Adler Engineering Services Limited

Statement of Financial Position

As at 31st December, 2020

Note
2020 2019
ASSETS =N= =N=
Property, Plant and Equipment 5 24,867,760 29,474,876

Total non- current asset 24,867,760 29,474,876

Current Assets
Trade Receivables 6 - 9,329,427
Other receivables 7 60,817,884 58,577,170
Cash and cash equivalents 8 4,046,960 2,172,312
TOTAL ASSETS 64,864,844 70,078,909

TOTAL ASSETS 89,732,604 99,553,785

LIABILITIES
Non-current Liabilities
Director's Current A/c 9 75,822,641 26,631,776
Total non-current liabilities 75,822,641 26,631,776

Net Tax Provision 14,500

Trade payables 10 - 2,250,000
Provision & Other Payable - 33,592,533
Total current liabilities - 35,857,033
Total liabilities 75,822,641 62,488,809
EQUITY
Share capital 11 10,000,000 10,000,000
Revenue Reserves 12 3,909,963 3,811,176
Capital Contribution - 23,253,800
Total equity 13,909,963 37,064,976

TOTAL EQUITY AND LIABILITIES 89,732,604 99,553,785

Approved by the Board of Directors on ……………………………….,2021 and signed by

____________________ ______________________

The Accompanying notes are an integral part of these financial statements

d signed by
Adler Engineering Services Limited
Statement of Profit and Other Comprehensive Income
As at 31st December, 2020

Note Year ended 31 December

2020 2019
Continuing operations =N= =N=
Revenue 69,308,148 65,241,810
Cost ofSales (42,597,058) (37,663,140)
Gross Profit 26,711,090 27,578,670

Administrative Expenses (26,612,303) (26,516,207)

Profit before Tax 98,787 1,062,463

Tax Provision - (309,900)

Other comprehensive income for the year, net of tax 98,787 752,563

Earnings Per Share 0.01 0.12

2
ded 31 December
Adler Engineering Services Limited
Statement of changes in owner's equity
As at 31st December, 2020

Revenue Capital
Share capital Reserve Contribution
Balance at
1 January, 2020 10,000,000 3,811,176 23,253,800
Comprehensive income
Profit or loss (+/-) 98,787 -

Total other comprehensive income - -

Balance at
31 December, 2020 10,000,000 3,909,963 -
Total equity

37,064,976

98,787

98,787

13,909,963
 Jan-21
Office Supplies 20000
Prepaid 75000
Depreciation 96000
Deferred Revenue Earned 75000
Interest on Long Term Debt 60000
Salary Payable 60000
Income Tax
Adjusted Trial Balance
Cash 1,160,000.00
AR 150,000.00
Inventory 300,000.00
Office Supplies 60,000.00
Prepaid Rent 75,000.00
Equipment 800,000.00
ADepreciation 200,000.00
AP 100,000.00
Wages Payable
Interest Payable
Income Tax Payble
unearned(Defered) Revenue 250,000.00
Long term d 500,000.00
Common stock 1,000,000.00
Retained Earnings 250,000.00
Sales Revenue 545,000.00
Office Supplies
Wages Expense 300,000.00
Depreciation Expense
Interest Expense
Rent Expenses
Income Tax Expenses
Total 2,845,000.00 2,845,000.00