IE CLT Financial Projections | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | ||
Revenue | 41,660 | 330,000 | 440,000 | 550,000 | 660,000 | ||
Gross margin % | 50.0% | 40.0% | 30.0% | 20.0% | 20.0% | ||
Cost of sales | 20,830 | 198,000 | 308,000 | 440,000 | 528,000 | ||
Gross margin | 20,830 | 132,000 | 132,000 | 110,000 | 132,000 | ||
Research and development | 1,800 | 1,800 | 1,800 | 1,800 | 1,800 | ||
Sales and marketing | 4,000 | 7,000 | 8,000 | 8,000 | 8,000 | ||
General and administrative | 11,560 | 71,000 | 71,000 | 71,000 | 71,000 | ||
Operating expenses | 17,360 | 79,800 | 80,800 | 80,800 | 80,800 | ||
Depreciation | 1.0% | 0 | 100 | 299 | 496 | 691 | |
Operating income | 3,470 | 52,100 | 50,901 | 28,704 | 50,509 | ||
Finance costs | 0.0% | 0 | 0 | 0 | 0 | 0 | |
Income before tax | 3,470 | 52,100 | 50,901 | 28,704 | 50,509 | ||
Income tax expense | 18.0% | 625 | 9,378 | 9,162 | 5,167 | 9,092 | |
Net income | 2,845 | 42,722 | 41,739 | 23,537 | 41,417 | ||
Balance sheet | Assumptions | Opening | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
Assets | |||||||
Cash | 41,659 | 23,133 | 17,547 | 26,111 | 20,076 | 49,035 | |
Accounts receivable | 45 | 5,000 | 5,136 | 40,685 | 54,247 | 67,808 | 81,370 |
Inventory | 90 | 0 | 5,136 | 48,822 | 75,945 | 108,493 | 130,192 |
Current assets | 46,659 | 33,405 | 107,054 | 156,303 | 196,378 | 260,597 | |
Long-term assets | 0 | 0 | 9,900 | 29,601 | 49,105 | 68,414 | |
Total assets | 46,659 | 33,405 | 116,954 | 185,904 | 245,483 | 329,011 | |
Liabilities | |||||||
Accounts payable | 60 | 0 | 3,424 | 32,548 | 50,630 | 72,329 | 86,795 |
Other liabilities | 60 | 22,480 | 2,956 | 14,659 | 14,788 | 14,132 | 14,777 |
Current liabilities | 22,480 | 6,380 | 47,207 | 65,418 | 86,460 | 101,571 | |
Long-term debt | 3 | 0 | 0 | 0 | 9,000 | 24,000 | 51,000 |
Total liabilities | 22,480 | 6,380 | 47,207 | 74,418 | 110,460 | 152,571 | |
Equity | |||||||
Capital | 0 | 0 | 0 | 0 | 0 | 0 | |
Retained earnings | 24,179 | 27,024 | 69,746 | 111,485 | 135,022 | 176,440 | |
Total equity | 24,179 | 27,024 | 69,746 | 111,485 | 135,022 | 176,440 | |
Total liabilities and equity | 46,659 | 33,405 | 116,954 | 185,904 | 245,483 | 329,011 | |
Cash Flow Statement | Assumptions | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |
Net income | 2,845 | 42,722 | 41,739 | 23,537 | 41,417 | ||
Add back depreciation | 0 | 100 | 299 | 496 | 691 | ||
Changes in working capital | |||||||
Accounts receivable | -136 | -35,549 | -13,562 | -13,562 | -13,562 | ||
Inventory | -5,136 | -43,686 | -27,123 | -32,548 | -21,699 | ||
Accounts payable | 3,424 | 29,124 | 18,082 | 21,699 | 14,466 | ||
Other liabilities | -19,524 | 11,703 | 129 | -657 | 645 | ||
Cash flows from operating activities | 8,526 | 4,414 | 19,564 | 1,034 | 21,959 | ||
Amount paid for long-term assets | 0 | -10,000 | -20,000 | -20,000 | -20,000 | ||
Cash flows from investing activities | 0 | -10,000 | -20,000 | -20,000 | -20,000 | ||
Proceeds from long-term debt | 4 | 0 | 0 | 12,000 | 24,000 | 48,000 | |
Proceeds from issue of share capital | 0 | 0 | 0 | 0 | 0 | ||
Repayment of long-term debt | 0 | 0 | -3,000 | -9,000 | -21,000 | ||
Cash flow from financing activities | 0 | 0 | 9,000 | 15,000 | 27,000 | ||
Cash flow | 0 | 8,526 | 5,586 | 8,564 | 6,034 | 8,959 | |
Beginning cash balance | 41,659 | 23,133 | 17,547 | 26,111 | 20,076 | ||
Ending cash balance | 23,133 | 17,547 | 26,111 | 20,076 | 49,035 |