Mosaic Properties Intl LTD.

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2016

BER 2016
Mosaic Properties Intl Ltd
Trail Balance as of 31 Dec 2015
(A Limited Liability Company)
(All amounts in GBP unless otherwise stated) 0.00 (0.00) (1.34)

Nav
Account
Number Account name Year 2016 Year 2015 Year 2014
100000 Current Assets
US$ 4,436.87 7,004
101103 Euro
GBP 2,011.65 2,021
101105 CHF
101106 JPY
112104 HSBC 116,311.46
101200 Deposits 458,000
101210 Standing deposit
101220 Placement deposits
101299 Deposit total
101300 Accounts Receivable
113101 Trade Receivable (34,185.91) (62,278.89) 539,280
101320 Staff Receivable
101330 Dividend Receivable
113520 VAT Receivables 72,012.07 86,578.79
115019 Advance Income taxes 69,007.00 69,007.00 26,871
101355 Advance Real Estate taxes
113590 Other Receivables 340,143.55 552,000.00
115020 Property Mgr account 24,636.49 33,819.93 104,849
115997 Other Advances 6,250.00 6,250.00 6,250
101710 Prepaid Rent - 14,670
101715 Prepaid -Insurance-Engineering
101716 Prepaid Insurance-Terror
115009 Prepaid Ins-Prop Owners 23,898.08 (10,115.96)
115998 Prepaid Rates 69,409.04
102035 Due from Related Parties
102035 Gravita Property ltd -
131503 Profl Services - Consultancy 15,051.14 15,051.14 15,052.00
131508 Feasibility Studies 28,000.00 28,000.00 28,000.00
131509 Planning Permission 1,127,780.94 964,311.78 672,383.00
136023 VAT Unrecoverable 138,923.82 137,523.17 94,258.00
121101 Land 28,236,214.00 28,236,214.00 28,236,214.00
161100 Building -
121110 Building 23,102,355.83 23,102,355.83 23,102,356.00
121160 Acc. Depn Building (1,936,219.41) (1,510,637.51) (1,048,590.00)
161201 Equipments
161202 Acc. Depn Equipments
121112 Computer and Hardware 2,332.50 2,332.50 -
121162 Acc Dep Computer and Hardware (1,639.10) (1,103.05) -
161401 Furniture & Fixtures
161402 Acc. Depn Furniture & Fixtures
195000 Other Assets
195010 Suspense Account
195999 Total Other Assets
200000 Current Liabilities
211101 Accounts Payable 217,349.74 (3,905.62)
201001 Accounts Payable (120.00)
201101 Advance Rent Received
211602 Unearned Rent (8,618.73) (9,578.00) (115,763.00)
211604 Service Charges reserves 66,270.13 (28,079.52) (19,311.00)
211606 Dilpidation Credit (500,000.00) (500,000.00) (500,000.00)
211590 Zadakka Payables (3,740.57) (3,652.40) (3,225.00)
201199 Other Payables -
211520 VAT collected from Tenants (4,355.41) (1,201.90) (23,214.00)
202015 VAT Paid for Services 15,587.00
212010 Salaries 0.41 0.41
212080 Audit Fees Payables (12,430.57) (5,286.07) (5,569.00)
221199 Profesnl & legal chgs payable
213002 Income Tax (410.04) (410.04) (138,808.00)
214001 Accrued Loans interest (6,300,000.00) (4,200,000.00) (2,100,000.00)
211010 HALJ CO -
Totta Investment (12,545,318.62) (12,693,834.55) (12,582,680.25)
Mme HJ -Personal -
211900 Kings Road Property Ltd (2,938,804.14) (1,218,342.14) -
Gravita Prop. Ltd (474,049.39) (236,195.29)
Bishopsgate Inv Ltd - (848.26)
221100 Loan-interest bearing (40,000,000.00) (40,000,000.00) (40,000,000.00)
228020 Loan-non interest bearing
311025 Share Capital Totta Investments Ltd (31,203.20) (31,203.20) (31,203.00)
320000 Statutory Reserves
330000 Retained Earnings 7,212,006.23 3,242,063.90 1,133,746.00
402002 Rental Revenue - Property (97,009.01) (1,520,910.00)
500646 Service Charges 416,001.88
402006 Car Parking revenue (87,857.26) (35,184.00) (35,629.00)
551500 Other Income
406002 Currency Exchange US $ (344.69) (257.00) (409.00)
601016 Insurance 9,927.00
720100 Bank Charges 1,816.87 1,947.97 2,265.00
720200 FOREX cost / losses (199.88) 68.33
721100 Interest on Loans 2,100,000.00 2,100,000.00 2,100,000.00
603010 Sales commission 50,000.00
604040 Repairs and Maint Building
604045 Service Charges 116,075.00
500602 Electricity 23,071.01 - -
500607 Water 1,982.17
500612 Other Utility Charges 1,674.82
500619 Repairs & Maint bldg 6,883.00
500620 Plants & Landscaping 1,302.00
500622 Elevator maintenance 550.00
500624 Waster Water disposal 340.04
500626 Janitor services 2,837.88
500631 Rep/Maint-Sanitary works 88.25
500632 Rep/Maint-Electrical 91.00
500633 Rep/Maint Plumbing 120.00
500639 Fire extinguishers 96.56
500648 Security Systems 98,749.18
500649 Other Occupancy Cost 2,988.57
500652 R&R Rates City of Westminsiter 1,035,940.31 182,342.32 647,602.00
500715 General Maint & repairs 651.00
500764 Fuel 11,827.26
710110 Building - Depreciation 425,581.90 462,047.16 462,047.00
710112 Computer and Hardware 16.13 63.21 0.08
606000 Personnel Cost
610001 Basic Pay 34,000.00 73,135.00
Basic Pay 9,200.00
610004 Housing Allowances 27,150.00 71,624.00
606075 Employers Tax Contribution
610024 Personnel Cost Allocation from HALJ Co 22,563.28 17,047.00
Travel Expeneses - Sitzerland 14,119.00
630148 Domestic Travel- Others 48.38 281.54
630152 UK 2,042.33
630198 Others 104.22
650002 Consultancy Fees 54,031.50 74,896.93
650005 Professional fees 55,257.68 60,658.35 87,113.00
650006 Audit Fees 7,144.50 5,569.75 5,620.00
690095 Income Tax
640008 Courier charges 367.54 84.23 106.00
691001 Central OH recharges 2,122.08 677.00
500635 Property Management fees 15,000.00 9,000.00
500648 Surrender Lease Premiums 458,000.00
650004 Management fees 198,000.00 198,000.00
690206 Premises / Villa 28,695.68 38,480.32
690208 Insurance premiums 2,575.12
690209 Other - Insurance 566.96
690308 Taxi, Meals, Airfare 205.72
690399 Sundry expenses 2,332.50 2,332.50 2,332.50

0.00 (0.00) (0.67)

Mosaic Properties Intl Ltd
Statement of Financial Position as at 31 Dec 2016
(A Limited Liability Company)
- 0
NOTE Dec 2016 Dec 2015 Dec 2014
IN GBP IN GBP IN GBP
ASSETS
Current Assets:
Bank balances and cash 1 116,311.46 6,448.52 9,025.00
Accounts receivable and prepaym 2 501,761.28 744,669.91 1,149,920.00
Due from Related Parites 3 0.00 0.00 0.00
Total Current Assets 618,072.74 751,118.43 1,158,945.00

Non-Current Assets:
Investments in Associates 4 0.00 0.00 0.00
Fixed Assets 5 49,403,043.82 49,829,161.77 50,289,980.00
CWIP 1,309,755.90 1,144,886.09 809,693.00
Total Non-Current Assets 50,712,799.72 50,974,047.86 51,099,673.00

TOTAL ASSETS 51,330,872.46 51,725,166.29 52,258,618.00

LIABILITIES & SHAREHOLDERS' EQUITY

LIABILITIES
Current Liabilities:
Accounts payable and accruals 6 6,545,935.04 4,752,113.55 2,890,423.00
Due to related parties 7 15,958,172.15 14,149,220.24 12,582,680.25
Zakat Payable 0.00 0.00 0.00
Dividends Payable 0.00 0.00 0.00
Total Current Liabilities 22,504,107.19 18,901,333.79 15,473,103.25

Long-Term Liabilities:
Long Term Loan 8 40,000,000.00 40,000,000.00 40,000,000.00
Total Long-Term Liabilities 40,000,000.00 40,000,000.00 40,000,000.00

TOTAL LIABILITIES 62,504,107.19 58,901,333.79 55,473,103.25

SHAREHOLDERS' EQUITY
Share capital 31,203.20 31,203.20 31,203.00
Statutory reserve 9 0.00 0.00 0.00
Foreign currency translation reserve 0.00 0.00 0.00
Retained earnings (7,212,006.23) (3,242,063.90) (1,133,746.00)
YTD - Profit or Loss (3,992,431.70) (3,965,306.39) (2,111,941.58)
Actuarial Loss 0.00 0.00 0.00
Total Shareholders' Equity (11,173,234.73) (7,176,167.09) (3,214,484.58)

TOTAL LIABILITIES & SHAREHOLDERS' EQU 51,330,872.46 51,725,166.70 52,258,618.67

Mosaic Properties Intl Ltd
Statement of Comprehensive Income
(A Limited Liability Company)

Dec 2016 Dec 2015 Dec 2014

IN GBP IN GBP IN GBP

Rental Income 87,857.26 132,193.01 1,556,539.00

General and administration expenses 1,978,816.78 1,995,808.43 1,566,624.58

Operating Profit (1,890,959.52) (1,863,615.42) (10,085.58)

Financial Charges (2,101,816.87) (2,101,947.97) (2,102,265.00)
Foreign Currency Exchange 344.69 257.00 409.00

Profit (Loss) Before tax (3,992,431.70) (3,965,306.39) (2,111,941.58)

Income tax for the Year 0.00 0.00 0.00

Net Profit (Loss) for the period (3,992,431.70) (3,965,306.39) (2,111,941.58)

Other Comprehensive Income

Total Comprehensive Income(Loss) for the y (3,992,431.70) (3,965,306.39) (2,111,941.58)

STATEMENT OF RETAINED EARNINGS

Opening balance (7,210,994.97) (3,245,688.58) (1,133,747.00)

Net profit (loss) for the period (3,992,431.70) (3,965,306.39) (2,111,941.58)
(11,203,426.67) (7,210,994.97) (3,245,688.58)
0.00 0.00 0.00

Closing balance (11,203,426.67) (7,210,994.97) (3,245,688.58)

2
Mosaic Properties Intl Ltd
STATEMENT OF CASH FLOWS
(A Limited Liability Company)

Dec 2016 Dec 2015

IN GBP IN GBP

CASH FLOWS FROM OPERATING ACTIVITIES

Net profit (loss) for the period(Before tax) (3,992,431.70) (3,965,306.39)
Adjustment for non-cash items:
Difference in retained earnings (4,635.00) 3,624.00
Depreciation 426,117.95 463,150.56
Changes in Working Capital
Prepayments and other receivables 242,908.63 405,250.09
Accrude and other Laibilities 1,793,821.49 1,861,690.55
Income tax Paid 0.00 0.00
(Gain) Loss on revaluation of foreign currencies 0.00 0.00
Net cash generated from operating activities (1,534,218.63) (1,231,591.19)

CASH FLOWS FROM INVESTING ACTIVITIES

CWIP (164,869.81) (335,193.09)
Purchase of fixed assets 0.00 (2,332.33)
Cash used in investing activities (164,869.81) (337,525.42)

CASH FLOWS FROM FINANCING ACTIVITIES

Share capital contribution 0.00 0.00
Loan from Shareholder
Due to shareholder
Due to related Party 1,808,951.91 1,566,539.99
Cash generated from financing activities 1,808,951.91 1,566,539.99

INCREASE IN CASH AND CASH EQUIVALENTS 109,863.47 (2,576.62)

Cash and cash equivalents, Beg. of Period 6,448.13 9,024.75

CASH AND CASH EQUIVALENTS, END OF PERIOD 116,311.60 6,448.13

116,311.46 6,448.52
(0.14) 0.39

4
 Dec 2014
IN GBP

(2,111,941.58)

462,047.08 Depreciation in accmulated depreciation is not tally with deprication in expenses account

(201,287.00)
(1,469,160.00)
0.00
0.00
(3,320,341.50)

(639,071.00)
0.00
(639,071.00)

0.00

3,054,184.25
3,054,184.25

(905,228.25)
914,253.00

9,024.75

9,025.00
0.25

5
s account

6
Mosaic Properties Intl Ltd
Notes to accounts

Dec 2016 Dec 2015

IN GBP IN GBP
1. Cash
Petty Cash 0.00 0.00
Total Petty Cash 0.00 0.00
HSBC USD C/A 116,311.46 4,436.87
" GBPC/A 0.00 2,011.65
Al Rajhi 0.00 0.00
Total Cash-in-Banks 116,311.46 6,448.52
116,311.46 6,448.52

2-A. Other Receivables

Loans and Advances to Employees 0.00 0.00

VAT Receivables 72,012.07 86,578.79
Prepayments 23,898.08 -10,115.96
Trade Receivables -34,185.91 -62,278.89
Propety Manager Account 24,636.49 33,819.93
Income Tax Advances 69,007.00 69,007.00
Other Advances ( London Electricity) 6,250.00 6,250.00
Rates Receivables 340,143.55 552,000.00
Advance ( Tenant move out) 0.00 0.00
501,761.28 675,260.87

2-B. Prepaid Expenses

Office rent 0.00 0.00
Office insurance 0.00 0.00
Computer maintenance 0.00 0.00
Others 0.00 0.00
Rates 0.00 69,409.04
0.00 69,409.04

. Total Advance,pre-payment 501,761.28 744,669.91

Mosaic 0.00 0.00

Totta 0.00 0.00
Gravita 0.00 0.00
OEH 0.00 0.00
KRP 0.00 0.00
Maritime Crew 0.00 0.00
Mosaic Properties Intl Ltd
Notes to accounts

Dec 2016 Dec 2015

IN GBP IN GBP

. Due from Related Parties 0.00 0.00

Mosaic Properties Intl Ltd
Notes to accounts

Dec 2016 Dec 2015

IN GBP IN GBP

. Investments in Subsidiaries & Affiliates

Abdul Latif Jameel Co. (ALJ) 0.00 0.00
ALJ Real Estate & Investments 0.00 0.00
United Installments Sales Co. (UIS) 0.00 0.00
United Outdoor & Advertising 0.00 0.00
United Technology Products 0.00 0.00
Peninsular Distribution Co 0.00 0.00
Draft
0.00 0.00

. Fixed Assets
Cost, Beginning 51,340,902.33 51,338,569.83
Add: Acquisitions for the period 0.00 2,332.50
Less: Dispoals for the period 0.00 0.00
Total 51,340,902.33 51,340,902.33
Accum. Depreciations, beg. 1,511,740.56 1,048,590.00
Add: Depreciation for the period 426,117.95 463,150.56
Disposal items 0.00 0.00
Total 1,937,858.51 1,511,740.56
Book Value 49,403,043.82 49,829,161.77

Land,Equipment and WIP 49,403,043.82 49,829,161.77

6-A Accounts Payable
Others
Account Payable-creditors 0.00 0.00

0.00 0.00

6-B Accrued & Other Liabilities

Accounts Payable -217,349.74 3,905.62
Other Payables -0.41
Unearned rent 8,618.73 9,578.00
Service Charges Reserves -66,270.13 28,079.52
Dilapidation Credits 500,000.00 500,000.00
Zadakka Payables 3,740.57 3,652.40
VAT Payables 4,355.41 1,201.90
Audit & Accountancy 12,430.57 5,286.07
Mosaic Properties Intl Ltd
Notes to accounts

Dec 2016 Dec 2015

IN GBP IN GBP

Income Tax 410.04 410.04

Loan Interest Payables 6,300,000.00 4,200,000.00
6,545,935.04 4,752,113.55
Mosaic Properties Intl Ltd
Notes to accounts

Dec 2016 Dec 2015

IN GBP IN GBP

. AP,Accrued and Others 6,545,935.04 4,752,113.55

. Amounts due to subsidiaries & affiliates
Totta Investements Ltd 12,545,318.62 12,693,834.55
Kings Road Property Ltd 2,938,804.14 1,218,342.14
Gravita Prop. Ltd 474,049.39 236,195.29
Bishopsgate Investment 0.00 848.26
15,958,172.15 14,149,220.24

. Long Term Loans

Loan - Totta Inv 40,000,000.00 40,000,000.00
0.00 0.00

Total Loan 40,000,000.00 40,000,000.00

. Statutory Reserve
Balance Beginning 0.00 0.00
Transfers for the period 0.00 0.00
Balance Ending 0.00 0.00

. Revenue
Rental from occupants 87,857.26 132,193.01
Other income 0.00 0.00
Foreign Currency exchange Gain ( Loss) 344.69 257.00

88,201.95 132,450.01

. General & Adm. Expenses

FOREX cost / losses -199.88 68.33
Insurance 31,837.76 38,480.32
Bank Charges 1,816.87 1,947.97
Loan Interest 2,100,000.00 2,100,000.00
Sales Commission 0.00 0.00
Occupancy Cost 1,191,714.79 649,342.32
Service Charges 0.00 416,001.88
Depreciation 425,598.03 462,110.37
Personnel Cost 0.00 83,713.28
Travel Expenses 48.38 2,428.09
Professional Fees 116,433.68 141,125.03
Income Tax Provisions 0.00 0.00
management Fees 198,000.00 198,000.00
Mosaic Properties Intl Ltd
Notes to accounts

Dec 2016 Dec 2015

IN GBP IN GBP

Others 15,384.02 4,538.81

4,080,633.65 4,097,756.40
Mosaic Properties Intl Ltd
Notes to accounts

Dec 2016 Dec 2015

IN GBP IN GBP

. Share of profits (losses) of subsidiaries

Abdul Latif Jameel Co. (ALJ) 0.00 0.00
ALJ Real Estate 0.00 0.00
United Installments Sales Co. (UIS) 0.00 0.00
United Outdoor Advertising Co. (UOAC) 0.00 0.00
United Technology Products Co. (UTPC) 0.00 0.00
Peninsular Distribution Co. (PEDICO) 0.00 0.00

0.00 0.00
Dec 2014
IN GBP

00
0
7,004
2,021
0
9,025
9,025

0
0
0
539,280
104,849
26,871
6,250
0
458,000
1,135,250

14,670
0
0
0

14,670

1,149,920

0
0
0
0
0
0
Dec 2014
IN GBP

0
 Dec 2014
IN GBP

0
0
0
0
0
0

51,338,570.00
0
0
51,338,570
586,543
462,047
0
1,048,590
50,289,980

50,289,980

120

120

115,763
19,311
500,000
3,225
7,627
5,569
Dec 2014
IN GBP

138,808
2,100,000
2,890,303
Dec 2014
IN GBP

2,890,423

12,582,680

12,582,680

40,000,000
0

40,000,000

0
0
0

1,556,539
0
409

1,556,948

9,927
2,265
2,100,000
50,000
763,677

462,047
171,006
14,119
92,733
0
Dec 2014
IN GBP

3,115.50
3,668,890
Dec 2014
IN GBP

0
0
0
0
0
0

0
STATEMENT OF CHANGES IN EQUITY
(A Limited Liability Company)

Share Contributed Retained

Capital Surplus Earnings
IN GBP IN GBP IN GBP

Dec 31, 2014 31,203 0 (3,245,688)

Contributions during the year 0 0 0
Net Income (loss) for 2015 0 0 (3,965,306)

Dec 31, 2015 31,203 0 (7,210,994)

Contributions during the year 0 0 0
Net Income (loss) for 2016 0 0 (3,992,432)

December 31, 2016 31,203 0 (7,210,994)

3
TOTAL
IN GBP

(3,214,485)
0
(3,965,306)

(7,179,791)
0
(3,992,432)

(11,172,223)