Our endeavour is to enhance Stakeholders' Value - Uflex Ltd.

DIRECTOR’S FLEX AMERICA REPORT INC.
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UFLEX LIMITED
NOTES TO FINANCIAL STATEMENTS MARCH 31, 2009 AND 2008
NOTE E: INCOME TAXES
The Company records taxes using the liability method required by the Statement of Financial Accounting Standards No.109,
“Accounting for Income Taxes”. Under Statement 109, deferred tax assets and liabilities are recorded for the temporary diff erences
between the fi nancial reporting basis and the tax basis of the Company’s assets and liabilities at enacted rates expected to be in
eff ect when such amounts are realized.
NOTE F: CONTINGENCIES
Litigation
There are no legal actions pending against the Company.
NOTE G: PROPERTY AND EQUIPMENT
Property and equipment as of March 31 were:
2009 2008
$ Rs in Lacs $ Rs in Lacs
Furniture and equipment 28,874 14.65 16,928 8.59
Automobiles 35,597 18.06 35,597 18.06
64,471 32.71 52,525 26.65
Less accumulated depreciation 30,872 15.66 17,533 8.89
SUPPLEMENTARY INFORMATION FOR THE YEARS ENDED MARCH 31, 2009
SCHEDULE I
TWENTIETH ANNUAL REPORT 2008 - 2009
33,599 17.05 34,992 17.76
2009 2008
$ Rs in Lacs $ Rs in Lacs
COST OF GOODS SOLD -
Opening inventory 3,062,439 1,553.58 1,317,294 668.26
Transferred to Ufl ex Packaging, Inc. (Note C) (895,890) (454.48) -
-
Adjusted opening inventory 2,166,549 1,099.10 1,317,294 668.26
Purchases - net of returns (Note B) 17,145,982 8,698.16 17,025,039 8,636.80
Customs duty 691,990 351.05 513,346 260.42
Harbor maintenance fee 20,689 10.50 4,731 2.40
Merchandising processing fee 33,376 16.93 7,945 4.03
Anti Dumping Duty 279,051 141.56 -
-
Total Costs 20,337,637 10,317.30 18,868,355 9,571.91
Less ending inventory (Note C) 1,437,645 729.32 3,062,439 1,553.58
TOTAL COST OF GOODS SOLD
The accompanying notes are an integral part of these fi nancial statements.
18,899,992 9,587.98 15,805,916 8,018.33