CASHFLOW STATEMENT
Month		1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20	21	22	23	24	25	26	27	28	29	30	31	32	33	34	35	36	37	38	39	40	41	42	43	44	45	46	47	48
Profit from ordinary activities		(2,550,149)	(1,605,688)	(1,612,650)	(1,417,677)	(1,591,165)	(2,612,215)	(2,562,220)	(2,335,915)	(2,339,313)	(2,362,911)	(2,366,073)	(827,561)	(725,327)	(670,837)	(613,006)	(551,659)	(486,615)	(417,682)	(343,339)	(262,897)	(175,921)	(81,945)	19,531	128,203	188,493	297,322	408,246	519,288	630,448	741,728	917,017	1,139,039	1,357,414	1,519,981	1,665,016	1,810,402	1,913,885	2,087,181	2,260,602	2,439,103	2,622,849	2,812,015	3,007,440	3,209,074	3,417,784	3,633,901	3,857,772	4,089,770
add back:
depreciation		178,889	185,000	185,556	186,111	186,667	187,222	187,778	187,778	187,778	187,778	187,778	187,778	187,778	187,778	187,778	187,778	187,778	187,778	187,778	187,778	187,778	187,778	187,778	187,778	193,333	193,333	193,333	193,333	193,333	193,333	216,944	216,944	216,944	216,944	216,944	216,944	38,056	31,944	31,389	30,833	30,278	29,722	29,167	29,167	29,167	29,167	29,167	29,167
interest		0	(11,887)	4,519	18,990	31,506	45,751	70,201	53,895	36,877	27,392	43,448	59,681	60,676	60,575	59,852	58,468	56,386	53,563	49,956	45,203	39,213	31,893	23,138	12,841	890	(8,726)	(20,439)	(32,268)	(44,216)	(56,284)	(68,472)	(103,782)	(147,945)	(188,050)	(209,926)	(232,272)	(255,091)	(280,492)	(307,922)	(336,667)	(366,773)	(398,293)	(431,278)	(466,022)	(502,611)	(541,139)	(581,705)	(624,413)
movement in debtors		0	0	0	0	0	0	(2,467,500)	0	352,500	1,459,350	(19,670)	(20,262)	(34,778)	(36,519)	(38,345)	(40,263)	(42,272)	(44,387)	(65,248)	(69,816)	(74,702)	(79,933)	(85,531)	(91,516)	0	0	0	0	0	0	(1,850,625)	0	264,375	1,094,513	(14,752)	(15,196)	(165,969)	(104,326)	(61,076)	(63,156)	(65,325)	(67,581)	(83,911)	(88,042)	(92,418)	(97,068)	(102,006)	(107,257)
movement in creditors		2,533,030	(2,144,853)	(76,230)	(76,230)	58,231	365,268	36,300	(12,705)	61,861	28,889	12,705	(546,464)	(33,805)	0	0	0	0	0	0	0	0	0	0	304	73,315	(72,600)	0	0	0	0	308,550	(308,550)	0	0	0	304	750	0	0	0	0	0	0	0	0	0	0	0
deferred expense		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	0	0	0	0	0	0	0	0	0
deferred income		0	0	0	0	0	0	4,025,000	3,850,000	3,100,000	569,500	555,085	540,241	547,639	555,410	563,570	572,139	581,129	590,572	630,895	674,042	720,208	769,608	822,471	879,031	779,819	680,607	581,395	482,183	382,971	283,759	3,378,297	3,322,835	2,811,123	860,536	798,407	737,394	923,712	1,000,296	1,001,650	1,004,921	1,010,250	1,017,774	1,051,769	1,091,504	1,137,431	1,190,057	1,249,920	1,317,604
		161,770	(3,577,428)	(1,498,805)	(1,288,805)	(1,314,761)	(2,013,973)	(710,441)	1,743,054	1,399,703	(90,003)	(1,586,726)	(606,588)	2,183	96,407	159,849	226,463	296,406	369,843	460,042	574,310	696,576	827,401	967,387	1,116,640	1,235,850	1,089,936	1,162,536	1,162,536	1,162,536	1,162,536	2,901,711	4,266,486	4,501,911	3,503,923	2,455,690	2,517,577	2,455,343	2,734,603	2,924,643	3,075,035	3,231,278	3,393,636	3,573,187	3,775,681	3,989,352	4,214,916	4,453,147	4,704,871
Financing costs
Interest paid		0	11,887	(4,519)	(18,990)	(31,506)	(45,751)	(70,201)	(53,895)	(36,877)	(27,392)	(43,448)	(59,681)	(60,676)	(60,575)	(59,852)	(58,468)	(56,386)	(53,563)	(49,956)	(45,203)	(39,213)	(31,893)	(23,138)	(12,841)	(890)	8,726	20,439	32,268	44,216	56,284	68,472	103,782	147,945	188,050	209,926	232,272	255,091	280,492	307,922	336,667	366,773	398,293	431,278	466,022	502,611	541,139	581,705	624,413
		0	11,887	(4,519)	(18,990)	(31,506)	(45,751)	(70,201)	(53,895)	(36,877)	(27,392)	(43,448)	(59,681)	(60,676)	(60,575)	(59,852)	(58,468)	(56,386)	(53,563)	(49,956)	(45,203)	(39,213)	(31,893)	(23,138)	(12,841)	(890)	8,726	20,439	32,268	44,216	56,284	68,472	103,782	147,945	188,050	209,926	232,272	255,091	280,492	307,922	336,667	366,773	398,293	431,278	466,022	502,611	541,139	581,705	624,413
Taxation
VAT		(1,465,389)	(224,565)	(180,465)	1,734,055	(170,053)	(381,365)	1,020,418	339,985	199,197	(1,124,032)	(253,706)	68,466	535,837	109,259	120,681	(195,648)	145,266	158,488	(258,505)	198,719	220,971	(352,833)	270,258	297,342	(557,452)	296,929	296,929	(551,857)	296,929	296,929	(221,107)	848,179	769,429	(1,843,882)	447,798	452,149	501,152	532,228	550,421	569,233	588,692	608,822	633,817	660,042	687,571	716,485	746,870	778,819
Corporation tax/paye		104,883	0	0	0	0	0	0	0	0	0	0	0	9,543	0	0	0	0	0	0	0	0	0	0	0	9,543	0	0	0	0	0	0	0	0	0	0	0	195,599	186,056	186,056	186,056	186,056	186,056	186,056	186,056	186,056	186,056	186,056	186,056
		(1,360,506)	(224,565)	(180,465)	1,734,055	(170,053)	(381,365)	1,020,418	339,985	199,197	(1,124,032)	(253,706)	68,466	545,380	109,259	120,681	(195,648)	145,266	158,488	(258,505)	198,719	220,971	(352,833)	270,258	297,342	(547,909)	296,929	296,929	(551,857)	296,929	296,929	(221,107)	848,179	769,429	(1,843,882)	447,798	452,149	696,751	718,284	736,477	755,289	774,748	794,878	819,873	846,098	873,627	902,541	932,926	964,875
Capital expenditure
Computer costs		(4,770,000)	(220,000)	(20,000)	(20,000)	(20,000)	(20,000)	(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	(850,000)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Office equipment		(420,000)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(200,000)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Software licenses		(1,250,000)	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	0	0	0	0	0	0	0	0
		(6,440,000)	(220,000)	(20,000)	(20,000)	(20,000)	(20,000)	(20,000)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(200,000)	0	0	0	0	0	(850,000)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Financing
Share capital/Long term debt		10,000,000
		10,000,000	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	0	0	0	0	0	0	0	0
Net cash flow		2,361,264	(4,010,106)	(1,703,790)	406,259	(1,536,320)	(2,461,089)	219,776	2,029,143	1,562,023	(1,241,427)	(1,883,881)	(597,803)	486,887	145,091	220,678	(27,653)	385,286	474,768	151,581	727,826	878,333	442,675	1,214,507	1,401,142	487,051	1,395,590	1,479,903	642,947	1,503,681	1,515,748	1,899,075	5,218,446	5,419,285	1,848,091	3,113,414	3,201,997	3,407,185	3,733,379	3,969,042	4,166,991	4,372,799	4,586,808	4,824,338	5,087,801	5,365,591	5,658,597	5,967,778	6,294,159
Cumulative		2,361,264	(1,648,842)	(3,352,632)	(2,946,374)	(4,482,694)	(6,943,783)	(6,724,007)	(4,694,864)	(3,132,840)	(4,374,267)	(6,258,148)	(6,855,951)	486,887	631,978	852,657	825,004	1,210,290	1,685,058	1,836,639	2,564,465	3,442,799	3,885,474	5,099,981	6,501,123	487,051	1,882,641	3,362,544	4,005,490	5,509,171	7,024,919	8,923,994	14,142,441	19,561,726	21,409,816	24,523,230	27,725,228	31,132,412	34,865,791	38,834,833	43,001,824	47,374,623	51,961,431	56,785,769	61,873,570	67,239,160	72,897,757	78,865,536	85,159,694
Cash balance c/f	0	2,361,264	(1,648,842)	(3,352,632)	(2,946,374)	(4,482,694)	(6,943,783)	(6,724,007)	(4,694,864)	(3,132,840)	(4,374,267)	(6,258,148)	(6,855,951)	(6,369,063)	(6,223,972)	(6,003,294)	(6,030,947)	(5,645,660)	(5,170,893)	(5,019,311)	(4,291,485)	(3,413,152)	(2,970,476)	(1,755,970)	(354,828)	132,222	1,527,813	3,007,716	3,650,662	5,154,343	6,670,091	8,569,166	13,787,613	19,206,897	21,054,988	24,168,402	27,370,400	30,777,584	34,510,963	38,480,005	42,646,996	47,019,795	51,606,603	56,430,941	61,518,741	66,884,332	72,542,929	78,510,707	84,804,866
Check		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	0	0	0	0	0	0	0	0	0