BANQUET HALL

SOURCE DATA
STATEMENT OF FINANCIAL POSITION

2019
Note Rupees
ASSETS
NON-CURRENT ASSETS
Property, plant and equipment 5 26,165,500

CURRENT ASSETS
Stores and spare parts 1 100,000
Stock-in-trade 2 -
Trade debts 3 -
Loans, advances and prepayments 4 500,000
Cash and bank balances 5 970,000
CURRENT ASSETS 1,570,000

EQUITY AND LIABILITIES

CURRENT LIABILITIES
Trade and other payables 6 -
Markup accrued 7 -
Current portion of long term financing 8 -
Provision for taxation 9 -
TOTAL LIABILITIES -

NET ASSESTS

REPRESENTED BY:
Equity 30,000,000
Subordinated Director's Loans -
Short Tern Borrowings -
Long Term Loan -
Total Capital Cost 30,000,000
BANQUET HALL
SOURCE DATA
STATEMENT OF FINANCIAL POSITION

2019
Note Rupees

Sales - net 9 7,695,000

Cost of sales 10 (2,423,925)

Gross profit 5,271,075

Administrative expenses 11 (3,753,420)

Selling and distribution expenses 12 (178,100)

(3,931,520)

Profit / (loss) from operations before finance cost 1,339,555

Finance cost 13 (27,230)

Profit / (loss) before taxation 1,312,325

Taxation -

Profit / (loss) for the year 1,312,325

BANQUET HALL
SOURCE DATA
STATEMENT OF FINANCIAL POSITION
2019
Note Rupees
1 STORES AND SPARE PARTS
Stores -
Spare parts 100,000
100,000
2 STOCK-IN-TRADE
Raw materials -
Work in process -
Finished goods -
-
3 TRADE DEBTS
Debtors - considered good:
Secured -
Unsecured -
-

4 LOANS, ADVANCES AND PREPAYMENTS

Loans and advances to staff - considered good -
Advances to suppliers - considered good 50,000
Advance income tax -
Others 450,000
500,000

2019
Rupees
5 CASH AND BANK BALANCES
Cash in hand 970,000
Balances with banks - current accounts -
970,000

2019
Note Rupees
6 TRADE AND OTHER PAYABLES
Trade creditors -
Advances from customers - unsecured -
Accrued liabilities -
-
7 MARKUP ACCRUED - from banking companies - secured
On long term financing -
On short term borrowings -
-

9
BANQUET HALL
SOURCE DATA
STATEMENT OF FINANCIAL POSITION
2019
Note Rupees
8 PROVISION FOR TAXATION
Opening balance -
Add: Provision for the current year -
Less: Adjustments against completed assessments -
-
2019
Note Rupees
9 SALES - net
SALES 9.1 8,100,000
Trade discounts (405,000)
7,695,000

9.1 Number of fuctions per month 6

Number of fuctions per year 72
Esimated per head rate 150
Average number of guests per function 750
Annual income from fuctions 8,100,000
8,100,000

10 COST OF SALES
Salaries, wages and other benefits 923,400
Power and fuel 461,700
Repair and maintenance 230,850
Other overhead expenses 538,650
Staff entertainment expenses 153,900
Misc. expenses 115,425
2,423,925

2019
Note Rupees
11 ADMINISTRATIVE EXPENSES
Salaries, wages and other benefits 720,000
Communication expenses 26,400
Internet expenses 62,400
Water and sanitation charges 90,000
Printing and stationery 24,500
Entertainment 21,120
Fees and subscription 42,500
Legal and professional charges 502,000
Deprication 2,264,500
3,753,420
12 SELLING AND DISTRIBUTION EXPENSES
Commission and brokerage 72,500

10
BANQUET HALL
SOURCE DATA
STATEMENT OF FINANCIAL POSITION
Promotions and advertisment expenses 105,600
178,100
13 FINANCE COST
Bank charges 27,230
27,230

11
BANQUET HALL
SOURCE DATA
STATEMENT OF FINANCIAL POSITION
2019
Rupees
Cost
Land -
Building & Interior Design -
Machinery & -
Electronic
Furniture &Equipments
Office Equipment -
Crockery Items -
-

Additions
Land -
Building & Interior Design 20,000,000
Machinery & 4,360,000
Electronic
Furniture &Equipments
Office Equipment 3,070,000
Crockery Items 1,000,000
28,430,000

Accumulated depredation- opening

Land -
Building & Interior Design -
Machinery & -
Electronic
Furniture &Equipments
Office Equipment -
Crockery Items -
-

Depredation charge for the year Average %

depreciation
Land 0.0% -
Building & Interior Design 5.0% 1,000,000
Machinery & 15.0% 654,000
Electronic
Furniture &Equipments
Office Equipment 15.0% 460,500
Crockery Items 15.0% 150,000
2,264,500

Written down value

Land -
Building & Interior Design 19,000,000
Machinery & 3,706,000
Electronic
Furniture &Equipments
Office Equipment 2,609,500
Crockery Items 850,000
26,165,500
MODEL CALCULATOR

BANQUET HALL FACILITY

Project capital cost Operating assumptions

Gray Structure 20,096,000 Working Days in a year
Crockery Items 1,034,950 Capacity
Interior Design (Estimated cost @ 250/Sq ft) 4,000,000 Food serving per day
Electronic Equipment 4,206,000 Food serving per day (In Ramadan)- 30 days
Furniture & Fixtures 2,930,000 Full Occupancy
Office and Other Equipment 468,000
32,734,950
Capacity utilization
Year 1
Gray Structure Year 2
Item Area (Sq ft) Per Sq ft cost Total Year 3 & onwards
Bricks 16,000 245 3,920,000
Crush 16,000 67 1,072,000 Revenue assumptions
Cement 16,000 195 3,120,000 Sale Price (Per Person)
Steel 16,000 202 3,232,000 30%
Sand 16,000 42 672,000 40%
Labore cost 16,000 280 4,480,000 30%
Steel fixer 16,000 10 160,000 Service Cost (SC)
Plumbing contractor 16,000 18 288,000 PRA Tax (16%)
Electric contractor 16,000 15 240,000 Gross Sale Price (Per Person)
Other items Gross Sale Price (Per Person)- for Take away
Electricity items 16,000 25 400,000
Plumbing Items 16,000 50 800,000
Earth fill/Bharti 16,000 26 416,000 Gas consumption assumption
Brick tile 16,000 10 160,000 Gas Cost
Guard salary 16,000 20 320,000
MODEL CALCULATOR

BANQUET HALL FACILITY

AC copper pipe 16,000 9 144,000
Bitumen 16,000 4 64,000 Marketing Cost
Polythene sheet 16,000 3 48,000 Digital marketing cost (Per Month)
Mud 16,000 3 48,000 Social Media paid marketing (Per Month)
Chips aggreate 16,000 4 64,000 SMS marketing (per annum) on different occasions
Taxes 16,000 5 80,000 Email Marketing (per annum) on different occasions
Electricity bills 16,000 5 80,000 Miscellaneous
Water boring 16,000 4 64,000 Total marketing cost for a year
Anti Termite spray 16,000 4 64,000
Random expenditure 16,000 10 160,000
20,096,000 Software Cost
POS based accounting Software(Per month)
Network/IT professional (Per Month)
Crockery Items Total marketing cost for a year
Item Quantity Unit Price Total
Spoon 1,050 150 157,500
Fork 1,000 130 130,000
Large Plate 600 300 180,000 Telephone Charges
Small Plate 500 200 100,000 Printing and stationery
Serving Bowl 60 1,000 60,000 Maintenance Cost
Desert Spoon 60 250 15,000 Flower arrangement Cost
Milk Pot 30 1,000 30,000
Uniform costs
Sugar Pot 30 1,000 30,000
Water Glass 800 150 120,000 Legal and Professional Charges
Juice Glass (300 ML) 80 700 56,000 Miscellaneous costs
 ` ###
###
###
###
Electricity Consumption assumptions ###
350 Working Days in Year 350###
60 Working Hours in a day 16
2 Business Hours in a day 12
30 days 1 Working Hours in a day (Ramadan) 8
40,200 Business Hours in a day (Ramadan) 6
Total working hours in a year 5,360
Total business hours in a year 4,020

60%
80% Hourly Consumption of electricity (Units) 14
90% Utilization During non-business hours 70%
Load shedding ratio in Hot 40% Marke
Load shedding ratio in Cold 10% Power
Average Ratio of Load shedding 25% Packin
1,800 Hourly Consumption of Electricity with load shedding 11 Repair
1,900 Electricity Consumption (Units) for the year 52,059 Office
2,200 1,960 Per Unit Rate 15 Insura
5% 98 Others per Unit 7 Bird w
329 Yearly Cost for Electricity 1,145,298 cost
2,387 Numb
e away 2,274 Weigh
Weigh
Generator Rent & Fuel Consumption
Monthly Rent 70,000
5% of the event cost Hours 100% 1,005
Per Hour Fuel Consumption (Liters) 10
 ` ###
###
###
Fuel Consumption (Liters) 10,050

40,000 Hours 70% 335

10,000 Per Hour Fuel Consumption (Liters) 6.5
rent occasions 105,000 Fuel Consumption (Liters) 2,178
erent occasions 70,000
200,000 Total Fuel Consumption 12,228###
775,000 Rate Per Liter of Fuel 81.4
Yearly Cost for Fuel Consumption 995,319###
Yearly Rental Cost 840,000###
Total Cost 1,835,319###
month) 15,000 ###
10,000 ###
300,000 Project financing assumptions ###
Equity % 100%###

Corporate tax rate 32%

2500 per month 30,000 ###
2000 per month 24,000 Working capital assumptions ###
5% of the initial renovation on setup cost 200,000 Account Receivable (Net sales) - ###
5,000 per month 60,000 Stocks (average) 5###
1,500 per uniform per employee (5 uniform per Creditors/ liabilities (costs) 10###
315,000
annum)
20,000 per month for PRA/FBR return filing and
other compliances like for SCEP 240,000 Cost escalation
500,000 per annum 6,000,000 Other costs 8%
Gray Structure http://teamovercs.com/2018/10/latest-construction-cost-grey-structure-2018/
Multan Fabrics Pvt Ltd.
Working of Refund Claim - For the tax year 2016

Description & Narration head wise Amount (Rs)

Export sales as per audited accounts (Including exchange gain, rebate & net off discounts) 538,809,802
Less rebate income already included in sales (2,538,691)
Total export sales 536,271,111
Local sales as per audited accounts 1,817,350
Total Sales for income tax return purpose 538,088,461
1% income tax liability (FOR ANNUAL FINANCIAL STATEMENTS PURPOSE) 5,380,885
Less Current year tax credit on non equity investment(Purchase of plant & machinery) under section 65B 577,405
Less b/f tax credit on non equity investment(Purchase of plant & machinery) under section 65B -
Total Tax credit 577,405
Tax chargable (FOR INCOME TAX RETURN PURPOSE) 4,803,480
Advane income tax as per Certificates
Advance tax on exports - UBL Abdali bank 632,479.00
Advance tax on exports - HBL Multan 4,864,354.23
tax on cash withdrawals- ubl abdali road 45,092.57
tax on cash withdrawals- HBL Multan 271,772.87
tax on cash withdrawals- ubl shah rukne alam 109,319.99
tax on cash withdrawals- Bank Alhabib multan 1,815.00
tax on cash withdrawals- Bank Alhabib Karachi 13,955.87
Advance tax on Telecom 29,540.00
tax deducted on new vehicles purchase 2,292.00
tax deducted by parties -
Total advance tax paid including tax on cash withdrawals & electricity bills 5,970,621.53

Tax refund filed as per final income tax return 2016 589,736.92
Less- tax paid at 33% on other income (Tax on taxable gain) -
Total tax refund claimed as per final income tax return 2016 (BEFORE TAX CREDIT) 589,736.92
Total tax refund claimed as per final income tax return 2016 (AFTER TAX CREDIT) 1,167,141.92

ENTRIES
These entries to be recorded on 31 Dec 2016
13-31-0106 Income tax payable 4,803,479.61
26-11-0003 Advance tax on exports - UBL Abdali bank -
26-11-0013 Advance tax on exports - HBL Multan -
26-11-0009 tax on cash withdrawals- ubl abdali road -
26-11-0014 tax on cash withdrawals- HBL Multan -
26-11-0004 tax on cash withdrawals- ubl shah rukne alam -
26-11-0012 tax on cash withdrawals- Bank Alhabib multan -
26-11-0011 tax on cash withdrawals- Bank Alhabib Karachi -
26-11-0015 tax deducted on Telecom -
26-11-0008 tax deducted on new vehicles purchase -
26-11-0016 Tax deducted by SNGPL -
26-17-0011 Excess tax receivable as per income tax return 577,405.00
26-17-0011 Excess tax receivable as per income tax return 589,736.92
30-11-0038 Taxation overheads 6,000.00
5,976,621.53
 2,538,691
540,627,152.00

IBAN NOS

0112012201037798
0012707900302603
0112147737101324
0001008104338201
1015008100531201

-
632,479.00
4,864,354.23
45,092.57
271,772.87
109,319.99
1,815.00
13,955.87
29,540.00
2,292.00
6,000.00

-
-
5,976,621.53