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Financing your project Unfortunately money doesn't grown on trees.... And no matter how many extravagant ideas you have... Things cost money!!!

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Presentation on theme: "Financing your project Unfortunately money doesn't grown on trees.... And no matter how many extravagant ideas you have... Things cost money!!!"— Presentation transcript:

1 Financing your project Unfortunately money doesn't grown on trees.... And no matter how many extravagant ideas you have... Things cost money!!!

2 Earlier in the project you researched how much you could sell your project for... Or how much you could charge in rent... Or how much income you would get.. This will help you to work out how much you can spend on the project! Don't forget the whole idea is that you want to make money!!

3 What maths could be involved in creating a bedroom? Creating a Bedroom

4 Some common bedroom furniture. Can you estimate the cost? (Excluding VAT) BedWardrobe £699 £899 Chest of Drawers £229 Bedside Table £85 Dressing Table £254 Wallpaper Per roll £29 Paint Per 5litreTin £31.99 Carpet Per m² £28

5 Ignoring the cost of the flooring, walls and labour, Can you work out an estimate for the cost of the basic furniture? ItemCost (£) Bed899 Wardrobe699 Chest of Drawers299 Bedside Table85 Dressing Table254 Subtotal VAT (15%) Grand Total ItemCost (£) Bed899 Wardrobe699 Chest of Drawers299 Bedside Table85 Dressing Table254 Subtotal2236 VAT (15%) Grand Total ItemCost (£) Bed899 Wardrobe699 Chest of Drawers299 Bedside Table85 Dressing Table254 Subtotal2236 VAT (15%) Grand Total ItemCost (£) Bed899 Wardrobe699 Chest of Drawers99 Bedside Table85 Dressing Table254 Subtotal2236 VAT (15%) Grand Total Recap:Finding 15% 15% = 10% + 5% To find 10% you ÷ 10 When you know 10%, ÷ 2 to find 5 %

6 Plan of the bedroom 2.5m 3m 2.5m 5m 2.5m 2m 1m 2m 1.5m Floor Door Window

7 Can you work out the cost of the carpet? Carpet Per m² (excluding VAR) £28 2.5m 3m 2.5m 5m 2.5m 2m 1m 2m 1.5m Floor Door Window Area of floor Cost of Carpet Area of floor x cost per m² 15m² x £28 £420 Add VAT (15% of £420 = £63) 5m x 3m = 15m² £483 Area of floor Cost of Carpet Area of floor x cost per m² 15m² x £28 £420 Add VAT (15% of £420 = £63) 5m x 3m = 15m² £483 5m 3m

8 Can you work out the cost of the walls? 2.5m 3m 2.5m 5m 2.5m 2m 1m 2m 1.5m Paint Wallpaper Per roll £29 Paint Per 5litreTin £31.99 To help you.... One roll of wallpaper covers 8m² 5 litres of paint covers 10m²

9 The cost of the paint. 3m 2.5m 5m 2m 1m 2.5m 3m2m 1.5m 3m x 2.5m = 7.5m² Full wall – door (5m x 2.5m) – (2m x 1m) =10.5m² Full wall – window (2.5m x 3m) – (1.5m x 2m) = 4.5m² Total wall area = 7.5m² m² + 4.5m²= 22.5m² If each tin covers 10m² then we need to divide the total area by ÷ 10 = 2.25 Therefore you need to by 2 ¼ tins of paint. To work out the cost Amount of tins of paint needed x cost of a tin of paint 2 ¼ x £31.99 = £71.98 (Nearest pence) Add VAT (15% of £71.98 = £10.80) = £82.78

10 The cost of the wallpaper. 5m 2.5m Area of wall 5m x 2.5m = 12.5m² Amount of wallpaper = Area of wall divided by 8. = 12.5 ÷ 8 = rolls If you can just buy the exact amount of wall paper then it would cost you rolls x £29 (cost per roll) = £45.31 But, normally you must buy full rolls, so you will need two rolls! 2 x £29 = £58 + VAT (15% of 58 = £8.70) = £66.70

11 The Total Bill Total Bill for Bedroom (Including VAT) Furniture £ Carpet £ Paint £82.78 Wallpaper £66.70 Total Task 1.Work out the total bill. 2.The charges for putting the furniture together, painting the walls and fitting the carpets is 12% of the total cost. How much will your final bill be? 3.There are 6 bedrooms in this house. Work out an estimate for the cost of all the bedrooms.

12 The Total Bill Total Bill for Bedroom (Including VAT) Furniture £ Carpet £ Paint £82.78 Wallpaper £66.70 Total Task 1.Work out the total bill. £ The charges for putting the furniture together, painting the walls and fitting the carpets is 12% of the total cost. How much will your final bill be? £ There are 6 bedrooms in this house. Work out an estimate for the cost of all the bedrooms. £

13 Task Each person in your group choose a room in your project Each person must Using the internet and catalogues choose what you want to go in your room. Make a picture board showing all the products and the cost. Assume prices do not include VAT. Work out the total cost including VAT. Work out the cost of flooring (Show all working) Work out the costs of the walls (Show all working) Work out the total cost Work out cost of labour (use 12% of total cost) How many of these rooms are in the building? Find an estimate for the total cost of all the rooms. As a group Bring all your costs for the rooms together on an excel spreadsheet. Estimate the cost of the rooms you have not covered (e.g. Corridors) Put these in the table. Work out the total cost of the interior design of the building.


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