Вы находитесь на странице: 1из 34

a

R.K,

J'.1,

!?

To\\

ER

86. Bir Unam C-R. Datra Road


(312, Soanargaon Road), Level-10

SHIRAZ KHAN BASAK & CO.


\rltl

RIIr

\((

()t \'1 \\ts

Hatirpool, Dhaka-1205
:88-02-9635139
:88-02-8621575

Tel
Fax

Mobile: 01711-520770. 0l 198-015,{27


01552 638228

E-mail : shirazklanbasak@yahoo.com

ALTDITORS'REPORT
TO THE SHARXHOLDERS OF DRdGON SWEATER & SPINNING LIMITED
u

e ha\e audited the accompanying financial sratements of Dragoo Sheater & Spitrning Limited,
comprise the statement offinancial position as at 3l't Decembei 2014, and the statement of

nhi.h

:r".i-it or loss and other comprehensive income, statemcnt of changes in equity and statement of
.,rrh llo\\ s fbr the year then ended and all related [otes of financial statements together with a
i":rmal-a ofsignificant accounting policies and other explanatorv notes.

lhragement's Responsibilitv for the FilaDcial Statemetrts


'\bn-esement. rcpresented by the Board oi Directors, is responsible for the prcparation and fair
:t-nl3lion of these financial statements in accordance with Bangladesh Accounting Standards
3\S,. Bangladesh Financial Repodng Standards (BFRS), the Companies Act, 1994, Secu ries
lii E\.hange Rules, 1987 and Applicable Laws and Regulations. This responsibility includes:
.i)rr.i.n. implementing and maintaining intemal control relevant to the preparation and fa;r
-s:<.=lion of financial statements that are lree from material misstatement, whether due to fiaud
:r =.'r. s.lecling and applying appropriate accounting policies; and making accounting estimates
:iE !.a: Eaionable in the circumstances.

rrdiror5' Rsponsibilit]

l}J r+onsibilit_v is to express an opinion on ihese financial statements based on our audit. We
:.rc].t d our audit in accordance with Bangladesh Standards on Auditing (BSA). Those standards
that !\e comply with ethical requirements and plan and peform the audit to obtain
=e\_.able assumnce whether the financial statements are free from material misstalement.

=-;.ji.

t 3u.lil involves performing procedures to oblain audit evidence about the amounts and
ii:i\ures in the financial statements of the company. The procedures selected depend on thc
.r!ii,.rs

judgment, including the assessment of the risks of material misstatement of the financial
*r:r_nlenls of the Company, whether due to fraud or error. ln making those isk assessments, we
:.aside6 intemal control relevant to the enti8,s preparation and fair prcsentation of the financial
$t menN of the Company in order to design audit procedures that are appropriate in the
:iaumiances. but not for the purpose of expressing an opinion on the elfectiveness ofthe entir)-,s
:Emal control. An audit also inoludes evaluating the appropriateness of accounting policies uscd
5J th. reasonableness of accounting estimatres made by management, as well as evaluating the
:\erill presentation ofthe financial statements ofthe company.
\tr 3

LElie\e thar ihe audit evidence we have obtained is suliicient and appropriate to provide a basis
tor our aud;t opinion.

Shiraz Khan Basak & Co,


Chartered Account{nts

OPINION
ln our opinion, the financial statements referred lo above give
a true and fair view ofthe financial
position of Dragon sweater & spinoing Limited
u, orir o."".u". zol+ aiid or it, rnan"iut
f:trolnance.:n1 cast Jlows for the year ended from 1 January 2014 to 3l December 2014 in
tsangladesh Financial Reporting Srandards, Bangladesh
Accounting Standards and
:1T,rC.:,1
compry \\rth the Companies Act. 1994- Securities and Exchange
-other
Rules l9g7 and
applicable
laws and regulations.

We also report thal:

,",

and,checki0g of records, relevant books of accounrs,


:H^jfl,-1":"J
scheoules and trnancial statements were sufficient to

assessed opinion on the authenticity and accuracy

(b)

(c)

registem,

enable us to form an infoffned ani

ofthe financia Jtement":

we have obtained all the information and explanations,


which to the best ofourknowledge
and beliefwere necessary for the purposes oi our audii
ana made due vAfication thereoq

the company's managemert has folrowed relevant provisions of


raws ard rules in
managing the affairs of the company. proper books of accounts,
recoros ana other
statutory books have been properly maintainea;

(d)

the statement of_financial position and the statements of cofiprehensive


income are in
agreement with the said books of account maintained by the
company and examined
by

us; and

(e)

the.expenditure incurred and palments made were for the p$pose


of the company,s
business for the period.

Dated : 15 Aprit 2014


Place : Dhaka

1ir Basak & Co.


Chanered Accountanrs

Shiraz (han Basak & Co.

Chartered Accountants

DRAGON SWEATER & SPIN\ING LIMITED


Statement of Fitratrcial position
As at 31 December 2014
31 Dec. 2013

Taka

\oD-Current Assets
?:.Fen\. Plant & Equipment

604,77a,145
,4.061.029

9,109,549

t0-717.1t7

41,82',7,868

.:--xSible -{ssets
- ::r=l \\'orks-in-Progrcss

Current Assets
::on-Term ln\ estment in FDR

1,012,229,333

1,043,921,789
2t 5 ,7 38,69'7
6,13,662,483
21.431,607
158,854,936

-:.:rtories

3: . Receirable

:-:. rnie. Deposit & Pre-pa).ment


- -.: :nd Cash Equivalents

roT.\L

612,600,624

20,1.386,632

573 ,7',79 ,381

10

38,794,057
190,641-226

ll

--l6rr3,E97 -lfl46-q93

ASSI TS

IT\' .{\D LIABILITIES


!brrrbolders'Equit)
: ---: C.:pirai
t.QT

J.:=:t.i Eamings
i:i-.1i iLlr Re\ aluation

I,127 ,494,829

1,044,r25,563

12
13

318,6,10,820

,000,
201,153.222

14

208.8s4,009

239 .9',72.341

413,777,351

,157,625,658

LI {BILITIES

\ r,o{urrent Liabilities
:i I3rrn Loan \et ofCunent portion
( urrtnt Liabilities

: P:lable
:::-:::e: lor

l5

and Provision

83,557,771
16

Expenses

,10'7,
6,15 I .,13

1'1

; ie-n Loan Current portion

15
18

,:.:tn tirr Income Tar


Totrl Liat iliries

-:

TOI.\I

13,

EQT'ITY AND LIABILITIES

\.: \..st. \'olue C\AV) pcr sharc


r-: . -:;il'le \ssels Valuc (NAV) per (hare

37.617,189
33,481,584
.,197,335,128

146,918,712
6.150.672
9,'7 8t ,249 .23
1t0,',726,617
19,690,173
601,571,370

1,624,829,957

1,648,699,934

14.79
18-63

17.40

26(a)
26(b)

11.zlt

Tte annexed nores form are an inregral pan ofthe Statement of IlinaDcial position.

I:: :l=rcial slatements approved and authorized


- : -rJ signed on behalfofthe Board:
C'rmpatr) Secretary

llis

for issue by the Board of Directors on 15th April,

Managing Director

Chairman

is rhe Statement ofFinancial Position referred to in our separate report ofcven date_

\Fril 15.2015
Dhalia

,'-d,,---\")

AV,,

iralK iitsisak

& Co.

Chanered Accouniants

Shiraz (han Basak & Co.

Cha.tered Accountants

DRAGON SWEATER & SPINNING LII4ITED


Statemnt ofProfit or l-os atrd Other Comprehensive Itrcome
For the Year endd 31 December 2014

Particulal3

Note

19
20

Sales

Cost ofGoods Sold

Gross Profit
Ope.ating Expenses

Operatitrg Income
Financial Expenses
:{et Operating Income
Non-Operating Income
\et Profit Before Cortribution to WppX.
\\ o.ker's Profir Participation Fund (WppF)
\et Profit Before Tax
T&\ Paid under Section 82 C
Provision for Taxation
Pmlit After Tax
Odrer Comprehensive Income

Blsk Eemitrgs Per

31

Share

-{dju3ted Earllings per Share

Dec.20l4
Taka

31 Dec.2013

Trka

766,8t7,162
(558,661,531)

758,93r,300
(555,591,719)

20E,155,631

21

203139581

(60,490,312)

(60,s3'7,4',77)

22

147,665319
(59,899,991)

112,802,104

87,76532a

23

12,599,125
100,364,453

(59,r59,044)
E3,643,06r
9,254,934
92,897,99s

17.02

r00364,4s3
(4,866,099)
(6,415,691)

88,9r4,992

89,082,663

a\991,797

6,44',7,320

4,784,998

95,529,9A2

_E6!l!l2s

25.00

1.48

2.72

25.01

1.48

1.31

18.0r
18.01
24.00

(6.923.195)

The annexed notes form are an integral part ofthe Statement ofFinancial position.

T}rc fina[cia] statements approved and authorized for issue b1 rhe Board
April- 2015 and signed on behalfofthe Board:

Company Secretary

Managing Director

o[ Direcrors on l5th

ch

Stalement oIComprehensive Income referred lo in our \eparate repon oIeven

April

15, 2015

Dhaka

(:hattered Ac@untants

Shiraz Khan Basak Co.


Chaateaed Accountanis

DRAGON SWI ATER & SPINNING LIMITED


Statem( ,trt ofChang6 in Equity
For tho yea r ended 3l December 2014
mount in Ta*a)

Ordinary

ParticulaIs

Brloce

as

Share

of January 01, 2014

Crnit l

600,000,000

RevaluatioD
Surplus
239,912,343

Retained
Earnings

Total

204,153.222

1,044,125.565

t-css: Prior three years adiustment for ta-x Drovision

(7,37s,719)

L.ss: Prior vear's unrealized gain for marked


to markei

(4,784,ee8)

S.FTorrl
Riahqdon SurDlus realized (Annex-l
hofit for the year

ELtcc

600,000,000
)

rs at December3l,2014

239,972)43
(3 r,118,333)

600,000,000

208,E54,0r

191,992,505
3

(7,31s,719)

r,036,749,846

t,l I8,333

95,529,982

95,529.9a2

318,640,820

I,132219,829

For the y.ar ended 31 December 2013


(Amou t itt Taka)
Particulars
Br.lace as on January 01,2013

lardutiro

Share

Capital
287,t60,000

Surplus realized (Annex-1)

kn6t fq'dre r ear


5 Ioarl
Lcs 9oc\ Dividend paid (fanuarvllJOt:)
ldd: Shae -{llotment

JGI8 rt Ixcember

31,2013

Company Secrefary

Revaluation
Surplus
275,944,562
(3s ,972.219)

287,r 60,000

239,972)43

Total

194,244,208

757,318,770

35,9',72,219

86,776.795

86,776.795

316,993222

844,12s,565

(1 12-840.0001

I 12.840.000

200.000.000
600.000.000

Retained
Eamitrss

200-000-000

239.972343

204.153222

I-044.12S-565

\r

Managing Director

:\hn
:

-{pril 15.2015

: Dirala

"o,y&M...
Chadered Accountants

,A

({f(*,"):l)

Shiraz Khan Basak Co.


Chartered Accountants

DRAGON SWEATER & SPINNING LIMITED


Statement ofCash trlows
For the year ended 3l December 2014

3l

Particulars

Dec. 2013

Taka

(al

Flon From Operating Actir ities:


i:!s,1 Rereipt liom Customers
f.s Receipt liom Non-Operating Income

C.se Paid ro Supp)iers and Others


C-l Geoer.ted from Operations
C.i!r: Paid for Financial Expenses
ia1.De Ta\ Paid
tt Crsh FloB from Operating Activities

27

838,359,162

23

t2,599-t25

28

563,138.761

647 ,17',7 ,',70

247,8t9,526

40,942,882
(s9,1s9,044)

22

(59,899,991)
(4,866,099)
223,053,436

678,865,655
q )54 A]l1

(t8,216,162)

C5l

FloE From Inyesting Activities:


FDI br orrnent
kr.q6enr in Capital Work-in-progress
ib'.:goent lbr Non-curent Assets
li.r C8h fsed in Investing Activities

(390,967)
(41,827,868)
32.087.580

1
6

(Annex-1)

(74,306,410

(404,41s)
,40q,,100

(22,813,814)

(rsl

Flos From Finrncing Aclir ities:


u:,:e: T.nn Loar Net of Ctrrent pofion
L.er TErrn Loa.n Curent portion
SsEs -{loilnent
(Starement of Changes in Equity)
\cr Cesb Lsed in Financing Activities

\a

(116,9s7 ,729')

68,151,214
(84,010,605)
200,000,000
184,t40,609

31,789,290

143,110,633

I0

158,854.936

15,744,303

10

190,644,226

bcrcrse in Cash and Cash Equivalents

Crsl

e-rd Cash Equivalents at

begintring

C.rl erd Cash Equiyalents

\.r

(43,848,301)
(73,109,428)

at Closing
per
Opcnring Cash Flow
Share

]-E:dDe\ed

nores form are an integral part

CoEpary Secretary
:

\pril

15.2015
s: Dhaka

3rr_-(0=o

29

ofthe Statement of

Managing Director

Cash

flow.

Shiraz Khan Basak & Co.

Chatlered Accountants

DRAGON SWEATER & SPINNING LIMITED


Notes to the Fitraocial Statements
For the year e ded 01 January to 3l Decen0ber 2014

The Brckground atrd activities ofthe Company:

l.0r

Legal Status of the Company:


Dragon Sweater & Spinning Limited was incorporated on June 16, l99g as a'private,
Company limited by Shares Registered under the Companies Act 1994 as adopted in
Bangladesh vide certificate of incorporation No. C-37951 (225t)/99. Dragon Sreater &
Spinning Limited was conveded inro a Public Ljmited Compan) as on 13s January 2012.
The Company's registercd office is situated at 2512, DIT Road, Malibagh Chowdhury
Para Dhaka and its factory is located at Chandul, Miah Bazar, Chowddagaram, Comilla.

Principal Activities of the Company:


The company has been incorpomted with the primary objective of getting involved to
Promote. established and conduct textile, yam and acrylic spinniflg mills in Bangladesh
and to undertake all other business in connection therewith. I)ragon Sweater & Spinning
Limited runs the business of producing Spinning and manufacturing and exporting of
read\made sweater, pull over and wearing apparels of all kinds out of wool, cotton,
sufietic. fibers, acrylics and others to establish a modem Sweatea Factory or
manufacturing Sweater shirt and pullover of acrylic cofton, wool, silk,jute, flex, synthetic,
andor an) fabric yam for men, women, boys, and girls and marketing the same in the
t'oreign market.

t13

Summar-v of Signilicant Accountinq and Valuatiotr policies:

Tte p.incipal accounting policies have been consistently applied to all the years presented,
unless other wise stated. The specific Accounting policies selecled and applied by the
company's management for significant transactions and events that have a material effect
\\i$in the fiamework of Bangladesh Accounting Standard (BAS)-1 ..presentatjon of
Financial Statements" in preparation and presentation of.financial statements. Compared
lo the previous period, there were no significant changes in the accounting afld valuation
principles affecting the fiIlancial position and perfomance of the compafly. Accounting
and \aluation methods are disclosed for reasons ofclari6/.
Besis of Finatrcial Statements Preparatioit NDd presentationi

zil

-{ccoutrting Standard:

The financial statements of the company have been prepared

in

accordance with

Bangladesh Financial Reporting Standards (BFRS) which include Bangladesh Accounting


Standards (BAS).

Shiraz Khan Basak

&

Co.

Chartered Accountdnts

2.02

AccounlingConvention:
The financial statements are prcpared under the historical cost convention. The company
classified ihe expenses using the lunction ofexpenses method as per BAS-1.

2.03

Legal Compliatrce:
The financial statements have been prepared and the disclosures of infomation have been
made in accordance with the requirements of the Companies Act 1994, Thc Securities and
Exchange Rules,l987, BASS and BFRSS. On the basis of these regulations Bangladesh
Accounting Standards (BAS) & Bangladesh Fjnancial Reporting Standards (BFRS) were
applied at the date offinancial statements.

f_0{

-{ccountitrg Estimates, Assumptiols and Judgments:


The preparation ofthe financial statements in conformirl," with BFRS requires the use of
.enain accounting estimates. It also requires management to exercise its judgment in the
prr_'cess of applying the companyls accounting policies. Thereforc the management has
lultilled these rcquirements for ration and prcsentation of financial statements of the
a{impan}.

aa5

Reportilg Framework alrd Compliance Thereof:


The Financial Statement have been prepared in compliance with the requirements of the
Companies Act 199,1, the Secu ties & Exchange Rutes 1987 and other rclevant local laws
as applicable, and in accordance with the Bangladesh Financial Rcporting Standards
I BFRSs) and Bangladesh Accounting Standards (BAS).

:_r

Presentation of Financial Statements:

Tle

presentation of these financial statcments is in accordance $ith the guidelines


prorided by BAs 1: Presentation of Financial Statements. The Financial Statement
aomprises:

A Statement ofFinancial Position

ii)

Statement

ended

3l

as at 31

Decemler 2014;

of Profit or Loss and Other Comprehensive Income for the year

December 2014;

iiij

A Statement ofchanges in Equity fbr the year ended 31 December 2014;

i')

A Statement ofcash Flolvs for the year ended 3I December 2014;


Notes, comprising a summary ofsignificant accounting policies and explanatory
in

formation.

Shiraz I(han Basak & Co.

Chqrtered Accountants
Application of Standards:
The following BASs are applicable for the Ilnancial statements of the company for thc
period under audit:

Status

of

Name of the Accoutrting Standards

Ref. No.

Presentation of Financial Statements

BAS-I
BAS-2
BAS-7

Applicatiotr
Applicable
Appl cable
Aoolicable

BAS-8

Applicable

BAS-10
BAS-t 2
BAS-16
BAS-t 8

BAS-24
BA5-33

Applicable
Applicable
Applicable
Applicable
Applicable
Appl cable
Applicable
Applicable
Applicable

BAS-37

ApplicabJe

BAS-38

Applicable

Inventories
Statement ofCash Flows
Accounting Policies, Changes in Accounting
Estimates and Erors
Events After the Reporting Period

lncome Iaxes
Prcperty, Plant and Equipment

Benefirs_

Employee
The Etlects ofchanges in Foreign Exchange Rates

BAS-I9
BAS-21
BAS-2:}

Borro*ing Costs
Related ParO, Disclosure

Eamings Per Share (EPS)


l, rovlslons, Contingent Liabilities and Contingent

Intangiblc Assets

Reporting Period:
The financial statement cove$ one calendar year from

0l

January to 31 December 2014.

Date of Authorization:
The

oard of Directors has authorized these financial statements on I 5d

Futrctionaland Prese0talion

Curretrcy:

April

20 I 5.

The Financial Statements are prepared and presented in Bangladesh Curency (Taka),
rhough the major sales and purchase activities were carried out in US Dollai. Ioreign

currencies are translated at the applicable mtes of exchanges ruling at that date. AII
Financial information presented has been rounded off to the nearest Taka except where
indicated otherwise

Shiraz Khan Basak

&

Co.

Chartered Accountants

2.11

ComparativelnformatioD:
Comparative information has been disclosed in respect ofthe year 2014 for all numerical
information in the fina[cial srafements and also narrative and descriptive information
*here it is relevant for unde$tanding ofthc cu(ent year,s financial statements.
Figures for the year 201,1 have been re-arranged wherever considered necessary to endure
better comparability widr the curent year.

:.12

Going Cotrcern:

It

rvas reviewed by the management; thcre were no significant going concem threats
available in the operation ofthe company.

3.00

SignificatrtAccorntingPolicies:
The accounting policies in respect ofmaterial items of financial statements have been set
oul belo\!:

-r-01

ReYetrueRecognitio[:

In compliaoce with the requiremelts of BAS 18: Revenue. revenue receipts lrom
.uilomers against sales is recognized when products are dispatched to customers, that is,
shen the significant risks and rewards of ownership have been transfarred to the buyer,
rscor ery ofthe consideration is probable, the associaled costs and possible retum ofgoods
.a.n be estimated rcliably, and there is no continuing management involvement with the

goods.

Re\enue liom sales is exclusive

-rr:

ofVAT.

Property, Plarts and Equipments:

-rr:-01 Recognition and Measurement:


This bas been stated at cost or revalued amount less accumulated depreciation in
.ompliance with the requirements ofBAS 16: prcperty, pdnt and Equipment. The cost of
acquisition of an asset comprises its purcbase price and any directly attributable cost of
bringing the assets to its.$,orking condition for its intended use inclusivc ofinward freight,
duties and non-refundable taxes.

-U2.02 Pre.Operating Expenses atrd Borrowing Coslsi


Interest and other expenses incurred by the company in respect of borrowing of fund are
recognized as expenses in the year in which the] inclrrred unless the aclivities are
necessary to prepare the qualifl,ing assets for its intended use arc in progress. Expenses
.apitalized also ioclude applicable bonowing cost considering rhe requirement ofBAS 23:

Borrowing Costs.

l0

Shiraz Khan Basak & Co.

Chartered Accountants

3.02.03 Subsequent Costs and Maintelance Activities:

The company recognizes in the carrying amount of an item of proper6,-, plant and
equipment the cost of repiacing part of such an item when the coit is incuned. it is
probable that the furure economic benefits embodied rvith rhe item will flow to the
compaay and the cost ofthe item can be measurcd reliably. Expenditure incurred alter the
as-sets have been put into operation, such as rcpah and maintenance is normally charged
offas revenue expenditure in the year in which it is incuned. In situation wherc it can be
alearh demonstrated that the expenditure has resulted in ao increase in the future
ei:onomic knefi! expected to be obtained from the use of fixed assets, the expenditue is
.apitalized as an additional cost ofthe assets_ All other costs are charged to thi profit and
Ioss account as expenses if incuned. AII up-gradatior/e.hancement ; generally charged
.-iT as rc\enue expenditure unless they bdng similar significant additionaibenefits.

-rjlaa

Sofrs are:

lotisare is generally charged offas revenue expenditure. Customized software that is


inr.gral !o the functionality of the related equipment is capitalized as part of that
equipment. \lhich is locally de\reloped customized softwarc with the technical assistant of
tl ererh India Limited.

]-CJE

Dirpo,sal ofFixed Asseis:

OT Disposal of Fixed Assets, the cost and accumulated dep.eciation are eliminated and
!i!n or loss on such disposal is reflected in the Slatement of Comprehensive Income,
[hich is determined with reference to the net book value of the a;sets and net sales

!rs:.eds.

.l-E-

DGpreciation of Fixed Assets:


Depreciation is calculated using'Reducing Balance Method'over thc estimated uselirl life
aiea,.h item ofproperty, plant and equipments. Depreciation has been charged on addition
plant and equipmeots durjng the period when the assets are ready for use.
!f
R3E( s) ofdepreciation ofassets considering their useflrl lives are as follows:

p-p.4.

Categoav

Rate

Land & Land Developmetu

0%

Building

10%

Plant & Machinery

15%

Generafor

15%

Boiler

l5%

Washing Machine

r5%

Weight Machine

15vr

Cleaning Machine

15v.

Tmnsformer

10v"

Furniture & Fixture & Deco.ation

l0%

Shiraz Khan Basak & Co.


Chartered Accountants
Office Eqripments

10%

Cookeries

20%

Air Compressor
Waaer & Gas Installation
Computer & Acaessories
Telephone & PABX

t0%
100/o

200/d
t00/o

Elecrric Installation

1,yo

Fire Fighting's

10%

C.C. Camera

20%

Motor Vehicles

150/.

1.0f,.0? lntangible assets and amortizatiotr

Intangible assets comprise the value of computer software. Intangible assets acquired
sepamtely arc measured on iniaial recognition at cost and are carried at cost less
amo(;zation and impaiment losses ifany. Amortization is calculated using the Reducing
Balance Method at l5olo to write-offthe cost ofintangible assets.

3ll

valuatiodoflnvetrtory:
Inrentories are canied at the lower ofcost and net realizable value as prescribed by tAS 2:
lnrenrories- Cost is detemined on weighted average cost basis. Thi cost of inventories
.omprises of expenditue incurred in the normal course of business in bringing the
in\entories to their present location and condition. Net realizable value is based on
eSfimated selling price less any further costs expected to be incurred to make the sale.

]L

Fitratrciallnstruments:
A Financial instrument is any contract that gives dse to a financial asset ofone entiry and
a financial liability or equity ofanother entity.

3llrl

FiraDcisl Assetsi
Firancial assets of the company :nclude cash and cash equivalents, accounts receivable
and orher receivables
The company initially recognizes receivable on tbe date they are originated. All other
t-inancial assets are recognized initially on the date at which the companj, b."n-es a pany
tc the contractual provisions of the transaction. The company derecognizes a financial
as-ier \hen, and only when, the contractual rights of probabilities of receiving the cash
iloss from the asset expire ofit transfer the rights to receive the contractual casi flows on
the financial asset in a transaction in which substantially all the risk and rewards of
!1\\nership ofthe financial assets are transferred.
la) -{ccounts Receivable:
Bills receivables are recognized at cost or net realizable value from the ordinary course of
sales in the market whichever is 1o\\er. Bills receivables from foreign currcncy
E_ansactions are rccognized into Bangladeshi Taka using exchange rates prevailing on the
il(rsing date of rhe accounts in accordance with BAS-21: Ihe Effecti of Changes in
Frrreign Exchange Rates.
12

Shiraz Khan Basak

& Co.

Chartered AccountanT-s
.1..1.01

(b) Advances, Deposits and prepaymetrts:


Ad\ances are initially measured at cost. After initial recognition, advances are caried at
cost Iess deductions, adjustments or charges to other account heads. Deposits are measured
a1 pa\menl value.
Prepalments are initially measued at cost. After initial recognition, prepayments are
carried at cost less charges to profit and loss account_

-r.{.01 (c) Cash and Cash Equivalents:


Cash and Cash Equivalents are carrierl in the Statement ofFinancial position at cost and
include cash in hand and with banks on current and deposit accounts. which are held and
a\ailable for use by the company without any restriction. There is insi,rnificant risk of
lharse in r alue ol fir same.

.3-lr:

Fioanciat Liabitity:
Financial liabilities are recognized initially on the transaction date at which the company
t:*omes a party to the contractual provisions ofrhe liability_ The company derecogniies i
tlltancial liabilify when its contractual obligations are discharged ofcanceGd or expire.

Financial liabilities include payable for expenses, liability for capital expenditure and
current liabilities.

irier

!L: l.t -{ccounts payable:


Llbiliaies are recorded at the amount payable fbr settlement in tespect of goods and
'enices received by the companv.

JIS

hpairmeDt:

r, fiDatrcial Assets:
\a...unts receivable and other receivables are assessed at each reporting date to determine
is any objective evidence of impairment. Financial assits are impaired if
It'iactire evidence indicates that a loss event has occured after the initial recognition of
$< assL and that the loss evenr hal a negative effect on thc estimated future casi flows o1
tril asset. rhar can be estimated reliably. Objective eyidence that financial asseas are
a hedler there

rmpaired can include default or <lelinquency


enrer bankruptcy, etc.

qill

byi

debtor, indications that a debtor or rssuer

b, \oD-Fitrancial Assets:
.{n asser impaired when its carrying amount exceeds its recoverable amount. The company
.riiesses al each reportiflg date whether there is any indication that an u.."t may bi
ilrpairEd. If any such indicalion exists, the company estimates the recoverable amount of
the asset. The rccovemble amount ofan asset is the higher ofits fair value Iess
costs to sell
3nd i6 \alue in use- Carryi.g amount ofthe asset is riduced to its recoverable amount bv
r..!1$izing an impairment loss il and only if, the rccoverable amount ofthe asset is less
illan its. carrying amount. Impairment loss is recognizecl immediately in profit or loss.
unless lhe asset is canied at revalued amount. Any impaiment loss of a ievalued
asset
sh3ll be treated as a revaluation decrease.

l3

Shiraz Khan Basak & Co.


Chartered Accountants

3.06

Provisions:

-{ provision is recognized in the statement of financial position when the oompany has a
lesal or constructive obligation as a result ofa past eveni, it is probable that an
outflow of
.conomic benefits will be required to settle the obligation and- a reliable estimate can be
made offie amount ofthe obligation. provision is ordinarily measured at the
best estimaie
of the e\pendifure required to settle the present obligation at the date of statement of
financial position. Where the effect of time value of money is mate al, the amount of
pror ision is measured at the presnt value ofthe expendituris expected to be
required to
senle fie obligation.

-f

Teration:
Income tari expense is recognized in profit and loss account and accounted for in
a.cordance with the requircments of BAS 12: Income Taxes

r) Ta\ deducted by the authorized

dealer on proceed rcalized from 01 January to 3l


December 2014 was considered as final ta\ liability as per SRO NO. 205:AAINI

-{YKOR/2005 dared July 7, 2005.

b) Curretrt Tax:
As per secaion 53BBBB ofthe Income Tax Ordinance 1984 tax has been deducted ar
tource from export proceeds @ 0.80% and the mte has been decreased to @ 0.30%
l'rom lst July 2014 and the deducted amount is feated as the fina] settlemenias final
discharge of income tax liabilify of the compa[y under the provision of section
8:(c).

c)

Ixferred Tar:
Deferred tax arises due to temporary difference deductible or taxable for the evenls
or tmnsaction which is recognized in the Statement of Comprehensive Income. A
remporary differcnce is the difference between the tax bases ofan asset or liabilitv
and its carrying amounvreported amount in the Statement of Financial positiori.
Deferred tax assets or liability is the amount ofincome tax.ecoverable or payable in
furure periods recognize<I in the cunent period. The income ofthe company is being
assessed and income tax @ 0.30% is deducted on the gross fumover oithe compan!
as its final tax Iiability. Thus there arises a permanenLdifference due to unavailability
oftemporary differences, unused tax losses and unused ta\ credits for the company.
Tierefore, no defer.ed tax policy has been adopted by the management during the
period.

.f,.4

Borrosing Costs:

Tlis

has been dealr.ilith the requirement

ofBAS 23: Borrowing Costs.

Borro$ ing costs relating to projects in commercial operation are recognizecl as expenses
in the )ear in which they are incuned. [n respect ofp;ojects that have ;ot yet commenced
.ommercial production, borowing costs are debited to capital work in progress.

t4

Shiraz Khan Basak

& Co.

Chartered Accountants

3.09

Employee Benefitsi
The.company taking initiative to maintain
cont.ibution plan for its eligible pe.manent
emplo)ees in comptiance wirh rhe provisions
oreaS iq, g;;;1.y""

i;;;.r"r".

212 of Bangtadesh Labour Act, 2006, which


stal,es rhat in sub-section 2
-t f::.:::1.,
b\ norificarion in rhe oniciat Cazene apptl rhi5 chaprer ro such
y::l.T*,ma).
.lJ:._
orner

companre\ a. ir ma\ \necifv lherein...And


in .ub_reciio;3 -Noru ilh.randing
an\rhinp conrained in sub-s;dion (t) and (2),
in inau.ttat..cio. *tri.i i, hunOr.a p"r""r,
e\pon oriented or rvhich is hundred percent foreign inlested,
,f,.-*or"_a"n, aur- fr,
rules. for ihe beneficiaries working in ,r"h .e*i.s,
.;",;.-";#
consolidaling bu, ers and ouners, funa .n*ug.o'"nt
uouia, a"t .ain" a--o,int oraonutio,
and procedure for recoven trrercor, adopt
ruies
and relevanr
e.tier necessary rules. noviaed ttrat,. suitr
tuu.a, -u1 uZry f.il.
g"".*_.",
.rdupi regulation- for rhe purpose of thi( seclinn...
"pp."rui'ir

;;;
;';#;irili
for;;;;;;;;;ffiffi;;

TIal is why the company was not able to make provision


for WppF during the year.
Ha\\e\ er the management ofthe compan)
has positive intention to i_pi"_.nt wfef uit".
-r'riication
in the official Cazene b1

3-la

ih. bou"rnr"nr.

Strtement ofCash Ftows:


Tlie

Siltmefi of Cash Flow

has been prepared in accordance with the requircments


of
7: sratemen. of Cash nlows. rhe casil
r.,u,
u""n
:Er\.ned using rhe Direct Method as prescri.ed
the Secu;itie; ;J Er"t ang. Rul.s.
lgt- and as rhe berchmark treatmeni of BAS Z,by"*f,.."tf
- g.o.,
:\:rip6 and gross cash payments from operating u"tiuiti". rnu.;-.. Ju-.."". or
"u.t
ri. aiJJoJ"'"

B{s

lIl

frnings
i-i-''

lE

!;;d;;;';;.#*'J",,ii,,..

per Share (EpS):

calcurales Earnings per Share (EpS) in accordance


with BAs-33: Eamings
'ompao).
\hare.
!rhich ha: been shnv,n at lhe boflom nf Lhe Staremeni
oI Co.pr.t.n.ir.

[a,a..me_

Basic Eartritr gs (Nu mera tor)


Ihrs represents eamings for the
)ear ahributable to ordinary shareholders. As there was no
:eetirence dividend, minority interest or eua ordirary irir.,
,n" n.i p-iu ufi".
-"-' tur. tir.
'-'re \ear has been con-iterea
a. futt1 anriburable ro the ordinrn ,f,*.-ioiO.r".

tA.ighted Average Number


o{ Ordinary Shares outstanding during the period
lIXEolrlinator):

C!rreni Year December

2014:

Th;s represenB the number ofordiinary shares


outstanding at the beginning ofthe year plus

shares issued iuring th" y."i_,ritpii.Jry i'ffi:;ilil;":i:;


5,*:yE.:*,ly
of dalrs the sp"cin" sn",el u.e'o,it.;;0,;;;;
;#;"il;-#;:" .",
::.1:^]TPl
number
of days in the year.

t5

,W

rr"",,")':)

Kian Basak & Co.


Chartered Accountants

Shiraz

The basis ofcomputation ofnumber ofshares as statcd above is in line


with the provisions

of B,{S 33: Eamings per Share. The logic behind rhis basis, as stared in the
said BAS is

thar rhe bonus sltares are issued to the existing shareholdcrs without
any consideratio., and
therefore, the numbcr ol shares outstalding is inc.eased without an
increase in resources
seneraling ne$, eamings.

Addition of Shares was l1ot taken place during the ycar. So the company does noi require
calculating weighted average number oaordin;ry shares.
-r.l

Foreigtr CurrencJ Tratrsacriotrs:

The inancial records of the company are mainlained and the financial statements
are
:rated in Bangladeshi Taka. Forcign cunencv tmnsactions are recorded at the
applicable
r3tei ofe\change ruling aa the transaction date.
The major.activities ofthe compan),.were carried out in USD but recorded
and reported in
B:nsladesh Taka as this is the reporting currency.

i:i

impofi activities were not subiect to anv exchange fluctuation. Onl), the
--rn-Lnbered ponion\ ot e\pl,rt bills uere subject to er.hange fluctuarion qhic-h ua,
:,ill lhrough Slalemcnr of ('omprchen.i\e lncome ot. the <nliry. lureign currenc)

:::rraction

is recorded at the applicable rates ofexchange ruling at

thi t.ansaction

date.

1:rrng the monetary assets


_:\.(ing date. only the expofiand liabilities denominated in foreigr currencies at the
retention quota accounts were translalted at the applicable
:::3! of e\change ruling at that date. Exchange difference on such ffanslation \!as also

:::

: rhrough the Statement ofComprehensive income.

:-.r

if any, denominated iI1 lbreign currencies at the


_.]:nins dale are translated
a1 the applicable rares of exchanges ruling at thaa date.
:r:lance dilferences are charged oifaj reienue expendirure gaii in comp'iiance with the
__ , . . n. ot lA\
21: lhe fl[er.r. ot changc. in l-orcigr Lrchan-ge Rare,.

i L-:

m.rneiary assets and liabilities,

CoEringent Assets and Liabilities:

i :,':rrinsent assets is disclosed when it is a possible that assets arise from the past events
:-: !\ h.rse e\istence .will bc confirmed only b)/ the occunence or non_occurence 01.one
or
- :: un.ertain future events not wholly within the control ofthe entily.
r, :-'.:ingen! Iiabilit) is disclosed when
it is a possible obligarion that arises from the past
:!.::: 3nd \\hose cxistence will be confirmed only by the oicurence and
non_occurrence
:: r.. ... more uncertain future events not wholty within the control ofthe entity.

I!

i-ll

::rins.nt Liabiliries/Assets

are shown io the note no. I7.03.

f\errs after the Reporting period:

-_...

has no adiusting or non-adjusting elent during the year.

l6

Shiraz Khan Basak Co.


Chartered Accounlants

31 Dec, 2014

lrlplrt.r.

Taka

Plant & Equipment

-ll CGt 1'duation


(}..io';! Balarce

{a:iiin

during lhe } ear

Lor.trtd
r:IF..:-!

1,160,927,793

32.087,580
I,215,421,173

22,409.400

I)epreciation

Balance

l)on

6,164
64.485.403
653,761,567
s89,2',7

Value

___{!qq2!6

itc iea]lr.rf lhe above is given in Annexure-1

Taka

1,183,337,191

t:nnEed Juring rhe ) ear

Irirt

31 Dec.2013

1,183;37,193
520,325,832
68,950,332

589,276,165

_:21,06!,028.a_

lEEiHc -{srts
.tr Cd \rlution

(pc*ms

B.rtance

lrah!

J.ring

lrl{.d

23,591,000

23,591,000

23,591,000

23,591,000

r2,873,883

10,982,627

1,607,568
I4,,181,451

1,891,256
12,873,883
10,717,117

rhe ) ear

-{mortization

&am'E B3ffre
&ri :-;ng .ie

] ear

arG Dor r value


ft ,!* . a:'.\e above is given in Annexure-2

9,109,549

(.lil

lf o.}s-in-Progress
Lmtui'E

tccrcr

30,287.406

B.riHing

1,513,260

Ec:,8
lG T:-:^--1.

894,265

256,875
8,876.062
41,827,868

Fi?

Lrlsr

hvestment in FDR

fDR \o,
t-l:'_,:,}{9t002
!-::r:,:,rjO0O05
t-:l:r1n501006
t-::1:':0501006
t- : :1:':r,qt6005

fL rtre

FDR are kepl

Name of the Bank


City Bank Ltd.

City
City
City
Citv
as lien

Bank Ltd.
Bank Lrd.
Bank Ltd.
Bank I rd

634,285

1,155,995

1.057.15 r
a<o

\\ith Ciry Banl I td.

30.01(b & d)
30.01(d)
30.01(d)
30.01(c & d)

fui:DE \tr.rials

rri

1,057,151

693,590
462.395
1,625,032

h.i!:
l \lra.tals
A

1,157,057
1,155,995

PrN-ass

Ffi.$al Cr!\1i
17

't

40,038.124

t.062,619

/)t

_r-,340-65119,138,478

28,384,14,1
3,5

t2,812

4,551.1',t9
48,476,213

2r5,738,697

Shiraz Khan Basak Co.


Chadered Accountanis

31 Dec.2011

Taka

9.01

ll

L--a

r<.r

353.952,365
219.827,021

15,1,036,854

__sEJ1e,38'

___!11{!2t!3

289,625,629

rb{. from Foreien Comoatries :


1.12,r89.,169

65.302,213
218,958,007

87,t53,567
21.0r9,r65
16,913,i09

,14.9r,541

59,93,{,691

{Eu: i ,.,i-(: .::1 Lolr)

+r.r

1r

Yril.r

__:2,r73J13

6,521,964

1,863,06r
3s4,036,8s.t

_i:ry5?i!!_

USD R,1.

Rereivable In
BT)T

'11_9s ts1.952,36s

s1.5.r0,762

t,!-tg: : a|91:. ]::

____r1]jtqls

76.5l

$,1,5.10,762

Lnsi)

i47,:130.401

i54,036.854

6,521.964

t' I _-:" 1: . -:: : :cin nat.d al their nomi.al valu.. Bils receivable are accrucd
.:. .! ha\e been co.sidercd as good and.ealizable.
te r'c ::: -i':r::1 j!,si\enbeto\r:

319,173,193
4.86.1.061

in the ordinar] course of

below lEo days


75,686,678

142.189,169

1,12,t89,,169

n.666,889

87.353.567
21,039,165

21.039.16-{
36_911.509

36_91:r.509
59,914,691

59.9i4,69r

E f.rF Lr.r fDh tDrer-Company:


l,"r!.r : --j::- ::,- Lrd
Elora i.:i-- :ll I rJ.

_.!_215t4,877

___l-z4,E9!i24

138,809,780
81,017.2,11

2$,421.021

!l]tl!,4a.L
181,.10:1,I75

10a,222,454
289.625.629

-i1 : - r:.=--: - _rlh recured an.l gLraEnreed paymenl


by
tetrer ofcredit openinS banka$jnst
:'E <. : - . : ::-.J :r\d & realizabie within one year as perexport
the tenns of ex pod terer oicredil. The
:&.--s:r::-::.\:rrl.sasrequiredbyrheScheduleXlollheCompaniesAct.

Prni.'r|,..
.. :: \ i_ r. ..J-\ der(d good in resDelr .I $t i.l. lhe

: -r -r Iu l) .eclred
-:.. ._- (. -on.rJered eJod .r ru,pecr ofuh,crE
. -- '') ]old. to_:!]!_g\1!4n ,he debrtr pe,-1,r
-..: rrhLe.onsidered doubftut.r h,d

::
un
,
\
--c:-,:

:1.-,. r:or.s oue p) colmon muagemenl


.i r.\,mum amount of receivable due by any direcloror

:r-.:.it.erof

! ...et!able

export

1994 are siven betow:

353.951.365

35,1.036,854

219.827 021

289.625 629

573.779347

613.662-1a3

the company

is siven

in Annexure_2 & 3.

18

Shiraz Khan Basek Co.


Charlered Accounlanls

3l

IlqEit

& Pre-payment :
10.01

Tax

0.02

10.01A

S.ldy ro Statr
AgaiEt E qe.ses

r0.01B

frFrrc Iosurance
frFtrE Fighings

tsE

31Dec.2013

Trkx

hane

Dec. 2014

Maiagement Fee

Trkr

38,344,057
450.000
3E 794,0s7

20,981,607
450,000
21,431,@7

5,836,637
8,s67,900
3,258,000
1,910,920
17,960,600

5,407,507
2,449,1_00

11,875,000

700.000 I m0
---rtla.osz --ro-JiiAi
-_250

Tr ftm Sales proced

5,272,731
464,sa'l

Iatr@SND

TrtmFDR

5,272,731
64,289

149,319

s,aE6,6J7
---33s6357
AlriE

Alirtl

Faclory Supply & Chemicals


Repair & Ma;ntenance ofMachineries
Licnse Renewal

&iBi
^!i!t

Cdrmercial Work

&iE

Test
Compliance Audit Fee

432,000
25,900
612,300
307,550
1,123,400

aCirt llb

IDB

250,000
150,000
50,000
450,000

DESA

-T&T

26,'760,090
11.0t

hd

163,884,136

---leodid
,644226

250,000
150,000

50.000
450.000

17,38s
158,837,5s1

riii<zn-l(
r5&E54,936

rqrEsnt a substantial amount as all most all


the tmnsactions were made in cash-

Bd

B-k

lit
hth

5.4a17.501

IrL(cDA/c)
Ltd. (FC A/c)

l(CD A/C)
Agriculturc Bank

19

144,277
64,519,161

35,t26,899

rG,8E4,136

104,566,369
158,837,5sr

19,144,277

*,.,*"',J

HH-',
l,=*,;:::;:.
31 Dec.20l4

3l

Tak,

Dec.2013

Taka

ffiffi
ffiffi
ffi
l
''*

l-r**ru**"*#,i;i;r
-' -,'""^
I .t- -',.,;;i,r':'"
i,i::,l;. i,:s:;:
:4t;;i
'liJir
,rlir: ,tt,,ii
I
..

ii:lJ

l#
I

";i''F,]
"
f=

11;r,6-

i*ffi

i,iiri; :ryIrml ,*il',lm

lffilm

iffiffi

iili
I ,.I-":'ri''"
::-:--.:r";'.""",*
#L#-#+;ffid
I

ll

li

l]

,". ,,
[- F:-:-r:".
I :-:.:i:.ifitiJ".'il":i:;;";,,_. ;J::,i",ji, ,:,,:." I
,
l:=
'-'ru{r 1r.11,:os I

#jH#
L-*-:"*i'*"*'n**"
I
#*H=*;;.*::,:, I

l=

-::-,-

-:.:.,3d1,.buildingsandplant&machineryon3lo"*,,n*r,Onll"-*lI

---@
t
!

__l!!{!i.ro,

EiM-alr;E;;l
l16
ll rel
5.t5476 5*2tt,61
5e,333:6 5r,r4q@
o7(e19t --ffia_
rTtmm'
--='Jr.'5&

#ffi

__@;

l,5l5,a?7

--=---t1w
f

l:r'*L-r osrk I --ffi;r


-------J!,e

113216
-

tM-rF
_ ---ffi-

],5]r,c5
1e211

77\M

.f3,llJ

_ _rc

_--i{j&

- a[5t-Ji ,rrF

14-759-71?)

molbtra|rwddEo,plrBequ].!o

--'{@:

trl

,t

t r]<ul2rion of\lorker'\ profit panicipstion tund


iEi -s ttullr for lhc ]ear

r0t4 -.lfJr DecloLr--l

I r"r.. ll r,r,

Dec.

-- _ rdclal I \pen\er tor rh<


\. 5 bsiorc Ia and \L ppF ledr
: . : -': tir. \\ PPF ?rl 5% on thc abovc mount

I: ( mrglrr

ra

(59,159,044)
83.643.06r

liabitilies smod ar Tk.

-----TSrtJ0'r

--

Assets/Liabitiiies:
1

142.802,10,1

12. t

27,779 s hich tuise riom rhc assessmcnr year 20t,1-2002,

l._-:.!:008-2009.2009-20r0.2010-20u,20l12012.forthelaiesubmissio!ofrerummdfori;teresi.A
r" , :i :or id\alion amounring ro tt. 9,62j.346 has been crcated for rhe assesmem vee mcnrioned above An

.r:- . \( \do llundt aomri...u-e. o. tde. agn rs hnle t rD rir.e. Oi


t'..r_::mounri.groTk.2.502.43l.\\tichisconside.edascontinsenilarliabitirtes.Noprovisionaeainsrlhat
"."*otrr..*....n _o,^

a - :i 1. been creared d it is nol probabte rlat an ou tow of rcsorrces cmbodling cconomic b.ncnt;il bc
_*-:: :: i.nle ihcobtjgarion,
o. a sufficielrly reljablc esdmatcoflhe

mount otth;btiAalion cdnot bc made.

-ti.!q for Income Tax:


.d r r:r.. durinS rhc )ear

12.766,97a
18.01

'

irI.(d s adtunmenr ior ta


--rnr durin! thc \cd

Dro\

inon

F eE for Trlation:
_: --a':!
3nounr provided on Busincss ed

io ts*@
-=! \'r-

26Joa.E6-

Nonilusincss inoome

as per

1.375.119

--fr,firsrr
-Iq;r9trxrr

Incone.rd Law.

before'rax:

..Frino

6,923,195
- 13396iit

100.164.'153

Income for spararc consid-atiox:


525,511
4,002.981
4,1,11,20u

3.729

iE

i*

t9i

Busine(:

ri\

$ur(on

87,765.J2E

rk..1.866.or9ffiffi"tttem"nr
:]:--:. .:
G:,r,-'l.Jnm<Tdurdinaiceta8ldddn\p-ot,
.r(d\oe.Jd\mlcln.ometA ""per
Ei:,.r i .r j.e ro bc considercd rauble rncome unuer secrioo 32 a (ol or rN r;(om! Tr Ordiomc< 1984. As
|E r- r. li\ p(rhion hd arived as touoss:
48.660,990 4,866.099 .1.7i9,1.18
E:: r::.3 10%
19.104.318 1,910.43.1
1,729.395 172,910 1,171.459
*.a!= _.: :jss @ t()%
,1.341.203 . 434.i 20
@-:r
-ia 37.i%
525_5.17 197,080 168.506
@E :: !\t 3 37.5yo
4.002,981 l,50l.l18
241,082
d.drcrcd

dr

e\pori

birLs

reatizalion

1r,2E1,790
(,,,866,099)

trom export proceeds

6,921,195

6,4ts.691
i9 0l

6.92J.19s

758.9i I.300
75E,9.)

3l

Dec.2014

kelmd- US^. UK. SDai.

2.o'2,'01

\1exico, Chi1i.

225.901.80'

5,l5l.l83

197.28'l

I_I<

Brail. ltuliaio

I,300

Jl Dec.20l-l

l2l

601.fi1,202

609.075

16.78i.031

91.815.856

47?.88.1

16,s8.50,

776.557
9,987,.102

766,417,162

59.934.691

/uZat\
,r(
Dh",a

):

A,Vi

Shiraz Khan Basak Co.


Chsrtered Accountanls

3l

Dec.201,1

3t Dec.20t3
Taka

Bu\er name

Items name

Pullover

Ll hit!.rA rlhan \Ie\ico. Walmart


CY. srhrn Brazit. primark, \'e\t,

31 st Dc 201,1

V Neck

548,510
2..2s1.200

West Coal

1,384,i70

liound Neck
HighNeck
Puilover with Hoo(

1,86s,82r

V Neck
Y Neck

A.firlo. {njuu)

Wesr Coat

Cardigan

r21.510

205.8',7',7

I5,713.r20

rf&ruli

1,926.078

548,512
r.548,521

t,284

41.006.757
121,885,539
.2,401,t65

20.01

3t2,121,793

118,s39,827

20.02

98,848,589
d11,573,382
4,551.179
416,121,561

412,789J80
].125.112

Round Ncck
High NecL

1n,6ttJ t
20.03

(Annexure-1)
8.00

- Closing

8.00

10,1,249,551

,146,511,822

s12,636,810

441,963,643
65,062,06s
62,055,299
569,081,007

48,4',r6.241
591,113,053
32,451.522

601,061,962
18,116.213

558,661,s1r

555,591,7r9

71,988,228
58,016,862

Cooiuned :
8.00

rrrE 'i:-i.::< :_..: iie \eat


rl,]l!i, l,,'.:.-'i, r..:: rile 1br producrion

--:tr i,:- _;:::t"

800

119,138,478

15.492,58',1

333,621,439

182,r85,7r8

152,762,917

4s7,678,30s
I r 9,1t8,178

1,10.038,121

312,721,793

lb-

8.00

(.r { t ?Id.<Dr,
!r. . -r:.-c: i:.:,r!-Opening
-J3i ::-: ,-e: j:,:,:.

9,555,470

6l

25,,110

8.00

,-:li L ri - r- i:!. ctoiing


fi- x: c.np.la,n
\c {"rr:-_.i._-- -: (lrerhaad

t06,251,902
t12,419,761

'791.9',7',7

tD !"gE-.-.---d
r*:r.:g '.r-1-1. . 1..,.a,1

171,1',70,040

thtlrirls

Consumed

--f5Bsrr"s,

{rrc }J:-i< :-:i:r ihe }ear


'l@_r".. r .. :: 3 tor Packing

8.00

--!

R00

:,:: -: !::.:i

23

41,512.',791
81.659_9:16

23,231.764
124,587,585

121,232,733

117,822)50

28,384,144
98,818,589

10,1,249,553

43,512,791

Shi.az Khan Basak Co.


Chartered Accountanis

3l Dec.2014
Taka

tl rfrcturitrg Overhesd :
iial & \\ ages
tr

rEl \I aler & Po\\,er

F\a...!

[* lei
Snr: &

Lease Rent
Charges
Spares Consumed

Rjltair5 & Vainrenance


Erpenses
Sc1:rila Sen ice Charges

30,692,707
18,935,13E

2,193,221

1,710,918
55,600
700,455
1,128,600
60,000
138,450
356,000
1,408.546
54,632

1,128,600
75,000
124,900
600,000
2,359,r 28

rci.rm & Lileries


\aoli.alE\penses
Sira T.aining Expenses
L_.-iT!!e In\ ard
rksents Printing & Washing Expenses
LE\_fi \larerial Utilization Declaration Expenses
i & F Charges
fa:ramrnent
i:rhs O\ erhead

612,92s
145.620
3,305,806
1,540,81r
18,1,780

7r,98822E

Qrrrirg

Taka

t9.2.86,679
504,000
3,968,108

I,728,6s0

Dec.2013

33,362,220

567-780

ilEdi':al

3l

1,459.r25

70,628
3,621,455
r,538,611
1J1.200
65,062,065

Etpenses :

hE-finirn & Selling


\&E\aad\ e Expcnses

21.01

16,012,763

t3,334,174

2t.02

44,4',77.549

47.203,303
60,531,177

60,490,312

h.rion & Slitrg


SirE & \\ elfare
lL {.r Freighi Charges

liii:lirrg E\penses
Treu1tri.n and Handling

aa!18

2,139,708
1,600,599
17,',700

Expenses

A \laintenance

R-.B.rion Expenses
ItrEdrEr E\penses
CiEr.r & liindling Charges
bs Eni.nainment
!-f Ctr::.r & Commission

fE-

1,626,000

I,647,r82

2,08r,450

2,141,261
1,899,866

2,392,500
469,500
1,020,830
r 78,900

725,800

D+a::fiL.n (Annexure,l)

24

1,538,874
20,000

1,700,500
82,750

1,r02,500

L\oelEas

2,520,678

52,500

1,665,i89
r,289,708

1,432,942

16,012,763

13,334,114

rrti-l tx 1r* rotl-I r,u ll r.r..


T:i D.-

2r_02A

2\646292

40t3,322

1224,000
t92OO
326556
4,399,746

1.224,W

2602OO

281,365
1,374,246

21,000

42+E35
1,764.51',?

l!77;4E7
413,850

6t2,M4

1209,ffi

l,0Eq4oo
5l&620

665,EE7

2,878,000

21153.120
2,901,010
300,000
1,380,000
34E.124

23,000
425,000
1,380,000
295,752

424J50

95q750

411,600
190,130
5,15E,832

4u,600
299,500

6895,033

r,607J6E

____4,17151e

_____17203303

3,600
3,000
3,000
3,600

auddo.

Ooqtuy

2,4\n
3,5m

---------TErr
rt,7u
59.88&,266
----'nyjFFr

420d
4200
3,000
3,000
1,600
1,000

------7Im
16,435

59,114,ffi
-----grgr

5U,54',1

149,349

4002,981

642,E85

4.34t,203

3;129.395

3,43o,Elo

:::lr*FJrr@
9.01A
l6_0t

4,711,890

(78,06{)
------zlsw

klLE(EPs);
(ft-)
ltubd

of

&r.s.

tubay

89,082,553
Sb,uEs

Number of

tuin

outst

ldiry

60,000,000

dEing $e ys!

l.zl8

ry

sbac ourstedirg duitrg

the yar

frm

or-or,:mr:
o: r-rz-zor j

81,991,1n
30,193,E30

L72

llt

.]

De roll

I r"u llful D-;rorr--l


r.r.,

GL)

89O82,663
60,0{0,000

olirndnE

A1,99t,797
60-000.000

l.{E

(NAD

r.r StrE

137

6m,000,000
318,640,820
208,854,m9

600,000,000

2M,153,222
239.yt2-31t

1,t27,494$29 U44,r2s563

60,0m.000

60.0{n 000

la,79

v)

vrl.

r7-lto

(NAv) pcr ShtE :

1,127,494,A29 \044,125,563

& Uulovelble IpO Advmce

(9,809.549) t7l-967117\
r,lt7,6E5ra0 1p32,1.a,417
60,000.000 60-000.000

Ytc(NAY)

frr.

l&61

fm
Fi'd

FGiEr Cusromas

9.00

349,173,793
765-817,162

19.00

fioD

ftrigtr Culromrs

17-2n

201.6Tt,897
?58,931.300

9.00

289,625,A9

351,055,EE0

9_00

(219.827,021\

9.00

(347

(289,62s.629)
(319,171,793\

A30,4Ot)

88Jsqt62

67E

E6i655

(555,59r,7t9)
(2ts,738.697)

16.00

(558,661,531)
(204.386,632\
(6,612,@8)

8.00

215,Ta,697

137,439,749

6232,922
58,036,862

6,67LfiE
6\055299

21.m

(@.490312t

(60,531,477)

10.00

(38,794,057)

(21,431.6{yD

17.00

(9,781.2-49)

20_00
8_00

16.00

17.00

(5,841,53'

(I

1,534,699)

(3,983,003)

10.00

21,431,607

2,E45,836

17.00

6,151,431

9,18t249

1,607,568

1,891,256

6,448,540

(56,r.]&76r)

Itrr

Pcr

sirE (NoCFps)

223953.436
60,000,000

LE Oistanding(De"oninalor)
rhr! P.r shrE

thd

has

(l&216162)
60.000.000

____@30I

Lriod (BASro)

I dEr

(617,t77.7O7\

--j!2

b6t G.urEd betw@

26

Bal&ce sher dale

ed

the (late

o.

which rhe

6rcid

Shird

Khan Basak Co.


Chartered Ac@unbnts

ihrrCommitments, Contingenciesand Retevrntlnformrtion


'iutrin sis. schedule rs require.l under plrr 3! Schedule Xl, part II ofthe Codpanis Act, 199:l
::....:<ihcdul.jofsal.s,ral!mareridlconsumcdandopelingand.tosiigsiockoftinishedgoodsrctaline
-: ::::_;:rl iurcm.nlr 1br rhe ]ear cnded 3l Decemb.r 201:l d rcquired lnder pda l_ Schedule xr. pa.r II of
- -:::r- 1.t l99i1are si!.n hel.u0l-01-2014 to.]l-12-2014

01-01-2013 to 3l-12-2013

Quantit!

Quartitl in

2.100.869
2.100.a69

i Rrr

766.817.162
766.417.162

uateriels Consumed in Ouantities {Lbr:


779.570

:. . '., :::

;-I

rl

1.853.469
2,633.039

ailable for .onsumptio,

3\

117.990

r1.:-::Coniumcd
sales and ctosins

stockoffinish soods:

Quantity (in

Qnantity
162.016

,. hnrul.rs

r04,682
I62 016

.18.'176.243

Quantity
32.'r51.522

:-_:

-rJ-

Quartity

779.5',10

lla. l]8.178

11,450_578

43,572,797

777.990
t3_450.57ri

25,t r l
r62.036

4.551.179

22.518

3.512.812

10.1.682

l:.151.522

8. S.hedule

P&a8. S.heduleXt. pan

-i:-- i:.- & I,alking

XI, part It, ofThe Comp.nis Act

of 1]le Comranies_{cr. 199,1

r.

d\ u.der:

lt

l3l-62.1.'139

333.624,.119

83,659,936
417,2E4,.]75

83,659.936

48,848.58q

4r7,284J75

:ll1,573,382

-'c .1,: iairpor.cd ra* materials is calcxlared on L1!

758_931.100

in R.spect ofOpening Stoc[rnd Ctosing Srock oflnvcnrories

-t-.G inttuboD rs per requiremenl ofpara

2. r00,&r,r
r.969.095

.18.'r76.2,11

Quantity

'

7',19_511

_____-u!55,05! _____1J42JIL

h.riculers in resDect of opening stocL

li1.2U

180.390
t.841.610
2.222.000

basis

1.724,ri)l

r.10.038.t2,1

28.384.r4:l

Shiraz Khan Basak Co.


Chartered Accountanls

ILIS \!-b.r offmploves .


::r '-.r*- Poinion as at 31 Denember

!A^

2014

Ofiice Slr{T

nge

:-l-r95
95

I!l.

hi

,.,Ceacil}

has siven below:

Instrlld
CaDrcity
2.100.000
6,570,000

6.570.000lbs Der vear

Crti.l
-:|=:

E-:

Erptrditu.e Cornmirmnr

2.100.869
5.253 378

79.960/0

. ar no capiral expenditure commitnent o. contract at 3 I December 20I 4 There was no marertal


.\:endirure authorized b) the Board but not conhacled for ar 3l December 2014.

f,rtr<rors lnre.est in Cootracts with the Compr.y

,:':..::..:31 ad!isor

on accounr of dividend, royalB. rechnical experts,

n RAted partv transactions

:r,-5-'

sirb the Company arrl no leasing facilities

fees, interest, elc.

lAl.d p.m disclosures


]r:::

transaction resulting in Dircclors' interest

:.jr made a!ailable ro fic Directors.


.*-r f..ttn ReDitunces :
\: -:::irl13nces $as made in {orei$ cunency
-r.'.:

R-.4

579
519

432

CrF<irl Lrilization:

3-650,000 Dcs Der vear

I,T

4i2

52
52

License Caprcity

II

Total Employee

Head Office

.-\e \ear. the


compan]- carried out a number ofrmnsactions with relared parties in the normal
bLAiness and on an arm{ Iength basis. The name of these related panies, nature of these

ri

:r-<G.1i(.m and their rotal value have been ser our

-_:.-p3n] under common directorshi


Nature

of

Nrture of
Relation ship

:F...

-:+ial

S$eaterBD. Ltd.
S$ ea1e. BD Ltd_

Dec- 2014

31 Dcc.2013

118,80o,780

181,403,175

t,0r 7,24

219,827,021
28

3l

Tcql:

Transaction Value in Taka

r08.222,451

Shiraz Khan Basak Co.


Chartered Accounlants

Dr. or
Cr-

D.agon Swearer BD. l,td.

Relation ship

Transactions
during the

Ootstanding as
at

3lsl

December.20l4

Cr.

Management

Total:

r,180,000

115.000

I,380,000

r 1s.000

\o

provision for bad debts was made for relaled party transactions since rhe rransacrion are made
alnst contraci and are regular or realised fully in subsequent years.
Directors' Remunerat;on & Feer

Nature of
Relationship

\{ostafa Quanrus Sobhan

Remunerarion

&

\losrafa Colam Quddus

l'.rura

QLramrun Tania

Remuneration

Totat

&

TraDsactions Outstanding rs

at3lsa
Decnbcr.20l4

during th

Chairman

240,000.00

20,000.00

Managing
Director &

768,000.00

106.000.00

Director
(operation)

720,000.00

60,000.00

1.728-000 00

186.000.00

29

@
i
i

t
I

Shhaz Khan Basak Co.


Cha(ered Accountafls

ii) Particulars of lrirecfors olDragon S*earer & Spinning Ltd.


Name ofDircron

BOD of Dragon Sweater

&

as

at

3l

December 201.r

Ertities where they have intcrests

SDinnitrs Lld.
Moslafa Quam.us Sobhar

Rupali Insurance Company Lrd.


Dragon Sweater BD

Ltd.
Ltd.

Chainnan

CD
CD

Spinning Mills
Acrylic BD Ltd.

Rupali lnsu.ance Company Ltd.


Dragon Swearcr BD t td.

\'losrafa Golam Quddus

Managing Di.ecror & Director

FauTia Quamrun Tan;a

Director Remunerarion

&

iom

Perag

Ltd.

Perag

Sonali t-ife Insurance ComDanv Ltd


Rupali lnsurance Company Ltd. Sonali
t.ife Insurance Company Lld

Director

Pavmenl to diecrors during the year

Impe.ial

Lrd.

I asnia Ouamrun Anika

Disclosure as per Requirement olschedute XI, part

Ltd.
Ltd.

Rupali lnsurancc Conpany Ltd. Impe.ial


Sweater BD
Sonaii Life
Insurance Company Ltd

Director

Shafia Sobhan Choudhu,

CD Spinning Mills t-td.


CD Acrylic BD
Sweater BD
Socks BD Ltd.
Rupali lnsurance Company
Socks BD Ltd

tl,

para.t ofComprnies.ct 199;t:

st Januar) 20 I 4 to

3 I

st December 20 14.

Fees :

Director are entkled to Tk 600 as Board Meeting lee for attending each Board Meeting as pcr Artictes of
lssociarion. Managing Direcrols monthh remunerarion is Tk 22.000 and Chaiman,s remuneration js Tt

rr1.000.

This is made uD.s follows:


\am of Board of
243.600

\{..(rala Golam Quddus

Managing Dircctor
771.000

& Di.ector

FruTla Quamrun Ianra

l3inia Quamrun Anika

i0

Shiraz Khan Basak Co.


Chartered Accountanls

.I.ral P.rticulars ofAudit Committee :


.ln aldit commhlec has been formed

by the board ofdirecrors ofrhe company in its Board MeetinS held


on \o\ember 6,2010. fhe commitree consriruled with a chairman and two rnembers. At Slst December
:01.1. .he members of the comminee were as follows:

Position

\lGtafz Gol,m o"ddnc


Fauz ia

Manasins Di.dtor

Sratus with Comnittee

trducationrl

Chairman

M.Com

& rrirector

Ouanrun Tania

Shafia Sobhan

Djing

M.B,A

the year ended December 31,2014, the followings number ofmecrinss ofrhe audir commitree

5.ld \^ith the company's Senior Managemenr to co.sider and review the company's financial

sialernenrs

a1d risk malagement.

MeetinE

Dat of meetins
19

29 June'2014

25 November'2014

l
lltome Tax

March'2014

Assessment StatDs :

1999-2000
2000-2001
2001-2002

2002-2003
2001-2004
2004-2005
2006-2001
2007-2008
2008-2009
2009-2010

2010-20r r
2011-201?
2012-2013
2013-2014

Assessment ComDleted & Fullv Tax Paid


Assessment ComDleted & ADDlied for AoDeal
Assessment ComDleted & Fullv Tax Pa;d

2000,200t
200t -2002
2002-2003
2003-2004
2004-2005
2005-2006
2007-2008
2008-2009

-doAssessment ComDleted

2009,2010

& A.olied for

-do-

2010-2011

201tto12
2012 2013
201:\-2011
2014-2015

Assessment

31

i! in Drocels

AnDeal

!jj

lc:

1-

;[r

.l::

!li:!l

Shiraz Khan Basak Co.


Chartered Accountanls

Dragon Sweater & Spi[niog Limited


Schedule of Bills Receivable
As at 31st Decemhr 20ld
Annexure -2

Balance as on

Particulars

0l Additiotr duriLg

01-20I,t

the year

Realized during
the vear

Balance as on

3t-12-2014

65,302,2,13

225,90r,809

l,1e,0l4.582

142,18'),460

238,958.007

389,076,576

s,10.681,0 r6

87,3s1,s67

,{4,9r 3.5,13

46,78t.031

70,657,,108

Sub-Total:

349,173,7c2

\',r-red ro \,larket Gain/al o


Total:

,1,863,06r

354,036,E54

t,0lq,ro5

36,913,509

36,913,509

5q,q34.6o1

59.934.691

758,609,616

760J53,006

758,609,616

760,353,006

347,430,402
6,521.q04

3s3,9s2J66

Dragon Sweater & Spinning Limited


Schedule of Inter-Compary
As at 3lst December 2014
Annexure - 3

Balance as on 01 Addition during


Adjustment
0t-2011
the year
during the year

Particulars

:-=::1
mE:-rl

-1

S\\ eater

(BD.) Ltd.

Balance as on
31-12-2011

81,,101, r 75

651,87q,084

6e7,472A7a

S$earer (BD.) Ltd.

108,222,454

4s,631.223

72.842.436

81,017,241

Total:

289,625,629

700,516J07

770J14,91s

219,821,021

r\\e

1r8,809,780

inter Company *,ere created to procnre raw materials lor the companv and it is also
=*': -::rg e\ports orders on behalf of the companies under the cornmon ownership. Since, the
:rr \:.:ions among the companies are regular in nature anrl- thercfore, no prorision for bad debts is

33

":tr*Hitr"#t
Dragon Swe.ter & Spin ng Limitd
Schedrle of Bills P.yabl

L4nrGrur - 4

As at 31st December 2014

i
i

I
i

t
I
I

Вам также может понравиться