ACCOUNTING ANALYSIS

Business Report

Section - B

Company Description

British Spicy Inc. is a Manchester based company and it will operate food business, a medium size and a single unit restaurant serving contemporary and healthy style food. The location of this restaurant will be at 645 527 The Met 40 Hilton Street - Manchester

Mission Statement The goal of the company is towards the success of multi-faceted. The primary responsibility of this business is the well being of the restaurant in terms of financial. We will meet this objective during the consideration of; the impact that the practices of our businesses as well as choices will be on environment, our products' effects on the well being and health of our customers and the high quality of understanding, attitude, fairness and generosity between the staff, vendors, customers and management. It is necessary to have awareness regarding all these factors and the actions that outcomes will provide our endeavor a purpose's sense and the meaning apart our basic goals of financial terms (William 2007, p.349-366).

Development & Status The Company was incorporated in the year of 1996. The founders of this company are Wilma Mason and Jack Morton. Will is the Vice President while Jack is the President. This company has a total 10,000 shares that are issues as common stock. Jack and Wilma each own 3,500 and the remaining shares are retained by the company for the purpose of future distribution. Furthermore, they have loaned the company of £ 28,000 of their own personal money in order to do start-up and the research costs (Celsi et al. 2011).

In the last month, a suitable site regarding the first restaurant was found and negotiations with lease were taken place in the final settlement. The location of the restaurant will be on Hilton Street, just near to “The Met 40” and closely to a larger market with the targeted population. For the construction purpose, there will be 3 months of free rent along signing up the lease forms and that time the start up business funds will be raised through borrowing from a bank and investing our own capital. The total investment will be £50,000 will be required in which £20,000 will be invested from the borrowing funds and £30,000 will be invested by our own capital. The repayment of borrowing funds will be based on 3 years i.e. £6,667 will be repaid to the bank on each year.

Future Plans 

If the business meets its specific projections by the month of 8th, we will begin scouting for the other location and take initiative to develop plans for the next branch. In the greater area of Manchester, the five year objective/goal of a restaurant is to have 3 restaurants with the yearly profit of between £150,000 and £350,000.

Products & Related Services

British Spicy Restaurant will be providing and offering a food menu as well as the beverages with a different image in the market. There will be three ways to buying the products in this restaurant; take out from the restaurant, table service ...