Originally posted on Facebook - Sept 25, 2017

To those who read my posts frequently, here is an update on the scenario where I received a winning Cash Pot Ticket for $TT20,000 and intended to use some of the cash over 24 months in a Business Development:

1 The Business Development is intended to increase the size of operation of what is currently a hobby or what used to occupy a minute part of my life financially and or in terms of hours and knowledge.

The Business Development area which I have selected is Gardening - Container & Leasehold land, however in this situation I am covering Container Gardening for a period of time.

2 Expectations with respect to Container Gardening:


The cost of the containers may be written off over a number of years or planting periods due to:
a) Durability and expected use of containers over a number of periods
b) Development of knowledge of different plants;
c) tbd - to be determined
d) tba - to be assessed

3 Soil

Soil, like the containers may last for a number of periods, however additional nutrients may need to be added periodically, hence the cost of the soil may be written off to expenses for the first 3 years as follows:

Year 1 Top Soil: Purch - 50% Exp, 50% Deferred Expense
Year 1 Promix: Purch - 75% Exp, 25% Deferred Expense

Year 2 Top Soil: Purch - 50% Exp, 50% Deferred Expense
Year 2 Promix: Purch - 75% Exp, 25% Deferred Expense
Yr 2- Yr 1's Top Soil - 10% Exp, 40% Deferred Expense
Yr 2 - Yr 1's Promix - 10% Exp, 15% Deferred Expense

Year 3 Top Soil: Purch - 50% Exp, 50% Deferred Expense
Year 3 Promix: Purch - 75% Exp, 25% Deferred Expense
Yr3 - Yr 2 Top Soil - 10% Exp, 40% Deferred Expense
Year 2 Promix - 10% Exp, 15% Deferred Expense
Yr 3- Yr 1's Top Soil- 10% Exp, 30% Deferred Expense
Yr 3 - Yr 1's Promix - 5% Exp, 10% Deferred Expense

Purch - Purchase
Soil mix, brand & periods of purchase are subject to choice.

It is assumed that an organic approach may be used for this venture, due to preferences. 

Should a person wish to use fertilisers of any type, the terms and conditions may be modified to take account of this request and expectations.

Each year the soil content, the harvest and the project may be assessed with respect to the following:

Weather conditions, damage, accidents, financial stability of the venture, exit strategy and new ventures.

More frequent assessments, such as a six week assessment may be performed and as needed going forward.

4 The estimated drawdown for this Business Development over the two year period or a twenty four (24) month period is $4,800.

Funds may be accessed for a budgetary period of up to ten (10) months in the first year.

At the end of the first ten (10) months, a decision as to the way forward is to be determined.

In the allocation of the funds received, approximately two thirds of the funds were allocated to Personal Expenses.

However there was the option to invest the funds in the short term, to provide security for the facility and to generate a return and to develop a history of good credit during the period and with respect to this project.

The above information may be used as part of:

~ An assessment of accounting knowledge and practices,
~ An assessment of agricultural practices
~ An assessment of Report Writing, Grammar, mathematics, knowledge of a business or a lifestyle practice.

Disclaimer: I am not advocating gambling nor am I stating that I have won a Cash Pot, the value was obtained from a Cash Pot Payout slip which is available to the public. Each day the payout may differ.

copyright Jennifer N Bailey September 25, 2017 email
jennifernbailey24d@gmail.com