. plugintile.php/3179 Higher College of Higher College of logy e-learning RCC Company SAOG (the Company") is a joint stock company registered with the Ministry of Commerce and Industry on 1 March 2001, in accordance with the provisions of the Commercial Companies Law 1974, as amended, of the Sultanate of Oman. The Company's principal activity is the manufacturing of construction material. The Company's principal place of business is located at Ibri, Sultanate of Oman. Given below are the details of the balances as at the end of the year 2019: Share capital: The authorized share capital of the Company consists of 250,000,000 shares of Rial 0.100 cach. The issued and paid-up share capital of the Company consists of 246,844,730 shares. Trade and other payables include the following: Trade payables RO 2.241.975, Other accrued expenses RO 1.174,546, Accrued employee benefits RO 238,805, Advances from customers RO 51,260, Creditors for capital expenditure RO 33,338, Retentions payable RO 31,783, Social security taxes payables RO 10,163, Directors' remuneration payables RO 100,000 Cost of turnover for the year includes: Cost of raw materials and consumables RO 6,982.970, Frel and electricity RO 1,852,712, Direct wages RO 1,930,298, Repairs and maintenance RO 1,163,662 Other factory overheads RO 89,717 Provision for obsolete and slow-moving inventories RO 50,000 Other income has the following: Foreign exchange gains RO 33,312, Sale of scrap RO 43,150, Profit on sale of property, plant and equipment RO 11,615 Salaties and other related staff costs includes: Salaries RO 808,912, Other related staff costs RO 1,361,601 General and administrative expenses have the following expenditures: Vehicle maintenance RO 61,300, Travelling and conveyance RO 16,132. Insurance RO 49.975, Office rent RO 28.980, Registration and renewals RO 31.928, Communication expenses RO 27,800, Repairs and maintenance RO 31,238, Directors' remuneration and sitting fees RO 107,400, Miscellaneous expenses RO 56,539 Selling and distribution expense are Outward freight charges RO 2,417,057. Advertising expenses RO 576,327. Travelling expenses RO 175,833 Tax related expenses: The total Income tax expense for the year amounted to 1.285,184, current tax liability is 1.214,997 and deferred tax liability RO 377 595 The turnover for the year amounted to RO 30,828,916 The finance cost for the year totaled to RO 34,711 For the year there was unrealized fair value loss on available for sale investments of RO 656,062 Property plant and equipment includes the following assets as given below with their respective amounts of cost and accumulated depreciation as at the year-end: . . Plant and Machinery Buildings Freehold land Tools and lustres Cost RO 25 349.257 7,097,183 185.412 241.426 Accumulated Depreciation RO 9,766 881 2.404,891 221,112
