BEJUS ENTERPRISES FOR THE YEAR ENDED 31ST DECEMBER 2015 contents Pace rectors report 2 Statement of rectors Resposibisies 3 ‘Asdtor’ Report 4 Income Statement 5 Balance sheet . Cosiow statement 7 Note tone Accounts 80 Det inore Satrnnt ponent. Ea ame re ih Ne otBEJUS ENTERPRISES DIRECTOR'S REPORT FOR THE YEAR ENDED 31ST DECEMBER 2015 ‘The Director is pleased to submit their report and audited accounts forthe year ended 31st December, 2015 2. ACTIVITIES The principle actvty of the company during the year was fabrication and sale of glass. ‘and aluminium construction materials and equipment 3. TRADING RESULTS The results ofthe company are set out on page 5. 4. AUDITORS Nagi & Associates who held office during he year and have expressed their willingness to continue in office in accordance with section 159(2) of the Companies Act (Capase). 5. DIRECTOR ‘The Director who held office during the year was NAME Elizabeth Mwiwa BY ORDER OF THE BOARD ore... Aes, LE See oaBEJUS ENTERPRISES, ‘STATEMENT OF DIRECTOR'S RESPONSIBILITIES FOR THE YEAR ENDED 31ST DECEMBER 2015. ‘The Companies Act requires the directo o prepare Financial Statements for aac financial yes, ‘which give a true and fir view of the state of fairs of the company and its operating results for the year. alga requires the directors to ensure the company keeps proper accounting records ‘They ate also responsible for safeguarding the assets of the company. “The director accept responsibilty for he annual Financial Statements, which have been ‘prepared using appropriate accounting policies supported by reasonable and prudent Judgement and estimates n conformity wth Intemational Accounting Standards and the ‘Companies Act The directors are ofthe opinion thatthe financial statements give a true and fair view ofthe state of afar of te company and its operating resute The dirctors further accept responsibilty for tho maintainance of accounting records tobe ralied upon for preparation of financial statements as well as adequate system of neal nancial control [Nothing has come tothe attention of the rector thet the going concer ofthe company | doubtful for at least twelve months from the date of this statement DIRECTOR owe... LOLL LE. ost Sigua GS ©AUDITORS REPORT TO THE MEMBERS OF BEJUS ENTERPRISES FOR THE YEAR ENDED 31ST DECEMBER 2015 1 We have audited the fnancial statements set outon pages 5 to 9 which have been prepared on the basis ofthe accounting policies set out in note 1.The financial ‘Statements are in agreement withthe books of account. We obtained all explanations Wwe considered necessary for the purpose of our audit and which provide a reasonable ‘basis for our opinion, 2 RESPECTIVE RESPONSIBILITIES OF DIRECTORS AND AUDITORS Under provisions of the Companies Act, the directors are responsible for the preparation ofthe accounts which give a true and fair view of the company’s stale of affairs and its proft or loss, Our responsiblity isto express an independent opinion on the accounts based on our aueit and report our opinion to you. 3 BASIS OF OPINION. \We concluded our audit in accordance with Intemational Standards on Auditing These ‘standards require that we plan and perform our audit to obtain a reasonable assurance thatthe accounts are free from material misstatements, An audit includes examining, on attest basis, of evidence supporting the amounts and disclosure on the accounts. t also Includes an assessment ofthe accounting policies used and the significant estimates ‘made by the directors as well as an evaluation ofthe overall presentation of the accounts, 4 OPINION In our opinion, proper books of account have been kept and the Financial Statements together wih tne notes give a true and far view othe company's affairs {a at 31st December 2015 and ofits results and cashfiows for he year ended on that date end comply wih Intemational Financial Reporting Standards and the companies ‘ct (CAP 486) ae See Certs Puplé Accountans (Kenya) weve \ iG oate../-06 /.....2016BEJUS ENTERPRISES INCOME STATEMENT AS AT 31ST DECEMBER, 2015 2018 2014 KsHS KsHS TURNOVER 34,574,446 __ 28,600,062 PROFIT (LOSS) BEFORE TAXATION 2857450 296,313 PROFIT BROUGHT FORWARD (6,222,808) (7,867,708) PROFIT CARRIED FORWARD 2,664,045) (6.222.306)BEJUS ENTERPRISES ‘CASHFLOW STATEMENT AS AT 31ST DECEMBER 2015 Profit before Taxation ADJUSTMENTS FOR: toms not involving Movement of Cash Depreciation Operating Profit before working Capital changes INCREASE / DECREASE IN WORKING CAPITAL (incease)Decrease in Debiors (Decrease) Increase in Creditors (Increase )Decrease in Stock Cash generated from Operations INVESTING ACTIVITIES: Purchase of Fixed Assets Net Cash generated from operating Activities FINANCING ACTIVITIES: Vat Contr! Shareholders account Net Cash used in Investing Activities MOVEMENT IN CASH AND CASH EQUIVALENTS: Cash at the Beginning of the year Cash at the end of the year Bo fe Eo Ar oo wo? 2015 2014 KSHS. KSHS (1,612,550) (1,164,686) 704,449, 493.204 618,104 (671,382) 63,929 442.118 9,892,393, 144.921 (9,248,971 6,024,453) (108,750) (6,108,808) (1,886,758) (689,164) (4,775,508) (6.777 872) 1,294,851, 493,177 (480,887) (2,084,795) 770.987 2,855,779 290,329) 770984BEJUS ENTERPRISES NOTES TO THE ACCOUNTS AS AT 31ST DECEMBER, 2015 4. SIGNIFICANT ACCOUNTING POLICIES « o © ‘Basis of Accounting “The accounts ae prepared in accordance and somply wit Intemational Accounting Standarés, The accounts are prepared under the historical cost convention. Fixed Assets Fired assets are stad at historical cost loss depreciation Depreciation is calculated on the reducing balance meted using the folowing annual ates: ate % Office Fumtuce and Fitings 125% Office Equipment 125% Computers 30% MoteeVehices 300% Revenue recognition Income is recognised on Accrual basis Net Pront 2018 Kshs ‘The folowing tas have been charged in atvng at operating poft: Aust feos Depreciation‘BE,US ENTERPRISES [NOTES TO THE ACCOUNTS AS AT S1ST DECEMBER 2016 CONTD) 2 FREDASSETS. Machinery Vatile Computers Equipment Total cosTOR VALUATION Kah eke Tene Kahn Khe eat rury 2014 sas zine teams ase gns STE besten o _f3to900 __iiges0. “sas _ttas0 em Owconterst 20:5 ase essere arses —aeares. “ane Det ara 12014 corartoausen age) nse 1608S Charge oe Yer Sige __"ss0sz1 sie ‘sine __“roewes Aemoecamterst 20:5 ——ists6 terest isso. Taser tease ‘Ner Book VALUE sease __as7sos, _ 21400 Aiuoncmoe 3,06 ieee Haier hie cry Hasire 4 share capita ans ‘thre tre capt! 100 shares Kshs 20 each 209000 nue anid tre capt 10000 ares hah. 20 exch 9000 swxaron ‘exius ban proved t coer of 374 ‘The acer ate resetein Key Sings KS). sg ots. fo Mas eo SeBEJUS ENTERPRISES DETAILED INCOME STATEMENT AS AT 31ST DECEMBER 2015 REVENUE sales COST OF SALES Opening Stock as: Purchase Less: Closing Stock Gross Proft OPERATING EXPENSES Salaries and wages Rent and Rates Elecirity 8 Water Telepnone, Postage, courier Bank Charges and Interest Office Expense Repairs and Maintenance Motor Expenses Insurance ‘Ast Faas “Travel and subsistence Lgntng and Heating Frelght and deanng Charges Pint and Statonery ‘Advertising and promotion Stat wotare Deprecation Entertainment Secunty expenses Legal and professional fees ‘Glaning Expenses ‘TOTAL EXPENDITURE: Loss forthe year 2018 2016 SHS KSHS 34.574.406 _ 26,600,042 10361,728 4397273, 33,000,830 _ 25,065,458 “43,362,556 29,402,731 (g608.667) _ (10,261,726) 23,755,859. 19,007,005, 0.870.587 — a56a037 1600985 1.143.408 +1400}000 1,260,000 264728 200,160 2e0271 278,629 aui7t 76.200 70761 29,008 erssez 470.201 eo7.962 669,050 372709 302,101 40000 40.000, 507.220 672.328 6256356212 2302 128.460, 414205 72,700, 57505 168.204 yoas22 202.480 Tease 498,208 1253882282 2690585 349.334 349055430852, 43576 __ 58580, B363.137 773,724 2567,460___ 2,336,318 Apendbet