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Projected statement of financial performance

For the year 2018, 2019, 2020, 2021, and 2022

Sched 2018 2019 2020 2021 2022

Service Income 1 ₱ 288,000.00 ₱ 806,400.00 ₱ 1,013,760.00 ₱ 1,140,480.00 ₱ 1,267,200.00
Cost of Service
Tutors’ Fee 2 82,230.00 213,798.00 213,798.00 213,798.00 213,798.00
Gross Profit 205,770.00 592,602.00 799,962.00
Less: Expenses
Rent 3 35,000.00 84,000.00 84,000.00 84,000.00 84,000.00
Manager’s Salary and 13 4 28,710.00 74,646.00 74,646.00 74,646.00 74,646.00
Month Pay
SSS, PhilHealth, and PAG- 5 12,304.00 29,529.60 74,646.00 74,646.00 74,646.00
IBIG Contribution
Utilities 6 11,544.60 30,477.72 30,477.72 30,477.72 30,477.72
Depreciation Expense- 7 1,543.33 3,704.00 3,704.00 3,704.00 3,704.00
Furniture and Fixtures
Depreciation Expense- 8 5,644.83 13,574.60 13,574.60 13,574.60 13,574.60
Equipment
Advertising 1,000.00 500.00 500.00 500.00 500.00
Office Supplies 9,770.00 25,792.80 28,37208 31,209.24 34,330.20
Permits and Licences 10 9,070.00 8,570.00 8,570.00 8,570.00 8,570.00
NET INCOME BEFORE TAX 90,236,78 319, 562.78 521,295.62 641,853.62 761,712.14
Less: Business Tax 8,640.00 24,192.00 30,412.8 34,214.40 38,016.00
NET INCOME AFTER TAX ₱ 81,596.78 ₱ 295,370.78 ₱ 490, 882.82 ₱607,639.22 ₱723,696.14
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Projected statement of cash flows
For the year 2018, 2019, 2020, 2021, and 2022

2018 2019 2020 2021 2022

Beginning Balance - ₱ 97,712.82 ₱ 97,712.82 ₱ 97,712.82 ₱ 97,712.82
Cash Flow From Operating
Activities
Cash Received ₱ 288,000.00 ₱ 806,400.00 ₱ 1,013,760.00 ₱ 1,140,480.00 ₱ 1,267,200.00
Cash Paid To/ For:
Tutors’ Fee 76,233.00 199,405.20 199,405.20 199,405.20 199,405.20
Manager’s Salary 26,711.00 68,848.40 68,848.40 68,848.40 68,848.40
SSS, Philhealth, and PAG-IBIG 16,240.00 48,720.00 48,720.00 48,720.00 48,720.00
Contribution
Utilities 9,235.68 30,246.83 33,271.61 36,573.37 40,279.25
Rent 35,000.00 84,000.00 84,000.00 84,000.00 84,000.00
Advertising 1,000.00 500.00 500.00 500.00 500.00
Office Supplies 9,770.00 25,792.80 28,372.08 31,209.24 34,330.20
Permits and Licences 9,070.00 8,570.00 8,570.00 8,570.00 8,570.00
Taxes (Percentage Tax) 6,912.00 23,904.00 29,894.40 33,897.60 37699.20
Net Cash Inflow From Operating ₱ 95,328.32 ₱ 309,412.77 ₱ 505,178.31 ₱ 621,756.19 ₱ 737,847.75
Activities
Cash Outflow From Investing
Activities:
Acquisition of Equipment 67,738.32 - - - -
Acquisition of Furniture And Fixtures 18,520.00 - - - -
NET Cash Outflow From Investing ₱ 86,258.00 - - - -
Activities
Cash Flow From Financing
Activities
Owner’s Investments 100,000.00
Withdrawal 309,412.77 505,178.31 621,756.19 737,847.75
Net Cash Flow From Financing ₱ 100,000.00 (309,412.77) (505,178.31) (621,756.19) (737,847.75)
Activities
Cash Balance ₱ 109,070.32 ₱ 109,070.32 ₱ 109,070.32 ₱ 109,070.32 ₱ 109,070.32
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Statement of owner’ equity
For the year 2019, 2020, 2021, 2022 and 2023

2018 2019 2020 2021 2022

Beginning Capital ₱ 100,000.00 ₱ 180,403.24 ₱ 160,272.75 ₱ 144,248.76 ₱ 126,403.29
Net Profit 80,043.24 291,642.28 487,154.32 603,910.72 719,967.64
Withdrawal - 309,401.77 505,178.31 621,576.19 737,847.75
Ending Capital ₱ 180,043.24 ₱ 162,272.75 ₱ 144,248.76 ₱ 126,403.29 ₱ 108,523.18
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Projected statement of financial position
For the year 2018, 2019, 2020, 2021, and 2022

2018 2019 2020 2021 2022

Assets
Current Assets
Cash ₱ 109,070.32 ₱ 109,070.32 ₱ 109,070.32 ₱ 109,070.32 ₱ 109,070.32
Non-Current Assets
Furniture And Fixtures 18,520.00 18,520.00 18,520.00 18,520.00 18,520.00
Accumulated Depreciation- 1,543.33 5,247.33 8,951.33 12,655.33 16,359.33
Furniture and Fixtures
Equipment 67,738.00 67,738.00 67,738.00 67,738.00 67,738.00
Accumulated Depreciation- 5,644.83 19,192.43 32,740.03 46,287.63 59,835.23
Equipment
Total Noncurrent Assets 89,480.88 69,957.78 50,434.68 30,911.58 11,388.48

Total Assets ₱ 188,140.16 ₱ 170,888.56 ₱ 153,636.96 ₱ 136,385.36 ₱ 119,133.76

Liabilities and Owner’s Equity

Liabilities
Current Liabilities
SSS, PhilHealth, PAG-IBIG Payables 4,060.00 4,060.00 4,060.00 4,060.00 4,060.00
Utilities Payable 2,308.92 2,539.81 2,793.80 3,070.87 3,382.58
Percentage Tax Payable 1,728.00 2,016.00 2,534.40 2,851.20 3,168.00

Equity
Owner’s Capital 180,043.24 162,272.75 144,248.76 126,403.29 108,523.18

Total Liabilities and Owner’s Equity ₱ 188,140.16 ₱ 170,888.56 ₱ 153,636.96 ₱ 136,385.36 ₱ 119,133.76
 Notes to Financial Statements

NOTE 1: SERVICE INCOME

2018 2019 2020 2021 2022

No. of students in a 30 84 96 108 120
year
No. of sessions 32 32 32 32 32
Rate per session 300.00 300.00 330.00 330.00 330.00
Service income ₱ 288,000.00 ₱ 806,400.00 ₱ 1,013,760.00 ₱ 1,140,480.00 ₱ 1,267,200.00

NOTE 2: TUTORS' FEE

2018 2019 2020 2021 2022

No. of tutors 3 3 3 3 3
No. of months 5 13 13 13 13
Monthly tutor’s fee 5,482.00 5,482.00 5,482.00 5,482.00 5,482.00
Annual Tutors' Fee ₱ 82,230.00 ₱ 213,798.00 ₱ 213,798.00 ₱ 213,798.00 ₱ 213,798.00

NOTE 3: RENT EXPENSE

2018 2019 2020 2021 2022

Monthly rental
7,000.00 7,000.00 7,000.00 7,000.00 7,000.00
Expense
No. of months 5 12 12 12 12
Annual Rent Expense ₱ 35,000.00 ₱ 84,000.00 ₱ 84,000.00 ₱ 84,000.00 ₱ 84,000.00

NOTE 4: MANAGER'S SALARY

2018 2019 2020 2021 2022

Gross salary 5,742.00 5,742.00 5,742.00 5,742.00 5,742.00
 No. of months 5 12 12 12 12
Total 28,710.00 68,904.00 68,904.00 68,904.00 68,904.00
13th month pay 5,742.00 5,742.00 5,742.00 5,742.00
Annual manager's
₱ 28,710.00 ₱ 74,646.00 ₱ 74,646.00 ₱ 74,646.00 ₱ 74,646.00
salary

NOTE 5: SSS, PHILHEALTH, PAG-IBIG CONTRIBUTION

Employer-Employee Share
2018 2019 2020 2021 2022
Manager 5,742.00 5,742.00 5,742.00 5,742.00 5,742.00
Gross salary
Tutors 5,482.00 5,482.00 5,482.00 5,482.00 5,482.00
Employer 415.20 415.20 415.20 415.20 415.20
SSS premium expense
Employee 199.80 199.80 199.80 199.80 199.80
Employer 100.00 100.00 100.00 100.00 100.00
PhilHealth premium expense
Employee 100.00 100.00 100.00 100.00 100.00
Employer 100.00 100.00 100.00 100.00 100.00
Pag-IBIG premium expense
Employee 100.00 100.00 100.00 100.00 100.00

Total SSS, PhilHealth, Pag-ibig Contribution 615.00 615.00 615.00 615.00 615.00

Employer's Share
2018 2019 2020 2021 2022
Manager 5,742.00 5,742.00 5,742.00 5,742.00 5,742.00
Gross salary
Tutors 5,482.00 5,482.00 5,482.00 5,482.00 5,482.00
SSS premium expense Employer 415.20 415.20 415.20 415.20 415.20
PhilHealth premium expense Employer 100.00 100.00 100.00 100.00 100.00
Pag-IBIG premium expense Employer 100.00 100.00 100.00 100.00 100.00

Total SSS, PhilHealth, Pag-ibig Contribution ₱ 615.20 ₱ 615.20 ₱ 615.20 ₱ 615.20 ₱ 615.20
NOTE 6: UTILITIES EXPENSE

2018 2019 2020 2021 2022

Projected KWH to be consumed
200 220 242 266 293
monthly
KWH rate 10.3077 10.3077 10.3077 10.3077 10.3077
Total 2,061.54 2,267.69 2,494.46 2,741.85 3,020.16
VAT 247.38 272.12 299.33 329.02 362.41
Total with VAT 2,308.92 2,539.82 2,793.80 3,070.87 3,382.57
No. of Months 5 12 12 12 12
Total Utilities Expense ₱ 11,544.62 ₱ 30,477.81 ₱ 33,525.59 ₱ 36,850.44 ₱ 40,590.90

NOTE 7: FURNITURES AND FIXTURES AND ACCUMULATED DEPRECIATION

Items Quantity Price Total Cost Useful life

₱
Swivel Chair 1 ₱ 1,399.00 5
1,399.00
Tables 3 1,958.67 5,876.01 5
Front Desk Table 1 1,810.00 1,810.00 5
Monobloc 26 125.00 3,250.00 5
Whiteboard 3 250.00 750.00 5
Water Dispenser 1 935.00 935.00 5
Tutor's Table 3 1,200.00 3,600.00 5
Book Shelves 3 300.00 900.00 5
Total ₱ 18,520.00

Accumulated Depreciation
Annual
Items 2018 2019 2020 2021 2022
Depreciation
Swivel Chair 279.80 116.58 396.38 676.18 955.98 1,235.78
 Tables 1,175.20 489.67 1,664.87 2,840.07 4,015.27 5,190.48
Front Desk
362.00 150.83 512.83 874.83 1,236.83 1,598.83
Table
Monobloc 650.00 270.83 920.83 1,570.83 2,220.83 2,870.83
Whiteboard 150.00 62.50 212.50 362.50 512.50 662.50
Water Dispenser 187.00 77.92 264.92 451.92 638.92 825.92
Tutor's Table 720.00 300.00 1,020.00 1,740.00 2,460.00 3,180.00
Book Shelves 180.00 75.00 255.00 435.00 615.00 795.00
Total ₱ 3,704.00 ₱ 1,543.33 ₱ 5,247.34 ₱ 8,951.34 ₱ 12,655.34 ₱ 16,359.34

NOTE 8: EQUIPMENT AND ACCUMULATED DEPRECIATION

Items Quantity Price Total Cost Useful Life

Aircon 1 34,445.00 34,445.00 5
Desktop Computer 1 18,999.00 18,999.00 5
Printer 1 7,595.00 7,595.00 5
CCTV Camera 1 4,699.00 4,699.00 5
Wifi Modem 1 2,000.00 2,000.00 5
Total ₱ 67,738.00

Accumulated Depreciation
Annual
Items 2018 2019 2020 2021 2022
Depreciation
Airconditioner ₱ 6,889.00 ₱ 2,870.41 ₱ 9,759.42 ₱ 16,648.42 ₱ 23,537.42 ₱ 30,426.42
Desktop
3,799.80 1,583.25 5,383.05 9,182.85 12,982.65 16,782.45
Computer
Printer 1,519.00 632.91 2,151.92 3,670.92 5,189.92 6,708.92
CCTV Camera 939.80 391.58 1,331.38 2,271.18 3,210.98 4,150.78
Wifi Modem 400.00 166.66 566.67 966.67 1,366.67 1,766.67
Total ₱ 13,547.60 ₱ 5,644.83 ₱ 19,192.43 ₱ 32,740.03 ₱ 46,287.63 ₱ 59,835.23
NOTE 9: CLASSROOM SUPPLIES

Quantity Total Cost

Items Price Total Annual Cost
(Monthly) (Monthly)

Bond Paper (short) 1 rim 135.00 135.00 1,620.00

Bond Paper (long) 1 rim 150.00 150.00 1,800.00
Ballpen 20 pcs 6.00 120.00 1,440.00
Folder (short) 6 pcs 8.00 48.00 576.00
Folder (long) 8 pcs 10.00 80.00 960.00
Stapler 2 pcs 50.00 100.00 1,200.00
Scotch Tape 3 pcs 20.00 60.00 720.00
Paper Clips 1 box 35.00 35.00 420.00
Whiteboard marker 5 pcs 18.00 90.00 1,080.00
Premium dye ink 200 ml 680.00 680.00 8,160.00
Staple wires 3 boxes 28.00 84.00 1,008.00
Total ₱ 18,984.00

NOTE 10: PERMITS AND LICENCES

2018 2019 2020 2021 2022

DTI Business Name registration
Application Fee 500.00
Documentary stamp tax 15.00 15.00 15.00 15.00 15.00
Barangay and Business
200.00 200.00 200.00 200.00 200.00
Clearance
Police Clearance 100.00 100.00 100.00 100.00 100.00
Mayor's Clearance 100.00 100.00 100.00 100.00 100.00
 Mayor's permit 110.00 110.00 110.00 110.00 110.00
Cedula 5,005.00 5,005.00 5,005.00 5,005.00 5,005.00
Business Plate 2,500.00 2,500.00 2,500.00 2,500.00 2,500.00
Electric Certificate fee 200.00 200.00 200.00 200.00 200.00
Fire inspection fee 100.00 100.00 100.00 100.00 100.00
BIR Registration
Annual registration fee 200.00 200.00 200.00 200.00 200.00
Certificate fee 20.00 20.00 20.00 20.00 20.00
Documentary stamp tax 20.00 20.00 20.00 20.00 20.00
Permits and licences ₱ 9,070.00 ₱ 8,570.00 ₱ 8,570.00 ₱ 8,570.00 ₱ 8,570.00

NOTE 11: PERCENTAGE TAX

2018 2019 2020 2021 2022

Sale for the year 288,000.00 806,400.00 1,013,760.00 1,140,480.00 1,267,200.00
Percentage tax
0.03 0.03 0.03 0.03 0.03
rate
Percentage tax ₱ 8,640.00 ₱ 24,192.00 ₱ 30,412.80 ₱ 34,214.40 ₱ 38,016.00