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Trading Business Financial Statements

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					THE TRADING COMPANY
BALANCE SHEET
AS AT JUNE 30, 2012
ASSETS

NON-CURRENT ASSETS                           2012
                                     Note
                                            Rupees

Property, plant and equipment         1       709,398
Long term deposits                    2        70,000

                                              779,398

CURRENT ASSETS

Trade debts                           3     24,439,698
Stock in trade                       10     35,076,534
Advances and other receivables        4       631,905
Cash and bank balances                5       299,616
                                            60,447,753

TOTAL ASSETS                                61,227,151

CAPITAL AND LIABILITIES

EQUITY


Partner's capital                     6      3,591,146



NON-CURRENT LIABILITIES
Long term loans                                      -

CURRENT LIABILITIES

Creditors accrued & other payables    7       564,563
Bank Loan & Overdraft                       54,373,570
Provision for taxation                8      2,697,873
                                            57,636,006
                                            61,227,151
THE TRADING COMPANY
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED JUNE 30, 2012

                                              2012
                                      Note
                                             Rupees

Sales                                  9     28,677,629

Cost of sales                          10     4,229,997

Gross profit                                 24,447,631

Administrative and general expenses    11     2,728,252
Selling and distribution expenses      12      136,398
                                              2,864,650
Profit before interest and taxation          21,582,982

Finance cost                           13            -


Profit before taxation                       21,582,982

Taxation                               8      2,697,873

Net profit after taxation                    18,885,109   1,573,759.09



                                                            1,573,759
Profit Distribution as under


Partner 1                             30%     5,665,533

Partner 2                             70%    13,219,576

                                             18,885,109


                                                          786879.5452
THE TRADING COMPANY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2012

                                                                                                                   2012
                                                                                                   Note
                                                                                                                  Rupees

1   PROPERTY, PLANT AND EQUIPMENT

                                          Cost                                    Depreciation
                                                                                                                Written down
                             As at                    As at             As at     For the year /    As at
                                                                                                                 value as at
    Particulars             July 01,   Additions/    June 30,   Rate   July 01,                    June 30,     June 30, 2012
                             2011      (deletion)     2012              2011      (adjustment)        2012
                                        Rupees                   %                           Rupees

    Furniture and fixture    750,000         -        750,000    10      75,000        67,500         142,500        607,500
    Office Equipment         125,800         -        125,800    10      12,580        11,322          23,902        101,898

                             875,800             -    875,800            87,580        78,822         166,402        709,398

2   LONG TERM DEPOSITS

    Security deposit                                                                  2.1                             70,000

                                                                                                                      70,000

     2.1 This amount represents security deposits paid to WAPDA for the installation of electricity
         connection and to PTCL against telephone connection.

3   TRADE DEBTS

                                                                                                                  24,439,698
    Unsecured

4   ADVANCES AND OTHER RECEIVABLES

    Advances to suppliers                                                                                            600,000
    Advance to employees                                                                                              11,800
    Advance income tax                                                                                                18,972
    Other receivables                                                                                                  1,133

                                                                                                                     631,905

5   Cash and bank balances

          Bank                                                                                                       251,605
          Cash in hand                                                                                                48,011

                                                                                                                     299,616
THE TRADING COMPANY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2012

                                                               2012        2012
                                                      Note
                                                             Rupees       Rupees


6    PARTNER'S CAPITAL


     Partner 1
                              Opening balance                13,597,377

                  Less:       Drawings                        1,416,383

                  Add:        Profit for the period           5,665,533

                                                             17,846,526   17,846,526

     Partner 2
                              Opening balance                31,727,212

                  Less:       Drawings                        3,304,894

                  Add:        Profit for the period          13,219,576

                                                             41,641,895   41,641,895

                              Total capital                               59,488,421

7    CREDITORS ACCRUED AND OTHER LIABILITIES

     Creditors                                                              349,260
     Accrued expenses                                                       165,303
     Other payables                                                          50,000

                                                                            564,563

8    TAXATION

     Provision for taxation                                                2,697,873

9    REVENUE

     Sales                                                                28,677,629

10   COST OF SALES

     Opening Stock                                                        11,692,178

Add: Purchases                                                            27,614,354

Less: Closing Stock                                                       35,076,534
                                                                           4,229,997
THE TRADING COMPANY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2012
                                                                             2012
                                                                     Note
                                                                            Rupees

11   ADMINISTRATIVE AND GENERAL EXPENSES

     Salaries, wages & benefits                                              1,740,000
     Electricity and power expenses                                           158,245
     Telephone                                                                 85,390
     Traveling and conveyance                                                 306,312
     Repair and maintenance                                                    52,675
     Mobile phone                                                              31,875
     Entertainment                                                             97,500
     Printing and stationery                                                   31,896
     Postage                                                                    1,253
     Legal and professional charges                                            30,000
     Audit fee                                                                 25,000
     Depreciation                                                              78,822
     Donations                                                                  7,000
     Miscellaneous                                                             82,284

                                                                             2,728,252

12   SELLING AND DISTRIBUTION EXPENSES

           Fuel                                                                27,308
           Advertisement                                                       22,090
           Signage                                                             87,000
                                                                              136,398

13   FINANCE COST

     Financial charges                                                              -
     Bank charges                                                                   793

                                                                                    793


14   NUMBER OF EMPLOYEES

     Number of permanent employees at the year end.                                     12


15   GENERAL

      15.1 The figures have been rounded off to the nearest Rupee.
THE TRADING COMPANY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2012
THE TRADING COMPANY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2012




                                     #REF!

                                     (27,206
THE TRADING COMPANY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2012
THE TRADING COMPANY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2012
THE TRADING COMPANY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2012
THE TRADING COMPANY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2012
 THE TRADING COMPANY
 NOTES TO THE FINANCIAL STATEMENTS
 FOR THE PERIOD ENDED JUNE 30, 2012




                                                               DIRECTOR
       CHIEF EXECUTIVE
                                                               302,276,946
Raw Material Consumed                     18.1           -       4,310,942
Packing Material Consumed                 18.2           -      21,879,895
Salaries, Wages & Benefits                18.3    32,765,575     4,009,359
Stores, Spares and Loose Tools Consumed   18.4    11,726,528    43,990,707
Fuel & Power                                      49,822,130        98,771
Postage, Telegram and Telephone                      118,290        47,289
Traveling & Conveyance                               415,003       543,421
Insurance                                            719,023           -
Entertainment                                        138,774       453,715
Other Factory Overheads                            1,211,712    14,478,435   1,143,196
Depreciation                              #REF!   #REF!
 2011
Rupees
45,324,589
18,885,109

 4,721,277

 3,591,146     59,488,421

(55,897,275)
#REF!




#REF!
#REF!   #REF!




#REF!
        #REF!
-
               #REF!




               27,206,353

#REF!

(27,206,353)                #REF!
#REF!

#REF!

#REF!
15346598
7,756,491   8,899,687
12,580   113,220   11,322   101,898   10,190
          #REF!




145,000

 13,187

  7,116

 25,526

  4,390

  2,656

  8,125

  2,658



  2,500




  2,083

  6,857

				
DOCUMENT INFO
Description: Financial Statements including Balance Sheet, Profit & Loss and Notes.