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I

On The

FINANCIAL STATEMENTS

OF

MOULVI KHAWJA ABDULLAH WELFARE TRUST

, 16/1, Ahsanullah Road, Nawab Bari, Kotwali,

Dhaka - 1100,

FOR THE YEARIPERIOD ENDED ON }.rt .. P~~~m.h~r)009 .

. : .

• :. .! •

• !. .: •

• + ••••

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+:. +:+ +:+ +: •

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M. N. ISLAM & CO PA Y CHARTERED ACCOUNTANTS

123/4, Tejkunipara, Tejgaon, Dhaka-1215

Phone: 911:,3528 & 9113458 I..-,

(Y'

M. N~ ISL~M & COMPANY

- .'.~

CHARTERED ACC0~i.aT A~~15 123/4. Tejkunipara. Tcjgaon. Dhaka -- 12! 5, Phone: 088-2-9113528, u88-2-91 ~3458

Ref No.

Date: .

Auditor's Report

We have examined the annexed Balance Sheet of MOULVI KHAWJA ABDULLAH WELFARE TRUST, 16/1, Ahsanullah Road, Nawab Bari, Kotwali, Dhaka-1100 as at 31st December 2009 and the related Statement of Income & Expenditure and Statement of Receipt & Payments for the year ended on that date with books and records as maintained and produced to us for verification and after due verification we report that;

a) Preparation of these financial statements is the responsibility of the management of the organization; our responsibility is to express an independent opinion on these financial statements based on our audit. We believe that our audit provides a reasonable basis for our opinion.

b) To the best of our knowledge and belief, we have obtained all the information and explanations, which were required in course of our audit.

c) Such Balance Sheet & Statement of Income & Expenditure and Statement of Receipt & Payrnents exhibit a true and fair view of the state of the Organization's affairs as at 31"st December 2009 the result of its operation for the year then ended

d) Proper books of accounts as required by law were maintained by the Organization, so far as appeared from our examination.

e) The Balance Sheet & Statement of Income & Expenditure and Statement of Receipt & Payments are in agreement with the books of account rnaintained by the Organization and examined by us.

f) The Balance Sheet & Statement of Income & Expenditure and Statement of Receipt & Payments have been drawn up in conformity with the required by Law & Companies Act 1994.

,/ /\/,_~-c-

M. N.ISLAM & CO. Chartered Accountants.

M. N. Islam & Co.

Chartered Accountants

-

MOULVI KHAWJA ABDULLAH WELFARE TRUST

16/1, Ahsanullah Road, Nawab Bari, Kotwali, Dhaka-11 00.

Trust Account

Balance Sheet

As at 31st December, 2009

ISUBJECT MATTERS

I NOTES

AMOUNT(TK.)

APPLICATION OF FUNDS:

Fixed Assets- at Cost

Long Term Security Deposit Investment in Trust Shares Deposit for Share

Deposit (MMPDR)

2.00 3.00 4.00

Current Assets:

Short Term Loan

Adavnce Suit Cost (For Zinzira Case) Adavnce to Mr. Shakir

Adavnce Salary

Bills Receivable

Cash & Bank Balances

Total:

5.00 6.00 7.00 8.00 9.00 10.00

ISOURCES OF FUNDS:

Fund Balance

11.00 12.00 13.00 14.00 1500

Development. Reserve Fund Charity Fund

Beneficiaries Interest Fund Trustees Commission Fund

Current Liabilities:

Advance From Gulshanara City Adavnce From Rahmatullah Provision For Municipality &

Settlement Tax Provision For House Rent Provision For Audit Fee Provision For Expenses

Depsit (Miss Laddos Marriage) Receipt from Pond Accounts

16.00 17.00

18.00 19.00 20.00 21.00

Total:

4,438,117.00 18,000.00 23,500.00 250,000.00 9,000,000.00

2,126,213.93

7,00000 227,882.00 111.690.00 30,305.00 352,000.00 1,397,336.93

15,855,830.93

3,405,206.96 1,602,341.33 1,102,530.69 7,976,198.59

866,172.36 .

903,381.00

500,00000 - 200,000.00

47,683.00 12,450.00 10,000.00 33,048.00 60,000.00 40,200.00

15,855,830.93

Signed in terms of our report

)-(_ti. ~l~ (}.J.;j

Chairman

~

Secretary

(MKAWT)

(MKAWT)

of even data annexed.

_,/\, \.._,-'-----~ Auditor M.N.lsfam & CO.

Chartered Accountants

(MKAWT)

"

Chartered Accountants

MOULVI KHAWJA ABDULLAH WELFARE TRUST 16/1, Ahsanullah Road, Nawab Bari, Kotwali, Dhaka-11 00.

Off Balance Sheet As at 31 st December, 2009

Subject Matters

AMOUNT(TK.)

Land

600,000,000.00

600,000,000.00

Notes:

a) We were reported by the management that the trust has got land acquired by both purchases and agreement which were not accounted for since litigation is pending, the market value which were estimated as above tk. 60 (Sixty) Cores.

Signed in terms of our report of even data annexed.

?x\r4Y:'

Treasurer

Chairman

Secretary (MKAWT)

(MKAWT)

(MKAWT)

"~'-=-~~ Auditor

M.N.lslam & CO.

Chartered Accountants

MOULVI KHAWJA ABDULLAH WELFARE TRUST

16/1, Ahsanullah Road, Nawab Sari, Kotwali, Dhaka-11 00.

Trust Account

Statement of Income and Expenditure

For the year ended 31st December, 2009

op Rent (Abdullah Market) Shop Rent (Gulshanara City)

Sininq Money from Gulshanara City Footpath Rent

Name Transfer Fee

Calender Purpose Income

Receive from M T C

Divident from share

Others Income

Sales of nomination paper Bank Interest

Settlement Tax

Total (A):

Is. EXPENDITURES:

22

Salary & Allowances Bonous

Wages

Office Rent Conveyance Entertainment Printing & Stationery

Postage, Courier & Revenue Stamp Repairs & Maintenance

Calender purpose Expenses Advertisement

Presented to Mrs Shafiuddin General Meeting Expense Legal Expense

Gift-

Accounting & Consultancy Fee Donation & Subscription Newspapers & Periodicals Telephone & Mobile Bill

Drafting deed expenses Ernulument paid for rent collection Miscellaneous Expense

Chada

Audit Fee

Tax on profit

Citycorporation Tips

Vedio Expenses

Bank Charges & Commission Adbullah Day Anniversary Mutation Expenses

Eid Fastival Expenses Election Expenses

House Rent Tax

Depreciation

Total (B)

Excess of Income over Expenditure (Net Income before Appropriation) (A-B) Total:

~~Ll~:~1

Chairman (MKAWT)

Secretary (MKAWT)

l§

~surer (MKAWT)

AMOUNT (TK.) 2009

444,155.00 996';000.00 10,500,000.00 428,000.00 174,000.00 21,800.00

5,000.00 1,566.00 10,407.00 39,000.00 195,038.60

30,000.00

12,844,966.60

301,921.00 64,585.00 14,870.00 72,000.00 16,071.00 68,759.00 25,449.00

8,565.00 2,700.00 42,000.00 700.00 10~000.00 236,435.00 264,618.00 17,000.00

5,000.00

16,000.00 2,363.00 9,155.00 5,000.00

18,000.00 21,401.00 15,000.00 10,000.00

767.31 5,000.00 2,000.00 6,700.00

12,006.00 105,550.00 5,000.00 83,860.00 49,800.00 237,812.00 1,756,087.31

11,0882879.29

12,844,966.60

L\'\'.~~"--{::.~ Auditor M.N.lslam & Co.

Chartered Accountants

IVIUULVI t\.HAVVJA AOUULLI-I.n VVCLrl-l.l'\C I r.uv I 16/1, Ahsanullah Road, Nawab Sari, Kotwali, Dhaka-1100.

Trust Account

'.

Statement of Receipts and Payments For the year ended 31st December, 2009

AMOUNT(TK.) 2009

jPARTIGULARS

RECEIP:rS:

Opening Balances:

Cash in Hand Cash at Bank

Shop Rent (Abdullah Market) Shop Rent (Gulshanara City) Footpath Rent

Loan Refund (Mr. Motaher) !>lame Transfer Fee . Receipt from Pond Committee Calender Purpose tncome • Deposit from Miss. Laddu

Sin;lg Money from M T C Lease Re~eive from M T C

Receive from MIS Simanto enterprize (otd building) Divident from share

Advance Salary Refund

Received from M T C (Sattalment Tax) Others Income

Sales qf nomination paper Bank Interest

Total Re.ceipts :

!PAYMENTS:

Salary & Allowances Bonous

Wages

Office Rent Conveyance Entertainment House Rent Tax Deposit tor share Printing & Stationery

Postage, Courier & Revenue Stamp Repairs & Maintenance

Calender IlIJrpose Expenses Municipality Tax

flIdvertisement

Presented t6 Mrs Shafiuddin General Meeting Expense Legal Expense

Gift

Accounting & Consultancy Fee Donation &, Subscription

Fan & Batt~ry purchase Newspapefs & Periodicals Telephone & Mobile Bill

Drafting deed expenses Emutument paid for rent collection Miscellaneous Expense

Chada

Audit Fee'

Sattalement tax

Beneficiaries tnterest

Tax on profit

Marriage Charity

Medical Charily

Citycorporation Tips

Trustees Commission

Vell.lo Expenses

Bai'lt.Charges & Commission Deppslt (MM PDR)

Advance Salary

Adbu[lah Day Anniversary Mutation Expenses

Eiljl F~"stival Expenses Election Expenses

T'lial Payments:

Dlosing Balances:

Cash in Hand Cash al Bank

.,

~l\~V'4A~

Chairman (MKAWJ)

\\ - ~~ ~J_

Secretary

(MKAWT)

(MKAWT)

•

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300,921,00 64,585,00 14,870.00 72,000,00 16,071.00 68,759,00 49,800,00

250,000.00 25,449.00 8,565,00 2,700.00 42,000,00 31,551.00 700.00

10,000.00 236,435,00 264,618.00 17,000.00 5,000.00 16,000.00 11,194.00 2,413,00

9,155.00 5,000,00 18,000.00

21,401.00 15,000.00 10,00000 53,544.0~

1,638,535.00 767,31

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Auditor

M.N.lslam & Co.

Chartered Accountants

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Chartered Accountants

MOULVI KHAWJA ABDULLAH WELFARE TRUST 16/1, Ahsanullah Road, Nawab Sari, Kotwali, Dhaka-11 00 .•

Notes to the Financ!al Statements For the year €;nded 31st December, 2009.

FORMING AND INTEGRAL. PART O~ THE FINANCIAL STATEMENTS

1.00: PRESENTATION OF FINANCiAL STATEMENTS:

1.01: Legal Status of the Trust:

Moulvi Khwaja Abdullah Welfare Trust was indentured on the 3rd day of the month of September, 1959 and the 1 ih day of the month of Bhadra 1366 of the Bengali Era.

1.02 : Address and Principal place of the Trust:

The Principal place of the Trust at 16/1, Ahsanullah Road, Nawab Bari, Kotwali, Dhaka-1200.

1.03 : Principal Object of the Trust:

The principal object of the Trust, the vesting of the properties in the Trust shall be for the benefit of the heirs of Moulvi Khwaja Abdullah, the Ancestor of the Dhaka Nawab Family, for the benefit of their children and descendants from generation to generation excluding the defendants of title suit nco 130 of 1957, of the first Subordinate Judge's Court, Dhaka

...

and their descendants fro I n generation to generation and ultimately for the

benefit of the poor.

1.04: Accounting Policies:

The Financial Statements have been compiled under the Historical cost Convention in accordance with the International Accounting Standards (lAS) as adapted by' the '(nstitute of Chartered Accountants of Bangladesh (ICAB).

1.05: Fixed Assets:

Fixed Assets have been presented in the Financial Statements at the W.D.V.

1.06 : Depreciation:

Depreciation is charged on Reducing Balance Method during the year. .

1.07: Reporting Period:

Financial Statements of the Trust cover one calendar year from 1st January to 31st December consistently.

M. N. Islam & Co.

Chartered Accountants

2.00 Fixed Assets At Cost Tk. 44,38,117.00

(As per annexed Schedule)

3.00 Long Term Security Deposit Tk. 18,000.00

This represents security deposit with utility provider as follows:

Particulars

Bangladesh Telecommunication Company Ltd (BTCL) :

Balance C/F

Amount(Tk.)

18,000.00

Total Taka as at ar= December, 2009

18.000.00

4.00 Investment in Trust Shares Tk. 23,500.00 This is made up as follows:

SI. Date of Beneficiary Name of Beneficiary Face Purchase
No. Purchase Serial No. whose shares has value of value of
been purchased Shares Shares
1. 15-03-1998 655 Kazi Azizullah 4.27 - 3,500.00
2. 15-03-1998 995 Md. Amin 3.03 2,000.00
3. 15-03-1998 1425 ~ Hasnain Miah 8.23 2,500.00
4. 19-05-1998 209 i K. Dedar 4.05 2,000.00
5. 08-03-1999 1424 Md. Hanif Miah 8.23 2,500.00
6. 03-09-2001 1675 Raziuddin 49.33 5,000.00
7. 24-04-2006 1429 Diloo Begum 4.11 2,000.00
8. 11-06-2006 1428 Nasreen Begum 4.11 2,000.00
9. 12-09-2006 1427 Mahera Begum 4.11 2,000.00
Total Taka as at 31st December, 2009 231500.00 5.00 Short Term Loan Tk.7,000.00

This represents unsecured loan given to Trustees & Beneficiaries without interest. Details of such loaners are given below:

Particulars

Mr. Motaher Balance C/F

Add: Addition this year

Amount{Tk.)

11,000.00 . 0.00

11,000.00 4,000.00

Less: Adjusted this year Total:

,_ 7'.,__OOO.OO

M. N. Islam & Co. Chartered Accountants

6.00 Advance Suit Cost (For Zinzira Case) Tk.2,27,882.00

This represents advance suit cost carried from last year's audited accounts.

Which is yet to be recovered. ...

.7.00 Advance to Mr. Sakir Tk. 1,11,690.00

Balance C/F

Less: Adjustment during this year. Total:

1,15,400.00 3,710.00

1,11,690.00

Observation:

We observed that, Mr. Sakir, Chairman of the Trust has taken Tk. 1,11,690.00 as advance and the amount has been carried since 2005.

Suggestion:

The advance amounts Tk. 1,11,690.00 should be recovered/adjusted from Mr. Sakir (Charman) as soon as possible.

8.00 Advance Salary Tk. 30,305.00 This consists of:

Particulars Balance C/F

Add: Addition this year

Amount(Tk.) 6,500.00 90,000.00

Less: Adjusted this year Total:

96,500.00 66,195.00

30,305.00

9.00 Bills Receivable Tk.3,52,OOO.00 This is made up as follow;

Particulars

i) Gulshanara City ii) Footpath Rent Total:

Amount(Tk.} 3,12,000.00 40,000.00

10.00 Cash and Bank Balances Tk. 13,97,336.93 This consists of:

Particulars

- (i) Cash in Hand (ii) Cash at Bank Total:

Amount(Tk.) 16,381.00 13,80,955.93 13,97,336.93

'\ ". ~ ....

M. N. Islam & Co. Chartered Accountants

11.00 Fund Balance Tk. 34,05,206.96

This is made up as follows (As assumed on 31.12.2009); Particulars

Opening Fund Balance

Add: Transfer from Beneficiary Fund . Add: Transfer from Charity Fund

Less: Transfer to Development Fund Transfer to Charity Fund Transfer to Beneficiary Fund

2,80,000.00 2,60,000.00 17,50,000.00

Amount(Tk.) 5§,74,053.10 35,153.86 86,000.00 56,95,206.96

22,90,000.00 34.05.206.96

Total Closing Fund Balance (31-12-2009) : 12.00 Development Reserve Fund Tk. 16,02,341.33

This is made up as follows Particulars

Balance CIF

Add: 10% transfer from Net Profit Add: Transfer from Fund Balance

Total Closing Fund Balance (31-12-2009) :

Condition, According to deed:

10% of the net income is to be earmarked as development reserve fund.

Observation:

We observed that the opening balance of development reserve fund was Tk. 2,13,453.40 During the year Tk. 11,08,887.93 should have been deposited into the development reserve fund on the basis of net income. But the closing balance of the fund as per bank statement is found Tk. 46,885.67 creating a excess deposit of Tk. 15,55,455.66 which needs to be might have been transferred to General Fund.

Amount(Tk.) 2,13,453.40 11,08,887.93 2,80,000.00

16,02,341.33

13.0 Charity Fund Tk. 11,02,530.69

This is made up as follows; Particulars

Balance CIF

Add: 10% transfer from Net Profit Transfer from Trust

Amount(Tk.), 32,642.76 11,08,887.93 2,60,000.00

141,.01,530.69

Less: Paid this year Transfer to Fund

2,13,000.00 86,000.00

Net Closing Fund Balance (31-12-2009) :

2,99,000.00

11,02,530.69

Observation:

We further observed that frequent transfer from one fund to other fund is brief made for the operation of Trust which is against the instruction of Trust Deed. Steps to be made to refries from such practice in future and whoever such occasion arises a decision of ,the board of Trust should be taken explaining the reason to such misappropriation of

accounts ..

M. N. Islam & Co. Chartered Accountants

Suggestion:

We suggest that, the expenditure should be made in accordance with current year's . : '

share of vide 10% of Net Income.

14.00 Beneficiaries Interest Fund Tk.79,76,198.59

This is made up as follows

Particulars

Balance C/F

Add: 70% transfer from Net Profit Transfer from Trust

I'.:

Amount(Tk.) 1,37,671.95 77,62,215.50 17,50,000.00

06/10,887.46

Less: Paid this year Transfer to Fund

16,38,535.00 35,153.86

Net Closing Fund Balance (31-12-2009) :

15.00 Trustees Commission Fund Tk.8,66,172.36

This is made up as follows

Particulars

Balance C/F

Add: 10% transfer from Net Profit

16,73,688.86

Amount(Tk.) 7,284.43 11,08,887.93

11,.16,172.36 2,50,000.00

Less: Paid this year

. .Total Closing Fund Balance (31-12-2009):

8,66,172.36

Observation:

We observed that 10% commission has been taken by the Trustees of the Board instead of 5% as directed by the Trust Deed at clause-18. We .ware informed that during the AGM held on the year 2007, the beneficiariesbf the Trust decided that the Trustees should get 10% instead of 5% commission and-future that development fund to be reduced to 5% from 10% of the net income. We feel that a legal authority should

, be take to make amendment is the instruction of Trust Deed .to legally the matter.

,-. .

,-, " -I

- ,

It has been received that the instruction of Trust Deed,at Clause-18(i-iv) is not followed strictly and the dividend to the beneficiaries is being distributed without reacheiv net

lncorne..

., .

Suggestion:

We suggest that before taking decision for payment of dividend as internal, audit must be performed to regularized yearly audit at the end of the year.

16.00 Advance from Gulshanara City Tk.5,OO,OOO.00 This is made up as follows

Particulars

Balance C/F

Add: During this year

i

: '

Amount(Tk.) 5,05,000.00 0.00

. ! ' -

, "

-,! . ." -::

Less: Refund During this year

Total Closing Fund Balance (31-12-2009) :

5,05,000.00 5,000.00

I',:

5,00,000.00

\

M. N. Islam & Co.

Chartered Accountants

17.00 Advance from Rahmatullah Tk. 2,00,000.00

This refers to previous balance,

18.00 Provision for Municipality & Settlement Tax Tk. 47,683.00 The movement of such provision is as follows:

Partlculars i.vv:" Amount(Tk.) Amount(Tk.)

. A. Provision for Municipality Tax (Opening) 53,750.00

Addition during the: year 0.00 \

53,750.00

Less: Paid during the year 31,551.00

Total-A 22,199.00

. ~.

B.

Provision for Settlement Tax (Opening) Addition during the year

79,028.00 0.00

79,028.00 53,544.00

Less: Paid during the year

Total-B

Total Balance as at 31st December, 2009 (A+B)

,

25,484.00

47.683.00 '

19.PR Provision for House Rent Tax Tk.12,450.00 Particulars

Opening Balance

Add: Provision during the year

..

Less: Adjustment during the year

Total Balance as at 31st December 2009

Amount(Tk.) -12,450.00 49,800.00 62,200.00 49,800.00 12,450.00

, :. ,.,

:',1

20.00 Provision for Audit Fee Tk.10,000.00

This is made up as follows:

Particulars

Opening Balance Addition during the year

. -'

Less: Adjustment during the year

Total Balance as at 31st December 2008

Amount(Tk.} 10,000.00 10,000.00 20,000.00 10,000.00

-10.000.00

. ;

.

21.00 Provision for Expenses Tk. 33,048.00

Particulars

i) Salary

ii) Office Rent iii) Newspaper

iv) Telephone Bill

Total Balance as at.at" December 2009

Amount(Tk.) 26,218.00 6,000.00 170.00 660.00 33.048.00

. .,. . ~

, '. c'

M. N. Islam & Co. Chartered Accountants

22.00 Salary & Allowance

.r«. 3,01,921.00

I

This is made up as follows:

Particulars Paid this year

Add: Addition this year

Amount(Tk.) 3,00,921.00 26,218.00 3;27,139.00 25,218.00 3,01,921.00

, ,

\-

\~'-

Less: Adjustment last year accounts Total Balance as at 31st December 2009

" ,_'

23.00 General:

23.01 : Beneficiaries Interest Fund:

Condition: (According to Deed)

70% of the net income to be distributed among the beneficiaries in accordance with the respective right of inheritance of every individual beneficiary as per Mohammedan Law of inheritance of the Hanifi Sect.

Observation:

We observed that separate bank account has been maintained for beneficiaries interest fund after due calculation of 70% of net income and distributed amongst the

I I.i .

beneficiaries in accordance with Mohammedan Law of inheritance.

..

Suggestion:

We suggest that, the Board of Trustees should follow the rules of deed before such distribution/payment.

23.02 Trustees Commission Fund:

Condition: (According to Deed)

5% of net income to be equally distributed amongst the trustees of the Board of trustees.

..' -;-.

- , ~ .

Observation:

We observed that payment was made before determining the actual net income. As a result Tk. 2,50,000 was distributed among the trustees, against Tk. 11,16,172.36. So, Tk. 8,66,172.36. will be the balance of trustees commission fund.

Suggestion:

We suggest that, the Board of.Trustees should follow the rules of deed before such distribution/payment.

:' T·· '.

+ , ! •.

. , ~

M. N. Islam & Co.

Chartered Accountants

11.1

23.03 Maintenance of Vouchers:

Observation: .,

We observed that stilI now the books of accounts are not maintained properly.

., I

Suggestion:

Cash Book, General Ledger Book, Salary Register, Cash Memo, Debit Voucher, Credit Voucher, Bank Received Voucher, Bank Payment. Voucher, Cheque Issue Register and

l

Assets Register should be maintained properly by the management.

11.1

~ I

M~ N. ISLAM & COMPANY

CHARTERED ACCOUNTANTS 12314, Tejkunipara, "Tejgaon, Dhaka - 1215, Phone :088-2-9113528, 088-2-9113458

Ref No.

Date: .

:' ' .. ~ . ~.

Auditor's Report,

We have examined the annexed Balance Sheet of MOULVI KHAWJA ABDULLAH WELFARE TRUST, Pond Account 16/1, Ahsanullah Road, Nawab Bari, Kotwali, Dhaka-1100 -as at 31st December 2009 and the related Statement of Income & Expenditure and Statement of Receipt & Payments for the year ended on that date with books and records as maintained and produced to us for verification and after due verification we report that;

I a) Preparation of these financial statements is the responsibility of the management of the Organization; our responsibility is to express an independent opinion on these financial statements based on our audit. We believe that our audit provides a reasonable basis for our opinion.

b) To the best of our knowledge and belief, we have obtained all the information and explanations, which were required in course of our audit.

';-.' :' , ,~J' •

c) Such Balance Sheet & Statement of Income & Expenditure and Statement of Receipt & Payments exhibit a true and fair view of the state of the Organization's affairs as at 31st December 2009 the result of its operation

for the then ended

~':- ',-

d) Proper books of accounts as required by law were maintained by the Organization, so far as appeared from our examination.

e) The Balance Sheet & Statement of Income & Expenditure and 'Statement of Receipt & Payments are in agreement with the books of account maintained by the Organization and examined by us.

,

f) The Balance Sheet & Stalernenl of Incorne & Expendllure and Staternenl of Receipt & Payments have been drawn up : in conformity with the required by Law & .Companies Act 1994.

~ b. ISLAM & ~O.

Chartered Accountants.

" ,_.

• J ~ • •

M.N.lslam & Co.

Chartered Accountants

MOULVI KHAWJA ABDULLAH WELFARE TRUST

16/1, Ahsanullah Road, Nawab Bari, Kotwali, Dhaka-11 00.

,

Pond Account

Balance Sheet

As at 31stDecember, 2009

ISUBJECT MATTERS

NOTES

AMOUNT (TK.)i

iAPPLlCATION OF FUNDS:

Fixed Assets (WDV) : (As per schedule)

20,160.00

Current Assets:

Bills Receivable Short Term Loan Adavnce Salary

Paid to Trust Account Cash & Bank Balances

1.00

328,889.81 6,000.00 0.00 6,000.00 40,200.00 276,689.81

2.00

Total:

349,049.81

ISOURCES OF FUNDS:

Fund Balance

Add: Excess of Income over Exp. (Net Income)

278,474.22 68,075.59

n,

346,549.81

Current Liabilities:

Provision For Expenses

3.00

2,500.00

Total:

349,049.81

Socrotary (MKAWT)

~~

Tfonauror

Signed in terms of our report of even data annexed.

'. " :'.! ~ '. "

- I ~ •

»tLL~i

Chalrrnnn' (MKAWT)

(MKAWT)

~~O'Ny--

Auditor

M.N.lslam & CO. Chartered Accountants

." ,

I ~'

M.N.lslam & Co'.

Chartered Accountants

MOULVI KHAWJA ABDULLAH WELF.ARE TRUST 16/1, Ahsanullah Road, Nawab Sari, Kotwali, Dhaka-11 00.

Pond Account

I IJ

Off Balance Sheet As at 31 st December, 2009

Subject Matters

AMOUNT(TK.)

Lease Rental Receivable - Pond

241,735.00

, " ~,. ..

..' .,

- ,7

241,735.00

Notes:

a) There is an outstanding lease rental receivable many of pond amounting tk.241 ,735.00 which is to be recovered for the purpose auttienticated audit next year or written off by the Soard of Trust.

Signed in terms of our report of even data annexed.

" ','

~

Secretary

(MKAWT)

.~w

Treasurer

(MKAWT)

>l..w~/'

" Chairman

(MKAWT)

I IJ

~ '-s--i_._ Auditor M.N.lslam & Co.

Chartorod Accountants

M. N. lslarn & Co. Chartered Accountants

",.;_'; ..

MOULVI KHAWJA ABDULLAH WELFARE TRUST 16/1, Ahsanullah Road, Nawab Bari, Kotwali, Dhaka-11 00.

Pond Account

Statement of Receipts and Payments For the year ended 31st December, 2009

IRECEIPTS:

AMOUNT(TK.) 2009

Opening Balances:

Cash in Hand

Cash at Bank

Rental Income (Pond) Sale of Ticket (Angling) Sales of Fish (Neeting)

Return from K.M. Arjoo (10% Commission) Bank Interest

Loan Relise(Pond Committee)

215,074.22 3,510.00 211,564.22 266,587.00 28,305.00 29,655.00 1,772.00

12,451.74 5,000.00

Total Receipts:

558,844.96

IPAYMENTS:

Salary & Allowances Wages

Conveyance Entertainment Printing & Stationery

Donation & Subscription (Tran Tahabil) Repairs & Maintenance

Advertisement (Bichitra)

LegafExpense (Court fee & stamps) Bank Charges & Commission

Paid to Benificary @ 100

Tax on Profit

Pond Equipment

Paid to Trust Account

Commission to Late K: M. Arjoo (10%) Genrator Bill

Electric Equipments

Chadty paid (K. M. Shamim) Electric Bill'

Extry Supervissionary Expenses (All Trustee Member) Loan (Pond Committee)

Fish Purchases

Miscellaneous Expense

Total Payments:

Closing Balance:

Cash in Hand Cash at Bank

47,331.00 11,660.00 175.00 503.00 427.00

10,000.00 11,854.00 1,500.00 250.00 350.00

135,200.00 1,245.15 3,780.00 5,000.00 9,877.00

800.00 350.00 5,000.00 3,613.00

20,000.00 5,000.00 6,000.00 2240.00

282,155.15 276,689.81 1,547.00 275,142.81

558,844.96

Total:

Secretary (MKAWT)

~~

Auditor

M.N.lslam & Co:

'?4.l\ QJI~ ~

Chairman (MKAWT)

(MKAWT)

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Chartered Accountants.

MOUlVI KHAWJA ABDULLAH WELFARE TRUST 16/1,-0hsa!,)u!lah Road, Nawab Bari, Kotwali, Dhaka-llOO.

Pond Account

Notes to the Accounts As at31 st December, 2009

Notes - 1: Short Term Loan

Balance elF

K. Qayyum Reja

Tk. :

Nil 0.00 5000.00

.~ ... _!

5,000.00 5,000.00

t.'

Less: Realized this year

Total: I

!.

Nil

Notes - 2 : Paid to Trust Accounts

• Opening Balance Add: During the year Total:

Tk. :

40,200.00 35,200.00 5,000.00

40,200.00

Notes - 3 : Provision for Salary

Opening Balance

Add: Addition this year

2,500.00 2,000.00 2500.00

Tk. :

Less: Adjustment during the year Total:

4,500.00 2,000.00

2,500.00

Notes - 4 : Salary & Allowance

Paid during the year Add: Addition this

Tk. :

47,831.00 47,331.00

Less: Adjustment (Last year) Total:

49,831.00 2,000.00

.47,831.00

General Observation:

We have observed that the properties of Trust as referred to Trust Deed are at no. 5

and 6 Ahsanullah Road and no. 5 Wise hat Road, and the property mentioned as pond' does not belong to MOULVI KHAWJA ABDULLAH WELFARE TRUST instead it is said 'to be administered by Nawab Family Welfare Trust as has been informed. As such street disciplining in case of maintain accounts of pond must be fallowed and no amalgamation of accounts of Trust and pon should to made any time. Moreover the reason for distributing Tk. 100.00 per head among the beneficiaries of Trust could not also be clarified.

"

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