INDEPENDENT AUDITOR'S REPORT
TO THE SHAREHOLDERS OF M/s Lanthunku Multipurpose Pvt. Ltd.
Opinion
We have audited the accompanying Financial Statements of M/s Lanthunku Multipurpose Pvt. Ltd. which comprises the Statement of Financial
Position as at Ashadh 31, 2080, Statement of Profit or Loss & Other Comprehensive Income, Statement of Changes in Equity & Statement of Cash
Flows for the year ended Ashadh 31, 2080, and Notes to Financial Statement including Summary of Significant Accounting Policies.
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Financial Statements give a true
and fair view in conformity with Nepal Accounting Standards (NASs), of the state of affairs of Ws Lanthunku Multipurpose Pvt. Ltd. as at
Ashadh 31, 208(1, and its profit, cash flows for the year ended on that date.
Basis of Opinion
We conducted our audit of the financial statements in accordance with the Nepal Standard on Auditing (NSAs) & applicable law. Our
responsibilitie under those Standards are further described in the Auditor's Responsibility for the audit of the Financial Statements section of
our report.
We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of Nepal (ICAN),
and we have fulfilled our ethical responsibilities in accordance with these requirements.
We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis of our audit opinion on financial statements.
Key Audit Matter(s)
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the
current year. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon,
and we do not provide a separate opinion on these matters.
We have determined that there are no key audit matters to communicate in our report.
Managements Responsibility for the Financial Statements
Management is responsible for preparation and fair presentation of the Financial Statements in accordance with the Nepal Accounting Standards
(NASs) and for such internal control as management determines is necessary to enable the preparation of Financial Statements that are free from
material misstatement, whether due to fraud or error.
In preparing the Financial Statements, management is responsible for assessing its ability to continue as a going concern, disclosing, as
applicable, matters related to going concern and using the going concern basis of accounting unless the management either intends to liquidate
or cease operations, or has no realistic alternative but to do so.
Those charged with governance are responsible for overseeing the Company's Financial Reporting process.
Auditor's Responsibility for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement,
whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance but is
not a guarantee that an audit conducted in accordance with NSAs will always detect a material misstatement when it exists. Misstatements can
arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably he expected to influence the
economic decision of users taken on the basis of these Financial Statements.
As part of an audit in accordance with NSAs, we exercise professional judgement and maintain professional skepticism throughout the audit. We
also:
i) Identify and assess the risk of material misstatement of the financial statements, whether due to fraud or error, design and perform audit
procedures responsible to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of
not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentation, or the override of internal controls.
ii) Obtain an understanding of Internal Control relevant to audit in order to design audit procedures that are appropriate in the circumstances,
but not for the purpose of expressing an opinion on the effectiveness of Company's Internal Control.
lii) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the
management.
iv) Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtainec
whether a material uncertainty exists related to events or conditions that may cast significant doubt on its ability to continue as a going concern.
If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the
Financial Statements or, if such disclosures are Inadequate, to modify our opinion.
Our conclusions are based on the audit evidence obtained up to the date of our Audit Report. However, Future events or conditions may cause
the Company to cease to continue as a going concern.
v) Evaluate the overall presentation, structure, and content of the financial statements, including the disclosures, and whether the financial
statements represent the underlying transadioos and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant
audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also communicate with those charged with governance that we have complied with relevant ethical requirements regarding independence,
and to communicate with them all relationships and other matters that may reasonably be thought to hear on our independence, and where
applicable, related safeguards.
Report on the Other Legal & Regulatory Requirements
(i) We have obtained information and explanations asked for, which, to the best of our knowledge and belief, were necessary for the purpose of
our audit.
(ii) Company has kept proper books of accounts as required by law, so far as it appears from the examination of those books of accounts,
(iii) Statement of Financial Position, Statement of Profit or Loss & Other Comprehensive Income, Statement of Changes in Equity and Statement
of Cash Flows have been prepared in accordance with the requirements of the Companies Act, 2063 and are in agreement with the books of
account of the Company.
(iv) During our examination at the books of account of the Company, we have not come across the cases where the Board of Directors or any
member of there or any representative or any office holder or any employee of the Company has acted contrary to the provisions of law or
caused loss or damage to the Company, and
(v) We have not come across any fraudlent activities in the books of accounts.
Other Matters
The Financial Statements of Ws Lanthunku Multipurpose Pvt. Ltd. for the year ended Ashadh 32,2079 were audited by N.S.S. fe Associates who
expressed an unmodified opinion on those statements or the Audit Report.
Therefore, as a part of our audit of the Financial Statements for the year ended we would like to state that we were not engaged to audit, review,
or apply any procedures to the Financial Statements for the year ended.
Accordingly, we do not express an opinion or any other form of assurance on the Financial Statements for the year ended.
am)artiiestha
N
irOrietor
D.L. Shrestha & Associates
Registered Auditors
/
Place: Kathmandu
Date:
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Ws Lanthunku Multipurpose Pvt. Ltd.
Naxal, Kathmandu
Statement of Financial Position
As on Ashad 31, 2080 (July 16, 2023)
Ashad 31, 2080
Particulars
Assets
Non-Current Assets
Property, Plant & Equipment
Deferred Tax
Total Non-Current Assets
1
Curent Assets
Cash & Cash Equivalents
Advances & Deposits
Total Current Assets
2
3
Total Assets
Equity & Liabilities
Equity
Share Capital
Reserve & Surplus
Total Equity
4
5
Ashad 32,2079
32,767.88
244,288.00
277,055.88
37,449.00
-
6,448,90
145,381.04
151,829.94
103,009.87
1,134,845.12
1,237,854.99
428,885.82
1,275,303.99
37,449.00
1,000,000.00
(626,839.19)
373,160.82
1,000,000.00
106,023.94
55,725.00
55,725.00
169,280.05
169,280.05
428,885.82
1,275,303.99
1,106,023.94
Current Liabilities
Other Liabilities & Provisions
Total Current Liabilities
Total Equity & Liabilities
6
Notes to the Accounts
As per our attached report of even date
For. D.L. Shrestha & Associates
Proprietor
Kathmandu
Date
Direc
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LATHUKii1
MULTIPURPOSE PVT. LTD.
J
Dambl Shrestha
Proprietor
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Ws Lanthunku Multipurpose Pvt. Ltd.
Naxal, Kathmandu
Statement of Income Statement
For the Period Ended Ashad 31,2080 (July 16, 2023)
Particulars
Schedule
Ashad 31, 2080
-
Sales
Less: Cost of Sales
Gross Profit
Other income
Ashad 32,2079
2,323,008.56
2,323,008.56
2,323,008.56
Less:
Administrative Expenses
Depreciation
Profit/ ( Loss) Before Tax
Less: Accumulated Loss upto Last Year
7
4,681.13
1,514,485.00
6,456.06
(977,151.13)
802,067.50
(977,151.13)
Net Profit/ (Loss) Before Tax
-
Income Tax
Deferred Tax
Net Profit / (Loss ) for the Year
Notes to the Accounts
972,470.00
696,043.56
106,023.94
26,505.99
-
244,288.00
(732,863.13)1
79,517.95
8
As per our attached report of even date
For: D.L. Shrestha & Associates
Proprietor
Kathmandu
Date
Dambar La Shrestha
Proprietor
1LANTHIJWl
MULTIPURPOSE PVT. LTD.
MIs Lanthunku Multipurpose Pvt. Ltd.
Naxal, Kathmandu
Cash Flow Statement
For the Period Ended Ashad 31, 2080 (July 16, 2023)
Particulars
Cash Flow from Operating Activities:
Net Profit after 'Fax
Depreciation
Deferred Tax Assets
Proviison for Tax
Cash Flow Before Changes in Working Capital
Changes in Working Capital:
(Increase)/ Decrease in Inventory
(Increase)! Decrease in Advance & Deposits
(Increase)/ Decreasein Trade Receivables
Increase/ (Decrease) in Trade Payable
Increase! (Decrease) in other liabilities & Borrowings
A. Net Cash Flow from Operating Activities
Cash Flow from Investing Activities:
Purchases of Property, Plant & Equipment
B. Net Cash Flow from Investing Activities
Ashad 31, 2080
Ashad 32, 2079
(732,863.13)
4,681.13
(244,288.00)
(972,470.00)
989,464.09
802,067.50
6,456.06
26,505.99
835,029.55
(822,365.12)
(113,555.05)
(96,560.96)
-
134,724.06
147,388.49
(39,420.00)
(39,420.00)
Cash Flow from Financing Activities:
Dividend Paid
Increase/ (Decrease) in Short term Borrowings
C. Net Cash Flow from Financing Activities
Total Cash Flow (A+B+C)
(96,560.96)
(42,031.51)
Opening Cash & Bank Balances
103,009.87
145,041.38
6,448.90
103,009.87
*AIVI
Closing Cash & Bank Balances
LANTHU1
MULTIPURPOSE PVT. LTD.
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(150,000.00)
(150,000.00)
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Lanthunku Multipurpose Pvt. Ltd.
Naxal, Kathmandu
Schedules Forming Parts of the Accounts
For the Period Ended Ashad 31, 2080 (July 16, 2023)
Cash & Cash Equivalents
Particulars
Cash in Hand (As certified)
Schedule-2
Ashad 31, 2080
5,200.00
Ashad 32, 2079
57,107.87
Bank Balances
Current Account
Kuniari Bank
Total
1,248.90
45,902.00
6,448.90
103,009.87
Schedule - 3
Advances & Deposits
Particulars
Advance to Suppliers
Advance Income Tax
Total
Ashad 31, 2080
142,630.92
2,750.12
145,381.04
Share Capital
Ashad 32, 2079
1,100,000.00
34,845.12
1,134,845.12
Schedule-4
Particulars
Ashad 31, 2080
Ashad 32,2079
Authorised Capital:
25,000 Equity Shares of Rs. 100 each
2,500,000.00
2,500,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
Issued Capital:
10,000 Equity Shares of Rs. 100 each
Paid Up Capital:
10,000 Equity Shares of Rs. 100 each
Total
Schedule-5
Reserves & Surplus
Particulars
Accumulated Profit! (loss) upto Previous Year
Dividend Paid
Profit/ (Loss) for the Year
Total
41V~l
LANTHLhWI
MULTIPURPOSE _PVT. LTD.
Ashad 31, 2080
106M2. 94
-
(732,863.13)
(626,839.19)
Ashad 32,2079
(696,043.56)
-
802,067.50
106,023.94
Ws Lanthunku Multipurpose Pvt. Ltd.
Naxal, Kathmandu
Schedules Forming Parts of the Accounts
For the Period Ended Ashad 31, 2080 (July 16, 2023)
Other Liabilities & Provisions
Particulars
Income Tax
Audit Fee Payable
VAT payable
TDS on rent
TDS on salary
TDS on audit fee
Other Payable
Total
Ashad 31,2080
11,150.00
9,500.00
75.00
35,000.00
55,725.00
LANTHwa
MULTIPURPOSE PVt LTD.
Ashad 32,2079
26,505.99
5,575.00
121,424.06
2,400.00
13,300.00
75.00
169,280.05
Schedule - 7
Administrative Expenses
Particulars
Office personal Expenses
Telephone & recharge
Travelling & fuel
Printing and stationery
Office Rent
Audit Fee
Electricity & Water
Refreshment
Miscellencous Expenses
Total
Schedule -6
Ashad 31,2080
950,000.00
6,000.00
1,000.00
820.00
5,650.00
4,200.00
3,600.00
1,200.00
972,470.00
Ashad 32,2079
1,330,000.00
18,450.00
61,450.00
19,580.00
24,000.00
5,650.00
21,450.00
32,450.00
1,455.00
1,514,485.00
Ws Lanthunku Multipurpose Pvt. Ltd.
Naxal, Kathmandu
Schedules Forming Parts of the Accounts
For the Period Ended Ashad 31, 2080 (July 16,2023)
Schedule- 8
Significant Accounting Policies & Notes to the Accounts
A Significant Accounting Policies
1 Accounting Conventions
The Financial Statements of "M/s Lanthuku Multipurpose Pvt. Ltd." (604273675) are prepared under the Histrocial Cost
Convention on an Accural Concept and are in accordance with Nepal Accounting Standards and others applicable laws
prevalent in Nepal. The accounting policies are consistently applied by the company.
2 Use of estimates:
The preparation of Financial Statements in confirmity with generally accepted accounting principles requires estimates and
assumptions to be made that affect the reported amounts of revenue & expenses during the reporting period.
3 Property, Plant & Equipment and Depreciation
Property, Plant & Equipment are stated at cost inclusive of all expenses incurred in commissioning/ putting them into use,
less accumulated depreciation.
B Notes to the Accounts
1 Recognition of Deferred Tax Assets & Liability
a) Nepal Accounting Standard on Income Taxes as 12 (NAS 12)-" Income Taxes" issued by the Accounting Standard Board of
Nepal, has been adopted.
b) Deferred tax is measured based on the tax rates and the laws enacted or substantively enacted at the balance sheet date.
Deferred tax assets are recognized only to the extent that there is reasonable certaintly that sufficient future taxable income
will be available against which such deferred tax assets are realized.
The company has recognized deferred tax assets/liability amounting to Rs.244,288.00 which resulted from the timing
differences between the Book Profit and Tax Profit, for the reporting period ended Ashad 31, 2080 (July 16, 2023) in Income
Statements, the details of which is as under:
Particulars
Carrying Amount
Tax Base
Difference
Tax Rate
DTA/(DTL)
Timing Difference
i) Carry Forward Loss
-
977,151.13
977,151.13
25.00%
244,288.00
244,288.00
ii) Opening Balance
Deferrd Tax Assets/(Liability)
-
244,288.00
2 Previous Years figures have been regrouped/rearranged wherever necessary.
3 Schedule 1 to 10 form the integral parts of the Financial Statements
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[MULTIPURPOSE PVT. LTD.
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