The founding company, a start-up business, is in need of master budget for the coming year.

The following data have been assembled to assist in preparing the master budget:
a. As of December 31 (the end of the prior year the company’s general ledger showed the following account balances:

Debit (£) Credit (£)

Cash £18,000
Accounts receivable £16,200
Inventory £48,800
Buildings and equipment (net) £91,000
Accounts payable £24,000
Loans £50,000
Owner equity £100,000
£174,000 £174,000

b. Actual sales for December and budgeted sales for the following months are as follows:
You need to give the information on what you want to sell, budgeted quantity and price.
Quantity (in unit) In £
December/N-1 12,750 £121,125
January/N 9,510 £90,345
February/N 9,100 £86,450
March/N 9,050 £85,975
April/N 8,660 £82,270
May/N 8,780 £83,410
June/N 9,250 £87,875
July/N 9,190 £87,305
August/N 9,280 £88,160
September/N 9,220 £87,590
October/N 9,480 £90,060
November/N 9,580 £91,010
December/N 13,150 £124,925
January/N+1 9,880 £93,860
 10,868 82,597
c. Sales are x% for cash and y% on credit. All payments on credit sales are collected in the month following sale. The
accounts receivable at December 31 are a result of December credit sales.
d. The company’s gross margin is 60% of sales. (In other words, cost of goods sold is 40% of sales.)
e. Monthly expenses are budgeted: £35,000 per month including: rental cost: £8,000; marketing expenses: £4,000; salary:
£12,000; depreciation (non-cash expenses) £10,000 and other expense: £1000.
f. Each month’s ending inventory should equal 20% of the following month’s cost of goods sold.
g. One-half of a month’s inventory purchases is paid for in the month of purchase; the other half is paid in the following
month.
h. During February, the company purchases a new computer for £3,700 cash.
i. During March, the company outsources an advertisement project for £1,580 cash.
j. During April the company purchases a TV for £2,000 cash
k. During July, the company purchases an A/C for £1,000 cash
l. During October, the company outsouces a company for the maintenance service for £2,100 cash

m. During September, the company outsources a company for an advertisement project for £4,500 cash.

n. Management wants to maintain a minimum cash balance of £16,000. The company has an agreement with a local bank
that allows the company to borrow in increments of £1,000 at the beginning of each month, you need to assume for the
rate and payment of the interest.

Requirement 1: Prepare a cash budget for the company.

Requirement 2: Analyse the change of the master budget in the below scenerios:
1. discounting prices by 20 per cent, which in turn increases sales volume per month by 10 per cent.
2. increasing the marketing budget by 10 per cent per month, which in turn generates an additional 20 per cent in sales
revenue.
3. offering suppliers a one-month trade credit
4. reducing rental/property related costs by 15 per cent per month.
c. Sales are x% for cash and y% on credit. All payments on credit sales are collected in the
month following sale. The accounts receivable at December 31 are a result of December credit
sales.

j. During {you can choose the month}, the company purchases a computer for £2,000
cash

l. During {you can choose the month}, the company outsouces a company for the maintenance
service for £2,100 cash

m. During {you can choose the month}, the company outsources a company for an
advertisement project for £4,500 cash.
n. Management wants to maintain a minimum cash balance of £18,000. The company has an
agreement with a local bank that allows the company to borrow in increments of £1,000 at the
beginning of each month, your group needs to assume for the rate and payment
of the interest.
Please fill up with your assumptions.
 Your assumption
x 70%

y 30%

month april

month october

month september

Assumption about
the bank loan 15%
1. Schedule of expected cash collections
scenario 0
Jan Feb Mar
Account Receivable £16,200
Sale volume £9,510 £9,100 £9,050
price £9.5 £9.5 £9.5
Sales £90,345 £86,450 £85,975
Cash sales £63,241 £60,515 £60,182
Credit sales £27,104 £25,935 £25,793
Total cash collection £79,442 £87,619 £86,118

scenario 1
Jan Feb Mar
sale volume 10,461 10,010 9,955
price £7.6 £7.6 £7.6
sale £79,504 £76,076 £75,658
cash sales £55,653 £53,253 £52,961
credit sales £23,851 £22,823 £22,697
total cash collection £71,853 £77,104 £75,783

scenario 2
Jan Feb Mar
Account Receivable £16,200
Sale volume £9,510 £9,100 £9,050
price £11.4 £11.4 £11.4
Sales £108,414 £103,740 £103,170
Cash sales £75,890 £72,618 £72,219
Credit sales £32,524 £31,122 £30,951
Total cash collection £92,090 £105,142 £103,341
Dec
Apr May Jun Jul

£8,660 £8,780 £9,250 £9,190

£9.5 £9.5 £9.5 £9.5
£82,270 £83,410 £87,875 £87,305
£57,589 £58,387 £61,512 £61,113
£24,681 £25,023 £26,363 £26,192
£83,382 £83,068 £86,536 £87,476

Apr May Jun Jul

9,526 9,658 10,175 10,109
£7.6 £7.6 £7.6 £7.6
£72,398 £73,401 £77,330 £76,828
£50,678 £51,381 £54,131 £53,780
£21,719 £22,020 £23,199 £23,049
£73,376 £73,100 £76,151 £76,979

Apr May Jun Jul

£8,660 £8,780 £9,250 £9,190

£11.4 £11.4 £11.4 £11.4
£98,724 £100,092 £105,450 £104,766
£69,107 £70,064 £73,815 £73,336
£29,617 £30,028 £31,635 £31,430
£100,058 £99,682 £103,843 £104,971
Aug Sep Oct Nov

£9,280 £9,220 £9,480 £9,580

£9.5 £9.5 £9.5 £9.5
£88,160 £87,590 £90,060 £91,010
£61,712 £61,313 £63,042 £63,707
£26,448 £26,277 £27,018 £27,303
£87,904 £87,761 £89,319 £90,725

Aug Sep Oct Nov

10,208 10,142 10,428 10,538
£7.6 £7.6 £7.6 £7.6
£77,581 £77,079 £79,253 £80,089
£54,307 £53,955 £55,477 £56,062
£23,274 £23,124 £23,776 £24,027
£77,355 £77,230 £78,601 £79,838

Aug Sep Oct Nov

£9,280 £9,220 £9,480 £9,580

£11.4 £11.4 £11.4 £11.4
£105,792 £105,108 £108,072 £109,212
£74,054 £73,576 £75,650 £76,448
£31,738 £31,532 £32,422 £32,764
£105,484 £105,313 £107,183 £108,870
Dec

£13,150
£9.5
£124,925
£87,448
£37,478
£114,751

Dec
14,465
£7.6
£109,934
£76,954
£32,980
£100,980

Dec

£13,150
£11.4
£149,910
£104,937
£44,973
£137,701
2a. Merchandise purchases budget:
scenario 0
Jan Feb
Budgeted cost of goods sold £36,138 £34,580
Add desired ending inventory £6,916 £6,878
Total needs £43,054 £41,458
Less beginning inventory £48,800 £6,916
Required purchases - £34,542

Cash disbursement for purchase - £17,271

£24,000 -
Total £24,000 £17,271

scenario 1
Jan Feb
budgeted cost of good sold £31,801 £30,430
add desired ending inventory £6,086 £6,053
total needs £37,888 £36,483
less beginning inventory £48,800 £6,086
required purchases - £30,397
...
Cash disburment for purchases - 15198.5
24400.0 -
total 24400.0 15198.5

scenario 2:
Jan Feb
Budgeted cost of goods sold £43,366 £41,496
Add desired ending inventory £8,299 £8,254
Total needs £51,665 £49,750
Less beginning inventory 48,800 £8,299
Required purchases £2,865 £41,450

Cash disbursement for purchase £1,432 £20,725

£24,000 £1,432
Total £25,432 £22,158
scenario 3

Jan Feb
Budgeted cost of goods sold £36,138 £34,580
Add desired ending inventory £6,916 £6,878
Total needs £43,054 £41,458
Less beginning inventory £48,800 £12,662
Required purchases - £28,796

Cash disbursement for purchase £24,400 £6,331

£24,000 £24,400
Total £0 £30,731
 Mar Apr May Jun Jul
£34,390 £32,908 £33,364 £35,150 £34,922
£6,582 £6,673 £7,030 £6,984 £7,053
£40,972 £39,581 £40,394 £42,134 £41,975
£6,878 £6,582 £6,673 £7,030 £6,984
£34,094 £32,999 £33,721 £35,104 £34,990

£17,047 £16,500 £16,861 £17,552 £17,495

£17,271 £17,047 £16,500 £16,861 £17,552
£34,318 £33,546 £33,360 £34,413 £35,047

Mar Apr May Jun Jul

£30,263 £28,959 £29,360 £30,932 £30,731
£5,792 £5,872 £6,186 £6,146 £6,206
£36,055 £34,831 £35,547 £37,078 £36,938
£6,053 £5,792 £5,872 £6,186 £6,146
£30,002 £29,039 £29,675 £30,892 £30,792

15001.2 14519.6 14837.3 15445.9 15395.8

15198.5 15001.2 14519.6 14837.3 15445.9
30199.7 29520.8 29357.0 30283.3 30841.7

Mar Apr May Jun Jul

£41,268 £39,490 £40,037 £42,180.0 £41,906
£7,898 £8,007 £8,436 £8,381.3 £8,463
£49,166 £47,497 £48,473 £50,561.3 £50,370
£8,254 £7,898 £8,007 £8,436.0 £8,381
£40,912 £39,599 £40,465 £42,125.3 £41,988

£20,456 £19,800 £20,233 £21,063 £20,994

£20,725 £20,456 £19,800 £20,233 £21,063
£41,181 £40,256 £40,032 £41,295 £42,057
 Mar Apr May Jun Jul
£34,390 £32,908 £33,364 £35,150 £34,922
£6,582 £6,673 £7,030 £6,984 £7,053
£40,972 £39,581 £40,394 £42,134 £41,975
£6,878 £6,582 £6,673 £7,030 £6,984
£34,094 £32,999 £33,721 £35,104 £34,990

£3,439 £3,291 £3,336 £3,515 £3,492

£6,331 £3,439 £3,291 £3,336 £3,515
£9,770 £6,730 £6,627 £6,851 £7,007
 Aug Sep Oct Nov Dec Jan
£35,264 £35,036 £36,024 £36,404 £49,970 £37,544
£7,007 £7,205 £7,281 £9,994 £7,509 £0
£42,271 £42,241 £43,305 £46,398 £57,479 £37,544
£7,053 £7,007 £7,205 £7,281 £9,994 £7,509
£35,218 £35,234 £36,100 £39,117 £47,485 £30,035

£17,609 £17,617 £18,050 £19,559 £23,742 £15,018

£17,495 £17,609 £17,617 £18,050 £19,559 £23,742
£35,104 £35,226 £35,667 £37,609 £43,301 £38,760

Aug Sep Oct Nov Dec Jan

£31,032 £30,832 £31,701 £32,036 £43,974 £33,039
£6,166 £6,340 £6,407 £8,795 £6,608 £0
£37,199 £37,172 £38,108 £40,830 £50,581 £33,039
£6,206 £6,166 £6,340 £6,407 £8,795 £6,608
£30,992 £31,006 £31,768 £34,423 £41,787 £26,431

15496.1 15502.8 15884.0 17211.6 20893.3

15395.8 15496.1 15502.8 15884.0 17211.6
30891.9 30998.9 31386.8 33095.6 38104.9

Aug Sep Oct Nov Dec Jan

£42,317 £42,043 £43,229 £43,685 £59,964 £45,053
£8,409 £8,646 £8,737 £11,993 £9,011
£50,725 £50,689 £51,966 £55,678 £68,975
£8,463 £8,409 £8,646 £8,737 £11,993 £9,011
£42,262 £42,280 £43,320 £46,941 £56,982

£21,131 £21,140 £21,660 £23,470 £28,491 £0

£20,994 £21,131 £21,140 £21,660 £23,470
£42,125 £42,271 £42,800 £45,130 £51,961
 Aug Sep Oct Nov Dec Jan
£35,264 £35,036 £36,024 £36,404 £49,970 £37,544
£7,007 £7,205 £7,281 £9,994 £7,509
£42,271 £42,241 £43,305 £46,398 £57,479
£7,053 £7,007 £7,205 £7,281 £9,994 £7,509
£35,218 £35,234 £36,100 £39,117 £47,485

£3,526 £3,504 £3,602 £3,640 £4,997 £3,754

£3,492 £3,526 £3,504 £3,602 £3,640 £4,997
£7,019 £7,030 £7,106 £7,243 £8,637 £8,751
2b. Schedule of expected cash disbursements for merchandise purchases
scenario 0
Jan
Account Payable £24,000
January purchases -
February purchases -
March purchases -
April purchases -
May purchases -
June purchases -
July purchases -
August purchases -
September purchases -
October purchases -
November purchases -
December purchases -
Total cash disbursements for purchases £24,000

scenario 1
Jan
Account payable £24,000
January purchases -
February purchases -
March purchases -
April purchases -
May purchases -
June purchases -
July purchases -
August purchases -
September purchases -
October purchases -
November purchases -
December purchases -
Total cash disbursements for purchases £24,000

scenario 2
Jan
Account Payable £24,000
January purchases £1,432.4
February purchases -
March purchases -
April purchases -
May purchases -
June purchases -
July purchases -
August purchases -
September purchases -
October purchases -
November purchases -
December purchases -
Total cash disbursements for purchases £25,432

scenario 3:
Jan
Account Payable £24,000
January purchases -
February purchases -
March purchases -
April purchases -
May purchases -
June purchases -
July purchases -
August purchases -
September purchases -
October purchases -
November purchases -
December purchases -
Total cash disbursements for purchases £24,000
 Feb March April May June
- - - - -
- - - - -
£17,271 £17,271 - - -
- £17,047 £17,047 - -
- - £16,500 £16,500 -
- - - £16,861 £16,861
- - - - £17,552
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
£17,271 £34,318 £33,547 £33,360 £34,413

Feb March April May June

- - - - -
- - - - -
£15,198 £15,198 - - -
- £15,001 £15,001 - -
- - £14,520 £14,520 -
- - - £14,837 £14,837
- - - - £15,446
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
£15,198 £30,200 £29,521 £29,357 £30,283

Feb March April May June

- - - - -
£1,432 - - - -
 £20,725 £20,725 - - -
- £20,456 £20,456 - -
- - £19,800 £19,800 -
- - - £20,233 £20,233
- - - - £21,063
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
£22,158 £41,181 £40,256 £40,032 £41,295

Feb March April May June

- - - - -
- - - - -
- £34,542 - - -
- - £34,094 - -
- - - £32,999 -
- - - - £33,721
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
£0 £34,542 £34,094 £32,999 £33,721
 July August September October November
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
£17,552 - - - -
£17,495 £17,495 - - -
- £17,609 £17,609 - -
- - £17,617 £17,617 -
- - - £18,050 £18,050
- - - - £19,559
- - - - -
£35,047 £35,104 £35,226 £35,667 £37,609

July August September October November

- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
£15,446 - - - -
£15,396 £15,396 - - -
- £15,496 £15,496 - -
- - £15,503 £15,503 -
- - - £15,884 £15,884
- - - - £17,212
- - - - -
£30,842 £30,892 £30,999 £31,387 £33,096

July August September October November

- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
£21,063 - - - -
£20,994 £20,994 - - -
- £21,131 £21,131 - -
- - £21,140 £21,140 -
- - - £21,660 £21,660
- - - - £23,470
- - - - -
£42,057 £42,125 £42,271 £42,800 £45,130

July August September October November

- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
£35,104 - - - -
- £34,990 - - -
- - £35,218 - -
- - - £35,234 -
- - - - £36,100
- - - - -
- - - - -
£35,104 £34,990 £35,218 £35,234 £36,100
 December
-
-
-
-
-
-
-
-
-
-
-
£19,559
£23,743
£43,301

December
-
-
-
-
-
-
-
-
-
-
-
£17,212
£23,181
£40,392

December
-
-
 -
-
-
-
-
-
-
-
-
£23,470
£28,491
£51,961

December
-
-
-
-
-
-
-
-
-
-
-
£39,117
-
£39,117
3. Schedule of expected cash disbursements for selling and administrative expenses
scenario 0

Salaries and wages

Marketing expense
Rental cost
Other expense
Total cash disbursements for selling and administrative expenses

scenario 4

Salaries and wages

Marketing expense
Rental cost
Other expense
Total cash disbursements for selling and administrative expenses

scenario 2

Salaries and wages

Marketing expense
Rental cost
Other expense
Total cash disbursements for selling and administrative expenses
e expenses

Jan Feb Mar Apr May Jun

£12,000 £12,000 £12,000 £12,000 £12,000 £12,000
£4,000 £4,000 £4,000 £4,000 £4,000 £4,000
£8,000 £8,000 £8,000 £8,000 £8,000 £8,000
£1,000 £1,000 £1,000 £1,000 £1,000 £1,000
£25,000 £25,000 £25,000 £25,000 £25,000 £25,000

Jan Feb Mar Apr May Jun

£ 12,000 £ 12,000 £ 12,000 £ 12,000 £ 12,000 £ 12,000
£ 4,000 £ 4,000 £ 4,000 £ 4,000 £ 4,000 £ 4,000
£ 6,800 £ 6,800 £ 6,800 £ 6,800 £ 6,800 £ 6,800
£ 1,000 £ 1,000 £ 1,000 £ 1,000 £ 1,000 £ 1,000
£ 23,800 £ 23,800 £ 23,800 £ 23,800 £ 23,800 £ 23,800

Jan Feb Mar Apr May Jun

£ 12,000 £ 12,000 £ 12,000 £ 12,000 £ 12,000 £ 12,000
£ 4,400 £ 4,400 £ 4,400 £ 4,400 £ 4,400 £ 4,400
£ 8,000 £ 8,000 £ 8,000 £ 8,000 £ 8,000 £ 8,000
£ 1,000 £ 1,000 £ 1,000 £ 1,000 £ 1,000 £ 1,000
£ 25,400 £ 25,400 £ 25,400 £ 25,400 £ 25,400 £ 25,400
Jul Aug Sep Oct Nov Dec
£12,000 £12,000 £12,000 £12,000 £12,000 £12,000
£4,000 £4,000 £4,000 £4,000 £4,000 £4,000
£8,000 £8,000 £8,000 £8,000 £8,000 £8,000
£1,000 £1,000 £1,000 £1,000 £1,000 £1,000
£25,000 £25,000 £25,000 £25,000 £25,000 £25,000

Jul Aug Sep Oct Nov Dec

£ 12,000 £ 12,000 £ 12,000 £ 12,000 £ 12,000 £ 12,000
£ 4,000 £ 4,000 £ 4,000 £ 4,000 £ 4,000 £ 4,000
£ 6,800 £ 6,800 £ 6,800 £ 6,800 £ 6,800 £ 6,800
£ 1,000 £ 1,000 £ 1,000 £ 1,000 £ 1,000 £ 1,000
£ 23,800 £ 23,800 £ 23,800 £ 23,800 £ 23,800 £ 23,800

Jul Aug Sep Oct Nov Dec

£ 12,000 £ 12,000 £ 12,000 £ 12,000 £ 12,000 £ 12,000
£ 4,400 £ 4,400 £ 4,400 £ 4,400 £ 4,400 £ 4,400
£ 8,000 £ 8,000 £ 8,000 £ 8,000 £ 8,000 £ 8,000
£ 1,000 £ 1,000 £ 1,000 £ 1,000 £ 1,000 £ 1,000
£ 25,400 £ 25,400 £ 25,400 £ 25,400 £ 25,400 £ 25,400
4. Cash budget
scenario 0
Jan Feb Mar
Cash balance, beginning £18,000 £48,442 £94,563
Add cash collections £79,442 £87,619 £86,118
Total cash available £97,442 £136,060 £180,681
Less cash disbursements
Cash disbursements for purchases £24,000 £17,271 £34,318
Cash disbursements for S&A £25,000 £25,000 £25,000
Advertising project £1,580
The maintainance service
New company service £3,700
Total cash disbursements £49,000 £45,971 £60,898
Excess (deficiency) of cash £48,442 £90,089 £119,783
Financing
Borrowing - - -
Payments - - -
Interest - - -
Total financing - - -
Ending cash balance £48,442 £90,089 £119,783

scenario 1:
Jan Feb Mar
Cash balance, beginning £18,000 £40,853 £94,563
Add cash collections £71,853 £77,104 £75,783
Total cash available £89,853 £117,957 £170,346
Less cash disbursements
Cash disbursements for purchases £24,000 £15,198 £30,200
Cash disbursements for S&A £25,000 £25,000 £25,000
Advertising project £1,580
The maintainance service
New company service £3,700
Total cash disbursements £49,000 £43,898 £56,780
Excess (deficiency) of cash £40,853 £74,058 £113,567
Financing
Borrowing - - -
Payments - - -
Interest - - -
Total financing - - -
Ending cash balance £40,853 £74,058 £113,567

scenario 4:
Jan Feb Mar
Cash balance, beginning £18,000 £50,662 £94,563
Add cash collections £79,442 £87,619 £86,118
Total cash available £97,442 £138,280 £180,681
Less cash disbursements
Cash disbursements for purchases £24,000 £17,271 £34,318
Cash disbursements for S&A £22,780 £22,780 £22,780
Advertising project £1,580
The maintainance service
New company service £3,700
Total cash disbursements £46,780 £43,751 £58,678
Excess (deficiency) of cash £50,662 £94,529 £122,003
Financing
Borrowing - - -
Payments - - -
Interest - - -
Total financing - - -
Ending cash balance £50,662 £94,529 £122,003

scenario 2:
Jan Feb Mar
Cash balance, beginning £18,000 £59,257 £94,563
Add cash collections £92,090 £105,142 £103,341
Total cash available £110,090 £164,400 £197,904
Less cash disbursements
Cash disbursements for purchases £25,432 £22,158 £41,181
Cash disbursements for S&A £25,400 £25,400 £25,400
Advertising project £1,580
The maintainance service
New company service £3,700
Total cash disbursements £50,832 £51,258 £68,161
Excess (deficiency) of cash £59,257 £113,142 £129,743
Financing
Borrowing - - -
Payments - - -
Interest - - -
Total financing - - -
Ending cash balance £59,257 £113,142 £129,743

scenario 3:
Jan Feb Mar
Cash balance, beginning £18,000 £49,642 £94,563
Add cash collections £79,442 £87,619 £86,118
Total cash available £97,442 £137,261 £180,681
Less cash disbursements
Cash disbursements for purchases £24,000 - £34,542
Cash disbursements for S&A £23,800 £23,800 £23,800
Advertising project £1,580
The maintainance service
New company service £3,700
Total cash disbursements £47,800 £27,500 £59,922
Excess (deficiency) of cash £49,642 £109,761 £120,759
Financing
Borrowing - - -
Payments - - -
Interest - - -
Total financing - - -
Ending cash balance £49,642 £109,761 £120,759
Apr May Jun Jul Aug
£119,783 £142,618 £167,326 £194,449 £220,878
£83,382 £83,068 £86,536 £87,476 £87,904
£203,164 £225,686 £253,861 £281,925 £308,781

£33,547 £33,360 £34,413 £35,047 £35,104

£25,000 £25,000 £25,000 £25,000 £25,000

£2,000 £1,000
£60,547 £58,360 £59,413 £61,047 £60,104
£142,618 £167,326 £194,449 £220,878 £248,677

- - - - -
- - - - -
- - - - -
- - - - -
£142,618 £167,326 £194,449 £220,878 £248,677

Apr May Jun Jul Aug

£113,567 £130,422 £149,164 £170,032 £190,170
£73,376 £73,100 £76,151 £76,979 £77,355
£186,942 £203,521 £225,316 £247,011 £267,525

£29,521 £29,357 £30,283 £30,842 £30,892

£25,000 £25,000 £25,000 £25,000 £25,000

£2,000 £1,000
£56,521 £54,357 £55,283 £56,842 £55,892
£130,422 £149,164 £170,032 £190,170 £211,633

- - - - -
- - - - -
- - - - -
 - - - - -
£130,422 £149,164 £170,032 £190,170 £211,633

Apr May Jun Jul Aug

£122,003 £147,058 £173,986 £203,329 £231,978
£83,382 £83,068 £86,536 £87,476 £87,904
£205,384 £230,126 £260,521 £290,805 £319,881

£33,547 £33,360 £34,413 £35,047 £35,104

£22,780 £22,780 £22,780 £22,780 £22,780

£2,000 £1,000
£58,327 £56,140 £57,193 £58,827 £57,884
£147,058 £173,986 £203,329 £231,978 £261,997

- - - - -
- - - - -
- - - - -
- - - - -
£147,058 £173,986 £203,329 £231,978 £261,997

Apr May Jun Jul Aug

£129,743 £162,145 £196,394 £233,541 £270,056
£100,058 £99,682 £103,843 £104,971 £105,484
£229,800 £261,826 £300,237 £338,513 £375,540

£40,256 £40,032 £41,295 £42,057 £42,125

£25,400 £25,400 £25,400 £25,400 £25,400

£2,000 £1,000
£67,656 £65,432 £66,695 £68,457 £67,525
£162,145 £196,394 £233,541 £270,056 £308,015
 - - - - -
- - - - -
- - - - -
- - - - -
£162,145 £196,394 £233,541 £270,056 £308,015

Apr May Jun Jul Aug

£120,759 £144,247 £170,516 £199,531 £227,103
£83,382 £83,068 £86,536 £87,476 £87,904
£204,141 £227,315 £257,052 £287,007 £315,007

£34,094 £32,999 £33,721 £35,104 £34,990

£23,800 £23,800 £23,800 £23,800 £23,800

£2,000 £1,000
£59,894 £56,799 £57,521 £59,904 £58,790
£144,247 £170,516 £199,531 £227,103 £256,216

- - - - -
- - - - -
- - - - -
- - - - -
£144,247 £170,516 £199,531 £227,103 £256,216
Sep Oct Nov Dec
£248,677 £271,712 £298,264 £326,381
£87,761 £89,319 £90,725 £114,751
£336,438 £361,031 £388,989 £441,131

£35,226 £35,667 £37,609 £43,301

£25,000 £25,000 £25,000 £25,000
£4,500
£2,100

£64,726 £62,767 £62,609 £68,301

£271,712 £298,264 £326,381 £372,830

- - - -
- - - -
- - - -
- - - -
£271,712 £298,264 £326,381 £372,830

Sep Oct Nov Dec

£211,633 £228,364 £248,478 £270,220
£77,230 £78,601 £79,838 £100,980
£288,863 £306,964 £328,316 £371,200

£30,999 £31,387 £33,096 £40,392

£25,000 £25,000 £25,000 £25,000
£4,500
£2,100

£60,499 £58,487 £58,096 £65,392

£228,364 £248,478 £270,220 £305,808

- - - -
- - - -
- - - -
 - - - -
£228,364 £248,478 £270,220 £305,808

Sep Oct Nov Dec

£261,997 £287,252 £316,024 £346,361
£87,761 £89,319 £90,725 £114,751
£349,758 £376,571 £406,749 £461,111

£35,226 £35,667 £37,609 £43,301

£22,780 £22,780 £22,780 £22,780
£4,500
£2,100

£62,506 £60,547 £60,389 £66,081

£287,252 £316,024 £346,361 £395,030

- - - -
- - - -
- - - -
- - - -
£287,252 £316,024 £346,361 £395,030

Sep Oct Nov Dec

£308,015 £341,157 £378,039 £416,379
£105,313 £107,183 £108,870 £137,701
£413,328 £448,339 £486,909 £554,080

£42,271 £42,800 £45,130 £51,961

£25,400 £25,400 £25,400 £25,400
£4,500
£2,100

£72,171 £70,300 £70,530 £77,361

£341,157 £378,039 £416,379 £476,718
 - - - -
- - - -
- - - -
- - - -
£341,157 £378,039 £416,379 £476,718

Sep Oct Nov Dec

£256,216 £280,459 £308,644 £339,469
£87,761 £89,319 £90,725 £114,750
£343,977 £369,778 £399,369 £454,219

£35,218 £35,234 £36,100 £39,117

£23,800 £23,800 £23,800 £23,800
£4,500
£2,100

£63,518 £61,134 £59,900 £62,917

£280,459 £308,644 £339,469 £391,302

- - - -
- - - -
- - - -
- - - -
£280,459 £308,644 £339,469 £391,302