N.K.ROY & CO.

Chartered Accountants

RTCL PROPRETIES & DEVELOPERS LTD.

Statement of Financial Position
As at 30th June 2022

Amount in Taka Amount in Taka

Particulars Notes
30th June 2022 30th June 2021

ASSETS:

NON-CURRENT ASSETS 3,211,774 3,232,955

Property, Plant & Equipment 4.00 3,211,774 3,232,955

CURRENT ASSETS 18,859,786 15,480,667

Advance & Deposit 5.00 220,700 220,700
Advance Tax Deduction at Source 6.00 280,015 280,015
Cash & Cash Equivalent 7.00 1,546,334 408,910
Constraction Work In Progress 8.00 16,812,737 14,571,042

TOTAL ASSETS 22,071,560 18,713,622

EQUITY & LIABILITIES:

SHARE HOLDERS' EQUITY (3,303,733) (2,603,751)

Share Capital 9.00 3,000,000 3,000,000
Retained Earnings 10.00 (6,303,733) (5,603,751)

NON CURRENT LIABILITIES 5,334,722 5,881,802

Long term Loan 11.00 5,334,722 5,881,802

CURRENT LIABILITIES 20,040,571 15,435,571

Liabilities for Expenses 12.00 30,000 25,000
Provissiin for Income Tax 13.00 280,015 280,015
Advance Receive Against Flat Sale 14.00 19,730,556 15,130,556

TOTAL EQUITY & LIABILITIES 22,071,560 18,713,622

(0) -
The Annexed notes from as integral part of these Financial Statements.

Managing Director

Place: Dhaka
Date: The 5th December 2022
 N.K.ROY & CO.Chartered Accountants

RTCL PROPRETIES & DEVELOPERS LTD.

Statement of Profit or Loss and other Comprehensive Income
For the year ended 30th June 2022

Amount in Taka Amount in Taka

Particulars Notes
30th June 2022 30th June 2021

Turn Over 15.00 - 3,063,000

Cost of Goods Sold 16.00 - (2,603,550)

Gross Profit - 459,450

Operating Expenses (231,331) (221,285)

Administrative & Selling Expenses 17.00 (231,331) (221,285)

Operating Profit (231,331) 238,165

Financial Expenses 18.00 (468,650) (525,024)

Net profit before Tax - 82-C (699,982) (286,859)

Income Tax: 82-C - 413,396.00

Net Profit/ (Loss) after Tax (699,982) (286,859)

The Annexed notes from as integral part of these Financial Statements.

Managing Director

Place: Dhaka
Date: The 5th December 2022
 N.K.ROY & CO.Chartered Accountants

RTCL PROPRETIES & DEVELOPERS LTD.

Notes to the Financial Statement
For the year ended 30th June 2022
1.00 Background and Activities

1.01 Legal form and Country of incorporation

Panorama Washing Co. Limited. is a Private Limited Company incorporated in Bangladesh under the Companies
Act 1994 vide Reg. No-C-84101/10, dated April 22, 2010.

1.02 Nature of the business

The company has been established to carry on the business of all kind of construction of Multi -Storied building and flat
and act as Developers.Also to build the Commercial Complex and to transfer the possession of shops,office,lease,
mortgage and any way can transfer the commercial complex.

1.03 Address of Registered Office and Principal Place of Business

102/A, KAKRAIL (4TH FLOOR), DHAKA.

02 Basis of Preparation of Financial Statements

2.1 Statement of Compliance

The financial statements have been prepared on a going concern basis following accrual basis of accounting, in
accordance with the Companies Act, 1994, Bangladesh Accounting Standards and Bangladesh Financial Reporting
Standards, except the circumstances where local regulations differ, and other applicable laws and regulations.

2.2 Basis of Measurement

The elements of financial statements have been measured on "Historical Cost" basis.

2.3 Functional and Reporting Currency

The financial statements are presented in Bangladesh Currency (Taka).

2.4 Presentation of Financial Statements

The presentation of these financial statements are in accordance with the guidelines provided by BAS 1 "Presentation of
Financial Statements".

The Financial Statements comprise of:

(a) Statement of Financial Position as at 30th June, 2022;
(b) Statement of Profit or Loss and Other Comprehensive Income for the year ended 30th June, 2022;
(c) Statement of Changes in Equity for the year ended 30th June, 2022;
(d) Statement of Cash Flows for the year ended 30th June, 2022; and
(e)Summery of Significant Accounting Policies and Other Explanatory Information for the year ended 30th June, 2022.

2.5 Reporting Period

The Financial Statements cover period from 01st July, 2021 to 30th June, 2022.

2.6 Use of Estimates and Judgments

The preparation of financial statements in conformity with the IFRSs including IASs require management to make
judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of
assets, liabilities, income and expenses that require disclosure, during and at the date of the financial statements.
 N.K.ROY & CO.Chartered Accountants

Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis.
Any revision of accounting estimates are recognized in the period in which the estimate is revised and in any future periods
affected.

In particular, the key areas of estimation, uncertainty and critical judgments in applying accounting policies that have the
most significant effect on the amounts recognized in the financial statements include depreciation, inventory valuation,
accrued expenses and liabilities for expenses.

2.7 Going Concern

It has been reviewed by the management that there was no significant going concern threat to the operation of the
company.

2.8 Directors' Responsibility Statement

The Board of Directors takes the responsibility for the preparation and presentation of this financial statements.

2.9 Significant Accounting Policies

The accounting principles and policies in respect of material items of financial statements set out below have been applied
consistently to all periods presented in this financial statements.

2.10 Revenue Recognition

In compliance with the requirements of IAS 18, revenue from customers against sales are recognized when products are
dispatched to customers, that is when the significant risk and rewards of ownership are transferred to the buyers, recovery
of the consideration are confirmed, the associated costs and possible return of goods can be estimated reliably, and
management has no control on the goods.

2.11 Property, Plant and Equipment

2.11.1 Recognition and Measurement

Property, Plant and Equipment owned by the company are stated at their cost less accumulated depreciation in
accordance with IAS 16, "Property, Plant and Equipment". Cost represents cost of acquisition or construction and include
purchase price and other directly attributable cost of bringing the assets to working conditions for its intended use.

2.11.2 Subsequent Expenditure

Subsequent expenditure is capitalized only when it increases the future economic benefit from the assets and that cost can
be measured reliably. All other expenditures are recognized as an expense, when ever they incurred.

2.11.3 Depreciation
In respect of fixed assets, depreciation is provided to amortize the cost of the assets after commissioning, over their
expected useful economic lives. Depreciation is computed as per Reducing Balance Method. Depreciation is provided on
addition to assets when purchased.

The annual depreciation rates applicable to the principal categories are:

Office Decoration 10%

Furniture & Fixture (Factory) 10%
Office Equipments- 20%
Office Computer 20%
C.C. T.V/Camera 20%

The details are shown in Annexure -01

 N.K.ROY & CO.Chartered Accountants

2.11.4 Impairment of Assets

No fact and circumstances indicate that company's assets including property, plant and equipment may be impaired.
Hence, evaluation of recoverability of assets was not performed.

2.12 Inventories
The valuation basis of the inventories is followed as per IAS-2 'Inventories' and adopted by the management:

2.13 Cash and Cash Equivalents

According to IAS-7, "Statement of Cash Flows", cash comprises cash in hand and bank deposits and, cash equivalents are
short term highly liquid investments that are readily convertible to known amounts of cash and which are subject to an
insignificant risk of changes in value. IAS-1 "Presentation of Financial Statements " provides that cash and cash equivalent
are not restricted in use.

2.14 Rounding Off of Figures

Figures have been rounded off to the nearest Taka.

2.15 Contingent Asset and Liabilities

The management does not recognize any contingent asset or liability.

2.16 Event Occurring after the date of the Financial Statements

No significant event has occurred that might affect the financial statements.

3.00 Share holder's equity

Break-up:
a) Authorised capital of the company consisting of 10,00,000.00 ordinary shares of
TK. 100/- each total Tk. 10,00,00,000.00
b) Paid-up capital of the company consisting of 30,000 Ordinery shares of Tk. 100 each
Issued & fully paidup.

c) Composition of Share Holders

List of Shareholders are given below:

No of Total (TK) Total (TK)

Name of the Shareholders
Shares Face Value 30th June 2022 30th June 2021
Ebadul Haque Chowdhury 7,250 100 725,000 725,000
Md.Yeakub Ali Meajee 5,750 100 575,000 575,000
Md.Nasheir Ullah Mozumder 1,000 100 100,000 100,000
Abdur Razzak Bhuiyan 1,000 100 100,000 100,000
Md.Mizanur Rahman Bhuiyan 500 100 50,000 50,000
Shahadat Hossain (Saka) 2,000 100 200,000 200,000
Mohd Mozahedul Islam 2,000 100 200,000 200,000
Md.Alamgir Meajee 1,000 100 100,000 100,000
Md.Yeasin Meajee 1,000 100 100,000 100,000
Ms.Zohora Akter 1,000 100 100,000 100,000
Md.Rafique 1,000 100 100,000 100,000
Monira Begum 1,000 100 100,000 100,000
Md.Nurul Huda Chowdhury 1,000 100 100,000 100,000
Md.Mizanur Rahman 1,000 100 100,000 100,000
Kamal Uddin 1,000 100 100,000 100,000
Delwar Hossain Chowdhury 1,000 100 100,000 100,000
Mohmd.Shakhawat Hossain 1,000 100 100,000 100,000
 N.K.ROY & CO.Chartered Accountants

Md.Al-Murshid Khan 500 100 50,000 50,000

Total 30,000 3,000,000 3,000,000
 N.K.ROY & CO.Chartered Accountants

RTCL PROPRETIES & DEVELOPERS LTD.

Notes to the Financial Statement
For the ended 30th June 2022

4.00 PROPERTY, PLANT & EQUIPMENT:

Amount in TK. Amount in TK.

Particulars
30th June 2022 30th June 2021
Opening Balance 3,232,955 3,256,732
Addition during this year - -
Depriciation during this year (21,181) (23,777)
Closing Balance 3,211,774 3,232,955

5.00 ADVANCE & DEPOSIT:

Advance Office Rent 213,000 213,000
Telephone Security 7,700 7,700
220,700 220,700

6.00 ADVANCE TAX DEDUCTION AT SOURCE:

Opening Balance 280,015 571,849
Add: This year TDS - 121,562
- -
280,015 693,411
Less: Adjusted Assessment year 2022-22 - 413,396
280,015 280,015

7.00 CASH & CASH EQUIVALENT:

Amount in TK. Amount in TK.

Particulars
30th June 2022 30th June 2021
Cash in Hand 28,560 52,374
Cash at Bank:
Islami Bank Bangladesh Ltd. 1,512,813 356,536
NCC Bank Ltd. 4,961
Closing Inventory - -
Closing Balance 1,546,334 408,910

8.00 CONSTRACTION WORK IN PROGRESS:

As per last balance 14,571,042.00 13,732,897.00
Add. During the year 2,241,695.00 3,441,695.00
16,812,737.00 17,174,592.00
Less; Adjust during the year - 2,603,550.00
Closing Balance 16,812,737 14,571,042

9.00 SHARE CAPITAL

 N.K.ROY & CO.Chartered Accountants
Name of the Shareholders No of Face Total (TK) Total (TK)
Shares Value 30th June 2022 30th June 2022
Ebadul Haque Chowdhury 7,250 100 725,000 725,000
Md.Yeakub Ali Meajee 5,750 100 575,000 575,000
Md.Nasheir Ullah Mozumder 1,000 100 100,000 100,000
Abdur Razzak Bhuiyan 1,000 100 100,000 100,000
Md.Mizanur Rahman Bhuiyan 500 100 50,000 50,000
Shahadat Hossain (Saka) 2,000 100 200,000 200,000
Mohd Mozahedul Islam 2,000 100 200,000 200,000
Md.Alamgir Meajee 1,000 100 100,000 100,000
Md.Yeasin Meajee 1,000 100 100,000 100,000
Ms.Zohora Akter 1,000 100 100,000 100,000
Md.Rafique 1,000 100 100,000 100,000
Monira Begum 1,000 100 100,000 100,000
Md.Nurul Huda Chowdhury 1,000 100 100,000 100,000
Md.Mizanur Rahman 1,000 100 100,000 100,000
Kamal Uddin 1,000 100 100,000 100,000
Delwar Hossain Chowdhury 1,000 100 100,000 100,000
Mohmd.Shakhawat Hossain 1,000 100 100,000 100,000
Md.Al-Murshid Khan 500 100 50,000 50,000
Total 30,000 3,000,000 3,000,000

10.00 RETAINED EARNINGS:

Particulars Amount in TK. Amount in TK.

30th June 2022 30th June 2021
Opening Balance (5,603,751) (5,316,892)
Net Profit/Loss during this year (699,982) (286,859)
(6,303,733) (5,603,751)
Less: Tax at Source Adjusted Assessment year 2022-23 - -
Closing Balance (6,303,733) (5,603,751)

11.00 LONG TERM LOAN :

Amount in TK. Amount in TK.

Particulars
30th June 2022 30th June 2021

Islami Bank Bangladesh Ltd. 5,334,722 5,881,802

Closing Balance 5,334,722 5,881,802

12.00 LIABILITIES FOR EXPENSES:

Director Remuneration - -
Audit & Legal Fee 30,000 25,000
Closing Balance 30,000 25,000

13.00 ADVANCE RECEIVE AGAINST FLAT SALE

As per last balance 15,130,556.00 14,470,284.00
Add. During the year 4,600,000.00 3,723,272.00
19,730,556.00 18,193,556.00
 Less; Adjust during the year -
N.K.ROY & CO.Chartered 3,063,000.00
Accountants
Closing Balance 19,730,556 15,130,556

14.00 TURNOVER
Amount in TK. Amount in TK.
Particulars
30th June 2022 30th June 2021

FLAT SALE - 3,063,000

- 3,063,000

15.00 Cost of Good Sold

Amount in TK. Amount in TK.
Particulars
30th June 2022 30th June 2021
Opening Inventory
Opening Inventory - -
Purchase of Raw Materials
CONSTRACTION WORK ADJUST DURING THE YEAR - 2,603,550
- -
Add: Direct Material Cost
Depreciation - -
Less: Closing Inventory
Closing Inventory - -
Closing Balance - 2,603,550

16.00 OFFICE, ADMINISTRATIVE & SELLING EXPENSES

Amount in TK. Amount in TK.
Particulars
30th June 2022 30th June 2021
Office Staff Salary 90,000 84,200
Office Rent 60,000 60,000
Office Water bill 4,800 3,600
Office Electricity bill 12,000 10,500
Office drinking Water bill 1,200 2,400
Entertainment 1,200 1,500
Stationery Goods 1,800 2,100
Photocopy Charges 1,350 1,250
Audit & Legal Fee 30,000 25,000
Trade License
Mobile Bill & Telephone Bill 6,000 5,705
Conveyance 1,800 1,253
Depreciation 21,181 23,777
Closing Balance 231,331 221,285
 N.K.ROY & CO.Chartered Accountants

17.00 Financial Expenses:

Amount in TK. Amount in TK.
Particulars
30th June 2022 30th June 2021
Interest on IBBL Loan 458,740 525,024
Bank Charges 9,910 -
Closing Balance 468,650 525,024
 N.K.ROY & CO.Chartered Accountants

(547,080)
547080

This amount from NCC Bank.

Pls check.
 N.K.ROY & CO.Chartered Accountants

RTCL PROPRETIES & DEVELOPERS LTD.

STATEMENT OF CHANGES IN EQUITY
For the year ended 30th June, 2022

Share Capital Retained Total

Particulars
Taka Earnings Taka Taka

Balance as on July, 2021 3,000,000 (5,248,275) (2,248,275)

Net Profit/ (Loss) During the year - (699,982) (699,982)

Balance as on 30th June, 2022 3,000,000 (5,948,257) (2,948,257)

RTCL PROPRETIES & DEVELOPERS LTD.

STATEMENT OF CHANGES IN EQUITY
For the year ended 30th June, 2021

Share Capital Retained Total

Particulars
Taka Earnings Taka Taka

Balance as on July, 2020 3,000,000 (4,961,416) (1,961,416)

Net Profit/ (Loss) During the year - (286,859) (286,859)

Balance as on 30th June, 2021 3,000,000 (5,248,275) (2,248,275)

Managing Director

Place: Dhaka
Date: The 5th December 2022
 N.K.ROY & CO.Chartered Accountants

RTCL PROPRETIES & DEVELOPERS LTD.

STATEMENT OF CASH FLOWS
For the year ended 30th June, 2022

Particulars Amount
30th June 2022
A. Cash Flows from Operating activities:

Retained Earnings (699,982)

Adjustment for depriciation 21,181

Change in Working Capital

(Incease)/ Decrease Trade & others Receivable (2,241,695)
Increase/(Decrease) Advance & Deposit -
Increase/(Decrease) Advance Tax deduction at Source -
Increase/(Decrease) Liabilities for Expenses 5,000
Increase/(Decrease) Goods & Service -
Increase/(Decrease) Advance Receive Against Export Bill 4,600,000
Cash flow from Operating Activities 1,684,505

B. Cash Flows from Investing Activities:

Purchase of Propery, Plant & Equipment -

Net cash used in Investing Activities -

C. Cash Flows from financing activities:

Increase/(Decrease) Long Term Loan (547,080)
Share Capital -
Net cash used in financing Activities (547,080)

D. Net increase/ decrease in Cash & Cash Equivalents (A+B+C) 1,137,424

E. Cash & Cash Equivalents at the beginning of the year 408,910

F. Cash & Cash Equivalents at the end of the year (D+E) 1,546,334

Managing Director

Place: Dhaka
Date: The 5th December 2022
 N.K.ROY & CO.Chartered Accountants

1,546,334.25
 N. K. ROY & CO.Chartered Accountants

RTCL PROPRETIES & DEVELOPERS LTD.

Statement of Property, Plants & Equipments
For the year ended 30th June, 2022
Sl. Cost Rate Depreciation Written
No. Particulars As on Addition Total of As on During the Total Down Value
01-07-2021 during the as on Dep. 01-07-2021 year as on as on
year 30-06-2022 30-06-2022 30-06-2022
1 Land - - - - - - - -
Preliminary Expenses 66,775.00 - 66,775 - - - - 66,775
Pre-Operation Expenditure 2,964,850.00 - 2,964,850 - - - - 2,964,850
8 Submarchable Pump/Padrola Pump 3,319 - 3,319 15% 497.85 498 2,821
13 Furniture & Fixture (Office) 126,677.00 - 126,677 10% - 12,667.70 12,668 114,009
Office Decoration 58,158.00 58,158 10% - 5,815.80 5,816 52,342
Air Conditioner 8,704.00 8,704 15% 1,305.60 1,306 7,398
20 C.C. T.V/ Camera 4,472 - 4,472 20% 894.40 894 3,578
3,232,955 - 3,232,955 - 21,181 21,181 3,211,774

Managing Director
Place: Dhaka
Date: The 5th December 2022