Mohammad Ata Karim & Co.

Chartered Accountants

CATHARSIS TRAVELS LTD

Statement of Financial Position
As at 30 June 2017
2017 2016
Notes Taka Taka
ASSETS
Non-current assets 582,907 605,300
Property,
Intangibleplant
assets& equipments 5
#REF! 582,907 605,300

Current assets 1,425,630 774,704

Advance, Deposit and prepayment 6 104,165 77,560
Accounts Receiveable 7 31,057 33,070
Cash and cash equivalents 8 1,290,408 664,074
TOTAL ASSETS 2,008,536 1,380,004

EQUITY AND LIABILITIES

Shareholders' equity 1,314,595 1,089,153
Share capital 9 1,000,000 1,000,000
Retained earnings 10 314,595 89,153

Current liabilities 682,691 290,851

Provision for income tax 11 169,398 48,006
Trade Payable 12 161,988 139,570
Provision for expenses 13 351,306 103,275
TOTAL EQUITY AND LIABILITIES 1,997,286 1,380,004

(11,250)

Signed in terms of our separate report of even date annexed

Director Managing Director

Dhaka
Date: Chartered Accountants

2
 Mohammad Ata Karim & Co.
Chartered Accountants

CATHARSIS TRAVELS LTD

Statement of Profit or Loss and Other Comprehensive Income
For the year ended 30 June 2017

Particulars Notes 2017 2016

Taka Taka
Income:
Revenue 51,875,060 30,334,000
Less: Cost of Sales/services 43,834,426 26,241,121
Operation profit 8,040,634 4,092,879

Selling & Administrative expenses 14 7,693,801 3,955,720

Net profit before tax 346,833 137,159
Less: Income tax provision 121,392 48,006
Net profit/(loss) after tax 225,441 89,153

Signed in terms of our separate report of even date annexed

Director Managing Director

Dhaka
Date: Chartered Accountants

3
 CATHARSIS INTERNATIONAL LTD
Statement of Changes in Equity
For the period ended June 30, 2013

Share Retained
capital earnings Total
Particulars Taka Taka Taka

Balance at 31 December 2011 30,000,000 (2,228,312) 12,771,688

Net profit for the year - 899,972 899,972
Balance at 31 December 2012 30,000,000 (1,328,340) 13,671,660
Net profit for the year - #REF! #REF!
Balance at 31 December 2013 30,000,000 #REF! #REF!
Net profit for the period #REF! #REF!
Balance at 31st March 2014 15,000,000.00 #REF! #REF!
 Catharsis International Ltd.
Statements of Cash flow
For the year ended 30 June 2011
Particulars 30 June 2014
Taka
Cash flow from operating activities:

Cash received from customet W-1 #REF!

Cash received from other income W-2 #REF!
Cash paid to cost of revenue W-3 #REF!
Cash paid against operating expense W-4 #REF!
Cash paid against advance income tax W-5 (197,685)
A. Net cash flow from operating activities #REF!
###

Cash flow from investing activities:

Investment on FDR -
Property, Plant & Equipment #REF!
B. Net cash Flow from investing activities #REF!

Cash flow from financing activities:

Share capital #REF!
Loan from catharsis international #REF!
#REF!
###
Net Increase in Cash and Cash Equivalents (A+B+C) #REF!
###
Opening Cash and Cash Equivalents -
Closing Cash and Cash Equivalents ###

The annexed notes 1 to 15 form an integral part of these financial statements.

Managing Director Director General Manager

Auditor's Report
As per our annexed report of our same date

Hoque Bhattacharjee Das & Co.

Dhaka Chartered Accountants
Workings:
1 Cash received from customer
Revenue income for the year #REF!
Add. Opening balance of account receivable -
#REF!
###
Less. Closing balance of accounts receivable -
#REF!
###

2 Other income received #REF!

3 Cash paid against cost of service

Cost of service expense #REF!
Less. Depreciation expense -
#REF!
Add. Opening account payable -
#REF!
Less. Closing account payable -
#REF!
Add.Closing balance advance and others -
#REF!
Less. Opening balance advance and others #REF!
#REF!

4 Cash paid against operating expense

Operating expense #REF!
Less. Depreciation expense #REF!
#REF!

Add. Closing provission for exp. -

#REF!
Less. Opening Provission for exp. -
#REF!
5 Advance Income tax
Source Income Tax 194000
National Bank (A/c-446) 1,179
Mutual Trust Bank (A/c-568) 2,506
197,685
 Mohammad Ata Karim & Co.
Chartered Accountants

CATHARSIS TRAVELS LTD

Statement of Changes in Equity
As at 30 June 2017

Share capital Retained earnings Total

Particulars
Taka Taka Taka

Opening Balance as 1,000,000 89,153 1,089,153

Share capital
Share money deposits -
Net profit during the year 225,441 225,441
Balance as at 30 June 2017 1,000,000
### 314,594 1,314,594

Share capital Retained earnings Total

Particulars
Taka Taka Taka

Balance as at 15 October 2015 ### -

Share capital 1,000,000 1,000,000
Share money deposits
Net profit during the year 89,153 89,153
Balance as at 30 June 2016 1,000,000
### 89,153 1,089,153

Signed in terms of our separate report of even date annexed

Director Managing Director

Dhaka
Date: Chartered Accountants

4
 Mohammad Ata Karim & Co.
Chartered Accountants

CATHARSIS TRAVELS LTD

Statement of Cash Flows
For the year ended 30 June 2017

Particulars 30-Jun-2017 30-Jun-2016

Taka Taka
Cash flow from operating activities:
Cash received from customer 51,877,073 30,300,930
Cash paid to service providers (43,695,845) (26,303,131)
Cash paid against operating expense (7,751,140) (3,712,615)
A. Net cash flow from operating activities 430,088 409,204

Cash flow from investing activities:

Property, Plant & Equipment (112,000) (745,130)
B. Net cash Flow from investing activities (112,000) (745,130)

Cash flow from financing activities:

Share capital - 1,000,000
C. Net cash Flow from financing activities - 1,000,000

Net Increase in Cash and Cash Equivalents (A+B+C) 318,088 664,074

Opening Cash and Cash Equivalents 664,074 -
Closing Cash and Cash Equivalents 982,162 664,074

Director Managing Director

As per our annexed report of our same date

Dhaka
Date: Chartered Accountants

5
 Mohammad Ata Karim & Co.
Chartered Accountants

CATHARSIS TRAVELS LIMITED

Notes to the financial statements
As at June 30, 2017

1 Background

Catharsis Travels Limited was incorporated as private company limited by shares on 15

October 2015 under the Companies Act, 1994. The registered office located at House-11,
Road-22, Block-K, Banani, Dhaka vide registration no-C-126193/15.

2 Nature of business

Catharsis Travels Ltd. Is a Travels and Tourism Agency and Business of VISA Processing
Ticketing by bus by Train by air and others way and consulting the same.

3 Summary of significant accounting policies

3.1 Basis of accounting

These financial statements have been prepared under historical cost convention and in
accordance with Bangladesh Accounting Standards (BAS) and Bangladesh Financial
Reporting Standards (BFRS) after due compliance of the Companies Act 1994 and other
applicable laws and regulations.

3.2 Property, plant & equipment (PPE)

Property, plant and equipment are stated at cost less accumulated depreciation. Cost
includes expenditure directly attributable to the acquisition and installation of the assets.
Repairs and maintenance expenses are charged against revenue when incurred.

3.3 Depreciation
Depreciation has been charged whole year on all fixed assets acquired. Depreciation is
charged on additions to PPE from the year of acquisition and no depreciation is charged on
assets in the year of disposal.

6
 Mohammad Ata Karim & Co.
Chartered Accountants

3.4 Intangible assets

i) Recognition

Website cost is capitalized expecting its future economic benefits. All upgrading and
enhancements costs are generally charged off as revenue expenditure unless they bring
similar significant benefits in the long term.
ii) Amortization

Website cost is amortized using the straight-line method over their useful lives of five
years.

3.5 Revenue recognition

Revenue is recognized when invoice is raised against service rendered to clients.

3.6 Taxation

Income tax provision has been made as per the Finance Act and charged to income
statement.

4 General
i) Figures appearing in these financial statements have been rounded off to the nearest
Taka; and

ii) Figures related to previous period have been rearranged wherever considered necessary
to conform with current year's presentation.

7
 Mohammad Ata Karim & Co.
Chartered Accountants

Amount in Taka
5 Property, plant and equipment

Cost Depreciation

Particulars Opening Additions Closing Balance Opening Charged Closing Balance Written Down
Disposal / Rate Disposal/
balance during the as on balance during the as on
adjustments % adjustments Value as on
as on 01.07.2016 year 30.06.2017 as on 01.07.2016 year 30.06.2017 30.06.2017
(Taka)
Land & Land Development - - - - - - - - - -
Furniture 183,920 25,000 - 208,920 15% 27,588 27,200 - 54,788 154,132
Air Conditioner 258,059 87,000 - 345,059 20% 51,612 58,689 - 110,301 234,758
Electrical equipments 254,251 - - 254,251 20% 50,850 40,680 - 91,530 162,721
Computer & Accessories 48,900 - - 48,900 20% 9,780 7,824 - 17,604 31,296
As on 30 June 2017 745,130 112,000 - 857,130 139,830 134,393 - 274,223 582,907
As on 30 June 2016 - 745,130 - 745,130 - 139,830 - 139,830 605,300

8
 Mohammad Ata Karim & Co.
Chartered Accountants

2017 2016
Taka Taka
6 Advance, Deposit and prepayment
Opening balance 77,560 -
Add: Addition during the period 152,450 189,600
230,010 189,600
Less: Adjustment during the period 125,845 112,040
Closing balance 104,165 77,560

7 Accounts Receivable
Opening balance 33,070 -
Add: Addition during the period 1,252,242 247,590
1,285,312 247,590
Less: Adjustment during the period 1,254,255 214,520
Closing balance 31,057 33,070

8 Cash and cash equivalents

Cash in hand 24,526 25,780

Cash at bank 1,265,882 638,294
1,290,408 664,074

City Bank Ltd. -A/C-778001 1,265,882 638,294

1,265,882 638,294
9 Authorized share capital

1,00,000 ordinary shares of Taka 100 each 10,000,000 10,000,000

9.1 Issued, subscribed and paid-up share capital

10,000 ordinary shares of Taka 100 each fully paid up 1,000,000 1,000,000

9.2 Composition of paid - up share capital

Name of shareholders No. of 2017 2016

% of Holding
shares Taka Taka
Mohammed Ruhul Amin 5,100 51% 510,000 510,000
Lutfun Nessa Shelly 2,500 25% 250,000 250,000
Mohammed UL Mohasew 2,400 24% 240,000 240,000
10,000 100% 1,000,000 1,000,000

9
 Mohammad Ata Karim & Co.
Chartered Accountants

10 Retained Earnings

Opening Balance 89,153 -

Add: Profit during the period 225,441 89,153
314,595 89,153
Less. Issue of bonus share/transfer - -
Closing balance 314,595 89,153
11 Income tax provision
Opening Balance 48,006 -
Add: provision during the period 121,392 48,006
169,398 48,006
Less: Adjustment during the period - -
169,398 48,006
12 Trade Payable
Opening Balance 139,570 -
Add: Addition during the year 124,963 164,995
264,533 164,995
Less: Adjusted during the year 102,545 25,425
161,988 139,570

13 Provision for expenses

Salaries & Allowances 328,989 85,400
Telephone, Mobile 7,317 2,875
Audit fee 15,000 15,000
Total 351,306 103,275

14 Selling & Administrative expenses

Salaries and allowances 5,773,334 2,974,560
Utilities and service charges 474,120 169,120
Printing and stationery 313,985 113,985
Telephone, Mobile & Internet Bill 87,802 33,150
Office maintenance expenses 363,745 137,433
Oil and lubricants 36,888 29,875
Electric maintenance expenses 94,890 135,420
Postage & courier 93,110 102,580
Audit fees 20,000 20,000
Travelling & conveyance 150,230 35,230
Bank Charge 4,720 1,552
Entertainment 116,483 54,335
Donation & subscriptions 30,101 8,650
Depreciation Expense 134,393 139,830
7,693,801 3,955,720

10
 Catharsis International Ltd
House-11, RD-22 Block B, Banani Dhaka

Receipt Payment
Particurs Particuars

Date Date Clearance Repair & Telephon

Loan from Cathersis Interest Ruhul Cathersis Donation & Printing & Electric SPL Surma Uttara Oil & Business Ticket Training Visa Wage Baira Bank
Revenue Total FDR AIT Compute Salary Rent exp. Conveyan Banusser fee Advertis Utilities ID Card Entertain Maintena Incentive Rent Legal fee e, Mobile Hotel rent Tax
Catharsis int. Travel income Amin Travel Donation Stationary bill Tower Tower Tower Lubricant Promotion expense cost processing earner fee charge
r ce ee Tower (stamp ement ment nce & Internet
charge) bil

17.7.10 17,276,636 17,276,636 18.7.10 16,700,000

26.07.10 - 02.08.10 50 380 6,030 550 4,200 157,810 7,240 3,600 9,000 900 46
03.10.10 700,000 700,000 03.08.10 141,300 63,700 3,600 7,200 18,000 1,800 92
04.10.10 690,000 690,000 01.09.10 201,700 63,700
05.10.10 740,000 740,000 03.10.10 141,300 63,700
06.10.10 1,180,000 1,180,000
07.10.10 200,000 200,000
20.10.10 8,000 8,000
26.10.10 845,000 845,000
28.10.10 540,000 540,000
01.11.10 100,000 100,000 01.11.10 490,000
06.11.10 533,700 533,700 03.11.10 5,000 141,300 63,700 15,200 25,763 3,200 1,800 3,600 9,000 900 46
- 04.11.10 500 1,500 309
- 06.11.10 1,020 20,000 250 216,200 573,700
- 07.11.10 5,000
- 07.11.10 1,250 1,600 3,200 8,000 800 46
- 08.11.10 16,000 3,430
- 09.11.10 32,100 7,220 560 254,000
10.11.10 35,400 35,400 10.11.10 10,000 35,400
- 10.11.10 350 1,940 50 690 400 800 2,000 200 46
11.11.10 358,000 358,000 11.11.10 240,000 54,900 330 150 13,400 612 598,000
13.11.10 19,700 19,700 13.11.10 10,000 1,200 23,220 54,677 19,700
- 14.11.10 125,000 2,000 31,653 5,555 2,750 300 270
- 21.11.10 5,000 45,766
- 22.11.10 100 5,950 500
- 24.11.10 70 8,490 2,750 3,745 6,999 1,600 3,200 8,000 800 46
- 25.11.10 9,000 360 550 2,750 360
- 28.11.10 885 28,180 33,067 1,575 2,700 15,736 600,000 575
29.11.10 194,700 194,700 29.11.10 210,000 318 37,055 4,070 196,800 3,200 6,400 16,000 1,600 92
- 30.11.10 900 666 2,950 220 1,144 1,600 3,200 8,000 800 46
TotAL 23,421,136 Total
06.12.10 141,300 63,700 8,250
08.12.10 1,700 2,730 660 116,200 3,200 6,400 16,000 1,600 92
09.12.10 247,800 247,800 09.12.10 10,000 247,800 6,000 15,000 1,500 46
- 11.12.10 1,000 575 300
12.12.10 - 12.12.10 40,000 17,695 1,360 690
13.12.10 103,800 103,800 13.12.10 2,700 5,940 103,800
- 14.12.10 1,450 480 4,140
- 15.12.10 110 8,900
- 18.12.10 1,120 4,746 2,820 2,811
- 19.12.10 13,530 6,870 9,200 23,000 2,300 92
- 20.12.10 730 5,850 3,750 6,000 15,000 1,500 46
21.12.10 35,600 35,600 21.12.10 400 5,067 35,600
22.12.10 3,800 3,688 3,750 6,000 15,000 1,500 40
23.12.10 27,000 140 670 885
26.12.10 2,730 110 6,295 3,750 6,000 15,000 1,500 46
27.12.10 2,500 4,000 10,000 1,000 46
30.12.1o 11,788 11,788 30.12.10 1,179 5,875
398,988

31.01.11 890,000 890,000

- 06.02.11 189,000 100,000 2,250 3,600 9,000 900 46
- 08.02.11 32,500
- 09.02.11 282,600 127,400 440 285,300 1,000 1,600 4,000 400 46
- 10.01.11 185,500
- 14.02.11
- 15.02.11 8,341 5,575 6,664
- 17.02.11 187,500
19.05.11
- 20.02.11 2,658 36,500 810
22.02.11 14,920 14,920 22.02.11 50,000 10,400 525 5,730 14,920 750 1,200 3,000 300 46
- 23.02.11 200
27.02.11 89,474 89,474 27.02.11 600 515 3,350 89,474
- 28.02.11 25,000 3,750
-
01.03.11 111,426 111,426 01.03.11 50,000 1,300 4,600 985 458 3,200 5,896
- 03.03.11 150,800 63,700 2,750
-
-
- 06.03.11 1,100 440 300 1,250 2,000 5,000 500 46
- 07.03.11 8,500 4,894 2,015 1,100 21,700
- 09.03.11 1,260 4,135 2,000 50,000
- 10.03.11 1,500 2,740 2,850 7,280 60,000
- 13.0.11 210,000 8,277 2,500 7,579 6,380 8,201 3,750 6,000 15,000 1,500 46
14.03.11 98,212 98,212 14.03.11 1,350 4,620 3,960 98,212 7,000 11,200 28,000 2,800 46
- 15.03.11 1,760
- 16.03.11 3,750 2,420 6,750 10,800 27,000 2,700 46
22.03.11 1,120,000 1,120,000 22.03.11 200,000 2,900 12,629 440 7,221 7,000 11,200 28,000 2,800 46
- 24.03.11 3,350 110
- 27.03.11
-
2,324,032

20.04.11 1,532
21.04.11 1,750,000 1,750,000 21.04.11 15,900
-
-
08.05.11 - 08.05.11 1,000,000 184,000 750 1,200 3,000 300 46
-
09.05.11 1,100,000 1,100,000 15.05.11 3,034 22,849 4,620 2,700 330 5,913 3,500 5,600 14,000 1,400 46
16.05.11 276,000 276,000 16.05.11 20,000 300,000 180 1,100 276,000
18.05.11 294,500 294,500 18.05.11 1,420 1,840 200 300 294,500 2,750 4,400 11,000 1,100 46
22.05.11 600,000 600,000
- 22.05.11 7,766 2,000 3,200 8,000 800 46
- 23.05.11 1,200 220 1,000 2,050
25.05.11 75,200 75,200 25.05.11 1,100 75,000 50,000 7,500 12,000 30,000 3,000 46
- 28.05.11 305,087 127,400 160 2,800 3,410
29.05.11 398,600 398,600 29.05.11 3,330 917 398,600 7,500 12,000 30,000 3,000 46
- 30.05.11 400,000 2,250 1,450
30.05.11 50,000 50,000

4,544,300

- 01.06.11 3,450 220 48 1,000 4,250 6,800 17,000 1,700 46

- 02.06.11 2,850 3,500
- 04.06.11 158,120 63,700 2,800 16,900 38,000
05.06.11 1,225,000 1,225,000 05.06.11 7,250 11,600 29,000 2,900 46
06.06.11 325,000 325,000 07.06.11 450 1,540 3,750 6,000 15,000 1,500 46
- 08.06.11 1,650 200 1,250 2,000 5,000 500 46
- 09.06.11 26,788 977 300
- 13.06.11 150 2,850 20,000
- 14.06.11 20,000
16.06.11 800,000 800,000 16.06.11 25,000
18.06.11 113,400 113,400 18.06.11 50 205 3,380 1,464 113,400
20.06.11 130,000 130,000 22.06.11 2,850 737
- 26.06.11 575
2,593,400
17,326,636 12,943,000 3,000,432 11,788 - 33,281,856 16,700,000 1,179 12,250 243,000 3,100,000 1,718,407 700,700 96,600 31,033 110,733 47,311 169,148 39,288 113,843 - 11,330 76,520 25,150 45,156 59,090 66,672 38,315 521,400 - 10,000 93,769 1,056,400 3,889,186 520,810 5,896 122,310 187,200 468,309 46,800 10,253
-
 Catharsis International Ltd
House-11, RD-22 Block B, Banani Dhaka

Receipt Payment
Particurs Particuars

Date Date Clearance Repair & Telephon

Loan from Cathersis Interest Ruhul Cathersis Donation & Printing & Electric SPL Surma Uttara Oil & Business Ticket Training Visa Wage Baira Bank
Revenue Total FDR AIT Compute Salary Rent exp. Conveyan Banusser fee Advertis Utilities ID Card Entertain Maintena Incentive Rent Legal fee e, Mobile Hotel rent Tax
Catharsis int. Travel income Amin Travel Donation Stationary bill Tower Tower Tower Lubricant Promotion expense cost processing earner fee charge
r ce ee Tower (stamp ement ment nce & Internet
charge) bil
26.07.10 5,000 5,000
26.07.10 2,829,328 2,829,328
-
- 12.08.10 115
11.10.10 53,100 53,100 10.10.10 175,000 1,170 1,000,000 233,665 1,200 2,400 6,000 600 46
-
- 14.10.10 3,450
-
16.10.10 35,400 35,400 16.10.10 3,143 35,400
- 19.10.10 220,000 16,784 10,200 17,294 1,333
-
-
- 24.10.10 600,000 205,200 600 1,200 3,000 300 69
- 27.10.10 3,200 3,200 8,000 800 46
06.10.10 188,100 188,100 06.11.10 188,100
-
-

04.11.10
06.11.10
06.11.10 216,200

3,110,928

30.12.10 25,058 25,058 30.12.10 2,506 1,575

-
-
- 23.02.11 140,000
-
10.04.11 70,069 70,069
-
30.06.11 1,597 1,597 30.06.11 735
-
-
-
-
-
-
-
96,724
2,899,397 5,000 276,600 26,655 - 3,207,652 - 2,506 - - 395,000 - - - - 16,784 11,370 - - - - - 3,450 - 20,437 - 1,333 - 216,200 - - - 1,740,000 662,365 - - 5,000 6,800 17,000 1,700 2,586
 Attachment - 'A'

B.J. TRADING LIMITED

TIN: 139535166384
Income tax assessment year 2016-17
For the Accounting year ended 31 December 2015

Tax depreciation Schedule

S.I. Assets WDV as at Additions Disposals Total Depreciation WDV as at

No. 1-Jan-15 during during 31-Dec-15 Rate Total 31-Dec-15
the year the year Normal Initial Normal Initial
Taka Taka Taka Taka % % Taka Taka Taka Taka
1 Furnuture and Fixture 267,444 25,000 - 292,444 10% 0% 29,244 - 29,244 263,200
2 Computer 1,545,700 87,000 1,632,700 15% 0% 244,905 - 244,905 1,387,795
3 Office Decoration 76,764 - 76,764 10% 0% 7,676 7,676 69,088
4 Office Equipment 2,420,248 - 2,420,248 20% 0% 484,050 - 484,050 1,936,198
5 VOIP Machine 102,912 102,912 20% 0% 20,582 20,582 82,330
Total 4,413,068 112,000 - 4,525,068 786,458 - 786,458 3,738,610