Riverbed LTD Accounts Dec 2016

RIVERBED LIMITED
BALANCE SHEET
AND
ACCOUNTS
31 ST DECEMBER 2019
OASIS MALL
DEDAN KIMATHI ROAD
LUSAKA
RIVERBED LIMITED
ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2016
Contents Page
Accountants report 1
Appropriation account 2
Balance sheet 3
Notes 1 4
Notes 2 5
Profit and Loss Account 6
Tax Computation 7
RIVERBED LIMITED
ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2016
REPORT OF THE ACCOUNTANTS
We have prepared the accounts set out on pages 2 to 7 from the books, vouchers, information
and explanations given to us by the Directors. Adequate books of accounts have been maintained
and the accounts are in agreement therewith.
JM CHISANGA & COMPANY

CHARTERED ACCOUNTANTS
P.O. BOX 34575
LUSAKA
1
RIVERBED LIMITED
Appropriation Account
For The Year Ended 31st December 2016
2019
TURNOVER 4,354,562
PROFIT / (LOSS) BEFORE TAXATION (727,838)
TAXATION -
PROFIT /(LOSS) AFTER TAXATION (727,838)
RESERVES BROUGHT FORWARD 756,145
RESERVES CARRIED FORWARD 28,307
2
RIVERBED LIMITED
Balance Sheet
As At 31st December 2016
2016
NOTES K K
CAPITAL EMPLOYED
Tangible Assets 1 212,531
CURRENT ASSETS
Debtors and Prepayments 4 407,756

Cash at bank 6 104,907
512,663
CURRENT LIABILITIES
Creditors and accruals 5 691,888

691,888
NET CURRENT ASSETS/(LIABILITIES) (179,224)

NET ASSETS EMPLOYED 33,307
FINANCED BY:
Share Capital 7 5,000

Reserves 28,307
33,307
DIRECTORS : …………………………………………………
………………………………………………..
RIVERBED LIMITED
Notes to the Accounts
1 ACCOUNTING POLICIES
a) Basis of accounts preparation
These accounts have been prepared under the basis of historical cost convention.
b) Depreciation
Depreciation on fixed assets is based on their expected useful lives and has been calculated
at the rate of 25% per annum straight line basis.
c) Stocks
Stocks are valued by the Directors at the lower of cost and estimated net realisable value.
2 FIXED ASSETS
COST IT MOTOR FURNITURE TOTAL

EQUIPMENT VEHICLES &
FITTINGS
At 1st January 2016 268,820### 73,000 123,049 464,869

Additions - - 7,680 7,680
At 31st December 2016 268,820 73,000 130,729 472,549
Depreciation
Accumulated 91,534 22,813 27,534 141,881
Charge for the year 67,205 18,250 32,682 118,137
At 31st December 2016 158,739 41,063 60,216 260,018
N.B.V
At 31st December 2016 110,081 31,937 70,513 212,531
At 31st December 2015 268,820 73,000 123,049 341,820
3 SHARE CAPITAL
Authorised, Issued and fully paid 2016 2015
ordinary shares of K 1 each - - -

4
RIVERBED LIMITED
Notes to the Accounts
2016
K
4 DEBTORS AND PREPAYMENTS

Trade & Other Receivables 407,756
407,756
5 CREDITORS AND ACCRUALS

Trade & Other Payables 691,888
691,888
6 CASH AT BANK
FNB 104,907
104,907
7 SHARE CAPITAL 5,000
5
RIVERBED LIMITED
Trading , Profit and Loss Account
2016
K K
notes
SALES 4,354,562
Cost of sales 2,396,380

Gross Profit/Loss 1,958,181
ADMIN. EXPENSES
Entertainment 536
Stationery & Printing 6,944
Refreshments & Lunches 9,297
Telephones and Airtime 27,400
Depreciation 1 118,137
Fuel & Lubricants 28,176
IT Costs 150
General Expenses 11,771
Motor Vehicle Repairs 4,913
International Travelling 5,500
Cleaning Materials 1,419
Consultancy fees 25,225
Insurance & Licenses 3,680
Water & Electricity 16,501
Office & Space Rentals 279,760
Advertising and Promotion 196
Internet 188,057
Medical Aid 6,638
Security 6,345
Subscription 442
Salaries Control Account 1,163,278
Napsa - Social security 76,018
ZRA Paye 261,812
Directors Fees 436,324
2,686,019
NET PROFIT/(LOSS) BEFORE TAXATION (727,838)
6
RIVERBED LIMITED
Tax Computation For The Year Ended 31st December 2016
1 INCOME TAX COMPUTATION 2016
K K
Net Profit /(Loss) as per accounts (727,838)
Add back - Depreciation 261,812

261,812
(466,025)
Deduct - Capital allowance 68,364
CHARGEABLE INCOME (534,389)
Taxation thereon @ 35% -
Less Tax Paid -
TAX PAYABLE -
2 CAPITAL ALLOWANCE
I.T.V AT
COST B/F ADDITIONS WEAR & TEAR 31/12/2016
Furniture & Fittings 268,820.00 - 53,764 215,056

Office Equipment 73,000.00 - 14,600 58,400
341,820.00 - 68,364 273,456
3 ACCOUNTANCY FEES
JM Chisanga and Company
Box 34575
Lusaka 1,163,278

Riverbed LTD Accounts Dec 2016

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RIVERBED LIMITED

Profit and Loss Account 6

REPORT OF THE ACCOUNTANTS

JM CHISANGA & COMPANY

PROFIT / (LOSS) BEFORE TAXATION (727,838)

PROFIT /(LOSS) AFTER TAXATION (727,838)

RESERVES BROUGHT FORWARD 756,145

RESERVES CARRIED FORWARD 28,307

Tangible Assets 1 212,531

Debtors and Prepayments 4 407,756

Creditors and accruals 5 691,888

NET CURRENT ASSETS/(LIABILITIES) (179,224)

Share Capital 7 5,000

COST IT MOTOR FURNITURE TOTAL

At 1st January 2016 268,820### 73,000 123,049 464,869

At 31st December 2015 268,820 73,000 123,049 341,820

Authorised, Issued and fully paid 2016 2015

ordinary shares of K 1 each - - -

4 DEBTORS AND PREPAYMENTS

5 CREDITORS AND ACCRUALS

7 SHARE CAPITAL 5,000

Cost of sales 2,396,380

1 INCOME TAX COMPUTATION 2016

Net Profit /(Loss) as per accounts (727,838)

Add back - Depreciation 261,812

Taxation thereon @ 35% -

Less Tax Paid -

Furniture & Fittings 268,820.00 - 53,764 215,056

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