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Manufacturing Model
Funding and Tax Calculations                                                                                    
Debt Schedule
            Projected Fiscal Period Ending
(GBP in 000s, except otherwise stated)         Jun.14 Sep.14 Dec.14 Mar.15 Jun.15 Sep.15 Dec.15 Mar.16 Jun.16 Sep.16 Dec.16 Mar.17 Jun.17 Sep.17 Dec.17 Mar.18 Jun.18 Sep.18 Dec.18 Mar.19 Jun.19 Sep.19 Dec.19 Mar.20 Jun.20 Sep.20 Dec.20 Mar.21 Jun.21 Sep.21 Dec.21 Mar.22 Jun.22 Sep.22 Dec.22 Mar.23 Jun.23 Sep.23
Beginning Cash Balance GBP 000s 200.0 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Required Minimum Cash Balance[1] GBP 000s   - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Cash From Operations GBP 000s 1 138.2 (10 236.7) (10 607.1) (10 971.6) (11 308.0) (11 666.6) (12 060.7) (12 464.0) (12 850.7) (13 248.3) (13 697.5) (14 141.5) (14 557.1) (14 997.5) (15 491.7) (15 981.4) (16 442.4) (16 929.6) (17 473.2) (18 012.7) (18 523.5) (19 062.1) (19 643.9) (20 238.9) (20 818.3) (21 413.2) (22 069.5) (22 723.3) (23 348.3) (24 004.8) (24 725.4) (25 444.5) (26 134.9) (26 858.7) (27 649.7) (28 440.1) (29 202.0)
Less: Net Mandatory Debt (Repayment) GBP 000s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Less: Dividend Payments GBP 000s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Funds Available to Repay Debt GBP 000s 1 338.2 (10 236.7) (10 607.1) (10 971.6) (11 308.0) (11 666.6) (12 060.7) (12 464.0) (12 850.7) (13 248.3) (13 697.5) (14 141.5) (14 557.1) (14 997.5) (15 491.7) (15 981.4) (16 442.4) (16 929.6) (17 473.2) (18 012.7) (18 523.5) (19 062.1) (19 643.9) (20 238.9) (20 818.3) (21 413.2) (22 069.5) (22 723.3) (23 348.3) (24 004.8) (24 725.4) (25 444.5) (26 134.9) (26 858.7) (27 649.7) (28 440.1) (29 202.0)
Interest Income on Cash Balances 1.0% %
Cash BoP GBP 000s 200.0 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Cash EoP GBP 000s 200.0 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Interest Income GBP 000s 0.5 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Short Term Revolver (New Debt Financing)
Annual Cost of Facility 8.0% %
Beginning Balance GBP 000s 22 350.0 21 011.8 31 248.5 41 855.7 52 827.3 64 135.3 75 801.8 87 862.6 100 326.5 113 177.2 126 425.5 140 122.9 154 264.4 168 821.5 183 819.0 199 310.8 215 292.1 231 734.5 248 664.1 266 137.3 284 150.0 302 673.5 321 735.6 341 379.5 361 618.4 382 436.7 403 849.9 425 919.4 448 642.7 471 991.0 495 995.8 520 721.2 546 165.7 572 300.6 599 159.3 626 808.9 655 249.0
Borrowings (Payments) GBP 000s (1 338.2) 10 236.7 10 607.1 10 971.6 11 308.0 11 666.6 12 060.7 12 464.0 12 850.7 13 248.3 13 697.5 14 141.5 14 557.1 14 997.5 15 491.7 15 981.4 16 442.4 16 929.6 17 473.2 18 012.7 18 523.5 19 062.1 19 643.9 20 238.9 20 818.3 21 413.2 22 069.5 22 723.3 23 348.3 24 004.8 24 725.4 25 444.5 26 134.9 26 858.7 27 649.7 28 440.1 29 202.0
Ending Balance GBP 000s 22 350.0 21 011.8 31 248.5 41 855.7 52 827.3 64 135.3 75 801.8 87 862.6 100 326.5 113 177.2 126 425.5 140 122.9 154 264.4 168 821.5 183 819.0 199 310.8 215 292.1 231 734.5 248 664.1 266 137.3 284 150.0 302 673.5 321 735.6 341 379.5 361 618.4 382 436.7 403 849.9 425 919.4 448 642.7 471 991.0 495 995.8 520 721.2 546 165.7 572 300.6 599 159.3 626 808.9 655 249.0 684 451.0
Interest Expense GBP 000s 447.0 420.2 625.0 837.1 1 056.5 1 282.7 1 516.0 1 757.3 2 006.5 2 263.5 2 528.5 2 802.5 3 085.3 3 376.4 3 676.4 3 986.2 4 305.8 4 634.7 4 973.3 5 322.7 5 683.0 6 053.5 6 434.7 6 827.6 7 232.4 7 648.7 8 077.0 8 518.4 8 972.9 9 439.8 9 919.9 10 414.4 10 923.3 11 446.0 11 983.2 12 536.2 13 105.0
Cash Available for Bank Debt GBP 000s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Long Term Loan
Annual Cost of Facility 6.0% %
Beginning Balance GBP 000s 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0
Mandatory (Repayment) GBP 000s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Discretionary Borrowings / (Repayment) GBP 000s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Ending Balance GBP 000s 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0 20 000.0
Interest Expense GBP 000s 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0 300.0
Tax Schedule
            Projected Fiscal Period Ending
(GBP in 000s, except otherwise stated)         Jun.14 Sep.14 Dec.14 Mar.15 Jun.15 Sep.15 Dec.15 Mar.16 Jun.16 Sep.16 Dec.16 Mar.17 Jun.17 Sep.17 Dec.17 Mar.18 Jun.18 Sep.18 Dec.18 Mar.19 Jun.19 Sep.19 Dec.19 Mar.20 Jun.20 Sep.20 Dec.20 Mar.21 Jun.21 Sep.21 Dec.21 Mar.22 Jun.22 Sep.22 Dec.22 Mar.23 Jun.23 Sep.23
Taxable Income Calculation
EBT GBP 000s (14 201.8) (14 313.5) (14 709.9) (15 038.2) (15 375.6) (15 747.8) (16 156.0) (16 547.7) (16 922.6) (17 334.3) (17 811.1) (18 217.0) (18 633.6) (19 088.5) (19 611.3) (20 061.6) (20 523.7) (21 026.0) (21 598.9) (22 098.0) (22 610.0) (23 164.2) (23 761.8) (24 344.0) (24 910.3) (25 521.3) (26 208.8) (26 819.7) (27 446.1) (28 119.1) (24 872.1) (25 547.0) (26 238.8) (26 979.8) (27 804.0) (28 549.0) (29 312.5)
Manual Tax Adjustments 1 GBP 000s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Manual Tax Adjustments 2 GBP 000s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Total Taxable Income GBP 000s (14 201.8) (14 313.5) (14 709.9) (15 038.2) (15 375.6) (15 747.8) (16 156.0) (16 547.7) (16 922.6) (17 334.3) (17 811.1) (18 217.0) (18 633.6) (19 088.5) (19 611.3) (20 061.6) (20 523.7) (21 026.0) (21 598.9) (22 098.0) (22 610.0) (23 164.2) (23 761.8) (24 344.0) (24 910.3) (25 521.3) (26 208.8) (26 819.7) (27 446.1) (28 119.1) (24 872.1) (25 547.0) (26 238.8) (26 979.8) (27 804.0) (28 549.0) (29 312.5)
Income Tax Rate % 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0% 20.0%
Income Taxes - Actual Cash Payments GBP 000s 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total Tax for Income Statement GBP 000s 2 840.4 2 862.7 2 942.0 3 007.6 3 075.1 3 149.6 3 231.2 3 309.5 3 384.5 3 466.9 3 562.2 3 643.4 3 726.7 3 817.7 3 922.3 4 012.3 4 104.7 4 205.2 4 319.8 4 419.6 4 522.0 4 632.8 4 752.4 4 868.8 4 982.1 5 104.3 5 241.8 5 363.9 5 489.2 5 623.8 4 974.4 5 109.4 5 247.8 5 396.0 5 560.8 5 709.8 5 862.5
Loss Carry Forward Calculation
Accumulated Tax Shield - BoP GBP 000s 200.0 3 040.4 5 903.1 8 845.0 11 852.7 14 927.8 18 077.4 21 308.6 24 618.1 28 002.6 31 469.5 35 031.7 38 675.1 42 401.8 46 219.5 50 141.7 54 154.1 58 258.8 62 464.0 66 783.8 71 203.4 75 725.4 80 358.2 85 110.6 89 979.4 94 961.5 100 065.7 105 307.5 110 671.4 116 160.6 121 784.5 126 758.9 131 868.3 137 116.0 142 512.0 148 072.8 153 782.6
Tax Shield Created GBP 000s 2 840.4 2 862.7 2 942.0 3 007.6 3 075.1 3 149.6 3 231.2 3 309.5 3 384.5 3 466.9 3 562.2 3 643.4 3 726.7 3 817.7 3 922.3 4 012.3 4 104.7 4 205.2 4 319.8 4 419.6 4 522.0 4 632.8 4 752.4 4 868.8 4 982.1 5 104.3 5 241.8 5 363.9 5 489.2 5 623.8 4 974.4 5 109.4 5 247.8 5 396.0 5 560.8 5 709.8 5 862.5
Tax Shield Used GBP 000s - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Accumulated Tax Shield - EoP GBP 000s 200.0 3 040.4 5 903.1 8 845.0 11 852.7 14 927.8 18 077.4 21 308.6 24 618.1 28 002.6 31 469.5 35 031.7 38 675.1 42 401.8 46 219.5 50 141.7 54 154.1 58 258.8 62 464.0 66 783.8 71 203.4 75 725.4 80 358.2 85 110.6 89 979.4 94 961.5 100 065.7 105 307.5 110 671.4 116 160.6 121 784.5 126 758.9 131 868.3 137 116.0 142 512.0 148 072.8 153 782.6 159 645.1
>> End of Sheet                                                                                    

[1]
FinRobot:
Insert as negative, this would dissallow repaying revolving debt from minimum cash balance