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Carpet Importer Financial Statements

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Carpet Importer Financial Statements Powered By Docstoc
					CARPET IMPORTER
BALANCE SHEET
AS AT JUNE 30, 2012
ASSETS

NON-CURRENT ASSETS                           2012
                                     Note
                                            Rupees

Property, plant and equipment         1      3,421,995


CURRENT ASSETS

Trade debts                           2     21,385,590
Stock in trade                        9     39,628,800
Advances and other receivables        3     12,396,317
Cash and bank balances                4       721,963
                                            74,132,670

TOTAL ASSETS                                77,554,665

CAPITAL AND LIABILITIES

EQUITY


Proprietor's capital                  5      2,409,301



NON-CURRENT LIABILITIES
Long term loans                                      -

CURRENT LIABILITIES

Creditors accrued & other payables    6       580,596
Bank Loan & Overdraft                       74,540,799
Provision for taxation                7        23,969
                                            75,145,364
                                            77,554,665
CARPET IMPORTER
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED JUNE 30, 2012

                                              2012
                                      Note
                                             Rupees

Revenue                                8     206,221,384

Cost of sales                          9     191,018,997

Gross profit                                  15,202,387

Administrative and general expenses    10      3,993,202
Selling and distribution expenses      11        78,620
                                               4,071,822
Profit before interest and taxation           11,130,565

Finance cost                           12     10,810,979


Profit before taxation                          319,587

Taxation                               7         23,969

Net profit after taxation                       295,618    24,634.79



                                                              24,635




                                                           12317.3965
CARPET IMPORTER
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         537,820      26,900      564,720    10      53,782        51,094       104,876         459,844
    Office Equipment              834,269      16,080      850,349    10      83,427        76,692       160,119         690,230
    Vehicle                   3,549,876           -      3,549,876    20     709,975       567,980      1,277,955       2,271,921

                              4,921,965        42,980    4,964,945           847,184       695,766      1,542,950       3,421,995


2   TRADE DEBTS

                                                                                                                       21,385,590
    Unsecured

3   ADVANCES AND OTHER RECEIVABLES

    Advance to suppliers                                                                                               12,263,165
    Advance to employees                                                                                                  56,620
    Advance income tax                                                                                                    22,532
    Other receivables                                                                                                     54,000

                                                                                                                       12,396,317

4   CASH AND BANK BALANCES

          Bank                                                                                                           676,233
          Cash in hand                                                                                                    45,730

                                                                                                                         721,963

5   PROPRIETOR'S CAPITAL

          Capital at the beginning of the year                                                                          2,217,150

    Less: Drawings                                                                                                       103,466

    Add: Profit foe the period                                                                                           295,618

          Capital at the end of the year                                                                                2,409,301
CARPET IMPORTER
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2012
                                                       2012
                                               Note
                                                      Rupees

6    CREDITORS ACCRUED AND OTHER LIABILITIES

     Creditors                                           483,104
     Accrued expenses                                     91,191
     Other payables                                         6,300

                                                         580,596

7    TAXATION

     Provision for taxation                               23,969


8    REVENUE

     Sale                                             206,221,384


9    COST OF SALES


            Opening Stock                              19,452,860

     Add: Purchases                                   211,194,937

     Less: Closing Stock                               39,628,800

                                                      191,018,997

10   ADMINISTRATIVE AND GENERAL EXPENSES

     Salaries, wages & benefits                          987,652
     Electricity and power expenses                       65,520
     Telephone                                            41,124
     Traveling and conveyance                             41,112
     Repair and maintenance                               14,820
     Rent                                                152,400
     Entertainment                                       421,056
     Printing and stationery                              14,904
     International traveling                             461,008
     Export expenses                                     824,676
     Legal and professional charges                       35,000
     Audit fee                                            30,000
     Depreciation                                        695,766
     Miscellaneous                                       208,164

                                                        3,993,202

11   SELLING AND DISTRIBUTION EXPENSES


            Advertisement                                 78,620
                                                          78,620
CARPET IMPORTER
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2012

                                                                             2012
                                                                     Note
                                                                            Rupees

12   FINANCE COST

     Financial charges                                                      10,808,416
     Bank charges                                                                2,563

                                                                            10,810,979


13   NUMBER OF EMPLOYEES

     Number of permanent employees at the year end.                                  11


14   GENERAL

      14.1 The figures have been rounded off to the nearest Rupee.
CARPET IMPORTER
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2012




                                     #REF!
CARPET IMPORTER
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2012
                                     (27,080,473)
CARPET IMPORTER
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2012
CARPET IMPORTER
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED JUNE 30, 2012
 CARPET IMPORTER
 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
 CARPET IMPORTER
 NOTES TO THE FINANCIAL STATEMENTS
 FOR THE PERIOD ENDED JUNE 30, 2012
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




  295,618



   73,904
#REF!




#REF!         #REF!


0.374219499


    82,304     7,482.21




#REF!




332766.8275
#REF!
#REF!   #REF!




#REF!
        #REF!
                     -




        #REF!




        27,080,473

#REF!
(27,080,473)   #REF!
#REF!

#REF!

#REF!
15346598
7,756,491   8,899,687
83,427   750,842   75,084   675,758   67,576
         #REF!




                 0.926281228




82,304

 5,460

 3,427

 3,426

 1,235



35,088

 1,242




 2,917




17,347
#REF!   #REF!

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