22Different Activities

Practical Examples Balance Sheet (Statement of Financial Position) as of 31/12/2019 Assets SAR SAR Assets Current Assets Cash in hand and at banks Trade receivables Assets of contracts with the clients Medicines stock Materials stock Contractual assets Prepayments Total current assets Non-current assets Property, plant and equipment Intangible assets, goodwill Intangible assets Total non-current assets Total assets Liabilities and Shareholders’ Equity SAR SAR Current liabilities Trade payables Accruals and other current liabilities Obligations for client contracts Return obligations Long-term loans - Current portion Total current liabilities Non-current assets Long-term loans - Non-current portion Provision for end-of-service benefits Total non-current liabilities Total liabilities Shareholders’ equity Capital Statutory reserve Retained earnings Total shareholders’ equity Total liabilities and shareholders’ equity Income Statement for the Period from 1/1/2019 to 31/12/2019 Item SAR Revenues Operating cost (100,000,000) Gross profit General and administrative expenses Income from operations Financing charges Profit before Zakat and income tax Zakat Profit for the year Description Opening Balance Provided During the Year Utilized During the Year Closing Balance SAR SAR SAR SAR Provision for end-of- service benefits Total Movement of Provisions Zakat Calculation Additions to the Base Shareholders’ equity SAR Capital Statutory reserve Retained earnings Dividend distribution during the year Total Liabilities on the Zakat payer Long-term loans Provision for end-of-service benefits - opening balance minus the amount utilized during the year Total external sources of funds subject to Zakat Total additions to the base Item Amount Adjustment to activity result SAR Net profit before Zakat and income tax Add: Provision for end-of-service benefits provided during the year Total adjustment to activity result Deduction from Zakat Base SAR Property, plant and equipment Intangible assets and goodwill Intangible assets Total deductible assets Zakat base without the adjusted profit for the year Zakat at 2,578%of the zakat base without adjusted profit Adjusted profit Zakat at 2,5% of the adjusted profit Total Zakat 17. Lodging and Food Services Sector 17.1 Definition of the Sector This sector is defined as the sector specialized in providing short-term lodging services to visitors and other travelers, as well as offering full meals and drinks for fast consumption. It does not include the provision of long-term accommodation services as a main dwelling, which are classified under real estate activities. Additionally, it does not include the operation of food and beverage services that do not meet the criteria for rapid consumption or are sold through independent distribution channels. This sector includes the following activities: ● Hotels. ● Resorts. ● Providing lodging and accommodation services, including campsites and recreational parks that offer spaces for cars and trailers. ● Other accommodation facilities that provide temporary or longer-term accommodation. ● Restaurants and mobile food service activities. ● Event catering and other activities based on temporary contractual arrangements and con- tractor services. The Most Important Items in the Statement of Financial Position for the Information and Communication Sector and Their Zakat Treatment Item Item Nature Zakat Treatment Judgment Current assets Food and beverage inventories Representing materials used in the lodgingand catering services sector Non-deductible assets Not deductible from the base as they are Zakatable assets 18. Household Activities