TABLE 1.

Row Elements Product / service 1 Product / service 2 Product / service 3 TOTAL

1 Product name / service
kolski prevoz Izleti Druge destinacije
2 Unit of measure
1 1 1
3 Volume of production /service 2,855 2,100 1,697
4 Sale price
5 5 5
5 Sales 14,275.00 10,500.00 8,485.00 33,260.00
-
Base year
1st year 2nd year 3rd year
Sales growth per year 1.00 1.40 1.80
Sesonal oscilations according to months (fill if there are seasonal oscilations)
Product group/ month 1 2 3 4 5 6
(Average: 8.3333% / 1 month) 0.0833 0.0833 0.0833 0.0833 0.0833 0.0833
7 8 9 10 11 12
0.0833 0.0833 0.0833 0.0833 0.0833 0.0833
Control sum (100.00) 1.00
B. Value Chain: Investment in Vaule Chain/ Costs
Investment Costs
TABLE 2.1. TABLE 2.2.
Investments in Value Chain Depreciation
Form of investment- total Amount Asset Historical price Useful life (in
years)
% of depreciation 1st year 2nd year 3rd year Remained
value
1- Investments in long-term assets Intangible assets 39,737 10.00 3,974 3,974 3,974 27,816
1.0 - Intangible assets 39737
Buildings 500 0.00 0 0 0 500
1.1. Land 0.00 Equipment 3,400 20.00 680 680 680 1,360
1.2. Infrastruture and buildings 500.00
1.3. Equipment 1,800.00 Total 3,900 4,654 4,654 4,654 1,860
1.4. Base herd 0.00
2- Investments in working capital 10,000.00 Working capital is going to be calculated in D. based on logic of business process (T.4.5.) - formula
Total 49,737.00
Detailed specification of investments:
Land Amount Working capital category Connecting days
1. Materials inventory
2. Work in progress inventory
3. Finished goods inventory
Total 0.00 4. Accounts Receivable
5. Cash 10000
Detailed specification of investments
Infrastructure and buildings Amount
Table 2.3. Costs of (material) inputs
Renta 500.00
Dva kombija 39,737.00 Row Elements Product / service 1 Product / service 2 Product / service 3 1st year
Elektrina energija Voda Plin
5 Sales 80.00 40.00 90.00 33,260.00
Control
Total 40,237.00 Cost of tangible inputs (to be estimated as % of sales) 1.00% 1.00% 1.00% 0.03
0.80 0.40 0.90 2.10
Costs
Detailed specification of investments: 1.
Equipment Amount
2.
Oprema (raunar, tampa, skener) 2,200.00
Sitni inventar 300.00 M1 Production: costs of materials - inputs, energy, packaging, ... 0
Uredska oprema 800.00 M2 Trade: costs of buyed goods, all costs related to buyed goods to be sold
Telefax 100.00 M3 Service: costs directly related to delivering service, very often these costs are incorporated in "Other business expenses" (T.3.2.)
Total 3,400.00
Table 2.4.Cost of goods sold (COGS) being calculated automatically from T. 2.2. and T. 3.1. (direct labor) 1st year
Detailed specification of investments: Product / service 1 Product / service 2 Product / service 3
Base herd Amount Cost of tangible inputs 210.00 0.40 0.90 211.30
Direct labor (direct wages) 600.00 4,800.00 4,800.00 10,200.00
COGS 810.00 4,800.40 4,800.90 10,411.30
Note: COGS = Costs of material inputs+Direct wages being calculated automatically from T. 2.2. and T. 3.1. (direct labor)
Total - Key for costs allocation 8% 46% 46% 1
C. Organization&Mgmt/ Costs
TABLE 3.1. Number of employees (Salary Expense)
Phase of business process Total Average net
monthly
salary
1st year 2nd year 3rd year Food
allowance and
travelling
expenses
1. Basic business process - Direct salaries (first year) 1,200 14,400 20,160 25,920
2. Other parts of the business process - Indirect salaries: 372 4,464 4,464 4,464
2.1. Administration 100 1,200 1,200 1,200
2.2. Marketing 50 600 600 600
2.3. Other phase of the business process 0 0 0
Total employees 2 1,200.00 18,864 24,624 30,384
Contributions 69.30% 1.69
TABLE 3.2. Other business expenses - treated as fixed costs
Cost Monthly 1st year 2nd year 3rd year
1. Office materials 100 x 1,200.00 1,200.00 1,200.00
2. Maintenance 50 x 600.00 600.00 600.00
3. Rent 500 x 6,000.00 6,000.00 6,000.00
4. Utilities 210 x 2,520.00 2,520.00 2,520.00
5. Tranportation costs / mainteinance of vehicles 600 x 7,200.00 7,200.00 7,200.00
6. Advertising cost 50 x 600.00 600.00 600.00
7. Travell allowance x 0.00 0.00 0.00
8. Research&Design x 0.00 0.00 0.00
9. Expert fees x 0.00 0.00 0.00
10. Insurance 170 x 2,040.00 2,040.00 2,040.00
11. Business taxes x 0.00 0.00 0.00
12. Outsorucing 1 80 x 960.00 960.00 960.00
13. Outsourcing 2 x 0.00 0.00 0.00
14. Other expenses x 0.00 0.00 0.00
Total 1,760.00 21,120.00 21,120.00 21,120.00
Note:
In general, "Other business expenses" could be treated as "fixed costs"
x - fixed costs
TABELA 4.1.1.
Total asset requirements
Mode of investments Amount %
0 - Intangible assets 39,737.00 94.53%
1.1. Land - 0.00%
1.2. Infrastruture and buildings 500.00 1.19%
1.3. Equipment 1,800.00 4.28%
1.4. Base herd - 0.00%
Investments in long-term assets 42,037.00 80.78%
Investment in working capital 10,000.00 19.22%
Total 52,037.00 100.00%
TABELA 4.1.2.
Sources of financing
Mode of investments Amount %
1.Long-term assets 42,037.00
1.1.Own funds 2,300.00
1.2. Support
Venture Capital, Angel Capital, Grant, ...
1.3. Loan 39,737.00
Loan
2. Working capital 10,000.00
2.1. Own funds 10,000.00
2.1. Support FALSE
2.3. Loan
Loan
%
Own funds 12,300.00 23.64 Own funds 12,300.00 100.00
Support - -
FALSE
External owners - -
Loan 39,737.00 76.36
Loan Total-Equity
12,300.00 100.00
Total 52,037.00 100.00
TABELA 4.1.2.1.
Terms of loan (if there is a need for loan)
Loan amount (in KM) 39,737.00
Grace-period (in months) 6
Maturity (u mjesecima) 60
Interest rate (%) 7.59
Annuity repayment (monthly, quarterly, ...) monthly
Number of annuities/ number of periods 54
Number of periods in a year 12
Annuity repayment (monthly, quarterly, ...) 870.98
Ownership structure
TABELA 4.2.
Balance Sheet
Elements Starting
I Long term assets 43,640.00
- Goodwill 39,737.00
Land -
Buildings 500.00
Equipment 3.00
- Long term investments 3,400.00
II Current assets 10,000.00
Inventories 10,000.00
Accounts Receivables -
Short term Invesments -
Cash and cash equivalents -
Total Assets 53,640.00
Owners equity 12,300.00
Common stock 12,300.00
Retained earnings -
Liabilities 39,737.00
1) Long-term liabilities 39,737.00
- Long-term liabilities -
- Long-term loans 39,737.00
2) Short-term liabilities -
- Loans -
- Accounts payable -
- Taxes and contributions -
- Other liabilities -
Total Liabilities and Owner's Equity 52,037.00
TABELA 4.3.1.
Forming and allocation of total income (Profit&Loss statement)
Elements 1st year 2nd year 3rd year
Sales 33,260 46,564 59,868
Cost of goods sold (Cost of materials + direct labor) 10,411.30
Gross profit 41 46,564 59,868
Salaries and contribution 4,464 4,464 4,464
Depreciation 4,654 4,654 4,654
Other operating expenses 21,120 21,120 21,120
EBIT 0 0 0
Interest expense 2,957 2,455 1,826
EBT -2,957 -2,455 -1,826
Income tax (10%) -296 -245 -183
Net profit (loss) -2,661 -2,209 -1,644
Dividends (50%) -1,331 -1,105 -822
Retained earnings (50%) -1,331 -1,105 -822
TABELA 4.3.2.
Balance sheet
Elements Starting 1st year 2nd year 3rd year
I Long-term assets 43,640.00 44,486.30 39,832.60 35,178.90
- Intangible assets 39,737.00 35,763.30 31,789.60 27,815.90
- Land - - - -
- Buildings 500.00 6,000.00 6,000.00 6,000.00
- Equipment 3.00 (677.00) (1,357.00) (2,037.00)
- Long-term investments 3,400.00 3,400.00 3,400.00 3,400.00
II Current assets 10,000.00 530.80 11,059.03 34,891.26
- Inventories 10,000.00 10,000.00 10,000.00 10,000.00
- Accounts Receivable - - - -
- Short-term investments - - - -
- Cash and cash equivalents - (9,469.20) 1,059.03 24,891.26
TOTAL ASSETS 53,640.00 45,017.10 50,891.63 70,070.16
I Owners equity 12,300.00 10,969.46 9,864.73 9,042.83
- Paid-in capital 12,300.00 12,300.00 12,300.00 12,300.00
- Retained earnings - (1,330.54) (2,435.27) (3,257.17)
II Liabilities 39,737.00 34,333.63 24,986.60 15,356.73
1) Long-term liabilities 39,737.00 35,959.85 27,963.04 19,337.71
- Long-term liabilities - - - -
- Long-term loans 39,737.00 35,959.85 27,963.04 19,337.71
2) Short-term liabilities - (1,626.21) (2,976.44) (3,980.99)
- Loans - - - -
- Accounts payable - - - -
- taxes and employee contributions - (295.68) (541.17) (723.82)
- other liabilities - (1,330.54) (2,435.27) (3,257.17)
TOTAL OWNERS EQUTY AND LIABILITIES 52,037.00 45,303.10 34,851.33 24,399.56
TABLE 4.4.1.
Calculation Budget costs
Elements/ cost carriers Total Product /
service 1
Product / service
2
Product / service
3
1. Costs of material inputs 211 210 0 1
2. Direct salaries 10,200 600 4,800 4,800
A. Cost I (COGS) 10,411 810 4,800 4,801
Cost of production I/ per unit 0.28 2.29 2.83
3. Other operating costs 21,120 1,643 9,738 9,739
4. Indirect salaries 4,464 347 2,058 2,058
5. Depreciation 4,654 362 2,146 2,146
6. Interest expense 2,957 230 1,363 1,363
B. Cost of production II 43,606 3,393 20,106 20,108
Cost of production II/ per unit #DIV/0! #DIV/0! #DIV/0!
Note: taxes are not treated in calculating costs
TABLE 4.4.2.
Structure of fixed and variable costs: break-even point
Elements/ cost carriers Total Product /
service 1
Product / service
2
Product / service
3
1. Cost of Materials 1,200
2. Direct labor costs
A. Total variable costs 15,229 0
3. Other operating expenses 0
4. Indirect labor costs 0
5. Depreciation 0
6. Interest expense 0
B. Total fixed costs 22,207
C. Total cost (A+B) 37,436
Production Volume
Unit variable cost
Total unit costs
Average sales price/ unit 5.00
Brake-even (%)
Tabele 4.5. Investments into working capital
1st year 2nd year 3rd year
Turnover
coefficient
Days
connecting Needed working capital
Needed working
capital
Needed working
capital
Asset category 1st year 2nd year 3rd year
1. Materials inventory 1,200 1,680 3,024 12 30 100 140 252
2. Work in progress inventory 12 30 0 0 0
3. Finished goods inventory 43,605.75 32,692.66 32,064.14 12 30 3,634 2,724 2,672
4. Accounts receivables 43,606 32,693 32,064 12 30 3,634 2,724 2,672
5. Cash 37,752 26,359 24,386 28 30 1,359 949 878
A. Total working capital 8,727 6,538 6,474
6. Accounts payable 21,122 21,120 21,120 12 30 1,760 1,760 1,760
7. Salaries 18,864 24,624 30,384 12 30 1,572 2,052 2,532
8. Depreciation 4,654 4,654 4,654 12 30 388 388 388
9. Finanance cost 2,957 2,455 1,826 12 30 246 205 152
10. Income taxes -296 -245 -183 12 30 -25 -20 -15
B. Sources from operation 3,966 4,404 4,832
C. Needed fixed working capital 4,761 2,134 1,642
INVESTMENTS INTO WORKING CAPITAL. 4,761 -2,627 -491
TABELA 4.6.1.
NPV IRR
Ukupna ulaganja Neto dobit I godina
-53640 4,949
9.00
Dynamic indicators
Internal rate of return (IRR) - % (1.78)
Net present value (NPV) 29,871.94
Payback period calculate
T. 4.6.2. Ratios
1st year 2nd year
Liquidity:
Current ratio (0.33) (3.72)
Quick ratio - (17.84)
Operating:
Accounts receivables turnover 0.76 1.42
Inventory turnover 27.72 27.72
Long-term assets turnover 0.75 1.17
Total asset turnover 0.74 0.91
Debt:
Debt to equity 3.13 2.53
Times interest earned - -
Profitability:
Gross margin 0.00 1.00
EBIT - -
Net profit (0.08) (0.05)
Return on assets (0.06) (0.04)
Return on equity (0.24) (0.22)
Growth
Sales 0.40
All ratios are calculated based on the end year balances
Neto dobit II godina Neto dobit II godina
4,899 4,836 4,836 4,836 4,836 4,836
period 10 years
period 10 years
3rd year
(8.76)
0.10
1.87
19.80
1.70
0.85
1.70
-
1.00
-
(0.03)
(0.02)
(0.18)
0.80
4,836 4,836 4,836
TABELE 4.6.3.
Cash flow
Elements Grace Total
1 2 3 4 5 6 7 8 9 10 11 12 1st Year 2nd Year 3rd Year
Receipts
Cash sales 2,771.67 2,771.67 2,771.67 2,771.67 2,771.67 2,771.67 2,771.67 2,771.67 2,771.67 2,771.67 2,771.67 2,771.67 33,260.00 46,564.00 59,868.00
Sources of financing 42,037.00 10,000.00 52,037.00
Balance
Total receipts 42,037.00 12,771.67 2,771.67 2,771.67 2,771.67 2,771.67 2,771.67 2,771.67 2,771.67 2,771.67 2,771.67 2,771.67 2,771.67 85,297.00 46,564.00 59,868.00
Payments
Payments for long-term assets 42,037.00 42,037.00
Disbursements for working capital 10,000.00 10,000.00
Materials 867.61 867.61 867.61 867.61 867.61 867.61 867.61 867.61 867.61 867.61 867.61 867.61 10,411.30 - -
Other operating expenses 1,760.00 1,760.00 1,760.00 1,760.00 1,760.00 1,760.00 1,760.00 1,760.00 1,760.00 1,760.00 1,760.00 1,760.00 21,120.00 21,120.00 21,120.00
Gross salaries and contributions 372.00 372.00 372.00 372.00 372.00 372.00 372.00 372.00 372.00 372.00 372.00 372.00 4,464.00 4,464.00 4,464.00
Finance cost (interest expenses) 251.34 251.34 251.34 251.34 251.34 251.34 251.34 247.42 243.47 239.50 235.51 231.49 2,956.75 2,454.96 1,826.44
Total disbursemets 42,037.00 13,250.94 3,250.94 3,250.94 3,250.94 3,250.94 3,250.94 3,250.94 3,247.03 3,243.08 3,239.11 3,235.12 3,231.10 90,989.05 28,038.96 27,410.44
Net receipts - (479.28) (479.28) (479.28) (479.28) (479.28) (479.28) (479.28) (475.36) (471.41) (467.45) (463.45) (459.43) (5,692.05) 18,525.04 32,457.56
Beginning cash - (479.28) (958.56) (1,437.83) (1,917.11) (2,396.39) (2,875.67) (3,974.59) (5,073.51) (6,172.44) (7,271.36) (8,370.28) (9,469.20) (9,469.20) 1,059.03
Cash after inflows from financing - (479.28) (958.56) (1,437.83) (1,917.11) (2,396.39) (2,875.67) (3,354.95) (4,449.95) (5,544.93) (6,639.88) (7,734.81) (8,829.71) (15,161.26) 9,055.83 33,516.59
Loan amount 39,737.00
Loan annuity (repayment) 619.64 623.56 627.51 631.48 635.47 639.49 3,777.15 7,996.81 8,625.33
Cash balance - (479.28) (958.56) (1,437.83) (1,917.11) (2,396.39) (2,875.67) (3,974.59) (5,073.51) (6,172.44) (7,271.36) (8,370.28) (9,469.20) (9,469.20) 1,059.03 24,891.26
Remaining loan 39,737.00 39,737.00 39,737.00 39,737.00 39,737.00 39,737.00 39,737.00 39,117.36 38,493.79 37,866.28 37,234.81 36,599.34 35,959.85 35,959.85 27,963.04 19,337.71
The first year
Tabela br. 7.2.1.
Loan terms, repayment plan, (adjustment is necessary if there is change in grace-period, repayment period, or change in repayment of annuity)
Loan terms
loan amount 39,737.00
grace-period 6
repayment period 60
interest rate 7.59
annuity monthly
number of annuities 54
number of periods in a year 12
annuity 870.98
interkalarna kamata 1,508.02