KA.JIMA CORPORATION
. (BANGLADESH REPRESENTATIVE OFFfCE)
Auditor
's
Report And
Financial Statements
For
the year ended
June
30, 2024
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SKZ ISLAM
&
CO
.
CHARTERED
ACCOUNTAN
TS
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Independent Auditor's Report
KAJIMA CORPORATION (BANGLADESH
REPRESENTATIVE OFFICE)
Report
on
the Audit
of
the
Financial Statements
Opinion ·
We
hav
e au dited
th
e financi
al
st
atement
s
of
KAJIMA
CORPORATION
(BANGLADESH
REPRESENTATIVE OFFICE )
wh
ich
co
mpri
se
th
e sta
tem
e
nt
of
financial
po
siti
on
as
at
30
June
.
2024
a
nd
s
tat
ements
of
protit or lo
ss
and
other
comprehen
sive
incom
e,
and
statemen
t of
receipt
s &
pa
y
ment
s for
th
e
period
then
e
nd
ed
.
and
note
s
to
th
e financial
statements,
including a s
ummar
y
of
signifi
ca
nt accoun
ting policies. In
ou
r opinion,
the acco mpan
ying financial s
tatement
s
pr
ese
nt
fairly. in all material
re
s
pect
s
of
th
e
s
tat
eme
nt
of
financial
po
sition
of
KAJIMA
CORPORATION (BANGLADESII
REPRESENTATIVE OFFICE) at
30 June
,
2024
and
of
its financial performance a
nd
its
cas
h flows
for
th
e period
then
ended
in
acco
rd ance
with In
ternationa
l Financial Reporting Sta
nd
a
rd
s (
IFRS
s)
and
o ther
app
lic
ab
le l
aws and
regulations .
Basis
for
Opinion
We
co nducted
our audit in
accordance
with
Intern
ati
ona
l
Standards on
Auditing (ISA
s).
Our
r
es
ponsibiliti
es
und
er
those standards
are
further
de
sc
ri
bed
in
the
Auditors'
Re
s
pon
sibiliti
es
for
the
Audit
of
the Fina
nc
ial
Statement
s s
ection
of
ou
r r
epon.
We
a
re
independ
ent
of
th
e
company
in
accordance
with
the
Intern ati onal
Ethics
Standard
s B
oa
rd
for Accountants·
Code
of
Ethi
cs
fo
r
Pr
o!"ess
ional
Accountan
ts (I
ES
BA
Co
de
)
together
with
th
e
et
hi
ca
l re quirements
th
at
are
rel
evan
t 1 0 o ur
audi
t
of
the finan cial s
tatement
s
in
jurisdiction
s.
and we
h
ave
fulfilled our other
et
hi
cal
re
s
pon
sibiliti
es
in
acco
rd
a
nce
l
he
se
requirement
s a
nd
with
the
IESBA
Code. We
belie ve
th at the
audit ev
id
en
ce
we
hav
e
obta
ined
is sufficie
nt
a
nd
appropriate to
provide a b
as
is for o ur opinion.
Ke
y
Audit Matters
K
ey
Audit matter s
are
th
ose
m
atte
rs
that, in our profe
ss
ional judgme nt,
we
re
of
m
os
t significan
ce
in
our
au
dit
of
the
financial st
ate
me
nt
s
of
the
c
urrent period
.
These
ma
tters
w
ere
ad
dre
ss
ed
in
th
e
co nt ex
t
of
our audit
of
the
financial
statements
as
a whole ,
and in
forming our opinion th er
eo
n.
and we
do· hot
provide a s
eparate op
inion
on
the
se
matter
s.
Other Information
Mana
ge
ment
is
responsib
le
fo
r
th
e o
th er
information.
The ot her information
co
mpris
es
all
of
t
he
information o
th
er
than the
finan cial
sta
tement
s
and
our audit
or
's report
thereon.
O
ur op inion
on
th
e fina ncial
sta
te
ment
s
does
n
ot cove
r
th
e other information
and we
do not
exp~e
ss
an) fo
rm
of
ass
u
ra nce
co
nclusion
ther
eo
n.
In co
nn ec
tion with o ur audit
of
th
e financial s
tat
eme
nt
s.
o ur r esponsib ility is to r
ead
th
e o
th er
informa
ti
on a
nd
. in doing s
o. co
nsi der wh
e
th
er
the
o
th
er information is
mat eria lly incon siste
nt
with the
linancial s
tatements
or our kno wle
dg
e o
btai
n
ed
in
the aud
it or oth erwi
se
app
ea
rs 10 be m
ate ri
a
l!
)
lll l
SS
la lecl.
OFFICE : Sayeda Anwara Monjil, B-1, House # 26/2, Purana Pallan Line, Pallan, Dhaka-1000, Bangladesh .
Phone: 02222224662 , Cell : +88 01730-080666
E-mail : skzislam86@gmail.com, skz4sbc@gmail.com
Web : www.skzislam.com
-
--
-~
---
-
---------
--
--
Re
sponsibilities
of
Management
and
Those Charged with Governance
for
the
Financial Statements
Management is
re
sponsible for the preparation
and
la
ir
presentation
of
the financial statements in
ac
corda nce
with
IFRSs.
th
e Companies Act I 994
and
oth
<.:r
applicable laws
and
regulations and for
such internal control
as
management determines is n
ece
s
sa
ry to enable the preparation
of
financial
statements th
at are
fr
ee
from material
mi
ssta
tement. whether due to fraud
or
error.
In preparing
the
financial statements. man
age
ment is responsible for
assess
ing the compan
y'
s abi
lity
to
continue
as
a going concern, disclosing,
as
applicable, matters related to going concern
and
u si ng the
going concern basis
of
accounting unless management either intends to liquid ate the company
or
to
cea
se
operation
s.
or
ha
s no realistic alternati
ve
but to do
so.
Th os e charged with governance arc responsible for overs
eei
ng the company's financial reporting
proce
ss
.
Auditor's
Re
sponsibilities
for
the Audit of
the
Financial Statements
Our objectives are to obtain
rea
sonable assurance about whe
th
er the financial statements
as
a whole
are free from material mi sstatement, whether due to fra ud
or
error, and to i
ssue an
aud
it
or 's report that
includes our opinion. Reasonable
ass
urance is a high level
of
ass
urance, but is not a guarantee that an
audit conducted in acco rd ance
wit
h ISA s w
ill
always detect a material misstatement when it exist
s.
Mi
ss
tatements can arise from fraud or error a
nd
a
re
con sidert!d material
if
'.
indi vidu ally
or
in
th
e
aggregate, they could
rea
sonably
be
expect
ed
to influ ence the economic decisions
of
users taken on the
ba
sis
of
these financial statement
s.
A s part
of
an
audit in accordance with ISAs, we exerci
se
prof
essional judgment and maintain
professional skepti cism throughout the audit.
We
also:
•
Identif
y a
nd assess
the risks
of
material
mi
ss
tat
en1e
nt
of
the financial statement
s.
whether due
to fraud or error, design and perform
au
dit
procedures
res
ponsive to those risk
s,
and obtain
audit eviden ce that
is
s
uffi
cient a
nd
appropriate to provide a basis for our opinion. The risk
of
not det ec ting a material misstatement resulting from fraud is higher than
for
one resulting from
error.
as
fraud may involve collusion, forgery, intentional omi
ss
ions, misrepresentation
s.
or
the override
of
internal control.
• Obtain an understanding
of
internal control relevant to the audit in order to design aud it
procedures that a
re
appropria
te
in the c
ir
cumst ances.
• Eva lu ate the appropriatene
ss
of
account ing policies us
ed an
d the reasonablene
ss
of
accounting
es
tim ates a
nd
relat
ed
di sc los ure s made by managem ent but not for the purpose
e:-;pres
sing
an
opi ni on
011
the etrectivt·n
css
ol'the comp
an
y" s internal control.
• Concl ud e on the ap propriaten
ess
or
man agcment·s use
of
the go ing concern
ba
sis o f
accounti ng and. b
as
ed on the audit eviden
ce
obtain
t!d
. whether a material uncertainty exists
related to events or conditions that may cast sig
nifi
ca
nt doubt on the compan
y's
abi lit y to
cont inue as a goi ng concern. l
fwe
conclude that a material unce1tainty exi s ts. we are required
to draw attention in our auditor' s repo1t to the related di sc lo
su
r
es
in the
fin
ancial statements or.
if
such disclosures a re inadequat
e,
to
modif
y our opinion. Our conclusions are
ba se
d on
th\.!
audit eviden ce obtained up to the date
of
our auditor's report. However, future events or
conditions may ca u
se
the
comp
an
y to
cease
to continue as a going concern.
• E va luate the overa ll pre
se
ntation, structure and content
of
the company 's tinancinl statement s.
including the di sc losures, a nd whether the
lin
ancia l statements represent the underly ing
transactions and events in a ma nn er that achieves fair pr esentation.
We commu nicate with those charged with governance regarding, among other matter s. t he planned
scope and timin g
of
the audit and s ignifil
.:
an t audit
lin
dings. including an v si~n
ifi
cant clt'lici en ci
es
i n
intL 'rn,
11
contro l tlwt we
idc11ti1
:1
· cluri n
):!
our audi1.
~
·
~
We
also provide those charged
with
governance
with
a statement 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
bear
on
our independence ,
and
where applicable, related safeguards.
From
the matters communicated
with
those charged
with
governance,
we
detennine
those
matters that were of
most
significance
in
the
audit
of
the financial statements of
the
current period and are therefore
the
key
audit matters.
We
describe these matters
in
our auditors'
report
unless
law or regulation precludes p4blic disclosure about the matter or when,
in
extremely
rare
circumstances,
we
determine that a matter should not
be
communicated
in
our report
because
the
adverse consequences of doing
so
would
reasonably
be
expected
to
outweigh
the public
interest benefits of such communication.
Report
on
other Legal
and
Regulatory Requirements
In
accordance
with the
companies
Act 1994
,
we
also
report the following; a) We
have obtained
all the infonnation
and
explanations which to the best of our knowledge
and
belief
w~re
necessary for the purposes of our audit
and made
due verification thereof; b)
In
our opinion, proper books
of accounts
as
required
by
law have been kept
by
the
company
so far
as
it
appeared
from
our examination of these books;
c) The statements of financ i
al
position ; statement of profit
or loss and other Comprehensive
Income and Statement of
Cash Flows dealt
with
by
the report are
in
agreement
with the books
of accounts
and
returns;
Dated:
Dhaka.
~
Sheikh Zahidul Islam, FCA, MBA
Enrolment
No: 1394
Proprietor
SKZ Islam & Co.
Chartered Accountants DVC: 2502101394AS685671
-·
.•
KAJIMA
CORPORATION
(Bangladesh Representative Office)
Statement of Operational Expenses For
the y ear ended 30
June 2024 Amount
in
Taka
Operational
Expenses
I June 30.
2024
II
June30
2023 Bank Charge
Car
Rent Fuel
Expenses Allowance Hotel
Rent
Guest
House
Rent
Internet Expense
Office Equipment
Office Expense
Office Rent
Postage
and
Courier
Professional Fee Salary & Allowances
Cleaning Charge
Tax and Duty
Welfare Expense
Mobile Communication Expenses
Computer Equipment
Software
Security
Fee
Travelling and Conveyances
Utilities
Printing & Stationary
License, Renewal
and
Govt . Fee
Depreciation
Licenses Renewal, Membership , Project Document Fee
Wages
Audit Fee
Total Operational Expenses
22,572
2,095,254
562,401
204,375
3,169,892
10,017 ,894
312,000
233
, 724
418, 299
3,749,100
5,250
2,369,
145
23
,499,089
127,478
519,
570
268,279
160
,
764
753
,
585
273,824
216,736
3,102,911
342,213
339,295
1,148,850 435
,
901
249,5
10
126, 818
57,500 54 ,782,229
The annexed notes
OI to l O
form an
integral part of these financial Statement Signed
in
terms
of our report of ev
en
date.
74,905
1,499,076 368
,
120
130,950
-
6,640,
335
312
, 000
186
,
534
398,444
3,595 ,630
55,260
2,
103
,
215 35
,
242,311
676 ,
865
31,261 152
,630 75,163
3, 287 ,
715
- 37,201
343,930
1,074,674
594,313
214,426
57,500
57,152 ,456
KAJIMA CORPORATION
~
Sheikh Zahidul Islam, FCA,
MBA
'
Dhaka
Dated:
Enrolment No:1394
Proprietor
SKZ ISLAM & CO.
Chartered Accountants
D VC : 2502101394AS685671
..
KAJlMA
CORPORATJON
(Bangladesh
Reprrstntatin
OfTJCe)
Statement
o(
Receipts and Paymtnls
For the year ended
30
June 2024
IB Amount in
Tm
Particular, Notes
1--------,..-----------1
'-----------------
June 30, 2024 June 30, 2023
RECErPTS:
Opening balance
Cash in
Hand
Cash at Bank
Remmittance Received
foreign Exchange
Gain
(Unrealised) TOTAL RECEIPTS
PAYMENTS
:
7.
01
Cash Operating Expenses 8.01
Payment for Headquarter
Foreign Exchange
Loss
Previous Year's Liability for Expenses
Previous Year's
Pa ya
ble
for
office decoration TOTAL PAYMENTS
Closing Balance
Cash in Hand
Cash at Bank
4,329,808
83,
821
4,245,987
46
. 180.640
11
93,439
501603;!!7
45,631.743
214,250
1,224,
101
274,346
47.344,440
3.259,447
100,377
3,159,070
5076031887
The annexed notes O I
to 10 form an
integral part
of
these financial Statement
Signed in terms
of
our report of even date.
Deputy General Manager
KAJIMA CORPORATION
Dhaka
Dated:
9,790,556
76 ,468 1
9,7
14
,088
59,617,342 1
69~7!!98
55.334,042
5,961,356
1,679,988
2, 102,704
65.073,090
4.329,808 83
,821
4,245 ,9 87
69z407,898
KAJIMA
CORPORATION
(Bangladesh Representative Office) Notes
to
the Financial Statements As at and for
the year ended 30 June 2024 1.00 CORPORATE INFORMATION
1.01
Legal
status
Kajima
Corporation (Bangladesh Representative Office) having
perrmss1on from
Bangladesh
Inveshnent Development
Authority
(BIDA), vide permission
Ref
No
:
OPN-30Nov2021-00001 dated
30 .
12
.
2021
and
18B
permission
from
Bangladesh Bank
under
Foreign Exchange Regulation
Act, 2015
vide Endt.No
.FEID/729/5R-l
899
/ 2024-4277 dated .
02
.
12
.
2024
. 1.02
Nature or activities
The
activities of
your
Representative Office shall
remain
confined to
seeking
possibilities
for
Contracting
and
undertaking of
civil engineering, architecture,
machinery and equipment and other
construction
work
in general
.
2.00 COMPONENTS
OF
FINANCIAL STATEMENTS
The financial statement comprises
the following
:
(i) Statement of Financial Position as at
30
June, 2024
;
(ii) Statement
of
Operational Expenses
for
the year ended
on 30
June,
2024
;
(iii) Statement of Receipts &
Payments for
the
year ended
on
30 June ,
2024
;
(iv) Notes
to the Financial Statements
of
significant accounting policies
and
other explanatory
information as at
and
for the year ended
on 30
June,
2024
.
2.01 Statement
of
compliance The financial statements have been prepared in accordance
with
the
followongs
:
i. The Income Tax Act 2023;
ii
. Value
Added Tax and
SD
Act 2012;
iii) Customs Act 2023; and
iv) Guidelines
from
Bangladesh Investment Development Authority (BIDA)
.
3.00 SIGNIFICANT ACCOUNTING POLICIES
The accounting policies applied
in
the preparation of these financial statements are set out below .
3.01 Basis
of
accounting:
The financial statements have been prepared under the accrual basis of accounting.
3.02 Compliance with accounting standards:
The financial statements have been prepared in
compliance with the requirements of International
Financial Reporting Standard (IFRS) .
3.03 Reporting currency and others: The figures in the financial statements has been represented in Bangladeshi Taka, except otherwise
specified which have been rounded of the nearest Taka .
..
3.04
Cash
&
Cash
equivalent: Cash
and
cash
equivalent s comprises
of
cash
in
hand and
cash
at
bank
wh
i ch are held
and
available
for
use
by
the
company without
any
restriction.
3.06
Reportinll Period
This financial
statement of the company
covers a year
from
1st July
2023 to 30th
June
2024
.
3.07 Comparative
figures
The
comparative
figures has been
restructured
for some
heads
and
impacted a number
of
the primary financial statements
and
notes for
the periods presented in
these
financial
statements.
3.08
Events
After the Reporting
Period
All
material events after the reporting period that provide additional information about the entity
position
at
the closing date are reflected
in
the
Financial
Statements
as
per
IAS-10
"Events after the
reporting
period"
.
3.09 Provisions
Provision is
recognized
if,
as
a result of a past event , the entity
has
a present
legal on
constructive
obligation that
can
be estimated reliable
and
it is provable that
an
outflow
of
economic benefit would
be required
to
settle the obligation in accordance
with IAS-37
"Provision, contingent liabilities and
contingent assets".
3.10 Subsequent cost
The cost of replacing component
of
an
item
of
Property , plant & equipment
is
recognized in the
canying amount
of the item
if
it is
probable that
the
future economic benefits
will
flow to the entity.
3.
11
Foreign Currency Presentation
These financial statements are presented in Bangladesh Taka
(BDn,
which is
the Company's
functional currency. USO
balances has been
shown
in
BOT as per the Bangladesh Bank average
exchange rate as at 30 June
2024
.
!
' .
B l B AmountinTaka SL
No.
L.------
P _ a_ rt_
ic
_ u_ ia _ r_ ,
_____
Notes
1--------,,,..-------i
_ June 30, 2024 June 30, 2023
4.00
Property, Plant
&
Equipment
Opening Balance
Add
: Addition during this year
Less
: Transfer/ Disposal during this year
Closing Balance
Accumulated Depreciation
Opening Balance
Charged during the year
Adjustment during the year Closing Balance
Written
Down
Value
as
at
30
June
2024
5.
00 Advances, Deposits
and Pre-payments
Security Deposit
for
Office Rent
6.00
Cash
&
Cash
Equivalents
Cash in
Hand
Cash at Bank (A/C
No:
01-630047601)-BDT
Cash at Bank (A/C
No
: 01-630047602)-USD
7.00 Current Account with
Head
Office
Opening Balance
7.01
Add
: Remittance Received during the year
Add : Payment
from
Head Office
Add : Foreign Exchange
Gain
Less: Operational Expenses
Less: Foreign Exchange Loss
Less: Advanced payment for Head Office Closing Balance
Remittance Received
in
USD
Account
July
August
September
October
November
December
January
February
March April
May
June
7.01
8.00
LJG
4,
15
6,
874
.
4.156.874 4,156,874
594
,
3131=-::7
___
4_3
_ s._ 90 _1 _ ~
1,030,214 594,313
1,524
,320 '
-'
_ _
1_
,
5_24
_,3 _ 20 _1
1 1
52920
1 1
52920
100,377
83
,
821
2,304 , 570 3, 697 ,
124
854
,499
548
, 863
31259!447 4~291808
7,918,242 11,414 , 712
46,180,640 38,865,500
20,751,842
93,439
54,782,229 57,152,456
214,250
5,
961
,356
(80958}
71918,242
2,834,000 4,625,000
3,832,500 6,574,500
8,140,000 .
2,762,500 1,980,000
3,960,000 4,000,000
4,730,000 3,535,000
2,640,000 2,346,000
4,400,000 2,575,000
2,750,000 1, 976 ,000
3,300,000 4,620,000
3,764, 160 .
3, 067 ,480 6,634,000
46,180,640 38,865,500
8.00 O
perat
ion al Expe
n
ses
Cash
Operating
Expenses
8.01 45,631,743 55,334,
042
Liability
for
Expense
9.00 8,
714
,
585 1.224
,
101
Non-Cash
Operating
expe
n
ses
8.
02
435
,
901
594
,3
13
54,782,229
57,1
52
,
456
8
.01
Cas
h O
perati
o
nal
Expenses Bank
Charge
22
,
572
74
,
905 Car Rent 1,933
,6
79
1,310,944
Fuel&
To
ll
542
,437 332,415
Al
l
owance 188
,9
85
113
,605
Hotel
Re
nt 3,169,
892 Guest House Rent
9,418,684 6,057,467
Internet Expense
312,000 312 ,00 0 Office Equipment
233
, 724
186
,
534
Office Expense
418,299 398,444
Office
R
ent
3,
487
,
536
3,595 ,630
Postage
and
Courier 5, 250
55
,260
P
rofessional
Fee
1,998
,
145
1,930,715 Salary
&
Al
l
owances
16,639 ,876 27,922,546
Employees' Bonus
7, 261,631
Cleaning
Charge
105
,635 565
,069
Tax
and Duties 519
,570
31
,
261
Travelling
and
Conveyances
2,810,
051
Welfare Expense
268,279
152
,6 30
!
Communication
Expe
n
ses
Computer Equipment
160
, 649 75,042
753
,
585
3,
28
7,715 Software 273
,824
Tours &
Trave
l (Local) 3,400 37 ,
201
Printing &
Stationary
339,295 343,930
Legal Expenses 1,074 ,6
74
Security Service Expenses 188,573
License ,
Renewal
,
and Govt
.
Fee
1,398 ,360 214,426
Wages
126,818
Utility Expense
31
2,
625 4516311743
55;!341 0
42
8.02 Non- Cas h O
perating expe n
ses
Depreciation 435,901
11
594,3131
43
5,901
594~13
I 0
SL Balance as
No Particulars on
01.07.2023
0 1 Office Interior 2,606,292
02 Office Air Conditioning Relocation 45 1,797
03 PABX System Grand Strem 164,905
04 NAS Hard Disk Synology DS920+ 195.000
05 UPS Online Emerson 145,222
06 Copy Machine (Xerox) C7025 593,658
Total 30 June 2024 4,156,874
. . ....
KAJIMA CORPORATION
(Bangladesh Representative Office)
Schedule of Property, Plant & Equipments
As at 30 J une 2024
Cost
Adjustment
Addition Balance as
/Disposal Balance as Rate
during the on
During the on 30.06.2024
year 01.07.2023
year
- 2,606,292 10% 112,658
- - 45 1,797 10% 18,639
- - 164.905 10% 60,098
- - 195.000 25% 84, 132
- - 145,222 25% 62,654
- - 593,658 25% 256. 132
- - 4,156,874 594.313
Annexure 01
Depreciation
Depreciation Adjustment Balance as W.D .V as
charged made during on
during the on 30.06.2024
the year 30.06.2024
year
249,363 - 362,021 2,244,271
43,3 16 - 61,955 389.842
10,48 1 - 70.579 94.326
27,717 - 111.849 83. 151
20,642 - 83.296 6 1,926
84,382 - 340.514 253.144
435,901 - 1,030.214 3, 126,660
9.00
Liability
for
Expense
Car
Rent
Clean
i
ng
Charge
Utility Professional
Fee
Salary
&
Allowances Hotel Rent
Audit Fee Payable
House
Rent
Allowance
Communication
Security
Fee
Toll
fee
&
Fuel
Expense
10.00
Liability
for
Assets Addition
Payable
for
office decoration
161,575
188
,
132
21
,
843
111
,
796
29
,
588
621
,
000 172,500
6,859
,
213
58
,
134
599
,
210
-
57
,
500
57
,
500
261
,
564 582
,
868
15
,
390
17,345
115
121
28
,
163
-
59
,
424
35
,
705
8,
714,585
1,224
,1
01
.__
___
- __.II
....
__
2 _
14
-'- ,3 _
46
_.I
274.346