|
|
REGISTRATION
NO.
|
:
|
200710500-N
|
|
COMPANY NAME
|
:
|
EMCE PTE. LTD.
|
|
FORMER NAME
|
:
|
CAIRON ASIA
PACIFIC PTE. LTD. (22/09/2008)
|
|
INCORPORATION
DATE
|
:
|
13/06/2007
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE
LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED
ADDRESS
|
:
|
1 NORTH BRIDGE
ROAD, 11-06, HIGH STREET CENTRE, 179094, SINGAPORE.
|
|
BUSINESS
ADDRESS
|
:
|
1 NORTH BRIDGE
ROAD, 11-06 HIGH STREET CENTRE, 179094, SINGAPORE.
|
|
TEL.NO.
|
:
|
65-81277156
|
|
FAX.NO.
|
:
|
N/A
|
|
CONTACT PERSON
|
:
|
DALAL BHAVESH
KAMLESH ( DIRECTOR )
|
|
|
|
|
|
|
|
|
|
PRINCIPAL
ACTIVITY
|
:
|
DEVELOPMENT OF
E-COMMERCE APPLICATIONS
|
|
|
|
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
50,000.00
ORDINARY SHARE, OF A VALUE OF SGD 50,000.00
|
|
|
|
|
|
SALES
|
:
|
USD 3,033,455
[2013]
|
|
NET WORTH
|
:
|
USD 1,396,478
[2013]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
N/A
|
|
LITIGATION
|
:
|
CLEAR
|
|
FINANCIAL
CONDITION
|
:
|
STRONG
|
|
PAYMENT
|
:
|
PROMPT
|
|
MANAGEMENT
CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL
RISK
|
:
|
LOW
|
|
CURRENCY
EXPOSURE
|
:
|
MODERATE
|
|
GENERAL
REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY
OUTLOOK
|
:
|
MARGINAL
GROWTH
|
The Subject is a private limited company and
is allowed to have a minimum of one and a maximum of forty-nine shareholders.
As a private limited company, the Subject must have at least two directors. A
private limited company is a separate legal entity from its shareholders. As
a separate legal entity, the Subject is capable of owning assets, entering
into contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject
is insolvent. The Subject is governed by the Companies Act and the company
must file its annual returns, together with its financial statements with the
Registrar of Companies.
The Subject is principally engaged in the
(as a / as an) development of e-commerce applications.
The immediate holding company of the
Subject is SHREENATH SMART TECHNOLOGIES PRIVATE LIMITED, a company
incorporated in INDIA.
Share Capital History
|
Date
|
Authorised
Shared Capital
|
Issue &
Paid Up Capital
|
|
22/09/2014
|
SGD 50,000.00
|
SGD 50,000.00
|
The major
shareholder(s) of the Subject are shown as follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
SHREENATH
SMART TECHNOLOGIES PRIVATE LIMITED
|
P1/41, VARUN APARTMENTS,
VASANTBAUH OPP, GULBAI TEKRA PUMPING, STATION AHMEDABAD, 380 006, GUJARAT,
INDIA.
|
T10UF0484E
|
50,000.00
|
100.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
50,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTOR 1
|
Name Of
Subject
|
:
|
DALAL BHAVESH
KAMLESH
|
|
Address
|
:
|
112, EDGEFIELD
PLAINS, 03-378, 820112, SINGAPORE.
|
|
IC / PP No
|
:
|
S7684573E
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
01/12/2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1)
|
Name of
Subject
|
:
|
DALAL BHAVESH
KAMLESH
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
|
Auditor
|
:
|
CHNG WEE YIN
& CO
|
|
Auditor' Address
|
:
|
N/A
|
|
|
|
|
|
|
|
|
|
1)
|
Company
Secretary
|
:
|
WONG HONG JUAN
|
|
|
IC / PP No
|
:
|
S0007782H
|
|
|
|
|
|
|
|
Address
|
:
|
18, THOMSON
WALK, HAPPY PARK, 574465, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2)
|
Company
Secretary
|
:
|
EUNICE CHAN
HEE NOI
|
|
|
IC / PP No
|
:
|
S1791023Z
|
|
|
|
|
|
|
|
Address
|
:
|
230E, TAMPINES
STREET 24, 07-49, 528230, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
LEGAL CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the subject
has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
|
SOURCES OF RAW
MATERIALS:
|
|
Local
|
:
|
N/A
|
|
Overseas
|
:
|
N/A
|
|
|
|
|
The Subject is a service provider.
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data
we conclude that :
|
OVERALL
PAYMENT HABIT
|
|
Prompt 0-30
Days
|
[
|
X
|
]
|
|
Good 31-60
Days
|
[
|
|
]
|
|
Average 61-90
Days
|
[
|
|
]
|
|
|
Fair 91-120
Days
|
[
|
|
]
|
|
Poor >120
Days
|
[
|
|
]
|
|
|
|
|
|
|
|
Local
|
:
|
YES
|
|
Domestic
Markets
|
:
|
SINGAPORE
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
ASIA
|
|
Credit Term
|
:
|
N/A
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES
TELEGRAPHIC TRANSFER (TT)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Services
|
:
|
|
DEVELOPMENT
OF E-COMMERCE APPLICATIONS
|
|
|
|
|
|
|
Total Number
of Employees:
|
|
YEAR
|
2013
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
1
|
|
|
|
|
|
|
|
|
Other Information:
The Subject is principally engaged in the (as a / as an) development of
e-commerce applications.
The Subject is involve in development of e-commerce applications.
Latest fresh investigations carried out on the Subject indicated that
:
|
Telephone
Number Provided By Client
|
:
|
N/A
|
|
Current
Telephone Number
|
:
|
65-81277156
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address
Provided by Client
|
:
|
1 NORTH BRIDGE
ROAD, # 11-06, HIGH STREET CENTRE SINGAPORE 179094 SINGAPORE
|
|
Current
Address
|
:
|
1 NORTH BRIDGE
ROAD, 11-06 HIGH STREET CENTRE, 179094, SINGAPORE.
|
|
Match
|
:
|
YES
|
|
|
|
|
Other
Investigations
On 1st October 2014 we contacted one of the staff from the Subject and she
provided some information on the Subject.
The Subject refused to disclose its fax, number of employees and its banker.
|
Profitability
|
|
|
|
|
|
|
|
Turnover
|
:
|
Decreased
|
[
|
2010 - 2013
|
]
|
|
|
Profit/(Loss)
Before Tax
|
:
|
Increased
|
[
|
2010 - 2013
|
]
|
|
|
Return on
Shareholder Funds
|
:
|
Favourable
|
[
|
31.09%
|
]
|
|
|
Return on Net
Assets
|
:
|
Favourable
|
[
|
34.09%
|
]
|
|
|
|
|
|
|
|
|
|
|
The continuous
fall in turnover could be due to the lower demand for the Subject's
products / services.The Subject's management have been efficient in
controlling its operating costs. Generally the Subject was profitable. The favourable
return on shareholders' funds and return on net assets indicate that the
Subject's management was efficient in utilising the assets to generate
returns.
|
|
|
|
|
|
|
|
|
|
Working
Capital Control
|
|
|
|
|
|
|
|
Stock Ratio
|
:
|
Favourable
|
[
|
23 Days
|
]
|
|
|
Debtor Ratio
|
:
|
Unfavourable
|
[
|
90 Days
|
]
|
|
|
Creditors
Ratio
|
:
|
Favourable
|
[
|
2 Days
|
]
|
|
|
|
|
|
|
|
|
|
|
The Subject's stocks
were moving fast thus reducing its holding cost. This had reduced funds
being tied up in stocks. The Subject's debtors ratio was high. The Subject
should tighten its credit control and improve its collection period. The
Subject had a favourable creditors' ratio where the Subject could be taking
advantage of the cash discounts and also wanting to maintain goodwill with
its creditors.
|
|
|
|
|
|
|
|
|
|
Liquidity
|
|
|
|
|
|
|
|
Liquid Ratio
|
:
|
Favourable
|
[
|
20.09 Times
|
]
|
|
|
Current Ratio
|
:
|
Favourable
|
[
|
23.16 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
A minimum
liquid ratio of 1 should be maintained by the Subject in order to assure
its creditors of its ability to meet short term obligations and the Subject
was in a good liquidity position. Thus, we believe the Subject is able to
meet all its short term obligations as and when they fall due.
|
|
|
|
|
|
|
|
|
|
Solvency
|
|
|
|
|
|
|
|
Interest Cover
|
:
|
Nil
|
[
|
0.00 Times
|
]
|
|
|
Gearing Ratio
|
:
|
Favourable
|
[
|
0.00 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
The Subject's
interest cover was nil as it did not pay any interest during the year. The
Subject had no gearing and hence it had virtually no financial risk. The Subject
was financed by its shareholders' funds and internally generated fund.
During the economic downturn, the Subject, having a zero gearing, will be
able to compete better than those which are highly geared in the same
industry.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall
Assessment :
|
|
|
|
|
|
|
|
Due to the
efficient control of its operating costs, the Subject was able to remain
profitable despite lower turnover achieved during the year. The Subject was
in good liquidity position with its total current liabilities well covered
by its total current assets. With its current net assets, the Subject
should be able to repay its short term obligations. The Subject did not
make any interest payment during the year. The Subject was dependent on its
shareholders' funds to finance its business needs. The Subject was a zero
gearing company, it was solely dependant on its shareholders to provide
funds to finance its business. The Subject has good chance of getting loans,
if the needs arises.
|
|
|
|
|
|
|
|
|
|
Overall
financial condition of the Subject : STRONG
|
|
|
SINGAPORE ECONOMIC / INDUSTRY
OUTLOOK
|
|
Major Economic
Indicators :
|
2009
|
2010
|
2011
|
2012
|
2013
|
|
|
|
|
|
|
|
|
Population
(Million)
|
4.98
|
5.08
|
5.18
|
5.31
|
5.40
|
|
Gross Domestic
Products ( % )
|
(0.8)
|
14.5
|
4.9
|
1.3
|
3.7
|
|
Consumer Price
Index
|
0.6
|
2.8
|
5.2
|
4.6
|
2.4
|
|
Total Imports
(Million)
|
356,299.3
|
423,221.8
|
459,655.1
|
474,554.0
|
466,762.0
|
|
Total Exports
(Million)
|
391,118.1
|
478,840.7
|
514,741.2
|
510,329.0
|
513,391.0
|
|
|
|
|
|
|
|
|
Unemployment
Rate (%)
|
3.2
|
2.2
|
2.1
|
2.0
|
1.9
|
|
Tourist
Arrival (Million)
|
9.68
|
11.64
|
13.17
|
14.49
|
15.46
|
|
Hotel
Occupancy Rate (%)
|
75.8
|
85.6
|
86.5
|
86.4
|
86.3
|
|
Cellular Phone
Subscriber (Million)
|
1.37
|
1.43
|
1.50
|
1.52
|
1.97
|
|
|
|
|
|
|
|
|
Registration
of New Companies (No.)
|
26,414
|
29,798
|
32,317
|
31,892
|
37,288
|
|
Registration
of New Companies (%)
|
4.3
|
12.8
|
8.5
|
(1.3)
|
9.8
|
|
Liquidation of
Companies (No.)
|
22,393
|
15,126
|
19,005
|
17,218
|
17,369
|
|
Liquidation of
Companies (%)
|
113.4
|
(32.5)
|
25.6
|
9.4
|
(5.3)
|
|
|
|
|
|
|
|
|
Registration
of New Businesses (No.)
|
26,876
|
23,978
|
23,494
|
24,788
|
22,893
|
|
Registration
of New Businesses (%)
|
8.15
|
(10.78)
|
2.02
|
5.51
|
1.70
|
|
Liquidation of
Businesses (No.)
|
23,552
|
24,211
|
23,005
|
22,489
|
22,598
|
|
Liquidation of
Businesses (%)
|
11.4
|
2.8
|
(5)
|
(2.2)
|
0.5
|
|
|
|
|
|
|
|
|
Bankruptcy
Orders (No.)
|
2,058
|
1,537
|
1,527
|
1,748
|
1,992
|
|
Bankruptcy
Orders (%)
|
(11.5)
|
(25.3)
|
(0.7)
|
14.5
|
14.0
|
|
Bankruptcy
Discharges (No.)
|
3,056
|
2,252
|
1,391
|
1,881
|
2,584
|
|
Bankruptcy
Discharges (%)
|
103.7
|
(26.3)
|
(38.2)
|
35.2
|
37.4
|
|
|
|
|
|
|
|
|
INDUSTRIES ( %
of Growth ) :
|
|
|
|
|
|
|
Agriculture
|
|
|
|
|
|
|
Production of
Principal Crops
|
3.25
|
(0.48)
|
4.25
|
3.64
|
-
|
|
Fish Supply
& Wholesale
|
(1.93)
|
(10.5)
|
12.10
|
(0.5)
|
-
|
|
|
|
|
|
|
|
|
Manufacturing
*
|
71.5
|
92.8
|
100.0
|
100.3
|
102.0
|
|
Food,
Beverages & Tobacco
|
90.4
|
96.4
|
100.0
|
103.5
|
103.5
|
|
Textiles
|
145.9
|
122.1
|
100.0
|
104.0
|
87.1
|
|
Wearing
Apparel
|
211.0
|
123.3
|
100.0
|
92.1
|
77.8
|
|
Leather
Products & Footwear
|
79.5
|
81.8
|
100.0
|
98.6
|
109.8
|
|
Wood &
Wood Products
|
101.4
|
104.0
|
100.0
|
95.5
|
107.4
|
|
Paper &
Paper Products
|
95.4
|
106.1
|
100.0
|
97.4
|
103.2
|
|
Printing &
Media
|
100.9
|
103.5
|
100.0
|
93.0
|
86.1
|
|
Crude Oil
Refineries
|
96.4
|
95.6
|
100.0
|
99.4
|
93.5
|
|
Chemical &
Chemical Products
|
80.3
|
97.6
|
100.0
|
100.5
|
104.1
|
|
Pharmaceutical
Products
|
49.1
|
75.3
|
100.0
|
109.7
|
107.2
|
|
Rubber &
Plastic Products
|
101.2
|
112.3
|
100.0
|
96.5
|
92.9
|
|
Non-metallic
Mineral
|
91.9
|
92.5
|
100.0
|
98.2
|
97.6
|
|
Basic Metals
|
92.6
|
102.2
|
100.0
|
90.6
|
76.5
|
|
Fabricated
Metal Products
|
90.8
|
103.6
|
100.0
|
104.3
|
105.1
|
|
Machinery
& Equipment
|
57.3
|
78.5
|
100.0
|
112.9
|
114.5
|
|
Electrical
Machinery
|
86.8
|
124.1
|
100.0
|
99.3
|
108.5
|
|
Electronic
Components
|
85.2
|
113.6
|
100.0
|
90.6
|
94.3
|
|
Transport
Equipment
|
96.0
|
94.0
|
100.0
|
106.3
|
107.5
|
|
|
|
|
|
|
|
|
Construction
|
(36.9)
|
14.20
|
20.50
|
28.70
|
-
|
|
Real Estate
|
1.4
|
21.3
|
25.4
|
31.9
|
-
|
|
|
|
|
|
|
|
|
Services
|
|
|
|
|
|
|
Electricity,
Gas & Water
|
1.70
|
4.00
|
7.00
|
6.30
|
-
|
|
Transport,
Storage & Communication
|
3.90
|
12.80
|
7.40
|
5.30
|
-
|
|
Finance &
Insurance
|
(16.4)
|
(0.4)
|
8.90
|
0.50
|
-
|
|
Government
Services
|
4.50
|
9.70
|
6.90
|
6.00
|
-
|
|
Education
Services
|
0.10
|
(0.9)
|
(1.4)
|
0.30
|
-
|
|
|
|
|
|
|
|
|
* Based on Index
of Industrial Production (2011 = 100)
|
|
|
|
|
|
|
INDUSTRY :
|
ECONOMY
|
|
|
|
|
|
|
According to Ministry
of Trade and Industry (MTI), the Singapore economy is expected to grow by
1.0 to 3.0% in 2013 as growth in the global economy is likely to remain
subdued despite macroeconomic conditions stablising in recent months of
2013.
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However, the global
economic outlook is still clouded with uncertainties. Notably, concerns
remain over the extent of the fiscal cutback with the budget sequester in
the US and potential flareup of the debt crisis in the Eurozone. Should any
of these risks materialise, Singapore's economic growth could come in lower
than expected.
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Although
resilient domestic demand in emerging Asia will provide some support to
global demand, it will not fully mitigate the effects of an economic slowdown
in the advanced economies. Consequently, Singapore's externally-oriented
sectors such as electronics and wholesale trade will continue to perform
poorly, while the financial services sector will be affected by heightened
uncertainties in the external environment. Nevertheless, there will be some
modest support to growth from the biomedical manufacturing cluster and
tourism-related sectors. The former will likely see increased production of
active pharmaceutical ingredients and biologics while the latter will
benefit from rising visitor arrivals from the region.
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For the whole
of 2012, Singapore's GDP growth slowed to 1.3%, from 5.2% in 2011, mainly
due to weakness in the externally-oriented sectors. Manufacturing sector
growth slowed sharply from 7.8% in the year 2011 to 0.1%. The hudge decline
was largely due to a rebound in the output of the biomedical manufacturing
and transport engineering clusters, which together helped to mitigate part
of the fall in output in the electronics cluster. By contrast, the
construction sector growth accelerated from 6.3% to 8.2% in 2012, due to
the expansion in both public and private building activities.
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Growth in the
services producing industries also moderated to 1.2% in 2012, compared to
4.6% in 2011. This was mainly due to the slowdown in wholesale and retail
trade, accommodation and food services as well as other services
industries. In particular, the wholesale and retail trade sector contracted
by 0.7%, compared to the 1.6% growth in year 2011. The accommodation and
food services as well as other services industries posted lower gains of
2.8% and 0.1% respectively, compared to 8.2% and 6.3% in 2011.
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For the whole
of 2012, all sectors, except the wholesale and retail trade, contributed to
growth. Business services was the largest contributor with 0.4
percentage-points, followed by construction with 0.3 percentage-points and
transportation and storage at 0.2 percentagepoints. Besides, growth in
total demand moderated to 2.4%, compared to 4.2% in 2011. Domestic demand
was the key contributor to total demand growth, accounting for 2.2
percentage-points, or over 90 per cent, of the increase.
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In 2012, total
domestic demand rose by 9.7%, following the 6.5% increase in 2011. The growth
in total domestic demand was broad-based across consumption, gross fixed
capital formation (GFCF) and changes in inventories. The total consumption
expenditure in 2012 grew slightly by 0.9%, easing from the 3.7% growth in
2011. Public consumption expenditure fell by 3.6%, reversing the 0.5%
growth in 2011. Private consumption expenditure registered a 2.2% gain,
moderating from the 4.6% increase in the preceding year.
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Overall, the
Singapore economy is expected to grow by 1.0 to 3.0% in 2013.
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OVERALL
INDUSTRY OUTLOOK : MARGINAL GROWTH
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CREDIT RISK EVALUATION &
RECOMMENDATION
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Incorporated in 2007, the Subject is a Private Limited company, focusing on
development of e-commerce applications. Having been in business for more
than 5 years, the Subject has established a remarkable clientele base for
itself which has contributed to its business growth. The Subject's issued
and paid-up capital is only SGD 50,000. Without a strong capital, the
business expansion opportunities of the Subject is limited. However, its
having strong support from its holding company has enabled the Subject to
remain competitive despite the challenging business environment.
Over the years, the Subject has penetrated into both the local and overseas
market. The Subject has positioned itself in the global market and is
competing in the industry. Its stable clientele base will enable the
Subject to further enhance its business in the near term. Overall, we
regard that the Subject's management capability is average. This indicates
that the Subject has greater potential to improve its business performance
and raising income for the Subject.
Despite the lower turnover, the Subject's pre-tax profit have increased
compared to the previous year. The higher profit could be due to better
control of its operating costs and efficiency in utilising its resources.
Based on the higher profitability, the Subject has generated a favourable
return based on its existing shareholders' funds which indicated that the
management was efficient in utilising its funds to generate income. The
Subject is in good liquidity position with its current liabilities well
covered by it current assets. Hence, it has sufficient working capital to
meet its short term financial obligations. Being a zero geared company, the
Subject virtually has no financial risk as it is mainly dependent on its
internal funds to finance its business. Given a positive net worth standing
at USD 1,396,478, the Subject should be able to maintain its business in
the near terms.
Having a strong assets backing, the Subject possesses latent assets as
collateral for further financial extension. Hence, it has good chance of
getting loans if the needs arises.
We regard that the Subject's overall payment habit is prompt. The Subject
had a favourable creditors' ratio as evidenced by its favourable collection
days.
The industry has reached its maturity stage and only enjoying a marginal
growth. The steady growth of the country's economy will further enhance the
industry activities. Thus, the Subject's future performance is very much
depend on its marketing strategies in order to retain its position in the
market.
Based on the above strong financial condition, we recommend credit be
granted to the Subject promptly.
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THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS.
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EMCE PTE. LTD.
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Financial
Year End
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2013-03-31
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2012-03-31
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2011-03-31
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2010-03-31
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Months
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12
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12
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12
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12
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Consolidated
Account
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Company
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Company
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Company
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Company
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Audited
Account
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YES
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YES
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YES
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YES
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Unqualified
Auditor's Report (Clean Opinion)
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YES
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YES
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YES
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YES
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Financial Type
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FULL
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FULL
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FULL
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FULL
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Currency
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USD
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USD
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USD
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USD
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TURNOVER
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3,033,455
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3,577,461
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3,598,917
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142,753
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----------------
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----------------
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----------------
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----------------
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Total Turnover
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3,033,455
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3,577,461
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3,598,917
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142,753
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Costs of Goods
Sold
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-
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-
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-
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(27,603)
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----------------
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----------------
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----------------
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----------------
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Gross Profit
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-
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-
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-
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115,150
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----------------
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----------------
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----------------
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----------------
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PROFIT/(LOSS)
FROM OPERATIONS
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476,112
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474,853
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598,310
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85,499
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----------------
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----------------
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----------------
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----------------
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PROFIT/(LOSS) BEFORE
TAXATION
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476,112
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474,853
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598,310
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85,499
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Taxation
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(42,000)
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(59,883)
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(86,798)
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-
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----------------
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----------------
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----------------
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----------------
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PROFIT/(LOSS)
AFTER TAXATION
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434,112
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414,970
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511,512
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85,499
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----------------
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----------------
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----------------
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----------------
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RETAINED
PROFIT/(LOSS) BROUGHT FORWARD
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As previously
reported
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926,639
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511,669
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157
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(51,291)
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Prior year
adjustment
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-
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-
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-
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(51)
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----------------
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----------------
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----------------
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----------------
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As restated
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926,639
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511,669
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157
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(51,342)
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----------------
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----------------
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----------------
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----------------
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PROFIT
AVAILABLE FOR APPROPRIATIONS
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1,360,751
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926,639
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511,669
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34,157
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DIVIDENDS -
Ordinary (paid & proposed)
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-
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-
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-
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(34,000)
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----------------
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----------------
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----------------
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----------------
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RETAINED
PROFIT/(LOSS) CARRIED FORWARD
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1,360,751
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926,639
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511,669
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157
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=============
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=============
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=============
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========
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Stocks
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193,083
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9,334
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-
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-
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Trade debtors
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752,111
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402,745
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646,427
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-
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Other debtors,
deposits & prepayments
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29,653
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41,809
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12,000
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8,583
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Amount due
from director
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-
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-
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-
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3,000
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Cash &
bank balances
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484,662
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588,433
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84,696
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47,507
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----------------
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----------------
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----------------
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----------------
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TOTAL CURRENT
ASSETS
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1,459,509
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1,042,321
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743,123
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59,090
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----------------
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----------------
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----------------
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----------------
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TOTAL ASSET
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1,459,509
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1,042,321
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743,123
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59,090
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=============
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=============
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=============
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=============
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CURRENT
LIABILITIES
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Trade
creditors
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16,599
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1,820
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98,271
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6,987
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Other
creditors & accruals
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5,718
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5,668
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10,655
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1,895
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Provision for
taxation
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40,714
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72,467
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86,801
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-
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----------------
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----------------
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----------------
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----------------
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TOTAL CURRENT
LIABILITIES
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63,031
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79,955
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195,727
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8,882
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----------------
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----------------
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----------------
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----------------
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NET CURRENT ASSETS/(LIABILITIES)
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1,396,478
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962,366
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547,396
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50,208
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----------------
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----------------
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----------------
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----------------
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TOTAL NET
ASSETS
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1,396,478
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962,366
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547,396
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50,208
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=============
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=============
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=============
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=============
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SHARE CAPITAL
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Ordinary share
capital
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35,727
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35,727
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35,727
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50,000
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----------------
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----------------
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----------------
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----------------
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TOTAL SHARE
CAPITAL
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35,727
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35,727
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35,727
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50,000
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Retained
profit/(loss) carried forward
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1,360,751
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926,639
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511,669
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157
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----------------
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----------------
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----------------
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----------------
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TOTAL RESERVES
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1,360,751
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926,639
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511,669
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208
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----------------
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----------------
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----------------
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----------------
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SHAREHOLDERS'
FUNDS/EQUITY
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1,396,478
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962,366
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547,396
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50,208
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----------------
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----------------
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----------------
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----------------
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1,396,478
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962,366
|
547,396
|
50,208
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=============
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=============
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=============
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=============
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TYPES OF FUNDS
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Cash
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484,662
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588,433
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84,696
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47,507
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Net Liquid
Funds
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484,662
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588,433
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84,696
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47,507
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Net Liquid
Assets
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1,203,395
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953,032
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547,396
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50,208
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Net Current
Assets/(Liabilities)
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1,396,478
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962,366
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547,396
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50,208
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Net Tangible Assets
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1,396,478
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962,366
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547,396
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50,208
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Net Monetary
Assets
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1,203,395
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953,032
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547,396
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50,208
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BALANCE SHEET
ITEMS
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Total
Borrowings
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0
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0
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0
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0
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Total
Liabilities
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63,031
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79,955
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195,727
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8,882
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Total Assets
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1,459,509
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1,042,321
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743,123
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59,090
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Net Assets
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1,396,478
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962,366
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547,396
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50,208
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Net Assets
Backing
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1,396,478
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962,366
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547,396
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50,208
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Shareholders'
Funds
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1,396,478
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962,366
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547,396
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50,208
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Total Share
Capital
|
35,727
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35,727
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35,727
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50,000
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Total Reserves
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1,360,751
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926,639
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511,669
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208
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LIQUIDITY
(Times)
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Cash Ratio
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7.69
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7.36
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0.43
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5.35
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Liquid Ratio
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20.09
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12.92
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3.80
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6.65
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Current Ratio
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23.16
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13.04
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3.80
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6.65
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WORKING
CAPITAL CONTROL (Days)
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Stock Ratio
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23
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1
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0
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0
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Debtors Ratio
|
90
|
41
|
66
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0
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Creditors
Ratio
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2
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0
|
10
|
92
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SOLVENCY
RATIOS (Times)
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Gearing Ratio
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0.00
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0.00
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0.00
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0.00
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Liabilities
Ratio
|
0.05
|
0.08
|
0.36
|
0.18
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Times Interest
Earned Ratio
|
0.00
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0.00
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0.00
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0.00
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Assets Backing
Ratio
|
39.09
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26.94
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15.32
|
1.00
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PERFORMANCE
RATIO (%)
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Operating
Profit Margin
|
15.70
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13.27
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16.62
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59.89
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Net Profit Margin
|
14.31
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11.60
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14.21
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59.89
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Return On Net
Assets
|
34.09
|
49.34
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109.30
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170.29
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Return On
Capital Employed
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34.09
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49.34
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109.30
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170.29
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Return On
Shareholders' Funds/Equity
|
31.09
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43.12
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93.44
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170.29
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Dividend Pay Out
Ratio (Times)
|
0.00
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0.00
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0.00
|
0.40
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NOTES TO
ACCOUNTS
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Contingent
Liabilities
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0
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0
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0
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0
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