Professional Documents
Culture Documents
Financial Statements
With Independent Auditors' Report
PT KRIDA MAKMUR BERSAMA
For the Year Ended March 31, 2011
Table of Contents
Page
Independent Auditors Report
Financial Stetments:
Statement of Financial Position
***************
5-14
NOTICE TO READERS
The accompanying financial statements are intended to present the financial position, results of operations and cash flows in
accordance with accounting principles and practices generally accepted in Indonesia and not those of any other jurisdiction.
The standards, procedures and practices to audit such financial statements are those generally accepted and applied in Indonesia.
Balance Sheets
PT KRIDA MAKMUR BERSAMA
March 31, 2011
(Expressed in Rupiah)
Notes
2011
ASSETS
NON CURRENT ASSETS
Due from related party
2c,2d,3
9,973,467,025
9,973,467,025
TOTAL ASSETS
9,973,467,025
4
2f,5a
35,100,000
650,000
35,750,000
TOTAL LIABILITIES
35,750,000
STOCKHOLDERS' EQUITY
Capital stock Rp 1,000,000 par value
Authorized 10,000 shares
10,000,000,000
(62,282,975)
Stockholders' equity
9,937,717,025
9,973,467,025
See accompanying notes to the financial statements which are an integral part
of the financial statements taken as a whole
Notes
2011
REVENUES
2e
COST OF SALES
2e
GROSS PROFIT
OPERATING EXPENSES
General expenses and administration
62,282,975
(62,282,975)
(62,282,975)
Current tax
2f, 5b
COMPREHENSIVE LOSS
(62,282,975)
See accompanying notes to the financial statements which are an integral part
of the financial statements taken as a whole
Stockholders
Equity
10,000,000,000
10,000,000,000
(62,282,975)
(62,282,975)
10,000,000,000
(62,282,975)
9,937,717,025
Retained
Earnings
See accompanying notes to the financial statements which are an integral part
of the financial statements taken as a whole
(62,282,975)
(62,282,975)
35,100,000
650,000
35,750,000
(26,532,975)
(9,973,467,025)
10,000,000,000
26,532,975
See accompanying notes to the financial statements which are an integral part
of the financial statements taken as a whole
GENERAL
PT Krida Makmur Bersama, was established in Indonesia based on notarial deed No.101
dated February 24, 2010 of Khairu Subhan, SH. and has been approved by the Ministry of
Justice and Human Right of the Republic of Indonesia in its decision letter number AHU32685.AH.01.01.TH.2011 dated July 29, 2010.
In
accordance
by The
Coordinating
Board
for
Investments
letter
No.
02741/1/PPM/PMA/2010 dated December 09, 2010, the company changed in the company's
status from non-Foreign Direct Investment firms or non-Domestic Investment (NonPMA/PMDN) to Foreign Direct Investment (PMA), at Jl Pahlawan No 1 RT.26,Samarinda.
According to article No. 3 Articles of the Association, Companys scope of business consist of
trading, services and mining.
The Member of the Company's Commissioners and Directors as of March 31, 2011 are as
follows:
March 31, 2011
Board of Commissioners
Head of Commissioner
Commissioner
Board of Directors
President Director
Director
2.
2.
2.
US Dollar
c.
8,709
(b) An entity is related to reporting entity if any of the following conditions applies :
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(vii)
The entity and the reporting entity are members of the same Company
(which means that each parent, subsidiary and fellow subsidiary is related to
the others).
One entity is an associate or joint venture of the other entity (or an associate
or joint venture of a member of a Company of which the other entity is a
member ).
Both entities are joint ventures of the same third party.
One entity is a joint venture of a third entity and the other entity is an
associate of the third entity.
The entity is a post-employement benefit planfor the benefit of employees of
either the reporting entity or an entity related to the reporting entity. If the
reporting entity is itself such a plan, the sponsoring employers are also
related to the reporting entity.
The entity is controlled or jointly controlled by a person identified in (a).
A person identified in (a)(i) has significant influence over the entity or is a
member of the key management personnel of the entity (or of a parent of the
entity).
Financial Instruments
The Company financial statements are prepared in accordance with the
Statement of Financial Accounting Standards (PSAK) No.50 (Revised 2006),
Financial Instruments: Presentation and Disclosures which aim to establish
principles for the presentation and disclosure of financial instruments as liabilities or
equity and for offsetting financial assets and financial liabilities. This
statement
applies to the classification of financial instruments, from the
perspective of the
issuer, into financial assets, financial liabilities and equity instruments, the
classification of related interest, dividends, losses and gains,
and
the
circumstances in which financial assets and financial liabilities should be
offset. The principles in this statement complement the principles for recognizing
and measuring financial assets and financial liabilities in PSAK No.55 (Revised
2006) on Financial Instruments: Recognition and Measurement.
The following terms are used in PSAK No.50, among others:
1. A financial instrument is any contract that adds value to the Companys financial
assets and financial liabilities or equity instrument of another entity.
2. Financial assets issued by other entities:
a. cash;
b. financial instruments issued by other entities;
c. contractual rights
d. contracts that will or may be resolved by using the equity instruments
issued by the Company and are:
- Non-derivative which the Company must or may be required to receive an
amount of money which varies from the equity instruments issued by the
Company; or
- a derivative that will or may be settled other than by exchanging a certain
amount of cash or other financial assets with a certain amount of equity
instruments issued by the Company.
3. A financial liability is any liability in the form of:
a.
contractual obligations;
- to deliver cash or another financial asset to another entity; or
- to exchange financial assets or financial liabilities with another entity
with potentially unfavourable conditions to such entities.
contracts
that will or may be resolved by using the equity instruments
b.
issued by the Company.
4. A financial instrument is any contract that gives residual rights over the
assets of an entity after deducting all its liabilities.
5. Fair value is the value at which an asset could be exchanged or a liability settled
between the parties to understand and willing to undertake a fair transaction.
f.
Income Tax
The Company adopted PSAK No. 46, Accounting for Income Taxes which requires the
recognition of deferred tax assets and liabilities for the expected future consequences of
temporary differences between tax basis and financial reporting basis of assets and
liabilities, including accumulated fiscal loss that can be compensated.
Deferred tax assets arising from tax losses are recognized when it is probable that
taxable profits will be available against which the unused tax losses carry-forward can
be utilized.
11
9,972,467,025
1,000,000
Total
9,973,467,025
This account represent receivable for purchasing shares of PT Krida Makmur Bersama by PT
Mesra Prima Coal and Mr Yusi Ananda, This transaction is non agreement, non interest
bearing, non collateralized and payable upon demand.
4.
ACCRUED EXPENSES
This account consists of:
2011
Legal and profesional fee
35,100,000
Total
35,100,000
12
TAXATION
a. Taxes payable
These accounts consist of:
2011
Withholding tax article 23
650,000
Total
650,000
(62,282,975
(62,282,975
The company does not recognize the deferred tax assets from estimated taxable loss
benefit since the future taxable profit to be compensated against current taxable loss
can not be estimated.
13
6.
CAPITAL STOCK
Based on notarial deed No. 02 dated January 28, 2011 of Dian Pertiwi, SH Authorized capital
of the Company is 10,000 shares with nominal value of IDR 1,000,000 per share or
equivalent to Rp 10.000.000.000. Total issued and paid up shares and the stockholders
composition as of March 31, 2011 are as follows:
Stockholders
PT Mesra Prima Coal
Mr. Yusi Ananda
Total
7.
Percentage
Of Ownership
Number of Shares
Total value
99,99%
0,01%
9,999
1
9,999,000,000
1,000,000
100%
10,000
10,000,000,000
59,032,975
3,250,000
Total
8.
62,282,975
Fair value
March 31, 2011
9,973,467,025
15
9,973,467,025