TASK 1
Budget formation for Haversons Ltd.
Jan Feb Mar Apr May Jun
Opening cash balance £3,18,000.00 £4,62,446.74 £6,53,456.20 -£44,449.90 £1,15,985.48 £2,86,384.91
Receipts
Cash sales £2,29,448.40 £1,78,930.80 £1,74,603.00 £1,71,066.60 £1,95,360.00 £2,28,270.00
Collection form debtors
Within one month £75,565.01 £58,927.88 £57,502.59 £56,337.93 £64,338.56 £75,176.92
within two month - £71,893.83 £56,064.98 £54,708.94 £53,600.87 £61,212.80
Interest received on credit - £12,023.62
Total receipts £6,23,013.41 £7,84,222.86 £9,41,626.77 £2,37,663.58 £4,29,284.91 £6,51,044.63
Payments
Motor car - - - £30,000.00 - -
Annual fixed cost - - £18,750.00 - - £18,750.00
Printing and stationary cost £5,800.00 £4,000.00 £4,000.00 £4,000.00 £5,800.00 £4,000.00
Toiletries - - - - - -
Purchase of land £28,000.00 - - - £52,000.00 -
Branded beddings - - £2,560.00 - - -
Salary to staff £26,666.67 £26,666.67 £26,666.67 £26,666.67 £26,666.67 £26,666.67
Wages £40,000.00 £40,000.00 £40,000.00 £40,000.00 £40,000.00 £40,000.00
Light and heat - - £30,000.00 - - £30,000.00
Annual business rates - - - £8,333.33 £8,333.33 £8,333.33
Marketing cost - - £25,000.00 - - -
Corporate tax - - £7,79,000.00 - - -
Purchase of furniture £50,000.00 £50,000.00 £50,000.00 - - -
Petrol and diesel £1,100.00 £1,100.00 £1,100.00 £1,100.00 £1,100.00 £1,100.00

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