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Cyclermate Ltd.

Draft Statement of Financial Position - 30 December 2012 Budget Income Statement - last five years

Non-current Assets Cost Depreciation Net 12/31/2013 year to 12/30/2012 12/30/2011 12/30/201

units units units units

Freehold land 170,000 170,000 950 direct sales units 1,055 1,178 96

Freehold factory 80,000 32,000 48,000 1,300 shop sales units 1,450 1,621 1,33

Machinery and equipment 15,000 12,200 2,800 2,250 Total units 2,505 2,799 2,30

220,800

Current Assets

Stocks of materials 102,300 700 direct sales price 730 760 72

Stock of finished machines 185,790 420 shop sales price 438 456 43

Trade debtors 200,571 1,211,000 Total revenue 1,405,250 1,634,456 1,272,52

Cash in hand 657 489,318

Total Assets 710,118 376 Direct material unit cost 360 335 31

846,000 Total direct materials 901,800 937,665 722,51Share capital 30,000 55,100 Indirect materials 53,456 48,720 41,07

Retained profits 205,254 74,100 Administrative costs 74,381 66,497 59,45

Shareholders' Funds 235,254 68,040 Selling and distribution 65,976 64,786 58,73

Loan from Geraint Williams 200,000 249,340 Wages and salaries 260,689 215,594 181,91

Current Liabilities 1,292,580 Total costs 1,356,302 1,333,262 1,063,70

Trade creditors 87,500 (81,580) Trading profit (loss) 48,948 301,194 208,82

Bank overdraft 187,364 274,864 (36,000) Interest payable (30,401) (25,860) (22,67

Total Capital and Liabilities 710,118 35,274 Taxation (5,564) (82,600) (55,84

(82,306) Shareholder profit 12,983 192,734 130,30

0 Dividends paid 0 (150,000) (90,00Notes (82,306) Profit Retained 12,983 42,734 40,30

Stocks of finished machines are valued at direct cost

Trade debtors represents amounts owing from cycle shop customers

The bank overdraft is unsecured

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Cyclermate Ltd.

Budget - year to 30/6/2014

Sales units price Indirect Materials Annual

direct mail order and internet 1,100 700 Workshop materials, including paint 18,400

cycle shop 1,400 420 Repairs and renewals 35,700

54,100cycles Administrative costs

Direct costs unit price made Business rates 43,000

Frame tube set 75.50 1 Heating, lighting and power 21,200

Frame lug set, including brackets 32.45 1 Other sundry expenses 5,300

Front fork 26.00 1 Depreciation 4,600

Headset 9.46 1 74,100

Bottom bracket 7.42 1 Selling and Distribution costs

Chain and chainset 14.30 1 Advertising 40,000

Pedals (set) 8.00 1 Packaging and sundry materials 14,890

Saddle, post and clamps 32.90 1 Travelling and hospitality 15,620Handlebars, stem and grips 15.40 1 Postage and courier charges 27,000

Brake levers and cables 19.10 1 97,510

Alloy extrusion (wheel rims) 86.50 8 Wages and salaries (including oncosts)

Spokes (72 set for two wheels) 4.60 1 Dai Armstrong 38,000

Sturmey-archer gear and brake hub 52.87 1 Ffred Gregory 14,250

Dynamo and brake front hub 33.50 1 Janice Jones 12,300

Tyres and inner tubes (set of two) 10.35 1 Maldwyn Jones 26,525

Steel sheet (mudguards and chainguard) 24.00 10 Lewis Llewellyn 38,000

Wire (mudguard stays) 8.00 20 Emlyn Morgan 28,200

Paint 18.00 12 Gwyneth Morgan 14,327

Basket 3.00 1 Ianto Pritchard 7,350

Rear carrier 5.20 1 Idris Pugh 19,534

Pump and brackets 1.80 1 Frieda Schleck 27,654

Lock 3.20 1 Gladys Wells 3,200

Lamps 4.89 1 229,340

Assorted minor parts (kit) 1.00 1

Interest Payable 20,000