AGNI ICONIC PVT.LTD.

Banepa -8, Kavre, Nepal

Financial Statement

F.Y. 2078-79
 AGNI ICONIC PVT.LTD.
Banepa -8, Kavre, Nepal
Balance Sheet
As on 32nd, Aashad, 2079

Particulars Schedules Current Year Previous Year

SOURCE OF FUNDS
Capital & Reserve
Share Capital 1 65,000,000 20,000,000
Reserve & Surplus 2 (3,969,145) (422,200)
Medium & Long Term Loan 3 56,250,000 11,610,800
Total Source Of Funds 117,280,855 31,188,600
APPLICATION OF FUNDS
Fixed Assets
Net Block - -
Total Fixed Assets 4 - -
Current Assets, Loans & Advances:
Inventories 5 31,565,434 31,200,000
Trade & Other Receivables 6 1,362,740 -
Cash & Bank Balance 7 132,863 3,600
Prepaid, Loan, Advances & Deposit 8 84,259,819 -
Total Current Assets ( A ) 117,320,855 31,203,600

Less: Current Liabilities

Accounts Payable 9 40,000 15,000

Provisions 10 - -
Total Current Liabilities ( B ) 40,000 15,000

Net Current Assets ( A-B ) 117,280,855 31,188,600

Total Application of Funds 117,280,855 31,188,600

Significant Accounting Policies & Notes to the Accounts 16

As per our attached report of even date

For & On Behaf of Agni Iconic Pvt. Ltd.

CA Sital Kumar Chand

Accountant Director Principal
S.Chand & Associates
Chartered Accountants
 AGNI ICONIC PVT.LTD.
Banepa -8, Kavre, Nepal
Income Statement
For the Period From Shrawan 1st, 2078- Aashad 32nd, 2079

Particulars Schedules Current Year Previous Year

Sales 11 3,143,176 -
Other Income-Lease Rental Income 13 1,900,000 -
Total Income (A) 5,043,176 -

Less:
Cost of Goods Sold 12 3,185,648 -
Administrative & General Expenses 14 65,000 422,200
Interest Expenses 15 5,339,473 -
Depreciation 4 -
Total Indirect Expenses (B) 8,590,121 422,200
Profit Before Provision for Tax (3,546,945) (422,200)
Provision for Income Tax -
Prior Period Adjustment - -
Profit After Tax (3,546,945) (422,200)
Profit ( Loss ) upto last year (422,200)
Balance Carried to Balance Sheet (3,969,145) (422,200)

Significant Accounting Policies & Notes to the Accounts 16

As per our attached report of even date

For & On Behaf of Agni Iconic Pvt. Ltd.

CA Sital Kumar Chand

Accountant Director Principal
S.Chand & Associates
Chartered Accountants
 AGNI ICONIC PVT.LTD.
Banepa -8, Kavre, Nepal
Cash Flow Statement
For the Period From Shrawan 1st, 2078- Aashad 32nd, 2079

Particulars Current Year Previous Year

Cash Flow From Operating Activities
Net Profit After Tax (3,546,945) (422,200)
Add: Interest Expenss 5,339,473
Add: Depreciation - -
Cash Flow from Operating activities before changes in W/C 1,792,528 (422,200)

Change on Inventory (365,434) (31,200,000)

Change on trade Debtors (1,362,740)
Change on loan, advances & deposits (84,259,819)
Change on account payables 25,000 15,000
Change in Provision -
Net Cash Flow From Operating Activities (84,170,465) (31,607,200)

Cash Flow from Investing Activities

Purchase of Fixed Assets -
Sales of Fixed Assets - -
Net Cash Flow From Investing Activities - -

Cash Flow from Financing Activities

Change in Share Capital 45,000,000 20,000,000
Medium and Long Term Loan 44,639,200 11,610,800
Payment of Interest (5,339,473)
Net Cash Flow From Financing Activities 84,299,727 31,610,800

Total Cash Flow From All Activities 129,262 3,600

Opening Cash & Bank Balances 3,600

Closing Cash & Bank Balances 132,862 3,600

Significant Accounting Policies & Notes to the Accounts 16

As per our attached report of even date

For & On Behaf of Agni Iconic Pvt. Ltd.

CA Sital Kumar Chand

Accountant Director Principal
S.Chand & Associates
Chartered Accountants
 AGNI ICONIC PVT.LTD.
Banepa -8, Kavre, Nepal
Statement of Changes in Equity
As on 32nd, Aashad, 2079

Share Revaluation
Particulars Share Capital Retained Earnings Other Reserves Total
Premium Reserves

Opening Balance 65,000,000 - - (422,200) 64,577,800

Changes in Accounting Policy - - - - - -

Restated Balance 65,000,000 - - (422,200) - 64,577,800

Profit for the Year - - - (3,546,945) - (3,546,945)

Transferred to General Reserves - - - - - -

-
Dividend to shareholders - - - - - -

Shares Issued - - - - - -

Closing Balance 65,000,000 - - (3,969,145) - 61,030,855

 AGNI ICONIC PVT.LTD.
Schedules forming part of the Financial Statements
Schedule 4 : Property, Plant & Equipment

Addition during the Year Depreciation Net WDV

Depn Opening Disposal/ Total (Opening
S.N. Particulars Magh to Baishak to On opening Previous Year
Rate Balance Up to Poush Transfer +Addition) During the Year Total Current Year NPR
Chaitra Ashad balance NPR
1 Block A 5%
Building - - - - - - - - - - -
Structural Development - - - - - - - - - - -
Immovable Property - - - - - - - - - - -
Sub-Total - - - - - - - - - - -
2 Block B 25%
Furniture & Furnishings - - - - - - - - -
Office Equipment's - - - - - - - - -
Computer Set - - - - - - - - - - -
Sub-Total - - - - - - - - - - -
3 Block C 20%
Vehicle - - - - - - - - - -
- - - - - - - - - - -
Sub-Total - - - - - - - - - - -
4 Block D 15%
Other Assets - - - - - - - - - - -
Sub-Total - - - - - - - - - - -
Total - - - - - - - - - - -
 AGNI ICONIC PVT.LTD.
Banepa -8, Kavre, Nepal
Schedules forming part of the Financial Statements
Proprietor's Fund Schedule 1
Particulars Current Year Previous Year
Authorized Share Capital
700,000/200,000 Equity Share @ Rs 100 each 70,000,000 20,000,000
Issued Share Capital
650,000/200,000 Equity Share @ Rs 100 each 65,000,000 20,000,000
Paid Up Capital
650,000/200,000 Equity Share @ Rs 100 each 65,000,000 20,000,000
Total 65,000,000 20,000,000

Reserve and Surplus Schedule 2

Particulars Current Year Previous Year
Opening Balance (422,200)
Add : During the year (3,546,945) (422,200)
Total (3,969,145) (422,200)
Mid & Long Term Loan Schedule 3

Particulars Current Year Previous Year

Loan 56,250,000 11,610,800
Total 56,250,000 11,610,800

Inventories Schedule 5

Particulars Current Year Previous Year

Inventories- Land 31,200,000 31,200,000
Inventories- Share 365,434
Total 31,565,434 31,200,000

Trade & Other Receivables Schedule 6

Particulars Current Year Previous Year
Receivables 1,000,000 -
Receivable from Broker against share sells 362,740 -
Total 1,362,740 -

Cash & Bank Balance Schedule 7

Particulars Current Year Previous Year
Cash In Hand & Bank 132,863 3,600
Total 132,863 3,600

Prepaid, Loan, Advance & Deposits Schedule 8

Particulars Current Year Previous Year

Advance For Land 84,258,327 -
Staff Advances -
Advance TDS 1,492 -
Total 84,259,819 -

Account Payable Schedule 9

Particulars Current Year Previous Year

Audit Fee Payable 39,469 14,801
TDS Payable (Audit) 531 199
Total 40,000 15,000
 AGNI ICONIC PVT.LTD.
Banepa -8, Kavre, Nepal
Schedules forming part of the Financial Statements

Provisions Schedule 10

Particulars Current Year Previous Year

Provision for Income Tax - -
Total - -

Sales Schedule 11

Particulars Current Year Previous Year

Sales of Share 3,143,176 -
Total 3,143,176 -

Cost of Goods Sold Schedule 12

Particulars Current Year Previous Year

Opening Stock 31,200,000 -
Purchase of Land - 30,000,000
Purchase of Share 3,551,082
Royalty - 1,200,000
Less: Closing Stocks-Share (365,434)
Less: Closing Stocks-Land (31,200,000) (31,200,000)
Total 3,185,648 -

Other Income Schedule 13

Particulars Current Year Previous Year

Rental Income From Lease 1,900,000 -
Total 1,900,000 -

Administrative Expenses Schedule 14

Particulars Current Year Previous Year

Audit Fee 40,000 15,000
Rent 25,000 25,000
Registration Expenses 30,000
Bank Service Subscription Charge Expenses 352,200
Total 65,000 422,200

Financial Expenses Schedule 15 Schedule 15

Particulars Current Year Previous Year

Interest Expenses 5,339,473 -
Bank Charges -
Total 5,339,473 -
 AGNI ICONIC PVT.LTD.
For the Period From Shrawan 1st, 2078- Aashad 32nd, 2079
Computation of Taxable Income and Income Tax

SN Particulars Amt Rate Amount (Rs)

(i) Profit As per Profit and Loss Account (EBT) -

Add Back: Non-admissible Expenses

Gift and Donation - -
Penalty, Fee & Charges - -
Miscellaneous Expenses (Disallowed Expenses) - -
Taxable Income from Business -

Total Taxable Income -

(iv) Less: Carry Forward Loss of Previous Year -
F.Y 2076-77 -
F.Y 2075-76 - -
F.Y 2074-75 -
Net Taxable Income -
Corporate Tax on Slab Basis
Upto 400,000 400,000.00 0% -
For First Rs 100,000/- 100,000.00 10% -
For Next 200,000/- (4,046,944.70) 20% -
- 30% -
Total (ii+iii) -
Penalty for non-filing of Returns on Time u/s 117 (+)
(iv) U/s 117
(v)
For delay in Payment of Advance tax (u/s 118) (+) -
First Installment -
(vi) Second Installment -
Third Installment -
From 1st Magh to Till payment) (u/s 119) -
(vii) Total Provision for Tax and Penalty -
Advance Tax Including TDS Deduction on Bank -
(viii) Advance Tax during the year -
(ix) Excess Tax paid for Previous Year (Credit Transfer if Any) -
TDS From Bank & Parties -
Net Tax Amount to be paid (viii-ix) -
(x) Carry Forward Loss for next year -
 AGNI ICONIC PVT.LTD.
VAT Reconcilation for F.Y. 2075-76

As per VAT Return As per Books of Account Difference As per VAT Return As per Books of Account Difference
Month
Sales VAT Sales-Vatable Non Vatable Total Sales VAT Purchase VAT Purchase VAT
Shrawan - - - - - - - - - - -
Bhadra - - - - - - - - - - -
Ashoj - - - - - - 101,809 13,235 101,809 13,235 -
Kartik - - - - - - - - - - -
Manshir - - - - - - - - - - -
Paush - - - - - - - - - - -
Magh - - - - - - - - - - -
Falgun - - - - - - - - - - -
Chaitra - - - - - - - - - - -
Baishak - - - - - - - - - -
Jestha - - - - - - - - - - -
Ashad 2,322,991 301,989 2,618,717 471,636 3,090,353 340,433 38,444 1,059,700 137,761 1,059,695 137,760 5
Total 2,322,991 301,989 2,618,717 471,636 3,090,353 340,433 38,444 1,161,509 150,996 1,161,504 150,996 5
Bill no. 06 dated 2076/03/23 is adjusted in the month of Shrawan 38,444 5

Sales Reconciliation
S.N. Sales Amount
1 As per Books 3,090,353
2 As per Return 2,322,991
3 Difference 767,362

Less: Non-Vatable 471,636 Non VATABLE and not entered in VAT Return,adjusted in poush return
Bill No.06 295,726 Adjusted in return in the month of Shrawan 2076

VAT Reco
Net
VAT Amount/VAT
Particulars VAT Payable Receivable Payable
As per Return 301,989 150,996 150,993
As per Books 340,433 150,996 189,438
Difference 38,445 Adjusted in next month
 AGNI ICONIC PVT.LTD.
F.Y.2075-76
Computation of Taxable Income and Income Tax

SN Particulars Amt Rate Amount (Rs)

(i) Profit As per Profit and Loss Account (EBT) (3,969,144.69)

(ii) Add Back: Non-admissible Expenses

Gift and Donation -
Penalty, Fee & Charges -
Miscellaneous Expenses (Disallowed Expenses) - -
Taxable Income from Business (3,969,144.69)

Total Taxable Income(A) (3,969,144.69)

Net Total Taxable Income (A)-(B) (3,969,144.69)
Corporate Tax 25% (992,286.17)
Set off of Losses(B)
F.Y. 2072-73 -
(iii) F.Y. 2073-74 -
F.Y. 2074-75 -

Total (ii+iii) (992,286.17)

Penalty for non-filing of Returns on Time u/s 117 (+)
(iv) U/s 117
(v) -
For delay in Payment of Advance tax (u/s 118) (+) -
First Installment -
(vi) Second Installment -
Third Installment -

From 1st Magh to Till payment) (u/s 119) -

(vii) Total Provision for Tax and Penalty (992,286.17)

Advance Tax Including TDS Deductions Err:509
(viii) Advance Tax during 2075-76 Err:509
(ix) Excess Tax paid for Previous Year (Credit Transfer if Any) Err:509
TDS From Bank & Parties 39,279.00
Net Tax Amount to be paid (viii-ix) Err:509