Previous GAAP Pvt Ltd.
BALANCE SHEET
As at 31 Ashad 2081
Figures in Rs
Particulars Notes 31 Ashad 2081 31 Ashad 2080
Equity & Liability
Shareholders Fund
Share Capital 1 5,000,000.00 5,000,000.00
Reserve and Surplus 2 4,854,696.25 14,590,299.65
9,854,696.25 19,590,299.65
Loan Fund
Secured Loan 3 5,337,427.49 19,113,457.22
Unsecured Loan 4 - -
5,337,427.49 19,113,457.22
Current Liability & Provisions
Trade & Other Payables 5 19,100,551.37 27,020,651.79
Short Term Loan 6 23,808,209.41 6,318,251.79
Provisions 7 2,361,925.16 6,924,830.89
45,270,685.94 40,263,734.47
Total 60,462,809.69 78,967,491.34
ASSETS
Non-Current Assets
Property Plant & Equipment 8 3,782,273.19 4,580,207.60
Current Assets
Inventory 35,720,064.01 45,623,039.74
Cash & Cash Equivalent 9 724,544.31 1,368,488.86
Loan, advance and deposit 10 20,235,928.18 27,395,755.14
56,680,536.50 74,387,283.74
Total 60,462,809.69 78,967,491.34
Significant accounting policies and explanatory notes 16
Previous GAAP Pvt Ltd.
INCOME STATEMENT
For the year ended 31 Ashad 2081
Figures in Rs
Particulars Notes F.Y. 2080.81 F.Y. 2079.80
Income
Sales 11 123,001,673.00 198,553,074.86
Other Income 12 1,463,143.00 2,723,521.92
Total Income 124,464,816.00 201,276,596.78
Less:
Cost of Goods Sold 13 101,905,798.73 164,742,008.83
Gross Profit 22,559,017.27 36,534,587.95
Less:
Operating Expenses 14 8,560,422.75 8,618,646.03
Selling Expenses 15 2,274,983.84 4,245,435.45
Profit / (Loss) from operation 11,723,610.68 23,670,506.47
Less:
Finance Cost 4,124,103.77 1,684,298.88
Profit / (Loss) before depreciation & bonus 7,599,506.91 21,986,207.59
Less:
Depreciation 8 797,934.41 703,255.05
Staff bonus 680,157.24 2,128,466.43
Profit / (Loss) before tax 6,121,415.25 19,154,486.11
Less:
Income Tax Provision 1,702,770.00 4,796,364.46
Profit/(Loss) transferred to balance sheet 4,418,645.25 14,358,121.65
(4,418,645.25) (14,358,121.65)
Significant accounting policies and explanatory notes
16
Previous GAAP Pvt. Ltd
STATEMENT OF CHANGES IN EQUITY
For the year ended 31 Ashad, 2081
Figures in Rs
Advance Against
Particulars Share Capital Retained Earnigs Total
Share Capital
Balance as at 32 Ashad, 2079 5,000,000.00 14,590,300 - 19,590,300
Advance against share capital
Changes in Accounting Policy - - - -
Restated Balance 5,000,000.00 14,590,300 - 19,590,300
Net Profit /(Loss) for the Year 4,418,645 - 4,418,645
Dividend Paid (14,154,249) (14,154,249)
Advance against share capital
Balance as at 31 Ashad, 2080 5,000,000.00 4,854,696 - 9,854,696
Significant accounting policies and explanatory notes 16
Previous GAAP Pvt. Ltd.
Schedule forming an integral part of financial statements for the financial year 2080-81
Figures in Rs.
Particulars Notes 31 Ashad 2081 32 Ashad 2080
SHARE CAPITAL 1
Authorised Share Capital
100,000 ordinary shares of Rs. 100/- each. 10,000,000.00 10,000,000.00
Issued Capital
50000 ordinary shares of Rs. 100/- each 5,000,000.00 5,000,000.00
Paid-up Capital
50000 ordinary shares of Rs. 100/- each 5,000,000.00 5,000,000.00
Total 5,000,000.00 5,000,000.00
RESERVE & SURPLUS 2
Profit/ ( Loss ) up to last year 14,590,299.65 232,178.00
Dividend Paid (14,154,248.65)
Profit/ ( Loss ) of the year 4,418,645.25 14,358,121.65
Total 4,854,696.25 14,590,299.65
SECURE LOAN 3
Hire Purchase Loan 504,094.17 1,113,457.22
Term Loan 4,833,333.32 18,000,000.00
Total 5,337,427.49 19,113,457.22
UNSECURED LOAN 4
Total - -
TRADE & OTHER PAYABLES 5
Sundry Creditors 17,823,902.51 24,662,295.74
Duties & Taxes 511,868.14 598,237.25
Audit Fee Payable 98,500.00 98,500.00
Interest Payable 184,199.77 132,223.09
Advance from Customers 482,080.95 1,529,395.71
Total 19,100,551.37 27,020,651.79
Short Term Loan 6
Bank Overdraft 21,051,966.95 1,526,341.34
Import Loan 2,756,242.46 4,791,910.45
23,808,209.41 6,318,251.79
Provisions 7
Income Tax Payable 1,681,767.92 4,796,364.46
Staff Bonus Provision 680,157.24 2,128,466.43
2,361,925.16 6,924,830.89
CASH AND CASH EQUIVALENT 9
Cash in Hand 71,545.53 258,727.37
Cash at Bank 652,998.78 1,109,761.49
Total 724,544.31 1,368,488.86
LOAN, ADVANCE AND DEPOSITS 10
Sundry Debtors 16,780,629.92 19,401,595.77
Other Receivables - -
Advance Income Tax 2,309,848.00 6,414,949.85
Deposits Receivables 131,058.00 358,741.25
Advance to Suppliers 88,000.00 288,000.58
Other Advance 800,000.00 800,000.00
Prepaid Expenses 126,392.26 132,467.69
Total 20,235,928.18 27,395,755.14
Income 11
Sales 123,001,673.00 198,553,074.86
123,001,673.00 198,553,074.86
Other Income 12
Commission Income 1,463,143.00 2,702,314.00
Interest Income - -
Miscellaneous Income - 21,207.92
1,463,143.00 2,723,521.92
Cost of Goods Sold
13
Opening Stock 45,623,039.74 30,237,052.57
Purchase 88,577,077.00 169,084,851.00
Carriage Inward 353,361.00 1,287,451.00
Custom Duties 2,567,142.00 7,762,913.00
Freight and Insurance 505,243.00 1,992,781.00
Closing Stock (35,720,064.01) (45,623,039.74)
101,905,798.73 164,742,008.83
Administrative Expenses 14
Salary Expenses 4,257,500.00 3,991,750.00
Audit Fee Expenses 100,000.00 100,000.00
Bank Charge & Commision 164,111.29 181,521.29
Miscellaneous Expenses - 126,555.00
Fuel & Parking Expenses 312,396.00 206,729.00
Legal Fee 35,295.00 47,264.71
Insurance Expenses 212,756.05 145,094.16
Internet Expenses 23,460.40 21,420.89
Consumables - 75,472.35
Annual Maintence Charge Expenses 12,500.00 12,500.00
Loan Processing Expenses - 82,800.00
Travelling Expenses - 52,800.00
Printing & Sationery Expenses 119,778.28 20,586.18
Electrical & Office Supplies - 30,000.00
Electricity Expenses 19,095.00 117,160.00
Fine & Penalties 8,407.00 122,695.90
Registration and Renewal Fee 25,500.00 186,759.00
Donation Expenses 1,100.00 -
Tiffin Expenses 179,726.67 150,615.50
Renewal Fee 132,719.06 67,200.00
Rent Expenses 2,646,000.00 2,646,000.00
Repair & Maintenance Expenses 24,605.97 50,256.96
Telephone Expenses 49,194.59 51,727.09
Water & Electricity 167,945.00 131,738.00
Other Office Expenses 68,332.44 -
8,560,422.75 8,618,646.03
SELLING EXPENSES 15
Carriage Outward Expenses 1,239,332.40 1,872,071.79
Loading/Unloading Expenses 147,436.00 452,995.00
Commision Expenses 888,215.44 1,920,368.66
2,274,983.84 4,245,435.45
Previous GAAP Pvt. Ltd
Property, Plant & Equipment 8
Depn. Depn base as Allowable Disposal Depn base Depreciation Balance Unabsorbed Unabsorbed Depn base For
Particulars
Rate on 01-04-2071 Addition During the year for the year for the year Addition Repair & Maint. Next Year
Block A (Permanent Structure)
Shade 5.00%
Block B ( Computer & Office Equipment) 25.00%
Computer & Office Equipment 554,118 - 554,118 138,529 415,588 - 415,588
Furniture & Fixtures 1,133,365 - 1,133,365 283,341 850,024 - 850,024
Block C (Automobiles) 20.00% 1,464,075 - - 1,464,075 292,815 1,171,260 1,171,260
Block D (Other Assets) 15.00% -
Other Fixed Assets 125,652 - - 125,652 25,130 100,522 - 100,522
Block E (Leasehold Assets) 1,302,998 - - 1,302,998 58,118 1,244,879 - 1,244,879
Total : 4,580,208 - - 4,580,208 797,934 3,782,273 - - 3,782,273
Computation of allowable additions of fixed assets during the year
Addition during the Year Total Allowable Unabsorbed
Particulars From 01-04-80 From 01-10-80 From 01-01-81 Addition Addition Addition
up to 29-09-80 up to 30-12-80 up to 31-03-81
Block A (Permanent Structure) - - -
Block B (Furniture/Office Equipment)
Computer and Office Equipment - -
Furnitures - -
Block C (Automobiles, Trucks) - -
- -
Block D (Other Fixed Assets) - -
Other Fixed Assets - -
Block E (Leasehold Assets) - -
Total - - - - - -
