Unionville Winter Tennis Club          
             Income Statement  
    Business Plan  
    2008 2009 2010 2011 2012 2013 2014 Total Year 1 to 7
    1 Court 9 Courts 9 Courts 9 Courts 9 Courts 9 Courts 9 Courts 9 Courts 9 Courts 9 Courts  
Revenue:    
Membership  Fees  (Schedule 1) $2,713 $195,300 $195,300 $195,300 $201,038 $206,693 $211,816 $217,066 $222,358 $227,647 $1,875,230
Court Fees (Schedule 2) $63,328 $370,469 $370,469 $370,469 $370,469 $376,168 $381,868 $387,567 $387,567 $387,567 $2,661,676
Approx. Break-even amount $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Food & Bar $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Lessons $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Pro-Shop  $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Sales $66,041 $565,769 $565,769 $565,769 $571,506 $582,862 $593,684 $604,634 $609,925 $615,214 $4,536,906
     
     
Expenses: Inflation Rate   3% 3% 3% 3% 3% 3%  
Advertising $1,000 $4,000 $4,000 $4,000 $4,120 $4,244 $4,371 $4,502 $4,637 $4,776 $30,650
Salaries & Wages (Schedule 2) $7,149 $28,596 $64,342 $64,342 $66,272 $68,260 $70,308 $72,417 $74,590 $76,828 $493,018
Repairs & Maintenance (Note 1) $10,000 $17,500 $40,000 $40,000 $41,200 $42,436 $43,709 $45,020 $46,371 $47,762 $306,498
Bank Charges (Note 2) $800 $800 $800 $800 $824 $520 $530 $540 $550 $560 $4,324
Credit Card Fees (Note 3) $660 $5,658 $5,658 $5,658 $5,715 $5,829 $5,937 $6,046 $6,099 $6,152 $41,436
Insurance (Note 4) $3,250 $13,000 $13,000 $13,000 $13,390 $13,792 $14,205 $14,632 $15,071 $15,523 $99,612
Accounting & Legal (Note 5) $5,000 $15,000 $15,000 $18,000 $15,000 $15,000 $15,000 $15,000 $15,000 $15,000 $108,000
Office Expenses $1,000 $1,000 $1,000 $1,000 $1,030 $1,061 $1,093 $1,126 $1,159 $1,194 $7,662
Operating Supplies $1,000 $2,000 $2,000 $2,000 $2,060 $2,122 $2,185 $2,251 $2,319 $2,388 $15,325
Postage & Courier $1,000 $1,000 $1,000 $1,000 $1,030 $1,061 $1,093 $1,126 $1,159 $1,194 $7,662
Courts & Club House Rental (Note 6) $1,400 $11,200 $11,200 $11,200 $11,200 $11,200 $11,200 $11,200 $11,200 $11,200 $78,400
Permits and Licenses $1,000 $1,000 $1,000 $1,000 $1,030 $1,061 $1,093 $1,126 $1,159 $1,194 $7,662
Utilities including heat  (Note 7) $12,000 $108,000 $108,000 $108,000 $111,240 $114,577 $118,015 $121,555 $125,202 $128,958 $827,546
Telephone $1,200 $1,200 $1,200 $1,200 $1,236 $1,273 $1,311 $1,351 $1,391 $1,433 $9,195
Snow Removal  $2,000 $2,000 $2,000 $2,000 $2,060 $2,122 $2,185 $2,251 $2,319 $2,388 $15,325
Miscellaneous $10,000 $10,000 $10,000 $10,000 $10,300 $10,609 $10,927 $11,255 $11,593 $11,941 $76,625
Total Operating Expenses $58,460 $221,954 $280,200 $283,200 $287,707 $295,166 $303,163 $311,397 $319,818 $328,490 $2,128,941
   
Earnings before Interest, Taxes, Depreciation & Amort. $7,581 $343,815 $285,569 $282,569 $283,799 $287,696 $290,521 $293,236 $290,107 $286,724 $2,014,652
Depreciation (Amortization) - see Note 9 $22,827 $111,853 $111,853 $111,853 $111,853 $111,853 $111,853 $111,853 $111,853 $111,853 $782,974
Interest Expense @ 10% (see Loans) $12,912 $106,623 $106,623 $106,623 $94,455 $81,013 $66,163 $49,758 $31,635 $11,615 $441,261
Earnings Before Management Fees (A) ($28,158) $125,338 $67,093 $64,093 $77,491 $94,830 $112,505 $131,625 $146,618 $163,256 $790,417
Mangement Fees & Bonuses @50% $0 $0 $33,546 $32,046 $38,745 $47,415 $56,252 $65,813 $73,309 $81,628 $395,209
Net Income Before Income Taxes ($28,158) $125,338 $33,546 $32,046 $38,745 $47,415 $56,252 $65,813 $73,309 $81,628 $395,209
Income Tax @20% ($5,632) $25,068 $6,709 $6,409 $7,749 $9,483 $11,250 $13,163 $14,662 $16,326 $79,042
Net Income ($22,526) $100,271 $60,383 $25,637 $30,996 $37,932 $45,002 $52,650 $58,647 $65,302 $316,167
 
Return on Sales -43% 22% 12% 4.5% 5.4% 6.5% 7.6% 8.7% 9.6% 10.6%
Return on Investment before tax (A) -3% 11% 6% 6% 7% 8% 10% 12% 13% 15%
Return on Fixed Assets   6% 9% 12% 17% 24% 33% 49%
 
                                                          Unionville Winter Tennis Club  
  Balance Sheet    
  Business Plan    
  9 Courts 2008 2009 2010 2011 2012 2013 2014
At Inception Assets Purchase 9 Courts 9 courts 9 courts 9 courts 9 courts 9 courts 9 courts
 
Current Assets  
Cash ####### -$67,012 $21,386 $35,862 $43,832 $44,023 $35,456 $14,764 -$19,293
A/R $0 $0 $0 $0 $0 $0 $0 $0 $0
Other receivables (GST) $0 $67,112 $0 $0 $0 $0 $0 $0 $0
Net Book Value of Fixed Assets  
Bubble (s) + Leaseholds (see Note 8) $0 ########[1] $966,181 $858,827 $751,474 $644,120 $536,767 $429,414 $322,060
Computer Equipment (See Note 8) $0 $30,000 $27,000 $24,000 $21,000 $18,000 $15,000 $12,000 $9,000
Furniture & Fixtures (see Note 8) $0 $15,000 $13,500 $12,000 $10,500 $9,000 $7,500 $6,000 $4,500
Other $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Assets ######## ######## $1,028,066 $930,690 $826,806 $715,143 $594,723 $462,178 $316,267
 
Current Liabilities  
A/P $0   $0 $0 $0 $0 $0 $0 $0
Accrued Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0
Wages Payable $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Payables (Taxes) $0 $0 $0 $0 $0 $0 $0 $0 $0
Long-Term Liabilities   $0
Loan to Shareholders $0 $0 $0 $0 $0 $0 $0 $0 $0
Bank Loans ######## ######## $1,002,329 $873,956 $732,141 $575,476 $402,406 $211,213 $0
Other $0 $0 $0 $0 $0 $0 $0 $0 $0
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 6
Total Liabilities ######## ######## $1,002,329 $873,956 $732,141 $575,476 $402,406 $211,213 $0
 
Shareholders Equity  
Common Shares $100 $100 $100 $100 $100 $100 $100 $100 $100
 
Retained Earnings - Opening  $0 $0 $0 $25,637 $56,633 $94,565 $139,567 $192,217 $250,865
Add: Net Income $0 $0 $25,637 $30,996 $37,932 $45,002 $52,650 $58,647 $65,302
Less: Dividends $0 $0 $0 $0 $0 $0 $0 $0 $0
Retained Earnings - Closing $0 $0 $25,637 $56,633 $94,565 $139,567 $192,217 $250,865 $316,167
$100 $100 $25,737 $56,733 $94,665 $139,667 $192,317 $250,965 $316,267
 
                        Total Liabilities & Shareholders Equity ######## ######## $1,028,066 $930,690 $826,806 $715,143 $594,723 $462,178 $316,267
$0
[1]
Natasha Strass-Hundal:
4 court bubble $298K, 98K Grade Beam, $15K remove + replace lights