Now we're going to forecast the balance sheet and we're gonna start with the liabilities and equity because that's the funding for the business. So I'm gonna go up and take the assumption for trade and other payables first, all the way at the top where we have the assumptions. And I come down a little bit here.

Trade and other payables. And if I just look at the formula, this will be typically linked to the premiums. So it's premiums written. So I'm gonna take that, the assumption, and then I'm gonna multiply it by premiums written. And this is probably because it's more likely to be related to the actual written premiums, necessarily earned premiums 'cause it's a balance sheet number. So I'm gonna multiply that by the gross written premiums. And then I'll take the other current liabilities. Let me just use the navigation column on the left-hand side here. And I'm gonna come down and get the current liabilities. And again, that's linked to premiums written as well. Most of these items will be linked to the balance sheet, so I'm gonna go to gross written premiums there also. And then I'm going to do a subtotal. There we go. And then we can move on to the long-term liabilities. We'll start with subordinated liabilities. And these typically will be some type of funding for the business, long-term capital funding, but not equity. And in this case we've got a line item, which is the subordinated notes balance. So I'll just take that 259 there. And those notes being issued. Now, the claims reported, that's our first base calculation which I can pick up above.

And I'll take the ending balance and that we'll pull into the balance sheet. And then we've got the incurred but not reported. Now actually, technically what you should see is you should see the claims expense going there first and then go to the reported claims. But actually as long as you keep the ratios constant, it's not gonna make a big difference. And we're just going to take that as 30.8% of the claims provision. So I'll just take that of the claims reported number there. And then we've also got claims handling provisions and these are to do with the expenses of handling the claims. And they will be spread over the time that you actually will expense the claims and that's why it's a liability. So I'm gonna go up to the assumptions and we've got the claims handling provision as a percentage of claims written. So I'm gonna multiply that again from the income statement number. The claims written right at the very top. There we go, gross. I'm always using gross for the balance sheet because the balance sheet includes the reinsurer's share. Then we've got the unearned premium reserve, and I'll take the ending balance from our base calculations for the unearned premium reserves. So let me come up and take that. So we've got equity and then we've got the unearned premium reserve there. So I'll just pull that in. And we have some borrowings as well. So let me go and pull in the borrowings number from the assumptions all the way at the top.

And we've got the borrowings amount and that's just a simple reference there. Then I'll sum it up. And that's the total liabilities. Now the shareholders equity is pretty straightforward. We're just going to take the ending balance of shareholders equity. And we've got a base calculation there. So I'm gonna go up and get the ending balance of the shareholders equity, which is down here. And then we've got another type of capital here, which is just called tier one notes. And these are notes that have been issued into the financial markets that will have tier one criteria from a capital point of view. So it will go towards regulatory capital. And we're just going to pick that up as the tier one notes balance. We're not going to make any adjustments there. So typically they have to be perpetual, they need to be maybe have some loss absorption as well. And then what I'm going to do is sum it up to get my total equity and I'll just sum up the total liabilities and equities. So what I've done there is I've essentially done the funding side of the balance sheet. And it's quite quick to do. And the funding is provided by both the shareholders equity, and the outside capital that's come in, and the reserves provided by the policyholders.