Prepared by MH Schedule

Date 25-Feb-19
Reviewed by
Date

Client name Dewan Drilling Limited

Period end December 31, 2018
Account head Short term deposits and prepayments
Subject Lead sheet

Purpose
To compare current year balances with preceding year and justification of variances which are over 5%.
Procedure
Comparison of current year balance with preceding year.
Conlcusion
Variances are reasonable and appropriate explanation have been made.

Sr# Description Ref. Current period Ref. Prior period Variance Annot

Rs. Rs. Rs. %age

1 Deposits and Prepayments 1,252,043 1,035,587 216,456 21%

Nature:
{a}
Deposit and prepayment include security deposit with Supplier in respect of LPG cylinder. No movement since last year.
{b}
Deposit and prepayment include prepayment in respect of Insurance. Payment of Insurance during the is split into two figure.
i.e. one is expense for the year and other is prepayent, Because Insurance period cover period from April 01, 2017 to March
30, 2018.
{c} Deposit and prepayment include Bank gurantee deposit in respect of project bidding for OGDCL.
 Prepared by MH Schedule
Date 25-Feb-19
Reviewed by
Date

Client name Dewan Drilling Limited

Period end December 31, 2018
Account head Short term deposits and prepayments
Subject Lead sheet

Purpose
To compare current year balances with preceding year and justification of variances which are over 5%.
Procedure
Comparison of current year balance with preceding year.
Conlcusion
Variances are reasonable and appropriate explanation have been made.

Sr# Description Ref. Current period Ref. Prior period Variance Annot

Rs. Rs. Rs. %age

1 Security deposits 116,900 116,900 - 0%
2 Prepayments 535,143 818,687 (283,544) -35%
3 Bank gurantees 600,000 100,000 500,000 100%

1,252,043 1,035,587
 Prepared by MH Schedule
Date 25-Feb-19
Reviewed by
Date

Client name Dewan Drilling Limited

Period end December 31, 2018
Account head Short term deposits and prepayments
Subject Movement

Purpose
To test that deposits and prepayments have been completely recorded & appropriately valued in FS.
Procedure
Obtain party wise list of additions & deletions during the year.
Trace and compare additions and deletions from the general ledger.
Recalculate the closing balance and ensure that amortization of prepayments have been calculated accurately.

Conclusion
List was obtained.
Opening balances were matched with last year audited F.S .
Closing balances were agreed with G.L , No variance was found.

Sr# Description Ref. Opening Ref. Additions Ref. Deletions Ref. Closing Annot
Rs. Rs. Rs. Rs.
1 Security deposits
LPG cylinders security 116,900 - - 116,900

Total 116,900 - - 116,900

2 Prepaid Insurance
Prepayments - RIG ZJ 30 Insurance - 1,826,557 (1,826,557) -
Prepayments - Ambulance Insurance 6,398 25,947 (25,946) 6,399
Prepayments - Staff Camp Insurance 52,205 211,720 (211,720) 52,205
Prepayments - Cash in safe insurance 10,472 12,020 (12,020) 10,472
Prepayments - Cash in transit insurance 31,330 35,960 (35,960) 31,330
Prepayments - Terrorism Insurance ZJ30 260,940 711,629 (972,569) -
Prepaymnets - Staff Health Insurance 142,001 240,772 (263,376) 119,397
Prepayments - Annual Fee IADC - 18,122 (18,122) -
Prepayment - Honda Civic Insurance 16,835 79,800 (79,800) 16,835
Prepayments - Fire Insurance Zj40 298,506 1,210,606 (1,210,607) 298,505

818,687 4,373,133 (4,656,677) 535,143

3 Bank Gurantee
1 Bank Gurantee Fund to OGDCL/Tender Bonds 100,000 1,800,000 (1,300,000) 600,000

100,000 1,800,000 (1,300,000) 600,000

Grand Total 1,035,587 6,173,133 (5,956,677) 1,252,043

Annotations
{a} Security relates to cylinders used at site. Balance is outstanding for more than 3 years. No Change in balance subsequently. Must be w/off
 Prepared by MH Schedule
Date 25-Feb-19
Reviewed by
Date

Client name Dewan Drilling Limited

Period end 31-Dec-18
Account head Prepayments
Subject Calculation of Prepaid and expense

Sr. No. Date Voucher No. Description Opening Policy Period end Period As per auditor
Balance Break Total Premium
up Start End Date Expense Prepayment Expense Prepayment
Date Date Days Days Rs. Rs. Rs.
818,687
1 4/30/2017 JVA-17 -0132 Prepayments - RIG ZJ 30 Insurance 545,832 1-Apr-17 31-Mar-18 31-Dec-17 275 0 2,482,305 1,861,729 -
2 4/19/2017 JVA-17 -0115 Prepayments - Ambulance Insurance 6,396 1-Apr-17 31/3/2018 31-Dec-17 275 #VALUE! 25,947 19,460 6,398
3 5/31/2017 JVA-17 -0162 Prepayments - Staff Accidental Insurance 42,805 1-Jan-17 31-Dec-17 31-Dec-17 365 0 - 42,805 -
6 4/30/2017 JVA-17 -0132 Prepayments - Staff Camp Insurance 52,663 1-Apr-17 31-Mar-18 31-Dec-17 275 90 211,720 158,790 52,205
7 11/2/2017 JVA-17 -0356 Prepayments - Cash in safe insurance 10,472 15-Nov-17 14-Nov-18 31-Dec-17 47 318 12,020 1,548 10,472
8 11/2/2017 JVA-17 -0355 Prepayments - Cash in transit insurance 31,330 15-Nov-17 14-Nov-18 31-Dec-17 47 318 35,960 4,630 31,330
9 4/30/2017 JVA-17 -0132 Prepayments - Terrorism Insurance ZJ30 263,229 1-Apr-17 31-Mar-18 31-Dec-17 275 90 1,058,256 260,940 260,940
11 7/31/2017 JVA-17 -0230 Prepaymnets - Staff Health Insurance 33,785 1-Jul-17 30-Jun-18 31-Dec-17 184 181 286,355 178,139 142,001
15 - - Prepayment - Local Cargo Trasit isurance 9,499 1-Jan-17 30-Jun-17 31-Dec-17 184 - - 9,499 -
#REF! 3/14/2017 JVA-17 -0078 Prepayment - Honda Civic Insurance 16,835 19-Mar-17 18-Mar-18 31-Dec-17 288 77 79,800 62,965 16,835
#REF! 1/31/2017 JVA-17 -0031 Annual Fee IADC 52,668 1-Jan-17 31-Dec-17 31-Dec-17 365 - - 52,668 -
#REF! - - Prepayment - Integrated Security Syytem 52,684 1-Jan-17 31-Dec-17 31-Dec-17 365 - - 52,684 -
#REF! 4/30/2017 JVA-17 -0132 Prepayments - Fire Insurance ZJ40 301,124 1-Apr-17 31-Mar-18 31-Dec-17 275 90 1,210,606 912,100 298,506

1,419,322 Total - as per calculationns 5,402,969 4,436,645 818,687

As per client 5,402,969 5,391,529 1,430,762
Difference as per workings; - 954,884 612,075
 Prepared by MH Schedule
Date 28-Feb-19
Reviewed by
Date

Client name Dewan Drilling Limited

Period end 31-Dec-18 of
Calculation
Account head Insurance
Prepaid and
Subject expense

Sr. No. Insurers Insurance type Policy Period end Period Amount
Total
Start End Date Expense Prepayment Total Premium Expense Prepayment
Date Date Days Days Days Rs. Rs. Rs.

Prepayments - RIG ZJ
1 1-Apr-18 30-Nov-18 31-Dec-18 242 0 242 1,826,557 1,826,557 -
30 Insurance

Prepayments -
2 1-Apr-18 31-Mar-19 31-Dec-18 274 90 364 25,947 19,532 6,415
Ambulance Insurance
Prepayments - Staff
3 1-Apr-18 31-Mar-19 31-Dec-18 275 90 365 211,720 159,515 52,205
Camp Insurance
Prepayments - Cash in
4 15-Nov-18 14-Nov-19 31-Dec-18 47 318 365 12,020 1,548 10,472
safe insurance
Prepayments - Cash in
5 15-Nov-18 14-Nov-19 31-Dec-18 47 318 365 35,960 4,630 31,330
transit insurance
Prepayments -
6 Terrorism Insurance 1-Apr-18 30-Nov-18 31-Dec-18 243 0 243 711,629 711,629 -
ZJ30
Prepaymnets - Staff
7 1-Jul-18 30-Jun-19 31-Dec-18 184 181 365 240,772 121,375 119,397
Health Insurance
Prepayment - Honda
8 19-Mar-18 18-Mar-19 31-Dec-18 288 77 365 79,800 62,965 16,835
Civic Insurance
Prepayments - Fire
9 1-Apr-18 31-Mar-19 31-Dec-18 275 90 365 1,210,606 912,100 298,506
Insurance ZJ40

Total 4,355,011 3,819,852 535,159

Opening perpaid insurance 818,687 -
Expense and prepayment as per calculation 4,638,539 535,159
Expense and prepayment as per ledger 4,638,555 535,143

Difference (Rs.) (16) (16)

 Prepared by Taiba Schedule
Date 25-Feb-19
Reviewed by
Date

Client name Dewan Drilling Limited

Period end 31-Dec-18
Account head Bank Guarantee
Subject Vouching

Sr. No. Date Voucher No. Transaction Party Name Description Tendor No
Amount Authorization Supporting

Additions Rs.
1 14-Mar-18 JVA-18 -0115 7754 TEnder Bond PPL tender130461/18 PO 100,000 P P

Being an amount paid on account of PPL -

2 Performance Guarantee PO#20703903 in respect of GMP/SC/LTA/130461/18 P P
Pakistan
Petrolium rental campt setup & catering services for rigless
20-Jun-18 JVA-18 -0246 7885 Limited well operations on call out basis for three years. 500,000
Amount paid on account of bank gurantee for hiring
3 of porta cabins for dhok hussain by OGDCL against Tender #PE&FD-4027/2018 P P
17-Sep-18 JVA-18 -0370 8008 OGDCL bid. 1,200,000
1,800,000
-
1,800,000

Deletion
1 26-Apr-18 JVA-18 -0163 7802 DDL PPL tender guarantee return (100,000) P P
2 Tender #PE&FD-4027/2018 P P
6-Nov-18 JVA-18 -0499 8137 DDL OGDCL Tender Bond refunded (1,200,000)
(1,300,000)
-
(1,300,000)