 13 to month 24
3l Similar, enter the total projected sales, gross profit and total value of overhead expenses for year 3
Note 3: Please ask your Business Development Manager for help if any of these steps are not clear © GroFin 2007
11/25/2020 GroFin Client Model

TABLE 1 UGX TABLE 2 © GroFin 2007

Pre-operational expenses 3,000,000 Funds required and sources of funds UGX
Office Rent - 6 Months 1,800,000 Description GroFin Other Own funds Total
Research Costs 500,000 Pre-operational expenses - - 3,000,000 3,000,000
Company Registration Costs 500,000 Initial inventory/raw material - - - -
Bank Account Opening 200,000 Land & buildings - - - -
Deposits Plant & equipment - - - -
Vehicles 235,000,000 25,000,000 260,000,000
Total capital expenditure 262,000,000 Office furniture & equipment - - 2,000,000 2,000,000
Mnth acquired % Depreciation Working capital 15,000,000 15,000,000
Land & buildings - 0% Total 250,000,000 - 30,000,000 280,000,000
Land - 1 89.3% 0.0% 10.7% 100.0%
Improvements - 1
Buildings - 1
Pipeline - 1 GroFin Loan details UGX $
Plans - 1 Loan amount 250,000,000 $147,058.82 Please note:
Other - 1 Term of loan (years) 5 incentives may
Interest rate (pa) 20%
Plant & equipment - 0% Payment frequency monthly be charged.
Plant / equipment - 1 Number of instalments 60 Please discuss
Shipment & insurance - 1 Monthly instalment 6,623,471 $3,896.16
Customs & clearance - 1 Capital moratorium 6 months
this with your
Transport to business premises - 1 Incentives 2% of sales BDM.
Commissioning & testing - 1 Other Loan details UGX $
Other - 1 Loan amount - $0.00
Term of loan (years) 5
Vehicles 260,000,000 20% Interest rate (pa) 20%
10 Minibus Vans 260,000,000 1 Payment frequency monthly
1 Number of instalments 60
Other - 1 Monthly instalment - $0.00

Office furniture & equipment 2,000,000 20%

Office Desk 500,000 1
Computer 1,000,000 1
Printer 500,000 1
Other 1
© GroFin 2007
GroFin Repayment Schedule Other Loan Repayment Schedule
Month Principle Interest Instalment Balance Month Principle Interest Instalment Balance
1 - - - 250,000,000 1 - - - -
2 - 4,166,667 4,166,667 250,000,000 2 - - - -
3 - 4,166,667 4,166,667 250,000,000 3 - - - -
4 - 4,166,667 4,166,667 250,000,000 4 - - - -
5 - 4,166,667 4,166,667 250,000,000 5 - - - -
6 - 4,166,667 4,166,667 250,000,000 6 - - - -
7 - 4,166,667 4,166,667 250,000,000 7 - - - -
8 2,456,804 4,166,667 6,623,471 247,543,196 Year 1 8 - - - -
9 2,497,751 4,125,720 6,623,471 245,045,446 9 - - - -
10 2,539,380 4,084,091 6,623,471 242,506,066 10 - - - -
11 2,581,703 4,041,768 6,623,471 239,924,363 11 - - - -
12 2,624,731 3,998,740 6,623,471 237,299,632 12 - - - -
13 2,668,477 3,954,994 6,623,471 234,631,155 13 - - - -
14 2,712,951 3,910,520 6,623,471 231,918,204 14 - - - -
15 2,758,167 3,865,304 6,623,471 229,160,037 15 - - - -
16 2,804,137 3,819,334 6,623,471 226,355,901 16 - - - -
17 2,850,872 3,772,599 6,623,471 223,505,028 17 - - - -
18 2,898,387 3,725,084 6,623,471 220,606,642 18 - - - -
19 2,946,693 3,676,778 6,623,471 217,659,949 19 - - - -
20 2,995,805 3,627,666 6,623,471 214,664,144 Year 2 20 - - - -
21 3,045,735 3,577,736 6,623,471 211,618,409 21 - - - -
22 3,096,497 3,526,974 6,623,471 208,521,912 22 - - - -
23 3,148,105 3,475,366 6,623,471 205,373,807 23 - - - -
24 3,200,574 3,422,897 6,623,471 202,173,233 24 - - - -
25 3,253,917 3,369,554 6,623,471 198,919,316 25 - - - -
26 3,308,149 3,315,322 6,623,471 195,611,168 26 - - - -
27 3,363,284 3,260,186 6,623,471 192,247,883 27 - - - -
28 3,419,339 3,204,132 6,623,471 188,828,544 28 - - - -
29 3,476,328 3,147,143 6,623,471 185,352,216 29 - - - -
30 3,534,267 3,089,204 6,623,471 181,817,949 30 - - - -
31 3,593,171 3,030,299 6,623,471 178,224,777 31 - - - -
32 3,653,058 2,970,413 6,623,471 174,571,720 Year 3 32 - - - -
33 3,713,942 2,909,529 6,623,471 170,857,778 33 - - - -
34 3,775,841 2,847,630 6,623,471 167,081,937 34 - - - -
35 3,838,772 2,784,699 6,623,471 163,243,165 35 - - - -
36 3,902,751 2,720,720 6,623,471 159,340,414 36 - - - -
37 3,967,797 2,655,674 6,623,471 155,372,617 37 - - - -
38 4,033,927 2,589,544 6,623,471 151,338,690 38 - - - -
39 4,101,159 2,522,312 6,623,471 147,237,530 39 - - - -
40 4,169,512 2,453,959 6,623,471 143,068,019 40 - - - -
41 4,239,004 2,384,467 6,623,471 138,829,015 41 - - - -
42 4,309,654 2,313,817 6,623,471 134,519,361 42 - - - -
43 4,381,481 2,241,990 6,623,471 130,137,880 43 - - - -
44 4,454,506 2,168,965 6,623,471 125,683,374 Year 4 44 - - - -
45 4,528,748 2,094,723 6,623,471 121,154,626 45 - - - -
46 4,604,227 2,019,244 6,623,471 116,550,399 46 - - - -
47 4,680,964 1,942,507 6,623,471 111,869,435 47 - - - -
48 4,758,980 1,864,491 6,623,471 107,110,455 48 - - - -
49 4,838,296 1,785,174 6,623,471 102,272,158 49 - - - -
50 4,918,935 1,704,536 6,623,471 97,353,224 50 - - - -
51 5,000,917 1,622,554 6,623,471 92,352,307 51 - - - -
52 5,084,266 1,539,205 6,623,471 87,268,041 52 - - - -
53 5,169,003 1,454,468 6,623,471 82,099,038 53 - - - -
54 5,255,153 1,368,317 6,623,471 76,843,884 54 - - - -
55 5,342,739 1,280,732 6,623,471 71,501,145 55 - - - -
56 5,431,785 1,191,686 6,623,471 66,069,360 Year 5 56 - - - -
57 5,522,315 1,101,156 6,623,471 60,547,045 57 - - - -
58 5,614,353 1,009,118 6,623,471 54,932,691 58 - - - -
59 5,707,926 915,545 6,623,471 49,224,765 59 - - - -
60 5,803,058 820,413 6,623,471 43,421,707 60 - - - -
61 5,899,776 723,695 6,623,471 37,521,932 61 - - - -
62 5,998,105 625,366 6,623,471 31,523,826 62 - - - -
63 6,098,074 525,397 6,623,471 25,425,753 63 - - - -
64 6,199,708 423,763 6,623,471 19,226,044 64 - - - -
65 6,303,037 320,434 6,623,471 12,923,007 65 - - - -
66 6,408,087 215,383 6,623,471 6,514,920 66 - - - -
67 6,514,889 108,582 6,623,471 31 67 - - - -
11/25/2020 GroFin Client Model

Applicant: FAXON INVESTMENTS LIMITED

© GroFin 2005 Estimate Estimate Estimate
Income statement Year 1 Year 2 Year 3

Breakeven/month - profit 17,975,582 16,287,938 15,645,736

Breakeven/month - cash 14,667,280 15,490,673 14,848,471
Average turnover per month 16,708,333 17,500,000 17,500,000
B/E (cash) as % of Average turnover 87.78% 88.52% 84.85%

Sales 200,500,000 210,000,000 210,000,000

Less: Cost of sales - - -

Opening stock - - -
Add: Purchases - - -
Less: Closing stock - - -

Gross profit 200,500,000 210,000,000 210,000,000

Gross profit % 100.0% 100.0% 100.0%

Less: Overheads 170,290,000 151,100,000 151,100,000

Bank charges 1,180,000 1,200,000 1,200,000
0 - - -
0 - - -
Comprehensive Insurance 16,500,000 16,500,000 16,500,000
0 - - -
0 - - -
Managing Director 4,500,000 - -
Chief Financial Officer 2,700,000 - -
Printing & Stationery 600,000 600,000 600,000
0 - - -
Office Rent 1,800,000 3,600,000 3,600,000
0 - - -
Vehicle Maintenance 48,000,000 48,000,000 48,000,000
0 - - -
Driver's Wages 11,000,000 12,000,000 12,000,000
Security Expenses 5,500,000 6,000,000 6,000,000
Telephone Costs 600,000 600,000 600,000
0 - - -
0 - - -
0 - - -
Unforseen Expenses 6,000,000 6,000,000 6,000,000
Pre-operational expenses 15,500,000 - -
Incentives 4,010,000 4,200,000 4,200,000
Depreciation 52,400,000 52,400,000 52,400,000

NPBIT 30,210,000 58,900,000 58,900,000

Less: Interest - Fund loans 45,416,989 44,355,252 36,648,832
Interest - Other loans - - -

NPBT -15,206,989 14,544,748 22,251,168

NPBT% -7.6% 6.9% 10.6%
Less: Tax - 4,363,424 6,675,350

Net profit after tax -15,206,989 10,181,324 15,575,818

NPAT% -7.6% 4.8% 7.4%

Add: Depreciation 52,400,000 52,400,000 52,400,000

Funds generated 37,193,011 62,581,324 67,975,818

Less: Capital - Fund loans 12,700,368 42,832,819 42,832,819
Capital - Other loans - - -

Net funds generated 49,893,378 105,414,143 110,808,637

 11/25/2020

Business: FAXON INVESTMENTS LIMITED Country: Uganda Payment periods: Debtors Creditors
Entrepreneur: Masiko James Currency: UGX Cash 100% 100%
© GroFin 2005 GP% Year 1 GP% Year 2 GP% Year 3 Foreign exchange rate (amount per $1): 1,700 30 days 0% 0%
Transport 100% 100% 100% Company tax rate: 30.0% 60 days 0% 0%
Department B 100% 100% 100% BDA recovery fee 5.0% 100% 100%
Department C 24% 24% 24%
FAXON INVESTMENTS LIMITED Department D 23% 23% 23%
UGX Department E 12% 12% 12%
Sales forecast Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Total
Transport 8,000,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 200,500,000
Department B - - -
Department C - - -
Department D - - - - - - - - - - - - -
Department E - - - - - - - - - - - - -
Total 8,000,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 200,500,000

Increase in inventory - - - - - - - - - -

Overhead expenses 30,206,667 20,583,334 20,583,334 15,883,334 15,883,334 15,883,334 16,183,334 16,183,334 16,142,387 16,100,758 16,058,435 16,015,406 215,706,989
Bank charges 80,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 1,180,000
- - - - - - - - - - - - -
- - - - - - - - - - - - -
Comprehensive Insurance 5,500,000 5,500,000 5,500,000 - - - - - - - 16,500,000
- - - - - - - - - - - - -
- - - - - - - - - - - - -
Managing Director - - - 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 4,500,000
Chief Financial Officer - - 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 2,700,000
Printing & Stationery 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 600,000
- - - - - - - - - - - - -
Office Rent - - - - - 300,000 300,000 300,000 300,000 300,000 300,000 1,800,000
- - - - - - - - - - - - -
Vehicle Maintenance 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 48,000,000
- - - - - - - - - - - - -
Driver's Wages - 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 11,000,000
Security Expenses - 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 5,500,000
Telephone Costs 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 600,000
- - - - - - - - - - - - -
- - - - - - - - - - - - -
- - - - - - - - - - - - -
Unforseen Expenses 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 6,000,000
Pre-operational expenses 15,500,000 - - - - - - - - - - - 15,500,000
Interest Fund - 4,166,667 4,166,667 4,166,667 4,166,667 4,166,667 4,166,667 4,166,667 4,125,720 4,084,091 4,041,768 3,998,740 45,416,989
Incentives 160,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 4,010,000
Interest Other - - - - - - - - - - - - -
Depreciation 4,366,667 4,366,667 4,366,667 4,366,667 4,366,667 4,366,667 4,366,667 4,366,667 4,366,667 4,366,667 4,366,667 4,366,667 52,400,000
 11/25/2020

FAXON INVESTMENTS LIMITED

Masiko James
© GroFin 2005

UGX
Month 13 Month 14 Month 15 Month 16 Month 17 Month 18 Month 19 Month 20 Month 21 Month 22 Month 23 Month 24 Total Year 3
### 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 210,000,000 210,000,000
-
- - - - - - - - - - - - - -
- - - - - - - - - - - - - -
- - - - - - - - - - - - - -
17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 210,000,000 210,000,000

### 31,671,661 15,127,186 15,081,970 15,036,001 14,989,265 14,941,751 14,893,444 14,844,333 14,794,403 14,743,641 14,692,032 14,639,564 195,455,252 187,748,832
100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 1,200,000 1,200,000
- - - - - - - - - - - - - -
- - - - - - - - - - - - - -
16,500,000 - - - - - - - - - 16,500,000 16,500,000
- - - - - - - - - - - - - -
- - - - - - - - - - - - - -
- - - - - - - - - - - - - -
- - - - - - - - - - - -
50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 600,000 600,000
- - - - - - - - - - - - - -
300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 3,600,000 3,600,000
- - - - - - - - - - - - - -
4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 4,000,000 48,000,000 48,000,000
- - - - - - - - - - - - - -
1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 12,000,000 12,000,000
500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 6,000,000 6,000,000
50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 600,000 600,000
- - - - - - - - - - - - - -
- - - - - - - - - - - - - -
- - - - - - - - - - - - - -
500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 6,000,000 6,000,000
- - - - - - - - - - - - - -
3,954,994 3,910,520 3,865,304 3,819,334 3,772,599 3,725,084 3,676,778 3,627,666 3,577,736 3,526,974 3,475,366 3,422,897 44,355,252 36,648,832
350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 4,200,000 4,200,000
- - - - - - - - - - - - - -
4,366,667 4,366,667 4,366,667 4,366,667 4,366,667 4,366,667 4,366,667 4,366,667 4,366,667 4,366,667 4,366,667 4,366,667 52,400,000 52,400,000
11/25/2020 GroFin Client Model

FAXON INVESTMENTS LIMITED

Balance sheet © GroFin 2005

Estimate Estimate Estimate

Year 1 Year 2 Year 3

Capital employed 252,092,643 227,147,567 199,890,566

Shareholders equity 14,793,011 24,974,334 40,550,152

Capital 30,000,000 30,000,000 30,000,000
Net income - this period -15,206,989 10,181,324 15,575,818
Retained income (b/fwd) - -15,206,989 -5,025,666

Long term loans 237,299,632 202,173,233 159,340,414

GroFin 237,299,632 202,173,233 159,340,414
Other - - -

Employment of capital 248,082,643 218,937,567 187,480,566

Fixed assets (net) 209,600,000 157,200,000 104,800,000

Net current assets 38,482,643 61,737,567 82,680,566

Current assets 38,482,643 61,737,567 82,680,566
Bank 38,482,643 61,737,567 82,680,566
Inventory - - -
Trade debtors - - -
Deposits - - -

Current liabilities - - -
Trade creditors - - -
Bank overdraft - - -
Company tax due - - -

Check -4,010,000 -8,210,000 -12,410,000

 11/25/2020 GroFin Client Model

Cash Flows FAXON INVESTMENTS LIMITED© GroFin 2005

CASH INFLOW Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Total
Cash sales 8,000,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 200,500,000
Debtors - 30 days - - - - - - - - - - - - -
Debtors - 60 days - - - - - - - - - - - - -
GroFin Loan 250,000,000 - - - - - - - - - - - 250,000,000
Existing Loan - - - - - - - - - - - - -
Own contribution 30,000,000 - - - - - - - - - - - 30,000,000
Total inflow 288,000,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 480,500,000

CASH OUTFLOW
Increase in inventory - - - - - - - - - - - - -
Cash purchases - - - - - - - - - - - - -
Creditors - 30 days - - - - - - - - - - - - -
Creditors - 60 days - - - - - - - - - - - - -
Capital expenditure 262,000,000 - - - - - - - - - - - 262,000,000
Overhead expenses 25,840,000 16,216,667 16,216,667 11,516,667 11,516,667 11,516,667 11,816,667 11,816,667 11,775,720 11,734,091 11,691,768 11,648,740 163,306,989
Company Tax - - - - - - - - - - - - -
Other repayment - - - - - - - - - - - - -
Incentives 160,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 4,010,000
GroFin repayment - - - - - - - 2,456,804 2,497,751 2,539,380 2,581,703 2,624,731 12,700,368
Total outflow 288,000,000 16,566,667 16,566,667 11,866,667 11,866,667 11,866,667 12,166,667 14,623,471 14,623,471 14,623,471 14,623,471 14,623,471 442,017,357

Surplus / (Deficit) - 933,333 933,333 5,633,333 5,633,333 5,633,333 5,333,333 2,876,529 2,876,529 2,876,529 2,876,529 2,876,529 38,482,643

Bank balance 0 933,333 1,866,666 7,499,999 13,133,332 18,766,664 24,099,997 26,976,526 29,853,055 32,729,584 35,606,114 38,482,643

CASH INFLOW Month 13 Month 14 Month 15 Month 16 Month 17 Month 18 Month 19 Month 20 Month 21 Month 22 Month 23 Month 24 Total Year 3
Cash sales 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 210,000,000 210,000,000
Debtors - 30 days - - - - - - - - - - - - - -
Debtors - 60 days - - - - - - - - - - - - - -
GroFin Loan - - - - - - - - - - - - - -
Existing Loan - - - - - - - - - - - - - -
Own contribution - - - - - - - - - - - - - -
Total inflow 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 17,500,000 210,000,000 210,000,000

CASH OUTFLOW
Cash purchases - - - - - - - - - - - - - -
Creditors - 30 days - - - - - - - - - - - - - -
Creditors - 60 days - - - - - - - - - - - - - -
Capital expenditure - - - - - - - - - - - - - -
Overhead expenses 27,304,994 10,760,520 10,715,304 10,669,334 10,622,599 10,575,084 10,526,778 10,477,666 10,427,736 10,376,974 10,325,366 10,272,897 143,055,252 135,348,832
Company Tax - - - - - - - - - - - 4,363,424 4,363,424 6,675,350
Other repayment - - - - - - - - - - - - - -
Incentives 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 350,000 4,200,000 4,200,000
GroFin repayment 2,668,477 2,712,951 2,758,167 2,804,137 2,850,872 2,898,387 2,946,693 2,995,805 3,045,735 3,096,497 3,148,105 3,200,574 35,126,399 42,832,819
Total outflow 30,323,471 13,823,471 13,823,471 13,823,471 13,823,471 13,823,471 13,823,471 13,823,471 13,823,471 13,823,471 13,823,471 18,186,895 186,745,076 189,057,002

Surplus / (Deficit) (12,823,471) 3,676,529 3,676,529 3,676,529 3,676,529 3,676,529 3,676,529 3,676,529 3,676,529 3,676,529 3,676,529 (686,895) 23,254,924 20,942,998

Bank balance 25659172 29335701 33012230 36688759 40365288 44041817 47718346 51394875 55071404 58747933 62424462 61737567 82680566
11/25/2020 GroFin Client Model

RATIO ANALYSIS
Applicant: Yr 1 Yr 2 Yr 3
FAXON INVESTMENTS LIMITED Estimate Estimate Estimate
© GroFin 2005 Ratio Comment

STRUCTURE:
Shareholder's equity / Total funding 5.9% 11.0% 20.3% Financial gearing - Owner's equity (including Fund equity)
Fund funds / Total funding 94.1% n/a n/a Fund funds proportionate to total funds (excluding Fund equity)
Other (outside) funds / Total funding 0.0% n/a n/a Other funds proportionate to total funds (incl. non-Fund shareholder's loan)

RISK
Interest cover (NPBIT / Total interest) 0.67 1.33 1.61 Times - Income cover for interest
Current ratio n/a n/a n/a Times - Current assets cover for current liabilities
Quick ratio n/a n/a n/a Times - Current assets (excluding stock) cover for current liabilities
Cash flow 1.09 n/a n/a Times - Cash in proportionate to cash out

RETURN
Return on Shareholders' Funds (PBT / SH's Funds) -102.8% 58.2% 54.9% ROI for shareholders
ROA (PBIT / Total assets) 12.2% 26.9% 31.4% Return on asset investment
Asset Turnover (Sales / Total assets) 80.8% 95.9% 112.0% Turnover contribution of assets

SENSITIVITY (% movement to reach cash breakeven)

Change in sales 12.2% 11.5% 15.2% The % that sales can change to maintain cash breakeven
Change in GP % 12.2% 11.5% 15.2% The % that GP % can change to maintain cash breakeven
Change in overheads 42.3% 106.8% 112.3% The % that overheads can change to maintain cash breakeven
Change in interest rate 109.9% 237.7% 302.4% The % that interest can change to maintain cash breakeven

TURNOVER INDICATORS
Stock turnover in days 0.00 0.00 0.00 Indicates the inventory efficiency
Debtor collection period (days) 0.00 0.00 0.00 Show customer payment behaviour
Creditor payment period (days) n/a n/a n/a Shows company's payment behaviour