New Kuswaha Electric

Chhireswarnath Municipality-05, Dhanusha, Nepal

Fixed Assets Details as on 2078-79

Schedule 11
Opening Bal. Addition Total Depreciation Total Dep. Net Assets
Particulars 2078 Asar End Poush 2078 Chaitra 2078 Asar 2079 Deletion Amount Basis Rate 2079Asar End 2079Asar End
Pool-A
Building & Infastructure - - - - - - - 5% - -
Sub Total Pool-A - - - - - - - - -

Pool-B
Furniture and Fixtures - - - - - - - 25% - -
Computers - - - - - - - 25% - -
Printer - - - - - - - 25% - -
Sub Total Pool-B - - - - - - - - -

Pool-C
Vehicle - - - - - - - 20% - -
Sub Total Pool-C - - - - - - - - -
Pool-D
Machine - - - - - - - 15% - -
D-Freez - - - - - - 15% - -
Other Assets - - - - - - 15% - -
Inverter - - - - - - - 15% - -
Sub Total Pool-D - - - - - - - - -
Total Pool A-D - - - - - - - - -
Pool-E

Website - - - - - - - - -
Sub Total Pool-E - - - - - - - - - -
Grand Total - - - - - - - - - -
New Kuswaha Electric
Fixed Assets Schedule as on Ashad End, 2071
Schedule: 2
Dep. Gross Block Net Block as on
Particulars Rate As on 1 Shrawan Absorbed Balance Depreciation Balance Unabsorb. 32.03.2071
2070 addition addition
Block A
Partition 5.00% - - - - - -
Total of Block A - - - - - -
Block B
Furniture and f equipments 25.00% 160,416.75 51,000.00 211,416.75 52,854.19 158,562.56 - 158,562.56
Computers 25.00% - 12,000.00 12,000.00 3,000.00 9,000.00 - 9,000.00
Other office equipments 25.00% - - - - - -
Total of Block B 160,416.75 63,000.00 223,416.75 55,854.19 167,562.56 - 167,562.56
Block C
Vehicles 20.00% - - - - - - -
Total of Block C - - - - - - -
Block D
Plant and Meciniary 15.00% 62,700.00 45,980.00 108,680.00 16,302.00 92,378.00 - 92,378.00
Total of Block D 62,700.00 45,980.00 108,680.00 16,302.00 92,378.00 - 92,378.00

Block E
Website 5 Years 42,000.00 - 42,000.00 8,400.00 33,600.00 - 33,600.00
Total of Block D 42,000.00 - 42,000.00 8,400.00 33,600.00 - 33,600.00

Total 265,116.75 108,980.00 374,096.75 80,556.19 293,540.56 - 293,540.56

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Profit Before Tax 150,000.00

Add:
Depreciation for separate consideration ====
Repair and Improvemneet for separate consideration ====
Provision for gratuity ====
Loan Loss provision ====
Write off Expenses ====
Previous Year Expenses ====
Tax Expenses ====
Donation ==== ====
Less:

Previous Year Loss ====

Dividend Income ====
Depreciation as per Income Tax Act ====
Repair and Improvemnet as per Income Tax Act #REF! #REF!
Asssessable Income #REF!
Tax @ 25% #REF!
Late Penalty ====
Advance Tax ====
Fee ====
Interest #REF!
Total Tax Payable #REF!

Fee and fine as per Sec 117

For not submission of advance statement
For not submission of Income statement in time -
-
====
Interest as per the section 118
Total tax liabilities as per Anusuchi 2 #REF!

Amount to 90% of Less Advance Interest on

Particulars be paid Tax paid instalment Tax Paid Months less Tax
Up to poush End #REF! ==== #REF! #REF! 3 #REF!
Up to Chaitra End ==== ==== ==== ==== 3 ====
Up to Ashad End ==== ==== ==== ==== 2 ====
Total ==== ==== #REF!
 Auditor's Report to the Shareholders of Mountain Cliff Honey and Agriculture P.Ltd.
For The Year 2071-72

1) We have audited the accompanying balance sheet of Vet Twenty Four Animal Speciality Hospital
Pvt.Ltd. as of Ashad End, 2072, and the related statements of income, and cashflows for the year
then ended. These financial statements are the responsibility of the Company's management.
Our responsibility is to express an opinion on these financial statements based on our audit.

2) We conducted our audit in accordance with Nepal Standards on Auditing or relevant

practices. Those Standards or relevant practices require that we plan and perform the
audit to obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation. We
believe that our audit provides a reasonable basis for our opinion.

3) We have audited attached financial statements accordingly and report that:

1) We have obtained prompt replies to our queries including satisfactory explanation

during the course of the audit.
2) In our opinion, proper books of accounts have been maintained by the company.
3) The Financial Statements dealt with by this report are in agreement with the books
of accounts maintained by the company.

4) In our opinion, the financial statements give a true and fair view of the financial
position of the Company as of Ashad End, 2072, and of the results of its operations and
its cash flows for the year then ended in accordance with Nepal Accounting
Standards or relevant practices and comply with Company Act, 2063.

________________________
RA. Rajendra Prasad Bhatta
Place: Kathmandu. R.K. Bhatta & Co.
Date: Registered Auditors
 New Kuswaha Electric
Chhireswarnath Municipality-05, Dhanusha, Nepal
BALANCE SHEET
As on Ashad End, 2079

Particulars Schedule Current Year Previous Year

SOURCES OF FUND

Capital and Reserves

Paid Up capital 1 300,000.00 -
Proprietor's Additional Capital -
Reserve and Surplus 2 149,000.00 -

Medium and Long Term Borrowings

Secured Loan 3 - -

Total 449,000.00 -

APPLICATION OF FUNDS

Fixed Assets 11 - -

Current Assets
Inventory 9 1,324,000.00 -
Sundry Debtors 163,000.00 -
Prepaid,Loan,Deposit & Advances 5 25,000.00 -
Cash and Bank Balances 6 - -
Total A 1,512,000.00 -
Less: Current Liabilities and Provisions
Current Liabilities 4 65,000.00 -
Short Term Borrowings 7 997,000.00 -
Provision for Income Tax 1,000.00 -
Total B 1,063,000.00 -
Net Current Assets A-B 449,000.00 -

Significant Accounting Policies & Notes to

A/c 12

Total 449,000.00 -
As per our report of even date.

_____________________ ________________________
Proprietor
 New Kuswaha Electric
Chhireswarnath Municipality-05, Dhanusha, Nepal
Profit & Loss Account
For the Period From Shrawan 01, 2078 to Ashad End, 2079

Particulars Schedule Current Year Previous Year

Revenue
Sales Revenue 8 3,000,000.00 -
Less:
Cost of Goods Sold 9 2,754,025.00 -
Gross Profit 245,975.00 -
Expenditures
Administrative and General Expenses 10 26,151.00 -

Profit before Interest and Depreciation 219,824.00 -

Depreciation 11 - -

Profit before Interest 219,824.00 -

Interest 69,824.00 -
Profit before Other Income and Tax 150,000.00 -

Other Income - -

Net Profit / Loss before Tax 150,000.00 -

Income Tax Provision 1,000.00 -
Profit / Loss after Tax Transferred to Profit and
Loss Appropriation Account 149,000.00 -

Profit / Loss Appropriation Account

Profit / Loss Previous Year - -

Profit / Loss Transferred from Profit and Loss Account 149,000.00 -

Drawing - -

Net Profit / Loss Carried forward to Balance Sheet 149,000.00 -

As per our report of even date.

_____________________ ________________________
Proprietor 0
-
-
 New Kuswaha Electric
Chhireswarnath Municipality-05, Dhanusha, Nepal
CASH FLOW FOR THE YEAR ENDED ASHAD END, 2079

Particulars Current Year Previous Year

CASH FLOW FROM OPERATING ACTIVITIES
NET PROFIT BEFORE TAXATION AND EXTRA
ORDINARY ACTIVITIES 149,000.00 -
Add: Adjustments
Interest Paid 69,824.00 -
Depreciation - -
FUNDS FROM OPERATION BEFORE CHANGE IN
WORKING CAPITAL 218,824.00 -
Adjustment For
Decrease / (Increase) in Current Assets (1,512,000.00) -
Increase / (Decrease) in Current Liabilities 1,063,000.00 -
CASH GENERATED FROM OPERATION (449,000.00) -
Tax Paid 400.00 -
Interest Paid 69,824.00 -
NET CASH FLOW FROM OPETATING ACTIVITIES (300,400.00) -
NET CASH FLOW FROM EXTRA ORDINARY
ACTIVITIES
CASH FLOW FROM INVESTING ACTIVITIES
Decrease / (Increase) in Fixed Assets - -
NET CASH FLOW FROM INVESTING ACTIVITIES - -
CASH FOLW FROM FINANCING ACTIVITIES
Increase / (Decrease) in Term Loan - -
Proprietor's Drawing - -
Distribution of Dividend - -
Increase / (Decrease) in Proprietor's Capital 300,000.00 -
NET CASH FLOW FROM FINANCING ACTIVITIES 300,000.00 -
Net Increase In Cash & Cash Equivalents (400.00) -
CASH & CASH EQUIVALENTS AT THE BEGNING
OF PERIOD - -
CASH & CASH EQUIVALENTS AT THE END OF
PERIOD (400.00) -
As per our report of even date.

____________________ _____________________________
Proprietor -
-
-
 New Kuswaha Electric
Chhireswarnath Municipality-05, Dhanusha, Nepal
Scheduels to and forming part of Financial Statement

PROPRIETOR CAPITAL Schedule: 1

Particulars Current Year Previous Year
Authorised Capital
300,000.00 -

Paid up Capital
300,000.00 -
Total 300,000.00 -

RESERVE AND SURPLUS Schedule: 2

Particulars Current Year Previous Year
Profit & Loss Account 149,000.00 -

Total 149,000.00 -

MEDIUM AND LONG TERM BORROWINGS Schedule: 3

Particulars Current Year Previous Year
Secured Loan
Term Loan - -

Total - -

CURRENT LIABILITIES Schedule: 4

Particulars Current Year Previous Year
Sundry Creditors 65,000.00 -
TDS on Salary - -
TDS on House Rent - -
TDS on Audit Fee -
Audit Fee Payable -
Prepaid - -
Deposit - -
Others - -
Total 65,000.00 -

PREPAID , LOAN, DEPOSIT & ADVANCE Schedule: 5

Particulars Current Year Previous Year
Advance to Suppliers - -
Security and Deposit - -
Advance to Staff - -
Prepaid Expenses 25,000.00 -
Advance to Proprietor - -
Total 25,000.00 -
CASH AND BANK BALANCE Schedule: 6
Particulars Current Year Previous Year
Cash & Bank Balance 658,100.00 -
Total 658,100.00 -

SHORT TERM BORROWINGS Schedule: 7

Particulars Current Year Previous Year
Secured Loan
OD 997,000.00 -

Total 997,000.00 -

REVENUE Schedule: 8
Particulars Current Year Previous Year
Sales Revenue 3,000,000.00 -
Total 3,000,000.00 -

DIRECT OPERATING EXPENSES Schedule: 9

Particulars Current Year Previous Year
Opening Stock 1,019,353.00 -
Purchase 3,046,112.00 -
Carriage Inward 12,560.00 -
Closing Stock (1,324,000.00) -
Cost Of Goods Sold 2,754,025.00 -

ADMINISTRATIVE & GENERAL EXPENSES Schedule: 10

Particulars Current Year Previous Year
Registration & Renewal 4,500.00 -
Staff Salary - -
Office Rent - -
Audit fee - -
Water & Electricity 7,561.00 -
Telephone & Communication Expenses 2,300.00 -
Printing & Stationery 1,200.00 -
Local Transportation Expenses 640.00 -
Miscellaneous Expenses 1,200.00 -
Insurance Expenses 5,600.00 -
Bank Charge 3,150.00 -
Advertisement Expenses - -
Guest Entertainment Expenses - -
Total 26,151.00 -
 New Kuswaha Electric
Chhireswarnath Municipality-05, Dhanusha, Nepal
Schedule-12
SIGNIFICANT ACCOUNTING POLICIES AND NOTES TO ACCOUNTS
2078/79

1. SIGNIFICANT ACCOUNTING POLICIES

1.1 Basis of Accounting

Financial statements have been prepared under historical cost convention and accrual accounting
concept following Nepal Accounting Standards.

1.2 Revenue Recognition

Revenue has been recognized as and when the services are delivered to the customer and bills are
raised unless there is uncertainty as to the realization of amount.

1.3 Fixed Assets

Fixed assets have been stated at historical cost.

1.4 Depreciation
Depreciation has been provided on Diminishing Balance Method on the
fixed assets at the rates provided in Income Tax Act 2058.

2. NOTES TO ACCOUNTS

2.1 Taxation
Income Tax is made as per the provisions of Income Tax Act, 2058

2.2 Previous Year Figures

Previous year figures has been regrouped and rearranged wherever necessary.