June 30 June 30
2021 2020
ASSETS:
Non-Current Assets
Property, Plant & Equipment 4.00 438,274 584,820
Total Non-Current Assets 438,274 584,820
Current Assets
Trade & Other Receivables 1,236,143 582,289
Advances, Deposits and Prepayments 5.00 830,908 -
Cash and Cash Equivalents 6.00 1,291,262 565,492
Total Current Assets 3,358,313 1,147,781
Total Assets 3,796,587 1,732,601
EQUITY AND LIABILITIES:
Equity
Share Capital 7.00 500,000 500,000
Share Money Deposit 8.00 24,678 24,678
Retained Earnings 2,142,326 867,841
2,667,004 1,392,519
Liabilities
Current liabilities
Trade & Other Payables 9.00 85,633 -
Liabilities For Expenses 10.00 1,043,949 340,082
1,129,582 340,082
Total Equity and Liabilities 3,796,587 1,732,601
Director
ATB Lab Ltd.
Dhaka:
August 14, 2021
Managing Director
ATB Lab Ltd.
Mohammad Ata Karim & Co.
Chartered Accountants
Signed in terms of our report of even date annexed.
ATB Lab Ltd.
Statement of Financial Position
As at June 30, 2021
The accompanying notes from 01 to 12 form an integral parts of these financial statements
Notes Amount in Taka
June 30 June 30
2021 2020
Service Revenue 11.00 7,125,780 6,555,951
Cost of Services 11.01 (4,003,162) (4,124,697)
Gross Profit 3,122,618 2,431,254
Operating and Administrative expenses 12.00 (1,862,587) (1,429,236)
Non-Operating Income/Expenses:
Foreign Exchange Gain 20,385 -
Foreign Exchange Loss (5,931) -
Net profit/loss as per previous years - (134,177)
Profit/(Loss) before tax 1,274,485 867,841
Income tax expense - -
Profit/(Loss) after tax 1,274,485 867,841
Director Managing Director
ATB Lab Ltd. ATB Lab Ltd.
Dhaka:
ATB Lab Ltd.
Statement of Profit or Loss and Other Comprehensive Income
For the Year ended June 30, 2021
Signed in terms of our report of even date annexed.
August 14, 2021
The accompanying notes from 01 to 12 form an integral parts of these financial statements
Notes Amount in Taka
Mohammad Ata Karim & Co.
Chartered Accountants
Share capital Share Money
Deposit
Retained
Earnings
Total Equity
Balance as at 1st July 2020 5,000,000 24,678 867,841 5,892,519
Addition/(Adjustments) during the year - - - -
Net Profit/(Loss) after tax for the year - - 1,274,485 1,274,485
Balance as at June 30, 2021 5,000,000 24,678 2,142,326 7,167,004
Director
ATB Lab Ltd.
Dhaka:
ATB Lab Ltd.
Statement of Changes in Equity
For the Year ended June 30, 2021
August 14, 2021
The accompanying notes from 01 to 12 form an integral parts of these financial statements
Signed in terms of our report of even date annexed.
Mohammad Ata Karim & Co.
Chartered Accountants
Managing Director
ATB Lab Ltd.
June 30 June 30
2021 2020
A) Cash flows from operating activities
Net Profit/ (Loss) during the year 1,274,485 1,002,018
Adjustment for Non-Cash Items:
Depreciation 146,546 135,580
(Increase)/ Decrease in Trade & Other Receivables (653,854) (582,289)
(Increase)/ Decrease in Advances, Deposits and Prepayments (830,908) -
Increase/ (Decrease) in Trade & Other Payables 85,633 -
Increase/ (Decrease) in Liabilities For Expenses 703,867 206,940
Net cash generated by/(used in) operating activities 725,770 762,249
B) Cash flows from investing activities
Fixed Asset Addition (720,400)
Net cash (used in)/generated by investing activities - (720,400)
C) Cash flows from financing activities
Share Capital - -
Share Money Deposit - -
Net cash provided by /(used in) financing activities - -
D) Net increase/(decrease) in cash and cash equivalent (A+B+C) 725,770 41,849
E) Opening cash and cash equivalents 565,492 523,643
F) Closing cash and cash equivalents as at 30 June 2021 1,291,262 565,492
Dhaka:
September 30, 2020
Director
ATB Lab Ltd.
Managing Director
ATB Lab Ltd.
Signed in terms of our report of even date annexed.
Chartered Accountants
The accompanying notes from 01 to 12 form an integral parts of these financial statements
Mohammad Ata Karim & Co.
ATB Lab Ltd.
Statement of Cash Flows
For the Year ended June 30, 2021
Amount in Taka
1.00 THE REPORTING ENTITY:
1.01
1.02 Nature of the Business
1.03 Components of the financial statements
(i) Statement of Financial Position as at 30 June 2021;
(ii) Statement of Profit or Loss and Other Comprehensive Income for the Year ended 30 June 2021;
(iii) Statement of Changes in Equity for the Year ended 30 June 2021;
(iv) Statement of Cash Flows for the Year ended 30 June 2021;
2.00 BASIS OF PREPARATION, PRESENTATION AND DISCLOSURES OF FINANCIAL STATEMENTS
2.01 Basis of Preparation
2.02 Functional and presentational currency
2.03 Use of estimates and judgements
2.04 Going concern
2.05 Reporting period
2.06 Taxation
This financial statement covers a financial period from 1st July 2020 to 30 June 2021.
The preparation of financial statements requires management to make judgments, estimates and assumptions that affect the
application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may
differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized
in the period in which the estimate is revised and in any future periods affected.
The company has adequate resources to continue its operation for foreseeable future. For this reason the directors continue to
adopt going concern basis in preparing the financial statements. The current credit facilities and resources of the company
provide sufficient fund to meet the present requirements and trading obligations of its existing businesses and operations.
As per Sixth Schedule Part A (Para 33) of Income Tax Ordinance 1984, any income or class of income from Software
Development, Software or Application Customization, IT Support and Software Maintenance Services shall be exempted
from the tax payable under this ordinance.
ATB Lab Ltd.
The activities of the company are to carry on business of Software Development, Analysis, Design, Programming, Testing,
Maintenance of Artificial Intelligence and other related activities, Development, Operation and Maintenance of
telecommunication systems and services, business of online, Internet and mobile phone applications and services, etc.
Notes to the Financial Statements
As at and for the Year ended June 30, 2021
Legal form of Enterprise :
ATB Lab Ltd. came into existence in on May 28, 2019 by incorporating as a private limited company under the Companies
Act, 1994, vide Certificate of Incorporation No. C-152250/2019. The Authorized Share Capital of the Company is TK.
1,000,000 (One Crore) divided into 10,000 (Ten Thousand) Ordinary Shares of TK 100 (One Hundred) each.
The financial statement comprises of :
(v) Accounting policies and explanatory notes to the Financial Statement for the Year ended 30 June 2021.
The financial statements have been prepared on a going concern basis following accrual basis of accounting except for
statement of cash flows in accordance with the International Accounting Standards (IASs) and International Financial
Reporting Standards (IFRSs).
These financial statements has been prepared in Bangladeshi Taka (Taka/Tk), which is the company’s functional as well as
presentational currency. All financial information presented in Taka has been rounded off to the nearest integer. Figures in
brackets indicate deductions.
3.00 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
3.01 Property, plant & equipment's
3.1.1 Recognition & measurements
3.1.2 Subsequent costs
3.1.3 Depreciation
Computer Equipment
Furniture & Fittings
Office Equipment
3.02 Cash and cash equivalents
3.03 Responsibility for presentation and preparation of financial statements
3.04 General
10%
10%
Particulars Rate of
Depreciation
30%
The accounting policies set out below have been applied consistently to all periods presented in these financial statements.
The specific accounting policies selected and applied by the company’s directors for significant transactions and events that
have material effect within the framework of IAS-1 “Presentation of Financial Statements”, in preparation and presentation
of financial statements have been consistently applied throughout the year and were also consistent with those used in earlier
years.
For a proper understanding of the financial statements, these accounting policies are set out below in one place as prescribed
by the IAS-1 “Presentation of Financial Statements”. The recommendations of IAS-1 relating the format of financial
statements were also taken into full consideration for fair presentation.
Figures in this note and annexed financial statements have been rounded off to the nearest integer.
Property, plant & equipments are stated at cost less accumulated depreciation and impairment losses. The cost of acquisition
comprises of purchase price, including import duties and non-refundable taxes and any directly attributable cost of bringing
the assets to its working condition for its intended use.
Depreciation has been charged on reducing balance basis on all assets. Depreciation on addition of all assets charged for
whole year of acquisition of assets. Following Depreciation Rate has been followed:
Cash and Cash Equivalents include cash in hand and cash at bank on current and deposit accounts, which were held and
available for readily use by company without any restriction. There is insignificant risk of changes in value of the same.
The Board of Directors is responsible for the preparation and presentation of Financial Statements under section 183 of the
Companies Act 1994 and as per provision of the International Accounting Standards Committee (IASB).
The cost of replacing part of an item of property, plant and equipment is recognized in the carrying amount of the item if it is
probable that the future economic benefits embodied within the part will flow to the Company and its cost can be measured
reliably. The costs of the day-to-day servicing of property, plant and equipment are recognized in the profit and loss account
as incurred.
Opening
Balance as on
01/07/2020
Addition
during the
period
Adjustment
during the
period
Closing
Balance as on
30/06/2021
Opening
Balance as
on
01/07/2020
Charge
during the
period
Adjustme
nt during
the period
Closing
Balance as
on
30/06/2021
1 Computer Equipments 550,400 - - 550,400 30% 110,080 132,096 242,176 308,224
2 Furniture & Fittings 120,000 - - 120,000 10% 18,000 10,200 28,200 91,800
3 Office Equipments 50,000 - - 50,000 10% 7,500 4,250 11,750 38,250
720,400 - - 720,400 135,580 146,546 - 282,126 438,274 Total 2021
4.00 Statement of Property, Plant & Equipment
SL Particulars
Cost
Rate of
Depreciat
ion
Depreciation
W.D.V. as on
30/06/2021
June 30 June 30
2021 2020
5.00 Advances, Deposits and Prepayments
Advance for Car Purchase 630,908 -
Advance Office Rent 50,000 -
Advance to Employee 50,000 -
Security Deposit (Office Rent) 100,000 -
830,908 -
6.00 Cash and Cash Equivalents:
Cash in Hand 50,000 50,000
Cash at Bank 1,241,262 515,492
1,291,262 565,492
7.00 Share Capital
Authorized Capital
10,000 ordinary shares of BDT 100 each 1,000,000 1,000,000
Issues, Subscribed and Paid-up Capital:
5,000 ordinary shares of BDT 100 each fully paid 500,000 500,000
8.00 Share Money Deposit
Opening Balance 24,678 24,678
Add: Addition during the year - -
24,678 24,678
Less: Allotment of Share - -
Closing Balance 24,678 24,678
9.00 Trade & Other Payables
Other Payable 85,633 -
85,633 -
10.00 Liabilities For Expenses
Audit Fee Payable 185,840 10,000
Office Rent Payable 95,000 20,000
Professional Fees Payable 301,300 -
Salary Payable 386,900 308,817
Utilities Payable - 1,265
TDS payable 59,909 -
VDS payable 15,000 -
1,043,949 340,082
Amount in Taka
June 30 June 30
2021 2020
11.00 Service Revenue 7,125,780 6,555,951
7,125,780 6,555,951
12.01 Cost of Services
Salary & Allowances 3,871,066 4,014,617
Depreciation Expense 132,096 110,080
4,003,162 4,124,697
12.00 Operating and Administrative expenses
Audit Fee 185,840 10,000
Advertisement - 8,786
Bank Charge 3,690 1,784
Conveyance - 10,749
Courier Bill - 16,890
Entertainment Expense 22,633 133,802
Freelancing fee - 45,000
Internet and Cable Bill - 60,000
Medical Expense 3,000 -
Mobile and Telephone Bill - 96,000
Office Rent 115,000 240,000
Office Maintanance - 45,080
Office cleaning Bill - 5,112
Professional & Consultancy Fees 998,641 -
Registration Expenses - 80,231
Salary & Allowances 437,500 -
Security Expenses 17,680 179,010
Stationary - 8,954
Tax & Duty 44,908 33,470
Tours & Travelling - Local 11,750 373,606
Misc. Expense - 17,790
Utility 7,495 37,472
Depreciation Expense 14,450 25,500
1,862,587 1,429,236
Amount in Taka