garments store financials

8/8/2019 Garments Store Financials

1/7

GARMENTS STORE

BALANCE SHEETS

Projected vs Actual

Notes

2010 2009

PKR in '000' PKR in '000'Projected Actual

ASSETS

Non-current assets

Fixed Assets 4 543 603

Current assets

Stocks 4,906 4,063

Trade debtors 2,310 1,985

Advances deposits and prepayments 240 240

Cash and bank balances 4,060 2,786

11,516 9,074

12,059 9,677

CAPITAL AND LIABILITIES

Owner's Capital

Capital account 5,944 4,259

Less drawings 360 354

5,584 3,905

Accumulated profit 2,466 2,0398,051 5,944

Current liabilities

Trade creditors 4,008 3,733

4,008 3,733

12,059 9,677

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

_____________ ___

Proprietor Dire


2/7

GARMENTS STORE

Profit and Loss Account

Projected vs Actual

Notes

2010 2009

PKR in '000' PKR in '000'

Projected Actual

Revenue 28,733 25,576

Cost of Sales 1 25,061 22,420

Gross Profit 3,672 3,156

Administration and selling expenses2

931 890Profit before tax 2,741 2,266

Income tax 274 227

Profit for the year 2,466 2,039

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

_____________

Proprietor


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GARMENTS STORE

Cash Flow Statement

Projected vs Actual

2010 2009


Projected Actual

Cash Flows From Operating Activities

Profit for the year 2,466 2,039

Adjustment for depreciation 60 67

2,527 2,106

Working capital adjustments

Less increase in stocks (843) (1,483)

Less increase in debtors (325) (1,182)

Add increase in creditors 275 3,043

Add increase in accruals - -

(893) 378

Net cash flows from operating activities 1,634 2,484

Cash Flows From Investing Activities

Net cash flows from Investing activities - -

Cash Flows From Financing ActivitiesDrawings (360) (354)

Net cash flows from financing activities (360) (354)

Net cash flows for the period 1,274 2,130

Opening Cash and Cash Equivalents 2,786 656

Closing Cash and Cash Equivalents 4,060 2,786

_____________Proprietor


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GARMENTS STORE

Notes to the Accounts

Projected vs Actual2010 2009


1 Cost of goods sold Projected Actual

Opening stock 4,063 2,580

Purchases 25,904 23,903

29,967 26,483

Closing stock 4,906 4,063

25,061 22,420

2 Administrative and selling expenses

Salaries & benefits 402 378

Utility charges 129 123

Printing and stationery 38 36

Telephone & postage 64 63

Entertainment 86 83

Traveling and conveyance 109 103

Repair & maintenance 8 6

Selling Expenses 35 31

Financial Charges - -

Depreciation 60 67

931 890

3 General

Figures have been rounded off to the nearest rupee.

_____________

Proprietor


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7 PROPERTY, PLANT & EQUIPMENT

PARTICULARS

C O S T DEPRECIATION

As at Additions/ As at 31 As at For As at 31

01 Jan (Deletions) December 01 Jan the period Adjustment December

2005 2005 2005 2005

Rupees Rupees Rupees Rupees Rupees Rupees

Lease hold improvement 11,442,613 (11,442,613) - 3,297,497 1,927,100 (5,224,597) -

Office equipment 26,058,079 (26,058,079) - 7,255,317 1,324,849 (8,580,166) -

Furniture and fixture 3,376,858 (3,376,858) - 1,945,834 179,447 (2,125,281) -

Vehicle 55,000 (55,000) - 13,750 124,375 (138,125) -

Computers 21,340,155 (21,340,155) - 13,131,116 5,808,437 (18,939,553) -

December 2005 62,272,705 (62,272,705) - 25,643,514 9,364,208 -

December 2004 29,899,812 32,372,893 62,272,705 11,274,069 14,369,445 25,643,514


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GARMENTS STORENotes to the Accounts

For the year 20094 Operating Fixed Assets

Cost Depreciation Book value

As at As at As at As at as at

July 01 Additions/ June 30 July 01 For the June 30 June 30

2008 (deletions) 2009 2008 year 2009 2009 Rate

Rupees Rupees Rupees Rupees Rupees Rupees Rupees %

in 000 in 000 in 000 in 000 in 000 in 000 in 000

Furniture and fixtures 744 - 744 74 67 141 603 10

2009 744 - 744 74 67 141 603

4 Operating Fixed Assets

Cost Depreciation Book value

As at As at As at As at as at

July 01 Additions/ June 30 July 01 For the June 30 June 30

2009 (deletions) 2010 2009 year 2010 2010 Rate

Rupees Rupees Rupees Rupees Rupees Rupees Rupees %

in 000 in 000 in 000 in 000 in 000 in 000 in 000

Furniture and fixtures 744 - 744 141 60 201 543 10

2010 744 - 744 141 60 201 543


7/7

GARMENTS STOREFinancial Analysis

20102009 2008

Current ratio

Current asset 2.87 2.43 6.20

Current liability

Liquid Ratio

Liquid Asset 1.65 1.34 2.46

Current liabilities

Debtors turnover ratio

debtors*365

29.34 28.33 17.98

sales

Creditors turnover ratio

Creditors*365

58.4 60.8 17.4

Purchase

Fixed Asset Ratio

Fixed Asset 0.02 0.04

Sale

Debt Equity Ratio

Long term debt #VALUE! #VALUE!

Paid up capital+Reserve

Gross Profit Ratio

Gross Profit 12.8 12.3 11.0

Sale

Net Profit Ratio

Net Profit 8.6 8.0 -

Sale

Return on Capital Employed

Net Profit 30.6 34.3 -

Gross Capital Employed

Interest Covered Ratio

(Profit before tax+Interest) #VALUE! #VALUE! 12.9

Interest

Stock turnover Ratio

Closing Stock 62.3 58.0 0.2

Sales

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