JSL Accounts 09-10
Transcript of JSL Accounts 09-10
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HEAD OFFICE
Phone : 880-2-9554119, 9551872
Fax : 880-2-9552989
E-mail : [email protected]
Web : www.howladaryunus.com
a)
b)
c)
Chartered AccountantsOctober 26, 2010
We also report that:
Opinion
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
we have obtained all the information and explanations which to the best of our knowledge and belief were necessary
for the purposes of our audit and made due verification thereof;
in our opinion, proper books of account as required by law have been kept by the company so far as it appearedfrom our examination of those books;
Dated : Dhaka
Howladar Yunus & Co.CAHARTERED ACCOUNTANTS
67, Dilkusha Commercial Area (2nd Floor)
Dhaka - 1000, Bangladesh
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the auditor's judgment, including the assessment of the risk of material
misstatement of the financial statements, whether due to fraud or error. In making those risk assessments; we consider
internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness
of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial
statements.
In our opinion, the financial statements present fairly, in all material respect, the financial position of Jute Spinners Limited
as at June 30, 2010 and its financial performance and its cash flows for the year ended in accordance with Bangladesh
Financial Reporting Standards (BFRSs).
AUDITORS' REPORT TO THE SHAREHOLDERS
We have audited the accompanying Financial Statement of Jute Spinners Limited, which comprise the statement of
financial position as at June 30, 2010 and the statement of comprehensive income, statement of Changes in Equity and
Statement of Cash Flows for the year then ended and a summery of significant accounting policies and other explanatory
information.
Management is responsible for the preparation and fair presentation of these financial statements in accordance with
Bangladesh Financial Reporting Standards (BFRSs), the Companies Act 1994, the Securities and Exchange Rules 1987
and other applicable laws and regulations and for such internal control as management determines is necessary to enable
the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Our responsibility is to express an opinion on these Financial Statements based on our audit. We conducted our audit in
accordance with Bangladesh Standards on Auditing (BSAs). Those standards require that we comply with relevant ethical
requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free
of material misstatement.
OF
JUTE SPINNERS LIMITED
Auditors' responsibility
Management's responsibility for the financial statement
Introduction
the statement of financial position (balance sheet) and statement of comprehensive income (profit and loss account)
dealt with by the report are in agreement with the books of accounts and returns.
HOWLADAR YUNUS & CO
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JUTE SPINNERS LIMITED
Howladar Yunus & Co
Chartered Accountants
AS AT JUNE 30, 2010
STATEMENT OF FINANCIAL POSITION
The annexed notes form an integral part of the Financial Statements.
Current Assets:
NET ASSETS:
Non - Current Assets:
Tangible Fixed Assets(At cost less accumulated depreciation)
Deferred Tax Asset
Cash and cash equivalents
Sundry debtors
Advances, deposits and pre-payments
Inventories
Accrued expenses
Creditors
Short term loansCurrent Liabilities and Provisions:
Net Current Assets
Un-claimed Dividend
Provision for Income Tax
Liabilities for other finance
Shareholders' Equity:
Share capital
Deficit
FINANCED BY:
Non-Current Liabilities
Long Term Loan
Deferred Liabilities
13,977,531
Tk.
298,249
(5,400,507)
11,879,298
1,854,842
23,403,096
6,436,750
19,721,029
3,436,750
239,832
17,000,000
236,174,104
22,483,393
5
6
54,172,040
168,096,804
53,576,585
8
3
197,565,052
7
255,895,133
19,585,582
16,261,106
56,416,282
92,640,829
205,145,196
12,966,399
12,923,988
93,323,895
92,640,829
(3,022,469)
93,323,895
11,599,493
2009 - 2010
1,188,161
793,193
238,617,917160,228,895
2008 - 2009
68,020,631
30,985,430
262,021,013
1,217,102
16,362,667 24,625,054
Notes
72,414,7052
13,778,783
9 17,000,000
Chairman
79,346,364
11
10 62,983,697
Chief Financial Officer
Tk.
Howladar Yunus & Co.Dated : October 26, 2010
Place : Dhaka
81,041,336
Chartered Accountants
4
Chief Executive Officer
As per our annexed report of even date
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381,017
9,375,503
JUTE SPINNERS LIMITED
Howladar Yunus & Co
Chartered Accountants
The annexed notes form an integral part of the Financial Statements.
TURNOVER
9,463,261 7,585,015
Current Tax
Selling & Distribution Expenses
Financila Expenses
OPERATING PROFIT
12
27,561,947
28,229,491
and Welfare funds
Provision for Worker's Profit Participation
PROFIT BEFORE WPP & WF AND TAX
Other Income
COST OF GOODS SOLD
WF AND TAX
PROFIT BEFORE OTHER INCOME, WPP &
Provision for Tax :
NET PROFIT BEFORE TAX
Deferred Tax
13
14
33,054,938
(3,000,000)
(581,080,751)
(370,751)
15
Chairman
Dated : October 26, 2010
Place : Dhaka
Howladar Yunus & Co.
9,844,278
Chartered Accountants
6,346,562
(3,436,750)
530,838,856656,836,533
2009 - 2010
STATEMENT OF COMPREHENSIVE INCOME
Notes 2008 - 2009
FOR THE YEAR ENDED 30TH JUNE, 2010
61,284,429
(469,554,427)
As per our annexed report of even date
7,415,029
7,785,780
200,765
TK.
(28,941) (258,463)
25,469,923
Chief Financial Officer
3,719,816
75,755,782
17,778,950
16
NET PROFIT (AFTER TAX) FOR THE YEAR
(468,775)
37,025,208
17
38,730,574
10,450,541
21,677,436
17,053,138
Adminstrative Expenses
GROSS PROFIT
Chief Executive Officer
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Collection from turnover and other income
Payments for costs and expenses
Interest paid on short term borrowings
Income Tax paid
Howladar Yunus & Co
JUTE SPINNERS LIMITED
2009 - 2010
STATEMENT OF CASH FLOWS
The annexed notes form an integral part of the Financial Statements.
(3,341,583) (3,378,472)
9,559,405
(22,474,998)
(12,368,844) (5,238,802)
Chairman
Howladar Yunus & Co.
CASH FLOWS FROM OPERATING ACTIVITIES
Chartered Accountants
Dated : October 26, 2010
1,061,649
(12,368,844)
707,431,530
Place : Dhaka Chartered Accountants
As per our annexed report of even date
(4,642,790)(2,856,747)
(20,798,572)
(16,130,296)
(5,238,802)
(55,762,650)40,338,479
62,907,400
(641,761,306)
560,885,500
41,905
2008 - 2009
12,923,98822,483,393Tk.
59,570,833
14,354,60712,923,988
(1,430,619)
FOR THE YEAR ENDED 30TH JUNE, 2010
(591,206,788)
Acquisition of fixed assets
CASH FLOWS FROM INVESTING ACTIVITIES
Liabilities for other finance
Dividend paid
Bank loan (Decrease)/Increase
Net Cash provided from operating activities
Net cash used in investing activities
CASH FLOWS FROM FINANCIAL ACTIVITIES
Chief Executive Officer
Increase/(Decrease) in cash & cash equivalents
Net cash Generated from financing activities
Cash and cash equivalent on closing
Cash and cash equivalent on opening
(18,410,230)
Chief Financial Officer
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Chartered Accountants
11,599,493
JUTE SPINNERS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30TH JUNE, 2010
Dividend
(3,022,469)
-
ParticularsShare
Balance on 1st July, 2009 -(5,400,507)17,000,000 11,599,493
Place : Dhaka
-
17,000,000
(3,400,000)-- (3,400,000)
Total
- 13,977,531
Chief Financial Officer
Balance on 30th June, 2009 Tk. 17,000,000 (5,400,507) -
Howladar Yunus & Co.
Earnings
Retained
Howladar Yunus & Co
Chartered Accountants
Chairman
Proposed
Capital
Short provision of Income Tax (568,524)
6,346,562-
Balance on 30th June, 2010 Tk.
-
The annexed notes form an integral part of the Financial Statements.
Dated : October 26, 2010
As per our annexed report of even date
Chief Executive Officer
6,346,562
(568,524)
Net Profit
Dividend for 2008-09
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1.0 NOTES - GENERAL
a) DISCLOSURE ON JUTE SPINNERS LIMITED
The company owns and operates a Jute Spinning mill and producing Jute Yarn and Twine.
b) COMPONENTS OF THE FINANCIAL STATEMENTS
i)
ii) Statement of Comperative Income for the year ended 30th June, 2010;iii) Statement of Cash Flows for the year ended 30th June, 2010;
iv) Statement of Changes in Equity for the year ended 30th June, 2010 and
v) Notes to the Financial Statements for the year ended 30th June, 2010.
c) ACCRUAL BASIS OF ACCOUNTING
d) COMPARATIVE INFORMATION
e) STATEMENT OF COMPLIANCE WITH LOCAL LAWS
Chartered Accountants
NOTES TO THE FINANCIAL STATEMENTS
This is a Public Limited Company registered under the Companies Act, 1913. (now Companies Act, 1994) The
Company was incorporated in Bangladesh on 26th July, 1979. The shares of the company are listed in the
Dhaka Stock Exchange Limited of Bangladesh. The mill is located at BSCIC Industrial Estate, Shiromoni,
Khulna.
JUTE SPINNERS LIMITED
FOR THE YEAR ENDED 30TH JUNE, 2010
Comparative information have been disclosed in respect of the year 2008-2009 for all numerical information in
the financial statements and also the narrative and descriptive information when it is relevant to an
understanding of the current period's financial statements.
The financial statements have been prepared, except for cash flow information under the accrual basis of
accounting.
The financial statements have been prepared in compliance with requirements of the Companies Act 1994,
Securities & Exchange Rules 1987 and other relevant local laws as applicable. The cash flow from operating
activities is computed under direct method as prescribed by the Securities and Exchange Rules, 1987.
Forming integral part of the Financial Statements
Statement of Financial Position as at 30th June, 2010;
Howladar Yunus & Co
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f)
g) STATEMENT OF MEASUREMENT BASIS
h) TAXATION
i) Current Tax :
ii) Deferred Tax :
i) REPORTING CURRENCY
j) STATEMENT OF SPECIFIC ACCOUNTING POLICIES APPLIED
i) Revenue Recognition:
Sales are recognized as and when the bill of lading is made.
ii) Fixed Assets
These are stated at historical cost less accumulated depreciation.
iii Depreciation
No depreciation is charged on land and land development.
Depreciation is charged on all other fixed assets on straight line method.
Full years depreciation is charged on additions.
The rates at which assets are depreciated per annum are given below :
01. Building and other construction
02. Plant and Machineries
03. Electric Installation
04. Office Equipment
05. Furniture and Fixture
06. Vehicles
07. Sundry Assets
The company is a publicly traded company as per income tax law. The rate of Income Tax applicable for the
company during the year under audit is 15% (SRO 206/Law/Income Tax/2008, dated 30.06.08. As per the
aforesaid SRO the rate will be effective upto June 30, 2011).
Howladar Yunus & Co
Chartered Accountants
The company calculates deferred tax during the year under review in compliance with the provisions of
Bangladesh Accounting Standard (BAS-12) Income Taxes. The companys policy of recognition of deferred
tax assets/liabilities is based on temporary differences (Taxable or deductible) between the carrying
amount(Book Value) of assets and liabilities for financial reporting purposes and its tax base, and accordingly,
deferred tax income/expense has been considered to determine net profit after tax and Earnings Per Share
(EPS).
15%
6 & 15%
7.50%
20%
25%
10%
5%
The figures in the financial statements represent Bangladesh Taka currency, which have been rounded off to the
nearest Taka except where indicated otherwise.
The financial statements have been prepared using the Historical cost basis.
STATEMENT OF COMPLIANCE WITH INTERNATIONAL ACCOUNTING STANDARDS
The financial statements have been prepared in compliance with requirements of the International Accounting
Standards (IASs) approved by the International Accounting Standards Committee (IASC) and as adopted by
the Institute of Chartered Accountants of Bangladesh (ICAB) termed as Bangladesh Accounting Standards.
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Inventories:
Inventories are valued at lower of cost and net realisable value.
Employees Benefit Costs:
Transaction in foreign currencies:
Turnover:
Turnover comprises the following:
(a) Export
(b) Subsidy (Cash Basic)
Cash and cash equivalents:
Earning Per Share (EPS):
The company calculates Earning Per Share (EPS) in accordance with IAS-33 "Earnings Per Share ".
Earnings - Basic:
Weighted Average Number of Ordinary Shares Outstanding During the year:
Earnings Per Share (EPS) - Basic:
Diluted Earnings Per Share:
Chartered Accountants
Howladar Yunus & Co
viii)
ix)
No diluted EPS is required to be calculated for the year as there was no scope for dilution during the year
under review.
Cash in hand and cash at banks have been considered as the cash and cash equivalents for the preparation ofthese financial statements which were held and available for use by the company without any restriction as
there was insignificant risk of changes in value of these current assets.
This represents the number of ordinary shares outstanding during the beginning of the year plus the number
of ordinary shares issued during the year multiplied by a time weighting factor. The time weighting factor is
the number of days the specific shares outstanding as a proportion of the total number of days in the period.
This represents earnings for the year attributable to the ordinary shareholders. As there was no preference
dividend, minority interest and extra ordinary items, the net profit has been considered as fully attributable to
the ordinary shareholders.
This has been calculated by dividing the basic earnings by the weighted average number of ordinary shares
outstanding during the year.
Foreign currencies are converted into Bangladesh Taka at the exchange rate ruling on the date of
transaction.
vii)
vi)
The Company operates an unfunded Gratuity Scheme and also a Group term Insurance scheme for its
permanent employees.
iv)
v)
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2.0
For the
year
-
5% 1,097,490
7.50% 4,734,246
10% 339,823
15% 299,534
6% & 15% 125,839
20% 1,113,870
25% 263,968
7,974,770
7,038,379
.01
Manufacturing overhead
Administrative overhead
D E P R E C I A T I O N
683,285
437,373
44,479,922
1,396,078
Depreciation charged to:
168,886,844
7,549,397
7,038,379
100,866,213
Vehicles 6,838,892
As on 30 June 2009
Sundry Assets
As on 30 June 2010
Building and Other Constructi
Howladar Yunus & Co
Chartered Accountants
TANGIBLE FIXED ASSETS - Tk. 72,414,705 :
39,992,728
ritten dow
value as on
Plant and Machineries
Electric Installation
101,320,850
3,398,231
30/06/2010
As onAs on
01/07/2009
-
Furniture and Fixture
27,069,774
9,196,929
74,220
66,037,857
40,789,886
3,414,422
Addn. during
163,648,042
2,229,436
7,981,860
Rate
30/06/2010Total
3,398,231
2,679,518
4,168,095
2010 2009
168,886,844
181,255,688
1,969,008
100,866,213
25,972,284
110,517,779
Land and Land Development
3,848,274
1,552,296
3,488,642 2,805,357
2,232,976
108,840,983 72,414,705
606,852
-
O R I G I N A L C O S T
425,373
2,002,153
3,410,901
610,392
12,368,844
5,238,802
8,391,188
2,839,828
Total Tk.
6,788,209
7,974,770
250,170
(Note 13.03)
P a r t i c u l a r s
7,981,860
797,158
(Note 14.01)
the year
Total on
Office Equipment 137,8493,710,425
-
01/07/2009
68,020,631
13,720,112
5,281,965
7,981,860
3,109,223
61,303,611
1,662,330
3,111,367
93,827,834
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3.0 DEFERRED TAX ASSET - Tk. 1,188,161 :
(a) Deferred tax assets are arrived at as follows :
Taxable Temporary Difference
Book Value of Depreciable Fixed Assets Less Land
Less : Tax Base
Net Taxable Temporary Difference
(b) Deferred Tax Expenses/(Income) is arrived at as follows :
Tk.
(c) Deferred Tax Expenses of 2009 Tk. 258,463
This represents the decrease in deferred tax asset in 2009 in comparison to 2008.
(d)
Book Value of Gratuity payable
Deductible Temporary Difference
64,432,846
(43,856,723)
Effective Tax Rate
Deferred Tax Expenses 28,941
18,459,072
(45,973,774)
Howladar Yunus & Co
Chartered Accountants
Less : Tax Base
15%
Closing Deferred Tax Asset
Opening Deferred Tax Asset
7,921,073
26,380,145
Deferred Tax Asset
22,578,540
1,475,565
1,475,565
12,741,438
(49,096,911)
2008 - 2009
60,038,772
15%
2007 - 2008
16,182,049
61,838,349
24,296,061
1,985,266
This represents the decrease in deferred tax asset in 2010 in comparison to 2009.
Deferred Tax Expenses of 2010 Tk. 28,941
258,463 509,701
9,837,102
24,296,061
- -
8,114,012
22,578,54026,380,145
2009 - 2010
1,188,161 1,217,102
1,217,102 1,475,565
1,217,1021,188,161
-
15%
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4.0 INVENTORIES - TK. 197,565,052 :
This consists of as follows:
Raw Jute
Work-in Process
Finished Goods
Stores and Spares (.01)
a) Basis of valuation is stated in Note 1(j)(iv).
.01 STORES & SPARES - TK. 10,064,352:
This consists of as follows :
5.0 ADVANCES, DEPOSITS & PRE-PAYMENTS - TK. 16,261,106 :
This is considered good and consists of as follows:
Loans & AdvancesDepositsPre-payments
.01 There are no collateral securities against loans and advances.
.02
.03
.04
.05 No amount was due by the associated undertaking.
Howladar Yunus & Co
Chartered Accountants
Electric equipment
Construction materials
Mechanical spare parts
Ball Bearing & bearing Block
Packing materials 1,024,972Printing & stationery
Work-shop materials
655,083
2008 - 2009
290,691
12,231,954
16,866,337
158,752,767
12,301
205,145,196
Loans and advances also includes an agregate sum of Tk. 9,184,247 being payment of income tax against the
assessment year 2006-2007, 2007-2008, 2008-2009, 2009-2010 & 2010-2011.
2,461,462
6,667,660
312,122
17,294,138
Loans and advances includes an aggregate sum of Tk. 3,704,089 (2009 - Tk. 2,969,100) lent out to the
employees of the company of which Tk. 1,769,280 (2009 - Tk. 1,046,280) was due from officers. Maximum
amount due from officers during the year under audit was Tk. 1,838,280 on 30-09-2009 (2009 - Tk. 1,049,735
on 31.10.2008).
12,966,399
No amount was due by the directors (including Chairman) of the company severally or jointly with any other
person.
271,126322,203
16,261,106
267,668239,203
197,565,052
67,163,575
10,064,352
Tk.
12,231,954
1,562,214
12,459,528
Miscellaneous & general stores
Fuel, lubricants & chemical
102,768,061
136,323
17,569,064
17,268
Tk.
5,956,930
196,900
2009 - 2010
563,943
348,149
21,554
15,667,777
Tk. 10,064,352
253,367
1,516,495
298,872
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6.0 SUNDRY DEBTORS - TK. 19,585,582 :
This consists of as follows :
Trade Debtors (.01)
Insurance claim receivable (.02)
01. This is considered good.
02.
7.0 CASH AND CASH EQUIVALENTS - TK. 22,483,393 :
This has been defined in the Note-1(j)(viii) above and consists of as follows:
Prime Bank Ltd. Motijheel Branch, Dhaka CD A/C. No. 0506
Prime Bank Ltd. Motijheel Branch, Dhaka CD A/C. No. 0530
8.0 SHORT TERM LOANS - TK. 160,228,895 :
This represents :
Secured Loan from Janata Bank Ltd. in:
.01 Hypothecation Account No. 37001967
.02 LTR A/C. No. 31004892
.03 Current Portion of Long Term Loans A/C. No. 37003815
9.0 SHARE CAPITAL - TK. 17,000,000
Authorized:
350,000 ordinary shares of Tk.100/- each
Issued, Subscribed and Paid-up:
170,000 ordinary shares of Tk.100/- each fully Paid-up in cash
a) The break-up of share holding is as follows:
Shares
61,555
26,629
43,030
38,786
170,000
2009 - 2010 2008 - 2009
Howladar Yunus & Co
Chartered Accountants
168,096,804Tk.
131,693
159,968,804
133,963
Tk.
151,143,792
957,103 -
Janata Bank Ltd. E.R.Q. A/C. No. 22
22,483,393
2,132,463
8,128,000
35,000,000
2009 - 2010
Shares Percentage
306,251
12,923,988
Directors
100.00%
41,691 24.52%
100.00%
ICB
40,455
26,299
General Public & Others
170,000
17,000,000
Shareholdings
.01 This loan is secured against hypothecation of stock of Raw Jute, Work-in process, Finished Goods, Stores and
Spares.
35,000,000
2,351,923
8,128,000
2008 - 2009
Percentage
160,228,895
36.21% 36.21%
17,000,000
15.66%15.47%
61,555
22.82%
11,315,452
133,963
62,605
This represents insurance claim receivable from United Insurance Co. Ltd. in respect of loss of Raw Jute,
Finished Goods and Godown burnt by fire during the year 1989-90. The company filed a Money suit against
the Insurance Company for non-payment of claim and the case is finalised by the Learned 3rd Sub-Judge Court,
Dhaka (Case No.63/91) favouring the company. But the Insurance Company filed an appeal with the High
court against the verdict.
221,819
25.31%
388,323
Tk.
3,233,793
16,351,789 16,351,789
30,985,43019,585,582
14,633,641
17,511,532
23.80%
717,394Janata Bank Ltd. Local Office, Dhaka CD A/C. No. 8909
In hand
Financial Institutions
Janata Bank Ltd. Khulna Corporate Branch CD A/C. No.0732
With Bank in:
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.03 MANUFACTURING OVERHEAD - TK. 115,774,500 :
This consists of as follows :
a) Salary, wages and allowances includes the following :
Bonus
Gratuity
b) Category-wise information in respect of salary/wages of employees/workers:
Tk. 3,000 and above
14.
This consists of as follows :
Directors' remunerationSalary and allowances
Printing and stationery
Depreciation
Travelling and conveyance
Telephone, fax, postage & e-mail
Entertainment
Car maintenance
Licence renewal fees etc.
Audit fees (Statutory) including VAT
Cost Audit Fees
Advertisement
AGM ExpensesRent, rates and taxes
Group Insurance Premium
Computer expenses
Repairs and maintenance
Utilities
Training Expenses
Welfare expenses
Tk.
Chartered Accountants
Howladar Yunus & Co
Rent, rates and taxes
Entertainment
Telephone, fax, postage & e-mail
Travelling and conveyance
Welfare expenses
Insurance
Power and fuel
Utilities
Below Tk. 3,000
Salary, wages, allowances etc. 68,890,097
2009 - 2010
63,328,562
15,758,119
15,942,623
441,470
6,788,209
2,369,017 2,213,854
17,373,486
144,792
321,824
1,270 Nos
106,380,425
2,402,172
123,231
551,409
173,175
256,251
81,394
77,300
269,531
346,843
-
212,798
97,016
784,220
296,667
241,909
429,941
244,026
203,684
300,159
512,111
165,195
217,981
101,425
357,395
Spare's Consumed & repairs
Stores carrying
Printing and stationery
2008 - 2009
12,000
587,024
159,596
Depreciation
Handling and carrying
506,656
16,819,093
50,000
225,650
7,549,397
448,808
160 Nos
263,437
264,719
Tk. 115,774,500
255,512
83,600
1,253 Nos
2,520,000
2,756,268
17,778,950
4,267,9565,412,464
156 Nos
394,611
ADMINISTRATIVE EXPENSES - TK. 21,677,436:
21,677,436
234,000
202,824
57,475
50,000
137,560
147,276
488,052
232,952
739,413
969,319
5,046,904
7,461,045
301,115
250,170
3,050,649
2,520,0009,190,462
350,905
425,373
15
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a) Salary and allowances include the following :
Bonus
Gratuity
b) Category-wise information in respect of Salary of employees:
4 Nos.
38 Nos.
15.
This consists of as follows :
16.
This consists of as follows :
17. OTHER INCOME - TK. 381,017 :
This consists of as follows :
Sale of various rejected goods
18. EARNINGS PER SHARE (EPS) - Basis
EPS and it's components have been defined in note 1(j)(ix).
The computation of EPS is given below:
a) Earning attributable to the ordinary shares
b) Weighted average number of ordinary shares
outstanding during the year
c) EPS - Basic 21.88
Tk.
1,077,549
3,527,302
29,430
19,696,048
Tk.
Interest on Cash Credit (Hypo)
10,450,541
21,613,323
32,220
2,026,155
-
17,053,138
191,662
66,500
1,102,524
25,469,923
200,765381,017
926,526
3,498,285
Inland freight
3,719,8166,346,562
908,381
37.33
170,000
Tk.
170,000
C&F expenses
FCC and collection expenses
Tk.
4,014,556
Truck hire on export of finished goods
467,518
Custom & Excise
VAT on P.O. commission
Bank & other charges
Interest on Cash Credit (Blocked) A/C
Govt. Revenue on export
Marine Insurance 380,574
861,675
624,797
Int.on Profit Participation Fund
63,101
381,017
27,561,947
Tk.
1,009,292
Overdue interest
7,718,418
Below Tk. 3,000
1,834,372
2,040,736
Tk. 3,000 and above
Howladar Yunus & Co
659,376
511,108
38 Nos
4,482,320
1,396,332
3 Nos
1,137,615
2008 - 2009
Chartered Accountants
827,100
630,480
FINANCIAL EXPENSES - TK. 27,561,947 :
SELLING & DISTRIBUTION EXPENSES - TK. 17,053,138 :
2009 - 2010
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19. PAYMENT/PERQUISITES TO DIRECTORS & OFFICERS
a)
Basic
BonusHouse Rent allowance
Conveyance allowance
Medical allowance
Allowance
b)
20. PRODUCTION CAPACITY & ACTUAL PRODUCTION
Reason of short fall i) Power failure.
ii) Light Count production
21. CAPITAL EXPENDITURE COMMITMENT
a) There is no capital expenditure contracted but not incurred or provided for at 30th June, 2010.
b)
22. There was no sum for which the company is contingently liable as on 30th June, 2010.
23.
24.
25. There were no non-resident shareholders.
26. FOREIGN EXCHANGE EARNING
The company earned Tk. 645,541,204 in foreign currency through export.
27. PROPOSED DIVIDEND - Tk. 3,400,000
28.
Chairman
10,605.00 MT
2009 - 2010
Officers'
1,560,000
283,392
330,852
1,719,600
-
459,200
3,523,200
The aggregate amount paid/provided during the year in respect of Directors and Officers are disclosed
below:
MT
Howladar Yunus & Co
Production Capacity 10,605.00 MT
2008 - 2009
240,000
Particulars
1,548,000
267,735
-
720,000
-
-
720,000
204,492
No payments have been made in foreign currency for royalty, technical experts and professional advisory fee,
interest etc.
9,783.72 MTActual Production
Net Operating Cash Flow Per Share (NOCFPS) is Tk. 237.29
There were no credit facilities available to the company under any contract, other than trade credit available in the
ordinary course of business and not availed of as on 30.06.2010.
9,190.16 MT
2009 - 2010
MT
-
Chief Financial Officer
The rate of Board meeting attendance fees is Tk.100/- per Director per meeting but no such amount was
drawn by any director of the company during the year under review.
240,000
This represents dividend of Tk. 20/= (twenty) per share recommended by the Board of Directors subject to the
approval of the Share Holders in the annual general meeting.
There was no material capital expenditure authorized by the Board but not contracted for at 30th June, 2010.
-
456,000- -
Officers'Directors'
3,120,000
Particulars2008 - 2009
Directors'
Chartered Accountants
1,560,000
Chief Executive Officer