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SIMPLY COOL SC

Annual Report
The Simply Cool SC 2012-2013 year in review




Victor Bonjean (61483), Markus Brggemann (60783), Cezara Ghebosu (61499),
Rogier Gout (61746 ), Nikola Ledwoov (61508), Denise Montauban (61017), Hugo
Pelerin (62139), VtSochor (61805), Jimmy Touw(49109), Maximilian Wilde (65032)



Supervisors: Bart Beerman, Vera Hartog, Frank de Jong



Get an overview of our companys financial performance. Review detailed financial information
and learn about the scale of our organization, our operating groups and the development of our
business.
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Contents
1.Letter to shareholders ........................................................................................................................... 3
2.Financials ............................................................................................................................................. 6
2.1Balance Sheet ................................................................................................................................. 6
2.2 Profit and Loss Account ................................................................................................................ 7
2.3 Liquidity Budget ............................................................................................................................ 8







1.Letter to shareholders



Dear shareholders,
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It is with great dissatisfaction that the Simply Cool student company is looking at its final results,
which will end the entire entity of the company.
We were only able to sell 148 of the 300 ordered Products. The company has not reached its break-
even point and therefore failed in achieving its ambitions. This can be explained through various
reasons. First of all, the estimated demand, for our product predicted form the survey we launched in
the beginning of the project did not meet the actual demand. Regardless our consecutive attendance on
markets and other sales occasions, it has been rather difficult to sell our products. The first market was
the weekly market located in Middelburg. Our expectations for this market were rather low due to the
competition. Numerous Student Companies form the HZ and surroundings were present and also
trying to sell their products. We surprisingly sold more than expected. Nevertheless, it was not
spectacular either. The second attend for selling was during the open days at the University of Applied
Sciences in Vlissingen. This event was a total fail for the company. The target group was inappropriate
because it did not come to buy anything but to obtain information about the school and its study
programs. A third attempt was made during queens day. We divided the group to different selling
points. One was located in Goes, the other in Vlissingen. Our enthusiasm was high due to the large
amount of people that would go out to celebrate the day. However this times, our product was
inappropriate, especially its price. A lot of other persons were selling unutilized things for a very
cheap price. Furthermore a great difficulty at the various markets was the language barrier. As only a
part of the group was sufficiently fluent in Dutch and customers seemed to avoid English speaking
companies. Although we decided to drop the price to attract customers, the companys sales peaked.
However, we were not meeting the required numbers of sales. Furthermore, we negotiated with other
Student Companies, and offered them, to take their products to the various markets for a share of the
profit, we were also not able, to sell their products. Additionally the company has taken the
opportunity to participate to lunch sales in the Atrium of the HZ during the course of the semester as
well as the exposure of product in the bookshop at school. But those two others opportunities did not
work out either. Furthermore, a draw back and lack of interest by potential customers can be explained
due to the bad weather conditions in the past period. As our products is mainly supposed, to keep
beverages cold however cold weather conditions were not supporting the demand for the product.
Another problem can be indentified internally, by a lack of communication, trust and effort put into
the project between the different departments and members. As indicated in the half-year report,
position rotation occurred at the end of the first semester, to give other members of the group,
challenge and opportunities to step up. Nevertheless, the interaction with members according to their
new functions was ineffective or members were unable to cope with the given task.
Nevertheless, the company is looking now at the positive side. The student company project had
enabled each member to acquire great knowledge and skills in the business field as well as human
resource with teamwork, communication, conflicts and liabilities. All members grew stronger from
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this experience, which will be undoubtedly useful for the professional path in the future. In addition,
our company is very delighted for the great support from our shareholders. Your support had been
much appreciated and we hope to obtain it once again for further occasions.
Sincerely,
Hugo Pelerin
General Manager

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2.Financials
The business capital contribution was composed through the sale of shared of the company. A total of
62 shares were sold for 20 each, giving a total equity of 1.240.
2.1Balance Sheet

The balance sheet shows, that there is a difference of 130 between opening and closing


Balance Sheet
Fixed assets Opening Closing Equity capital Opening Closing
Building 0,00 0,00 Savings 0,00 0,00
Inventory 0,00 0,00 Business capital contribution 1.240,00 1.240,00
Means of transportation 0,00 0,00 Subordinated loan 0,00 0,00
Machinery 0,00 0,00 Profit 0,00 -156,00

Liabilities
Creditors 0,00 0,00

Current assets Taxes payable
Stock 531,00 0,00 Corporate income tax (23%) 0,00 0,00
Liquid assets 598,00 1.092,89 Income tax (42%) 25,20
VAT receivable 111,00 16,31 VAT payable 0,00
Advertising costs 0,00 0,00
Bank costs 0,00
Total 1.240,00 1.109,20 1.240,00 1.109,20
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2.2 Profit and Loss Account
Profit and Loss Account Euro

Gross profit
Total revenue 482,03
Buying expenses 531,00
Gross profit (A) -48,97

Fixed costs
Labour costs 60,00

Administration costs 0,00
Transportation costs 0,00
Advertising costs 47,03
Other costs 0,00
Total fixed costs (B) 107,03

Operating income (A-B) -156,00
Taxes 0,00
Net profit -156,00

After finalizing the sales, with 150 products left, which are booked as expenses, Simply Cool closes
off with a loss of 156, which means a loss of 12% for each share.

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2.3 Liquidity Budget

Months: December January February March April May June
Liquid assets at start-up (A) 0,00 625,93 647,28 659,15 782,84 837,70 1.067,99

Receipts
Revenues (without VAT) 23,10 33,00 42,90 102,30 45,37 186,16 49,20
21% VAT on sales 4,83 6,90 8,97 21,39 9,49 39,13 10,50
Other receipts 1.240,00 0,00 0,00 0,00 0,00 0,00 0,00
Total receipts (B) 1.267,93 39,90 51,87 123,69 54,86 225,29 59,70

Payments
Purchasing from suppliers 531,00 0,00 0,00 0,00 0,00 0,00 0,00
VAT paid 111,00 3,05 3,47 0,00 0,00 0,00 0,00
Labour costs (all) 0,00 0,00 0,00 0,00 0,00 0,00 34,80
VAT payments (sal. purch.) 0,00 0,00 0,00 0,00 0,00 0,00 -16,31
Income tax (42%) 0,00 0,00 0,00 0,00 0,00 0,00 25,20
Corporate income tax (23%) 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Advertisement costs 0,00 15,50 36,53 0,00 0,00 -5,00 0,00
Bank costs 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Total payments (C) 642,00 18,55 40,00 0,00 0,00 -5,00 43,69

Liquid assets
End of period = A + B - C 625,93 647,28 659,15 782,84 837,70 1.067,99 1.084,00

The liquidity budget shows the different receipts compared with the expenditures during the period of
sales between December and June. Furthermore the difference is seen as the liquid assets at the end of
June are 1.084 compared with the initial investment of 1.240 resulting in a difference of 156.
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