Professional Documents
Culture Documents
Assignment of FIN 501
Assignment of FIN 501
2009
Taka
CURRENT ASSETS
1,172,765.00
Cash and bank balances
603,110.00
Deposit accounts
560,177.00
Current accounts
25,840.00
Collection accounts
16,831.00
Cash in hand
262.00
Advances, Deposits, prepayments and other receivables:
46,041.00
To suppliers
18,148.00
To employees
783.00
Due from associated undertaking
1,125.00
Deposits
1,486.00
Prepayments
4,314.00
Excise duty
4,057.00
Advance tax net
7,891.00
Sales tax refundable -net
Derivative foreign currency options used as hedging instrument
Interest accrued
1,002.00
Prepaid arrangement fee for loans
Margin on letters of credit
Other receivables- Considered goods
8,235.00
Others
TRADE DEBTS
107,231.00
Unsecured
25,021.00
Considered goods
23,454.00
Considered doubtful
1,567.00
Secure-considered goods
83,777.00
Less: Provision for doubtful debts
(1,567.00)
STOCK IN TRADE
55,931.00
Raw and packing material
18,469.00
Work in process
11,624.00
Finished goods
25,838.00
STORES, SPARES AND LOOSE TOOLS
360,452.00
Stores
107,633.00
Spares
244,514.00
Loose tools
8,305.00
DEFERRED TAX ASSETS - NET
337,140.00
LONG TERM DEPOSITS
46,611.00
LONG TERM ADVANCES - Considered
9,000.00
FIXED ASSETS - Tangible:
4,658,272.00
Property, Plant and equipment
4,658,272.00
Total Assets
6,223,788.00
2008
Taka
574,460.00
197,088.00
137,433.00
21,326.00
38,275.00
54.00
73,583.00
34,044.00
449.00
1,127.00
1,313.00
10,606.00
9,911.00
3,774.00
2,175.00
645.00
9,539.00
44,789.00
23,833.00
22,266.00
1,567.00
22,523.00
(1,567.00)
61,600.00
15,224.00
27,761.00
18,615.00
197,400.00
71,837.00
118,324.00
7,239.00
570,039.00
36,600.00
4,729,254.00
4,729,254.00
5,910,353.00
CURRENT LIABILITIES
1,207,946.00
Current portion of long term financing:
552,995.00
Short term borrowings - secured:
308,876.00
Markup accrued:
69,357.00
Trade and other payables:
275,718.00
Creditors
45,969.00
Accrued liabilities
67,119.00
Retention money
10,533.00
Security deposits
28,982.00
Advances from customers
42,444.00
Workers' (Profit) Participation Fund
39,949.00
Workers' Welfare fund
Sales tax payable- net
31,300.00
Excise duty payable
3,537.00
Other liabilities
5,885.00
Compensated absences
Unclaimed dividend
NON - CURRENT LIABILITIES
2,567,218.00
Retention money payables:
Deferred tax liability - net:
Deferred liability
45,213.00
Long term financing:
2,522,005.00
Loans from banking companies - Secured:
H.S.B.C Bank Limited
916,667.00
PRIM Bank Limited
916,667.00
United Bank Limited
458,333.00
Bank Al Falah Limited
458,333.00
CITY Bank Limited
NCC Commercial Bank Limited
275,000.00
Loan from related party:
50,000.00
Total Liabilities
3,774,164.00
Less: amount payable within 12 months shown under current liabilities
(552,995.00)
SHARE CAPITAL AND RESERVES
2,449,624.00
Reserves:
Accumulated loss
(1,744,798.00)
Share capital:
4,194,422.00
Total Liabilities + Owner's Equity
6,223,488.00
372,116.00
86,508.00
13,132.00
272,476.00
45,651.00
63,425.00
10,819.00
25,462.00
23,121.00
22,304.00
58.00
81,636.00
3,599,103.00
40,264.00
3,558,839.00
3,971,219.00
1,939,134.00
(2,255,288.00)
4,194,422.00
5,910,353.00
2007
Taka
CURRENT ASSETS
Cash and bank balances
Deposit accounts
Current accounts
Collection accounts
Cash in hand
Advances, Deposits, prepayments and other receivables:
To suppliers
To employees
Due from associated undertaking
Deposits
Prepayments
Excise duty
Advance tax net
Sales tax refundable -net
Derivative foreign currency options used as hedging instrument
Interest accrued
Prepaid arrangement fee for loans
Margin on letters of credit
Other receivables- Considered goods
Others
TRADE DEBTS
Unsecured
Considered goods
Considered doubtful
Secure-considered goods
Less: Provision for doubtful debts
STOCK IN TRADE
Raw and packing material
Work in process
Finished goods
STORES, SPARES AND LOOSE TOOLS
Stores
Spares
Loose tools
DEFERRED TAX ASSETS - NET
LONG TERM DEPOSITS
LONG TERM ADVANCES - Considered
FIXED ASSETS - Tangible:
5,294,083.00
3,783,909.00
3,756,611.00
27,039.00
259.00
345,567.00
15,521.00
2,473.00
5,737.00
3,966.00
23,302.00
82,719.00
84,364.00
14,828.00
74,670.00
29,369.00
7,179.00
1,439.00
26,927.00
4,848.00
4,848.00
26,927.00
(4,848.00)
230,089.00
31,271.00
152,529.00
46,289.00
907,591.00
415,358.00
478,579.00
13,654.00
46,611.00
7,200.00
7,106,599.00
2006
Taka
1,953,537.00
423,133.00
402,907.00
20,048.00
178.00
858,758.00
815,588.00
621.00
1,795.00
3,125.00
13,104.00
5,077.00
11,000.00
2,084.00
6,364.00
19,558.00
16,117.00
7,769.00
8,348.00
11,789.00
(8,348.00)
183,309.00
23,931.00
115,221.00
44,157.00
468,769.00
61,997.00
394,046.00
12,726.00
46,611.00
8,100.00
4,392,450.00
7,106,599.00
12,454,493.00
4,392,450.00
6,400,688.00
CURRENT LIABILITIES
2,454,761.00
Current portion of long term financing:
550,000.00
Short term borrowings - secured:
1,378,365.00
Markup accrued:
33,186.00
Trade and other payables:
493,210.00
Creditors
65,997.00
Accrued liabilities
174,692.00
Retention money
15,517.00
Security deposits
36,916.00
Advances from customers
41,344.00
Workers' (Profit) Participation Fund
24,413.00
Workers' Welfare fund
25,362.00
Sales tax payable- net
Excise duty payable
57,629.00
Other liabilities
45,323.00
Compensated absences
3,686.00
Unclaimed dividend
2,331.00
NON - CURRENT LIABILITIES
715,751.00
Retention money payables:
18,129.00
Deferred tax liability - net:
363,154.00
Deferred liability
9,468.00
Long term financing:
325,000.00
Loans from banking companies - Secured:
SONALI Bank Limited
265,152.00
DUTCH BANGLA Bank Limited
265,152.00
H.S.B Limited
132,576.00
JONATA Bank
132,576.00
EXIM Bank Limited
79,544.00
Islamic Bank
Loan from related party:
Fauji Foundation- Unsecured
Total Liabilities
3,170,512.00
Less: amount payable within 12 months shown under current liabilities(550,000.00)
SHARE CAPITAL AND RESERVES
9,283,981.00
Reserves:
1,864,094.00
Accumulated loss
Share capital:
7,419,887.00
1,442,287.00
550,000.00
375,510.00
48,330.00
468,447.00
81,766.00
118,828.00
11,986.00
39,051.00
67,770.00
41,483.00
16,085.00
32,599.00
8,582.00
40,708.00
3,626.00
5,963.00
1,223,195.00
339,918.00
8,277.00
875,000.00
6,400,688.00
12,454,493.00
431,818.00
431,818.00
215,909.00
215,909.00
129,546.00
2,665,482.00
(550,000.00)
3,735,206.00
(459,216.00)
4,194,422.00
2009
Taka
Sales
Less: Government Levies
Net Sales
Less: Cost of sales
Raw material Consumed
Packing material consumed
Stores and spares consumed
Spares written off
Salaries, wages and benefits
Rent, rates and taxes
Insurance
Fuel consumed
Power consumed
Depreciation
Others
Add: Opening work-in process
Less: Closing work-in process
Cost of goods
Add: Opening finished goods
Less: Closing finished goods Less: Own consumption
Gross profit
Other income
Distribution cost:
Salaries, wages and benefits
Export freight and other
Traveling and entertainment
Vehicle running and
Rent, rates and taxes
Repairs and maintenance
Printing and stationery
Depreciation
Others
3,921,362.00
(1,076,219.00)
2,845,143.00
1,763,597.00
136,819.00
147,994.00
6,573.00
87,091.00
1,378.00
18,078.00
699,818.00
332,383.00
251,981.00
72,538.00
1,754,953.00
27,761.00
(11,624.00)
1,770,790.00
18,615.00
(25,838.00)
1,763,567.00
1,763,567.00
1,081,576.00
11,216.00
21,333.00
11,085.00
1,857.00
1,172.00
872.00
640.00
734.00
4,973.00
2008
Taka
3,247,262.00
(951,031.00)
2,296,231.00
1,555,407.00
115,164.00
155,487.00
5,285.00
91,289.00
952.00
14,920.00
564,591.00
310,041.00
243,056.00
63,185.00
1,563,970.00
5,817.00
(27,761.00)
1,542,026.00
31,996.00
(18,615.00)
1,555,407.00
1,555,407.00
740,824.00
42,744.00
20,416.00
12,011.00
1,034.00
1,144.00
411.00
509.00
781.00
4,526.00
Administrative expenses:
Salaries, wages and benefits
Traveling and entertainment
Vehicle running and maintenance expenses
Insurance
Rent, rates and taxes
Repairs and maintenance
Printing and stationery
Depreciation
Others
Other Operating expenses:
Audits' remuneration
Workers' (Profit)
Workers' Welfare Fund
Finance Cost:
Fee and charges on loans
Interest/mark-up on long-term finance
Interest/mark-up on long
Interest on short term
borrowings and other
Interest on Workers' Profit
Guarantee commission
Bank charges and
Foreign exchange risk
Amortization of deferred
Net profit before taxation
Less: Taxation
Net profit after taxation
42,292.00
21,835.00
3,319.00
356.00
1,250.00
1,110.00
868.00
3,568.00
9,986.00
40,493.00
544.00
39,949.00
229,633.00
10,564.00
175,784.00
3,185.00
4,352.00
32,201.00
3,547.00
759,041.00
(248,548.00)
510,493.00
39,535.00
21,817.00
2,053.00
312.00
1,064.00
711.00
856.00
1,969.00
10,753.00
533.00
533.00
204,222.00
11,615.00
57,324.00
873.00
111,947.00
4,557.00
17,906.00
762,152.00
(243,290.00)
557,639.00
314,149.00
Sales
Less: Government Levies
Net Sales
Less: Cost of sales
Raw material Consumed
Packing material consumed
Stores and spares consumed
Spares written off
Salaries, wages and benefits
Rent, rates and taxes
Insurance
Fuel consumed
Power consumed
Depreciation
Others
Add: Opening work-in process
Less: Closing work-in process
Cost of goods
Add: Opening finished goods
Less: Closing finished goods Less: Own consumption
Gross profit
Other income
Distribution cost:
Salaries, wages and benefits
Export freight and other
Traveling and entertainment
Vehicle running and
Rent, rates and taxes
Repairs and maintenance
Printing and stationery
Depreciation
Others
2009-2008
Taka
2008-2007
Taka
4,749,217.00
(1,203,315.00)
3,545,902.00
2,887,790.00
227,413.00
281,916.00
10,914.00
133,451.00
5,284.00
12,221.00
1,441,919.00
451,419.00
290,477.00
85,730.00
2,940,744.00
115,221.00
(152,529.00)
2,903,436.00
44,157.00
(46,289.00)
2,901,304.00
(13,514.00)
2,887,790.00
658,112.00
107,574.00
53,382.00
18,791.00
24,482.00
1,127.00
1,641.00
1,468.00
288.00
545.00
2,704.00
2,337.00
4,780,036.00
(1,316,753.00)
3,463,283.00
2,371,788.00
235,379.00
221,116.00
11,171.00
931.00
133,780.00
2,213.00
12,363.00
979,044.00
431,609.00
276,244.00
110,238.00
2,414,088.00
96,371.00
(115,221.00)
2,392,538.00
23,407.00
(44,157.00)
2,371,788.00
2,371,788.00
1,091,495.00
73,835.00
40,645.00
20,651.00
705.00
2,745.00
1,353.00
173.00
416.00
1,746.00
12,856.00
Administrative expenses:
Salaries, wages and benefits
Traveling and entertainment
Vehicle running and maintenance expenses
Insurance
Rent, rates and taxes
Repairs and maintenance
Printing and stationery
Depreciation
Others
Other Operating expenses:
Audits' remuneration
Workers' (Profit)
Workers' Welfare Fund
Finance Cost:
Fee and charges on loans
Interest/mark-up on long-term finance
Interest/mark-up on long
Interest on short term
borrowings and other
Interest on Workers' Profit
Guarantee commission
Bank charges and
Foreign exchange risk
Amortization of deferred
Net profit before taxation
Less: Taxation
Net profit after taxation
76,495.00
41,153.00
7,483.00
2,145.00
602.00
6,465.00
590.00
1,318.00
9,475.00
7,264.00
34,290.00
600.00
24,413.00
9,277.00
146,954.00
500.00
129,928.00
11,609.00
665.00
4,252.00
454,564.00
(40,966.00)
413,598.00
71,302.00
42,439.00
3,487.00
2,385.00
594.00
5,934.00
960.00
1,941.00
5,464.00
8,098.00
58,098.00
530.00
41,483.00
16,085.00
207,105.00
500.00
200,642.00
779.00
93.00
972.00
4,119.00
788,180.00
(141,857.00)
646,323.00
R ATIO A NALYSIS
Current ratio = Current Liabilities/Current Assets
Saiham Textile Ltd
Year
Current Ratio
Current Assets
Current liabilities
2009
2.16
5,294,083.00
2,454,761.00
2008
1.35
1,953,527.00
1,442,287.00
2009
2.06
5,294,083.00
230,089.00
2,454,761.00
2008
1.23
1,953,527.00
183,309.00
1,442,287.00
2008
1.71
6,400,688.00
3,735,206.00
2008
177.08
3,463,283.00
19,558.00
2009
63.86
2,887,790.00
230,089.00
2008
70.21
2,371,788.00
183,309.00
2008
0.54
3,463,283.00
6,400,688.00
2008
31.52%
1,091,495.00
3,463,283.00
2008
18.66%
646,323.00
3,463,283.00