NIT 1015307021

TELCHI LITEL LTDA

Balance sheet as of December 31, 2,021
(expressed in Bs.)

ASSETS
CURRENT ASSETS
Cash 31,582.00
Banks 2,009,390.00
Accounts receivable 2,497,662.00
Advances to suppliers 255,854.00
Inventory 48,701,481.00
TOTAL CURRENT ASSETS 53,495,969.00

NON-CURRENT ASSETS
Investment 29,220.00

Fixed asset
Lands 12,858,849.00
Buildings 974,139.00
Furniture and fixtures 960,210.00
Vehicles 2,877,704.00
Computer equipment 1,213,674.00
Laboratory equipment 1,043,626.00
Facilities and equipment 784,574.00
Computing software 79,356.00
Software license 139,675.00
Equipment machinery 273,207.00
Tools 4,574.00
21,209,588.00
Less: accumulated depreciation -5,020,162.00

TOTAL NON-CURRENT ASSETS 16,218,646.00

TOTAL ASSETS 69,714,615.00

LIABILITIES
CURRENT LIABILITIES
Contributions payable 156,444.00
Taxes payable 388,719.00
Suppliers payable 4,081,697.00
IUE payable 580,943.00
Wages payable 455,935.00
TOTAL CURRENT LIABILITIES 5,663,738.00
NON-CURRENT LIABILITIES
Long -term banking loans 7,148,854.00
Long term accounts payable 12,196,698.00
19,345,552.00
Provision
Compensation 4,022,497.00

TOTAL NON-CURRENT LIABILITES 23,368,049.00

TOTAL LIABILITIES 29,031,787.00

EQUITY
Share capital 8,000,000.00
Capital adjustment 1,937,124.00
Legal reserve 510,563.00
Technical revaluation 8,024,197.00
Equity reserves adjustment 1,399,987.00
Accumulates results 19,020,043.00
Profit Management 1,790,914.00

TOTAL EQUITY 40,682,828.00

TOTAL EQUITY AND LIABILITIES 69,714,615.00

Income Statements
January 1st - December 31st, 2021
(expressed in Bs.)

INCOME
For net sales 51,346,778.00
Less: cost of products sold -37,199,245.00
Gross profit in sales 14,147,533.00

Less: operational expenses

Administration expenses -11,364,877.00
Marketing expenses -2,281,182.00
Financial expenses -187,052.00
Operative result 314,422.00

Other income/expenses
Discounts 1,500,170.00
Tax compensation income 651,445.00
Maintenance of value 79
2,151,694.00
Managment results 2,466,116.00

CALCULATION OF THE TAX ON BUSINESS PROFITS

DETERMINATION OF THE CONTRIBUBLE NET

More / less regularizations

Non -deductible expenses 8,992.00
AITB regularization (148.009.00)
Depreciation Regularization -3,327.00
-142,344.00

Taxable net utility 2,323,772.00

Tax to utility (25%) 580,943.00

Usefulness of Management 1,885,173.00

Legal reserve 94,259

Net results of the management 1,790,914