 |
MUSCAT
THREAD MILLS SAOG
Statement
of financial position
As
at 31 December 2009
|
Assets: |
|
2009 |
|
2008 |
|
|
|
RO |
|
RO |
|
Non-current assets |
|
|
|
|
|
Property, plant and
equipment |
|
1,024,537 |
|
1,060,171 |
|
Total non-current assets |
|
1,024,537 |
|
1,060,171 |
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
Inventories |
|
628,292 |
|
651,496 |
|
Trade and other receivables |
|
584,288 |
|
674,401 |
|
Amount due from related
parties |
|
587 |
|
171 |
|
Cash in hand and at bank |
|
19,837 |
|
17,584 |
|
Total current assets |
|
1,233,004 |
|
1,343,652 |
|
Total assets |
|
2,257,541 |
|
2,403,823 |
|
|
|
|
|
|
|
Equity and liabilities: |
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
Share capital |
|
805,000 |
|
700,000 |
|
Legal reserve |
|
64,089 |
|
58,341 |
|
Retained earnings |
|
131,241 |
|
79,508 |
|
Proposed dividend |
|
- |
|
105,000 |
|
Total equity |
|
1,000,330 |
|
942,849 |
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
Non-current liabilities |
|
|
|
|
|
Term loan |
|
285,648 |
|
445,010 |
|
Deferred Government Grant |
|
46,871 |
|
57,021 |
|
Deferred tax liability |
|
14,764 |
|
23,704 |
|
End of service benefits |
|
38,238 |
|
33,557 |
|
Total non-current
liabilities |
|
385,521 |
|
559,292 |
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
Current portion of term loan |
|
253,680 |
|
259,865 |
|
Short term bank borrowings |
|
336,015 |
|
393,048 |
|
Trade and other payables |
|
281,995 |
|
242,640 |
|
Amount due to related
parties |
|
- |
|
6,129 |
|
Total current liabilities |
|
871,690 |
|
901,682 |
|
Total liabilities |
|
1,257,211 |
|
1,460,974 |
|
Total equity and
liabilities |
|
2,257,541 |
|
2,403,823 |
|
Net assets per share |
|
0.124 |
|
0.135 |
MUSCAT
THREAD MILLS SAOG
Statement
of comprehensive income
For
the year ended 31 December 2009
|
|
|
2009 |
|
2008 |
|
|
|
RO |
|
RO |
|
|
|
|
|
|
|
Revenue |
|
2,662,810 |
|
2,865,989 |
|
Cost of sales |
|
(2,132,088) |
|
(2,080,008) |
|
|
|
|
|
|
|
Gross profit |
|
530,722 |
|
785,981 |
|
|
|
|
|
|
|
Other income |
|
3,585 |
|
8,339 |
|
Distribution expenses |
|
(61,741) |
|
(73,862) |
|
Administrative and general
expenses |
|
(267,833) |
|
(301,375) |
|
Impairment allowance for
slow moving inventories |
|
(32,585) |
|
(36,000) |
|
Impairment allowance for
doubtful trade receivables |
|
(24,000) |
|
(76,000) |
|
Profit from operations |
|
148,148 |
|
307,083 |
|
|
|
|
|
|
|
Finance expenses |
|
(86,656) |
|
(82,491) |
|
|
|
|
|
|
|
Profit for the year
before income tax |
|
61,492 |
|
224,592 |
|
|
|
|
|
|
|
Income tax expense |
|
(4,011) |
|
(22,799) |
|
|
|
|
|
|
|
Net profit for the year |
|
57,481 |
|
201,793 |
|
|
|
|
|
|
|
Other comprehensive income |
|
- |
|
- |
|
|
|
|
|
|
|
Total comprehensive
income for the year |
|
57,481 |
|
201,793 |
|
|
|
|
|
|
|
Basic earnings per share |
|
0.0071 |
|
0.0251 |
|
