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    46 views33 pages

    Nityo Infotech fs2021

    Uploaded by

    Ren Mar Cruz

    Copyright:

    © All Rights Reserved
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    SECURITIES AND EXCHANGE COMMISSION ‘The following document has been received: Receiving: John Denver De Guzman Receipt Date and Time: July 15, 2022 02:56:07 PM Document Information Document ID: OST107 1620228611479 Document Type: Financial Statement Document Code: FS Period Covered: December 31, 2021 ‘Submission Type: Annual Remarks: None O6rvpascua 01:19:41 PM 01/17/202 COVER SHEET FOR Secutlties on Exchange ‘AUDITED FINANCIAL STATEMENT Commission 5.6 Rogitation cl s]2fofof7]afafi[2]5 COMPANY NAME J ng erent se ttrppbctie [ COMPANY INFORMATION a Sanne a [ os. scunmis gun maria a [ ‘CONTACT PERSON INFORMATION ‘We Saige cow! boson AT be Ofer ole CoBwaron (sua ont noi sac aon anh Ong ‘Wancho ona@isonacea cara #23 917585066 ‘CONTACT PERSON s ADDRESS Unit 2410, Ciryland Herrera Tower 98 VA Rafino cor. Valero St, Saleedo Village, Makati City Soy so Sens SPO RRR tects oucorsoe eansirert aa et ates PMT OLE PY 202 2: As ma te pd onic Pt 01st yn ig cps mnt Pe Corte THIS-IS-A- SYSTEM GENERATED-COPY.OF-THE-DOGIMENT PROM THE:OFFICEAL RECORD OF THE SEC SYGNATURE-NOT- REQUIRED. f Nityo Infotech Secuttties ene Transforming Business intl Exchange i cal Commission ‘STATEMENT OF MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL STATEMENTS. ‘The management cf NITYO INFOTECH INC respons othe preparon andar presentation of the financial statements for the year ended December 31, 2021 in -with the prescribed financial reporting framework indicated therein, and rnal control as management determines is necessary to enable the inapgial stater that are free from material statements, whether meee unites and EON csi nsapnce fr sxtnghe ASGRRAIZIIS 846) Ener, esdosin as applicable meters Bnicetn'ahd’uking thé ging concer basis of accounting unless ether rend to ite the Comp orto cass perasong or has Eatematwebutto som ‘The Board of Directors is responsible for overseeing the Company's financial reporting process. ‘The Board of Directors reviews and approves the financial statements including the schedules attached therein, and submits the same to the stoctholders. JuanchoS. Ong & Co,, CPAs, the independent auditor, appointed by the stockholders, have audited the financial statements of the Company in accordance with Philippine ‘Standards on Auditing, and in their report to the stockholders, have expressed their ‘opinion on the fairness of presentation upon completion of such audit. Robert P.Escolin President/Chairman Boer Treasurer sine OEY BAS CUA 2. 01:19:42 PM 01/17/202 THIS-IS-A- SYSTEM GENERATED: COPY-OF-THE-DOGIMENT PROM THE: OFFICEAL RECORD OF THE SEC ‘STGNATURE- NOT: REQUIRED G j Juancho S. Ong & Co., CPAs J, ‘A member firm of McMillan Woods Global SUPPLEMENTAL WRITTEN STATEMENT OF AUDITOI Securities ona Exchange Commission “The Roaed of Directors and Stockholders inforech, Inc. 10 Floor, 159 Comporate Center Sale Village ‘curities ang Exchange Commission thé fidarlclal fateelit"of Nityo Infotech, Inc. (the “Company”) a6 at sear ended December 31, 2021, on which we have rendered the attached April 15, 2022 In compliance with Securities Regulation Code, Role 6, at amended, we are stating that the above Company has a total number of fire (6) stockhoklers owning one hundred (100) of more shares each. Junho $. Ong e Co CCenied Puc Accountants SBourd of Accournacy Accretion No. 52 Valid unl 12/17/2002 BIR Accretion No, (8.006736-000-2021, Vakd unt 1/21/2024 THN orto? A Lacense No, O1CRARG: IR Accretion Ne, 08.006736.01-2021; Vakd un 01/27/2024 TIN 215078861 PER No, SDIRMS, 02/28/2020, Makati Cay ‘“perypescua 01:19:42 PM 01/17/202 Eoeceeat ee Bo cet THIS-IS-A- SYSTEM GENERATED: COPY.OFTHE-DOGIMENT PROM THE:OFFICEAL RECORD OF THE SEC ‘STGNATURE- NOT: REQUIRED Juancho S. Ong & Co., CPAS J Amember firm of McMillan Woods Global Securities ona Exchange Commission INDEPENDENT AUDITOR'S REPORT The Board of Directors and Stockholders ‘Nityo Infotech, Inc Unit 1001 10" Foor, 139 Cosporae Center SEU MES End Exchange {SSL Merch tc, which compre te setement of eosin e294 wt 1G), an the sacl stem of comprcbensve Fe ites 0 ogee ond tates cal Rr 2 Ge ous cs aL es Fal tienes inching a summary of sca accounting pes. In ur opaton tr accompanying Ganc stsnens presen ih nal teal specs he ana rato’ of ts Compocy ae ae December 31, 01 ai 2000 eau necal pectiomates aad co fs fr the years ceded i scroiance wih te Pilpine Flancal Raping Stndants fr Sealand Medium sed Enns (PTS for SHES), ‘ais fr Opie ‘We conducted our audits in accordance with the Philippine Standards on Audwng (PSAS) Our responsibilities under those standards are further desenbe the Adio’ expen forte A of ‘ve FomancalStatewentssecson of cur repom. We are sndependent of the Company in accordance with the Code of Ethics for Professional Accountants in tho Phikppnes (Code of Fthies) together with che Cchveal requirements that are elevant ous audit of the Financ statements in the Pilppines, and we ‘uae fulled our other ethical responsbities in accordance with these requirements and the Code of Fthics We believe thar the audit evidence we have obtained i sufficient and appropriate to peovide a Dasis for our opition. espowaitesof Mamayemeat and Tlse Chared wth Gosesan fr te inamial Statements Management is responsible forthe preparation and fir presentation of these financial statements in accordance woth Philippine Financial Reporting Sundaes fo Small and Medium-sized Entities (PERS. ‘going concem basis for accounting unless management citer intends t Ii ‘ease operanon, or has no realistic alternave but do $0. SAIN owes ev. na te Yat set de Vita tate, tpn ES ne Ll ans Se apn, el iy Hn Fancher Dine as “cma pen Tein No nba arr ah eo THIS-IS-A- SYSTEM GENERATED: COPY.OFTHE-DOGIMENT PROM THE:OFFICEAL RECORD OF THE SEC “SIGNATURE: NOT AEQUERED Those charged with governance are responsible for overseeing the Company's urlties one process. Exchange Ani ph he i Commission (Our objectives are to obtain asonable assurance about whether the Faancal satcmcats SW whole are foce from materal misstatement, whether due to faut or eer, and 10 issue an auditor's report that ‘acludes our opinion. Reasonable assurance isa high level of assurance, bu s nota guarantee that an ‘adit concluced i acconfance with PSAs will alvays detect a materal misstatement when st cxsts Misstatements can arise from fraud or error and are considered mater if individually or sn he ‘agarezate, they could reasonably be expected to influence the economic decisions of uses ken om the Isis ofthese financial statements. in accordance with PSAs, we exercise profesional jdgment and mainmia ‘hgpughour the qudjt, We alsor Securities ana sc neat ‘deci * cesponsve © those sks, ad btn auc vale a basis for our opinion. The nk of rot Peeee ey taeeste ee onal omissions, miseepresentations, or the overrle + Oban Mt understindag of nico contol relevant wo the audi order to design audit procedures that are appropriate s the circumstances, but not for the purpose of expressing an opaon on the effectiveness of the Company's intemal contr. + Koalute the sppropeatences of secounting polices wed and the reasonableness of scenunting festanates and related disclsures made by mangement. + Conclude on the spproprateness of manmgrient’s use of the going concern bass of accounting sd, baud om the au evidence abtaned, whether a mata unertatty exist en evens ‘or conditions that may east snfcant doubt on the Companys abilty 1 continue a4 going csmeern. If we coachale Ut a miteria uncertainty exists, we are required to draw attenson in Oat andhors report to dhe read dsclosuees st the finan statements of, if such disclosure ae inadequate, to motif our opinion. Ou conclasioas are based on the ut evitence obi ap to the dat of our sutor's report. However, fur events or conbtions may ese the Company wo cease w continue asa gringconcer, © Evafuate the everall presenta, stracture and content of the finaacial statements, inching the slsclosures, and whether the financial statements represent the underlying transactions ad events ‘a ounoer that achieves ie presentation, We communicate with dhse charged with governance egaing, among ag fe spe tn ug ea and gun eB can yg inal conn ar we nf eng ou ae (Our audit was conducted for the purpose of forming an option on the b fs taken asa whole. The supplementary information on tases, duties and heense statements is peesented for purposes of compe: with the res atid the Burcu of [vernal Reverme (BIR) ands nota requied part ofthe baie finaneal statemeAe"Sech formation i THIS-I5-A SYSTEM GENERATED: COPY.OF-THE-DOGIMENT PROM THE: OFFICIAL RECORD OF THE SEC ‘STGNATURE- NOT: REQUIRED the responsibilty of management. ‘The information has been subjected to the Lurltles one ppt is our audit of the base Goancialtatcmcnts. In our opanvn, te ml ‘hange all materal expects in relation ro the basic financal statements taken a6 a whol. Commi: Juuncho 8 Ong & Ca. Certied Puble Acsourtane oan of Aegounancy Accreditation No. S268 Vat uni 12/17/2022 ‘No, 68-06756.000-200; Val nn 1/27/2004 Securities ana Exchange Commission PHILIPPINES 86; Vad und 04/08/2023 i. 08 006734 001-2025 Vali ant 1/27/2024 ‘Na PR No, 918315, 02/23/2122, Makai Cty akan iy, Patppaes Apel 15, 2322 S_- O6rvpascua on ‘42 PM 01/17/202 TWIS-15: A: SYSTEM CENERATED-COPY. OFTHE DOCUMENT FROM THE OFFICIAL RECORD OF THE SEC “SIGNATURE: NOT AEQUERED NETYO INFOTECH ING. STATEMENTS OF FINANCIAL POSTION (Amounts in Philippine Peso) Securities ena Exchange Commission ass casa At on a Teena as 3 maser nasser Pieetaspal praia ste "Sita so hoc “ne a er mDeCUrites and 2 Trend oer pable 1 mn 73M Nowrcutent Lables De tact putin 2 Mena pers ps ass qui Shr ap 13 somo ——xomp00 Resin erings sts 1,505,003 Yai Hae sue 5 230 16 v4 O6rvpascua 01:19342 PM 01/17/202 BELO THIS-IS-A SYSTEM GENERATED: COPY. OFTHE DOGIMENT PRON THE: OFFICEAL RECORD OF THE SEC SYGNATURE-NOT- REQUIRED. NITVO INFOTECH INC. Securities ena Exchange Commission 1s wyiaaser 28024422 16. 10,9, ng9703 500748 Other income » 2097 1.802 Tx T1399,00 3.63550 nina r4oag72y (1.82468) ‘Ommission PHILIPPINES O6rvpascua THIS-IS-A SYSTEM GENERATED: COPY-OF-THE-DOGIMENT PRON THE: OFFICEAL RECORD OF THE SEC STGNATURE-NOT- REQUIRED. NvHVo INnorHEH INC. Siri ‘OF CHANGTS (enous Phatppite ee) Securities ons Exchange Commission rans Tow ; 38 rent caigtiy ay ecrmstd eG ed : fauegsp sn Securities ana Exchange Commission PHILIPPINES O6rvpascua THIS-15:A- SYSTEM” GENERATED: COPY OFTHE: DOCUMENT PROM THE: OFFICIAL RECORD OFTHE SEC ‘STGNATURE- NOT: REQUIRED NNO INrorEcH ING. STATEMENTS OF CASH FLOWS (Amounts to Philippioe Peso) Securities ena Exchange Commission aah Fons fos Opting Aetncs Lane fet 403,67) s04a13 bans for Depecekn 36 seg322 LUnreine foreign exchange loss : 3762 Ingres expense - 103875 ere 9, aa aeons Tray Tar gle eae 7 tas20 18308585, mpecurities and 247 382 ona 979579 PHILIPPINES. 20 Aion: 40 propery and equipment 2 = 0) ‘Neth wen ovesting aces = (4000 ‘Cash Flows from Financing Actes Dio eta pation 2 = souzs1) Due foe related pues 2 3, ‘Neh provi by (a Meaney ees qu.non381) “lect of Exchange Rate 0 = 7 ‘Net incweace (Decrease) iw Cath Sia GaP) Cash, Be 6 8 5,388.05 Gant ed Ts Te Neer» Pana 01:19:43 PM 01/17/202 THIS-1S:A SYSTEM GENERATED: COPY.OF-THE-DOGIMENT PRON THE: OFFICEAL RECORD OF THE SEC SYGNATURE-NOT- REQUIRED. NITYO INFOTECH INC. NOTES TO FINANCIAL STATENENTS AS AT AND FOR THE YEARS ENDED DECEMBER 31,2021 AND 2020 (Ansounts in Philippine Peso) Securities ena Exchange Commission 1 CORPORATE INFORMATION NETYO INFOTECH ING. (the “Company?) is 4 domeste exporaton that was ‘nenmported and registered withthe Philippine Secuties and Exchange Commission SEC) ‘on Fenny 25, 2012 with SEC Rey. No, CS200711125, The Company was restred with he Bureau of Inez Revere (BIR) on Jay 17, 247, with Taxpayer Mentficason No, ITN) 005-799-681-00, 1 riary purpose of the company ito ezage inthe reeitment and placement of rom almarpot for ls enpleyment as registered qggess is located at Unit 1001, 139 Componite Center Bu, SemNet FREY Stewons mission 1h) issued bythe Interatinal Accounting Standards Board (IASB) as approved by the inact Keporting Standards Courel (FRSC) and Board of Accounniney (BOA) and doped by the Philppine Securities apd Exchange Commission GEC, basis of Preparation and Presentation ‘hese fimncial statements have been prepared on the historia cost ass, except for cetain financial nstramsens eared at amortized cost istrieal costs generally based the fi value ofthe consideration given in exchange for ok and services Functional and Presentation Cureney These fnaneal statements ate presented in Phppene Peso, the euteney ofthe peiary ‘commie envionment in which the Company opentes. All amounts are recodd is the teanest oso, exeepe when otherwise indicated, 5. AMENDMENTS 10 THE PFRS FOR SMES ‘On August 12, 215, the Financial Reporting Standards Council (FSRC) bas adopted the 219 Amendment tthe Intemational Financial Repordg Standard fx SMES 46 "2015 re eer ene be alte January 1, 2017, Eater application s permived. ‘Theorie the seal amendmen ofthe PENS for SMEs Mla bythe Congas as December 31,202, O6rvpascua o1:1 THIS-18:A SYSTEM GENERATED: COPY. OFTHE DOCUMENT PROM THE: OFFICIAL RECORD OF THE SEC STGNATURE-NOT- REQUIRED. Amendivents to Seetion 11, Baie Finan stamens if a ale eae of fa ave tno longer sve for an ate Securtties ena Gch as invtments fn uty instrument without uu cot or efor Exchange ice the ash at cost ess mpaiment unt a eae meaore of fa Commission salable ‘The entty is only pemitted wo use this exemption ifit ean cea “ “btaning at determining Be information necessary to comp wth the requ ‘eau excessive cost oF an excessive burs for an SME. Cascation of the extern for de instruments w» be accoursed for undee Sesion 11, and ndiion of examples of lon amangements that woul meet thi riteroa, Clanication onthe ta nd wubsequent measesiment of financial attets and abilities that ‘would censtiut, in effec, a financing transaction. Financial assets and financial labiies st do not slate to an strangement that constitues 2 financing tansaction are inkl sired at an undiscouneed smonnt ani vuboequcndy meuved a fait valve unless Fir av bea pice in binding sale agreement me Siete le Ei od Sant am dR FENG OR GER erive income and tanstons we ownes in secon TOMI ecsascorcies oes ey Spicy as owness. nndeents to Seeton 17, Paper, Pn and Equipe \dktion of an option 10 use the revaluation model fo propery, plant and eqppment. ‘The amendment wil not have an impact of the Company's Gani statemens as the Company des not have any plan to change heir measurement method of its prope, last sul eguipment from gost method to teraluion method. Amendments to Soeton 1% laangie Astor thon Gait Moaifeation to rsqute if he usefal ie of gocduil or another intangible aset cannot be «stablished reliably, the useful fe sal be determined based on Management's best estate but shal ot exceed te (10) years Amenadrents to Seeion 20, Laas Modieation eo include lees with an terest rte vari clase hat linked to market Interstates within the seape of Section 2Dinstead of Section 12, CGlarication chat only some ousoursing agreement, telecommunication contnets that prosid sight to capacity and ke-or pay contnets ae, a substance, lease. ‘Theamenderent wil not Have an impact on the Companys nancial satemenss, Amendments to Section 28, Ewplye Bag Carfcation of he application ofthe accountng requirements for other long-term employee bert, rity fal rexogrize the net change ithe laity dating che pesod wher thar 1 change atbutable to beneBts paid 10 employees during the period, o* ro contributions from the employe, athe cost ofits exe longterm employee benefits during the period. The costs racogmizet endl in profe of loss as an expense urless ic robe recogazed as part of the cost of an ass: such as inventories or propery and equipment, OGEYRASOUR spec omys one edpdRe Rohde L/L 7/202 ‘n tse such tranactons arte. The set change ia long tem employee benef wil be ‘ccognized eatin in prof ot ose as an expense. THIS-IS-A SYSTEM GENERATED: COPY.OFTHE-DOGIMENT PROM THE: OFFICIAL RECORD OF THE SEC SYGNATURE-NOT- REQUIRED. Amesments to Section 30, Fo Comey Tamation CGarcaton that fancies tat deve the vale from the ch Securlties ena fate excnded fom Seton 30, bit aot fn Exchange oreign currency. Commission Aone 0 Seon 39, Rade Pay Dios : igsmcet ofthe defaiton of ated pary” Wit IAS 24, Rete Pay DIRosecs, including incorpomiion ofthe amendment to the defintion, which inca 3 management city providing key management personnel services ithe defnivon ofa related par Osher amendmen persin to undue cost or efor exemptions recognition and measurement sequent, and presentation and discosurerequerments. None of hese amendments arc ‘xpectedto havea sgsificine impact on the Companys nancial tatemenre Seances the instrament mission De neni f nace acts “The Company derscognines financial aset only when the coneactal sights tothe cash ores Fut she atet expze oe ate seed, or when i tranafen the financial asset and sulantally all the risks and rowatds of ownership ofthe ase 0 another enti. If che Company, despite Having rained seme significant rks and rewards of ownership, has transfered conte ofthe asse 0 another parr and the other party has the practical iy to sll the set ns eney to an unelted thin party and i able to exercise that ‘hiltywaterally and withour needing to impose altonalrestiction on the trarsfer, the Company derecognizes the asset and recognize sepanely any rights and obligations retaned vr create onthe transfer Any diference between the comidemtion recived and the amcunts recognised. and sereengnize shal be reeoznized in profi of loss. mention of fina aia Financ iis are derecopnized only when it & exinguished or when the obligation ‘pectin the contac is discharged, cancelled or expires. Any difference berwoen the earring amount of the financial liaily extinguished or ‘ransferre to anctherparyand consiravon paid, including any non-

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