Faith Honey A.

Ocampo
Certified Public Accountant

RAFANAN, ALFREO JR. ALFONSO

Proprietress
RRALFH SWEETS FOOD WHOLESALING
Blk 9 Lt 9 Matulungin St., Saint James Subd. Batal Santiago City Isabela

REPORT OF AN INDEPENDENT AUDITOR

I have audited the accompanying financial statement RRALFH SWEETS FOOD

WHOLESALING which comprise the balance sheet as of September 1, 2023 and the
income. Statement of changes in equity for the years of ended, and notes to financial statement
comprise of a summary of significant accounting policies other explanatory notes

Management Responsibility
The manafement is responsible for the preperation of fair presentation of these financial
statement in accordance with Philippine Financial Reporting Standards, This responsibility inclu
des: designing implementing and maintaining internal control relevant to the preparation of finan-
ial statements that are free fro material misstatement, whether due to fraud or errors, selecting and
applying appropriate accounting policies and makung account estimates that are reasonable in the
circumstances.

Auditor's Responsibility

My responsibility is to express opinion on these financial sttements based on my audits. I

conducted my audit in accordance with standards generally accepted in the Philippines. Those
standards require that I plan and perporm the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement.

An audit includes performing procedures to obtain audut evidence about the disclosures in the
financial statements of RRALFH SWEETS FOOD WHOLESALING as of September 2023.
The procedure selected depends on auditor'g judgement including the asseessment of the risks
of material misstatement of the finncial statement in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effecti-
veness of accounting policies used and the reasonable of accounting estimate made by the mana-
gement as well as evaluating the overall presentation of the financial statement. I believe that my
audit evidence I have obtained is sufficient and appropiate to a basis for my audit opinion.

Faith Honey A. Ocampo

PRC License No. 66255
BOA accreditation No. 2577
Valid Until December 31, 2023
BIR accreditation No.02-005786-2-2017
PTR No. 7142536
Issued on September 6, 2023
Valud until December 31, 2023
 STATEMENT OF OWNER'S RESPONSIBILITY
FOR ANNUAL INCOME TAX RETURN

The management of RRALFH SWEETS FOOD WHOLESALING which, and is a responsible

for all information contained in the financial statements for the year ended. December 31, 2023.
The financial statements have been prepared in conformity with the Philippine Financial
Standarad reflect amounts that are based on best estimates and informed judgement of
management with an appropriate consideration to materiality.

Likewise Management maintains a system of accounting and reporting which provides

for the necessary internal controls to ensure that transactiona are property authorized and recorded,
assets are safeguarded against unauthorized use or disposition, and liabilities are recognized.

In his regard, the Management affirms, that attached audited financial statements for tear
ended December 31, 2023. in accordance with the books and LOVELUXEFINDS ONLINE
WHOLESALING and correct in all material aspect, Furthermore, management affirms that:

a. The Annual Income Tax Return has been prepared in accordance with the provision
of the National Internal Revenue Code, as amended pertinenr tax regulatiojs, and
other issuance of the Bureau of Internal Revenue;

b. Any disparity of figures in the submitted reports arising from the preparation of fina-
ncial statementa pursuant to financial accounting standards and the presentation of
the income tax returns pursunt to tax accounting rules, has been reported as reconci-
ling items and maintauned in the company and books and records in accordance with
the requirements of Revenue Regulations No. 8-2007 and other.

c. RRALFH SWEETS FOOD WHOLESALING which has a filled all applicable tax returns,
reports and statements required to be filled under Philippine tax laws for the reporting
period, taxes and other imposition shown thereon to be due and payable have been paid
for the reporting period,except thosr contested in good faith.

ALFREDO JR. ALFONSO RAFANAN

Proprietress
 RRALFH SWEETS FOOD WHOLESALING
Blk 9 Lt 9 Matulungin St., Saint James Subd. Batal Santiago City Isabela

STATEMENT OF FINANCIAL POSITION

As of December 2023

ASSETS
Current Assets
Cash and Cash Equivalent Php 59,560.00
Account Receivable 78,500.00
Merchandise Inventory 67,204.00 Php 205,264.00
__________________________________________________________________________________

Fixed Assets
Communication, Light and Water Php 101,106.00
Equipment 342,560.00
Service Vehicle 145,962.00
Store Furniture & Fixtures 57,400.00
__________________________________________________________________________________
Total 647,028.00 Php 543.373.00
Less: Accum. Depreciation 103,655.00
__________________________________________________________________________________
TOTAL ASSETS Php 748,637.00
__________________________________________________________________________________
__________________________________________________________________________________

LIABILITIES & CAPITAL

Liabilities
Account Payable Php 482,159.00
__________________________________________________________________________________
Capital
Beginning Capital Php 875,367.00
Add: Net Profit 414,539.00
__________________________________________________________________________________

Total 2,131,197.00
__________________________________________________________________________________
TOTAL LIABILITIES & CAPITAL Php 2,706,010.00
__________________________________________________________________________________
__________________________________________________________________________________
 RRALFH SWEETS FOOD WHOLESALING
Blk 9 Lt 9 Matulungin St., Saint James Subd. Batal Santiago City Isabela

STATEMENT OF FINANCIAL POSITION

As of December 2023

Sales Php 6,728,672.00

Less: Cost of Sales

Inventory Beg. Php 314,760.00
Purchases 552,369.00
Total Goods Available for Sale 467,125.00
Inventory End 835,204.00 2,168,458.00
__________________________________________________________________________________

Gross Income 4,110,214.00

Operating Expenses
Salaries & Wages Php 1,125,846.00
Gas, Fuel & Oil 234,756.00
SSS, ECC & Philhealth 63,204.00
Taxes & Licenses 686,952.00
Communication, Light & Water 95,268.00
Office Supplies 15,742.00
Repair & Maintenance 16,000.00
Transportaion Expense 147,580.00
Insurance Premium 57,415.00
Professional Fees 24,500.00
Depreciation 186,500.00
Miscellaneous Expenses
__________________________________________________________________________________
50,247.00
Total Operating Expenses
__________________________________________________________________________________
Php 2,706,010.00

Net Income Php 4,464,020.00

__________________________________________________________________________________
__________________________________________________________________________________