K. M. ALAM & CO.

CHARTERED ACCOUNTANTS

. Selected a sample of contracts and through inspection

of evidence of performance of these controls, tested the
operating effectiveness of the internal controls relating
to the identification of performance obligations and
timing of revenue recognition.

. Selected a sample of contracts and reassessed

contractual terms to determine adherence to the
req uirements of the accountin standard
: -:: on of Property, Plant and Equipment (PPE):
-- :,'-,'lng value of the PPE was Tk. 504,820,987 as Our audit included the following pro cedure:
=
, - . -1e 2022. Expenditures are capitalized if they
: o We assessed whether the accounting policies in relation
:r:: -ew assets or enhance the existing assets, to the capitalization of expenditures are in compliance
- :,::nsed if they relate to repair or maintenance with and found them to be consistent.
IFRS
:-: of the expenditures
assets. Classification . We inspected a sample of invoices and L/C documents to
: .:s ludgment. The useful lives of PPE items are determine whether the classification between capital
:.:r on management's estimates regarding the and revenue expenditure was appropriate.
., :: during which the assets or its significant o We evaluated whether the useful lives determined and
:lnents will be used. The estimates are based applied by the management were in line with historical
-:icrlcal experience and market practice and experience and the market practice.
: i -io consideration the physical condition of the o We checked whether the depreciation of PPE items was
i:: The valuation of PPE was identified as a key commenced timely, by comparing the date of the
r : ']]atter due to the significance of this balance reclassification from capital work in progress to ready
:-: financial statements. See Policy Note No. for use, with the date of the act of completion of the
.- l work.
: ..ration of lnventory:
- -. -ventory of fk. L44O,433,739.00 as at 30 June, We verified the apProPriateness of management's
-: lnventories are carried at the lower of cost and assumptions applied in calculating the value of the
.: 'ealizable value. As a result, the management inventory by:
,::. judgment in determining the appropriate
, -:s for slow-moving or obsolete items. Since the Evaluating the design and implementation of key
. -: of lnventory is significant to the Financial inventory controls.
.r::ments and there is significant measurement Reviewing lhe requirement oI invenlory provisioning
:=rtainty involved in this valuation, the valuation and action there upon by the management.
:ventory was significant to our audit See the Comparing the net realizable value obtained through a
: :y Note No, 4.09 to the financial statements. detailed review of sales subsequent lo the year-end, to
the cost price of a sample of inventories.
:::ounts receivables:
- : company has net Accounts receivables of Tk. Tested the accuracy of aging of Accounts receivables at
-i 808,379.00 as at 30 June 2022. Accounts year end on a sample basis;
'- -:lvables of the company comprise mainly obtained a-list of outstanding receivables and
i::ivables in relation to the selling of Soods to its identified any debtors with financial difficulty through
- -::omers-wholesale. The recoverable amount was discussion with management;
,::lmated by management based on their specific Assessed the recoverability of the unsettled
.:overability assessment on debtor with reference to receivables on a sample basis through our evaluation
: aging profile, historical payment pattern and the of management's assessment with reference to the
:st record of default of the customer. Note No: 9,00 credit profile of the customers, historical payment
r the financial Statement. pattern of customers, publicly available information
and latest correspondence with customers and to
consider if any additional provision should be made;
and tested subsequent settlement of Accounts
receivables after the balance sheet date on a sample
basis, if any.
Advance, Deposit and Prepa ments:

2
:'
ffi Proud lVembe'
AlliottGlobalAllianc :
 I K. M. ALAM & CO.
CHARTERED ACCOUNTANTS

:lvance, deposit and prepayments Tk' 230,188,500 We have tested the maintaining effectiveness of the
by the Company
':'Advance against Salary and others advance. Note advance, deposit and assets position held
r10 Additionally, we performed the following:
. Obtain lncome Tax went through the terms and
conditions of the agreement and verify the number of
advances.

. Obtain vendor list to ascertain the advance against

goods su plv.
::counts payable:
: company has a net Accounts payab le of Tk We verified the appropriateness of Trade and other
-: 706,316 as at 30 June 2022. Payable;
-::ounts payable of the company comprise mainly
::.ables in retation to construction work business. Tested the accuracy of aging of Accounts payable at year
-- : Payable amount was estimated by management end on a sample basis;
:,ed on their specific assessment on creditors with
i':rence to the a8ing profile, historical payment Obtained a list of outstanding Payable and inspected a
::tern and the past record of default of the sample of bills/invoices of parties on a sample basis and
,:omer See Note No. 18.00 to the financial other documents to determine whether those bills were
' ,:a ments appropriate.
r: rk Loan - long and short-term Loan:
- :he reporting date the entity has reported both We obtained an understanding; evaluate the design a nd
.: -3 and Short-Term Loan of Tk. 679,269,160.00 and operating effectiveness of the company's key controls
-)2,667,795.oo respectively. Evidently the entity is over the loans. Our audit included the following
. -g the loan to conduct the operating activities and procedure:
, :cquire non-current assets. Since the Bank loan . Obtained loan statement and facility offer letters to
,..lunt very significant and material to the financial review the terms, debt covenantsi interest rates and
-::ement has identified as a key audit matter. See other conditions mentioned in the sanctioned letter.
::e No. 16.00 & 17.00 to the financial statements.
. Obtained external confirmation to bank to ensure the
accuracy of the figures rePorted.

. Check interest calculation on test basis.

o Checked repayment of loan installments and

adjustments though bank statements.

. Sent direct Confirmation to the bank by us.

-:' lnformation
:gement is responsible for the other information. The other informatio.l-l comprises all of the information in the
.:i report other than financial statements and our auditors' report thereon. The directors are responsible for the
.-nformation.

rcinion on the financial statements does not cover the other information and we do not express any form of
: rce conclusion thereon

-lection with our audit of the financial statements, our responsibility is to read the other information and, in
. so, consider whether the other information is materially inconsistent with the financial statements or our
:dge obtained in the audit or otherwise appears to be materially misstated. lf, based on the work we have
--ned, we conclude that there is a material misstatement ofthis other information; we are required to report that
, 3 have nothing to report in this regard

ffi Proud lVember c'

AlliottGlobalAllianc e
 K. M. ALAM & CO.
CHARTERED ACCOU NTANTS

bilities of Management and Those Charged with Governance for the Financial Statements and lnternal

-rent is responsible for the preparation and fair presentation of the financial statements in accordance with
cnal Financial Reporting Standards (lFRSs), the Companies Act 1994, and other applicable Laws and
:ns and for such internal control as management determines is necessary to enable the preparation of
statements that are free from material misstatement, whether due to fraud or error.

:';ng the financial statements, management is responsible for assessing the Company's ability to continue as a
::ncern, disclosing, as applicable, matters related to Boing concern and using the going concern basis of
-: ng unless management either intends to liquidate the Company or to cease operations, or has no realistic
: but to do so.

:-3rged with governance are responsible for overseeing the Company's financial reporting process.

s Responsibilities for the Audit of the Financial Statements

: ::tives are to obtain reasonable assurance about whether the financial statements as a whole are free from
, misstatement, whether due to fraud or error, and to issue an audito/s report that includes our opinion.
:ole assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with
always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
-.d material if, individually or in the aggregate, they could reasonably be expected to influence the economic
-; of users taken on the basis of these financial statements.

r'an audit in accordance with lSAs, we exercise professional .iudgment and maintain professional skepticism
: Jt the audit. We also:

: fy and assess the risks of material misstatement of the financial statements, whether due to fraud or error,
.r and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
:priate to provide a basis for our opinion. The risk of not detectlng a material misstatement resulting from
" r is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
':presentations, or the override of internalcontrol.

. n an understanding of internal control relevant to the audit ln order to design audit procedures that are
: -.priate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
rany's internal control.

, -ate the appropriateness of account,ng policies used and the reasonableness of accounting estimates and
:::d disclosures made by management.

: ude on the appropriateness of management's use of the going conc6in basis of accounting and, based on the
:: evidence obtained, whether a material uncertainty exists related to events or conditions that may cast
. 'icant doubt on the company's ability to continue as a going concern. lf we conclude that a material
.tainty exists, we are required to draw attention in our audito/s report to the related disclosures in the
.-cial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on
- :udit evidence obtained up to the date of our auditor's report. However, future events or conditions may
.:: the Company's to cease to continue as a going concern.

, -ate the overall presentation, structure, and content of the financial statements, including the disclosures, and
:ler the financial statements represent the underlying transactions and events in a manner that achieves fair
-:: ntation.

4
Proud l\,4ember o+
AlliottGlobalAlliance
 K. M. ALAM & CO.
CHARTERED ACCOUNTANTS

: -ommunicate with those charged with governance regarding, among other matters, the planned scope and timing
:-e audit and significant audit findings, including any significant deficiencies in internal control that we identify
.-g our audit.

, also provide those charged with governance with a statement that we have complied with relevant ethical
-: - rements regarding independence, and to communicate with the mall relationships and other matters that may
-. ::na bly be thought to bear on our independence, and where applicable, related safeguards.

-the matters communicated with those charged with governance, we determine those matters that were of most
.
'icance in the audit of the financial statements of the current period and are therefore the key audit matters. We
. --ibe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or

:r, in extremely rare circumstances, we determine that a matter should not be communicated in our report
. . rse the adverse consequences of doings wou ld reasonably be expected to outweigh the public interest benefits of

- communication.

::port on Other Legal and Regulatory Requirements

- 3ccordance with the Companies Act 1994 and the other applicable Laws and Regulations, we also report that:

We have obtained all the information and explanations which to the best of our knowledge and belief were
necessary for the purpose of our audit and made due verification thereof;

n our opinion, proper books of accounts, records and other statutory books as required by law have been kept by
the Company so far as it appeared from ou r examination of those books;

The Statement of Financial Position, Statements of Comprehensive lncome and Statement of Cash Flow of the
Company together with the Annexed Notes dealt with by the report are in agreement with the books of accounts
and returns; and

Md. Belayet H n FCA

Partner
Enrollment No. 1480
K.M. Alam & Co.
:ce: Dhaka Chartered Accountants
. rie: September 13,2023 DVC:2309131480AS317047

ffi Proud l\rlember c'f

AlliottGlobalAlliancd
 Blue Planet Fashionwear Limited
Statement of Financial Position
as at June 30,2022
Amount in Taka
Particulars Notes
June 30,2022 June 30. 2021

Assets:
Non-Current Assets: s04,935,987 546,82?,660
Property, Plant and EquiPment 7.O0 504,820,987 546,708,660
Preliminary Expenses 115,000 115,000

Current Assets: 2,t94,L67,646 959,085,916

nventories 8.00 L,440,433,739 2a\L7L,496
Bills Receivable 9.00 148,808,379 160,739,577
Advances, Deposits and Prepayments 10.00 230,188,500 208,188,500
Loan To lnter Company 11.00 100,000,000 100,000,000
Adva nce lncome Tax 12.00 13,27L,670 5,470,704
Cash & Cash Equivalents 13.00 261,525,358 203,515,639

Total Assets: 2,699,LO},633 1,505,909,576

Shareholders Equitv & Liabilities:

Equity attributable to the Shareholders L87,053,763 84,207,685

0rdinary Sha re Capital 14.00 10,000,000 10,000,000
Retained Earnings 15.00 177,053,763 74,207,685

Liabilities:

Non Current Liabilities 679,269,160 704,4oo,725

Long Term Loan 16.00 679,269,L60 704,800,72s

current Liabilities t,8s2,780,709 7L6,901,166

Short Term Loan 17 .00 r,792,667 ,795 692,470,338
Accounts & Others Paya ble 18.00 L5,706,316 12,L83,582
Provision for lncome Tax 19.00 13,089,295 5,3s7,901
Provision for Expenses 20.00 tL,3L7 ,303 6,949,345

Total Liabilities: 2,5L2,O49 ,869 1,42L,70L,89L

Total Equity and Liabilities: 2,599,103,633 1,505,909,576

The annexed notes form (1-26) an integral part of this financial position.

Di ( Mana g Director

Signed ln terms of our separate report of even date annexed.

Md. Belayet Hossain FCA

Enrollment No. 1480
Place:Dhaka K,M Alam & Co.
Dated: September 13, 2023 Chartered Accountants
DVC:23091314804S317047
6
 Blue Planet Fashionwear Limited
Statements of Profit or Loss and Other Comprehensive Income
for the year ended June 30,2022

Amount in Taka
Particulars Notes
2021-2022 2020-202t

Sales Revenue 21.00 1,556,87 4,883 L,707,444,272

Less: Cost of Sales 22.00 L,364,412,365 961,318,675

Gross Profit r92,462,518 L46,L25,597

Less: Ad mlnlstrative Expenses 23.00 74,963,178 7 ,477 ,954

Operating Profit 777,499,340 L38,647,643

Add: Other lncome 24.00 45,445,450

Less: Financial Expenses 25.00 107 ,009,4L7 93,993,46s

Profit before lncome Tax tLs,935,t74 44,654,L74

Less: lncome Tax Expenses 26.00 13,089,295 5,357,901

Profit after lncome Tax for the year LOz,846,078 39,296,277

The an n xed notes(1-26) form an integral part ofthis Profit or Loss and Other Comp rehensive ln e

Director Man I Director

Signed in terms of our separate report of even date annexed.

Md. Belayet Hossain FCA

Enrollment No, 1480
K.M Alam & Co.
Place: Dha ka Chartered Accountants
Dated: September L3, 2023 DVC:2309131480AS317047

7
 Blue Planet Fashionwear Limited
Statement of Changes in Equity
for the year ended June 30,2022

Amount in Taka

Particulars
ordinary Share
Retained Earnings Total
Capital

Opening Balance 10,000,000 74,207,685 84,207,685

Profit after lncome Tax for the year 102,846,O78 702,846,078

Balance as on June 30,2022 10,000,000 t77,O51,763 187,053,763

Blue Planet Fashionwear Limited

Statement of Changes in Equity
For the year ended June 30, 2021

Amount in Taka
Particulars
Ordinary Share
Retained Earnings Total
Capital

Open ing Balance 34,9rL,408 44,977,408

10,000,000.00

Profit after lncome Tax for the year 39,296,277 39,296,277

Balance as on June 30, 2021 10,000,000 7 4,207 ,685 84,207,685

Di r Man gi ng Director

Signed in terms of our separate report of even date annexed

Place: Dha ka
Dated: September 13, 2023

8
 Blue Planet Fashionwear Limited
Statement of Cash Flows
for the year ended June 30, 2022

Amount in Taka
Particulars
2027-2022 II 2020-202L

Cash Flow from Operating Activities:

Profit/(Loss) for the Year 102,951,078 39,296,277

Adjustment for non cash items 42,307,673 39,885,244

(lncrease) / Decrease in Current Assets 17,L77,O72,O7O1 9,952,859

lnventories (1.,\59 ,262 ,243]| 10,985,480
Bills Receiva ble 11,931,199 705,296,224
Advances, Deposits and Prepayments (22,000,000) (104,000,813)

Advance lncome Tax (7,740,966], 12,328,0321,

lncrease / (Decrease) in Current Liabilities 15,517,085 8,L96,934

Accounts and Other Paya bles 3,522,734 t,242,982
Accruals and Provisions 4,262,958 4,738,723
Provision for lncome Tax 7,731,394 2,?75,229
Net Cash used in Operating Activities (a) 17,0L6,296,L73l. 97 ,33L,374
Cash Flow from lnvesting Activities:
Payment for Property, Plant and Equipment (420,000) 167 ,L3L,602l
Loan To lnter Company (100,000,000)
Cash Flow from lnvesting Activities: (B) (420,000) (1.67,731.,6021

Cash Flow from Financing Activities:

Long Term BorrowinB (pa id )/receive (2s,s31,s6s) 35,457,9L3
Short Term Borrowing (pa id )/receive 7,700,257,457 13s,839,949
Net Cash Used to Financing Activities: (C) L,074,725,892 L77,307,862

Net Cash inflow/ outflow( A+B+C) 58,009,719 L07,507,574

Cash & Cash equivalents at the beginning ofthe Year 203,515,639 102,008,065
Cash & Cash equivalents at the end of the Year ______l9tE?s,$!_ _____1934Lq99_

The annexed notes form an integral part of this Cash Flows

<\

Dir ctor Ma ing Director

Place:Dhaka
Dated: Septembe r 73,2023

9
 BLUE PLANET FASHIONWEAR LIMITED
Notes to the Financial Statements
For the year ended June 30,2022

1.00 Legal status

The company was incorporated on osth day of February,2015 in Bangladesh under

the companies Act
1g94. The address of its registered office is House-14, Road-03, sector-6, uttara, Dhaka.

1.02 Nature of Business:

The Nature of business is Manufacturer and Export of Garments products'

2.00 Basis of Financial Statements Preparation and Presentation

2,01 Basis of Accounting:

The financial statements have been prepared on a going concern basis following accrual basis of
accounting except for cash flows statement in accordance with lnternational Financial Reporting
Standards (lFRSs)issued by the lnternational Accounting Standards Board (IASB)as adopted in
Bangladesh by the lnstitute of Chartered Accountants of Bangladesh (ICAB).

2.02 Additional information on financial statement

Responsibility for preparing and presentation of financial statement

The board of Directors are responsible for the preparation of the financial statements under section 183 of
the companies Act 1994 and BAS-1 "Presentation of Financial statements", the complete set of financial
statements comprise of the following components:

i. Statements of Financial Position as at June 30, 2022;

ii. Statement of Profit or Loss and Other Com prehensive lncome for the year ended J une 30,2022;

iii. Statement of Cash Flows for the year ended June 30, 2022;
iv. Statement of Changes in Equity for the year ended June 30, 2022 and

v. Notes, comprising significant accounting policies and other explanatory information.

2.03 Reporting Period

The financial period of the Company covers twelve months' period from O1't July, 2027 lo
3OthJune, 2022 consistently and complies with the lnternational Accounting Standards (lAS).

2.04 Re-Arrangement of Figure

Previous year figures have been re-arranged wherever necessary to confirm current year
presentation.

ffi,A'
(t-Fi,l
tu,..it/
10
3.00 Basis of Preparation:

3.01 Statement of ComPliance

The financial statements have been prepared in accordance with Bangladesh Financial Reporting
standards (BFRS) and Bangladesh AccountinS standards (BASs), the companies Act 1994
and

other applicable laws and regulations.

The Following Standards are applied to the Financial Statements for the year ended 30 June
2022:

IAS 1 Presentation of Financial Statements

IAS 2 lnventories
IAS 7 Statement of Cash Flows
IAS 8 Accounting Polices, Changes in Accounting Estimates and Errors
IAS 10 Events after the Reporting Period
IAS 16 Property, Plant and Equipment
IAS 23 Borrowin8 Costs
IAS 32 Financial lnstruments: Presentation
IAS 37 Provisions, Contingent Liabilities and Contingent Assets
IFRS 07 Financial lnstruments: Disclosure
IFRS 09 Financial lnstruments
IFRS 13 Fair Value Measurement
IFRS 15 Revenue from Contracts with Customers

IAS 12: lncome Taxes

The company has yet to implement IAS 12: Provision for Deferred Tax.

IAS 19:
Employee Benefits
The company is yet to implement IAS 19: Provision for Employee Benefits.

IAS 21: Foreign Currency Translation

Different exchange rates were applied for loans and bank balances in foreign currency to translate
in local currency on reporting date.

IAS 37 Provisions, Contintent tiabilities and Contingent Assets

The company is yet to make provision for gratuity and staff provident fund in the financial
statements.

3.02 Basis of Measurement

The financial statements have been prepared on the historical cost basis.

3.03 Functional and Presentation Currency

These financial statements are prepared in Bangladesh (Taka/Tk.) currency, which is the
Company's functional currency. All financial information presented in Taka has been rounded off
to the nea rest Taka.

7L
4.00 Basis of preparation and significant accounting policies

A,Ot Going Concern lssue:

The Company has adequate resources to continue in operation for foreseeable future. For this
reason, the directors continue to adopt going concern basis in preparing the financial statements.
The current credit facilities and resources of the Company provide sufficient fund to meet the
present requirements of its existing businesses and operations.

4.OZ Accruals & Deferrals:

Deferrals and accruals have been made as per the guidance in IAS-I "Presentation of Financial
Statements". ln order to meet their objectives, Financial Statements, except for the Statement of
Cash Flows and related information, are prepared on accrual basis of accounting. Under the basis
the effects of transactions and other events are recognized when they occur (and not when cash
or its equivalent is received or paid) and they are recorded in the accounting records and reported
in the Financial Statements of the year to which they relate.

4.03 Revenue Recognition

IFRS L5 establishes acomprehensive framework for determining whether, how much and when
revenue is recognized. lt replaces IAS 18: Revenue, IAS 11 Construction Contracts and related
interpretations.

The Company recognizes as revenue the amount that reflects the consideration to which the
Company expects to be entitled in exchange for goods or services when (or as) it transfers control
to the customers.
Company recognizes revenue when (or as) the Company satisfies the performance obligations by
transferring promised goods to a customer. Goods are considered as transferred when (or as) the
customer obtains control of those goods. Revenue from sale of goods is measured at the fair
value of consideration received or receivables net of returns, and allowances, trade discounts,
rebates and Value Added Tax (VAT) collected on behalf ofthe Government.

4.O4 Use of Estimat€s and Judgment

The preparation of these financial statements is in conformity with IFRSS requires management to
make judgments, estimates and assumptions that affect the application of accounting policies and
the reported amounts of assets, liabilities, income and expense. Actual results may differ from
these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis.
Provisions to accounting estimates are recognized in the year in which the estimates are revised
and in any future periods affected.

4.05 Statements of Cash Flows

The Statement of Cash Flows has been prepared in accordance with the requirements of IAS 7:
Statement of Cash Flows. The cash generated from operating activities has been reported using
the direct method as following the benchmark treatment of IAS-7, whereby major classes of gross
cash receipts and gross cash payments from operating activities are disclosed.

t2
4.06 Statement of Changes in Equity
Statement of changes in equity has been prepared in accordance with lnternational Accounting
Standards IAS-1:" Presentation of Financial Statements".

4.07 Property, Plant and Equipment

4.07.01 Recognition and Measurement

Items of property, plant and equipment are measured at cost less accumulated depreciation and
any accumulated impairment toss, if any capital work in progress represents the cost incurred for
acquisition and / or construction of property, plant and equipment that were not ready for use at
the end of June-2022 and these are stated at cost. Cost includes expenditure that is directly
attributable to the acquisition of assets.
4.07.02 Depreciation
Depreciation s the systematic allocation of the depreciable amount of an asset over its useful life.
Depreciation on tangible non-current assets for the period has been calculated on straight line
method apc".1'.,e the rates so as to write off the assets overtheir estimated useful lives. Useful life
istheper,.::.:.,.,,hichanassetisexpectedtobeavailableforusebytheCompany.Depreciation
charged {:...:. year has been recognized in the statement of profit or loss. The rates of
depreciatic^ :^ following fixed assets are as follows:

4.08 Cash and Cash Equivalent

Cash and cash equivalent include cash in hand, cash at banks which are held and available for use
by the Company without any restriction'

4.09 lnventories
physical lnventory has been taken by the management at the yearend which are measured at the
lower of cost and net realizable value as prescribed by IAS 2. Net realizable value is the estimated
selling price in the ordinary course of business less the estimated costs of completion and selling
expenses. Costs of Finished Goods include material and conversion costs, Cost of work-in process
includes material cost.

4.10 Adrances, Deposits and Prepayments

Advances are initially measured at cost. After initial recognition advances are carried at cost less
deductions, adjustments or charges to other account heads such as advance income tax which will
be adjusted subsequent year.

4,tL Capital: Share Capital

Share capital is fully paid up by the shareholders. Details have been specified in note-11.

4.L2 :a'ed Ea r n ings

Reta nea epresents available distributable profit to the shareholders after making all
necess: - -;:-:-: n the financial statements.

13
4.L3 Provision

A provision is recognized in the Statement of Financial Position when the Company has a present
obligation (legal or constructive obligation) as a result of a past event, it is probable that an
outflow of economic benefits will be required to settle the obligation and a reliable estimate can
be made of the amount of the obligation.

4.L4 Finance costs

Finance costs comprise interest expenses on bank loan and other borrowings and are recognized
in the income statement.

4.15 Trade Payable and Accruals

Liabilities for trade and other creditors, which are normally settled on shortly and payable to
related parties, are initially recognized at fair value. Liabilities are recorded at the level of
estimated amount payable in settlement.

5.0 Events after the Reporting Period

Events after the balance sheet date that provide additional information about the Company's
position at the balance sheet date are reflected in the financial statements.

6.0 General

Previous year figures have been re-arranged wherever necessary to confirm current year
presentation. Figures have been rounded offto the nearest Taka as the currency represented in
these financia I statements.

Dhaka

14
 Amount in Taka
Sl".No Particulars
June 30,2022 .lune 30,2021

7.00 Property, Plant and Equipment : Tk. 504,820,987

Written DOwn Valuel

Opening Balance 545,708,660 579,462,302
Add: Addition during the year 420,000 67,t37,602
547,t24,660 586,s93,904
Lessr Depreciation during the year 42,307,673 39,885,244
Written Down Value 504,820,987 546,708,660
The details Schedule of Property, Plant & Equipment are shown in attached Annexure- A.

8.00 lnventories: Tk , 1,099,706,779

Closing Stock L,440,433 ,7 39 | ,sl,1:rAr6

Total: t,440,433,739 287,77t,496

9.00 Bills Receivable: Tk. 148,808,378

Bills Receivable 148,808,379 | rco1zs,stt
Total: 148,808,379 !60,739,577

10.00 Advances, Deposits & Prepayments: Tk. 230,188,500

Advance against Salary 126,000 230,000

Other Advance 230,062,500 207,958,500
Total: ______?g9rg&!90 208,188,s00

11,00 Loan To Inter Companyi Tk. 100,000,000

Loan
Totali
to B ue Planet Knit Composite Ltd. I roo,ooo,ooo I roopoopoo
100,000,000 _____199,099pq0

12.00 Advance lncome Tax: Tk. L3,27!,67O

Oa:'': -i: a:lce 5,470,704 3,142,672

A:;: :- :-'-g the year 13,277,670 5,470,704
Iess: ::. -.:-e^t during the year 5,470,704 3,142,672
Total
_______E 211 9_ --____j,4791 04 _
13.00 Cas:' & C.sh Equivalentsi Tk,496,L46,236

7r0,968,237 203,515,539
Ls0,557,L21,
Tot: _______-?91E38!!_ 203 ,515,639
--: ,:: - :: : _,= a::-: CIOSe Of th e buslness on 30th lune, 2022 has been taken and certified by the management

Cas- :: a:-. T< 150,557,121

: :i-.- -tC. AWCA(Regular) A/C No. 237208 2,363,996 467,427
:-::- -:1. MDA Normal (Regular)A/C No. 16209 35,242 6,702
:::.- -::. FCAD ORQ(Regular) A/C No. 2207 1.0,669 57,245
::::- -::. FCAD ERQ(Regular) A/C No. 005506 166,78s 10,879,8ss
:::: - -:: :C He d BB LC(Regular)A/C No.6004 45,186,s16 63,83s,997
:: -. -:: Cl(Regular) A/CNo.0000727 407,970 77,263
:: -. -:: :CAD ERe(Regular)A/C No.000039 1,353,055 8,560,184
:. -. -:: :a leld (Regular)A/C No.0000233 1,409,974 716,450,716
: r' -:: :: *e C BB LC(Regular)A/C No.391 3,058,871
- : :: -: o dB -C(Regula )A/C No.477 17,954,581
-:r :: -. c BB tC(Regular)A/C No.551 24,976,855
8B LC(Regular) A/c No. 561 7,240,463
BB LC(Regular) A/C No. 575 7,462,21s
BB LC(Regular) A/C No, 576
15
 Amount in Taka
SL.No Particulars
June 30,2022 June 30,2021

NRB Cornmercial Bank ttd. FC Held BB LC(Regular)A/C No.582 5

NRB Commercial Bank Ltd. FC Held BB LC(Regular)A/c No.583 30,22?,702
NRB Commercial Bank Ltd, FC Held BB LC(Regular)A/C No. 586 6,767,705
NRB Commercial Bank Ltd. FC Held BB LC(Regular)A/C No. 709 847,775
NRB Commercial Bank Ltd. FDR A/C No. 1287 5,000,000
Trust Eank Ltd. CD (Operative) A/C No, 00170210012833 242,r82 55,464
Trust Eank Ltd. FC RQ A/C No. 00175101000137 2,347,799
Trust Bank Ltd. DAD FC A/C No. 00175025000291 1,105,866
Premier Bank Ltd. CD A/C No.010111100019028 70,243 77,787
Dhaka Bank Ltd. CD A/C No.2041000016430 4,042,792 191,465
Dutch Bangla Bank Limited CD A/C No. 2131100013900 794,423 101,535
Total: 150,557,121 __2o9a4ep3e_
14.00 Ordinary share capital: Tk. 10,000,000

Authorized Share Capital

5,000,000 Ordinary Shares of Tk. 100 each 500,000,000 500,000,000
50o,0oo,oo0
-___199p99,09q_
lssued, subscribed & Paid- up capital
100,000 Ordinary Shares ofTk. 100 each 10,000,000 10,000,000
Total: 10,000,000 10,000,000
15.00 Retained Earnings: Tk. 177,158,753
Opening Balance 74,207,685 34,911,408
Add: Profit after lncome Tax during the year L02,846,078 39,296,277
Closing Balance: _______ry_,0$nE_ _____J! 207]6es_
16.00 long Term Loan: Tk, 679,269,160
lslami Bank Eangladesh Ltd
Total:
679,269,160
679,269,760
l iilpoeid
____J!!8097]l_
17,00 ShortTerm Loan fk. !,792,667,795
MFCI Loan, lslami Bank Ban8ladesh Ltd. 69,603,455 1,312,080
Bai Murabaha Loan, lslami Bank Bangladesh Ltd, 308,928,619 384,501,079
BaiSalam Loan, lslami Bank Bangladesh Ltd, 103,099,000 39,728,608
Murabaha TR Loan, lslami Bank Eangladesh Ltd. 195,68t,054 14,702,908
LC Accepted Liability, lslami Bank Eangladesh Ltd. 80,707,607 77,646,663
LC Accepted Liability, NRB Commercial Bank Ltd. 95,271,000 98,212,000
EDF Loan, NRB Commercial Bank Ltd. 240,433,000 82,A47,000
OD Loan, NRB Commercial Bank Ltd. 49,521,000
PC Loan, NRB Commercial Bank Ltd. 32,208,2s9
Trust Bank Limited s66,072,0ss
OD Loan, The Premier Bank Ltd. 5L,t42,746
Total: ____J192,66U!!______993419.11!_
18.00 Accounts & Others Payablet Tk. 15,706,316

Payab e for goods 15,706,315 72,183,5a2

Total: 15,706,376 _____J2,183,s82_

19.00 Provision for lncome Tax: Tk, 13,089,295

Opening balance 5,357,901 3,142,612
Provision made during the year 13,089,29s 5,357,901
Less: Adjustment during the year 5,357,901 3,L42,672
Total: 13,089,295 5,357,901
20.00 Provision for Expenses: Tk, 11,212,303

Legal & Audit Fees 230,000 125,000

Wages & Salary 9,'187,893 5,813,800
Telephone, Moblle & lnternet bill 52,400
Utllities Blll t,299,410 958,145
Tota l: 17,3!7,303 6,949,345
16
t

Amount in Taka
Sl. No Particulars
2O2r-2O22 ll ZOZO-ZOZI

21,00 Sales Revenue: Tk. 1,556,874,883

Sales Revenue 1,556,874,883 L,707,444,272

Total: 1,556,874,883 _____1,107_41!272_

22.00 Cost of Sales: Tk. 1,364,412,365

Raw Materials 1,993,430,815 826,705,8t1

Wages & Salaries L?0,839,494 7L,05t,242
Electricity Expenses 12,065,910 6,285,79s
Overtime 8,308,158 354,853
Labou r Bill 7,829,780 396,47r
Fuel for Generator 1,7 47,927 4,827 ,980
Spa re Parts and Maintenance 618,615 958,724
lnsurance Premium 2,297,53I
Depreciation 41,874,8L7 39,752,319
2,L82,947 ,048 950,333,19s
Add: O pening lnventories 28L,t7L,496 292,756,976
less: Closing lnventories L, 099 ,706,179 28r,771.,496
Total: L,3 96L,3L8,675

23,00 Administrative Expenses: Tk. 14,858,178

Sala ry, Allowance & Bonus 6,403,r20 4,185,762

Conveyance 503,71.2 108,570
Enterta inment 1,03s,658 490,587
Export Expense 859,203 18,875
Stationery & Others 3s,330 38,542
Paper& Periodicals 66,227 24,856
Telephone, Mobile Bill 178,950 110,665
Electricity Bill 166,92t 68,456
Foreign Tour 2,192,047 110,2 50
Drin kingWater Bill 32,000 30,2L4
Photocopy & Documentation 35,330 41,456
lnternet, Fax & E-Mail Bill 58,000 49,7 45
Repair & Maintena nce 72,400 92,963
Water Bill 43,470 6t,257
Fuel & Lubricant 288,364 75,850
Fees, Forms & Renewals to7 ,7 48 95,000
Traveling Expenses 604,958 415,881
Sample Expenses 1,556,87s 1,201,100
Legal& Audit Fees 230,000 125,000
Depreciation 492,855 732,925
Total: _________aE63/J3_ 7 77 954

77
 Amount in Taka
Sl. No Particulars
2027-2022 2020-2021

24.00 Other lncome: Tk. 45,445,450

Cash lncentive 45,181,700

Bank lnterest 263,750
Total: 45,445,45O

25.00 Financial Expense: Tk. L07,O09,4t7

Bank Charges, Commission & Others 77 ,390 75,895

lnterest on Loan 706,932,O27 93,917,570
Total: LO7,OO9,4L7 93,993,465

25.00 lncome Tax Expenses: Tk. 13,089,295

Current tax 13,089,295 5,357,907
Total: 13,oa9,295 5,357,901

18
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