SIGNAL TELECOM SOLUTIONS

Statement of Cash Flows for period ended 31st August 2012

Net Cash from operating Activities Note

Profit /(Loss) before taxation

Adjustment for :
Depreciation of vehicles,plant & equipment
(Profit) / Loss on disposal of assets

Operating cash flow before changes in

operating assets and liabilities

Changes in operating assets and liabilities

(Increase)/Decrease in accounts receivables

(Increase)/Decrease in inventory
Increase /(Decrease) in Accounts payable
Net increase /(decrease) in working capital
Net cash from operations

Cash flow from investing activities

Proceeds from disposal of property & equipment

Purchase of property and equipment

Net cash utilised in investing activities

Cash flow from financing activities

Proceeds from/(decrease) in long term borrowings

Proceeds from capital contribution from shareholder

Net cash from financing activities

Net increase/(decrease) in cash and cash equivalents

Cash and cash equivalents at beginning of the period

Cash and cash equivalents at the end of the period

Check
 2012

(4,089,925)

38,500
-

(4,051,425)

#REF!
#REF!
#REF!
#REF!
#REF!

-
-

#REF!

#REF!

#REF!
(58,553)

#REF!

#REF!
Mornfire Marketing T/A MAC

Statement of Changes in Equity for period ended 31st August 2012

Issued Share capital Long Term Accumulated Profit/ Total

Shareholder Loans (Loss)
Balance @ 1/08/12 #REF! #REF! #REF! #REF!

Payment of Mataswa Trust Loan (462) (462)

Loss for the preiod (4,089,925) (4,089,925)

Balance @ 31/8/12 #REF! #REF! #REF! #REF!

Check #REF! #REF! #REF!

 Stelecom Business Solutions (Pvt) Ltd

Statement of Comprehensive Income for the period ended 31 May 2023

Month Year to Date Feb-12

Actual Actual Actual Actual Actual Actual Budget Variance +/- % variance

Notes Jan Feb Mar Apr May Total % of sales

Sales 1 20,817,722.44 6,867,876.46 7,173,311.54 93,651,468.33 26,962,291.37 155,472,670.14 155,472,670.14 - -

#REF! #REF!

Cost of Sales (19,699,680) (18,180,709) (11,440,043) (10,366,637) (18,601,962) (78,289,031.2) (78,289,031.15) - -

#REF! #REF!

Gross Profit 1,118,042 (11,312,833) (4,266,732) 83,284,831 8,360,330 77,183,639 77,183,638.99 0 -

#REF! #REF!

Other Income - - 0 - 0 6,626,655 6,626,655 6,626,655.18 -

Less Operating Expenses 2 (5,207,968) (6,750,710) (5,353,272) (5,632,244) (9,064,827) (32,009,021) (32,009,020.55) - -
#REF! #REF!

Net Profit /(Loss) Before Tax (4,089,925) (18,063,543) (9,620,003) 77,652,587 5,922,158 51,801,274 51,801,273.62 0 -
#REF! #REF!

Less : Provision for Tax - - - - - 26,418,908 -

#REF!

Net Profit After tax (4,089,925) (18,063,543) (9,620,003) 77,652,587 5,922,158 78,220,182 51,801,273.62 26,418,908
#REF! #REF!

Add : Profit/Loss b/fwd (4,089,925) (22,153,468) (31,773,472) 45,879,116 -

Cummulative Profit/Loss (4,089,925) (22,153,468) (31,773,472) 45,879,116 51,801,274 78,220,182 78,220,182

#REF!

Less : Dividends Paid - 0 -

#REF!

Profit/Loss c/fwd (4,089,925) (22,153,468) (31,773,472) 45,879,116 51,801,274 78,220,182 78,220,182

#REF!

Stelecom Business Solutions (Pvt) Ltd

Notes to the Statement of Comprehensive Income - May 2023

Year to Date Cum % of total Budget
Note 1 Jan Feb Mar Apr May Total Budget Variance +/(-) % Variance +/(-) August
VoIP - Support & Maintenance 408,100.00 43,200.00 601,510.00 90,040,272.57 19,212,684.00 110,305,767 #DIV/0! 70.95 73,786.60 Windscreens
Hardware Sales 1,239,329.00 61,675.00 56,210.00 - - 1,357,214 #DIV/0! 0.87 907.88 Door Glass
Consulting Income 286,800.00 324,000.00 - - - 610,800 0.39 408.58 Consumables
LTE _ Bulawayo 40,040.00 - - - - 40,040 #DIV/0! 0.03 26.78 Canopies - Beekman
Fibre Sales 292,600.00 - 1,062,411.28 - - 1,355,011 #DIV/0! 0.87 906.40 Canopies - Puma
Sales - Other Services - 2,071,380.00 548,550.00 - - 2,619,930 1.69 1,752.54 Canopies - Maxliner & Loadbin liners
Sales - Revenue - Other 9,802,823.99 818,989.54 542,508.45 - 1,679,621.45 12,843,943 #DIV/0! 8.26 8,591.67 Radio & Alarms
Liquid Projects & LTE 8,748,029.45 3,548,631.92 4,362,121.81 3,611,195.76 6,069,985.92 26,339,965 #DIV/0! 16.94 17,619.54 Rubberising
Total 20,817,722 6,867,876 7,173,312 93,651,468 26,962,291 155,472,670 - - #DIV/0! 100.00 104,000.00 Total
104000

Note 2 Cost of Goods Sold

200-001 · Hardware 69,947.07 7,061,864.19 237,038.50 54,398.85 91,978.50 7,515,227.11
200-002 · Labour - 162,439.20 - - - 162,439.20
200-003 · Clearing Charges - - - - - -
200-005 · Software - - - 96,000.00 - 96,000.00
200-006 · Freight & Clearing - - 57.00 173,626.00 - 173,683.00
200-007 · Stock Adjustment 304.35 10,010.00 - - - 10,314.35
200-008 · Other 5,864,749.67 5,245,661.37 4,202,536.61 4,319,823.31 7,453,756.68 27,086,527.64 #
200-009 · Internet Purchases - Tose Sonke 340,000.00 365,106.67 384,186.00 184,416.23 112,567.00 1,386,275.90
200-011 · Project Cost 6,700,210.51 2,628,616.24 3,385,201.34 2,863,559.82 6,447,521.07 22,025,108.98
200-000 · Cost of Goods Sold - Other 244,803.00 78,540.00 - - 100.00 323,443.00
13,220,014.60 15,552,237.67 8,209,019.45 7,691,824.21 14,105,923.25 58,779,019.18

Note 3 Analysis of Operating Expenses for May 2023

Month Year to Date
Jan Feb Mar Apr May Total
Bank Service Charges 466,488.85 1,039,254.16 187,414.86 188,484.92 515,551.88 2,397,195
Computer Expenses - - 54,670.00 26,950.00 - 81,620
Depreciation - expense 126,592.00 126,592.00 126,592.00 126,592.00 126,592.00 632,960
Legal Fees - - - 38,500.00 - 38,500
Generator Fuel & Maintenance - 15,400.00 141,427.20 80,598.74 24,766.75 262,193
Fines and Penalties - - 101,640.00 - - 101,640
Operating expenses - - - 2,808.37 - 2,808
Office Expense 285,320.00 45,217.40 207,347.83 225,608.70 283,695.66 1,047,190
Repairs & Maintenance - Office - 38,500.00 90.00 1,540.00 - 40,130
Management Fees 70,000.00 1,501,901.60 - - - 1,571,902
Vehicle Expense 5,020.40 - - 24,088.83 - 29,109
Fuel & Oil 134,120.39 735,257.60 347,076.00 164,514.64 302,694.03 1,683,663
Repairs & Maintenance - 12,320.00 279,682.46 5,660.00 26,951.00 324,613
Licensing & Insurance - 72,000.00 192,200.00 - - 264,200
Parking Fees 770.00 - - 2,311.00 1,130.43 4,211
Rent and Rates -
Rent Mt Pleasant 409,920.00 937,398.00 468,699.00 779,225.31 770,841.42 3,366,084
Rent - Tata - - - 566,005.78 - 566,006
Rent and Rates - Other 1,600,000.00 - - - - 1,600,000
Rent and Rates 2,009,920.00 937,398.00 468,699.00 1,345,231.09 770,841.42 5,532,090
Printing & Stationery 14,699.30 2,009.70 - - - 16,709
Gross Salaries -
Basic Salaries 1,475,098.89 1,690,098.89 2,169,832.60 2,163,246.43 4,544,863.04 12,043,140
NSSA Co. Contribution 61,658.76 69,312.44 80,010.93 89,114.19 190,958.99 491,055
NEC Co.Contribution 10,723.26 7,822.14 12,701.57 13,878.07 29,738.73 74,864
WCIF - - 22,225.26 24,753.94 53,044.16 100,023
Gross Salaries 1,547,480.91 1,767,233.47 2,284,770.36 2,290,992.63 4,818,604.92 12,709,082
Protective Clothing - - - 11,239.00 - 11,239
Staff Welfare 244,977.34 148,165.90 175,050.46 654,374.80 880,874.00 2,103,443
Staff Welfare - Harare 9,000.00 - 23,000.00 24,000.00 544,024.51 600,025
Dues and Subscriptions - - 1,500.00 - - 1,500
Interest Expense -
Bank Interest - - 0.59 118.29 64.89 184
Interest Expense - - 0.59 118.29 64.89 184
Utilities -
Electricity charges 83,000.00 101,000.00 - 116,000.00 50,000.00 350,000
Utilities 83,000.00 101,000.00 - 116,000.00 50,000.00 350,000
Telephone - -
Telephone charges - Harare - - - 15,840.00 38,440.86 54,281
Telephone - Other - 7,700.00 10,049.00 26,930.00 37,956.54 82,636
Total 382-000 · Telephone - 7,700.00 10,049.00 42,770.00 76,397.40 136,916
384-000 · Internet Charges 132,578.60 63,390.30 384,378.17 45,000.00 454,526.00 1,079,873
385-000 · Travelling and Entertainment -
385-001 · Local Travel 78,000.00 44,300.00 339,683.90 214,861.00 188,112.00 864,957
385-002 · Foreign Travel - 93,069.90 - - - 93,070
385-000 · Travelling and Entertainment - Other - - 28,000.00 - - 28,000
Total 385-000 · Travelling and Entertainment 78,000.00 137,369.90 367,683.90 214,861.00 188,112.00 986,027
Total Expenses 5,207,967.79 6,750,710.03 5,353,271.83 5,632,244.01 9,064,826.89 32,009,021
 Stelecoms Business Solutions (Pvt) Limited

Statement of Financial Position as at 31May 2023

May 2023 Dec 2022

Notes ZWL ZWL
Assets
Non-Current Assets 4 6,070,698 #REF!

Current Assets 5 113,488,723 #REF!

Bank and Cash 6 8,609,051

Total 128,168,472 #REF!

Shareholders Equity

Authorised Share Capital - -

20 000 Ordinary Shares of $1 each
-29.43
Issued Share Capital 1 1,018,572 #REF! 24022.57
Shareholders Loan Accountant
Accumulated Profit 71,499,742 #REF! #REF!
#REF!
Non Current Liabilites - #REF!

- -
Sub -Total 72,518,313 #REF!

Current Liabilities - #REF!

Accounts payable 2 5,542,776 #REF! #REF!
Accruals & Provisions 3 23,126,967 #REF! #REF!
VAT 5,918,404 #REF! #REF!
- #REF! #REF!
Total 72,518,312 #REF!

(55,650,160) #REF!

(27,825,080)
MORNFIRE MARKETING T/A M.A.C
Notes to the Statement of Financial Position as at 31st August,2012 July 2012

Note 1 Issued Share Capital #REF! 20,000

SDV International #REF! 9,800

Mataswa & Company Trust #REF! 9,200
B.Mutseyekwa #REF! 1,000

Note 2 Non Current Liabilities #REF! 86,047

SDV International #REF! 50,200

Mataswa & Company Trust #REF! 3,334

Note 3 Accruals & Provisions #REF! 21,227

Provision for Salaries & Bonus #REF! -
Provision for Electricity and Water #REF! 746
Provision for Telone #REF! 790
P.A.Y.E #REF! 2,697
N.S.S.A. #REF! 814
NEC #REF! 31
Provision for Consultancy #REF! -
Provision for rent #REF! 2,750
Provision for Directors Fees #REF! 3,689
Provision for Duties & Transport #REF! -
Provision - Insurance #REF! 200
Prov for security #REF! 700
Prov for 2011 Company Tax #REF! 8,810

Note 4 Non Current Assets #REF! 38,733

Motor Vehicles - Net Value #REF! 15,210
Computer Equipment - Net Value #REF! 3,360
Office Equipment - Net Value #REF! 1,382
Furniture & Fittings - Net value #REF! 4,403
Plant & Equipment - Net Value #REF! 13,466

Note 5 Current Assets #REF! 113,850

Stock #REF! 67,558

Windscreens #REF! 2,961 3317
Door Glass #REF! 9,566 9851
Radios & Alarms #REF! 944 1235.25
Accessories #REF! 270 2188.84
Rubbers #REF! - 0
Canopies - Beekman #REF! 40,437 11367.38
Canopies - Puma #REF! 6,735 9220
Canopies - Maxliner #REF! 6,644 10637.61
Trade Debtors #REF! 48,929 52672.51

Other Debtors #REF! 55,916 12837.43

M Gonzo #REF! 31 31
Carfill Mutare #REF! 859 859
Deposits #REF! 26,181 10,000.00
Maglass #REF! 20
Tasnet #REF! 28,366
Staff Loans & Advances #REF! 125 1918
Allowances prepayment #REF! 334
Bank & Cash #REF! (58,553)
Stanbic No. 1 Account #REF! (58,613)
Stanbic No. 2 Account #REF! 60
Petty Cash #REF! 0

Note 6 Liquidity Ratios Standard August 2012 July 2012

Current Ratio 2:1 #DIV/0! : 1 #REF! : 1
Acid Test 1:1 #REF! : 1 #REF! : 1

Total Assets ### #REF!

Total Liabilities - #REF!
Current Last Month Movement
Total Debtors #REF! 104,845 #REF!
 31 May 23
ASSETS
Fixed Assets
610-000 · Computer Equipment
610-001 · Cost 86,213.75
610-002 · Accumulated Depreciation (77,439.51)
Total 610-000 · Computer Equipment 8,774.24
620-000 · Furniture and Fixtures
620-001 · Cost 28,159.53
620-002 · Accumulated Depreciation (13,548.21)
Total 620-000 · Furniture and Fixtures 14,611.32
625-000 · Office Equipment 55,000.00
630-000 · Motor Vehicles
630-001 · Cost 6,405,500.00
630-002 · Accumulated Depreciation (533,790.00)
Total 630-000 · Motor Vehicles 5,871,710.00
640-000 · Company Tools
640-001 · Cost 709,745.84
640-002 · Accumulated Depreciation (589,143.68)
Total 640-000 · Company Tools 120,602.16
Total Fixed Assets 6,070,697.72
Current Assets
Other Current Assets
700-050 · Liquid Retention Amounts 1,506,265.07
720-000 · Bulawayo Inter-company Account 40,800.00
730-000 · Tose Sonke Africa (1,223,959.80)
735-000 · Other S T Loans & Advances 2,362,600.00
750-000 · Stock 383,361.39
865-000 · Deposits Paid 74,277.00
880-001 · Security Deposit - asset 50,384.00
Total Other Current Assets 3,193,727.66
Accounts Receivable
700-000 · Accounts Receivable (555,394.34)
700-005 · Accounts Receivable - USD 104,296,094.38
700-010 · Receivables Suspense - USD 6,554,295.40
Total Accounts Receivable 110,294,995.44
Cash at bank and in hand
1200 · Undeposited Funds (424,400.00)
800-001 · CABS 1,489.79
800-002 · CBZ ZWL 221.17
800-003 · FBC ZWL 4,863,210.77
800-004 · NEDBANK ZWL 3,301,692.11
800-006 · NEDBANK NOSTRO 29,687.73
800-007 · POSB 1,326.82
800-999 · Interbank Transfers Suspense (933,000.00)
820-000 · CASH ON HAND-USD 1,768,823.00
Total Cash at bank and in hand 8,609,051.39
Total Current Assets 122,097,774.49
Current Liabilities
Accounts Payable
2000 · Accounts Payable - USD 3,288,175.26
900-000 · Accounts Payable 2,254,600.30
 Total Accounts Payable 5,542,775.56
Other Current Liabilities
2553 · Tax Account (Sales Taxes) 18,323,483.43
955-000 · NSSA Control 1,145,306.95
960-000 · PAYE Control 1,713,185.65
965-000 · NEC Control 56,305.02
970-000 · Salaries Control 1,874,887.37 23,126,966.83
980-000 · ZIMRA Payable (173,729.39)
980-001 · Zimra Output Tax 9,629,266.29
980-002 · Zimra Input Tax (2,022,572.27)
980-004 · Zimra Payments (1,014,561.09)
981-000 · ZIMRA Income Tax Control (500,000.00) 5,918,403.54
983-000 · Intercompany - Tose Sonke 10,993.00
984-000 · Intercompany - Bamboo Africa 2,805.41
999-999 · Suspense Account (21,283,672.96) (21,283,672.96)
Total Other Current Liabilities 7,761,697.41
Total Current Liabilities 13,304,472.97
NET CURRENT ASSETS 108,793,301.52
TOTAL ASSETS LESS CURRENT LIABILITIES 114,863,999.24
NET ASSETS 114,863,999.24
Capital and Reserves
3200 · Members Equity 813,651.10
400-000 · Share Capital Account 204,920.41 1,018,571.51
410-000 · Liquid Set-Off account (132,050.88)
420-000 · Shareholders Loan Account 42,345,685.85 42,345,685.85
Profit for the Year 71,631,792.76 71,499,741.88 21,062,012.89
Shareholder funds 114,863,999.24
 STELECOM BUSINESS SOLUTIONS
STATEMENT OF COMPREHENSIVE INCOME FOR PERIOD ENDED 31 MAY 2023

Currency ZWL USD ZWL

Rate 785.58
Jan 23 Feb 23

Income
100-000 · Sales - Revenue
100-001 · VoIP - Support & Maintenance 408,100.00 519.49 43,200.00
100-003 · Hardware Sales 1,239,329.00 1,577.60 61,675.00
100-004 · Consulting Income 286,800.00 365.08 324,000.00
100-005 · LTE _ Bulawayo 40,040.00 50.97 -
100-007 · Fibre Sales 292,600.00 372.46 -
100-008 · Sales - Other Services - - 2,071,380.00
100-000 · Sales - Revenue - Other 9,802,823.99 12,478.45 818,989.54
Sub-Total 100-000 · Sales - Revenue 12,069,692.99 15,364.05 3,319,244.54
4990 · Liquid Projects & LTE installation 8,748,029.45 11,135.76 3,548,631.92
Total Income 20,817,722.44 26,499.81 6,867,876.46
Cost of Goods Sold
200-000 · Cost of Goods Sold
200-001 · Hardware 69,947.07 89.04 7,061,864.19
200-002 · Labour - - 162,439.20
200-003 · Clearing Charges - - -
200-005 · Software - - -
200-006 · Freight & Clearing - - -
200-007 · Stock Adjustment 304.35 0.39 10,010.00
200-008 · Other 5,864,749.67 7,465.50 5,245,661.37
200-009 · Internet Purchases - Tose Sonke 340,000.00 432.80 365,106.67
200-011 · Project Cost 6,700,210.51 8,529.00 2,628,616.24
200-000 · Cost of Goods Sold - Other 244,803.00 311.62 78,540.00
Uncategorised Cost of Sales 6,479,665.41 8,248.26 2,628,471.66
Total COGS 19,699,680.01 25,076.61 18,180,709.33
Gross Profit 1,118,042.43 1,423.21 (11,312,832.87)
Expense
307-000 · Bank Service Charges 466,488.85 593.81 1,039,254.16
312-000 · Computer Expenses - - -
319-000 · Depreciation - expense 126,592.00 161.14 126,592.00
322-000 · Legal Fees - - -
323-000 · Generator Fuel & Maintenance - - 15,400.00
325-000 · Fines and Penalties - - -
326-000 · Operating expenses - - -
327-000 · Office Expense 285,320.00 363.20 45,217.40
332-000 · Repairs & Maintenance - Office - - 38,500.00
333-000 · Management Fees 70,000.00 89.11 1,501,901.60
335-000 · Vehicle Expense 5,020.40 6.39 -
335-001 · Fuel & Oil 134,120.39 170.73 735,257.60
335-002 · Repairs & Maintenance - - 12,320.00
335-003 · Licensing & Insurance - - 72,000.00
335-004 · Parking Fees 770.00 0.98 -
340-000 · Rent and Rates -
340-001 · Rent Mt Pleasant 409,920.00 521.81 937,398.00
340-005 · rent - Tata - - -
340-000 · Rent and Rates - Other 1,600,000.00 2,036.71 -
Total 340-000 · Rent and Rates 2,009,920.00 2,558.52 937,398.00
346-000 · Printing & Stationery 14,699.30 18.71 2,009.70
353-000 · Gross Salaries -
353-001 · Basic Salaries 1,475,098.89 1,877.72 1,690,098.89
 353-002 · NSSA Co. Contribution 61,658.76 78.49 69,312.44
353-003 · NEC Co.Contribution 10,723.26 13.65 7,822.14
353-004 · WCIF - - -
Total 353-000 · Gross Salaries 1,547,480.91 1,969.86 1,767,233.47
357-000 · Protective Clothing - - -
358-000 · Staff Welfare 244,977.34 311.84 148,165.90
358-001 · Staff Welfare - Harare 9,000.00 11.46 -
365-000 · Dues and Subscriptions - - -
370-000 · Interest Expense -
379-001 · Bank Interest - - -
Total 370-000 · Interest Expense - - -
381-000 · Utilities
381-001 · Electricity charges 83,000.00 105.65 101,000.00
Total 381-000 · Utilities 83,000.00 105.65 101,000.00
382-000 · Telephone
382-001 · Telephone charges - Harare - - -
382-000 · Telephone - Other - - 7,700.00
Total 382-000 · Telephone - - 7,700.00
384-000 · Internet Charges 132,578.60 168.77 63,390.30
385-000 · Travelling and Entertainment
385-001 · Local Travel 78,000.00 99.29 44,300.00
385-002 · Foreign Travel - - 93,069.90
385-000 · Travelling and Entertainment - Other - - -
Total 385-000 · Travelling and Entertainment 78,000.00 99.29 137,369.90
Total Expense 5,207,967.79 6,629.46 6,750,710.03
Net Ordinary Income (4,089,925.36) (5,206.25) (18,063,542.90)
Other Income/Expense
Other Income
77000 · Exchange Gain or Loss - - -
Total Other Expense - -
Net Other Income
Profit for the Year (4,089,925.36) (5,206.25) (18,063,542.90)

Cummulative Profit/Lo (4,089,925.36) - 22,153,468.27

 USD ZWL USD ZWL USD ZWL USD ZWL
889.13 929.86 1047.44 2577.06
Mar 23 Apr 23 May 23 TOTAL

48.59 601,510.00 646.88 90,040,272.57 85,962.22 19,212,684.00 7,455.27 110,305,766.57

69.37 56,210.00 60.45 - - - - 1,357,214.00
364.40 - - - - - - 610,800.00
- - - - - - - 40,040.00
- 1,062,411.28 1,142.55 - - - - 1,355,011.28
2,329.67 548,550.00 589.93 - - - - 2,619,930.00
921.11 542,508.45 583.43 - - 1,679,621.45 651.76 12,843,943.43
3,733.14 2,811,189.73 3,023.24 90,040,272.57 85,962.22 20,892,305.45 8,107.03 129,132,705.28
3,991.13 4,362,121.81 4,691.16 3,611,195.76 3,447.64 6,069,985.92 2,355.39 26,339,964.86
7,724.27 7,173,311.54 7,714.40 93,651,468.33 89,409.86 26,962,291.37 10,462.42 155,604,018.48
- - -
- - -
7,942.44 237,038.50 254.92 54,398.85 51.94 91,978.50 35.69 7,515,227.11
182.69 - - - - - - 162,439.20
- 57.00 0.06 - - - - 57.00
- - - 96,000.00 91.65 - - 96,000.00
- - - 173,626.00 165.76 - - 173,626.00
11.26 - - - - - - 10,314.35
5,899.77 4,202,536.61 4,519.54 4,319,823.31 4,124.17 7,453,756.68 2,892.35 27,086,527.64
410.63 384,186.00 413.17 184,416.23 176.06 112,567.00 43.68 1,386,275.90
2,956.39 3,385,201.34 3,640.55 2,863,559.82 2,733.87 6,447,521.07 2,501.89 22,025,108.98
88.33 - - - - 100.00 0.04 323,443.00
2,956.23 3,231,023.62 3,474.74 2,674,812.70 2,553.67 4,496,038.57 1,744.64 19,510,011.97
20,447.75 11,440,043.07 12,302.97 10,366,636.91 9,897.12 18,601,961.82 7,218.29 78,289,031.15
(12,723.49) (4,266,731.53) (4,588.57) 83,284,831.42 79,512.75 8,360,329.55 3,244.13 77,314,987.33
- - -
1,168.84 187,414.86 201.55 188,484.92 179.95 515,551.88 200.05 2,397,194.67
- 54,670.00 58.79 26,950.00 25.73 - - 81,620.00
142.38 126,592.00 136.14 126,592.00 120.86 126,592.00 49.12 632,960.00
- - - 38,500.00 36.76 - - 38,500.00
17.32 141,427.20 152.10 80,598.74 76.95 24,766.75 9.61 262,192.69
- 101,640.00 109.31 - - - - 101,640.00
- - - 2,808.37 2.68 - - 2,808.37
50.86 207,347.83 222.99 225,608.70 215.39 283,695.66 110.09 1,047,189.59
43.30 90.00 0.10 1,540.00 1.47 - - 40,130.00
1,689.18 - - - - - - 1,571,901.60
- - - 24,088.83 23.00 - - 29,109.23
826.94 347,076.00 373.26 164,514.64 157.06 302,694.03 117.46 1,683,662.66
13.86 279,682.46 300.78 5,660.00 5.40 26,951.00 10.46 324,613.46
80.98 192,200.00 206.70 - - - - 264,200.00
- - - 2,311.00 2.21 1,130.43 0.44 4,211.43
- - - - -
1,054.29 468,699.00 504.05 779,225.31 743.93 770,841.42 299.12 3,366,083.73
- - - 566,005.78 540.37 - - 566,005.78
- - - - - - - 1,600,000.00
1,054.29 468,699.00 504.05 1,345,231.09 1,284.30 770,841.42 299.12 5,532,089.51
2.26 - - - - - - 16,709.00
- - - - -
1,900.85 2,169,832.60 2,333.50 2,163,246.43 2,065.27 4,544,863.04 1,763.58 12,043,139.85
 77.96 80,010.93 86.05 89,114.19 85.08 190,958.99 74.10 491,055.31
8.80 12,701.57 13.66 13,878.07 13.25 29,738.73 11.54 74,863.77
- 22,225.26 23.90 24,753.94 23.63 53,044.16 20.58 100,023.36
1,987.60 2,284,770.36 2,457.11 2,290,992.63 2,187.23 4,818,604.92 1,869.81 12,709,082.29
- - - 11,239.00 10.73 - - 11,239.00
166.64 175,050.46 188.25 654,374.80 624.74 880,874.00 341.81 2,103,442.50
- 23,000.00 24.73 24,000.00 22.91 544,024.51 211.10 600,024.51
- 1,500.00 1.61 - - - - 1,500.00
- - - - -
- 0.59 1.59 118.29 0.11 64.89 0.03 183.77
- 0.59 1.59 118.29 0.11 64.89 0.03 183.77
- - - -
113.59 - 1.00 116,000.00 110.75 50,000.00 19.40 350,000.00
113.59 - 1.00 116,000.00 110.75 50,000.00 19.40 350,000.00
8.66 - - - - -
- - - 15,840.00 15.12 38,440.86 14.92 54,280.86
8.66 10,049.00 10.81 26,930.00 25.71 37,956.54 14.73 82,635.54
8.66 10,049.00 10.81 42,770.00 40.83 76,397.40 29.65 136,916.40
71.29 384,378.17 413.37 45,000.00 42.96 454,526.00 176.37 1,079,873.07
- - - -
49.82 339,683.90 365.31 214,861.00 205.13 188,112.00 72.99 864,956.90
104.68 - - - - - - 93,069.90
- 28,000.00 30.11 - - - 1.00 28,000.00
154.50 367,683.90 395.42 214,861.00 205.13 188,112.00 73.99 986,026.80
7,592.49 5,353,271.83 5,759.66 5,632,244.01 5,377.15 9,064,826.89 3,518.51 32,009,020.55
(20,315.98) (9,620,003.36) (10,348.24) 77,652,587.41 74,135.59 (704,497.34) (274.37) 45,174,618.44
- - - -
- - - -
- - 0.01 0.00 (6,626,655.18) (2,571.40) (6,626,655.17)
- 0.01 (6,626,655.18) (2,571.40) (6,626,655.17)

(20,315.98) (9,620,003.36) (10,348.24) 77,652,587.40 74,135.59 5,922,157.84 2,297.03 51,801,273.61

- 31,773,471.63 45,879,115.77 51,801,273.61

 USD

TOTAL

94,632.45
1,707.41
729.48
50.97
1,515.01
2,919.60
14,634.76
116,189.69
25,621.08
141,810.76
-
-
8,374.03
182.69
0.06
91.65
165.76
11.65
24,901.33
1,476.34
20,361.69
399.99
18,977.53
74,942.74
66,868.03
-
2,344.21
84.52
609.64
36.76
255.97
109.31
2.68
962.52
44.87
1,778.29
29.39
1,645.45
330.50
287.68
3.63
-
3,123.20
540.37
2,036.71
5,700.28
20.97
-
9,940.92
 401.67
60.90
68.12
10,471.61
10.73
1,633.29
270.21
1.61
-
1.73
1.73
-
350.40
350.40
8.66
30.04
59.91
89.95
872.77
-
792.54
104.68
31.11
928.33
28,877.27
37,990.76
-
-
(2,571.40)
(2,571.40)
-
40,562.16
 31 May 23
Debit Credit
800-001 · CABS 1,489.79
800-002 · CBZ ZWL 221.17
800-003 · FBC ZWL 4,863,210.77
800-004 · NEDBANK ZWL 3,301,692.11
800-005 · NEDBANK NOSTRO USD 0.00
800-006 · NEDBANK NOSTRO 29,687.73
800-007 · POSB 1,326.82
800-020 · Cash On Hand (USD) 0.00
800-999 · Interbank Transfers Suspense 933,000.00
820-000 · CASH ON HAND-USD 1,768,823.00
700-000 · Accounts Receivable 555,394.34
700-005 · Accounts Receivable - USD 104,296,094.38
700-010 · Receivables Suspense - USD 6,554,295.40
1200 · Undeposited Funds 424,400.00
700-050 · Liquid Retention Amounts 1,506,265.07
720-000 · Bulawayo Inter-company Account 40,800.00
730-000 · Tose Sonke Africa 1,223,959.80
735-000 · Other S T Loans & Advances 2,362,600.00
750-000 · Stock 383,361.39
865-000 · Deposits Paid 74,277.00
880-001 · Security Deposit - asset 50,384.00
610-000 · Computer Equipment:610-001 · Cost 86,213.75
610-000 · Computer Equipment:610-002 · Accumulated Depreciation 77,439.51
620-000 · Furniture and Fixtures:620-001 · Cost 28,159.53
620-000 · Furniture and Fixtures:620-002 · Accumulated Depreciation 13,548.21
625-000 · Office Equipment 55,000.00
630-000 · Motor Vehicles:630-001 · Cost 6,405,500.00
630-000 · Motor Vehicles:630-002 · Accumulated Depreciation 533,790.00
640-000 · Company Tools:640-001 · Cost 709,745.84
640-000 · Company Tools:640-002 · Accumulated Depreciation 589,143.68
2000 · Accounts Payable - USD 3,288,175.26
900-000 · Accounts Payable 2,254,600.30
2553 · Tax Account (Sales Taxes) 18,323,483.43
955-000 · NSSA Control 1,145,306.95
960-000 · PAYE Control 1,713,185.65
965-000 · NEC Control 56,305.02
970-000 · Salaries Control 1,874,887.37
980-000 · ZIMRA Payable 173,729.39
980-001 · Zimra Output Tax 9,629,266.29
980-002 · Zimra Input Tax 2,022,572.27
980-004 · Zimra Payments 1,014,561.09
981-000 · ZIMRA Income Tax Control 500,000.00
983-000 · Intercompany - Tose Sonke 10,993.00
984-000 · Intercompany - Bamboo Africa 2,805.41
999-999 · Suspense Account 21,283,672.96
3200 · Members Equity 813,651.10
400-000 · Share Capital Account 204,920.41
410-000 · Liquid Set-Off account 132,050.88
420-000 · Shareholders Loan Account 42,345,685.85
100-000 · Sales - Revenue 12,843,943.43
100-000 · Sales - Revenue:100-001 · VoIP - Support & Maintenance 110,305,766.57
100-000 · Sales - Revenue:100-003 · Hardware Sales 1,357,214.00
100-000 · Sales - Revenue:100-004 · Consulting Income 610,800.00
100-000 · Sales - Revenue:100-005 · LTE _ Bulawayo 40,040.00
100-000 · Sales - Revenue:100-007 · Fibre Sales 1,355,011.28
100-000 · Sales - Revenue:100-008 · Sales - Other Services 2,619,930.00
4990 · Uncategorized Income 320,507.18
200-000 · Cost of Goods Sold 323,443.00
200-000 · Cost of Goods Sold:200-001 · Hardware 7,515,227.11
200-000 · Cost of Goods Sold:200-002 · Labour 162,439.20
200-000 · Cost of Goods Sold:200-003 · Clearing Charges 57.00
200-000 · Cost of Goods Sold:200-005 · Software 96,000.00
200-000 · Cost of Goods Sold:200-006 · Freight & Clearing 173,626.00
200-000 · Cost of Goods Sold:200-007 · Stock Adjustment 10,314.35
200-000 · Cost of Goods Sold:200-008 · Other 27,086,527.64
200-000 · Cost of Goods Sold:200-009 · Internet Purchases - Tose Sonke 1,386,275.90
200-000 · Cost of Goods Sold:200-011 · Project Cost 22,025,108.98
307-000 · Bank Service Charges 2,397,194.67
312-000 · Computer Expenses 81,620.00
319-000 · Depreciation - expense 632,960.00
322-000 · Legal Fees 38,500.00
323-000 · Generator Fuel & Maintenance 262,192.69
325-000 · Fines and Penalties 101,640.00
326-000 · Operating expenses 2,808.37
327-000 · Office Expense 1,047,189.59
332-000 · Repairs & Maintenance - Office 40,130.00
333-000 · Management Fees 1,571,901.60
335-000 · Vehicle Expense 29,109.23
335-001 · Fuel & Oil 1,683,662.66
335-002 · Repairs & Maintenance 324,613.46
335-003 · Licensing & Insurance 264,200.00
335-004 · Parking Fees 4,211.43
340-000 · Rent and Rates 1,600,000.00
340-000 · Rent and Rates:340-001 · Rent Mt Pleasant 3,366,083.73
340-000 · Rent and Rates:340-005 · rent - Tata 566,005.78
346-000 · Printing & Stationery 16,709.00
353-000 · Gross Salaries:353-001 · Basic Salaries 12,043,139.85
353-000 · Gross Salaries:353-002 · NSSA Co. Contribution 491,055.31
353-000 · Gross Salaries:353-003 · NEC Co.Contribution 74,863.77
353-000 · Gross Salaries:353-004 · WCIF 100,023.36
357-000 · Protective Clothing 11,239.00
358-000 · Staff Welfare 2,103,442.50
358-001 · Staff Welfare - Harare 600,024.51
365-000 · Dues and Subscriptions 1,500.00
370-000 · Interest Expense:379-001 · Bank Interest 183.77
381-000 · Utilities:381-001 · Electricity charges 350,000.00
382-000 · Telephone 82,635.54
382-000 · Telephone:382-001 · Telephone charges - Harare 54,280.86
384-000 · Internet Charges 1,079,873.07
385-000 · Travelling and Entertainment 28,000.00
385-000 · Travelling and Entertainment:385-001 · Local Travel 864,956.90
385-000 · Travelling and Entertainment:385-002 · Foreign Travel 93,069.90
 120-000 · Other Income:120-003 · Uncategorised Income 8,564,519.61
150-000 · Uncategorised Income 17,775,445.25
77000 · Exchange Gain or Loss 6,626,655.17
TOTAL 248,433,774.07 248,433,774.07
 MORNFIRE MARKETING T/A MAC MOTOR ACCESSORIES

Revised Budget as at 30/6/12

Actual Actual Actual Actual Actual Forecast Forecast Forecast Forecast Forecast Forecast Forecast
Period Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total %
Turnover
Sales 48,993 48,334 61,396 27,949 41,186 60,000 104,000 104,000 184,000 202,400 202,400 202,400 1,287,058

Less : Cost of Sales (24,917) (44,785) (42,910) (25,776) (21,553) (36,000) (62,400) (62,400) (110,400) (121,440) (121,440) (121,440) (795,460)

Gross Profit 24,076 3,549 18,486 2,173 19,634 24,000 41,600 41,600 73,600 80,960 80,960 80,960 491,597
Gross Profit Margin % 49 7 30 8 48 40 40 40 40 40 40 40 38

Add : Other Income (1,600) 29 400 400 400 400 400 400 400 1,229

Total Income 24,076 3,549 16,886 2,173 19,662 24,400 42,000 42,000 74,000 81,360 81,360 81,360 492,826

Less : Operating Expenses

Advertising & Promotions 419 1,102 20 20 579 95 2,000 2,000 1,000 1,000 1,000 1,000 10,235 0.80
Accounting Fees 100 - - 120 - 850 850 850 935 1,047 1,047 1,047 6,847 0.53
Bank Charges 1,142 693 938 845 391 429 1,000 1,000 1,000 1,000 1,000 1,000 10,437 0.81
C E O expenses 450 910 382 600 427 354 650 650 650 650 650 650 7,023 0.55
Computer Expenses 60 25 54 - 185 75 260 260 260 260 260 260 1,959 0.15
Consulting Fees 250 1,414 1,245 765 615 310 310 310 310 310 310 310 6,459 0.50
Consumables - -
Courier & Postage 30 - 20 - 58 - 50 - 50 - 50 - 258 0.02
Depreciation : 883 431 1,314 0.10
Directors Fees/Emoluments 2,499 2,466 3,291 3,506 3,506 3,506 3,506 3,506 3,506 3,506 3,506 3,506 39,812 3.09
Donations - 30 - - - - 50 - 50 - - 500 630 0.05
Electricity & Water 417 200 116 185 151 151 200 200 200 200 200 200 2,420 0.19
Fuel - Compressor 29 41 35 49 17 7 50 50 50 50 50 50 478 0.04
Fines - -
General expenses - -
Insurance - 70 - - 440 600 600 120 - - - 120 1,950 0.15
Interest Paid - -
Legal Fees 284 - - - 300 2,356 1,260 - - - - - 4,200 0.33
Magazines & Newspapers 19 20 19 11 7 1 20 20 20 20 20 20 197 0.02
Office Cleaning & Hygiene - 25 9 51 25 - - - - - - - 110 0.01
Office Garden - -
Motor Vehicle Expenses : 1,966 2,001 2,387 2,751 3,157 1,083 3,500 3,500 3,500 3,500 3,500 3,500 34,346 2.67
Pastel Installation & Training 604 - - - - - - - - - - - 604 0.05
Printing & Stationery 229 289 298 225 188 129 200 200 200 200 200 200 2,558 0.20
Protective Clothing 337 - - - 6 - - - - - - - 343 0.03
Rent paid - building 2,750 2,450 2,650 2,750 2,750 2,750 2,750 2,750 3,300 3,300 3,300 3,300 34,800 2.70
Repairs & Maintenance : 325 411 373 2 50 - 2,600 2,600 1,300 1,560 1,560 1,560 12,341 0.96
Salaries & Wages 4,530 4,339 6,295 5,947 6,754 5,600 7,200 12,480 18,400 24,288 26,312 52,624 174,769 13.58
Staff Training 1,490 1,555 - - - - - - - - - - 3,045 0.24
Staff Welfare : 348 654 464 331 403 518 500 500 500 500 500 500 5,718 0.44
Hospitality - -
Security 450 350 350 350 350 350 350 350 350 350 350 525 4,475 0.35
Subscriptions - - 875 - - - - 400 - - - 400 1,675 0.13
Telephone & Fax : 577 349 516 581 830 485 850 850 850 850 850 850 8,438 0.66
Small Tools - - - - - - - - - - - - - - -
Sundries - - 4 695 - 15 500 - - - - - 1,214 0.09
Travel & Accommodation 358 93 1,553 229 87 34 200 34 200 34 200 34 3,056 0.24

Total 19,663 19,487 22,777 20,443 21,276 19,698 29,456 32,630 36,631 42,625 44,865 72,156 381,710 29.66

Net Profit Before tax #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Profit Margin % #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!

Year 2 - 2013
3 6 9 12
Months Months Months Months Total
Total Sales / Turnover - - - -
Cost of Sales - - - -
Gross Profit - - - -

Expenses and Other Costs - - - -

Total Profit/Loss - - - -

Loan Repayment 699 515 - 1,214

Gross Margin #DIV/0! #DIV/0! #DIV/0! #DIV/0!

Net Margin #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Loan as % of Gross Profit #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Loan as % of Net Profit/Loss #DIV/0! #DIV/0! #DIV/0! #DIV/0!
ASSET LISTING AND ADDITIONS 2011

Prepared by: Stelecoms Business Solutions

GL Detailed Ledger 01/01/2023 to 31/05/2023

Date Entry Type Reference

6200/010 : Motor Vehicles - @ Cost

Opening Balance as at 01/06/2011
30/06/2011 CB 1 Payments JUN CBK

Closing Balance as at 31/12/2011

6250/010 : Computer Equipment - @ Cost

Opening Balance as at 01/01/2011

Closing Balance as at 31/12/2011

6300/010 : Office Equipment - @ Cost

Opening Balance as at 01/06/2011
30/06/2011 CB 1 Payments JUN CBK
30/06/2011 CB 1 Payments JUN CBK
31/07/2011 CB 1 Payments JUN CBK
31/07/2011 CB 1 Payments JUN CBK
30/11/2011 CB 1 Payments NOV CBK
30/11/2011 CB 1 Payments NOV CBK
30/11/2011 CB 1 Payments NOV CBK
30/11/2011 CB 1 Payments NOV CBK
30/11/2011 CB 1 Payments NOV CBK
24/12/2011 General Journal J006

Closing Balance as at 31/12/2011

6350/010 : Furniture & Fittings - @ Cost

Opening Balance as at 01/12/2011
24/12/2011 General Journal J006

Closing Balance as at 31/12/2011

6600/010 : Plant & Equipment - @ Cost

Opening Balance as at 01/02/2011
17/02/2011 Purchases PN100004
15/12/2011 Purchases PN100002
Closing Balance as at 31/12/2011

MORNFIRE MARKETING T/A MAC MOTOR ACCESSORIES

TAX ALLOWANCES WORKINGS

LISTING OF ASSET ADDITIONS JAN - DEC 2011

DESCRIPTION TOTAL COST

Motor Vehicles -

Computer Equipment -

Office Equipment 301.00

Furniture & Fittings 301.00

Plant & Equipment 2,238.80

TOTAL 2,840.80
Description Debit Credit Cumulative

17,353.00
Tow Hitch 153.00 17,506.00

17,506.00

2,000.00

2,000.00

400.00
Cash - Cell phone 100.00 500.00
Cash - office eqpmt 56.00 556.00
Cash - Shelving 301.00 857.00
Cash - office eqpmt 166.00 1,023.00
payment 100.00 1,123.00
payment 55.00 1,178.00
payment 460.00 1,638.00
payment 260.00 1,898.00
payment 60.00 1,958.00
Realloc shelves to F&Fittings 301.00 1,657.00

1,657.00

5,300.00
Realloc shelves to F&Fittings 301.00 5,601.00

5,601.00

10,276.00
6600010 Compressor 746.26 11,022.26
6600010 Canopy Buffing Machine 1,492.54 12,514.80
 12,514.80

CCESSORIES

SIA BALANCE

710.2