Premier Quality Kenya Dairy Business Plan — Appendix C: Funding and Debt Schedules
Drawdown, interest and amortisation schedules for the KES 10m term loan at 15.5% with a three-year principal grace period.
Appendix C: Funding and Debt Schedules
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- Overview & contents
- i. Important Notice and Basis of Preparation
- 1. Executive Summary
- 2. Market and Opportunity
- 3. Why the Fodder Block Is the Business
- 4. The Production Model
- 5. SWOT and Competitive Position
- 6. Housing, Water and Equipment
- 7. Regulatory and Compliance Framework
- 8. Management and Organisation
- 9. Financial Plan
- 10. Break-Even and Debt Service
- 11. Investment Analysis
- 12. Sensitivity and Scenario Analysis
- 13. Risk Analysis
- 14. Implementation Roadmap
- 15. Key Performance Indicators
- 16. Key Assumptions
- 17. Conclusion and Recommendation
- A. Appendix A: Consolidated Financial Summary
- B. Appendix B: Capital and Herd Schedules
- C. Appendix C: Funding and Debt Schedules
- D. Appendix D: Risk Register
- E. Appendix E: Glossary
- C.1 Debt service schedule
- C.2 Opening balance sheet at day zero
- C.3 Working capital
C.1 Debt service schedule
|
KES |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Opening balance |
10 000 000 |
10 000 000 |
10 000 000 |
10 000 000 |
9 110 239 |
|
Interest at 15.5% |
1 550 000 |
1 550 000 |
1 550 000 |
1 550 000 |
1 412 087 |
|
Capital repaid |
— (grace period) |
— (grace period) |
— (grace period) |
889 761 |
1 027 674 |
|
Total debt service |
1 550 000 |
1 550 000 |
1 550 000 |
2 439 761 |
2 439 761 |
|
Closing balance |
10 000 000 |
10 000 000 |
10 000 000 |
9 110 239 |
8 082 565 |
|
of which current portion |
0 |
0 |
889 761 |
1 027 674 |
1 186 963 |
|
of which non-current portion |
10 000 000 |
10 000 000 |
9 110 239 |
8 082 565 |
6 895 602 |
|
EBITDA |
(1 645 000) |
(740 000) |
1 802 000 |
3 687 000 |
5 233 000 |
|
Debt service cover |
-1.06x |
-0.48x |
1.16x |
1.51x |
2.14x |
|
Cover without the three-year grace |
-0.81x |
-0.36x |
0.89x |
1.82x |
2.58x |
|
Gearing |
42.7% |
49.1% |
50.3% |
44.7% |
36.0% |
C.2 Opening balance sheet at day zero
|
KES |
Note |
|
|---|---|---|
|
Biological assets — 20 in-calf heifers |
4 000 000 |
Carried at cost; not depreciated |
|
Property, plant and equipment |
8 900 000 |
Fixed capital expenditure as drawn |
|
Cash |
14 445 000 |
Working capital, contingency and the funds reserved for the Years 2 to 4 heifer purchases |
|
Total assets |
27 345 000 |
|
|
Share capital |
17 345 000 |
Promoter equity |
|
Term debt |
10 000 000 |
Ten years at 15.5% with a three-year principal grace |
|
Total equity and liabilities |
27 345 000 |
C.3 Working capital
|
KES |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Feed and forage inventory at 60 days |
522 082 |
935 671 |
1 280 548 |
1 604 877 |
1 920 329 |
|
Trade receivables at 21 days |
251 310 |
486 855 |
792 074 |
1 041 830 |
1 263 912 |
|
Trade payables at 30 days |
(494 219) |
(756 329) |
(983 425) |
(1 185 288) |
(1 375 479) |
|
Net working capital |
279 173 |
666 197 |
1 089 197 |
1 461 419 |
1 808 762 |
|
Movement in the year |
(279 173) |
(387 024) |
(423 000) |
(372 222) |
(347 343) |