LHLT(FS2009). by Roger

8/3/2019 LHLT(FS2009). by Roger

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FOR THE PERIOD31 DECEMBER 2009

LEE HONG LEE TRADING PTE. LTD.(Incorporated in the Republic of Singapore)

(ACRA REG : 200715162R)

DIRECTORS’ REPORT AND FINANCIAL STATEMENTS



DirectorLee Lin SiaEr Chee Hong

SecretaryThen Siau Fong

Registered Office951 Serangoon RoadSingapore 328146

CONTENT PAGES

Directors’ Report

Statement by directors

Balance Sheet

Profit and Loss Statement

Statement of Changes in Equity

Statement of Cashflows

Notes to the financial statements

5

6


(ACRA REG : 200715162R)


TO 31 DECEMBER 2009

7

8

1 - 2

3

4



Director

The directors in office at the date of this report is:

Lee Lin SiaEr Chee Hong

Arrangements to enable director to acquire shares or debentures

Director's interest in shares or debentures

Name of Directors Preference Ordinary Preference OrdinaryLee Lin SiaEr Chee Hong

Director's contractual benefits

Page 1

(ACRA REG : 200715162R)DIRECTORS’ REPORT

The directors present their report to the members together with the financial statements of the Company for the periodended 31 December 2009.


5,000.00 - -

- 5,000.00

Since the beginning of the financial year no director has received or become entitled to receive any benefit which isrequired to be disclosed by Section 201(8) of the Companies Act, Cap. 50 by reason of a contract made by theCompany or a related corporation with the director or with a firm of which he is a member, or with a company inwhich he has a substantial financial interest except in respect of professional fees and or remuneration as shown in

the audited accounts.

- 5,000.00

Neither at the end of the financial year nor at any time during that year, did there subsist any arrangement whoseobject is to enable the director to acquire benefits by means of the acquisition of shares or debentures in the Companyor any other body corporate.

The director holding office at the end of the financial year and their interests in the share capital of the Company asrecorded in the register of directors' shareholdings kept by the company under Section 164 of the Companies Act,Cap. 50 were as follows:

At 31 December 2009At 31 December 2008

5,000.00



Options

During the financial year,(i) no option to take up unissued shares of the Company has been granted; and(ii) no shares have been issued by virtue of the exercise of option to take up unissued shares.

As at the end of the year, there was no option to take up unissued shares of the Company.

ON BEHALF OF THE BOARD OF DIRECTOR

SINGAPORE,31ST October 2010

Page 2

Director


Er Chee HongDirector

Lee Lin Sia






ASSETS

Current assets

InventoryPrepaymentsTrade and other receivablesCash and cash equivalents

TOTAL ASSETS `

LIABILITIES AND EQUITY

Current liabilities

Trade and Other payables

Capital and reserves

Share capitalAccumulated losses

TOTAL EQUITY AND LIABILITIES

The annexed notes form an integral part of and should be read in conjunction with these financial statements

Page 4


(ACRA REG : 200715162R)

AS AT 31 DECEMBER 2009BALANCE SHEET

NOTES 2009S$

9,636.12

12,665.62 20,364.94

42,766.68 42,766.68

12

100.00

10,000.00 (5,240.18)

38,006.86

4,759.82

38,006.86

42,766.68

4

3

-



Revenue

Cost of sales

Gross profit

Other income

General and Administrative expenses

Finance cost

Loss before taxTaxes 18%Net Profit (Loss) for the period

The annexed notes form an integral part of and should be read in conjunction with these financial statements.

6

Page 5

LEE HONG LEE TRADING PTE. LTD.

- (4,002.18)

5

5,400.88

-

(4,002.18)

(Incorporated in the Republic of Singapore)(ACRA REG : 200715162R)

PROFIT AND LOSS STATEMENTFOR THE YEAR ENDED 31 DECEMBER 2009

NOTES 2009S$

47,787.73

46,389.03

1,398.70



31 DECEMBER 2008

Share Issue for the period

Net loss for the period

As at 31 December 2009


Page 6

(ACRA REG : 200715162R)

STATEMENT OF CHANGES IN EQUITY


FOR THE PERIOD 31 DECEMBER 2009

- (1,238.00)

(5,240.18) 4,759.82

Total

(1,238.00)

- 10,000.00

(4,002.18) (4,002.18)

10,000.00

Share Capital

10,000.00

AccumulatedProfit/(Loss)



NOTES

OPERATING ACTIVITIES

Profit / (loss) from operations before taxWorking capital changesInventoryTrade and other receivablesPrepaymentsTrade and other payablesCash generated from operationsTaxation paidCash generated from operating activities

FINANCING ACTIVITIESAmount owing to directorsShare capital issued

Cash generated in investing activities

CASH AND CASH EQUIVALENTS

Net movements in cash flow during the year

As at beginning of year

As at end of the year

2009

Page 7


(ACRA REG : 200715162R)

CASH FLOW STATEMENT

13,623.88 (5,596.62)

(100.00)


S$

(4,002.18)

- -

-

8,285.94 -

8,285.94

8,285.94

12,079.00

2 20,364.94

4,360.86



The following notes form an integral part of and should be read in conjunction with the financial statements at pages 4 to 7.

1 . DOMICILE AND ACTIVITILES

2 . SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis and are presented in Singapore dollars.

(b) Property, plant and equipment

Motor vehicles - Furniture & fittings -Office equipment - Computers -

(c) Income Recognition

(e) Trade and other receivables

(f) Trade and other payablesTrade and other payables are stated at cost.


(ACRA REG : 200715162R)

NOTES TO FINANCIAL STATEMENTSFOR THE PERIOD 31 DECEMBER 2009

20%20%

Fully depreciated items are retained in the accounts until they are no longer in use. Any gain or loss on disposalof property, plant and equipment is taken to revenue.

Provided it is probable that the economic benefits will flow to the company, and the revenue and costs, can bemeasured reliably, revenue will be recognised on an accrual basis in the profit and loss account.

Trade receivables are recognized and carried at original invoice amount less allowance for doubtful receivables.An allowance for doubtful receivables is made when collection of the full original invoice amount is no longer

probable.

LEE HONG LEE TRADING PTE. LTD. ("the Company) (ACRA Reg : 200715162R) is domiciled andincorporated in the Republic of Singapore and has its registered office and principal place of business at 951Serangoon Road, Singapore 328146.

The principal activities of the Company are those of trading of sanitary wares and aluminium products. There hasbeen no significant change in the principal activities during the year.

The financial statements have been prepared in accordance with Singapore Financial Reporting Standards("FRS") as required by the Companies Act.

Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses.Depreciation is calculated on a Straight Line Method to write off the cost of property, plant and equipment overtheir estimated useful lives that have been taken as follows:

20%20%



(g) Impairment of assets

(h) Income Taxes

(i) Employee benefits

Defined contribution plans

Employee leave entitlement

Any impairment loss is recognised whenever the carrying amount of an asset or its cash-generating unit exceedsits recoverable amount and all impairment losses are recognised in the profit and loss account.

Deferred income tax is provided, using the liability method, on all temporary difference at the balance sheet datebetween the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes.Deferred tax assets and liabilities are measured using the tax rates expected to apply to taxable income in theyears in which those temporary differences are expected to be recovered or settled based on tax rates enacted orsubstantively enacted at the balance sheet date.

Deferred tax liabilities are recognised for all taxable temporary differences, except where it is probable that thetemporary difference will not reverse in the foreseeable future.


(ACRA REG : 200715162R)


Page 8

Defined contribution plans are post-employment benefit plans under which the Company pays fixed contributionsinto separate entities such as the Central Provident Fund, and will have no legal or constructive obligation to payfurther contributions if any of the funds do not hold sufficient assets to pay all employees benefits relating toemployee services in the current and preceding financial years. The Company’s contribution to definedcontribution plans is recognized in the financial year to which they relate.

Employee entitlements to annual leave and long service leave are recognized when they accrue to employees. Aprovision is made for the estimated liability for annual leave and long-service leave as a result of servicesrendered by employees up to the balance sheet date.

Deferred tax assets are recognised for all deductible temporary differences, carryforward of unused tax assets andunused tax losses, to the extent that it is probable that taxable profit will be available against which the deductibletemporary differences, carryforward of unused tax assets and unused tax losses can be utilised.

At each balance sheet date, the Company re-assesses unrecognised deferred tax assets and the carrying amount of deferred tax assets. The Company recognises a previously unrecognised deferred tax asset to the extent that it has

become probable that future taxable profit will allow the deferred tax asset to be recovered. The Companyconversely reduces the carrying amount of a deferred tax asset to the extent that it is no longer probable thatsufficient taxable profit will be available to allow the benefit of part or all of the deferred tax asset to be utilised.

The carrying amounts of the company’s assets are reviewed at each balance sheet to determine if there is anyindication of impairment. If such an indication exists, the asset’s recoverable amount is estimated.



1 . TRADE AND OTHER RECEIVABLES

Trade CreditorsAccrualsDue to DirectorsGST payableOther CreditorsTotal

2 . CASH AND CASH EQUIVALENTS

Cash in Bank Cash on HandTotal

3 . TRDE AND OTHER PAYABLESTrade CreditorsAccrualsDue to DirectorsGSTOther CreditorsTotal

4 . SHARE CAPITAL

Issue and Paid up:10,000 Ordinary shares of S$1/- each, fully paid S$ 10,000.00

5 . REVENUEThese represent gross sales invoiced for the year.

Page 9

5,000.00 38,006.86

3,240.3617,124.5820,364.94

5,500.00 26,942.39

212.12

(ACRA REG : 200715162R)



352.355,500.0026,942.39212.125,000.0038,006.86

352.35



6 . TAXATION

ReconciliationProfit / (loss) before tax

Tax expense at the applicable rate of 18%

Effect of: -- Non-deductible expenses- Capital allowances- Deferred tax asset not recognised b/f - Changes in effective tax rate- Deferred tax asset not recognised c/f

. FINANCIAL RISKSFinancial Risk Management Objectives and PoliciesThe risk arising from the company’s financial instruments is credit risk.(a) Credit Risk

(b) Fair Values

. EXEMPT FROM AUDIT REQUIREMENTS

**END**

Page 10

- - -

As the Company’s turnover did not exceed $5 million, its financial statements are exempted from auditrequirements pursuant to Section 205C of the Companies Act, Cap 50.

-

(720.39)

(4,002.18)

7

720.39 (0.00)

8

Credit risk is the potential financial loss resulting from the failure of a customer or a counterparty to settle itsfinancial and contractual obligations to the Company, as and when they fall due. Management has a credit policy

in place and the exposure to credit risk is monitored on an ongoing basis. Credit evaluations are performed on allcustomers requiring credit over a certain amount. The Company does not require collateral in respect of financialassets but collect deposits in certain cases.

At the balance sheet date, there is no significant concentration of credit risk. The maximum exposure to creditrisk is represented by the carrying amount of each financial asset, in the balance sheet.

The following method and assumptions are used to estimate the fair value of each class of financial instrumentsfor which is it practicable to estimate that value:-

The carrying amount of cash equivalents, trade and other receivables and trade and other payables approximatetheir fair values due to the short-term nature of these balances.

Cash and cash equivalents, trade and other receivable, trade and other payables

2009S$


(ACRA REG : 200715162R)


The income tax expense on the results for the financial year varies from the amount of income tax determined byapplying the Singapore Standard rate of income tax to profit before tax due to the following factors: -



Sales Revenue

Less: Cost of salesBeginning InventoryPurchasesServices renderedEnding Inventory

Gross profit

Less: Operating expensesBank charges

General expenseGeneral Repairs and MaintenancePrinting and stationarySecretarial and accountancy feeRepresentationsUniforms

Net loss for the year

46,389.03 1,398.70

47,787.73

Page 11

2009S$

230.00 278.88

77.00 2,500.00

280.00 1,975.00 5,400.88

(4,002.18)

60.00

(9,636.12)

32,430.56 335.00

23,259.59


(ACRA REG : 200715162R)

DETAILED PROFIT AND LOSS STATEMENT




Page 12


































(ACRA REG : 200715162R)


FOR THE PERIOD31 DECEMBER 2009






CONTENT PAGES

Directors’ Report


Balance Sheet





Detailed Profit and Loss Statement

7

8-11

12

4

5

6

3


(ACRA REG : 200715162R)


TO 31 DECEMBER 2009

1 - 2



Director







- 5,000.00 - 5,000.00



Page 1

- 5,000.00 - 5,000.00






At 31 December 2008 At 31 December 2009



Options





Lee Lin Sia Er Chee HongDirector Director

Page 2





The directors have on this day authorised the financial statements for issue.



Page 3


STATEMENT BY DIRECTOR

In the opinion of the directors, the accompanying Financial Statements of the company together with the notes theretoare drawn up so as to give a true and fair view of the state of affairs of the company as at 31st December 2009 and of the results of the business of the Company for the year then ended.

At the date of this statement there are reasonable grounds to believe that the Company will be able to pay its debts asand when they fall due.




ASSETS

Current assets

Cash and cash equivalentsTrade and other receivablesPrepaymentsInventory

TOTAL ASSETS `


Current liabilities





The annexed notes form an integral part of and should be read in conjunction with these financial statements(33,130.56)

Page 4

38,006.86

4 10,000.00 (5,240.18) 4,759.82

42,766.68

1 20,364.94

9,636.12 9,636.12

3 38,006.86

S$

9,636.12 100.00

2 12,665.62


BALANCE SHEETAS AT 31 DECEMBER 2009

NOTES 2009




Revenue

Cost of sales

Gross profit

Other income

General and Administrative expenses

Finance cost



6 - (4,002.18)

Page 5

5,400.88

-

(4,002.18)

46,389.03

1,398.70

-

FOR THE YEAR ENDED 31 DECEMBER 2009

NOTES 2009S$

5 47,787.73


(ACRA REG : 200715162R)

PROFIT AND LOSS STATEMENT



31 DECEMBER 2008





10,000.00 (5,240.18) 4,759.82

Page 6

10,000.00 - 10,000.00

(4,002.18) (4,002.18)

- (1,238.00) (1,238.00)


STATEMENT OF CHANGES IN EQUITYFOR THE PERIOD 31 DECEMBER 2009

Share CapitalAccumulatedProfit/(Loss) Total




NOTES


Profit / (loss) from operations before taxWorking capital changesIncrease(Decrease) InventoryIncrease(Decrease) Trade and other receivablesIncrease(Decrease) PrepaymentsIncrease(Decrease) Trade and other payablesCash generated from operationsTaxation paidCash generated from operating activities






As at end of the year 1 20,364.94

Page 7

-

8,285.94

12,079.00

8,285.94

- -

(100.00) 4,360.86 8,285.94

-

13,623.88 (5,596.62)

(ACRA REG : 200715162R)

CASH FLOW STATEMENTFOR THE PERIOD 31 DECEMBER 2009

2009S$

(4,002.18)















Trade receivables are recognized and carried at original invoice amount less allowance for doubtful receivables.An allowance for doubtful receivables is made when collection of the full original invoice amount is no longer

probable.


20% 20%20% 20%







(ACRA REG : 200715162R)




(h) Income Taxes





At each balance sheet date, the Company re-assesses unrecognised deferred tax assets and the carrying amount of deferred tax assets. The Company recognises a previously unrecognised deferred tax asset to the extent that it has

become probable that future taxable profit will allow the deferred tax asset to be recovered. The Companyconversely reduces the carrying amount of a deferred tax asset to the extent that it is no longer probable thatsufficient taxable profit will be available to allow the benefit of part or all of the deferred tax asset to be utilised.








Page 8LEE HONG LEE TRADING PTE. LTD.







Trade CreditorsAccrualsDue to Directors

GST payableOther CreditorsTotal

3 . TRDE AND OTHER PAYABLESTrade CreditorsAccrualsDue to DirectorsGSTOther CreditorsTotal

4 . SHARE CAPITAL



38,006.86

20,364.94

352.35 5,500.00

26,942.39 212.12

5,000.00

26,942.39

212.125,000.0038,006.86

3,240.3617,124.58



352.355,500.00




6 . TAXATION




. FINANCIAL RISKSFinancial Risk Management Objectives and PoliciesThe risk arising from the company’s financial instruments is credit risk.(a) Credit Risk

(b) Fair Values

. EXEMPT FROM AUDIT REQUIREMENTS

**END**

8As the Company’s turnover did not exceed $5 million, its financial statements are exempted from auditrequirements pursuant to Section 205C of the Companies Act, Cap 50.

7

Credit risk is the potential financial loss resulting from the failure of a customer or a counterparty to settle itsfinancial and contractual obligations to the Company, as and when they fall due. Management has a credit policy

in place and the exposure to credit risk is monitored on an ongoing basis. Credit evaluations are performed on allcustomers requiring credit over a certain amount. The Company does not require collateral in respect of financialassets but collect deposits in certain cases.

At the balance sheet date, there is no significant concentration of credit risk. The maximum exposure to creditrisk is represented by the carrying amount of each financial asset, in the balance sheet.

The following method and assumptions are used to estimate the fair value of each class of financial instrumentsfor which is it practicable to estimate that value:-

Cash and cash equivalents, trade and other receivable, trade and other payablesThe carrying amount of cash equivalents, trade and other receivables and trade and other payables approximatetheir fair values due to the short-term nature of these balances.

- - - -

720.39 (0.00)



2009S$

(4,002.18)

(720.39)



NOTES TO FINANCIAL STATEMENTS



Sales Revenue

Less: Cost of salesBeginning InventoryPurchasesServices renderedEnding Inventory

Gross profit

Less: Operating expensesBank charges

General expenseGeneral Repairs and MaintenancePrinting and stationarySecretarial and accountancy feeRepresentationsUniforms


77.00 2,500.00

280.00 1,975.00 5,400.88

(4,002.18)

46,389.03 1,398.70

230.00 278.88

60.00

23,259.59 32,430.56

335.00 (9,636.12)

DETAILED PROFIT AND LOSS STATEMENT

FOR THE PERIOD 31 DECEMBER 2009 2009S$

47,787.73





Page 12


































(ACRA REG : 200715162R)


FOR THE PERIODDECEMBER 31, 2009 and 2008






CONTENT PAGES

Directors’ Report


Balance Sheet





Detailed Profit and Loss Statement 12

6

7

8-11

4

5


(ACRA REG : 200715162R)


FOR 31 DECEMBER 2009

1 - 2

3



Director







- 5,000.00 - 5,000.00



Page 1


At 31 December 2008 At 31 December 2009

- 5,000.00 - 5,000.00







Options






Page 2





The directors have on this day authorised the financial statements for issue.



Page 3


STATEMENT BY DIRECTOR

In the opinion of the directors, the accompanying Financial Statements of the company together with the notes theretoare drawn up so as to give a true and fair view of the state of affairs of the company as at 31st December 2009 and of the results of the business of the Company for the year then ended.

At the date of this statement there are reasonable grounds to believe that the Company will be able to pay its debts asand when they fall due.




ASSETS

Current assetsCash and cash equivalentsTrade and other receivablesPrepaymentsInventory

TOTAL ASSETS `


Current liabilities






4 10,000.00 10,000.00 0.0%

(5,240.18) (1,238.00) 61.8%

4,759.82 8,762.00 -29.6%

42,766.68

12,665.62 7,069.00 28.4%

1 20,364.94 12,079.00 25.5%

3 38,006.86 33,646.00 6.1%

9,636.12 23,260.00 -41.4%

9,636.12 23,260.00 -41.4%

Page 4

38,006.86 33,646.00 6.1%

42,408.00 0.4%

(33,130.56) (19,148.00)

(ACRA REG : 200715162R)

DECEMBER 31BALANCE SHEET

NOTES 2009 2008 %Change

S$ S$

9,636.12 100.0%

23,260.00 41.4%

100.00 - 2

(Incorporated in the Republic of Singapore)



Revenue

Cost of sales

Gross profitOther incomeGross Income

Selling,General and Administrative expenses

Finance cost



(4,002.18) (1,238.00) 52.7%

- - -

(4,002.18) (1,238.00) 52.7%7 - - -

2,807.00 -33.5%

6 5,400.88 4,420.00 10.0%

375.00 -100.0%

1,398.70 3,182.00

YEARS ENDED DECEMBER 31

46,389.03 112,830.00 -41.7%

5 47,787.73


(ACRA REG : 200715162R)

PROFIT AND LOSS STATEMENT

115,637.00 -41.5%

NOTES 2009 2008 %ChangeS$ S$

1,398.70



31 DECEMBER 2008





Page 5

10,000.00 (5,240.18) 4,759.82

10,000.00 - 10,000.00

(4,002.18) (4,002.18)

- (1,238.00) (1,238.00)


STATEMENT OF CHANGES IN EQUITYFOR THE PERIOD 31 DECEMBER 2009

Share CapitalAccumulatedProfit/(Loss) Total




Profit / (loss) from operations before taxWorking capital changesIncrease(Decrease) InventoryIncrease(Decrease) Trade and other receivablesIncrease(Decrease) PrepaymentsIncrease(Decrease) Trade and other payablesCash generated from operationsTaxation paid

Cash generated from operating activities







- -

8,285.94 (22,864.00) -213.68%

4,360.86 8,703.00 -33.24%8,285.94 (22,864.00) -213.68%

2009 2008 %Change


(Incorporated in the Republic of Singapore)

- 24,943.00 -100.00%-

- 100.00%

1 20,364.94 12,079.00 25.54%

10,000.00 -100.00%

- 34,943.00 -100.00%

8,285.94 12,079.00 -18.63%

12,079.00

(100.00) - 100.00%(5,596.62) (7,069.00) -11.63%

(ACRA REG : 200715162R)

CASH FLOW STATEMENTYEARS ENDED DECEMBER 31

NOTES S$ S$

(4,002.18) (1,238.00) 52.75%

13,623.88 (23,260.00) -382.77%














20% 20%20% 20%






(ACRA REG : 200715162R)


Trade receivables are recognized and carried at original invoice amount less allowance for doubtful receivables.

An allowance for doubtful receivables is made when collection of the full original invoice amount is no longerprobable.


Page 7




(h) Income Taxes





At each balance sheet date, the Company re-assesses unrecognised deferred tax assets and the carrying amount of

deferred tax assets. The Company recognises a previously unrecognised deferred tax asset to the extent that it hasbecome probable that future taxable profit will allow the deferred tax asset to be recovered. The Companyconversely reduces the carrying amount of a deferred tax asset to the extent that it is no longer probable thatsufficient taxable profit will be available to allow the benefit of part or all of the deferred tax asset to be utilised.










(ACRA REG : 200715162R)

Page 8






Trade CreditorsAccrualsDue to DirectorsGST payableOther CreditorsTotal

3 . TRDE AND OTHER PAYABLES

Trade Creditors

AccrualsDue to DirectorsGSTOther CreditorsTotal

4 . SHARE CAPITALIssue and Paid up:10,000 Ordinary shares of S$1/- each, fully paid S$ 10,000.00


6 . Selling,General and Administrative expenses

Bank chargesCommissionsGeneral expenseGeneral Repairs and MaintenancePrinting and stationarySecretarial and accountancy feeRepresentationsTransportationsUniforms 1,975.00 - 100.0%

280.00 - 100.0%- 15.00 -100.0%

77.00 669.00 -79.4%2,500.00 3,000.00 -9.1%

278.88 239.00 7.7%60.00 100.0%

S$ S$

230.00 299.00 -13.0%- 198.00 -100.0%

38,006.86 38,646.00 -0.8%

2009 2008 %Change

5,000.00 5,000 0.0%

2008 %ChangeS$ S$

352.35 5,000.00 -86.8%

5,500.00 3,000.00 29.4%26,942.39

2009

20,364.94 12,079.00 25.5%

40,715.00 -3.4%

24,943.00 3.9%212.12 703.00 -53.6%

2009 2008 %ChangeS$ S$

3,240.36

38,006.86

-53.6%5,000.00 5,000.00 0.0%

S$

352.35 7,069.00 -90.5%5,500.00 3,000.00 29.4%

26,942.39

6,755.00 -35.2%17,124.58 5,324.00 52.6%



YEARS ENDED DECEMBER 31

2009 2008 %ChangeS$

24,943.00 3.9%212.12 703.00




Total

6 . TAXATION




- 720.39 223.00

- -

Page 10


2009 2008 %ChangeS$ S$


(ACRA REG : 200715162R)

NOTES TO FINANCIAL STATEMENTSYEARS ENDED DECEMBER 31

5,400.88 4,420.00 10.0%

-

(4,002.18) (1,238.00) 52.7%

(720.39) (223.00)

- -



Sales Revenue

Less: Cost of salesBeginning InventoryPurchasesPacking MaterialsServices renderedFreight, transportation and handlingEnding Inventory

Gross profitOther IncomeGross Income

Less: Operating expensesBank chargesCommissionsGeneral expenseGeneral Repairs and MaintenancePrinting and stationarySecretarial and accountancy feeRepresentationsTransportationsUniforms

Net loss for the year5,400.88 4,420.00 9.99%

(4,002.18) (1,238.00) 52.75%

- 15.00 -100.00%1,975.00 - 100.00%

2,500.00 3,000.00 -9.09%280.00 - 100.00%

60.00 100.00%77.00 669.00 -79.36%

- 198.00 -100.00%278.88 239.00 7.70%

1,398.70 3,182.00 -38.93%

230.00 299.00 -13.04%

1,398.70 2,807.00 -33.49%- 375.00 -100.00%

(9,636.12) (23,260.00) -41.41%46,389.03 112,830.00 -41.73%

47,787.73 115,637.00 -41.52%

100.00%

335.00 705.00 -35.58%- 5,628.00 -100.00%

32,430.56 129,735.00 -60.00%- 22.00 -100.00%

23,259.59 -

DETAILED PROFIT AND LOSS STATEMENTYEARS ENDED DECEMBER 31

2009 2008



%ChangeS$ S$



Page 12

































ASSETS

Current assets

Cash and cash equivalentsTrade and other receivablesPrepaymentsInventory

TOTAL ASSETS `


Current liabilities







BALANCE SHEETDECEMBER 31

38,006.86 38,006.86

10,000.00

NOTES

21

3

4

2009S$

9,636.12 100.00

12,665.62 20,364.94

9,636.12 9,636.12

41.4%

%Change

100.0%

28.4%

23,260.00 23,260.00

33,646.00 33,646.00

2008S$

23,260.00 -

7,069.00 12,079.00 25.5%

-41.4%

-41.4%

6.1%

6.1%

8,762.00 42,408.00

10,000.00 0.0%

61.8%

-29.6%

0.4%

(19,148.00)

(5,240.18) 4,759.82

42,766.68

(33,130.56)

Page 1

(1,238.00)



Revenue

Cost of sales

Gross profitOther incomeGross Income

Selling,General and Administrative expenses

Finance cost



Page 2

-

(ACRA REG : 200715162R)

PROFIT AND LOSS STATEMENTYEARS ENDED DECEMBER 31


6

52.7%-

52.7%

112,830.00

2,807.00

4,420.00

375.00

-

(1,238.00)

-41.5%

-41.7%

-33.5%-100.0%

S$S$

46,389.03

1,398.70

7

47,787.73

%ChangeNOTES

5 115,637.00

-(1,238.00)

2009 2008

5,400.88

-

(4,002.18) -

(4,002.18)

10.0%

1,398.70 3,182.00




Profit / (loss) from operations before taxWorking capital changesIncrease(Decrease) InventoryIncrease(Decrease) Trade and other receivablesIncrease(Decrease) PrepaymentsIncrease(Decrease) Trade and other payablesCash generated from operationsTaxation paidCash generated from operating activities







- 10,000.00 -100.00%

- 34,943.00 -100.00%

8,285.94 12,079.00 -18.63%

- - 8,285.94 (22,864.00) -213.68%

- 24,943.00 -100.00%

(7,069.00) -11.63%(100.00) - 100.00%

4,360.86 8,703.00 -33.24%8,285.94 (22,864.00) -213.68%

(5,596.62)

NOTES S$ S$

(4,002.18) (1,238.00) 52.75%

13,623.88 (23,260.00) -382.77%


(ACRA REG : 200715162R)

CASH FLOW STATEMENTYEARS ENDED DECEMBER 31

2009 2008 %Change

12,079.00 - 100.00%

1 20,364.94 12,079.00 25.54%

Page 3






Trade CreditorsAccruals

Due to DirectorsGST payableOther CreditorsTotal

3 . TRDE AND OTHER PAYABLES

Trade CreditorsAccrualsDue to DirectorsGSTOther CreditorsTotal

4 . SHARE CAPITAL



6 . Selling,General and Administrative expenses

Bank chargesCommissionsGeneral expenseGeneral Repairs and MaintenancePrinting and stationarySecretarial and accountancy feeRepresentationsTransportationsUniformsTotal 5,400.88 4,420.00 10.0%

%Change

%Change

- 1,975.00

299.00 198.00 239.00

669.00 3,000.00

-90.5%

2008S$

-13.0%-100.0%

7.7%100.0%-79.4%-9.1%

100.0%-100.0%100.0%

S$

2009S$


(ACRA REG : 200715162R)


2009 2008

38,006.86

212.1226,942.39

5,500.00

352.35 7,069.00

3,000.00

24,943.00703.00

3,240.36

17,124.5820,364.94

5,000.00

2008S$

-35.2%52.6%25.5%

29.4%

3.9%-53.6%0.0%

2009S$

-3.4%

S$

40,715.00

6,755.00

5,324.0012,079.00

5,000.00

-0.8%

-86.8%29.4%3.9%

-53.6%0.0%

3,000.0024,943.00

703.00

38,646.005,000

352.355,500.00

26,942.39212.12

5,000.00

38,006.86

5,000.00

2009 2008 %Change

Page 4

- 15.00

-

S$ S$

230.00 -

278.88 60.00 77.00

2,500.00 280.00

%Change



6 . TAXATION



Effect of: -- Non-deductible expenses- Capital allowances- Deferred tax asset not recognised b/f

- Changes in effective tax rate- Deferred tax asset not recognised c/f

%Change

52.7%


2008

- 720.39


(ACRA REG : 200715162R)


2009S$

(4,002.18)

(720.39)

- - -

S$

(1,238.00)

(223.00)

223.00

-

Page 5

-



Sales Revenue

Less: Cost of salesBeginning InventoryPurchasesPacking MaterialsServices renderedFreight, transportation and handlingEnding Inventory

Gross profitOther Income

Gross Income

Less: Operating expensesBank chargesCommissionsGeneral expenseGeneral Repairs and MaintenancePrinting and stationarySecretarial and accountancy feeRepresentationsTransportationsUniforms


%Change

23,259.59


DETAILED PROFIT AND LOSS STATEMENTYEARS ENDED DECEMBER 31

-35.58%-100.00%

705.00

S$

115,637.00

-

5,400.88 (4,002.18)

2009 2008

47,787.73

230.00

278.88 60.00 77.00

2,500.00 280.00

32,430.56

335.00

(9,636.12) 46,389.03

1,398.70

- 5,628.00

S$

-33.49%-100.00%

-38.93%

-13.04%-100.00%

-60.00%129,735.00

1,398.70

-

-41.41%-41.73%

22.00

- 375.00

-100.00%

2,807.00

299.00

(23,260.00) 112,830.00

-41.52%

100.00%


Page 6

100.00%9.99%

52.75%

-100.00%

4,420.00 (1,238.00)

3,182.00

- 198.00

- 15.00

239.00

669.00 3,000.00

-

-

7.70%100.00%-79.36%-9.09%

100.00%

1,975.00



BALANCE SHEET

2008 2009

S$ S$ASSETS

Current assets

Inventory 23,260 9,636.12 13,623.88Prepayments 0 100.00 (100.00) Trade and other receivables 7,069 12,665.62 (5,596.62) Cash and cash equivalents 12,079 20,364.94 8,285.94 20,364.94

42,408.00 42,766.68 TOTAL ASSETS 42,408.00 42,766.68


Current liabilities

Trade and Other payables 33,646 38,006.86 4,360.86 33,646.00 38,006.86


Share capital 10,000 10,000.00 - Dividends - Accumulated losses -1,238 (5,240.18) (4,002.18)

8,762.00 4,759.82 TOTAL EQUITY AND LIABILITIES 42,408.00 42,766.68

-









NOTES

2

34

6

5





Documents

LHLT(FS2009). by Roger