Management Report
Long for Success -- Event Planning
For the period ended December 31, 2024
Prepared on
September 30, 2024
For management use only
Table of Contents
Profit and Loss ................................................................................................................................................3
Balance Sheet .................................................................................................................................................4
2/4
Profit and Loss
January - December 2024
Total
INCOME
Billable Expenses Income 22,631.00
Markup 3,947.55
Sales 13,750.00
Sales of Product Income 19,050.00
Services 3,600.00
Total Income 62,978.55
COST OF GOODS SOLD
Cost of Goods Sold 9,664.68
Cost of Sales - billable expenses 35,018.50
Total Cost of Goods Sold 44,683.18
GROSS PROFIT 18,295.37
EXPENSES
Insurance Expense-General Liability Insurance 2,250.00
Interest expense 1,045.00
Janitorial Expense 417.52
Rent Expense 12,500.00
Utilities - Electric & Gas 2,237.23
Utilities - Water 618.84
Depreciation Expense 333.30
Total Expenses 19,401.89
OTHER EXPENSES
Exchange Gain or Loss 18.36
Total Other Expenses 18.36
PROFIT $ -1,124.88
Long for Success -- Event Planning 3/4
Balance Sheet
As of December 31, 2024
Total
ASSETS
Current Assets
Cash and Cash Equivalent
Chequing 21,095.57
Total Cash and Cash Equivalent 21,095.57
Accounts Receivable (A/R)
Accounts Receivable 18,402.04
Total Accounts Receivable (A/R) 18,402.04
Inventory Asset 7,781.91
Total Current Assets 47,279.52
Non-current Assets
Property, plant and equipment
Accumulated Depreciation -366.63
Furniture and Equipment 2,750.00
Total Property, plant and equipment 2,383.37
Total Non Current Assets 2,383.37
Total Assets $49,662.89
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts Payable (A/P)
Accounts Payable 734.51
Total Accounts Payable (A/P) 734.51
Credit Card
Visa Credit Card 2,077.60
Total Credit Card 2,077.60
GST/HST Payable -23.23
GST/HST Suspense 340.69
Total Current Liabilities 3,129.57
Non-current Liabilities
Note Payable 20,101.86
Total Non-current Liabilities 20,101.86
Total Liabilities 23,231.43
Equity
Owner's Equity - Contributions 12,750.00
Owner's Equity - Draws -2,000.00
Retained Earnings 16,806.34
Profit for the year -1,124.88
Total Equity 26,431.46
Total Liabilities and Equity $49,662.89
Long for Success -- Event Planning 4/4