BIR Form No, 17012018 Page | of 1 1701 sone CH ‘oo Osege @ warns Ova Sens Ort “Bi eve Overtiny Cems “Sy Prana nsit PEOALEREFEROTUL RATE ——Ovms @hw rom mew wer cnmetn oA ci prTocRepne a | yn ewe canon of ALL act pr Tagine aX ‘21Ameass Sane (oer Ceres er @ enanaonanion © fem Sean ns Da, Ses Gee DOLhiwn” nom Sarcnrinonen ne 4 MRC (© er nti in dS 240 eng en rte ot vey 28a 2 st Petes TT have 28 ante 2 onmonie a0 strato 2) 34 vam anor rept ompamat ume 2 sermons ann Pyntovrnmen nstarn 80) ee : | file:/NC:/Users!Jocelyn®420 Abella/AppData/Local/Temp/%7B3E1A3AS1-BFD8-4468-9F 1... 4/7/2019BIR Form No, 17012018 Page | of 1 “1701. Annual Income Tax Return nt7O1 | Individuals (including MIXED income Eamer), Estates and Trusts |s comme Tomme fe cum rung tu Cntr Ores Orw Fenner a 0 mem MET rm eT? Ove Ole | cmentectoSPUCMLrREPEREMTAL RATE? Oya One re tent aeconcharon AL Aco por nopme(Pa a) ye tot ae conor efAL ace pT Rage Pe “A net tan ee O crate 2c omnes nn cso” car emnencanroeren ve 3A, O te ntsc Re 3 Aas a i a RE: nena gu sown napa ete ms ce OH PART - Computation of Tax 1 San Conpeai Ran oa WEE i aan SS cS anc Tae auc be Tapgere cnt etwtpoen seks eam semen ea ios Steel eee ee fier i Se eS ee smarter 33, | 8 or 8 re 2100S tn 0 Pa Se A 3 0 ees [sa Se te comme oe ein oc be ey evar ama ferret ne [scien Txt Be 2) ee Js cam anasto ran a Seen tate wttronie aepommetvowae tem = [55 [§ a5 “Tarun P nt 7 ovo Cute Haat —_—s7 Co est a Fa Pt en — ps9 peta Pt ae ae file://C:/Users/Jocelyn®420Abella/AppData/Local/Temp/%47B3E1A3AS1-BFD8-4468-9F |... 4/7/2019RUBEN G. TECSON CERTIFIED PUBLIC ACODUNTANT AVENIR BLDG. UN 0, ARCHBISHOP REYES AVE, CEBU CITY ‘Te nos (032) 3843822/3289113 INDEPENDENT AUDITOR'S REPORT (MR. JUNDIL T. GADOR - PROPRIETOR JUGA BUILDERS AND CONSTRUCTION SUPPLY ‘POBLACION, TUBURAN ceBu ‘Report on the Audit of the Financial Statements piron | have audited the financial statements of JUNDIL T. GADOR which comprise the statements of financial position as at December 31, 2018 and 2017, and the statements of income, and statements of cash flows for the years then ended, and notes to the financial statements, including 8 ‘summary of significant accounting policies. {In my opinion, the accompanying financial statements present fairy, in all material respects, the financial position of JUNDIL T. GADOR , 2s at December 31, 2018 and 2027, and its financial performance and its cash flows for the years then ended in accordance with Philippine Financial Reporting Standards for Small and Medium-sized Entities (PFRS for SME's) Psisfir Opinion {conducted our audits in accordance with Philippine Standards on Auditing (PSA). My responsibilities under those standards are further described In the Auditors’ Responsibilities for the Audit of the Financial Statements section of my report. !am independent of the Company in accordance “with the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (IESBA Code) together withthe ethical requirements that are relevant to my audit of the financial statements in the Philippines, the Code of Ethics for Professional Accountants in the pine (Philippine Code of Ethics}, and | have fulfiled my other ethical responsibilities in accordance with these requirements and the IESBA Code. believe thatthe audit evidence | have obtained Is sufficient and appropriate to provide a basis for my auait opinion. Responsibilities of Management and Those Charged with Governance for the Financial Statements ‘Management is responsible for the preparation and fair presentation of the financial statements in accordance with PFRS, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. {In preparing the financial statements, management is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless management either Intends to liquidate the ‘Company or to cease operations, or has no realistic alternative but to do so. ‘Those charged with governance are responsible for overseeing the Company's financial reporting pracess. ‘Auditors! Responsibilities for the Audit ofthe Financial Statements My objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, ‘whether due to fraud or error, and to issue an auditors report that includes my opinion. Reasonable assurance isa high level of assurance, but If ‘ota guarantee that an audit conducted in accordance with PSA wil always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are consider material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis ofthese consolidated financial statements.‘As part ofan audit in accordance with PSA, | exercise professional judgment and maintain professional skepticism throughout the audit. | also: 1 Identify and assesses the risks of material misstatement ofthe financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for my opinion. The risk of not detecting @ material misstatement resulting from fraud Is higher then for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control 1= Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not forthe purpose of expressing an opinion on the effectiveness of the Company's internal contro. ‘= Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by ‘management. ‘= Conclude on the appropriateness of management's use of the going concer basis of accounting and, based on the aualt evidence obtained, ‘whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as @ ‘going concern. If conclude that a material uncertainty exists, | am required to draw attention in my aucitor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify my opinion. My conclusions are based on the audit evidence obtained up ‘to the date of my auditor's report. However, future events or conditions may cause the Company to cease to continue asa going concern. '= Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events ina manner that achieves fair presentation. | communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that | identify during my audit. | also provide those charged with governance with a statement that | have complied the relevant ethical requirements regarding independence, ‘and to communicate with them all relationships and other matters that may reasonably be thought to bear on my independence, and where applicable, related safeguards. ‘From the matters communicated with those charged with governance, | determine those matters that were of most significance inthe aul of the financial statements of the December 34, 2028 and are therefore the key audit matters. | describe these matters in my auditor's report unless law ‘or regulation precludes public disclosures about the matter or when, in rare circumstances | determine that a matter should not be communicated In my report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such ‘communication. eport on the Supplementary Infor ya was conducted fr he purpose ol aing an opin onthe bas nancial Statements taken 28a uhole. The suplemenayintormatin on taxes, des and cee Ses atcha frm he he nancial taterrents preseed x purposes o fing wi fe Bureau cf neal Revenue ands nota equ prof the basic anc satemen. Such formation & he responsi of anagement. Theilomaon has been seed othe auding procedures aplnd ny audt of fe bas nancial statements. In my opinion, he infomation sty sated nal material respects n Jalon he bask anended Eeancal statements akon as 2 wine. a [a Ri ‘TRESOA, (PA PTR No, 234092 01/03/2019, Cebu Cty ‘BOA No. 0341 / Valid May 09, 2018- May 01, 2021 CDA CEA No. 0149-Valid Nov. 18, 2016 to Nov. 18, 2019 ‘BIR No. 13-000091-002-2018 Valid August 07, 2018 to 2021 (PA License No. 35861 TIN: 115-883-388-000 NV Required under BIR Revenue Regulation 15-2010 March 20, 2019‘STATEMENT OF MANAGEMENT'S RESPONSIBILITY FOR ANNUAL INCOME TAX RETURN ‘The Management of JUGA BUILDERS AND CONSTRUCTION SUPPLY is responsible for all information and representations contained in the Annual Income Tax Return for the year ended December 31, 2018. Management is likewise responsible for all information ‘and representations contained in the financial statements accompanying the Annual income Tax Return or Annual Information Return covering the same reporting period. Furthermore, the Management is responsible for all information and representations ‘contained in all the other tax returns and representations contained in all the other tax returns filed for the reporting period, including, but not limited, to the value added tax and/or percentage tax returns, withholding tax returns, documentary stamp tax returns, and any and all other tax returns. In this regard, the Management affirms that the attached audited financial statements for the year ended December 31, 2018 and the accompanying Annual Income Tax Return are in accordance with the books and records of JUGA BUILDERS AND CONSTRUCTION SUPPLY complete and correct in all material respects, Management likewise affirms that: a) the Annual income Tax Return has been prepared in accordance with the provision of the National internal Revenue Code, as amended, and pertinent tax regulations and other issuances of the Department of Finance and the Bureau of Internal Revenue; b) any disparity of figures in the submitted reports arising from the preparation of financial statements pursuant to financial accounting standards and the preparation of the income tax return pursuant to tax accounting rules has been reported as reconciling items and maintained in the company’s books and records in accordance with the requirement of Revenue Regulations No.8-2007 and other relevant issuances; c) JUGA BUILDERS AND CONSTRUCTION SUPPLY has filed all applicable tax returns, reports and statements required to be filed tunder Philippine tax laws for the reporting period, and all taxes and other impositions shown thereon to be due and payable hhave been paid for the reporting period, except those contested in good faith. JUNDIt R ‘ownel ‘March 20, 2019JUGA BUILDERS AND CONSTRUCTION SUPPLY JUNDILT. GADOR - OWNER ‘STATEMENT OF FINANCIAL POSITION ‘AS OF DECEMBER 31, 2018 & 2017 (ln Philippine Currency ) . Notes 2018, 2017 ASSETS Current Assets ‘Cash on Hand and in Bank 4 3911963 3,545,452 Prepayment 5 92,940 80,808 Inventory end. - - ‘Total Current Assets 4/004,903 3,626,256 Noncurrent Assets, Property, Machineries & Equipment (net) ‘Total Noncurrent Assets TOTAL ASSETS LUABILITIES & OWNERS EQUITY UABILITIES (Current Liabilities Accounts Payable Trade and Other Payable Income Tax Payable Total Current Liabilities TOTAL UABILITIES. OWNER'S EQUITY ‘Owners Equity atthe beginning of the year ‘Additional Capital ‘Net income for the year Total Less: Owner's Drawings. TOTAL OWNERS EQUITY ‘TOTAL LIABILITIES AND OWNER'S EQUITY ‘See Notes to Financial Statements 6 14,865,652 __ 4,931,844 14,865,652 4,931,844 S558 100 4as4g08 2457558 8 38.046 26,980, ae ae: Rss _ 254,538 63562 5677275 000,000 574139 336,287 Ta587,701 — 6013,562 —aser701 6013562 —BOSS_8,558,100_ bé9, aJUGA BUILDERS AND CONSTRUCTION SUPPLY JUNDIL T. GADOR - OWNER STATEMENT OF INCOME FOR THE YEARS ENDED DECEMBER 31, 2018 & 2017 (i Philippine Curency ) Notes 2018 2017 REVENUES 19,260,859 20,646,300 DIRECT cosT Materials 16,197,768 17,233,600 LaborPayol 850,651 4415273 TOTAL DIRECT COST 17, 0468417 18,548,873 GROSS REVENUE agree 11907427 OPERATING EXPENSE Gasoline Alowance $9,200 150.991 Depreciation Expense 750,030 600,264 Repairs & Maintenance 116,800 188,600 Telephone & Coommunicaion 16500 16,500 Representation 142,000 201,123 Light & Water 17,300 15,100 Lot Rental 39,000 39,000 Office Suppes 32,100 42300 Salaries & Benefts 201.400 212,160 SSS, PHIC 8 HOMF Employer Share 19,896 10.004 “Transportation and Travel 88,400 71,300 Taxes & Licenses 8 17891 17691 TOTAL OPERATING EXPENSE 140257 1.574.100 NET INCOME BEFORE TAX 672,185 423,287 PROVISION FOR INCOME TAX 1 98,046 86,980 NET INCOME AFTER TAX 374,139 336,287 ‘See Notes to Financial StatementsJUGA BUILDERS AND CONSTRUCTION SUPPLY JUNDIL.T. GADOR- OWNER STATEMENT OF CASH FLOW FOR THE YEARS ENDED DECEMBER 31, 2018 & 2017 (in Philippine currency) ‘CASH FLOW FROM OPERATING ACTIVITIES Net Income (Loss) ‘Adjustment for: Depreciation ‘Operating Income Before working Capital changes Decrease (Increase) in curremt assets: Increase in Other Assets Non Current Assets Increase (Decrease) in current liabilities: Decrease in Current Liabilities Income Tax Payable Net cash used from operating activities CASH FLOW FROM INVESTING ACTIVITIES. Acquisition of Additional Assets "Net Cash used from investing activites ‘CASH FLOW FROM FINANCE ACTIVITIES ‘Additional Capital [Net cash from financing activities INET INCREASE (DECREASE) IN CASH ‘CASH ON HAND AND IN BANK AT THE BEGINNING OF THE YEAR (CASH ON HAND AND IN BANK AT THE END OF THE YEAR ‘See Notes to Finonciol Statements Notes 2018 2017 574,139 350,954 750,030___569,594 3,324,169 945,648 (22,136) 2,085,140 1,962,965, 11,066 3,368,239 1,962,965 (22,001,728) _ (3,500,000) (43,001,728) (3,500,000) 8,000,000 0 8,000,000 o 366,511 -1,537,035, 3505452 5,082,487 3,911,963 3,545,452MR JUNDILT. GADOR JUGA BUILDERS AND CONSTRUCTION SUPPLY NOTES TO FINANCIAL STATEMENTS For the Years Ended December 31, 2018 & 2017 1. Business Information ‘A] The establishment is owned by JUNDIL T. GADOR as a singlo entity undor tho business name of JUGA BUILDERS AND CONSTRUCTION SUPPLY. 1B] The establishment was registered with BIR and Tuburan Treasurer Office. The entity was registered under \VAT TIN 200-617-544. The principal place of businss is at 8 Poblacion Tuburan, Cebu, | Its primary purpose is: 2) Toengage in the business of contracting and development of houses and buitings, ‘and al oer business and contracting incidental or connected therewith. 'b) And othor related businesses. 2. Summary of Significant Accounting Policies, Basis for preparation ‘The Financial statements have been prepared on a historical cost basis except for the assets and lbiities ‘which are measured at fir value: certain property, plant and equipment and certain financial Fables. Non- ‘Current assets and disposal groups held forsale are measured atthe loner of the carving amount an fair value lass costs to sll. ‘Tho financial statements are presented in Philippine Peso which is the enttys funcional curency ‘Slatement of Compliance The financial statements ofthe enty have been prepared in compliance wit Phiipine Financial Reporing ‘Standards(PFRS) in SME's enity. The preparation of financial statements in conformity wih PFRS requires ‘management to make judgments, estimates and assumptions tat affect the application of accounting policies and the reported amount of asses, liabiles, income and expenses. Aciual results may cfr from these estimates Estates and underying assumptions are reviewed on an ongoing basis. Revisions to accountng estimates ae recognized in the period in which the estimates arp revised and in any fulure periods affedted (Changes in Accounting Policies ‘The accounting polices adoptod are consistent with thoso ofthe previous financial year. (Cash and Cash Eauivalents- includes cash on hand and in bank EeeProperty, plant and Equipment — are stated at cost Jess accumulated depreciation and any impairment valve. “The inal cost of property, plant and equipment consists ofits purchase price and any direct atributabo costs of bringing the assets to ts working condition and location forts intended use. Expenditure incued afer the propery, plant and equipment have been put into Qperation, suchas repais and maintenance and overhaul ‘cost, are normaly charged to income inthe period in which the cost are noured. In situations where it can be ‘early demonstrated that the expenditure have resuted in an increase in he future economic benefits expected to bo obtained fom the use ofan tem or property, plant and equipment beyond its originally assessed standard cf performance, the expenditure are capitalized as adiional cst of property, plant and equipment, Each pat cf an item of property, plant and equipment with a cast thats signcantin relation to the foal cost ofthe tem is eprecated separatoly. Depreciation is calculated based on the straight line method over the estimated useful les ofthe assets. Machineries & Eqpt 10 years Fumi & Fituros 8 years Delivery Equipment 10 years “The cost of maintenance and repais is charged fo pxpense as incured. Significant renewals and betterments ‘are capitalized. When assets are retired or otherwise disposed of, the cost and the related accumulated deprecation ae removed from the accounts. Any resulting gain or loss is reflected in the income forthe period. ‘The useful ives and depreciation method ae reviewed periodically to ensure thatthe periods and method of deprecation are consistent wih the expected patter of economic benefits from items of tems of property, pant ‘and equipment. \When assets are rtred or otherwise disposed of, the cost and the related accumulated depreciation and any impairment losses are removed from the accounts. Any resulting gain or loss is credited or charged to operations. ‘mpainment of Non-financial Assets “The enity assesses at each reporting date whether there i an indication that an asset may be impaired. i any ‘such indication exists, or when annual impairment testing for an assets required, the ently makes an estimate ofthe asset’ or cash generating unit's far value less costs fo sll andi value in use and is determined for an individual asset, unless the asset does not generale cash inflows that are largely independent of those from ctber asset, unless the asset does not generate cash inflows that are largely independent of those from other assats or groups of assets. Where the carrying amount ofan asset exceeds its recoverable amount, the asset 's considered impaired and is writen down ois recoverable amount. In assessing value in use, the estimated future cashflows are discounted to ther present value using a pretax discount rate that reflects current market assessments ofthe time value of money and the risks specific to the asset. Impairment losses of coninuing ‘operations are recognized inthe statement of incom in those expense categories consistent with the function ofthe impaired asset 2455‘An assessment is made at each reporting date as to\whether thee is any incicaton that previously recognized impaiment losses may no longer exist or may haye decreased. If such indication exists, the recoverable amount estimated. A previously recognize impairment loss is revered ony thee has been a change inthe estates usod to determine the asset's recoverable amount since the last impalment loss was recognized. If thatis the case, the carving amount ofthe asset is increased tits recoverable, That increased amount cannot ‘exceed the carying amount that would have been determined, net of depreciation, had no impairment loss ben recognized forthe ascetin prior years. Such reversals recognized inthe statement of income unless the assets caried at revaled amount, in which case the reversal is treated zs arevakaton increase. Aer such 2 reversal the depreciation charge is adjusted in future periods to alloca the asset's revised caring amount, less any residual value, ona systematic basis over its remaining usetu He. Contingencies Contingent liabities are not recognized in the enfly’s financial stalements. They are disclosed unless the possibilty ofan outlow of resources embodying economic benefits is remote. Events After the Balance Sheet Date Post year-end events that provide additonal information about the enktys position a the balance sheet date {adjusting events) are reflected inthe financial statements. Post year-end events that are non-ajustng events are disclosed in the notes to nancial statements when materi 3. Significant Accounting Judgments and Estimates Jodgments In the process of applying the enfy’s accountng policies, management has made judgments, apart from those involving estimations, which have the most signicant effect on the amounts recognized in the financial statements, Legal Contingencies ‘The estimate of probable cost forthe resolution of possible cas has been developed in consuitation with outside counsels handling the enity's defense in thege maters and is based upon an analysis of potetial results. No provision for probable losses arising from logal contingencies was recognized inthe entity's financial statements as of December 31, 2018 (none as of December 31, 2017)* 4A. Cah and each equivalonts includes cach in bank of P 3,011,083 on Docomber 31,2018 and P 3,545,452 on December 31,2017.5. Prepayments ~this accounts consist of: 2018 2017 Creditable withholding tax 63,043 Prepaid Income Tax 29,897 92,940 6, Property & Equipment Delvey Office Mahinry Eauloment Eqipment Equipment Told Measrrert basis Banco Jan, 2018 tags = m0 7.104 aZTTE Adtitons sso mo ERK ‘Balance Des. 31, 218 810067 ABA TOS 318 19.06.15 ‘Accuuite Depreciation Balance Jan 01, 2018 say 37 hae aA Provision 198 388 SAI TSEHD ‘Balance Dec, 017 101680 BNE NAN NetBook Va 7.0198 = T7BR7OA 14,9656 7, Income Tax Computation Income Tax Computat on Net income before Tax 672,185, 423,267 Tax Due First P400,000 30,000 86,980 Excess P 272,185 x25% 68,046 Total 98,086 186,980 Less : Qtrly payments 92,940 Income Tax Payable 8. Taxes Compliance per RR-15-2010 {2. Vat Sales forthe year 2018 was P19,260,859 with auipu tax of P2;311,303, Purchases forthe year was P17, 542,750 wih input vat of P2, 105,130. . Credtable withholding tax was P 63,043, ©. Total BIR7010 forthe fist to thie quarter was P 29,697. 4, Total business permit paid for 2018 was P 17,181 and BIR 0605 of P500, INDILIL foaD0R PROPBVANGELINE 2. TECSON CERTIFIED PBC ALCOUNTANT REPORT OF CERTIFIED PUBLIC ACCOUNTANT (ON AN ENGAGEMENT TO COMPILE FINANCIAL STATEMENTS MR, JUNDIL T. GADOR-PROPRIETOR JUGA BUILDERS AND CONSTRUCTION SUPPLY 8 POBLACION, TUBURAN cEBU Report on the Financial Statements | have compiled the accompanying financial statements of JUNDIL T. GADOR based on the information you have provided. These financial statements comprise the statement of financial position of JUNDIL T. GADOR as at December 31, 2018 and 2017, the statement of income, statement of changes in equity and statement of cash flows for the years then ended, and a summary of significant accounting policies and other explanatory information. | performed this compilation engagement in accordance with Philippine Standard on Related Services 4410(Revised), Compilation Engagements. | have applied my expertise in accounting and financial reporting to assist you in the preparation and presentation ofthese financial statements in accordance with Philippine Financial Reporting Standard for Smalland Medium-sized Entities PFRS for SMEs). | have complied with relevant ethical requirements, including principles of accuracy and integrity, objectivity, professional competence and due care. ‘These financial statements and the accuracy and completeness of the information used to compile them are your responsibility Since a compilation engagement is not an assurance engagement, | am not required to verify the accuracy or ‘completeness of the information you provided to me to compile these financial statements. Accordingly, ! do not ‘express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with PERS for SMEs. ommend is CPA License No, 36068 BOA Accreditation No.4744 May 09, 2018 to December 27, 2021 ‘Tax Identification No, 114-644-787-000NV BIR Accreditation No. 13-004935-002-2018 July 11, 2016 to July 11, 2024 PTR No.234098 January 03, 2019 February 20, 2019 Unit 10N AVENIR CONDOMINIUM, ARCHBISHOP REYES AVE., CEBU CITY TEL.NOS.(032) 384-3522/328-9113