IFRS - BALANCE SHEET & STATEMENT OF INCOME

MDR GROUPS SHIPPING CO., LLC.
BALANCE SHEET AS OF 31 DECEMBER 2010
(AMOUNT S ARE EXPRESSED IN U.A.E. DIRHAMS)
		Schedule		Exhibit A
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents		1		5,01,774
Accounts Receivables		2		21,70,654
Prepayments and Other Receivables		3		1,91,147
Total Current Assets				28,63,575
Non- Current Assets
Property and Equipment		4		1,26,659
Total Non-Current Assets				1,26,659
Total Assets				29,90,234
LIABILITIES AND PARTNER'S EQUITY
CURRENT LIABILITIES
Accounts Payables		5		12,10,108
Post dated Cheques Issued				93,591
Accruals and Other Payables		6		1,84,911
Advance Received from Customers		6		10,257
Loans - Current Portion		1		17,400
Total Current Liabilities				15,16,267
NON-CURRENT LIABILITIES
Loans - Non Current Portion		1		23,350
Employee Benefits Obligation				30,225
Total Non-Current Liabilities				53,575
PARTNER'S EQUITY
Capital				1,50,000
Legal Reserves				55,539
Current Account				7,15,000
Profit for the Period				4,99,852
Total Partner's Equity				14,20,391
TOTAL LIABILITIES AND PARTNER'S EQUITY				29,90,233
MDR GROUPS SHIPPING CO., LLC.
STATEMENT OF INCOME FOR THE PERIOD FORM INCEPTION TO 31st DECEMBER 2010
(AMOUNT S ARE EXPRESSED IN U.A.E. DIRHAMS)
		Schedule		Exhibit B
INCOME
Direct Income		7		1,82,77,825
Direct Cost		7		1,60,84,517
Gross Profit		7		21,93,308
Other Income				86,422
				22,79,730
EXPENSES
General & Admn Expenses		8		-16,92,695
Depreciation		8		-31,644
				-17,24,339
Net Profit for the Period				5,55,391