WC

Profit & Loss Accounts

For the month ended Febuary 28, 2018
Wing Chair Girogio TOTAL

NOTES RUPEES RUPEES RUPEES

-
NET SALES/Receipts 5 10,095,000 209,000 10,304,000

COST OF SALES/Mfg Exp 1 (7,301,593) (156,750) (7,458,343)

GROSS PROFIT 2,793,407 52,250 2,845,657

OPERATING EXPENSES
Administration Expenses 2 2,499,925 188,506 2,688,431
Selling Expenses 3 2,499,894 714,458 3,214,352
4,999,819 902,964 5,902,783

OPERATING PROFIT (2,206,412) (850,714) (3,057,126)

Other Income - - -

Financial Charges 278,000 278,000

(2,484,412) (850,714) (3,335,126)

Taxation - -
Net Profit/Loss After Tax (2,484,412) (850,714) (3,335,126)

The annexed notes from 1 to 17 form an integral part of these Financial Statements.

CHIEF EXECUTIVE DIRECTOR

WC
Notes to the Accounts
For the month ended Febuary 28, 2018

NOTES Wing Chair Girogio TOTAL

COST OF SALES
Direct Material 1.1 7,080,402 7,080,402
Manufacturing Expenses 1.2 8,825,500 156,750 8,982,250
Add-Opening Stock WIP 11,401,593
less closing stock (Aprox) WIP (15,005,902)
Add-Opening Stock F.G 7,500,000 7,500,000
less closing stock (Aprox) F.G (12,500,000) (12,500,000)
7,301,593 156,750 11,062,652
Direct Material
Carpentary 2,426,179 - 2,426,179
Poshish/Fabric 2,824,950 - 2,824,950
Finishing 1,155,159 - 1,155,159
Fitting 720,142
Others 403,972 - 403,972
Add-Opening Stock 1,200,000 1,200,000
Closing Stock (1,650,000) - (1,650,000)
7,080,402 - 6,360,260
-
Manufacturing Expanses
Salaries 5,402,071 - 5,402,071
Contractors & Wages 2,356,238 - 2,356,238
Factory Rent 452,750 - 452,750
Electrcity,Diesel water, Maintenance & Power 423,951 - 423,951
Repair & Maintenance 34,700 - 34,700
Misc+GF 155,790 - 155,790
8,825,500 - 8,825,500

ADMINISTRATIVE EXPENSES 2
Staff Salaries & Benefits 730,400 81,000 811,400
Medical 16,400 - 16,400
Repair / Maintenance 16,000 9,177 25,177
Utilities/Generator 52,454 62,744 115,198
Entertainment 453,055 6,001 459,056
Diesel Expense 10,000 10,000
Fuel Expense 98,750 4,300 103,050
Printing & Stationery 1,000 - 1,000
Trvelling and Conveyance 168,700 168,700
Legal and professional 42,000 - 42,000
Workers Walfare 455,000 - 455,000
Social Securities 56,100 - 56,100
Vehicle Repair and maintenace 4,550 - 4,550
Communication, postage and courier 80,781 22,784 103,565
Computer,Laptop,Printer Expense 10,900 - 10,900
Miscellaneous, 303,835 2,500 306,335
2,499,925 188,506 2,688,431

SELLING EXPENSES 3

Advertising and Marketing 849,833 20,000 869,833

Exibition/Events -
Rent show rooms 1,115,311 694,458 ###
Commission Expense 514,750 - 514,750
Carriage Outward 20,000 - 20,000
Give Aways - - -
-
2,499,894 714,458 3,214,352

FINANCIAL CHARGES 4

Mark Up 275,000 - 275,000

Bank Charges 3,000 - 3,000
Trf to Wing Chair -
278,000 - 278,000

SALES/Receipts 5 -
Sale 10,295,000 209,000 10,504,000
Tax (200,000)
Net Sale 10,095,000 209,000 10,504,000
WC
Cash Flow Statements
For the month ended Febuary 28, 2018

Cash Flow From Operating Activities

Receipts Wing Chair Giorgio Total
Received From Customer-Existing 16,500,000 - 16,500,000
Received From Customer-New Advances 21,259,000 209,000 21,468,000
Received From Giorgio 209,000 -
Received From WC 960,825 960,825
37,968,000 1,169,825 38,928,825
Payments - -
Vendors+ Carpentary (3,423,645) - (3,423,645)
Cash Pur Finishing (2,446,900) - (2,446,900)
Poshish (2,365,400) - (2,365,400)
Others (3,293,047) (3,293,047)
TPT - -
Foregin Vendors (141,600) (141,600)
Rent (682,500) (682,500)
Comission (577,771) (577,771)
Payment for Manufacturing Exp (8,825,500) - (8,825,500)
Payment for Administrative Exp (2,499,925) (188,506) (2,688,431)
Payment for Selling Exp (2,499,894) (714,458) (3,214,352)
Bank Charges (65,000) (65,000)
Tax Payments- sales Tax (300,000) (300,000)
Withholding Tax- Rents (21,000) (21,000)
Other Misc (850,000) (57,289) (907,289)
(27,992,182) (960,253) (28,952,435)
Net Cash Flow from Operating Activities 9,975,818 209,572 9,976,390

Casf Flow From Investing Activities -

Factory GF Construction Work (360,000) - (360,000)
- - -
Net Cash Flow from Investing Activities (360,000) - (360,000)

Cash Flow from Financing Activities -

Withdrawls (Aprox) (8,156,483) - (8,156,483)
Repayment of lease Installment (490,300) - (490,300)
Received/(Repayment) of Silk Bank - - -
Fund Transfer-Giorgio (960,825) (209,000) (1,169,825)
Net Cash Flow from Financing Activities (9,607,608) (209,000) (9,816,608)
-
-
Net Cash Inflow/ (Out Flow) 8,210 572 (200,218)
Cash & Cash equivalient begning of the period 773,599 1,337
Cash & Cash equivalient end of the period 781,809 1,909 783,718