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Financial Annexures

Mar 06, 2016

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Shishir Dhakal

Financial Annexures
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Projected Balance SheetParticularsYear 0Year 1Year 2Year 3Year 4Year 5Year 6

Source of Funds

Shareholders fund

Equity Capital 10,380,000.00 10,380,000.00 10,380,000.00 10,380,000.00 10,380,000.00 10,380,000.00 10,380,000.00

Reserve & Accumulated profit - (1,922,109.37) (2,285,611.31) 341,379.13 6,899,620.95 16,564,639.45 30,923,325.39

Total Equity 10,380,000.00 8,457,890.63 8,094,388.69 10,721,379.13 17,279,620.95 26,944,639.45 41,303,325.39

Loans

Long term loan 6,920,000.00 6,536,046.41 6,103,903.26 5,617,522.34 5,070,096.33 4,453,963.53 3,760,500.64

Total Loan 6,920,000.00 6,536,046.41 6,103,903.26 5,617,522.34 5,070,096.33 4,453,963.53 3,760,500.64

Total 17,300,000.00 14,993,937.04 14,198,291.96 16,338,901.47 22,349,717.29 31,398,602.99 45,063,826.03

Application of Funds

Fixed Assets 16,071,690.00 16,071,690.00 16,391,690.00 17,911,690.00 22,181,690.00 23,501,690.00 23,671,690.00

Less: Acc Depreciation - 2,452,983.00 4,980,966.00 7,686,949.00 11,245,432.00 14,883,915.00 18,555,398.00

Less:Acc amortization - 60,000.00 120,000.00 180,000.00 240,000.00 300,000.00 300,000.00

Fixed Assets (Net of Dep) 16,071,690.00 13,558,707.00 11,290,724.00 10,044,741.00 10,696,258.00 8,317,775.00 4,816,292.00

Current Assets

Inventory - 17,478.86 25,839.47 36,374.06 46,940.80 55,098.41 65,023.77

Receivables - 931,228.77 1,285,439.18 2,108,906.54 3,164,297.91 3,970,510.63 5,287,793.68

Cash and bank balances 78,310.00 259,433.99 1,784,554.53 6,199,273.02 13,064,279.02 25,714,530.43 44,658,194.73

Total Current Assets 78,310.00 1,208,141.63 3,095,833.18 8,344,553.62 16,275,517.74 29,740,139.48 50,011,012.18

Less: Current Liabilities & Provisions

Working Capital Loan - 563,184.20 812,053.71 1,399,604.54 2,181,953.48 2,764,869.21 3,692,780.10

Payables - 244,727.38 296,211.51 395,774.93 483,796.86 569,522.53 736,842.33

Provision for tax - - - 921,751.03 2,301,137.48 3,391,234.56 5,038,135.41

Dividend payable - - - 138,262.65 345,170.62 508,685.18 755,720.31

Net Current Assets 78,310.00 400,230.04 1,987,567.96 5,489,160.47 10,963,459.29 22,505,827.99 39,787,534.03

Preliminary Expenditure not written off 1,150,000.00 1,035,000.00 920,000.00 805,000.00 690,000.00 575,000.00 460,000.00

Total Application 17,300,000.00 14,993,937.04 14,198,291.96 16,338,901.47 22,349,717.29 31,398,602.99 45,063,826.03

Current Liabilities 807,911.58 1,108,265.22 2,855,393.15 5,312,058.45 7,234,311.49 10,223,478.15

Total Assets 14,766,848.63 14,386,557.18 18,389,294.62 26,971,775.74 38,057,914.48 54,827,304.18

Projected Profit and Loss AccountParticularsYear 1Year 2Year 3Year 4Year 5Year 6

Revenue

Fee Income 7,315,700 10,206,840 16,811,275 25,307,977 31,826,736 42,437,271

Other Income 237,600 219,500 294,300 357,995 378,517 452,611

Total Income 7,553,300 10,426,340 17,105,575 25,665,972 32,205,253 42,889,882

Less: Expenditure 5,955,033 7,207,813 9,630,523 11,772,390 13,858,382 17,929,830

Profit before Dep & Interest 1,598,267 3,218,527 7,475,052 13,893,582 18,346,871 24,960,052

Less: Dep & Amortization

Depreciation 2,452,983 2,527,983 2,705,983 3,558,483 3,638,483 3,671,483

Amortization 60,000 60,000 60,000 60,000 60,000 -

Amortizatiom-Preliminary expenses 115,000 115,000 115,000 115,000 115,000 115,000

Profit before interest (1,029,716) 515,544 4,594,069 10,160,099 14,533,388 21,173,569

Interest on loan 892,393 879,046 907,065 955,549 968,450 1,021,027

Profit Before Tax (1,922,109) (363,502) 3,687,004 9,204,550 13,564,938 20,152,542

Less: Income tax(25%) - 921,751 2,301,137 3,391,235 5,038,135

Net Profit after Tax (1,922,109) (363,502) 2,765,253 6,903,412 10,173,704 15,114,406

Dividend to Shareholder (5%) - 138,263 345,171 508,685 755,720

Previous Year's Profit (1,922,109) (2,285,611) 341,379 6,899,621 16,564,639

Cumulative Profit forwarded to B/S (1,922,109) (2,285,611) 341,379 6,899,621 16,564,639 30,923,325

Projected Cash Flow StatementDescriptionYear 1Year 2Year 3Year 4Year 5Year 6

1. Cash Flow from Operating Activities

NPBT-1,922,109-363,5023,687,0049,204,55013,564,93820,152,542

Add: Depreciation2,452,9832,527,9832,705,9833,558,4833,638,4833,671,483

Add: Amortization60,00060,00060,00060,00060,000 -

Add: Preliminary Exp written off115,000115,000115,000115,000115,000115,000

add: int paid892,393879,046907,065955,549968,4501,021,027

Less:Tax Paid - - - (921,751) (2,301,137) (3,391,235)

Cash Flow before change in WC

Adjustments for:

Decrease/(Increase) in Inventories (17,479) (8,361) (10,535) (10,567) (8,158) (9,925)

Decrease/(Increase) in S.Debtors (931,229) (354,210) (823,467) (1,055,391) (806,213) (1,317,283)

Increase/(Decrease) in Trade Payables 807,912 300,354 687,114 870,371 668,641 1,095,231

Net Cash Flow from Operating Activities 1,457,471 3,156,309 7,328,164 12,776,243 15,900,005 21,336,840

2. Cash Flow from Investing activities

Sales/(Purchase) in Fixed Assets - (320,000) (1,520,000) (4,270,000) (1,320,000) (170,000)

Net Cash Flow from Investing Activities - (320,000) (1,520,000) (4,270,000) (1,320,000) (170,000)

3. Cash Flow from Financing Activities

Increase/(Decrease) in Equity Share Capital - - - - - -

Increase/(Decrease) in Long term Loans (383,954) (432,143) (486,381) (547,426) (616,133) (693,463)

Int paid (892,393) (879,046) (907,065) (955,549) (968,450) (1,021,027)

Dividend Paid - - - (138,263) (345,171) (508,685)

Net Cash Flow from Financing Activities (1,276,347) (1,311,189) (1,393,446) (1,641,237) (1,929,753) (2,223,176)

Net Increase in Cash & Cash Equivalents 181,124 1,525,121 4,414,718 6,865,006 12,650,251 18,943,664

Cash & Cash Equivalents: Opening 78,310 259,434 1,784,555 6,199,273 13,064,279 25,714,530

Cash & Cash Equivalents: Closing 259,434 1,784,555 6,199,273 13,064,279 25,714,530 44,658,195

Payback Period calculationYearInvestment Equity and LoanNet ProfitDepreciation, Interest and AmortizationAnnual Cash FlowCumulative Cash InflowPayback Period

Year 0(17,300,000)(17,300,000)(17,300,000)

Year 1(1,922,109)2,627,983705,874(16,594,126)

Year 2(363,502)2,702,9832,339,481(14,254,645)

Year 32,765,2532,880,9835,646,236(8,608,409)

Year 46,903,4123,733,48310,636,8952,028,4863.81

Year 510,173,7043,813,48313,987,18716,015,673

Year 615,114,4063,786,48318,900,88934,916,562

Net Present Value & IRR of the ProjectS.No.YearInvestment Equity and LoanNet ProfitDepreciation, Interest and AmortizationAnnual Cash Flow

Year 0 (17,300,000) (17,300,000)Cost of capital9%

Year 1 (1,922,109) 2,627,983 705,874

1Year 2 (2,285,611) 2,702,983 417,372

2Year 3 341,379 2,880,983 3,222,362

3Year 4 6,899,621 3,733,483 10,633,104

4Year 5 16,564,639 3,813,483 20,378,122

5Year 6 30,923,325 3,786,483 34,709,808

NPV 27,660,604

IRR32.04%

School Income DetailParticularsYear 1Year 2Year 3Year 4Year 5Year6

Fee Income 7,315,700 10,206,840 16,811,275 25,249,177 31,688,136 42,178,089

Computer Fee Income - - - 58,800 138,600 259,182

Bus Fee Income 70,560 80,640 123,200 172,480 201,600 247,520

Total Income From Fee 7,315,700 10,206,840 16,811,275 25,307,977 31,826,736 42,437,271

Other Income

ParticularsYear 1Year 2Year 3Year 4Year 5Year 6

Diary , Tie and Belt Income 58,800 41,300 71,400 94,325 94,675 121,800

Dress Commission 29,400 37,800 57,750 80,850 94,500 116,025

Canteen Income 120,000 132,000 145,200 159,720 175,692 193,261

Form Sales Income 29,400 8,400 19,950 23,100 13,650 21,525

Total Other Income 237,600 219,500 294,300 357,995 378,517 452,611

Total income 7,553,300 10,426,340 17,105,575 25,665,972 32,205,253 42,889,882

School Expenses Detail Particulars Year 1 Year 2 Year 3 Year 4 Year 5 Year 6

Land rent 216,000 237,600 261,360 287,496 316,246 347,870

Utility 214,000 295,600 409,840 569,776 793,686 1,107,161

Consumables 75,533 104,263 171,056 256,660 322,053 428,899

Salary expenses 4,134,000 5,076,500 7,068,100 8,719,425 10,254,387 13,570,743

Other administrative expenses 811,000 875,400 972,673 1,045,914 1,115,055 1,209,161

Scholarship 304,500 408,450 526,995 661,595 813,854 1,010,739

Miscellaneous Expenditure 200,000 210,000 220,500 231,525 243,101 255,256

Total 5,955,033 7,207,813 9,630,523 11,772,390 13,858,382 17,929,830

Working Capital Requirement AnalysisDescriptionDays OutstandingYear 1Year 2Year 3Year 4Year 5Year 6

Current assets

Receivables45 931,229 1,285,439 2,108,907 3,164,298 3,970,511 5,287,794

Inventory- Consumables & 45 17,479 25,839 36,374 46,941 55,098 65,024

Total CA 948,708 1,311,279 2,145,281 3,211,239 4,025,609 5,352,817

Current Liabilities

Expenses Payable15 244,727 296,212 395,775 483,797 569,523 736,842

Net Working Capital 703,980 1,015,067 1,749,506 2,727,442 3,456,087 4,615,975

Working Capital Loan (@80% of NWC) 563,184 812,054 1,399,605 2,181,953 2,764,869 3,692,780

Staff SalaryDesignationPer MonthYear 1Year2Year 3Year 4year 5Year 6

Principal 50,000 50,000 55,000 60,500 66,550 73,205 80,526

Vice Principal 40,000 40,000 44,000 48,400 53,240 58,564 64,420

Accountant Cum Receptionist 15,000 15,000 16,500 18,150 19,965 43,923 96,631

Preprimary Teacher 7,500 45,000 49,500 72,600 79,860 87,846 112,736

Primary Teachers 9,000 81,000 118,800 130,680 143,748 158,123 173,935

Secondary Teachers 12,000 - - 96,000 171,600 217,800 351,384

Peon & Sweepers 5,000 20,000 33,000 36,300 46,585 51,244 56,368

Guard 8,000 16,000 17,600 19,360 21,296 23,426 25,768

Dance Teacher 10,000 10,000 11,000 12,100 13,310 14,641 16,105

Music Teacher 10,000 10,000 11,000 12,100 13,310 14,641 16,105

Sports Teacher 10,000 10,000 11,000 12,100 13,310 14,641 16,105

Gardener 5,000 5,000 5,500 6,050 6,655 7,321 8,053

Driver 8,000 16,000 17,600 19,360 21,296 23,426 25,768

Total (per month) 318,000 390,500 543,700 670,725 788,799 1,043,903

Total( in a yr) 4,134,000 5,076,500 7,068,100 8,719,425 10,254,387 13,570,743

Fixed Assets & Depreciation ScheduleAssetsParticularsAmount

Building 5,210,000

Furniture 1,112,000

Computer and Others 1,180,400

Machinery 689,500

Vehicles 7,200,000

Intangible Assets 300,000

Other Assets 379,790

Total 16,071,690

DepreciationYear1Year1Year2Year3Year4Year5Year6RateUseful yearYear1Year2Year3Year4Year5Year6

Building 5,210,000 5,210,000 5,210,000 5,210,000 5,210,000 5,210,000 0.055260,500260,500260,500260,500260,500260,500

Furnitures 1,112,000 1,412,000 1,612,000 1,732,000 1,852,000 1,972,000 0.25278,000353,000403,000433,000463,000493,000

Computer and Others 1,180,400 1,180,400 1,680,400 1,680,400 1,880,400 1,880,400 0.25295,100295,100420,100420,100470,100470,100

Machinery 689,500 689,500 709,500 859,500 859,500 879,500 0.15103,425103,425106,425128,925128,925131,925

Vehicles 7,200,000 7,200,000 7,200,000 11,200,000 11,200,000 11,200,000 0.201,440,0001,440,0001,440,0002,240,0002,240,0002,240,000

Other Assets 379,790 379,790 379,790 379,790 379,790 379,790 75,958 75,958 75,958 75,958 75,958 75,958

Total2,452,9832,527,9832,705,9833,558,4833,638,4833,671,483

Acc depn2,452,9834,980,9667,686,94911,245,43214,883,91518,555,398

RatiosRatiosYear 1Year 2Year 3Year 4Year 5Year 6

Current Ratio 1.50 2.8 2.9 3.1 4.1 4.9

Debt equity ratio0.770.750.520.290.170.09

ROA-13%-3%15%26%27%28%

ROE-23%-4%26%40%38%37%

Net profit margin-25%-3%16%27%32%35%

Gross Profit Margin21%31%44%54%57%58%