Unionville Winter Tennis Club
		Income Statement
		Business Plan for Year 1 -2008
			Jul	Aug	Sep	Oct	Nov	Dec	Jan	Feb	Mar	Apr	May	Jun	Total
Revenue:
	Membership  Fees  (Schedule 1)		$0	$0	$0	$117,180	$39,060	$19,530	$19,530	$0	$0	$0	$0	$0	$195,300
	Court Fees (Schedule 2)		$0	$0	$0	$52,924	$52,924	$52,924	$52,924	$52,924	$52,924	$52,924	$0	$0	$370,469
	Food & Bar		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
	Lessons		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
	Pro-Shop		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
	Other		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
	Net Sales		$0	$0	$0	$170,104	$91,984	$72,454	$72,454	$52,924	$52,924	$52,924	$0	$0	$565,769
Expenses:
	Advertising		$200	$1,000	$1,000	$1,000	$800	$0	$0	$0	$0	$0	$0	$0	$4,000
	Salaries & Wages (Schedule 2)		$0	$0	$0	$9,192	$9,192	$9,192	$9,192	$9,192	$9,192	$9,192	$0	$0	$64,342
	Repairs & Maintenance (Note 1)		$0	$0	$0	$8,750	$3,750	$3,750	$3,750	$3,750	$3,750	$3,750	$8,750	$0	$40,000
	Bank Charges (Note 2)		$67	$67	$67	$67	$67	$67	$67	$67	$67	$67	$67	$67	$800
	Credit Card Fees (Note 3)		$0	$0	$0	$1,701	$920	$725	$725	$529	$529	$529	$0	$0	$5,658
	Insurance (Note 4)		$1,083	$1,083	$1,083	$1,083	$1,083	$1,083	$1,083	$1,083	$1,083	$1,083	$1,083	$1,083	$13,000
	Accounting & Legal (Note 5)		$4,000	$1,000	$1,000	$1,000	$1,000	$1,000	$1,000	$1,000	$1,000	$1,000	$4,000	$1,000	$18,000
	Office Expenses		$83	$83	$83	$83	$83	$83	$83	$83	$83	$83	$83	$83	$1,000
	Operating Supplies		$0	$0	$0	$286	$286	$286	$286	$286	$286	$286	$0	$0	$2,000
	Postage		$83	$83	$83	$83	$83	$83	$83	$83	$83	$83	$83	$83	$1,000
	Club House Rental (Note 6)		$0	$0	$0	$1,600	$1,600	$1,600	$1,600	$1,600	$1,600	$1,600	$0	$0	$11,200
	Permits and Licenses		$83	$83	$83	$83	$83	$83	$83	$83	$83	$83	$83	$83	$1,000
	Utilities including Heat (Note 7)		$0	$0	$0	$15,429	$15,429	$15,429	$15,429	$15,429	$15,429	$15,429	$0	$0	$108,000
	Telephone		$100	$100	$100	$100	$100	$100	$100	$100	$100	$100	$100	$100	$1,200
	Snow Removal		$0	$0	$0	$0	$400	$400	$400	$400	$400	$0	$0	$0	$2,000
	Miscellaneous		$833	$833	$833	$833	$833	$833	$833	$833	$833	$833	$833	$833	$10,000
	Total Operating Expenses		$6,533	$4,333	$4,333	$41,290	$35,709	$34,714	$34,714	$34,519	$34,519	$34,119	$15,083	$3,333	$283,200
	Earnings before Int. Taxes & Dep.		($6,533)	($4,333)	($4,333)	$128,814	$56,275	$37,740	$37,740	$18,406	$18,406	$18,806	($15,083)	($3,333)	$282,569
	Depreciation (Amortization)		$9,321	$9,321	$9,321	$9,321	$9,321	$9,321	$9,321	$9,321	$9,321	$9,321	$9,321	$9,321	$111,853
	Interest Expense		$8,885	$8,885	$8,885	$8,885	$8,885	$8,885	$8,885	$8,885	$8,885	$8,885	$8,885	$8,885	$106,623
	Earnings Before Management Fees		($24,740)	($22,540)	($22,540)	$110,607	$38,069	$19,534	$19,534	$199	$199	$599	($33,290)	($21,540)	$64,093
	Mangement Fees & Bonuses		$2,671	$2,671	$2,671	$2,671	$2,671	$2,671	$2,671	$2,671	$2,671	$2,671	$2,671	$2,671	$32,046
	Net Income Before Income Taxes		($27,410)	($25,210)	($25,210)	$107,937	$35,398	$16,863	$16,863	($2,471)	($2,471)	($2,071)	($35,960)	($24,210)	$32,046
	Income Tax @20%		$534	$534	$534	$534	$534	$534	$534	$534	$534	$534	$534	$534	$6,409
	Net Income		($27,944)	($25,744)	($25,744)	$107,403	$34,864	$16,329	$16,329	($3,005)	($3,005)	($2,605)	($36,494)	($24,744)	$25,637
		Unionville Winter Tennis Club
		Cashflow Statement
		Business Plan for Year 1 -2008
			Jul	Aug	Sep	Oct	Nov	Dec	Jan	Feb	Mar	Apr	May	Jun	Total
	Opening Cash Balance	$0	($67,012)	($27,771)	($53,519)	($79,345)	$27,898	$62,523	$78,533	$94,464	$90,978	$87,411	$84,162	$46,941	$0
	Add: Cash Inflows
	Investment & S/Holder Loan	$0													$0
	Loan Advances	$1,118,634													$1,118,634
	Less:Asset Purchases	($1,118,534)													($1,118,534)
	GST pmt/refund on asset purch	($67,112)	$67,112												$0
															$0
	Less: Loan Repayments		($9,248)	($9,325)	($9,403)	($9,481)	($9,560)	($9,640)	($9,720)	($9,801)	($9,883)	($9,965)	($10,048)	($10,132)	($116,205)
															$0
	Add: Net Income for the Period		($27,944)	($25,744)	($25,744)	$107,403	$34,864	$16,329	$16,329	($3,005)	($3,005)	($2,605)	($36,494)	($24,744)	$25,637
	Add: Depreciation		$9,321	$9,321	$9,321	$9,321	$9,321	$9,321	$9,321	$9,321	$9,321	$9,321	$9,321	$9,321	$111,853
	Less: Dividends													$0	$0
	Ending Cash Balance	($67,012)	($27,771)	($53,519)	($79,345)	$27,898	$62,523	$78,533	$94,464	$90,978	$87,411	$84,162	$46,941	$21,386	$21,386