| 12 Months | 1.0 | 2004 | 2004 | 2004 | 2004 | 2004 | 2004 | 2004 | 2004 | 2004 | 2004 | 2004 | 2004 | 2004 | ||||||
| to end Dec | 1.0 | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year | ||||||
| CASHFLOW PROJECTIONS | 1.0 | $000 | $000 | $000 | $000 | $000 | $000 | $000 | $000 | $000 | $000 | $000 | $000 | $000 | ||||||
| 1.0 | ||||||||||||||||||||
| CASH RECEIPTS | 1.0 | |||||||||||||||||||
| Cash sales & accounts receivable (Note 1) | 164.4 | 261.8 | 248.0 | 197.7 | 220.6 | 216.7 | 242.6 | 236.1 | 249.7 | 271.5 | 278.4 | 276.0 | 2,863.5 | |||||||
| Proceeds of new stock issues | 25.0 | 100.0 | 125.0 | |||||||||||||||||
| Increases in longterm debt/notes | 50.0 | 250.0 | 250.0 | 550.0 | ||||||||||||||||
| Proceeds from sale of fixed assets | 35.0 | 35.0 | ||||||||||||||||||
| VAT recovered from State | ||||||||||||||||||||
| Capital grants/subsidies received | ||||||||||||||||||||
| Revenue grants/subsidies received | ||||||||||||||||||||
| 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 | 0.0 | 0.0 | 0.1 | 0.4 | 0.6 | 1.0 | 0.7 | 2.9 | ||||||||||||
| Total cash receipts | 1.0 | 174.5 | 296.8 | 308.0 | 207.7 | 230.6 | 226.7 | 352.7 | 246.1 | 510.2 | 532.1 | 289.4 | 321.7 | 3,696.4 | ||||||
| 1.0 | ||||||||||||||||||||
| CASH PAYMENTS | 1.0 | |||||||||||||||||||
| Materials/goods accounts payable (Note 2) | 104.7 | 110.8 | 86.4 | 50.5 | 55.2 | 56.6 | 60.0 | 60.3 | 62.8 | 66.9 | 68.5 | 69.5 | 852.3 | |||||||
| Total direct cost payments (Note 3) | 6.6 | 11.7 | 25.3 | 26.4 | 27.5 | 31.1 | 32.2 | 35.8 | 36.9 | 38.0 | 40.4 | 44.9 | 356.4 | |||||||
| Total overhead expense payments (Note 4) | 49.6 | 102.8 | 129.8 | 130.3 | 129.9 | 130.8 | 130.4 | 130.7 | 131.2 | 131.4 | 131.1 | 131.7 | 1,459.7 | |||||||
| Taxes paid | ||||||||||||||||||||
| Dividends paid | ||||||||||||||||||||
| Finance lease debt repayments | 10.0 | 10.0 | 10.0 | 10.0 | 18.0 | 10.0 | 10.0 | 18.0 | 10.0 | 8.0 | 114.0 | |||||||||
| Finance lease interest paid | 5.0 | 5.0 | 5.0 | 5.0 | 10.0 | 5.0 | 5.0 | 10.0 | 5.0 | 5.0 | 60.0 | |||||||||
| Capital expenditure payments | 45.0 | 150.0 | 195.0 | |||||||||||||||||
| Operating lease 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/note repayments | 25.0 | 25.0 | 25.0 | 25.0 | 100.0 | |||||||||||||||
| VAT paid on overheads, capex etc. | ||||||||||||||||||||
| VAT paid to State | 20.0 | 3.2 | 3.4 | 2.9 | 3.6 | 2.3 | 4.1 | 3.1 | 3.9 | 4.4 | 4.6 | 4.2 | 59.5 | |||||||
| Opening payroll taxes/benefits paid | 25.0 | 25.0 | ||||||||||||||||||
| Changes in prepaid expenses | (10.0) | (10.0) | ||||||||||||||||||
| Changes in accrued expenses | 20.0 | 20.0 | ||||||||||||||||||
| Interest paid | 3.7 | 3.9 | 3.9 | 4.3 | 4.6 | 4.8 | 4.9 | 4.0 | 5.4 | 5.6 | 7.5 | 6.8 | 59.2 | |||||||
| Total cash payments | 1.0 | 245.1 | 272.8 | 314.1 | 259.8 | 254.3 | 246.1 | 277.0 | 267.3 | 260.7 | 276.8 | 420.5 | 262.5 | 3,357.1 | ||||||
| 1.0 | ||||||||||||||||||||
| Net cashflow | 1.0 | (70.6) | 24.0 | (6.1) | (52.1) | (23.7) | (19.4) | 75.7 | (21.2) | 249.5 | 255.4 | (131.1) | 59.2 | 339.4 | ||||||
| Opening | 1.0 | Opening | ||||||||||||||||||
| Closing net cash balance (deficit) | (110.0) | 1.0 | (110.0) | (180.6) | (156.6) | (162.7) | (214.8) | (238.5) | (258.0) | (182.3) | (203.5) | 45.9 | 301.3 | 170.2 | 229.4 | 229.4 | ||||
| Notes on Cashflow Projections | 1.0 | |||||||||||||||||||
| 1.0 | ||||||||||||||||||||
| Note 1 | 1.0 | |||||||||||||||||||
| Cash sales & accounts receivable: | 1.0 | |||||||||||||||||||
| - Group1 | 16.1 | 87.2 | 102.5 | 101.7 | 115.0 | 103.3 | 127.6 | 117.7 | 132.1 | 146.6 | 149.8 | 147.7 | 1,347.1 | |||||||
| - Group2 | 13.4 | 74.6 | 95.6 | 96.1 | 105.5 | 113.4 | 115.0 | 118.4 | 117.6 | 125.0 | 128.6 | 128.4 | 1,231.4 | |||||||
| Opening accounts receivable | 135.0 | 100.0 | 50.0 | 285.0 | ||||||||||||||||
| 1.0 | 164.4 | 261.8 | 248.0 | 197.7 | 220.6 | 216.7 | 242.6 | 236.1 | 249.7 | 271.5 | 278.4 | 276.0 | 2,863.5 | |||||||
| Note 2 | 1.0 | |||||||||||||||||||
| Materials/goods accounts payable: | 1.0 | |||||||||||||||||||
| - Group1 | 3.6 | 13.0 | 16.0 | 17.5 | 18.9 | 18.1 | 20.7 | 20.0 | 22.2 | 24.3 | 24.9 | 25.1 | 224.2 | |||||||
| - Group2 | 6.1 | 22.9 | 30.3 | 33.0 | 36.4 | 38.4 | 39.3 | 40.3 | 40.6 | 42.7 | 43.7 | 44.4 | 418.1 | |||||||
| Opening accounts payable | 95.0 | 75.0 | 40.0 | 210.0 | ||||||||||||||||
| 1.0 | 104.7 | 110.8 | 86.4 | 50.5 | 55.2 | 56.6 | 60.0 | 60.3 | 62.8 | 66.9 | 68.5 | 69.5 | 852.3 | |||||||
| Note 3 | 1.0 | |||||||||||||||||||
| Direct cost payments: | 1.0 | |||||||||||||||||||
| -Wages and salaries (direct) | 6.6 | 7.3 | 7.9 | 8.6 | 9.2 | 9.9 | 10.6 | 11.2 | 11.9 | 12.5 | 14.5 | 15.2 | 125.4 | |||||||
| -Payroll taxes/benefits (direct) | 4.4 | 4.8 | 5.3 | 5.7 | 6.2 | 6.6 | 7.0 | 7.5 | 7.9 | 8.4 | 9.7 | 10.1 | 73.5 | |||||||
| -Energy (variable) | 12.5 | 12.5 | 12.5 | 15.0 | 15.0 | 17.5 | 17.5 | 17.5 | 17.5 | 20.0 | 157.5 | |||||||||
| -Repairs/maintenance (variable) | ||||||||||||||||||||
| -Subcontract | ||||||||||||||||||||
| -Consumables | ||||||||||||||||||||
| 1.0 | 6.6 | 11.7 | 25.3 | 26.4 | 27.5 | 31.1 | 32.2 | 35.8 | 36.9 | 38.0 | 40.4 | 44.9 | 356.4 | |||||||
| Note 4 | 1.0 | |||||||||||||||||||
| Overhead expense payments: | 1.0 | |||||||||||||||||||
| -Repairs/maintenance (fixed) | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 27.5 | ||||||||
| -Power (fixed) | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 27.5 | ||||||||
| -Other 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 | 55.0 | ||||||||
| -Wages and salaries (overheads) | 45.9 | 45.9 | 45.9 | 45.9 | 45.9 | 45.9 | 45.9 | 45.9 | 45.9 | 45.9 | 45.9 | 45.9 | 550.8 | |||||||
| -Payroll taxes/benefits (overheads) | 30.6 | 30.6 | 30.6 | 30.6 | 30.6 | 30.6 | 30.6 | 30.6 | 30.6 | 30.6 | 30.6 | 30.6 | 336.6 | |||||||
| -Freight expenses | 3.7 | 4.3 | 3.8 | 4.3 | 3.9 | 4.8 | 4.4 | 4.7 | 5.2 | 5.4 | 5.1 | 5.7 | 55.3 | |||||||
| -Advertising & brochures | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 80.0 | |||||||||
| -Special promotion | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 80.0 | |||||||||
| -Miscellaneous selling/dist | ||||||||||||||||||||
| -Office supplies etc. | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 | 16.5 | ||||||||
| -Mail, telephone, telex & fax | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 25.0 | |||||||||
| -Travel | 5.0 | 5.0 | 5.0 | 5.0 | 5.0 | 5.0 | 5.0 | 5.0 | 5.0 | 5.0 | 50.0 | |||||||||
| -Computer supplies etc. | ||||||||||||||||||||
| -Other administration | ||||||||||||||||||||
| -Utilities | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 5.5 | ||||||||
| -Rent & property taxes | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 | 40.0 | |||||||||
| -Insurances | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 110.0 | ||||||||
| -Other establishment | ||||||||||||||||||||
| 1.0 | 49.6 | 102.8 | 129.8 | 130.3 | 129.9 | 130.8 | 130.4 | 130.7 | 131.2 | 131.4 | 131.1 | 131.7 | 1,459.7 | |||||||
| 1.0 | ||||||||||||||||||||