JEREMIAS C. GARCIA Certifed Public Accountant Board Certifcate No. 0027698 408-C Cerin Bldg. Maharlia !i-"a# $icar%a& Cabanatuan Cit#
INDEPENDENT AUDITOR’S REPORT MACARIO C. ORTIZ LUIS (MY-MAR ENGINEERING AND INDUSTRIAL SYSTEM) Cabiao& Nue'a (ci)a * ha'e audited the acco%+an#in acco%+an#ing g fnancial ,tate%ent ,tate%ent o MY-MAR ENGINEERING AND INDUSTRIAL SYSTEM, "hich co%+ri,e the co%+arati'e ,tate%ent o fnancial +o,ition a, o $ece%ber /& 20/4 and 20/ the ,tate%en ,tate%entt o acti'iti acti'itie, e, and ca,h ca,h o", o", or the #ear #ear then then ended& ended& note, note, to fnancial fnancial ,tate%e ,tate%ent nt co%+ri,ing o ,u%%ar# o ,ignifcant accounting +olicie, and other e1+lanator# note,.
Management’s Responsibilities for the Financial Statements Manage%ent i, re,+on,ible or the +re+aration and the air +re,entation o the,e fnancial ,tate%ent, in accordanc accordance e "ith the Phili++ine Phili++ine inancial inancial 3e+orting 3e+orting tandard, tandard, or %all and Mediu%-,i5e Mediu%-,i5ed d (ntitie,. (ntitie,. hi, re,+on,ibilit# include, de,igning& i%+le%enting and %aintaining internal control rele'ant to the +re+aration and air +re,entation o ,tate%ent that are ree ro% %aterial %i,,tate%ent& "hether due to raud or error ,electing and a++l#ing a++ro+riate accounting +olicie, and %aing accounting e,ti%ate, that are rea,onable in the circu%,tance,.
Auditor’s Responsibility M# re,+on,ibilit# i, to e1+re,, an o+inion on the,e fnancial ,tate%ent, ba,ed on %# audit,. * conducted %# audit in accordance "ith Phili++ine tandard, on Auditing. ho,e ,tandard, reuire that * co%+l# "ith ethical reui reuire% re%ent ent, , and +lan +lan and +eror +eror% % the audit audit to obtain obtain rea,o rea,onabl nable e a,,ura a,,urance nce "hethe "hetherr the fnanci fnancial al ,tate%ent, are ree ro% %aterial %i,,tate%ent. An audit in'ol'e, +eror%ing +rocedure, to obtain audit e'idence about the a%ount, and di,clo,ure, in the fnancial ,tate%ent,. he +rocedure, ,elected de+end on the auditor:, )udg%ent& includin g the a,,e,,%ent o the ri, o %aterial %i,,tate%ent o the fnancial ,tate%ent,& "hether due to raud or error. *n %aing tho,e ri, ri, a,,e,, a,,e,,%en %ent& t& the audito auditorr con,id con,ider, er, intern internal al contr control ol rele' rele'ant ant to the entit# entit#:, :, +re+a +re+arat ration ion and air air +re,entation o the fnancial ,tate%ent, in order to de,ign audit +rocedure, that are a++ro+riate in the circu%,tance,& but not or the +ur+o,e o e1+re,,ing an o+inion o the e;ecti'ene,, o the entit#:, internal contr control. ol. An audit audit al,o al,o includ include, e, e'aluat e'aluating ing the a++ro a++ro+ria +riaten tene,, e,, o accoun accountin ting g +olici +olicie, e, u,ed u,ed and the rea,onablene,, o accounting e,ti%ate, %ade b# %anage%ent& a, "ell a, e'aluating the o'erall +re,entation o the fnancial ,tate%ent,. * belie'e that the audit e'idence * ha'e obtained i, ,u
Opinion *n %# o+inion& the fnancial ,tate%ent, +re,ent airl#& in all %aterial re,+ect,& the fnancial +o,ition o MY MY-MAR ENGINEERING AND INDUSTRIAL SYSTEM a, o $ece%ber /& 20/4 and 20/& ,tate%ent o acti'i acti'itie tie, , and it, ca,h ca,h o" or the #ear #ear then then ended ended in accor accordanc dance e "ith "ith Phili+ Phili++ine +ine inanci inancial al 3e+or 3e+orting ting tandard, or %all and Mediu%-,i5ed (ntitie,.
Report on Other Legal Regulatory Requirements he ,u++le%entar# inor%ation on ta1e, and licen,e, in Note to the fnancial ,tate%ent, i, +re,ented or +ur+o,e, o fling "ith the Bureau o *nternal 3e'enue and i, not a reuired +art o the ba,ic fnancial ,tate%ent,.
JEREMIAS C. GARCIA GARCIA *nde+endent *nde+endent Auditor *N /9-/=-69 CPA Certifcate No. 0027698
P3 No.CBN-064206 /-=-20/=& Cab. Cit# P3C B>A Accreditation No. 294& e+te%ber /9& 20/2 to e1+ire on $ece%ber /& 20/= C$A 3eg& No. C(A 0486 dated $ece%ber 20& 20/ to e1+ire on $ece%ber /9& 20/6 B*3 Accreditation Accreditation No. 04-00=29-/-20/4& *,,ued ?anuar# /& 20/4 to e1+ire on ?anuar# /& 20/7 A+ril /=& 20/= Attached inancial tate%ent, Not @alid "ithout Auditor:, $r# eal
JEREMIAS C. GARCIA Certifed Public Accountant Board Certifcate No. 0027698 408-C Cerin Bldg. Maharlia !i-"a# $icar%a& Cabanatuan Cit#
STATEMENT OF REPRESENTATION TO WHOM IT MAY CONCERN:
*n connection "ith %# e1a%ination o the fnancial ,tate%ent, o MY-MAR ENGINEERING AND INDUSTRIAL SYSTEM co'ering the +eriod ended $ece%ber /& 20/4 and 20/ that are here"ith ,ub%itted& * hereb# re+re,ent the ollo"ing /. hat ,aid fnancial ,tate%ent, here"ith attached are +re+ared and +re,ented in conor%it# "ith the inancial 3e+orting tandard, a++licable to %all and Mediu% (nter+ri,e, M(, in the Phili++ine,. 2. hat in the conduct o %# audit& * adhered to the Phili++ine tandard on Auditing .
hat * a% ualifed a, +ro'ided or in ection 8 o the Code o +roe,,ional (thic, or Certifed Public Accountant,
4. hat * a% ull# a"are o %# re,+on,ibilit# a, an inde+endent auditor or the audit re+ort i,,ued and attached to the fnancial ,tate%ent, and the ,anction, to be be,to"ed on %e or %# %i,re+re,entation, that * an# ha'e "illingl# or un"illingl# co%%itted =. hat * %ae re+re,entation in %# indi'idual ca+acit# 6. hat * a% a %e%ber o P*CPA in good ,tanding *t i, ho"e'er& under,tood that %# accountabilit# i, ba,ed on %atter "ithin the nor%al co'erage o an audit conducted in accordance "ith Phili++ine ,tandard, on Auditing.
JEREMIAS C. GARCIA *nde+endent Auditor *N /9-/=-69 CPA Certifcate No. 0027698 P3 No.CBN-064206 /-=-20/=& Cab. Cit# P3C B>A Accreditation No. 294& e+te%ber /9& 20/2 to e1+ire on $ece%ber /& 20/= C$A 3eg& No. C(A 0486 dated $ece%ber 20& 20/ to e1+ire on $ece%ber /9& 20/6 B*3 Accreditation No. 04-00=29-/-20/4& *,,ued ?anuar# /& 20/4 to e1+ire on ?anuar# /& 20/7 A+ril /=& 20/= Attached inancial tate%ent, Not @alid "ithout Auditor:, $r# eal
MY-MAR ENGINEERING AND INDUSTRIAL SYSTEM Cabiao& Nue'a (ci)a STATEMENT OF MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL STATEMENT
*& MACA3*> C. >3* DE* a% re,+on,ible or all inor%ation and re+re,entation, contained in the fnancial ,tate%ent, o MY-MAR ENGINEERING AND INDUSTRIAL SYSTEM or the #ear, ended Dee!"e# $%, &'% *+ &'%$. he fnancial ,tate%ent, ha'e been +re+ared in conor%it# "ith inancial 3e+orting tandard, a++licable to %all and Mediu% (nter+ri,e, M(,in the Phili++ine, and reect a%ount, that are ba,ed on the be,t e,ti%ate, and inor%ed )udg%ent o %anage%ent "ith an a++ro+riate con,ideration to %aterialit#. *n thi, regard& %anage%ent %aintain, a ,#,te% o accounting and re+orting& "hich +ro'ide, or the nece,,ar# internal control, to en,ure that tran,action, are +ro+erl# authori5ed and recorded& a,,et, are ,aeguarded again,t unauthori5ed u,e o di,+o,ition and liabilitie, are recogni5ed. * re'ie" the fnancial ,tate%ent, beore ,uch ,tate%ent, are a++ro'ed and ,ub%itted to the regulator#F,u+er'i,or# agencie,. ?ere%ia, C. Garcia& the inde+endent auditor * ha'e a++ointed& ha, e1a%ined the fnancial ,tate%ent, in accordance "ith Phili++ine tandard, on Auditing and and ha, e1+re,,ed it, o+inion on the airne,, o +re,entation u+on co%+letion o ,uch e1a%ination& in hi, re+ort.
igned under oath b# the ollo"ing MACARIO C. ORTIZ LUIS P##e/#
3(PEBD*C > !( P!*D*PP*N( C*H > CABANAEAN
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ub,cribed and ,"orn to beore %e thi, IIIIIIda# o IIIIIIIIIIIIIIIIII& 20/= at Cabanatuan Cit#. J*N( MH !AN$ AN$ N>A3*AD (AD.
u++le%entar# *nor%ation reuired b# Bureau o *nternal 3e'enue:, 3e'enue 3egulation 33 No. /=-20/0K >n No'e%ber 2=& 20/0 the Bureau o *nternal 3e'enue i,,ued 3e'enue 3egulation, 33 no /=-20/0 "hich +re,cribe, additional +rocedural andFor docu%entar# reuire%ent, in connection "ith the +re+aration and ,ub%i,,ion o fnancial ,tate%ent, acco%+an#ing the ta1 return,. Ender the ,aid 33& co%+anie, are reuired to di,clo,e& in addition to the di,clo,ure, %andated under P3, and ,uch other ,tandard, andFor con'ention, that %a# hereo be ado+ted& in the Note, to the inancial tate%ent,& inor%ation on ta1e,& dutie, and licen,e ee, +aid or accrued during the ta1able #ear. ollo"ing i, the reuired inor%ation under 33 no. /=-20/0 or the #ear ended $ece%ber /& 20/4 A. @alue Added a1 /. >ut+ut @A Non @A 2. *n+ut @A Non @A ubtotal . .
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