THT-Space Electrical Company Ltd.
MS SFB-04,Uttara EPZ,Nilphamary
Statement of Partnership Financial Position
As at 30 June 2021
Particulars Notes Amount (TK.) 30 Amount (TK.)
June 2021 30 June 2020
PROPERTY AND ASSETS
A. Non Current Assets: 57,011,707 42,626,140
Property & Equipment 1.00 57,011,707 42,626,140
Preliminery Expenses 2.00 - 88,546
Pre-operating Expenses 3.00 11,232,623 15,536,843
B. Current Assets: 102,446,467 26,268,515
Cash & Cash Equivalents 4.00 32,140,819 512,853
Advances, Deposits & Pre-payments 5.00 8,214,874 8,189,874
Closing Inventory 62,090,773 17,565,788
TOTAL (A+B) 170,690,796 84,520,044
CAPITAL & LIABILITIES
(13,877,421) (12,792,536)
A. Share Capital 100,000 100,000
Retainded Earnings (13,977,421) (12,892,536)
B. Current liabilities: 184,568,217 97,312,580
Liability for Expenses 6.00 6,014,950 1,987,880
Loan from Director 32,919,375 32,919,375
Accounts Payable 145,633,892 62,405,324
TOTAL (A+B) 170,690,796 84,520,044
The accompanying notes form an Integral Part of these Financial Statements
______________________ ____________________
Managing Director Director
Dated : 16th November , 2021
Dhaka Chartered Accountants
THT-Space Electrical Company Ltd.
MS SFB-04,Uttara EPZ,Nilphamary
Statement of Profit and Loss and other comprehensive income
For the year ended 30 June 2021
Amount (TK.) Amount (TK.)
Particulars Notes
2021 2020
Revenue 7.00 154,868,833 6,480,979
Less: Cost of Goods sold 8.00 (104,431,702) (5,336,300)
Production Overhead 9.00 (26,936,667) (5,295,614)
Gross Profit/(Loss) for the period 23,500,464 (4,150,935)
Adminstritive Expense 10.00 9,637,130 2,487,029
Import/Export Expense 11.00 8,418,078 2,011,816
Depreciation 6,334,634 3,001,820
Amortization-Preliminery Expenses - 7,071
Amortization-Pre-Operating Expenses - 1,219,088
Financial Expense 195,506 14,778
(24,585,349) (8,741,602)
Total Profit / (Loss) For the period (1,084,885) (12,892,537)
The accompanying notes form an Integral Part of these Financial Statements
Managing Director Director
Chartered Accountants
Dated : 16th November , 2021
Dhaka
THT-Space Electrical Company Ltd.
MS SFB-04,Uttara EPZ,Nilphamary
Statement of Changes in Equity
For the year ended 30 June 2021
Amount In Taka
Particular
Retainded
Capital Total Taka
Earnings
Opening Capital: 01 July 2020 100,000 (12,892,536) (12,792,536)
Add: Addition During the Period - - -
Add: Net Income/(Loss) - (1,084,885) (1,084,885)
Closing Capital: 30 June 2021 100,000 (13,977,421) (13,877,421)
Opening Capital: 01 July 2019 100,000 - 100,000
Add: Addition During the Period - - -
Add: Net Income/(Loss) - (12,892,536) (12,892,536)
Closing Capital: 30 June 2020 100,000 (12,892,536) (12,792,536)
Opening Capital: 01 July 2018 - - -
Add: Addition During the Period 100,000 - 100,000
Add: Net Income/(Loss) - - -
Closing Capital: 30 June 2019 100,000 - 100,000
THT-Space Electrical Company Ltd.
MS SFB-04,Uttara EPZ,Nilphamary
Statement of Cash Flows
For the year ended 30 June 2021
Amount (TK.) Amount (TK.)
Particulars 2021 2020
A. Cash Flow From Operating Activities:
Profit/(Loss) (1,084,885) (12,892,536)
Add: Net Adjustments for Non-Cash items 88,546 3,008,891
Fund From Operations Before changes in working capital (996,339) (9,883,645)
Decrease/(Increase) in Inventories (44,524,985) (17,565,788)
Decrease/(Increase) in Receivables - -
Decrease/(Increase) in loans, Advances and Finance (25,000) (6,517,300)
Decrease/(Increase) in Other Current Assets - -
Increase/(Decrease) in Payables 83,228,568 62,405,324
Increase/(Decrease) in Liabilities for Expenses 4,027,070 757,249
Net Cash Flow from Operating Activities 41,709,313 29,195,840
B. Cash Flow From Investing Activities:
Purchases of fixed Assets (14,385,567) (44,126,123)
Preliminery Expenses - -
Pre-operating Expenses 4,304,220 (7,254,962)
Net Cash Used in Investing activities (10,081,347) (51,381,085)
C. Cash Flow From Financing Activities:
Share Capital - -
Loan from Director - 22,567,343
Net Cash (Used)/Provide in Financing activities - 22,567,343
D. Increase/(Decrease) cash and cash equivalents (A+B+C) 31,627,966 382,098
E. Opening cash and cash equivalents 512,853 130,755
F. Closing cash and cash equivalents (E+D) 32,140,819 512,853
The annexed notes form an integral part of these financial statements.
THT-Space Electrical Company Ltd.
MS SFB-04,Uttara EPZ,Nilphamary
Notes to the Financial Statements
For the year ended 30 June 2021
BDT BDT
Notes Particulars
2021 2020
01.00 Property Plant & Equipment
Cost:
Opening balance 45,627,959 1,501,836
Add: Addition during the year 20,720,201 44,126,123
Less: Disposal during the year - -
Closing balance (A) 66,348,160 45,627,959
Depreciation:
Opening balance 3,001,820 -
Add: Charge for the year 6,334,634 3,001,820
Less: Adjustment during the year -
Closing balance (B) 9,336,454 3,001,820
Written down value (A-B) -
57,011,707 42,626,140
Details are in Annex A.
02.00 Preliminery Expenses
Company formation & etc. - 42,000
Conveyance - 1,507
Printing & Stationery - 15,050
License expenses - 25,000
Miscellaneous - 12,060
Less-Amortization - (7,071)
- 88,546
03.00 Pre-Operating Expenses
Factory Rent 10,164,270 7,557,656
Service Charges - 7,161
Insurancee premium for factrory building 360,203 395,118
Accomodation Charges 622,764 271,371
Land rent 18,900 -
Audit Fees 50,000 50,000
Bank Charges 16,486 575
Add- During the Year - 8,474,050
Less-Amortization - (1,219,088)
Total 11,232,623 15,536,843
04.00 Cash & Cash Equivalent
Cash in Hand 2,096 -
SCB 01130877903 51,512 32,441
SCB 01130877902 328,270 329,110
IBBL 1502 30,874,061 2,724
IBBL 4710 884,880 148,578
Total 32,140,819 512,853
05.00 Advances, Deposits & Pre-payements
Security Deposit for Electricity, Water & etc. 8,214,874 8,189,874
8,214,874 8,189,874
06.00 Liabilities for Expenses
Salaries 3,839,712 601,630
Automation Service bill 3,863 3,533
Electricty bill 732,225 1,015
Factory Rent 1,288,759 1,288,343
Resident Building 56,281 51,024
Water bill 18,695 7,790
Welfare Fund 12,600 8,400
MCTB 42,840 21,420
Land Rent 9,726 4,725
Environmental Laboratory Service Bill 10,248
Total 6,014,950 1,987,880
7.00 Revenue
Revenue for the period $ 1,843,677 * 84 BDT) 154,868,833 6,480,979
8.00 Cost Of Goods Sold
Opening Inventory 17,565,788 -
Import/purchaser During the period 148,956,687 22,902,088
Closing Inventory (62,090,773) (17,565,788)
104,431,702 5,336,300
9.00 Factory Overhead
Salary and Wages 19,426,991 2,075,090
Automation Service bill 36,772 8,246
Electricty bill 2,782,485 317,719
Factory Rent 3,866,277 2,706,394
MCTB(Medical) 313,425 44,982
Resident Building 312,515 107,151
Water bill 82,141 18,393
Environmental Laboratory Service Bill 12,110 -
Welfare fund 103,950 17,640
26,936,667 5,295,614
10.00 Adminstritive Expense
Salary and Wages 6,351,101 889,324
Automation Service bill 12,257 3,534
Electricty bill 927,495 136,165
Travelling & Conveyance 55,299 -
Dormatory Expenses 17,200 -
Advertisement expenses 53,000 -
Entertainment expenses 9,490 -
Printing & Stationary 3,680 -
Fuel Expenses 9,730 -
Office Maintenance 33,545 -
Courier Bill 4,727 -
Factory Rent 1,434,562 1,159,883
MCTB(Medical) 104,475 19,278
Resident Building 104,172 45,922
Legal Expenses 33,740 -
Insurance Premium 2,590 -
Water bill 27,380 7,883
Welfare fund 34,650 7,560
House Rent Allowence 124,563 72,480
Audit Fee 50,000 50,000
Bank Charge 48,683 -
VISA Fee 24,500 -
BEPZA dormatory cleaning bill 1,900 -
Internet bill 168,391 95,000
9,637,130 2,487,029
11.00 Import/Export Expense
C&F Expense 4,991,639 914,156
Transport Expense 3,426,439 1,097,660
8,418,078 2,011,816
Annex A
THT-Space Electrical Company Ltd.
Details of property, plant and equipment
For the period ended June 30, 2021
Amounts in BDT
Cost Depreciation
Written down
Balance at Adjustmen Total at Balance at Charge Adjustment
Particulars Additions Rate Total to value at 30 June
01 July t during 30 June 01 July for the during the
during the year (%) 30 June 2021 2021
2020 the year 2021 2020 year year
General:
Machineries 42,297,437 15,647,105 - 57,944,542 10 2,782,708 5,516,183 - 8,298,891 49,645,650
Air Conditioner 130,200 - - 130,200 10 8,566 12,163 - 20,729 109,471
Factory Equipment 1,932,511 3,825,360 - 5,757,871 10 127,138.05 563,073 - 690,211 5,067,660
Printer Machine with Accessories 1,267,812 1,247,736 - 2,515,548 10 83,408.14 243,214 - 326,622 2,188,926
Total at 30 June 2021 45,627,959 20,720,201 - 66,348,160 3,001,820 6,334,634 - 9,336,454 57,011,706
