ii HE 106092016001175 SECURITIES ANDSEXCHANGE COMMISSION ‘SECBuilcing, EDSA.Grenk cnet ta Tet(632)726-0231to39i Barcode Page The following document has ben received: Receiving OfficerfEncoder : Lorelei M. Livanag Recolving Branch: SEC Head Office Receipt Date and Time : April 28, 2016 00:56:44 AM Received From 2 Head Office Company Representative nl ee Doc Source Company Information ee ‘SEC Registralion No. 200209128 Company Name. HAN SAMMAE INTERNATIONAL CORP. Industy Classification Company Type Stock Corporation Document information eS ee ee BE Document ID 406092016001175 Document Type FINANCIAL STATEMENT-ANNUAL Document Code Fs Period Covered December 31, 2018 No. of Days Late ° Department CEDICRMD Remarks Date: 4-10-2016 Time: 1:55:10 aM www. sec.gov.ph User Name: zetsky2001COVER SHEET_ for 7 ‘AUDITED FINANCIAL STA ‘own)Province) Vil ht | a ‘esa ap LEE ‘COMPANY INFORMATION Cee ie mee sande tramecthiomaioe | [ios 7 e 8 ee Wate en rate ea tay 5 ] oe Soe CONTACT PERSON INFORMATION "nt en TBC oar tn tet care Tanlerhan ame howewasotils Bs 437 6 ofals ater aT eéane Time: I:55753- AN Date: = 4 ame: JOT PLE BAGUIO aosa wie eave) trocnnacs toh et leet er oa spon ath he empty ecco ‘Soccnunc eo mn cape tad be new pose oso Www. sec. gov.ph User Name: zatsky2001Fax No. (046) 437-6547 April 25, 2016 Securities and Exchange Commission EDSA, Greenhills Mandaluyong City, Metro Menila Gentlemen; We were informed of the requirements of SEC Memorandum Circular No. 2, Series of 2001, dated March 12, 2001, to submit, in addition to six (6) copies of audited financial statements, a CD of the audited financial statement using the SEC templates. In the meantime, we are pleased to submit a copy af our andited finaneial statements we submitted to the Bureau of Intemsl Revenue in diskette format. We will submit the audited financial statements using the prescribed SEC templates on or before (designated date). Please find below the following documents submitted to your office, 1. Copies of Audited Financial Statements duly stamped by BIR. 2. Copies of General Form for Finanefal Statements 3. Soft copy of both Audited FS and GFFS 4. ‘Treasurer Certification Thank you for your corsideration. Very youts, HOSONSate: 4-10-2016 Time: 1: / www. sec.gov.phtate natn ‘Lot 1,Bik.7-2 Ph 2 PEZA Rosario Cavite Philippine 4105 Tel No. (046) 437-6045 ax No. (046) 437-6547 STATEMENT OF MANA FINANCIALS accounting policies, and making accounting estimates that are reasonable in the circumstances. ‘The Board of Directors reviews and approves the financial statements and submit the same to the shareholders. gxanined the financial statements of the company in accordance with Philippine Standards on Auditing, and in her report to the shareholders, has expressed her opinion on ‘the faimess of presentation upon completion of such examination, ‘Signed this 14th day of April, 2016 www. sec.gov.ph RECEIVE “oaTe 14 APR 2016(tan Sama lntoratinal Ca. Lot 1.Blk.7-0 Ph 2 PRZA Rosario Cavite Philippine 4106 ‘Tel No. (046) 437-6045, Fax No. (046) 437-6547 oh wr ss) STATEMENT OF MANAGEMUNT’S RESPONS! FOR ANNUAL INCOME TAX RETURN Se, ‘The management of Han Sammae Int’l.Corp. i tesanstbl yepresentations contained in the Annual Income Tex Retum for the year ended December 31, 2015. Management is likewise responsible for all information and representations contained in the financial statements accompanying tho (Annual Income Tex Retum or Annual Information Return) covering the same i Period. Furthermore, the Management is responsible for all information and representations contained in all the other tax retume filed for the reporting period, including, but not limited, to the value added tax and/or percentage tex returns, withholding tax retms, documentary stamp tax retums, and any and all other tae returns. In this regard, Management affirms that the attached audited financial statements for the year ended December 31, 2015, and the accompanying Annual Income Tax Retum are in accordance with the books and records of Han Sammac Int'l Corp., complete and correct in all material respects. Management likewise affirms that: @) the Annual Income Tax Return has been prepared in accordance with the Provisions of the National Internal Revenue Code, as amended, and pertinent tax regulations end othcr issuances of the Department of Finance and the Bureau of Internal Revenues (©) any disparity of figures in the submitied reports arising fom the Preparation of financial statements pursuam to financial accounting standards and the preparation of the income tax return pursuant to tax accounting rules has heen reported as reconciling items and maintained in ‘the company’s book and records in accordance with the requirements of ‘Revenue Regulations No. 8-2007 and other relevant issuances; (© the Han Sammse Int".Corp. has filed all applicable tax returns, reports and Statements required to be filed under Philippine tax laws for the reparting Period, and all taxes and other impositions shown thereon to be due end Payable have been paid for the reporting period, except those contested in faith. CEO of wow. Seerogn His equivatent RECI GC nate: 1 * TE t A 6A HAN SAMMAE INTERNATIONAL CORP. FINANCIAL STA‘ DECEMBER 31, 2015 AND 2014 INDEPENDENT AUDITOR'S REPORT Date: 4-10-2016 Time: 1:59:3 aM User Name: zeatsky2001 www. Sec.gov.ph2 JAYDEE P. CAP, 525 Palma St, Sin eliphone Woz 0917-50258 / ‘The Stockholders and Board of Directors ‘Han Sammae International Corp. 2 floor, PAI Compound, Phase 3 PEZA, Rosario, Cavite {have audited the financial statements of Han Sammae Internation Corp. for the Hear ended December 31 2015, on which Ihave rendered the attached report dated February 13, 2016, Jn compliance with Revenue Rogulations V-20, 1am stating the following: 1 The taxes paid or accrued by the above Company for the year ended December 31, 2015 are shown in the Schedule of Taxes and licenses attached to the income tax return, 2. am not related by consanguinity or afity tothe president, manager or principal stockholder of the Company. B CPA Certificate. No. 0091338 (valid until 06/05/2016) SEC Accreditation No. 1195-A, PRCIBOA Registration No. 0678 (valid until 12/31/2016) Tax Accreditation No. 09-005542-1-2012 ‘Tox Identification No. 166-693-776 PTR No. 6566571, January 11, 2016, Cavite City February 13, 20104, : SAS. ROSARIO, cavirE RECEIVED”: TATE: _4.4 APR 2016 Yh -gov.ph‘The Stockholders and Board of Directors ‘Han Semmae International Corp. 2™ floor, PAI Compound, Phase 3 PEZA, Rosario, Cavite Thave examined the financial statements of Han Semmac International Corp. for the year ended December 31, 2015, on Which I have tendered the attached report dated February 13, 2016. In compliance with SRC Rule 68, | am stating that the said company has a total number of two Q) stockholders owning one hundred (100) or more shares each as of December 31, 2015 and 2014, as disclosed in Note 12 to the financial ‘statements. ‘No. 0091338 (valid until 06/05/2016) ion No, 1195-A PRC/BOA Registration No. 0678 (valid until 12/31/2016) Tax Accreditation No. 09-005542-1-2012 ‘Tax Identification No. 166-693-776 PTR No. 6566571, January 11, 2016, Cavite City February 13,2016 Date: 4-10-2016 Time: 2:0:24 am -Set.gov.ph User Name: zetskyJAYDEE P. CAPARAS, CPA. 525 R. Pelma St, San Antonio, Cale Cith. 1.5 > Cellphone No: 09175025882 / The Stockholders and Board of Directors Han Sammae International Corp. Report on the Financial Statements {have audited the accompanying financial statements of Han Sammae Intemational ‘Corp. which comprise the balance sheets as at December 31, 2015 and 2014, and the income siatements, statements of changes in cquity and cash flow statements for the years then ended, and a. ‘summary of significant ‘accounting policies and other explanatory information, Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial Satcments in accordance with Philippine Financial Reporting Standards for Small end Medium-sized Enfties (SMEs), and for sich intemal contol as management determines is necessary to enable the preparation of financial stalements that are ffee ‘from material misstatement, whether due to fraud or error. Auditor's Responsibitity and fair presentation of the financial statements in order to design audit procedures ‘Siatare appropriate in the circumstances, but not forthe purpose of expressing an opinion on the effectiveness ofthe entity's in Sf, An audit algg includes, evaluating the aprepritencsobsSecingpulsceuel Gaus rem yB AM accounting estimates made by management, es well as evalvating the overall presentation of the financial statements ‘believe that the audit evidence J have ‘Obtained is sufficient and. | appropriats to Www . seRtOvide a basis for my audit opinion. = — PeRiSTNG San Sabla Cie RDONO 548.82ccor CaviteOpinion Z Le {s my opinion, the financial statements phedeyt 4 Financial position of Han Sanamac International Corp, 2014, and of ts fiaancial performances and’ accordance with Philippine Financia) Repos sited Entities (SMEs), p AS more fully described in Note 1, though, and 2014, its accumulated net losses and eg, Pray a Ay C9 iy Anche we S Tayded | Ce ae I, : GPA Chnificate. No. 0091338 (valid until 06/05/2016) es, 3 SEC Accreditation No. 1195-A. Pea Si PRCIBOA Registration No. 0678 (valid until 12/31/2016) oe Tax Accreditation No. 09-005542-1-2012 Tax Identification No. 166-693-776 . PIR No. 6566571, January 11, 2016, Cavite City February 13, 2016 Date: 4-10-2016 Time: 2:2:24 AM www. Sec. gov. ph User Name: zetsky2001Revere An www.sec.gév.ph [Oncor Times : zots ROO No S4P-Bacoor Camilo Roane Ts ‘Current Asseis Cash 670,515 Trade and other receivables 1,430,474 Total Current Assets 017,634 2,100,585 Non-Carrent Assets Property, plant and equipment 7 831,672 1,686,938 Refundable deposits 8g - 76,099 “Total Non-Current assets 331,672 1,763,037 P6849306 23,964,026 en 80809 506 8,864,026 LS ee eee LIABILITIES AND CAPITAL DEFICIENCY Current Liabilities ‘Trade and other payables 9 5,298,674 2,954,476 Advances from shareholders 10 - 402,377 Income tax payable in 132,131 95,352 ‘Total Current Liabilities 5,430,805 3,452,155 Non-Current Liabilities Advances from sharcholders 10 $,000,000____5,000,000 Total Non-Current Liabilities 5,000,000 5,000,000 Capital Deficiency Share capital 2 250,000 250,000 Share premium 12 20,000 20,000 Accumulated losses (4.858, 129) “Total Capital Deficien 1,499) (4,588,129) 306 3,864,026 See aces ‘Notes to Financial Statements Da CeApprdved datbenalt GEE Road mo > 2:3:17 AM President/Director Finance Officer/Director I ROSARIO, CAVITE SECRIVEL, ra Fe 8 San Baio city tah Minedemus 002826REVENUE, “ ~~" 926,805,157 220,881,722 PRODUCTION COST 4 04162536) (18,974,682) GROSS PROFIT 2,642,621 1,907,040 OPERATING EXPENSES 15 (1,373,039) (1.347.198) INCOME FROM OFERATIONS 1,269,582 599,842 OTHER CHARGES - NET 16 (130,821) (123,494) INCOME BEFORE INCOME TAX 1,138,761 136,348 INCOME TAX EXPENSE, n 432,131) (95.352) NET INCOME AFTER TAK P1,006,630 340,995 Seo accompanying Notes to Financial Sialements Date: 4-1 WWW. SEC.gov.ph8 HAN SAMMAE INTERNATIONAL CORP. ___ STATEMENTS OF CHANGES INEQ a SHARE CAPITAL ~ Pi par value Authorized— 1,000,000 shares Issued ~ 250,000 shares 12 250,000 250,000 ‘SHARE PREMIUM 12 20,000 20,000 ACCUMULATED LossEs Balance at beginning of year (4,858,129) G,199,125) Net income 1,006,630 340,996 ‘Balance at end of year B,851,499) 358,129) E3S81499)__ (P4.588.129) ‘See accompanying Notes to Financial Statements £6, ae cor cam Oy * Lem git Pal CHRICE OFTHE ROR TEAS Rost €. www. se0.gov.ph i a se: zetsky2001 Ps ‘REC E ATE, ry aoHAN SAMMAE INTERNATIONAL CORP 51135 STATEMENTS OF CASH FLOWS 7, Ew CASH FLOWS FROM OPERATING ACTIVITIES ‘Net income (loss) after tax 006,630 340,996 Adjustments for: ation aud amortization 7 855,266 853,265 ‘Operating loss before working capital 1,861,896 1,196,262 ‘changes Decrease (increase) in: ‘Trade and other receivables 6 (2,968,127) 2,330,880 Increase (decrease) in: ‘Trade and other payables 9 2,344,248 89,698 Income tax payable A 36,779 (75,483) Net cash provided by operating activities 1,274,795 3,541,357 (CASH FLOWS FROM} INVESTING ACTIVITIES Acquisition of property and equipment 7 e Inorease in refundable deposits 8 76,099 30,000 “Net cash used in investing activities 76,099 30,000 ‘CASH FLOWS FROM FINANCING ACTIVITIES Payment of advances 10 (402.376) 3,529,234) Net cash used in financing activities (402,376) (3,529,234) NET DECREASE IN CASH 948.518 213 CASH AT BEGINNING OF YEAR 5 670,515, 628,392 CASH AT END OF YEAR 5 F1,619,033___B670,515 See accompanying Notes to Financial: ‘Statements eee: Fieston No. 8 Sen Pablo Giy 4B -Bacoor Cate Date: 4-10-2016 ofr EOF THE MUON, TRERGORER ROSARIO, CavIT10 HAN SAMMAE INTERNATIONAL CORP. Corporate Information i Sue 4 Han Sammae Iaterational Corp. che Cspnpany) sg ian ‘organized under the laws of the Philippines. The Company’ orporaied and-Tegistered with ‘the Securities and Exchange Sonne SEO ene 4, 2002 ath SEC Registration No. A200209128. The Conipatty was also registred ds an Ecozone Export Euterprisc with the Philippine Economié Zosit Authoity (PEZA) on November 22, 2002 under PEZA Certificate of Registration No. 02-065. ‘The ‘scope of the registrant’s registered. activity shall be limited to. embroidery and printing of designs in garments and other wearing apparels and manufacturing of garments for export. The Company started commercial operation on Aptil |4, 2003. ‘The Company’s principal place of office and manufacturing plant is now located at 2" floor, PAI Compound, Phase 3, PEZA, Rosatio, Cavite. ‘The registered address is still at B9, Lot 4, Phase 1, Cavite Economic Zone Authority, Rosario, Cavite. Amendment of corporate adéress in SEC shall be done by the Company in 2016. ‘Status of Operations ‘The financial statements have been prepared assuming the Company will continue ‘as a going concern. Though the Company has incurred net income of 1,006,630 and P340,996 in 2015 and 2014, respectively, it is still under accumulated losses ‘of P3,851,499 and P4,858,129 and capital deficiencies of P3,581,499 and 4,588,129 as of December 31, 2015 and 2014, respectively. The successive losses of the Company in previous years were due to low sales orders. These have {ed some uncertainties whether the Company could goon as a going concem. To ‘address temporarily the obligations to third parties, the Company had coursed thru replacement financing via injection of non-interest ‘bearing funds from the officers and stockholders. ‘The Company also initially took steps on getting and acquiring new customers for increased orders. 2. Basis of Preparation and Accounting Policies Statement of Compliance ‘The financial statements have been prepared in compliance with Philippine Financial Reporting Standards (PFRS) for Small and Medium-sized Entities issued by Philippine Financial Reporting Standards Council. Basis of ‘Measurement ose c ‘The Financial psemeats harp been prepasdon bistorsal got tas. 5 4 AM Functional and Presentation Currency ‘The financial statements are presented in Philippines peso, which is the ‘Compaay’s functional currency. www. sec.gov.ph User Name: zetsky2001ui Use of Tudemente ‘and Estimates cma ‘The preparation of the financial statements in Bhilipbin Findheial Reporting ‘Standards for SMEs equres Ge masse ‘Company @ inake estimates and sssumptions that affect the amounts repotted in the Financial sfetements and accompanying notes. Future events meyoccur witch Will cause tiga ic Used in arriving at the estimates to change; The effects Gf changes will be reflected in the financial statemdjits as ‘hey becom reason determinable, % - x 3 Summary of Significant Accounting nes Revenue is recognized to the extent that it is probable that economic benefits will flow to the Company and revenue can be measured reliably, regardless of when the payment is being made. Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms and payment excluding taxes and duty, excluding discounts, rebates, and other sales taxes or duty. The following specific recognition criteria must also be met before reveaue is recognized: Sale of goods ‘Revenue is recognized when all the following conditions are satisfied: @ the catity has transferred to the buyer the significant risks and rewards of ‘ownership of the goods. ®) the entity retains neither continuing managerial involvement to the degree usually associated with ownership nor defeetive control over the goods sold. (©) the amount of revenue can be measured reliably. (@ itis probable that the economic benefits associated with transaction will flow to the entity © the costs incurred or to be incurred in respect of the transaction can be measured reliebly. Rendering of services ‘When the outcome of a transection involving the rendering services can te estimated reliably, an entity shall recognize revenue associated with the transaction by reference to the stage of completion of the transaction at the end of the reporting petfod. The outcome of a transaction can be estimated reliably witen all the following conditions are satisfied: @) the amount of revenue can. be measured reliably. (®) it is probable that the economic benefits associated with the transaction will flow to the entity. Geena taped (c) the 5 of completion of the transaction at the enc re tins Cuteness ST On SOLE Nimes Bee res @ the costs incurred for the transaction and the costs to complete the transaction can be measured reliably. AM Interest income | wine. sec BSBA S omizdas theinterest osm, oe Name: zats N } 3S Par