Chartered Accountants

CYGNUS CORPORATION
House # 671, Road # 13, Baitul Aman Housing Society, Adabor, Shamoly , Dhaka-1207

Statement of Financial Position as on 31th December, 2020.

Sl. #Particulars Note 31.12.2020 31.12.2019

Assets :

A. Non Current Assets :

Fixed Assets 1.00 11,149,425.00 623,250.00
11,149,425.00 623,250.00
B. Current Assets :
Trade Debtors 2.00 19,268,458.00 8,728,750.00
Advance, Deposit & Prepayment 3.00 19,112,000.00 170,000.00
Cash & Cash equivalents 4.00 412,032.00 226,259.00
Closing Stock 5.00 7,250,500.00 2,564,000.00
FDR (Trust Bank - 0022-0330059542) 6,000,000.00 -
FDR (Trust Bank - 7022-0331042769) 3,500,000.00 -
Preliminery Exp 225,000.00 225,000.00
55,767,990.00 11,914,009.00

Total Asset(A+B) 66,917,415.00 12,537,259.00

Capital & Liabilities :

D. Current Liabilities :
Trade Creditors 6.00 2,176,400.00 1,925,600.00
Salary Payable 7.00 719,400.00 345,500.00
Time Loan ( LC Margin) - Trust Bank 15,458,406.00
Time Loan ( Duty Payment ) - Trust Bank 3,442,139.00

21,796,345.00 2,271,100.00
E. Owners Equity :
Owners Investment 8.00 725,500.00 725,500.00
P & L appropriation account 9.00 44,395,570.00 9,540,659.00
45,121,070.00 10,266,159.00
Total Capital & Liabilities : (D+E) 66,917,415.00 12,537,259.00

This is the Statement of Financial Position referred to in our separate report of even date.

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Date, Dhaka
Chartered Accountants

-
MASUD ALTAF & CO.
Chartered Accountants

CYGNUS CORPORATION
House # 671, Road # 13, Baitul Aman Housing Society , Adabor, Shamoly, Dhaka-1207

Income Statement for the period ended 31th December , 2020.

Sl.# Particulars Note 31.12.2020 31.12.2019

A. Revenue 10.00 391,602,876.00 31,678,722.00

B. Cost of Revenue 11.00 325,797,707.00 11,494,592.00

C. Gross Profit (A-B) 65,805,169.00 20,184,130.00

D. Operating Expenses :

Administrative Expenses 12.00 30,937,597.00 11,668,092.00

Financial Expenses 13.00 12,661.00 4,579.00
30,950,258.00 11,672,671.00

E. Excess of income over expenditure : (C-D) 34,854,911.00 8,511,459.00

F. Non Operating income :

Bank Interest -
-

G. Profit Before Tax : (E+F) 34,854,911.00 8,511,459.00

H. Provision For Income Tax -

Net profit/(Loss) transferred to P & L Appropriation A/C : (G

I. - H)
9.00 34,854,911.00 8,511,459.00

This is the Statement of Comprehensive Income referred to in our separate report of even date.

Date, Dhaka
Chartered Accountants
3
 16/3, Babor Road (G. Floor), Block-B
Chartered Accountants Shaymoli, Mohammadpur, Dhaka-1207.
Tel : 88-02-9132759, 01711-536193
E-mail : macaudit.2002@gmail.com

CYGNUS CORPORATION
House # 671, Road # 13, Baitul Aman Housing Society , Adabor, Shamoly, Dhaka-1207

Statement of Receipts & Payments for the period ended 31th December, 2020.

Sl.# Particulars Notes Amount in (Tk.)

A. Opening Balance:
Opening Stock 2,564,000.00
Cash in Hand 225,500.00
Cash at Bank 759.00
Sub Total 2,790,259.00

B. Receipts during the period:

Revenue / Received - Bank (Bill) 386,241,376.00
Revenue / Received - Cash (Bill) 53,614,499.00
Time Loan (LC Retirement) 15,458,406.80
Time Loan (Duty Payment) 3,442,139.00
A/P 2,176,400.00
Salary Due 719,400.00
Sub Total 461,652,220.80
Fund Available for utilization (A+B) 464,442,479.80

C. Payments during the period:

Salary allowance & Bonus 7,194,000.00

Remuneration 1,440,000.00
Conveyance & Mobile Bill 1,140,000.00
Bank Charge & Commission 12,661.00
Office Rent (85000 x 12) 1,020,000.00
Godwoan Rent (40000x12) 480,000.00
Machine Rent 2,400,000.00
Office Maintenance 45,500.00
Utility Bill 144,750.00
Printing & Stationery 74,200.00
Repair & Maintenance 65,420.00
Postage and Curier 48,500.00
Registration & Renewal fees (8480+1272+3000) 12,752.00
Subcontractor Bill 4,425,500.00
Business Promotion & Development (Speed) 4,750,500.00
Raw Materials Purchases 125,205,312.00
Labour Bill 592,395.00
A/R 263,866,357.00
Preliminery Exp -
AIR Conditioner 350,000
Furniture & Fixture 220,000
Scanner & Photocopy Machine 120,000
 16/3, Babor Road (G. Floor), Block-B
Chartered Accountants Shaymoli, Mohammadpur, Dhaka-1207.
Tel : 88-02-9132759, 01711-536193
E-mail : macaudit.2002@gmail.com

Electric Equipment 55,600

Plant & Machinery 4,700,000
Advance Office Rent (85000*2) -
Bank Gurantee (PG) 4,735,500.00
Bank Gurantee (APG) 14,206,500.00

FDR (TRUST 0022-0330059542 6,000,000.00

FDR (TRUST 7022-0331042769 3,500,000.00
Sub Total 446,805,447

D. Closing Balance:
Closing Stock 17,225,000.00
Cash in Hand 270,601.00
4.00
Cash at Bank 141,432.00
Sub Total 17,637,033.00

Total Payments & Closing Balance : (C+D) 464,442,480.00

This is the Statement of Receipts & Payment referred to in our separate report of even date.

Date, Dhaka
05th January, 2020. Chartered Accountants

5
r), Block-B
Dhaka-1207.

Opening

Eastern Bank 0
Trust Bank 758.6
Premier Bank 0
758.6

Received
Eastern Bank 4,400,000.00

Trust Bank 136,043,251.56

Premier Bank 12,501,149.00
152,944,400.56

599500 12 7194000
120000 12 1440000

85000 12 1020000
40000 12 480000

80%

2017-2018 140134394
r), Block-B
Dhaka-1207.

2017-2018

Closing
Eastern Bank 5,740.00
Trust Bank 6,285.44
Premier Bank 129,406.50
141,431.94
MASUD ALTAF & CO. 16/3, Babor Road (G. Floor), Block-B
Chartered Accountants Shaymoli, Mohammadpur, Dhaka-1207.
Tel : 88-02-9132759, 01711-536193
E-mail : macaudit.2002@gmail.com

CYGNUS CORPORATION
House # 671, Road # 13, Baitul Aman Housing Society , Adabor, Shamoly, Dhaka-1207
Notes to the Financial Statement for the period ended 31th December, 2020.

Sl. # Particulars 31.12.2020

1.00 Fixed Assets : Tk. 5,461,965.00

Opening Balance 623,250.00

Add : Addition during the period 11,765,000.00
12,388,250.00
Less : Adjustment during the period 1,238,825.00
11,149,425.00
2.00 Trade Debtors : Tk. 19,268,458.00

Opening Balance -
Add : Addition during the period 19,268,458.00
19,268,458.00
Less : Received/Adjustment during the period -
19,268,458.00
3.00 Advance , Deposit & Prepayment : Tk. 19,112,000.00

Bank Gurantee (PG) 4,735,500.00

Bank Gurantee (APG) 14,206,500.00
Advance against Office Rent 3.01 170,000.00
19,112,000.00
3.01 Advance against Office Rent : Tk. 170,000.00

Opening Balance 170,000.00

Add : Addition during the period -
170,000.00
Less : Adjustment during the period -
170,000.00
4.00 Cash and Cash Equivalents : Tk. 412,032.00
MASUD ALTAF & CO. 16/3, Babor Road (G. Floor), Block-B
Chartered Accountants Shaymoli, Mohammadpur, Dhaka-1207.
Tel : 88-02-9132759, 01711-536193
E-mail : macaudit.2002@gmail.com

Cash in Hand 270,601.00

Trust Bank Ltd. Millennium Branch : A/C No. 0407 6,285.00
Eastern Bank Ltd . Gulshan Avenue : A/C No. 5552 5,740.00
The Premier Bank Ltd. Gulshan : A/C No. 0325 129,406.00
412,032.00

5.00 Schedule of Stock : Tk. 7,250,500.00

Opening Stock 2,564,000

Add : Additional for the period 5.01 4,686,500
7,250,500
Less : Adjustment during the period -
Closing Stock 7,250,500

5.01 List of Stock : Tk. 4,686,500.00

Product Name Quantity Amount

Thermoplastic Yellow 8MT 200 (per kg) 800,000
Thermoplastic White 6MT 220 (per kg) 1,320,000
Glass Beads 10MT 320 (per kg) 864,000
Retro Reflective Stiker 7Roll 144000 (per roll 1,008,000
Road Studs 700PCS 450 (per pices) 694,500
TOTAL AMOUNT : 4,686,500

6.00 Trade Creditors : Tk. 2,176,400.00

Opening Balance -
Add : Addition during the period 2,176,400.00
2,176,400.00
Less : Payment/Adjustment during the period -
MASUD ALTAF & CO. 16/3, Babor Road (G. Floor), Block-B
Chartered Accountants Shaymoli, Mohammadpur, Dhaka-1207.
Tel : 88-02-9132759, 01711-536193
E-mail : macaudit.2002@gmail.com

2,176,400.00
7.00 Salary Payable : Tk. 719,400.00
Opening Balance
Add : Addition during the year 719,400.00
719,400.00
Less : Payment/Adjustment during the year -
719,400.00
8.00 Owners Investments : Tk. 725,500.00

Partners Name Goodwill Cash Total

Dewan Fayezuddin Ahmed - - 725,500
0 - - -
Total - - 725,500

9.00 P & L Appropriation A/C : Tk. 45,027,510.00

Opening Balance 9,540,659.00

Add : Current periods' Profit / (Loss) 34,854,911.00
44,395,570.00
Less : Drawing during the period -
44,395,570.00
10.00 Revenue : Tk. 391,602,876.00

A) Received by Bank (Bill) 386,241,376.00

-
-
Sales Commission -
386,241,376.00

B) Received by Cash (Bill) 5,361,500.00

Less : Sales Return -
5,361,500.00
Total : ( A+B ) 391,602,876.00

11.00 Cost of Revenue : Tk. 325,797,707.00

Raw Materials Purchases 325,205,312

MASUD ALTAF & CO. 16/3, Babor Road (G. Floor), Block-B
Chartered Accountants Shaymoli, Mohammadpur, Dhaka-1207.
Tel : 88-02-9132759, 01711-536193
E-mail : macaudit.2002@gmail.com

Less : Purchase return - 325,205,312.00

Labour Bill 592,395.00

325,797,707.00

12.00 Administrative & Selling expenses : Tk. 30,305,657.00

Salary allowance & Bonus 7,194,000.00
Remuneration 1,440,000.00
Conveyance & Mobile Bill 1,140,000.00
Office Rent 1,020,000.00
Godwoan Rent 480,000.00
Machine Rent 2,400,000.00
Office Maintenance 45,500.00
Utility Bill 144,750.00
Printing & Stationery 74,200.00
Repair & Maintenance 65,420.00
Postage and Curier 48,500.00
Registration & Renewal fees 12,752.00
Subcontractor Bill 7,425,500.00
Business Promotion & Development (Speed) 8,208,150.00
Depreciation 1,238,825
30,937,597

13.00 Financial Expenses : Tk. 12,661.00

Bank Charge & Commission 12,661

12,661
MASUD ALTAF & CO. 16/3, Babor Road (G. Floor), Block-B
Chartered Accountants Shaymoli, Mohammadpur, Dhaka-1207.
Tel : 88-02-9132759, 01711-536193
E-mail : macaudit.2002@gmail.com

9
31.12.2019

472,500.00
220,000.00
692,500.00
69,250.00
623,250.00

8,728,750.00
8,728,750.00
-
8,728,750.00

-
-
170,000.00
170,000.00

170,000.00
-
170,000.00
-
170,000.00
 225,500.00
758.60
-
-
226,258.60

701,800
1,862,200
2,564,000
-
2,564,000

144000 7

1,925,600.00
1,925,600.00
-
1,925,600.00

345,500.00
345,500.00

345,500.00

1,029,200.00
8,511,459.00 1,029,200
9,540,659.00
-
9,540,659.00

30,443,322.00
-
-
-
30,443,322.00

1,235,400.00
-
1,235,400.00
31,678,722.00
10,629,092.00
865,500.00

11,494,592.00

2,575,500
950,000
235,600
1,020,000
480,000
2,250,000
55,600
186,540
96,520
76,530
44,400
12,752
2,065,400
1,550,000
69,250
11,668,092

4,580
4,580
1008000
Chartered Accountants

CYGNUS CORPORATION
House # 671, Road # 13, Baitul Aman Housing Society, Adabor, Shamoly, Dhaka-1207,

Schedule of Fixed Assets as on 31th December, 2020.

Schedule - A

Cost Depreciation
Written
Addition Adjustment Rate of Charged Adjustment Balance as Down Value
Sl. # Particulars Balance as on Balance as on Dep. % Balance as on
during the during the during the During The on as on
01.01.2020 31.12.2020 01.01.2020 31.12.2020
Period Period Period Period 31.12.2020

1 AIR Conditioner 189,000 350,000 - 539,000 10% - 53,900 - 53,900 485,100

2 Furniture & Fixture 75,150 220,000 - 295,150 10% - 29,515 - 29,515 265,635

3 Scanner & Photocopy 68,850 120,000 - 188,850 10% - 18,885 - 18,885 169,965

4 Electric Equipment 290,250 75,000 - 365,250 10% - 36,525 - 36,525 328,725

5 Plant & Machinery - 11,000,000 11,000,000 10% 1,100,000 1,100,000 9,900,000

Total 623,250 11,765,000 - 12,388,250 - - 1,238,825 - 1,238,825 11,149,425

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