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Cash Flow Statement<br />
Cash Flow <strong>from</strong> Operations is forecast to grow to<br />
$265,000 in year 5. The Cash Flow <strong>from</strong> Investment<br />
is forecast at $90,000 in year 2, as the <strong>com</strong>pany<br />
will invest to build the second bakery. The<br />
Cash Flow Balance is forecast to reach $788,000<br />
at the end of year 5.<br />
CONSOLIDATED CASH FLOW ($’000)<br />
Year 1 Year 2 Year 3 Year 4 Year 5<br />
SALES BEFORE SALES TAXES 600 780 1,508 1,738 1,916<br />
CASH FLOW FROM OPERATIONS (CFO)<br />
EBITDA 78 114 235 292 335<br />
Start-up expenses - non recurring expense -13 0 0 0 0<br />
Payment of in<strong>com</strong>e taxes 0 -12 -24 -56 -73<br />
(Incr) Decr in account receivable<br />
(Incr) Decr in trade debtors 0 0 0 0 0<br />
(Incr) Decr in prepayments & accrued in<strong>com</strong>e 0 0 0 0 0<br />
(Incr) Decr in inventory -6 -2 -7 -2 -2<br />
Incr (Decr) in trade creditors 4 1 5 2 1<br />
Incr (Decr) in other creditors (payroll incl taxes) 10 3 11 4 3<br />
(Incr) Decr in other assets (rent deposits) -10 0 -12 0 0<br />
CFO 63 105 208 239 265<br />
CASH FLOW FROM INVESTMENTS (CFI)<br />
Increase in Fixed assets -50 -90 -10 -20 -20<br />
CFI -50 -90 -10 -20 -20<br />
CASH FLOW FROM FINANCING (CFF)<br />
Net Interest In<strong>com</strong>e (expense) 0 0 0 0 0<br />
Principal repayment of debt 0 0 0 0 0<br />
Increase (Decrease) in Debt 0 0 0 0 0<br />
Issue of ordinary shares 99<br />
CFF 99 0 0 0 0<br />
NET CASH FLOW 112 15 198 219 245<br />
CASH FLOW BALANCE - BEGINNING OF PERI-<br />
OD 0 112 127 325 544<br />
CASH FLOW BALANCE - END OF PERIOD 112 127 325 544 788<br />
THE CASH FLOW BALANCE IS FORECAST TO REACH $788,000 AT THE END OF YEAR<br />
5.<br />
French Bakery, LLC<br />
23
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