Cash
Where the money is, what each package still needs, and when the next capital call lands.
Position
Trust account (CBA), 149 entries from 26 May to 4 Nov, balance recomposed entry by entry (credits $505,645 − debits $478,580 = $27,065). Paid, committed and to-go are this page's numbers; the EAC and the budget cover come from The Deal. Categorised ledger: ThriveOne_CBA_razao_ate_2026-11-04.csv.
Pace
Since 7 Sep (week 9 of 14) the account has paid about $10k a week on the works — $12k a week since 22 Sep, but only $7k a week in the last fortnight, because the big October items (kitchen, deck, Hamilton) are paid and the next ones (AC, pool interior, flooring balance, plaster, painting, fence) have not been invoiced yet. October alone was $61.5k. Read plainly: the account looks healthy today and will not be in two weeks — the equalising call is now (calls).
Holding costs run at $6,594/month ($1,522/week); paid to 4 Nov $20,233 — Pepper $5,816.48 × 3, Allianz $287.65 × 5, Gold Coast rates $623.58, water $289.90, AGL $416.70 (paid twice on 3 Nov — credit to request), bank fees $15 (The Deal · 21 Sep). On budget against the $59,347 for nine months. Acquisition all-in: $1,290,668 (The Deal · 21 Sep).
Cost to complete, per package
BZ = allocation approved at G4 (5 Sep). Under each package name, its share of the EAC (MRF-2026-09-21, from The Deal). Paid follows the categorised ledger of 4 Nov, by payee. To-go = EAC share − paid − committed. A negative to-go is a package that has outrun its EAC share: a proposal for the gate, not a number change.
| Package | BZ | Paid | Committed | To-go |
|---|---|---|---|---|
| P0 Demolition, skip bins, excavation, treesEAC 12,670 · Javier demolition 4,950 + skip/BSC/Tom's Tree 4,630 · done | 8,000 | 9,580 | — | 3,090 |
| Roof restoration + gutter cleanoutside the WBS · EAC 3,618 · done | 0 | 3,618 | — | 0 |
| P1 Termite treatment / timber repairsEAC 20,000 · Bang $1,500 paid by Rei outside the account; truss D41, Pegasus baits not contracted | 20,000 | 0 | — | 20,000 |
| P2 PlumbingEAC 14,000 · rough-ins ($900) sit inside Hamilton; pump station installed by Dean this week; HWS (D44) open | 14,000 | 0 | — | 14,000 |
| P3 ElectricalEAC 16,000 · MattElec 1,385 · João 2,445 (25 + 31 Oct) · Sparky Direct 167 · switchboard upgrade (D62) to quote | 16,000 | 3,997 | — | 12,003 |
| P4 General layout + fire-rated wall + kitchen + flooring + glassEAC 65,500 · kitchen BDW 13,132 + installation 8,716 + appliances 2,438 (installed 5–6 Nov) · flooring deposit WZ Vision 2,123 · glass 400 (2 Nov) | 60,000 | 26,809 | —flooring balance ~$9–12k on 12 Nov | 38,691 |
| P5 Bathroom 1EAC 18,000 · Bathroom Trade Outlet 2,173 + Tile Collective 1,134 + Swan Plumbing 1,281 — provisional | 18,000 | 4,588source conflict noted in QA | — | 13,412 |
| P6 Bathroom 2 — ensuiteEAC 16,000 · Kijun Sung tiling 4,200 (25 Oct, new trade — licence and invoice to file); demolition and villaboard are Hamilton variations (P13) | 16,000 | 4,200 | — | 11,800 |
| P7 Bedrooms + robesEAC 8,000 · IKEA robe doors 1,347 (fitted DIY 2 Nov — D58 closed) | 8,000 | 1,347 | — | 6,653 |
| P8 PaintingEAC 20,000 · Javier 5,000 (deposits Sep) + gutter paint 700 · interior quotes $5k / $7.5k / $14k, cap $7–7.5k (D54, undecided) | 20,000 | 5,700 | — | 14,300 |
| P9 DeckingEAC 20,000 · OZ (Liming Lei) 16,720 = 80% of an implied ~$20.9k · deck complete 3 Nov · final 20% against the evidence pack (D51) | 20,000 | 16,720 | 4,180 | −900proposal: EAC +900 |
| P10 Pool interior + coping + surrounds + barrierEAC 35,000 · Matias Schroder deposit 2,000 + pool clean 400 · shell ground; interior balance, coping (D52) and glass barrier not quoted | 20,000 | 2,400 | —Matias balance unknown | 32,600 |
| Ducted air-conditioning — new system (D9)outside the WBS · EAC 15,000 · installed 2–3 Nov with ceiling/wall damage (D61) · invoice not received; $11k quote of 1 Oct + granny split, or "$15k incl. granny AC" | 0 | 0 | 13,000midpoint, before the make-good credit | 2,000 |
| P11 Landscaping, backyard + fenceEAC 12,000 · B&B Fencing $5,500 (full replacement, ABN) vs Chinese $4,200 repair — D56a at the gate | 12,000 | 0 | — | 12,000 |
| P12 Front yard & carparkEAC 8,000 · front deck re-boarded (inside P9's OZ work) | 8,000 | 0 | — | 8,000 |
| P13 Granny flat — Hamilton + fixturesEAC 42,545 · contract $36,300 + variations $3,540 (700h) · 9 transfers 10 Aug → 30 Oct | 6,000 | 34,185source conflict noted in QA | 7,950 | 410 |
| P14 Fees + design packageEAC 29,183 · Apex 695 + Bugres (Joana) 1,200 · new certifier (D50) to engage · falls to ~14–17k under D45 (proposed) | 8,000 | 1,895 | — | 27,288 |
| Paid, not yet allocated to a packagecash withdrawals 3,840 (carpenter Ned 1,950 · Jorge regrout 1,350 · 140 · 400 on 29 Oct) · Alibaba + Gamfreight import 3,189 · Bunnings / eBay / Amazon / tools 2,684 · EAC line: misc 568 | 0 | 9,713 | — | −9,145nets against the packages above once classified |
| PackagesEAC 356,084 · +102,084 on the 254,000 | 254,000 | 124,753 | 25,130 | 206,201 |
| Contingencyconsumed · −16,000 | 16,000 | — | — | 0 |
| BZ → EAC270,000 → 356,084 · +86,084 (+32%) · budget cover 0.76× | 270,000 | 124,753 | 25,130 | 206,201 |
Reclassified on 4 Nov against the 21 Oct page: freight and import purchases (Alibaba, Gamfreight) and the cash withdrawals are shown as unallocated instead of inside P0; Swan Plumbing sits in P5 provisionally; the gutter paint ($700) stays with painting. Three packages sit at or beyond their EAC share (deck, Hamilton, unallocated): proposals for the Wed 11 Nov gate. Where the EAC could land lower — proposals, not numbers: painting at the cap instead of P8's $20k (−$11k), P14 without the general project (−$12–15k), DIY robe doors / glass / doors (−$3k). Where higher: AC damage if not recovered (+$1–3k), fence +$1.5k, patio cover +$8.5k if approved, floor removal +$2–4k, switchboard upgrade (D62) +$1.5–3k indicative. Net: a $20–30k improvement is plausible if the make-good is recovered and painting lands at the cap — rebased on The Deal after the gate, not here.
Package notes from the ledger
- Hamilton — invoice 700h (29 Oct, paid 30 Oct $3,750 = bathroom completion 50% + robe-door install 50%). Milestones now paid: deposit 1,500 · framing 3,500 · plumbing rough-in 6,000 · sheeting/plaster 4,500 of 6,000 · doors/architraves/skirting 3,600 (in full) · waterproofing + tiling 5,500 · bathroom 2,000 of 4,000 · robe doors 1,750 of 3,500; variations: ensuite demolition 1,500, bathroom/laundry rough-in 600, kitchen rough-in 300, villaboard 1,140.Remaining per 700h: plaster 1,500 · bathroom 2,000 · robe doors 1,750 · completion 2,700 = $7,950. The account shows $34,185 to Drew; milestones + variations on 700h add to $31,890 — a $2,295 gap (invoices 701 and 700e are not itemised on 700h). Reconcile before the next claim. The house robe doors were done DIY — confirm what the "robe door install" milestone still covers.remaining $7,950
- Deck — OZ (Liming Lei) — 10,450 (29 Sep) + 3,000 (8 Oct) + 3,270 (9 Oct) against inv2026092701. Deck complete 3 Nov (Rei: "I'll pay him today").The final 20% only against the D51 evidence pack: dated photos of posts, stirrups and joists before boards, the 75 mm gap, list of replaced members, invoice with ABN. It is the R2 evidence for the buyer's B&P.balance ~$4,180
- Kitchen — BDW — two orders (268611, 285098): deposits 1,500 + 1,500 on 8 Oct, balances 7,961 + 2,171 on 20 Oct; installation 8,716 (ref 2474) on 20 Oct; Appliances Online 2,438 (16 Oct).Carcasses installed 5–6 Nov (main, granny kitchenette, laundry); benchtop and splashback to come.$24,286 paid
- AC installer — nothing paid; installed 2–3 Nov; the crew broke the living ceiling around the return-air grille, opened the ensuite ceiling and removed an ensuite wall sheet.Payment only after the make-good or a credit is written on the invoice (D61); licences and CoTC with it. Shown as committed at the $13k midpoint until the invoice exists.~$11–15k pending
- Pool — Matias Schroder — $2,000 "pool resurface" on 13 Oct; the shell was stripped and ground 26 Oct – 2 Nov ("Cico").Contract, licence class, surface-prep sheet, warranty and the interior date still to file.$2,000 deposit
- WZ Vision Pty Ltd — $2,123.12 on 15 Oct: the flooring deposit (Rei, 22 Oct).Closes with the invoice; balance due at install (12 Nov).identified
- Kijun Sung — $4,200 "Tiling" on 25 Oct (ensuite).New trade: invoice with ABN and QBCC tiling licence to file (licensed work above $3,300).$4,200
- Brett Raymond Hankin — $200 + $200 "glass repair" (29–30 Oct), the Marketplace glazier; two panes fitted 2 Nov.Glass spec needed: AS 1288 Grade A where required, or R8 closes as declared.$400
- João (electrician) — $1,000 (25 Oct) + $1,445 (31 Oct); fixed the loose main-switch cable 4 Nov.Certificate of Test for the repair; switchboard upgrade quote (D62).$2,445
Commitments
Signed, agreed, or work already done and awaiting an invoice. Only these lines count as committed; everything being quoted sits in to-go until a contract exists.
- Hamilton — granny-flat frame + bathroom, written contract $36,300 + variations contractPaid $34,185 through the account. Remaining per invoice 700h: plaster 1,500 (hold until the certifier's view on the lining) · bathroom completion 2,000 (after the extra tile row and the cornice detail, photographed) · robe doors 1,750 (scope to confirm) · completion 2,700.$7,950
- Deck — OZ — complete 3 Nov; implied ~$20.9k from the deposits no written contract on filePaid $16,720 (80%). Pay the balance only against the evidence pack.~$4,180
- AC — new ducted system + granny split — installed 2–3 Nov, invoice pending make-good first (D61)Midpoint of the two quotes on the table; the credit for the ceiling/wall damage comes off this line.~$13,000
- Committed, not yet paid$25,130
Booked or being quoted — inside the EAC, not committed
- Flooring — 12 Nov; deposit paid ($2,123); balance ~$9–12k on the day — inside P4.
- Plaster / cornice / patch (D55) — one scope sheet to the trade who was on site 3 Nov; AC repairs itemised separately for the charge-back — inside P4 / P8.
- Interior painting (D54) — Javier $5k · Drew's painter $7.5k · Chinese $14k · one quote pending; cap $7–7.5k — inside P8's $14,300 to-go.
- Pool: Matias balance (interior); coping and surrounds (D52) unquoted; glass barrier and gate — inside P10's $32,600 to-go.
- Fence (D56a) — B&B Fencing $5,500 (quote 3617, full replacement, 43 lm, two gates) vs Chinese $4,200 repair — inside P11.
- Switchboard upgrade (D62) — João to quote; indicative $1.5–3k — inside P3.
- Internal doors (D59) — re-glue test first; $800–1,500 if buying — inside P4.
Watch list — not in the EAC
Patio cover ~$8.5k (Chinese, 3×5 m; Rei wants cheaper quotes) · removal of the existing floor +$2–4k · HWS replacement ~$2k (D44) · solar panel removal CoTC → ~$390k if everything enters (The Deal · 21 Sep). An item enters only if it buys at least 2× its cost in ARV.
Capital calls
Equal hard money, one quarter each, always. Each partner pays up to the common level. Floor: the account never goes below $20k — it is at $27,065 with ~$40–50k due in two weeks, so the call is now.
| Call | Due | Covers | Total | Per partner |
|---|---|---|---|---|
| Call 3 · equalising | Fri 6 Nov | AC (after the make-good) · Hamilton up to $3.5k · deck final · flooring balance · plaster · Pepper 16 Nov · fence if contracted; brings every partner to $130,000 | 31,500 | to $130,000Rod 2,500 · Jean 5,000 · Rei 9,000 · Marcos 15,000 |
| Call 4 | ~Tue 1 Dec | Painting · pool balance, coping, barrier · bathroom 1 · fit-off · landscaping start · holding | 80,000 | 20,000to $150,000 |
| Call 5 | ~1 Jan | Landscaping, certification, sales pack, holding to March — indicative | ~60,000 | ~15,000to $165,000 |
| Call 6 | ~1 Feb | Holding and sale costs to settlement — indicative; the balance to the target | ~72,000 | ~18,000to ~$183,000 |
Formula: target = (contributed to date $488,500 + reno still to pay $231,331 + holding still to pay $39,114 − cash $27,065) ÷ 4. Rei's own count (2 Nov: "Rod and Marcos still owe $5k each") and Jean's ("$75k + $65k = $140k") are personal tallies; the statement is the single source — the only differences are Rei's $1,000 of 26 May and the $2,500 Rod says went to the ManCo in June, both audit items below. Time between contributions is compensated by the 6% in the loan agreements (C3a–d).
Contributions per partner
Phase 1 $85k each (29 Jun–6 Jul), then post-settlement rounds: Rod $42.5k · Jean $40k · Rei $35k · Marcos $30k (the "income by source" view Rei posted on 3 Nov reconciles exactly to the statement).
| Partner | Contributed to 4 Nov | Call 3 | Level after Call 3 | Still to contribute · Base |
|---|---|---|---|---|
| Rod+20,000 on 8 Oct · +15,000 on 3 Nov · $2,500 to the ManCo in June, to confirm | 127,500 | 2,500 | 130,000 | 55,470 |
| Jean+10,000 on 14 Oct · +5,000 on 21 Oct · +5,000 on 4 Nov | 125,000 | 5,000 | 130,000 | 57,970 |
| Rei+10,000 on 19 Oct · +5,000 on 23 Oct · incl. $1,000 of 26 May, to confirm | 121,000 | 9,000 | 130,000 | 61,970 |
| Marcos+10,000 on 23 Oct ("Capital call 2A") · $15,000 due now | 115,000 | 15,000 | 130,000 | 67,970 |
| Total | 488,500 | 31,500 | 520,000 | 243,380 |
Other credits: Pexa settlement $3,298 (15 Jul), PRD $1,000 (5 Jun, Pristine), $280 cash "JJ shed and heater" (14 Aug, a reimbursement, not a contribution) and internal reversals $1,067. ManCo advances $11,500 to the Trust with no Management Agreement yet — to be settled in writing.
Spend governance G1–G6
The six rules we protect so that one budget and one ledger stay true. Company governance and the loan agreements: Governance.
Single Trust account
Every payment leaves the Trust account. Personal cards only with an invoice in the name of ThriveCo One Pty Ltd ATF Thrive One Trust and a reimbursement the same week. Open: Bang ($1,500) and the electrician's materials bought by Rei.
Who approves what
≤ $1k: any partner, notify the group. $1–5k: two partners. > $5k or > 10% of a package: all four. The painting contract (D54), the fence (D56a) and the AC settlement (D61) are all-four decisions.
Quotes in the trustee's name
At least two quotes above $5k; written contract above $10k. Open: OZ (deck), Matias (pool) and the AC installer have no written contract on file; B&B's quote is addressed to a partner.
Evidence before payment
Dated photo + Form or CoTC + reconciliation to the WBS package. The deck's final 20%, Hamilton's bathroom milestone and the AC invoice all wait for evidence — and the AC's make-good.
BZ $270,000 · forecast = EAC
The statement is classified after every upload and the budget cover is recomputed. Rei's spreadsheet and ChatGPT summary are reconciliation aids, not a second budget.
Equalised call
To a common level per partner; the floor ($20k) triggers a call whenever it is breached or about to be, not only on the 1st. Advances recorded in the loan agreements.
Weekly routine
- After each statement — classify, recompose the balance, update paid and committed per package.Marcos · with Claude
- Wednesday — numbers for the partners' meeting: balance, budget cover, next call, open audit items.Marcos · next: Wed 11 Nov 6:30 pm AEST
- Wed 11 Nov — gate: the AC settlement, the three packages at or beyond their EAC share (deck, Hamilton, unallocated), the painting cap, the fence choice.all four
Audit items
Open items from the reconciled ledger, for Grow (accountant). Each one names what closes it.
- AC installer — company, licences (ARCtick + electrical), invoice in the trustee's name, make-good or credit for the damage.Closes: the invoice with the make-good condition written on it; CoTC for the new circuit.Rei
- Hamilton — ledger vs invoice: $34,185 paid vs $31,890 of milestones + variations on 700h.Closes: every transfer tied to a milestone or a variation; the remaining $7,950 agreed in writing.Rei · Marcos
- OZ / Liming Lei $16,720 — no written contract, no ABN on file; deck complete 3 Nov.Closes: the D51 evidence pack and the invoice.Rei
- Kijun Sung $4,200 (25 Oct, tiling) — new trade.Closes: invoice with ABN and QBCC tiling licence.Jean
- Brett Hankin $400 (glass) — AS 1288 evidence.Closes: receipt and glass spec, or R8 marked as declared.Jean
- AGL $208.35 paid twice on 3 Nov (direct debit 348045 + BPAY 208868).Closes: credit on the next bill, or a refund.Jean
- Matias Schroder $2,000 — contract, licence class, scope and warranty for the pool interior.Closes: documents in the Drive, contract in the trustee's name.Rod
- Bugres Pty Ltd $1,200 — design service, scope not in writing.Closes: Joana's proposal or invoice describing the deliverable.Rod
- $1,000 of 26 May counted in Rei's contributions (RAMS FRANCHI, 6 Pristine Ct) and Rod's $2,500 said to have gone to the ManCo in June.Closes: each partner confirms; the loan schedules C3a and C3b record it.Rei · Rod · Marcos records
- $3,840 cash withdrawals — 31 Jul $140 · 5 Aug $950 · 7 Aug $1,000 · 24 Aug $1,350 · 29 Oct $400 (new, unexplained) — and $479 meals and bars.Closes: receipts tied to a package, or a written note of what was bought.Jean collects · Marcos records
- Javier — no invoices for $10,650 paid (demolition $4,950 + painting $5,700, verbal contract).Closes: written statement of account; any new painting work only on a written quote in the trustee's name.Jean
- Online and retail purchases — eBay ×9, Amazon ×2, Temu (reversed), Kogan, Alibaba, Bunnings ×4, Sparky Direct, Master Hire — no invoices attached.Closes: invoices attached to the ledger lines.Jean collects
- ManCo advances $11,500 with no Management Agreement.Closes: written agreement signed by the four partners; the advance recorded against it.Marcos
Decisions on cash for the Wed 11 Nov gate
Record the outcome in the minutes; until then the figures on this page stand as proposed.
- Call 3 now (equalising to $130,000 by Fri 6 Nov) and Call 4 ~1 Dec ($20,000 each) — the floor rule (G6) triggers a call whenever the balance is about to breach $20k.
- AC settlement (D61) — no payment before the make-good or credit is written on the invoice; licences and CoTC with it.
- Painting package D54 — cap $7–7.5k on one scope sheet; above 10% of P8 it is an all-four decision.
- Fence D56a — B&B $5,500 full replacement (termite remediation, ABN, re-issued to the trustee) vs $4,200 repair.
- Packages at or beyond their EAC share — deck +$900 (D51), Hamilton reconciled to contract + variations, the unallocated $9.7k classified — EAC bridge updated on The Deal after the gate.
- Evidence before the next payments — deck final 20%, Hamilton bathroom and robe milestones, Matias balance: photos and documents first (G4).