JSL Accounts 09-10

8/8/2019 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

1


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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


4

Chief Executive Officer

As per our annexed report of even date

2


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381,017

9,375,503


Howladar Yunus & Co



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


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)


7,415,029

7,785,780

200,765

TK.

(28,941) (258,463)

25,469,923


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


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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


2009 - 2010

STATEMENT OF CASH FLOWS


(3,341,583) (3,378,472)

9,559,405

(22,474,998)

(12,368,844) (5,238,802)

Chairman


CASH FLOWS FROM OPERATING ACTIVITIES



1,061,649

(12,368,844)

707,431,530

Place : Dhaka Chartered Accountants


(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)


(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


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)


4


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11,599,493


STATEMENT OF CHANGES IN EQUITY


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


Balance on 30th June, 2009 Tk. 17,000,000 (5,400,507) -


Earnings

Retained

Howladar Yunus & Co


Chairman

Proposed

Capital

Short provision of Income Tax (568,524)

6,346,562-

Balance on 30th June, 2010 Tk.

-





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


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.



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


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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8/17

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:


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)

8


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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


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

9


10/17

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


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%

10


11/17

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


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 :


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


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:

12


13/17


14/17


15/17

.03 MANUFACTURING OVERHEAD - TK. 115,774,500 :


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.


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.


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


16/17

a) Salary and allowances include the following :

Bonus

Gratuity

b) Category-wise information in respect of Salary of employees:

4 Nos.

38 Nos.

15.


16.


17. OTHER INCOME - TK. 381,017 :


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


827,100

630,480

FINANCIAL EXPENSES - TK. 27,561,947 :

SELLING & DISTRIBUTION EXPENSES - TK. 17,053,138 :

2009 - 2010

16


17/17

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

-


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'


1,560,000


Documents

JSL Accounts 09-10