Pension de Famille

Pre-operating Statement of Financial Position

As of Oct. 1, 2017

ASSETS
CURRENT ASSETS
Cash 288,848.80
Advertising 1 3,700.00
Home Supplies 2 9,548.50
Cleaning Supplies 3 1,450.00
Pre-operating Expenses 4 51,499.00
Total Current Assets 355,046.30
NON-CURRENT ASSETS
Land & Building 5 8,312,249.20
Furnitures & Fixtures 6 290,680.00
Home Equipment 7 30,524.50
Other Equipment 8 11,500.00
Total Non-Current Assets 8,644,953.70
TOTAL ASSETS 9,000,000.00

LIABILITIES & OWNERS'

EQUITY
NON-CURRENT LIABILITIES
Loans Payable 2,500,000.00
Total Non-current liabities 2,500,000.00
Total Liabilities 2,500,000.00
PARTNERS' EQUITY
Pestelos, Capital 2,000,000.00
Mercene, Capital 1,500,000.00
Olitoquit, Capital 1,500,000.00
Ong, Capital 1,500,000.00
Total Owners' equity 6,500,000.00
TOTAL LIABILITIES & OWNER'S EQUITY 9,000,000.00
 Advertising
Schedule 1 Expense
Tarpaulin 3 3,450.00
Flyers 500 250.00
3,700.00

Schedule 2 Home Supplies

Light Bulb 38 5,510.00

Socket 46 2,300.00
Mirror 11 440.00
Wall Clock 1 160.00
Chain lock 2 599.50
Faucet 11 539.00
Total Home
Supplies 9,548.50

Schedule 3 Cleaning Supplies

Trash can 9 540.00

Mop with spin dryer bucket 720.00
Dustpan & Broom 1 190.00
Total Cleaning Supplies 1,450.00

Schedule 4 Pre-operating Expenses

Business Permit 500.00

Taxes & Licences 1,500.00
Salaries Expense 39,200.00
Installation Cost 10,299.00
51,499.00

Schedule
4.1 Salaries Expense
Manager 18,000.00
Landlady 14,400.00
Bookkeeper 4,000.00
Repair and maintenance 2,800.00
39,200.00

Schedule
4.2 Installation Cost
 Telephone & WIFI Installation 1,299.00
Water Storage 4,000.00
Electricity Installation 5,000.00
10,299.00

Schedule 5 Land & Building

Land 2,050,000.00
Building (Selling Price) 5,300,000.00 fair value
Renovation 962,249.20
Total Land & Building 8,312,249.20

Schedule
5.1 Renovation

CHB 33,680.00
Cement 128,681.00
Sand 41,118.75
Gravel 105,264.00
RSB (10mm) 22,646.00
Paint 5,859.45
Miscellaneous expense 25,000.00
362,249.20
Contractual works 600,000.00
962,249.20

Schedule 6 Furnitures & Fixtures

Dining set 15,000.00

Sala set 13,000.00
Double decker w/ cabinets attached 196,000.00
Single bed 31,500.00
Double decker 22,000.00
Toilet & Lavatory 13,180.00
Total Furnitures & Fixtures 290,680.00

Schedule 7 Home Equipment

Electric fan 20 28,995.00

Flat Iron 1 569.75
 Gas stove 1 959.75
30,524.50

Schedule 8 Other Equipment

CCTV camera 1 10,000.00

Fire Extinguisher 1 1,500.00
11,500.00

Pension de Famille
Pre-operating Cashflow Statements
As of Oct. 1, 2017

Cash flows from operating activities

Increase in Home Supplies (9,548.50)
Increase in Cleaning
Supplies (1,450.00)
Increase in advertising (3,700.00)
Increase in pre-operating
expenses (51,499.00)
Net cash provided by operating activities (66,197.50)

Cash flows from investing activities

Puchase of land and
building (8,312,249.20)
Purchase of Home
Equipment (30,524.50)
Purchase of Other
Equipment (11,500.00)
Purchase of Furniture &
Fixtures (290,680.00)
Net cash used in investing
activities (8,644,953.70)

Cash flows from financing activities

Cash received from bank
loan 2,500,000.00
Issuance of Share Capital 6,500,000.00
Net cash provided by financing activities 9,000,000.00
288,848.80
 Amortization Expense
Period Interest Principal Balance
2017 33,875.19 109,383.54 2,390,616.46
2018 111,122.56 414,159.45 1,976,457.01
2019 87,760.71 437,521.30 1,500,241.56
2020 63,081.07 462,200.94 997,163.81
2021 37,009.30 488,272.71 465,708.53
2022 9,685.76 420,090.12 -