Akal Company Profile For Wadessa Bridge

COMPANY PROFILE
AKAL CONSTRUCTION
tadesse tufa
Paving the way to the future
AKAL construction enterprise
nekemte
0911336484/0920414005
fenettadesse@gmail.com
8/10/2021
Table Content
1. General Information
 Introduction
 Legal Documents
 Recommendation Letters
2. Work Experience
 work Experience
3. Financial Stand
 Annual Turnover of the Company
 External Audit Report
4. Company Key Personnel
5. Machinery and Equipment’s
 Machinery’s
 Heavy Trucks
 Light vehicles
6. Work Methodology
 Work Methodology

General Information
AKAL CONSTRUCTION
Legal Name:-
Authorized:- Name:- Tadesse Tufa Debele
Representative:- Position:- Share holder and General Manager
Nationality:- Ethiopia
Address:- Addis Ababa, Ethiopia
Mobile +251-9-11-336484/+251-9-20-414005-/+251-9-46-269760
E-mail Address:- delinatadesse3@gmail.com
Office Address:- Tel. +
Nekemte, Ethiopia
OR/17/02/00000052/04
Trade License:-
Guto Gida, Oromia Ethiopia
Certificate of Competence ROAD CONTRACTOR Grade 4,(RC-4) Reference #
Registration no. BKO 0001498 Dated 17/02/ 2014 by Oromia
National Regional State Construction Bureau.
TIN Registration
TIN Registration number 0022871806
Certificate
VAT Registration
VAT Registration number 3310100032
Certificate
Introduction
AKAL CONSTRUCTION established at Nekemte Oromiya Ethiopia in 2004 E.C before 10

years. We have an experience since the establishment of the Company with bright
prospect and high aspiration with motto “Always work to keep our customers satisfied”
and consistent accomplishments records the company has grown to Grade 4 Road
Contractor and it is registered by the Oromiya Construction Authority as a Road Contractor
RC-4 No. BKO 0001498.
Our company with a total capability across the spectrum of Road and civil engineering
construction works, including Design and Supervision works (turnkey project). It is a full
service general construction firm established in 2004. We are specializing in Road ,bridge &
related works construction. Since inception, we have completed many projects. Our service
range is typically throughout Ethiopia. Occasionally, we venture even further depending on
the type of work and the client.
The way we run our business is very straightforward. We have conducted a high quality job
and provide all our customers with good service, treating their property with respect. We are
reliable and competitive with our pricing. It's the way we've managed to grow and develop
our business over the years
AKAL CONSTRUCTION is owned and Managed by Ato TADESSE TUFA DEBELE

with a Service period more than 7 years in Government and Private Organizations under
various capacities. The Company is Service rendering organization in the Construction sector.
Staff: - Our Construction Company is engineering driven and believes that management is
about getting the right people for the particular task. People are our most valuable asset. Our
success over the years is due to the dedication and commitment of both staff and workforce.
The result is quality at every stage of construction.
Society: - We recognize that our activities will always have an impact on the society but
we endeavor to minimize the negative impacts wherever possible at the same time we will
try to increase its positive impacts like to employee them in our company. Through a
review of the practices in our head office, production department and on construction sites we
have developed documented procedures and checklists to manage our social objectives.
COMPANY VISION
Our vision is to be the first choice for all construction types of works in
Ethiopia and Competitive actor undertaking all types of construction works in
East Africa.
COMPANY MISSION
To participate on the Country’s Socio-economic development without
reservation by delivering ethical, reliable and quality construction service in
a timely and cost effective manner thereby giving maximum to all
stockholders.
OUR CORE VALUES
Leadership
Spirit of Partnership
Excellence
Integrity
Responsibility
Professionalism
COMPETITIVE ADVANTAGES
1. Extensive experience and consequent reputation in bridge
and Gravel road construction works.
2. Modern and diversified machineries and equipment with
well-equipped central workshop.
3. Devoted and committed work force.
4. Continuous focus on internal and external training for its
employees to enhance their skill and knowledge.
5. Very effective and efficient organization structure with inbuilt
flexibility to accommodate changes for the future challenges of the
construction industry, to execute company’s laid out business plan.
6. Proactive logistics system established to meet construction
materials and equipment spares demand.
7. Determined and working fiercely to establish Quality and
Environmental Management System.
8. Exclusive experience of working with different giant international
partners as subcontractors
QUALITY POLICY
AKAL CONSTRUCTION is dedicated to provide high quality, effective,
reliable and on time service with economical cost in construction Works
to meet customer needs and expectations as well statutory and regulatory
requirements.
We are dedicated to the quality policy which ensures the satisfaction of our
clients by meeting their requirements.
We prepare our quality policy together with our organizational quality objective
to align its framework and content.
We will ensure a comfortable working environment for our employees.
The quality policy principles and objectives will be communicated and available to
staff at all times. We shall ensure that all our personnel understand and fully
implement our company’s policies and objectives.
LEGAL STATUS
Documents that justify the LEGAL STATUS of our company.
PPPA Web Site Registration
Trade license
VAT Certificate
TIN Registration Certificate
Tax Clearance
Certificate of Competence from OCA/ATKO

portfolio
Earth works
(road works)
by AKAL Construction
portfolio
Structure’s and Minor
drainage Structure’s
by AKAL Construction
portfolio
Above 20 m span
girder Bridges
by AKAL construction
Prime
Percenta Contract
ge of or (P) or
Name of Works Subcont
project/kind of Period of Complet Client and ractor Final acceptance
Sn no works Value of Works Contract ed Place (S) issued?
GARI -FEYISA
RURAL ROAD
PROJECT GUTO GIDA
17.5 km , 2004-2006 E.C WOREDA
2 bridges , 800 calendar ROAD
1 17 pipe culverts 19,500,000.00 days 100% AUTHORITY P YES
NEKEMTE-
ABDETA AGP
ROAD PROJECT GUTO GIDA
9 km , 2005-2006 E.C WOREDA
1 bridges 365 calendar ROAD
AGRO-GADDISA
ODA RURAL
ROAD PROJECT GUTO GIDA
12. km , 2005-2006 E.C WOREDA
2 bridge 365 calendar ROAD
HARETO-
NEGERO AGP
ROAD PROJECT HARETO
11 km , 2005-2006 E.C WOREDA
1 bridges 365 calendar ROAD
LAGGA WACHU GUTO GIDA

20 M SPAN 2005-2008 E.C WOREDA
BRIDGE 800 calendar ROAD
5 PROJECT 5,763,032.33 days 100% AUTHORITY P YES
NEKEMTE-
NEGASSA
RURAL ROAD GUTO GIDA
PROJECT 2006-2007 E.C WOREDA
9 km , 365 calendar ROAD
UKKE-LOKO-
JARSO ROAD
PROJECT GUTO GIDA
15.79 km , 2006-2007 E.C WOREDA
NEKEMTE-
JIREGNA ROAD GUTO GIDA
6.54 km , 365 calendar ROAD
Prime
Percenta Contract
ge of or (P) or
LAGA WAMA 4 GUTO GIDA

M SPAN FOOT 2007-2007 E.C WOREDA
9 PROJECT(AGP) 565,128.98 days 100% AUTHORITY P YES
LAGA KERSA 4 GUTO GIDA

M SPAN FOOT 2007-2007 E.C WOREDA
10 PROJECT(AGP) 493,967.51 days 100% AUTHORITY P YES
NEKEMTE-
KITTESA ROAD GUTO GIDA
GARII-BUFATA
RADIO ROAD GUTO GIDA
LUGOO -
GADDISA ODA GUTO GIDA
ROAD PROJECT 2009-2010 E.C WOREDA
AWASH 20 M
SPAN GIRDER 2010-2012 E.C
BRIDGE 547 calendar SATO KAGYO
14 PROJECT 19,952,538.32 days 100% CO. LTD S YES
LAGGA
WADDESSA 20 EAST
M SPAN GIRDER 2011-2013 E.C WOLLEGA
BRIDGE 365 calendar ZONE ROAD PROVESIONAL
15 PROJECT 14,845,287.11 days 100% AUTHORITY P ACCEPTANCE
BONEYA
BILLO TOWN BOSHE
3.8 km , 365 calendar ROAD PROVESIONAL
16 12 pipe culverts 2,729,157.56 days 100% AUTHORITY P ACCEPTANCE
Prime
Percenta Contract
ge of or (P) or
GUTE- DALLO
KOMTO ROAD
PROJECT WAYU TUKA
5.2 km , 2011-2013 E.C WOREDA
1 bridge 365 calendar ROAD PROVESIONAL
HINTSA-
WALLENE WAYU TUKA
3.5 KM, 365 calendar ROAD PROVESIONAL
TINFA- GIDDA
ABALLO ROAD
PROJECT WAYU TUKA
8.5km , 2012-2013 E.C WOREDA
19 7 pipe culverts 6,754,131.83 days 80% AUTHORITY P UNDER CON.
ALI
GORDOMMO-
FECHASE
HARRO ROAD
PROJECT WAYU TUKA
15 km , 2013-2014 E.C WOREDA
2 bridgeS 365 calendar ROAD
20 9 pipe culverts 15,730,548.87 days 75% AUTHORITY P UNDER CON.
30 SENE 2009
INDEPENDENT AUDITORS’ REPORT
ON FINANCIAL STATEMENTS OF
AKAL CONSTRUCTION ENTERPRISE
We have audited the accompanying financial statements of Akal Construction Enterprise

which comprise the Statement of Financial Position as of 30 Sene 2009 and the Statement
of Financial Performance and Statement of Cash Flow for the year the ended, and a
summary of significant accounting policies and other explanatory notes.
Management’s Responsibility for the Financial Statements
The Company’s Management is responsible for the preparation and fair presentation of
these financial statements in accordance with international Financial Reporting
Standards. This responsibility includes: designing, implementing and maintaining
internal control relevant to the preparation and fair presentation of financial statements
that are free from material misstatement, whether due to fraud or error; selecting and
applying appropriate accounting policies; and making accounting estimates that are
reasonable in the circumstances.
Auditors’ Responsibility
Our responsibility is to express an opinion on these financial statements based on our

audit. We conducted our audit in accordance with International Standards on Auditing.
Those standards require that we comply with ethical requirements and plan and perform
the audit to obtain reasonable assurance whether the financial statements are free from
material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor’s
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the entity’s preparation and fair presentation of the financial
statements in order to design audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An
audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by management, as well as evaluating the overall
presentation of financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion.
Unqualified opinion
In our opinion the financial statements present fairly, in all material respects, the financial
position of Akal Construction Enterprise as of 30 Sene 2009 and of its financial performances and
cash flows for the year then ended and are prepared in accordance with applicable laws and
accounting policies of the Company.
Addis Ababa Ama – Hai

Nov. 24, 2021 Chartered Certified Accountants
2
STATEMENT OF FINANCIAL POSITION
AS AT 30 SENE 2009
CURRENCY:BIRR
BALANCE AT
ASSETS EMPLOYED Notes 30 SENE 2008
Property,Plant & Equipment 2a,3 284,511.91 356,168.83
CURRENT ASSETS
Inventory of Construction materials 1,254,207.18 395,230.30
Trade & Other receivables 4 1,448,051.36 1,232,553.54
Cash and bank balance 5 209,593.31 1,435,746.17

2,911,851.85 3,063,530.01
Total Assets 3,196,363.76 3,419,698.84
EQUITY AND LIABILITIES
CAPITAL AND RESERVES
Paid up capital 1,115,000.00 1,115,000.00
Accumulated Profit (Loss) 1,888,701.93 1,787,974.06
Total equity 3,003,701.93 2,902,974.06
CURRENT LIABILITIES
Trade and other payables 6 192,661.81 445,172.51

Provision for Taxation 7 0.00 71,552.27
192,661.81 516,724.78
Total Equity & Liabilities 3,196,363.76 3,419,698.84
0.00 -
STATEMENT OF PROFIT & LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SENE 2009
CURRENCY:BIRR
BALANCE AT 30
Notes SENE 2008
CONSTRUCTION INCOME 5,242,243.62 8,419,672.66
LESS: CONSTRUCTION COSTS 8 4,716,747.55 7,764,709.15
GROSS PROFIT 525,496.07 654,963.51
ADMINSTRATION EXPENSES
Salary and Benefits 255,646.48 115,440.00

Stationary & Office supplies 5,507.82 1,690.17
office Rent 63,966.66 -
Insurance 8,831.60 5,459.81
Depreciation - Office 4,780.42 25,250.04
Utilities 590.10 -
Other expenses 22,085.75 5,000.00
Penalty 23,928.83 -
(385,337.66) (152,840.02)
NET INCOME (LOSS) BEFORE TAX 140,158.41 502,123.49
PROVISION FOR TAXATION 7 (39,430.53) (157,743.22)
NET INCOME (LOSS) AFTER TAX 100,727.88 344,380.27
NET INCOME (LOSS) BROUGHT FORWARD 1,787,974.06 1,443,593.79
NET INCOME (LOSS) CARRIED FORWARD 1,888,701.93 1,787,974.06

STATEMENT OF CASH FLOW
CURRENCY: BIRR
CASH FLOW FROM OPERATING

2008
ACTIVITIES
Net profit before tax 140,158.41 502,123.49
Depreciation 71,656.92 56,287.89
Increase in Incentory of construction materials (858,976.88) (395,230.30)
Increase in trade & other receivable (182,691.93) (1,232,553.54)
Decrease in trade & other payables (252,510.70) 445,172.51
Advance profit tax paid (72,236.42) (86,190.95)
Profit tax paid (71,552.27) -
Cash generated from operations (1,226,152.87) (710,390.90)
Net increase (decrease) in cash & cash equivalents (1,226,152.87) (710,390.90)

Cash & cash equivalent at the beginning of the year 1,435,746.17 2,146,137.07
Cash & cash equivalents at the end of the year 209,593.31 1,435,746.17
Components of Cash and Cash Equivalents

Bank overdraft -
Cash on hand and at bank 209,593.31 1,435,746.17
209,593.31 1,435,746.17
0.00 -
STATEMENT OF CHANGE IN SHAREHOLDERS EQUITY
CURRENCY: BIRR
Accmulated Legal
Capital Profit/Loss Reserve Total
Balance at 30 Sene 2007 1,115,000.00 1,443,593.79 - 2,558,593.79
Transferred to legal reserve - - -
Net profit/Loss for the year - 344,380.27 - 344,380.27
Prior year adjustment - -
Balance at 30 Sene 2008 1,115,000.00 1,787,974.06 - 2,902,974.06
Transferred to legal reserve
Net profit/Loss for the year 100,727.88
Prior year adjustment
Balance at 30 Sene 2009 1,115,000.00 1,888,701.93 - 3,003,701.93

NOTES TO THE FINANCIAL STATEMENTS
BACKGROUND
Akal construction was established on 24/01/2004 E.C. as with registered

capital of Birr 1,115,000.00. The company is registered in the Oromia Regional State
Trade and Industry Office under business licence number OB/17/02100000052/04
ACCOUNTING POLICIES
a) Fixed Assets
Fixed assets are stated at cost less depreciation. Depreciation is

charged on the reduced balance of each pool of fixed assets, at the
following rate per annum. The rates are in line with the income tax
proclamation no. 286/2002.
%
Motor vehicle 20
Construction equipments 20
Office furniture & fixtures 20
Computer and accessories 25
Other Assets 20
b) Income and Expense Recognition
Accrual basis of accounting is applied in recognition of Income and Expense.

expense.
3 FIXED ASSETS
BALANCE AT BALANCE AT
COST 30 SENE 2008 ADDITIONS 30 SENE 2009
Computer & Data Storage 29,486.86 29,486.86
Office Furniture & Equipme 33,485.16 33,485.16
Plants and Machinery 769,898.25 769,898.25
Tools 122,695.55 122,695.55
Other Assets 87,293.50 87,293.50
1,042,859.32 - 1,042,859.32
DEPRECIATION
Computer & Data Storage 21,023.71 2,115.79 23,139.50
Office Furniture & Equipme 20,161.99 2,664.63 22,826.62
Plants and Machinery 514,208.07 51,138.04 565,346.11
Tools 75,281.71 9,482.77 84,764.48
Other Assets 56,015.01 6,255.70 62,270.71
686,690.49 71,656.92 758,347.41
NET BOOK BOOK 356,168.83 284,511.91
4 TRADE & OTHER RECEIVABLES
Retention 1,213,946.52 1,118,946.89

Withholding tax 32,805.89 -
Purchase advance 113,606.65 113,606.65
Value Added Tax 87,692.30 -
1,448,051.36 1,232,553.54
5 CASH AND BANK BALANCES
Cash on hand - -
Cash at Bank 209,593.31 1,435,746.17
209,593.31 1,435,746.17
6 TRADE & OTHER PAYABLES
Income tax 73,853.42 71,667.09
Accruals - 1,500.00
Pension payable 57,131.92 56,305.19
Value added tax 61,676.47 315,700.23

192,661.81 445,172.51
7 PROVISION FOR TAXATION
Provision for taxation is arrived as follows:-
Profit for the year 140,158.41 502,123.49
Add: Non deductable expenses :
Food and House Supplies - -
Penality 23,928.83 23,928.83 -
Taxable Profit for the year 164,087.24 502,123.49
Provision for taxation 39,430.53 157,743.22
Less: withholding tax for the year (39,430.53) (86,190.95)

0.00 71,552.27
8 CONSTRUCTION COSTS
DIRECT LABOUR 306,348.60 967,516.40
CONSTRUCTION MATERIALS 1,420,908.17 3,370,048.93
CONSRUCTION OVERHEADS
Machinery Rental 2,583,446.20 2,498,650.00
Material and Equipment Trasport 25,000.00 -
Fuel and Lubricants 143,817.59 613,843.08
Repair and Maintenance 101,335.64
Sub Contract Costs 69,014.84 283,612.89
Depreciation 66,876.51 31,037.85
4,716,747.55 7,764,709.15
30 SENE 2010


Unqualified opinion

2
AS AT 30 SENE 2010
CURRENCY:BIRR
CURRENT ASSETS
Inventory of Construction materials - 1,254,207.18
Cash and bank balance 5 363,246.53 209,593.31

1,811,297.89 2,911,851.85
Total Assets 2,038,590.05 3,196,363.76
Paid up capital 1,115,000.00 1,115,000.00
Accumulated Profit (Loss) 723,135.27 1,888,701.95
Total equity 1,838,135.27 3,003,701.95
CURRENT LIABILITIES

Provision for Taxation 7 1,078.26 -
198,954.77 192,661.81
(1,499.99) 0.01
CURRENCY:BIRR
Notes 30 SENE 2009
GROSS PROFIT 298,528.21 525,496.07

Stationary & Office supplies 674.00 5,507.82
office Rent - 63,966.66
Insurance - 8,831.60
Utilities - 590.10
Other expenses 347.83 22,085.75
Accounting fee 1,500.00
Penality 1,500.00 23,928.83
(165,054.62) (385,337.66)
PRIOR YEAR ADJUSTMENTS (1,270,324.51)

NET INCOME (LOSS) BROUGHT FORWARD 1,888,701.94 618,377.43 1,787,974.06
NET INCOME (LOSS) CARRIED FORWARD 723,135.27 1,888,701.94

CURRENCY: BIRR

30 SENE 2009
ACTIVITIES
Depreciation 57,219.75 71,656.92
Prior Year Adjustment (1,270,324.51) -
Increase in Incentory of construction materials 1,254,207.18 (858,976.88)
Increase in trade & other receivable 32,805.89 (182,691.93)
Decrease in trade & other payables 5,214.70 (252,510.70)
Profit tax paid - (71,552.27)
Cash generated from operations 152,153.21 (1,226,152.87)
Net increase (decrease) in cash & cash equivalents 152,153.21 (1,226,152.87)

Cash & cash equivalent at the beginning of the year 209,593.31 1,435,746.17
Cash & cash equivalents at the end of the year 361,746.53 209,593.31

Bank overdraft -
Cash on hand and at bank 363,246.53 209,593.31
363,246.53 209,593.31
(1,500.00) 0.00
CURRENCY: BIRR
Accmulated Legal
Balance at 30 Sene 2008 1,115,000.00 1,787,974.06 - 2,902,974.06
Prior year adjustment - -
Balance at 30 Sene 2009 1,115,000.00 1,888,701.93 - 3,003,701.93
Prior year adjustment (1,270,324.51)
Balance at 30 Sene 2010 1,115,000.00 723,135.26 - 1,838,135.26

BACKGROUND

ACCOUNTING POLICIES
a) Fixed Assets

%
Motor vehicle 20
Other Assets 20

expense.
3 FIXED ASSETS
Tools 122,695.55 122,695.55
Other Assets 87,293.50 87,293.50
1,042,859.32 - 1,042,859.32
DEPRECIATION
Tools 84,764.48 7,586.21 92,350.69
Other Assets 62,270.71 5,004.56 67,275.27
758,347.41 57,219.75 815,567.16
NET BOOK BOOK 284,511.91 227,292.16
Retention 1,213,946.52 1,213,946.52

Withholding tax 32,805.89 32,805.89
Value Added Tax 87,692.30 87,692.30
1,448,051.36 1,448,051.36
Cash on hand - -
Cash at Bank 363,246.53 209,593.31
363,246.53 209,593.31
Income tax 93,954.14 73,853.42
Accruals 1,500.00 -
Pension payable 82,642.24 57,131.92
Value added tax 19,780.13 61,676.47

197,876.51 192,661.81
Penality - - 23,928.83

1,078.26 -
DIRECT LABOUR - 306,348.60
CONSTRUCTION MATERIALS 20,637.92 1,420,908.17
Material and Equipment Trasport - 25,000.00
Repair and Maintenance 264,541.29 101,335.64
Sub Contract Costs - 69,014.84
Depreciation 53,501.20 66,876.51
1,696,256.18 4,716,747.55
30 SENE 2011


disclosures in the financial statements. The procedures selected depend on the auditor’s judgment,
including the assessment of the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor considers internal control
relevant to the entity’s preparation and fair presentation of the financial statements in order to design
audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of accounting estimates made by
management, as well as evaluating the overall presentation of financial statements.
Unqualified opinion

2
AS AT 30 SENE 2011
CURRENCY:BIRR
CURRENT ASSETS
Inventory of Construction materials - -
Cash and bank balance 5 1,121,902.29 363,246.53

2,569,953.65 1,811,297.89
Total Assets 2,751,549.35 2,038,590.05
Paid up capital 1,115,000.00 1,115,000.00
Accumulated Profit (Loss) 1,071,650.81 724,110.29
Total equity 2,186,650.81 1,839,110.29
CURRENT LIABILITIES

Provision for Taxation 7 70,485.00 1,603.26
564,898.53 199,479.77
(0.00) 0.01
CURRENCY:BIRR
Notes 30 SENE 2010
GROSS PROFIT 708,928.74 298,528.21

Stationary & Office supplies 1,854.39 674.00
office Rent 49,000.00 -
Utilities 15.00 -
Other expenses 2,154.08 347.83
Accounting fee 5,000.00 1,500.00
(201,943.30) (163,554.62)
PRIOR YEAR ADJUSTMENTS - (1,270,324.51)

NET INCOME (LOSS) BROUGHT FORWARD 724,110.28 724,110.28 1,888,701.94
NET INCOME (LOSS) CARRIED FORWARD 1,071,650.81 724,110.28

CURRENCY: BIRR

30 SENE 2010
ACTIVITIES
Depreciation 45,696.46 57,219.75
Prior Year Adjustment - (1,270,324.51)
Increase in Incentory of construction materials - 1,254,207.18
Increase in trade & other receivable 32,805.89 32,805.89
Decrease in trade & other payables 296,537.02 5,214.70
Profit tax paid (1,603.26) -
Cash generated from operations 758,655.76 153,653.21
Net increase (decrease) in cash & cash equivalents 758,655.76 153,653.21

Cash & cash equivalent at the beginning of the year 363,246.53 209,593.31
Cash & cash equivalents at the end of the year 1,121,902.29 363,246.53

Bank overdraft -
Cash on hand and at bank 1,121,902.29 363,246.53
1,121,902.29 363,246.53
0.00 (0.00)
CURRENCY: BIRR
Accmulated Legal
Balance at 30 Sene 2009 1,115,000.00 1,888,701.94 - 3,003,701.94
Prior year adjustment (1,270,324.51) - (1,270,324.51)
Balance at 30 Sene 2010 1,115,000.00 724,110.27 - 1,839,110.27
Prior year adjustment -
Balance at 30 Sene 2011 1,115,000.00 1,071,650.80 - 2,186,650.80

BACKGROUND

ACCOUNTING POLICIES
a) Fixed Assets

%
Motor vehicle 20
Other Assets 20

expense.
3 FIXED ASSETS
Tools 122,695.55 122,695.55
Other Assets 87,293.50 87,293.50
1,042,859.32 - 1,042,859.32
DEPRECIATION
Tools 92,350.69 6,068.97 98,419.66
Other Assets 67,275.27 4,003.65 71,278.91
815,567.16 45,696.46 861,263.62
NET BOOK BOOK 227,292.16 181,595.70
Retention 1,213,946.52 1,213,946.52

Value Added Tax 87,692.30 87,692.30
1,448,051.36 1,448,051.36
Cash on hand - -
Cash at Bank 1,121,902.29 363,246.53
1,121,902.29 363,246.53
Income tax 101,355.24 93,954.14
Accruals 5,000.00 1,500.00
Pension payable 104,242.24 82,642.24
Value added tax 283,816.05 19,780.13

494,413.53 197,876.51
Penality - - -

70,485.00 1,603.26
DIRECT LABOUR 873,168.13 -
CONSTRUCTION MATERIALS 2,886,135.90 20,637.92
Depreciation 42,800.96 53,501.20
6,035,890.99 1,696,256.18
30 SENE 2012


Unqualified opinion

2
AS AT 30 SENE 2012
CURRENCY:BIRR
CURRENT ASSETS
Inventory of Construction materials - -
Cash and bank balance 5 246,280.34 1,121,902.29

4,666,151.51 2,569,953.65
Total Assets 4,811,249.55 2,751,549.35
Paid up capital 1,115,000.00 1,115,000.00
Accumulated Profit (Loss) 1,401,231.72 1,071,650.82
Total equity 2,516,231.72 2,186,650.82
CURRENT LIABILITIES
Trade and other payables 6 2,213,665.46 494,413.53

Provision for Taxation 7 81,352.36 70,485.00
2,295,017.82 564,898.53
(0.00) (0.00)
CURRENCY:BIRR
Notes 30 SENE 2011
GROSS PROFIT 628,992.35 708,928.74

Stationary & Office supplies 1,690.17 1,854.39
office Rent - 49,000.00
Utilities - 15.00
Other expenses 25,250.04 2,154.08
Accounting fee 5,000.00 5,000.00
(149,637.10) (201,943.30)
PRIOR YEAR ADJUSTMENTS - -

NET INCOME (LOSS) BROUGHT FORWARD 1,071,650.81 1,071,650.81 724,110.26
NET INCOME (LOSS) CARRIED FORWARD 1,401,231.72 1,071,650.81

CURRENCY: BIRR

30 SENE 2011
ACTIVITIES
Depreciation 36,497.66 45,696.46
Increase in trade & other receivable (2,939,013.92) 32,805.89
Decrease in trade & other payables 1,719,251.93 296,537.02
Profit tax paid (70,485.00) (1,603.26)
Cash generated from operations (875,621.95) 758,655.76
Net increase (decrease) in cash & cash equivalents (875,621.95) 758,655.76

Cash & cash equivalent at the beginning of the year 1,121,902.29 363,246.53
Cash & cash equivalents at the end of the year 246,280.34 1,121,902.30

Bank overdraft -
Cash on hand and at bank 246,280.34 1,121,902.29
246,280.34 1,121,902.30
(0.00) 0.00
CURRENCY: BIRR
Accmulated Legal
Balance at 30 Sene 2010 1,115,000.00 724,110.26 - 1,839,110.26
Prior year adjustment - - -
Balance at 30 Sene 2011 1,115,000.00 1,071,650.80 - 2,186,650.80
Prior year adjustment -
Balance at 30 Sene 2012 1,115,000.00 1,401,231.71 - 2,516,231.71

BACKGROUND

ACCOUNTING POLICIES
a) Fixed Assets

%
Motor vehicle 20
Other Assets 20

expense.
3 FIXED ASSETS
Tools 122,695.55 122,695.55
Other Assets 87,293.50 87,293.50
1,042,859.32 - 1,042,859.32
DEPRECIATION
Computer & Data Storage 25,916.47 892.60 26,809.07
Tools 98,419.66 4,855.18 103,274.84
Other Assets 71,278.91 3,202.92 74,481.83
861,263.62 36,497.66 897,761.28
NET BOOK BOOK 181,595.70 145,098.04
Trade 3,037,263.05 -
Retention 1,148,503.28 1,213,946.52
Value Added Tax 87,692.30 87,692.30
4,419,871.17 1,448,051.36
Cash on hand - -
Cash at Bank 246,280.34 1,121,902.29
246,280.34 1,121,902.29
Trade 824,415.15
Project Advance 1,174,631.62
Income tax 120,392.10 101,355.24
Accruals 5,000.00 5,000.00
Pension payable 86,128.64 104,242.24
Value added tax 3,097.95 283,816.05
2,213,665.46 494,413.53
Penality - - -

81,352.36 70,485.00
DIRECT LABOUR 967,516.40 873,168.13
CONSTRUCTION MATERIALS 3,370,048.93 2,886,135.90
Depreciation 34,240.77 42,800.96
7,767,912.07 6,035,890.99
no name position profession year
1 Abduselam Nasser Project manager Bachelor of Science in Civil 13 years
kelil Engineering
2 Abdulaziz Kedir Office Engineer B.Sc. Degree in construction 11 years

Technology
3 Debella Bekssisa Site Engineer B.Sc. Degree in Civil 8 years
Engineering
4 Hussen Mohammed Structural Engineer B.Sc. Degree in Civil 8 years
Engineering
5 Mintesinot Nigussie Material Engineer B.Sc. Degree in Civil 8 years
Engineering
6 Asrat Abdissa Geotechnical BSC. In civil Engineering 11 years
Engineer
7 Wubshet Birhanu Hydraulic Engineer BSC degree in Hydraulic 18 years
Engineering
8 Dawit Assefa Chief Surveyor Diploma in Surveying 15 years
9 Nuredin Imam Quantity Surveyor B.Sc. Degree in Civil 5 years
Engineering
10 Lelise Fikadu Laboratory BSc. In Civil Engineering 7 years
Technician
Personnel
The Following Team Skill Matrix identifies the personnel to be employed on the contract
and their skill that are relevant to the role in the contract team and are required for
successful execution of the contract: -
FORM PER 1: Proposed personnel:-
Expert Name Abduselam Nasser
Title of Position Project Manager
Nationality Ethiopian
Qualification Knowledge Level Resume Page Comment
Reference
Civil Engineer B.Sc. Degree in P
Civil Engineering
Professional license
Years of general experience Knowledge Level Resume Page Comment
Reference
12 Years overall Experience Project Manager P
Additional Knowledge and Experience Knowledge Level Resume Page Comment

Reference
P
Experience indicated in the matrix is backed up in the individual’s resume.

We have used the following rating in order to accurately reflect the skill ratings of our team:
U Understanding Has exposure to education in the subject area but has not used this
skill set in practice.
W Working Has limited working experience using this skill set?
P Proficient Has hands-on experience using this skill set to implement between
2 to 5 projects of various scope/ complexity.
X Expert Has hands –on experience using this skill set in a key role to
implement more than 5 project of various scope/complexity.
Curriculum Vitae for Proposed Personnel-1
1. Proposed Position: - Project Manager

2. Name of Firm: - AKAL Construction Enterprise
3. Name of Staff: - Abduselam Nasser Nationality: -Ethiopian
4. Date of Birth: - Oct 22, 1987 GC
5. Education: - BSc in Civil Engineering from Arbaminch University
6. Membership of Professional Association:
7. Other Training: -Computer Literate Microsoft Word, Excel, MS- Project &
Auto Cad
8. Countries of Work Experience: - Ethiopia
9. Languages: -
Speaking Reading Writing
Affan Oroma ………..Excellent …………….Excellent …………..Excellent
Amharic …………… Excellent ……………. Excellent …………..Excellent
English………………Excellent ……………. Excellent …………..Excellent
10. Employment Record:-
Employer Record 1
From: July, 2017 GC - Up to date
Employer: AKAL Construction Enterprise
Position held: Project Manager
Project: Different project
Employer Record 2
From: Jan. 28, 2013 to Jan. 23, 2017 GC
Employer: A.M.B Contractor PLC
Position Held: Project Manager
Project: Jigjiga University Asphalt Road project
Employer Record 3
From: Dec. 15, 2010 to Sep. 27, 2012 GC
Employer: FLINTSTONE ENGINEERING
Position Held: Construction Engineer
Project: Real estate development
Employer Record 4
From: Feb, 2009 to Jan, 2011GC
Employer: PREFABRICATED BUILDING PARTS PRODUCTION
ENTERPRISE
Position Held: Project Engineer
Project: Head Office (Addis Ababa)
13. Certification:-
11. Detail Tasks Assigned:- 12. Work Undertaken that Best Illustrates Capability to
-Control project daily activity as of Handle the Tasks Assigned:
planned schedule and allocation of Name of Assignment or Project:-
labor material and equipment Year:-
- Have discussion with the clients Location:-
and subcontractors for short Client: -
comings and claims during the Main project features:
construction period. Positions held: - Project Manager
- Evaluation of working labor, Activity Performed: - Leading both the project site works
material and equipment schedule in accordance with the contract agreement, design drawing
- Evaluation on daily, weekly and and specification
cumulative monthly project
progress report
- prepare work methodology of the
project
- Preparation of working labor,
material and equipment schedule.
I, the undersigned, certify that to the best of my knowledge and, this CV Correctly describes
myself, my qualifications, and my experience. I understand that any willful misstatement
described herein may lead to my disqualification or dismissal, if engaged.
_____________________________ Date: - _____________________________
Full name of authorized representative:-______________________________________

1: Proposed personnel
Expert Name Abdulaziz Kedir
Title of Position Office Engineer

Reference
Civil Engineer B.Sc. Degree in P
construction Technology
Years of experience ( with the Knowledge Level Resume Page Comment

Company/ Reference
in works)
10 Years overall Experience Office Engineer P

Reference
P

1. Proposed Position: - Office Engineer

3. Name of Staff: - Abdulaziz Kedir Lombebo Nationality: -Ethiopian
4. Date of Birth: - 1980 E.C
5. Education: - Degree in Construction Technology from Adama University
6. Membership of Professional Association: -
7. Other Training: - Computer Literate Microsoft Word, Excel, MS- Project &
Auto Cad
8. Countries of Work Experience: - Ethiopian
9. Languages: -
Affan Oromo………… Excellent ………….. Excellent …………Excellent
Amharic ……………Excellent…………… Excellent …………… Excellent
English……………… Excellent …………… Excellent ………….. Excellent
10. Employment Record:-
Employer Record 1
From: - March 2015 - Up to date
Employer: -AKAL Construction Enterprise
Positions held: - Office Engineer
Project: Different Projects
Employer Record 2
From: - Aug 2014 - Feb 2015
Employer: MAN General Contractor
Positions held: - Office engineering unit head
Project: Head Office
Employer Record 3
From: - March 2013-May 2014
Employer: Yemane Girmay General Contractor MAN General Contractor
Positions held: - Office Engineer and Office engineering unit head
Project: Tendaho Sugat Factory & Rigid Pavement road in the factory
Employer Record 4
From: - February 2012 - March 2013
Employer: YENCOMAD Inc. PLC
Positions held: - ________________________________Project.
11. Detailed Tasks assigned :
Preparation of work schedule using 12. Work Undertaken that best illustrates
Microsoft project, Setting Plans and Capability to Handle the tasks assigned
implement accordingly, Preparation of Name of assignment or project:
Technical & Monthly Report, Year :
Preparation of Claim, Preparation of Location:
cost breakdown for Variation Order, Client :
Organizing Warranties / Guarantees, Main project features:
Ensure the timely preparation of work
measurements and payment
certifications
Employer Record 5
From: - Dec 2010- Dec 2011
Employer: DAZ consultants & Architects
Positions held: - Quantity Surveyor
Project: Hawassa City Housing Development Projects
13. Certification:-
__________________________________________ Date:-_________________________
Full name of authorized representative:-________________________________________

Personnel
FORM PER 1: Proposed personnel:-

Expert Name Mintesinot Nigussie
Title of Position Material Engineer
Reference
Material Engineer B.Sc. Degree in Civil P
Engineering
Years of general experience Knowledge Level Resume Page Comment
Reference
10 Years overall Experience Material Engineer P
Additional Knowledge and Knowledge Level Resume Page Comment

Experience Reference
MSC in construction P
Engineering Management
Curriculum Vitae for key Personnel-11
1. Proposed position: Material Engineer

2. Name of Firm: AKAL Construction Enterprise
3. Name of Staff: Mintesinot Nigussie
4. Date of Birth: 1980 E.C Nationality: Ethiopian
5. Education: MSC. Construction Management from Jimma University
6. Membership of professional:
7. Other Training: Computer & Professional Trainings Basic Managerial Skills
8. Countries of work experience: Ethiopia
9. Language
Affan Oromo……… …Excellent ……………Excellent ………………Excellent
Amharic ……………..Excellent …………… Excellent ……………….Excellent
English……………… Excellent …………… Excellent ……………. Excellent
10. Employment Record
Employment Record I
From: July 2010 – March 2011
Employer: Oromia Water Works Enterprise
Position Held: Construction Engineer
Project: Treatment Plant
Employment Record II
From: Nov 2011 – Sep 2013
Employer: GKP Construction & import
Position Held: Material Engineer
Project: Jimma Road and Drainage
Employment Record III
From: Oct 2013 - Jan 2017
Employer: Wubcon General Contractor
Project: Different Building Projects
Employment Record IV
From: Feb 2017- July 2017
Employer: GKP Construction & Import
Position held: Material Engineer
Employment Record V
From: June, 2017- July 2018
Employer: MCG Construction PLC
Project: 2B +G+3 Building
Employment Record VI
From: Sep 2018 –June 2019
Employer: Mengesha Legesse Building Contractor
Position held: Contract Administration Head
Employment Record IIV
From: July 2019 – Up to date
13. Certification:-
__________________________________________ Date:-_________________________

Personnel
1: Proposed Personnel:
Expert Name Hussen Mohammed
Title of Position Structural Engineer

Reference
Civil Engineer B.Sc. Degree in Civil P
Engineering

Company/ Reference
in works)
7 Years overall Experience Structural Engineer P

Reference
P

1. Proposed Position: - Structural Engineer

3. Name of Staff: - Hussen Mohammed Nationality: -Ethiopian
4. Date of Birth: April 22, 1991 GC
5. Education: - BSc. In Civil Engineering
7. Other Training: -Computer Literate Microsoft Word, EXCEL AutoCAD
9. Languages: -
Affan Oromo……….. Excellent…………….Excellent ……………..Excellent
Amharic ……………..Excellent…………… …Excellent ……………Excellent
English………………..V. Good ……………. V. Good ……………….V. Good
Employment Record 1
From: Aug, 2013 – Up to date
Position held: Site Engineer
13. Certification:-
_____________________________ Date: - _____________________________

Personnel
Proposed personnel:
Expert Name Debella Bekssisa
Title of Position Site Engineer
Reference
Civil Engineer B.Sc. Degree in Civil P
Engineering
Company/ Reference
in works)
7 Years overall Experience Site Engineer P

Reference
1. Proposed Position: - Site Engineer

3. Name of Staff: - Debella Beksissa Nationality: -Ethiopian
4. Date of Birth: June, 1991 GC
5. Education: - BSC. In Civil Engineering from Adama University
7. Other Training: -Computer Literate Microsoft Word, EXCEL AutoCAD
9. Languages: -
Affan Oromo……….Excellent…………….Excellent………………Excellent
Amharic ……………V. Good…………… …V. Good ……………V. Good
English………………Excellent ……………. Excellent ……………Excellent

Employment Record 1
From: October 2014 – To date
Projects: Different project
Employment Record 2
From: Dec 2013 – Oct 2014GC
Employer: Tsegaye Megerssa Building Contractor
13. Certification:-
_____________________________ Date: - _____________________________

Personnel
FORM PER 1: Proposed Personnel:-6

Expert Name Asrat Abdissa
Title of Position: Geotechnical Engineer
Nationality: Ethiopian
Resume Page
Qualification Knowledge Level Comments
Reference
Geotechnical Engineer BSC. In civil Ample experience in
Engineering construction projects
Years of experience Resume
Knowledge Level page Comments
Reference
10 Year MSC. In Civil
_ Hard Worker
Engineering /
Geotechnical
U Understanding Has exposure to education in the subject area but has not used
this skill set in practice.
P Proficient Has hands-on experience using this skill set to implement
between 2 to 5 projects of various scope/ complexity.
Curriculum Vitae for Proposed Personnel- 12
1. Proposed position: Geotechnichal Engineer

3. Name of Staff: Asrat Abdissa
4. Date of Birth: Jan 1978 E.C Nationality: Ethiopian
5. Education:
 MSc In Geotechnical from Jimma University in June ,2016G.C
 BSc Degree in civil Engineering from Mekelle University,
Faculty of in July, 2010 G.C.
 Completed High School (grade 9 to 12) in Holeta High School
From 1993-1994
 Elementary School (Grade 1 -8) in Gindeberet Kachisi
Elementary School From 1984-1991
6. Countries of work experience: Ethiopia

7. Language
Afan Oromo………… Excellent …………….. Excellent ………….. ….Excellent

Amharic………………. Excellent …………….Excellent…..................... Excellent
English……………….. Excellent ………… …… Excellent …………… Excellent
Employment Record 1
From: Jan 2017 –up to date
Employment Record 2
From: April 2011 – Jan 2017
Employer: Oromia Water Works Design & Supervision Enterprise
Project: Jima Zone Cira – Afalo & Senxu – Bege Rural Road projects, Shenen –
Babichi & Hararto –Wayu DS 6, Senxu – Bege, Chira – Afalo &
Shanan – Gudar Babnichi road projects
Employment Record 3
From: Oct 2010 – April 2011
Employer: Horo Gudru Zone Road Authority
Position held: Construction Engineer
9. Certification:-
_____________________________________ Date:-_________________________

Personnel
FROM PER 1: Proposed personnel:-
Expert Name Dawit Assefa
Title of Position Chief Surveyor
Reference
Surveyor Diploma in Surveying P
Company/ Reference
in works)
13 Years overall Experience Surveyor P
Additional Knowledge and Knowledge Level Resume Page Comment

P
Curriculum Vitae for Proposed Personnel – 8
1. Proposed Position: - Chief Surveyor

3. Name of Staff: - Dawit Assefa Nationality: -Ethiopian
4. Date of Birth: May 1987 G.C
5. Education: Diploma in Surveying
6. Membership of professional Associations:
7. Other Training: Computer & Professional Trainings
8. Countries of work experience : Ethiopia
9. Languages: -
Affan Oromo………….Excellent …………….Excellent…………………….Excellent
Amharic ………………. Excellent …………… … Excellent ………………. Excellent
English…………………. Excellent ……………. Excellent ………………….. Excellent
Employment Record 1
From: Sep 2007 – Sep 2008
Employer: Ministry of Defense Kality Construction & Material Production
Position held: Surveyor
Employment Record 2
From: Apr 2008 – Jul 2011
Employer: DMC construction P.L.C
Project: Humbo Arbaminch Road Project
Employment Record 3
From: Jul 2011 – Dec 2013
Employer: MAT General Contractor
Project: Bulle Hora University
Employment Record 4
From: July 2013- Up-to-date
Position held: Chief Surveyor
Project: Different projects
12. Work Undertaken that best illustrates
11. Detailed Tasks assigned
Capability to Handle the tasks assigned
Topographic, cross-sectional, and setting
Name of assignment or project: Positions held :
out data collection and Submittal to the
Activities performed : Refer Item No 11
engineer for Approval.
13. Certification:-
__________________________________________ Date:-_________________________

Personnel
FROM PER 1: Proposed personnel:-

Expert Name Lelise Fikadu
Title of Position: Laboratory Technician
Nationality: Ethiopian
Resume Page
Qualification Knowledge Level Comments
Reference
Laboratory Technician Ample experience

BSc. In Civil
in construction
Engineering
projects
Years of experience Resume page
Knowledge Level Comments
Reference
6yrs BSc. In Civil _ Hard Worker

Engineering.
Additional Knowledge and Resume page
Knowledge Level Comments
_Very good in team
work
U Understanding Has exposure to education in the subject area but has not used
this skill set in practice.
P Proficient Has hands-on experience using this skill set to implement
between 2 to 5 projects of various scope/ complexity.
1. Proposed position: Laboratory Technician

3. Name of Staff: Lelise Fikadu
4. Date of Birth: Nov 24,1991 GC
5. Nationality: Ethiopian
6. Education: BSc in Civil Engineering
7. Countries of work experience: Ethiopian
8. Language
Affan Oromo ………… Excellent ……………Excellent ……………Excellent
Amharic ………………Excellent ……………Excellent ………………Excellent
English………………… Excellent …………… Excellent ……………. Excellent
Employment Record 1
From: Aug 2015 Up to date
Position held: Laboratory Technician
10. Certification
The undersigned certify that to the best of my knowledge and belief, this CV correctly
describes me, my qualifications, and my experience. I understand that any willful
misstatement described herein may lead to my disqualification or dismissal, if engaged.
_____________________________________ Date:-_________________________

No Equipment Type Characteristics Number
1 Concrete Mixer 750Lt 750lit 2
2 Concrete Mixer 350Lt 350lit 4
3 Concrete Vibrator 8
4 Dump Trucks 132 Quintal 2
5 Scaffoldings 2000m2
6 Panel 89
2
7 Excavator (with Jack Ham. Hammer) 1.5m3 1
m2
8 Grader 2.5m3 1
9 De- watering pump 3
10 Water Truck (12,000-14,000)Liters 2
11 Surveying Instrument Total Station and Level 1

ea
12 Transport Vehicle Pick Up ch2

Akal Company Profile For Wadessa Bridge

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COMPANY PROFILE

AKAL construction enterprise

 Annual Turnover of the Company

 External Audit Report

4. Company Key Personnel

5. Machinery and Equipment’s

 Work Methodology

AKAL CONSTRUCTION established at Nekemte Oromiya Ethiopia in 2004 E.C before 10

AKAL CONSTRUCTION is owned and Managed by Ato TADESSE TUFA DEBELE

OUR CORE VALUES

We will ensure a comfortable working environment for our employees.

PPPA Web Site Registration

TIN Registration Certificate

Certificate of Competence from OCA/ATKO

LAGGA WACHU GUTO GIDA

LAGA WAMA 4 GUTO GIDA

LAGA KERSA 4 GUTO GIDA

We have audited the accompanying financial statements of Akal Construction Enterprise

Management’s Responsibility for the Financial Statements

Our responsibility is to express an opinion on these financial statements based on our

accounting policies of the Company.

Addis Ababa Ama – Hai

Property,Plant & Equipment 2a,3 284,511.91 356,168.83

Inventory of Construction materials 1,254,207.18 395,230.30

Trade & Other receivables 4 1,448,051.36 1,232,553.54

Cash and bank balance 5 209,593.31 1,435,746.17

EQUITY AND LIABILITIES

CAPITAL AND RESERVES

Paid up capital 1,115,000.00 1,115,000.00

Accumulated Profit (Loss) 1,888,701.93 1,787,974.06

Total equity 3,003,701.93 2,902,974.06

Trade and other payables 6 192,661.81 445,172.51

CONSTRUCTION INCOME 5,242,243.62 8,419,672.66

LESS: CONSTRUCTION COSTS 8 4,716,747.55 7,764,709.15

GROSS PROFIT 525,496.07 654,963.51

Salary and Benefits 255,646.48 115,440.00

NET INCOME (LOSS) BEFORE TAX 140,158.41 502,123.49

PROVISION FOR TAXATION 7 (39,430.53) (157,743.22)

NET INCOME (LOSS) AFTER TAX 100,727.88 344,380.27

NET INCOME (LOSS) BROUGHT FORWARD 1,787,974.06 1,443,593.79

NET INCOME (LOSS) CARRIED FORWARD 1,888,701.93 1,787,974.06

CASH FLOW FROM OPERATING

Net increase (decrease) in cash & cash equivalents (1,226,152.87) (710,390.90)

Components of Cash and Cash Equivalents

Balance at 30 Sene 2007 1,115,000.00 1,443,593.79 - 2,558,593.79

Transferred to legal reserve - - -

Net profit/Loss for the year - 344,380.27 - 344,380.27

Prior year adjustment - -

Balance at 30 Sene 2008 1,115,000.00 1,787,974.06 - 2,902,974.06

Transferred to legal reserve

Net profit/Loss for the year 100,727.88

Prior year adjustment

Balance at 30 Sene 2009 1,115,000.00 1,888,701.93 - 3,003,701.93

Akal construction was established on 24/01/2004 E.C. as with registered

Fixed assets are stated at cost less depreciation. Depreciation is

b) Income and Expense Recognition

Accrual basis of accounting is applied in recognition of Income and Expense.

NET BOOK BOOK 356,168.83 284,511.91

4 TRADE & OTHER RECEIVABLES

Retention 1,213,946.52 1,118,946.89

5 CASH AND BANK BALANCES

6 TRADE & OTHER PAYABLES