Management Report
ACR company
31 December 2020
Prepared by Ailyn Ruaya
Contents

Executive Summary 3
Cash Summary 5
Profit and Loss 7
Balance Sheet 8
Aged Receivables 10
Aged Payables 11

Management Report  |  ACR company  |  31 December 2020   Page 2 of 11

Executive Summary

ACR company 
For the month of December 2020 
Dec 2020 Nov 2020 Variance

Cash 
Cash received 1,043,662 4,057 25623.5%
Cash spent 128,723 6,192 1978.8%
Foreign currency gain (loss) (915,473) (63,845) -1333.9%
Cash surplus (deficit) (534) (65,980) 99.2%
Closing bank balance (1,314) 1
(780) 2 -68.4%

Profitability 
Income 933,459 13,490 6819.8%
Direct costs 14,019 - 0.0%
Gross profit (loss) 919,440 13,490 6715.9%
Other Income - - 0.0%
Expenses 834,654 69,761 1096.5%
Profit (loss) 84,786 (56,271) 250.7%

Balance Sheet 
Debtors 168,166 1 42,496 295.7%
Creditors 15,172 1 4,919 208.5%
Net assets 176,560 1
95,774 2 84.4%

Income 
Number of invoices issued 15.0 15.0 0.0%
Average value of invoices 71,476 899 7847.9%

Performance 
Gross profit margin 98.5% 100.0% -1.5%
Net profit margin 9.1% -417.1% 102.2%
Return on investment (p.a.) 576.3% -705.0% 181.7%

Position 
Average debtors days 5.6 94.5 -94.1%
Average creditors days 0.6 2.1 -73.8%
Short term cash forecast 152,993 37,577 307.1%
Current assets to liabilities 1.6 7.7 -79.5%
Term assets to liabilities 0.0%

Notes

Management Report  |  ACR company  |  31 December 2020   Page 3 of 11

Executive Summary

1
Figures converted into United States Dollar using the following rate:
48.0200 PHP Philippine Peso per USD. Rate provided by XE.com on 31 Dec 2020.

2
Figures converted into United States Dollar using the following rate:
48.1151 PHP Philippine Peso per USD. Rate provided by XE.com on 30 Nov 2020.

Management Report  |  ACR company  |  31 December 2020   Page 4 of 11

Cash Summary

ACR company 
For the month ended 31 December 2020 
Excluding Tax 
Dec 2020 Monthly Avg Variance

Income 
Fees Earned 39,242 3,270 1100.0%
Sales 16,549 1,691 878.4%
Sales Account 854,250 71,188 1100.0%
Accounts Receivable 900 75 1100.0%
Total Income 910,941 76,224 1095.1%

Less Operating Expenses 

Advertising 9,657 805 1100.0%
Advertising Expense 8,590 716 1100.0%
Bank Fees (2,886) (239) -1106.3%
Cleaning - 9 -100.0%
Consulting & Accounting 29 5 500.0%
Cost of Good Sold 14,019 1,168 1100.0%
Depreciation Expense - Office Equipment 4,511 376 1100.0%
Depreciation Expense - Vehicle 4,241 353 1100.0%
Driver Salaries Expense 13,300 1,108 1100.0%
Entertainment 1,522 129 1075.6%
Fuel Expense 820 68 1100.0%
General Expenses - 4 -100.0%
Light, Power, Heating 126 20 539.5%
Maintenance Supplies Expense 4,400 970 353.6%
Miscellaneous Administrative Expense 4,680 390 1100.0%
Motor Vehicle Expenses 137 23 500.0%
Office Expenses 73 55 31.9%
Office Salaries Expense 21,200 2,074 922.1%
Printing & Stationery 73 6 1100.0%
Rent 2,182 273 700.0%
Rent Expense 2,500 208 1100.0%
Repairs and Maintenance 64 145 -55.9%
Telephone & Internet 43 7 512.4%
Travel - National - 3 -100.0%
Maintenance Supplies 2,368 197 1100.0%
Merchandise Inventory 1,575 131 1100.0%
Office Supplies 600 50 1100.0%
Historical Adjustment (29,195) - 0.0%
Total Operating Expenses 64,630 9,056 613.7%
Operating Surplus (Deficit) 846,312 67,168 1160.0%

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Cash Summary

Dec 2020 Monthly Avg Variance

Plus Non Operating Movements 
Accumulated Depreciated Office Equipment - 354 -100.0%
Accumulated Depreciated Vehicles - 1,483 -100.0%
Computer Equipment - (150) 100.0%
Office Equipment 2,017 (1,274) 258.4%
Vehicles (48,277) (9,223) -423.4%
Total Non Operating Movements (46,260) (8,810) -425.1%

Plus Movements in Equity 

Ruaya, Capital - 13,581 -100.0%
Ruaya, Drawing (4,000) (333) -1100.0%
Total Movements in Equity (4,000) 13,248 -130.2%

Tax Movements 
Tax Inputs (7,135)
Tax Outputs 104,998
Net Tax Movements 97,863 0.0%

Foreign Currency Gains and Losses 

Bank Revaluations (915,473) (81,610) -1021.8%
Realised Currency Gains 21,023 1,752 1100.0%
Total Foreign Currency Gains and Losses (894,449) (79,858) -1020.1%

Net Cash Movement (534) (8,251) 93.5%

Summary 
Opening Balance (780) 1
Plus Net Cash Movement (534)
Closing Balance (1,314)

Notes

1
Figures converted into United States Dollar using the following rate:
48.1151 PHP Philippine Peso per USD. Rate provided by XE.com on 30 Nov 2020.

Management Report  |  ACR company  |  31 December 2020   Page 6 of 11

Profit and Loss

ACR company 
For the month ended 31 December 2020 
Dec-20 Nov-20 Oct-20 Sep-20 YTD

Income 
Fees Earned 71,143 - - - 71,143
Sales 8,066 13,490 - - 21,556
Sales Account 854,250 - - - 854,250
Total Income 933,459 13,490 - - 946,949

Less Cost of Sales 

Cost of Good Sold 14,019 - - - 14,019
Total Cost of Sales 14,019 - - - 14,019

Gross Profit 919,440 13,490 - - 932,930

Less Operating Expenses 

Advertising 7,809 1,848 - - 9,657
Advertising Expense 8,590 - - - 8,590
Bank Fees (2,886) 15 - - (2,871)
Cleaning - 110 - - 110
Consulting & Accounting 29 29 - - 58
Depreciation Expense - Office Equipment 4,511 - - - 4,511
Depreciation Expense - Vehicle 4,241 - - - 4,241
Driver Salaries Expense 13,300 - - - 13,300
Entertainment 1,522 32 - - 1,554
Foreign Currency Gains and Losses 920,684 63,845 - - 984,529
Fuel Expense 820 - - - 820
General Expenses 120 46 - - 166
Light, Power, Heating 126 110 - - 236
Maintenance Supplies Expense (162,600) - 7,240 - (155,360)
Miscellaneous Administrative Expense 11,680 - - - 11,680
Motor Vehicle Expenses 517 137 - - 654
Office Expenses 128 592 - - 720
Office Salaries Expense 21,200 - 3,690 - 24,890
Printing & Stationery 73 - - - 73
Rent 2,182 1,091 - - 3,274
Rent Expense 2,500 - - - 2,500
Repairs and Maintenance 64 1,833 - - 1,897
Telephone & Internet 43 42 - - 85
Travel - National - 32 - - 32
Total Operating Expenses 834,654 69,761 10,930 - 915,345

Net Profit 84,786 (56,271) (10,930) - 17,585

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Balance Sheet

ACR company 
As at 31 December 2020 
31 Dec 2020 31 Dec 2019

Assets 
Bank 
Business Bank Account 2,737 -
Cash (4,051) 1 -
Total Bank (1,314) -

Current Assets 
Accounts Receivable 168,166 1 31,950
Maintenance Supplies 7,438 -
Merchandise Inventory 1,575 -
Office Supplies 3,626 -
Total Current Assets 180,805 31,950

Fixed Assets 
Accumulated Depreciated Office Equipment (4,250) -
Accumulated Depreciated Vehicles (17,800) -
Computer Equipment 3,774 -
Office Equipment 15,283 -
Vehicles 113,559 -
Total Fixed Assets 110,566 -
Total Assets 290,057 31,950

Liabilities 
Current Liabilities 
Accounts Payable 15,172 1 2,755
Accrued expenses (710) -
Historical Adjustment - 29,195
Sales Tax 99,035 -
Total Current Liabilities 113,497 31,950
Total Liabilities 113,497 31,950

Net Assets 176,560 -

Equity 
Current Year Earnings 17,585 -
Ruaya, Capital 162,975 -
Ruaya, Drawing (4,000) -
Total Equity 176,560 -

Management Report  |  ACR company  |  31 December 2020   Page 8 of 11

Balance Sheet

Notes

1
Figures converted into United States Dollar using the following rate:
48.0200 PHP Philippine Peso per USD. Rate provided by XE.com on 31 Dec 2020.

Management Report  |  ACR company  |  31 December 2020   Page 9 of 11

Aged Receivables

ACR company 
December 2020 
Current November October September Older Total

Receivables 
Chavez Co. (900) - - - - (900)
City Limousines 704 388 - - - 1,092
DIISR - Small Business Services - 271 - - - 271
Ellis Co 17 1 - - - - 17
Jarvis Co. 150 1 - - - - 150
Maintenance Department 167,000 - - - - 167,000
Sajeev Co. 192 1 - - - - 192
Trent Co. 230 1 - - - - 230
Various Company 115 1 - - - - 115
Total Receivables 167,507 659 - - - 168,166
99.6% 0.4% 0.0% 0.0% 0.0%

Notes

1
Figures converted into United States Dollar using the following rate:
48.0200 PHP Philippine Peso per USD. Rate provided by XE.com on 31 Dec 2020.

Management Report  |  ACR company  |  31 December 2020   Page 10 of 11

Aged Payables

ACR company 
December 2020 
Current November October September Older Total

Payables 
Bastille Co. 51 1 - - - - 51
Bayside Club 130 - - - - 130
Central Copiers - 164 - - - 164
Gateway Motors 411 - - - - 411
Master Supply Co. 4,140 - - - - 4,140
McIntyre Sales Co. 67 1 - - - - 67
Office City 990 - - - - 990
Office Staffs 15 1 - - - - 15
PC Complete 2,133 - - - - 2,133
Surneco 7,000 - - - - 7,000
Swanston Security 60 - - - - 60
Various Company 12 1 - - - - 12
Total Payables 15,009 164 - - - 15,172
 
Current November October September Older Total
Total Expense Claims - - - - - -

Total 15,009 164 - - - 15,172

98.9% 1.1% 0.0% 0.0% 0.0%

Notes

1
Figures converted into United States Dollar using the following rate:
48.0200 PHP Philippine Peso per USD. Rate provided by XE.com on 31 Dec 2020.

Management Report  |  ACR company  |  31 December 2020   Page 11 of 11