Unaudited FS - 2nd Quarter

Taufika Foods and Agro Industries Ltd.
Second Quarter
Financial Statement 2020-21
(Unaudited)
Taufika Foods and Agro Industries Limited
Statement of Financial Position (Un-audited)
As at 31 December 2020
Amount in Taka
PARTICULARS NOTES
31-Dec-20 30-Jun-20
ASSETS:
A. Non-current Assets 1,209,556,144 1,189,064,839
Property, Plant & Equipments 4.00 919,528,213 904,292,073
ROU Assets 4.01 256,378,719 271,982,626
Intangible Assets 5.00 618,256 738,640
Capital Work-in-progress 6.00 20,176,565 -
Investment 7.00 12,854,391 12,051,500
B. Current Assets 706,206,646 693,595,747

Inventories 8.00 295,192,063 264,612,631
Trade & Other Receivables 9.00 287,966,530 268,775,026
Advance, Deposits & Prepayments 10.00 87,533,407 55,633,223
Cash and Cash Equivalents 11.00 35,514,646 104,574,867
TOTAL ASSETS (A+B) 1,915,762,790 1,882,660,586
EQUITIES & LIABILITIES:
C. Shareholders' Equity 728,446,048 701,050,672

Share Capital 12.00 550,000,000 550,000,000
Retained Earnings 13.00 178,446,048 151,050,672
D. Non-current Liabilities 728,253,942 746,056,418

Deferred Tax Liability 14.00 65,661,117 64,656,247
Long-term Loan 15.00 451,953,836 462,409,397
Lease Liability 16.00 210,638,989 218,990,774
E. Current Liabilities 459,062,801 435,553,496

Current Portion of Long-term Loan 15.00 129,129,667 132,116,971
Current Portion of Lease Loan 16.00 83,581,955 56,658,657
Short-Term Loan 17.00 110,594,179 83,709,500
Trade & Other Payables 18.00 52,994,681 91,224,736
Liabilities for Expenses 19.00 12,850,529 15,846,626
Provision for WPPF 20.00 10,504,836 8,775,549
Provision for Income Tax 21.00 59,406,953 47,221,457
Total Equity & Liabilities: 1,915,762,790 1,882,660,586
Net Asset Value Per Share 13.24 12.75
The annexed notes from 1 to 37 form an integral part of these Financial Statements
Chairman Managing Director Director
Chief Financial Officer Company Secretary
Signed in terms of our separate report of even date annexed.

Place: Dhaka
Date: 27 January, 2021 1
Statement of Profit or Loss and other Comprehensive Income (Un-audited)
For the 2nd Quarter Ended 31 December 2020
Six Months Results 2nd Quarter Results

PARTICULARS NOTES July-Dec 2020 July-Dec 2019 Oct-Dec 2020 Oct-Dec 2019
Taka Taka Taka Taka
Sales 22.00 359,658,776 488,753,799 152,698,550 174,403,827

Less: Cost of Goods Sold 23.00 209,576,136 286,678,809 88,714,998 101,325,447
Gross Profit 150,082,640 202,074,990 63,983,553 73,078,380
Operating Expenses: 59,102,391 71,852,101 29,191,845 31,277,426

Administrative Expenses 24.00 6,887,459 12,034,026 3,362,201 3,417,606
Marketing Expenses 25.00 52,214,933 59,818,075 25,829,645 27,859,820
Operating income 90,980,249 130,222,889 34,791,707 41,800,954
Financial Expenses 51,034,984 80,159,692 25,024,555 39,465,853
Loan Interest 26.00 51,034,984 80,159,692 25,024,555 39,465,853

Profit before other income 39,945,265 50,063,197 9,767,152 2,335,101
Other Income 27.00 2,669,764 1,768,431 1,006,476 1,214,739
Net profit before WPPF 42,615,028 51,831,628 10,773,628 3,549,840
Provision for WPPF 20.00 2,029,287 2,468,173 513,030 169,040
Net Profit Before Tax 40,585,741 49,363,455 10,260,598 3,380,800
Income tax expense 13,190,366 17,277,209 3,334,694 1,183,280
Current Tax 21.00 12,185,496 15,602,548 2,764,753 298,542
Deferred Tax 14.00 1,004,870 1,674,661 569,942 884,738
Net Profit after Tax 27,395,375 32,086,246 6,925,904 2,197,520

Other Comprehensive Income
Total Comprehensive Income 27,395,375 32,086,246 6,925,904 2,197,520
Earnings per Share (Per value 28.00 0.50 0.58 0.13 0.04
Tk. 10)
Signed in terms of our separate report of even date annexed.
Place: Dhaka
Date: 27 January, 2021
2
Statement of Changes in Equity (Un-audited)
Amount in Taka
Share Money
Particulars Share Capital Retained Earnings Total
Deposit
Balance as on July 01, 2020 550,000,000 - 151,050,672 701,050,672
Share Capital - - - -
Share Money Deposit - - - -
Net Income for the period - - 27,395,375 27,395,375
Balance as on December 31, 2020 550,000,000 - 178,446,048 728,446,048

Statement of Changes in Equity
For the period from 1 July 2019 to 30 June 2020
Amount in Taka
Share Money
Particulars Share Capital Retained Earnings Total
Deposit
Balance as on July 01, 2019 65,450,000 270,000,000 89,363,632 424,813,632
Share Capital 484,550,000 (270,000,000) - 214,550,000
Prior year adjustments for IFRS 16 -
Prior year Office Rent adjustment 240,000 240,000
Prior year Interest Expence adjustment (106,571) (106,571)
Prior year depreciation adjustment (181,618) (181,618)
Prior year DT adjustment (317,832) (317,832)
Share Money Deposit - - - -
Net Income for the year - - 62,053,062 62,053,062
Balance as on June 30, 2020 550,000,000 - 151,050,672 701,050,672
Place: Dhaka
3
Statement of Cash Flows (Un-audited)
2nd Quarter Ended

PARTICULARS Note 31-Dec-20 31-Dec-19
Taka Taka
A. Cash Flows from Operating Activities :

Cash Received from Customers 340,467,272 439,230,400
Cash Received from other Sources 2,669,764 1,768,431
Cash Paid to Suppliers and Creditors (279,581,586) (326,569,861)
Cash Paid for Operating Expenses (17,920,147) (22,343,735)
Cash paid for Income Taxes (15,209,311) (5,951,070)
Net cash inflow/(outflow) from operating activities 30,425,992 86,134,165
B. Cash flow from Investing Activities:

Acquisition of Property, Pland & Equipment (59,485,101) (84,767,183)
Increase Investment (802,891) (12,000,000)
Capital Work in Progres (20,176,565) (29,788,638)
Net cash inflow/ (outflow) in Investing Activities (80,464,557) (126,555,821)
C. Cash flow from Financing Activities:

Paid up capital - 484,550,000
Share Money Deposit (270,000,000)
Bank Loan 13,441,815 34,006,594
Lease Loan 18,571,513 (86,434,430)
Inter Company Receivable - (2,310,000)
Finance Expense (51,034,984) (80,159,692)
Net cash inflow/(outflow) in financing activities (19,021,656) 79,652,473
D. Increase(Decrease) in Cash and Cash Equivalent (A+B+C) (69,060,221) 39,230,817

E. Opening of Cash and Cash Equivalent 104,574,867 58,831,003
F. Ending Cash and Cash Equivalent (D+E) 35,514,646 98,061,820
Net Operating Cash Flow Per Share (NOCFPS) 0.55 1.57
Place: Dhaka
4
Explanatory Notes to the Financial Statements
For the 2nd Quarter Ended December 31, 2020
1.00 Corporate History of the Reporting Entity

1.01 Legal Status of the Entity
Taufika Foods and Agro Industries Limited (The Company) was incorporated in Bangladesh as a Private Limited Company
under The Companies Act, 1994 vide Registration No. C-94700/11 dated August 07, 2011.Subsequently, the Company was
converted into a public limited Company dated 08 July 2019.
The Company started its commercial operation on January 02, 2016. Its Corporate Head Office located at Plot-80, Road-02,
Banani, Dhaka-1213 and Factory is located at Bashil, Kathali, Valuka, Mymensingh.
1.02 Corporate Business

The Company is an Ice-cream manufacturer and supplier in Bangladesh.
2.00 Basis of preparation, presentation and disclosures of financial statements
2.01 Statement of Compliance
The financial statements have been prepared under historical cost convention on a going concern basis following accrual basis
of accounting in accordance with the International Accounting Standards (IASs), International Financial Reporting Standards
(IFRSs), The Companies Act 1994 and Securities and Exchange Rules 1987.
2.02 Regulatory Compliances
The financial statements of the company under reporting have been prepared in accordance with Generally Accepted
Accounting Principles and Practice in Bangladesh in compliance with The Companies Act 1994, The Securities and Exchange
Rules 1987, The Listing Regulations of Dhaka Stock Exchange Ltd (DSE) & Chittagong Stock Exchange Ltd. (CSE),
International Accounting Standards (IAS) as adopted by The Institute of Chartered Accountants of Bangladesh (ICAB),
International Financial Reporting Standards (IFRS) as adopted by the The Institute of Chartered Accountants of Bangladesh
(ICAB) and other applicable rules and regulations.
2.03 Basis of measurement
These financial statements have been prepared under the ‘historical cost’ convention method.
2.04 Fundamental Accounting Concepts/ Assumption
The Financial Statements have been prepared based on Going Concern, Consistency and Accrual Concepts and such other
convention as required by IAS-1 for Fair Presentation of Financial Statements.
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2.05 Other regulatory compliances

In addition, the Company is also required to comply with the following major legal provisions:
The Income Tax Ordinance, 1984
The Income Tax Rules, 1984
The Value Added Tax Act, 1991
The Value Added Tax Rules, 1991
The Value Added Tax (Amendment) Act, 2012
The Value Added Tax (Amendment) Rules, 2012
The Customs Act 1969
The Company Act 1994
The Bangladesh Labour Act 2006, and
Bangladesh Labour (Amendment) Rules 2015
2.06 Presentation of Financial Statements
The presentation of these financial statements is in accordance with the guidelines provided by IAS 1 'Presentation of Financial
Statements'. The Financial Statement comprises
a) a statement of financial position;

b) a statement of profit or loss and other comprehensive income;
c) a statement of changes in equity;
d) a statement of cash flows; and
e) notes, comprising a summary of significant accounting policies and explanatory information.
2.07 Preparation and Presentation of Financial Statements of the Company
The Board of Directors are responsible for preparing and presenting the financial statements including adequate disclosures,
who approved and authorized for issue of this financial statements.
2.08 Going Concern
The company has adequate resources to continue in operation for the foreseeable future. For this reasons the directors continue
to adopt going concern basis in preparing the financial statements. The current credit facilities and resources of the company
provides sufficient fund to meet the present requirements of its existing business.
2.09 Reporting Period
The period of the financial statements covers period from July 01, 2020 to December 31, 2020.
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2.10 Provisions
In accordance with the guidelines as prescribed by IAS-37: Provisions, Contingent Liabilities and Contingent Assets,
provisions are recognized in the following situations:
a. when the company has an obligation ( legal or constructive) as a result of past events;
b. when it is probable that an outflow of resources embodying economic benefits will be required to settle the
obligation;
c. reliable and can be made of the amount of the obligation.
estimates
2.11 Events after the Reporting Period
In compliance with the requirements of IAS 10: Events After the Reporting Period, post statement of financial position events
that provide additional information about the company's position at the reporting date are reflected in the financial statements
and events after the reporting period there are adjusting events those are disclosed as follows:
i. The company did not declared any dividend in this period.

2.12 Functional and Presentational (Reporting) Currency
The financial statements are prepared and presented in Bangladesh Currency (Taka), Which is the company's functional
currency. All financial information presented have been rounded off to the nearest Taka except where indicated otherwise.
Figures in brackets indicated negative balance.
2.13 Comparative Information and Rearrangement Thereof

Comparative figures have been re-arranged wherever considered necessary to ensure better comparability with the current
period without causing any impact on the profit and value of assets and liabilities as reported in the financial statements.
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2.14 Principal Accounting Policies
The specific accounting policies selected and applied by the company’s directors for significant transactions and events that
have material effect in preparation and presentation of financial statements within the framework of IAS-1 “Presentation of
Financial Statements”, have been consistently applied throughout the year and were also consistent with those used in earlier
years.
For a proper understanding of the financial statements, these accounting policies are set out below in one place as prescribed by
the IAS-1 “Presentation of Financial Statements”. The recommendations of IAS-1 relating the format of financial statements
were also taken into full consideration for fair presentation:
IAS 1 Presentation of Financial Statements

IAS 2 Inventories
IAS 7 Statement of Cash Flows
IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
IAS 10 Events After the Reporting Period
IAS 12 Income Taxes
IAS 16 Property, Plant & Equipment
IAS 19 Employee Benefits
IAS 23 Borrowing Costs
IAS 24 Related Party Disclosures
IAS 33 Earnings Per Share
IAS 37 Provisions, Contingent Liabilities and Contingent Assets,
IAS 38 Intangible Assets
IAS 39 Financial Instruments: Recognition and Measurement
IFRS 01 First-time Adoption of International Financial Reporting Standards
IFRS 07 Financial Instruments: Disclosures
IFRS 13 Fair Value Measurement
IFRS 15 Revenue from Contracts with Customers
IFRS 16 Leases
3.00 Summary of Significant Accounting Policies

For a proper understanding of the financial statements , these accounting policies are set out below in one place as prescribed
by the IAS-1 "Presentation of Financial Statements". The recommendations of IAS-1 relating the format of financial statements
were also taken into full consideration for fair presentation.
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3.01 Property, Plant & Equipment (PPE)
i) Recognition of Property, Plant & Equipment

These are capitalized at cost of acquisition and revalued amount and subsequently stated at cost less accumulated depreciation.
The cost of acquisition comprises of purchase price, including import duties and non-refundable Taxes and any directly
attributable cost of bringing the assets to its working condition for its intended use. Expenditure incurred after the assets have
been put into operation, such as repairs and maintenance is normally charged off as revenue expenditure in the period in which
it is incurred. In situation where it can be clearly demonstrated that the expenditure has resulted in an increase in the future
economic benefit expected to be obtained from the use of the PPE, the expenditure is capitalized as an additional cost of the
PPE.
On retirement or otherwise disposal of PPE, the cost and accumulated depreciation are eliminated and any gain or loss on such
disposal is reflected in the income statement which is determined with reference to the net book value of PPE and the net sales
proceeds.
ii) Depreciation
Depreciation on all PPE other than Land & Land development has been charged when the PPE was available for use and is
computed using the Reducing balance method so as to write off the assets over their expected useful life. Office space is
depreciated as per lease contract.
After considering the useful life of PPE as per IAS-16, the annual depreciation rates have been applied as under which is
considered reasonable by the management.
Particulars 31 Dec-2020 30 June-2020
Land & Land Development 0% 0%
Building & Civil Works 5% 5%
Plant and Machinery 10% 10%
Furniture and Fixtures 10% 10%
Freezer 10% 10%
Office Equipment 10% 10%
Motor Vehicles 20% 20%
Computer Softwere 50% 50%
3.02 Capital Work-in-progress

Capital work-in-progress represents the cost incurred for acquisition and/or construction of property, plant and equipment that
were not ready for use at the end of the period 31 December 2020 and these are stated at cost.
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3.03 Impairment of assets

All Fixed assets have been reviewed and it was confrimed that no such fixed assets have been imparied during the year and for
this reasons, no provision has been made for impairment of assets.
3.04 Revenue Recognition

As per IFRS-15 “Revenue from Contracts with Customers”, Revenue is too recognized when it is probable that the economic
benefits associated with the transaction will flow to the organization and the amount of revenue can be measured reliably. The
Company recognizes revenue at the point of raising invoices to the customers/clients. Turnover is shown net of return and
discount. Sales revenue is recognized on accrual basis as and when goods are delivered.
Other Income
All other income is recognized when the Company’s right to receive such income has been reasonably determined and all
conditions precedent is satisfied.
3.05 Long Term Loan

Long Term loans are non-current liabilities arising from loans taken from different banks which are repayable within more than
one year.
3.06 Short term loan and bank overdraft
Short term loans are current liabilities arising from loans taken from different banks which are repayable within one year. Bank
overdrafts are repayable on demand which were taken to meet up the working capital rquirement.
3.07 Liability for expenses

Liabilities are recognized for amounts to be paid in future for goods and services, whether or not billed by the suppliers.
3.08 Advances, deposits and pre-payments

Advances, Deposits & Pre-payments are unsecured but considered good.
i) Advances
Advances are initially measured at cost. After initial recognition, advances are carried at cost less deductions, adjustments or
changes to other accounts heads.
ii) Deposits
Deposits are measured at payment value.
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iii) Prepayments
Prepayments are initially measured at cost. After initial recognition, prepayments are carried at cost less charge to profit and
loss accounts.
3.09 Inventories
Inventories comprise Raw Materials, Packaging Material, Finished Goods and Work in process. They are stated at the lower of
cost or net realizable value in accordance with IAS 2 “Inventories” after making due allowance for any obsolete or slow
moving item. The costs of inventories are assigned by using weighted average cost method. Net realizable value of Work in
Process is determined after deducting the estimated cost of completion and estimated cost necessary to make the sale from
estimated selling price.
3.10 Basis of valuation of inventories

Category Basis of Valuation
At the lower of cost and net realizable value. The cost includes
Finished products and work-in-process allocation of production overheads that relate to bringing the
inventories to their present condition and location.
Raw and packaging materials At the lower of cost and net realizable value.
Spares accessories & others At the lower of cost and net realizable value.
Goods in transit At cost including related charges.
3.11 Finance Costs:

Finance costs comprise interest expense on bank loan and other borrowings and are recognized in the income statement using
effective interest method.
3.12 Finance Income:

Finance income comprise of interest income receivable from FDR from Trust Bank Ltd. and Shimanto Bank Ltd. And also
interest received from bank current accounts.
3.13 Employees' benefit schemes
i) Defined contribution fund (Provident fund)

The Company maintains an equal contributory recognized provident fund @10% for its eligible permanent employees. The
provident fund is being considered as defined contribution plan being managed by a separate Board of Trustees.
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ii) Workers' profit participation and welfare fund

The Company recognizes a provision for workers' profit participation and welfare fund (WPPF) @ 5% of income before tax
and it has been managing, disbursing and investing as per provisions of the Bangladesh Labour (Amendment) Act, 2013. The
Company is making the payment within nine months at the end of the relevant financial year. 80% of the Fund is being paid to
eligible employees, 10% to Government Workers Welfare Foundation and remaining 10% to Taufika Foods and Agro
Industries Limited Employees Welfare Fund as per provision of Bangladesh Labour (Amendment) Act, 2013.
iii) Group insurance scheme

The Company operates a group insurance scheme for its permanent employees as per provision of the Bangladesh Labor
(Amendment) Rules, 2015. The permanent employees include full time permanent employees and workers of the Company.
Payment in this regard has been accounted for in the accompanying financial statements
3.14 Statement of Cash flows

Cash Flow Statement is prepared in accordance with IAS-7: Statement of Cash Flows under Direct Method as prescribed by
Bangladesh Securities and Exchange (BSEC) rule 1987
3.15 Cash and Cash Equivalents

Cash and cash equivalents consist of bank balances, cash in hand and cash equivalents like demand draft, pay orders etc in
hand that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.
3.16 Trade receivables

Trade receivables are recognized and stated at original invoiced amounts and carried at anticipated realizable values. Bad debts
are written off when it is established that they are irrecoverable. No bad debt incurred in the period.
3.17 Trade payables

Trade payables are stated at cost which approximates the fair value of the consideration to be paid for goods and services
received.
3.18 Provisions
All provision is recognized on the balance sheet date if, as a result of a past event. The company has a present legal or
constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefit will be required to
settle the obligation.
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3.19 Borrowings Costs

Financial Expenses (Borrowing Costs) incurred during the year was recognized as revenue expenses in accordance with IAS-
23 "Borrowings Costs". No borrowing cost incurred during the period.
3.20 Income Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the income statement, except to the
extent that it relates to items recognised other comprehensive income or directly in equity. In this case, the tax is recognised in
other comprehensive income or directly in equity, respectively.
i) Current Tax
Necessary provision for tax has been made as per Income Tax Ordinance 1984. Current tax is the expected tax payable on the
taxable income for the financial year, using tax rates enacted or subsequently enacted after the reporting date and any
adjustment to tax payable in respect of previous years. Provision for taxation is calculated on the basis of applicable current tax
rate and incompliance with Finance Act on the accounting profit made by the company as per ITO 1984 in compliance with
IAS-12 "Income Taxes".
ii) Deferred Tax

Deferred Tax assets and liabilities are measured using tax rates and tax laws that have been enacted or subsequently enacted at
the balance sheet date. The impact on the account of changes in the deferred tax assets and liabilities for the period ended
December 31, 2020 has been recognized in the statement of Profit or Loss and other comprehensive income as per IAS-12
"Income Taxes".
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3.21 Contingent Liabilities and Assets

Contingent liabilities are current or possible obligations, arising from past events and whose existence is due to the occurrence
or non- occurrence of one or more uncertain future events, which are not within the control of the company. In accordance with
IAS 37 provisions, contingent liabilities and contingent assets, there were no contingent liabilities and assets.
i. the company has transferred to the buyer the significant risks and rewards of ownership of the goods;
ii. the company retains neither continuing managerial involvement to the degree usually associated with ownership nor
effective control over the goods sold;
iii. the amount of revenue can be measured reliably;
iv. it is probable that the economic benefits associated with the transaction will flow to the company; and
v. the cost incurred or to be incurred in respect of the transaction can be measured reliably.
3.22 VAT
The Company's net sales is considered with 15% applicable VAT and 5% supplementary duty.
3.23 Statement of Changes in Equity

Statement of changes in equity is prepared in accordance with IAS-1 “Presentation of Financial Statements". This statement
reflects information about the increase or decrease in net assets or wealth.
3.24 Related party disclosures

The Company carried out a number of transactions with related parties in the normal course of business and on an arms’ length
basis. The information as required by IAS-24: "Related Party Disclosures" has been disclosed in a separate note to the financial
statements.
3.25 Materiality and aggregation

Each material class of similar items is presented separately in the financial statements. Items of dissimilar nature or function are
presented separately unless they are immaterial.
3.26 Segment information

The Company is primarily engaged in the manufacturing and selling of similar type of products. The Company's business is not
organized in such a way which may identify different products/ geographical components structurally. Hence segmentation
within a wide portfolio of products/ geographical location is not a part of the regular internally reported financial information to
the operating decision makers. Therefore, it is not possible to segment the Company's results by products/ geographic location
which might involve a high degree of estimation.
3.27 Earnings per Share

This has been calculated in compliance with the requirments of IAS 33: "Earnings Per share" by dividing the basic earings by
the number of ordinary shares outstandings during the year.
3.28 Basic Earning

This represents earnings for the period attributable to ordinary shareholders. As there was no preference dividend, minorty
interest or extra ordinary items, the net profit after tax has been considered as fully attributable to the ordinary shareholders.
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3.29 Changes in significant accounting policies - IFRS 16 Leases

3.30.01 IFRS 16 Leases
Nature and effect of Changes
Previously, TFAIL determined at contract inception whether an arrangement is or contains a lease under IFRIC 4. Under IFRS
16, TFAIL assesses whether a contract is or contains a lease based on the definition of a lease.
On transition to IFRS 16, TFAIL evaluated all types of contracts to assess whether a contract is or contains, a lease at the date
of initial application.
As a Lessee
As a lessee, TFAIL previously classified leases as operating or finance leases based on its assessment of whether the lease
transferred significantly all of the risks and rewards incidental to ownership of the underlying asset to TFAIL. Under IFRS 16,
TFAIL recognises right-of-use assets and lease liabilities for all leases.
(i) Leases classified as operating leases under IAS 17
At transition, lease liabilities were measured at the present value of the remaining lease payments, discounted at TFAIL’s
incremental borrowing rate as at 01 July 2020. Right-of-use assets are measured at an amount equal to the lease liability,
adjusted by the amount of any prepaid or accrued lease payments.
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Amount in Taka
31-Dec-20 2019-20
4.00 Proparty, Plant & Equipment
At Cost:
Opening Balance 1,200,619,949 978,537,603
Addition During the Year 59,425,101 222,082,346
Closing balance 1,260,045,050 1,200,619,949
Accumulated Depreciation:
Opening Balance 296,327,876 213,192,865
Closing Balance 340,516,837 296,327,876
Written Down Value 919,528,213 904,292,073
(Details of Property, Plant & Equipment are provided in the Annexure-A)
4.01 ROU Assets

At Cost:
Opening Balance 407,384,234 396,487,133
Addition During the Year - 10,897,101
Closing balance 407,384,234 407,384,234
Opening Balance 135,401,609 99,602,521
Closing Balance 151,005,515 135,401,609
Written Down Value 256,378,719 271,982,626
(Details of Property, Plant & Equipment are provided in the Annexure-A)
5.00 Intangible Assets

At Cost:
Opening Balance 2,696,433 2,385,996
Addition During the Year 60,000 310,437
Closing Balance 2,756,433 2,696,433
Addition During the Year 180,384 583,422
Closing Balance 2,138,177 1,957,793
Written Down Value 618,256 738,640
(Details Intangible Assets are provided in the Annexure-A)
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Amount in Taka
31-Dec-20 2019-20
6.00 Capital Work in Progress
Plant & Machinery

Opening -
Add: Addition During the period 21,000,000
Less: Transfer to Plant & Equipments (823,435)
20,176,565 -
7.00 Investment
FDR Investment 7.01 12,854,391 12,051,500
12,854,391 12,051,500
7.01 FDR Investment

Name of Bank FDR No. Tenure
Trust Bank 0022-0330059006 26.09.2020 10,747,500 10,000,000
Shimanto Bank 1001-343000092 17.01.2020 2,106,891 2,051,500
12,854,391 12,051,500
8.00 Inventories
Raw Materials 184,912,905 165,471,075
Work in Progress 16,860,315 15,544,814
Finished Goods 93,418,842 83,596,742
295,192,063 264,612,631
At the end of the period physical verification of Inventories were carried out.
9.00 Trade & Other Receivables

Trade Receivables 9.01 287,966,530 268,775,026
287,966,530 268,775,026
9.01 Trade Receivables
Bogra Territory 21,134,541 19,728,817
Khulna Territory 16,069,473 15,002,878
Barisal Territory 15,623,955 14,580,658
Rangpur Territory 19,838,813 18,505,332
Chittagong Territory 27,449,648 25,615,125
Cumilla Territory 27,266,316 25,446,856
Uttara Territory 27,411,017 25,566,396
Rampura Territory 34,872,777 32,561,804
Jatrabari Territory 17,415,764 16,263,307
Sylhet Territory 21,125,095 19,715,930
Faridpur Territory 16,798,041 15,676,718
Bosilla Territory 31,977,900 29,840,283
Cox's Bazar Territory 10,983,191 10,270,923
287,966,530 268,775,026
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Amount in Taka
31-Dec-20 2019-20
Ageing of Trade receivables
Due for 3 months 0.27 0.27 177,550,322 72,396,711
Due for 3 to 6 months 0.68 0.68 96,937,837 183,798,209
Due for above 6 months 0.05 0.05 13,478,372 12,580,107
287,966,530 268,775,026
Full information as per requirements of the Para 4 Part I, schedule XI, of the Companies Act, 1994 regarding Trade receivables as on December 31,
2020 are as follows:
Sl. Particulars 31 Dec, 2020 30 June, 2020
Receivables considered good in respect of which the company is fully
i.
secured.
Receivables considered good in respect of which the company holds no
ii. 287,966,530 268,775,026
security other than the debtor personal security.
iii. Receivable considered doubtful or bad.
Accounts Receivable due by any director or other officer of the company or

any of them either severally or jointly with any other person or debts due
iv.
firm or private companies respectively in which any director is a partner or a
director or a member to be separately stated.
Receivables due by companies under the same management to be disclosed

v.
with the names of the companies;
The maximum amount of receivable due by any director or other officer of

vi.
the company at any time during the year to be shown by way of a note.
i) Debt considered good and in respect of which the company can realize it fully.
ii) Debts considered good for which the company holds no security other than the debtors personal security
iii) Management considered the trade receivables are collectible and thus no provision had been made.
iv) There is no such trade receivables due by or to director or other officers of the company.
10.00 Advance, Deposits & Pre-payments

Advance 10.01 52,350,964 34,402,600
Deposit 10.02 33,896,442 19,882,424
Pre-payments 10.03 1,286,001 1,348,198
87,533,407 55,633,223
10.01 Advance
AIT & Source Tax 10.01.01 43,229,860 28,020,549
Advance to BSTI & Halal Sonod 317,483 760,567
Advance for Office Rent 1,150,000 1,150,000
Advance to Supplier 7,653,621 4,471,484
52,350,964 34,402,600
10.02 Deposit
L/C margin 10.02.01 33,896,442 19,882,424
33,896,442 19,882,424
18
Amount in Taka
31-Dec-20 2019-20
10.03 Pre-payments
Karnaphuli Insurance Co. Ltd. 748,773 896,891
Metlife Insurance Co. Ltd. 512,832 115,499
Eastern Insurance Co. Ltd. - 180,106
Sena Kalyan Insurance Co. Ltd. 24,396 155,702
1,286,001 1,348,198
10.01.01 AIT & Source Tax

Opening Balance 28,020,549 17,384,698
43,229,860 28,020,549
Adjustment During the Year - -
Closing Balance 43,229,860 28,020,549
10.02.01 L/C margin

Opening Balance 19,882,424 18,750,747
Addition during the year 30,108,186 19,882,424
Net Adjustment During the Year (16,094,168) (18,750,747)
Closing Balance 33,896,442 19,882,424
10.04 Disclosure as per Schedule-XI, Part -I, of The Companies Act, 1994
Advance, deposits & prepayments considered good & secured 87,533,407 55,633,223
Advance, deposit & prepayments considered Good without security
Advance, deposit & prepayments considered doubtful & bad
Advance, deposit & prepayments due by directors or other officers & staffs
Advance, deposit & prepayments due from companies under same

management
Maximum advance due by directors or officers & staffs at any time
Total 87,533,407 55,633,223
19
Amount in Taka
31-Dec-20 2019-20
11.00 Cash and Cash Equivalents

Cash in Hand 11.01 31,618,326 1,104,603
Cash at Bank 11.02 3,896,320 103,470,264
35,514,646 104,574,867
11.01 Cash in Hand

Factory Office 3,126,586 231,817
Corporate Office 2,452,516 278,897
Depot Office 26,039,224 593,889
31,618,326 1,104,603
11.02 Cash at Bank

Trust Bank Ltd CD 0022-0210012550 24,005 5,470,517
Pubali Bank Ltd CD 0565901028140 34,311 20,608,400
Premier Bank ltd CD 010411100078610 12,787 7,173,320
Prime Bank Ltd CD 2132113001637 87,300 17,231,344
Brac Bank Ltd CD 1507203439665001 15,648 16,254,007
Islami Bank Ltd CD 20501770100435601 46,497 16,922,410
Dutch Bangla Bank Ltd CD 1031100033118 9,935 10,083,742
Union Bank Ltd CD 0291010001239 25,305 1,507,926
Mercantile Bank Ltd CD 111311118966001 875,577 374,183
UCBL CD 541101000005430 10,157 43,948
NRB Bank CD 1022070063031 605,165 5,171,976
Shimanto Bank Limited CD 1001241000258 - 159,298
City Bank Ltd CD 1402538242001 9,450 9,450
AB Bank Ltd SND 4033-761383-430 711,016 327,108
Shimanto Bank Limited SND 1001441001020 198,737 1,756,996
Trust Bank Ltd SND 0022-0320000775 20,000 20,000
National Bank Limited CD 1106003604218 812,745 340,210
Dutch Bangla Bank Ltd CD 2811100002179 363,460 15,430
Shimanto Bank Limited SND 1003441000029 34,227 -
3,896,320 103,470,264
All bank balances are reconciled with bank statements and bank book and reconciled balance extracted here.
20
Amount in Taka
31-Dec-20 2019-20
12.00 Share Capital
12.01 Authorized Capital
(100,000,000 Ordinary shares of Tk.10 each) 1,000,000,000 1,000,000,000
12.02 Issued, Subscribed and Paid-up

55,000,000 shares of Tk.10 each 550,000,000 550,000,000
Shareholding Position is as follows:
Percentage of Shareholdings Number of Shares

Sl. No. Name of shareholders
31-Dec-20 2019-20 31-Dec-20 2019-20
1 Md. Ekramul Haque 66.36% 66.36% 36,500,000 36,500,000
2 Ms Shamima Nargis Haque 5.27% 5.27% 2,900,000 2,900,000
3 Taufika Engeeneering Limited 14.64% 14.64% 8,050,000 8,050,000
4 Muhsinina Taufika Ekram 3.73% 3.73% 2,050,000 2,050,000
5 Abu Taher Muhammed Amanullah 1.82% 1.82% 1,000,000 1,000,000
6 Md. Abdus Sultan 1.32% 1.32% 725,000 725,000
7 Zakir Hossain 0.18% 0.18% 100,000 100,000
8 Kazi Amdadul Haque 1.93% 1.93% 1,060,000 1,060,000
9 Rizvi Kaiser 0.02% 0.02% 10,000 10,000
10 Md. Saiful Islam Helaly 1.90% 1.90% 1,045,000 1,045,000
11 Md. Mizanur Rahman 0.01% 0.01% 5,000 5,000
12 Tahmina Chowdhury 0.37% 0.37% 205,000 205,000
13 Masuma Khatun 0.46% 0.46% 255,000 255,000
14 Hosne Ara Begum 1.99% 1.99% 1,095,000 1,095,000
Total 100% 100% 55,000,000 55,000,000
21
Amount in Taka
31-Dec-20 2019-20
13.00 Retained Earnings
Opening Balance 151,050,672 89,363,632
Add: Profit During the Period 27,395,375 62,053,062
Add: Prior year Office Rent adjustment 240,000
Less: Prior year Interest Expence adjustment (106,571)
Less: Prior year depreciation adjustment (181,618)
Less: Prior year DT adjustment (317,832)
Closing Balance 178,446,048 151,050,672
14.00 Deferred Tax Liability

Opening Balance 64,656,247 62,882,919
Add: During the Year 1,004,870 1,455,496
Closing Balance 65,661,117 64,656,247
As on 31 December, 2020
WDV as per Accounts 1,176,525,188 1,092,651,849
WDV as per 3rd Schedule 974,490,981 893,709,550
Temporary Difference 202,034,207 198,942,299
Applicable Tax Rate 32.50% 32.50%
Deferred Tax Liability 65,661,117 64,656,247

Deferred Tax Liability 65,661,117 64,656,247
15.00 Long -term Loan
Long-term Loan from AB Bank Limited 15.01 507,831,198 514,278,279

Long-term Loan from Shimanto Bank Limited 15.02 73,252,305 80,248,088
581,083,503 594,526,368
Current Portion Classification

Due within one year 129,129,667 132,116,971
Due after one year 451,953,836 462,409,397
581,083,503 594,526,368
22
Amount in Taka
31-Dec-20 2019-20
15.01 Loan from AB Bank Limited
A/C: 4005-788707-466 507,831,198 514,278,279
507,831,198 514,278,279
Nature of Security of Loans:

Particulars Details
Name of Bank & Financial Institute AB Bank Limited
Type of Facility Long Term Loan
Limit BDT 741,100,000
Repayment Monthly
Interest Rate 9.00%
Period of Loan 54 months
Expiry Date Wednesday, March 6, 2024
Renewal Status Renewed
i. 271.50 decimal Project Land and Buildings
Securities
ii. Personal guarantee of the directors
Purpose To retire import documents of L/Cs to import brand new capital machinery
15.02 Long-term Loan from Shimanto Bank Limited

1001741000052 15,933,764 17,754,865
1001741000061 2,181,836 2,430,147
1001741000070 2,812,986 3,143,141
1001741000089 5,820,219 6,488,188
1001741000098 1,953,163 2,181,376
1001741000105 1,719,796 1,920,341
1001741000114 16,555,770 17,971,098
1001741000123 15,454,122 16,588,706
1001741000141 5,211,942 5,596,796
1001741000150 5,608,708 6,173,430
73,252,305 80,248,088

Particulars Details
Name of Bank & Financial Institute Shimanto Bank Limited
Type of Facility Long Term Loan
Limit BDT TK 9.00 Crore
Repayment Monthly
Interest Rate 09% p.a with monthly rest or as revised from time to time by SMBL
Expiry Date 5 Years from the the date of 1st disbursement.
Renewal Status Renewed
Securities i. Joint Registration and comprehensive insurance of vehicles ii. Postdated Cheque covering
Purpose To purchase glass top deep freezer, storage box for cold room, pick up, Refrigerated van, aut
23
Amount in Taka
31-Dec-20 2019-20
16.00 Lease Liability
Lease Loan from Lankabangla 16.01 286,100,620 266,594,894

Office Space 16.02 8,120,325 9,054,537
294,220,944 275,649,431

294,220,944 275,649,431
16.01 Lease Loan from Lankabangla

0013 71400000004 -
0013 71400000006 10,436,735
0013 71400000007 1,230,357
0013 71400000009 1,777,261
0013 71400000010 -
0013 71400000011 737,207
0013 71400000013 -
0013 71400000014 -
0013 71400000015 355,819
0013 71400000016 -
0013 71400000018 3,641,058
0013 71400000019 3,762,046
0013 71400000020 1,025,273
0013 71400000021 3,106,744
0013 71400000022 2,502,362
0013 71400000023 878,435
0013 71400000024 16,788,518
0011 71400000052 35,200,619
0011 71400000054 8,028,060
0011 71400000056 7,921,690
0011 71400000059 1,706,610
0011 71400000073 34,266,327
0011 71400000086 42,329,756
001172200000061 90,900,016
0011 71400000131 138,993,486 -
0013 71400000025 14,445,702 -
0013 71400000026 34,779,853 -
0011 72200000070 97,881,579 -
286,100,620 266,594,894
24
Amount in Taka
31-Dec-20 2019-20
Particulars Details
Name of Bank & Financial Institute Lanka Bangla Finance Limited
Type of Facility Lease Finance
Limit BDT 316,200,725
Repayment Quarterly
Interest Rate 9.00%
Expiry Date June, 2022
Renewal Status N/A
i. Subsequent Charges/Hypothetication on all the Fixed Assets of TFAIL

ii. Ownership of Leased Assets
Securities
iii. Personal Guarantee of Directors
iv. Corporate Guarantee of Taufika Engineering Limited (TEL)
Purpose To procure Glass Top Deep Freezer and Try Cycle, Ref. Van & Cold Store
16.02 Lease Liability (Office Space)

Office Space 9,054,537 10,897,101
Less: Repaid During the year (934,212) (133,429)
(1,709,136)
8,120,325 9,054,537
8,120,325 9,054,537
17.00 Short-term Loan

Short-term Loan AB Bank 17.01 15,500,000 15,765,273
Short-term Loan Trust Bank 17.02 95,094,179 67,944,227
110,594,179 83,709,500
These loans are taken to finance import materials value and L/C related expenses. The average tenure of these facilities are normally 06 m
with renewal option.
17.01 Short-term Loan AB Bank

SOD 15,500,000 15,765,273
15,500,000 15,765,273
25
Amount in Taka
31-Dec-20 2019-20
17.02 Short-term Loan Trust Bank
Loan Against Trust Receipt (LTR) 84,849,814 67,786,752
Overdraft (Working Capital) 10,244,365 157,475
95,094,179 67,944,227
18.00 Trade & Other Payables
Trade Payables 18.01 10,373,225 12,494,356

Others Payables 18.02 42,621,456 78,730,381
52,994,681 91,224,736
18.01 Trade Payables

Bengal Flexipak 764,702 957,020
Bismillah Packaging & Printing 1,866,324 1,320,511
Siam Chemical 999,391 1,274,796
Noorani Agro & Food Complex Ltd 901,258 741,758
R M Poly & Packaging - 509,590
Jahanara Plastis Product 226,221 429,812
A K S Printing & Packaging 1,465,137 1,544,442
Famous Iberchem - 80,959
MM Plastic 75,790 485,740
Mais Industries Ltd 1,207,683 1,424,526
PremiaFlex Plastic Ltd 840,890 840,890
International Television Channel LTD. - 1,478,226
Maasranga Communications Ltd. 7,200 7,200
MMX advertising communication 172,920 96,417
Totalplus Industries Ltd - 904,700
RTR Traders 1,045,212 6,543
Opus Sign 492,429 353,049
Rivers Sign 308,070 38,179
10,373,225 12,494,356
This represents amount payable to suppliers of raw materials, packing materials and finished goods. All suppliers were paid on a regular b
Ageing of Trade Payables

Due for 3 months 8,817,242 10,620,202
Due for 3 to 6 months 1,037,323 1,249,436
Due for above 6 months 518,661 624,718
10,373,225 12,494,356
26
Amount in Taka
31-Dec-20 2019-20
18.02 Others Payables

Payable for Freezer 7,328,444 7,501,262
Upas-EBL Payable 14,943,825 17,155,346
VAT payable 20,349,187 54,073,773
42,621,456 78,730,381
19.00 Liabilities for Expenses
Audit Fees - 172,500

Electricity Bill Payable 763,444 1,592,283
Salary & Wages Payable 4,350,269 6,149,141
Payable for PF 7,583,816 7,174,456
Rent Payable - 258,963
TDS Payable 3,000 349,283
Remuneration Payable 150,000 150,000
12,850,529 15,846,626
All these payables are temporary in nature and repayable in demand. No interest/profit is charged for these payables. Its derived from
different types of service.
20.00 Provision for WPPF :

Add: Addition During the period 2,029,287 4,262,128
10,804,836 12,970,561
Less: Paid During the period (300,000) (4,195,012)
Closing Balance 10,504,836 8,775,549
The management of Taufika Foods and Agro Industries Limited have already taken all neccesary steps to maintain compliance and the
decision to deposit all amounts within a short time.
21.00 Provision for Income Tax
Opening Balance 47,221,457 25,487,463

Current Period Provision 12,185,496 21,733,994
Total provision 59,406,953 47,221,457
Adjustment During the year - -
Closing Balance 59,406,953 47,221,457
Tax Computation
Business Income 37,915,978 81,786,770
Other Income 2,669,764 3,455,781
Total Income 40,585,741 85,242,551
Acc. Dep 59,973,252 119,517,520
Tax Dep (63,065,160) (137,886,244)
Total Taxable Income 37,493,834 66,873,828
Applicable tax Rate 32.50% 32.50%
Current Year Tax 12,185,496 21,733,994
27
Taufik
Explan
For the
Amount in Taka
July-Dec 2020 July-Dec 2019
22.00 Sales
Gross Sales 434,287,972 590,170,212
Less: (VAT+SD) Expenses 74,629,196 101,416,413
Net Sales 359,658,776 488,753,799
23.00 Cost of Goods Sold

Raw Materials Consumed: Note- 23.01 158,148,900 241,403,851
Add: Factory Overhead Charges Note- 23.02 62,564,838 59,426,053
Cost of Production 220,713,738 300,829,904
Add: Opening Work in Process 15,544,814 4,587,500
236,258,552 305,417,404
Less: Closing Work in Process (16,860,315) (7,101,751)
Cost of Goods Manufactured 219,398,237 298,315,653
Add: Opening Stock of Finished Goods 83,596,742 69,163,731
Cost of Goods available for Sale 302,994,979 367,479,385
Less: Closing Stock of Finished Goods (93,418,842) (80,800,576)
Cost of Goods Sold 209,576,136 286,678,809
23.01 Raw Materials Consumed

The break-up of the amount is given bellow:
Opening Stock 165,471,075 145,175,926
Purchase During the period 177,590,730 266,145,290
Raw Materials available for Use 343,061,805 411,321,216
Less: Closing Stock (184,912,905) (169,917,366)
Raw Materials Consumed 158,148,900 241,403,851
23.02 Manufacturing Overhead

Electricity Bill 13,383,971 10,243,371
Fuel & Lubricants 5,590,280 5,834,029
Wages & Salary 18,358,568 18,562,806
Festival Bonus 1,207,310 2,211,967
Overtime and Other Allowance 939,263 1,820,177
Tour and Travles 621,499 917,408
Pool Car Expenses 94,911 66,679
Telecommunication Expenses(Tracking) - -
Factory Supplies 662,157 700,264
Loading & Unloading Expenses 83,006 75,768
Postage & Courier 14,805 3,800
Printing & Stationary 326,287 610,194
Food and Entertainment 404,489 231,706
Repair & Maintenance 857,101 996,245
Spare Parts 1,796,779 1,327,973
Insurance and Licenses Fees 2,729,501 1,507,699
Depreciation 15,494,911 14,315,967
62,564,838 59,426,053
28
Taufik
Explan
For the
Amount in Taka
24.00 Administrative Expenses

Salary & Allowance 3,308,681 3,576,054
Festival Bonus 442,271 680,416
Meeting Allowance 60,000 60,000
Provident Fund Expenses 555,039 480,097
Service Charge 113,778 56,889
Office rent - 2,772,750
Director Remuneration 900,000 1,950,000
Office Vehicles expense 328,218 812,861
Entertainment Expense 123,775 67,254
Vehicle Insurance & Others - -
Audit Fees 86,250 158,125
Telephone, Mobile & Internet Bill 103,338 389,258
Postage & Couriers 70,854 150,299
Printing & Stationery 96,584 249,472
Legal & Statutory Expenses 178,254 150,467
Repair Maintenance of Head office 143,974 168,422
Licenses Renewal Fees - -
Depreciation 376,443 311,663
6,887,459 12,034,026
25.00 Marketing & Selling Expenses

Salary & Allowance 4,612,422 6,562,327
Festival Bonus 474,630 949,259
Provident Fund Expenses 843,318 735,874
Fuel & Toll for Vehicles 301,774 1,903,850
TA/DA and Other Allowances 375,619 1,085,585
Repair Maintenance & Others Vehicles Exp 284,872 532,678
Tour and Travles 162,512 600,387
Postage & Couriers 190,717 116,594
Incentive and Commission 147,346 387,303
Event Management Expenses 85,986 404,721
Advertisement Expenses 633,839 6,050,116
Depreciation 44,101,898 40,489,381
52,214,933 59,818,075
29
Taufik
Explan
For the
Amount in Taka
26.00 Bank Interest
Bank Service Charges 398,965 479,539
Interest on Bank Loan 32,886,380 57,194,473
Interest on Lease Loan 17,749,639 22,485,680
51,034,984 80,159,692
Consistent with prior periods banks charges and others bank loan interest expenses are included as finance costs
27.00 Other Income

Scrap Sale 612,142 895,564
Rent Received against Freezer 1,094,572 706,855
Rent income from Robi Tower 40,000 49,200
Interest 923,049 116,812
2,669,764 1,768,431
30
Amount in Taka Amount in Taka

31-Dec-20 31-Dec-19 30-Sep-20
28.00 Earning per Share (EPS)
The Computation of EPS is given below:
Earning attributable to the Shareholders (net profit after tax) 27,395,375 32,086,246 20,469,472
Total number of Shares 55,000,000 55,000,000 55,000,000
Adjusted/Basic Earnings per Share (EPS)( Per value Tk. 10) 0.50 0.58 0.37
29.00 Net Asset Value (NAV) per Share

The Computation of NAV is given below:
Net Assets 728,446,048 671,451,735 721,520,144
Net Asset Value (NAV) per Share 13.24 12.21 13.12
Total number of shares

Paid-up-capital 550,000,000 550,000,000 550,000,000
Share money deposit - - -
Total 550,000,000 550,000,000 550,000,000
Number of shares (Per value Tk. 10) 55,000,000 55,000,000 55,000,000
30.00 Net Operating Cash Flows per Share (NOCFPS)

The Computation of NOCFPS is given below:
Net Cash Generated from Operating Activities 30,425,992 86,134,165 (13,104,418)
Net Operating Cash Flows per Share (NOCFPS) 0.55 1.57 (0.24)
31.00 Related Party Transactions:
The company has related party transactions as per IAS-24 "Related Party Disclosures".
Related party transactions are as follows:

Transaction
Nature of Opening Closing
Sl. Name of the Related Party Relationship during the Payment/Recei
transaction Balance Balance
period ved
Meeting
1 Ms. Shamima Nargis Haque Chairman - 10,000 10,000 -
Allowance
Remuneration and
2 Md. Ekramul Haque Managing Director Meeting 150,000 920,000 920,000 150,000
Allowance
Meeting
3 Muhsinina Taufika Ekram Director - 10,000 10,000 -
Allowance
Meeting
4 Imtiaz Lutful Baset FCMA, FCA Independent Director - 20,000 20,000 -
Allowance
32.00 Attendance Status of Board Meeting of Directors
During the period ended 31 December, 2020 there were two Board Meetings were held. The attendance status of all the
meetings is as follows:
Name of the Directors Designation Meeting held Attendance
Ms. Shamima Nargis Haque Chairman 4 2
Md. Ekramul Haque Managing Director 4 4
Kawsar Ahmed ( Nominee
Director of Taufika Engeeneering Director 4 4
Limited)
Muhsinina Taufika Ekram Director 4 2
Imtiaz Lutful Baset FCMA, FCA Independent Director 4 4
31
33.00 General:
All the figures in the financial statements represent Bangladeshi taka currency (BDT) rounded off to the nearest figure. The
comparative information has been disclosed of 2020-21 for all numerical information in the financial statements and also the
narrative and descriptive information as found relevant for understanding of the current years financial statements. To facilitate
comparison, certain relevance balances pertaining to the previous year have been rearranged or reclassified whenever
considered necessary to conform to current year presentation.
34.00 Disclosure as per requirement of Schedule XI, Part II of the Companies Act, 1994:
A. Disclosure as per requirement of Schedule XI, Part II, Note 5 of Para 3:
Employee position of the company as at 31 December, 2020:

Sales & Total
Salary (Monthly) Factory Head Office
Marketing Employees
Below BDT 6,000 - - - -
Above BDT 6,000 203 20 20 243
Total 203 20 20 243
B. Disclosure as per requirement of Schedule XI, Part II, Para 4:
Total
Remuneration
Name of Directors Designation Meeting allowance for the Period 1
July-2020 to 31
December-2020
Ms. Shamima Nargis Haque Chairman 10,000 -

Md. Ekramul Haque Managing Director 20,000 900,000
Kawsar Ahmed ( Nominee
Director of Taufika Engeeneering Director - -
Limited)
Muhsinina Taufika Ekram Director 10,000 -
Imtiaz Lutful Baset FCMA, FCA Independent Director 20,000
35.00 As per IAS- 24:

An entity shall disclose key management personnel compensation in total and for each of
(a) Short-term employee benefits - -
(b) Post-employee benefits - -
(c) Other long term benefits - -
(d) Termination benefits and - -
(e) Share- based payment - -
- -
36.00 Events after Reporting Period:
In compliance with the requirements of IAS 10: Events After the Reporting Period, post statement of financial position events
that provide additional information about the company's position at the reporting date are reflected in the financial statements
and events after the reporting period there are adjusting events those are disclosed as follows:
i. The company did not declared any dividend in this period.
37.00 Disclosure as per requirements of Schedule XI, Part-II., Para-3 of the Companies Act. 1994
Compliance
Requirements under condition No. status of
Disclosure
3(i)(a) The turnover Complied
3(i)(b) Commission paid to selling agents Not Applicable
3(i)(c ) Brokerage and discount of sales, other than the usual trade discount Not Applicable
3(i)(d)(i) The value of the raw materials consumed, giving item-wise as as possible Complied
3(i) (d)(ii) The opening and closing stocks of goods produced Complied
3(i)(e)In the case of trading companies, the purchase made and the opening and closing
Not Applicable
stocks
3(i)(f) In the case of Companies rendering or supplying services, the gross income derived
Not Applicable
from services rendered
3(i)(g) Opening and closing stocks, purchases, sales and consumption of raw materials with
value and quantity breakup for the Company, which falls under one or more categories i.e. Complied
manufacturing and/or trading
32
3(i)(h) In the case of other companies, the gross income derived under different heads Not Applicable
3(i)(i) Work-in-progress, which have been completed at the commencement and at the end
Complied
of the accounting period
3(i)(j) Provision for depreciation, renewals or diminution in value of fixed assets Complied
3(i)(k) Interest on the debenture paid or payable to the Managing Director, Managing
Not Applicable
Agent and the Manager
3(i)(l) Charge for income tax and other taxation on profits Complied
3(i)(m) Reserved for repayment of share capital and repayment of loans Not Applicable
3(i)(n)(i) Amount set aside or proposed to be set aside, to reserves, but not including
provisions made to meet any specific liability, contingency or commitment, know to exist Not Applicable
at the date as at which the balance sheet is made up.
3(i)(n)(ii) Amount withdrawn from above mentioned reserve Not Applicable
3(i)(o)(i) Amount set aside to provisions made for meeting specific liabilities,
Not Applicable
contingencies of commitments.
3(i)(o)(ii) Amount withdrawn from above mentioned provisions, as no longer required. Not Applicable
3(i)(p) Expenditure incurred on each of the following items, separately for each item:
Complied
(i) Consumption of stores and spare parts (ii) Power and Fuel (iii) Rent (iv) Repairs of
33
Schedule of Property, Plant & Equipment
As at 31 December 2020 (6 Months)
Property, Plant & Equipment Annexure - A
Cost Depreciation
Written Down
Particulars Balance as on 01- Addition during Balance as on 31- Rate of Dep. (%) Balance as on Charged during Balance as on Value as on
07-2020 the Period 12-2020 01-07-2020 the period 31-12-2020 31-12-2020
Land & Land Development 84,361,490 - 84,361,490 0% - - 84,361,490

Building & Civil Works 91,694,977 - 91,694,977 5% 18,214,428 1,825,532 20,039,960 71,655,017
Plant and Machinery 371,972,040 28,726,489 400,698,529 10% 112,072,902 13,880,458 125,953,360 274,745,169
Furniture and Fixtures 6,738,763 2,347,600 9,086,363 10% 1,593,103 340,773 1,933,876 7,152,487
Freezer 506,733,380 23,499,653 530,233,033 10% 100,794,048 20,809,807 121,603,855 408,629,178
Office Equipment 7,062,732 2,303,800 9,366,532 10% 1,080,589 376,767 1,457,356 7,909,176
Motor Vehicles 132,056,568 2,547,559 134,604,127 20% 62,572,806 6,955,624 69,528,430 65,075,697
Total as on 31.12.2020 1,200,619,949 59,425,101 1,260,045,050 296,327,876 44,188,961 340,516,837 919,528,213
Total as on 30.06.2020 978,537,603 222,082,346 1,200,619,949 213,192,865 83,135,011 296,327,876 904,292,073
Right of Use Assets

Cost Depreciation
Written Down
Plant and Machinery 4,079,499 - 4,079,499 10% 940,325 154,997 1,095,321 2,984,178
Freezer 324,745,500 - 324,745,500 10% 95,742,470 11,307,025 107,049,495 217,696,005
Motor Vehicles 67,662,134 - 67,662,134 20% 36,357,776 3,052,175 39,409,950 28,252,184
Office Space 10,897,101 - 10,897,101 20% 2,361,039 1,089,710 3,450,749 7,446,353
Total as on 31.12.2020 407,384,234 407,384,234 135,401,609 15,603,906 151,005,515 256,378,719
Total as on 30.06.2020 396,487,133 10,897,101 407,384,234 99,602,521 35,799,088 135,401,609 271,982,626
Intangible assets
Cost Depreciation
Written Down
Computer Softwere 2,696,433 60,000 2,756,433 50% 1,957,793 180,384 2,138,177 618,256
Total as on 31.12.2020 2,696,433 60,000 2,756,433 1,957,793 180,384 2,138,177 618,256
Total as on 30.06.2020 2,385,996 310,437 2,696,433 1,374,372 583,422 1,957,793 738,640

34
Total as on 31.12.2020 1,610,700,616 59,485,101 1,670,185,717 - 433,687,278 59,973,252 493,660,530 1,176,525,188
Total as on 30.06.2020 1,377,410,732 233,289,884 1,610,700,616 - 314,169,757 119,517,520 433,687,278 1,177,013,339
Amount in Taka Amount in Taka

Allocation of depreciation
31.12.2020 30.06.2020
Manufacturing Overhead 15,494,911 30,878,989 0.26
Administrative Expenses 376,443 750,193 0.01
Marketing & Selling Expenses 44,101,898 87,888,339 0.74
Total 59,973,252 119,517,520
35
Schedule of Property, Plant & Equipment
As at 30 June 2020
Property, Plant & Equipment Annexure - A
Cost Depreciation
Written Down
07-2019 the year 06-2020 01-07-2019 the year 30-06-2020 30-06-2020
Land & Land Development 84,361,490 - 84,361,490 0% - - 84,361,490
Building & Civil Works 87,619,117 4,075,860 91,694,977 5% 14,454,290 3,760,138 18,214,428 73,480,549
Plant and Machinery 322,941,438 49,030,602 371,972,040 10% 85,919,143 26,153,760 112,072,902 259,899,138
Furniture and Fixtures 4,523,478 2,215,285 6,738,763 10% 1,144,434 448,669 1,593,103 5,145,660
Freezer 359,260,070 147,473,310 506,733,380 10% 63,882,640 36,911,408 100,794,048 405,939,331
Office Equipment 3,659,662 3,403,070 7,062,732 10% 604,966 475,623 1,080,589 5,982,143
Motor Vehicles 116,172,349 15,884,219 132,056,568 20% 47,187,393 15,385,413 62,572,806 69,483,762
Total as on 30.06.2020 978,537,603 222,082,346 1,200,619,949 213,192,865 83,135,011 296,327,876 904,292,073
Right of Use Assets

Cost Depreciation
Written Down
07-2019 the year 06-2020 01-07-2019 the year 30-06-2020 30-06-2020
Plant and Machinery 4,079,499 4,079,499 10% 591,527 348,797 940,325 3,139,174
Freezer 324,745,500 324,745,500 10% 70,297,689 25,444,781 95,742,470 229,003,030
Motor Vehicles 67,662,134 67,662,134 20% 28,531,686 7,826,090 36,357,776 31,304,358
Office Space 10,897,101 10,897,101 20% 181,618 2,179,420 2,361,039 8,536,063
Total as on 30.06.2020 396,487,133 10,897,101 407,384,234 99,602,521 35,799,088 135,401,609 271,982,626
Intangible assets
Cost Depreciation
Written Down
07-2019 the year 06-2020 01-07-2019 the year 30-06-2020 30-06-2020
Computer Softwere 2,385,996 310,437 2,696,433 50% 1,374,372 583,422 1,957,793 738,640
Total as on 30.06.2020 2,385,996 310,437 2,696,433 1,374,372 583,422 1,957,793 738,640
Grand Total as on 30.06.2020 1,377,410,732 233,289,884 1,610,700,616 314,169,757 119,517,520 433,687,278 1,177,013,339
36

Unaudited FS - 2nd Quarter

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Taufika Foods and Agro Industries Ltd.

B. Current Assets 706,206,646 693,595,747

TOTAL ASSETS (A+B) 1,915,762,790 1,882,660,586

EQUITIES & LIABILITIES:

C. Shareholders' Equity 728,446,048 701,050,672

D. Non-current Liabilities 728,253,942 746,056,418

E. Current Liabilities 459,062,801 435,553,496

Total Equity & Liabilities: 1,915,762,790 1,882,660,586

Net Asset Value Per Share 13.24 12.75

Chairman Managing Director Director

Chief Financial Officer Company Secretary

Signed in terms of our separate report of even date annexed.

Six Months Results 2nd Quarter Results

Sales 22.00 359,658,776 488,753,799 152,698,550 174,403,827

Operating Expenses: 59,102,391 71,852,101 29,191,845 31,277,426

Loan Interest 26.00 51,034,984 80,159,692 25,024,555 39,465,853

Net Profit after Tax 27,395,375 32,086,246 6,925,904 2,197,520

Chairman Managing Director Director

Chief Financial Officer Company Secretary

Signed in terms of our separate report of even date annexed.

Taufika Foods and Agro Industries Limited

Chairman Managing Director Director

Chief Financial Officer Company Secretary

2nd Quarter Ended

A. Cash Flows from Operating Activities :

B. Cash flow from Investing Activities:

C. Cash flow from Financing Activities:

D. Increase(Decrease) in Cash and Cash Equivalent (A+B+C) (69,060,221) 39,230,817

Net Operating Cash Flow Per Share (NOCFPS) 0.55 1.57

Chairman Managing Director Director

Chief Financial Officer Company Secretary

1.00 Corporate History of the Reporting Entity

1.02 Corporate Business

2.01 Statement of Compliance

2.02 Regulatory Compliances

2.03 Basis of measurement

2.05 Other regulatory compliances

2.06 Presentation of Financial Statements

a) a statement of financial position;

2.07 Preparation and Presentation of Financial Statements of the Company

2.08 Going Concern

2.09 Reporting Period

2.11 Events after the Reporting Period

i. The company did not declared any dividend in this period.

Figures in brackets indicated negative balance.

2.13 Comparative Information and Rearrangement Thereof

2.14 Principal Accounting Policies

IAS 1 Presentation of Financial Statements

3.00 Summary of Significant Accounting Policies

3.01 Property, Plant & Equipment (PPE)

i) Recognition of Property, Plant & Equipment

3.02 Capital Work-in-progress

3.03 Impairment of assets

3.04 Revenue Recognition

3.05 Long Term Loan

3.06 Short term loan and bank overdraft

3.07 Liability for expenses

3.08 Advances, deposits and pre-payments

3.10 Basis of valuation of inventories