S.M. ZAKARIA & CO. CHARTERED ACCOUNTANTS. AUDIT REPORT AND ACCOUNTS OF Environment Council Bangladesh FOR THE YEAR ENDED JUNE 30, 2013

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1 S.M. ZAKARIA & CO. CHARTERED ACCOUNTANTS AUDIT REPORT AND ACCOUNTS OF Environment Council Bangladesh FOR THE YEAR ENDED JUNE 30, 2013 Head Office, Sobahan Mansion (3 rd Floor) 46/1, Puran Paltan, Dhaka1000, Phone: ,

2 S.M. ZAKARIA & CO. CHARTERED ACCOUNTANTS Sobahan Mansion (3 rd Floor) 46/1, Purana Paltan,Dhaka1000. Phone : , , szakaria@bdcom.com INDEPENDENT AUDITOR REPORT TO THE MEMBERS OF GENERAL BODY OF ENVIRONMENT COUNCIL BANGLADESH We have audited the accompanying Financial Statement of Environment Council Bangladesh which comprise the Statement of Financial Position as at June 30, 2013 and the Statement of Comprehensive Income, Statement of Cash Flows, Receipts and Payments Statement, Statement of Changes in Equity for the year then ended June 30, 2013 and a summary of significant accounting policies and other explanatory notes. Management s Responsibility for the Financial Statement: Management is responsibility for the preparation and fair presentation of these financial statements in accordance with International financial reporting standards (IFRS), and for such internal control as management determines is necessary to enable the preparation on financial statements that is free from material misstatement. Auditors responsibility: Auditors responsibility is to express an independent opinion on the statement based on our audit. We conducted our audit in accordance with International standard on Auditing (ISA), as adopted by The Institute of Chartered Accountants of Bangladesh (ICAB). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statement. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion: In our opinion, the financial statements present fairly, in all materials respects, the financial position of Environment Council Bangladesh as at June 30, 2013 and its financial performance and its cash flows for the year then ended June 30, 2013 in accordance with International Financial Reporting Standards (IFRS) and other applicable laws and regulations including MRA guidelines.

3 We also report that: (a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit and made due verification thereof. (b) In our opinion, proper books of account as required by law and MRA Act & Rule have been kept by Environment Council Bangladesh so far as it appeared from our examination of those books, and (c) In our opinion, the statement of financial position and the statement of comprehensive income dealt with by the report are in agreement with the books of accounts. October 26, 2013 S.M. ZAKARIA & CO. Chartered Accountants

4 ENVIRONMENT COUNCIL BANGLADESH Balance Sheet As At June 30, 2013 AnnexurA1/2 Particular Notes FY MFP & Development FY & PROPERTIES AND ASSETS : A. FIXED ASSETS : 6.0 Fixed Assets at Cost 6.1 5,327, ,012, ,339, ,099, Less : Accumulated Depreciation 6.2 (2,038,341.00) (1,256,103.00) (3,294,444.00) (2,189,810.00) Written Down Value (A) 3,289, ,756, ,045, ,909, B. CURRENT ASSETS : 7.0 Investment (FDR, STD) ,309, ,991, ,300, ,629, Loan, Advance, Security & Prepaid 7.2 3,281, ,957, ,238, ,575, MFP Loan Outstanding (Principal) ,678, , ,193, ,197, Dev. Fund /Bills Recevable 7.4 9,545, ,545, , Others Current Assets ( Stock & Stores) , , , Suspense Accounts , , CLOSING BALANCE: 8.0 Cash in hand , , , , Cash at Bank 8.2 9,682, ,300, ,983, ,981, Current Assets (B): 223,564, ,344, ,909, ,776, TOTAL PROPERTY & ASSETS (A+B) 226,853, ,100, ,954, ,685, FINANCED BY : A. CAPITAL & RESERVES : Retained Surplus( Excess Service Charge & 19,855, ,649, ,505, ,309, Donation ) Capital & Reserves (A) 19,855, ,649, ,505, ,309, B. LONG TERM LIABILITIES : 10.0 PKSF MFP Fund Account ,199, ,199, ,683, Others MFP Loan Fund Account ,643, ,550, ,193, ,100, Long Term Liabilities (B) : 108,842, ,550, ,392, ,783, C. PROVISION : LLP, DMF & Others Provision ,490, ,831, ,321, ,635, Provision (C) : 6,490, ,831, ,321, ,635, D. CURRENT LIABILITIES : 12.0 Development Fund Account ,885, ,885, Member Savings Account ,017, ,569, ,587, ,863, Sundry Creditors ,446, ,280, ,727, ,033, PF,WF,Gratuity, Security, IT etc ,200, ,334, ,535, ,059, Current Liabilities ( D ) : 91,665, ,069, ,735, ,957, TOTAL LIABILITIES AND RETAINED SURPLUS ( A+B+C+D) : The accompnying notes from an integral part of this financial statement. 226,853, ,100, ,954, ,685, Dept.Head (Finance & Accounts ) 26Oct13 3 Chartered Accountants

5 ENVIRONMENT COUNCIL BANGLADESH PKSF Funded Micro Credit Income and Expenditure Statement Period from 1st July 2012 to 30th June 2013 AnnexurA1/3 Particular INCOME : Notes FY FY & Dev. Member Loan Service Charge 32,084, , ,089, ,643, Member Fee/Subscription 43, Member Loan Fee Loan Application Fee 184, , Miscellaneous/Others Income 622, , , , Project Service Charge 6,336, ,336, ,286, Donation/Contribution(income) 3,495, ,495, , Venue/Others/Dormatory Rent(Income) ID Card & Staff Info. Book Sale 18, , , Printing Material Sale 52, , Profit gainst against Capital Fund 5, , , Abandoned Money(Ew Fund) 45, Pass Book & Registar Sale 30, , , Seat Rent Income 145, , , , Bank Int. on Savings FDR 662, , , Bank Int. on LLPI / FDR 145, , Bank Int. on DMFI / FDR , , , Bank Int. on Dep. FDR 19, , , Bank Int. on Reserve Fund. FDR 149, , , Bank Int. on MW Fund. FDR 35, , , Bank Int. on STD A/C 94, , , , FDR Interest(Income) 391, , , Interest on PF Loan/Advance 23, , Sweing Machine Rent 9, Bad Loan recovery 11, , , Legal Fee Income 2, Cheek Book Sale(Income) 121, , , Booklist Sale(Income) Member Rejection FeeMVS 114, , Late FeeMVS Account Closing Charge(Income) New Staff Contribution(EW Fund) 26, , , Community Radio Advertisement(Inomce) 152, , Fund Adjustement(Income)for Exp. 25,134, ,134, ,144, Income Taka : 34,572, ,064, ,637, ,952, EXPENDITURE : Staff Salary & Facilities ,627, ,774, ,401, ,070, Financial Exp ,519, , ,766, ,114, Management Cost: ,418, ,262, ,681, ,230, Exp./ Contribution ,130, ,130, ,416, Provision & Depreciation ,837, , ,533, ,001, Expenditure Taka : 29,401, ,111, ,513, ,833, Surplus / ( Deficit) for the Year ,170, (46,885.95) 5,123, ,119, Taka : 34,572, ,064, ,637, ,952, The accompnying notes from an integral part of this financial statement. Dept.Head (Finance & Accounts ) 26Oct13 4 Chartered Accountants

6 ENVIRONMENT COUNCIL BANGLADESH Receipt & Payment Accounts Period from 1st July 2012 to 30th June 2013 AnnexurA1/4 Particular RECEIPT : FY FY & Dev. Opening Balance: Cash in hand ,565 71, ,086 79,398 Cash at Bank 8,315,706 9,676,954 17,992,660 13,978,534 PKSF MFP Fund Account: ,409,800 38,409,800 44,500,000 Others MFP Laon Fund Account : ,400,000 51,400,000 Development Fund Account: ,708,005 30,708,005 39,839,882 Member Savings Receipt : ,351,007 3,888,504 57,239,511 23,544,631 General & Others Loan /Fund Account : ,105,982 21,220,307 76,326,289 37,418,562 PF,Gratuity,WF.Security, IT etc ,200,350 3,432,502 10,632,852 3,913,573 MFP Loan Recovery from Beneficiarys : ,063, ,063, ,028,702 Loan & Advance Recovery : ,645, ,951,340 65,596,541 32,080,630 Revenue Income Received : ,572, ,000,044 44,572,402 47,780,358 Investment Withdrawal : ,173, ,524,814 14,697,902 7,001,374 Stock & Stores : , ,340 Suspense Accounts : , ,670 Sale/Fixed Assets Sale: ,966,213 1,854,124 3,820, ,700 Receipt : 517,749, ,328, ,077, ,268,343 PAYMENT : Capital Expenditure (Fixed Assets): ,776,680 1,716,200 5,492,880 1,051,230 PKSF MFP Fund Account: ,893,681 33,893,681 21,286,664 Others MFP Laon Fund Account : ,799, ,000 5,349,000 Development Fund Account: , ,842 1,735,122 Member Savings Return : , ,506,410 15,086,140 General & Others Loan /Fund Account : ,378,560 29,247,999 78,626,559 32,100,843 PF,Gratuity,WF.Security, IT etc ,605, ,475 3,484,934 1,322,035 MFP Loan to Beneficiaries : ,801, ,801, ,794,146 Loan & Advance Paid : ,033, ,872,163 82,905,647 78,914,338 Payment against Provisioned , , ,775 Investment against Provisioned ,264,631 5,103,962 38,368,593 9,242,907 Material / Stock & Stores ,540 98,540 Suspense Accounts : , ,133 Staff Salary & Benefits : ,627,006 1,647,679 17,274,685 8,289,553 Financial Cost : ,476, ,775 4,724,496 2,321,165 Management Cost: ,418,443 2,059,965 8,478,408 3,699,418 Contribution & Expenses ,647,471 16,647,471 27,099,918 Closing Cash & Bank Balance: Notes Cash in hand 250,943 35, , , Cash at Bank 9,682,767 7,300,575 16,983,342 15,222,332 Payment : 517,749, ,328, ,077, ,268,343 The accompnying notes from an integral part of this financial statement. Dept.Head (Finance & Accounts) 26Oct13 5 Chartered Accountants

7 Particular ENVIRONMENT COUNCIL BANGLADESH Cash Flow Statement For the Year ended 30 June 2013 FY AnnexurA1/5 FY & Dev. A. Cash flows form Operating Activities : Surplus for the period 5,170, (46,885.95) 5,123, ,258, Add. Amount Considered as Non Cash Items Exp. : LLP Provision 783, , ,880 DMF Provision 320, , ,595 Depreciation for the Year 733, ,716 1,429, ,400 Non Cash Exp. Of Salary 126, ,360 1,600 Non Cash Financial Cost 1,042,382 (0) 1,042,382 4,830 Non Cash Management Cost 202, , ,646 Non Cash Cost 14,482,896 14,482,896 42,357,393 Less. Amount Considered as Non Cash Items Income : Non Cash Revenue Income 26,064,879 26,064,879 (56,129,755) Sub of Non Cash Items : 8,050, (10,602,845.81) (2,552,657.70) 6,370, Loan Disbursed to beneficiaries (320,801,000) (320,801,000) (167,794,146) Loan Realized from beneficiaries 251,063, ,063, ,028,702 Net Cash Used in Operaiting Activities (69,737,710) (69,737,710) (31,765,444) B. Cash flows from Investing Activities: Fixed Assets Purchase (3,776,680) (1,716,200) (5,492,880) (1,051,230) Fixed Assets Sale 1,966,213 1,854,124 3,820, ,700 Material / Stock & Stores purchase (98,540) (98,540) Material / Stock & Stores Sale 67,340 67,340 Suspense Accounts payment: (687,133) (687,133) Suspense Accounts Realised: 356, ,670 Investment against Provision Fund: FDRRegular Savings (13,080,328) (13,080,328) (2,651,208) FDRVoluntary Savings FDRLLP (17,438) FDRDMF (448,486) (448,486) (265,510) Invest against Dep. (1,056,260) FDRSurplus Fund (624,099) (624,099) FDRGeneral,PF,Security,Gratuaty,WF Fund (15,500,000) (15,500,000) (1,252,375) Bank Gurantee /Bid Security for New project Bank DepositDMFI (111,860) (111,860) Bank DepositReserve Fund (2,000) (2,000) FDR Interest. Receivable (123,518) (123,518) Investment EP, EG, ES, EW Fund: Investment Employee Provident Fund (1,499,824) (2,087,919) (3,587,743) Investment Employee Gratuity Fund (695,451) (1,335,812) (2,031,263) Investment Employee Security Fund (963,965) (950,244) (1,914,209) Investment Employee Welfare Fund (215,100) (729,987) (945,087) Investment Withdrawal/Encashment 13,173,088 1,524,814 14,697,902 7,001,374 Net Cash Used in Investing Activities (22,263,673) (3,441,225) (25,704,898) (3,190,064) C. Cash Flows from financing Activities: PKSF MFP Fund Receipt: 38,409,800 38,409,800 44,500,000 PKSF MFP Fund Return: (33,893,681) (33,893,681) (21,286,664) Others MFP Loan Fund Receipt: 51,400,000 51,400,000 Others MFP Loan Fund Return : (4,799,000) (550,000) (5,349,000) Development Fund Receipt 30,708,005 30,708,005 39,839,882 Development Fund Return (437,842) (437,842) (1,735,122) Payment against Provisioned (30,763) (30,763) (998,775) General & Others Loan Receipt 55,105,982 21,220,307 76,326,289 37,418,562 General & Others Loan Return (49,378,560) (29,247,999) (78,626,559) (32,100,843) Loan & Advance Paid (4,033,484.28) (78,872,162.75) (82,905,647) (78,914,338) Laon & Advance Realized 2,645, ,951, ,596,541 32,080,630 Members Savings Collection 53,351,007 3,888,504 57,239,511 23,544,631 Members Savings Return (27,955,522) (550,888) (28,506,410) (15,086,140) PF,Gratuity, WF Collection 7,200,350 3,432,502 10,632,852 3,913,573 PF,Gratuity, WF Return (2,605,459) (879,475) (3,484,934) (1,322,035) Net Cash Used in Financing Activities 85,446,634 11,631,527 97,078,161 29,853,360 D. Net increase / (Decrease) Cash & Bank Balance 1,495,439 (2,412,543) (917,104) 1,268,157 Cash and Bank Balance Beginning of the year 8,438, ,748,475 18,186,746 14,057,932 Cash and Bank Balance at the end of the year 9,933, ,335,932 17,269,642 15,326,088 The accompnying notes from an integral part of this financial statement (0) Dept. Head (Finance & Accounts ) Chartered Accountants

8 ENVIRONMENT COUNCIL BANGLADESH Satement of Changes in Equity For the period ended June 30, 2013 AnnexurA1/6 Particular Notes FY FY Balance As at July 01, ,623, ,686, ,309, ,263, ,702, ,966, Prior year adjustment 61, , , Surplus for the Yer 5,170, (46,885.95) 5,123, ,359, ,982, ,342, Balance As At June 30, ,855, ,649, ,505, ,623, ,686, ,309, Transferred to reserve (2,556,022.00) (2,556,022.00) Fund (After transfer to reserve) 17,299, ,649, ,949, ,623, ,686, ,309, Add. Reserve fund 2,556, ,556, Balance as on ,855, ,649, ,505, ,623, ,686, ,309, The accompnying notes from an integral part of this financial statement. Dept. Head ( Finance & Accounts) 26Oct13 7 Chartered Accountants

Monno Ceramic Industries Ltd.

Monno Ceramic Industries Ltd. INDEPENDENT AUDITORS REPORT TO THE SHAREHOLDERS We have audited the accompanying Statement of Financial Position of MONNO CERAMIC INDUSTRIES LIMITED as of June 30, 2014 and the Statement of Comprehensive