5.2.2 Budgeting Group CourseworkScenarioYour team of five students (in seminar) are planning to startup your own business venture, making and marketing asingle product using at least two types of both materials &labour; however as you only have £100,000 in cashpersonally to use towards this, you will need to prepare asummary business plan and supporting budgets in order toraise the additional finance required to meet your budgetedoperations. You may assume that you can apply for thefunds needed from a bank at their prevailing market interestrate.Your team must initially submit a proposal via email by 24thMarch 2021 with the names of members of your group.A major task involves drawing up the following budgetsforone year to resource your proposed activities and to persuadepotential lenders to contribute finance to your businessventure:2. Table of Assumptions• Any and all assumptions made in estimating figuresmust be researched, referenced, reasonable &clearly stated in this tableBudgeted Contribution Statement, Total contribution &C/S ratioCapital Expenditure (Fixed Assets) BudgetSales BudgetProduction BudgetPurchasesDirect Labour BudgetOverheads BudgetCash BudgetIt is Imperative that budgets 4 – 9 include a total column for the 12- monthsBudgeted (Annual) Income StatementBudgeted (Annual) Balance SheetCalculations showing the Break-Even Point in units, £ ofsales & percentageCalculations showing the Margin of Safety in units, £ ofsales & percentageYou must use spreadsheets in Appendices withformulae correctly applied for each of the budgets 2 13 above
