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Hussain Farhad & Co.

HFC

Chartered Accountants

Note: 2.00
Property, Plant and Equipment : As at 29th February, 2012.
Amount in Taka
Cost
Particulars
Plant & Machinery
Boiler Machine
Furnace Machine
Air Compressor
Electrical Installation
Tin Shed
Furniture & Fixtures
Diesel Generator (New)
Diesel Tank (New)
Computer & Allied
Office Equipment
Gazi Tank
Welding Machine
Water Purification system
Decoration(Shaving Cream)
Car (Motor Vehicle)
Internet Tower
Total
As at 31st January-2012

Balance as
on 01.02.12
56,300,816
1,175,000
1,095,004
2,070,915
15,614,274
330,000
3,746,726
13,636,325
212,000
2,008,417
2,644,807
43,500
66,565
769,399
889,197
1,886,985
37,500
102,527,430
100,629,630

Addition
1,536,226
1,536,226
1,897,800

Depreciation

Disposal/
Adjustment
-

Balance as on
29.02.12

Balance as
on 01.02.12

56,300,816
1,175,000
2,631,230
2,070,915
15,614,274
330,000
3,746,726
13,636,325
212,000
2,008,417
2,644,807
43,500
66,565
769,399
889,197
1,886,985
37,500
104,063,657
102,527,430

21,378,407
19,582
166,919
5,112,312
32,034
581,763
2,319,261
212,000
1,080,515
503,045
1,611
37,832
14,820
957,275
27,363
32,444,740
31,295,748

Cost of Production (Plant & Machinery, Electrical Installation & Equipment)


Office and Administrative Expense (Funiture, Computer, Office Equipment,Car, Internet Tower)
Total

Page # 06

Rate Dep. during


Adjusment
p.a. this month
20%
20%
0%
20%
20%
20%
10%
20%
20%
30%
20%
15%
20%
20%
20%
20%
20%

582,040
19,257
31,733
175,033
4,966
26,375
188,618
23,198
35,696
524
12,193
15,495
169
1,115,296
1,148,992

1,014,138
112,321
1,126,460

(2,646)
1,452
1,085
5,983
169
(4,720)
6,448
1,204
1,221
13
417
530
6
11,164
-

Balance as
on 29.02.12
21,957,801
40,291
199,737
5,293,328
37,169
603,419
2,514,327
212,000
1,104,916
539,962
2,148
50,443
14,820
973,301
27,538
33,571,200
32,444,740

W.D.V. as on
29.02.12
34,343,015.13
1,134,708.67
2,631,230.27
1,871,178.38
10,320,945.30
292,831.14
3,143,307.48
11,121,998.15
903,500.83
2,104,844.54
41,351.95
66,565.00
718,956.48
874,377.05
913,684.19
9,962.39
70,492,456.97
70,082,690.36

Graphical presentation of profitability


Sales

29-Feb-12
51,192.14

Local Sales
Item
Dollar
VBPL (Vidyut 5+1)
Viduyt Safety Razor
Vidyut Titanium
Shavinng cream
Viduyt Super
Viduyt Super Platinum
Zorrik Super Platinum
SUB TOTAL
Export Sales
Safety Razor
Shaving Cream
Zorrik Super
SUB TOTAL
GRAND TOTAL

Net Sales
7,145,982
214,493
141,048
9,789,151
16,842,300
34,132,974

2-Feb
VAT
295,847
5,019
53,352
369,944
707,700
1,431,862

8,358,362.00
7,268,940.00
15,627,302.00
49,760,276

Total Sales
7,441,829
219,512
194,400
10,159,095
17,550,000
35,564,836

Net Sales
10,233,396

2-Feb
-

8,358,362
7,268,940
15,627,302

8,481,832.00
8,481,832.00

1,431,862

51,192,138

40,385,970

238,723
668,673
11,680,846
9,082,500
31,904,138

2-Jan
VAT
422,604
252,927
440,643
367,500
1,483,674

Total Sales
10,656,000
238,723
921,600
12,121,489
9,450,000
33,387,812

2-Jan
1,483,674

8,481,832
8,481,832
41,869,644

HUSSAIN FARHAD & CO.

HFC

Chartered Accountants
VIDYUT BANGLADESH PRIVATE LIMITED
Statement of Financial Position
th
As at 29 February, 2012

Particulars

Notes

Amount in Taka
29-Feb-12
31-Jan-11

PROPERTY AND ASSETS:


Non-Current Assets:
Property,Plant & Equipment

2.00

70,492,457
70,492,457

70,082,690
70,082,690

Current Assets:
Short-term Investment
Inventories
Trade & other Receivables
Advances, Deposits and Prepayments
Interest Receivable
Cash and Cash Equivalents

3.00
4.00
16.00
5.00
6.00
7.00

95,425,535
11,544,382
26,302,025
20,760,099
36,269,974
800,856
(251,801)

87,671,600
11,544,382
21,863,274
43,460,114
688,796
10,115,034

TOTAL ASSETS

165,917,992

157,754,291

SHAREHOLDERS' EQUITY AND LIABILITIES:


Shareholders' Equity:
Share Capital
Retained Earnings

8.00

Current Liabilities:
Trade and Other Payables
Advance from sales
Unsecured loan
Liabilities for Expenses

17.00
16.00
18.00
9.00

TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES

88,982,940
37,191,200
51,791,740
(6,551,881)
76,935,052
48,147,653
2,200,557
26,586,842
165,917,992
(0.33)

The accompanying notes 1 to 17 form an integral part of these financial statements

Page 1

86,108,781.01
37,191,200.00
48,917,581.01

#REF!
#REF!
8,324,514
26,496,868
#REF!

HUSSAIN FARHAD & CO.

HFC

Chartered Accountants
VIDYUT BANGLADESH PRIVATE LIMITED
Statement of Comprehensive Income
For the month of February, 2012

Particulars

Notes

GROSS TURNOVER10.00
Less: Value Added Tax
(140,575,147)
(140,575,145)
COST OF GOODS SOLD
11.00
GROSS PROFIT/(LOSS)

Feb-12

Amount in Taka
Jan-11
Up to Feb-2012

51,192,138
1,431,862
49,760,276

41,869,644
1,483,674
40,385,970

93,061,782
2,915,536
90,146,246

40,113,231
9,647,045.38

32,060,571
8,325,399

72,173,802
17,972,444

Operating Expenses
6,908,095.92
Administrative Expenses
12.00
3,799,856.92
Selling and Distribution
13.00
Expenses3,108,239.00
PROFIT/(LOSS) FROM OPERATIONS
2,738,949

8,524,097
4,214,671
4,309,426
(198,698)

15,432,193
8,014,528
7,417,665
2,540,251

Other Income
14.00
135,060
NET PROFIT/(LOSS) BEFORE TAX
2,874,009

2,111,260
1,912,562

2,246,320
4,786,571

Provision for Income Tax


NET PROFIT/(LOSS) AFTER TAX
2,874,009.46
-281150292.6

1,912,562

4,786,571

5.14

12.87

Earnings Per Share (EPS)

7.73

Ratio:
PROFIT/(LOSS) FROM OPERATIONS
Feb-12
Gross Profit /(Loss) %
19.39
Net Profit /(Loss) % before tax
5.78
Net Profit /(Loss) % after tax
5.78

Jan-11
20.61
4.74
4.74

Up to Feb-2012
19.94
5.31
5.31

The accompanying notes 1 to 17 form an integral part of these financial statements

Page 2

HUSSAIN FARHAD & CO.

HFC

Chartered Accountants
VIDYUT BANGLADESH PRIVATE LIMITED
Statement of Changes in Equity
For the month of February, 2012

Particulars

Notes

Balance as at 1st Feb, 2012


Net profit/(Loss) for the month of December, 2011
Prior period Adjustment
Balance as at 31 st January, 2012
Net profit/(Loss) for the month of January, 2012
Prior period Adjustment
th

Balance as at 29 February, 2012

Page 3

15.00

15.00

Share
Capital
37,191,200
37,191,200
37,191,200

Amount in Taka
Retained
Total
Earnings
87,068,542
49,877,342
1,910,664
1,910,664
(2,870,425)
(2,870,425)
48,917,581
86,108,781
2,874,009
2,874,009
150
150
51,791,740
88,982,940

HUSSAIN FARHAD & CO.

HFC

Chartered Accountants
VIDYUT BANGLADESH PRIVATE LIMITED
Statement of Cash Flows
For the month of February, 2012

Particulars

February-12

A) Cash Flow From Operating Activities:


Net Profit / (Loss)

Amount in Taka
January-11

2,874,009

1,910,664

1,115,296
11,164
150
4,000,619

1,148,992
(2,870,425)
189,231

(18,120,770)
95,677,336
77,556,566

(9,705,305)
77,556,566
67,851,261

Increase /( Decrease ) in Current Liabilities:


Current
Previous

#REF!
76,935,052
#REF!

#REF!
#REF!
57,499,336

Net cash provided / (used) by Operating Activities

#REF!

#REF!

B) Cash Flow From Investing Activities:


(Acquisition) of Non current assets
Disposal of Non current assets
Net cash ( used ) / provided by investing activities

(1,536,226)
(1,536,226)

(1,897,800)
(1,897,800)

Adjustments for:
Depreciation
Adjustment
Prior Period Adjustments

(Increase) / Decrease in Current Assets:


Current
Previous

C) Cash Flow From Financing Activities:


Net cash ( used ) / provided by financing activities
Net increase/ (decrease) in cash and cash equivalents
Add: Cash and cash equivalents at beginning of month
Cash and cash equivalents at end of month

#REF!
#REF!
#REF!
#REF!
(251,801)

Page 4

#REF!
7,382,734
#REF!
#REF!

HUSSAIN FARHAD & CO.

HFC

Chartered Accountants
VIDYUT BANGLADESH PRIVATE LIMITED
Notes to the Financial Statements
For the month of February, 2012

1.00 SIGNIFICANT ACCOUNTING POLICIES AND OTHER MATERIAL INFORMATION:


1.01 Company profile:
Vidyut Bangladesh Private Ltd. was incorporated on 4th August, 2004 vide registration no C53783(448)/2004 under the Companies Act, 1994.
1.02 Nature of business:
The company has been incorporated with the main objective of conducting the business of manufacturing
safety razor blades and allied shaving products including the manufacturing and process control of steel.
]

1.03 Basis of accounting:


The Financial Statements have been prepared on a going concern basis under historical cost
convention using accrual method of accounting and in accordance with the International
Financial Reporting Standards (IFRS) as adopted by The Institute of Chartered Accountants of
Bangladesh.
1.04 Basis of Preparation and Measurement:
Following are the accounting policies related to the preparation of the financial statements, which are
material and critical in determining the companys result of operations for the period under review.

Going Concern
Accural
Prudent

Fixed Assets:

The cost of acquisition of an asset comprises its purchase price and any directly attributable cost of
bringing the asset to its present working condition for its intended use inclusive of inward freight, duties,
and non- refundable taxes.

Depreciation:

Depreciation has been charged at reducing balance method on a consistent basis at rates
ranging between 5% - 30%.
1.05 Reporting currency and level of precision:
The figures in the Financial Statements represents Bangladeshi Taka (BDT) currency which
have been rounded off to the nearest taka.
1.06 Reporting period:
Financial Statements of the company cover the period from 1st Astugust, 2011 to 31st August,
2011.

Page 5

HUSSAIN FARHAD & CO.

HFC

Chartered Accountants
Note: 3.00: Short-term Investment:
Particulars
F D R # 03933000083
F D R # 0046147/11095
F D R # 0048157/11105
Total

Opening
10,302,750
1,241,632
11,544,382

Adjustment
-

Amount in Taka
Closing
10,302,750
1,241,632
11,544,382

February-12
2,658,145
1,528,375
1,983,100
6,928,929
3,080,127
10,033,749
89,600
26,302,025

Amount in Taka
January-11
5,954,540.63
1,210,778.12
1,945,296.40
3,010,192.45
9,652,866.13
89,600.30
21,863,274

Addition
543,321
1,051,342
1,150,000
5,000
1,196,813
1,550,010
165,000
5,661,486

Adjustment
493,730
4,871,874
1,499,451
4,220,889
1,045,932
719,751
12,851,627

Amount in Taka
Closing
229,627.99
(287,513.51)
7,915,446.37
900,228.00
522,950.00
2,285,485.00
9,065,509.58
1,749,929.00
6,212,692.06
1,118,619.57
6,557,000.00
36,269,974

Addition

Adjustment

Amount in Taka
Closing

Addition
-

Note: 4.00: Inventories:


Particulars
Finished goods
W.I.P
Shavimg cram Raw Materials
Raw materials steel
Packing materials
Consumable materials
Polypropylene
Total

(0)

Note: 5.00: Advance, Deposits & Prepayments:


Particulars
Notes
Opening
Advance against Expenses
180,037
L/C Margin
5.01
4,584,360
VAT on Purchase
8,363,555
Licence Fees Advance
900,228
Prepaid Sales Promotion
522,950
Duty draw back receivable
1,135,485
Loan TSPL
13,281,399
Deferred Expenses
2,795,861
Prepaid Crem Project Expenses
AIT
5,015,879
Prepaid Insurance
288,360
Security Depsosit
5.02
6,392,000
Total
43,460,114
Note: 5.01: L/C Margin
Particulars
Margin with Bank Asia:
L/C # 10263
L/C # 10009
L/C # 579
L/C # 10272
L/C # 10291
L/C # 10298
L/C # 10345
L/C # 10436
L/C # 20126
L/C # 20127
L/C # 238
L/C # 10347
L/C # 10346
L/C # 10604

Note: 5.02: Security Deposit:


Particulars
Brac BD Net
Blue-Bonnet Limited
BTTB
Gulshan House
New Factory

Opening
68,440
(3,315)
27,933
412,254
16,487
1,201,626
20,497
(676,228)
2,896,609
506,971
109,800
3,287
4,584,360

Opening
20,000
12,000
240,000
6,120,000
6,392,000

Page 6

Addition
165,000
165,000

1,201,626
773,640
2,896,609
4,871,874

Adjustment
-

68,440
(3,315)
27,933
412,254
16,487
(753,143)
(676,228)
506,971
109,800
3,287
(287,514)
Amount in Taka
Balance
20,000
165,000
12,000
240,000
6,120,000
6,557,000

HUSSAIN FARHAD & CO.

HFC

Chartered Accountants
Note: 6.00
Interest Receivable:
Particulars
Interest Receivable (FDR)
Total

Opening
688,796
688,796

Note: 7.00
Cash and Cash Equivalents:
Particulars
Cash in Hand
Cash at Bank
Total

Addition
112,060
112,060

Adjustment
-

Amount in Taka
February-12
January-11
1,302
1,302
7.01
(253,102)
10,113,732
(251,801)
10,115,034

Notes

Note: 7.01
Cash at Bank:

Amount in Taka
February-12
January-11
(709,286)
11,463,530
107
107
375,278
(1,512,108)
80,799
162,204
(253,102.05)
10,113,732

Particulars
Arab Bangladesh Bank Ltd.
Bank Asia # 7588
Bank Asia # 293
HSBC # 012
Islami Bank # 367
SBI # 3157
SBI # 001
Sonali Bank # 3696
Total
Note: 8.00
Share Capital:
Particulars

Opening

Authorized Capital:
(4,00,000 ordinary shares @ Tk.100 each)
Issued, Subscribed and Paid up Capital:
Share Capital
(3,71,912 ordinary shares @ Tk.100 each)

Note: 9.00
Liabilities for Expenses:
Particulars
Bonus Payable
Leave Encashment payable
Expenes Payable
Provision for Sales Promotion Exp.
Tax Deducted at Source
VDS payable
Salary payable
Deffered Tax Payable
Technical fee pyable
Wages Payable
VAT on sale
WPPF Payable
Supplementary Tax on Sales
Special Incentive
Travelling & Conveyance Payable
Gartuity Payable
Provision for Income Tax
Total

Amount in Taka
Balance
800,856
800,856

Opening
Balance
622,446.00
1,306,746.00
1,177,915.80
1,407,519.00
1,942,541.93
19,876.00
2,945,283.00
1,198,770.00
2,900,000.00
851,665.00
1,671,805.00
(17,000.00)
214,241.00
1,091,831.00
4,114,067.00
5,049,161.21
26,496,868

Page 7

Addition
212,282
143,500
265,666
2,610
2,511,794
998,906
28,080
868,589
5,031,427

Amount in Taka
Closing

40,000,000

40,000,000

37,191,200

37,191,200

37,191,200

37,191,200

Amount in Taka
Closing
Adjustment
Balance
834,728
1,280,810
25,936
1,182,916
138,500
388,357
1,019,162
2,180,717
27,491
19,876
2,610
2,892,915
2,564,162
1,198,770
2,900,000
1,031,771
818,800
1,671,805
(8,920)
20,000
214,241
1,004,823
955,597
4,114,067
5,049,161
4,941,453
26,586,841.94

HUSSAIN FARHAD & CO.

HFC

Chartered Accountants
Note: 10.00
Gross Turnover :
Particulars
VBPL (Vidyut 5+1)
Viduyt Safety Razor
Shaving cream
Zorrik Super
Viduyt Super
Vidyut Super Platinum
Viduyt Titanium
Zorrik Super Platinum
Total

Local
7,441,829
194,400
10,159,095
219,512
17,550,000
35,564,836

Export
8,358,362
7,268,940
15,627,302

Note: 11.00
Cost of Goods Sold :
Particulars
Opening stock of Finished Goods
Add : Cost of production
Add : Excess charged in previous period

Notes

Less : Closing Stock of Finished Goods

4.00

11.01

Less: Duty Draw back


Less: Sales promotion/Free distribution

Note: 11.01
Cost of Production :

Amount in Taka
February-12
January-11
5,954,541
4,308,168
38,684,404
35,685,470
150
44,639,094
39,993,638
(2,658,145)
(5,954,541)
41,980,950
34,039,097
1,150,000
1,225,000
717,719
753,526
40,113,231
32,060,571

Amount in Taka
Particulars

Amount in Taka

Amount in Taka
February-12
January-11
7,441,829
10,656,000
8,481,832
8,552,762
921,600
7,268,940
10,159,095
12,121,489
219,512
238,723
17,550,000
9,450,000
51,192,138
41,869,644

Notes

Opening Inventories :
Raw Material (Stainless Steel Strip)
Packing Materials
Chemical Shaving cream
Consumable
PP
Add: Purchase :
Stainless Steel Strip
Packing Materials
Shaving cream materials
Consumables
Freight
Less: Closing Inventories :
Raw Material (Stainless Steel Strip)
Packing Materials
Consumables
Chemical Shaving cream
PP
Total Consumption
Salary & wages
Prime Cost
Add: Factory Overhead:
Manufacturing Overhead
Depreciation
Factory Rent
Air Compressor Rent
[Add : Opening W-I-P

4.00

Less : Closing W-I-P


Total Cost of Production

Page 8

February-12
14,697,955
3,010,192
1,945,296
9,652,866
89,600
39,295,835
23,325,434
6,715,192
6,394,390
2,727,091
133,728
22,115,506
6,928,929
3,080,127
10,033,749
1,983,100
89,600
31,878,285
950,906
32,829,191
6,172,810
4,046,872
1,014,138
1,111,800
1,210,778
40,212,779
1,528,375
38,684,404

January-11
16,468,745
1,876,410
2,782,562
11,720,172
89,600
26,021,497
16,994,755
4,919,872
3,315,974
697,921
92,975
14,697,955
3,010,192
9,652,866
1,945,296
89,600
27,792,286
811,705
28,603,991
6,897,219
4,766,796
1,018,623
1,111,800
1,395,038
36,896,249
1,210,778
35,685,470

HUSSAIN FARHAD & CO.

HFC
Amount in Taka

Amount in Taka

Amount in Taka

Chartered Accountants
Note: 12.00
Administrative Expenses :
Particulars
Car Fuel
Courier Charges
Depreciation
Donation
Entertainment Expenses
Establishment Expense
Inspection Charge (Scrap)
Finance Charge
Hotel Bill Expense
Insurance Expenses
Legal Expenses
License & Renewal Fee
Medical Expense
Misc. Expenses
Office Expense
Personnel Expenses
Printing & Stationery
Repaire maintainance Car
Refreshment Expenses
Security Charge
Telephone & Internet
Water Charge
Total

February-12
15,040
40,204
112,321
100,000
17,083
20,520
64,592
113,226
31,125
361
40,860
740
2,925,216
18,317
13,594
89,967
186,741
9,950
3,799,856.92

Note: 13.00 Selling and Distribution Expenses:


Particulars
Advertisement & Publicity
Boksis
Clearing and Forwarding Expenses
Donation
Driver allowance
Electricity Bill - Gulshan Office
Freight Outward
Fuel Charge
Gas Bill - Gulshan Office
Inspection Charge (Scrap)
Insurance(Selling-Mgf)
Meeting, Seminar & Exhibition Expenses
Rent-Gulshan Office
Repaire & Maintenance(Pick-UP)
Salary-Sales & Marketing
Sales Promotion
Service Charge- Gulshan Office
Travelling Expenses
Total

February-12
1,045,932
72,994
5,350
131,960
11,221
45,748
64,431
43,600
56,087
6,428
857,459
5,000
762,029
3,108,239.00

Amount in Taka
January-11
11,280.00
21,554.00
113,647.73
14,476.00
436,466.59
113,225.75
31,125.00
32,752.00
19,524.00
43,068.00
1,560.00
3,026,148.00
16,920.00
20,460.00
27,331.00
90,915.00
186,818.00
7,400.00
4,214,671.07
Amount in Taka
January-11
1,045,932
12,905
5,000
7,400
276,123
23,149
43,600
2,001,746
5,000
888,571
4,309,426

Page 9

HUSSAIN FARHAD & CO.

HFC

Chartered Accountants
Note : 14.00 Other Income:
Particulars
Scrap Sale
Gain Or Loss by Marine Insurance
Interest on FDR

Amount in Taka
February-12
January-11
23,000
1,999,200
112,060
112,060
135,060
2,111,260
135,060
2,111,260

Less: Foreign Exchange Gain/(Loss)


Total

Note: 15.00: Prior Period Adjustment


Particulars
Provision for WPPF Payable
Provision for Defferd Tax Payable
Excess charged in previous period

Amount in Taka
February-12
January-11
(1,671,805)
(1,198,770)
150
150
150
(2,870,425)

Total

Note: 18.00: Unsecured Loan


Particulars
Payment Against Document (PAD)
Total

Opening
-

Page 10

Addition
2,200,557
2,200,557

Amount in Taka
Adjustment
Closing
2,200,557
2,200,557