KALITI METAL PRODUCTS FACTORY

SCHEDULE OF ACCOUNTS
FOR THE YEAR ENDED JUNE 30 2005
Item DESCRIPTION ACCT. No. SUBSIDARY LEDGER
No. DEBIT CREDIT
1 Cash On Hand
Enanu Asfaw 1101-0002 694619.37
Almaz Brehanu 1101-0005 1623.67
Brehanu Gebre 1101-0006 26495.04
722738.08
2 Cash At Bank
CBE.Akaki Branch C/A - 7 1104-0001 47442.90
CBE.Kaliti Branch C/A - 29 1104-0002 11281400.06
CBE. Awassa Branch C/A -1266 1104-0003 15641.55
CBE.Teklehaymanot Br.C/A -3409 1104-0004 1000.00
Wegagen Bank Tekelehymanot Br. C/A 285 1104-0005 1000.00
65084.45 11281400.06
3 Trade Debtors
Ethiopian Pharmatical & Medical Supplies 1401-0035 50.06
Ethiopian Iron and Steel Foundry 1401-0112 2803.86
Nile Coffee Export 1401-0117 569646.98
Nile International 1401-0118 471985.68
Akaki Sparepart Factory 1401-0119 1010129.06
Ethiopian Air Force 1401-0120 233902.99
2288518.63
4 Provision of Trade Debtors
Ethiopian Pharmaticals & Medical Supplies 1401-01-0035 50.06
Nile Coffee Export 1401-01-0117 569646.98
Nile International 1401-01-0118 471985.68
1041682.72
5 Other Debtors
EDDC 1403-0001 315038.65
Akaki Pump Factory 1403-0006 174150.48
Maritime and Transit 1403-0007 110367.43
599556.56
6 Provision For Other Debtors
EDDC 1403-01-0001 315038.65
Akaki Pump Factory 1403-01-0006 174150.48
Maritime and Transit 1403-01-0007 110367.43
599556.56
7 Prepayment
Leave Pay 1404-0001 7351.96
Deposit for Cylinder 1404-0002 6500.00
Deposit for Cylinder Addis Gas&Plastic Factory 1404-0003 3900.00
Telecomunication Authoirity 1404-0004 47035.63
MTSE Imported Division 1404-0005 405557.03
Bid Bond 1404-0007 301062.09
EELPA 1404-0009 14000.00
Insurance Claim 1404-0012 21737.40
Sales Shop Rent -T/haimanot 1404-0018 132100.00
Inland Revenue Authority for VAT.-Local 1404-0021 13191.80
TBA Engineering 1404-0025 15052.80
Halleta Advertising Media & Enterprise PLC 1404-0026 7590.00
13
 KALITI METAL PRODUCTS FACTORY
SCHEDULE OF ACCOUNTS
FOR THE YEAR ENDED JUNE 30 2005
Item DESCRIPTION ACCT. No. SUBSIDARY LEDGER
No. DEBIT CREDIT
Container Rent 1404-0027 10000.00
985078.71
8 Contra-Account
MTSE- Contra Account 1404-04-0001 169042.15
169042.15

9 Staff Debtors
Hailu Mengestu 1405-0001 202.00
Lemma Mekonnen 1405-0006 1019.00
Merawi Gebru 1405-0019 739.46
Menebere Yirga 1405-0020 561.00
Mengestu Tefera 1405-0022 1304.00
Mulu Assegdom 1405-0026 1273.00
Masseresh Lemma 1405-0032 768.52
Mitiku Merga 1405-0034 1227.00
Rukia Hussen 1405-0041 597.00
Solomon Assefa 1405-0044 85.00
Seyefu Sebhat 1405-0050 590.00
Sirage Adem 1405-0055 182.00
Sirage Jemal 1405-0056 242.00
Senedu Sebelu 1405-0059 684.00
Sherefa Abdo 1405-0062 1639.00
Belachew G/Yes 1405-0067 776.00
Belay Bekele 1405-0068 1146.00
Belay Deme 1405-0069 278.00
Belihu Zeleke 1405-0072 187.00
Bekele Gebisa 1405-0076 84.00
Beyene Reta 1405-0082 567.23
Bahiru Muzeyen 1405-0084 91.00
Betelhem Mamo 1405-0087 1043.00
Berhanu Shene 1405-0090 935.00
Birhanue Menegeste 1405-0096 1146.00
Bezuneh Belachew 1405-0097 405.30
Teshome Ketema 1405-0101 590.00
Tenagne Alemayhu 1405-0112 1694.00
Teku Chenke 1405-0114 892.00
Tadelech T/Michael 1405-0125 1160.00
Tadesse H/Mariam 1405-0130 684.00
Tadessa Abera 1405-0131 74.00
Tegist Desalgen 1405-0136 1359.00
Negasse Getaneh 1405-0144 85.00
Negest Assemelash 1405-0149 600.00
Amerga Zerga 1405-0154 199.00
Amina Sherefa 1405-0155 978.00
Amde Anbese 1405-0158 728.00
Assefa Yigletu 1405-0163 587.00
Asefa Tilahun 1405-0165 781.00

14
 KALITI METAL PRODUCTS FACTORY
SCHEDULE OF ACCOUNTS
FOR THE YEAR ENDED JUNE 30 2005
Item DESCRIPTION ACCT. No. SUBSIDARY LEDGER
No. DEBIT CREDIT
Aschalew Worku 1405-0170 1016.00
Abayneh Agaza 1405-0176 253.00
Abe Alemu 1405-0177 199.00
Ayneye Sheferaw 1405-0189 604.85
Ethiopia Belete 1405-0198 597.00
Elfenesh N/Work 1405-0200 400.00
Etatu Nuguse 1405-0203 871.00
Enanu Asefaw 1405-0205 1043.00
Enatenesh Mekuria 1405-0206 1133.70
Endale Gurmu 1405-0208 1078.00
Kedir Halid 1405-0214 364.00
Wonyenshet Gebre 1405-0232 397.00
Wassie Tesfa 1405-0234 12291.00
Zeleke Muluneh 1405-0236 144.00
Zedamu Hige Egziabher 1405-0241 371.00
Yeshi Haile 1405-0242 74.00
Yassin Abduleselam 1405-0243 1948.00
Yared Eferem 1405-0244 183.00
Yai Degifie 1405-0245 765.00
Yedenekachew Adera 1405-0247 315.00
Desta Kelil 1405-0254 452.00
Derissa Diksisa 1405-0259 510.00
Degefa Hundie 1405-0264 587.00
G/Michael Feyessa 1405-0273 975.00
Gennen Bayessa 1405-0278 638.00
Gezahgn Syoum 1405-0280 200.00
Gezahgn Eshete 1405-0282 257.00
Getu Tefera 1405-0288 546.00
Gossaye Seyoum 1405-0294 672.00
Tilahun Lema 1405-0298 199.00
Tebebe Solomon 1405-0300 63881.76
Fekadu Nida 1405-0311 684.00
Fekadu Girma 1405-0312 6740.00
Hiwot G/Michael 1405-0317 257.00
Germamie Tufa 1405-0323 704.30
Addis Gorfu 1405-0326 179.00
Mohamed Said Tasew 1405-0327 339.00
Tebebu Dechasa 1405-0329 361.64
Solomon Mulugeta 1405-0342 739.00
Abebe Seferaw 1405-0343 94.00
Mindayie Getachew 1405-0344 186.00
Mehamed Yimam 1405-0345 278.00
Hailu Sume 1405-0347 956.45
Mimi G/Yes 1405-0351 242.00
Hailu Belda 1405-0357 45.00
Meron Getenet 1405-0361 728.00
Hana Legesse 1405-0364 28.00

15
 KALITI METAL PRODUCTS FACTORY
SCHEDULE OF ACCOUNTS
FOR THE YEAR ENDED JUNE 30 2005
Item DESCRIPTION ACCT. No. SUBSIDARY LEDGER
No. DEBIT CREDIT
Endeshaw Zenebe 1405-0365 2146.00
Fassil Andargie 1405-0369 1232.00
Tamene Kedida 1405-0371 667.00
Tegabnesh Haile 1405-0373 113.00
Mulat Sulutan 1405-0383 954.00
Abebe Bogale 1405-0385 45.00
Adane Alemseged 1405-0390 79.00
Seleshe Tekale 1405-0392 147.00
Desalegn Zewde 1405-0394 385.00
Getahun Haye 1405-0395 215.00
Melaku Luelseged 1405-0396 351.00
Brehanu G/Abe 1405-0401 144.00
Kalid Yasin 1405-0409 731.00
Brehanu Getahun 1405-0410 835.00
Fasica Hailu 1405-0411 155.00
Bahiru Nurega 1405-0412 155.00
Desalegn Haile 1405-0413 155.00
Zeinu Sefa 1405-0414 155.00
Samueal Demake 1405-0415 155.00
Abebe H/Gebreal 1405-0416 155.00
Ashagre Betele 1405-0417 155.00
Begna Tadesse 1405-0418 92.00
Dereje G/Sellassie 1405-0423 1273.00
144203.21
10 Sundry Debtors
Akaki Spare Parts Factory 1406-0003 1248.20
1248.20

11 Purchase and Trip Advance

Mossa Abdo 1409-0002 7561.95
Zeleke Muluneh 1409-0003 1243.00
Almaze Brehanu 1409-0013 1000.00
Abebe Beru 1409-0008 77378.72
Tebebu Dechasa 1409-0072 232.25
87415.92
12 Purchase Advance Petty Cash
Abebe Beru 1409-01-0008 1522.97
1522.97
13 Stock
Finished Products -Black 1501-01-1001 6780618.72
- Galvanized 1501-02-1001 2988871.90
- Aluminum 1501-03-1001 14995.00
-Stainless Steel 1501-04-1001 11669.00
- Precoated 1501-05-1001 142.00
- G-Mill &Other Products 1501-06-1001 39745.96
- Mobile Kitchen 1501-07-1001 28842.00
-Metal & Aspalt Washer 1501-08-1001 8139.03

16
 KALITI METAL PRODUCTS FACTORY
SCHEDULE OF ACCOUNTS
FOR THE YEAR ENDED JUNE 30 2005
Item DESCRIPTION ACCT. No. SUBSIDARY LEDGER
No. DEBIT CREDIT
- Various Under Product. 1501-09-1001 340988.29
- Pipes Beams Bars Angels 1501-10-1001 100007.06
- At Awasa -Black 1501-20-1001 85451.95
- " - Galvanized 1501-21-1001 31548.20
- At Teklehymanot - Black 1501-40-1001 320073.24
- " - Galvanized 1501-41-1001 84326.00
10835418.35

14 Work In Process 1502-01-1001 361863.71

15 Raw Materials
At RM-Store - Black Steel Coils 1513-01-1001 5174026.65
Galvanized Steel Coils 1513-02-1001 19059454.80
Under Production Floor - Black Steel 1513-09-1001 299177.70
24532659.15
16 Indirect Materials
Electrode 1514-01-1001 64718.12
64718.12
17 Spare Parts
Various Type Machnery Spare Parts 1515-01-1001 4119919.14
Grain Mill Products and Machinary SP. 1515-02-1001 1362695.04
Mobile Kitchen Products Spare Parts 1515-03-1001 268089.57
5750703.75
18 Stock Obsolescence 1515-00-1001 2218969.43
19 Stock Indirect Materials - Imported
Fitting, Screw, Bolts,Nuts & Others 1516-01-1001 1754732.92
Beam U Channel Bars & Angle Iron 1516-02-1001 606853.80
Black Flat Sheet 1516-03-1001 1784.36
2363371.08
20 Stock Obsolecence-for Indirect Materials 1516-00-1001 148956.11
21 Other Materials Stock
Stationary and Printing 1517-01-1001 58726.77
Cleaning And Sanitation 1517-02-1001 22427.65
Fuel And Lubricant 1517-03-1001 62379.09
Medicen 1517-04-1001 14117.56
Others 1517-05-1001 25229.50
182880.57
22 Goods In Transit
L/C 09/50/1861/97 1601-01-1002 2505618.75
L/C KAL /23/101/04 1601-01-1067 7111689.90
L/C KAL /23/031/05 1601-01-1071 1046467.72
L/C KAL/23/039/05 1601-01-1073 261882.66
L/C KAL/23/013/05 1601-01-1074 250.93
L/C KAL/23/046/05 1601-01-1075 10885331.50
21811241.46
23 Provision For Doubtful GIT 1601-00-1001 2505618.75
24 Fixed Assets
Buildings 1700-01-1001 3457831.88

17
 KALITI METAL PRODUCTS FACTORY
SCHEDULE OF ACCOUNTS
FOR THE YEAR ENDED JUNE 30 2005
Item DESCRIPTION ACCT. No. SUBSIDARY LEDGER
No. DEBIT CREDIT
Machineries 1700-01-1002 19702142.38
Office Equipments 1700-01-1003 582624.26
Specialized Equipments 1700-01-1004 487665.52
Motor Vehicles 1700-01-1005 6563465.94
Hand Tools 1700-01-1006 911980.62
Railway Line 1700-01-1007 24581.20
Computer & Software 1700-01-1008 555567.17
32285858.97

25 Accumulated Depreciation
Building 1701-01-1001 2603169.06
Machineries 1701-01-1002 15188612.77
Office Equipments 1701-01-1003 445304.13
Specalized Equipments 1701-01-1004 418725.47
Motor Vehicles 1701-01-1005 5393844.02
Hand Tools 1701-01-1006 911980.62
Rail Way Line 1701-01-1007 24571.20
Computer & Software 1701-01-1008 340951.04
25327158.31
26 Construction In Progress
Car Parking &Garage 1801-01-1003 29397.26
Clinic Extention 1801-01-1004 7651.58
37048.84
27 Fixed Assets In Transit
Mobile Crane 1802-01-1015 433796.37
433796.37
28 Trade Creditors
Haile Etay 2101-0002 5000.00
Zuber Mohammed 2101-0004 5900.00
Ahmed Mohammed 2101-0019 5000.00
TBA Enginnering 2101-0046 4945.92
Mukeber 2101-0058 636.00
2101-0062 500.00
2101-0063 420.00
2101-0064 500.00
22901.92
29 Sundry Creditors
Stock Suspense 2102-0001 33.89
Court Order Payable 2102-0002 1235.00
Casher Allowance -Enanu Asfaw 2102-0003 480.65
-Ethiopia Belete 2102-0004 480.00
- Berhane Mengiste 2102-0005 445.00
-Sendu Seblu 2102-0006 335.00
Labour Union 2102-0007 118908.06
A.A. Rail Way Custom 2102-0008 3548044.80
Kotebe Metal Tools Factory 2102-0012 235.36

18
 KALITI METAL PRODUCTS FACTORY
SCHEDULE OF ACCOUNTS
FOR THE YEAR ENDED JUNE 30 2005
Item DESCRIPTION ACCT. No. SUBSIDARY LEDGER
No. DEBIT CREDIT
Unclaimed Salary 2102-0014 1657.98
Abay Technical Services 2102-0016 1115.50
Kombolcha Textile 2102-0017 53.00
Genet Wedajo 2102-0018 1049.70
Casher Allowance -Almaz Berhanu 2102-0020 443.56
Asin Micro Finance 2102-0031 202.00
Casher Allowance -Brehanu Gebre 2102-0032 585.00
Insurance 2102-0035 78.45
Solomon Kassa 2102-0036 2353.58
International Stationary 2102-0037 2024.00
Kaliti Feed Processing 2102-0038 404.25
3680164.78
30 Customers Advance
Abay Technical Service Enterprise 6 1723.97
Addis Ababa Cement Factory 10 55039.57
Akaki Metal Products Factory 16 91.80
Awash Construction 29 2358.74
Awash Tannery 30 5039.31
Ayta PLC. 32 33512.17
Addis Metal Processing 46 4092.67
Addis ababa Police Commission 48 22100.62
Akaki Spare Parts 49 137808.00
Anbessa City Bus 58 10.22
A.A City Gover.Env. Protection Authority 62 4090.89
AAC.Gov.R. Authority 70 1848.89
Abdulesemed Ahmed 109 66400.00
Abebe Zeleke 140 45414.45
Addis Ababa Abattoris 180 5339.54
Adil Mohammed Bulding Construction 197 28000.00
Addis Ababa University Science Faculty 228 3007.90
Alemayehu K/Mariame 229 7000.00
Adiss Ketema K/Ketema 230 62910.75
Ahemed Basha 231 3815.01
Berta Construction 7 3871.26
Bini Leather Shoe Sole Factory 11 3564.96
Dim Kidanemihiret Cherch 2104-04-0001 2831.71
Dinku Sileshe 8 3551.52
Debebe Ero 11 1168.40
Delema 14 2500.00
DH Geda Blanket 40 5000.00
EELPA 3 5250.06
Ethiopian Iron Steel Industry 4 8042.12
Engineering Design Tools 6 2004.46
Ethio Rental House 10 2774.88
Ethiopian Airlines 12 55885.42
Ethiopian Crowen Corck & Can Manufacturing 14 1528.46
ETHIOF 21 8608.88

19
 KALITI METAL PRODUCTS FACTORY
SCHEDULE OF ACCOUNTS
FOR THE YEAR ENDED JUNE 30 2005
Item DESCRIPTION ACCT. No. SUBSIDARY LEDGER
No. DEBIT CREDIT
Ermias Mergia 25 1997.21
Emenet Endeshaw 74 28000.00
Equatorial Business Group 77 1276.78
Eyerusalem Memorial Association 104 673.79
Ethiopian Metal Products 105 3660.95
Finfine Construction PLC. 2104-06-0001 2948.50
Fafa Food Factory 2 3494.92
Gad Construction 5 32472.67
Guna Sets General Trading 15 5000.00
G/Mariam Gizaw G.C 33 23000.00
Gonder Ketema Ageslot 81 22257.69
Haregewoin Desta 6 1500.00
Harar Brewery Sh. Company 16 8360.73
Imter PLC 11 104258.00
ICS 15 26802.96
Kaliti Food Industry Sh. Co. 2 1317.78
kassa G/Tsadik PLC. B.C. 3 1626.24
Konolke Construction 6 1030.40
K.C.M.P.E 8 68464.37
Kebede Diriba 9 6731.61
KOSPI 2104-11-16 105248.23
Kangaro Plastic PLC 23 1000.00
K. Subcity Housing Project /Kirkos K/Ketema/ 62 72884.69
Lalibela Enginerring Constrction 2104-12-0001 57296.90
Lideta Sub-City Housing Development 16 37746.45
Lome Woreda Education Capacity Building 17 7000.00
Maritime And Transit Service Enterprise 2 59303.04
Maru Metal Industry 3 15349.04
Mekanisa Mekaneyesus Church 2104-13-0007 2288.00
Midroc Construction 12 37768.99
Ministry of Agriculture 13 21169.52
Mobil Oil East African LTD. 18 4938.67
Moha Soft Drink 21 30995.49
Mohamed Abdurahiman 22 1162.69
Mohmed zabir 23 912.00
Mohmed Yimer son Ltd Co. 24 1700.73
Motor Truck Company 25 3235.01
Mozvold PLC 26 2198.45
Muger Cement Factory 27 1018.47
Minicipality of Planning & Project 29 24891.77
Mohmed Abdulahie Agsedy 31 52907.91
Menco 35 2820.13
Meta Abo Brewary 40 56633.99
Mewit A.A region 41 40697.85
Misac G.C 55 1480.95
Matador-Addis Tyer Sh.Co. 76 2148.66
Melak Tadesse Modern Office 107 3422.54

20
 KALITI METAL PRODUCTS FACTORY
SCHEDULE OF ACCOUNTS
FOR THE YEAR ENDED JUNE 30 2005
Item DESCRIPTION ACCT. No. SUBSIDARY LEDGER
No. DEBIT CREDIT
Magon Construction 125 20174.22
National Alcohol & Liker Factory 3 56594.41
National Enginers 5 3887.86
Nile Coffee Export 7 20871.19
Nazeret Tractor Megetatemia(Assembly) Sc. 10 6145.55
National Enginers Contractors 12 1356.52
Nigiru Keberet B.C 20 27866.00
48 6646.39
Nefase Silk Laftao Housing Dev. Project 52 28938.95
Omedad Pvt. Limited co. 2 1250.79
Oromia Dev. Association 11 4868.64
PBPPE 3 5490.36
Police Force Referal Hospital 4 17560.50
Quality And Standared Authority 2104-17-0001 1075.89
Red sea Construction 14 83596.95
Rokon Construction 15 62544.11
Sentic Ethiopia PLC. 6 6434.86
Social Security 7 3802.42
Sur Construction 12 94785.20
Selam & Technical Vocational Center 24 79010.97
Sebeta agro Industry 28 18444.80
Star Busines Group 71 7863.24
St. Georges Church 104 1000.00
Tesfaye Yifiru General Contractor 4 7633.91
Teck tra enginering 8 1064.91
Teklebrihan Ambaye B.c. 11 82697.30
Tana Diriba 17 2553.61
Tamiru Yohannes 26 4395.21
Tenalem Trading 92 60000.00
Varnero Constrction 2104-22-0001 1953.89
Walta Ethiopia 2104-23-0001 1282.16
Wuluta Andeshe 34 8201.06
Yirga Import Interprise 3 1317.35
Ziqala Steel Rolling Mill 4 1625.25
Zuber Mohamed 7 2289.49
2324505.36
31 Accured Payable
Audit Fee 2107-0001 7391.30
2107-0003 593.84
2107-0005 662583.36
Accrued Others 2107-0006 38253.27
Accrued Interest Payable 2107-0008 53341.24
Accrued Annual Incentive fund 2107-0009 11981.37
Accured Annual Leave 2107-0011 632644.87
1406789.25
32 Taxation & Pension
Income Tax Payable 2201-0001 391.21

21
 KALITI METAL PRODUCTS FACTORY
SCHEDULE OF ACCOUNTS
FOR THE YEAR ENDED JUNE 30 2005
Item DESCRIPTION ACCT. No. SUBSIDARY LEDGER
No. DEBIT CREDIT
4% Pension Payable 2201-0002 64.62
6% Pension Payable 2201-0003 96.93
V.A.T Payable 2201-0006 392408.38
0.00 392961.14
33 Financial Obligation
Profit Tax 2301-0001 796916.28
State Dividend 2301-0002 51332.91
796916.28 51332.91
34 Short Term Loan
Short Term Loan-1st 2401-0001 2660740.21
Short Term Loan-2nd 2401-0002 3242964.88
5903705.09
35 Long Term Loan - For Grain Mill Factory From
D.B.E.
Principal 2611.0001 7500000.00
Interest 2611-0002 10365303.32
17865303.32
36 State Capital 3101-0001 9677918.83

37 Reserve
Legal Reserve 3201-0001 976288.44
Retained Profit 3201-0002 1885697.64

0.00 2861986.08
38 Cash Sales
Of Products - Flat Sheet 4101-0001 13068132.86
-Tube & Angle Iron 4101-0002 27962304.14
- Secco Profile 4101-0003 949482.92
- Press EGA & U Channel 4101-0004 16140709.52
- Structural & Furniture Unit 4101-0005 8405611.26
- Other Sales 4101-0006 534091.71
- Imported Materials for Resale 4101-0007 408283.45
67468615.86
39 Credit Sales
Flat Sheet 4102-0001 1936502.52
Tube And Angle Iron 4102-0002 3133221.52
Structural and Furniture Unit 4102-0005 2370.00
Other Sales 4102-0006 4605.00
5076699.04
40 Cash Sales Of Products At Awassa Branch
Flat Sheet 4101-01-0001 34233.94
Tube And Angle Iron 4101-01-0002 656173.29
Secco Profile 4101-01-0003 74071.44
Pressed Sheet, EGA & U-Channal 4101-01-0004 16453.31
Structural Unit 4101-01-0005 4644.36
785576.34
41 Cash Sales of Products At T/Haymanot Branch
Flat Sheet 4101-02-0001 475.24
22
 KALITI METAL PRODUCTS FACTORY
SCHEDULE OF ACCOUNTS
FOR THE YEAR ENDED JUNE 30 2005
Item DESCRIPTION ACCT. No. SUBSIDARY LEDGER
No. DEBIT CREDIT
Tube and Angle Iron 4101-02-0002 4113894.95
Secco Profile 4101-02-0003 676981.33
Pressed Sheet, EGA & U-Channal 4101-02-0004 445.68
Structural and Furniture Unit 4101-02-0005 27858.10
Other Sales 4101-02-0006 1243.20
4820898.50

42 Sales Returns & Discount 4103-0001 185252.71

43 Other Income 4104-0001 111979.74

44 Direct Materials Consumption

Manufacturing - Black 5101-01-1001 28626256.65
-Galvanized 5101-02-1001 13469541.99
-Aluminum 5101-04-1001 733.58
42096532.22
45 Direct Materials Consumption
Carpentery - Black 5102-01-1001 1505037.37
- Galvanized 5102-02-1001 79448.85
1584486.22
46 Indirect Materials Consumption-Manuf.
Fittings 5201-01-1001 296816.10
Beams & Bars 5201-02-1101 32134.29
Spare Parts 5201-04-1301 1235867.90
Electrode 5201-05-1401 5071.27
Grain Mill Items 5201-06-1501 17850.00
Mobile Cookers Items 5201-07-1601 4854.05
1592593.61
47 Indirect Materials Consumption -Structural
Fittings 5202-01-1001 52225.19
Deformed Bars 5202-02-1101 41250.21
Spare Parts 5202-04-1301 34050.01
Electrods 5202-05-1404 37300.09
Grain mill Spare Parts 5202-06-1501 1694.00
166519.50
48 Salary and Wages at Cost Centers
Cutting and Slitting
Salary 5301-01-1001 198999.61
Overtime 5301-01-1101 31325.08
Annual Leave 5301-01-1201 454.04
230778.73
49 OME and SECCO
Salary 5302-01-1001 281760.18
Overtime 5302-01-1101 72300.85
Annual Leave 5302-01-1102 9831.91
363892.94

23
 KALITI METAL PRODUCTS FACTORY
SCHEDULE OF ACCOUNTS
FOR THE YEAR ENDED JUNE 30 2005
Item DESCRIPTION ACCT. No. SUBSIDARY LEDGER
No. DEBIT CREDIT
50 EGA. U Channal & Press
Salary 5303-01-1001 216311.82
Overtime 5303-01-1101 34733.76
Annual Leave 5303-01-1201 1546.43
252592.01
51 Structural & Furniture Unit
Salary 5304-01-1001 886182.30
Overtime 5304-01-1101 65010.84
Annual Leave 5304-01-1202 32033.46
983226.60
52 Factory Overhead
Salary & Wage
Salary 6101-0021 746495.01
Wage 6101-0022 57968.16
Overtime 6101-0023 184091.23
Annual Leave 6101-0024 29289.66

Employees Benefit
6% Pension 6101-0031 139354.02
Medical 6101-0032 85417.70
Uniform 6101-0033 135373.20
Tution Fee 6101-0034 5145.50
Milk Expense 6101-0035 1125.22
6101-0036 389012.08
Funeral Expense 6101-0037 2000.00

Depreciation
Building & Land Improvement 6101-0041 85981.31
Machinery 6101-0042 1128382.40
Hand Tools 6101-0043 1640.00

Repair and Maintenance

Machinery 6101-0051 27572.83
Work Shop Spare Parts and Other Material 6101-0052 113245.40
Truck Mobile Crane Forklift 6101-0053 48898.53

Electricity and Water Consumption 6101-0061 238160.81

Factory Supplies
Stationary Printing Office Supplies 6101-0063 14333.37
Cleaning and Sanitery Supplies 6101-0064 13672.23
Paint 6101-0068 27895.63
Electrical Supplies 6101-0066 37239.65

Training Expense 6101-0070 26450.00

Fuel Lubricant & Greese 6101-0071 108314.26

24
 KALITI METAL PRODUCTS FACTORY
SCHEDULE OF ACCOUNTS
FOR THE YEAR ENDED JUNE 30 2005
Item DESCRIPTION ACCT. No. SUBSIDARY LEDGER
No. DEBIT CREDIT
Insurance 6101-0072 100725.00

Others
Food Accomodation Perdium,Transport 6101-0062 31950.17
Entertaining 6101-0065 17044.95
Customs Inspection Fee 6101-0067 1790.00
Cylinder Rent 6101-0074 825.00
Machinary Rent 6101-0079 1715.58
Consultancy Fee 6101-0080 1179.64
3802288.54
53 Cost Of Goods Sold
Fitting & Others 7102-01-1001 520267.91
Grain Mill & Mobile Cooker 7102-02-1001 6710.54
526978.45
54 Cost Of Goods Sold Main Products 7105-01-1001 390392.37
55 Selling & Distribution Expense
Salary and Wage
Salary 8101-0021 547604.94
Wage 8101-0022 15887.42
Overtime 8101-0023 45508.63
Annual Leave 8101-0024 11221.18

Employees Benefit
6% Pension 8101-0031 40953.77
Medical 8101-0032 17531.46
Uniform 8101-0033 5473.18
Education Fee 8101-0034 17313.50
8101-0035 109158.56

Building & Repair Charge 8101-0054 568.63

Repair Charge Furniture & Equipments 8101-0055 2179.98

Food Accomodation and Perdium 8101-0062 26649.58

Stationary & Office Supplies 8101-0063 43612.80

Cleaning and Sanitary Supplies 8101-0064 3955.95

Entertaining 8101-0065 515.55

Advertizing and Publicity 8101-0066 277574.32

Bid Announcement 8101-0070 3594.00

Training Expense 8101-0071 6242.41
Stock Obsolecence 8101-0074 376676.21
1552222.07

25
 KALITI METAL PRODUCTS FACTORY
SCHEDULE OF ACCOUNTS
FOR THE YEAR ENDED JUNE 30 2005
Item DESCRIPTION ACCT. No. SUBSIDARY LEDGER
No. DEBIT CREDIT
56 Selling & Distribution Expense Awasa Branch
Salary 8101-01-0021 32311.50
Wage 8101-01-0022 9740.30
Leave Pay 8101-01-0024 5331.36

Employees Pension 8101-01-0031 1221.42

Medical Expense 8101-01-0032 1043.36
School Fee 8101-01-0034 2035.00
Building Repair Charge 8101-01-0054 71.00

Electric and Water Consumption 8101-01-0061 783.48

Transport Allowance 8101-01-0062 9948.98

Stationary Printing & Office Supplies 8101-01-0063 140.00

Cleaning & Sanitary Supplies 8101-01-0064 224.00

Advertising and Publicity 8101-01-0066 4503.50

Telephone Expense 8101-01-0067 350.24
Bank Charge 8101-01-0070 1508.91
Rent of Sales Shop 8101-01-0073 8400.00
Municipality Tax 8101-01-0074 2625.00
80238.05

57 Selling and Distribution -T/haymanot Branch

Salary and Wage
Salary 8101-02-0021 85779.31
Wage 8101-02-0022 9961.82
Overtime 8101-02-0023 3141.93
Annual Leave 8101-02-0024 15173.51

Medical Expense 8101-02-0032 277.77

Uniform 8101-02-0033 1300.74
School Fee 8101-02-0034 3718.00

Building Repair Charge 8101-02-0054 351.30

Electricity And Water 8101-02-0061 1133.30

Food Accomodation and Perdium 8101-02-0062 7826.96

Stationary & Printing 8101-02-0063 310.40

Cleaning & Saniary Supplies 8101-02-0064 979.10
Postage Telephone Expense 8101-02-0066 3146.61

26
 KALITI METAL PRODUCTS FACTORY
SCHEDULE OF ACCOUNTS
FOR THE YEAR ENDED JUNE 30 2005
Item DESCRIPTION ACCT. No. SUBSIDARY LEDGER
No. DEBIT CREDIT
Bank Charge 8101-02-0070 600.50
Rent Of Sales Shop 8101-02-0073 120000.00
253701.25
58 Administration Expense
Salary and Wage
Salary 8102-0021 1276558.45
Wage 8102-0022 73004.35
Overtime 8102-0023 219075.55
Annual Leave 8102-0024 49923.79

Employees Benefit
6% Pension 8102-0031 81717.86
Medical 8102-0032 50130.33
Uniform 8102-0033 26945.30
Education & Tution Fee 8102-0034 31006.00
Bonus 8102-0035 174498.85
Funeral 8102-0036 2500.00
Employees Prize 8102-0037 4000.00

Depreciation
Building & Land Improvement 8102-0041 8168.46
Office Equipment 8102-0045 34330.04
Vechicle 8102-0046 290768.35
Specialised Equipments 8102-0047 17235.01
Computer& Software 8102-0090 71538.83

Repair Charge
Building 8102-0054 23875.73
Furniture and Office Equipment 8102-0055 15412.78

Food Accomodation Perdium & Transport 8102-0062 64897.44

Stationary,Printing Office Supplies 8102-0063 99358.53

Cleaning &Sanitary Supplies 8102-0064 10752.05

Entertaining Expense 8102-0065 7780.55

Postage Telephone Telex 8102-0066 72058.82

Training Expense 8102-0067 26854.96

Interest
Interest On Overdraft 8102-0068 1021033.92
Interest On Long Term Loan 8102-0069 1154032.28
27
 KALITI METAL PRODUCTS FACTORY
SCHEDULE OF ACCOUNTS
FOR THE YEAR ENDED JUNE 30 2005
Item DESCRIPTION ACCT. No. SUBSIDARY LEDGER
No. DEBIT CREDIT
Bank Charge 8102-0070 71633.39
Repair Charge Of Vehicles 8102-0071 203304.25

Fuel & Lubricants 8102-0072 271493.17

Insurance 8102-0073 77577.30

Municipality Tax & Relted Expense 8102-0074 71693.20

Mess Hall Material Expense 8102-0075 1885.94

Board Men & Perdium Allowance 8102-0076 26625.00

Annual Incentive Fund 8102-0077 21367.40

Car Parking Expense 8102-0078 2073.00
Legal Case Expense 8102-0079 4870.20

Audit Fee 8102-0081 7391.30

Vacant Annoncement & Examination fee 8102-0083 2272.00

Employees Federation 8102-0086 3350.00
Rent Expense 8102-0088 4000.00
Donation Expense 8102-0089 12000.00
Provision for Bad Debt 8102-0090 1641189.22
7330183.60

28
 KALITI METAL PRODUCTS FACTORY
WORK SHEET
FOR THE YEAR ENDED OF JUNE 30, 2005
TRIAL BALANCE INCOME STATEMENT BALANCE SHEET
DESCRIPTION ACCT NO. DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT
Cash on Hand 1101 722738.08 722738.08
Cash at Bank 1104 11216315.61 11216315.61
Trade Debtors 1401 2288518.63 2288518.63
Provision For Doubtful Trade Debtors 1401-01 1041682.72 1041682.72
Other Trade Debtors 1403 599556.56 599556.56
Provision For Doubtful Other Trade Debtors 1403-01 599556.56 599556.56
Prepayments 1404 985078.71 985078.71
MTSC Contra Account 1404-04 169042.15 169042.15
Staff Debtors 1405 144203.21 144203.21
Sundary Debtors 1406 1248.20 1248.20
Purchase and Trip Advance 1409 87415.92 87415.92
Purchase Advance On Petty Cash 1409-01 1522.97 1522.97 0.00
Finished Goods. 1501 10835418.35 10835418.35
Work In Process 1502 361863.71 361863.71
Direct Materials Imported 1513 24532659.15 24532659.15
Packing Materials Imported 1514 64718.12 64718.12
Spare Parts Imported 1515 5750703.75 5750703.75
Stock Obsolescence 1515-00 2218969.43 2218969.43
Other Direct Materials Imported 1516 2363371.08 2363371.08
Stock Obsolecence 1516-00 148956.11 148956.11
Stationary Materials 1517 182880.57 182880.57
Goods In Transit 1601 21811241.46 21811241.46
Provision For Goods In Transit 1601-00 2505618.75 2505618.75
Fixed Assets 1700 32285858.97 32285858.97
Accumulated Deprecations Fixed Assets 1700-00 25327158.31 25327158.31
Construction In Progress 1801 37048.84 37048.84
Fixed Assets In Transit 1802 433796.37 433796.37
Trade Creditors 2101 22901.92 22901.92
Sundary Creditors 2102 3680164.78 3680164.78
Custmors Advance Payment 2104 2324505.36 2324505.36
Accrued Liabilities 2107 1406789.25 1406789.25
Tax Payables 2201 392961.14 392961.14
Financial Obiligations 2301 796916.28 51332.91 745583.37
Short Term Loans 2401 5903705.09 5903705.09
Long Term Loans 2611 17865303.32 17865303.32
State Capital 3101 9677918.83 9677918.83
General Reserve 3201 2861986.08 2861986.08
Cash Sales Main Products 4101 73075090.70 73075090.70
Credit Sales Main Production 4102 5076699.04 5076699.04
Sales Return 4103 185252.71 185252.71
Other Income 4104 111979.74 111979.74
Direct Materials Consumed MFG. 5101 42096532.22 42096532.22
Direct Materials Consumed Structural 5102 1584486.22 1584486.22
Indirect Materials Consumed CSC. 5201 1592593.61 1592593.61
Indirect Materials Consumed Structurals 5202 166519.50 166519.50
Direct Labour CSC. 5301 230778.73 230778.73
" " OME & SECCO 5302 363892.94 363892.94
" " EGA & PRESS 5303 252592.01 252592.01
" " CONSTRUCTION 5304 983226.60 983226.60
Factory Overhead 6101 3802288.54 3802288.54
Cost Of Goods Sold Fittings,Beam,G/Mill Parts 7102 526978.45 526978.45
" " " Various Finished Products 7105 390392.37 390392.37
Selling and Distribution Expense -Head Office 8101 1552222.07 1552222.07
Selling and Distribution Expense-Awassa Branch 8101-01 80238.05 80238.05
Selling and Distribution Expense-Teklehaymanot 8101-02 253701.25 253701.25
General Administration Expense 8102 7330183.60 7330183.60
TOTAL BALANCE 165678637.80 165678637.80 61391878.87 78263769.48 104235426.02 87363535.41
NET INCOME (LOSS) 16871890.61 16871890.61
GRAND TOTAL 165678637.80 165678637.80 78263769.48 78263769.48 104235426.02 104235426.02
 KALITI METAL PRODUCTS FACTORY
TRIAL BALANCE
AS AT JUNE 30 2005
TRIAL BALANCE
DESCRIPTION ACCT NO. DEBIT CREDIT
Cash on Hand 1101
Petty Cash Fund 1102
Payroll Fund 1103
Cash at Bank 1104
Trade Debtors 1401
Provision For Doubtful Trade Debtors 1401-01 1041632.66
Other Trade Debtors 1403
Provision For Doubtful Other Trade Debtors 1403-1 599556.56
Prepayments 1404 61323.08
MTSC Contra Account 1404-04
Staff Debtors 1405
Sundary Debtors 1406 211.54
Provision For Doubtful Sundary Debtors 1406-06
Withholding Tax 1408
Purchase and Trip Advance 1409 3855.00
Purchase Advance On Petty Cash 1409-01
Finished Goods Manuf. & Construc.Prod. 1501 416936.72
Work In Process 1502
Direct Materials Imported 1513
Packing Materials Imported 1514
Spare Parts Imported 1515 484966.35
Stock Obsolescence 1515-00
Other Direct Materials Imported 1516 1994.10
Stock Obsolecence 1516-00
Stationary Materials 1517
Goods In Transit 1601 12057.00
Provision For Goods In Transit 1601-00
Fixed Assets 1700 6637.37
Accumulated Deprecations Fixed Assets 1700-00 119652.92
Construction In Progress 1801
Fixed Assets In Transit 1802
Trade Creditors 2101 816.27
Sundary Creditors 2102 90587.09
Custmors Advance Payment 2104 16402.99
Accrued Liabilities 2107 700353.28
Tax Payables 2201 110.08
 KALITI METAL PRODUCTS FACTORY
TRIAL BALANCE
AS AT JUNE 30 2005
TRIAL BALANCE
DESCRIPTION ACCT NO. DEBIT CREDIT
Financial Obiligations 2301 87700.00
Short Term Loans 2401
Long Term Loans 2611
State Capital 3101
General Reserve 3201 534.00
Cash Sales Main Products 4101 91154.83
Credit Sales Main Production 4102
Sales Return 4103
Other Income 4104 101197.00
Direct Materials Consumed MFG. 5101
Direct Materials Consumed Structural 5102
Indirect Materials Consumed CSC. 5201 109370.14
Indirect Materials Consumed Structurals 5202 28981.00
Direct Labour CSC. 5301
" " OME & SECCO 5302
" " EGA & PRESS 5303
" " CONSTRUCTION 5304
Factory Overhead 6101 394809.33
Cost Of Goods Sold Fittings,Beam,G/Mill Parts 7102
" " " Various Finished Products 7105 416902.83
Selling and Distribution Expense -Head Office 8101 487660.54
Selling and Distribution Expense-Awassa Branc 8101-01
Selling and Distribution Expense-Teklehaymanot 8101-02
General Administration Expense 8102 1806977.00
TOTAL BALANCE 3541189.55 3541190.13
 KALITI METAL PRODUCTS FACTORY
TRIAL BALANCE
AS AT JUNE 30 2005
TRIAL BALANCE
DESCRIPTION ACCT NO. DEBIT CREDIT
Cash on Hand 1101 722738
Petty Cash Fund 1102
Payroll Fund 1103
Cash at Bank 1104 11216316
Trade Debtors 1401 2288519
Provision For Doubtful Trade Debtors 1401-01 50
Other Trade Debtors 1403 599557
Prepayments 1404 985079
MTSC Contra Account 1404-04 169042
Staff Debtors 1405 144203
Sundary Debtors 1406 1248
Provision For Doubtful Sundary Debtors 1406-06
Purchase and Trip Advance 1409 87416
Purchase Advance On Petty Cash 1409-01 1523
Finished Goods Manuf. & Construc.Prod. 1501 10835418
Work In Process 1502 361864
Direct Materials Imported 1513 24532659
Packing Materials Imported 1514 64718
Spare Parts Imported 1515 5750704
Stock Obsolescence 1515-00 2218969
Other Direct Materials Imported 1516 2363371
Stock Obsolecence 1516-00 148956
Stationary Materials 1517 182881
Goods In Transit 1601 21811241
Provision For Goods In Transit 1601-00 2505619
Fixed Assets 1700 32285859
Accumulated Deprecations Fixed Assets 1700-00 25327158
Construction In Progress 1801 37049
Fixed Assets In Transit 1802 433796
Trade Creditors 2101 22902
Sundary Creditors 2102 3680165
Custmors Advance Payment 2104 2324505
Accrued Liabilities 2107 1406789
Tax Payables 2201 392961
Financial Obiligations 2301 745583
Short Term Loans 2401 5903705
 KALITI METAL PRODUCTS FACTORY
TRIAL BALANCE
AS AT JUNE 30 2005
TRIAL BALANCE
DESCRIPTION ACCT NO. DEBIT CREDIT
Long Term Loans 2611 17865303
State Capital 3101 9677919
General Reserve 3201 2861986
Cash Sales Main Products 4101 73075091
Credit Sales Main Production 4102 5076699
Sales Return 4103 185253
Other Income 4104 111980
Direct Materials Consumed MFG. 5101 42096532
Direct Materials Consumed Structural 5102 1584486
Indirect Materials Consumed CSC. 5201 1592594
Indirect Materials Consumed Structurals 5202 166520
Direct Labour CSC. 5301 230779
" " OME & SECCO 5302 363893
" " EGA & PRESS 5303 252592
" " CONSTRUCTION 5304 983227
Factory Overhead 6101 3802289
Cost Of Goods Sold Fittings,Beam,G/Mill Parts 7102 526978
" " " Various Finished Products 7105 390392
Selling and Distribution Expense -Head Office 8101 1552222
Selling and Distribution Expense-Awassa Branc 8101-01 80238
Selling and Distribution Expense-Teklehaymanot 8101-02 253701
General Administration Expense 8102 7330184
TOTAL BALANCE 165627305 163986116
 KALITI METAL PRODUCTS FACTORY
TRIAL BALANCE
AS AT JUNE 30 2005
TRIAL BALANCE
DESCRIPTION ACCT NO. DEBIT CREDIT
Cash on Hand 1101 722738
Petty Cash Fund 1102
Payroll Fund 1103
Cash at Bank 1104 11216316
Trade Debtors 1401 2288519
Provision For Doubtful Trade Debtors 1401-01 50
Other Trade Debtors 1403 599557
Provision For Doubtful Other Trade Debtors 1403-1
Prepayments 1404 985079
MTSC Contra Account 1404-04 169042
Staff Debtors 1405 144203
Sundary Debtors 1406 1248
Provision For Doubtful Sundary Debtors 1406-06
Purchase and Trip Advance 1409 87416
Purchase Advance On Petty Cash 1409-01 1523
Finished Goods Manuf. & Construc.Prod. 1501 10835418
Work In Process 1502 361864
Direct Materials Imported 1513 24532659
Packing Materials Imported 1514 64718
Spare Parts Imported 1515 5750704
Stock Obsolescence 1515-00 2218969
Other Direct Materials Imported 1516 2363371
Stock Obsolecence 1516-00 148956
Stationary Materials 1517 182881
Goods In Transit 1601 21811241
Provision For Goods In Transit 1601-00 2505619
Fixed Assets 1700 32285859
Accumulated Deprecations Fixed Assets 1700-00 25327158
Construction In Progress 1801 37049
Fixed Assets In Transit 1802 433796
Trade Creditors 2101 22902
Sundary Creditors 2102 3680165
Custmors Advance Payment 2104 2324505
Accrued Liabilities 2107 1406789
Tax Payables 2201 392961
Financial Obiligations 2301 745583
Short Term Loans 2401 5903705
Long Term Loans 2611 17865303

10
 KALITI METAL PRODUCTS FACTORY
TRIAL BALANCE
AS AT JUNE 30 2005
TRIAL BALANCE
DESCRIPTION ACCT NO. DEBIT CREDIT
State Capital 3101 9677919
General Reserve 3201 2861986
Cash Sales Main Products 4101 73075091
Credit Sales Main Production 4102 5076699
Sales Return 4103 185253
Other Income 4104 111980
Direct Materials Consumed MFG. 5101 42096532
Direct Materials Consumed Structural 5102 1584486
Indirect Materials Consumed CSC. 5201 1592594
Indirect Materials Consumed Structurals 5202 166520
Direct Labour CSC. 5301 230779
" " OME & SECCO 5302 363893
" " EGA & PRESS 5303 252592
" " CONSTRUCTION 5304 983227
Factory Overhead 6101 3802289
Cost Of Goods Sold Fittings,Beam,G/Mill Parts 7102 526978
" " " Various Finished Products 7105 390392
Selling and Distribution Expense -Head Office 8101 1552222
Selling and Distribution Expense-Awassa Branc 8101-01 80238
Selling and Distribution Expense-Teklehaymanot 8101-02 253701
General Administration Expense 8102 7330184
TOTAL BALANCE 165627305 163986116

11
 KALITI METAL PRODUCTS FACTORY
PROFIT AND LOSS STATEMENT
FOR THE YEAR ENDED JUNE 30 2005

NOTES JUNE 30 2005 JUNE 30. 2004

REVENUE

Sales (Net) 16 77966537 48073704

Cost of Goods Sold 17 51990282 34355311
Gross Operating Profit 25976255 13718393

Other Income 18 111980 217879

EXPENSES

Selling & Distribution 19 1509485 1262443

Administration Expense 20 3479912 3355074
Bank Loan Interest 21 2175066 2151041
Audit Fee 7391 9000
Boardmen Allowance 26625 49621
Provision for For Bad Debt 1641189
Provision for Stock Obsolecence 376676 140802
Total Expense 9216345 6967981

NET PROFIT BEFORE TAX 16871890 6968291

PROVISION FOF TAXATION 5666927 2102488
NET PROFIT AFTER TAX 11204964 4865803
TRANSFERED TO LEGAL RESERVE 560248 243290
10644716 4622513

TRANSFERED TO STATE DIVIDENED 10644716 4622513

RETAINED PROFIT - -
 .2.
KALITI METAL PRODUCTS FACTORY
BALANCE SHEET
AS AT JUNE 30 2005

ASSETS EMPLOYED NOTES JUNE 30 2005 JUNE 30 2004

FIXED ASSETS (NET) 2 7429546 8372407

CURRENT ASSETS

Stock and Goods in Transit 3 61029312 52355305

Debtors and Prepayments 4 2297263 2543351
With Holding Tax Receivable 6 - -
Cash and Bank Balances 5 787823 159461
64114397 55058117

CURRENT LIABILITES

Creditors and Accruals 7 7827322 9924250

Bank Overdraft 8 11281400 14581568
Short Term Loan 9 5903705 4252339
Provision For Taxation 10 4870010 1235932
State Dividend Payable 11 10696049 3633928
40578486 33628017

NET CURRENT ASSETS 23535911 21430100

NET TOTAL ASSETS 30965457 29802507

FINANCED BY

Paid up Capital 13 9677919 9677919

Legal Reserve 12 1536537 973587
Retained Profit 14 1885698 1885698
Long Term Loan 15 17865303 17265303
30965457 29802507
 .1.
KALITI METAL PRODUTS FACTORY
CASH FLOW STATEMENT
FOR THE YEAR ENDED JUNE 30 2005

June 30 2005 June 30 2004

Birr Birr
Cash Flow From Operating Activities
Net Profit Before Tax 16871890 6968291
Adjustment for:
Depreciation 1638044 1966791
Interest 2175066 2151041

Oper.Pr.Before Working Capital Change

Decrease (Increase) in Stock -8674007 -15375725
Decrease(Increase) in Debtors 246088 399560
Increase (Decrease) in Creditors -2096928 3205510
Prior Year Adjustments 36098 -1469459
Cash Generated From Operation 10196253 -2153991

Net Cash Flow From Oper. Activities

Profit Tax Paid -1235932 -600995
Withholding Tax Paid -778980 -434526
Net Cash Flow From Operation Activities 8181341 -3189512

Cash Flow from Investing Activities

Purchase of Fixed Asset -854684 -560985
Proceed From Disposal of Fixed Assets
Net Cash Out Flow From Investing Activities -854684 -560985

Cash Flow From Financing Activities

Short Term Loan Received 3242965 4252339
Short Term Loan Repaid -1591599
Interest Paid -1575066 -1551041
State Dividened Paid -3633928 -1003777
Net Cash Out Flow From Financing Activities 3769029 -2052976

Net Increase (Decrease) in Cash & Cash Equivalent

Cash and Cash Equivalent at the Begining of the Year 14422107 12369131
Cash and Cash Equivalent at the End of the Year -10493578 -14422107
3928529 -2052976
Components of Cash & Cash Equvalent
Cash in Hand and At Bank 787823 159461
Bank Overdraft -11281400 -14581568
10493578 -14422107

.3.
KALITI METAL PRODUCTS FACTORY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED JUNE 30,2005

1. ACCOUNTING POLICIES

The principal accounting policies adopted by the factory which are consistent with the polices applied in
the preceding years are stated below.

a) Depreciation
Fixed assets are stated at cost less accumulated depreciation.Depreciation is charged on
straight-line basis for building & roads at the following and for the rest it is charged on net
book value on reducing balance basis as per the proclamation no- 286/20.

%
Building and Roads 5
Plant Machanery 20
Motor Vehicles 20
Hand Tools and Equipment 20
Water Well 20
Rail way line 20
Specialised Equipments 20
Computers,software products 25

b) Stocks are valued as follows:

I) Finished products and work in process at production cost on weighted average basis.

ll) Raw materials, spare parts, materials imported for resale and other materials at moving
average cost.

lll) Supplies are directly expensed up on purchase and later on recorded to stock account
based on physical inventory taken at year end and valued at latest purchase price.

C) Sales are stated net of value added tax and discount.

d) Provision for doubtful debts and stock obsolecence are made for specific debtors and stock
balances as and when management considers it appropriate.
 .4.
Account No. June 30 2005 June 30 2004
Birr Birr
4. DEBTORS & PREPAYMENTS
Trade Debtors 1401 2288519 1135156
Prepayment & Deposit 1404 816037 252131
Staff Debtors 1405 144203 138782
Sundry Debtors 1406 1248 8214
Purchase Advance 1409 88939 147804
Inland Revenue Authority 1408 0 261757
Other Debtors 1403 599557 599557
3938502 2543401

Less:- Provision For Doubtful Acct.Rec. 1641239 50.00

2297263 2543351

5.CASH & BANK BALANCE

Cash on Hand 1101 722738 72208
Petty Cash 1102
Cash at Bank 1104 65084 87253
787823 159461.00

6.WITHHOLDING TAX
Withholding Tax-Foreign Purchase 40128 279308
-Sales 738852 654619
Sub Total 778980 933927
Less Transferred to Provision for Profit Tax -778980 -933927
NIL NIL

7.CREDITORS & ACCRUALS

Advance Received From Customers 2104 2324505 3760347
Trade Creditors 2101 22902 17109
Sundry Creditors 2102 3680165 3928317
Tax Payables 2201 392961 1069209
Accruals 2107 1406789 1149268
7827322 9924250
 .6.
June 30 2005 June 30 2004
Birr Birr
8. BANK OVERDRAFT 11281400 14581568
The Bank overdraft facility obtained from Commercial Bank of Ethiopia Kaliti Branch on the
security of the building and motor vechicles of the factory which has a maximum limit of Birr 25,000,000.

9. SHORT&MEDIUM TERM LOAN

Short & Medium Term Loan 5903705 4252339

10.PROVISION FOR TAXATION

Balance Brought Forward 1235932 597810
Less Prior Year Adjustment -17936 -428845
Add Profit Tax of the Year 5666927 2102488
Less Profit Tax Paid During the Year -1235932 -600995
Transferred From Withholding Tax -778980 -434526
4870010 1235932

11.STATE DIVIDEND PAYABLE

Opening Balance Brought forward 3633928 806960
Less Prior Year Adjustement 51333 -791769
Less Payment During the Year -3633928 -1003777
Add Current Year Dividened Payable 10644716 4622514
10696049 3633928.00
12.LEGAL RESERVE
Balance Brought Forward 973587 782327
Add Approration for the Year 560248 243290
Prior Year Adjustment 2702 -52030.00
1536537 973587

13. STATE CAPITAL 9677919 9677919

14.RETAINED PROFIT
Balance Brought Forward 1885698 2082514
Add Transferred From Profit of the Year
Less Prior Year Adjustment -196816
1885698 1885698.00

15. LONG TERM LOAN

 DBE Loan Principal 7500000 7500000.00
Accured Interest Capitalized 10365303 9765303.00
17865303 17265303

.7.
15.1 This long term loan was received by the factory through the former National Metal Works
corporation from the Agricultural and Industrial Development Bank (Now Development Bank
of Ethiopia) on the bases of promissory note issued by the Ministry of Finance in favour of the bank.
The loan was received on 17 March 1988 for the construction of Grain Mill Factory and bear interest
at the rate of 8% per annum. A formal loan agreement has not yet been signed with the bank and the
date of commencement of the repayment of the loan and the repayment period has not yet been fixed.
Interest accured on the loan to date has been capitalized.

16. SALES
Structural Tubes and Angle Iron Black 35865594 20774003
Galvanized and Black Flat Sheet 15039345 8656862
Window and Door Profiles 1700536 2414865
Ribbed Sheet EGA & "U" Channel 16157609 10221246
Structural Unit and Window and Door 8440484 4748366
Other Sales 539940 562537
Imported Materials For Resales 408283 695825
Less Sales Return and Discount -185253
77966537 48073704
17.COST OF GOODS SOLD
Work In Process Begining 259484 62891
Direct Raw Material Consumed 43681018 27067242
Indirect Material Consumed 1759113 519162
Direct Labour 1830490 1683616
Indirect Labour 1017844 784107
Depreciation 1216004 1483945
Employees Benefit 757428 588081
Electricity & Water Consumption 238161 219131
Insurance 100725 85795
Training 26450 6560
Supplies Used 93141 22432
Repair and Maintenance 189717 124139
Fuel and Lubricant 108314 102926
Others 54505 119203
51332394 32869230
Less Work In Process Ending 361864 259484
Cost of Goods Produced During The Year 50970530 32609746
Add:Cost of Finished Goods Inventory Beg. 11328157 12651735
Less Cost of Finished Goods Inventory Ending 10835418 11328157
51463269 33933324
Add Cost of Imported Mat.For Resale Begining 1554595 1818434
Add Purchase of Imported Mat. For Resale 1335789 158147
Less Cost of Imported Mat.For Resale Ending 2363371 1554595
COST OF GOODS SOLD 51990282 34355311

.8.
18. OTHER INCOME
Insurance claim 30129 10331
Sales of Bid Document 15300 0
Creditors Balance Written Off 59595 100800
Others 6956 106748
111980 217879

19.SELLING AND DISTRIBUTION EXPENSE

Salary and Wages 781662 659008
Employees Benefit 200027 142642
Stationary and Office Supplies 49222 22125
Perdium and Travelling Expense 44426 30682
Advertizing and Publicity 282078 254765
Training 6242 5920.00
Rent of Sales shop 128400 128400.00
Electricity & Water 1917 1689.00
Postage and Telephone 3497 5695
Others 12015 11517
1509485 1262443

20. ADMINISTRATION EXPENSE

Salaries and Wages 1618562 1518828
Employees Benefit 370798 342852
Postage, Telephone and Fax 72059 67220
Stationary and Office Supplies 99359 100344
Muniucipality Tax 71693 44408
Insurance 77577 83414
Bank Charge 71633 53299
Traveling and Perdium 64897 68287
Car Running 271493 225692
Repair and Maintanance 242593 238408
Cleaning and Sanitary Supplies 10752 18775
Training 26855 14617
Deperciation 422041 482846
Bad Debt Expense 5158
Others 59599 90926
3479912 3355074
21. INTEREST
Interest on Bank Over Draft 1021034 1109695
Interest on Long Term Bank Loan 600000 600000
Interest on Short Term Bank Loan 554032 441346
Total 2175066 2151041

.9.
 KALITY METAL PRODUCTS FACTORY
BANK RECONCILATION STATEMENT AS AT JUNE 30,2005

BANK :COMMERCAL BANK OF ETHIOPIA AKAKI BRANCH A/C NO C/A - 7

BALANCE PER BANK STATEMENT 47442.90
ADD: (DEPOSIT IN TRANSIT)
D/S DATE DESCRIPTION AMOUNT REMARK

GRAND TOTAL 47442.90

 .38.
KALITY METAL PRODUCTS FACTORY
BANK RECONCILATION STATEMENT AS AT JUNE 30,2005

BANK :COMMERCIAL BANK OF ETHIOPIA KALITI BRANCH A/C NO C/A 29

BALANCE PER BANK STATEMENT -11836547.12
ADD: (DEPOSIT IN TRANSIT)
D/S DATE DESCRIPTION AMOUNT REMARK
1988 23/06/05 DEPOSIT IN TRANSIT 82000.00
2013 29/06/05 " 62910.75
2014 " " 1092.27
2015 " " 719.61
2016 " " 222028.05
2017 " " 779.00
2018 " " 32946.73
2020 " " 3043.74
2021 " " 60000
2022 " " 18414.48
2037 " " 37746.45
2043 " " 39389.09
2044 30/06/05 " 33438.96
2045 " " 22414.79
231888.96
SUB TOTAL 848812.88
GRAND TOTAL -10987734.24
 .39.
LESS OUTSTANDING CHECK
DATE CPV Checque No DESCRIPTION AMOUNT REMARK
9/5/2005 20540 EG53155891 PURCHASE OF UNIFORM 540.00 NOT YET CASHED
24/05/05 20595 EG5315955 " " " 5520 "
1/6/2005 20638 PAYABLE TO LABOUR UNIOUN 1938.42 "
6/6/2005 20652 EG5318518 PAID TO WITHHOLDING TAX 504.50 "
8/6/2005 20664 EG5318529 REFUND OF REMAINING BALANCE 1230.08 "
13/06/05 20680 EG5318544 PAYAMENT O REMAINING BALANCE 2500.00 "
17/06/05 20703 EG5315867 PAID TO ADVERTISING 1085.61 "
20/06/05 20709 EG5318571 ANNUAL LEAVE PAY 10000 "
23/06/05 20716 EG5315878 PAYMENT TO SPONSERSHIP 2592 "
23/06/05 20718 EG5318580 PURCHASE OF GUEST CHAIR 540 "
24/06/05 20726 EG5318588 PURCHASE OF EYE GOGLE 1926.40 "
24/06/05 20727 EG5318589 MESSHALL DEDUCTION 1330 "
24/06/05. 20728 EG5318590 EDIR DEDUCTION 1495.33 "
" 20729 EG5318591 PAYMENT TO TESFA LEGOJO 1250.00 "
" 20730 EG5318592 PAYMENT TO KOLFE HOUSEHOLD 3334.00 "
" 20731 EG5318593 PAID TO ADVERTISING 6863.6 "
" 20732 EG5318594 PURCHASE ADVANCE 845.85 "
" 20734 EG5318596 PAYMENT TO PRINTING 11602.84 "
" 20735 EG5318597 PURCHASE OF CLEANING MATERIALS 12275.19 "
" 20736 EG5318598 PURCHASE OF SPRING WIRE 600.00 "
" 20737 EG5318599 PURCHASE OF WIPER SPRING 852.61 "
" 20738 EG5318600 PURCHASE ADVANCE 560 "
" 20742 EG5318603 REPAIR CHARGE 3951.36 "
" 20744 EG5318605 OCEAN FREIGHT CHARGE 37728.86 "
27/06/05 20745 EG5318606 SCHOOL FEE 1150 "
" 20748 EG5318609 REFUND OF REMAINING BALANCE 1110.46 "
" 20749 EG5318610 PERSONAL INCOME TAX 6995.44 "
" 20751 EG5318611 PAID TO WITHHOLDING TAX 7548.63 "
27/06/05 20752 EG5318612 SCHOOL FEE 1240 "
30/06/05 20753 EG5318613 PENSION CONTRIBUTION 35422.22 "
" 20754 EG5318614 PERSONAL INCOME TAX 50276.39 "
" 20755 EG5318615 PAYMENT OF WITHHOLDING TAX 518.36 "
" 20756 EG5318616 " '' 292.03 "
" 20757 EG5318617 OCEAN FREIGHT CHARGE 5000.00 "
" 20758 EG5318618 DAILY WORKERS WAGE 1098.73 "
" 20759 EG5318619 SCHOOL FEE 880.00 "
" 591 PAYMENT TO OROMIA MEHABER 39.00 "
" 592 PAYABLE TO LABOUR UNIOUN 1284.26 "
" 593 PAYMENT TO CREDIT ASSOCIATION 69743.65 "
" "
SUB TOTAL 293665.82
GRAND TOTAL -11281400.06
 .40.
KALITY METAL PRODUCTS FACTORY
BANK RECONCILATION STATEMENT AS AT JUNE 30,2005

BANK :COMMERCIAL BANK OF ETHIOPIA AWASSA BRANCH A/C NO C/A 1266

BALANCE PER BANK STATEMENT 15641.55
ADD: (DEPOSITS IN TRANSIT)
D/S DATE DESCRIPTION AMOUNT REMARK

SUB TOTAL
GRAND TOTAL 15641.55
 .41.
KALITY METAL PRODUCTS FACTORY
BANK RECONCILATION STATEMENT AS AT JUNE 30,2005

BANK :COMMERCAL BANK OF ETHIOPIA T/ HAIMANOT BRANCH A/C NO 3409

BALANCE PER BANK STATEMENT 1000
ADD: (DEPOSIT IN TRANSIT)
D/S DATE DESCRIPTION AMOUNT REMARK

GRAND TOTAL 1000

 .42.
KALITY METAL PRODUCTS FACTORY
BANK RECONCILATION STATEMENT AS AT JUNE 30,2005

BANK: COMMERCIAL BANK OF ETHIOPIA WEGAGEN BRANCH.

BALANCE PER BANK STATEMENT 1000
ADD: (DEPOSIT IN TRANSIT)
D/S DATE DESCRIPTION AMOUNT REMARK

GRAND TOTAL 1000

.43.
2 FIXED ASSETS Balance Additions Transfer / Balance
June 30,2004 Disposal June 30,2005
Birr Birr Birr
COST

Buildings 3193094 264737 3457831

Computers and Softwares 506438 49129 555567
Other Business Assets 28105060 326901 -159500 28272462
Fixed Asset In Transit 2190 431605 433795
Construction in Progress 254738 47048 -264737 37049
32061521 854684 -159500 32756705

DEPRECIATION

Buildings 2509020 94150 2603170

Computers and Softwares 269412.00 71539 340951
Other Business Assets 20910682 1472356 22383038
23689114 1638044 25327158

NET BOOK VALUE 8372407 7429546

Balance Balance
June 30 2005 June 30 2004
Acc't No Birr Birr
3.STOCKS

Finished Goods 1501 10835418.35 11328157

Work in Process 1502 361863.71 259484
Raw Materials 1513 24532659.15 24977377
Spare Parts 1515 5750703.75 3956124
Materials Imported for Resale 1516 2363371.08 1554595
Other Materials 247598.69 158696
44091614.73 42234433
Less Provision For Stock Obsolesence 2367925.54 1991249
Add Goods In Transit 1601 21811241.46 14617740
Sub Total 63534930.65 54860924
Less Provision for Goods Lost At Asseb 2505618.75 2505619
61029311.90 52355305
.5.
 KALITI METAL PRODUCTS FACTORY
POST CLOSING TRIAL BALANCE
AS AT JUNE 30 2005
TRIAL BALANCE
DESCRIPTION ACCT NO. DEBIT CREDIT
Cash on Hand 1101 722738
Cash At Bank 1104 11216316
Trade Debtors 1401 2288519
Provision For Doubtful Trade Debtors 1401-01 1041683
Other Trade Debtors 1403 599557
Provision For Other Trade DebtorsDoubtful 1403-01 599557
Prepayments 1404 985079
MTSC Contra Account 1404-04 169042
Staff Debtors 1405 144203
Sundary Debtors 1406 1248
Purchase And Trip Advance 1409 87416
Purchase Advance Petty Cash 1409-01 1523
Finished Goods Manuf. & Const Product. 1501 10835418
Work In Process 1502 361864
Direct Materials Imported 1513 24532659
Packing Materials Imported 1514 64718
Spare Parts Imported 1515 5750704
Stock Obsolescence 1515-00 2218970
Other Direct Materials Imported 1516 2363371
Stock Obsolecence 1516-00 148956
Stationary & Other Materials 1517 182881
Goods In Transit 1601 21811241
Provision For Goods In Transit 1601-00 2505619
Fixed Assets 1700 32285859
Accumulated Deprecations Fixed Assets 1700-00 25327158
Construction In Progress 1801 37049
Fixed Assets In Transit 1802 433796
Trade Creditors 2101 22902
Sundary Creditors 2102 3680165
Custmers Advance Payment 2104 2324505
Accrued Liabilities 2107 1406789
Tax Payables 2201 392961
Financial Obiligations 2301 15566059
Short Term Loan 2401 5903705
Long Term Loans 2611 17865303
State Capital 3101 9677919
Retained Profit 3201 3422234
TOTAL 103489843 103489843
.12.
 KALITI METAL PRODUCTS FACTORY
PURCHASE SCHEDULE
FOR THE YEAR ENDEED JUNE 30,2005
ORDERED QTY RECEIVED IN PRIVOUS YEAR RECEIVED DURING THE YEAR EXPECTED IN THE COMING YEAR

DESCRIPTIONS L/C NO. NO COILS NET WEIGHT NO COILS NET WEIGHT NO COILS NET WEIGHT VALUE NOCOILS NET WEIGHT VALUE

BLACK COILS
BLACK COILS KAL/023/022/2004 1200MT 169 1134870 7441611.87
BLACK COILS KAL/023/055/2004 1200MT 171 1165000 8199999.57
BLACK COILS KAL/023/073/2004 1440MT 267 1418847 9358105.31

TOTAL 3840MT 607 3718717 24999716.75

GALVANIZED COILS
GALVANIZED COILS KAL/023/022/2004 300MT 41 304400 2702312.64
GALVANIZED COILS KAL/023/055/2004 480MT 78 470575 3396681.59
GALVANIZED COILS KAL/023/078/2004 360MT 64 355175 2949811.03
GALVANIZED COILS KAL/023/087/2004 360MT 60 358605 3351526.75
GALVANIZED COILS KAL/023/094/2004 360MT 64 357650 3137542.62
GALVANIZED COILS KAL/023/0100/2004 300MT 48 297035 2753806.20

TOTAL 2160MT 355 2143440 18291680.83

SPAREPARTS & FITTINGS

VARIOUS TYPES OF BEARING KAL/023/044/2004 482 1063033.63
VARIOUS TYPES OF BEARING KAL/023/046/2004 1672 2018075.89
VARIOUS TYPES OF BEARING KAL/023/060/2004 141 130302.90
FITTINGS KAL/023/069/2004 943000 184290.00
TYRISTRER KAL/023/016/2004 6 13891.38
VARIOUS TYPES OF BALL BEARING KAL/023/076/2004 627 170583.82
VARIOUS TYPES OF BELT KAL/023/018/2004 66 9730.27
CERAMIC METAL TRIODE KAL/023/022/2004 1 185767.11
CIRCULAR HIGH SPEED KAL/023/035/2004 50 40648.00
CERAMIC METAL TRIODE KAL/023/003/2004 1 121904.25
TOTAL 946046 3938227.25

FIXED ASSETS
MINIBUS 12 SEAT KAL/023/054/2004 1 283544.24

TOTAL
 UNIT COST

6.5572372782786
7.0386262403434
6.5955704244362

6.72267256422

8.8775053876478
7.2181513892578
8.3052327162666
9.3460123255393
8.772662156
9.270982207484

8.53379652801
.35.
 KALITI METAL PRODUCTS FACTORY
PURCHASE OF FITTINGS
JUNE 30,2005
Item DESCRIPTIONS FITTING AND SPARET GRM QUANTITY VALUE
No. NO Date Pcs Kg
LOCAL PURCHASE
1 Ventilation Lock 002901 22/7/2004 1000 9000.00
2 Window Handle " " 412 24896.00
3 Galvanized Hooks and Washer 002902 26/7/2004 200000 110000.00
4 Secco Fitting 002905 28/7/2004 1000 17310.00
5 Normal Hinge 110X55 002912 4/8/2004 200 468.00
6 Door Lock "ZANI" Italy " " 30 2135.10
7 Hexagonal Bolt 14X70 " " 100 477.00
8 Hexagonal Bolt 14X80 " " 100 527.00
9 Hexagonal Bolt 16X80 " " 200 1194.00
10 Hexagonal Bolt 16X100 " " 200 1332.00
11 Normal Hinge 140X160 " " 200 468.00
12 Fitting 002924 18/8/2004 200 1731.00
13 Fitting " " 200 1731.00
14 Galvanized Bolt with Nuts (8X16) 002934 24/08/2004 10000 2951.90
15 Allen Bolt 16X90 002973 5/10/2005 100 1900.00
16 Allen Bolt 16X120 " " 150 3170.17
17 Hight Latch for Bottom Hinge with Plate 002998 14/10/2004 2500 20475.00
18 Left Hand Galvanized Butt Hinge Hunkle 003007 18/10/2004 2500 42475.00
19 Right Hand Galvanized butt Hinge Hunkle 2500 42475.00
20 Normal Hinges 110X55x1.5 003013 21/10/2004 350 654.50
21 Normal hinge 140X60X2.5 003031 1/11/2004 600 1836.00
22 Galvanized Bolt with Nuts (8X16) 003035 4/11/2004 20000 6832.20
23 Window Handle 002906 28/7/2004 88 5104.00
24 Hidden Locker 003126 17/1/2005 200 2138.00
25 Allen Bolt 10X30 003263 8/6/205 30 48.60
26 Allen Bolt 6X20 " " 50 26.00
27 Allen Bolt 6X30 " " 30 19.80
28 Allen Bolt 8X20 " " 50 48.00
29 Hexagonal Bolt 8X25 " " 30 12.60
30 Hexagonal Bolt 10X30 " " 20 16.60
31 Hexagonal Bolt 14X50 " " 30 74.40
32 Hexagonal Bolt 18X50 " " 20 85.00
33 Hexagonal Bolt 20X40 " " 20 101.00
34 Hexagonal Bolt 20X90 " " 30 270.00
35 L- Iron 28X 1.2 002077 16/8/2005 130 11589.50
36 Diformed Bar 002094 11/11/2004 20 594.80 4579.96
37 Diformed Bar 002135 28/11/2004 15 1846.80
38 Diformed Bar 002136 28/1/2005 35 665 4309.20
39 Diformed Bar " " 100 2965 19331.80
40 Diformed Bar " " 10 110 655.60
41 Diformed Bar " " 5 25 154.25
SUB TOTAL 243455 4359.80 344449.98
 KALITI METAL PRODUCTS FACTORY
PURCHASE OF FITTINGS
JUNE 30,2005
Item DESCRIPTIONS FITTING AND SPARET GRM QUANTITY VALUE
No. NO Date Pcs Kg

.36.
IMPORTED PURCHASE L\C KAL 23/69/2004
42 Galvanized Bolt with Nuts (8X16) 003030 1/11/2004 500000 165000.00
43 Asphalt Washer Ø 6 " " 323000 9690.00
44 Galvanized Nuts Ø 6 003033 3/11/2004 120000 9600.00
45 Round Bar 400 M/M 002104 4/1/2005 2 249035.02
46 Round Bar 300 M/M " " 3 273938.52
47 Round Bar 130 M/M " " 1 11759.06
48 Round Bar 150 M/M " " 1 13236.11
49 Round Steel Bar 280 M/M " " 2 116405.64
50 Round Steel Bar 190 M/M " " 1 49212.16
51 Round Steel Bar 150 M/M " " 2 60447.10
52 Round Steel Bar 90 M/M " " 2 22672.70
53 Round Steel Bar 60 M/M " " 2 10342.68
SUB TOTAL 943016 991338.99
GRAND TOTAL 1186471 4359.80 1335788.97
 KALITI METAL PRODUCTS FACTORY
PURCHASE OF FITTINGS
JUNE 30,2005
Item DESCRIPTIONS FITTING AND SPARET GRM QUANTITY VALUE
No. NO Date Pcs Kg

.37.
 KALITY METAL PRODUCTS FACTORY
DEPARTMENT PROFITABILITY ANALYSIS
JUNE 30,2005
ITEM NO. PRODUCTION DEPARTMENTS SALES COST OF OPERATING PROFIT/LOSS RANK
QTY.IN TONS VALUE IN BIRR SALES EXPENSE BEFORE TAX
1 C.S.C 1538 15039344.56 10028658.30 1662048.69 3348637.57 3
2 OME & SECCO 3815 37450864.34 24973290.56 4138821.33 8338752.45 1
3 EGA & PRESS 1819 16178775.88 10788463.18 1787971.09 3602341.61 2
4 STRUCTURAL 836 8980423.63 5988399.27 992456.90 1999567.46 4
5 IMPORTED SALES 2177.55pcs 408283.45 272254.90 45120.78 90907.77 6
6 OTHER INCOME 111980.00 5
7 EX-GRAINMILL 600000.00 -600000.00 7
GRAND TOTAL 8008 77966537.03 51990281.59 9216344.97 16871890.47

DEPARTEMENT PROFITABILITY
10000000.00
PROFIT (COSS)

8000000.00
6000000.00
4000000.00
2000000.00
0.00
-2000000.00 1 2 3 4 5 6 7
COST CENTERS
 PROFIT
CONTRIBUTION
19%
49%
21%
12%
1%
1%
-4%
100%

1-C.S.C
2-OME & SECCO
3-EGA & PRESS
4-STRUCTURAL
5-IMPORTED SALES
6-OTHER INCOME
7-EX-GRAIN MILL
 KALITI METAL PRODUCTS FACTORY
FINANCIAL RATIOS
FOR THE YEAR ENDED JUNE 30 2005 BUDGET
No Performance Indicators Measure Plan 2005 Actual 2005 Actual 2004 Remark

I) LIQUIDITY RATIOS
a) Current Ratio CA/CL 1.80 1.58 1.64 Time
b) Quick Ratio (CA-I)/CL 0.96 0.55 0.44 “
II) LEVERAGE RATIOS
a)      Total Debt/Total Assets TD/TA 78.00 81.69 80.23 %
b) Long Term Debit/Net Assets LTD/NA 58.00 57.69 57.93 “
c) Current Liabilities /Total Debt CL/TD 60.00 69.43 66.08 “

III) ASSET STRUCTURAL ANALYSIS

a) Current Asset/Total Assets CA/TA 84.00 89.62 86.80 “

b) Fixed Assets/ Total Assets FA/TA 15.59 10.38 13.20 “

c) Stock Inventory/Current Assets I/CA 47.00 65.08 73.09 “

d) Debtors Receivables/Current Assest DR/CA 6.00 3.58 4.62 “

IV) PROFITABILITY RATIOS

a) Gross Margin (S-CGS)/S 30.00 33.32 28.54 “
b) Profit Margin NIBT/S 8.00 21.64 14.50 “
c) Return on Total Assets (ROA) NIBT/TA 5.06 23.58 10.99 “
d) Profit/Capital NIBT/C 32.00 128.79 55.58 “
V) PRODUCTIVITY PQ/KG 11.29 21.12 11.54 “
M.Hr
 KALITY METAL PRODUCTS FACTORY
INPUT-OUTPUT RELATIONSHIP ANALYSIS
JUNE 30,2005
ITEM
NO. DESCRIPTIONS PLAN 2005 JUNE 30,2005 JUNE 30,2004
1 PRODUCTION DURING THE YEAR,2005 3900000 7725063 5048922
2 LESS: FG COUNTED UNDER PROD. BEGINNING -99734 -130092
3 ADD : FG COUNTED UNDER PROD. ENDING 45212 99734
4 ADD : WORK IN PROCESS ENDING 57238 167330
5 LESS: FG PRODUCED BY CONSTRUCTION -323888 -210980
6 ACTUAL PRODUCTION QUANTITIES 3900000 7403890 4974915
7 RAW MATERIAL CONSUMPTION DURING THE YEAR 2005 4050000 7691523 4853380
8 RAW MATERIAL COUNTED UNDER PROD. BEGINNING 6920.00 324094
9 RAW MATERIAL COUNTED UNDER PRODUCTION ENDING -46552.00 -6920
10 ACTUAL CONSUMPTION QUANTITIES 4050000 7651891 5170554
ACTUAL PRODUCTION QUANTITY=ACTUAL CONSUMPTION QUANTITY
12 ACTUAL CONSUMPTION QUANTITIES 4050000 7651891 4974915
13 LESS: ACTUAL PRODUCTION QUANTITIES -3900000 -7403890 -5235098
14 WASTAGE (SCRAP) 150000 248001 -260183
15 PERCENTAGE 4% 3% 5%
 KALITI METAL PRODUCTS FACTORY
Raw Materials,Finished Products & WIP Report

2005 2004
PARTICULARS KG VALUE KG VALUE
Raw Material Consumed During the Year -Black 5215259.00 30509265.15 3229709.00 14469096.32
'' '' '' '' - Galvanized 1777035.00 13505466.00 1782583.00 11889828.61
Sub Total 6992294.00 44014731.15 5012292.00 26358924.93

Raw Material Counted Under Production 46552.00 299177.70 6920.00 31001.60

Finished Product Counted Under Production 45211.78 340991.41 99734.16 600711.00

Finished Products-Work in Process 57237.99 361863.71 167330.12 259483.54

GRAND TOTAL 7141295.77 45016763.97 5286276.28 27250121.07

FINISHED GOODS PRODUCTION 7725062.63 5048922.39

FINISHED GOODS ENDING BALANCE 10418481.63 11328157.00
FINISHED GOODS PRODUCTION-UNDER CONSTRUCTION 323888

N0. of Production Workers Including Technical Workers 163

N0. of Hours to be Worked in a Month= 187
TOTAL ANNUAL MAN HOUR (163X187)X12= 365772

PRODUCTIVITY YIELD/HR = Production Quantity 7725063 21.12

Total hrs. Worked in a Year 365772