| 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) | 177.1 | 334.7 | 356.8 | 329.9 | 366.2 | 362.6 | 405.1 | 413.5 | 441.3 | 472.6 | 481.7 | 492.4 | 4,633.9 | |||||||
| Proceeds of new stock issues | 25.0 | 300.0 | 325.0 | |||||||||||||||||
| Increases in longterm debt/notes | 50.0 | 250.0 | 250.0 | 550.0 | ||||||||||||||||
| Increases in other loans | 125.0 | 125.0 | ||||||||||||||||||
| Proceeds from sale of fixed assets | 50.0 | 50.0 | ||||||||||||||||||
| VAT recovered from State | 0.8 | 5.7 | 0.9 | 3.7 | 6.2 | 1.1 | 3.8 | 4.2 | 2.1 | 2.3 | 30.8 | |||||||||
| 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 | 0.2 | 0.5 | 0.2 | 0.6 | 1.5 | 1.9 | 1.7 | 6.5 | ||||||||||
| Total cash receipts | 1.0 | 187.1 | 370.5 | 422.5 | 340.8 | 380.0 | 497.8 | 721.8 | 424.9 | 705.7 | 738.2 | 495.7 | 556.3 | 5,841.2 | ||||||
| 1.0 | ||||||||||||||||||||
| CASH PAYMENTS | 1.0 | |||||||||||||||||||
| Materials/goods accounts payable (Note 2) | 116.1 | 159.6 | 161.6 | 131.7 | 145.0 | 142.2 | 166.1 | 163.3 | 181.1 | 191.2 | 190.1 | 195.8 | 1,943.7 | |||||||
| Total direct cost payments (Note 3) | 6.6 | 26.7 | 40.3 | 41.4 | 45.0 | 48.6 | 52.2 | 55.8 | 56.9 | 58.0 | 61.6 | 65.2 | 557.9 | |||||||
| Total overhead expense payments (Note 4) | 65.3 | 137.4 | 172.8 | 173.8 | 172.9 | 174.9 | 174.7 | 175.6 | 176.7 | 176.8 | 177.0 | 177.6 | 1,955.2 | |||||||
| 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 | |||||||||||||||
| 'Other loan' repayments | 25.0 | 25.0 | ||||||||||||||||||
| VAT paid on overheads, capex etc. | ||||||||||||||||||||
| VAT paid to State | 20.0 | 1.0 | 21.0 | |||||||||||||||||
| 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 | 6.8 | 7.1 | 7.4 | 8.0 | 8.4 | 11.6 | 10.3 | 7.8 | 9.1 | 11.6 | 13.4 | 12.8 | 114.2 | |||||||
| Total cash payments | 1.0 | 275.2 | 371.2 | 447.5 | 400.4 | 404.7 | 398.7 | 448.7 | 436.0 | 444.2 | 493.1 | 610.4 | 456.7 | 5,187.0 | ||||||
| 1.0 | ||||||||||||||||||||
| Net cashflow | 1.0 | (88.1) | (0.7) | (25.1) | (59.6) | (24.7) | 99.1 | 273.0 | (11.1) | 261.5 | 245.1 | (114.8) | 99.6 | 654.2 | ||||||
| Opening | 1.0 | Opening | ||||||||||||||||||
| Closing net cash balance (deficit) | (110.0) | 1.0 | (110.0) | (198.1) | (198.8) | (223.9) | (283.5) | (308.2) | (209.1) | 63.9 | 52.8 | 314.3 | 559.4 | 444.6 | 544.2 | 544.2 | ||||
| Notes on Cashflow Projections | 1.0 | |||||||||||||||||||
| 1.0 | ||||||||||||||||||||
| Note 1 | 1.0 | |||||||||||||||||||
| Cash sales & accounts receivable: | 1.0 | |||||||||||||||||||
| - Group1 | 16.0 | 86.8 | 101.9 | 101.1 | 114.4 | 102.7 | 127.0 | 117.1 | 131.5 | 145.9 | 149.1 | 146.9 | 1,340.4 | |||||||
| - Group2 | 5.3 | 32.3 | 54.3 | 68.9 | 76.9 | 77.1 | 88.3 | 98.3 | 107.8 | 114.2 | 115.7 | 124.5 | 963.5 | |||||||
| - Group3 | 2.6 | 15.9 | 26.7 | 34.0 | 37.9 | 38.0 | 43.5 | 48.4 | 53.1 | 56.3 | 57.0 | 61.3 | 474.8 | |||||||
| - Group4 | 1.6 | 8.5 | 9.6 | 10.1 | 10.6 | 10.6 | 10.6 | 10.6 | 10.6 | 10.6 | 10.6 | 10.6 | 115.0 | |||||||
| - Group5 | 3.2 | 17.0 | 19.2 | 20.2 | 21.3 | 21.3 | 21.3 | 21.3 | 21.3 | 21.3 | 21.3 | 21.3 | 230.0 | |||||||
| - Group6 | 13.3 | 74.2 | 95.1 | 95.6 | 105.0 | 112.8 | 114.4 | 117.8 | 117.0 | 124.3 | 128.0 | 127.7 | 1,225.2 | |||||||
| - Group7 | ||||||||||||||||||||
| - Group8 | ||||||||||||||||||||
| - Group9 | ||||||||||||||||||||
| - Group10 | ||||||||||||||||||||
| Opening accounts receivable | 135.0 | 100.0 | 50.0 | 285.0 | ||||||||||||||||
| 1.0 | 177.1 | 334.7 | 356.8 | 329.9 | 366.2 | 362.6 | 405.1 | 413.5 | 441.3 | 472.6 | 481.7 | 492.4 | 4,633.9 | |||||||
| Note 2 | 1.0 | |||||||||||||||||||
| Materials/goods accounts payable: | 1.0 | |||||||||||||||||||
| - Group1 | 8.6 | 32.0 | 39.3 | 41.0 | 46.4 | 41.8 | 55.8 | 46.4 | 58.6 | 63.1 | 61.2 | 60.8 | 555.2 | |||||||
| - Group2 | 3.1 | 15.0 | 28.3 | 33.8 | 35.1 | 34.8 | 41.7 | 45.5 | 49.7 | 51.0 | 51.5 | 55.4 | 444.7 | |||||||
| - Group3 | 1.4 | 6.8 | 12.8 | 15.3 | 15.9 | 15.8 | 18.9 | 20.7 | 22.5 | 23.1 | 23.3 | 25.1 | 201.8 | |||||||
| - Group4 | 0.7 | 2.4 | 2.9 | 3.2 | 3.4 | 3.4 | 3.4 | 3.4 | 3.4 | 3.4 | 3.4 | 3.4 | 36.0 | |||||||
| - Group5 | 1.2 | 4.2 | 5.1 | 5.7 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 6.0 | 64.2 | |||||||
| - Group6 | 6.1 | 24.3 | 33.2 | 32.7 | 38.2 | 40.5 | 40.2 | 41.3 | 40.9 | 44.7 | 44.6 | 45.1 | 431.8 | |||||||
| - Group7 | ||||||||||||||||||||
| - Group8 | ||||||||||||||||||||
| - Group9 | ||||||||||||||||||||
| - Group10 | ||||||||||||||||||||
| Opening accounts payable | 95.0 | 75.0 | 40.0 | 210.0 | ||||||||||||||||
| 1.0 | 116.1 | 159.6 | 161.6 | 131.7 | 145.0 | 142.2 | 166.1 | 163.3 | 181.1 | 191.2 | 190.1 | 195.8 | 1,943.7 | |||||||
| 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 | 13.2 | 13.9 | 122.8 | |||||||
| -Payroll taxes/benefits (direct) | 4.4 | 4.8 | 5.3 | 5.7 | 6.2 | 6.6 | 7.0 | 7.5 | 7.9 | 8.4 | 8.8 | 9.2 | 72.6 | |||||||
| -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) | 15.0 | 15.0 | 15.0 | 17.5 | 17.5 | 20.0 | 20.0 | 20.0 | 20.0 | 22.5 | 22.5 | 205.0 | ||||||||
| -Subcontract | ||||||||||||||||||||
| -Consumables A | ||||||||||||||||||||
| -Consumables B | ||||||||||||||||||||
| -Consumables C | ||||||||||||||||||||
| -Consumables D | ||||||||||||||||||||
| -Consumables E | ||||||||||||||||||||
| -Consumables F | ||||||||||||||||||||
| -Consumables G | ||||||||||||||||||||
| -Consumables H | ||||||||||||||||||||
| 1.0 | 6.6 | 26.7 | 40.3 | 41.4 | 45.0 | 48.6 | 52.2 | 55.8 | 56.9 | 58.0 | 61.6 | 65.2 | 557.9 | |||||||
| 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 | ||||||||
| -Cleaning | ||||||||||||||||||||
| -Utilities (fixed) | ||||||||||||||||||||
| -Other operating o'heads A | ||||||||||||||||||||
| -Other operating o'heads B | ||||||||||||||||||||
| -Other operating o'heads C | ||||||||||||||||||||
| -Other operating o'heads D | 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) | 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 | |||||||
| -Payroll taxes/benefits (overheads) | 38.2 | 38.2 | 38.2 | 38.2 | 38.2 | 38.2 | 38.2 | 38.2 | 38.2 | 38.2 | 38.2 | 38.2 | 420.2 | |||||||
| -Freight expenses | 5.3 | 6.6 | 6.5 | 7.2 | 6.6 | 7.9 | 7.8 | 8.4 | 9.1 | 9.2 | 9.3 | 9.7 | 93.6 | |||||||
| -Selling expenses/commission | 2.7 | 3.3 | 3.3 | 3.6 | 3.3 | 4.0 | 3.9 | 4.2 | 4.6 | 4.6 | 4.7 | 4.9 | 46.8 | |||||||
| -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 1 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 80.0 | |||||||||
| -Special promotion 2 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 8.0 | 80.0 | |||||||||
| -Travel expenses | ||||||||||||||||||||
| -Public relations, exhibitions | ||||||||||||||||||||
| -Miscellaneous selling/dist A | ||||||||||||||||||||
| -Miscellaneous selling/dist B | ||||||||||||||||||||
| -Miscellaneous selling/dist C | ||||||||||||||||||||
| -Miscellaneous selling/dist D | ||||||||||||||||||||
| -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 | |||||||||
| -Pensions | ||||||||||||||||||||
| -Computer supplies etc. | ||||||||||||||||||||
| -Vehicle expenses | ||||||||||||||||||||
| -Other administration A | ||||||||||||||||||||
| -Other administration B | ||||||||||||||||||||
| -Other administration C | ||||||||||||||||||||
| -Other administration D | ||||||||||||||||||||
| -Other administration E | ||||||||||||||||||||
| -Consultancy | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 110.0 | ||||||||
| -Materials | ||||||||||||||||||||
| -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 | |||||||||
| -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 | 110.0 | ||||||||
| -Insurances | ||||||||||||||||||||
| -Other establishment A | ||||||||||||||||||||
| -Other establishment B | ||||||||||||||||||||
| -Other establishment C | ||||||||||||||||||||
| -Other establishment D | ||||||||||||||||||||
| -Other establishment E | ||||||||||||||||||||
| -Other establishment F | ||||||||||||||||||||
| 1.0 | 65.3 | 137.4 | 172.8 | 173.8 | 172.9 | 174.9 | 174.7 | 175.6 | 176.7 | 176.8 | 177.0 | 177.6 | 1,955.2 | |||||||
| 1.0 | ||||||||||||||||||||