ATLAS HONDA LIMITED

CASH FLOW STATEMENT

FOR THE YEAR ENDED JUNE 30, 2003 NOTE 2003

CASH FLOWS FROM OPERATING ACTIVITIES (Rupees)

Net Profit before taxation P/L 650,927
Adjustment for:
Depreciation 5 89,645
Foreign exchange (gain) /loss 33 (128)
Gain on sale of investment 32 (11,053)
Interest income =18011+20293 32 (38,304)
Interest expense =468+18011+1931 33 20,410
Dividend income 32 (166)
Amortization 6 2,067
Gratuity provision 20 14,192
Finance charges on leased assets 33 77
Diminution in value of investment
Loss on sale of fixed assets 30 5,829
Oprating profit before working capital changes 733,496
Working capital changes:
(Increase) / decrease in current assets
Stores, spares & tools B/S (54,802)
Stock-in-trade B/S (95,026)
Trade debtors B/S 116,716
Advances, deposits & prepayments 13 (22,707)
=(199702-110433-8219-7460)-(354378-249584-2134-6363)
(55,819)
Increase in current liabilities
Creditors, provisions, accrued charges & other liabilities 24 400,848
=(591002-3935)-(989977-2062)

Cash generated form operations 1,078,525

Interest paid (22,140)
Gratuity paid 20 (48,864)
Income taxes paid W-2 (286,675)
Long term loans and deposits
=(16130+7460)-(13874+6363) 9 3,353
Net cash generated from operations 724,199
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of fixed assets =132059-552+2770 5&7 (134,277)
Investment in mutual fund units (100,000)
Sale proceeds of fixed assets 8,674
Sale proceeds of investment 13,880
Sale proceed of investment in mutual fund units 100,732
Interest received W-3 44,389
Dividend received 32 166
Software development / acquisition cost 6 (1,089)
 (67,525)
Net cash flow before financing activities 656,674
FINANCING ACTIVITIES
Repayment of long term loans =20,090+20,000+5,000
18.01 , 18.02 & 18.03 (45,090)
Acquisition of long term loans =100,000+50,000 18.02 & 18.03 150,000
Repayments of redeemable capital =19,788+5,000 17.01 & 17.02 (24,788)
Repayment of supplier's credit -
Repayment of obligation under finance lease 19 (1,233)
Dividend paid w-4 (121,218)
Net cash (used in) financing activities (42,329)
Increase in cash & cash equivalents 614,345

W-1
NTEREST PAYABLE

Cash (bal) 22,283 Opening n24 3,935

Accrued 20,410
Closing n24 2,062 20410 143

24,345 24,345
W-2
INCOME TAX
Advance opning n13 110,433 Deferred Tax Op P/L 15,000
Deferred Tax Cl P/L 33,000 Provision P/L 223,524
Advance Cl n13 249,584
Provision for Tax Cl P/L 220000 Prov for Tax Op P/L 162,000

Cash (bal) 286,675

650,108 650,108
W-3
NTEREST RECEIVABLE

Opening N13 8,219 Closing N13 2,134

Cash (bal) 44,389
Accrued N32 18,011
N32 20,293

46,523 46,523

W-4
DIVIDEND PAYABLE

Cash (bal) 121,218 Opening Unclaimed n26 3,639

Proposed P/L 122,621
Closing unclaimed P/L 5,042
126,260 126,260
115092 40182
45090
120000