Xpand Advisory 2011

8/13/2019 Xpand Advisory 2011

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XPAND ADVISORY S.P.C.(A Single person Company)

MANAMA KINGDOM OF BAHRAIN

FINANCIAL STATEMENTS

31stDECEMBER, !11


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XPAND ADVISORY S.P.C., M"#"$" % K'$ * B"+"

Commercial Registration No. : 54153 - 01

Proprietor : Naelah Bhair Rashi! Al "hal!i

Registere! #$$ice : #$$ice 35% Bil!ing &44'Roa! &(31Bloc" 4&(% Al-See$P. #. Bo): &0*5+anama - ,ing!om #$ Bahrain

Ban"ers : thmaar Ban",ait /inance ose

A!itors : +oore Stephens

l 2 Saye! l-Ayoty Co%Certi$ie! Plic AccontantsP.#. Bo) : 11('*+anama 2 ,ing!om o$ Bahrain.


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I N D E X

P"'- N.

- A!itors Report 1 2 &

- Statement o$ /inancial position 3

- Statement o$ Comprehensi6e ncome 4

- Statement o$ Cash /los 5

- Notes to the /inancial Statements ' 2 *


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ADITORS/ REPORT TO THE PROPRIETORXPAND ADVISORY S.P.C.MANAMA % KINGDOM OF BAHRAIN

R-0t # t+- *"#&"2 St"t-$-#ts

7e ha6e a!ite! the /inancial Statements o$ XPAND ADVISORY S.P.C. hich comprisethe Statement o$ /inancial position at 31st 8ecemer% &011% the relate! Statement o$Comprehensi6e ncome% the Statement o$ Cash /los $or the year then en!e! an! a

smmary o$ signi$icant acconting policies an! other e)planatory notes set ot on pages93 to 9*.

B" * D&-ts -s0#s&&2&t4 * t+- *"#&"2 st"t-$-#ts

;he Boar! o$ 8irectors is responsile $or the preparation an! $air presentation o$ these$inancial statements in accor!ance ith nternational /inancial Reporting Stan!ar!s. ;hisresponsiility incl!es implementing an! maintaining internal controls rele6ant to thepreparation an! $air presentation o$ $inancial statements that are $ree $rom materialmisstatements% hether !e to $ra! or error% selecting an! applying appropriateacconting policies% an! ma"ing acconting estimates that are reasonale in thecircmstances.

A5&ts/ -s0#s&&2&t4

#r responsiility is to e)press an opinion on these $inancial statements ase! on ora!it. 7e con!cte! or a!it in accor!ance ith the nternational Stan!ar!s onA!iting. ;hose stan!ar!s re


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O0

n or opinion% the $inancial statements present $airly% in all material respects% the $inancialposition o$ the Company as at 31st8ecemer% &011 an! the reslts o$ its operations an!its cash $los $or the year then en!e! in accor!ance ith nternational /inancialReporting Stan!ar!s.

R-0t # t+- -'52"t4 -65&-$-#ts

7e ha6e otaine! all in$ormation an! e)planations hich are necessary $or the prpose

o$ the a!it an! to the est o$ or "nole!ge an! elie$% no 6iolation o$ the constittion o$the company came to or attention hich ol! materially a$$ect the Companys $inancialposition.

n a!!ition% e report that nothing has come to or attention hich cases s to elie6ethat the Company has reache! any o$ the applicale pro6ision o$ the BahrainiCommercial Companies >a No. &1 o$ &001% or o$ its Articles o$ Association hich ol!materially a$$ect its acti6ities or its $inancial position as at 31st 8ecemer% &011.

MOORE STEPHENS

EL%SAYED EL% AYOTY 7 CO.CR;/8 P?B>C ACC#?N;AN;S

M)+"$$-( E2%S+"4-3

K'$ * B"+"@th an% &013

9 &


6/13


STATEMENT OF FINANCIAL POSITION"s "t 31stD--$-, !119Amonts are e)presse! in Bahraini 8inars

Nt-s !11 !1!

ASSETSN# C5-#t "ss-tsProperty% Plant an! oan 10 --- 3%550

Sta$$ ;erminal Bene$its 3%(*1 &%(04

Tt"2 N# % C5-#t L&"&2&t&-s 3%(*1 '%354

C5-#t L&"&2&t&-s;erm >oan 10 3%550 &%'408e to Relate! Party 11 --- 4%000

Acconts an! other payales 1& 43%*1( 43@

Tt"2 C5-#t L&"&2&t&-s 4@%4'( @%0@@

Tt"2 L&"&2&t&-s 51%35* 13%431

Tt"2 P0&-t/s F5#s "# 2&"&2&t&-s !,9:3 1!;,!


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STATEMENT OF COMPREHENSIVE INCOME

F t+- 4-" -#- 31stD--$-, !119Amonts are e)presse! in Bahraini 8inars

Nt-s !11 !1!INCOMEConsltancy ncome &0&%344 &3%335Cost o$ consltancy 91&0%45& 9'%(00

Gss 0*&t (1%(*& 1'%535#ther ncome 13 5@%0&( 31%@45

13(%*&0 4(%&(0

EXPENSESeneral an! A!ministration 14 @*%4@1 '4%3318epreciation 3%*'* 4%0&1

Tt"2 ->0-#s-s (3%440 '(%35&

N-t P*&t ? (Lss)


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STATEMENT OF CASH FLOS

F t+- 4-" -#- 31stD--$-, !119Amonts are e)presse! in Bahraini 8inars

!11 !1!

O0-"t' "t&&t&-sNet Pro$it 9>oss 55%4(0 9&0%0@&A5st$-#ts88epreciation 3%*'* 4%0&1Changes in Operating Assets and Liabilities :-Acconts an! other recei6ales 11%&&4 915%'1&8e $rom Relate! Parties 9&5%&@1 1(%5338e to Relate! Party 94%000 9&5%(03Acconts an! other payales 43%4(1 9444

Sta$$ ;erminal Bene$its 1%0(@ 1%0@'

N-t "s+ *$ ? (5s- ) O0-"t' At&&t&-s (5%*@0 93(%301

I#-st' At&&t&-sAc


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NOTES TO THE FINANCIAL STATEMENTS % 31 D--$-, !11

1. ACTIVITIES8

XPAND ADVISORY S.P.Cis a single person company registere! ith the ministry o$in!stry an! Commerce n!er commercial registration no. 54153-1 !ate! &40@&004;he company is engage! in the siness o$:

i mport% )port an! sale o$ compter har!are an! systems accessories.ii +anagement an! Bsiness a!ministration consltants.iii Pro6i!ing technical an! technological a!6ice an! con!cting st!ies.i6 #rganiDing Con$erences #ccasions.6 Bro"ers eteen /oreign companies an! National /irms

. SMMARY OF SIGNIFICANT ACCONTING POLICIES8

?1. A5#t' C#-#the /inancial Statements ha6e een prepare! n!er the Eistorical CostCon6entionE an! on accral asis.

?. P0-t4, P2"#t "# E65&0$-#t8/i)e! Assets are state! at Cost >ess 8epreciation hich is pro6i!e! on Coston the EStraight >ine +etho!E at the $olloing annal rates:

- #$$ice


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NOTES TO THE FINANCIAL STATEMENTS 31stD--$-, !119Amonts are e)presse! in Bahraini 8inars

3. PROPERTY, PLANT AND EIPMENT

P"t&52"s

O**&-E65&0$-#

t

F5#&t5-"#

F&>t5-sC$05t-E65&0$-#t

Mt-+&2-s Tt"2

COSTAs at 1stan% &011 3%5@& '%135 '%(0@ 15%(50 3&%3'4A!!itions !ring the year --- --- 1%3&5 --- 1%3&5

As "t 31stD-, !11 3%5@& '%135 (%13& 15%(50 33%'(*

DEPRECIATIONAs at 1stan% &011 3%3*' 5%@(5 '%3&1 5%105 &0%'0@Charge $or the year '& &10 5&@ 3%1@0 3%*'*

As "t 31stD-, !11 3%45( 5%**5 '%(4( (%&@5 &4%5@'

NET BOOK VALEAs "t 31stD-, !11 119 19! 1,@9 ,.> 1'%44* 11%'&5


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9 @ XPAND ADVISORY S.P.C., M"#"$" % K'$ * B"+"


!11 !1!

:. BANK BALANCES

It+$"" B"#=8Crrent Accont &%*0* &*'/i)e! 8eposit *@%(3* ---K5"&t F"#- H5s-8Crrent Accont 15%31( 13%&14/i)e! 8eposit --- &0%551

11:,!:: 39,!:1

. CAPITAL

;he Capital o$ the Company is B8 50%000 9Bahraini 8inar /i$ty ;hosan!#nly !i6i!e! into 1%000 shares o$ B8. 50 each.

@. STATTORY RESERVE

?n!er the pro6isions o$ Bahrain Commercial Company >a &001 an! theArticles o$ Association% 10F o$ the Net Pro$it $or the year is trans$erre! tothe Stattory Reser6e. ;he Company may resol6e to !iscontine schtrans$ers hen the reser6e e


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9 ( XPAND ADVISORY S.P.C., M"#"$" % K'$ * B"+"


!11 !1!

11. DE TO RELATED PARTY

tech ;echnology nternational 7.>.> --- 4%000

%%% 9,!!!

1. ACCONT AND OTHER PAYABLES

;ra!e Cre!itors 3@%@@3 ---#ther Payales '%145 114

Accre! )penses --- 3&3

93,;1@ 93

13. OTHER INCOME

Ser6ice charges 53%15* 30%130nterest recei6e! &%1&' ---+iscellaneos income 1%@44 1%'15


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Xpand Advisory 2011

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