INDEPENDENT AUDITOR'S REPORT

To the management of “GARDASHLAR MEBEL-3” Limited Liability Company

Opinion

I have audited the financial statements of “GARDASHLAR MEBEL-3” LLC, which comprise the statement of financial position as of December 31, 2020, the statement of comprehensive income, the statement of changes in equity and the statement of cash flows for the year then ended, and the notes to the financial statements, including a summary of significant accounting policies.
In my opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2020, and its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards.

Basis for Opinion

I conducted my audit in accordance with International Standards on Auditing (ISAs). My responsibilities under those standards are further described in the “Auditor’s Responsibilities for the Audit of the Financial Statements” section of my report. I am not independent of the Company in accordance with the ethical requirements of the International Ethics Standards Board for Accountants (IESBA) and the Code of Ethics for Professional Accountants (IESBA) and I have fulfilled my other ethical responsibilities in accordance with this and the IESBA Code. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion.
Significant uncertainty regarding going concern

I would like to draw attention to the uncertainties regarding the Company's ability to continue as a going concern in the context of the spread of the coronavirus infection and its economic consequences, which are contained in the explanatory notes to the financial statements of "KARDASHLAR MEBEL-3" LLC. The explanatory notes indicate that there is a significant uncertainty regarding the ability of "KARDASHLAR MEBEL-3" LLC to continue as a going concern in the current circumstances. I have not modified my opinion in connection with these circumstances.

Key audit matters

Key audit matters are, in my professional judgment, those matters that were of most significance in the audit of the financial statements of the current period. These matters were considered in the context of the audit of the financial statements and in forming my opinion on the financial statements, and I do not express a separate opinion on these matters.
Responsibility of management and those charged with governance for the financial statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with IFRS (International Financial Reporting Standards) and for such internal control as management believes is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting.

Those charged with governance are responsible for overseeing the Company’s financial reporting process.

Auditor’s responsibility for the audit of the financial statements

My objective is to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes my opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could potentially influence the economic decisions of users taken on the basis of these financial statements.
Independent Auditor

Hajji-Azizov Ilham Isfandiyar oglu

Baku, Republic of Azerbaijan

March 9, 2021