Carew & Company (Bangladesh) Ltd.

Darsana, Chuadanga
Financial Statements
For the year ended 30 June 2023
 Carew & Company (Bangladesh) Ltd.
Darsana, Chuadanga
Statemnet of Financial Position
As at 30 June, 2023

Pharmaceutical Commercial Akandabaria Jaibo Shar Amount in Taka

Property & Assets Notes Sugar Distillery
Work Farm Farm (Exper) (Bio-Fertilizer) 30-06-2023 30-06-2022

A. Non- Current Assets

Property, Plant & Equipments 03.00 102,435,367 61,580,189 207 24,841,645 1,000,463 17,035,563 206,893,434 203,589,030
Capital Work in Progress 04.00 185,162,536 - - - - - 185,162,536 45,838,745
Total 287,597,903 61,580,189 207 24,841,645 1,000,463 17,035,563 392,055,970 249,427,775

B. Current Asset
Current Account With Inter Unit 05.00 - 10,570,819,883 - - - 30,633,784 10,601,453,667 9,508,264,075
Stock in Trade 06.00 33,433,000 102,847,001 632,474 60,374,548 7,065,786 18,229,120 222,581,929 166,911,738
Stock of Store & Spares 07.00 154,128,907 242,977,655 4,388,107 1,364,413 193,795 1,522,114 404,574,991 230,492,189
Stock in Transit 08.00 39,700,934 - - - - - 39,700,934 5,967,685
Trade Debtors 09.00 31,263,249 870,261 598,832 8,820,442 379,000 37,230 41,969,014 3,241,660
Sundrey Debtors 10.00 1,879,268 - - - - - 1,879,268 2,261,415
Receiveable from Others 11.00 10,137,282 - - - - 10,137,282 10,137,282
BSFIC Current Account 12.00 3,368,725,500 - - - - - 3,368,725,500 2,797,831,413
Inter Project Current Account 13.00 30,097,555 - - - - - 30,097,555 48,291,068
Advance, Deposit & Pre-payments 14.00 60,823,595 33,261,849 1,026 50,200 - 370,400 94,507,070 76,484,936
Cash and cash equivalents 15.00 1,876,426,653 - - - - - 1,876,426,653 1,718,550,043
Total 5,596,478,661 10,960,913,931 5,620,439 70,609,603 7,638,581 50,792,648 16,692,053,863 14,568,433,502
Grand Total (A+B) 5,884,076,564 11,022,494,120 5,620,646 95,451,248 8,639,044 67,828,211 17,084,109,833 14,817,861,227

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 Carew & Company (Bangladesh) Ltd.
Darsana, Chuadanga
Statemnet of Financial Position
As at 30 June, 2023
Pharmaceutical Commercial Akandabaria Jaibo Shar (Bio- Amount in Taka
Equity and Liabilities Notes Sugar Distillery
Works Farm Farm (Exper) Fertilizer) 30-06-2023 30-06-2022

A. Share Capital 16.00 7,565 - - - - 7,565 7,565

B. Retained earnings/(loss) (8,086,642,045) 10,678,756,273 (6,522,498) (592,695,254) (35,883,363) (21,343,909) 1,935,669,205 1,013,437,301
C. Government Equity 17.00
Seed multiplication farm scheme 2,403,821 - - - - - 2,403,821 2,403,821
Integrated cane development (ICD) 995,870 - - - - - 995,870 995,870
ADP Grant - - - - - 28,765,200 28,765,200 28,765,200
Total 3,399,691 - - - - 28,765,200 32,164,891 32,164,891
D. Reserve : 18.00
Capital Reserve 17,295,407 213,778 - 917,268 1,999,927 - 20,426,380 20,426,380
General Reserve 1,273 - - - - - 1,273 1,273
Total 17,296,680 213,778 - 917,268 1,999,927 - 20,427,653 20,427,653
E. Government & Other Grants: 19.00
ICDS Phase-II 1,429,864 - - - - - 1,429,864 1,429,864
- -
F. Long Term Loan 20.00 332,213,931 48,150,507 - 3,269,945 - 60,406,920 444,041,303 404,132,828
G. Leave Pay & Gratuity 21.00 653,759,307 - - - - - 653,759,307 628,803,572
H. Current Account with Inter unit 5.00 9,870,933,519 - 12,081,140 676,060,168 42,378,840 - 10,601,453,667 9,508,264,075
I. Current Liabilities & Provisions
Secured Loans 22.00 2,680,769,782 - - - - - 2,680,769,782 2,538,825,518
Inter Project Current Account 23.00 145,632,487 - - - - - 145,632,487 109,086,514
Creditors 24.00 250,225,582 66,508,363 62,004 7,899,121 143,640 - 324,838,709 342,889,169
Provision for Income Tax 25.00 - 218,727,918 - - - - 218,727,918 196,345,951
Provision for bad & doubtful debts 26.00 15,050,201 10,137,282 - - - - 25,187,483 22,046,376
Total 3,091,678,052 295,373,562 62,004 7,899,121 143,640 - 3,395,156,378 3,209,193,528
Grand Total (A+B+C+D+E+F+H+I) 5,884,076,564 11,022,494,120 5,620,646 95,451,248 8,639,044 67,828,211 17,084,109,833 14,817,861,277
The annexed notes form 1 to 34 are an integral part of these financial statements

General Manager (Finance) Managing Director Director

Signed in terms of separate report of even date.

Firms' Name : Rahman Mostafa Alam & Co. Chartered Accountants

Signature :

Auditors’ Name : Md. Anwaruzzaman FCA, (Enrolment No.: 1268)

Date : Place : Dhaka
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DVC :

6
 Carew & Company (Bangladesh) Ltd.
Darsana, Chuadanga
Statement of Profit or Loss and Other Comprehensive Income
For the year ended 30 June 2023

Amount in Taka
Pharmaceutical Commercial Akandabaria Jaibo Shar 01-07-2022 01-07-2021
Particulars Notes Sugar Distillery
Works Farm Farm (Exper) (Bio-Fertilizer) to to
30-06-2023 30-06-2022
Sales
Gross Sales 249,646,799 4,389,129,221 3,439,386 92,604,998 12,414,637 12,352,350 4,759,587,391 4,293,597,638
Less: Excise Duty - 1,031,493,792 - - - - 1,031,493,792 772,159,850
Less: Others (VAT, RDF, Surcharge) - 222,012,947 334,805 - - - 222,347,752 186,344,532
Net sales 27.00 249,646,799 3,135,622,482 3,104,581 92,604,998 12,414,637 12,352,350 3,505,745,847 3,335,093,256
Add: Molasses & Pressmard transfer to distillery 60,080,033 - - - - - 60,080,033 70,133,951
Add: Sales of press mud to Jaibo Shar 1,469,000 - - - - - 1,469,000 -
Less: Cost of goods sold 28.00 587,429,877 1,133,085,638 3,038,758 71,555,760 9,958,055 7,159,563 1,812,227,650 1,823,594,834
Gross Profit / (Loss) (276,234,045) 2,002,536,844 65,823 21,049,238 2,456,582 5,192,787 1,755,067,230 1,581,632,373
Less: Operating Expenses: - -
Adminstrative overhead 29.00 170,091,213 447,804,877 42,842 49,260,321 3,321,099 412,741 670,933,092 683,703,356
Selling and distrubution overhead 30.00 3,648,178 1,679,374 - - - - 5,327,552 5,565,353
Total Operating Expenses 173,739,391 449,484,251 42,842 49,260,321 3,321,099 412,741 676,260,644 689,268,709
- -
Net Profit/ (Loss) from Operation (449,973,436) 1,553,052,593 22,981 (28,211,083) (864,517) 4,780,046 1,078,806,586 892,363,664
Less: Financial Expenses 31.00 201,467,957 24,905,006 - - - 2,157,390 228,530,354 219,465,744
(651,441,393) 1,528,147,587 22,981 (28,211,083) (864,517) 2,622,656 850,276,232 672,897,920
Add: Other Income 32.00 40,739,863 10,464,160 - 30,501,119 2,251,100 - 83,956,242 39,305,868
Net Profit/ (Loss) before Tax & WPPF (610,701,530) 1,538,611,747 22,981 2,290,036 1,386,583 2,622,656 934,232,473 712,203,788
Less: Workers Profit Participation Fund 33.00 - 44,487,261 - - - - 44,487,261 33,914,466
Net Profit/ (Loss) before Tax (610,701,530) 1,494,124,486 22,981 2,290,036 1,386,583 2,622,656 889,745,212 678,289,322
Less: Provision for Income Tax - 244,679,933 - - - - 244,679,933 186,529,564
Profit/(Loss) after Tax (610,701,530) 1,249,444,553 22,981 2,290,036 1,386,583 2,622,656 645,065,279 491,759,759
Add: Other Comprehensive Income - - - - - - - -
Total Comprehensive Income (610,701,530) 1,249,444,553 22,981 2,290,036 1,386,583 2,622,656 645,065,279 491,759,759
The annexed notes form 1 to 34 are an integral part of these financial statements

General Manager (Finance) Managing Director Director

Signed in terms of separate report of even date.
Firms' Name : Rahman Mostafa Alam & Co. Chartered Accountants
Signature :
Auditors’ Name : Md. Anwaruzzaman FCA, (Enrolment No.: 1268)
Date : Place : Dhaka
DVC :

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 Carew & Company (Bangladesh) Ltd.
Darsana, Chuadanga
Statemnet of Changes in Equity
For the year ender 30 June, 2023
Amount in Taka
Pharmaceutical Commercial Akandabaria
Particulars Sugar Distillery Jaibo Shar
Works Firm Firm (Exper) Total
(Bio-Fertilizer)
Share Capital:
Retained Earnings/ (Loss):
Balance as at 01 July 2022 (7,753,107,139) 9,429,311,720 (6,545,479) (594,985,290) (37,269,945) (23,966,565) 1,013,437,301
Net Profit/ (Loss) after tax for the year (610,701,530) 1,249,444,553 22,981 2,290,036 1,386,583 2,622,656 645,065,279
Prior Year Adjustment 277,166,625 - - - - - 277,166,625
Closing Balance (8,086,642,045) 10,678,756,273 (6,522,498) (592,695,254) (35,883,363) (21,343,909) 1,935,669,205
Balance as at 30 June 2023 (8,086,642,045) 10,678,756,273 (6,522,498) (592,695,254) (35,883,363) (21,343,909) 1,935,669,205

Carew & Company (Bangladesh) Ltd.

Darsana, Chuadanga
Statemnet of Changes in Equity
For the year ender 30 June, 2022
Amount in Taka
Particulars Commercial Akandabaria Jaibo Shar
Sugar Distillery Pharmaceutical Total
Firm Firm (Exper) (Bio-Fertilizer)
Share Capital:
Retained Earnings/ (Loss):
Balance as at 01 July 2021 (7,136,568,109) 8,290,303,436 (6,931,724) (560,583,767) (37,244,958) (24,112,834) 524,862,043
Net Profit/ (Loss) after tax for the year (613,354,529) 1,139,008,284 386,245 (34,401,523) (24,987) 146,269 491,759,759
Prior Year Adjustment (3,184,501) - - - - - (3,184,501)
Closing Balance (7,753,107,139) 9,429,311,720 (6,545,479) (594,985,290) (37,269,945) (23,966,565) 1,013,437,301
Balance as at 30 June 2022 (7,753,107,139) 9,429,311,720 (6,545,479) (594,985,290) (37,269,945) (23,966,565) 1,013,437,301

General Manager (Finance) Managing Director Director

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 Carew & Company (Bangladesh) Ltd.
Darsana, Chuadanga
Statemnet of Cash Flow
For the year ender 30 June, 2023
Amount in Taka
Particulars 30-06-2022 30-06-2021
to to
30-06-2023 30-06-2022
A. Cash Flow From Operation Activities
Net Profit / (Loss) after Tax & Adjustment 645,065,279 491,759,759
Prior periods adjustment 277,166,625 (3,184,501)
Deprecitation to convert net margin to cash basis 33,828,865 32,422,650
Adjustment to reconcile Profit to Net Cash 956,060,768 520,997,908
Cash Flow from Operating Activities
Current Asset (Increased)/ Decreased (803,579,835) 195,614,121
Loss/(Gain) on disposal of assets - -
Stock in trade (55,670,191) 265,955,685
Stock of store & spares (174,082,802) 4,598,980
Stores in transit (33,733,249) (5,614,383)
Trade debtors (38,727,355) 1,142,786
Sundry debtors 382,147 337,058
Receivable from others (0) -
BSFIC Current Account (570,894,087) (266,757,140)
Inter Project Current Account (Asset) 18,193,513 (21,202,315)
Advance, Deposit & Prepayments (18,022,134) 6,619,409
Current Liabilities increased/ (decreased):
Inter Project Current Account (Liability) 36,545,974 54,125,156
Creditors (18,050,460) 41,588,524
Provision for Income Tax 22,381,967 107,101,528
Provision for bad debts & doubtful debts 3,141,107 500,000
Deffered Liabilities (Leave pay & gratuity) 24,955,735 7,218,835
Net cash provided/ (used) by Operating Activities 152,480,933 716,612,029
B. Cash Flow from Investing Activities
Capital work in progress (139,323,792) 1,950,894
(Acquisition)/ Disposal of fixed assets (37,133,268) (63,788,405)
Net cash (Used)/ provided by investing activities (176,457,060) (61,837,511)
C. Cash Flow from Financing Activities:
Government funds loans (ADB) - -
Logn term loan 39,908,475 24,666,680
Secured loan 141,944,263 174,723,787
Net cash (used)/ provided by financing activities 181,852,738 199,390,467
Net cash generated/ (depleted) (A+B+C) 157,876,611 854,164,985
Add: Opening cash & cash equivalents 1,718,550,043 864,385,057
Closing Cash & Cash equivalents 1,876,426,654 1,718,550,043

General Manager (Finance) Managing Director Director

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 Carew & Company (Bangladesh) Ltd.
Darsana, Chuadanga
Notes to the Financial Statements
As at and for the year ended 30 June 2023

Notes Particulars

01.00 Leagal Status

CAREW & COMPANY (BANGLADESH) LTD. has been established in the year 1938 and
Incorporated in the year 1962. After the independence of Bangladesh the company was declared an
abandoned property under P.O 27 of 1972 and its ownership vested on the Government of
Bangladesh. The Government transferred the company to Bangladesh Sugar and Food Industries
Corporation (BSFIC) for management and control. The company is located at Darsana, Chuadanga.

01.01 Principal activities

The company produces & sells Sugar, Spirit, Liquor, industrial alcohol and pharmaccutical products
etc. and also agro crops such as cane seed, dhanicha seed, mustard seed, organic Bio-fertilizer etc.

02.00 Significant Accounting Policies

This financial statement have been prepared under historical cost convention in accordance with
International Financial Reporting Standards (IFRCs), applicable to the Company so far as adopted by
the Institute of Chartered Accountants of Bangladesh as International Financial Reporting Standards
(IFRCs). The disclosures of the information are made in accordance with the requirements of the
Companies Act 1994 and the Statement of the Financial Position and Statement of Profit or Loss and
Other Comprehensive Income have been prepared in accordance with IAS-1 (Presentation of
Financial Statements) on accrual basis following going concern concept.

02.01 Risk and

uncertain
In the preparation of these financial statements, management requires information to make judgment,
estimate and assumption that affect application of accounting policies and the reported amount of
assets and liabilities, income and expenses. Actual results may differ from those estimates.

02.02 Going concern

The Company has adequate resources to continue its operation for foreseeable future. For this reason
the financial statements have been prepared on going concern basis. As per management
assessment there are no material uncertainty related to events or conditions which may cast significant
doubt upon the company's ability to continue as a going concern.

02.03 Property, Plant and Equioment

Property, Plant and Equipment are stated in at cost less accumulated depreciation in accordance with
IAS-16. Maintenance and betterments that enhance the economic useful life of the property, plant and
equipment or that improve the capacity, quality and reduce substantially the operation cost or
administration expenses are capitalized by adding it to the related property, plant and equipment. Upon
disposal of items of property, plant and equipment, the cost of those assets and their related
accumulated depreciation are eliminated up to the date of disposal and any gains or losses therefrom
are reported in the statements of profit or loss and other comprehensive income of the year.

02.04 Depreciation on property, plant and equipment

Depreciation is charged on the basis of straight line method and continued to be charged on each item
of the property, plant and equipment until the written down value of such property, plant and equipment
are reduced to Taka one.

Depreciation: No depreciation is charged on land and land development. Full year depreciation has
been charged on additions, irrespective of date when the related assets are put into use. The rates of
depreciation on each class of assets are as follows:

Category of property, plant and equipment Rate

Land 0%
Building & other construction 2.5% to 15%
Plant & Machinery 2% to 15 %
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 Carew & Company (Bangladesh) Ltd.
Darsana, Chuadanga
Notes to the Financial Statements
As at and for the year ended 30 June 2023

Notes Particulars
Vehicle & Transport 20% to 25%
Furniture & Fixture 6% to 15%
Equipment 10% to 20%
Pump & Tube-well 12%
02.05 Land Measerement Under-Table:

Total amount of
Sl. No. Particulars
land (Acre)
1 Factories and Colonies 166.18
2 Sugarcane and Center 5.30
3 Road 48.35
4 Experimental farm 279.72
5 Farm 3,055.84
6 Others 1.27
Total 3,556.66
02.06 Valuation of inventories:
Inventories are stated at lower of cost VS net realized value in compliance with the requirement of
Para 9 of IAS-2 ''Inventories''.
Inventories are values at lower of cost VS net realizable value. The cost of inventories comprise all
cost purchase and other cost incurred to bring the inventories to existing form or condition.

Work in Process:
Valuation of work process represents 100% cost of Sugar Cane Including loading Charge,
proportionate production overhead as per guideline of BSFIC.

Store in Transit:
Store in transit has been valued at actual cost representing C & F values, duties & Taxes on Imports
and other Incidental expenses incurred in connection with consignment till arrival at Mill Site.

Store & Spares:

Stock of Stores & Spares is valued at Weighted Average Method.

02.07 Statement of Cash flows

Statement of cash flows has been prepared in accordance with the International Accounting Standards
(IAS-7) ''Cash flow statement'' under indirect method.

02.08 Revenue recognition

Revenue is measured at fair value of consideration received or receivable. Revenue from sale of
goods is recognized when the company has transferred significant risk and reward of ownership of
goods to the buyer and revenue and cost incurred to effect the transaction can be measured reliably in
compliance with the requirements IAS-18 ''Revenue''.

02.09 Borrowing costs

Incompliance with the requirement of IAS-23 (Borrowing Costs), borrowing costs relating to operational
period of long term loan, short term loan and overdraft facilities were charged to revenue account as
expenses, as incurred.

02.10 Taxation
Provision for income tax has been made on profit @27.50% as per Income Tax Ordinance 1984.

02.11 Payable and accurals

Liabilities are recorded at the level of amount payable in settlement.

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 Carew & Company (Bangladesh) Ltd.
Darsana, Chuadanga
Notes to the Financial Statements
As at and for the year ended 30 June 2023

Notes Particulars
02.12 Foreign currency transactions
Foreign currency transactions are recorded in BDT at applicable rates of exchange ruling at the date of
transactions in accordance with IAS-21 (The effects of changes in foreign exchange rates).

02.13 Cash and Cash equivalents

Cash and Cash equivalents include cash in hand, bank balances, term deposits, etc. which are
available for use by the company. There is no significant risk of change in value of the same.

02.14 Capital and Reserve

Capital and Reserve consists of Govt. Equity as well as deposit for share is converted into paid up
Capital as and when share are issued.

02.15 Government Equity

i) Seed Multiplication and Research Farm Scheme (SMRFS)
The company has received a total sum of Tk. 60,09,554 from the Government of Bangladesh (GOB)
for implementation of sugar cane seed multiplication and Research Farm Scheme(SMRFS) during the
year 1982-1983 to 1986-1987, of the total sum received 40% amounting to Tk. 24,03,821 was to be
treated as contribution of GOB to equity and the balance Tk. 36,05,731 was to treated as ADP loan.
The whole amount equity was utilized for the acquisition of fixed assets for carrying out work under the
scheme.

ii) Intregrated Cane Development Program

A sum of Tk. 9,95,870 of ADP loan for ICDP has been converted into government equity during 1990-
1991 as per order issued by the Ministry of Industries, Government of Bangladesh. The whole amount
of equity was utilized for acquisition of fixed assets. This is as per the comments appeared in last audit
report.

02.16 Employees Benefits

The company a Contributory Provident Fund, Gratuity Fund, Group Insurance Policy and Welfare Fund
for its employee’s provision for which are made as per rules.

02.17 Provision For Expenses

Provision were made considering risk and un-certainties at best estimate of the probable expenditure
that would require to meet the current obligation on the Financial Position for the year. Contingent
liabilities and assets are current or possible obligations of liabilities or assets, arising from past events
and existence of which depends upon the occurrence or non-occurrence of one or more uncertain
future events which are not within the control of the company. (IAS-37).

02.18 Profit Worker's Participation Fund

The Company has provided Worker's Participation Fund.
02.19 Number of Employees
The number of permanent employees engaged for the year total was 714 and thousands of contract &
daily workers.

02.20 Earning per share (EPS)

Particulars 30-06-2023 30-06-2022
Net Profit/(Loss) available to equity shareholders 645,065,279 491,759,759
No. of Oustanding Shares 1,000 1,000
Earning per share (EPS in Taka) 645,065 491,760
02.21 General
a) Figures in these financial statements have been rounded off to the nearest Taka.

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 Carew & Company (Bangladesh) Ltd.
Darsana, Chuadanga
Notes to the Financial Statements
As at and for the year ended 30 June 2023

Notes Particulars
b) Previous year's figures have been regrouped, rearranged and/or restated wherever considered
necessary for the purpose of current year's financial presentation.

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 Carew & Company (Bangladesh) Ltd.
Darsana, Chuadanga
Schedule of Property, Plant & Equipment
As at 30 June, 2023
Notes: 3.00 Property, Plant and Equipment
Pharmaceutical Commercial Akandabaria Jaibo Shar Total
Particulars Sugar Distillery
Works Farm Farm (Exper) (Bio-Fertilizer) 2021-2023
Openning Balance (At cost) 316,928,499 320,472,764 1,471,178 89,774,459 3,641,305 74,487,586 806,775,791
Add: Net addition during the Year 14,468,987 13,678,399 - 8,985,882 - - 37,133,268
Total (At cost) 331,397,486 334,151,163 1,471,178 98,760,341 3,641,305 74,487,586 843,909,059
Less: Adjustment - - - - - - -
Closing Balance (At cost) 331,397,486 334,151,163 1,471,178 98,760,341 3,641,305 74,487,586 843,909,059
Less: Accumulated Depreciation 228,962,120 272,570,974 1,470,971 73,918,696 2,640,842 57,452,023 637,015,626
Written Down Value 30-06-2023 102,435,367 61,580,189 207 24,841,645 1,000,463 17,035,563 206,893,433
* Details of Property, Plant & Equipment have heen shown at Annexure-A

Carew & Company (Bangladesh) Ltd.

Darsana, Chuadanga
Schedule of Property, Plant & Equipment
As at 30 June, 2022

Pharmaceutical Commercial Akandabaria Jaibo Shar Total

Particulars Sugar Distillery
Works Farm Farm (Exper) (Bio-Fertilizer) 2021-2022
Openning Balance (At cost) 281,310,590 295,327,794 1,471,178 87,727,981 3,641,305 73,508,586 742,987,434
Add: Net addition during the Year 35,617,909 25,144,970 - 2,046,478 - 979,000 63,788,357
Total (At cost) 316,928,499 320,472,764 1,471,178 89,774,459 3,641,305 74,487,586 806,775,791
Less: Adjustment - - - - - - -
Closing Balance (At cost) 316,928,499 320,472,764 1,471,178 89,774,459 3,641,305 74,487,586 806,775,791
Less: Accumulated Depreciation 217,307,892 261,570,741 1,468,834 68,633,424 2,386,692 51,819,178 603,186,761
Written Down Value 30-06-2022 99,620,607 58,902,023 2,344 21,141,035 1,254,613 22,668,408 203,589,030
13
* Details of Property, Plant & Equipment have heen shown at Annexure-A

14
 Amount in Taka
Notes Particulars
30-06-2023 30-06-2022

04.00 Capital Work in Progress:

Sugar:
B.M.R Project Note 4.01 46,982,243 45,838,745
Distillery Foreign Liquire Autamation 68,024,688
Distillery New 10 Ton Boiler 44,736,710
Market Nirman Work 25,057,885
Brown Sugar Project 361,011
Total 185,162,536 45,838,745

04.01 B.M.R Project

Opening Balance 45,838,745 47,789,639

Add: Addition during the year 1,143,498 196,395
46,982,243 47,986,034
Less: Adjustment during the year - 2,147,289
Closing Balance 46,982,243 45,838,745

05.00 Current account with inter unit (Farm and other Subsidiary Undertaking):
Sugar Note 5.01 (9,870,933,519) (8,811,313,558)
Distiliary Note 5.02 10,570,819,883 9,474,504,500
Pharmacutical (12,081,140) (11,780,485)
Commercial Farm (676,060,168) (642,229,268)
Experimential Farm (Akandabaria) (42,378,840) (42,940,764)
Jaibo Shar Farm ( Bio-fertilizer) 30,633,784 33,759,574
Closing Balance 0 0

05.01 Sugar Accounts with other unit

Current account with Distillery (10,570,819,883) (9,474,504,500)
Current account with Pharmaceutical 12,081,140 11,780,485
Current account with Commercial Firm 676,060,168 642,229,268
Current account with Experimental Farm (Akandobaria) 42,378,840 42,940,764
Current account with Jaibo Shar (Bio- Fertilizer) (30,633,784) (33,759,574)
Closing Balance (9,870,933,519) (8,811,313,558)

05.02 Distillery Accounts with other unit

Current account with Sugar unit 10,570,819,883 9,474,504,500
Closing Balance 10,570,819,883 9,474,504,500

06.00 Stock in Trade

Finish Goods:
Sugar Note 6.01 33,433,000 38,261,680
Distillery 102,847,001 81,091,830
Pharmaceutical Note 6.02 632,474 585,719
Commercial Firm Note 6.03 60,374,548 35,582,999
Akandobaria Farm (Lentil) Note 6.04 7,065,786 6,486,041
Jaibo Sar (Bio- Fertilizer) 18,229,120 4,903,470
Closing Balance 222,581,929 166,911,738

06.01 Sugar Qty (MT) Rate (Tk.)

Fininised goods (Bag) 322.60 100,000 32,260,000 35,120,400
Fininised goods ( 1 kg Pack) - - 2,385,000
Work in progress 11.73 100,000 1,173,000 756,280
Closing Balance 33,433,000 38,261,680

06.02 Pharmaccutical Qty (LT) Rate (Tk.)

Spirituous medicine 514 97 49,754 49,754
Non-Spirituous medicine 3,366 170 572,220 522,748
Hand Sanitizar 21 500 10,500 13,217
Closing Balance 632,474 585,719

14
 Amount in Taka
Notes Particulars
30-06-2023 30-06-2022

06.03 Commercial Farm

Finished goods 1,215,000 694,008
Vietnam coconut plant - -
Crops in progress (Standing sugar Cane) 59,159,548 34,888,991
Closing Balance 60,374,548 35,582,999

06.04 Akandobaria Farm

Finished Goods - -
Crops in progress (Standing Sugar Cane) 7,065,786 6,486,041
Closing Balance 7,065,786 6,486,041

07.00 Stock of Stores & Spares:

Sugar Unit Note 7.01 154,128,907 120,985,809
Distillery Unit 7.02 242,977,655 102,315,243
Pharmacutical Unit 4,388,107 4,546,017
Commercial Farm 1,364,413 1,194,745
Akandobaria Farm 193,795 106,542
Jaibo Shar (Bio-Fertilizer) 1,522,114 1,343,832
Closing Balance 404,574,991 230,492,189

07.01 Sugar Unit

Constrction materials 1,361,627 1,676,800
Iron, Steel & Non-ferrous Materials 1,796,326 2,299,575
Pipes, Tubers & Fittings 8,473,092 7,674,508
Refectories 2,267,899 2,437,484
Fuel oil & Lubricants 16,791,559 17,033,848
Production Materials & Chemical 10,060,312 5,823,440
Paints & Varnishes 499,200 328,994
General Hardware 2,232,543 2,225,611
Loose Tools 1,507,335 1,520,017
Domestic Equipments 147,096 154,167
Furniture & Fixture 309,004 18,848
Cords, Ropes & Chains 85,711 97,462
Packing, Gasket & Insulation Mat 918,964 1,059,660
Chemical Laboratory Applies 2,842,035 3,879,644
Medical Supplies 1,082 1,082
Printing & Stationary 1,187,780 1,197,780
Mechanical Spares & Equipments 56,711,913 29,290,529
Electrical Spares & Equipments 6,574,446 6,662,714
Office Equipment 24,096 7,851
Miscellaneous - Fertilizer 25,291,625 25,009,589
Stock of fertilizer Pesticides at cane center 2,991,345 3,409,823
Tranport spares & Equipment 12,053,917 9,176,382
Closing Balance 154,128,907 120,985,809

7.02 Distellery Unit: Quantity(M.ton) Rate

Molases 5,200 35,007 182,027,123 -
Cartoon 12,107,108 -
Bottle 28,033,781 -
Flauver 5,305,848 -
Other Store & Spears 15,503,795 102,315,243
242,977,655 102,315,243
08.00 Stores in Transit
Sugar: Contract No. Contract Date
Opening Balance 5,967,685 -
Add: Addition during the year 178,470,603 5,967,685
184,438,288 5,967,685
Less: Adjustment during the year 144,737,354 -
Closing Balance 39,700,934 5,967,685

15
 Amount in Taka
Notes Particulars
30-06-2023 30-06-2022

09.00 Trade Debtors

Sugar Note 9.01 31,263,249 1,383,349
Distillery Note 9.02 870,261 508,990
Pharmaceutical Note 9.03 598,832 158,759
Commercial Farm Note 9.04 8,820,442 1,188,082
Jaibo Shar (Bio-fertilizer) 37,230 2,480
Experimental Farm Note 9.05 379,000 -
Closing Balance 41,969,014 3,241,660

09.01 Sugar
Opening Balance 1,383,349 1,383,349
Add: Addition during the year 146,836,989 24,170,000
148,220,338 25,553,349
Less: Adjustment during the year 116,957,089 24,170,000
Closing Balance 31,263,249 1,383,349

09.02 Distillery
Opening Balance 508,990 712,811
Add: Addition during the year 4,041,875,774 290,269,769
4,042,384,763 290,982,579
Less: Adjustment during the year 4,041,514,502 290,473,590
Closing Balance 870,261 508,990

09.03 Pharmaceutical
Trade Debtors 598,832 158,759

09.04 Commercial Farm

Opening Balance 1,188,082 1,050,175
Add: Addition during the year 8,808,242 1,175,882
9,996,324 2,226,057
Less: Adjustment during the year 1,175,882 1,037,975
Closing Balance 8,820,442 1,188,082

09.05 Experimental Farm

Opening Balance - 50,000
Add: Addition during the year 379,000 -
379,000 50,000
Less: Adjustment during the year - 50,000
Closing Balance 379,000 -

10.00 Sundry debtors

Sugar:
Opening Balance 2,261,415 2,598,473
Add: Addition during the year 490,835 668,112
2,752,249 3,266,585
Less: Adjustment during the year 872,982 1,005,170
Closing Balance 1,879,268 2,261,415

11.00 Receivable from others (Distillery)

M. Motable, Mymensing 208,014 208,014
Nasiruddin , Sr. Clerk 9,929,268 9,929,268
Closing Balance 10,137,282 10,137,282

Note: Cash embezzlement from office premises (FY: 2008-2009) have been recorded receivable from others. Legal action
or claim has been made against that embezzlement which is pending on court case no. - 01/2009. Management made
provision against cash embezzlement in note- 26.00 (ii).

12.00 BSFIC Current Account

Sugar:
Opening Balance 2,797,831,413 2,531,074,273
Add: Addition during the year 1,714,301,178 817,421,287
16
 Amount in Taka
Notes Particulars
30-06-2023 30-06-2022

4,512,132,591 3,348,495,560
Less: Adjustment during the year 1,143,407,091 550,664,147
Closing Balance 3,368,725,500 2,797,831,413

17
 Amount in Taka
Notes Particulars
30-06-2023 30-06-2022

13.00 Inter Project Current A/C Opening Addition Adjustment

Jaypurhat Sugar Mills Ltd. 10,047,364 74,752,899 84,616,437 183,826 10,047,364
Shyampur Sugaar Mills Ltd. 7,513,933 5,243,769 3,539,921 9,217,781 7,513,933
Zealbangla Sugar Mills Ltd. 191,436 - 191,436 - 191,436
Pabna Sugar Mills Ltd. - 2,976,061 1,584,060 1,392,001 -
Mabarakganj Sugar Mills Ltd. - 83,540,406 74,465,420 9,074,986 -
Renwick & Jajneswer Co. 20,308,140 20,760,783 36,642,275 4,426,648 20,308,140
Panchagar Sugar Mills Ltd. - 5,958,214 5,768,212 190,002 -
Nator Sugar Mills Ltd. - 30,605,752 28,565,112 2,040,640 -
Faridpur sugar Mills Ltd., Faridpur 2,865,497 65,398,435 65,684,848 2,579,084 2,865,497
Rajshahi Sugar Mills Ltd.Rajshahki 7,364,698 - 7,364,698 - 7,364,698
Rangpur Sugar Mills - 2,480,474 1,487,889 992,585 -
Closing Balance 48,291,068 291,716,794 225,293,871 30,097,555 48,291,068

14.00 Advance, Loan, Deposits & Prepaymets:

Sugar Unit:
Salary Note 14.01 339,134 985,009
Suppliers Note 14.02 6,679,867 2,955,827
Advance against Imprest Cash 2,500 -
TA/DA 9,189 14,656
Advance against Expenses 609,182 716,754
Current Month Salary 1,883,458 1,294,877
Loans Note 14.03 45,752,606 43,942,986
Deposit & Prepayments Note 14.04 2,725,299 3,857,532
Advance against Gowers Wallet - 3,506,092
Loans to staff from welfare fund 1,677,548 1,462,467
Advance Against Fertilizer & Bioside for Growers 736,402 -
Cashier Advance 25,000 -
Sobeborat Advanced 383,410 1,058,960
Sub Total 60,823,595 59,795,160

Distillery:
Deposit of excise duty & pass fee:
Bangladesh made foreign liquor 23,517,111 13,012,091
Denatured sprit 1,314,951 553,002
Rectified sprit 3,282,699 154,472
Absolute alcohol 79,362 103,024
Excise Duty:
Dhaka & Chittagong sales office closing stock 3,792,946 2,491,496
Coxes Bazar Sales office closing stock 1,273,780 -
Vide challan no #32 (18.03.1950) 1,000 1,000
Sub Total 33,261,849 16,315,084

Pharmaccutical
Deposits & Prepayment 1,026 292
Sub Total 1,026 292

Commercial Farm
Meherpur Deposits 46,200 -
Utpol Kummar (FS) Salary & Wages 4,000 4,000
Sub Total 50,200 4,000

Experimental (Akandobaria) Farm

Daily Wages contact labour - -
Sub Total - -

Jaibo Shar (Bio-Fertilizer)

Security Deposit to PDB (Meherpur Palli Bidut Samity) 370,400 370,400
Sub Total 370,400 370,400
Grand Total 94,506,044 76,484,644

18
 Amount in Taka
Notes Particulars
30-06-2023 30-06-2022

14.01 Salary
Recoverable Cane & Fartilizer Shortage - 357,709
Recoverable from Nizamuddin, seasonal Drawn (Cash embazalment) 178,182 379,429
Saiful Islam D.M. (Accounts) - 59,489
Minarul Islam S.A.CDO - 1,430
Aftabuzzaman S.A.CDO Farm 160,952 186,952
Closing Balance 339,134 985,009
Grand Total

14.02 Suppliers
Chittagong Steel Mills Ltd. - 105,835
Traning Institute For Chemical . Dhaka - 68,280
Linde Bangladesh Ltd, Jessore 927,815 -
Rahman Law Associates, Dhaka 144,000 144,000
National Tube Ltd, Dhaka - 844,068
Connect Distribution Ltd, Jessore 57,159 57,159
Padma Oill Company, Khulna 3,721,893 572,359
Chowdhury Enterprise, Dhaka - 80,000
Paradise Carbon Industrise Chittagong 176,852 171,697
Gazi ware limited Dhaka/Chittagong - 268,646
Rahim Steel Mills Limited, Dhaka 11,000 -
BSRM steel mills Khulna 1,641,148 643,783
Sub Total 6,679,867 2,955,827

14.03 Loans
Motor cycle/ Bi-cycle 959,641 1,113,720
Growers new loan 27,795,574 25,984,122
Interest receivable form growers 2,501,257 2,338,571
Growers old loan 14,496,134 14,506,573
Sub Total 45,752,606 43,942,986

14.04 Deposit & Pre-payments

Security with PDB for electrification:
Security with ware house 15,596 15,596
Chuadanga cane purchase center 100 100
Sugar factory @ 21.06.1977 45,000 45,000
Security with (BD) oxyegen: - -
For gas cylinder 2 30.06.1985 43,500 43,500
For 6pcs gas cylinder @03.09.1991 12,000 12,000
Security with T&T for Telephone installation: - -
For Telephone installation at Dhaka head office @ 12.02.1986 15,000 15,000
For 3 pcs Telephone set at Darshana @ 07.10.1989 3,000 3,000
Pre-paid Insurance Premium paid to SBC 1,648,307 1,382,016
Security deposit with meherpur palli biddut 341,320 341,320
Progati Life Insurance 601,476 2,000,000
Sub Total 2,725,299 3,857,532

15.00 Cash and cash equivalents

Cash in hand 549,727 261,602
Cash at Bank Note 15.01 1,875,876,926 1,718,288,440
1,876,426,653 1,718,550,043
15.01 Cash at Bank
Janata Bank, Current A/C No-1342 10,388,265 49,601,806
Janata Bank, STD A/C No-0028 650,672,268 997,840,029
Janata Bank, Darsana, A/C No-61128 92,332,379 162,162,404
Janata Bank, Sheak Mujib Road, Chittagong, A/C No-3785 98,401 96,655
Janata Bank, Dilkusha, Corporate Branch, A/C No-37731 (STD-109) 23,572,992 56,774,149
Rupali Bank, Damurhuda, A/C No-00643 24,816,827 51,591,277
State Bank of India, Dhaka 63,785 63,785
State Bank of India, Dhaka 130,335 130,335
State Bank of India, Dhaka 28,000 28,000
Sonali Bank, A/C- 0800 55,482,523 -

19
 Amount in Taka
Notes Particulars
30-06-2023 30-06-2022

Janata Bank, Darsana, A/C No-28334 (FDR) 209,145,576 200,000,000

Janata Bank, Darsana, A/C No-43023 (FDR) 209,145,576 200,000,000
Janata Bank, Darsana, A/C No-67830 (FDR) 200,000,000 -
Agrani Bank, Darsana, A/C No-57460 (FDR) 100,000,000 -
Janata Bank, Darsana, A/C No-54261 (FDR) 100,000,000 -
Janata Bank, Darsana, A/C No-60732 (FDR) 100,000,000 -
Janata Bank, Darsana, A/C No-64673 (FDR) 100,000,000 -
Total 1,875,876,926 1,718,288,440

16.00 Share Capital:

a) Authorized Capital:
100000 preference shares of Tk.100 each 10,000,000 10,000,000
100000 Ordinary shares of Tk.100 each 10,000,000 10,000,000
20,000,000 20,000,000

b) Issued & Subscribed Capital:

1000 Ordinary shares of Tk.100 each 100,000 100,000

© Called up and paid up Capital:

27 Ordinary shares of Tk.100 each fully paid 2,700 2,700
973 Ordinary shares of Tk.100 each fully paid of which Tk. 5 each was called up & paid up 4,865 4,865
7,565 7,565
17.00 Government Equity:
Sugar:
SM & RF scheme 40% 2,403,821 2,403,821
2,403,821 2,403,821
ICD project:
One (1) Acre Land 166,000 166,000
Six (6) Motor Cycle ( 100 CC ) 341,400 341,400
Twelve (12 ) By-Cycles 42,500 42,500
One (1) Pick up van 420,970 420,970
Funniture & Fixtures 25,000 25,000
995,870 995,870
Sub-total 3,399,691 3,399,691

Jaibo shar (Bio-Fertilizer)

ADP Grant 28,765,200 28,765,200
28,765,200 28,765,200
Closing Balance 32,164,891 32,164,891

18.00 Reserve
Capital Reserve: (A)
Sugar 17,295,407 17,295,407
Distiliery 213,778 213,778
Commercial Farm 917,268 917,268
Akandobaria Farm 1,999,927 1,999,927
Sub-Total: 20,426,380 20,426,380
General Reserve (Sugar) (B) 1,273 1,273
Total (A+B) 20,427,653 20,427,653

19.00 Government and Other Grants:

Australian Grant (BASIP) ICDS phase-II:
Opening Balance 1,429,864 1,429,864
Less: Adjusted this year by depreciation against its assets - -
Closing Balance 1,429,864 1,429,864

20
 Amount in Taka
Notes Particulars
30-06-2023 30-06-2022

20.00 Long Term Loan:

Sugar:
A) Foreign Loan: Belgium Credit 2,699,000 2,699,000

B) ADP Loan ( For Golden Handshake) 26,369,060 26,369,060

C) Loan Fram Govt. of BD (Againest Vortuki) 4,934,365 4,934,365

D) Govt. of Bangladesh Loan 13,105,999 -

E) Cash Credit Loan:

Opening balance 260,460,421 237,951,131
Less: Installment paid through Head Office - -
260,460,421 237,951,131
Add: Addition and Accrued interest 24,645,086 22,509,290
Closing Balance 285,105,507 260,460,421
Sub-Total (A+B+C+D+E) 332,213,931 294,462,846

Distillery:
A) Foreign Loan: Indian state credit 33,208,554 33,208,554
B) ADP Loan 14,941,954 14,941,954

Total (A+B) 48,150,507 48,150,507

Commercial Farm:
A) Foreign Loan - U. K. Project grant 3,269,945 3,269,945

Jaibo Shar (Bio- Fertilizer)

A) ADP Loan 43,147,800 43,147,800
B) Interest on ADP Loan 17,259,120 15,101,730
Total (A+B) 60,406,920 58,249,530
Grand Total. 444,041,303 404,132,828

21.00 Leave pay and Gratuity:

Leave Pay 21.01 143,054,377 126,269,072
Gratuity 21.02 510,704,930 502,534,500
Closing Balance 653,759,307 628,803,572

21.01 Leave Pay:

Opening Balance 125,594,523 121,566,449
Addition during the year 24,830,120 12,683,979
150,424,643 134,250,429
Paid during the year 7,370,266 7,981,357
Closing Balance 143,054,377 126,269,072

21.02 Gratuity:
Opening Balance 503,209,049 500,018,288
Addition during the year 99,320,480 114,155,814
602,529,529 614,174,102
Paid during the year 91,824,599 111,639,602
Closing Balance 510,704,930 502,534,500

21
 Amount in Taka
Notes Particulars
30-06-2023 30-06-2022

22.00 Secured Loans:

Cane development loan
(i) Janata Bank Limited AC No-0100169683241 (2014-2015)
Opening balance 298,841,695 275,871,469
Add: Interest during this year 22,615,058 22,970,226
321,456,753 298,841,695
Less: Repayment durirng this year 22,500,000 -
Closing Balance 298,956,753 298,841,695

(ii) Janata Bank Limited AC No-0100169683284 (2015-2016):

Opening balance 661,473,545 627,795,613
Add: Interest during this year 51,468,926 51,677,932
712,942,471 679,473,545
Less: Repayment durirng this year 32,500,000 18,000,000
Closing Balance 680,442,471 661,473,545

(iii) Janata Bank Limited AC No-0100169683322 (2016-2017):

Opening balance 771,388,058 711,887,419
Add: Interest during this year 62,507,974 59,500,639
833,896,032 771,388,058
Less: Repayment durirng this year 2,500,000 -
Closing Balance 831,396,032 771,388,058

(iv) Janata Bank Limited AC No- 0100169683403 (2018-2019):

Opening balance 807,122,221 748,547,231
Add: Interest during this year 65,352,305 62,574,990
872,474,526 811,122,221
Less: Repayment durirng this year 2,500,000 4,000,000
Closing Balance 869,974,526 807,122,221
Grand Total: 2,680,769,782 2,538,825,518

22
 Amount in Taka
Notes Particulars
30-06-2023 30-06-2022
23.00 Inter Project current account:
Opening Addition Adjustment
Zealbangla Sugar Mills Ltd. - 33,285,576 20,020,438 13,265,138 -
Kushtia Sugar Mill Ltd. Jagoti, Kushtia 28,131,830 29,899,368 38,521,906 19,509,292 28,131,830
North Bengal Sugar Mills Ltd., Natore 49,313,366 190,114,837 185,478,381 53,949,822 49,313,366
Shetabgonj Sugar Mills Ltd 3,564,758 15,949,649 13,700,403 5,814,005 3,564,758
Natore sugar Mills, Gopalpur, Natore 9,508,272 - 9,508,272 - 9,508,272
Panchagar Sugar Mills Ltd., Panchagar 608,067 - 608,067 - 608,067
Shipping Office Chittagong 6,934 - - 6,934 6,934
Mubarkganj Sugar Mills LTd, Jenaidah 76,327 - 76,327 - 76,327
Amin Agency Ltd. (1947) 110,423 - 110,423 - 110,423
Thakurgaon Sugar Mills Ltd. 14,846,398 113,823,970 90,381,793 38,288,575 14,846,398
Pabna Sugar Mills Ltd. 2,828,942 - 2,828,942 - 2,828,942
Rangpur Sugar Mills Ltd. Mohimaganj 91,196 - 91,196 - 91,196
Rajshahi Sugar Mills Ltd.Rajshahi - 87,258,720 72,459,999 14,798,722 -
Grand Total 109,086,514 470,332,120 433,786,146 145,632,487 109,086,514

24.00 Creditors:
Provision for Expenses (Note-24.01)
Sugar 68,615,298 61,342,308
Distiliery 62,064,417 59,120,406
Commercial Farm 7,844,121 7,624,671
Akandobaria Farm 143,640 176,450
Total 138,667,476 128,263,835

Creditors for goods supplied (Note-24.02)

Sugar 42,069,194 77,726,119
Creditors for others finance (Note-24.03)
Sugar 139,541,090 133,149,676
Distiliery 4,443,946 3,636,415
Pharmaccutical 62,004 58,124
Commercial Farm 55,000 55,000
Total 144,102,040 136,899,216

Grand Total 324,838,709 342,889,169

24.01 Provision for Expenses

(i) Sugar: Amount in Taka
Opening Addition Adjustment 30-06-2022 30-06-2021
Provision for legal and audit fees 136,000 245,000 95,000 286,000 136,000
Provision for interest on foreign loan 28,030,750 1,727,111 - 29,757,861 28,030,750
Provision for rent, rates and taxes 111,125 20,000 111,125 20,000 111,125
Provision for TA/DA expenses 355,954 187,223 355,954 187,223 355,954
Provision for salary and wages 25,178,727 21,617,502 24,628,355 22,167,874 25,178,727
Provision for repair and maintenance 454,311 - 454,311 - 454,311
Provision for miscellanous 2,926,511 12,517,267 2,710,161 12,733,617 2,926,511
Provision for group term Insurance 3,528,540 7,243,200 8,021,057 2,750,683 3,528,540
Outstanding Liabilities 459,441 99,330 13,830 544,941 459,441
Outstanding Cane Price Growers 82,219 - - 82,219 82,219
Provision for revenue stamp (Employe) 78,730 84,880 78,730 84,880 78,730
61,342,308 43,741,513 36,468,523 68,615,298 61,342,308

(ii) Distiliery:
Opening Addition Adjustment
Provision for ADP interest 21,165,759 - - 21,165,759 21,165,759
Provision for IDBI interest 1,102,980 - - 1,102,980 1,102,980
Provision for Indian credit interest 33,208,554 - - 33,208,554 33,208,554
55,477,293 - - 55,477,293 55,477,293

21
 Amount in Taka
Notes Particulars
30-06-2023 30-06-2022
Provision for other expenses
Opening Addition Adjustment
Provision for VAT on sales 3,643,113 208,355,823 205,411,812 6,587,124 3,643,113
Sub-Total 3,643,113 208,355,823 205,411,812 6,587,124 3,643,113

Total creditors for distiliery 59,120,406 208,355,823 205,411,812 62,064,417 59,120,406

(iii) Commercial Farm: Opening Addition Adjustment

U.K loan and interest 6,201,321 - - 6,201,321 6,201,321
Land Lease Security 107,600 890,000 96,100 901,500 107,600
TA/DA expenses - - - - -
Salary & wages 1,315,750 54,195,330 54,769,780 741,300 1,315,750
Electricity and patrol - - - - -
Sub-Total 7,624,671 55,085,330 54,865,880 7,844,121 7,624,671

(iv) Akandabaria Farm Opening Addition Adjustment

Salary & wages (Parmanent) 176,450 6,585,750 6,618,560 143,640 176,450
Sub-Total 176,450 6,585,750 6,618,560 143,640 176,450

24.02 Creditors for goods supplied:

(i) Sugar:
Other Party: Opening Addition Adjustment
Rejib Ahmed ( Raju), Darsana 59,750 - - 59,750 59,750
Resco Enterpeise, Darsana 634,590 15,497,121 16,114,890 16,821 634,590
Dhaka Metal & Machinery stores, Darshana - 9,679,846 6,874,445 2,805,401 -
Lucky Motors, Jessore - 999,140 992,283 6,857 -
T.S.P Complex, Chittagong 19,620,000 15,086,680 34,706,680 - 19,620,000
Fitting House Osman Goni - 45,000 - 45,000 -
Nokon Ltd, Dhaka 95,898 - - 95,898 95,898
M/S Jakarullah & Brothers, Jibannagar - 25,000,000 - 25,000,000 -
Computer Clinic, Chuadanga. - 383,414 336,176 47,238 -
Rangs Motor Ltd. Dhaka 4,888,213 - - 4,888,213 4,888,213
D2 S Engineering. Dorsana 1,296,855 2,498,000 3,794,855 - 1,296,855
Corona service Ltd. Dhaka 160,250 1,105,041 1,105,041 160,250 160,250
Prime Automobile Ltd, Dhaka 8,909,556 - - 8,909,556 8,909,556
B.I.T.A.C.Khulna, 32,485 1,025,180 1,025,180 32,485 32,485
Jamuna fertilizer Co. Ltd, Jamalpur 15,400,000 15,400,000 - 15,400,000
Deposite Against sale of sugar - 1,726 - 1,726 -
J.S.M Mineral water & PET Ind 6,945,211 68,518,160 75,463,371 - 6,945,211
Liton Engineering works, Darsana 29,950 9,426,238 9,456,188 - 29,950
Bhai Bhai Engineering workshop, Darsana 1,162,605 3,649,418 4,812,023 - 1,162,605
Shawpna Traders, Rajshahi 1,437,830 - 1,437,830 - 1,437,830
Faruque Ahmmed, darsana, Him Dran 4,596,000 - 4,596,000 - 4,596,000
Masud Engineering Workshop, Darsana 2,984,220 4,350,000 7,334,220 - 2,984,220
National Engineering Works, Rajshahi 905,000 - 905,000 - 905,000
M.R Enterprise, Darsana 979,000 - 979,000 - 979,000
S.K Corporetion, Dhaka 40,000 - 40,000 - 40,000
Saiful Hasan Joarder, Chuadanga 30,450 4,803,926 4,834,376 - 30,450
M.M Selim, Chuadanga 200,047 - 200,047 - 200,047
Marshal Agrovat Chamical Ltd. 5,530,000 - 5,530,000 - 5,530,000
Mahafuz Engineering Works 1,788,210 - 1,788,210 - 1,788,210
Total 77,726,119 162,068,890 197,725,815 42,069,194 77,726,119

24.03 Creditors for others finance:

(i) Sugar:
Opening Addition Adjustment
Carews Workers & employees union 289,625 1,035,690 991,984 333,331 289,625
General club 15,055 29,820 28,000 16,876 15,055
Officers benevolent fund 77,500 654,000 516,000 215,500 77,500
Staff Walfare fund 9,737 454,070 453,045 10,762 9,737

22
 Amount in Taka
Notes Particulars
30-06-2023 30-06-2022
Growers walfare fund 88,121 1,248,424 47,907 1,288,638 88,121
Income tax realized from party 146,244 17,624,826 17,754,107 16,963 146,244
Officers association 459,886 3,401,047 3,632,214 228,719 459,886
Mosque fund 27,870 26,210 30,500 23,580 27,870
Carew's Darul Quran (Hafeje Madrasha) 161,765 298,340 161,634 298,471 161,765
VAT realized from Contractors 959,906 17,095,836 17,038,637 1,017,105 959,906
Realized from retired person (For audit) 40,506,915 17,529,633 8,623,376 49,413,172 40,506,915
Staff benevolent fund 305,800 4,007,400 3,755,200 558,000 305,800
Excess realized from employee 363,482 14,400 77,703 300,179 363,482
Refundable excess realized dadon 6,331 - - 6,331 6,331
Carews Bohomukhi somobai Samitee' 12,500 - - 12,500 12,500
Carews ladies club 19,425 39,915 59,340 - 19,425
Donation for deccased person 64,768 295,570 313,270 47,068 64,768
Workers profit participation fund 33,914,466 44,487,261 33,914,466 44,487,261 33,914,466
President relif fund 322,440 - - 322,440 322,440
Walfare fund 1,983,277 - 323,513 1,659,764 1,983,277
Carews high school 2,350,052 672,023 1,050,751 1,971,324 2,350,052
Bangladesh Cane Research Institute 3,468,577 5,400 3,468,577 5,400 3,468,577
Prokolpo Onudan Fund - 8,040,000 8,000,000 40,000
Officer's Claub 13,157 345,550 357,234 1,473 13,157
Sugar sales Tax - 2,227,140 1,622,340 604,800 -
ETP Project - 814,760 - 814,760 -
Akchashi Federation (Kallayan) 147,910 40,632 96,889 91,653 147,910
Sub-Total 85,714,807 120,387,947 102,316,686 103,786,068 85,714,808

Others: Opening Addition Adjustment

Security and other deposits 10,774,062 12,331,020 11,305,592 11,799,489 10,774,062
Security deposits for Dokan 19,200,000 1,700,000 2,200,000 18,700,000 19,200,000
Sequrity Deposit for Sugar 668,943 - - 668,943 668,943
Staff security (by name) 2,500 - - 2,500 2,500
Income tax on salary Income 257,498 1,046,053 997,968 305,583 257,498
Sub-Total 30,903,003 15,077,073 14,503,560 31,476,516 30,903,003
Provident Fund and other Funds Opening Addition Adjustment
Employees contribution 198,211 12,451,129 10,578,700 2,070,640 198,211
Employer contribution 4,164,321 11,323,918 6,500,000 8,988,239 4,164,321
Loan Recovered from staff 11,269,779 13,495,108 32,557,095 (7,792,208) 11,269,779
Loan Recovered from officer 24,500 5,249 - 29,749 24,500
Advacne against PF Fund 503,827 21,000 - 524,827 503,827
Others trust 309,227 2,706,963 2,610,931 405,259 309,227
Profit Bonus 62,000 5,859,575 5,869,575 52,000 62,000
Sub-Total 16,531,866 45,862,942 58,116,301 4,278,507 16,531,866

Total (Sugar) 133,149,676 181,327,962 174,936,548 139,541,090 133,149,676

(ii) Distiliery:
Balance of advance from customers: Opening Addition Adjustment
Darsana Customer Ledger Balance 975,570 2,468,663 975,570 2,468,663 975,570
Dhaka Sales Office 2,660,845 1,975,283 2,660,845 1,975,283 2,660,845
Sub-Total 3,636,415 4,443,946 3,636,415 4,443,946 3,636,415

(iii) Pharmaccuitical
Opening Addition Adjustment
Vat Payable and others 58,124 197,822 193,943 62,004 58,124
Sub-Total 58,124 197,822 193,943 62,004 58,124

(iv) Commercial Farm:

Opening Addition Adjustment
M/S Shamsul Haq & Others 10,000 - - 10,000 10,000
M/S Abul Hossain & Others 45,000 - - 45,000 45,000
Sub-Total 55,000 - - 55,000 55,000

Note: The amount was taken by the company as security deposit against​ a land lease in 1961 from Shamsul Haque & Abul
Hossain.

23
 Amount in Taka
Notes Particulars
30-06-2023 30-06-2022

25.00 Provision for Income Tax:

Distiliery
Opening Balance 196,345,951 89,244,423
Add: Addition during this year 244,679,933 186,529,564
441,025,884 275,773,987
Less: Repayment durirng this year 222,297,967 79,428,036
Closing Balance 218,727,918 196,345,951

26.00 Provision for bad & Doubtful Debts:

i) Sugar:
Opening Addition Adjustment
Fixed assets transferred by head office 274,664 - - 274,664 274,664
STD A/C with state Bank of India 63,785 - - 63,785 63,785
Cash credit with State Bank of India 130,335 - - 130,335 130,335
Security deposit with State Bank of India 28,000 - - 28,000 28,000
Acc. Cane loan 1974-75 to 1997-98 14,553,417 - 14,553,417 14,553,417
Total 15,050,201 - - 15,050,201 15,050,201

ii) Distiliery Unit:

Opening Addition Adjustment
Provision for Bad & Doubtfull debt 6,996,175 3,141,107 - 10,137,282 6,996,175
6,996,175 3,141,107 - 10,137,282 6,996,175

Grand Total 22,046,376 3,141,107 - 25,187,483 22,046,376

24
 Amount in Taka
Notes Particulars 01-07-2022 01-07-2021
to to
30-06-2023 30-06-2022
27.00 Sales:
A) Sugar
Government Account 67,911,000 14,222,100
Free Sale 7,276,000 281,554,500
Head office 35,156,000 24,170,000
Workers 5,618,250 4,216,141
Growers Accounts 24,555,700 19,379,550
Sales of army 109,129,849 179,426,822
Net Sales 249,646,799 522,969,113

B) Distiliery:
Country Spirit 846,075,955 697,280,230
Rectified spirit (Original) 8,940,867 11,400,195
Rectified spirit (Homeo) 4,769,161 4,355,734
Denatured spirit (Ltr.) 85,738,747 95,973,396
Absolute alcohol 1,174,386 1,322,504
Bangladesh made foreign liquor 3,442,430,107 2,874,773,915
Gross Sales 4,389,129,221 3,685,105,975
Less: Excise duty 1,031,493,792 772,159,850
3,357,635,429 2,912,946,125
Less: VAT and other charge 222,012,947 185,671,181
Net Sales 3,135,622,482 2,727,274,944

C) Pharmaccutical
Non-Spirituous medicine (vinegar) 2,575,886 2,014,520
Couchouicine 500,000 700,000
Gumpest - -
Hand Sanitizer 25,000 3,154,550
Battery Acid 52,500 26,250
Caramel 286,000 253,000
Others - -
Gross Sales 3,439,386 6,148,320
Less: Sales Return (Vinegar) - 38,570
3,439,386 6,109,750
Less: VAT and other charge 334,805 673,351
Net Sales 3,104,581 5,436,399

D) Commercial Farm:
Sugar cane transferred to sugar unit 66,422,285 36,837,280
Sales to others farms 75,739 -
Cane seed suplied to growers 16,261 1,377,710
Value of sugar cane used (as seed ) 10,952,600 3,419,507
Other crops: Mustard, Lentil,Mug,Kumra,Till, Kalai 15,138,113 5,677,599
Total Sales 92,604,998 47,312,096

25
 Amount in Taka
Notes Particulars 01-07-2022 01-07-2021
to to
30-06-2023 30-06-2022
E) Experimental Farm AKB:
Sugar cane transferred to sugar unit (M-Ton) 7,103,011 4,339,899
Cane seed suplied to other Farm 861,166 394,453
Cane seed suplied to growers 1,984,210 1,879,610
Use Seed for Laboratory test 4,600 -
Cane seed supplied to own farm 1,614,600 1,348,020
Others crops Mustard, Lentil,Mug,Kumra,Till, wheat 847,050 1,395,472
Total Sales 12,414,637 9,357,454

F) Jaibo shaar (Bio-Fertilizer)

Sale of products 12,352,350 22,743,250
Grand Total (A+B+C+D+E+F) 3,505,745,847 3,335,093,256

26
Notes: 28.00 Cost of Goods Sold Amount in Taka
01-07-2022 01-07-2021
Pharmaceutica Commercial Akandabaria Jaibo Sar (Bio-
Particular Notes Sugar Distillery to to
l Works Firm Firm (Exper) Fertilizer)
30-06-2023 30-06-2022

A) Opening Work in process 06.01 756,280 - - - - - 756,280 943,740

B) Materials Consumed :
Raw material including incidentals 28 221,814,172 682,544,558 253,852 8,164,639 1,348,021 8,316,531 922,441,771 761,435,177
Other production materials 28 2,772,664 13,002,585 - 10,108,216 1,716,455 - 27,599,920 27,214,957
Packing materials 28 3,341,823 112,362,569 2,317,577 - - - 118,021,969 82,849,049
Total Materials Consumed 227,928,658 807,909,712 2,571,429 18,272,855 3,064,475 8,316,531 1,068,063,661 871,499,183

C) Factory Salaries & Wages:

Factory Salaries & Wages (Parmanent) 28 230,100,684 114,374,957 463,033 - - 3,349,409 348,288,083 318,488,990
Factory Salaries & Wages (Seasonal) 28.1 64,744,796 - - - - 64,744,796 73,886,098
Total Factory Salaries & Wages 294,845,480 114,374,957 463,033 - - 3,349,409 413,032,879 392,375,088

D) Factory overhead:
Insurance 28.1 2,058,652 - - - - 2,058,652 3,061,952
Repairs & maintenance 28.1 6,957,473 11,599,002 48,914 2,752,882 93,174 1,361,159 22,812,604 24,532,898
Power & fuel 28.1 23,732,911 209,956,905 - 9,998,608 894,282 1,825,269 246,407,975 182,549,402
Depreciation - 11,000,233 2,137 5,285,272 254,150 5,632,845 22,174,637 21,675,659
Other Factory Overhead 28.1 27,078,022 - - - - - 27,078,022 24,495,401
Plantation & other operation 28.10 - - - 24,053,583 4,588,014 - 28,641,597 24,498,974
Harvesting and transportation 28.1 - - - 11,713,552 1,063,959 - 12,777,511 7,500,238
Total Factory overhead: 59,827,059 232,556,140 51,051 53,803,897 6,893,579 8,819,273 361,950,999 288,314,523

Work Cost (A+B+C+D) 583,357,477 1,154,840,809 3,085,513 72,076,752 9,958,055 20,485,213 1,843,803,818 1,553,132,534
Less: Closing work in process 1,173,000 - - - 1,173,000 756,280
Cost of production 582,184,477 1,154,840,809 3,085,513 72,076,752 9,958,055 20,485,213 1,842,630,818 1,552,376,254
Add: Opening stock of finished goods 37,505,400 81,091,830 585,719 694,008 - 4,903,470 124,780,427 395,999,007
Goods available for sales 619,689,877 1,235,932,639 3,671,232 72,770,760 9,958,055 25,388,683 1,967,411,245 1,948,375,261
Less: Closing stock of finished goods 32,260,000 102,847,001 632,474 1,215,000 - 18,229,120 155,183,595 124,780,427
Cost of Goods Sold 587,429,877 1,133,085,638 3,038,758 71,555,760 9,958,055 7,159,563 1,812,227,650 1,823,594,834

26
 27

Amount in Taka
01-07-2022 01-07-2021
Notes Particulars
to to
30-06-2023 30-06-2022
28.01 Raw materials Includiing Incedentals
Sugar:
Cost of Cane:
Mills gate 86,542,864 85,728,709
Road/Our center 49,288,015 54,019,022
Commercial farm 66,422,285 36,837,280
Other mills (KSM) 173,128 7,051,969
Akandabaria Farm 7,103,011 4,294,381
Less: Shortage Amount from Mills gate/center (4,517) (218,655)
Sub-total 209,524,786 187,712,705
Cost of Incidentals:
Loading and unloading 5,797,776 3,973,299
e-Gazetter & e-Purjee 559,969 29,960
Surcecash Service Charge (67,635) 1,120,704
Incidentals 319,175 775,878
Cane Healing Incentive 5,680,101 2,610,397
Sub-total 12,289,386 8,510,238
Total 221,814,172 196,222,943

Distillery:
Cost of Molasses:
Molasses from Sugar 60,080,033 69,629,951
Molasses from outside 606,311,603 480,393,336
Tranporatation cost 16,152,922 3,898,829
Total 682,544,558 553,922,116

Pharmaceutical: (Direct Materials)

Others 253,852 1,223,845
Total 253,852 1,223,845

Akandabaria Farm:
Sugar cane seed/ Others seed 1,348,021 1,011,638
Total 1,348,021 1,011,638

Commercial Farm:
Sugar cane seed/ Others seed 8,164,639 4,462,860
Total 8,164,639 4,462,860

Jaibo Shar (Bio-fertilizer):

Direct Materials and Others 8,316,531 4,591,776
Total 8,316,531 4,591,776
Grand Total 922,441,771 761,435,177

28.02 Other Production Materials:

Sugar:
Lime 1,792,755 1,852,500
Sulpher 1,141,462 837,427
Other chemicals (161,553) 597,758
Sub-total 2,772,664 3,287,685

27
 28

Amount in Taka
01-07-2022 01-07-2021
Notes Particulars
to to
30-06-2023 30-06-2022

Distillery:
Essence & Flavoring Materials 7,965,330 8,128,952
Pyridine 1,507,784 1,138,119
Couchochine - 700,000
Other chemicals 3,529,471 2,026,554
Sub-total 13,002,585 11,993,626

Pharmaceutical:
Other Chemical - -
Sub-total - -

Commercial Farm:
Pest Chemicals/ Chemicals - 2,431,145
Fertilizer/ Manure 10,108,216 8,016,975
Sub-total 10,108,216 10,448,120

Akandabaria Farm:
Pest control/Chemicals 278,880 337,455
Fertilizer/Menure 1,437,574 1,148,071
Sub-total 1,716,455 1,485,526
Grand Total 27,599,920 27,214,957

28.03 Packing Materials

Sugar:
Poly Bags 3,341,823 3,011,988
Sub-total 3,341,823 3,011,988

Distillery:
Bottle cork and labels 94,015,944 66,936,158
Other materials (Plastic container & packing) 18,346,625 10,877,878
Sub-total 112,362,569 77,814,035

Pharmaceutical:
Bottle, Level, Packing 2,317,577 2,023,025
Sub-total 2,317,577 2,023,025
Grand Total 118,021,969 82,849,049

28.04 Factory Salary & Wages (Permanent)

Sugar:
Cane procurement 35,978,867 28,151,344
Transportation 30,475,091 24,838,277
Crushing and mechanical 63,856,219 55,920,905

28
 29

Amount in Taka
01-07-2022 01-07-2021
Notes Particulars
to to
30-06-2023 30-06-2022
Sugar processing 9,586,289 6,914,103
Boiler/Steam geberation 8,897,226 11,264,122
Power generation 3,306,479 2,861,039
Electric maintenance 13,625,030 14,708,126
Civil maintenance 1,518,308 1,906,661
Cane development 62,857,175 55,461,699
Sub-total 230,100,684 202,026,276

Distillery:
Salary & Wages 62,408,965 69,426,803
Contract Labour 12,219,844 10,283,883
Other's Allowance (Incentive) 5,791,285 2,432,291
Overtime 33,954,863 30,253,335
Sub-total 114,374,957 112,396,312

Pharmaceutical:
Salary & Wages 463,033 877,973
Sub-total 463,033 877,973

Jaibo Saar (Bio-fertilizer):

Salary & Wages 3,349,409 3,188,429
Sub-total 3,349,409 3,188,429
Grand Total 348,288,083 318,488,990

28.05 Factory Salary & Wages (Seasonal):

Sugar:
Cane procurement 14,559,376 17,792,543
Transportation 12,559,501 15,149,673
Crushing and machanical 7,000,064 8,052,872
Sugar processing 25,951,844 28,631,719
Boiler/Steam generation 3,236,815 2,917,657
Power generation 61,542 -
Electric maintenance 1,338,840 1,216,157
Civil maintenance 5,974 46,440
Cane development 30,840 79,037
Total 64,744,796 73,886,098

28.06 Insurance:
Sugar:
Vehicle - 2,700
Boiler 200,743 193,719
Group Insurance (Permanent) 938,749 1,078,251
Group Insurance (Seasonal) 919,160 765,229
Sugar Godown - 935,429
Ins. Cash in transit & counter - 49,275
Open Policy - 37,349
Total 2,058,652 3,061,952

29
 30

Amount in Taka
01-07-2022 01-07-2021
Notes Particulars
to to
30-06-2023 30-06-2022
28.07 Repairs & Maintenance:
Sugar:
Transport Vehicle/ Other Factory supplies 3,939,718 5,442,848
Boiler/Steam & Others 3,017,755 5,126,764
Sub-total 6,957,473 10,569,612
Distillery:
Consumable Spares & Others 9,347,359 8,074,816
Other's Maintenance 2,251,643 1,950,306
Sub-total 11,599,002 10,025,122

Pharmaceutical:
Repairs & Maintenance of plant & machinery 48,914 234,912
Sub-total 48,914 234,912
Commercial Farm:
Repairs & Maintenance of plant & machinery 2,752,882 3,108,562
Sub-total 2,752,882 3,108,562

Akandabaria Farm:
Repairs & Maintenance 93,174 213,356
Sub-total 93,174 213,356

Jaibo Saar (Bio-fertilizer):

Repair & Maintenace 1,361,159 381,334
Sub-total 1,361,159 381,334
Grand Total 22,812,604 24,532,898

28.08 Power & Fuel:

Sugar:
Lubricants 1,845,531 2,185,687
Petrol/Octen 14,522 2,425
Diesel 12,118,310 7,780,001
Furnance oil /Fire wood 7,724,160 8,973,760
Electricity Purchase 1,979,196 1,603,891
Other Fuel 51,192 438,512
Sub-total 23,732,911 20,984,276

Distillery:
Diesel 15,428,274 10,180,865
Furnance oil & Lubricants 173,773,007 124,587,848
Power & Fuel 19,532,830 17,097,765
Other Fuel 1,222,794 1,120,335
Sub-total 209,956,905 152,986,813

Commercial Farm:
Oil & Lubricants 9,998,608 6,535,350
Sub-total 9,998,608 6,535,350

Akandabaria Farm:
Oil & Lubricants 894,282 805,211
Sub-total 894,282 805,211

30
 31

Amount in Taka
01-07-2022 01-07-2021
Notes Particulars
to to
30-06-2023 30-06-2022

Jaibo Saar (Bio-fertilizer):

Diesel and Lubricant 1,825,269 1,237,751
Sub-total 1,825,269 1,237,751
Grand Total 246,407,975 182,549,402

28.09 Other Factory Overhead:

Sugar:
Printing & stationery 299,192 180,137
Rent, rates & Taxes 1,482,349 1,745,279
Travelling expenses 1,143,047 1,568,219
Cane Development Expenses 1,557,818 1,351,265
Repair & Maintenance 21,538,316 18,418,307
Miscellaneous expenses 12,157 26,805
Postage, Telegram & Telephone 6,360 3,360
Stacking and Loading 469,360 828,841
Inaugural & entertainment 149,704 367,167
Legal Expenses 1,040 -
Staff Welfare Expenses (20,984) -
Training Expenses 425,887 -
Advertisement & publicity 13,776 6,020
Sub-total 27,078,022 24,495,401
Jaibo Saar (Bio-fertilizer):
Miscellameous Expenses - -
Sub-total - -
Grand Total 27,078,022 24,495,401

28.10 Plantation & Other Operation:

Commercial Farm:
Plantation 3,490,342 4,280,205
Intercultural operation 5,801,800 4,480,840
Mulching & Weeding 5,284,150 4,815,231
Irrigation 1,976,200 1,070,051
Other crops 5,892,816 4,686,521
Pest control/wages 1,608,275 869,418
Sub-total 24,053,583 20,202,266

Akandabaria Farm:
Plantation 977,214 977,214
Intercultural operation 1,141,766 1,136,766
Mulching & Weeding 1,654,472 1,654,472
Irrigation 55,013 53,513
Other seed/Crops (Including expenses) 663,482 379,538
Pest control/wages 96,067 95,205
Sub-total 4,588,014 4,296,708
Grand Total 28,641,597 24,498,974

31
 32

Amount in Taka
01-07-2022 01-07-2021
Notes Particulars
to to
30-06-2023 30-06-2022
28.11 Harvesting & Transportation:
Commercial Farm:
Harvesting contractor 11,713,552 7,188,636
Sub-total 11,713,552 7,188,636

Akandabaria Farm:
Harvesting contractor/Wages 1,063,959 311,602
Sub-total 1,063,959 311,602
Grand Total 12,777,511 7,500,238

29.00 Admintrative Overhead:

Sugar:
Salary & Wages (Seasonal) 3,640,494 4,032,744
Salary & Wages (Permanent) 77,202,744 80,321,070
Repairs & Maintenance 339,144 256,582
Printing & Stationary 771,486 778,353
Rents, rates and taxes 2,482,920 2,284,495
Insuracne 1,603,506 2,212,692
Traveling expenses 634,720 1,268,121
Postage, Telegram & Telephone 145,817 424,971
Inaugural & entertainment 1,203,393 1,588,831
Audit fee & legal expenses 580,859 567,012
Directors meeting attendance fee/ Remuneration 135,000 160,000
Advertisement & publicity 511,111 1,531,083
Bad debts 105,835 -
Head office overhead 66,352,826 120,000,000
Power & Fuel 247,727 504,207
Miscellaneous expenses 569,079 1,786,088
Donation 137,000 338,000
Stacking and loading 62,216 88,714
Staff welfare Expenses 1,497,040 1,277,385
Deprection 11,654,228 10,746,991
Training Expenses 214,068 159,569
Sub-total 170,091,213 230,326,907

Distillery:
Salary & Wages 21,813,396 13,257,185
Staff welfare expenses 400,000 365,000
Printing & Stationery 555,263 550,456
Rent, rates and Taxs 5,497,310 7,790,741
Insurance 5,555,855 6,707,744
Travelling & conveyance 1,998,842 1,988,167
Postage & Telegram 58,665 58,985
Entertainment 1,442,716 1,351,457
Head office overhead 400,000,000 369,881,012
Professional and legal expenses 231,430 200,000
Miscellaneous 4,626,917 1,473,632
Advertisement 5,624,483 1,202,539
Sub-total 447,804,877 404,826,918

32
 33

Amount in Taka
01-07-2022 01-07-2021
Notes Particulars
to to
30-06-2023 30-06-2022

Pharmaceutial:
Salary and wages (Seasonal) - -
Travelling & conveyance 600 390
Stocking, loading and handling cost 30,341 58,236
Rent, rates and Taxs 10,164 -
Miscellaneous expenses 1,737 11,498
Fuel and Power - 274,449
Sub-total 42,842 344,573

Commercial Farm:
Salary & Wages (Permanent) 20,057,024 23,465,422
Salary & Wages (Casul) 26,287,709 20,136,790
Printing & stationery 8,629 4,781
Rent, rates & Tax (Land Revenue) 649,190 616,504
Insurance 145,327 124,135
Staff welfare 360,573 444,798
Traveling (TA/DA) 320,160 241,318
Entertainment 16,211 7,142
Audit fee & Legar expenses 23,660 25,930
Laoding & Unloading 221,435 183,750
Advertisement 23,788 10,613
Miscellaneous expenses 1,146,615 521,720
Sub-total 49,260,321 45,782,903

Akandabaria Farm:
Salary & Wages (Permanent) 890,484 372,090
Salary & Wages (Casual) 2,304,490 1,778,727
Rent, rates & Tax (Land Revenue) - 55,258
Insurance 3,101 3,359
TA/DA 4,256 3,413
Uniform - 4,000
Other miscellaneous expenses 39,733 10,907
Electricity expenses 17,510 2,832
Entertainment 236 3,450
Printing and stationery 6,031 2,770
Audit Fee and Legal Fee 55,258 -
Sub-total 3,321,099 2,236,806

Jaibo Shar (Bio-fertilizer)

Repair & maintenance - -
Rent, rates & taxes 10,750 27,230
Travel & conveyance 33,133 20,195
Stacking & loading 356,427 135,002
Printing & Stationery 1,600 1,111
Miscellaneous (Entertainment) 10,831 1,710
Sub-total 412,741 185,248
Grand Total 670,933,092 683,703,356

33
 34

Amount in Taka
01-07-2022 01-07-2021
Notes Particulars
to to
30-06-2023 30-06-2022
30.00 Selling and Distrubution Overhead
Sugar:
Salary & wages (Permanent) 1,673,142 1,132,424
Deprection - -
Inaugurals Cerimonies - -
Insurance 536,806 124,273
Inaugural & entertainment 14,505 7,205
Travelling & Conveyance 159,635 127,908
Stacking & Loading 1,239,602 1,521,560
Repair & Maintenance 10,578 700
Printing & Stationary 13,910 8,000
Sub-total 3,648,178 2,922,070

Distillery:
Advertisement - -
Freight outward (Stacking, Laoding, Docking & Handling) 1,679,374 2,643,283
Sub-total 1,679,374 2,643,283

Pharmaceutial:
Advertising and publicity - -
Sub-total - -
Grand Total 5,327,552 5,565,353

31.00 Financial expenses

Sugar:
Interest on loan & credit 200,904,545 196,783,250
Bank charge 563,412 528,829
Sub-total 201,467,957 197,312,079

Distillery:
Interest on loan & creditors 24,645,086 19,524,160
Bank charge 259,920 246,984
Sub-total 24,905,006 19,771,144

Pharmaceutical:
Interest on loan & credit - -
Sub-total - -

Commercial Farm:
Interest on loan - 195,130
Sub-total - 195,130

Akandabaria Farm
Interest on fund - 30,000
Sub-total - 30,000

Jaibo Shar (Bio-fertilizer)

Interest on loans 2,157,390 2,157,390
Sub-total 2,157,390 2,157,390
Grand Total 228,530,354 219,465,744

34
 35

Amount in Taka
01-07-2022 01-07-2021
Notes Particulars
to to
30-06-2023 30-06-2022

32.00 Other Income

Sugar:
Security forfeited 255,600 69,542
Others miscellaneous income 414,977 472,361
Rent income from shops 605,120 693,520
Overhead charges 3,135 43,880
Sale of empty container and Scrap 2,249,800 -
Land Lease 458,263 509,862
Interest From Bank 18,461,816 6,633,329
Interest of FDR 18,291,152 -
Sugar mill dealer - 2,760
Sub-total 40,739,863 8,425,254
Distillery:
Others 10,464,160 8,060,280
Bank Interest - 2,814
Sub-total 10,464,160 8,063,094

Pharmaceutical
Miscellaneous income - 119,513
Others -
Sub-total - 119,513
Commercial Farm:
Cane transportation Income 4,923,584 2,129,688
Lease of date tree 114,200 161,460
Lease of Land 24,183,645 17,620,149
Lease of Pond 200,000 -
Sales of Pumkin Seed 405,000 -
Irregular System Adjustment (12,200) -
Sales of Mango, Cocunut, Date Juice & Jake fruit 246,744 351,200
Sales of wood 424,906 1,135,176
Sales of Poteto 15,240 -
Sub-total 30,501,119 21,397,673
Akandabaria Farm:
Cane transportation income 403,015 248,584
Lease of land 1,520,000 1,040,800
Sales of Fire wood 328,085 -
Sub-toal 2,251,100 1,289,384
Jaibo Shar (Bio Fertilizer):
Miscellsneous Income 10,950
Sub-toal - 10,950
Grand Total 83,956,242 39,305,868

33.00 Workers Profit Participation Fund

Distillery 44,487,261 33,914,466
Total 44,487,261 33,914,466

34.00 Events after the Reporting Period

i) The Board of Directors in its meeting held on ……………………………. Approved the financial
ii) No material events occurred after the date of statement of financial position, non-disclosure of

35
 Carew & Company (Bangladesh) Ltd.
Darsana, Chuadanga
Schedule of Property, Plant & Equipment
As at 30 June, 2023

Annexure-A
Cost Depreciation
WDV
Particulars Addition Adjustment Addition Adjustment as on
As on Up to As on Up to
During the during the During the During the 30-06-2023
01-07-2022 30-06-2023 01-07-2022 30-06-2023
year year year year

Sugar:
General Fixed Assets
Land 83,297 - - 83,297 - - - - 83,297
Building and other Construction 70,302,026 2,186,191 - 72,488,217 37,153,745 2,061,899 - 39,215,644 33,272,573
Plant & machinery 82,934,140 3,362,141 - 86,296,281 43,586,309 4,773,709 - 48,360,018 37,936,263
Equipment 47,541,249 5,786,689 - 53,327,938 34,586,312 2,410,066 - 36,996,378 16,331,560
Furniture, Fixture and office equipments 8,218,336 121,336 - 8,339,672 6,366,974 340,372 - 6,707,346 1,632,327
Vehicle and Transport 58,766,579 3,012,630 - 61,779,209 47,594,958 1,966,485 - 49,561,443 12,217,766
Sundry assets 804,194 - - 804,194 802,563 - - 802,563 1,631
Assets transferred by head office 621,098 - - 621,098 346,434 - - 346,434 274,664
Sub-total 269,270,919 14,468,987 - 283,739,906 170,437,295 11,552,530 - 181,989,825 101,750,082

Asset Under BASIP

Plant & machinery 31,273,377 - - 31,273,377 31,273,210 - - 31,273,210 167
Sub-total 31,273,377 - - 31,273,377 31,273,210 - - 31,273,210 167

Asset Under ICDS:

Land 357,201 - - 357,201 - - - - 357,201
Building and other construction 3,343,301 - - 3,343,301 3,075,221 73,336 - 3,148,557 194,744
Sub-total 3,700,503 - - 3,700,503 3,075,221 73,336 - 3,148,557 551,946

Asset Under SMRF Scheme

Land development & Re-excavition of excavation
120,438 - - 120,438 - - - - 120,438
of exting pond at Akandabaria
Building and other construction 1,134,279 - - 1,134,279 1,093,270 28,362 - 1,121,632 12,647
Furniture, Fixture and Office equipment 745,332 - - 745,332 745,317 - - 745,317 15
Vehicle and transport - - - - - - - -
Sub-total 2,000,049 - - 2,000,049 1,838,587 28,362 - 1,866,949 133,100

36
 Carew & Company (Bangladesh) Ltd.
Darsana, Chuadanga
Schedule of Property, Plant & Equipment
As at 30 June, 2023

Annexure-A
Cost Depreciation
WDV
Particulars Addition Adjustment Addition Adjustment as on
As on Up to As on Up to
During the during the During the During the 30-06-2023
01-07-2022 30-06-2023 01-07-2022 30-06-2023
year year year year

Intregrated Cane Devlopment Project

Furniture 27,268 - - 27,268 27,207 - 27,207 61
Vehicle and transport - - - - - - - -
Sub-total 27,268 - - 27,268 27,207 - - 27,207 61
Asset Under Belgium Credit
Equipment 10,393,157 - - 10,393,157 10,393,147 - 10,393,147 10
Sub-total 10,393,157 - - 10,393,157 10,393,147 - - 10,393,147 10

Cattle Feed Plant

Building 90,567 - - 90,567 90,566 - 90,566 1
Power & other construction 172,660 - - 172,660 172,659 - 172,659 1
Sub-total 263,227 - - 263,227 263,225 - - 263,225 2
A) Total PPE under Sugar unit 316,928,500 14,468,987 - 331,397,487 217,307,892 11,654,228 - 228,962,120 102,435,367

Distillery:
Building and other equipment & const. 6,556,866 - - 6,556,866 3,018,720 95,625 - 3,114,345 3,442,521
Plant & Machinery 153,720,996 8,969,345 - 162,690,341 112,347,769 7,324,010 - 119,671,779 43,018,562
Warehouse plant & Machinery 1,352,238 - - 1,352,238 123,139 122,900 - 246,040 1,106,198
Pumps & Tube-well 6,138,690 - - 6,138,690 3,779,426 439,875 - 4,219,302 1,919,388
Office Equipment 1,318,725 199,630 - 1,518,355 1,270,495 24,107 - 1,294,602 223,753
Furniture and Office Equipment 769,111 159,424 - 928,535 500,522 50,075 - 550,597 377,938
Vehicle and transport 50,868,930 - - 50,868,930 47,868,921 750,000 - 48,618,921 2,250,009
Drums 20,933,415 4,350,000 - 25,283,415 14,405,809 2,175,000 - 16,580,809 8,702,606
Air conditioner & Refrigerator 257,915 - - 257,915 183,352 18,640 - 201,992 55,923
Sub-total 241,916,886 13,678,399 - 255,595,285 183,498,155 11,000,233 - 194,498,388 61,096,897

Expansion Scheme Assets 78,555,878 - - 78,555,878 78,072,586 - - 78,072,586 483,292

B) Total PPE under Distillery 320,472,764 13,678,399 - 334,151,163 261,570,741 11,000,233 - 272,570,974 61,580,189

37
 Carew & Company (Bangladesh) Ltd.
Darsana, Chuadanga
Schedule of Property, Plant & Equipment
As at 30 June, 2023

Annexure-A
Cost Depreciation
WDV
Particulars Addition Adjustment Addition Adjustment as on
As on Up to As on Up to
During the during the During the During the 30-06-2023
01-07-2022 30-06-2023 01-07-2022 30-06-2023
year year year year

Pharmaceutical Works:
Building and other equipment 281,611 - - 281,611 279,469 2,137 281,606 5
Plant & machinery 760,863 - - 760,863 760,816 - 760,816 47
Office Equipment 154,642 - - 154,642 154,610 - 154,610 32
Vehicle and transport 226,600 - - 226,600 226,599 - 226,599 1
Furniture & Fixture 47,463 - - 47,463 47,340 - 47,340 123
Sub-total 1,471,179 - - 1,471,179 1,468,834 2,137 - 1,470,971 208
C) Total PPE under Pharmaceuticals 1,471,179 - - 1,471,179 1,468,834 2,137 - 1,470,971 208

Commercial Farm:
Land 111,865 - - 111,865 - - - - 111,865
Building 1,456,749 - - 1,456,749 1,265,158 32,714 - 1,297,872 158,877
Equipment 10,934,293 735,000 - 11,669,293 5,797,852 731,765 - 6,529,617 5,139,676
Furniture & Fixture 117,976 42,280 - 160,256 100,921 6,831 - 107,752 52,504
Vehicle and transport 36,482,726 1,550,000 - 38,032,726 33,175,450 1,703,758 - 34,879,208 3,153,518
Sundry assets 26,616,924 6,545,412 - 33,162,336 14,443,843 2,778,350 - 17,222,193 15,940,143
Sub-total 75,720,533 8,872,692 - 84,593,225 54,783,224 5,253,418 - 60,036,642 24,556,583

Farm Modernization Scheme

Land development 200,115 - - 200,115 - - - - 200,115
Building 2,872,258 - - 2,872,258 2,868,667 3,556 - 2,872,223 35
Vehicle and transport 237,091 113,190 - 350,281 237,090 28,298 - 265,388 84,893
Pumps & Tube-well 8,214,956 - - 8,214,956 8,214,939 - - 8,214,939 17
Sub-total 11,524,420 113,190 - 11,637,610 11,320,696 31,854 - 11,352,550 285,060

B.A.S.I.P
Sundery assets 2,529,507 - 2,529,507 2,529,504 - - 2,529,504 3
Sub-total 2,529,507 - - 2,529,507 2,529,504 - - 2,529,504 3
D) Total PPE under Commercial Farm 89,774,460 8,985,882 - 98,760,342 68,633,424 5,285,272 - 73,918,696 24,841,646

38
 Carew & Company (Bangladesh) Ltd.
Darsana, Chuadanga
Schedule of Property, Plant & Equipment
As at 30 June, 2023

Annexure-A
Cost Depreciation
WDV
Particulars Addition Adjustment Addition Adjustment as on
As on Up to As on Up to
During the during the During the During the 30-06-2023
01-07-2022 30-06-2023 01-07-2022 30-06-2023
year year year year

39
 Carew & Company (Bangladesh) Ltd.
Darsana, Chuadanga
Schedule of Property, Plant & Equipment
As at 30 June, 2023

Annexure-A
Cost Depreciation
WDV
Particulars Addition Adjustment Addition Adjustment as on
As on Up to As on Up to
During the during the During the During the 30-06-2023
01-07-2022 30-06-2023 01-07-2022 30-06-2023
year year year year
Experimental Farm
Land 10,241 - - 10,241 - - - - 10,241
Building 81,084 - - 81,084 81,082 - - 81,082 2
Equipment 628,903 - - 628,903 293,650 55,875 - 349,525 279,378
Furniture 15,046 - - 15,046 13,679 203 - 13,882 1,164
Vehicle and transport 742,716 - - 742,716 742,707 - - 742,707 9
Sundry assets 2,113,993 - - 2,113,993 1,206,254 198,072 - 1,404,326 709,667
Sub-total 3,591,983 - - 3,591,983 2,337,372 254,150 - 2,591,522 1,000,461

Assets BASIP
Equipment 49,322 - - 49,322 49,320 - - 49,320 2
Sub-total 49,322 - - 49,322 49,320 - - 49,320 2
E) Total PPE under Experimental Farm 3,641,305 - - 3,641,305 2,386,692 254,150 - 2,640,842 1,000,463

Jaibo Shar (Bio-fertilizer)

Building and other construction 25,533,238 - - 25,533,238 13,612,419 2,016,762 - 15,629,181 9,904,057
Plant and Machinery 30,475,136 - - 30,475,136 21,171,598 3,047,514 - 24,219,112 6,256,024
Pumps & Tube-well 1,308,328 - - 1,308,328 1,098,994 156,999 - 1,255,993 52,335
Office Equipmetns 378,593 - - 378,593 378,592 - - 378,592 1
Laboratory Equipments 4,115,700 - - 4,115,700 2,880,990 411,570 - 3,292,560 823,140
Vehicle & transports 12,676,591 - - 12,676,591 12,676,585 - 12,676,585 6
Sub-total 74,487,586 - - 74,487,586 51,819,178 5,632,845 - 57,452,023 17,035,563
F) Total PPE Under Jaibo Shar 74,487,586 - - 74,487,586 51,819,178 5,632,845 - 57,452,023 17,035,563
Garnd Total (A+B+C+D+E+F) 806,775,794 37,133,268 - 843,909,062 603,186,761 33,828,865 - 637,015,626 206,893,436
Grand Total as on 30 June 2021 666,270,526 - - 666,270,526 - - - 503,331,374 162,939,152

40
 Carew & Company (Bangladesh) Ltd.
Darsana, Chuadanga
Ration Analysis
For the year ended 30 June 2023

Sl. 2022-2023 2021-2022

No.
Particulars Formula =
Amount in Taka Ratio Amount in Taka Ratio

Current asset 16,692,053,863 14,568,433,502

A. Current Ratio: = 4.92:1 4.54:1
Current liabilities 3,395,156,378 3,209,193,528
The Current Ratio is quiet at a satisfactory levei. The satisfactory level is 2:1.

Current assets - Inventories 16,022,946,225 14,135,566,079

B. Quick Ratio: = 4.72:1 4.4:1
Current Liabilities 3,395,156,378 3,209,193,528
The Quick Ratio is also quiet at a satisfactory levei. The satisfactory level is 1:1.

Cost of goods sold 1,812,227,650 1,823,594,834

C. Inventory Turnover Ratio: = 9.31 Times 6.09 Times
Average stock 194,746,834 299,889,581
The Inventory Turnover Ratio is not satisfactory level. The satisfactory level is 8 times.

Advance, Deposit & Prepayment 94,507,070 76,484,936

D. Advance, Deposit & Prepayments: = 0.01 Times 0.01 Times
Current Assets 16,692,053,863 14,568,433,502

Sales 3,505,745,847 3,335,093,256

E. Assets Turnover Ratio: = 0.21 Times 0.22 Times
Totalt Assets 17,084,109,833 14,817,861,277
The Assets Turnover Ratio is not a stisfactory level. The satisfactory level is 2 times to 4 times for a large organizaation.

40
 Carew & Company (Bangladesh) Ltd.
Darsana, Chuadanga
Ration Analysis
For the year ended 30 June 2023

Sl. 2022-2023 2021-2022

No.
Particulars Formula =
Amount in Taka Ratio Amount in Taka Ratio

Long Term Debt 444,041,303 404,132,828

F. Debt Equity Ratio: = 0.23 Times 0.39 Times
Equity Capital 1,967,841,661 1,045,609,757
The Sales to Working Capital Ratio is satisfactory.

Gross Profit * 100 1,755,067,230 1,581,632,373

G. Gross Profit Ratio: = 50.06% 47.42%
Sales 3,505,745,847 3,335,093,256

Net Profit (before tax) * 100 889,745,212 678,289,322

H. Net Profit Ratio: = 25.38% 20.34%
Sales 3,505,745,847 3,335,093,256

Cost of Goods Sold 1,812,227,650 1,823,594,834

I. Cost of Goods Sold to Sales = 51.69% 54.68%
Sales 3,505,745,847 3,335,093,256

Administrative Cost 670,933,092 683,703,356

J. Administrative Cost Sales: = 19.14% 20.50%
Sales 3,505,745,847 3,335,093,256

Selling & Distribution Exp. 5,327,552 5,565,353

K. Selling & Distributions Exp. To Sales: = 0.15% 0.17%
Sales 3,505,745,847 3,335,093,256

41