GIA, FATT GS HPA M.N. ISLAM & COMPANY CHARTERED ACCOUNTANTS, 12374, Tejkunipara Tejgaon, Dhaka-1215 Phone: 9113528, 9113458 E-mail: mnislam_fea@yahoo.com Auditors’ Report We have audited the accompanying Balance Sheet of “(DARA TECHNOLOGY (BD) LTD.” of Plot # 87, BNS Centre, Room # 610/B, Sector # 07, Uttara , Dhaka as on June 30, 2016 and also the Income Statement, Cash Flow Statement, Statement of Changes in Equity for the year ended on that date. The preparation of these Financial Statements is the responsibility of the company's management. Our responsibility is 10 express an independent opinion on these Financial Statements. We conducted our audit in accordance with Bangladesh Standards on Auditing (BSA). Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes examining, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statements presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the Financial Statements prepared in accordance with Bangladesh Accounting Standards (BAS), give a true and fair view of the state of the Company's affairs as at June 30, 2016 and the results of its operations for the year ended and comply with the applicable sections of the Companies Act 1994, We also report that: a. we have obtain all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit and made due verification thereof. b. in our opinion, proper books of account as required by law have been kept by the Company so far as it appeared from our examination of those books. ©. the Company’s Balance Sheet dealt with by this report are in agreement with the books of account. d._ the expenditure incurred was for the purpose of the Company’s business MXSTtame and Compas Dated: September 26, 2016 -N.Tstam and Compaiiy : Chartered AccountantsM.N. Islam and Company Chartered Accountants DARA TECHNOLOGY (BD) LTD. Plot # 87, BNS Centre, Room # 610/B, Sector # 07, Uttara , Dhaka Balance Sheet As at 30th June, 2016 Capital & Liabilities Authorized Capital 2,00,000 Ordinary Shares of Tk. 100.00 each Shareholders Equity Issued, Subscribed and Paid up Capital Retained Earnings Current Liabilities Provision for Income Tax Total Property & Assets Fixed Assets Preliminary Expenses Current Assets ‘Advance Income FD R-NCC Bank Ltd. Cash & Bank Balance Total Managing Director Note Taka 20,000,000 10,383,384 3.00 10,000,000 4.00 383,384 5.00 2,410,800 60,500 6.00 53,166 5,000,000 2,992,498 10,516,964 Director Signed in terms of our separate report of even date annexed WN. Islam and Company Chartered Accountants‘M.N. Islam and Company Chartered Accountants DARA TECHNOLOGY (BD) LTD. Plot # 87, BNS Centre, Room # 610/B, Sector # 07, Uttara , Dhaka Income Statement for the year ended June 30, 2016 Particulars ] (Amour) Revenue Received 7 Less: Selling & Administrative Expenses Bi Salary & Allowance = Office Stationery i Postage & Stamp ‘ Mobile & Telephone Bill Conveyance - ° Entertainment : Depreciation - Net Profit - Add : Interest received from FDR A/C 381,657 381,657 Less: Provision for Income Tax 133,580 Profit after Income Tax 248,077EETASSS—Y—S'S OOOO MN. Islam and Company Chartered Accountant DARA TECHNOLOGY (BD) LTD. Plot # 87, BNS Centre, Room # 610/B, Sector #07, Uttara , Dhaka Cash Flow Statement for the year ended June 30, 2016 [Particulars Cash Flows from operating activities \Cash Received from Customer and Others (Cash paid to Employees & Others for expenses [Tax (52,040) ‘Cash Generated from Operations (62,040) Interest Paid : Income Tax Paid and Deduct at Source (63,168) Net Cash (Used in)/Generated from Operating Activities (105,206)} Cash Flows from Investing Activities [Acquisition of Property and Equipment z Long Term Security Deposiv/Advance = } Net Cash Used in Investing Activities a \Cash Flows from Financial Activities Issuance of Shares increase in Long Term Liabilities / Bank Int. received 381,657 Net Cash Generated from/(Used in) Financial Activities 381,657 Increase/Decrease in Cash and Cash Equivalents 276,451 [Cash and Cash Equivalents at the Beginning of the Year 2,716,047 (Cash and Cash Equivalents at end of the Year 2,992,498M.N. Islam and Company Chartered Accountant DARA TECHNOLOGY (BD) LTD. Plot # 87, BNS Centre, Room # 610/B, Sector # 07, Uttara , Dhaka Statement of Changes in Equity for the year ended June 30, 2016 Particulars Notes Share Capital Reserves Retained Eamings Total [At the beginning of the year 10,000,000 - 135,307 10,135,307 New Allotment : - - : lincome during the year 248,077__ 248,07, 10,383,384 Total 10,000,000 = 383,384M,N. Islam and Company Chartered Accountants 1.00 2.00 0.01 0.02 0.03 3.00 4.00 5.00 6.00 DARA TECHNOLOGY (BD) LTD. Plot #87, BNS Centre, Room # 610/B, Sector # 07, Uttara , Dhaka ‘Notes on the Financial statement for the Year ended 30th June, 2016 Background and activities DARA TECHNOLOGY (8D) LTD. has been incorporated on 16th September, 2014 under the Companies Act. 1994 {8 a Private Limited Company vide registration No, C-118219/14 and has set up i's Head Office at Plot # 87, BNS Centre, Room # 810/B, Sector # 07, Uttara , Dhaka ‘The Company's main business activites are 1st Class Contractor, Importer and Supplier. Basis of Accounting Concept ‘The financial ststement of the company has been prepared on a going concern basis under Generally Accepted Accounting Principles (GAAP) on historical cost convention, Method ‘The accounts are maintained on mercantile method. Provision for Income Tax Matters related to taxation are dealt in as per Income Tax Ordinance 1984. Issued, Subcribed and Paid up Capital 10,000,000 Rekha Islam 25,000 Shares @ Tk. 100- 2,500,000 Engr. Md. Aminul Islam 75,000 Shares @ Tk. 100)- 7,500,000 Retained Earnings 383,384 Opening Balance 135,307 ‘Add : Net Proft after Tax during the year 248,07, Fixed Assets 2,440,800, Furniture & Fixture 160,000, Computer & Printer 55,400 Car 2,205,400 ‘Advance Income Tax 53,166 FOR AVC at NCC Bank Lid 38,168 Tax paid at BRTA 45,000