Westbury-sub-Mendip Village Shop
Business Plan August 2013 – July 2016
Westbury-sub-Mendip Village Shop
Stoke Road
Westbury-sub-Mendip
BA5 1HD
E-mail [email protected]
Web site www.westbury-sub-mendip.org.uk
Contents
Page
1. Summary ................................................................................................................3
2. Business overview ................................................................................................4
Introduction
Current position
Competitive advantage
Growth plan
3. Business strategy ..................................................................................................5
Tactics
Strategic issues
Core values
4. Marketing ................................................................................................................7
Risk assessment and critical success factors
Market research
Strategic alliances
5. Team and management structure ........................................................................9
Skills, experience, training and retention
Advisors
Management systems
6. Financial budgets and forecasts ..........................................................................10
Profit and loss forecast
Cash flow forecast
Share Issue scenarios
Westbury-sub-Mendip Shop Business Plan August 2013
Page 2
1. Summary
The Westbury-sub-Mendip Shop Project was set up in March 2013 to develop a strategy to prevent the
village shop closing.
The Committee of the Westbury-sub-Mendip Shop project considered various options and decided that
setting up a community based company to purchase the freehold from the existing owner, LA Moore &
Co Ltd, was the best approach in order to influence future development and thereby reduce the risk of
closure.
An Industrial Provident Society company was formed in August 2013 with the support of the Plunkett
Foundation. Investment will be sought in September 2013 by way of a share capital issue to cover the
majority of the costs of purchasing the freehold of the property plus some initial refurbishment.
It is likely that additional funds from grant giving organisations, plus a loan will be required to enable the
new company to take over ownership of the freehold.
Once the Westbury-sub-Mendip Shop Project has acquired ownership of the property, the village will
charge a rent for the shop premises and the residential flat above the shop. The rent will be set at
market value for the flat and 25% below market value for the shop premises in order to make the shop
and post office a more viable business and alleviate the financial burden on the shopkeeper.
The property has been offered at a price of £185,000. It is hoped that investment by way of shares will
raise in excess of £100,000.
The shop is ideally placed within the village and once owned by the community there will be an
increased sense of loyalty to support its development.
Westbury-sub-Mendip Shop Business Plan August 2013
Page 3
2. Business overview
Introduction
Westbury-sub-Mendip village shop is a much valued resource to people in the village. It has historically
been privately owned and managed. The shop’s viability was at risk four years ago and its future was
threatened once again at the beginning of 2013 when the manager and tenant announced her intention
not to renew her lease later in the year.
Two well attended meetings were organised by the Parish Council in February and March 2013. The
high turnout was evidence of strong support from the village community. A group of villagers formed the
Westbury-sub-Mendip Village Shop Project Committee to look at the best way to secure the village shop
for the village.
Following much discussion it was concluded that a community owned shop was more likely to succeed
than a private concern because a high level of stakeholder involvement will result in a sense of
ownership ensuring that more villagers use the shop.
The translation of this “village involvement” ethos into legal ownership is best achieved via an Industrial
and Provident Society (IPS http://www.makinglocalfoodwork.co.uk/about/gs/IPS.cfm). This model is
operated at other similar village locations elsewhere in the country and is recognised as a viable
approach to maintaining a vibrant village shop in rural locations.
The Westbury-sub-Mendip Village Shop Project Committee has created an IPS registered by the FCA
(Registration Number: 32153 R) in order to purchase the freehold of the village shop and post office
currently owned by LA Moore & Co Ltd and let it back to a shop manager at an affordable rent.
This will ensure that the following services will continue to be provided to the community:
•
•
•
•
•
daily supplies (milk, bread, newspapers, etc)
access to Post Office services in the village
availability of good quality local produce
community hub where people can meet, make friends and exchange information
the opportunity for local businesses to advertise their services and products via the notice
board
Current position
The community shop model has proved itself to be very robust. Out of a total of 280 community shops
established in the UK, only 10 have closed, which is a 96.5% success rate. It is well proven that
communities that work together to set up such a venture will support it in the future.
The Westbury Village Shop Project Committee has registered the company as an IPS with support from
the Plunkett Foundation (http://www.plunkett.co.uk) and will launch a share offering to the community to
purchase the building. Shares are set at £10 each and will grant each member one vote at General
Meetings irrespective of the amount they invest. This will enhance the sense of community ownership
and will encourage as many people in the community as possible to invest and offer their services for
the benefit of the shop and ultimately to the village community. The share issue will be launched at a
th
public meeting on the 5 September 2013.
A number of individuals in the village have expressed interest in investing several thousands of pounds
in the company and their investment, together with smaller investments, will be used to purchase the
freehold of the property from LA Moore & Co Ltd. The value of the property will act as security should
the business fail; in that event the freehold can be sold to a new owner and investors will be repaid with
the exception of the first £10 nominal value of their shareholding.
The Westbury Village Shop Project will lease the shop back at a reduced rent to a manager who will be
assisted by volunteers from the village (volunteers have been working in the shop since 2009).
Competitive advantage
It is unlikely that another business will compete against the Westbury-sub-Mendip Village Shop Project
as a shop of this type is not commercially viable unless some rent subsidy is available. Under the
proposed model villagers will have a substantial emotional and economic investment in maintaining the
shop and for it to continue to provide essential services to the community and businesses in the village.
Westbury-sub-Mendip Shop Business Plan August 2013
Page 4
The post office in Westbury-sub-Mendip currently provides more services than other small post offices
nearby. Several customers come from the Wells area where no parking is available outside the Post
Office and depot.
Most supermarkets offer a delivery service but either charge a substantial amount for the delivery or
want a minimum shopping spend. We anticipate that most of the regular customers at the Westburysub-Mendip shop will spend small amounts and buy perishable food nearly daily. Local fresh
vegetables and local pies are very popular.
The shop is well positioned to benefit from passing trade and custom from parents and children as they
come in and out of school.
The social aspect of the shop can only be provided by a local shop.
Growth plan
One of the growing trends demonstrated by the Plunkett Foundation 2012 research is the growth, and
importance of Local Food to community shops. 97% of community shops stock and sell local food to
some extent, and this was rated by shops as their most profitable line.
We also believe that community ownership of the building and regular engagement with the community
will result in increased sales from within the community.
Growth for the village shop in its current location is limited by parking restrictions and floor space.
The Village Shop Project Committee will pursue other better locations for the shop and post office to
move to and will work closely with the Parish Council once a planned housing development gets under
way to ensure that there is provision on any new site for the shop and post office. At that stage the
freehold will be sold and the sale proceeds reinvested in the new premises.
It is recognised that in the early years of the shop project the emphasis will be upon maintaining the
shop in its current format and ensuring that the shopkeeper is able to earn a living which in turn will
ensure that the rental income to the IPS is received when it is due.
3. Business strategy
Westbury-sub-Mendip is a village in Somerset, England, with a population of about 800, situated on the
southern slopes of the Mendip Hills 4 miles (6.4 km) from Wells and Cheddar. The 2011 census shows
that:

24.1% of the village population is over 65 years old compared with 16.5% national average

11.9% of the population daily activities are limited compared with 9.4% national average

61.5% of the village population is retired compared with 45.6% national average
The main strategic advantage of the business is to provide a service to the local community from a
central location. Community ownership, the provision of a volunteer work force and the selling of locally
sourced food and other products are all important aspects of this community ethos.
The current shop has a central location in the village. It is opposite St Lawrence primary school, close
to the Westbury Inn pub and within walking distance of a sheltered housing scheme. The majority of
village houses are within a 10 minute walk of the shop.
The proximity of the school and the retention of the Post Office facilities mean that a guaranteed footfall
will continue within the shop.
As well as residents of Westbury-Sub-Mendip using the shop there is a thriving small industrial estate at
the bottom of Station Road, where approximately 150 people from outside the village work each day. In
addition the neighbouring villages of Easton and Rodney Stoke do not have a shop and Priddy doesn’t
have a post office increasing the demand for services provided by the Westbury-sub-Mendip shop.
As well as the purely transactional aspect of the shop it also provides a location for social interaction, a
community hub and a space for local services to be promoted.
The Westbury Village project committee will be promoting volunteering opportunities and will be keen to
attract young and/or unemployed people who will benefit from the work experience. Older people
suffering from social isolation will also benefit from the interaction with other members of the community.
Westbury-sub-Mendip Shop Business Plan August 2013
Page 5
Strategic drives
The main strategic drives will be
a)
b)
c)
to purchase the freehold of the shop
the provision and the management of the volunteer workforce to the shop
to maintain a close relationship with the Parish Council regarding the development of housing
initiatives in the village
At this stage the Westbury Village Project committee does not intend to take on the management of the
shop but to be a replacement landlord to LA Moore & Co Ltd. We shall however be responsible for the
recruitment and management of the volunteers, maintain a very close watching brief over the shop and
meet regularly with the shopkeeper to ensure that any potential problems are identified in good time. If
there is any change in the current business arrangements the Westbury-sub-Mendip Shop Project
Committee may take over the running of the shop after due consultation with the shareholders. This
could be achieved through the recruitment of a manager who would work under the direction of the
committee. This change of operating model would also mean that the company complies with HMRC
social enterprise rules and investors would then become eligible for tax relief on their investment.
It is recognised that the current shop location and facilities fall short of modern needs due to lack of
parking, small range of goods for sale and cramped shopping area. At some time in the future there is
likely to be a change in premises and the committee will want to be involved in discussions with the
Parish Council and any developer at an early juncture.
Initial Plans
The Westbury Village Shop Project committee will be launching a share issue in September 2013 and
plans to purchase the property during December 2013/January 2014. A grant application has been
made to Aster Group (the housing association which manages the social houses in Stoneleigh) for some
Efficiency Saving Funding which will pay for the refurbishment of the shop and provision of toilet and
washing facilities for staff and volunteers. It is anticipated that the works will be carried out by local
trades people between January and March 2014.
The main purpose of the share issue is to raise sufficient funds to enable the company to purchase the
freehold premises. If less than £100,000 is secured through the share offer, the company is unlikely be
able to proceed with the purchase. Any shortfall between the asking price and funds raised through the
share issue and any grant funding we are able to secure will be met by a bank loan.
An independent valuation and structural survey of the property will be sought prior to purchase to ensure
that the asking price of £185,000 is reasonable and that any necessary additional structural repairs can
be afforded.
Once the building is purchased, the Village Shop Project will let the shop premises at a subsidised rent
and the flat will be let at market rent value.
The committee will explore relevant grants and complete applications to reduce reliance on bank loans
and prepare for the eventuality of share holders wanting to withdraw their investment.
In the following 3-5 years the Village Shop Project Committee will pursue a better location for the shop
and post office and will work closely with the Parish Council once a planned housing development gets
under way to ensure that there is provision on the new site for the shop and post office.
Core values
The Westbury Village Shop project committee believes that community ownership of the village shop
and post office provides value for money in the following ways:
Social:
•
Post Office and retail services to the community
Westbury-sub-Mendip Shop Business Plan August 2013
Page 6
•
•
•
•
•
•
Ownership will help secure the long term viability of the shop for Westbury (a much needed
facility)
Retain old and recruit new volunteers for the shop
Provide opportunities for educational activities and work experience for school children and
young adults
Reduce rural social isolation
Provide an outlet for local arts and crafts
Provide a box office service for village events by selling tickets and managing the shop notice
board.
Environmental and well being:
•
Promote tourism, by selling locally produced walking leaflets
•
Encourage young and older people to be more active and less dependant on transport
•
Provide an outlet for local produce
•
Offer local planning authorities an outlet for planning submission consultations
•
Achieve a reduction in carbon footprint and food miles
•
Advertise warnings about explosions from the local quarry
Economic:
•
Provide volunteering and employment opportunities
•
Provide a vital service to small businesses in the village
•
Ensure that the community is economically active
•
Sustain a thriving rural community
•
Provide work to local trades people through the refurbishment and maintenance of the
building
4. Marketing
Risk assessment and critical success factors
The risks identified are detailed below:
Risk
Failure to secure the property due to insufficient
funding
Mitigation strategy
•
•
The Westbury-sub-Mendip Shop Project is
unlikely to proceed with the purchase of
the shop if less than £100,000 is realized
with the share issue
A loan will be negotiated for the shortfall if
the share issue does not reach the full
asking price
Lack of volunteers
•
The Westbury Shop Community Benefit
Society will be promoting volunteering
opportunities within the village for young
people who will benefit from the work
experience, older people who will benefit
from the social interaction and people who
want to give their time to help the
community
Difficulties in retaining volunteers
•
•
Training will be provided
Funding will be secured to improve
facilities for staff and volunteers (toilet and
washing facilities)
Volunteers are and will continue to be
involved in the refurbishment
•
Shopkeeper is unable to pay the rent
•
Westbury-sub-Mendip Shop Business Plan August 2013
Need to get enough working capital to
cover periods of void
Page 7
The manager is no longer interested in managing the
shop
•
•
£20k share investment per person limitation
•
•
The Westbury Community Benefit Society
will call a general meeting of the
shareholders and ask them whether they
want to look for another tenant manager or
advertise for a manager that the company
will employ (see tax relief on shares
implications above)
Need to build into the lease agreement six
months notice to prepare for succession.
Spread the share purchase between family
members or companies
Establish additional legal vehicles for larger
sole investors
Market research
The Parish Council held two well attended open meetings where villagers eloquently expressed how
important the village shop and post office is to them.
The village and post office will ensure that the following services continue to be provided to the
community:
•
•
•
•
daily supplies (milk, bread, newspapers, etc) and basic provisions
access to Post Office services in the village
availability of good quality local produce
community hub where people can meet, make friends and exchange information
The retention of the village shop and post office will also maintain the value of properties in the village.
Strategic alliances
The Plunkett Foundation
Will provide us with invaluable support such as:

Information, Advice and Support; Plunkett employs a team of people who can provide a wide
range of advice and support to any community considering setting up or already running
community enterprises in rural areas. This advice can be provided over the phone, by email, or
in person either at their office in Oxfordshire, or by visiting you’re the community.

A National Network of Community Advisers; Plunkett employs six Community Advisers
across the UK who visit communities directly to provide tailored advice and support at all
stages of their development. Advisers can help to talk through the community’s options, help
develop the vision for a new or improved community enterprise and support the development of
an Action Plan to set the community off in the right direction. Advisers also stay in touch with
community enterprises once trading to ensure they remain sustainable and able to access
support when needed.
Advisers can be contacted via the Plunkett Foundation on 01993 810730.

Online Networks; Plunkett have dedicated community shops and co-operative pubs websites,
and these enable those involved with community shops and co-operative pubs to network with
each other and share best practice via a forum. The sites also hosts a wide range of
information including resources, tools, news, advice, and case studies and issues regular
newsletter containing information relevant to community shops. Becoming a registered user of
these sites (which is free) enables members to access more information and materials, and
receive relevant newsletters.
Visit Community Shops Online at www.communityshops.coop and Co-operative Pubs
The Co-op
The Westbury-sub-Mendip Shop Project will bank with the Cooperative bank and contacts within their
Co-operative organisation will give access to surplus shop fixtures and fittings.
Westbury-sub-Mendip Shop Business Plan August 2013
Page 8
Aster Group
Aster Group does more than just provide homes. As a social landlord they understand they can play a
part in building strong, thriving communities.
Aster Group has a social housing development in the village and we have made a grant application
against their Efficiency Saving Fund.
Rural Shops Alliance
The Rural Shops Alliance provides practical help to shopkeepers to improve their businesses in a
variety of ways. Their web site and their journal, Rural Retailer, provide up-to-date guidance on what is
happening in retail industry and advice on issues such as displays, ranging and legislation. They provide
training and support for rural retailers and volunteers, with the help of their county members and grocery
industry partners.
5. Team and management structure
The Westbury-sub-Mendip Village Shop project Committee consists of six local residents who have met
since March 2013 and have developed these plans. All of them have a long standing association and
have worked in some capacity with civic organisations which are central to the village. They bring with
them a range of different skills which are key to the success of this project.
Skills, experience, training and retention
Management Committee
Myriam Kniveton (Chair),
Mark Smith (Secretary),
Simon Bruce (Treasurer)
John Cozens (Vice Chair),
Julie Baker,
Penny Colwill,
Myriam Kniveton (Chair); Myriam has lived for over 20 years in Westbury where her children Tegan
and Troy attended the village school. Over the years, she has been a school governor at St
Lawrence’s, and a member of the Footlights as well as the Art group. Most of her career has been
dedicated to providing and delivering services for vulnerable people across the South West and she
currently runs a consultancy company providing support and expertise to voluntary sector organisations
and charities. Myriam’s skills and experience include:
•
Management
•
Business strategy
•
Development
•
Finance
John Cozens (Vice-Chair); Now retired, John spent his career in the brewing industry, most recently as
the Master Brewer for Carlton & United Breweries in Melbourne, Australia. Married to Kate who is a
former parent governor, with two sons who both attended St Lawrence’s primary school, John is a
Westbury pub quiz team regular, and has been in Westbury since 1996. He is a strong believer in the
need to retain and develop all of our village facilities. John’s skills and experience include:
•
Management
•
Strategy
•
Marketing
Mark Smith (Secretary); Mark has a professional background in public and private sector IT Services,
and in Teaching. He has been Clerk to the Parish Council since 2011. He is a keen supporter of local
transport initiatives, local businesses, and the Mendip Hills AONB and 'You Can Do' volunteer groups.
Mark’s skills and experience include:
•
IT
•
Prince II Project Management
•
Administration
Simon Bruce (Treasurer); Simon moved to Somerset in 1990 and has lived in the village since 1999.
Both of his children attended the St Lawrence's primary school where he was a parent governor. He is
a Chartered Accountant and has his own accountancy practice in Wells. Simon has been a trustee of
Westbury-sub-Mendip Shop Business Plan August 2013
Page 9
the City of Wells Almshouses since 2007, and recognises the importance of effective actions within the
community.
Simon’s skills and experience include:
•
Management
•
Marketing
•
Finance
Julie Baker; Julie moved to Westbury-sub-Mendip in 1994 and has worked as a part-time community
support worker in the Wells area and Cheddar Valley since 1996. During this time she has also been
employed as both Public Relations and Press Officer to the former Member of Parliament for
Wells. Julie is very proud of her West Country roots and recognises the need to support our local
community, particularly those who are most vulnerable. Julie’s skills and experience include:
•
Community work
•
Public relations
Penny Colwill; Penny settled in Westbury-sub-Mendip after many years travelling the world as part of a
military family. With a background in medical administration, Penny, in recent years, has worked in retail
for a small, local business and understands the challenge of working successfully with limited space and
resources. Penny’s skills and experience include:
•
fundraising
•
sales
•
marketing
All members of the committee will need to be re elected every year at the Annual General Meeting of the
company for up to a maximum of five years.
Advisors
Plunkett Foundation, Aster Community Group
Management systems
A simple software package (Quickbooks or Sage Instant) will be used to record and report upon the
business. Since the initial business model is principally one of landlord with a single tenant it is not
envisaged that anything other than a very rudimentary reporting system will be necessary. Attention will
be placed to cashflow and banking arrangements especially in the early stages to ensure that funds are
suitably invested prior to the purchase of the property.
6. Financial budgets and forecasts
A projection of several scenarios for the share issue has been produced (attached) and the Profit and
Loss, as well as the Cashflow forecast have been produced based on the second most conservative
scenario. The worst case scenario is not considered viable and the purchase of the property would not
be pursued.
The interest rate applied to the loan is based on a secured lending interest rate of 6.50% over a term of
25 years that would require monthly repayments of £675.21, or £8,102.52 in a full year. Charity Bank
would allow us to make repayments of part or all of the loan without penalty at any time.
The provision for maintenance expenditure is based on professional recommendations. It is assumed
that capital repayments will be required on the loan at the onset.
The rent for the flat is set at a competitive market rate and the rent for the shop is set at 25% below
market rate to ensure that the shop and post office are viable.
A copy of the Profit and Loss forecast and Cashfow forecast are attached.
Westbury-sub-Mendip Shop Business Plan August 2013
Page 10
Profit and loss forecast
Westbury-sub-Mendip Village Shop project
Profit and Loss Projection Year 1
Year 1
Month 6
Month 7
£
£
Month 1
£
Month 2
£
Month 3
£
Month 4
£
Month 5
£
INCOME
Shop rent
Flat rent
Grants
450
475
0
450
475
0
450
475
0
450
475
0
450
475
0
450
475
0
TOTAL INCOME
925
925
925
925
925
542
542
542
542
167
33
10
10
167
33
10
10
167
33
10
10
TOTAL EXPENDITURE
762
762
Profit/(Loss)
163
163
EXPENDITURE
Loan repayments (6.5%
on £100,000)
Maintenance costs (1%
of property value)
Insurance
Printing & Stationery
Legal & Professional
Month 8
£
Month 9
£
Month 10 Month 11 Month 12
£
£
£
Year 1
Total
450
475
0
450
475
0
450
475
0
450
475
0
450
475
0
450
475
0
5400
5700
0
925
925
925
925
925
925
925
11100
542
542
542
542
542
542
542
542
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
2000
400
120
120
762
762
762
762
762
762
762
762
762
762
9140
163
163
163
163
163
163
163
163
163
163
1960
6500
Westbury-sub-Mendip Village Shop project
Profit and Loss Projection Year 2
Year 2
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Year
£
£
£
£
£
£
£
£
£
£
£
£
Total
INCOME
Shop rent
Flat rent
Grants
461
487
0
461
487
0
461
487
0
461
487
0
461
487
0
461
487
0
461
487
0
461
487
0
461
487
0
461
487
0
461
487
0
461
487
0
5535
5843
0
TOTAL INCOME
948
948
948
948
948
948
948
948
948
948
948
948
11378
533
533
533
533
533
533
533
533
533
533
533
533
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
2000
400
120
120
TOTAL EXPENDITURE
753
753
753
753
753
753
753
753
753
753
753
753
9036
Profit/(Loss)
195
195
195
195
195
195
195
195
195
195
195
195
2342
EXPENDITURE
Loan repayments
(6.5% on £100,000)
Maintenance costs (1%
of property value)
Insurance
Printing & Stationery
Legal & Professional
Note: Rent increased by 2.5%
Westbury-sub-Mendip Shop Business Plan August 2013
Page 11
6396
Westbury-sub-Mendip Village Shop project
Profit and Loss Projection Year 3
Year 3
Month 6
Month 7
£
£
Month 1
£
Month 2
£
Month 3
£
Month 4
£
Month 5
£
INCOME
Shop rent
Flat rent
Grants
473
499
0
473
499
0
473
499
0
473
499
0
473
499
0
473
499
0
TOTAL INCOME
972
972
972
972
972
524
524
524
524
167
33
10
10
167
33
10
10
167
33
10
10
TOTAL EXPENDITURE
744
744
Profit/(Loss)
228
228
EXPENDITURE
Loan repayments
Maintenance costs
(1% of property value)
Insurance
Printing & Stationery
Legal & Professional
Month 8
£
Month 9
£
Month 10 Month 11 Month 12
£
£
£
Year
Total
473
499
0
473
499
0
473
499
0
473
499
0
473
499
0
473
499
0
5673
5989
0
972
972
972
972
972
972
972
11662
524
524
524
524
524
524
524
524
6285
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
2000
400
120
120
744
744
744
744
744
744
744
744
744
744
8925
228
228
228
228
228
228
228
228
228
228
2737
Month 8
£
Month 9
£
Month 10
£
Month 11
£
Month 12
£
Year
Total
Note: Rent increased by 2.5%
Westbury-sub-Mendip Village Shop project
Profit and Loss Projection Year 4
Year 4
Month 6
Month 7
£
£
Month 1
£
Month 2
£
Month 3
£
Month 4
£
Month 5
£
INCOME
Shop rent
Flat rent
Grants
485
512
0
485
512
0
485
512
0
485
512
0
485
512
0
485
512
0
485
512
0
485
512
0
485
512
0
485
512
0
485
512
0
485
512
0
5815
6138
0
TOTAL INCOME
996
996
996
996
996
996
996
996
996
996
996
996
11953
514
514
514
514
514
514
514
514
514
514
514
514
Maintenance costs
(1% of property value)
Insurance
Printing & Stationery
Legal & Professional
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
2000
400
120
120
TOTAL EXPENDITURE
734
734
734
734
734
734
734
734
734
734
734
734
8807
Profit/(Loss)
262
262
262
262
262
262
262
262
262
262
262
262
3146
EXPENDITURE
Loan repayments
(6.5% on £100,000)
6167
Note: Rent increased by 2.5%
Westbury-sub-Mendip Village Shop project
Profit and Loss Projection Year 5
Year 5
Month 6
Month 7
£
£
Month 1
£
Month 2
£
Month 3
£
Month 4
£
Month 5
£
INCOME
Shop rent
Flat rent
Grants
497
524
0
497
524
0
497
524
0
497
524
0
497
524
0
497
524
0
TOTAL INCOME
1021
1021
1021
1021
1021
503
503
503
503
167
33
10
10
167
33
10
10
167
33
10
10
TOTAL EXPENDITURE
723
723
Profit/(Loss)
298
298
EXPENDITURE
Loan repayments
Maintenance costs (1%
of property value)
Insurance
Printing & Stationery
Legal & Professional
Month 8
£
Month 9
£
Month 10 Month 11 Month 12
£
£
£
497
524
0
497
524
0
497
524
0
497
524
0
497
524
0
497
524
0
5961
6292
0
1021
1021
1021
1021
1021
1021
1021
12252
503
503
503
503
503
503
503
503
6041
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
167
33
10
10
2000
400
120
120
723
723
723
723
723
723
723
723
723
723
8681
298
298
298
298
298
298
298
298
298
298
3571
Note: Rent increased by 2.5%
Westbury-sub-Mendip Shop Business Plan August 2013
Page 12
Year
Total
Cash flow forecast
CASH FLOW PROJECTION
WESTBURY-SUB-MENDIP VILLAGE SHOP PROJECT
CASH AVAILABLE:
DATE :
0.00
01-Aug-13
QUARTER ENDING:
BEGINNING CASH BALANCE
Income
Shop rent
Flat rent
Grants
Bank loan
Shares issued
Other income
TOTAL CASH RECEIVED
Expenditure
Property purchase
Refurbishment
Loan interest
Capital repayments
Maintenance
Insurance
Printing & Stationery
Conveyancing
Bank arrangement fee
Stamp duty
Phone & Internet Bill
Other expense
TOTAL CASH SPENT
Ending Cash Balance
31-Aug-13 30-Nov-13 28-Feb-14 31-May-14 31-Aug-14 30-Nov-14 28-Feb-15 31-May-15 31-Aug-15 30-Nov-15 28-Feb-16 31-May-16 31-Aug-16
0.00
1,700
100,900
11,480
11,569
11,658
11,748
11,860
12,234
12,608
12,982
13,379
14,067
0
0
2,000
0
0
0
0
0
0
0
100,000
0
2,000
100,000
800
900
1,350
1,350
1,350
1,361
1,488
1,488
1,488
1,500
1,641
1,641
950
1,425
1,425
1,425
1,437
1,571
1,571
1,571
1,583
1,732
1,732
18,000
100,000
0
0
20,000
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
119,850
22,775
2,775
2,775
2,798
3,059
3,059
3,059
3,083
3,373
3,373
185,000
18,000
20,000
1,083
1,625
1,625
1,625
1,608
1,599
1,599
1,599
1,581
1,571
1,571
267
401
401
401
418
427
427
427
445
454
454
334
501
501
501
501
501
501
501
501
501
501
66
99
99
99
99
99
99
99
99
99
99
20
30
30
30
30
30
30
30
30
30
30
1,850
30
30
30
30
30
30
30
30
30
30
1,650
1,000
300
300
800
209,270
22,686
2,686
2,686
2,686
2,686
2,686
2,686
2,686
2,686
2,686
1,700
100,900
11,480
11,569
11,658
11,748
11,860
12,234
12,608
12,982
13,379
14,067
14,754
Westbury-sub-Mendip Shop Business Plan August 2013
Page 13
Share Issue scenarios
WESTBURY-SUB-MENDIP VILLAGE SHOP CO CASH PROJECTIONS Year 1
Scenario 1
Scenario 2
Scenario 3
Scenario 4
Moore's asking price
185,000.00
185,000.00
185,000.00
185,000.00
refurbishment costs
25,000.00
25,000.00
25,000.00
25,000.00
570.00
570.00
570.00
570.00
4,000.00
4,000.00
4,000.00
4,000.00
214,570.00
214,570.00
214,570.00
214,570.00
2,000.00
2,000.00
2,000.00
2,000.00
Aster Efficiency Savings fund
30,000.00
30,000.00
30,000.00
30,000.00
Share issue
70,000.00
100,000.00
150,000.00
175,000.00
Total income
102,000.00
132,000.00
182,000.00
207,000.00
Shortfall
112,570.00
82,570.00
32,570.00
7,570.00
Repayment costs @ 6.5% over 25 years
9,121.01
6,690.25
2,638.99
613.36
Rent for shop @ £450 pm
5,400.00
5,400.00
5,400.00
5,400.00
Income from flat @ £475 pm
5,700.00
5,700.00
5,700.00
5,700.00
Profit/(Loss) per annum
1,978.99
4,409.75
8,461.01
10,486.64
company registration
legal costs (surveyor/valuation etc)
Total costs
Plunkett Foundation Grant
Westbury-sub-Mendip Shop Business Plan August 2013
Page 14