01 SKDM Draft_recasted balance_sheet_21.11.2012.xlsx

1

Super Knitting & Dyeing Mills LimitedRestated Balance Sheet

As at 31 July 2012

Assets Note

Fixed Assets at Cost 2 410,614,877 380,769,974 (29,844,903)Less: Accumulated depreciation 233,481,602 216,511,355 (16,970,247)

177,133,276 164,258,619 (12,874,656)

Investment in sister concerns 3 37,460,538 37,460,538 -

Total non-current assets 214,593,813 201,719,157 (12,874,656)

Store & Stock 4 114,426,315 109,446,351 (4,979,964)Advance, Deposit & Prepayments 5 42,709,620 41,617,975 (1,091,645)Trade Debtors 6 212,020,643 198,794,939 (13,225,704)Cash, Bank Balance 7 10,375,100 10,375,100 - Total current assets 379,531,678 360,234,365 (19,297,313)Total Assets 594,125,491 561,953,522 (32,171,970)

Share holders' fund:Paid up Capital 500,000 500,000 - Retained Earnings 1 (116,883,418) (146,923,261) (30,039,844)Total Share holders' fund (116,383,418) (146,423,261) (30,039,844)

LiabilitiesLoan from Directors 8 64,296,679 64,296,679 - Long Term bank Loan 9 119,628,825 119,628,825 - Short Term bank loan 10 311,852,241 311,852,241 - Inter Company current account 30,732,128 30,732,128 - Due to Super Thread Limited 108,952,754 108,952,754 - Total non-current liabilities 635,462,627 635,462,627 -

- Liability for Goods Supply 11 17,767,962 19,559,650 1,791,688 Liability for Expenses 11 47,710,811 46,468,206 (1,242,606)Liability for Other Finance 11 9,567,509 6,886,301 (2,681,208)Total current liabilities 75,046,282 72,914,156 (2,132,126)

Total shareholders' fund & Liabilities 594,125,491.44 561,953,521.74 (32,171,969.70)

Amount as per management

accounts (Taka)Rested Amount

( Taka )Difference Increase/ (Decrease)

2

Super Knitting & Dyeing Mills Limited

1 Statement of Re-adjusted Retained Earnings:

As on 31 July 2012

Particulars Note

Retained earning as per book

Retained Earning would Decrease for the following items:

Allowance for bad or unrecoverable advances 5.2Allowances for "Debtors under litigation" - 50% 6.2Allowance for Bad or doubtful Debts 6.3Adjustment for disposal of Plant, Machinery & Equipments 2Provision for Stock & Stores - obsolete and short quantity 4Decrease in retained earnings

Retained Earning would Increase for the following items:

Inappropriate treatment of Exchange Gain in Debtors 6.4Trading liability held more than 3 years added back as income 11.2U/s 19(15)Increase in retained earnings

Adjusted Retianed Earnings

3

Amount (Taka)

(116,883,418)

(1,091,645) (7,432,759) (10,247,679) (12,874,656) (4,979,965) (36,626,704)

2,037,736 4,549,124

6,586,860

(146,923,261)

4

2 Fixed Assets - at cost less depreciation Taka Amount (Taka)

Particulars

Land & Land Development 3,035,149 3,035,149 - 0 3,035,149

Buildings and other Civil Constructions 81,664,098

81,664,098 30,280,953 30,280,953 51,383,145

Plant, Machineries and Equipments 274,332,942 29,844,903 244,488,039 176,608,282 16,970,247 159,638,035 84,850,004

Vehicles 5,254,341 5,254,341 2,690,625 2,690,625 2,563,716

Other Fixed Assets 46,328,347 46,328,347 23,901,741 23,901,741 22,426,606

Total 410,614,877 29,844,903 380,769,974 233,481,602 16,970,247 216,511,355 164,258,619

Total cost as per book 410,614,877Less: Accumulated depreciation as per book 233,481,602WDV as per book 177,133,276Less: adjustment for cost of plant & machinery disposed 29,844,903

147,288,373Add: adjument for accumulated deprecition on plant and machinery disposed 16,970,247Restated WDV 164,258,619

2.1

2.1.1 Buildings and Civil Constructions

Particulars Area (Sft)Two storied Steel Building 43,758 Godown 8,178 Five storied RCC Building 114,400 Other Civil Constructions

2.1.2 Plant, Machineries and Equipments

Particularsknitting SectionDying SectionFinishing SectionPrinting SectionGeneratorsLaboratory SectionUtility SectionGarments SectionLocal MachiriesOthers

Detail list of machineries shown in annexure - 1

Cost as at 31.07.2012

Disposal since inception

Adjusted Cost as on 31.07.2012

Depreciation Charged up to 31.07.2012

Depreciation on disposal

Accumulated Adjusted Depreciation as on

31.07.2012Written down value as at

31.07.2012

We have verfied the physical existance of fixed assets as per list provided by the management. We found all the assets exist as per list. We could not verify the item wise

cost of fixed assets for want of propoer supporting documents and accordingly figures provided by the by the Management have been considered in the restated Balance

Sheet.

5

Reportedly the following machineries have not been used in production for long time :

Particulars QtyCircular Knitting M/c 16"X24GX48F 1 set

Circular Knitting M/c 22"X24GX66F 1 set










Thermo Boiler 1 set

2.1.3 VehiclesParticulars Qty

Cover Van-no-51-1506 1 No

Cover Van-no-11-0659 1 No

Car (Saloon)-no-11-2270 1 No

Car (Saloon)-no-11-2336 1 No

Microbus No-51-1307 1 No

2.1.4 Other Fixed AssetsParticularsElectrificationGas line InstallationDeep Tube wellD M PlantFurniture & Fixture:Avery ScaleFire Extinguisher Air CollerTrolly

Computer, Hardware & Software

Telephone, Fax & MobileLab EquipmentOffice EquipmentE T PLIFT

6

164,258,619 Amount (Taka)

Remarks

Value (Taka) 37,153,631 4,194,093 35,586,107 4,730,267 81,664,098

Value (Taka) 76,318,576 22,469,366 49,569,967 18,981,481 28,187,267 2,950,622 12,072,785 27,987,090 2,766,890 3,183,995 244,488,039

We have verfied the physical existance of fixed assets as per list provided by the management. We found all the assets exist as per list. We could not verify the item wise

cost of fixed assets for want of propoer supporting documents and accordingly figures provided by the by the Management have been considered in the restated Balance

7

Value (Taka) 1,160,960

1,356,872

1,356,872

1,418,548

1,480,224

1,480,224

1,480,224

1,541,900

1,603,576

1,603,576

1,603,576

1,583,350 17,669,902

Value (Taka) 333,600 1,575,380 932,500 1,350,000 1,062,861 5,254,341

Value (Taka) 10,655,117 2,751,471 6,757,492 3,154,258 3,031,142 601,942 257,430 1,422,000 2,029,134

3,431,995

475,599 88,760 261,064 10,829,680 581,263 46,328,347

8

3 Investment in sister concerns Taka

Esita GarmentsGreenland Apparels Limited

Break down of Esita Garments is shown as below:

Epshita Garments Account (EGL)Due to Asia Insurance on account EGL

Central Insurance City General InsuranceFederal InsuranceDaf Packeging IndustriesGreat Bengal Enterprise C & FJanata Insurance Khawja TransportMahmudul Hoq ( Advocate)Peoples Insurance S C Lala Advocate

9

37,460,538

33,113,253 4,347,285 37,460,538

35,885,934 (278,581) (813,081) (21,900) (27,875) (102,831) (85,300) (177,452) (84,804) (33,350) (1,125,982) (21,525) 33,113,253

10

4 Stock and Stores Taka

Raw Materials/Trading Goods Stock 25,024,555 (532,009)Store & Spares Stock 208,405 - Work In Process Stock 47,398,440 - Finished Goods Stock 12,733,626 - Stock Of Other Materials 1,670,049 - Stock Of Chemicals 27,324,928 9,028 (1,414,092) (3,042,892)Stock Of Packing Materials 66,314 -

114,426,316 (522,981) (1,414,092) (3,042,892)

4.1

Raw materials

Particulars Unit As per Book Excess/(short) Rate

20 S/CARD Kg 2,448 2,402 46 259 40 S/CARD Kg 425 406 19 338 34 S/CVC Kg 1,057 1,090 (33) 278 24 S/GM Kg 4,702 4,735 (34) 296 34 SB/c Kg 103 135 (32) 330 34 S/GM Kg 1,310 1,350 (40) 319 24 S/CVC Kg 1,076 1,127 (51) 281 30 S/COMB Kg 2,601 2,650 (49) 293 30 S/CVC Kg 1,960 2,025 (65) 274 26 S/CARD Kg 16,353 16,430 (76) 255 28 S/CARD Kg 619 735 (116) 270 34 S/CARD Kg 11,736 11,850 (114) 274 30 S/CARD Kg 1,761 1,877 (116) 270 26 S/COMB Kg 1,228 1,350 (122) 289 26 S/CVC Kg 2,443 2,612 (169) 259 30 S/GM Kg 7,275 7,595 (320) 300 26 S/GM Kg 6,040 6,625 (585) 296 Total 63,136 64,993 (1,856)

Balance as per book as on 31.07.2012

Excess /(Short)

quantity - 4.1

Loss on slow moving items -

4.2

Obsolete stock of chemicals-

4.3

During the course of our physical verification we found differences between book balance and actual balance. Such differences are noted below.

As per physical

verification

11

Chemicals


Mebyo Ldh H/C Kg 370 69 301 460 Custic Soda Kg 1,090 827 263 74 Lemagal Dsp Kg 805 617 188 139 Awn Kg 2,635 2,452 183 130 Albafix Eco Kg 783 641 142 409 Hydross Kg 569 438 131 182 Lubisol Am Kg 1,780 1,688 92 104 INVATEX CS/Chelam Nex/Cs Kg 1,680 1,826 (146) 138 Yoga Acid/Acetic Acid Kg 1,070 1,353 (283) 151 Lime Powder Kg 5,000 5,980 (980) 12 Common Salt Kg 9,028 10,118 (1,090) 10 Total 24,810 26,009 (1,199)

Stock of Dyes


Megaperse R Turquoise Tna Kg 75 - 75 1,057 Sunfix Deep Red Mf-Cn Kg 610 541 69 982 Sunzol Black B 150% Kg 1,950 1,870 80 372 Nova Super Black G Kg 34 - 34 745 Sunfix Red Spd Cone Kg 960 926 34 570

Kg 400

374 26 707 Sunfix Supra Orange S2rn Kg 410 385 25 719 Magapase Yellow-Egl Kg 21 - 21 737 Magaprase Red –Erg Kg 16 - 16 936 Sunfix Red S3b 150% Kg 223 191 32 285 Sunfix Yellow Spd Kg 1,370 1,442 (72) 385 Sunzol Blue Rs 150% Kg 275 298 (23) 1,478 Sunfix Navy Blue Mf-Cn Kg 200 272 (72) 484 Sunfix Red Mf-Cn Kg 1,075 1,150 (75) 519 Sunfix Navy Blue Spd Conc Kg 205 317 (112) 623 Megafix Black Ms-2g Kg 45 566 (521) 571

As per physical

verification

As per physical

verification

Synafix Supra Yellow S4gl 200%

12

Total 7,869 8,331 (462)Total Short quantity 95,815 99,333 (3,518)

4.2

Name of Items Unit Quantity Rate

ChemicalsMesoft Tm Sc Conc Kg 9/30/2009 1,350 160 Decol Rsa Kg 5/10/2011 187 260 Biorol (Wettin) Ow/60 Kg 3/22/2011 1,580 173 Mesoft Tm Sc Conc Kg 9/30/2009 1,350 160 Eva Soft A Kg 12/31/2009 435 147 TotalDyes StuffNova/Ciba Turquise Hgn Kg 5/20/2010 29 5,128 Es Kg 11/25/2010 268 473 Sunfix Blue Ssr Kg 1/23/2011 50 2,240 Remazol Blue Rr Gran Kg 11/25/2010 77 1,056 Megaperse R Blue Ebl Kg 11/15/2011 49 1,112 Remazol Yellow Rr Gran Kg 11/25/2010 23 1,473 Megaperse R Turquoise Tna Kg 11/15/2011 75 1,057 Synafix Supra Orange Srf Kg 4/20/2008 353 723 Syna Cron Blue Fnr Kg 1/1/2008 625 1,291 Sunfix Blue Ssr Kg 1/23/2011 50 2,240 Sunzol Brill Violet 5r Kg 7/18/2010 20 1,019 Terasil Blue. 3rl 150% Kg 1/1/2008 35 635 Terasil Yellow W4g Kg 4/29/2010 25 1,640 Nova/Ciba Yellow Fn-2r Kg 12/23/2010 80 524 Nova/Ciba Blue Fnr Kg 12/22/2010 6 1,871 Nova/Ciba Yellow S3r Kg 1/31/2009 25 659 Dianix Turquoise Blue S-Bg Kg 4/15/2008 24 1,947 TotalTotalLess - Estimated Realizable vale - 50% of cost Loss on slow moving items

The following items have not been used in production for more than one year. We have estimated 50% of the cost could be realized.

Last purchase date

13

4.3 As per management report the following stock items could not be used in production :

Name of Items Unit Quantity Rate

ChemicalsExchange Resin Kg 1/1/2008 2,075 300 Uvitex Bam Liq Kg 6/30/2010 1,050 252 Vitexolk New-1h1 Kg 1/1/2008 400 524 Cationic-Soften Ca Kg 10/22/2008 900 117 Synowhite Byb Kg 1/1/2008 48 1,986 Diaclon-Tc Kg 10/22/2008 800 112 Leveling Osk Kg 10/22/2008 700 117 Silicon-Soften Conc Kg 10/22/2008 400 156 Sera Zon C-Ms 100 Kg 12/4/2008 275 167 Coston-B Kg 10/22/2008 300 123 Activa Carbon Crystal Kg 6/28/2008 225 118 Calgon-K Kg 10/22/2008 300 81 Stalon-101 Kg 10/22/2008 100 161 Total

Dyes StuffNova/Ciba Red S-2b Kg 6/24/2009 11 632 Reactive Black Mx-Gr Kg 7/31/2008 34 295 Synafix Supra Deep Red Dh Kg 4/20/2008 50 641 Synafix Supra N/Blue Md Kg 9/30/2008 180 948 Nova/Ciba Orange Fnr Kg 1/1/2008 14 766 Synafix Supra Yellow3rs Kg 5/29/2008 698 268 Reactive Yellow Mx 3r Kg 5/29/2008 164 227 Reactive Red Mx 3b Kg 5/29/2008 1,341 287 Reactive Blue Mxfb Kg 5/28/2009 350 452 Nova/Ciba Brill Red Fn-3gl Kg 2/9/2010 10 1,280 Reactive Yellow Mx 4g Kg 5/29/2008 571 397 Sunzol Black Dn Conc Kg 7/19/2009 8 625 Synafix Supra Yellow Md Kg 6/30/2010 43 53 Synafix Supra Blue Srf Kg 1/1/2008 240 483 TotalTotal Obsolete stock

Last purchase date

14

4.4

Particulars Quantity (Kg)

ChemicalsMesoft-Pas 120Sodium Hypochlorite 210Urea 50Jintex Wrn 120Apriton AM 150Protefix Dpe-568 11Rockaryl 100Retvam Czw 150Sw-147 Violet ( Af ) 9Stock of DyesSunfix Yellow Mfd 126.5Sunfix Yellow Mf Cn 296.06Sunfix Navy Blue Md 140Sunzol Deep Black Gbh/C 17Reactive Orange Mx 2R 18Reactive Orange Mx 2R 18Syno White 4Bk 39.1Solacion Red He3B 4.25

1,579

During the course of our audit we have found the following items which were not shown in the inventory list. We could not ascertian the cost or realizable value of those items :

15

109,446,351

Amount (Taka)

24,492,545208,405

47,398,44012,733,626

1,670,04922,876,972

66,314 109,446,351

Amount (Taka)

11,910 6,537 (9,169) (9,924) (10,560) (12,750) (14,380) (14,403) (17,788) (19,416) (31,220) (31,303) (31,369) (35,199) (43,682) (95,970) (173,324) (532,009)

Restated Balance as on 31.07.2012

During the course of our physical verification we found differences between book balance and actual balance.

16

Amount (Taka)

138,316 19,575 26,111 23,726 58,082 23,896 9,580 (20,128) (42,659) (11,760) (10,791) 213,948

Amount (Taka)

79,106 67,866 29,727 25,501 19,380

18,135 18,047 15,160 14,667 9,140 (27,612) (33,639) (34,727) (38,925) (69,539) (297,206)

17

(204,920) (522,981)

Amount (Taka)

216,203 48,679 272,961 216,203 63,962 818,007

148,712 126,764 112,000 81,312 54,755 33,879 79,136 254,715 807,082 111,982 20,314 22,208 40,988 41,896 11,228 16,474 46,732 2,010,176 2,828,184 1,414,092 1,414,092

The following items have not been used in production for more than one year. We have estimated 50% of the

18

As per management report the following stock items could not be used in production :

Amount (Taka)

622,853264,926209,748105,453

95,34389,56882,02662,40045,99137,03826,55024,34816,112

1,682,355

6,95210,03032,050

170,64010,724

187,06437,239

384,867158,200

12,800226,703

5,0062,293

115,9681,360,537

3,042,892

19

During the course of our audit we have found the following items which were not shown in the inventory list.

20

5 Advance Deposit and Prepayments Taka

Advance against Goods supply 20,504 - Advance Income Tax 7,588,705 - Advance for Expenses 6,818,055 (67,604)Advance for Other Finance 10,216,220 (938,853)Advance to Employees 345,188 (64,188)Suspense 1,118,838 (21,000)Deposits 3,958,484 - Advance against BB LC No.2011 174,906 - Advance against BB LC No.2012 5,027,546 - Advance For Import LC 7,441,174 - Total 42,709,620 (1,091,645)

5.1 Following advances & deposits have been considered as good :

5.1.1 Advance against Goods supplyParticulars Purpose of transactions

Global Tex Associates Ltd Purchase of Yarn- Lycra 20DDiverse Manufacturing ind. LTD Purchase of Cartoon, PolyTotal

5.1.2 Advance for ExpensesParticulars Purpose of transactions ITTB Against PurchaseMr.Taimur Reza ETP modification workS R Corporation Against Purchase of VehicleTotal

5.1.3 Advance for Other FinanceParticulars Purpose of transactions Port Land Textile Amount receivable for sale of dyeing MachineLand Development Labour bill for construction workAbul Hasem Deep Tubeweel workCanteen Advance to Hanif Canteen AdvanceOrange Design Ltd Subcontract work for Dying sectionNemsan Fashion Management Ltd. Advance paid for subcontract work of garment seAdvocate Ranaga Bikas Chowdury Legal expenseMr. MA Rab Sales Commission to buyer

Cash Incentive Receivable Provision for incentive shown as advance

Total


Doubtful of Recovery - 5.2

21

5.1.4 Loan to EmployeesParticulars Purpose of transactions Advance against salary advance against salaryMr. Mokter Ahmed Belal, PM employees' personal loanMr. Jane Alam ( Generator OPT. ) employees' personal loanMr. Mezba, Asstt. Accts. Manager employees' personal loanMr. Shahadat ( Printing In-Charge ) employees' personal loanMr. Sujit Chakrabotty employees' personal loanMr. Kutub Uddin -Floor In-Charge employees' personal loanMr. Nurul Hoque (Driver) employees' personal loanTotal

5.1.5 Advance as Suspense Particulars Purpose of transactions Mr. Nayak Commercial Dept.Mr. Rubel, Purchase OfficerMr. M.A. Bakkar Managing DirectorMr. Nasir Uddin Commercial ManagerMr. Jaker Ullah DoctorMr. Ahmed Kabir Commercial OfficerMr. Habib

Mr. Liakat Ali Driver

Mr. Jane Alam ( Commercial )Mr. Shahjahan- MerchandiserMr. Asraf Ali Manager Admn.Mr. Abdul Baten, Manager Marketing Mr. Hatem ( Printing Designer )

Mr. Osman ( Driver - 659 )

Mr. Sarwar Hassan Titu Mr. Prabas Mr. U K Dewanjee (Merchandiser )Mr. Rashid Mr. Bijoy Peon

Mr. Aziz ( Driver )

Mr. Manjur Kader Central Store

Mr. Lokman

Mr. Amin GermentsMr. Farok Mr. Zafar Saleem Mr. Farok Hossain Finishing SupervisorSus.- Mr. Mohiuddin ( Printing )

Mr. Shahed Driver

Mr. Nurul Hoque Driver

Commercial WorkPurchase of materials

LCD monitor & Electronics Spares Parts

Commercial WorkPurchase of medicine

BKMEA membership fees

Night shift workersGasolineCommercial WorkTravelling AdvanceDeep tubewel workPromotional workFilm DevelopmentGasolineDifferent ExpensesMaintenance workesAgainst PurchaseChemical PurchaseEntertainmentGasolineSub-Contract Yarn deliveryTruck fareEntertainmentMaterials purchase

Machine Maintenance work

Travelling expense to subcontract factory

Travelling expense to subcontract factoryGasoline

Gasoline

22

Total

5.1.6 DepositsParticulars Purpose of transactions Bank Guarantee Margin Bakhrabad Gas System Ltd.Security Deposit BGSL & Karnaphuli Gas Distribution Co. Ltd.Total

23

5.1.7 Advance for Back to Back LCParticulars Purpose of transactions LC No.1810-11-04-0351 LC Charges and CommissionTotal

5.1.8 Advance For Back to Back 2012Particulars Purpose of transactions LC No.1810-12-04-0138 LC Charges and CommissionLC No.1810-12-04-0144 DoLC No.1810-12-04-0173 DoLC No.1810-12-04-0185 DoLC No.1810-12-04-0209 DoLC No.1810-12-04-0210 DoLC No.1810-12-04-0213 DoLC No.0117-12-04--398 DoLC No.0117-12-04--399 DoLC No.0117-12-04-0402 DoLC No.0117-12-06-0136 DoLC No.1810-12-04-0237 DoLC No.1810-12-04-0257 DoLC No.1810-12-06-0015 DoLC No.1810-12-04-0262 DoLC No.1810-12-06-0016 DoLC No.1810-12-04-0267 DoLC No.1810-12-04-0273 DoLC No.1810-12-04-0275 DoLC No.1810-12-04-0277 DoLC No.1810-12-04-0280 DoLC No.1810-12-04-0281 DoLC No.1810-12-04-0282 DoLC No.1810-12-04-0283 DoLC No.1810-12-04-0284 DoLC No.1810-12-04-0285 DoLC No.1810-12-06-0018 DoLC No.1810-12-04-0038 DoLC No.1810-12-04-0070 DoLC No.1810-12-04-0094 DoTotal

5.1.9 Advance For Import LCParticulars Purpose of transactions LC No.1810-12-02-0013 Dated: 21.06.12LC No.1810-12-01-0117 Dated: 21.06.12 DoLC No.1810-12-01-0116 Date: 21.06.12 DoLC No.1810-12-02-0016 DoLC No.1810-12-01-0137 DoLC No.1810-12-01-0145 Dated: 27.07.12 DoLC No.1810-12-01-0147 DoTotal

LC Margin,charges and commission

24

Grand total

5.2 Following advances have been considered as doubtful of recovery and for adjustment against expenses:

Particulars Purpose of advance Advance:Advance For ExpensesLea Fashion & Garments Ltd Floor rent receivable Apt International Sub-contract Finishing charge receivable Sea Shore Apparels Ltd Sales bill, subsequently written off Total

Advance for Other FinanceChoice Garments Ltd Floor rent receivable Mr. Iqbal Hasan Salary of Garments worker was lost Samuda Beverage Mineral Water Apparel Maker Demurrage charge of Back to Back LC CMS Textile Ltd. Dyeing Charge R H Attire Ltd. Dyeing Charge Nemsan Fashion Management Ltd. Garments sub contract Total

Loan to EmployeesLoan To Mr. Dilip Kumar Sen Gupta ( G. M. ) Employee left job Total

Advance as Suspense Sus.- Mr. Maleq Roni Motors Old brought forward balance Sus.- Mr. Lokman Maintenance Department Maintenance works and spare parts purchase

TotalTotal - doubtful of recovery

25


20,504 7,588,705 6,750,451 9,277,367 281,000 1,097,838 3,958,484 174,906 5,027,546 7,441,174 41,617,975

Amount (Taka)

20,000 504 20,504

Amount (Taka) 4,300,451 150,000 2,300,000 6,750,451

Amount (Taka) 1,759,274 30,530 20,000 48,146 150,000 50,500 100,000 1,250,915

5,868,002

7,467,563


26

Amount (Taka) 17,000 72,000 5,500 36,000 25,000 50,000 75,000 500 281,000

Amount (Taka) 781 366,231 11,000 5,500 6,500 25,060 10,785

8,938

20,707 136 46,866 29,193 4,860

1,000

189,751 2,455 55,000 33,250 3,179

2,052

32,379

8,000

500 74,910 146,822 980 1,000

6,074

3,929

27

1,097,838

Amount (Taka) 470,400 3,488,084 3,958,484

28

Amount (Taka) 174,906 174,906

Amount (Taka) 4,694 531,077 228,071 1,850 305,393 378,351 216,009 336,167 1,395 339,237 27,585 3,218 15,125 18,314 9,340 16,569 5,373 5,744 17,796 6,353 6,236 33,357 530,149 379,157 786,792 726,434 68,768 1,960 5,300 21,732 5,027,546

Amount (Taka) 177,020 1,859,492 4,079,876 57,292 562,730 521,100 183,664 7,441,174

29

32,219,465

Following advances have been considered as doubtful of recovery and for adjustment against expenses:

Amount (Taka)

61,944 5,620 40 67,604

338,328 256,210 136,795 45,000 64,552 34,968 63,000 938,853

64,188 64,188

1,000

20,000 21,000 1,091,645

30

6 Trade Debtors: Taka

Sundry Debtors- Local LC No. 122,319,189 (2,850,547)Sundry Debtors - Foreign LC No. 69,853,250 (2,870,459) 4,454,733 Doubtful Debts 4,046,254 (4,046,254)Bad Debts 480,418 (480,418)Disputed & Legal Action 15,321,532 (7,432,759)Total 212,020,643 (17,680,438) 4,454,733

6.1 Sundry debtors considered as good: 9/26/20126.1.1 ( Local LC)

Particulars Subsequent position

LC No. 0035-12-04-0038 (Farzana Fashion) Realized

LC No. 0035-12-04-0047 (Farzana)LC No. 0035-12-04-0051 (Farzana) RealizedLC No. 0035-12-04-0058 (Farzana) RealizedLC No. 0035-12-04-0075 (Farzana)LC No. 0041-12-04-0113 (Techno)LC No. 0117-12-04-0470 (Caeser)LC No. 0342-12-04-0395 (Wahico)

LC No. 0344-08-04-0061 (Allamah Fashion)

LC No. 0501-12-04-0121 (Uranus) RealizedLC No. 0866-12-04-0113 (Spacio)LC No. 1069-12-04-0016 (Saad Musa)LC No. 1069-12-04-0251 (Adila)LC No. 1069-12-04-0307 (Adila)LC No. 1069-12-04-0345 (Saad Musa) RealizedLC No. 1069-12-04-0396 (Adila) RealizedLC No. 1203-12-04-0388 (Apt International) RealizedLC No. 1203-12-04-0514 (Apt)LC No. 1273-12-04-0074 (Bench Mark) RealizedLC No. 1273-12-04-0075 (Benchmark) RealizedLC No. 1273-12-04-0097 (Benchmark)LC No. 1273-12-99-0100 (Sea Blue)LC No. 1273-12-99-0139 (Sea Tex)LC No. 1336-12-04-0305 (Tahersons) RealizedLC No. 1341-12-04-0196 (Cpl)LC No. 1564-12-04-0223 (Royal Tex) Realized


Doubtful of Recovery - 6.2 &

6.3Adjustments -

6.4

31

LC No. 1607-12-04-0043 (Nucon)LC No. 1610-12-04-0045 (Kent)

32


LC No. 1621-12-04-0019 (Shet Land)LC No. 1621-12-04-0034 (New Tech)LC No. 1621-12-04-0081 (Saad Musa) RealizedLC No. 1743-12-04-0160 (Ralex)

LC No. 1817-12-04-0114 (Axiom Fashion)

LC No. 1946-12-04-0331 (Figo)LC No. 1946-12-04-0482 (Figo)LC No. 1946-12-04-0627 (Figo)LC No. 1946-12-04-0655 (Figo) RealizedLC No. 1946-12-04-0658 (Figo)LC No. 1946-12-04-0684 (C&A) RealizedLC No. 1946-12-04-0840 (Figo)LC No. 1946-12-04-0841 (Figo)

LC No. 1946-12-04-0916 (C & A Fashion)

LC No. 1946-12-04-0929 (C & A Fashion)

LC No. 1946-12-04-0959 (Figo)LC No. 1946-12-04-1079 (Figo)LC No. 1948-12-04-0406 (Organic)LC No. 2083-12-04-0003 (Sea Shore)LC No. 2083-12-04-0079 (Sea Shore)LC No. 2962-11-04-0805 (Visual) RealizedLC No. 2962-12-04-0080 (Tafop)LC No. 2962-12-04-0089 (Visual) RealizedLC No. 2962-12-04-0144 (Visual)LC No. 2962-12-04-0158 (Visual) RealizedLC No. 2962-12-04-0254 (Visual)LC No. 2962-12-04-0414 (Visual)LC No. 2962-12-04-0460 (Visual) RealizedLC No. 2962-12-04-0485 (Visual)LC No. 3038-12-04-0235 (Stitch Tone) RealizedLC No. 3038-12-04-0281 (Stitchtone) RealizedMr.EhanShah Amanat EnterpriseD M GarmentsK D S Textile Mills Ltd.Ambia Knitting & Dyeing Ltd.A D Fashion Ltd.A N Textile RealizedArefin TextileArina CompositeBase TextileClifton Apparels Ltd.Farzana Fashion Fashion Ltd.

33

Ifco Garments RealizedKazi Enterprise


Mam Apparels & Textile LtdRitzy ApparelsStich Tone Apparels Ltd.Sub Contract DebtorsBulk DebtorsScreen Impression (Cpl)LC No. 1556-08-04-0006 (Sayeed Knit)Fashion Create ApparelsTotal

6.1.2 Sundry debtors ( Export LC):


Master LC No. 100-1221 (Califonia)Master LC No. Dchkh 626231 (Kik) RealizedMaster LC No. Dchkh 626954 (Kik)Master LC No. Dcmtn 738835 (Lollytogs)Master LC No. Dtnlfm 619330 RealizedMaster LC No. I55122228 (Ym Inc) RealizedMaster LC No. I55122246 (Ym Ics) RealizedMaster LC No. I55122338 (Ym Inc) RealizedMaster LC No. I55122378 (Ym Inc) RealizedMaster LC No. I55122463 (Ym Ics) RealizedMaster LC No. Imp00312949 (Hartsko) RealizedMaster LC No. L080790 (Allura) RealizedTotal

6.2

Disputed & Legal Action

Particulars

LC No. 1946-07-04-1244 (Day Fashion)

LC No. 2355-07-04-0081 (Joint Garments)

LC No. 1279-08-04-0124 (Mam Apparels)

LC No. 1946-08-04-0185 (Day Fashion)

LC No. 1541-08-04-0017 (Jerat Fashion)

LC No. 2088-09-04-0043 (B K Dyeing)LC No. 2094-09-04-0131 (Benchmark)

Company has filed a number of lawsuits against its debtors to realize over due receivable amount. The details are given

below :

34

LC No. 1814-09-04-0540 (Araz)LC No. 10007321 (Intimo Inc)

Particulars

Chumki Apparels ( LC No. 0342-05-04-0209)

Samotaf Apparels Ltd. (LC No. 0501-06-04-0152)

Lemond FashionBenchmark Apperels LtdSub total:Less: 50% of total amount- assumed badNet realizable amount

6.3 The following debtors have been considered as bad.

6.3.1 Sundry Debtors- Local LC No.


LC No. 1610-09-04-0038 (Kent)

6.3.2 Sundry Debtors - Foreign LC No.Presentation Apparels Ltd. Unadjusted sinc 2010 Sonnet Textile Ind. Ltd Unadjusted since 2010

6.3.3 Doubtful DebtsLC No. 0117-11-04-0090 (Caeser) Unadjusted since 2010 Mrf Fashion Ltd. Unadjusted since 2008 LC No. 2962-09-04-0520 (Visual) Unadjusted since 2010 LC No. 0343-11-04-0332 (Dress well)Monwara Hero ApparelsDesign ApparelsSplendid Fabrics Ltd

6.3.4 Bad DebtsLC No. Dchte 628268Ee Allied Bright Unadjusted since 2008

6.3.5 Disputed & Legal ActionBenchmark Apparels Ltd.

Total - bad debts

On the basis of discussion with the Management it has been assumed that 50% of the above amount could be realized

and accordingly the rest 50% has been considered as bad.

Allowed discount to buyer due to defective shipment

Allowed discount to buyer due to defective shipment

35

6.4 Inappropriate treatment of Exchange loss/(gain) and credit balance shown in debtors:


LC No. 3038-10-04-0349 (Stitch Tone Apparels) Adjusted

LC No. 3038-12-04-0029 (Stitch Tone Apparels) Do

LC No. 3038-12-04-0125 (Stitch Tone) DoLC No. 3038-12-04-0165 (Stitch Tone) DoLC No. 3038-12-04-0201 (Stitch Tone) DoLC No. 0117-12-04-0355 (Caeser) DoLC No. 0342-12-04-0052 (Garland) DoLC No. 0501-12-04-0039 (Uranus) DoLC No. 1203-12-04-0035 (Apt ) DoLC No. 2083-12-04-0051 (Sea Shore) DoTotalCredit balance shown in debtorsTotal

Exchange gain of Tk. 2,037,736 was not recognized in the profit and loss account. The said amount was lying in the Accounts Receivables as on 31 July 2012. As a result net income was understated for the same amount. Conversion gain balances shall be transferred from the Doubtful (Sundry Debtors) accounts to P/L A/c (Exchange loss/Gain).

36


119,468,642 71,437,524 - - 7,888,773 198,794,939

Amount (Taka)

1,208,228

499,592 523,125 797,225 290,812 353,711 72,900 302,280

307,500

4,039,137 772,650 210,000 6,660,098 352,980 786,408 627,617 2,108,550 9,133 558,338 121,635 402,750 498,150 877,500 1,171,148 1,850,252 874,380


37

209,250 315,897

38

Amount (Taka)

135,450 231,784 2,103,585 1,743,661

96,022

2,966,570 1,216,875 698,850 6,663,791 365,287 206,213 8,860,928 437,850

420,000

338,730

1,540,158 95,850 638,263 7,509,708 176,160 170,813 3,771,224 7,471,436 2,231,250 749,250 11,281,953 320,212 1,937,325 206,859 2,119,342 1,908,059 550,000 31,443 66,186 18,637 49,130 52,470 400,000 11,875 23,984 740,891 2,625,544 8,930

39

1,838,679 297,584

Amount (Taka)

19,924 12,028 1,264,721 10,294,464 4,912,924 1,804 405,449 124,725 119,166,093

Amount (Taka)

7,192,758 10,791,220 2,177,044 6,627,974 2,227,500 2,929,860 16,935,000 5,350,110 2,701,915 840,000 220,166 14,276,700 72,270,246

Amount (Taka)

2,693,568

488,175

343,728

514,102

2,129,763

2,112,770 1,290,658

Company has filed a number of lawsuits against its debtors to realize over due receivable amount. The details are given

40

565,802 1,713,746

Amount (Taka)

973,614

1,349,088

579,265 37,080 14,791,359 7,395,679 7,395,679

The following debtors have been considered as bad.

Amount (Taka)

2,850,547 2,850,547

2,681,068 189,391 2,870,459

1,677,042 1,023,000 572,005 320,000 283,050 101,946 69,211

4,046,254

480,418 480,418

37,080 37,080

10,284,759

On the basis of discussion with the Management it has been assumed that 50% of the above amount could be realized

41

Amount (Taka)

171,805

484,242

235,264 172,053 237,052 31,256 23,373 162,361 457,233 63,098 2,037,736 2,416,997 4,454,733

Exchange gain of Tk. 2,037,736 was not recognized in the profit and loss account. The said amount was lying in the Accounts Receivables as on 31 July 2012. As a result net income was understated for the same amount. Conversion gain balances shall be transferred from the Doubtful (Sundry Debtors) accounts to P/L A/c (Exchange loss/Gain).

42

7 Cash & Bank A/c TakaBreak down of above balance is summed up below:ParticularsHead Office CashBank AccountTotal Balance

Bank of Bank Facility enjoyed Amount (Taka)Standard Bank CD Account 5442 KTG Branch (274,557)Standard Bank CD Account 1722 KTG Branch 2,588,565 Standard Bank Retention Quota A/c No. 003/08 591,854

Janata Bank CD A/c 10948 Foreign Ex. Branch 6,922,263 Total Balance 9,828,125 We noted that bank reconciliations statements are done on a monthly basis.

43

10,375,100

Amount (Taka) 546,975 9,828,125 10,375,100

We noted that bank reconciliations statements are done on a monthly basis.

Company Code: 01Plant & Machinary Code: 04

Asset Class Particulars Qty Value Status. Existance Remarks

Knitting Section:0001-001 30"X24GX90F S/J Knit m/c 1 set 1,363,690 Active ü

0002-001 30"X24GX90F S/J Knit m/c 1 set 1,363,690 Active ü

0003-001 1 set 1,875,060 Active ü

0004-001 1 set 1,875,060 Active ü

0005-001 14GG Yoko (Collar & Cuff) 1 set 216,063 Active ü




0009-001 Rib Knitting M/c 30X18GX60F 1 set 716,860 Active ü

0010-001 Rib Knitting M/c 36X18GX72F 1 set 716,860 Active ü

0011-001 Circular Knitting M/c 16"X24GX48F 1 set 1,160,960 ü





SUPER KNITTING & DYEING MILLS LTD.Statement of Machinery. (Garments, Textile & Printing)

Interlock Circular Knit m/c 30"X24GX72F

Interlock Circular Knit m/c 30"X24GX72F

Active but small dia order unavailable











0022-001 Circular Knitting M/c 28"X24GX84F 1 set 1,726,928 Active ü


























Knitting m/c cylinder 5 set 4,082,630 Active ü

Flat Knitting M/C (Collar & Cuff) 10 set 7,465,924 Active ü

Sub total 76,318,576

Dyeing Section:0044-001 Fong's Dyeing M/c 1 set 2,313,720 Active ü

0045-001 Fong's Dyeing M/c 1 set 3,074,578 Active ü

0046-001 High Tem Dye m/c 1 set 281,224 Active ü

High Pressure Dye M/c 240 Kg 2 set 902,986 Active ü

0048-001 Hi soft Dyeing m/c 300 kg 1 set 1,091,740 Active ü

0049-001 1 set 1,935,000 Active ü

0050-001 Jet Type H/pressure Dye m/c 30 kg 1 set 516,000 Active ü

0051-001 High soft Dyeing M/c 500kg 1 set 1,153,643 Active ü

0052-001 Vertical Dyeing M/c 450kg 1 set 886,259 Active ü

0053-001 Hi-soft Dyeing M/C 150 kg 1 set 899,100 Active ü

0054-001 Hi-soft Dyeing M/C 25 kg 1 set 321,100 Active ü

Hi-soft Dyeing M/C 500 kg 2 set 4,434,446 Active ü

0056-001 Bangla Dyeing m/c 1 set 487,688 Active ü

0057-001 Hi-soft Dyeing M/C 650 kg 1set 2,850,000 Active ü

0042-001 to 005

1 machine Installed in Circular Knitting M/c 30"X24GX90F

0043-001to 010

0047-001 to 002

Hi Pressure Hi soft round type dyeing m/c

0055-001 to 002

Dyeing Sample M/c (Local) 2 set 245,000 Active ü

0059-001 Washing M/c & Thumble Dryer 4 nos 1,076,882 Active ü


Finishing Section:0066-001 Hydro Extractor 1 set 318,001 Active ü

0067-001 Tube Tex M/c 1 set 11,756,042 Active ü

0068-001 S-tenter m/c 95' 6 C/B 1set 15,453,500 Active ü

0069-001 Flat Dryer (3 Layer, 3 Chamber) 1 set 6,917,436 Active ü

0070-001 Soft Calander m/c 1 set 2,049,250 Active ü

0071-001 Slitting M/c 1 set 10,677,767 Active ü

0072-001 Fabric Brush M/c 1 set 2,087,836 Active ü

0073-001 Convayer Belt 10 pcs 310,135 ü


Printing Machine:0074-001 Auto Flat Bed Print m/c 1 set 12,746,750 Active ü

0075-001 Design Copy M/c 1 set 950,010 Active ü

0076-001 Screen net feeding m/c 1 set 237,500 ü

Design Board 540 nos 2,685,497 ü

0078-001 Print M/c Materials (Scraver) 1,497,014 Good in condition ü

0079-001 Screen Print M/c 864,710 Active ü


Generator:0080-001 Gas Generator 115 KW 1 set 2,671,980 Inactive ü

0081-001 Diesel Generator 1 set 1,300,000 Active ü

0082-001 Gas Generator 952KW 1set 15,174,287 Active ü

0083-001 Gas Generator (689 Kw) 1 set 9,000,000 Active ü


Lab Machine:0085-001 Datacolour M/c 1 set 2,366,720 Active ü

0058-001 to 002

A S-tenter machine burner installed of Tk. 550,000

A flat dryer gas burner installed of Tk. 380,000

A vacum tube installed of Tk. 70,000

9 nos of Convayer Belt attached with machine

a printing machine burner has been installed of Tk. 350,000

0077-001 to 150

740 nos of Design board physically found

0086-001 Lab Dyeing M/c 1 set 365,694 Active ü

0087-001 Lab Equipment 218,208 Active ü

Sub total 2,950,622

Boiler & Compressor:0088-001 Ruston Thermax Boiler 1 set 1,868,266 Active ü

0089-001 10 Ton Boiler (Shabnam vege) 1 set 4,140,000 Active ü

0090-001 Thermo Boiler 1 set 1,583,350 Inactive ü

Compressor 2 nos 4,481,169 Active ü


Garments Machine:0092-001 Needle Dedector 1 set 649,288 Active ü

Daewoo: DLS-600 87 set 2,127,466 Active ü

Steam Iron 24 set 85,616 Active ü

Vacuum Table 20 set 449,253 Active ü

Juki MO-2366 DD4 20 set 1,054,087 Active ü

Juki MO-2354-OD4 6 set 298,274 Active ü

Juki LBH-780 (Button Hole M/c) 4 set 2,657,772 Active ü

Juki MB-372 Button Sewing 4 set 1,738,868 Active ü

Juki Model DDL8300N 5 set 106,767 Active ü

Juki Model DDL87007WB 4 set 241,236 Active ü

Juki Model LK1900ASS/MC596K 2 set 441,497 Active ü

2 set 573,946 Active ü

Juki Model LBH781U 2 set 419,422 Active ü

Juki Model MF7823U10B56/PL-S2 6 set 971,293 Active ü

Juki Model PX302-4W 2 set 301,689 Active ü

0091-001 to 002

0093-001 to 097

0094-001 to 024

0095-001 to 020

0096-001 to 020

0097-001 to 006

0098-001 to 004

0099-001 to 004

0100-001 to 005

0101-001 to 004

0102-001 to 002

0103-001 to 002

Juki Model LK1903ASS301/MC596KSS

0104-001 to 002

0105-001 to 006

0106-001 to 002

0107-001 K.M KS. AU-V-10" 1 set 69,976 Active ü

34 set 1,630,087 Active ü

Brother Model: T-8420C-003-N64D 5 set 421,905 Active ü

Brother Model: KE-430F-03-S 2 set 398,892 Active ü

Brother Model: HE-800A-3 2 set 567,654 Active ü

0112-001 Brother Model: BE-438F-03-S 1 set 268,485 Active ü

Kansai Special Model: DFB-1404-PMD 2 set 188,707 Active ü

Kansai Special Model: LX-5802M 2 set 239,335 Active ü

0115-001 KM. Model: KS-AUV-10" 1 set 76,710 Active ü

Pegasus M 752-13H-2X4 30 set 1,373,760 Active ü

Pegasus M 732-35-3X2X4 5 set 251,856 Active ü

Pegasus M 752-13H-2X4 2 set 167,904 Active ü

Pegasus W1562P-02GX356BS 4 set 351,072 Active ü

Pegasus W1522P-04BX264/Y1989 2 set 228,960 Active ü


8 set 1,190,592 Active ü


Pegasus W264P-01GBX356/Y1625 2 set 587,664 Active ü

0125-001 Pegasus Cilynder O/L M/C 1 set 53,000 Active ü

Silinder bed Machine 2 set 190,000 Active ü

Flat Lock Cover Stitch 6 set 480,000 Active ü

Chin Stitch M/c (Biman) 2 set 108,000 Active ü

Overlock Machine 23 set 966,000 Active ü

0108-001 to 034

Brother Model: S-6200A-303 /X-7200-FL-1P220V/ G1A

0109-001 to 005

0110-001 to 002

0111-001 to 002

0113-001 to 002

0114-001 to 002

0116-001 to 030

0117-001 to 005

0118-001 to 002

0119-001 to 004

0120-001 to 002

0121-001 to 004

Pegasus W1562P-05BX356BS/FT0B/MD0A

0122-001 to 008

Pegasus W1662P-01GX356BS/RP1A/Y2001

0123-001 to 002

Pegasus W664P-33BCX356/FT242A/RP110A

0124-001 to 002

0126-001 to 002

0127-001 to 006

0128-001 to 002

0129-001 to 023

0130-001 Rib Cutting Machine 1 set 35,000 Active ü

Elastic Attach 6 set 570,000 Active ü

Binding Flat Lock 2 set 180,000 Active ü

Single Needle 2 set 36,000 Active ü

Overlock Machine (Juki Brand) 12 set 504,000 Active ü

Single Needle Juki Brand m/c 5 set 90,000 Active ü

Silinderpad Flat Lock 2 set 190,000 Active ü

Blindoff stitch 2 set 96,000 Active ü

Flatlock Interlock (Pegasus Brand) 5 set 425,000 Active ü


Single Needle Juki Brand m/c 15 set 270,000 Active ü

Bainding (F/Lock) 5 set 450,000 Active ü

Single Needle Lock Juki Brand m/c 12 set 228,000 Active ü

Plain m/c 10 set 185,000 Active ü

Juki Brand sewing m/c (model--8300-N) 16 set 376,000 Active ü

Over lock (Juki-Cutter-MO2300) 1 set 15,000 Active ü

Snip Button Machine 4 set 40,000 Active ü

Fusing Machine HBP 700D 1 set 955,000 Active ü


Local Purchase:0145-001 PRINT M/C 1 set 84,000 ü

0146-001 Printing Squeege 10 Pcs 186,615 ü

2 set 24,000 ü

Mixer Machince 12 set 168,000 ü

0131-001 to 006

0132-001 to 002

0133-001 to 002

0134-001 to 012

0135-001 to 005

0136-001 to 002

0137-001 to 002

0138-001 to 005

0139-001 to 004

Cilinderbad Interlock m/c (Pegasus Brand)

0140-001 to 015

0141-001 to 005

0142-001 to 012

0143-001 to 010

0144-001 to 016

0147-001 to 002

Heat Transfer Machine(old, size 1800V 16" x 16")

0148-001 to 012

B174

Amount paid to Mr. Gang agst 1 nos CFD Controller for Printing M/C for $1200 @ Tk.70 = Tk.84000

B175

Being the amount agt. Printing Frame & Scaver $9,110.00 For skdm of L/C # 1810-07-01-0168 TTL $ 1,08,116.00 (SUPER THREAD LIMITED )

B176

HEAD OFFICE CASH Color Sports - being the amount paid to Mr. Arif cost of 2 nos Heat Transfer Machine(old, size 1800V 16" x 16") @tk.12000.00/pcs, for Printing section their bill no nil dt:14.06.08

B177

R D RUBBER & ENGINEERING WORKS . - Being the amount paid agt. Mixer Machince 12 pcs Complete Set New Making Bill no 1515 dt.23-06-08

0150-001 Laboratory Dryer Temprange: 0-350C 1 set 85,000 ü

Snup Button attach m/c 3 set 20,000 ü

CONVEYERS BELTS 5 set 310,135

0153-001 Double plate Heat Transfer Machine 1 set 105,000 ü

0154-001 Double plate Heat Transfer Machine 1 set 74,000 ü

0155-001 New Cutting Machine 1 set 20,300 ü

0156-001 Electrict Equpment 1 set 1,122,340 ü

0157-001 Synchronizer for Power Generation 1 set 300,000 ü

0158-001 washing machine 1 set 50,000 ü

159-001 Colour Matching cabinet 1 set 162,000 ü

Steel Fram 100 set 55,500 ü Code no wasn't placed

Sub total 2,766,890

Others:0060-001 Fabric Turning m/c 1 set 193,500 Active ü

0061-001 Inspection m/c 1 set 64,500 Active ü

0062-001 Textile Test M/c 1set 77,064 Active ü

0063-001 Inspection M/c 1 set 316,600 Active ü

0064-001 Fabric Inspection M/c 1 set 597,781 Active ü

IR Sample Dyeing machine 1 set 532,000 Active Bought on 18/04/12Auto Heater Transfer M/C 2 set 230,000 Active Bought on 20/05/12

1,172,550 Active Bought on 31/05/12

Sub total 3,183,995

Total (Plants & Machineries) 244,488,039

0151-001 to 003

0152-001 to 005

code on 4 nos of belt wasn't placed due to 4 belt are installed in machine

0161-001 to 100

Flat Screen Printers Bedplate, Automatic Far Infared Dryer, Screen Frame & Accessories

B179

Being the amount for cost of Laboratory Dryer Temprange: 0-350C @ tk. 85000.00 for Dyeing section taken into a/c of Decent Trading as per bill no. 1515/B dt. 03/09/08 (original bill kept with BPV-08-10-0037).

B180

STANDARD BANK CC0794 KTG BR 1080310 - Being the amount paid to F M Fashions agst 2 sets Snup Button attach m/c as per their bill no. 1/08 dt.29/6/08

B181

L/C 1810-08-01-0191 DTD. 28.07.08 CONVEYERS BELTS . - Being the amount of 05 pcs Conveyer Belt of Flat Dryer taken into account

B182

SUS-MR.SARWAR HASSAN TITU (ED) SUS-MR.OSMAN(STORE OFFICER) SUS-MR.SARWAR HASSAN TITU (ED) . - being the amount cost of 1 set Double plate Heat Transfer Machine from R.K Enterprise, bill no: 946 dt: 02.01.11

B183

SUS-MR.SARWAR HASSAN TITU (ED) SUS-MR.SARWAR HASSAN TITU (ED) . - being the amount cost of 1 set Double plate Heat Transfer Machine from R.K Enterprise, bill no: 940 dt: 28.11.10

B184

HEAD OFFICE CASH Mr. Pravash - Being the amount paid agst. New Cutting Machine as per bill no. 17 dt. 15-12-11 as per attach bill With voucher

B185

SHAFI ELECTRICAL & ENGINEERING WORKS . - Being the amount at cost Electrict Equpment (Shafi Electrical)

B186

ENERGYPAC POWER GENERATION LTD. . - Being the cost of SPM-A Synchronizer for Power Generation as per bill no. EPG/SI/NOR/GUS/CHI/-00193 dt. 10-08-09 Payment Ref-bpv-09-11-0016 dt.05-11-09

B187

HEAD OFFICE CASH Mr. Soliman - being the amount paid for 1 pc washing machine purchase.

B188

Author: M B TRADE CORPORATION . - Being the amuont at cost qty 1 set Colour Matching cabinet for colour testiting &color assessment taken into a/c as per bill no 2811 dt 28.11.11

B190

HEAD OFFICE CASH B.R Engineering - being the amount paid for 70pcs Steel Fram(17" x 21") @ tk 525/pcs & 30pcs Steel Fram(23" x 31") @ tk 625/pcs making for Screen print bill no: nil dt: 13.04.11

SUPER KNITTING & DYEING MILLS LTD.

Statement of Machinery. (Garments, Textile & Printing)

Company Code: 01

Vehicle: 15

Particulars Qty Value Status. Remarks

0001 Cover Van-no-51-1506 1 333,600 Running0002 Cover Van-no-11-0659 1 1,575,380 Running0003 Car (Saloon)-no-11-2270 1 932,500 Running0004 Car (Saloon)-no-11-2336 1 1,350,000 Running0005 Microbus No-51-1307 1 1,062,861 Running

Total 5,254,341

Asset Class

Manufacturer's Description


Statement of Machinery. (Garments, Textile & Printing)

Company Code: 01

Asset Class Particulars Qty Value Status. Remarks

05 Electrification 10,655,117 06 Gas line Installation 2,751,471 07 Deep Tubewell 6,444,492 08 D M Plant 3,154,258 10 Furniture & Fixture: 3,031,142

Otobi Chair 77 Nos

Normal Chair 32 Nos

Executive Table 51 Nos

Tea Table (Glass) 2 Nos

Computer Table 18 Nos

0006-001 2 Nos

Steel Almirah 9 Nos

Sofa Single Seater 4 Nos

Manager Table 2 Nos

Patient Bed 2 Nos

Wooden Rake 11 Nos

Steel Rake 5 Nos

Clamp 5 Nos

Bench 3 Nos

Steel Cabinet 9 Nos

0001-001 to 077

0002-001 to 032

0003-001 to 051

0004-001 to 002

0005-001 to 018

0007-001 to 009

0008-001 to 004

0009-001 to 002

0010-001 to 002

0011-001 to 10

0012-001 to 005

0013-001 to 003

0014-001 to 003

0015-001 to 009

B12

Author: Addition for wall cabinet of Tk. 41,000 & other work of Tk. 240,000 on 29/04/12

Wall Wood Caabinet 8 Nos

Wood Cabinet 19 Nos

Executive Chair 5 Nos

Corner Rake 4 Nos

0020-001 Coat Hanger 1 Nos

Tea Table (Wood) 3 Nos

4 Nos

Tool (Otobi) 2 Nos

Conference Table 3 Nos

Otobi Rake 17 Nos

Sofa Double Seater 2 Nos

11 Avery Scale 601,942

Avery Scale (Normal) 2 Nos

Avery Scale (Digital) 2 Nos

12 Fire Estinguisher 257,430

109 Nos

Fire Estinguisher (CO2) 10 Nos

13 Air Coller 1,422,000

5 Nos

7 Nos

2 Nos

0016-001 to 008

0017-001 to 019

0018-001 to 005

0019-001 to 004

0021-001 to 003

0022-001 to 004

Computer Table (combine with 3 set)

0023-001 to 002

0024-001 to 003

0025-001 to 017

0026-001 to 002

0001-001 to 002

0002-001 to 002

0001-001 to 109

Fire Estinguisher (Dry Powder Chemical)

0001-001 to 010

0001-001 to 005

Air Conditioner Split (Capacity 1.5 ton)

0001-001 to 007

Air Conditioner Split (Capacity 2 ton)

0001-001 to 002

Air Conditioner Split (Capacity 2.5 ton)

Air Conditioner Window 5 Nos

14 Trolly 2,029,134

S.S. Pipe Trolly 7 Nos

Fibre Board Trolly 27 Nos

S.S. Box Trolly 18 Nos

CNG Type Trolly 13 Nos

Plain Trolly 5 Nos

16 3,379,995

Computer 37 set

0002-001 Server 1 set

17Telephone, Fax & Mobile 475,599

0001-001PABX System (Panasonic)

1 Set

30 Set

0003-001 Fax 1 Set0004-001 T&T Telephone Set 1 Set0005-001 Mobile Phone

18 Lab Equipment 88,760 19 Office Equipment 261,064

0001-001 Refrigeratr 1 Nos

Photocopy Machine 2 Nos

Scanner 3 Nos

Printer (Laserjet 1020) 6 Nos

0005-001 Printer (Laserjet 5100) 1 Nos

0001-001 to 005

0001-001 to 007

0002-001 to 027

0003-001 to 018

0004-001 to 013

0005-001 to 005

Computer, Hardeware & Software

0001-001 to 037

0002-001 to 030 PABX Connection Set

(Panasonic)

3 nos of PABX connection was set up for Super Thread Mills

0002-001 to 002

0003-001 to 003

0004-001 to 006

B54

Author: Steam Tank account has been transferred to trolly account of Tk. 261,324.93 on 31/03/12

B61

Author: Addition for payroll software of Tk. 120,000 on 31/05/12

0006-001 Printer (Laser P2035n) 1 Nos0007-001 Printer (Jet) 1 Nos

20 E T P 10,804,680 21 LIFT 581,263

Total 45,938,347


BALANCE SHEET

AS AT 31/07/2012

NET ASSETS NOTES TAKA

FIXED ASSETS 0101

CURRENT ASSETS

STOCK AND STORES 0201 #REF!

ADVANCES, DEPOSITS AND PRE-PAYMENTS 0202 #REF!

SUNDRY DEBTORS 0203 #REF!

CASH & BANK A/C 0204 #REF!

INTER PROJECT CURRENT ACCOUNT 0205 #REF!

TOTAL CURRENT ASSETS #REF!

CURRENT LIABILITIES

LIABILITY FOR GOODS SUPPLY 0401 #REF!

LIABILITY FOR EXPENSES 0402 #REF!

LIABILITY FOR OTHER FINANCE 0403 #REF!

LOAN FROM BANK 0404 #REF!

INTER PROJECT CURRENT ACCOUNT 0205 #REF!

TOTAL CURRENT LIABILITIES #REF!

NET CURRENT ASSETS/(LIABILITIES)

TOTAL NET ASSETS/(LIABILITIES)

*****

*****

*****

REPRESENTED BY

SHARE HOLDERS` EQUITY

SHARE CAPITAL-PAID UP 0301 500,000.00

SISTER CONCERN INVESTMENT 0302 #REF!

LOAN FROM DIRECTORS 0306 #REF!

#REF!

PROFIT AND LOSS ACCOUNT

PREVIOUS PERIOD (109,535,150.12)

TRANSFERRED CURRENT PERIOD 0305 0.00

CURRENT PERIOD #REF!

TOTAL PROFIT/(LOSS) #REF!

TOTAL SHARE HOLDERS` EQUITY

LONG TERM LIABILITIES

TOTAL EQUITY & NON CURRENT LIABILITIES

TAKA

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

SUPER KNITTING & DYEING MILLS LTD.PROFIT & LOSS A/C

FROM 01/07/12 TO 31/07/2012

PRODUCT NAME: GARMENTS

PARTICULARS NOTES

GROSS PROFIT/(LOSS)

ADMINISTRATIVE OVERHEADS 070103

FINANCIAL OVERHEADS 070203

TOTAL ADMINISTRATIVE & FINANCIAL OVERHEADS

NET OPERATING PROFIT/(LOSS)

OTHER INCOME 0801

NET PROFIT/(LOSS)

PRODUCT NAME: KNITTING & DYEING

PARTICULARS NOTES

GROSS PROFIT/(LOSS)





OTHER INCOME 0801

NET PROFIT/(LOSS)

PRODUCT NAME: PRINTING

PARTICULARS NOTES

GROSS PROFIT/(LOSS)





OTHER INCOME 0801

NET PROFIT/(LOSS)

SUMMARY OF PROFIT & LOSS A/C

PARTICULARS TAKA

GROSS PROFIT/(LOSS)

ADMINISTRATIVE OVERHEADS

FINANCIAL OVERHEADS



OTHER INCOME

NON-OPERATING EXPENSES

NET PROFIT/(LOSS)

TAKA

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

TAKA

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

TAKA

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

#REF!

0.00

#REF!

SUPER KNITTING & DYEING MILLS LTD.TRADING ACCOUNT

FROM 01/07/12 TO 31/07/2012


PARTICULARS NOTES TAKA

GROSS SALES 0601 #REF!

TOTAL SELLING OVERHEADS 060203 #REF!

NET SALES #REF!

COST OF GOODS SOLD #REF!

GROSS PROFIT/(LOSS) #REF!





NET SALES #REF!







NET SALES #REF!



SUMMARY OF TRADING ACCOUNT

PARTICULARS TAKA

GROSS SALES #REF!

TOTAL SELLING OVERHEADS #REF!

NET SALES #REF!


TOTAL GROSS PROFIT/(LOSS) #REF!

SUPER KNITTING & DYEING MILLS LTD.COST OF GOODS SOLD

FROM 01/07/12 TO 31/07/2012


PARTICULARS NOTES QTY.(PCS.) TAKA

MATERIALS CONSUMED/GOODS ISSUED - GARMENTS 050501 #REF!

FACTORY OVERHEADS/DIRECT COSTS - GARMENTS 050502 #REF!

RECOVERY - GARMENTS 050503 0.00

DEPRECIATION - GARMENTS 0505 562,641.00

FACTORY COST/WAREHOUSE COST #REF!

OPENING WIP STOCK 45,218,887.25

CLOSING WIP STOCK #REF!

COST OF PRODUCTION/COST OF GOODS PURCHASED #REF!

OPENING FINISHED STOCK 0.00

CLOSING FINISHED STOCK 0.00

STOCK TRANSFER 0506 0.00




MATERIALS CONSUMED/GOODS ISSUED - KNITTING & DYEING 050101 #REF!

FACTORY OVERHEADS/DIRECT COSTS - KNITTING & DYEING 050102 #REF!

RECOVERY - KNITTING & DYEING 050103 #REF!

DEPRECIATION - KNITTING & DYEING 0501 910,501.00





OPENING FINISHED STOCK 7,844,100.26

CLOSING FINISHED STOCK #REF!





MATERIALS CONSUMED/GOODS ISSUED - PRINTING 050301 #REF!

FACTORY OVERHEADS/DIRECT COSTS - PRINTING 050302 #REF!

RECOVERY - PRINTING 050303 0.00

DEPRECIATION - PRINTING 0503 299,368.00


OPENING WIP STOCK 450,465.00



OPENING FINISHED STOCK 0.00

CLOSING FINISHED STOCK 0.00



SUMMARY OF COST OF GOODS SOLD:

PARTICULARS TAKA

MATERIALS CONSUMED/GOODS ISSUED #REF!FACTORY OVERHEADS/DIRECT COSTS #REF!

RECOVERY #REF!

DEPRECIATION 1,772,510.00





OPENING FINISHED STOCK 7,844,100.26

CLOSING FINISHED STOCK #REF!

STOCK TRANSFER 0.00

TOTAL COST OF GOODS SOLD #REF!

LAND 2,577,844.00

LAND DEVELOPMENT 457,303.00

BUILDING 81,664,097.66

PLANT & MACHINARY 251,989,363.08

ELECTRIFICATION 10,655,117.00

GAS LINE INSTALLATION 2,751,470.93

GAS GENERATOR & PARTS 17,755,228.76

DEEP TUBEWELL 6,757,492.00

D M PLANT 3,154,257.65

of 74

SUPER KNITTING & DYEING MILLS LTD.#REF!

0205 INTER PROJECT CURRENT ACCOUNT

GROUP/ACCOUNT NAME NOTES SKDM STL Total

POLYTEX YARN PRODUCTS LTD. 0205 #REF! (5,959,108) #REF!

BANGLADESH TIMBER & PLYWOOD LTD. #REF! 32,051,017 #REF!

SUPER SYNTHETICS LTD. #REF! (839,843) #REF!

Total: #REF! 25,252,066 #REF!

SUPER THREAD LIMITED #REF! 108,952,754.34 #REF!


NOTES DETAILS AS ON 31/05/2012

0101 FIXED ASSETS

GROUP/ACCOUNT NAME NOTES

SUB CONTRACT DEBTORS 13,125,059.18 12,720,824.18

SUPER THREAD LIMITED SWEING THREAD 5,414,526.89 4,859,306.89

GREAT BENGAL ENTERPRISES (C & F) (2,321,029.00) (2,302,529.00)

SUPER THREAD LIMITED COTTON DYEING (15,744,200.00) (15,188,980.00)

FABRICS CONSUMPTION - GARMENTS 54,136,514.38 39,583,403.08

TOTAL BALANCE: 0.00 0.00

050502 FACTORY OVERHEADS/DIRECT COSTS - GARMENTS

PRINTING CHARGE - GARMENTS 905,774.00 1,690,164.00

TOTAL BALANCE: 0.00 0.00

0601 GROSS SALES

GROUP/ACCOUNT NAME NOTES

GROSS SALES - KNITTING & DYEING (76,094,722.59) (61,416,526.29)

GROSS SALES - PRINTING (4,465,942.97) (4,971,182.97)

404,235.00 555,220.00 (18,500.00)

(555,220.00)14,553,111.30

0.00 0.00 0.00

(784,390.00)0.00 0.00 0.00

(14,678,196.30)505,240.00

67

8 Loan from Directors Taka

ParticularsMr. M. A. TayabMr. M. A. KalamMr. M. A. BakarMr. Ahad YusufMr. Fazlul Quader

9 Long Term bank loan TakaParticularsLease Finance - Standard

Term Loan

Term Loan 00386209915

10 Short Term bank Loan Taka

ParticularsStandard BankJanata Bank

68

64,296,679

Amount (Taka) 15,261,000 12,507,952 11,798,365 11,798,364 12,930,998 64,296,679


37,799,239 50,506,104 31,323,482 119,628,825

311,852,241

Amount (Taka) 285,365,730 26,486,511 311,852,241

69

11 Creditors Taka

Liability for Goods Supply 17,767,962 (625,310) 2,416,997 Liability for expenses 47,710,811 (1,242,606)Liability for other finance 9,567,509 (2,681,208)Total 75,046,282 (4,549,124) 2,416,997

11.1 We have considered the following obligations are required to be settled.

11.1.1 Liability for Goods Supply

Particulars

Colour Line ChemicalsBagdad Polyten Store 30/07/2012Jupiter Enterprise 31/07/2012G. Electric & Engineering 31/07/2012A S International 2/05/2012G.S Trade Agency 31/07/2012Khajachemical Traders 15/05/2012Maak Solution 31/07/2012Lan Hua Yisite 29/07/2012S.A Emporium 17/07/2012A.R Tech System 29/07/2012Paramount Traders 31/07/2012Chemiteah Services 31/07/2012Asif Enterprise 31/07/2012Computer King 31/07/2012Pahartali Textail & Hosiery Mills 29/05/2012Decent Trading 18/07/2012Super Jublee 31/07/2012Auxichem 31/07/2012A.N. Textail Services 31/07/2012Global Touch 30/07/2012Texco Tech 31/07/2012E-Tec Ltd. 25/07/2012B M Engineering (Mr. Monsur) 31/07/2012Mafo 25/07/2012Dysin International Ltd. 31/07/2012Advanced Multi Trade 18/07/2012Rashed Enterprise 30/07/2012Mim Chemicals 29/07/2012Lub-Rree (Bangladesh) Ltd. 26/07/2012Mehedi Trade Enterprise 3/04/2012J E Colour - Chem 26/07/2012C & A Textail Ltd. 18/06/2012Nafiz Enterprise 17/07/2012Dystar 19/07/2012Shade Tex. Ltd. 5/06/2012

19/01/2012


Liabilities unsettled for 3 years or

more - 13.2

Improperly classified as

debtors

Last Transaction date

Dr. M L/C Maui/Skdm/001/12 (Mag Apparels USA INC)

70

Total

11.1.2 Liability for Expenses

Particulars

Outstanding Salary & Wages 31/07/2012BakhrBd Gas System Ltd. 31/07/2012Power Development Board 31/07/2012Great Bengal Enterprise (C&F) 31/07/2012Bureau Veritas 29/06/2012Parvez Transport 31/07/2012Khawja TRADERS 31/07/2012

Tax Deduction At Source (Sub-Contract) 30/06/2012M R Dey & Co. 31/12/2011A A Chowdhury & Co. 30/12/2011Chittagong On Line Ltd. 15/07/2012Novo Cargo Services (C&F) 31/07/2012

Outstanding Director Remuneration & Allowance 31/07/2012Shah Amanat Knitting & Dyeing 31/07/2012Super Thread Limited Cotton Dyeing 31/07/2012Metro Knitting 12/07/2012Income Tax Liability 27/06/2012Fedex 31/07/2012Unpaid Salary -Garments 14/07/2012Sonali Fire Foe Corporation 28/06/2012Northern General Insurance Co.Ltd. 31/07/2012Sharif Textail Industry 31/07/2012Three Star Garments & Co. 29/07/2012Excelsior Express 25/07/2012Aramex 31/07/2012Total

11.1.3 Liability for other Finance

Particulars

Visual Knitwears Limited C/A 27/05/2012Kohinoor Apparels 31/12/2011

Noor Engineering Workshop (Nurul Alam) 31/07/2012Monsur Furniture Suppliers 30/07/2012Amirul Islam (Labor Contractor) 31/07/2012AB Corporation 31/07/2012Total

11.2

11.2.1 Liability for Goods Supply

Particulars Last Transaction

Al-Din Printers 29/08/2011Chemitech Services 2000 Brought Forward



We have considered the company will not require to settel liabilities aging more thant three years. Accordingly, trade creditors held more than

three years are added back as income in the adjusted retained earning statement:

71

Orbit Steel Brought ForwardTotal

11.2.2 Liability for Expenses:


Asia Insurance Brought ForwardContinental Insurance Brought ForwardCTG Oil & Food Ltd. 30/11/2009Daf Packaging Ind. Brought ForwardDane Engineering Works Brought ForwardFarzana Steel Brought ForwardJam Thread Ltd. Brought ForwardLoyeds Insurance Co.Ltd. Brought ForwardMercantile Insurance Brought ForwardMr. Faizullah (Boiler) Brought ForwardN R Steel Brought ForwardPeoples Insurance Brought ForwardSea Electronics Brought ForwardT K Re Rolling Mills Brought ForwardT K Steel Brought ForwardRatul Engineering (ETP) 31/12/2008Water Science & Technology 09/07/2009Total

11.2.3 Liability for other Finance:


Mr. Rob (Quota Premium) Brought ForwardShort Loan Brought ForwardShort Loan (Zakat) Brought ForwardProvision For Overvalue 31/12/2011TotalTotal - liablities unsettled for three years or more

72


Restated balances

19,559,650 46,468,206 6,886,301 72,914,156

Amount (Taka)

3,129,622 1,052,625 63,000 112,700 100,000 290,000 7,200 60,000 138,000 194,680 17,000 17,000 112,400 329,500 115,480 1,721,709 102,000 41,500 5,460,060 1,944,588 79,400 1,772,108 340,575 169,250 1,512,668 1,951,802 142,500 53,500 17,400 11,500 10,000 168,000 448,594 10,000 359,435 86,117

2,416,997

73

24,558,909

Amount (Taka)

7,153,212 1,880,166 99,999 1,823,429 15,804 185,000 27,600

265,448 150,000 45,740 12,000 393,472

16,670,000 162,982 14,772,749 5 1,959,993 28,445 37,690 2,250 88,682 256,303 351,000 32,600 53,636 46,468,205

Amount (Taka)

2,920,143 249,070

266,223 3,000 276,870 3,170,995 6,886,301

Amount (Taka)

144,560 400,750

We have considered the company will not require to settel liabilities aging more thant three years. Accordingly, trade creditors held more than

74

80,000 625,310

Amount (Taka)

176,375 9,303 39,122 116,233 78,800 118,194 63,431 43,686 71,513 6,357 29,886 119,480 13,000 91,210 216,574 4,442 45,000 1,242,606

Amount (Taka)

100,512 3,739 29,875 2,547,082 2,681,208 4,549,124

01 SKDM Draft_recasted balance_sheet_21.11.2012.xlsx

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Transcript of 01 SKDM Draft_recasted balance_sheet_21.11.2012.xlsx