Sample Directors Report

Only available on StudyMode
  • Download(s) : 613
  • Published : April 6, 2011
Open Document
Text Preview
POFTI NIGERIA LIMITED

AUDITED FINANCIAL STATEMENT FOR THE YEAR ENDED 31-12-2008

PAULITICS &CO
(CHARTERED ACCOUNTANTS)

NAME: OSO PAUL

DEPARTMENT: ACCOUNTING

COURSE CODE: ACC302

LEVEL: 300

MATRIC NO: RUN-08-09/ 1601

COURSE TITLE: ADVANCED FINANCIAL ACCOUNTING 2

DATE: 27TH MARCH, 2011

POFTI NIGERIA LIMITED
Content

Corporate information.........................................................1 Director’s report ...............................................................2-3 Balance sheet ................................................................4 Profit and loss account............................................................5 Notes of the accounts...............................................................6 Value added statement..............................................................7

POFTI NIGERIA LIMITED
CORPORATE INFORMATION FOR THE YEAR ENDED 31ST DECEMBER, 2008 1. BOARD OF DIRECTORS
Mrs Olabisi
Mr Damilare

2. REGISTERED OFFICE
Plot 5&6, Remi Shofoluwe Road, Mile 12 Lagos

3. CORPORATE REFERENCE
Registration number: GE 34859

4. BANKERS
Zenith Bank plc, Lagos
Diamond Bank plc, Lagos
Oceanic Bank plc, Lagos

5. AUDITORS
Paulitics & co
(Chartered accountant)

6. NATURE OF THE BUSINESS
Manufacturing services
7. SHAREHOLDING STRUCTURE
-------------------------------------------------
NAME NO OF SHARES % -------------------------------------------------
Mrs Olabisi 800,000 80 -------------------------------------------------
Mr Damilare 200,000 20 -------------------------------------------------
TOTAL 1,000,000 100

POFTI NIGERIA LIMITED
DIRECTOS REPORT FOR THE YEAR ENDED 31ST DECENBER, 2008
The directors have the pleasure in submitting their report together in the auditing financial statement of the company as at 31st December, 2008 1. Activities: There has been no change in the nature of the company’s business which continues to be manufacturing services 2. Result for the year considered to be satisfactory. The result for the year set out below:

Gross earnings 2,550,000

Profit/loss before tax 88,100
1,669,800

TAXATION
Profit/loss after tax

Return profit/loss b/f

Retained profit/loss C/F

3. Directors and other interest:
There was no change in the board of directors during the period. No director has any beneficial interest, which was significant in the relation to the business of the company

4. POLITICAL AND CHARITABLE CONTRIBUTION :
During the year, the company made no contribution to local, charitable and other bodies. No contributions were made to any political party for any political activity.

5. DISABLED PERSONS:
The company has no disabled employee in its payroll as at 31st December, 2008. However, it continues to maintain a non-discriminatory policy of employment.

6. HEALTH AND SAFTEY:
the company has a medical and adequate care is taken in securing the health and safety and welfare of its employees, and also in protecting other persons against risk to health and safety arisen g from the activities of work of the company’s employees.

7. EMPLOYMENT INVOVEMENT:
The company encourages the involvement of employees and their views are taken into account in making decision that are likely to affect their interest. Adequate facilities are provided by the company for the training of employees.

8. DIVIDEND
No dividend was paid during the year as directors waived their dividends right for future business growth and expansion.

9. AUDITORS
The auditors, Paulitics & co (chartered accountants)...
tracking img