2020 Draft FS Format

WAHAT AL HADAF TECHNICAL SERVICES L.L.
C
DUBAI , UNITED ARAB EMIRATES
GENERAL INFORMATION
Shareholders :
Manager : AMAL HASHEM IBRAHIM SALEM
License No. : 770926
Principal activities of the Entity:

The activities of the Company as per trade license Plaster Works, Engraving & Ornamentation Works, False
Ceiling & LightPartition Installation, Building Cleaning Service, Wall Paper Fixing , Painting contracting,
Plumbing & Sanitary Contracting , Air-Conditioning ,ventilation & Air Filtration Systems Installation And
Maintenance, Carpentry & Flooring Contracting, Floor And Wall tiling Works, Electromechenical equipmen
Installation And Maintenace.
Business Address :
Banks :
The Auditor :
Page 1
.C
& Ornamentation Works, False

r Fixing , Painting contracting,
ation Systems Installation And
rks, Electromechenical equipment
WAHAT AL HADAF TECHNICAL SERVICES L.L.C
MANAGER'S REPORT
The Manager is presenting his report and the audited financial statements for the year ended 31st
December, 2020.
Principal activities of the Entity:

The activities of the Company as per trade license Plaster Works, Engraving & Ornamentation
Works, False Ceiling & LightPartition Installation, Building Cleaning Service, Wall Paper
Fixing , Painting contracting, Plumbing & Sanitary Contracting , Air-Conditioning ,ventilation &
Air Filtration Systems Installation And Maintenance, Carpentry & Flooring Contracting, Floor
And Wall tiling Works, Electromechenical equipment Installation And Maintenace.
Financial review:
The table below summarizes the results of 2020 and 2019.

(figures in UAE Dirhams)
2020
###
Revenue -###
Gross profits -###
Gross margin #DIV/0!
###
Net profit for the year (45,395)
###
Net margin #DIV/0!
###
Role of the manager:

The manager is the Entity’s principal decision maker. The manager has the overall responsibility
for leading and supervising the Entity, for delivering sustainable shareholder value through his
guidance and supervision of the Entity’s business. The manager sets the strategies and policies of
the Entity. He monitors performance of the Entity’s business, guides and supervises the
management.
Events after year end:
In the opinion of the manager, no transaction or event of a material and unusual nature, favorable
or unfavorable, has arisen in the interval between the end of the financial year and the date of this
report that is likely to affect, substantially, the result of the operations or the financial position of
the Entity.
(cont..)
Page 2
Auditor:
The Audit Firm have showed their willingness to continue and are appointed to carry out
independent audit for the year ending 31st December, 2021.
Statement of manager's responsibilities:
The applicable requirements require the managers to prepare the financial statements for each
financial year, which presents fairly, in all material respects, the financial position of the Entity,
and its financial performance for the year then ended.
The audited financial statements for the year under review have been prepared in conformity and
in compliance with the relevant statutory requirements and other governing laws. The manager
confirms that sufficient care has been taken for the maintenance of proper and adequate
accounting records that disclose with reasonable accuracy at any time, the financial position of the
Entity and enables him to ensure that the financial statements comply with the requirements of
applicable statute. The manager also confirms that appropriate accounting policies have been
selected and applied consistently in order that the financial statements reflect fairly the form and
substance of the transactions carried out during the year under review and reasonably present the
Entity’s financial conditions and results of its These financial statements were approved by the
Board and signed on behalf by the authorized representative of the Entity.
Authorized signatory
Page 3
INDEPENDENT AUDITOR'S REPORT
To,
The Shareholders
Report on the Audit of the Financial Statements
We have audited the accompanying financial statements of (Company Name), (Emirate), United
Arab Emirates (“Entity”) which comprise the statement of financial position as at 31st December,
2020, and the statement of profit or loss and other comprehensive income, statement of changes in
equity, statement of cash flows for the year then ended, and a summary of significant accounting
policies and other explanatory information.
In our opinion, the accompanying financial statements present fairly, in all material respects, the
financial position of the Company as at 31st December, 2020 and its financial performance and its
cash flows for the year then ended in accordance with International Financial Reporting Standards
(IFRSs).
We conducted our audit in accordance with International Standards on Auditing (ISAs). Our
responsibilities under those standards are further described in the Auditor’s Responsibilities for the
Audit of the Financial Statements section of our report. We are independent of the Company in
accordance with the requirements of Code of Ethics for Professional Accountants, issued by
International Ethics Standards Board for Accountants (IESBA) together with ethical requirements
that are relevant to our audit of the financial statements and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in
accordance with IFRSs, 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.
(Cont..)
Page 4
Auditor’s Responsibilities for the Audit of the Financial Statements
Our 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 auditor’s report
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
that an audit conducted in accordance with ISAs will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered material if, individually or in
the aggregate, they could reasonably be expected to influence the economic decisions of users taken
on the basis of these financial statements.
As part of an audit in accordance with ISAs, we exercise professional judgment and maintain
professional skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the 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 our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error, as
fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Entity
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management.
We communicate with management regarding, among other matters, the planned scope and timing of
the audit and significant audit findings, including any significant deficiencies in internal control that
we identify during our audit.
(Cont..)
Page 5
Auditor’s Responsibilities for the Audit of the Financial Statements (Cont...)
Report on other legal and regulatory requirements
We further confirm that,
1. Compliance with UAE Federal Law No. (2) of 2015.
2. We have obtained all the information and explanations which we considered necessary for our
audit,
3. The financial statements have been prepared and comply in all material respects with the
applicable provisions of the relevant U.A.E. laws, and the Memorandum and Articles of Association
of the Entity,
4. The contents of the Manager’s report which relates to the financial statements are in agreement
with the Entity’s books of account,
5. The capital adequacy was maintained as at 31st December, 2020.
Page 6
Statement of Financial Position as on 31st December, 2020
NOTE 2020
Non Current Assets
Property, Plant and Equipment (Net) 9 2,500
Total 2,500
Current Assets
Cash & Cash Equivalents 4 31,270
Other Receivables 5 31,270
Total 62,540
Total Assets 65,040
Equity & Liabilities

Share Capital 10 -
Statutory Reserve 11 -
Retained Earnings 12 (45,395)
Current Account -
(45,395)
Non Current Liabilities
Bank Borrowings 8 -
Current Liabilities
Trade & Other Payables 6 -
Due To Related Party 7 -
Bank Borrowings 8 20,000
Total 20,000
Total Shareholder's Equity & Liabilities (25,395)
We approve these financial statements and confirm that we are responsible for them, including
selecting the accounting policies and making the judgment underlying them. We also confirm that we
have made available all relevant accounting records and information for their compilation.
The attached notes form an integral part of these accounts.

Auditors report is annexed hereto.
For (Company Name)
Authorized Signatory
Page 7
Statement of Comprehensive Income for the year ended 31st December , 2020
NOTE 2020
Revenue 13 -
Less: Cost of Sales 14 -
Gross Profit (A) -
General and Administrative expenses 16 45,290

Selling & Distribution Expenses 17 -
Financial Charges 18 105
Depreciation 9 -
Total Operating Expenses (B) 45,395
Net operating Income (A-B) (45,395)

Add : Other Income 15 -
Exchange Gain/(Loss) -
(45,395)
Balance transferred to Retained Earnings (45,395)
We approve these financial statements and confirm that we are responsible for them, including
selecting the accounting policies and making the judgment underlying them. We also confirm
that we have made available all relevant accounting records and information for their
compilation.
Auditor's Report is attached hereto.
For (Company Name)
Page 8
Cash Flows Statement for the year ended 31st December, 2020
2020
Cash Flows from operating activities
Net Profit for the year (45,395)
Finance Charges 105
Depreciation -
Operating profit before changes in working capital (45,290)
(Increase) / Decrease in Trade & Other Receivables

Increase / (Decrease) in Trade & Other Payables
Increase / (Decrease) in Due to Related Party
Net cash from / (used in ) operating activities (45,290)
Cash Flows from financing activities

Net Movement in Retained earning -
Bank Borrowings
Finance Charges (105)
Net cash from / (used in) financing activities (105)
Cash Flows from investing activities

Purchase of fixed assets (2,500)
Net cash from/(used in) investing activities (2,500)
Net increase in cash and cash equivalents (47,895)
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year (47,895)
Represented by:
Cash balance -
Bank balance 31,270
31,270

For (Company Name)
Page 9
Statement of changes in Shareholder's Equity for the year ended 31st December, 2020
Share Statutory Retained Current
Capital Reserve Earnings Account Total
Balance as on 1st January, 2019 300,000 - - -

Net profit for the year - - - -
Dividend Declared - - - - -
Net Movement - - - -
Balance as on 31st December, 2019 300,000 - - - -
Net profit for the year - - (45,395) - (45,395)
Dividend Declared - - - - -
Net Movement - - - - -
Balance as on 31st December, 2020 300,000 - (45,395) - 254,605
For (Company Name)
Page 10
Notes to the accounts - for the year ended 31st December, 2020
1 LEGAL STATUS :
Wahat AL Hadaf Technical service L.L.C, UAE incorporated on June 2014 as a Limited Liabilit
issued by Department of Economic Development of Dubai Economy. The Company is registered u
of 2015 relating to commercial companies operating in the UAE.
The communication address is Dubai, United Arab Emirates.

Mr. Amal Hashem Ibrahim Salem, a Jordan national runs and manages the company in his individu
As per UAE Cabinet Decision 52 of 2017 on the Executive regulations of the Federal Decree Law N
the Vat TRN No of the Company is __________________
2 BUSINESS ACTIVITIES :
The activities of the Company as per trade license Plaster Works, Engraving & Ornamentation Work
Installation, Building Cleaning Service, Wall Paper Fixing , Painting contracting, Plumbing & Sanit
,ventilation & Air Filtration Systems Installation And Maintenance, Carpentry & Flooring Contracti
Electromechenical equipment Installation And Maintenace.
3 BASIS OF PRESENTATION :
a. Basis of preparation
The Financial Statements have been prepared initially under the historical cost convention and subs
the IFRS. The financials are based on the assumption of a going concern concept. The prepa
conformity with IFRS that requires the use of certain critical accounting estimates. It also requires m
the process of applying the Company’s accounting policies.
b. Statement of compliance
The Financial Statements have been prepared in accordance with International Financial Reporting
by the International Accounting Standard Board (“IASB”), interpretations issued by the Internation
Committee (“IFRIC”) and requirements of UAE Federal Law No. 2 of 2015 and its latest amendmen
c. Revenue recognition
IFRS 15 Revenue from Contracts with Customers outlines a single comprehensive model of a
contracts with customers and supersedes current revenue recognition guidance found across several
IFRSs. It establishes a new five-step model that will apply to revenue arising from contracts with cu
Step 1 Identify the contract with a customer: A contract is defined as an agreeme
creates enforceable rights and obligations and sets out the criteria for each of t
Page 11
Basis of presentation : (cont.. page 11)
Step 2 Identify the performance obligations in the contract: A performance obligatio

a good or service to the customer.
Step 3 Determine the transaction price: Transaction price is the amount of considera
entitled in exchange for transferring the promised goods and services to a cu
on behalf of third parties.
Step 4 Allocate the transaction price to the performance obligations in the contract:
performance obligation, the Entity will allocate the transaction price to each
that depicts the consideration to which the Entity expects to be entitle
performance obligation.
Step 5 Recognise revenue as and when the Entity satisfies a performance obligation.
The other income consists of commission income which is accounted for on receipt basis as a
Exchange Gain amounts are the differences between the date of invoice and date of payment, is rec
made.
d Foreign Currency Translation
The transactions occurred in currencies other than the company's reporting currency are recorded a
the dates of transactions. Monetary items denominated in foreign currencies are re-translated at the
date. The resultant gain or loss is shown in the statement of profit or loss and other comprehensive in
e Property, Plant & Equipment
Property, Plant and Equipment are stated at cost less accumulated depreciation and any impairment
price and any attributable cost of bringing the asset to its working condition for its intended use. Dep
on straight line basis over the estimated useful lives of assets .
Property, Plant & Equipment Years

Furniture & Office Equipments 3
Motor Vehicle 10
Freehold Property 45
f Inventory
At the Balance sheet date, the company measures the inventories at the lower of cost and net realis
estimated selling price in the ordinary course of business less the estimated costs of completion
make the sale.
The cost of inventories includes all costs of purchase, costs of conversion (direct labour and p
incurred in bringing the inventories to their present location and condition.
Page 12
Basis of presentation : (cont.. page 12)
g Trade receivables
Trade receivables from customers are shown at their carrying value net of allowances for bad
Statement. The management is of the opinion that these are fully recoverable. Therefore, no prov
been made. The management reviews all the trade receivables at the balance sheet date and make
doubtful debts, wherever required.
h Trade payables
Trade payables are obligations towards suppliers on the basis of normal credit terms and do not bear
i Adoption of new IFRS
The company has adopted and complied with the IFRS for SME's since the time it was f
improvements are adopted by the company with effective dates.These financial statements are prep
December, 2020 except some IFRS not relevant to the company or not applicable as on the date o
excluded.
I Standards, amendments and interpretations issued but not yet effective

On May 14, 2020, the International Accounting Standards Board (IASB) issued "Annual Improvem
The pronouncement contains amendments to four International Financial Reporting Standards (IFR
annual improvements project, which are as follows:
Amendments to IFRS 1: First-time Adoption of International Financial Reporting Standards:
The amendment permits a subsidiary that applies paragraph D16(a) of IFRS 1 to measure cumula
amounts reported by its parent, based on the parent’s date of transition to IFRSs.
Amendment to IFRS 9: Financial Instruments:

Fees in the ‘10 per cent’ test for derecognition of financial liabilities. The amendment clarifies w
applies the ‘10 per cent’ test in paragraph B3.3.6 of IFRS 9 in assessing whether to derecognize a
only fees paid or received between the entity (the borrower) and the lender, including fees paid o
lender on the other’s behalf.
Amendment to IAS 41 Agriculture: Taxation in fair value measurements:

The amendment removes the requirement in paragraph 22 of IAS 41 for entities to exclude taxation
value of a biological asset using a present value technique. This will ensure consistency with the req
Page 14
Basis of presentation: (cont.. page 14)
Amendment to IFRS 16: Leases:
Lease incentives. The amendment to Illustrative Example 13 accompanying IFRS 16 removes fro
reimbursement of leasehold improvements by the lessor in order to resolve any potential confus
incentives that might arise because of how lease incentives are illustrated in that example.
The amendments to IFRS 1, IFRS 9, and IAS 41 are effective for annual periods beginning on or af
is permitted. The amendment to IFRS 16 only regards an illustrative example, so no effective date is
II Standards, amendments and interpretations effective and adopted in the year 2020
The following new standards, amendments and interpretations to existing standards or interp
mandatory for the first time for the financial year beginning 01 January 2020 and have been adopt
Statements, if required.
Amendments to IFRS 3
Definition of a Business: Applicable for annual period beginning on or after 01 January 2020.
Amendments to the definition of Material: Applicable for annual period beginning on or after 01
Amendments to references to the conceptual framework in IFRS Standards: Applicable for a

January 2020.
Amendments to IFRS 16
Covid-19 related rent concessions: The amendment permits lessees, as a practical expedient, n
concessions occurring as a direct consequence of the covid-19 pandemic are lease modifications
concessions as if they are not lease modifications. The amendment does not affect lessors. Applicab
after 01 June 2020.
III Standards that are not relevant to the company

IFRS 2
Share based payments
IFRS 8
Operating segments - amendments resulting from April 2009 annual improvements to IFRS eff
relevant to the company.
IAS 12
Income Taxes
j Operating lease
Lease under which substantially all the risks and rewards of ownership of the related asset rem
operating lease and the monthly payments are charged to the statement of comprehensive income o
of the lease.
Page 14
k Functional & Reporting Currency
The functional currencies are EURO, US Dollar and Arab Emirates Dirham respectively and the
Dirham. The figures are rounded up to Dirham ignoring fils.
l Cash & Cash Equivalents

For the purpose of Financial Statements, the cash and cash equivalents are cash in hand and bank b
three months duration.
4 CASH & CASH EQUIVALENTS

Cash Balance
Bank Balance
5 TRADE & OTHER RECEIVABLES

Trade Receivables
Deposits & Advances
Advance to suppliers
Deferred Interest
Bank Guarantee Labour
Accrued Expenses ( Honourarrium)
Prepayments
6 TRADE & OTHER PAYABLES

Trade Payables
Deposits & Advances
Provisions
Duties and Taxes
7 RELATED PARTY TRANSACTIONS

Due to related party
8 OTHERS BORROWINGS
Mortgage Loan
Others Loan
Page 15
Current & Non Current Portion

Current Portion
Non Current Portion
9 PROPERTY, PLANT & EQUIPMENT (NET)

See separate schedule attached page no. 19
10 SHARE CAPITAL
The registered capital of the company is AED 300,000 consisting of 300 shares of Dhs. 1,00
shareholders were as follows:
Name of the Shareholders
1
2
11 STATUTORY RESERVE
Opening Balance
Closing Balance
12 RETAINED EARNINGS
Opening Balance
Net profit for the year
Transfer to Current Account / Reserve
Dividend Declared
Closing Balance
13 REVENUE
Sales
14 COST OF REVENUE
Purchase & Direct expenses
15 OTHER INCOME
Other Income
Page 16
16 GENERAL & ADMINISTRATIVE EXPENSES

Salaries
Rent Expenses
Legal & Professional
Trade licence
Insurance
Advertisement & Business Promotion
Travelling Expenses
Utility Expenses
Repair & Maintenance
Other Expenses
17 SELLING & DISTRIBUTION EXPENSES

Selling & Distribution Expenses
18 FINANCIAL EXPENSES
online Bank Service Charges(01-02-2021 to 01-04-2021)
19 FINANCIAL INSTRUMENTS
Financial instruments comprise financial assets and financial liabilities. Financial assets and financ
company's balance sheet when it has become a party to the contractual provisions of the instrument.
cash, contractual right to receive cash or other financial asset, a contractual right to exchange financ
are potentially favourable or any equity instrument. A financial liability is any liability that is contra
another financial asset, or to exchange financial instruments under conditions that are potentially unf
financial assets and financial liabilities equals their carrying values.
20 RELATED PARTY TRANSACTION

The company enters into transactions with other companies and entities that fall within the definition
International Financial Reporting Standards (IFRS). The related parties are companies and managem
transactions are in the normal course of business normally available when the company deals with th
21 RISK MANAGEMENT
Credit Risk
The company's exposure to credit risk is concentrated on bank balances, trade receivabl
Page 17
RISK MANAGEMENT (cont….page 17)
The company's bank accounts are with local branch of bank operating in the U.A.E. Trade receivab
of allowance and bad debts. Supplier advances are on open account without security. The manageme
regular. Deposits with government departments are refundable and secured and other deposits are m
Staff advances are repayable in normal tenure of business & carry no interest.
Interest risk
The bank borrowings consist of post dated cheques and financing facilities. The company has suffic
therefore Interest risk is limited.
Exchange Risk
There is no significant exchange rate risks as substantially all financial assets and financial liabilities
or US Dollars to which the UAE Dirham is fixed.
Fair values
At the balance sheet date, the fair values of financial assets and liabilities, if any, approximate to the
very carefully scrutinized by the management for their correctness.
22 EMPLOYEES TERMINAL BENEFITS

The company has to provide end of service benefits to its employees according to UAE labour law.
as and when the employee service is terminated and accounted on accrual basis. Provision has been
current year.
23 CONTINGENT LIABILITY
Except for the ongoing business obligations which are under normal course of business against whic
no other known contingent liability or capital commitment on company's account as of balance shee
24 COMPARATIVE FIGURES
The fiscal period covers the period of 12 months from 1st January, 2020 to 31st December, 2020. Pr
and regrouped to conform to current year presentation.

For (Company Name)
d on June 2014 as a Limited Liability Company under license no: 711646
nomy. The Company is registered under the U.A.E Federal Law No. (2)
.
manages the company in his individual capacity.
ulations of the Federal Decree Law No. (8) of 2017 on Value Added Tax,
, Engraving & Ornamentation Works, False Ceiling & LightPartition

nting contracting, Plumbing & Sanitary Contracting , Air-Conditioning
nce, Carpentry & Flooring Contracting, Floor And Wall tiling Works,
historical cost convention and subsequently at fair values as required by

going concern concept. The preparation of Financial Statements is in
counting estimates. It also requires management to exercise judgement in
th International Financial Reporting Standards (“IFRS”) as promulgated

rpretations issued by the International Financial Reporting Interpretation
o. 2 of 2015 and its latest amendments.
single comprehensive model of accounting for revenue arising from

nition guidance found across several Standards and Interpretations within
venue arising from contracts with customers.
contract is defined as an agreement between two or more parties that
and sets out the criteria for each of those rights and obligations.
Page 11
e contract: A performance obligation in a contract is a promise to transfer
on price is the amount of consideration to which the Entity expects to be

promised goods and services to a customer, excluding amounts collected
rmance obligations in the contract: For a contract that has more than one
locate the transaction price to each performance obligation in an amount
h the Entity expects to be entitled in exchange for satisfying each
y satisfies a performance obligation.
ccounted for on receipt basis as and when received by the company.

invoice and date of payment, is recognised as & when actual payment is
's reporting currency are recorded at the rates of exchange prevailing on

n currencies are re-translated at the rates prevailing on the balance sheet
it or loss and other comprehensive income.
d depreciation and any impairment in value. Cost comprises the purchase

g condition for its intended use. Depreciation on fixed assets is computed
s at the lower of cost and net realisable value. Net realisable value is the
the estimated costs of completion and the estimated costs necessary to
of conversion (direct labour and production overhead) and other costs

condition.
Page 12
g value net of allowances for bad and doubtful debts in the Financial
ully recoverable. Therefore, no provision for bad and doubtful debts has
at the balance sheet date and make the appropriate provision for bad and
normal credit terms and do not bear interest.
r SME's since the time it was first published. Any amendments or

.These financial statements are prepared as per IFRS effective as on 31st
y or not applicable as on the date of the financial statements have been
et effective
d (IASB) issued "Annual Improvements to IFRS Standards 2018–2020".
Financial Reporting Standards (IFRS Standards) as result of the IASB's
al Financial Reporting Standards:
16(a) of IFRS 1 to measure cumulative translation differences using the

nsition to IFRSs.
bilities. The amendment clarifies which fees an entity includes when it

assessing whether to derecognize a financial liability. An entity includes
nd the lender, including fees paid or received by either the entity or the
easurements:
AS 41 for entities to exclude taxation cash flows when measuring the fair
will ensure consistency with the requirements in IFRS 13.
Page 14
ccompanying IFRS 16 removes from the example the illustration of the
der to resolve any potential confusion regarding the treatment of lease
lustrated in that example.
or annual periods beginning on or after January 1, 2022. Early application
tive example, so no effective date is stated.
opted in the year 2020
ns to existing standards or interpretations to published standards are
January 2020 and have been adopted in the preparation of the Financial
g on or after 01 January 2020.

nual period beginning on or after 01 January 2020.
IFRS Standards: Applicable for annual period beginning on or after 01
essees, as a practical expedient, not to assess whether particular rent

pandemic are lease modifications and instead to account for those rent
ent does not affect lessors. Applicable for annual period beginning on or
annual improvements to IFRS effective from 1st January 2010 is not
ownership of the related asset remain with the lessor are classified are
atement of comprehensive income on a straight line basis over the period
Page 14
irates Dirham respectively and the reporting currency is Arab Emirates
valents are cash in hand and bank balance & term deposits with less than

2020
-
31,270
31,270
-
-
-
-
31,270
-
-
31,270
-
-
-
-
-
-
-
20,000
20,000
Page 15
20,000
-
20,000
2,500
2,500
isting of 300 shares of Dhs. 1,000. As on 31st December, 2018, the
Shares
-
2020
(45,395)
-
-
(45,395)
-
-
-
-
-
-
Page 16
2020
10,500
-
400
15,000
-
100
3,800
1,250
-
14,240
45,290
-
-
105
105
abilities. Financial assets and financial liabilities are recognized on

actual provisions of the instrument. A financial asset is any asset that is
contractual right to exchange financial instruments under conditions that
iability is any liability that is contractual obligation to deliver cash or
er conditions that are potentially unfavourable. The fair value of
ues.
entities that fall within the definition of a related party as per IAS 24,
parties are companies and management with common interests. The
able when the company deals with third parties.
ed on bank balances, trade receivables, deposits and advances

rating in the U.A.E. Trade receivables are stated at realizable value net
unt without security. The management confirms that the suppliers are
nd secured and other deposits are miscellaneous refundable deposits.
y no interest.
g facilities. The company has sufficient profit to cover the interest,
ancial assets and financial liabilities are denominated in U.A.E Dirhams
iabilities, if any, approximate to their carrying amounts and have been

ss.
yees according to UAE labour law. The company pays the entitlements
n accrual basis. Provision has been estimated and provided during the
mal course of business against which no loss is expected there has been
mpany's account as of balance sheet date.
ry, 2020 to 31st December, 2020. Previous year figures are reclassified
Statement of Property, Plant and Equipment For the year ended 31st December, 2020
9 Property, Plant and Equipment (Net) (figures in UAE Dirhams)
Freehold Furniture & Motor

Property Office Equipments Vehicle Total
Carrying Value
As on 01/01/2020 - -
Addition - 2,500 2,500
As on 31/12/2020 - 2,500 - 2,500
Depreciation
As on 01/01/2020 - -
For the year - - -
As on 31/12/2020 - - - -
Net Carrying Value

As on 31/12/2020 - 2,500 - 2,500
As on 01/01/2020 - - - -

For (Company Name)
Page 19
(Company Name)
Emirate :
Trial Balance
1-Jan-2020 to 31-Dec-2020
Particulars
Capital Account
Reserves & Surplus
Loans (Liability)
DIB LOAN
Loan from sister
Loan from ________________
Loan from ________________
Current Liabilities
Duties & Taxes
Provisions
Sundry Creditors
Fixed Assets
New Premises
Office Equipment
Details of assets
Asset Name Date of Purchase Purchase price
laptop 2016 2000
chair 2016 200
table 2016 300
Current Assets
Opening Stock
Deposits (Asset)
Loans & Advances (Asset)
Sundry Debtors
Cash-in-Hand
Bank Accounts
Bank Guarantee
Refundable Deposit
Security Deposit
Electricity Security Deposit
Prepaid Interest
PREPAID OFFICE RENT
SECURITY DEPOSIT
Sales Accounts
Income from
Income from
Income from
Income from
Income from
Income from
Income from
Purchase Accounts
________ PROJECT EXPENSES
Purchases for project ___________
Indirect Incomes
DISCOUNT RECEIVED
COMMISSION RECEIVED
Any other income received
Indirect Expenses
Advertisement
Air Ticket
Bank Guarantee Commission
online Bank Service Charges(01-02-2021)
Bank Service Charges
Car Expenses
Car Parking Exp
Courier Charges
Data Dongle charges
Drinking Water
Electricity Charges Office
Email Charges
Empower Charges
Gratuity
Interest Paid
Insurance Charges
Leave Salary
Legal Charges
Meals and Entertainment
Medical Exp Staff
Medical Insurance
Misc Exp
Mobile Charges
Office Rent
Office Cleaning Charges
Office Exp
Other Allowance
Petrol Charges
Trade License Exp
Postage
Printing Charges
Rent A Car Expenses
Salary
Salik Recharge
Stationery
Telephone Charges
Trade License Exp
Travelling Exp
Visa and Immigration Exp
Wps Charges
Any other expenses not mentioned above
Profit & Loss A/c

Grand Total
(COMPANY NAME)
1-June-2020 to 1-june-2021
Closing Balance
300000
none
none
20000
none
none
none
31,270.00
none
none
100.00
3,800.00
35.00
35.00
35.00
750.00
200.00
300.00
12,000.00
1,280.00
660.00
10,500.00
300.00
400.00
15,000.00
76665.00

2020 Draft FS Format

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2020 Draft FS Format

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WAHAT AL HADAF TECHNICAL SERVICES L.L.

Manager : AMAL HASHEM IBRAHIM SALEM

License No. : 770926

Principal activities of the Entity:

& Ornamentation Works, False

Principal activities of the Entity:

The table below summarizes the results of 2020 and 2019.

Role of the manager:

Events after year end:

Statement of manager's responsibilities:

WAHAT AL HADAF TECHNICAL SERVICES L.L.C

Report on the Audit of the Financial Statements

Responsibilities of Management for the Financial Statements

Auditor’s Responsibilities for the Audit of the Financial Statements

Auditor’s Responsibilities for the Audit of the Financial Statements (Cont...)

Report on other legal and regulatory requirements

We further confirm that,

1. Compliance with UAE Federal Law No. (2) of 2015.

5. The capital adequacy was maintained as at 31st December, 2020.

Total Assets 65,040

Equity & Liabilities

Total Shareholder's Equity & Liabilities (25,395)

The attached notes form an integral part of these accounts.

(figures in UAE Dirhams)

General and Administrative expenses 16 45,290

Net operating Income (A-B) (45,395)

The attached notes form an integral part of these accounts.

Auditor's Report is attached hereto.

For (Company Name)

(Increase) / Decrease in Trade & Other Receivables

Cash Flows from financing activities

Cash Flows from investing activities

The attached notes form an integral part of these accounts.

Balance as on 1st January, 2019 300,000 - - -

The attached notes form an integral part of these accounts.

Auditors report is annexed hereto.

For (Company Name)

The communication address is Dubai, United Arab Emirates.

Step 2 Identify the performance obligations in the contract: A performance obligatio

d Foreign Currency Translation

e Property, Plant & Equipment

Property, Plant & Equipment Years

I Standards, amendments and interpretations issued but not yet effective

Amendments to IFRS 1: First-time Adoption of International Financial Reporting Standards:

Amendment to IFRS 9: Financial Instruments:

Amendment to IAS 41 Agriculture: Taxation in fair value measurements:

Amendments to references to the conceptual framework in IFRS Standards: Applicable for a

III Standards that are not relevant to the company

l Cash & Cash Equivalents

4 CASH & CASH EQUIVALENTS

5 TRADE & OTHER RECEIVABLES

6 TRADE & OTHER PAYABLES

7 RELATED PARTY TRANSACTIONS

Current & Non Current Portion

9 PROPERTY, PLANT & EQUIPMENT (NET)

Name of the Shareholders

16 GENERAL & ADMINISTRATIVE EXPENSES

17 SELLING & DISTRIBUTION EXPENSES

20 RELATED PARTY TRANSACTION

22 EMPLOYEES TERMINAL BENEFITS

The attached notes form an integral part of these accounts.

manages the company in his individual capacity.