Two Seasons Garlic Business Plan — Projected Balance Sheet
The balance sheet across the projection, including biological assets, plant and the net cash position at FY2031.
Projected Balance Sheet
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- Overview & contents
- 1. Executive Summary
- 2. Investment Thesis
- 3. Company and Business Overview
- 4. Problem, Customer Need and Value Proposition
- 5. Products and Services
- 6. Industry Analysis
- 7. Market Analysis
- 8. Customer Analysis
- 9. Market and Competitive Landscape
- 10. Business Model
- 11. Go-to-Market Strategy
- 12. Operating Model
- 13. Management and Organisation
- 14. Strategic Plan
- 15. SWOT Analysis and Strategic Implications
- 16. Risk Analysis
- 17. ESG and Sustainability
- 18. Implementation Roadmap
- 19. Financial Model and Revenue Build
- 20. Projected Income Statement
- 21. Projected Balance Sheet
- 22. Projected Cash Flow
- 23. Capital Expenditure and Working Capital
- 24. Funding Requirement and Structure
- 25. Break-Even Analysis
- 26. Investment Case and Returns
- 27. Debt Serviceability
- 28. Sensitivity and Scenario Analysis
- 29. Key Performance Indicators and Management Dashboard
- 30. Conclusion
- A. Appendix A: Assumption Register
- B. Appendix B: Conditions Precedent to the Seed Subscription
- C. Appendix C: Glossary
The balance sheet balances in every period; net debt is negative by FY2031 and equity is rebuilt to R41m after the early losses.
|
R million |
FY2027 |
FY2028 |
FY2029 |
FY2030 |
FY2031 |
|---|---|---|---|---|---|
|
Cash |
10.62 |
11.96 |
7.59 |
4.13 |
9.26 |
|
Accounts receivable |
0.25 |
0.91 |
2.05 |
3.51 |
5.06 |
|
Inventory (cured garlic and seed bank) |
0.52 |
1.00 |
2.03 |
3.42 |
4.77 |
|
Total current assets |
11.39 |
13.87 |
11.67 |
11.06 |
19.09 |
|
Property, plant and equipment (net) |
5.73 |
14.52 |
24.87 |
28.74 |
29.83 |
|
Total assets |
17.12 |
28.39 |
36.54 |
39.80 |
48.93 |
|
Accounts payable and accruals |
0.63 |
0.97 |
1.55 |
2.20 |
2.86 |
|
Term debt — current portion |
0.00 |
2.80 |
2.80 |
2.80 |
2.80 |
|
Term debt — non-current |
14.00 |
11.20 |
8.40 |
5.60 |
2.80 |
|
Total liabilities |
14.63 |
14.97 |
12.75 |
10.60 |
8.46 |
|
Share capital and premium |
9.00 |
24.00 |
35.00 |
35.00 |
35.00 |
|
Retained earnings / (accumulated losses) |
(6.51) |
(10.58) |
(11.21) |
(5.81) |
5.47 |
|
Total equity |
2.49 |
13.42 |
23.79 |
29.19 |
40.47 |
|
Total liabilities and equity |
17.12 |
28.39 |
36.54 |
39.80 |
48.93 |
|
Check (assets less liabilities and equity) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Table 39. Projected balance sheet at 30 June (R million).
Inventory comprises cured garlic awaiting sale and the seed bank carried at cost. Land is leased and does not appear on the balance sheet; lease commitments are disclosed at Appendix A. No intangible assets are capitalised; cultivar and seed-selection data are expensed through agronomy.