M. M. Rahman Co.
Chartered Accountants
M/S Akhter Chicks & Feed Center
Statement of Financial Position
As at 31 December 2018
Notes Amount in Taka Amount in Taka
Assets 2018 2017
Non-Current Assets 28,051,640 28,502,230
Property, Plant and Equipment 28,051,640 28,502,230
Annex 1
Land
Current Assets 43,407,866 36,915,892
Inventories 2 19,278,380 17,525,800
Advance, Deposit & Prepayments 1 2,142,900 2,381,000
Trade Receivable 21,460,032 16,507,717
Cash and Cash Equivalents 3 526,554 501,375
Total Assets 71,459,506 65,418,122
Shareholders Equity and Liabilities
Equity 64,085,593 58,814,928
Capital 5,000,000 5,000,000
Other Reserve
Retained Earnings 4 59,085,593 53,814,928
Loan From Bank 6,823,509 5,997,394
Bank Loan 6,823,509 5,997,394
Current Liabilities 550,404 605,800
Bills Payable 500,000 410,000
Other Liabilities 33,024 180,000
Liabilities for Expenses 17,380 15,800
Total Equity and Liabilities 71,459,506 65,418,122
- -
Proprietor
Dhaka
Date Chartered Accountants
M. M. Rahman Co.
Chartered Accountants
M/S Akhter Chicks & Feed Center
Statement of Comprehensive Income
For the year ended 31 December, 2018
Notes Amount in Taka Amount in Taka
PARTICULARS 2018 2017
Turnover 84,538,629 75,480,919
Cost of Sales 5 65,537,423 59,609,300
Gross Profit 19,001,206 15,871,619
Operating Expenses 4,718,941 4,890,686
Administrative Expenses 6 4,718,941 4,890,686
Operating profit/ ( Loss) 14,282,265 10,980,933
Other Income - -
Profit Before Interest & Tax 14,282,265 10,980,933
Financial expenses 822,600 747,818
Profit Before tax 13,459,665 10,233,115
Taxation 189,000 180,000
Net Profit 13,270,665 10,053,115
Proprietor
Dhaka
Date Chartered Accountants
M. M. Rahman Co.
Chartered Accountants
Continuation Sheet MAKC
M/S Akhter Chicks & Feed Center
Statement of Cash flow
For the year ended 31 December, 2018
Amount in Taka
2018
1. CASH FLOW FROM OPERATING ACTIVITIES:
Net Profit 13,270,665
Add - Depreciation 450,590
Add - Interest 822,600
(Increase)/ Decrease in Ending Inventories (1,752,580)
(Increase)/ Decrease in Advances, deposits & Prepayments 238,100
(Increase)/ Decrease in Accounts Receivable (4,952,315)
Increase/ (Decrease) in Liabilities for expense 1,580
Increase/ (Decrease) in Payables 90,000
Increase/ (Decrease) in Other Liabilities (146,976)
Prior Year Adjustment
Increase/ (Decrease) in Audit Fees -
Net Cash Generated from Operating Activities 8,021,664
2. CASH FLOW FROM INVESTING ACTIVITIES:
Acquisition of Fixed Assets
Other Investments
Net Cash In/ Outflow from Investing Activities -
3. CASH FLOW FROM FINANCIAL ACTIVITIES:
Short Term Loan 826,115
Drawings/ New Capital (8,000,000)
Interest Expense (822,600)
Net Cash In/ Outflow from Financial Activities (7,996,485)
Net Cash Increase/ (Decrease) During the Year 25,179
Opening Cash & Bank Balance 501,375
Closing Cash & Bank Balance 526,554
M. M. Rahman Co.
Chartered Accountants
Amount in Taka Amount in Taka
2018 2017
Note - 1 Advance, Deposit & Prepayments
Loan & Advance 2,142,900 2,381,000
Advance Salary to Staff -
2,142,900 2,381,000
Note - 2 Inventories/ Closing Stock
Raw Materials 19,278,380 17,525,800
Work in process - -
Finished Goods - -
19,278,380 17,525,800
Note - 3 Cash & Cash Equivalent
Cash in Hand 525,000 500,000
Cash at Bank 1,554 1,375
526,554 501,375
Note - 4 Retained Earnings
As Per last Year Balance 53,814,928 50,761,813
Add - Current Year's Net Profit 13,270,665 10,053,115
Less - Drawings 8,000,000 7,000,000
59,085,593 53,814,928
Note - 5 Cost of Goods Sold
Opening Stock of Raw Material 17,525,800 17,054,740
Purchase 67,290,003 60,080,360
84,815,803 77,135,100
Less - Closing Stock of Raw Material 19,278,380 17,525,800
Cost of Sales 65,537,423 59,609,300
Note 6 Administrative Expense
Salaries, Office staff 2,284,524 2,115,300
Bonus 389,340 360,500
Loading & Unloading 142,020 131,500
Legal & Professional 10,800 10,000
Travelling & Conveyance 440,856 408,200
Office Expense 231,358 214,220
Carrying Charge 222,242 205,780
Stationery 47,768 44,230
Carrying Charge 206,647 191,340
Bank Charges 13,759 12,740
Workers Fooding 123,584 114,430
Telephone 113,767 105,340
License 26,762 24,780
Utility 62,381 57,760
Entertainment 110,786 102,580
Misc. Expenses 292,345 270,690
Depreciation - 521,296
4,718,941 4,890,686
M. M. Rahman Co.
Chartered Accountants
Annex 1
M/S Akhter Chicks & Feed Center
Schedule of Fixed Assets as at 31 December, 2018
SL Particulars Addition Depreciation WDV
Balance as on Addition Balance as on Rate Charged Balance as on Balance as on
01.01.18 31.12.2018 31.12.2018 31.12.2018
1 Land 25,000,000 25,000,000 - 25,000,000
2 Furniture & Fixture 770,859 770,859 10% 77,086 77,086 693,773
3 Centering tools 1,721,301 1,721,301 15% 258,195 258,195 1,463,106
4 Motor cycles 117,760 117,760 20% 23,552 23,552 94,208
5 Office Equipments 841,798 841,798 10% 84,180 84,180 757,618
6 Computers 50,512 - 50,512 15% 7,577 7,577 42,935
Total Taka 28,502,230 - 28,502,230 450,590 450,590 28,051,640
