Project on Setting Up an Apparel Retail Store
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Transcript of Project on Setting Up an Apparel Retail Store
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7/31/2019 Project on Setting Up an Apparel Retail Store
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For setting up our first retail store we acquired an area of 350sq feet @10000 per sq feet amounting to Rs.3500000 atcenter stage mall .we have been purchasing land and building for furtherexpansion of Desi PunkFor the smooth functioning we hired people for the
following positions : Store manager(1) Assistant store manager(1) Department manager (2) Team leader (1) Team members (2) Cleaning Team (2)
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CAPITAL REQUIREMENTS:
YEAR 1:CAPITAL- 25,00,000
LOAN 20,00,000
YEAR 2:CAPITAL 40,00,000LOAN 17,60,000
YEAR 3:CAPITAL 60,00,000LOAN 32,60,000Interest on loan and capital was being provided at 10% per annum.
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To insurance account 60,000
To repairs 4,900
To sundry trade expenses 1,200
To conveyance 13,400
To office expenses 16,200
To interest on loan 2,00,000
To interest on capital 2,50,000
To office lighting 56,600
To advertising 15,000
To import duty 2,00,000
To discount 21,200
To bad debts written off 1,23,750
To depreciation:
Equipment 27,500
Furniture and fitting 7,500
Land and building 3,50,000
To net profit t/f to capital account 7,26,850
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PARTICULARS AMOUNT PARTICULARS AMOUNT
To opening stock 4,15,000 By sales 43,70,000To purchases 14,12,000 By closing stock 3,80,000To octroi 7,500
To dock charges 8,300
To Wages 24,000
To gross profit transferred to p &l a/c
28,83,200
47,50,000 47,50,000
To salaries 1,95,000 By gross profit transfer fromtrading account
28,83,200
To stationary and printing 5,815 By income from investment 3,85,000
To postage and telegram 2,800
To audit fees 8,000
To legal charges 8,400
To telephone expenses 12,250
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To insurance account 66,000
To repairs 5,650
To sundry trade expenses 1,400
To conveyance 19,375
To office expenses 18,700
To interest on loan 1,60,000
To interest on capital 4,00,000
To office lighting 88,150
To advertising 80,000
To import duty 2,37,500
To depreciation:
Equipment 49,000
Furniture and fitting 37,000
Land and Building 4,40,000
To net profit t/f to capital account 14,33,160
32,68,200 32,68,200
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LIABILITIES AMOUNT ASSETS AMOUNTCreditors 3,70,000 Cash in hand 6,54,358Bills payable 59,000 Cash at bank 10,43,500Employee provident fund 9,750 Debtors 16,50,000
Loan 16,00,000(Add) interest onLoan 1,60,000
17,60,000Closing stock 3,80,000
Equipment 4,90,000(Less)depreciation 49,000
4,41,000
Capital 40,00,000 Furniture andFitting 3,70,000(Less)depreciation 37,000
3,33,000
(Add) intereston capital 4,00,000
Land andBuilding 44,00,000(Less)depreciation4,40,000
39,60,000
(Add)netprofit 14,33,160 58,33,160
Income tax 4,29,948
84,61,858 84,61,858
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PARTICULARS AMOUNT PARTICULARS AMOUNT
To opening stock 3,80,000 By sales 59,33,000To purchases 21,80,000 By closing stock 5,80,000To octroi 14,000
To dock charges 21,050
To Wages 24,000
To gross profit transferred to p &l a/c
38,93,950
65,13,000 65,13,000
To salaries 2,34,000 By gross profit transfer fromtrading account
38,93,950
To stationary and printing 14,200 By income from investment 14,30,000
To postage and telegram 3,100
To audit fees 11,000
To legal charges 8,400
To telephone expenses 16,840
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To insurance account 70,575
To repairs 9,145
To sundry trade expenses 1,730
To conveyance 25,940
To office expenses 21,000
To interest on loan 3,26,000
To interest on capital 6,00,000
To office lighting 1,10,085
To advertising 49,350
To import duty 4,25,000
To depreciation:
Equipment 49,000
Furniture and fitting 47,500
Land and Building 5,70,000
To net profit t/f to capital account 27,31,085
53,23,950 53,23,950
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LIABILITIES AMOUNT ASSETS AMOUNTCreditors 2,93,000 Cash in hand 23,50,000Bills payable 1,15,000 Cash at bank 25,57,610Employee provident fund 11,700 Debtors 26,70,000Loan 17,60,000
(Add) intereston Loan 1,76,000(Add)additionalLoan 15,00,000(Add) interestOn loan 1,50,000
35,86,000
Closing stock 5,80,000
Equipment 4,90,000(Less)depreciation 49,000 4,41,000
Capital 60,00,000 Furniture andFitting 4,75,000(Less)depreciation 47,500
4,27,500
(Add) intereston capital 6,00,000
Land andBuilding 57,00,000(Less)depreciation 5,70,000
51,30,000
(Add)net profit 27,31,085
93,31,085
Income tax 8,19,325
1,41,56,110 1,41,56,110
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7/31/2019 Project on Setting Up an Apparel Retail Store
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The projected sales has been increasing tremendously as in the1 st year the sale was Rs. 34,00,000,2 nd year sales areRs.43,70,000 which shows an increase of 28.52% and in the 3 rd year the sales further increased by 15,63,000 which meant a35.76% increase.
Desi punk witnessed continuous profits wherein the profit in the1 st year was of 14,33,160 which grew by 11.42% in the secondyear which has further grown by 13.24% which has becomepossible due to the effective promotional strategy in advertisingthe brand.
The proportionate increase in return on investment as in year1:16.15% and in year 2:25.59% and in the year 3:29.49%.It has increased constantly with each passing year.
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Desi Punk was successful in establishing a unique clothingretail business in Delhi and NCR .
The strength of Desi Punk is that the customers could easilydifferentiate among the products while its weakness wasabsence of promotions strategy.
We intend to diversify the business .
We strive for continuous profits.
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This project report mainly focused on ethnic women ware,other different kinds of trades under clothing sector are notconsidered.A new firm may find it difficult to enter in cloth trading asthe already established firm may give them a toughcompetition.
The firm needs to maintain varieties of stock whichultimately demanded a huge investment.
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