Masirah Golden Waves LLC

CASH FLOW STATEMENT (Year 2016 - 1 Jan - 31 Dec)

OPERATING ACTIVITIES
Net Profit(Loss) 134,847.479

Mr. Mohamed (Water Shortage + Factory Advance No bill) 0.000

Advanced Payment (Refrigeration Section+ Forklift) -5,904.166
A/R Processing & Fish Sale (OFC+SFZ+MayaAli+Bahahi+Lin+Said) -34,016.074
Petty Cash A/C 1,242.435
Prepaid/Deposit & Installment Sale 1,150.000
A/R Personal Loan (Hamood & Muktar) 2,450.000
INVENTORY (Fish Stock) -42,712.230
Short Term Loans (from SFZ) 38,400.000
Deferred Payment (to SFZ Mackerel Advanced) 25,906.944
Deferred Payment (to SBC / Dech Reefer Supplies) -21,283.508
Fish Buy - A/P Fishermen 19,597.262
Deferred Payment (Dodge Installment/Labour/Apartment) 1,931.000
Fixed Asset Depreciation(Asset before 2014 assume as expenses) 2,781.600
Montly 5 Year Loan Interest Payment(included in P&L) 7,960.956
Total Cash Flow from Operating Activities

INVESTMENT ACTIVITIES
Acquiring or Sale of Fixed or Intangible Assets in 2016 0.000
Total Cash Flow from Investment Activities

FINANCING ACTIVITIES
Director Loan(1->5 Lot) Return -90,000.000
5 Year Bank Loan with Interest (1st & 2nd Lot) Debt Principal Payment -42,781.404
* According to IAS7, fixed asset depreciation & interest from long term loan are categorized under Operating Activities.
Capital & Shares 0.000
Retained Earnings & Share Divendend 0.000
Total Cash Flow from Financing Activities

Net Cash (Increase)

Cash & Cash Equivalent (Beginning)
Cash & Cash Equivalent (Ending)
Income Tax (Audit Source : for year 2015, Legal resever from Operation profit 15939 OMR)

Net Cash Flow from Operating Activites to Sale(Goods&Services)

Net Cash Flow from Operating Activites to Net Income
Cash Flow Coverage Ratio
 BALANCE SHEET (MGW)
YEAR 2016
ASSET
Cash & Cash Equivalents
* value in OMR Cash (External & Internal)
Bank Deposit
Total Cash
Account Receivable
Mr. Mohamed (Water Shortage + Factory Advance No bill)
Advanced Payment (Refrigeration Section+ Forklift)
Processing & Fish Sale (OFC+SFZ+MayaAli+Bahahi+Lin+Said)
Petty Cash A/C
Prepaid/Deposit & Installment Sale
Personal Loan (Hamood & Muktar)
Total Account Receivables

INVENTORY (Fish Stock)

TOTAL Current Asset

Fixed Asset
(All fixed assets before 2014 set as expenses e.g factory building)
124,390.741 TOTAL ASSETS

LIABILITY & EQUITIES

Current Liabilities (A/P)
0.000 Short Term Loans (SFZ)
Deferred Payment (SFZ Mackerel Advanced)
Deferred Payment (SBC / Dech Reefer Supplies)
Fish Buy - A/P Fishermen
Deferred Payment (Dodge Installment/Labour/Apartment)
Total Current Liabilities
Long Term Liabilities
Director Loan(1->5 Lot)
-132,781.404 5 Year Bank Loan with Interest (1st & 2nd Lot)
Total Long-term Liabilities
-8,390.663
47,166.203 Total Liabilities
38,775.540
0.000 EQUITY & SHARE HOLDERS
Capital & Retained Earnings
0.14 Profit & Loss (2016)
0.922 Share Divendend
15.63 Total Equity & Share Holders ** value in OMR

TOTAL LIABILITY & CAPITAL

 INCOME STATEMENT [Masirah Golden Waves]
For the period bebtween 1 Jan - 31 Dec 2016

MONTHLY REVENUE & EXPENSES

REVENUE
Processing Charges + Goods Sales & Services

Total Revenue

EXPENSE
Primary COGS
Raw Materials, Goods for Export Processings *
Electric, Water & Waste Tratement Fees
Production Supplies & Maintenance
Payroll, Bonus & Foods for Workers & Labours
Transport, Cargo Handling & Export Documenation
Total Primary COGS

OVERHEAD COSTS
Communication & Travelling Expenses
Office & Accommodation
H/R ,Government Fees & Miscs
Allowance & Entertainment
Plant Repair & Renovation
Annual Depreciation (Equipments)
Total Overheads

Total Expense

Gross Profit
HEET (MGW)
R 2016 Wokr Sheet (MGW Cash Flow y
1-Jan-16 31-Dec-16
ACCOUNT NAME
12,349.958 5,144.994
34,816.245 33,630.547
47,166.203 38,775.541 DEBIT
Cash & Cash Equivalents
51,425.762 51,425.762 Cash (External & Internal)
- 5,904.166 Bank Deposit
27,893.314 61,909.388 Account Receivable
3,142.447 1,900.012 Mr. Mohamed (Water Shortage + Factory Ad
3,950.000 2,800.000 Advanced Payment (Refrigeration Section+
5,750.000 3,300.000 Processing & Fish Sale (OFC+SFZ+MayaAl
92,161.523 127,239.328 Petty Cash A/C
Prepaid/Deposit & Installment Sale
19,615.348 62,327.578 Personal Loan (Hamood & Muktar)

158,943.074 228,342.447 INVENTORY (Fish Stock)

11,126.400 8,344.800 Fixed Asset

Fixed Asset Depreciation
170,069.474 236,687.247
Debit Total

CREDIT
- 38,400.000 Current Liabilities (A/P)
- 25,906.944 Short Term Loans (SFZ)
23,924.653 2,641.145 Deferred Payment (SFZ Mackerel Advanced
2,001.888 21,599.150 Deferred Payment (SBC / Dech Reefer Supp
9,588.000 11,519.000 Fish Buy - A/P Fishermen
35,514.541 100,066.239 Deferred Payment (Dodge Installment/Lab

490,000.000 400,000.000 Long Term Liabilities

174,344.192 131,562.788 Director Loan(1->5 Lot)
664,344.192 531,562.788 5 Year Bank Loan with Interest (1st & 2nd L
Montly 5 Year Loan Interest Payment
699,858.733 631,629.027

Equity
(529,789.322) (529,789.322) Capital & Shares
- 134,847.479 Retained Earnings
- - Share Divendend
(529,789.322) (394,941.844)
Credit Total
170,069.411 236,687.183
ah Golden Waves] Change in Debit / Credit
- 31 Dec 2016
Dif
Amount(OMR)

CASH FLOW From

921267.703945744
Operating Activities
921267.7039457 Net Profit(Loss) (Year 2016

Mr. Mohamed (Water Shortage + Factory Advance No bill)

Advanced Payment (Refrigeration Section+ Forklift)
Processing & Fish Sale (OFC+SFZ+MayaAli+Bahahi+Lin+Said)
278557.11985698 Petty Cash A/C
42269.86 Prepaid/Deposit & Installment Sale
85644.317 Personal Loan (Hamood & Muktar)
191634.516
88089.234 INVENTORY (Fish Stock)
686195.046857
Short Term Loans (SFZ)
Deferred Payment (SFZ Mackerel Advanced)
14845.19 Deferred Payment (SBC / Dech Reefer Supplies)
22922.362 Fish Buy - A/P Fishermen
32828.669668 Deferred Payment (Dodge Installment/Labour/Apartment)
5397.68
21449.6768 Investment Activities
2781.6 Fixed Asset Depreciation(Asset before 2014 assume as expenses
100225.178468
Financing Activities
Director Loan(1->5 Lot)
5 Year Bank Loan with Interest (1st & 2nd Lot)
786420.225325 Montly 5 Year Loan Interest Payment

Capital & Shares

134847.4786208 Retained Earnings & Share Divendend
Net Cash

Sum
okr Sheet (MGW Cash Flow year round 2016)
*value in OMR
Beginning Analysis Ending
Balance Debit Credit Balance
(1Jan) (31Dec)

12,349.958 - 7,204.964 5,144.994

34,816.245 - 1,185.698 33,630.547

51,425.762 - 51,425.762
- 5,904.166 5,904.166
27,893.314 34,016.074 61,909.388
3,142.447 - 1,242.435 1,900.012
3,950.000 - 1,150.000 2,800.000
5,750.000 - 2,450.000 3,300.000

19,615.348 42,712.230 62,327.578

11,126.400 2,781.600 8,344.800

170,069.474 236,687.247

- 38,400.000 38,400.000
- 25,906.944 25,906.944
23,924.653 21,283.508 2,641.145
2,001.888 19,597.262 21,599.150
9,588.000 1,931.000 11,519.000

490,000.000 90,000.000 400,000.000

174,344.192 42,781.404 131,562.788

- ###
(529,789.322) 134,847.479 (394,941.844)
- ###

170,069.411 236,687.183
 236,697.382 236,697.381

(0.001)

INCREASE DECREASE

134,847.479

Factory Advance No bill) -

Section+ Forklift) 5,904.166
+MayaAli+Bahahi+Lin+Said) 34,016.074
1,242.435
1,150.000
2,450.000

42,712.230

38,400.000
25,906.944
efer Supplies) 21283.5081
19,597.262
ment/Labour/Apartment) 1,931.000

fore 2014 assume as expenses 2,781.600

- 90,000.000
t & 2nd Lot) - 42,781.404

-
-
8,390.662

236,697.381 236,697.382
(0.001)
 BALANCE SHEET (MGW)
YEAR 2016
ASSET Amount (OMR)
Cash & Cash Equivalents
Cash (External & Internal) 5,144.994
Bank Deposit 33,630.547
Total Cash 38,775.541
Account Receivable
Mr. Mohamed (Water Shortage + Factory Advance No bill) 51,425.762
Advanced Payment (Refrigeration Section+ Forklift) 5,904.166
Processing & Fish Sale (OFC+SFZ+MayaAli+Bahahi+Lin+Said) 61,909.388
Petty Cash A/C 1,900.012
Prepaid/Deposit & Installment Sale 2,800.000
Personal Loan (Hamood & Muktar) 3,300.000
Total Account Receivables 127,239.328

INVENTORY (Fish Stock) 62,327.578

TOTAL Current Asset 228,342.447

Fixed Asset 8,344.800

(All fixed assets before 2014 set as expenses e.g factory building)
TOTAL ASSETS 236,687.247

LIABILITY & EQUITIES

Current Liabilities (A/P)
Short Term Loans (SFZ) 38,400.000
Deferred Payment (SFZ Mackerel Advanced) 25,906.944
Deferred Payment (SBC / Dech Reefer Supplies) 2,641.145
Fish Buy - A/P Fishermen 21,599.150
Deferred Payment (Dodge Installment/Labour/Apartment) 11,519.000
Total Current Liabilities 100,066.239
Long Term Liabilities
Director Loan(1->5 Lot) 400,000.000
5 Year Bank Loan with Interest (1st & 2nd Lot) 131,562.788
Total Long-term Liabilities 531,562.788

Total Liabilities 631,629.027

EQUITY & SHARE HOLDERS

Capital & Retained Earnings (529,789.322)
Profit & Loss (2016) 134,847.479
Share Divendend -
Total Equity & Share Holders ** value in OMR (394,941.844)

TOTAL LIABILITY & CAPITAL 236,687.183

 INCOME STATEMENT [Masirah Golden Waves]
For the period bebtween 1 Jan - 31 Dec 2016

MONTHLY REVENUE & EXPENSES Amount (OMR)

REVENUE
Processing Charges + Goods Sales & Services 921267.703945744

Total Revenue 921267.70394575

EXPENSE
Primary COGS
Raw Materials, Goods for Export Processings * 278557.119856976
Electric, Water & Waste Tratement Fees 42269.86
Production Supplies & Maintenance 85644.317
Payroll, Bonus & Foods for Workers & Labours 191634.516
Transport, Cargo Handling & Export Documenation 88089.234
Total Primary COGS 686195.04685698

Total Gross Profit 235072.65708877

OVERHEAD COSTS
Communication & Travelling Expenses 14845.19
Office & Accommodation 22922.362
H/R ,Government Fees & Miscs 32828.669668
Allowance & Entertainment 5397.68
Plant Repair & Renovation 21449.6768
Annual Depreciation (Equipments) 2781.6
Total Overheads 100225.178468

Total Expense 786420.22532498

Total Net Profit 134847.47862077

 Financial Ratio

Common Sized LIQUIDITY RATIO

Current Ratio = Current Asset / Current Liabilities
2.17% Quick Ratio = (Current Asset - Inventory)/Current Liabilities
14.21%
16.38%
ACTIVITY RATIO
21.73% Account Receivable Turnover = Net receivable sales/ Average net receivables
2.49% * All sale regarded as A/R sale, no return, end 2015 A/R is 37694.31 OMR
26.16% Average Collection Period = 365 / Receivable Turnover
0.80% Invertory Turnover = COGS/Average Inventory
1.18% * End 2015 Inventory is 19615.28 OMR
1.39% Assets Turnover = Net Sale/Total Asset
53.76%
DEBT RATIO
26.33% Total Debt to Total Asset Ratio = Total Debt/Total Asset
Debt to Equity Ratio = Debt / Equity
96.47% Interest Coverage Ratio = Profit(EBIT) / Interest
* 2016 Whole Year Interest is 7960.959OMR
3.53% PROFITABILITY RATIO
Earning per Share = Net Profit / No. of Shares distributed
100.00% Gross Profit Margin = Gross Profit / Sale
Net Profit Margin = Net Profit / Sale
Return on Asset = Net Profit(EBIT) / Total Asset
Return on Equity = Net Profit / Equity
16.22%
10.95%
1.12%
9.13%
4.87%
42.28%

169.00%
55.59%
224.58%

266.86%

-223.84%
56.97%
0.00%
-166.86%

100.00%
Common Sized

100.00%

100.00%

30.24%
4.59%
9.30%
20.80%
9.56%
74.48%

25.52%

1.61%
2.49%
3.56%
0.59%
2.33%
0.30%
10.88%

85.36%

14.64%
 2.2819
1.6590

erage net receivables 18.4987

7694.31 OMR
19.73 Days
16.7481

3.8923

2.6686
(1.5993)
) / Interest 17.9386

distributed N/A
0.2552
0.1464
0.6034
(0.3414)
 BALANCE SHEET (MGW)
YEAR 2016
ASSET Year End 2015 Year End 2016
Cash & Cash Equivalents
Cash (External & Internal) 12,349.958 5,144.994
Bank Deposit 34,816.245 33,630.547
Total Cash 47,166.203 38,775.541
Account Receivable
Mr. Mohamed (Water Shortage + Factory Advance No b 51,425.762 51,425.762
Advanced Payment (Refrigeration Section+ Forklift) - 5,904.166
Processing & Fish Sale (OFC+SFZ+MayaAli+Bahahi+L 27,893.314 61,909.388
Petty Cash A/C 3,142.447 1,900.012
Prepaid/Deposit & Installment Sale 3,950.000 2,800.000
Personal Loan (Hamood & Muktar) 5,750.000 3,300.000
Total Account Receivables 92,161.523 127,239.328

INVENTORY (Fish Stock) 19,615.348 62,327.578

TOTAL Current Asset 158,943.074 228,342.447

Fixed Asset 11,126.400 8,344.800

(All fixed assets before 2014 set as expenses e.g factory building)
TOTAL ASSETS 170,069.474 236,687.247

LIABILITY & EQUITIES

Current Liabilities (A/P)
Short Term Loans (SFZ) - 38,400.000
Deferred Payment (SFZ Mackerel Advanced) - 25,906.944
Deferred Payment (SBC / Dech Reefer Supplies) 23,924.653 2,641.145
Fish Buy - A/P Fishermen 2,001.888 21,599.150
Deferred Payment (Dodge Installment/Labour/Apar 9,588.000 11,519.000
Total Current Liabilities 35,514.541 100,066.239
Long Term Liabilities
Director Loan(1->5 Lot) 490,000.000 400,000.000
5 Year Bank Loan with Interest (1st & 2nd Lot) 174,344.192 131,562.788
Total Long-term Liabilities 664,344.192 531,562.788

Total Liabilities 699,858.733 631,629.027

EQUITY & SHARE HOLDERS

Capital & Retained Earnings (529,789.322) (529,789.322)
Profit & Loss (2016) - 134,847.479
Share Divendend - -
Total Equity & Share Holders ** value in OMR (529,789.322) (394,941.844)

TOTAL LIABILITY & CAPITAL 170,069.411 236,687.183

 INCOME STATEMENT [Masirah Golden Waves]
For the period (1 Jan - 31 Dec 2016)

MONTHLY REVENUE & EXPENSES Year 2015 Year 2016

REVENUE
Processing Charges + Goods Sales & Services 1,239,594.061 921,267.704

Total Revenue 1,239,594.061 921,267.704

EXPENSE
Primary COGS
Raw Materials, Goods for Export Processings * 535,067.506 278,557.120
Electric, Water & Waste Tratement Fees 67,228.170 42,269.860
Production Supplies & Maintenance 48,237.480 85,644.317
Payroll, Bonus & Foods for Workers & Labours 222,328.249 191,634.516
Transport, Cargo Handling & Export Documenation 19,891.800 88,089.234
Total Primary COGS 892,753.205 686,195.047

OVERHEAD COSTS
Communication & Travelling Expenses 42,181.545 14,845.190
Office & Accommodation 23,571.059 22,922.362
H/R ,Government Fees & Miscs 25,357.568 32,828.670
Allowance & Entertainment 4,439.639 5,397.680
Plant Repair & Renovation N/A 21,449.677
Annual Depreciation (Equipments) 2,781.600 2,781.600
Total Overheads 98,331.411 100,225.178

Total Expense 991,084.616 786,420.225

Gross Profit 248,509.445 134,847.479

% Change

-58.34%
-3.41%
-17.79%

0.00%
N/A
121.95%
-39.54%
-29.11%
-42.61%
38.06%

217.75%

43.66%

-25.00%

39.17%

N/A
N/A
-88.96%
978.94%
20.14%
181.76%

-18.37%
-24.54%
-19.99%

-9.75%

0.00%
N/A
N/A
25.45%

39.17%
% Change

-25.68%

-25.68%

-47.94%
-37.12%
77.55%
-13.81%
342.84%
-23.14%

-64.81%
-2.75%
29.46%
21.58%
N/A
0.00%
1.93%

-20.65%

-45.74%