Poseidon Statement of Financial Position as at 31st December 2016

Notes 2016 2015USD USD

ASSETS

Non-current assetsProperty, plant & equipment 9 130,000 120,000Goodwill 10 30,000 30,000Intangible assets 11 60,000 50,000

220,000 200,000

Current assetsInventories 12 12,000 10,000Trade receivables 13 25,000 30,000Cash and cash equivalents 14 8,000 10,000

45,000 50,000TOTAL ASSETS 265,000 250,000

EQUITY AND LIABILITIES

EquityShare capital 4 100,000 100,000Retained earnings 50,000 40,000Revaluation reserve 5 15,000 10,000Total equity 165,000 150,000

Non-current liabilitiesLong term borrowings 6 35,000 50,000

Current liabilitiesTrade and other payables 7 35,000 25,000Short-term borrowings 8 10,000 8,000Current portion of long-term borrowings 6 15,000 15,000Current tax payable 9 5,000 2,000

Total current liabilities 65,000 50,000Total liabilities 100,000 100,000TATAL EQUITY AND LIABILITIES 265,000 250,000

Poseidon Income Statement | Profit & Loss Account

Income Statement for the Year Ended 31st December 2016

Notes 2016 2015USD USD

Revenue 16 120,000 100,000Cost of Sales 17 (65,000) (55,000)

Gross Profit 55,000 45,000

Other Income 18 17,000 12,000Distribution Cost 19 (10,000) (8,000)Administrative Expenses 20 (18,000) (16,000)Other Expenses 21 (3,000) (2,000)Finance Charges 22 (1,000) (1,000)

(15,000) (15,000)Profit before tax 40,000 30,000

Income tax 23 (12,000) (9,000)

Net Profit 28,000 21,000

Poseidon Statement of Cash Flows for the year ended 31 December 2016

Notes 2016 2015USD USD

Cash flows from operating activities

Profit before tax 40,000 35,000

Adjustments for:  Depreciation 4 10,000 8,000  Amortization 4 8,000 7,500  Impairment losses 5 12,000 3,000  Bad debts written off 14 500 -  Interest expense 16 800 1,000  Gain on revaluation of investments (21,000) -  Interest income 15 (11,000) (9,500)  Dividend income (3,000) (2,500)  Gain on disposal of fixed assets (1,200) (1,850)

35,100 40,650

Working Capital Changes:

  Movement in current assets:    (Increase) / Decrease in inventory (1,000) 550    Decrease in trade receivables 3,000 1,400

  Movement in current liabilities:    Increase / (Decrease) in trade payables 2,500 (1,300)

Cash generated from operations 39,600 41,300

  Dividend paid (8,000) (6,000)  Income tax paid (12,000) (10,000)

Net cash from operating activities (A) 19,600 25,300

Cash flows from investing activitiesCapital expenditure 4 (100,000) (85,000)Purchase of investments 11 (25,000) -Dividend received 5,000 3,000Interest received 3,500 1,000Proceeds from disposal of fixed assets 18,000 5,500Proceeds from disposal of investments 2,500 2,200

Net cash used in investing activities (B) (96,000) (73,300)

Cash flows from financing activitiesIssuance of share capital 6 1000,000 -Bank loan received - 100,000Repayment of bank loan (100,000) -Interest expense (3,600) (7,400)

Net cash from financing activities (C) 896,400 92,600

Net increase in cash & cash equivalents (A+B+C) 820,000 44,600Cash and cash equivalents at start of the year 77,600 33,000Cash and cash equivalents at end of the year 24 897,600 77,600