AMIR TAJ

FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2019
AMIR TAJ
STATEMENT OF FINANCIAL POSITION
AS AT JUNE 30, 2019

2019
NOTE (RUPEES)

CAPITAL AND LIABILITIES

SHARE CAPITAL

Capital 3,469,657

Profit for the year 273,112

3,742,769

3,742,769

NON-CURRENT LIABILITIES

Director's Loan -

3,742,769

ASSETS

NON-CURRENT ASSETS

Property, plant and equipment 4 661,500

661,500
CURRENT ASSETS

Tools and Spare Parts 2,731,257

Current Assets 350,012
3,081,269

3,742,769

The annexed notes 1 to 3 form an integral part of these financial statements.

PESHAWAR DIRECTOR CHIEF EXECUTIVE

Financial Statements 2019 4

AMIR TAJ
PROFIT AND LOSS ACCOUNTS
FOR THE YEAR ENDED JUNE 30, 2019

2019
NOTE (RUPEES)

REVENUE
Work done 1,420,560

Cost of work done 2 568,224

Gross Profit/Loss 852,336

OPERATING EXPENSES:

Administrative Expenses (568,224)

NET PROFIT BEFORE TAX FOR THE YEAR 284,112

Tax paid 11,000

NET PROFIT AFTER TAX FOR THE YEAR 273,112

The annexed notes 1 to 3 form an integral part of these financial statements.

PESHAWAR DIRECTOR CHIEF EXECUTIVE

Financial Statements 2019 5

AMIR TAJ
STATEMENT CASH FLOW
FOR THE YEAR ENDED JUNE 30, 2019

2019
NOTE (RUPEES)

CASH FLOW FROM OPERATING ACTIVITIES

Net profit before tax for the year 284,112

Adjustments for non cash and other items:

Depreciation 4 94,500

Operating profit before working capital changes 378,612

WORKING CAPITAL CHANGES

(Increase)/decrease in current assets

-
(2,731,257)
(2,731,257)
Increase/(decrease) in current liabilities
Director's Loan -
-
-

Net cash flow from operations (2,352,645)

TAX PAID (11,000)
Net cash flow from operating Activities (2,363,645)
CASH FLOW FROM INVESTING ACTIVITIES

Addition in property, plant and equipment (945,000)

Net cash inflow from investing activities (945,000)

CASH FLOW FROM FINANCING ACTIVITIES

Capital introduced 3,469,657

Drawings -

Net cash inflow from financing activities 3,469,657

NET CASH FLOW DURING THE YEAR 161,012

CASH AND CASH EQUIVALENTS AT THE

BEGINNING OF THE YEAR -

CASH AND CASH EQUIVALENTS AT THE

END OF THE YEAR 161,012

The annexed notes 1 to 3 form an integral part of these financial statements.

PESHAWAR DIRECTOR CHIEF EXECUTIVE

Financial Statements 2019 8

AMIR TAJ
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED JUNE 30, 2019

1 STATUS AND OPERATION:

AMIR TAJ a company registered in Pakistan Engineering Council and is having its registered office at Mardan. Its program
includes Construction of buildings,roads, escallations and other ancilliary works.

2 BASIS OF PREPARATION

2.1 Basis of Measurement

These financials statements have been prepared under historical cost convention.
3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following accounting policies have been adopted in the preparation of these financial statements. The effect of changes in
accounting policies have been taken in the preparation of financial statements.

3.1 Property and equipment

Property and equipment are stated at cost less accumulated depreciation and impairment in value, if any.
All expenditures connected with specific assets incurred during installment and construction period are carried under capital
work in progress.
These are transferred to specific assets as and when these assets are available for use. Depreciation is charged to income
applying the Reduced balance method.

Depreciation is charged from the date assets put into operation and discontinued from the date asset is retired.
Maintenance and repairs are charged to income as and when incurred. Major renewals and improvements are capitalized.
Gain or loss on disposal of assets, if any, are recognized as and when incurred.
Asset is expensed out against income as these assets are returned back to donor at project end.
3.2 Cash and Bank Balance

Cash and bank balances are carried in the balance sheet at cost. The fair value of cash and cash equivalents approximate their
carrying amount. For the purpose of cash flow statement ,cash comprises cash on hand and in bank.

Financial Statements 2019

AMIR TAJ
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2019
4 PROPERTY AND EQUIPMENT

PLANT AND TOOLS AND

MACHINERY EQUIPMENT

AMOUNT IN RUPEES
Cost

As at 01 July 2018 - -
Additions 800,000 145,000
Transfers - -
As at 30 June 2019 800,000 145,000

Accumulated depreciation

As at 01 July 2018 160,000 29,000

Charge for the year 80,000 14,500
Adjustment - -
As at 30 June 2019 240,000 43,500

Net book value

- as at 30 June 2019 560,000 101,500

Rate of depreciation 10% 10%

 TOTAL

IN RUPEES

-
945,000
-
945,000

189,000
94,500
-
283,500

661,500
AMIR TAJ
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2019
4 PROPERTY AND EQUIPMENT

PLANT AND
MACHINERY

AMOUNT IN RUPEES
Cost

As at 01 July 2018 -
Additions 800,000
Transfers -
As at 30 June 2019 800,000

Accumulated depreciation

As at 01 July 2018 80,000

Charge for the year 80,000
Adjustment -
As at 30 June 2019 160,000

Net book value

- as at 30 June 2019 640,000

Rate of depreciation 10%

 TOOLS AND
EQUIPMENT
TOTAL

AMOUNT IN RUPEES

- -
145,000 945,000
- -
145,000 945,000

14,500 94,500
14,500 94,500
- -
29,000 189,000

116,000 756,000

10%
AMIR TAJ
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 2017
4 PROPERTY AND EQUIPMENT

PLANT AND TOOLS AND

MACHINERY EQUIPMENT
TOTAL

AMOUNT IN RUPEES
Cost

As at 01 July 2016 - - -
Additions 800,000 145,000 945,000
Transfers - - -
As at 30 June 2017 800,000 145,000 945,000

Accumulated depreciation

As at 01 July 2016 - - -
Charge for the year 80,000 14,500 94,500
Adjustment - - -
As at 30 June 2017 80,000 14,500 94,500

Net book value

As at 30 June 2017 720,000 130,500 850,500

Rate of depreciation 10% 10%

AMIR TAJ
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED DECEMBER 31, 2017

1 STATUS AND OPERATION:

A.Q BUILDERS, is registered under The Partnership Registration Act, 1932 and is having its registered office at Mardan. Its
program includes construction of building, roads, escallation and other ancilliary works.

2 BASIS OF PREPARATION

2.1 Basis of Measurement

These financials statements have been prepared under historical cost convention.
3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following accounting policies have been adopted in the preparation of these financial statements. The effect of changes in
accounting policies have been taken in the preparation of financial statements.

3.1 Property and equipment

Property and equipment are stated at cost less accumulated depreciation and impairment in value, if any.
All expenditures connected with specific assets incurred during installment and construction period are carried under capital
work in progress.
These are transferred to specific assets as and when these assets are available for use. Depreciation is charged to income
applying the Reduced balance method.

Depreciation is charged from the date assets put into operation and discontinued from the date asset is retired.
Maintenance and repairs are charged to income as and when incurred. Major renewals and improvements are capitalized.
Gain or loss on disposal of assets, if any, are recognized as and when incurred.
Asset is expensed out against income as these assets are returned back to donor at project end.
3.2 Cash and Bank Balance

Cash and bank balances are carried in the balance sheet at cost. The fair value of cash and cash equivalents approximate their
carrying amount. For the purpose of cash flow statement ,cash comprises cash on hand and in bank.

### 7
AMIR TAJ
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED JUNE 30, 2019

2019
NOTE (RUPEES)

2 COST OF WORK DONE

Technical staff remuneration 12,572

Carriage, cartage and Octrie 51,221
Repair and maintenance 11,213
Petrol, oils and Lubricants 23,605
Hiring charges 152,023
Tender/ Bidding documents 210,558
Miscellaneous 12,532
Depreciation 94,500

568,224

11 DATE OF APPROVAL

These financial statements have been approved by Board of Directors of the Company in their meeting held on
_________.

12 GENERAL

- Figures have been rounded off to the nearest rupee.

- Figures of the previous year have been rearranged wherever necessary for the purpose of comparison.