AGUILAR GOLDEN HARVEST MULTI-PURPOSE COOPERATIVE

Public Market, Poblacion Aguilar Pangasinan

STATEMENT OF FINANCIAL POSITION

As of December 31, 2020 and 2019
(All Amounts in Philippine Peso)

Notes 2020 2019

ASSETS
Current Assets
Cash 4,5 137,254.98 256,966.67
Total Current Assets 137,254.98 256,966.67

Noncurrent Assets
Property and Equipment(net) 4,6 10,987.50 10,987.50
Total Noncurrent Assets 10,987.50 10,987.50

TOTAL ASSETS 148,242.48 267,954.17

LIABILITIES AND EQUITY

Current Liabilities
Loan and other payables 4,7 - 192,468.13
Income Tax Payable 4,7 14,551.29 -
Total Current Liabilities 14,551.29 192,468.13

Non-current liabilities - -

TOTAL LIABILITIES 14,551.29 192,468.13

OWNER'S EQUITY
F. Cerezo Capital, beginning 686,044.72 653,000.00
Net Income 58,205.15 433,044.72
Total 744,249.87 1,086,044.72
F. Cerezo, Drawings 500,000.00 400,000.00
F. Cerezo capital, ending 244,249.87 686,044.72

TOTAL LIABILITIES AND OWNER'S EQUITY 258,801.16 878,512.85

See accompanying Notes to Financial Statements (110,559) (610,559)

 AGUILAR GOLDEN HARVEST MULTI-PURPOSE COOPERATIVE
Public Market, Poblacion Aguilar Pangasinan

STATEMENT OF FINANCIAL PERFORMANCE

For the years ending December 31, 2020 and 2019
(All Amounts in Philippine Peso)

Notes 2020 2019

REVENUE:
Professional Fees 8 138,000.00 109,227.00
Gross Profit 138,000.00 109,227.00

Operating Expenses
Distributive expenses 9 54,477.70 -
Administrative expenses 10 24,321.00 -
Other expenses 11 996.15 -
Total Operating expenses 79,794.85 -
Net Income 58,205.15 109,227.00

See accompanying Notes to Financial Statements

 AGUILAR GOLDEN HARVEST MULTI-PURPOSE COOPERATIVE
Public Market, Poblacion Aguilar Pangasinan

STATEMENT OF CASH FLOW

For the years ending December 31, 2020 and 2019
(All Amounts in Philippine Peso)

Notes 2020 2019

CASH FLOW FROM OPERATING ACTIVITIES
Net income (loss) 58,205.15 20,780.07
Add back depreciation - 3,662.50
Changes in current assets and liabilities
Loans and other payables 4,7 (192,468.13) (235,453.95)
Income Tax Payable 4,7 14,551.29 -
Cash generated from (used in) operation (119,711.69) (211,011.38)

CASH FLOW FROM INVESTING ACTIVITIES

Net addition to Property and Equipment 4,6 - -
Net Cash Provided by (used in) investing activities - -

CASH FLOW FROM FINANCING ACTIVITIES

Personal drawings - (400,000.00)
Net cash provided by (used in) financing activities - (400,000.00)

Net Change in Cash (119,711.69) (611,011.38)

Cash balance beginning 256,966.67 467,978.05

CASH, END OF YEAR 137,254.98 (143,033.33)

See accompanying Notes to Financial Statements

 2018

205,781.35
205,781.35

- 740,950.00
740,950.00

946,731.35

192,468.13 164,438.82
(14,551.29) 34,447.93
177,916.84 198,886.75 177,916.84

198,886.75

716,942.48
430,902.12 58,205.15
1,147,844.60
400,000.00
747,844.60

946,731.35
(610,558.68)
-
 2018

1,094,125.00
1,094,125.00

482,911.25
110,458.79
69,852.84
663,222.88
430,902.12 58,205.15
 2018

430,902.12 58,205.15
259,600.00

(306,239.32)
9,758.11
394,020.91

-
-

(400,000.00)
(400,000.00)

(5,979.09)

211,760.44

205,781.35 137,254.98
 AGUILAR GOLDEN HARVEST MULTI-PURPOSE COOPERATIVE
Public Market, Poblacion Aguilar Pangasinan
Notes to Financial Statements
As of December 31, 2020

1. GENERAL INFORMATION
The AGUILAR GOLDEN HARVEST MULTI-PURPOSE COOPERATIVE (referred hereinafter as
"Cooperative") was registered as a cooperative pursuant to RA 9520 for the purpose of
encouraging thrift and granting loans to members for productive, educational and providential
purpose, providing goods and services and oher requirements of the members, among others. The
Cooperative adopted its current name as per amended articles of cooperation as well as by-laws
during the Cooperative's General Assembly held last January 9, 2012.
The Cooperative's new name was granted by the Cooperative Development Authority per CDA
Registration No. 9520-01008673 last February 26, 2010. Under the RA 9520, the cooperative is
exempt from payment of income and sales taxes, provided that a substantial portion of its net
income is returned to members in the form of interest and or patronage refunds.
These financial statements of the cooperative for the year ended December 31, 2020 were
authorized for issue by the Board of Directors on April __, 2021.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a. Basis of financial statements preparation - The financial statements have been prepared in
conformity with Financial Reporting Standards applicable to the Philippine cooperatives.
b. Management's use of judgments and estimates - The financial statements are prepared in
conformity with the accounting principles accepted in the Philippines which requires
management to make estimates and assumptions that affect the amounts reported in the financial
statements and accompanying notes. Those estimates and assumptions used in the financial
statements are based on management's evaluation of relevant facts and circumstances as of date
of the financial statements. Actual results could differ from such estimates.
c. Estimated useful lives - The useful life of each of the cooperative's property or equipment is
estimated based on the period over which the asset is expected to be available for use. Such
estimation is based on a collective assesment of industry practice, internal technical evaluation
and experience with similar assets. The estimated useful life of each asset is reviewed periodically
and updated if expectations differ fromprevious estimates due to physical wear and tear,
technical or commercial obsolescence and legal or other limits on the used of the assets. It is
possible, however, that future results of operations could be materially affected by changes in the
amounts ang timing of recorded expenses brought about by changes in the factors mentioned.
d. Revenue recognition - Revenue is recognized when it is probable that the economic benefits
associated with the transaction will flow to the cooperative and the amount of revenue can be
measured reliably. Revenues from transactions of the cooperative are recognized on a modified
accrual basis and the point of sales and collection methods is the more applicable.
e. Property and Equipment - Property and Equipment are carried at cost less accumulated
depreciation. Depreciation is computed using the straight line method over the estimated useful
lives of the properties.

3. MANAGEMENT'S SIGNIFICANT ACCOUNTING JUDGEMENT AND ESTIMATES

 The estimates and assumptions used in the cooperative's financial statements are based upon
management's evaluation of relevant facts and circumstances as of the date of the cooperative's
financial statements. Actual results could differ from such estimates, judgements and estimates
are continually evaluated and are based on historical experience and other factors, including
expectationsof future events that are believed to be reasonable under the circumstances.
4. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The cooperative is exposed to credit risks that arise in the normal course of its business. Generally
the maximum credit risk exposure of financial assets is the carrying amount of the financial assets
as shown in the face of statement of financial condition. The cooperative continuosly monitors
defaults of customers and other counterparties, and incorporate this information into its credit
risk controls.
Cash
Cash includes cash on hand and cash in bank that are unrestricted and available for current
operations. This is stated in the statement of financial position at face amount.

Loans and Other Receivables

Measurement
Loans and other receivables, if any, are recognized and carried at transaction price less an
allowance for impairment.

Impairment
A provision for impairment of trade receivables is established when there is objective evidence
that the Entity will not be able to collect all amounts due according to the original terms of the
receivables. The amount of the provision is recognized in the statement of profit or loss. Bad debts
are written-off in the statement of profit or loss on identiication.
Judgement and Estimates
The allowance for doubtful debts of the Entity is based on the aging analysis and managements
continous evaluation of the recoverability of the outstanding receivables. In assessing the ultimate
realization of these receivables, management considers, among other factors, the
creditworthiness and the past collection history of each.

Property and Equipment

Property and equipment are initially measured at its cost. And subsequently measured at cost less
any accumulated depreciation or amortization and any accumulated impairment losses.
The initial cost of property and equipment comprises of its purchase price and any cost directly
attributable to bringing the asset to the location and condition necessary for it to be capable of
operating in the manner intended by management.

No property and equipment were pledged as security for liabilities for the years ending December
31, 2019, 2018 and 2017, respectively.

Based on management's assessment, as at December 31, 2019, 2018 and 2017 there is no
indication of impairment and the net carrying amount of property and equipment can be
recovered through its continuing use in operation.

For financial reporting purposes, depreciation is computed using the straight-line method over
the estimated useful lives of the assets. Likewise, for income tax reporting purposes, depreciation
is computed using the straight-line method.
The foregoing estimated useful lives and depreciation method are reviewed from time to time to
ensure that these are consistent with the expected economic benefits of the property, plant and
equipment.
An assessment is made at each reporting date as to whether there is an indication that previously
recognized impairment losses may no longer exist or may have decreased. If such indication
exists, the recoverable amount is estimated. A previously recognized impairment loss is reversed
only if there has been a change in the estimates used to determine the asset's recoverable amount
since the last impairment loss was recognized. If that is the case, the carrying amount of the asset
is increased to its recoverable amount. That increased amount cannot exceed the carrying amount
that would have been determined, net of depreciation and amortization, had no impairment loss
has been recognized for the asset in prior years. Such reversal is recognized in the statements of
income unless the asset is carried at revalued amount, in which case the reversal is treated as
revaluation increase. After such a reversal, the depreciation charge is adjusted in the future
periods to allocate the asset's revised carrying amount, less any residual value, on a systematic
basis over its remaining useful life.

Current Liabilities
Current liabilities pertain to interest on share capital and patronage refund and other payables
pertain to accruals.

Income Tax Payable

The tax currently payable for the year is computed based on applicable tax rates based on existing
tax laws. Taxable profit differs from the net profit as reported in the statement of income because
it excludes items that are never taxable or deductible. The reconciliation of the company's
liabilities for the current tax is calculated at applicable tax rates of the adjusted gross income.

Owner's Equity
Equity account pertains to share capital, plus additions to those investments earned through
profitable operations minus treasury shares to share capital as a result of reserved stock set aside
to raise funds or may use for future investments payments. These shares can be reissued to
existing shareholders to reduce dilution from incentive compensation plans. Treasury shares
consists of shares issued but not outstanding.

Revenue Recognition
Revenue is recognized to the extent that it is probable that the economic benefits will flow to the
Company and the amount of revenue can be measured reliably.

Cost and Expense recognition

Expenses are decreases in economic benefits in the form of decreases in assets or incurrence of
liabilities that result in decreases in equity, other than those relating to distributions to equity
participants. Expenses are generally recognized when the services are received or when the
expenses are incurred.

Income Tax
Income Tax Expense and deferred tax expense. The current tax expense is based on taxable profit
for the year.
5. CASH
Cash consists of cash on hand and cash deposited in local banks. These items are set aside for
current purposes and measure at face value.
2020 2019
Cash on hand 137,254.98 256,966.67
Cash in bank - -
Total 137,254.98 256,966.67

6. PROPERTY AND EQUIPMENT

Property and Equipment consist of the following:
December 31, Retirement / December 31,
Cost Addition
2019 (Disposal) 2020
Computer Equipment -
Furnitures & Fixtures -
Service Vehicle -
- - - -

Less: Accumulated. Depreciation

Computer Equipment -
Furnitures & Fixtures -
Service Vehicle -
- - - -
Carrying Value - -

Depreciation Expense 2020

Computer Equipment
Furnitures & Fixtures
Service Vehicle
Total -

Depreciation is computed on a straight line method over the estimated useful life of the assets.

7. LOANS AND OTHER PAYABLES

This account represents the following:
2020 2019
Interest on Share Capital & Patronage Refund - 192,468.13
Other current liabilities - -
Total #NAME? #NAME?

8. REVENUE
This account represents:
2020 2019
Professional Fee 138,000.00 109,227.00
Total 138,000.00 109,227.00

9. DISTRIBUTIVE EXPENSES
 2020 2019
#NAME? #NAME?
#NAME? #NAME? #NAME?
Depreciation - -
Gas, Oil & Lubricants 20,873.05 -
Rental 13,200.00 -
Representation Expense 13,601.65 -
#NAME? #NAME? #NAME?
Tolling fees - -
Training and Seminars - -
Travel & Transportation Expense 1,303.00 -
Total #NAME? #NAME?

10. ADMINISTRATIVE EXPENSES

2020 2019
Communication, light and water 22,921.00 -
Gov'tContributions (SSS, PHIC & HDMF) - -
Other services - -
Taxes and licenses 1,400.00 -
Total 24,321.00 -
Administrative expense are recognized in the statement of income on the date they are incurred.

11. OTHER EXPENSES

2020 2019
#NAME? #NAME? #NAME?
Interest expense - -
Miscellaneous expense 996.15 -
Total #NAME? #NAME?

12. SUPPLEMENTARY TAX INFORMATION UNDER REVENUE REGULATION NO. 15-2010 AND
19-2011
On November 25, 2010, The Bureau of Internal Revenue (BIR) issued Revenue Regulation (RR)
15-2010, which required certain information on taxes, duties and license fees paid or accrued
during taxable year to be disclosed as part of the notes to financial statements. This supplemental
information, which is an addition to the disclosures mandated under PFRS for SEs, is presented as
follows:

Taxes and Licenses

This account consists of: 2020 2019
BIR Annual Registration - -
Cedula - -
LTO Registration - -
Percentage Tax - -
PTR - -
Total Taxes and Licenses - -
 2018
(668,171.95)
1,136,150.00
467,978.05

-
-
-
-

Per month
-
-
-
- -

2018
177,922.08
250,000.00
#NAME?

2018
150,600.00
150,600.00
Checking Only 2018
#NAME? #NAME?
#NAME?
-
-
-
-
#NAME?
-
-
- -
#NAME?

2018
50,072.04
25,920.00
34466.75

110,458.79

2018
#NAME?
-
-
#NAME?

2018
-
-
-
-
-
-
 AGUILAR GOLDEN HARVEST MULTI-PURPOSE COOPERATIVE
Public Market, Poblacion Aguilar Pangasinan
Statement of Financial Position
As of December 31, 2020
ASSETS 2020 2019
CURRENT ASSETS 75,486.04 (945,491.51)
Cash on hand 137,254.98 256,966.67
Cash in bank
Accounts Receivable 791,150.00
Total 137,254.98 256,966.67
Other Current Assets
Prepaid Insurance
Creditable Income Tax
Total - -
TOTAL CURRENT ASSET 137,254.98 256,966.67
NON-CURRENT ASSETS
Computer Equipment
Furnitures and Fixtures 10,987.50 14,650.00
Service Vehicle
Total 10,987.50 14,650.00
Less: Accumulated depreciation 3,662.50
Carrying value (PPE) 10,987.50 10,987.50 10,987.50
TOTAL ASSETS 148,242.48 267,954.17
LIABILITIES AND CAPITAL
LIABILITIES
Income tax payable 14,551.29
Loans payable -
Interest on Share Capital & Patronage Refund - 192,468.13
Other current liabilities
- 192,468.13
Owner's equity
Share Capital 653,000.00
Statutory Funds 58,205.15 367,977.55
Total Equity 58,205.15 1,020,977.55
TOTAL LIABILITIES AND CAPITAL 72,756.44 1,213,445.68
75,486.04 (945,491.51)
Statement of Financial Performance
For the year December 31, 2020

REVENUE 138,000.00 109,227.00

LESS: COST OF SALES
Merchandise Inventory, beg. - -
Purchases - -
Total Goods Available for Sales - -
Merchandise Inventory, end - -
Total - -
GROSS PROFIT 138,000.00 109,227.00
OTHER INCOME - -
LESS: OPERATING EXPENSES:
Depreciation -
Employees benefit
Gas, Oil & Lubricants 20,873.05
Professional fees 5,500.00 -
Honorarium & Allowances - -
Rental 13,200.00
Representation Expense 13,601.65
Salaries & 13th month -
Security services -
Tolling fees
Training and Seminars
Travel & Transportation Expense 1,303.00
DISTRIBUTATIVE COST 54,477.70 -
Communication, light and water 22,921.00
Gov'tContributions (SSS, PHIC & HDMF) -
Other services -
Taxes and licenses 1,400.00
ADMINISTRATIVE EXPENSES 24,321.00 -
Interest expense -
Miscellaneous expense 996.15
 OTHER EXPENSES 996.15 -
TOTAL OPERATING EXPENSES 79,794.85 88,446.93
PROFIT 58,205.15 20,780.07
Less: Provision for income tax #DIV/0! - -
Net Income 58,205.15 20,780.07

Net Surplus Distributed as follows:

Reserve Fund 2,078.01
Education and Training Fund Due - to Federatiom 1,039.00
Education and Training Fund - Local 1,039.00
Community Development Fund 623.40
Optional Ffund 1,454.60
Interest on Share Capital & Patronage Payable 14,546.05
Net Surplus as Distributed: 20,780.06

58,205.15 0.01

Statement of Cash Flows

As of December 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES: 2020 2019
Net Surplus (Loss) 58,205.15 20,780.07
Adjfor:Depreciation - 3,662.50
Increase(Decrease) in loans and other payables (192,468.13) (235,453.95)
Increase (Decrease) in income tax payable 14,551.29 -
CASH GENERATED FROM (USED IN) OPERATION (119,711.69) (211,011.38)
CASH FLOW FROM INVESTING ACTIVITIES
Net Addition to Property and Equipment
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES - -
CASH FLOW FROM FINANCING ACTIVITIES
Decrease in capital
Payment for computer equipment
Personal Drawing - -
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES - -
NET INCREASE IN CASH (119,711.69) (211,011.38)
CASH, BEG. 256,966.67 467,978.05
CASH, ENDING BALANCE 137,254.98 256,966.67

Schedule of Taxes and Licenses

Particulars Amount Amount
BIR Annual Registration
BIR-certification & doc stamp
Cedula
LTO Registration
Percentage Tax
PTR
Total - -

PPE
Schedule of Depreciation
- - -
Service Vehicle - - -
Computer Equipment - -
- - -
(14,850.00) (10,987.50) (14,650.00)

Prepared by: JIPB

Asst.Accountant

Certified correct: FMC/MBC/JJ

Proprietor/Accountant/Acctg Analyst
 2018 2017
(972,037.56) -
(668,171.95)
1,136,150.00

467,978.05 -

- -
467,978.05 -

- -
29500 14,650.00
- -
29,500.00 -
14,850.00
14,650.00 -
482,628.05 -

177,922.08
250,000.00
427,922.08 -

665,000.00
361,743.53
1,026,743.53 -
1,454,665.61 -
(972,037.56) -

150,600.00

- -
- -
- -
- -
- -
150,600.00 -
200.00 -

-
-
Rental is multiply to 12 months

-
-
Exp Q1
Q2
Q3
- - Q4

-
-
- 273,700.40
 - -
110,744.03 - 110,744.03
40,055.97 - 12,016.79
- - (12,016.79)
40,055.97 - (40,055.97)

4,005.60
2,002.80
2,002.80
1,201.68
2,803.92
28,039.18
40,055.98

(0.01) -

2018 2017
40,055.97 -
-
427,922.08
-
467,978.05 -

- -
2020
Net Income
- -
-
- -
467,978.05 - Taxable Income
- Fixed
467,978.05 - Variable tax 58,205.15
Total tax due
Less: tax paid for 3 quarters
Amount Amount less: 2307

Tax Payable
2 installment

- -

- -
- -

- -
(29,500.00) -
21132.28
9840.43 30972.71
 58,205.15

58,205.15

14,551.29
14,551.29

14,551.29
7,275.64
 AGUILAR GOLDEN HARVEST MULTI-PURPOSE COOPERATIVE
Public Market, Poblacion, Aguilar, Pangasinan
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2019 & 2018

1. GENERAL INFORMATION

The AGUILAR GOLDEN HARVEST MULTI-PURPOSE COOPERATIVE (referred hereinafter as "Cooperati

registered as a cooperative pursuant to RA 9520 for the purpose of encouraging thrift and granting
members for productive, educational and providential purpose, providing goods and services a
requirements of the members, among others. The Cooperative adopted its current name as per amended a
cooperation as well as by-laws during the Cooperative's General Assembly held last January 9, 2012.

The Cooperative's new name was granted by the Cooperative Development Authority per CDA Registra
9520-01008673 last February 26, 2010. Under the RA 9520, the cooperative is exempt from payment o
and sales taxes, provided that a substantial portion of its net income is returned to members in the form of
and or patronage refunds.

These financial statements of the cooperative for the year ended December 31, 2019 were authorized for
the Board of Directors on June __, 2020.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a. Basis of financial statements preparation - The financial statements have been prepared in conform
Financial Reporting Standards applicable to the Philippine cooperatives.

b. Management's use of judgments and estimates - The financial statements are prepared in conformity
accounting principles accepted in the Philippines which requires management to make estimates and assu
that affect the amounts reported in the financial statements and accompanying notes. Those estim
assumptions used in the financial statements are based on management's evaluation of relevant f
circumstances as of date of the financial statements. Actual results could differ from such estimates.

c. Estimated useful lives - The useful life of each of the cooperative's property or equipment is estimated b
the period over which the asset is expected to be available for use. Such estimation is based on a c
assesment of industry practice, internal technical evaluation and experience with similar assets. The e
useful life of each asset is reviewed periodically and updated if expectations differ fromprevious estimate
physical wear and tear, technical or commercial obsolescence and legal or other limits on the used of the
is possible, however, that future results of operations could be materially affected by changes in the amo
timing of recorded expenses brought about by changes in the factors mentioned.
 assesment of industry practice, internal technical evaluation and experience with similar assets. The e
useful life of each asset is reviewed periodically and updated if expectations differ fromprevious estimate
physical wear and tear, technical or commercial obsolescence and legal or other limits on the used of the
is possible, however, that future results of operations could be materially affected by changes in the amo
timing of recorded expenses brought about by changes in the factors mentioned.

d. Revenue recognition - Revenue is recognized when it is probable that the economic benefits associated
transaction will flow to the cooperative and the amount of revenue can be measured reliably. Revenu
transactions of the cooperative are recognized on a modified accrual basis and the point of sales and c
methods is the more applicable.

e. Property and Equipment - Property and Equipment are carried at cost less accumulated depr
Depreciation is computed using the straight line method over the estimated useful lives of the properties.

3. MANAGEMENT'S SIGNIFICANT ACCOUNTING JUDGEMENT AND ESTIMATES

The estimates and assumptions used in the cooperative's financial statements are based upon mana
evaluation of relevant facts and circumstances as of the date of the cooperative's financial statement
results could differ from such estimates, judgements and estimates are continually evaluated and are b
historical experience and other factors, including expectationsof future events that are believed to be re
under the circumstances.

4. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The cooperative is exposed to credit risks that arise in the normal course of its business. Generally the m
credit risk exposure of financial assets is the carrying amount of the financial assets as shown in the
statement of financial condition. The cooperative continuosly monitors defaults of customers an
counterparties, and incorporate this information into its credit risk controls.

5. CASH
This account consists of:
2019
Cash on hand 50,000.00
Cash in Bank 310,493.33
Total Cash 360,493.33

6. LOANS AND OTHER RECEIVABLES

This account consists of:
2019
Loans Receivable 929,150.00
Total Loans and other receivables 929,150.00

7. PROPERTY AND EQUIPMENT

This account consists of the following:

12/31/2018
COST
 Furniture & Fixture 29,500.00
Accumulated Depreciation 14,850.00
Total Carrying Value 14,650.00

Depreciation is calculated on a straight-line basis over the useful lives of the assets as follows:
Furnitures and Fixtures

No property and equipment were pledged as security for liabilities for the years ending December 31, 2
2017, respectively.
Based on management's assessment, as at December 31, 2018 and 2017 there is no indication of impairm

the net carrying amount of property and equipment can be recovered through its continuing use in operati
For financial reporting purposes, depreciation is computed using the straight-line method over the e
useful lives of the assets. Likewise, for income tax reporting purposes, depreciation is computed using the
line method.
The foregoing estimated useful lives and depreciation method are reviewed from time to time to ensure th

are consistent with the expected economic benefits of the property, plant and equipment.

8. Current Liabilities 2019

Interest on Share Capital & Patronage Refund 192,468.13
Other Current Liabilities 250,000.00
Total Current Liabilities 442,468.13

9. REVENUES 2019
Income from loan 28,980.00
Total Revenues 28,980.00

10.Other Income 2019

Membership Fee -
Total Other Income -

11.Share Capital 2019

Authorized 19,040 shares at Php 100 par value 1,904,000.00

Beginning balance 665,000.00

Add: Additional Capital -
Less: Treasury Shares (12,000.00)
Total Share Capital 653,000.00

12.INTEREST ON SHARE CAPITAL/PATRONAGE REFUND/& STATUTORY FUNDS

 DISTRIBUTED AS FOLLOWS: 2019
Reserve Fund (54,477.35)
Education and Training Fund-Due to Federation -
Education and Training Fund-Local -
Community Development Fund -
Optional Fund -
Interest on Share Capital and Patronage Payable -
NET SURPLUS AS DISTRIBUTED (54,477.35)

13.OPERATING EXPENSES 2019

Office Supplies -
Depreciation 3,662.50
Honorarium & Allowances #REF!
Taxes and Licenses 100.00
Travel & Transportation #REF!
Rent #REF!
Professional Fees #REF!
Communication #REF!
Gas, Oils & Lubricants #REF!
Representations #REF!
Miscellaneous #REF!
Meetings & Conference #REF!
Total Operating Expenses #REF!

14.ALLOCATION AND DISTRIBUTION OF NET SURPLUS

The Cooperative's constitution and by-laws explicitly provides that its net surplus at the end of the fisca
distributed in the following manner:
a. Reserve Fund- Ten percent(10%) shall be set aside for the reserve fund. The reserve fund shall be
the stability of the cooperative and to meet net losses in its operations.
b. Cooperative Education Training Fund- Ten percent (10%) education and training shall be set asid
the amount transferred to the educationand training fund annually under this shall be spent by the cooper
education and training purposes; while the other half may be remitted to a union or federation chose
cooperative.
c. Community Development Fund- This is computed at three percent (3%) of the cooperative's net

This is used for projects or activities that will benefit the community where the cooperative operates.
d. Optional Fund- This is computed at seven percent (7%) of the cooperative's net surplus set aside
and building fund and other necessary fund.
e. Interest on Share Capital and Patronage Refunds- After the deduction of the statutory accou
remaining net surplus shall be distributed to the cooperative's members in the form of interest not to ex
normal rate of return on investments and patronage refunds.
 POSE COOPERATIVE
angasinan
MENTS
18

E (referred hereinafter as "Cooperative") was

e of encouraging thrift and granting loans to
e, providing goods and services and oher
ed its current name as per amended articles of
embly held last January 9, 2012.

elopment Authority per CDA Registration No.

ooperative is exempt from payment of income
is returned to members in the form of interest

cember 31, 2019 were authorized for issue by

ments have been prepared in conformity with

ves.

atements are prepared in conformity with the

nagement to make estimates and assumptions
d accompanying notes. Those estimates and
nagement's evaluation of relevant facts and
ould differ from such estimates.

property or equipment is estimated based on

se. Such estimation is based on a collective
experience with similar assets. The estimated
ectations differ fromprevious estimates due to
egal or other limits on the used of the assets. It
erially affected by changes in the amounts ang
mentioned.
that the economic benefits associated with the
ue can be measured reliably. Revenues from
ual basis and the point of sales and collection

ried at cost less accumulated depreciation.

imated useful lives of the properties.

STIMATES

al statements are based upon management's

the cooperative's financial statements. Actual
s are continually evaluated and are based on
ture events that are believed to be reasonable

course of its business. Generally the maximum

the financial assets as shown in the face of
monitors defaults of customers and other
ontrols.

2018
50,000.00
223,308.18
273,308.18

2018
1,136,150.00
1,136,150.00

ADDITIONS 12/31/2019
 - 29,500.00
3,662.50 18,512.50
10,987.50

ives of the assets as follows:

5 years

for the years ending December 31, 2018 and

2017 there is no indication of impairment and

d through its continuing use in operation.

the straight-line method over the estimated
s, depreciation is computed using the straight-

eviewed from time to time to ensure that these

plant and equipment.

2018
177,922.08
-
177,922.08

2018
109,227.00
109,227.00

2018
200.00
200.00

2018
1,904,000.00

661,000.00
-
-
661,000.00

TORY FUNDS
 2018
2,078.01
1,039.00
1,039.00
623.40
1,454.60
14,546.05
20,780.07

2018
-
2,950.00
-

2,399.00
10,648.00
10,500.00
12,000.00
33,939.34
37,957.69
350.00
-
110,744.03

at its net surplus at the end of the fiscal year be

eserve fund. The reserve fund shall be used for

ns.
ducation and training shall be set aside. Half of
under this shall be spent by the cooperative for
mitted to a union or federation chosen by the

percent (3%) of the cooperative's net surplus.

where the cooperative operates.

he cooperative's net surplus set aside for land

the deduction of the statutory accounts, any

mbers in the form of interest not to exceed the
AGUILAR GOLDEN HARVEST MULTI-PURPOSE COOPERATIVE
SCHEDULE OF PPE
As of December 31, 2020

PROPERTY AND EQUIPMENT

Property and Equipment consist of the following:
December 31,
Cost Addition
2019
Computer Equipment
Furnitures & Fixtures
Service Vehicle
- -

Less: Accumulated. Depreciation

Computer Equipment
Furnitures & Fixtures
Service Vehicle
- -
Carrying Value -

Depreciation Expense
Furnitures & Fixtures
Computer Equipment
Service Vehicle
Total

Depreciation is computed on a straight line method over the estimated useful life of the assets.
 Retirement / December 31,
(Disposal) 2020 1st 2nd
- - -
- -
- -
- - -

-
-
-
- -
-

2020 Per month

-
-
-
- -

ated useful life of the assets.

total UL
-

-
AGUILAR GOLDEN HARVEST MULTI-PURPOSE COOPERATIVE
CASH RECEIPTS
FOR THE YEAR 2020

SALES SUMMARY SUMMARY INVOICE NUMBERS EXEMPTED GROSS

GROSS NET SALES - -

Per Month Per QTR Per Month Per QTR TOTAL -
JAN - -
FEB - -
MAR - - - -
APR - -
MAY - -
JUNE - - - -
JULY - -
AUG - -
SEPT - - - -
OCT - -

NOV - -
DEC - - - -
- - - -
SUMMARY
GROSS RECEIPTS Remarks 2551Q TAX DUE (3%) CREDITABLAMOUNT PAYABLE 1701Q TAXABLE TAX DUE REMARKS
BIR2307 2551Q ALLO.DEDUCTINET INCOME TAX.FPQ INCOME (Graduated-Itemized)

JAN -
FEB -
MAR - - - - - - -
APR -
MAY -
JUNE - - - - - - -

JULY -
AUG -
SEPT - - - - - - -
OCT -
NOV -
DEC - - - -

TOTAL - - - - - - - - - -

2020 COMPUTATION OF TAX

Gross Revenue - TAX PAYMENT
Less: Allo. Deductions 79,794.85 BIR2307 2551Q 0605 1701Q Others/Penalty Total
Net Income 400,000.00 (79,794.85) Q3 - - -
Excess (479,794.85) 0.25 240 INC.TAX2ND -
Tax Due Add: 30,0000 (89,948.71) Q2 - - -
1701 - Voluntary -
Less: Tax Payments Q1 - -
1701Q (Q1,Q2,Q3) - Annual Registration Fee -
240.00 Total - - - - - ! This is not the Percentage Tax
(only a summary of Tax Payment)
BIR 2307 (Q4)
Total - Percentage TAX is: Gross Rev. -
Tax Payable (89,948.71) Multiply to: Percentage 3%
Total -
AGUILAR GOLDEN HARVEST MULTI-PURPOSE COOPERATIVE Sales 138,000
CASH DISBURSEMENT
FOR THE YEAR 2020

MONTH ADMINITRATION EXPENSES OTHER EXPENSES TOTAL

Representation Transportation & Government Other Interest
JANUARY Depreciation Expenses Gas, Oil & Lubricants Rental Expenses Professional Fees Travel Communication, Light & Water Contribution Services Taxes and Licenses Expenses Miscellaneous
422.00 1,100.00 1,001.00 40.00 330.00 540.00 3,433.00
410.00 1,100.00 224.00 184.00 800.00 2,718.00
600.00 516.00 40.00 270.00 1,426.00
621.00 830.36 104.00 1,555.36
500.00 147.86 50.00 697.86
500.00 157.00 40.00 697.00
700.00 105.00 19.00 824.00
200.00 230.00 64.00 494.00
200.00 110.71 64.00 374.71
700.00 184.86 40.00 924.86
596.25 1,931.39 295.00 2,822.64
700.00 205.71 293.00 1,198.71
500.00 105.00 605.00
100.00 305.14 405.14
137.14 137.14
142.00 142.00
351.00 351.00
644.00 644.00
1,399.00 1,399.00
-
Adj. 212.86 70.00 282.86
Totals - 6,749.25 2,200.00 8,940.03 - 1,303.00 - - - 1,400.00 - 540.00 21,132.28

MONTH ADMINITRATION EXPENSES TOTAL

Representation Transportation & Government Other Interest
FEBRUARY Depreciation Expenses Gas, Oil & Lubricants Rental Expenses Professional Fees Travel Communication, Light & Water Contribution Services Taxes and Licenses Expenses Miscellaneous
No Expenses -
Totals - - - - - - - - - - - -

MONTH ADMINITRATION EXPENSES TOTAL

Representation Transportation & Government Other Interest
MARCH Depreciation Expenses Gas, Oil & Lubricants Rental Expenses Professional Fees Travel Communication, Light & Water Contribution Services Taxes and Licenses Expenses Miscellaneous
No Expenses -
Totals - - - - - - - - - - - -

MONTH ADMINITRATION EXPENSES TOTAL

Representation Transportation & Government Other Interest
APRIL Depreciation Expenses Gas, Oil & Lubricants Rental Expenses Professional Fees Travel Communication, Light & Water Contribution Services Taxes and Licenses Expenses Miscellaneous
Lockdown -
Totals - - - - - - - - - - - -

MONTH ADMINITRATION EXPENSES TOTAL

Representation Transportation & Government Other Interest
MAY Depreciation Expenses Gas, Oil & Lubricants Rental Expenses Professional Fees Travel Communication, Light & Water Contribution Services Taxes and Licenses Expenses Miscellaneous
No Expenses -
Totals - - - - - - - - - - - -

MONTH ADMINITRATION EXPENSES TOTAL

Representation Transportation & Government Other Interest

JUNE Depreciation Expenses Gas, Oil & Lubricants Rental Expenses Professional Fees Travel Communication, Light & Water Contribution Services Taxes and Licenses Expenses Miscellaneous
5 139.29 139.29
6 134.40 134.40
134.40 134.40
10 4,000.00 4,000.00
11 199.00 199.00
16 110.71 110.71
Adj 122.63 122.63
Adj 5,000.00 5,000.00
Totals 5,391.43 - 449.00 4,000.00 - - - - - - - 9,840.43

MONTH ADMINITRATION EXPENSES TOTAL

Representation Transportation & Government Other Interest
JULY Depreciation Expenses Gas, Oil & Lubricants Rental Expenses Professional Fees Travel Communication, Light & Water Contribution Services Taxes and Licenses Expenses Miscellaneous
2 660.00 660.00
9 650.00 650.00
15 -
16 50.00 50.00
18 7,300.00 7,300.00
22 150.00 150.00
350.00 350.00
24 608.00 608.00
25 100.00 100.00
28 320.57 100.00 420.57
29 500.00 100.00 600.00
Adj 1,102.37 252.00 1,354.37
Totals 3,562.37 - 1,180.57 - - 7,300.00 - - - - 200.00 12,242.94

MONTH ADMINITRATION EXPENSES TOTAL

Representation Transportation & Government Other Interest
AUGUST Depreciation Expenses Gas, Oil & Lubricants Rental Expenses Professional Fees Travel Communication, Light & Water Contribution Services Taxes and Licenses Expenses Miscellaneous
4 500.00 500.00
7 500.00 500.00
11 500.00 500.00
500.00 500.00
14 1,000.00 1,000.00
20 500.00 500.00
8,000.00 8,000.00
26 123.57 123.57
27 500.00 500.00
Adj 160.91 160.91
Totals 2,500.00 - 1,284.48 - - 8,500.00 - - - - - 12,284.48
MONTH ADMINITRATION EXPENSES TOTAL
Representation Transportation & Government Other Interest
SEPTEMBER Depreciation Expenses Gas, Oil & Lubricants Rental Expenses Professional Fees Travel Communication, Light & Water Contribution Services Taxes and Licenses Expenses Miscellaneous
8 500.00 110.71 610.71
15 -
23 664.29 664.29
571.43 571.43
Adj 170.00 256.15 426.15
Totals 670.00 - 1,346.43 - - - - - - - 256.15 2,272.58

MONTH ADMINITRATION EXPENSES TOTAL

Representation Transportation & Government Other Interest
OCTOBER Depreciation Expenses Gas, Oil & Lubricants Rental Expenses Professional Fees Travel Communication, Light & Water Contribution Services Taxes and Licenses Expenses Miscellaneous
2 500.00 500.00
16 500.00 500.00
19 24.00 24.00
20 3,972.00 3,972.00
Adj. 500.00 85.71 1,500.00 2,085.71
Totals 1,500.00 - 109.71 1,500.00 - 3,972.00 - - - - - 7,081.71

MONTH ADMINITRATION EXPENSES TOTAL

Representation Transportation & Government Other Interest
NOVEMBER Depreciation Expenses Gas, Oil & Lubricants Rental Expenses Professional Fees Travel Communication, Light & Water Contribution Services Taxes and Licenses Expenses Miscellaneous
23 -
24 3,149.00 3,149.00
Totals - - - - - 3,149.00 - - - - - 3,149.00

MONTH ADMINITRATION EXPENSES TOTAL

Representation Transportation & Government Other Interest

DECEMBER Depreciation Expenses Gas, Oil & Lubricants Rental Expenses Professional Fees Travel Communication, Light & Water Contribution Services Taxes and Licenses Expenses Miscellaneous
29 500.00 291.43 791.43
Adj.. 11,000.00 11,000.00
Totals - 500.00 11,000.00 291.43 - - - - - - - - 11,791.43
 SUMMARY Representation Transportation & Government Other Interest
Depreciation Expenses Gas, Oil & Lubricants Rental Expenses Professional Fees Travel Communication, Light & Water Contribution Services Taxes and Licenses Expenses Miscellaneous
DISTRIBUTION - 20,873.05 13,200.00 13,601.65 5,500.00 1,303.00 54,477.70 DC
ADMIN 22,921.00 - - 1,400.00 24,321.00 AE
OTHERS - 996.15 996.15 OE
TOTAL 79,794.85 TOTAL
79,794.85 WP
- BALANCE
SUMMARY Q1 21,132.28 21,132.28 -
Q2 9,840.43 9,840.43 -
Q3 26,800.00 26,800.00 - -

-
Q4 22,022.14 22,022.14

TOTAL 79,794.85 -

-
AGUILAR GOLDEN HARVEST MULTI-PURPOSE COOPERATIVE
Tax Computation
As of December 31, 2020

2020 2019
Net Income 58,205.15 Net Income

Taxable Income 58,205.15 Taxable Income -

Fixed Fixed
Variable tax 58,205.15 25% 14,551.29 Variable tax - 25% -
Total tax due 14,551.29 Total tax due -
Less: tax paid for 3 quarters Less: tax paid for 3 quarters
less: 2307 less: 2307

Tax Payable 14,551.29 Tax Payable -

2 installment 7,275.64 2 installment -

TAX PAYMENT
BIR2307 2551Q 0605 1701Q Others/Penalty Total Percentage TAXGross R -
Q3 -
INC.TAX2ND - Multiply to: Percen 3%
Q2 - Total -
1701 - Voluntary -
Q1 -
Annual Registration Fee -
! This is not the Percentage Tax
- Total - - - - - (only a summary of Tax Payment)