Registered Auditors & Ta Siitanlé (Proprietorship Firin No ~- 2594.) Kathmandu, Nepal. Tel: 015110187. To, PAN - 500087804 ‘The share Holders : Date: 2075) 06/14 Peace Nepal Treks (P.) Ltd Thamel Pkanajol -16, Kathmandu, Nepal Ref: Audit Report for the Fiscal Year 2074/75B 8. We have audited the attached balance sheet and Income & Expenditure account with annexed of the Peace Nepal Treks (P) Lid Thamel Pkanjol -16 Kathmandu, Nepal, for the year ended 32nd "Ashadh 2075 (Fiseal Year 2074/75). These financial statements ate the main responsibility of the Company's management Our esponsibility is to express an opinion on these financial statements ‘based on our aut. We conducted our audit in accordance with generally accepted auditing standards, Those standards Tequire that we plan and perform the audit to obtain reasonable assurance about whether the ‘Hnonetal statements are free of materials misstatement, An audit includes examining, ona test bass, tvidence supporting the amounts and disclosure inthe financial statements. An audit also includes SSeessng the accountng principle used and significant estimates made by the Management, as well fs evaluating the overall financial statemént presentation. We believe that our audit provides reasonable basis for our opinion. We have obtained all informetion and explanations, which to the best of our knowledge and belief where necessary during the course of auditing process ofthe Company. In so far as appears ftom our examination of such books of account, the company has kept proper books of account to the financial transsctions according 10 government rule and ‘regulation and company act 2063, Balance sheet and Income & Expenditure AJC referred to the reports are in agreement with books of account meintained by the company. 4. Inout opinion and to the best our information and according to the explanations given to us, the Balance-sheet, trading and Profit & Loss account are true and fair view of the company for the year ended at that date 5. During the course of audit, we have not found any misconduct fom any responsible persons staff and board members ofthe company, Finally we wish the progress and prosperity ofthe Company, business organization, and would like to thanks to members end staff ofthe company for thei assistance. Thanking you all again, Reference to: = | Office ofthe Company Registration, Katmandu, Nepal 2 Internal Revenue Office, Bala, Katmandu, NepalSHERPA SALAKA & COMPANY Registered Auditors & Ta Consultants (Proprietorship Firm No :- 2594.) Kathmandu, Nepal. Tel: 01-5110187 PAN :- 500087804 Date: 2075108/14 Notes and Explanations to Annual Accounts General Information “The Peace Nepal Treks (P) Ltd. was incorporated as a profit making Business Organization under the Company Registration Office for trekking services to foreiners in the Himalayan resions with taking service charge Significant Accounting Policies: ‘The Financial Statement “like balance sheet, Income statement and cash flow statement has been prepared as per Historieal Cost Concept. 1, Recognition of revenue and costs are under basis of historical cost accounting system, Incomes have been recognized on cash basis and the expenditures are recorded on accrual basis. 2, Fixed assets are valued as the time of acquisition and depreciation are charged on the basis of diminishing balance method. Indra Sherpa ‘Salaka Reg. AUDITORPEACE NEPA! TREKS (P) LTD. P.O.Box 2518, Traine Kathmandu Nepal. Balance Sheet’AS at 32/03/2075 BS. Prev.Year Capital & Liabilities [Sch] Details | Current Year ‘Amount Rs. ‘Amount RS_| Amount Rs. 7,000,000.0 [Authorized Capital @ Rs. 100 4,000,000.00 4,000,000.6 issued Capital @Rs.100 4,000,000.00 4,000,000.0 [Paid up Capital @Rs100 1,000,000.0 | ,000,000.00| 46,000.00 |Sundry Creditors 15,000.00, 45,000.00, 66,921.19 |Profitfor This year |p| 9675288. (268,178.8)|PreviousYear Profit | 191,258,65)| (104,505.83) | 10,180.0 {TDS : Salary 2,860.0 |Auditing 1,500.0 House Rent 6,000.0 10,360.00 823,921.35 Grand Total 920,854.18 | 920,854.18 Prevvear ‘Assets [Sch] Details [Current Year ‘Amount Rs. ‘Amount Rs._| Amount Rs. 299,945.96 |Fixed Assets, 3.0| 267,993.41] 257,993.41 Deposite =~ 200,000.00 |}, Bank Guarantes 200,000.00 {80,000.00 |!! Bank Guarantee NRB 0,000.00, 418,750.00 |1, Telphone & P.0.Box 1375000] 263,750.00 14,000.00 | Tax Paid in Advance 15,750.00 18,750.00 82,751.94 ||, Cash in hand 75,360.00 163,473.45 |li, Cash at Bank 19619581} 261,545.81 [Sundry Debtors 12181496 | 121,814.96 823,921.95 Grand Total saoes4t8| 920,988.18 SLX (Nir Bdr.Lama) Managing Director y Lat Dhoj Tamang Account ManagerPEACE NEPAL. TREKS (P) LTD. P.O.Box 25181 3Thaiiel Kathmandu Nepal. Statement of comprehensive Income For the Year Ended 32Asadh 2075 caret Yr —[Frevois¥7 fe Fanaa sen] Amoant | Amount Rs 7 [By Non Vatabe Seles a} 102,680.00] 1,01565000 2 [by Vatable Sales a] s.s01s2s.00| 74522428 A Total income 3,387,618.00| 1760.90.24 70 fo Purchase Gost 3] 1.881 207-00 2.0[Te Hott Accomodation 4807870 3.0|To Porter Cherge ser.s0000| 520,600.00 40)To Tins and NP. Cheige 174860.00| 114000.00 50[To Traveling Reting Ex esrsio00| 12056000 3 | Total Trading Expenses 7810.457.00 | 1185,998.70 [AB Jfo Gross income ed 577,11800[ 57504254 1 Te Seley and Allowances 796,000.00] 288,000 00 2| To House Rent for Ofoe e0.00000| 60,000.00 3| To Pintng & Siatenery «800.00 «| To Communication 4000.00] 80000 5|ToTea& Refreshment 450000| 11,900.00 6| To Membership & Renewal 1000.00) 22.4120 7| To insurance Prema 10,996.00] 1099500 3 To Depreciation Charge ai9sos7| 4560729 | To Aucting Expenses tooco.00| 10.0000 10| To Newspaper & Magazine 470000) 3.50000 14| To Water lecity 550000/ 8.50000 45| To Misotaneous 400.00| 11,9000 c Grand Toa aenaa7s7| 05.1420 [TREO Net income Beers Tax se70.a4] 9922026 Provision fornoome Ta aasiret| 22.0706 Net core aftr Tax 3675285| 6021.19 Ay, for U NA GZ DL 7a “ir Bo. Lama) Lal Dhoj Tamang Managing Director AIC Managera, Cash Flow Statement Fiscal Year 2074/75.BS. SN Particulars [Detail Amt. [amount Rs. 'A_ [casi FLOW FROM OPERATING ACTIMTIES 5,320.43, |, Net teome before Tax ( Loss ) i. Depreciation Charges for the year i, increase (Decrease }n sundry Creditors lv, Increase (Decrease ) in Short-term-Loan lit, Decrease (Increase ) in Sundry Debtors iv, Decrease (Increase ) in Inventory stock lv, Decrease' Increase) in paid of Income Tax 96,752.83 41,952.57 (121,814.98) (1,570.00) [east FLOW ROW INVESTING ACTIVTIES |, Purchase of Fixed Asseis for the year li, Decrease (increase) in Investment at others i, Decrease (increase } in Bank Guarantee [CASH FLOW FRON FINANCING ACTIVITIES T Medium-term loan increase (Decrease) i, Long-term Loan Increase (Decrease ) ji, Share ane Dedentures Increasa(Decrease) Net Cash increase (Decrease ) from Arc 5,320.43 1 [Beginning balance of Cash and Bank 256,225.39 |, Opening Cash Balance li, Opening Bank Balance 92,751.94 163,473.45, [a5 AND BANK BALANCE END OF THE YEAR 261,548.81 |, Cash in Hand balance atthe end Cash at Bank balance atthe end 75.351.00 186,195.81 ‘Kir Ba Lama) Lal Dhoj Tamang Managing Director. ‘Account ManagerPEACE NEPAL REKS (P) LTD. P.0.Box 25181, Thame! Kethinandu Nepal Shedule No:01 Salary and Allowances Statement for the year ended 32/03/2075 SN Employees" Name | Post Scale Yrly Rs. Paid Rs. Balance + lente Bahadur Lamau rector | 16,000 114500| | t14so0|___- 2 teal DhojTamang|Accourtant| 10500] 73.500 73500; a | snambutame [rouroprat| 7.500 | 62.500 sso] 3 Iacerem Bérlame |@uide/Sida| 6,500] 45.500 4550| [1 erana Tota wosoo| 286,000] | 206,000 ‘Shedule No:-02 Fixed Assets as at 32/03/2075 Sep Boonen] Amount Sa] Foncaas PEREE*Taacoon] Taaron [rae] AOE | Pos 1 [rumiture aronre | 524205 s24zes| ton] s2ez0|_<7.teaee 2 lovice Equipment _| 7.4877 erasr7| roe] 12e747| 240220 .3 [kichen Eauioment | 206088 soeses | 20%| sa7e| _2astis 1 [trekking Equpment|_ 9.4714 coaria| ssi] 149207| e4ssoee slcomputer Printer | _s9911s sastis| 15%| 29007] 1992478 Gran Tor [2eosasor| | aeooaae| | a1gsz6| as7sos.t| bac A xt Blir Lama) LA Dhoj Tamang Managing Director Account ManagerPEASE NEPAL TREKS “°) LTD. P.0.Box 25181, Thamel Kathmandu Nepal. Schedual No. 03 Sales Revenue & Purchase gst with W Year ended 32nd Asadh 2075B.S BIUN, Sales [VAT [ovat (Non Vatabil(Purchase [VAT Non Vatabe [Total [Net VAT ‘Month [Amount Sates “Jamount urchase [Purchase 4495500] 5841.20| _50,77429| 476610] _25,008.00| 2,991.04] 476.61000| 26,099.04 Mangsir| 7006460] 103,0540| 03.6000] 77a2000| ev00r60| s07.9020| 7732000 |" 997.9170 Poush S 7 Magh zi eta an z Falgun_| 10502460 [ 796.5480 | 7.106,001.0 | 256,8600| i026.te40 | reae6a0| 296.e800| 11618479 Tae seo] sas saOS| 2,141,2655| 1ae2 90 | ToeT ZOO] —Paassew | TAeZ6800| 21267659 | 1765S 7.0 [inten 006 558.3 2.0 308,505 3 30, *150,889.7 4.0 Dhulkhel Mountain Resort 5.0 Other Hotel Expenses Total Tal Dhoj Tamang Accountant Reg. Auditor