MALAYA COMPANY

Statement of Financial Position

For the Fiscal Year Ended June 30, 2016
ASSETS
Note
Current Assets:
Cash and Cash Equivalents
Financial Assets at Fair Value
Financial Assets through OCI
Trade and Other Receivables
Inventories
Other Current Assets
Total Current Assets
Noncurrent Assets:
Property, Plant and Equipment
Investment in Associate
Invesment in Properties
Other Noncurrent Assets
Total Noncurrent Assets
Total Assets

(1)
(2)
(3)
(4)
(5)

(6)
(7)
(8)

LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities:
Trade and Other Payables
Total Current Liabilities
Noncurrent Liabilities:
Loans Payable
Bonds Payable
Total Noncurrent Liabilities
Total Shareholders' Equity
Total Liabilities and Shareholders' Equity

(9)

(10)
(11)

OMPANY

ancial Position
nded June 30, 2016

ETS

1,228,678.75
970,000.00
89,000.00
1,773,787.13
806,700.00
100,562.99

4,968,728.87

14,977,836.22
19,946,565.09

10,640,000.00
27,437.50
2,488,000.00
1,822,398.72

HOLDERS' EQUITY
5,463,222.90
5,463,222.90
1,317,886.35
1,251,989.50
2,569,875.85

11,913,466.34
19,946,565.09

MALAYA COMPANY
Income Statement
For the Fiscal Year Ended June 30 ,2016
Notes
(12)
(13)

Sales
Cost of Sales
Gross Income
Other Income
Less: Expenses
Interest Expense
Utilities Expense
Supplies Expense
Salaries Expense
Depreciation Expense
Donation Expense
Taxes and Licenses
Losses
Bad Debts Expense
Rent Expense
Other Charges
Net Income Before Income Tax
Income Tax Expense
Net Income After Tax

(14)

(15)
(16)

MALAYA COMPANY
Statement of Other Comprehensive Income
For the Fiscal Year Ended June 30 ,2016
Net Income
Other Comprehensive Income
Unrealized Gains from Forward Contract
designated as Cash Flow Hedge
Unrealized Loss from Investment in
Securities
FVTOCI
Revaluation Surplus- Machineries
Total Other Comprehensive Income

MALAYA COMPANY

Statement of Retained Earnings

For the Fiscal Year Ended June 30 ,2016
Retained earnings, Beginning
Correction of prior year underdepreciation
Correction of error of recording Loans payable
Overstatement of doubtful expense
Piecemeal realization of revaluation surplus
Correction in recording the beg. allowance of dounful accounts
Correction of understatement of cash
Correction of error of allocation of Inventory
Recognition of Donation
Correction of error of liabilities
Correction of error of payment of income tax
Corrected beginning balance
Net income for the period
Share Dividend
Cash Dividend
Retained Earnings, End

MALAYA COMPANY

Statement of Changes in Equity

For the Fiscal Year Ended June 30 ,201

Beginning Balance
Correction of prior year underdepreciation
Correction of error of recording Loans payable
Overstatement of doubtful expense
Correction in recording the beg. balance of doubtful accounts
Piecemeal realization of revaluation surplus
Corrrction of understatement of cash
Correction of error of allocation of Inventory
Corrrction of error of liabulities
Recognition of Donation
Correction of error of payment of income tax

Issuance of Convertible bonds at 130% with conversion privilege, 110% without

Conversion of 600 bonds at P42, bonds selling at 127%

Issuance of 25000 shares at P4, par P10

Comprehensive Income:
Net income
Other Comprehensive Income
Share dividend
Cash dividend
Balance, Ending

MPANY

ement
ed June 30 ,2016

402,079.27
113,000.00
260,000.00
601,677.00
905,000.00
240,000.00
537,684.08
207,000.00
14,175.00
420,000.00
110,923.96

6,076,785.72
3,042,000.00 )
3,034,785.72
839,312.50

3,811,539.31
62,558.91
18,767.67
43,791.24

43,791.24

1,307,461.44
1,351,252.68

MPANY
prehensive Income
ed June 30 ,2016

MPANY

25,000.00

(11,000.00)
1,293,461.44

ned Earnings
ed June 30 ,2016

3,876,200.00
(798,878.11)
500,000.00
5,825.00
90,416.67
35,000.00
125,000.00
25,800.00
(240,000.00)
28,044.15
407,533.75
4,054,941.46
43,791.24
(240,000.00)
(250,000.00)
3,608,732.70

MALAYA COMPANY

tement of Changes in Equity

Fiscal Year Ended June 30 ,2016

Share Capital
3,504,800.00

Reserves
Retained Earnings
2,426,000.00
3,876,200.00
(798,878.11)
500,000.00
5,825.00
35,000.00
90,416.67
125,000.00
25,800.00
28,044.15
(240,000.00)
407,533.75
200,000.00

10% without
(24,000.00)

(120,000.00)
690,472.20

160,000.00

###
43,791.24
1,307,461.44

3,640,800.00

4,663,933.64

(240,000.00)
(250,000.00)
3,608,732.70

MALAYA COMPANY
Cash Flow Statement
For the Fiscal Year Ended June 30, 2016
Cash Flow from Operating Activities
Cash inflow from Sales
Cash payments to Suppliers
Cash inflow from Dividend Received from Associate Company
Cash inflow from Interest from Installment Receivables
Cash inflow from Interest from Bank Deposits, net of tax
Cash payments for Utility Services
Cash payments to Creditors for Interest dues
Cash payments to Employees for Salaries
Payments for Taxes and Licenses
Payments to Lessors
Payments to bank
Outflow to donation
Cash provided from Operating Activities
Cash Flow from Investing Activities
Investment in Marketable Securities
Purchase of Commercial Land classified as "for lease"
Proceeds from sale of a tract of lands classified as investment property
Cash Provided from Investing Activities
Cash Flow from Financing Activities
Cash inflow from issuing bonds
Cash outflow from issuing loans
Cash Dividends paid to Shareholders
Acquisition of Treasury Stocks (Common Shares)
Cash Used from Financing Activities
Ending Cash Balance, 6/30/2016

COMPANY

w Statement
Ended June 30, 2016

4,639,928.00
(3,570,000.00)
200,000.00
150,000.00
120,300.00
(159,430.00)
(150,000.00)
(592,052.00)
(398,385.85)
(120,000.00)
(7,000.00)
(140,000.00)
(26,639.85)

(931,250.00)
(250,000.00)
2,802,000.00
1,620,750.00

1,020,000.00
(740,231.40)
(250,000.00)
(395,200.00)
(365,431.40)

1,228,678.75

Notes to Financial Sta

Note 1
Cash and Cash Equivalent
Cash on Hand
Cash in Bank
Manager's Check Account
Postal Money Order
Coins and Change Fund
Petty Cash Fund

Note 2
Financial Assets At Fair Va
Ayala
San Miguel
Total

Note 3
Trade and Other Receivable
Accounts receivable
Allowance for doubtful accounts
Installment receivable
Unearned interest income
Other receivables
Dividend receivable
Interest receivable
Insurance receivable
Forward contract receivable
Total Receivables
Note 4
Inventories
Raw Materials
Sardines Purchased last May
Label and Packaging Materials
Agricultural & Marine Materials
In-Process Inventories
Direct Materials
Sardines & Tuna
Paste & Flavor
Oil
Tin Cans

Packaging and Label

Tetra Packs
Direct Labor
Overhead
Electricity
Deprreciation
Factory Supplies
Finished Goods
Canned Tuna
Canned Sardines
Supplies and Other Inventories
Office Supplies
Cleaning Supplies
Scrap Materials & Inventories
Total Inventories
Note 5
Other Current Asset
Vat Credit

Note 6
Property, Plant and Equipm
Delivery Trucks
Accumulated Depreciation
Manufacturing Plant
Accumulated Depreciation
Canning Equipment
Accumulated Depreciation
Office Building
Accumulated Depreciation
Land where the Building is located
Land where the Plant is located
Agricultural Farm Land

Note 7
Investment in Propertie
Company Warehouse for Lease under
Operating Lease Agreement

Commercial Land for Lease

Industrial Land for Capital Appreciation
Other Investment Properties

Note 8
Other Noncurrent Asset
Noncurrent Asset Held for Sale
Input Vat

Note 9
Trade and Other Payable
Accounts Payable
Withholding Tax Payable
Accrued Salaries
Accrued Interest

Note 10
Loans Payable
Loan From BDO
Loan From Land Bank
Loan From RCBC
Discount on Loans Payable

Note 11
Bonds Payable
Convertible Bonds
Discount on BondsPayable-convertible
bonds
Non-Convertible Bonds
Discount on BondsPayablenonconvertible bonds
Bond Issue Costs

Note 12
Sales
Cash Sales
Credit Sales
Installment Sales

Note 13
Cost of Sales
Beginning Inventory
Net Purchases
Purchases
Purchase
Discount
Ending Inventory
Cost of Sales

Note 14
Other Income
Interest Income
Dividend Income
Gain from change in Fair value
Revaluation Gain

Note 15
Donation
Donation to Charitable Institution
Donation to LGU

Note 16
Taxes and Licenses
VAT Paid for the year
Income Tax
Registration Fees
Licenses
Community Tax
Real Property Tax
Capital Gains Tax
Final Taxes
Fringe Benefit

Notes to Financial Statements

Note 1
Cash and Cash Equivalents

h on Hand
h in Bank
nager's Check Account
al Money Order
ns and Change Fund
y Cash Fund
Total
Note 2
Financial Assets At Fair Value
720,000.00
250,000.00
970,000.00

Note 3
Trade and Other Receivables
ounts receivable
wance for doubtful accounts
allment receivable
arned interest income
er receivables
dend receivable
rest receivable
rance receivable
ward contract receivable
l Receivables

449,325.00
14,000.00
900,000.00
110,244.64
262,875.00
232,781.25
3,050.52
25,000.00
25,000.00
1,773,787.13

Note 4
Inventories

w Materials
dines Purchased last May
el and Packaging Materials
cultural & Marine Materials

Process Inventories
ect Materials
dines & Tuna
e & Flavor

Cans

278,220.75
903,100.00
15,000.00
5,678.00
1,490.00
25,190.00
1,228,678.75

5,000.00
12,500.00
11,000.00

50,000.00
6,000.00
12,000.00
42,000.00

kaging and Label

a Packs

6,500.00
55,500.00

ect Labor
erhead
tricity
rreciation
ory Supplies

30,000.00
10,000.00
20,000.00
130,000.00

ished Goods
ned Tuna
ned Sardines
pplies and Other Inventories
ce Supplies
aning Supplies
ap Materials & Inventories
Total Inventories

100,000.00
20,000.00
35,200.00
6,000.00
255,000.00
806,700.00

Note 5
Other Current Asset

Credit

100,562.99

Note 6
Property, Plant and Equipment

very Trucks
umulated Depreciation
nufacturing Plant
umulated Depreciation
ning Equipment
umulated Depreciation
ce Building
umulated Depreciation

1,854,851.48
(554,851.48)
2,485,354.33
(935,354.33)
2,182,483.44
(392,483.44)
4,279,487.18
(1,379,487.18)
1,400,000.00

d where the Building is located

d where the Plant is located

cultural Farm Land

Total PPE

Note 7
Investment in Properties
mpany Warehouse for Lease under
rating Lease Agreement

900,000.00
800,000.00
10,640,000.00

820,000.00

mmercial Land for Lease

ustrial Land for Capital Appreciation

er Investment Properties
Total

650,000.00
500,000.00
518,000.00
2,488,000.00

Note 8
Other Noncurrent Assets
Noncurrent Asset Held for Sale
ut Vat
Total

485,000.00
1,337,398.72
1,822,398.72

Note 9
Trade and Other Payables
ounts Payable
hholding Tax Payable
rued Salaries
rued Interest
Total

5,026,369.96
79,102.94
103,250.00
254,500.00
5,463,222.90

Note 10
Loans Payable

n From BDO
n From Land Bank
n From RCBC
count on Loans Payable
Total
Note 11
Bonds Payable

vertible Bonds
count on BondsPayable-convertible
ds

-Convertible Bonds

400,000.00
(3,685.00)
1,000,000.00
(74,325.50)

count on BondsPayableconvertible bonds

d Issue Costs

h Sales
dit Sales
allment Sales

350,000.00
700,000.00
300,000.00
(32,113.63)
1,317,886.37

Total

(70,000.00)
1,251,989.50

Note 12
Sales
1,824,642.86
2,532,142.86
1,720,000.00

Total

6,076,785.72

Note 13
Cost of Sales

inning Inventory
Purchases

300,000.00
3,232,000.00
(40,000.00)

ing Inventory
t of Sales

3,192,000.00
3,492,000.00
(450,000.00)
3,042,000.00

Note 14
Other Income

rest Income
dend Income
n from change in Fair value
aluation Gain
Total

9,312.50
410,000.00
220,000.00
200,000.00
839,312.50

Note 15
Donation
ation to Charitable Institution
ation to LGU
Total

200,000.00
40,000.00
240,000.00

Note 16
Taxes and Licenses
Paid for the year
me Tax
istration Fees
nses
mmunity Tax
l Property Tax
ital Gains Tax
l Taxes
ge Benefit
Total

71,000.00
18,767.67
2,300.00
1,200.00
5,458.18
163,760.00
198,000.00
1,495.31
94,470.59
556,451.75

Real Properties
Land
Where building is located
Where plant is located
Aqua-cultural Farm
Commercial Land
Industrial Land
Building
Idle Commercial Building
Company Warehouse
Manufacturing Plant
Office Building
Canning Equipment
Commercial Land sold
Idle Residential Land sold

Real Properties
Land
Where building is located
Where plant is located
Aqua-cultural Farm
Commercial Land
Industrial Land
Building
Idle Commercial Building
Company Warehouse
Manufacturing Plant
Office Building
Canning Equipment
Commercial Land sold
Idle Residential Land sold

Fair Value
1,400,000.00
900,000.00
800,000.00
650,000.00
500,000.00
460,000.00
820,000.00
1,550,000.00
2,900,000.00
1,790,000.00
1,800,000.00
1,400,000.00

Fair Value
1,400,000.00
900,000.00
800,000.00
650,000.00
500,000.00
460,000.00
820,000.00
1,550,000.00
2,900,000.00
1,790,000.00
1,800,000.00
1,400,000.00

Assessment Level

Assessed Value

Basic Real Estate Tax Rate

50%
50%
40%
50%
50%

700,000.00
450,000.00
320,000.00
325,000.00
250,000.00

1%
1%
1%
1%
1%

35%
50%
60%
70%
80%
50%
20%

161,000.00
410,000.00
930,000.00
2,030,000.00
1,432,000.00
900,000.00
280,000.00

1%
1%
1%
1%
1%
1%
1%
Basic Real Estate Tax

Assessment Level

Assessed Value

Basic Real Estate Tax Rate

50%
50%
40%
50%
50%

700,000.00
450,000.00
320,000.00
325,000.00
250,000.00

1%
1%
1%
1%
1%

35%
50%
60%
70%
80%
50%
20%

161,000.00
410,000.00
930,000.00
2,030,000.00
1,432,000.00
900,000.00
280,000.00

1%
1%
1%
1%
1%
1%
1%
Additional Tax(SEF)

Basic Real Estate Tax

7,000.00
4,500.00
3,200.00
3,250.00
2,500.00
1,610.00
4,100.00
9,300.00
20,300.00
14,320.00
9,000.00
2,800.00
81,880.00

Basic Real Estate Tax

7,000.00
4,500.00
3,200.00
3,250.00
2,500.00
1,610.00
4,100.00
9,300.00
20,300.00
14,320.00
9,000.00
2,800.00
81,880.00

Basic Real Estate Tax

Additional Tax(SEF)
Total Real Property Tax

81,880.00
81,880.00
163,760.00

Real Properties
Land
Where building is located
Where plant is located
Aqua-cultural Farm
Commercial Land
Industrial Land
Building
Idle Commercial Building
Company Warehouse
Manufacturing Plant
Office Building
Canning Equipment
Commercial Land sold
Idle Residential Land sold

Fair Value

Assessment Level

1,400,000.00
900,000.00
800,000.00
650,000.00
500,000.00

50%
50%
40%
50%
50%

460,000.00
820,000.00
1,550,000.00
2,900,000.00
1,790,000.00
1,800,000.00
1,400,000.00
Total assessed Value

35%
50%
60%
70%
80%
50%
20%

Community Tax
Basic community tax
Community Tax on Real Property
Community Tax on Gross Receipts
Total Community Tax

500.00
3275.2
1682.9781728
5,458.18

Assessed Value
700,000.00
450,000.00
320,000.00
325,000.00
250,000.00
161,000.00
410,000.00
930,000.00
2,030,000.00
1,432,000.00
900,000.00
280,000.00
8,188,000.00

Total assessed Value

Divided By

8,188,000.00
5,000.00
1637.6
2
3275.2

Multiplied By
Community Tax on Real
Property
Gross Receipts
Domestic Sales
Gross Domestic Sales
Other Domestic Income
Gross Domestic Income
Divided By
Multiplied By
Community Tax on Gross
Receipts

6076785.72
0.60
3,646,071.43
561,374.00
4,207,445.43
5,000.00
841.4890864
2
1,682.9781728

Bank Reconciliation

Unadjusted book balance

Book error
Credit Memo: interest
Debit Memo: BSC
Adjusted book balance

890,000.00
15,000.00
5,100.00
(7,000.00)
903,100.00

Reconciliation
Unadjused bank balance
Deposit in transit
June 29 check
June 29 check of Leanita
June 30 check for Aprilot
Outstanding Checks
June 17
Pakalu papito
Bank Error:
unrecorded
canc'd
check
Unjusted bank balance
Miscellaneous loss
Adjusted bank balance

810,000.00
107,500.00
15,600.00
5,700.00
(36,000.00)
(60,000.00)
842,800.00
60,300.00
903,100.00

Net Purchases
Multiplied by
Purchases of Agricultural and Marine Materials
Multiplied by
Purchases from Abandula Tiuna and Fisheries
Multiplied by
Input VAT from Abandula Tiuna and Fisheries purchases

Input VAT from Abandula Tiuna and Fisheries purchases

Presumptive VAT
Input VAT from purchase of Agricultural and Marine materials
Input VAT from other suppliers purchases (154080+900)
Total Input VAT on purchases of inventories
Input VAT on purchase of Delivery Trucks
Input VAT on purchase of Canning Equipment
Input VAT on lease
Total Input VAT

Net Cash Sales

Multiplied by
Domestic Sales
Divided by
Multiplied by
Output VAT on Cash Sales

Output VAT
Less Input VAT
VAT Credit
Input VAT

Output VAT
VAT Credit

3,210,000.00
0.60
1,926,000.00
0.20
385,200.00
0.12
46,224.00

46,224.00
61,632.00
10,320.00
154,980.00
273,156.00
49,021.28
46,200.00
50,400.00
418,777.28

1,950,000.00
0.60
1,170,000.00
1.12
1,044,642.86
0.12
125,357.14

318,214.29
418,777.28
100,562.99
418,777.28

318,214.29
100,562.99

Purchases of Agricultural and Marine Materials

Multiplied by
Purchases of Agricultural and Marine Materials from other supplier
Multiplied by
Presumptive VAT

Input VAT
Accounts Payable

Input VAT on purchase of delivery trucks

Divided by useful life or 60 mos. Whichever is shorter
Monthly Creditable Tax
Multiplied by
Annual creditable Input VAT
Input VAT on purchase of Canning Equipment
Divided by useful life or 60 mos. whichever is shorter
Monthly Creditable Tax
Multiplied by
Annual Creditable Input VAT
Net Credit Sales
Multiplied by
Export Sales
Divided by
Multiplied by
Output VAT on Credit Sales

1,926,000.00
0.80
1,540,800.00
0.04
61,632.00

Net Purchases
Multiplied by
Purchases of other materials
Multiplied by
Input VAT

273,156.00

nts Payable

273,156.00

192,000.00
47.00
4,085.11
12.00
49,021.28
231,000.00
60
3,850.00
12
46,200.00
3,000,000.00
0.60
1,800,000.00
1.12
1,607,142.86
0.12
192,857.14

3,210,000.00
0.40
1,284,000.00
0.12
154,080.00

Purchase of Agricultural and Marine materials not recorded

Multiplied by
Input VAT

86,000.00
0.12
10,320.00

Packaging & labels

Multiplied by
Input VAT

7,500.00
0.12
900.00

Accounts Receivable

Unadjusted Bal.
Post-dated check
Post-dated check
Adjusted Bal.

Debit
Credit
434,500.00
17,000.00
20,175.00 Additional Write of
18,000.00
469,500.00
20,175.00
449,325.00

Allowance for Doubtful Accounts

Beg. Bal.
Doubtful expense
Ending Bal.

35,000.00
14,175.00
49,175.00
14,000.00

35175
35,175.00

Unadjusted Bal.

Installment Receivable
Debit
Credit
900,000.00

Installment Receivable
Unadjusted Bal.
Adjusted Bal.

From Makati technologies

End Bal.

Unadjusted Bal.
Due from cashier
Advances to employee
Adjusted Bal.

900,000.00
900,000.00

Forward Cotract Receivable

25,000.00
25,000.00
Other Receivables
232,500.00
5,700.00
24,675.00
262,875.00

Unadjusted Bal. Jan.1 Sale

Unadjusted Bal. March 31 Sale
Adjusted Bal.

Unearned Interest Income

Debit
Credit
67,052.33
10,823.69
57,949.32
3,933.32
125001.65
14,757.01
110,244.64

Dividends Receivable
Dividends declared from Ayala
Dividends declared from Associate
Cash Dividend declared
Forex increased in receivable

135,000.00
275,000.00
97,562.50
218.75
507,781.25
232,781.25

275,000.00

275,000.00

Interest Receivable
Accrued interest from May 29 Sale
Interest receivable from East West
Adjusted Interest Receivable

From loss on fire of computer machines

333.33
2,717.19
3,050.52
Insurance Receivable
25,000.00
25,000.00

Earned portion of Jan. 1 Sale

Earned portion of March 31 Sale

Dividends Paid