Professional Documents
Culture Documents
2006 2005
NON-CURRENT ASSETS Note Rupees Rupees
CURRENT ASSETS
FINANCED BY:
INCOME:
Donational - Overseas
Donationl - Local
Bank Profit
Interest Income on Term De
EXPENSES:
SCHOOL ESTABLISHMEN
Honorarium teachers
Teachers training
Promotion and publications
Student aid and accessories
Coordinators salary
Transportation of Material s
Teaching aid and accessorie
Water charges for Baldia Sc
Miantenance of Motorcycles
Insurance Motor Cycles
Miscellaneous expenese
Bank charges
Exchange differential cost
CHAIRMAN
FRIENDS OF LITERACY AND MASS EDUCATION, KARACHI
INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD ENDED 30TH. JUNE. 2006
2006 2005
Rupees Rupees
onational - Overseas 5,521,132 4,601,806
1,423,200 132,019
43,229 4,778
erest Income on Term Deposit Rreceipts - PICIC 139,000
7,126,561 4,738,603
MEMBER MEMBER
FRIENDS OF LITERAC
NOTES
FOR THE PERIOD TH
a) Basis of Accounting
b) Fixed assets
i)
ii)
iii)
e) Deferred corst
Description
Friends of Literacy and Mass Education (FLAME) was registered on May 5, 2001 under the Socities
Registration Act (XXI of 1860). The registered office of the trust is situated at Islamabad. The main
objectives of the organisation is to promote the cause of literacy and basic education in Pakistan.
Basis of Accounting
These accounts have been prepared under the historical cost convention.
Fixed assets
Assets and liabilities in foreign currencies are translated into Pak Rupees at the rate of exchange ruling
at the balance sheet date. Transactions in foreign currencies are accounted for in Pak Rupees at the rate
of exchange ruling on the date of transactions. Exchange differences are taken to income currently.
Deferred corst
These are amortized over a period of two years commencing from 2005.
Written
Cost Depreciation
down value
Description RATES
Additions
As at For the As at As at
during the
6/30/05 period 60/30/05 6/30/05
period
Furniture and fixtures 112,800 112,800 9,300 9,300 103,500 10%
Office equipment 27,000 27,000 559 559 26,441 20%
Electric equipment 56,575 56,575 1,875 1,875 54,700 20%
Computers and accessories 76,900 76,900 8,459 8,459 68,441 33%
Motor Cycles 90,520 90,520 5,969 5,969 84,551 20%
Motor Vehicle 650,000 650,000 - - 650,000 20%
Rupees: 1,013,795 1,013,795 26,162 26,162 987,633 -
4. Deferred Cost
Deposit
Deposit against office rent
Prepayments
Pre paid insurance- Motor cycle
Prepaid Rent
6. Bank Balances
7. Sundry Creditors
CHAIRMAN
2006 2005
Rupees Rupees
Deferred Cost
Prepayments
Pre paid insurance- Motor cycle 5,333
35,000 90,000
35,000 95,333
705,137 110,333
Bank Balances
Sundry Creditors
294,133 28,487
12 x 3,500 42,000
Less: Adjustment (2,000)
40,000
Drivers 2 Nos. Salary - Rs. 5,000
2 x 5,000 x 12 120,000
160,000
Schedules
Rent 485,000
Telephone Charges 118,490
Electricity Expense 143,211
746,701
Communication
Consultants' Fee
Total 2,618,742
Less:
Promotion & Information Expense (467,450)
Teachers Training (133,063)
(600,513)
2,018,229
Add:
Employees Salaries 1,112,587
3,130,816