Annual Financial Statement

Erlinda C.
San Esteban
CERTIFIED PUBLIC ACCOUNTANT
MARY NANCY A. PALAPAG

Proprietress
PATIS DIGITAL PRINTING SERVICES
298 Mc Arthur Highway, Biñang 1st,
Bocaue Bulacan 3018
INDEPENDENT AUDITOR'S REPORT
I have audited the accompanying financial statement of PATIS DIGITAL PRINTING SERVICES, which
comprise the balance sheet as of March 21, 2024 and the income statements. Statement of changes in
equity for the years then ended, and notes to financial statements comprise of a summary of significant
accounting policies and other explanatory notes.
The Management is responsible for the preparation of fair presentation of these financial statement in
accordance with Philippine Financial Reporting Standards. This responsibility includes: designing,
implementing and maintaining internal control relevant to the preparation and fair presentation of financial
statements tat are free fro material misstatement, whether due to fraud or errors, selecting and applying
appropriate accounting policies and making accounting estimates that are reasonable in the circumstances.
My responsibility is to express an opinion on these financial statements based on my audits. I conducted

my audit in accordance with auditing standards generally accepted in the Philippines. Those standards
require that I plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.
An audit includes performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements of PATIS DIGITAL PRINTING SERVICES, as of March 21, 2024. The procedures
selected depend on the auditor's judgment including the assessment of the risks of material misstatement
of the financial statement in order to design audit procedures that are appropriate in the circumstances, but
not for the purpose of expressing an opinion on the effectiveness of accounting policies used and the
reasonableness of accounting estimates made by the management as well as evaluating the overall
presentation of the financial statement. I believe that my audit evidence I have obtained is sufficient and
appropriate to a basis for my audit opinion.
In my opinion, the accompanying financial statement presents fairly the financial position of PATIS
DIGITAL PRINTING SERVICES, as of August 21, 2024, but unfortunately resulting its operation to losses, for
the year then ended in conformity with generally accepted accounting principles applied on a consistent
basis with that of the preceding years.
ERLINDA C. SAN ESTEBAN

SEC Accreditation No. PA-C 588-A
Valid until April 01, 2025
BIR Accreditation No. 07-000360-1-2012
Valid Until October 14, 2023
PRC-BOA Registration No. 1434
Until August 24, 2023
CPA 101-371-296-000
PTR No. 7254965
Issued April 01, 2024
Until April 01, 2025
STATEMENT OF MANAGEMENT'S RESPONSIBILITY
FOR ANNUAL INCOME TAX RETURN
The Management of PATIS DIGITAL PRINTING SERVICES is responsible for all information and
representation contained in the financial statement for the year ended September 29, 2023 The financial
statements have been prepared in conformity with the Philippine Financial Reporting Standards and
reflect amounts that are based on best estimates and informed judgment of management with an
appropriate consideration to materiality.
Likewise Management maintains a system of accounting and reporting which provides for the
necessary internal controls to ensure that transactions are property authorized and recorded, assets are
safeguarded against unauthorized use or disposition, and liabilities are recognized.
The Management reviews the aforementioned financial statements with ERLINDA C. SAN SEBASTIAN,
CPA the independent auditor and appointed to examine the financial statements of the business in
accordance with Philippine Standards of Auditing has expressed its opinion on the fairness of
presentation upon completion of such examination in this report.
In this regard, the Management affirms that the attached audited financial statements for the year
ended March 21, 2024 are in accordance with the books and records of PATIS DIGITAL PRINTING
SERVICES, complete and correct in all material aspect. Furthermore, management affirms that,
a. The Annual Income Tax Return has been prepared in accordance with the provision of the
National Internal Revenue Code, as amended, pertinent tax regulations, and other issuance of the Bureau
of Internal Revenue;
b. Any disparity of figures in the submitted reports arising from the preparation of financial
statements pursuant to financial accounting standards and the presentation of the income tax returns
pursuant to tax accounting rules, has been reported as reconciling items and maintained in the company
and books and records in accordance with the requirements of Revenue Regulations No. 8-2007 and
other
c. PATIS DIGITAL PRINTING SERVICES, has filed all applicable tax returns, reports and
statements required to be filed under Philippine tax laws for the reporting period, taxes and other
impositions shown thereon to be due and payable have been paid for the reporting period, except
those contested
in good faith.

By:
MARY NANCY A. PALAPAG

Proprietress
298 Mc Arthur Highway, Biñang 1st, Bocaue Bulacan 3018
BALANCE SHEET
For the Year Ended December 31, 2023
SALES P 2,269,295.00
Cash on Hand/in Bank P 1,572,549.00

Accounts Receivables 247,400.00
Prepaid Accounts 449,346.00
TOTAL CURRENT ASSETS P 2,269,295.00
FIXED ASSETS
Real Property P 1,500,000.00

Service Vehicles 1,200,000.00
Facilities & Equipment 200,000.00
Fumiture & Fixtures 180,500.00
Total P 3,080,500.00
Less: Accum. Dep. 150,000.00
TOTAL FIXED ASSETS 2,793,000.00
TOTAL ASSETS P 5,062,295.00
LIABILITIES AND EQUITY
LIABILITIES
Accounts Payables
P 112,385.00
CAPITAL
Beginning Capital P 3,315,060.00

Add: Net Income 2,067,082.00
Total 5,382,142.00
Less: Withdrawal P 898,691.00
TOTAL CAPITAL P 4,483,451.00
P 5,062,295.00
TOTAL LIABILITIES AND CAPITAL
298 Mc Arthur Highway, Biñang 1st, Bocaue Bulacan 3018
INCOME STATEMENT
For the Year Ended December 31, 2023
Sales P 2,363,625.00
Less: Cost of Sales
Beginning Inventory P 480,697.00

Add: Purchases 717,563.00
Total P 1,198,260.00
Less: Ending Inventory 563,247.00 P 635,013.00
Gross Income
Less: Operating Expenses:
Salaries and Wages P 398,606.00

SSS, ECC & Philhealth 52,638.00
Taxes & Licenses 12,265.00
Communication, Light & Water 78,693.00
Office Supplies 122,301.00
Gasoline & Oil 33,036.00
Repair and Maintenance 22,174.00
Transportation Expense 7,968.00
Insurance Premium 45,752.00
Professional Fees 10,980.00
Depreciation Expense 5,450.00
Miscellaneous 4,749.00
Total Operating Expenses P 794,612.00
NET INCOME P 934,000.00

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Erlinda C.

MARY NANCY A. PALAPAG

INDEPENDENT AUDITOR'S REPORT

My responsibility is to express an opinion on these financial statements based on my audits. I conducted

ERLINDA C. SAN ESTEBAN

PATIS DIGITAL PRINTING SERVICES

MARY NANCY A. PALAPAG

Cash on Hand/in Bank P 1,572,549.00

Real Property P 1,500,000.00

TOTAL ASSETS P 5,062,295.00

LIABILITIES AND EQUITY

Beginning Capital P 3,315,060.00

TOTAL CAPITAL P 4,483,451.00

Less: Cost of Sales

Beginning Inventory P 480,697.00

Less: Operating Expenses:

Salaries and Wages P 398,606.00

NET INCOME P 934,000.00

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