वित्तीय प्रतिवेदन जानकारी

Gopal B. Thapa & Associates

Registered Auditor

Pan no. 300393853

COP No: 514

INDEPENDENT AUDITORS' REPORT

TO THE PROPRIETOR OF PANDAVKHANI KIRANA STORE

We have audited the accompanying financial statements of **PANDAVKHANI KIRANA STORE** which comprise the Balance Sheet as at 31st Ashad 2081 (15 July 2024) and the related Profit & Loss A/c, and Statement of Cash Flows for the year ended on that date.

Management's Responsibility for the financial Statements: Management of the Firm is responsible for the preparation and fair presentation of these financial Statements in accordance with Nepal Accounting Standards. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error, selecting and applying appropriate accounting policies, and making accounting estimates that are reasonable in the circumstances.

Auditor's Responsibility: Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Nepal Standards on Auditing. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our professional judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

Our opinion:

In our opinion, the accompanying financial statements give a true and fair view, in all material respects the financial position of PANDAVKHANI KIRANA STORE at at Ashad 31, 2081(July 15, 2024)and of the results of its financial performance and its cash flows for the year then ended and are in accordance with Nepal Accounting Standards.

For Gopal B. Thapa & Associates

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RA Gopal Bahadur Thapa

Date: 2081.10.02

Pandavkhani Kirana Store
Balancesheet as on 31 Asadh 2081

CAPITAL & LIABILITY

ParticularsF.Y. 080/081


ASSETS

ParticularsF.Y. 080/081

Pandavkhani Kirana Store
Profit and Loss Account for the year ended 31st Asadh 2081

ParticularsF.Y. 080/081

Pandavkhani Kirana Store
Property, Plant & Equipment Details

S. N. Particular Rate Previous Year Addition During the Year Sale/Disposal Depreciation Base for the year Depreciation for the year Net Book Value Unabsorbed Addition Closing Depn Base
Up to Poush Magh to Chaitra Baisakh to Asadh

Pandavkhani Kirana Store
Cash Flow Statement for the year ended 31st Asadh 2081

ParticularsF.Y. 080/081

Pandavkhani Kirana Store
Schedules forming part of the Financial Statements

Note: The following schedules are integral part of this financial statement.

Schedule –1: Sales

ParticularsAmount (NPR)

Schedule –2: Purchases

ParticularsAmount (NPR)

Pandavkhani Kirana Store
Significant Accounting Policies & Notes to the Accounts

The Firm: Pandavkhani Kirana Store registered business deals in groceries items.

Significant Accounting Policies:

a. Accounting Conventions: The financial statements are prepared under the historical cost conventions on an accrual concept unless otherwise stated and are in accordance with Nepal Accounting Standards and others as applicable laws prevalent in Nepal.

b. Use of Estimates: The preparation of financial statements in conformity with generally accepted accounting principles requires estimates and assumptions to be made that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities on the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Differences between actual results and estimates are recognized in the periods in which the results are known / materialized.

c. Going Concern: The financial statements are prepared on the assumption that the proprietorship firm is a going concern.

d. Comparative Information: The accounting policies have been consistently applied by the proprietorship firm and are consistent with those used in the previous year.

e. Revenue Recognition: Revenue is recognized to the extent that it is probable that the economic benefits will flow to the proprietorship firm and the revenue & associated costs incurred or to be incurred can be reliably measured. Revenue is also recognized when significant risks and rewards of ownership has transferred to the buyers.

Notes to the Accounts:

**1. Fixed Assets:** Fixed assets are valued at cost of purchases plus the expenses which are incidental to such purchases. Depreciation on fixed assets is provided at diminishing balance value method at the rates prescribed by the Income Tax. The rates of depreciation applied is 25% on Furniture.

**2. Cash and Cash Equivalent:** Cash and cash equivalent comprise of cash balances and deposits in banks in Nepalese currency. The positive cash flow indicates a strong liquidity position.

**3. Sundry Debtors and other Receivables:** The amounts recoverable from sundry debtors are stated at book value and all outstanding balances are considered good. Other receivables classified under loans and advances are stated at book value.

**4. Income Taxes:** Provision for current tax is made with reference to profit for the financial year based on the provisions of Income Tax Act, 2058. A positive net profit for the year indicates a potential tax liability.

**5. Sales:** Sales are recognised on rendering service to the party & are accounted for at net of value added tax.

6. The presentation currency for the Financial statement is Nepalese Rupees (NPR).

Proprietor

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For Gopal B. Thapa & Associates

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RA Gopal Bahadur Thapa

Registered Auditor

Firm No. 6049