UGANDA CLEARING INDUSTRY & FORWARDING
ASSOCIATION
(UCIFA)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2010
Audited by:
Gemaco & Associates
Certified Public Accountants
Bwetwajja Building, 1st Floor, plot 232/226
UMA Showground Lugogo
P.O. Box 29864
Kampala.
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
TABLE OF CONTENTS
CONTENTS
PAGE
BACK GROUND INFORMATION
2
MANAGEMENT INFORMATION
3
EXECUTIVE COMMITTEE REPORT
4
EXECUTIVE COMMITTEE’S ASSERTIONS ON THE FINANCIAL STATEMENTS
5
INDEPENDENT AUDITORS REPORT
6
INCOME & EXPENDITURE STATEMENT
7
STATEMENT OF SURPLUS FUND
8
NOTES TO THE FINANCIAL STATEMENTS
9
LIST OF PAID UP MEMBERS
11
LIST OF UN-PAID MEMBERS
16
LIST OF T SHIRT DEBTORS
17
LIST COMPANIES WHO PAID FOR PASSES/ID CARDS
18
1
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
BACKGROUND INFORMATION
1.1
Background to UCIFA
1.2
UCIFA Membership

1.3
UCIFA Vision

1.4
The Current Membership of UCIFA consists of 151 member clearing firms whose staffing is
over 900 employees.
A modern, decentralized, self regulating and self Governing apex body of freight logistics
industry in the region
UCIFA Mission
 To develop a cohesive, formidable self sustaining Institution committed to fostering the unity of its
members; providing lobby and advocacy services to its members; Technical, advisory and
mediation role to all its stakeholders within the governing framework of National, Regional and
international rules and standards.
1.5
UCIFA Values





1.6
Professionalism, Ethics and Integrity
Enhanced stakeholder partnerships and mutual respect
Absolute tax compliance and zero tolerance to corruption
Adaptation and Versatility to changing global demands and order
Fostering and consolidating collaboration with other stake holders
UCIFA Objectives
To create better understanding between the Government in General and customs administration in
particular based on dialogue lobbying and existence of a strong partnership that stands between
us and Uganda Revenue authority
To ensure fair play in business relationship between members themselves and their clientele; To
promote and sustain an atmosphere of healthy competition within freight and forwarding industry;
To promote and develop a positive attitude and understanding amongst members in their
interaction with clients, and other relevant operators among others
2
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
1.0
MANAGEMENT INFORMATION
Head Office Address
Nakawa Industrial Area
MTAC Complex, Plot M175
Po box 2431, Kampala
NATIONAL EXECUTIVE COMMITTEE MEMBERS
Kassim Omar
Manana Wadamba Walter
Jaffer Abdallah
Namutale William
Amos Kankunda
Kajoina Amooti Margarate
Lino Criel
Okecha Festo
Egesa Charles
Muhanguzi Cuthbert
Muramura Frank
Other Branch Chairpersons
-
National Chairperson
Vice Chairperson
National Treasurer/Director of Finance
Assistant National Treasurer & Chairperson Kampala
Secretary General
Assistant Secretary General
Member
Member
Member
Member & Chairperson Entebbe
Member
Baluku Geofrey
Oburu
Renzaho Robert
Onyait Paul
-
Chairperson Malaba
Chairperson Busia
Chairperson Katuna
Chair person Mutukula
BANKERS
Standard Chartered Bank of Uganda Limited
Speke Road
Po box 7111
Kampala
AUDITOR
Gemaco & Associates
Certified Public Accountants
Bwetwajja Building, 1st Floor, plot 232/226
UMA Showground Lugogo
P.O. Box 29864, Kampala.
.
3
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
NATIONAL EXECUTIVE COMMITTEE MEMBERS’ REPORT
2.0
The National executive committee members are pleased to submit their report together with the audited
financial statements for the year ended 31 January, 2010.
Principal activities
The principle activity of UCIFA is regulation and control of member practices. The association is the mouth
piece for the members’ relationship with Uganda Revenues Authority (Government) and other stake holders
Results
The Association’s operating financial results for the year ended were as follows:
2010
Ushs
Particulars
Income
45,955,000
Expenditure
21,316,500
SURPLUS
24,638,500
Detailed income statement is available on page 7 of this report
During the year 2009/2010, the Association launched a website http://ucifa.com. The website is intended to be
an information tool to reach out all the members of the Association. It is intended provide news and current
developments in the clearing & Forwarding industry. However, the website is still under construction.
AUDITORS
Gemaco & Associates, Certified Public Accountants were appointed to audit the financial records of the
association, they are willing to continue in office if reappointed.
4
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
3.0
EXECUTIVE MEMBERS’S ASSERTIONS ON THE FINANCIAL STATEMENTS
The National executive committee members of Uganda Clearing Industry & Forwarding Association
are required to prepare financial statements for each financial year that give a true and fair view of the
state of affairs of the association as at the end of the year and of its income and expenditure statement.
The National executive committee members of Uganda Clearing Industry & Forwarding Association
are responsible for ensuring that contributions from members are utilized for the purpose of the
association. The National executive committee members are responsible for ensuring that the
association keeps proper accounting records that disclose, with reasonable accuracy, the financial
position of the association. The National executive committee members of Uganda Clearing Industry
& Forwarding Association are also responsible for safeguarding the assets of the association.
The National executive committee members accept responsibility for the preparation of financial
reports, which were prepared using appropriate accounting policies and estimates in conformity with
the existing operational guidelines.
The National executive committee members are of the opinion that all the financial statements up to
the year ended 31st January 2010 give a true and fair view of the state of financial affairs of the
Association. The Executive members further accept responsibility for the maintenance of accounting
records that may be relied upon in the preparation of financial statements, as well as adequate systems
of internal controls.
Nothing has come to the attention of Uganda Clearing Industry & Forwarding Association executive
members to indicate that UCIFA will not remain a going concern for at least twelve months from the
date of this statement.
This assertion is certified by the Executive members of Uganda Clearing Industry & Forwarding
Association on
………………………… and signed on its behalf by:
5
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
4.0
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF UCIFA
We have audited the financial statements of Uganda Clearing Industry & Forwarding Association
(UCIFA) for the year ended 31st January 2010. We obtained all the information and explanations we
considered necessary for our audit.
Executive Committee’s responsibility for the financial statements
The Executive committee of Uganda Clearing Industry & Forwarding Association (UCIFA) is
responsible for the preparation of financial statements, which give a true and fair view of the
company’s state of affairs and its operational results. This responsibility includes: designing,
implementing, and maintaining internal control relevant to the preparation and fair presentation of
financial statements that are free from material misstatements, whether due to fraud or error, selecting
and applying appropriate accounting policies, and making accounting estimates that are reasonable.
Auditor’s responsibility for the financial statements
Our responsibility is to express an opinion on these financial statements based on our audit. We
conducted our audit in accordance with International Standards on Auditing and the donor guidelines.
Those standards and guidelines require that we comply with ethical requirements and plan and perform
the audit to obtain reasonable assurance whether the financial statements are free from material
misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor’s judgement,
including the assessment of the risks of material misstatement of the financial statements, whether due
to fraud or error. In making those risk assessments, the auditor considers internal controls relevant to
the entity’s preparation and fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion
of the effectiveness of the entity’s internal control. An audit includes evaluating the appropriateness of
accounting policies used and the reasonableness of accounting estimates made by management, as well
as evaluating the overall presentation of the financial statements. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for our audit opinion
Opinion
In our opinion the financial statements set out on pages 9 to 10 present fairly in all material respects
the financial position of UCIFA as at 31st January 2010. and of the results of its operations for the year
then ended in accordance with the International Financial Reporting Standards and the generally
accepted accounting procedures and practices
Certified Public Accountants
Kampala
6
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
5.0
INCOME & EXPENDITURE STATEMENT
January 31 , 2010
Note
8
INCOME
Ushs
45,955,000
EXPENDITURE
Entertainment ( refreshments etc at meetings)
621,200
Legal Charges
3,040,000
Office expenses
629,500
Airtime
631,200
Printing
1,145,900
Stationery
210,500
Fuel
715,000
Election expenses
174,500
URA training
300,000
Advertising
1,712,600
Rent
1,500,000
Staff allowance
1,614,000
Band expenses
200,000
Publicity & Public address system
530,000
News papers
52,400
Sports Gala expenses
360,000
Transport
39,400
T Shirts ( T shirts to Northern Corridor delegates Inclusive)
4,745,000
Donation
880,000
Subscriptions- Private sector F & UCCI
750,000
Hire of Venue - Super paradise
250,000
Security
100,000
Bank charges
415,000
Audit fee
500,000
Refund to member
200,000
Total expenditure
21,316,500
Surplus C/F
24,638,500
The notes on page 9 form an integral part of this accountability statements
7
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
6.0 STATEMENT OF SURPLUS FUNDS
ACCOUNT
January 31 , 2010
Ush
Current assets
26,046,665
Cash & cash equivalents
Accrued Expenses
(600,000)
Net Current Assets
25,446,665
Represented by:
Surplus b/f
808,165
Surplus for the year ( see income statement)
24,638,500
Total surplus
25,446,665
These financial statements were approved by the National Executive Committee members of Uganda
Clearing Industry & Forwarding Association on …………………and signed on its behalf by:
8
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
7.0 NOTES TO THE FINANCIAL STATEMENTS
ACCOUNTING POLICIES
The following is a summary of the key accounting policies used:
7.1.1
Basis of preparation
The financial statements are prepared in accordance with the generally accepted
Accounting principles & Practices. The financial statements are prepared under the
historical cost convention.
7.1.2
Income
Income represents cash receipts from membership fees, annual member’s subscriptions
fees, donations from sponsors and any other income that may be collected from members
to meet costs of running the association and its programmes. Income does not include
amounts receivable from members whose subscriptions are yet to be cleared.
7.1.3
Income and expenditure recognition
Income and expenditure are recognised on cash basis as modified by the end of the year
adjustments that represent commitments due to be cleared within a period of less than 2
months.
7.1.4
Grants
Grants if any are accounted for when received/on cash basis.
7.1.5
Irrecoverable subscription fees
Irrecoverable subscriptions fees are written off only when reasonable steps to recover
them have been taken without success.
8.0 INCOME
The table below presents total income received in cash during the year.
2010
Ushs
Particulars
Member ship fees
1,800,000
Annual subscriptions
25,750,000
Identity Cards ( Clearing agents passes)
14,950,000
T – Shirts Sales
3,455,000
Total
45,955,000
9
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
9.0 CASH & CASH EQUIVALENTS
These relate to the reconciled cash & bank balances as at 31st January 2010.
Account
January 31, 2010
Petty cash
Unbanked cash
Standard Chartered Bank- UGX
Total
178,500
1,045,000
24,823,165
26,046,665
10.0 ACCRUED EXPENSES
These relate to the accrued expenses during the year
Account
January 31, 2010
Audit fees
Overpaid fees - Classic clearing & Forwarding
Total
500,000
100,000
600,000
11.0 T- SHIRTS ACCOUNTABILITY STATEMENT
This relates to the accountability of T Shirts purchased, sold or issued free charge during the year
to 31st January 2010.
Account
January 31, 2010
T shirt Debtors
Cash Received from sale of T shirts
Free issues
T shirts in stock
Total spent
595,000
3,455,000
390,000
60,000
4,500,000
10
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
LIST OF MEMBERS INDICATING AMOUNTS PAID DURING 2009/2010
Name
Subscriptions
Membership
Paid
Paid
1
A&G LOGISTICS LTD
200,000
200,000
2
A.S.UNITED LOGISTICS
200,000
200,000
3
AA TRADERS
200,000
200,000
4
ACE
100,000
100,000
5
AFRIFREIGHT (U) LTD
200,000
200,000
6
AFRITRANS INT.LTD
200,000
200,000
7
AFRO FREIGHT C&F
200,000
200,000
8
AGS FRASER INT REMOVALS
350,000
200,000
9
ALWAYS SHIPPING CO.LTD
200,000
200,000
10
ARTHUR FREIGHT (U) LTD
200,000
200,000
11
ATACO FREIGHT SERVICES
200,000
200,000
12
ATLAS CARGO SYSTEMS
200,000
200,000
13
BBS CARGO LTD
350,000
200,000
14
BLESSED AND DIVINE BUSINESS LTD
200,000
200,000
15
BOARDERLINK AGENCIES
200,000
200,000
16
BOOKRAD LOGISTICS LTD
350,000
200,000
17
BORET INT.LTD
200,000
200,000
18
BRIDGE INVESTMENTS LTD
200,000
200,000
19
BUHINGA C&F
200,000
200,000
20
CAAP (U) LTD
350,000
200,000
21
CARE AGENCIES
200,000
200,000
22
CARE FREIGHT SERVICES LTD
200,000
200,000
23
CARGO SUPPLIES
200,000
200,000
24
CARGO TRUST
200,000
200,000
25
CLASSIC C&F
200,000
200,000
26
CLEAR AGENCIES
200,000
200,000
11
150,000
150,000
150,000
150,000
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
27
COIN LIMITED
200,000
200,000
28
CONBERT LTD
200,000
200,000
29
CORDIA FORWARDERS
100,000
100,000
30
CRESTED CARGO
200,000
200,000
31
CROSS BORDER INVESTMENTS LTD
200,000
200,000
32
DELTA FORWARDERS LTD
200,000
200,000
33
DEMA FREIGHT
200,000
200,000
34
DENMA ENTERPRISES LTD
200,000
200,000
35
DROP CARGO SERVICES LTD
200,000
200,000
36
EAGLE LOGISTICS
200,000
200,000
37
EFFECTIVE SERVICES
100,000
100,000
38
EMASA UGANDA LTD
200,000
200,000
39
EMPEX C&F
200,000
200,000
40
EPITOME
200,000
200,000
41
EXCEL FORWARDERS
200,000
200,000
42
EXECUTIVE CARGO LTD
200,000
200,000
43
EXPRESS MOVERS (U) LTD
200,000
200,000
44
FLINTLINKS INT.LTD
200,000
200,000
45
FLONA INVESTMENTS
200,000
200,000
46
FLYWAYS INT'L FORWARDERS
200,000
200,000
47
FREEWAYS TRADE LINKS
200,000
200,000
48
200,000
200,000
49
FREIGHT LOGISTIC SYSTEM LTD
FRONT INVESTMENTS
INTERNATIONAL LTD
200,000
200,000
50
GACH SERVICES LTD
200,000
200,000
51
GLOBAL FORWARDERS
200,000
200,000
52
GO AFRICA C&FLTD
200,000
200,000
53
GODMAG LOGISTICS (U)LTD
100,000
100,000
54
GREENFIELDS (U)LTD
200,000
200,000
55
HARAKA C& F
200,000
200,000
12
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
56
HARAKA INTERNATIONAL LTD
100,000
100,000
57
HARDLINE INTERNATIONAL
200,000
200,000
58
HOSCA AGENCIES
350,000
200,000
59
IKI IKI GLOBAL
200,000
200,000
60
INTERGLOBE FORWARDERS
200,000
200,000
61
INTERPLANET CARGO FRT
200,000
200,000
62
INTERVISION
200,000
200,000
63
J&P GENERAL AGENCIES LTD
200,000
200,000
64
JAFFER FREIGHTERS LTD
200,000
200,000
65
JETSPEED AIRFREIGHTER
200,000
200,000
66
200,000
200,000
67
JINKA ENTERPRISES LTD
JOFRA INTERNATIONAL
FORWARDERS
200,000
200,000
68
JUPITER FORWARDERS
200,000
200,000
69
JUSSAC (U) LTD
200,000
200,000
70
200,000
200,000
71
K.K FREIGHTERS
KAMWE CARGO & CLEARING
SERVICES CO.LTD
200,000
200,000
72
KOB FREIGHT LTD
200,000
200,000
73
LATIM HOLDINGS LTD
200,000
200,000
74
LIMOTRANS (U) LTD
350,000
200,000
75
LINE AGENCY
200,000
200,000
76
LION CONSULT
200,000
200,000
77
MAINA SPEEDY(U)LTD
200,000
200,000
78
MANDE COMPUTECH LTD
200,000
200,000
79
MARITIME SHIPPING CO.
200,000
200,000
80
MARK FORWARDERS
200,000
200,000
81
MASTER INTERN.LTD
200,000
200,000
82
MEGHA INDUSTRIES LTD
200,000
200,000
83
MIKWEN FARM SERVISES
200,000
200,000
84
MUNKUSA C& F LTD
150,000
-
13
150,000
150,000
150,000
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
85
NAGOYA COMPANY LTD
200,000
200,000
86
NATIONAL LOGISTICS
200,000
200,000
87
NORDIC
200,000
200,000
88
NOVELTY AGENCIES LTD
200,000
200,000
89
OMNI CARGO LTD
200,000
200,000
90
ORIENTAL FORWARDERS
200,000
200,000
91
OVERSEAS C&F
200,000
200,000
92
PALUKU AGENCIES
200,000
200,000
93
PANAFRIQUE
200,000
200,000
94
PANOK INT.(U)LTD
200,000
200,000
95
PANTEK AGENCIES (U) LTD
200,000
200,000
96
PANTHER LOGISTICS
200,000
200,000
97
PARM AGENCIES LTD
350,000
200,000
98
PENNY INTERNATIONAL
200,000
200,000
99
PORT CONTROL LTD
200,000
200,000
100
PRIME GLOBAL LINK LTD
150,000
150,000
101
PUYANG HOLDINGS
100,000
100,000
102
RAKA AGENCIES LTD
200,000
200,000
103
RAPID KATE SERVICES
200,000
200,000
104
RELIABLE SERVICES LTD
200,000
200,000
105
REMCO (U) LTD
200,000
200,000
106
ROCO CONSTRUCTION
200,000
200,000
107
ROYAL AGENCIES
200,000
200,000
108
ROYAL TRUST (U) LTD
200,000
200,000
109
RWENZORI COMMODITIES LTD
350,000
200,000
110
SAPPHIRE LTD
200,000
200,000
111
SEACON MASTERS LTD
200,000
200,000
112
SHUMUK INVESTMENT LTD
200,000
200,000
113
SPENOLD CARGO LTD
200,000
200,000
14
150,000
150,000
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
114
ST MARK C&F
200,000
200,000
115
STAMENT FORWARDERS
200,000
200,000
116
STAR CARGO LTD
200,000
200,000
117
SWIFT GLOBAL
350,000
200,000
118
SYCOM UGANDA LTD
200,000
200,000
119
TAURUS INVESTMENT LTD
200,000
200,000
120
TETRA CARGO (U) LTD
200,000
200,000
121
THE GIANTS CARGO INT.LTD
350,000
200,000
122
THREE ONE-ONE FRT FWDERS
200,000
200,000
123
THREE WAYSSHIPPING CO.
200,000
200,000
124
TOGETHER AS ONE
200,000
200,000
125
TOP CONSULT LTD
200,000
200,000
126
TORORO CEMENT LTD
200,000
200,000
127
TRADE AND TAX CONSULTANTS LTD
200,000
200,000
128
TRANSCARGO FREIGHTERS LTD
200,000
200,000
129
TROPIC INTERLINES LTD
200,000
200,000
130
W&S INTERNATIONAL
200,000
200,000
131
WAMCO HOLDINGS C&F
200,000
200,000
132
WEST LANDS C&F
200,000
200,000
133
WORLD WIDE LOGISTICS LTD
350,000
200,000
150,000
27,550,000
25,750,000
1,800,000
15
150,000
150,000
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
LIST OF SUBSCRIPTION DEBTORS
1
2
Name
ACE
Amount Due
100,000
200,000
3
CARGOLAND INTERNATIONAL
LIMITED
CORDIA FORWARDERS
4
COST FREIGHT INTERNATIONAL
200,000
5
EFFECTIVE SERVICES
100,000
6
FREIGHT I NN TIME U LIMITED
350,000
7
FRENO FREIGHTERS U LIMITED
200,000
8
FRONTLINE FREIGHTERS
200,000
9
GODMAG LOGISTICS (U)LTD
100,000
10
HARAKA INTERNATIONAL LTD
100,000
11
INTER - CARGO AGENCIES LIMITED
200,000
12
JJ & B FREIGHTERS LIMITED
200,000
13
KING DAVIND INVESTMENTS LIMITED
200,000
14
KOK INTERNATIONAL LIMITED
200,000
15
200,000
16
Ms SKYLIGHT INTERNATIONAL
LIMITED
MULTIPLE FORWARDERS U LIMITED
17
MUNKUSA C& F LTD
200,000
18
NABCO REMA U LIMITED
350,000
19
NELCO FORWARDERS
200,000
20
NULNIL ENTERPRISES
200,000
21
OSAKA TRADING
200,000
22
PRIME GLOBAL LINK LTD
100,000
23
PUYANG HOLDINGS
100,000
24
SIB GENERAL SUPPLIES U LIMITED
200,000
25
SPEEDLINE CARGO LTD
200,000
26
WAFCOU
200,000
100,000
200,000
Total
4,800,000
16
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
T - SHIRT DEBTORS
Ush
TRADE & TAX
30,000
INTRACARGO INT.(HILLARY)
15,000
MICHEAL(JAFFER FREIGHTERS)
15,000
REHEMA(ROYAL TRUST)
10,000
JUPITER
30,000
WILLIAM
60,000
JINKA(WILLIAM)
30,000
JUSSAC
360,000
EXECUTIVE CARGO
45,000
Total
595,000
17
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
LIST COMPANIES WHO PAID FOR PASSES/ID CARDS
NAME
NO of AGENTS
AMOUNT PAID
Ush
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
A A Traders
3
45,000
Ataco Freight Services
11
165,000
Airfreight (U) Ltd
4
60,000
A S United Investments Ltd
4
60,000
A & G Logistics Ltd
5
75,000
Always Shipping Services Ltd
9
135,000
Atlas Cargo Systems
23
345,000
Afritrans International (U) Ltd
8
120,000
AGS Freser International (U) Ltd
3
45,000
Boret International Ltd
7
105,000
Bookrad Logistics International Ltd
6
90,000
Buhinga Clearing & Forwarding Ltd
8
120,000
Bridge Investments Ltd
3
45,000
Blessed And Devine Business Ltd
6
90,000
Classic Clearing & Forwarding Co. ltd
11
165,000
Cordia Forwarders (U) Ltd
13
195,000
Conbert Limited
10
150,000
Cargoland International Ltd
6
90,000
Cargo Supplies Ltd
4
60,000
Cargo Trust U Ltd
9
135,000
Care Agencies Ltd
7
105,000
Care freight Services (U) Ltd
11
165,000
Crested Cargo International Ltd
2
30,000
Clear Agencies Ltd
7
105,000
Crown Interliners
10
150,000
Cross Border Investments Ltd
6
90,000
Coin Limited
8
120,000
Dema Freight (U) Ltd
11
165,000
Denma Enterprises Ltd
5
75,000
Drop Cargo Services Ltd
8
120,000
Delta Forwarders Ltd
8
120,000
Empex Clearing & Forwarding
6
90,000
Emasa (U) Ltd
12
180,000
Express Movers Ltd
10
150,000
Executive Cargo Ltd
5
75,000
Excel Forwarders Ltd
8
120,000
Subtotal c/f
277
18
4,155,000
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
Sub Total b/f
277
4,155,000
Eagle Logistics Solutions Ltd
12
180,000
Epitome Enterprises Ltd
8
120,000
Freight Logistics System Ltd
5
75,000
Front Link Investments Ltd
7
105,000
Freeways Trade Links Ltd
4
60,000
Freight In Time (U) Ltd
4
60,000
Frontline Freighters Ltd
8
120,000
Freno Freighters (U) Ltd
2
30,000
Front Investments (U) Ltd
8
120,000
Flona Investments Ltd
4
60,000
Flitlinks International Limited
11
165,000
Flyways Interforwarders Ltd
3
45,000
Freight In Time Ltd
4
60,000
Global Forwarders & Clearing Ltd
7
105,000
Gach Services Ltd
6
90,000
Go Africa Clearing & Forwarding Ltd
3
45,000
Godmag Logistics Ltd
2
30,000
Hosca Agencies (U) Ltd
11
165,000
Hardline International Limited
8
120,000
Haraka C & F Co. Limited
16
240,000
Intervision (U) Limited
7
105,000
Inter- Globe Forwarders Ltd
2
30,000
Iki – Iki Agencies Ltd
11
165,000
Interplanet Cargo Freighter Ltd
10
150,000
I P Logictics Ltd
2
30,000
Inter- Cargo Agencies (U) Ltd
8
120,000
Inter - Afrique Agencies U Ltd
10
150,000
Jaffer Freighters Ltd
6
90,000
Jinka Enterprises Ltd
34
510,000
J J and B Freight Limited
8
120,000
J & P General Agencies Ltd
9
135,000
Jet Speed Air Freighters (U) Ltd
8
120,000
Jofra International Forwarders Ltd
6
90,000
Jussac Uganda Ltd
3
45,000
Jupiter Forwarders (U) Ltd
21
315,000
Kamwe Cargo & Clearing Co. Ltd
12
180,000
Kok Freight International Ltd
1
15,000
Kob Freight Ltd
10
150,000
K K Freight Ltd
5
75,000
Subtotal c/f
583
19
8,745,000
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
Subtotal b/f
583
8,745,000
King David Investments Limited
11
165,000
Latim Holdings Ltd
3
45,000
Limotrans (U) Ltd
5
75,000
Line Agency (U) Ltd
9
135,000
Lion Consult Ltd
3
45,000
Multiple Forwarders (U)Ltd
4
60,000
Malisu Apollo Investments Ltd
3
45,000
Mega Industries Ltd
3
45,000
Master International Limited
10
150,000
Maritime Shipping Co Ltd
6
90,000
Mark Forwarders U Ltd
8
120,000
Mande Computec Ltd
6
90,000
Mikwen Farm Enterprises Ltd
13
195,000
Nelco Forwarders Ltd
13
195,000
Nagoya Company Ltd
2
30,000
National Logistics Co . Ltd
3
45,000
Novelity Agencies Ltd
22
330,000
Nordic Freight Ltd
6
90,000
Nulnil Enterprises Ltd
3
45,000
Oriental Forwarders (U) Ltd
10
150,000
Overseas Clearing & Forwarding Co Ltd
9
135,000
Omni Cargo Services Ltd
6
90,000
Osaka Trading Co. Ltd
13
195,000
Parm Agencies Ltd
6
90,000
Paluku Agencies Ltd
4
60,000
Panafrique Forwarders Ltd
4
60,000
Penny International Limited
18
270,000
Puyang Holdings Ltd
5
75,000
Panther Logistics Ltd
5
75,000
Pantek Agencies (U) Limited
8
120,000
Raka Agencies Ltd
6
90,000
Reliable Agencies Ltd
5
75,000
Royal Trust U Limited
12
180,000
Rwenzori Commodities Ltd
2
30,000
Remco Uganda Limited
5
75,000
Royal Agencies (U) Ltd
9
135,000
Three One Freight Forward (U) Ltd
7
105,000
Roko Construction Ltd
Sub total c/f
4
854
20
60,000
12,810,000
Uganda Clearing Industry & Forwarding Association (UCIFA)
Financial report for the year ended
January 31, 2010
_______________________________________________________________________
Sub total b/f
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
854
12,810,000
The Giant Cargo International Ltd
4
60,000
St Mark Clearing & Forw Inter. Co Ld
9
135,000
Spenold Cargo Ltd
13
190,000
Super cargo Investments Ltd
3
45,000
Saphire Ltd
7
105,000
Skylight International Ltd
4
60,000
Safi (U) Ltd
3
45,000
Shumuk Investments Limited
2
30,000
Stenko International (U) Ltd
3
45,000
Seacon Masters Ltd
10
150,000
Together as One Enterprises
18
270,000
Tororo Cement ltd
2
30,000
Top Consult Ltd
15
225,000
Trade & Tax Consultants Limited
2
30,000
Transcargo Freighters Ltd
5
75,000
Tropical C & F Co Ltd
9
135,000
Tropic Interliners Limited
2
30,000
Tetra Cargo (U) Ltd
4
60,000
Taurus Investments Ltd
6
90,000
Wamco Holding C & F Ltd
7
105,000
Westland C & F Ltd
4
60,000
W & S International TradeLink (U) Ltd
11
165,000
GRAND TOTAL
997
14,950,000
Note:
Spenold paid less by Ushs 5,000.
The total amount that was expected to be received is Ush 14,955,000.
21