Balanse sheet 2010
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Auditor: Essam Mustafa Issa<br />
Authorized: Chartered Accountants.<br />
Tax accounting specialists<br />
Address: Aziz Fahmy Street - Cleopatra – Alexandria,<br />
Arab Republic of Egypt - phone 2110122564<br />
E-mail: essam_eyssa@yahoo.com<br />
Balance Sheet For<br />
Al-Muhtadi For Trading & Contracting.<br />
182 Street Omar Lutfi / Spore spared - Alexandria<br />
Tax Registration Number: 496 – 943 - 766<br />
Mission Of Taxes : Sidi Gaber<br />
=======<br />
1. Auditor's Report<br />
2. The balance <strong>sheet</strong> at 12.31.<strong>2010</strong><br />
3. Income and expenditure account for the year <strong>2010</strong><br />
4. Statement of depreciation<br />
Chartered accountant<br />
Essam Mustafa Issa
Auditor: Essam Mustafa Issa<br />
Authorized: Chartered Accountants.<br />
Tax accounting specialists<br />
Address: Aziz Fahmy Street - Cleopatra – Alexandria,<br />
Arab Republic of Egypt - phone 2110122564<br />
E-mail: essam_eyssa@yahoo.com<br />
To Respected Dr. / Majdi Zuhair Muhtadi<br />
The founder of Al-Muhtadi Group.<br />
Al-Muhtadi for Trading & Contracting Co.<br />
We have reviewed the accompanying financial statements for Al-Muhtadi for Trading & Contracting Co,<br />
which comprise the statement of financial position at 31/12/<strong>2010</strong> and all of the lists of comprehensive<br />
income, changes in equity and cash flows for the year then ended , and a summary of significant<br />
accounting policies and other explanatory notes .<br />
‣ In our opinion, the financial statements present fairly, in all material respects, the financial<br />
position of Al-Muhtadi For Trading & Contracting Co. in 31.12.<strong>2010</strong> and its financial<br />
performance and its cash flows for the year then ended in accordance with international<br />
standards for financial reporting.<br />
‣ It reserves established proper accounting records regularly accurate, although the accompanying<br />
financial statements are consistent with, and we recommend the administration to ratify it.<br />
‣ the Office audited balance <strong>sheet</strong> of the Al-Muhtadi for Trading & Contracting Co. that is<br />
located at 182 Avenue Omar Lutfi Street, Sporting – Alexandria, accompanying observed in<br />
31/12/<strong>2010</strong> According to the data and information provided to us by the person concerned and<br />
the audit found that they represent the fact that the financial position of the entity at that date<br />
and that the revenues and expenses represents the fact that activity was established examination<br />
for confirmation that an acceptable budget has been prepared in accordance with accounting<br />
standards and regulations in forced in the Arab Republic of Egypt .
Auditor: Essam Mustafa Issa<br />
Authorized: Chartered Accountants.<br />
Tax accounting specialists<br />
Address: Aziz Fahmy Street - Cleopatra – Alexandria,<br />
Arab Republic of Egypt - phone 2110122564<br />
E-mail: essam_eyssa@yahoo.com<br />
1. Al-Muhtadi For Trading & Contracting Co. Was formed in accordance to the provided<br />
information, and the public records was formed on the 8/11/2007 at the Ministry of Trade &<br />
Industry / Registry Authority Commercial / Office of Commercial Register in the area of<br />
Smouha / Alexandria under registration number ( 57851 ) and to institute established to actively<br />
carry out import and export and commercial agencies & contracting , the foundation is sole<br />
ownership of Mr. Dr. / Majdi Zuhair Mohyalddin Al-Muhtadi, and was born on 30.05.1963.<br />
The registered Capital and established the amount of 100,000 Egyptian pounds paid in full,<br />
And the legal entity of the facility has the individual owner of the facility investment value of<br />
$ 165,512,938.00 in United States American Dollar, at the facility other than the registered<br />
capital and paid in cash as reported statement of financial position attached.<br />
2. The principal activity of the company in the supply of Sugar, Wheat, Barley, Maize, Soya and<br />
Sunflower Oils. It also engaged in activity established export of petroleum products and<br />
petrochemicals, and cotton, and many industries. In addition to established activity in the real<br />
estate investment and infrastructure projects.<br />
3. The headquarters is established for the management of the city of Alexandria / Alexandria<br />
Governorate and the object in the 182 Street Omar Lutfi Sporting area and worked for the<br />
company's 58 employees ( permanent employment ) in addition to about 250 employees and<br />
workers ( labor irregular )<br />
Based upon our adoption of the budget and calculate the result mentioned,,,<br />
Chartered accountant<br />
Essam Mustafa Issa
Auditor: Essam Mustafa Issa<br />
Authorized: Chartered Accountants.<br />
Tax accounting specialists<br />
Address: Aziz Fahmy Street - Cleopatra – Alexandria,<br />
Arab Republic of Egypt - phone 2110122564<br />
E-mail: essam_eyssa@yahoo.com<br />
Balance Sheet 31/12/<strong>2010</strong><br />
All Calculations are in Foreign currency ( USD )<br />
Description Amount Grand total Description Amount Grand Total<br />
Fixed Assets<br />
Furniture $ 25,000.00<br />
Registered Capital $ 15,384.62<br />
Equipment's $ 45,000.00<br />
Owner Investment Capital $ 165,512,938.38<br />
Establishments Expense $ 65,000.00<br />
Net Revenue This year $ 24,726,727.00<br />
Projects under developments $ 182,550,000.00<br />
Grand Total $ 182,685,000.00 $ 182,685,000.00 Grand Total $ 190,255,050.00 $ 190,255,050.00<br />
Doubtful Depots $ 120,000.00 $ 120,000.00<br />
Current assets<br />
Depreciation Details<br />
Cash $ 32,450.00<br />
Furniture $ 6,250.00<br />
Banks $ 222,250.00<br />
Equipment's $ 11,250.00<br />
Customers $ 7,444,000.00<br />
Incorporation Cost $ 16,250.00<br />
Grand Total $ 7,698,700.00 $ 7,698,700.00 Grand Total $ 33,750.00 $ 33,750.00<br />
Paid-up Tax $ 25,100.00 $ 25,100.00<br />
Totals:<br />
$ 190,408,800.00<br />
Totals:-<br />
$ 190,408,800.00
Auditor: Essam Mustafa Issa<br />
Authorized: Chartered Accountants.<br />
Tax accounting specialists<br />
Address: Aziz Fahmy Street - Cleopatra – Alexandria,<br />
Arab Republic of Egypt - phone 2110122564<br />
E-mail: essam_eyssa@yahoo.com<br />
Calculation<br />
of Income<br />
Profit & Loss Statement for 31/12/<strong>2010</strong><br />
Calculation are in USD<br />
Aspect Chemical Company $<br />
-<br />
Coke Company ( Export of Urea ) $ 2,500,000.00<br />
Sudanese Commercial Center $ 520,000.00<br />
General services Authority<br />
of the Armed Forces $<br />
-<br />
Farjallah Co. $ 230,000.00<br />
Monalisa Furniture Company $ 780,112.00<br />
Good Tex & Yarn $ 1,110,000.00<br />
Real Estate Investments $ 25,150,000.00<br />
Contracts for Supply of Sugar<br />
for the Deistic Market $<br />
-<br />
Grand Total $ 30,290,112.00 $ 30,290,112.00<br />
Calculation of<br />
Expenses<br />
Power $ 54,025.00<br />
Water $<br />
980.00<br />
Salaries $ 180,000.00<br />
Commission $ 15,000.00<br />
Invitations $ 44,154.00<br />
Maintenance $ 4,500.00<br />
Cleaning $ 6,450.00<br />
Telephone and Internet $ 17,346.00<br />
Paper and office Items $ 5,480.00<br />
Travel and Transportation $ 550,800.00<br />
Advertisements $ 3,980,600.00<br />
Government Licensing & Permissions $ 520,300.00<br />
Doubtful Debits $ 120,000.00<br />
Depreciations of Furniture $ 6,250.00<br />
Depreciation of Equipment's $ 11,250.00<br />
Depreciation of Incorporation<br />
invested amount $ 16,250.00<br />
Auditors fee's $ 30,000.00<br />
Grand Total $ 5,563,385.00 $ 5,563,385.00<br />
Net Income :-<br />
$<br />
24,726,727.00
Auditor: Essam Mustafa Issa<br />
Authorized: Chartered Accountants.<br />
Tax accounting specialists<br />
Address: Aziz Fahmy Street - Cleopatra – Alexandria,<br />
Arab Republic of Egypt - phone 2110122564<br />
E-mail: essam_eyssa@yahoo.com<br />
Revealed Depreciation of Fixed Assets for the year <strong>2010</strong><br />
Assets Despription Cost of Assets<br />
Depreciation %<br />
Per Annam<br />
Ammount of<br />
Depreciation per Annam<br />
Depreciation<br />
Grand Total<br />
Furniture $ 25,000.00 25% $ 6,250.00 $ 6,250.00<br />
Equipment's $ 45,000.00 25% $ 11,250.00 $ 11,250.00<br />
The Founding Expenses $ 65,000.00 25% $ 16,250.00 $ 16,250.00<br />
Grand Total:- $ 135,000.00<br />
$ 33,750.00 $ 33,750.00<br />
Approved by the founder<br />
Dr. Majdi Z. Muhtadi
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