ALPHA TRADING

FINANCE ANALYST
PERIOD TO 2026-08-13 · AEDLIVE FROM THE LEDGERREAL FIGURES · NAMES CHANGED

REVENUE

698,325

period to date50.5% GM

GROSS PROFIT

352,640

of revenue50.5%

NET PROFIT

351,041

of revenue50.3%

CASH

950,753

of total assets14.0%

RECEIVABLES

4,699,956

253 open items86.2% past due

PAYABLES

2,045,885

34 suppliers99.6% past due

INCOME STATEMENT

PERIOD TO 2026-08-13 · AED

698,325Revenue(345,685)Cost of sales352,640Gross profit(1,599)Operatingexpenses351,041Net profit
Revenue698,325100%
Cost of sales(345,685)49.5%
Gross profit352,64050.5%
Operating expenses(1,599)0.2%
Net profit351,04150.3%

Overheads of 1,599 are 0.2% of revenue, and 1,249 of that is a stock-closing entry posted to an admin account rather than stock variation. The books hold no salary, rent, utility or depreciation account, so the margin below is not a trading margin.

STOCK WITH NO MOVEMENT

UNTOUCHED SINCE THE OPENING COUNT ON 2026-06-30

AT COST

165,596

Silicone seal 6.4 mm roll · 88,626Silicone seal 6.4 mm roll88,626Sealant PT-350 · 39,406Sealant PT-35039,406Sealant PT-361 · 8,3738,373Sealant PT-365 (25 kg bag) · 8,0468,046Alpha M-870 silicone · 7,4377,437Sealant 9022 · 4,900Sealant 402 · 4,4074,407Sealant PT-380 · 1,968Sealant 622P · 1,065Plastic separator · 588
Silicone seal 6.4 mm roll88,626Sealant PT-35039,406Sealant PT-3618,373Sealant PT-365 (25 kg bag)8,046Alpha M-870 silicone7,437Sealant 90224,900Sealant 4024,407Sealant PT-3801,968Sealant 622P1,065Plastic separator588

12 lines, 17.1% of the 971,174 stock value.

BALANCE SHEET

AS AT 2026-08-13 · AED 6,788,195 EACH SIDE

Cash950,753Receivables4,699,956Other current1,067,858Prepayments65,225Fixed assets4,403Payables2,045,885Other current652,989Equity3,738,280Retained earnings351,041ASSETSLIABILITIES + EQUITYCURRENT2.51xQUICK2.09xLIAB / EQ0.66xNWC4.08m

Liabilities to equity of 0.66x is trade payables and provisions; there are no borrowings.

COLLECTION AND THE CASH CYCLE

TRADING SINCE 2026-06-30 · 44 DAYS

25

DAYS TO COLLECT, ON TRADING SINCE THE CUT-OVER

DSO TRADING

25

DSO BOOK

296

DIO BOOK

124

DPO BOOK

260

SPLITTING THE BOOK AT THE CUT-OVER

Receivables brought in on 2026-06-304,305,835159 inv
Receivables from trading since394,12168 inv
Payables brought in on 2026-06-302,192,831opening
Purchases since25,087TOO THIN

Only the collection figure is a trading measure. Stock and payables are still 2,192,831 of opening balances against 25,087 of purchases since, so a full cash cycle is not yet meaningful. The receivable split adds back to the 4,699,956.

RECEIVABLES AGEING

AED 4,699,956 · 183 CUSTOMERS WITH A BALANCE · 16 IN CREDIT

Not due649,6181–30 d4,242,64131–60 d−192,303
61–90 d91–120 d120+ d

TOP 5 CUSTOMERS

13.3%10.7%8.7%6.3%5.9%45.0%
SHARECUMULATIVE
Falcon Ridge Industries LLC625,71513.3%
Oasis Karim Trading Co. LLC502,62010.7%
National Crescent Industry LLC408,5638.7%
Summit Precast Establishment LLC297,6756.3%
Delta Technical Products (PTY) LTD279,2265.9%
Top 52,113,80045.0%

PAYMENT BEHAVIOUR

EACH DOT IS A CUSTOMER · 167 WITH A BALANCE

BOOK AVERAGE

25 DAYS LATE

626k469k313k156k0d15d30d45d30 days
LARGESTMIDSMALLRIGHT AND HIGH = BIG AND SLOW

CONTROL TESTS

RUN OVER ALL 314 POSTED ENTRIES

Entries posted 15+ days late · 24 / 104 · FLAGInvoices matched to a receipt · 0 / 227 · FLAGSame customer, same amount · 5 pairs · CHECKPosted outside 07:00–19:00 · 0 · OKPosted at a weekend · 3 · OKManual journals · 2.9% · OKRound-thousand amounts · 2 · OKGaps in invoice numbering · 0 · OKBenford first-digit test · χ² 6.5 · PASS
FLAGCHECKOKPASS
Entries posted 15+ days late24 / 104FLAG
Invoices matched to a receipt0 / 227FLAG
Same customer, same amount5 pairsCHECK
Posted outside 07:00–19:000OK
Posted at a weekend3OK
Manual journals2.9%OK
Round-thousand amounts2OK
Gaps in invoice numbering0OK
Benford first-digit testχ² 6.5PASS

335,556 of customer money has reached the bank across 9 receipts from 7 customers and has never been matched to an invoice. Until it is, the ageing shows those invoices as fully outstanding.

13-WEEK CASH FORECAST

FROM ACTUAL DUE DATES · OPENING CASH AED 950,753

WEEK 1 BACKLOG

4.05m

W1W2W3W4W5W6W7W8W9W10W11W12W13238k0−238k4.1m2.0m
DUE INDUE OUTWEEK 1 IS CAPPED ON THE CHART — IT CARRIES EVERY RECEIPT ALREADY PAST DUE

Weeks 2 to 13 carry little. Almost every receivable is already past its due date, so this reads as a backlog rather than a forecast.

PAYABLES AGEING

AED 2,045,885 · 34 SUPPLIERS · 15 IN DEBIT

Not due8,5181–30 d2,040,87831–60 d−3,510
61–90 d91–120 d120+ d

LARGEST SUPPLIERS

Alpha Co., Ltd1,010,16049.4%Meridian Chemicals Co., Ltd632,44930.9%Corvin Materials Co., Ltd436,11021.3%Harlow Import & Export Co., Ltd205,47610.0%Northgate Industrial Group Co., Ltd146,3827.2%

99.6% of what Alpha owes is already past due. Ties to the balance sheet.

BENFORD FIRST-DIGIT TEST

OBSERVED AGAINST EXPECTED · 286 AMOUNTS

χ²

6.5

28.4119.2214.638.747.757.766.373.883.6930.117.612.59.77.96.75.85.14.6
OBSERVEDBENFORD EXPECTED

6.5 against a 15.5 threshold. The amounts fall where naturally occurring figures should.

WHEN ENTRIES ARE POSTED

DAY AGAINST HOUR, DUBAI TIME · RED OUTLINE = OUTSIDE HOURS

0 entries fall outside 07:00–19:00 Asia/Dubai and 3 at a weekend. Excluding the go-live import, the worst gap between an entry date and the day it was keyed is 42 days.

ALPHA TRADING · FINANCE ANALYST · REAL ENGAGEMENT FIGURES — COMPANY AND COUNTERPARTY NAMES CHANGEDANALYTICKS BY CALX · LIVE FROM ODOO