Source and Use of Funds Statement
The start-up cost required for the funeral home amount to $507645. The form of business ownership for the funeral home is an LLC made up of 5 members. These members will contribute the amount as their share capital.
These will be used to offset the initial capital expenditure required to set up the Funeral homes. The funds will be broken down in the following cost items:
| Cost Item | Cost |
| Stainless steel prep table | $ 5000 |
| Embalming machine | $4000 |
| TVs | $10,000 |
| Caskets and Urns | $ 15,000 |
| Building structuring | $300,000 |
| Registration fees | $800 |
| Legal fees, Insurance, permits & license | $5000 |
| Marketing | $90,000 |
| Salaries and wages (3 months) | $ 26298 |
| Working capital (3 months) | $ 35527 |
| Total Costs | $507645 |
Assumptions Sheet
The following assumptions will apply for the Funeral home business
Proforma Financial Statements
Profit and Loss Account
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
| Sales | 136,000.00 | 149,600.00 | 164,560.00 | 181,016.00 | 199,117.60 | 219,029.36 | 240,932.30 | 265,025.53 | 291,528.08 | 320,680.89 | 352,748.97 | 388,023.87 |
| Net Sales | 136,000.00 | 149,600.00 | 164,560.00 | 181,016.00 | 199,117.60 | 219,029.36 | 240,932.30 | 265,025.53 | 291,528.08 | 320,680.89 | 352,748.97 | 388,023.87 |
| Cost of Goods Sold | 98,148.00 | 107,963.00 | 118,759.00 | 130,635.00 | 143,693.00 | 158,068.00 | 173,875.00 | 191,263.00 | 210,389.00 | 231,428.00 | 254,571.00 | 280,028.00 |
| Gross Profit | 37,852.00 | 41,637.00 | 45,801.00 | 50,381.00 | 55,424.60 | 60,961.36 | 67,057.30 | 73,762.53 | 81,139.08 | 89,252.89 | 98,177.97 | 107,995.87 |
| Operation Expenses | ||||||||||||
| Salaries & Wages | 8,766.00 | 8,766.00 | 8,766.00 | 8,766.00 | 8,766.00 | 8,766.00 | 8,766.00 | 8,766.00 | 8,766.00 | 8,766.00 | 12,048.00 | 12,048.00 |
| Depreciation | 200.00 | 200.00 | 200.00 | 200.00 | 200.00 | 200.00 | 200.00 | 200.00 | 200.00 | 200.00 | 200.00 | 200.00 |
| Rent | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 | 4,000.00 |
| Office Supplies | 500.00 | 500.00 | 500.00 | 500.00 | 500.00 | 500.00 | 500.00 | 500.00 | 500.00 | 500.00 | 500.00 | 500.00 |
| Utilities | 550.00 | 550.00 | 550.00 | 550.00 | 550.00 | 550.00 | 550.00 | 550.00 | 550.00 | 550.00 | 550.00 | 550.00 |
| Insurance | 1,200.00 | 1,200.00 | 1,200.00 | 1,200.00 | 1,200.00 | 1,200.00 | 1,200.00 | 1,200.00 | 1,200.00 | 1,200.00 | 1,200.00 | 1,200.00 |
| Travel | 250.00 | 262.50 | 275.63 | 289.41 | 303.88 | 319.07 | 335.02 | |||||
| Maintenance | 20.00 | 20.00 | 20.00 | 20.00 | 20.00 | 20.00 | 20.00 | 20.00 | 20.00 | 20.00 | 20.00 | 20.00 |
| Advertising | 150.00 | 15,000.00 | 15,000.00 | 15,000.00 | 15,000.00 | 15,000.00 | 15,000.00 | 15,000.00 | 15,000.00 | 15,000.00 | 15,000.00 | 15,000.00 |
| Licenses | 400.00 | 400.00 | 400.00 | 400.00 | 400.00 | 400.00 | 400.00 | 400.00 | 400.00 | 400.00 | 400.00 | 400.00 |
| Total Operation Expenses | 16,036.00 | 30,898.50 | 30,911.63 | 30,925.41 | 30,939.88 | 30,955.07 | 30,971.02 | 30,636.00 | 30,636.00 | 30,636.00 | 33,918.00 | 33,918.00 |
| Income From Operations | 21,816.00 | 10,738.50 | 14,889.37 | 19,455.59 | 24,484.72 | 30,006.29 | 36,086.28 | 43,126.53 | 50,503.08 | 58,616.89 | 64,259.97 | 74,077.87 |
| Interest Income (Expense) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Before Income Taxes | 21,816.00 | 10,738.50 | 14,889.37 | 19,455.59 | 24,484.72 | 30,006.29 | 36,086.28 | 43,126.53 | 50,503.08 | 58,616.89 | 64,259.97 | 74,077.87 |
| Income Tax Expense | 6,544.80 | 3,221.55 | 4,466.81 | 5,836.68 | 7,345.42 | 9,001.89 | 10,825.88 | 12,937.96 | 15,150.92 | 17,585.07 | 19,277.99 | 22,223.36 |
| Net Income | 15,271.20 | 7,516.95 | 10,422.56 | 13,618.91 | 17,139.30 | 21,004.40 | 25,260.39 | 30,188.57 | 35,352.15 | 41,031.82 | 44,981.98 | 51,854.51 |
Annual Profit and Loss Account
| 2018 | 2019 | 2020 | |
| Sales | 2,908,262.59 | 3,344,501.98 | 4,013,402.38 |
| Net Sales | 2,908,262.59 | 3,344,501.98 | 4,013,402.38 |
| Cost of Goods Sold | 2,098,820.00 | 2,378,848.00 | 2,658,876.00 |
| Gross Profit | 809,442.59 | 965,653.98 | 1,354,526.38 |
| Operation Expenses | |||
| Salaries & Wages | 111,756.00 | 115108.68 | 118561.9404 |
| Depreciation | 2,400.00 | 2,400.00 | 2,400.00 |
| Rent | 48,000.00 | 48,000.00 | 48,000.00 |
| Office Supplies | 6,000.00 | ||
| Utilities | 6,600.00 | 6666 | 6732.66 |
| Insurance | 14,400.00 | 14688 | 14981.76 |
| Travel | 2,035.51 | ||
| Maintenance | 240.00 | 720 | 2160 |
| Advertising | 165,150.00 | 166801.5 | 168469.515 |
| Licenses | 4,800.00 | 4,800.00 | 4,800.00 |
| Total Operation Expenses | 361,381.51 | 359,184.18 | 366,105.88 |
| Income From Operations | 448,061.08 | 606,469.80 | 988,420.50 |
| Interest Income (Expense) | 0.00 | 0.00 | 0.00 |
| Income Before Income Taxes | 448,061.08 | 606,469.80 | 988,420.50 |
| Income Tax Expense | 134,418.32 | 181,940.94 | 296,526.15 |
| Net Income | 313,642.76 | 424,528.86 | 691,894.35 |
Cashflow Statement
| 2018 | 2019 | 2020 | ||
| Cash received from customers | ‘000 | 1,647 | 1,970 | 2,459 |
| Direct Costs | ‘000 | (165) | (197) | (246) |
| Rent | ‘000 | (49) | (50) | (51) |
| Salaries and Wages | ‘000 | (62) | (64) | (66) |
| Electricity Cost | ‘000 | (7) | (7) | (7) |
| Insurance costs | ‘000 | (1) | (1) | (1) |
| Office supplies | ‘000 | (61) | (62) | (64) |
| Maintenance | ‘000 | (25) | (25) | (26) |
| Advertising | ‘000 | (18) | (18) | (19) |
| Licenses | ‘000 | (5) | (5) | (5) |
| Taxation | ‘000 | 377 | 462 | 593 |
| Cash flow from operations | ‘000 | 1,255 | 1,540 | 1,975 |
| Capital Expenditure | ‘000 | (490) | 0 | 0 |
| Cash flow available for loan repayment | ‘000 | 765 | 1,540 | 1,975 |
| 000 | ||||
| Equity Injection | 000 | 800 | 0 | 0 |
| Cash flow available for shareholders | ‘000 | 1,565 | 1,540 | 1,975 |
| Dividend | ‘000 | (157) | (184) | (228) |
| Net cash balance | ‘000 | 1,409 | 1,725 | 2,203 |
| Cash balalance b/f | ‘000 | 0 | 1,409 | 3,065 |
| Net cash balance | ‘000 | 1,409 | 1,656 | 2,048 |
| Cash bal c/f | ‘000 | 1,409 | 3,065 | 5,113 |
Statement of Financial Position
| Balance Sheet as at 31st December | ||
| FY-[2018] | FY-[2019] | |
| Current Assets | ||
| Cash | 634,000 | 1,082,340 |
| Inventories | 100,000 | 100,000 |
| Accounts receivable | 127,057 | |
| Pre-paid expenses | 50,000 | 51,000 |
| Total | 911,057 | 1,233,340 |
| Fixed Assets | ||
| Property and equipment | 334,000 | 334,000 |
| Less accumulated depreciation (Negative Value) | (24,000) | (48,000) |
| Total | 358,000 | 382,000 |
| Total Assets | 1,269,057 | 1,615,340 |
| Current Liabilities | ||
| Accounts payable | 344,438 | 386,641 |
| Income taxes payable | 103,331.40 | 296,526 |
| Total | 447,769 | 683,167 |
| Owner Equity | ||
| Investment capital | 507,645 | 507,645 |
| Accumulated retained earnings | 313,643 | 424,528 |
| Total | 821,288 | 932,173 |
| Total Liabilities & Stockholder Equity | 1,269,057 | 1,615,340 |
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