Association for the Development of Rural Capacities
Income Statement
For the Period Ended
Y2011
In US Dollars
Y2011
Y2010
Revenue
Sales of Production
Cost of Goods Sold
Beginning Inventory
Add: Purchases
Total
Less: Ending Inventory
Cost of Goods Sold
8,103
20,159
2,595
2,595
2,595
5,507
6,325
6,325
6,325
13,833
Gross Profit
Add:
Donation Funds
MC Interest Income
MC File Fees Income
MC Insurance Income
Other Income (Individuals,Bank Interest,etc)
Revenue from Operations
Add:
Donor Project Funds
41,990
496,608
90,798
13,250
96,594
744,748
5,960
446,456
66,601
10,856
44,408
588,114
1,273,489
367,123
Total Renenue
2,018,236
955,237
Wages
Allowances
Miscellaneous Administrative Overheads
Depreciation
Maintenance and Repairs
Center Supplies
Consultants
Transportation
Communication
Rent
Insurance
Legal Fees
Training and Development
Utilities
Tax on Nonresidents
NSSF
VAT
Entertainment
Interest
Donations and Other Project Expenses
Stamp, Fiscal and Municipal Charges
Bank Charges
Difference of Exchange
Write offs/Loss on doubtful Accounts
Miscellaneous (Consumables, Refunds, Irrecoverables)
Expenses From Operations
Add:
Donor Project Expenses
205,827
11,850
9,543
115,504
4,061
132,002
29,006
30,859
30,538
12,871
2,439
1,000
12,083
4,410
55,029
89
719
29,148
12,058
797
2,388
887
36,356
40,367
779,830
194,731
31,321
11,419
121,437
4,613
3
87,566
30,658
31,049
29,488
10,094
1,250
17,759
4,021
47,737
431
29,151
14,417
1,059
1,756
494
19,589
5,602
695,646
677,749
292,192
Total Expenses
1,457,579
987,838
(35,082)
(107,532)
560,658
(32,601)
Expenses
Income (Loss) From Operations
Total Income (Loss) for the period
Association For the Development of Rural Capacities
Statement of Changes in Reserves
For the Period Ended
Y2011
In US Dollars
Y2011
Y2010
Balance at the Beginning of the Period
2,446,049
2,478,649
5,507
41,990
496,608
90,798
13,250
96,594
1,273,489
13,833
5,960
446,456
66,601
10,856
44,408
367,123
2,018,236
955,237
205,827
12,058
481,947
757,748
194,731
14,417
459,056
319,634
1,457,579
987,838
3,006,706
2,446,049
Add:
Income for the period
Income from sales of production
Income from Donations
Income from MC interest
Income from MC file fees
Income from MC Insurance
Income from other (Individuals, Bank Interest, etc,)
Income from Project Donor Funds
Total Income for Period
Less:
Expenditure for the period
Wages
Donations, Baqaa, and Project Expenses
General And Administrative
Other
Total Expenditure for Period
Balance at the End of the Period
ASSOCIATION FOR THE DEVELOPEMENT OF RURAL CAPACITIES
BALANCE SHEET
For the Period Ended
Y2011
In US Dollars
Y2011
Y2010
ASSETS
Current Assets:
Cash in Hand
Cash in Bank
Cash for Projects
Cash in Transit
MC Accounts Receivable
Less: Provision For Doubtful Debts
MC Interest Receivable
Less: MC Accrued Income
VAT Receivable
NSSF Receivable
Advances to Employees
Other Receivable
Prepaid Expense
Subtotal
1,293
517,823
75,202
18,378
2,923,638
(43,855)
471,590
(471,590)
38,142
1,191
407
7,234
3,201
3,542,654
1,203
128,281
242,690
21,191
2,159,730
(32,396)
319,992
(319,992)
45,110
1,068
4,949
23,727
3,163
2,598,668
NonCurrent Assets:
Tangible Fixed Assets
Less: Accumulated Dep Tangible Fixed Assets
Intangible Fixed Assets
Less: Accumulated Dep Intangible Fixed Assets
Subtotal
Total Assets
1,434,034
(793,132)
907
(797)
1,459,071
(713,585)
45,907
(39,380)
641,011
752,012
4,183,665
3,350,680
1,126,401
9,113
512
3,822
6,401
871,546
4,906
560
3,327
5,506
1,146,250
885,845
LIABILITIES AND SHAREHOLDERS EQUITY
Current Liabilities
Payable to Banks
Other Accounts Payable
Employee Income tax Payable
NSSF Payable
Tax on Nonresidents
Subtotal
Non Current Liabilities
Provision For End of Service Indemnity
30,708
18,787
30,708
18,787
1,176,958
904,631
3,006,706
2,446,049
Total Equity
3,006,706
2,446,049
Total Liabilities & OE
4,183,665
3,350,680
Subtotal
Total Liabilities
Equity
Retained Earnings
Association for the Development of Rural Capacities
Cash Flow
For the Period Ended
Y2011
In US Dollars
CASH POSITION (Beginning of Period)
Y2011
Y2010
516,795
(319,856)
CASH RECEIPTS
Cash Sales & Collections fm CR accounts
Collection of MC Receivables & Receivables Previously WO
Collection of VAT Receivable
Collection of Other Receivables
Increase in Payables
Grants/ Cash injections
1,222
1,742
2,789,027
2,523,933
1,678
706,006
499,036
440,075
29,719
2,014,401
942,945
Loans/ Other cash Injections
570
8
TOTAL CASH RECEIPTS
5,952,980
3,997,384
6,469,775
3,677,529
TOTAL CASH AVAILABLE (BEFORE CASH OUT)
CASH PAID OUT
Purchases (Raw Material)
-
-
Purchases (consumables)
2,595
6,325
Training And Development
Gross wages
Outside services
1,000
1,250
337,829
282,297
11,507
10,650
Supplies (office & oper.)
-
Repairs & maintenance
2,505
Entertainment and Advertising
Transportation and Communication
Accounting & legal
3
3,133
719
431
42,442
45,106
2,439
-
Rent
16,650
15,600
NSSF
46,470
43,572
Utilities (Electricity, Water,..)
10,646
16,559
6,185
10,094
Insurance
Taxes (Received Income,VAT,7.5%, Fiscal and Municipal Fees.)
Interest
Other expenses (Donations,Baqaa, Other Project Expenses)
Other (DOE)
Miscellaneous (Interest Refund,Bank Charges,Fees,etc)
Issuance of MC Receivables
Increase In other Receivables
Advances to Suppliers/Employees
Settlement of Payables
SUBTOTAL
Loan principal payment
Capital purchase (Assets)
5,088
4,959
29,148
29,151
691,305
309,939
1,011
516
12,208
12,317
3,726,165
2,787,805
591,401
532,398
800
1,283
288,908
5,827,021
42,369
4,155,758
-
-
1,826
-
Other startup costs
-
-
Reserve and/or Escrow
-
-
Owners' Withdrawal
-
-
TOTAL CASH PAID OUT
CASH POSITION (End of Period)
5,828,847
640,928
4,155,758
(478,230)
ESSENTIAL OPERATING DATA (non cash flow information)
Sales Volume/Income
Accounts Receivable
Loss on Doubtful Accounts (EOY)
635,591
566,875
2,923,638
2,159,730
36,356
19,589
Inventory on hand (EOY)
-
-
Accounts Payable (EOY)
19,306
13,732
115,504
121,437
Depreciation
Association for the Development of Rural Capacities
Financial Ratios
For the Period Ended
Y2011
Y2011
Y2010
Liquidity Ratios
Current Ratio
=
Current Assets
Current Liabilities
=
3.09
2.93
Quick Ratio
=
Current Assets - Inventory
Current Liabilities
=
3.09
2.93
Cash Ratio
=
Cash + Marketable Securities
Current Liabilities
=
0.47
0.17
Debt Ratio
=
Total Debt
Total Assets
=
0.27
0.26
Debt-to-Equity Ratio
=
Total Debt
Total Equity
=
0.37
0.36
Interest Coverage
=
EBIT
Interest Charges
=
18.24
(2.12)
Gross Profit Margin
=
Sales - Cost of Goods Sold
Sales
=
0.68
0.69
Return on Assets
=
Net Income
Total Assets
=
0.13
(0.01)
Return on Equity
=
Net Income
ShareHolder Equity
=
0.19
(0.01)
Financial Leverage Ratios
Profitability Ratios