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IDEAL RICE INDUSTRIES (PVT) LIMITED

BALANCE SHEET
AS AT JUNE 30, 2014

EQUITY AND LIABILTIES


Note

2014
Rupees

2013
Rupees

SHARE CAPITAL AND RESERVES

ASSETS
Note

2014
Rupees

2013
Rupees

Property, plant and equipment

11

298,122,522

275,486,910

Long Term Deposits

12

2,877,041

2,877,041

13
14
15
16
17
18
19
20

16,426,538
549,836,393
88,342,018
8,055,389
487,898
110,630
10,256,246
33,589,254
707,104,366

985,468,317

NON CURRENT ASSETS

Authorised Capital
30,000,000 (2013: 30,000,000) ordinary
shares of Rs. 10/- each

Issued, subscribed and paid up capital


20,000,000 (2013: 20,000,000) ordinary
shares of Rs.10/- each
Unappropriated (loss) / profit

300,000,000

300,000,000

200,000,000

200,000,000

(9,659,280)
190,340,720

5,644,873
205,644,873

478,771,232

308,752,905

NON CURRENT LIABILITIES


Long term financing

CURRENT LIABILITIES
Trade and other payables
Short term borrowings
Accrued mark-up
Current portion of non curren liabilities

CONTINGENCIES & COMMITMENTS

CURRENT ASSETS
6
7
8
9

10

34,785,753
117,596,983
6,574,277
7,281,676

19,585,906
424,489,364
12,280,253
14,715,016

Stores and spares


Stock in trade
Trade debts
Loans and advances
Short term prepayments
Other receivables
Tax refunds due from government
Cash and bank balances

166,238,689

471,070,539

22,426,905
463,340,780
9,917,357
15,931,443
145,946
72,730
10,119,547
12,396,370
534,351,078

835,350,641

985,468,317

835,350,641

The annexed notes form an integral part of these financial statements.

CHIEF EXECUTIVE

DIRECTOR

IDEAL RICE INDUSTRIES (PVT) LIMITED


PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED JUNE 30, 2014

Note

2014
Rupees

2013
Rupees

Sales- net

21

658,710,524

684,696,115

Cost of sales

22

608,434,274

621,723,197

50,276,250

62,972,918

Gross profit

Operating expenses
Distribution costs

23

7,614,154

23,947,720

Administrative expenses

24

26,993,803

23,054,946

34,607,957

47,002,666

15,668,293

15,970,252

25

10,019,783

3,255,424

26

40,992,129

44,596,306

100

7,000

40,992,229

44,603,306

(15,304,153)

(25,377,630)

Operating profit
Other income
Other charges
Finance cost
Workers' profit participation fund
Other expenses

27

Other income
Loss before taxation
Taxation

28

Loss for the year

2,461,321
(15,304,153)

The annexed notes form an integral part of these financial statements.

CHIEF EXECUTIVE

DIRECTOR

(27,838,951)

IDEAL RICE INDUSTRIES (PVT) LIMITED


STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED JUNE 30, 2014

Net loss for the year


Other comprehensive income form the year
Gross loss

2014
Rupees

2013
Rupees

(15,304,153)

(27,838,951)

(15,304,153)

The annexed notes form an integral part of these financial statements.

CHIEF EXECUTIVE

DIRECTOR

(27,838,951)

IDEAL RICE INDUSTRIES (PVT) LIMITED


CASH FLOW STATEMENT
FOR THE YEAR ENDED JUNE 30 , 2014
2014
RUPEES

2013
RUPEES

(15,304,153)

(25,377,630)

17,628,548
5,417
40,992,129
(137,988)
58,488,106
43,183,953

13,413,244
44,596,306
(21,200)
57,988,350
32,610,720

(6,000,368)
86,495,613
78,424,660
(7,876,054)
341,952
37,900
3,950,927

(7,781,937)
(282,990,888)
(42,636,118)
(7,261,690)
(362,275)
135,770
(1,549,242)

15,291,300
170,665,930
213,849,883
(3,849,634)
(46,698,105)
(56,045)
(50,603,784)
163,246,099

16,039,716
(326,406,664)
(293,795,944)
(5,482,584)
(38,627,977)
(1,799,193)
(45,909,754)
(339,705,698)

B- CASH FLOWS FROM INVESTING ACTIVITIES


Additions in property, plant & equipment
Proceeds from sale of operating assets
Long term deposits
Net cash used in investing activities

(41,182,245)
1,050,656
(40,131,589)

(37,262,207)
310,000
(4,500)
(36,956,707)

C- CASH FLOWS FROM FINANCING ACTIVITIES


Ordinary shares issued
Long term financing
short term borrowings
Net cash (used in) / generated from financing activities

162,584,987
(306,892,381)
(144,307,394)

130,500,000
(30,038,369)
299,988,352
400,449,983

(21,192,884)
33,589,254
12,396,370

23,787,578
9,801,676
33,589,254

A- CASH FLOWS FROM OPERATING ACTIVITIES


Loss before taxation
Adjustment of non cash / non operating items
Depreciation
Ammortization
Mark- up
Gain on sale of fixed assets
Operating (loss) / profit before working capital changes
Changes in working capital
Increase/ (decrease) in current assets
Stores and spares
Stock in trade
Trade debts
Loans and advances
Short term prepayments
Other receivables
Tax refunds due from government
Increase/ (Decrease) in current liabilities
Trade and other payables
Cash generated from / (used in) operations
Taxes paid
Finance cost paid
WPPF paid
Net cash generated from / (used in) operating activities

Net (decrease) / increase in cash and cash equivalents (A+B+C)


Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year

The annexed notes form an integral part of these financial statements.

CHIEF EXECUTIVE

DIRECTOR

IDEAL RICE INDUSTRIES (PVT) LIMITED


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED JUNE 30, 2014

PARTICULARS

BALANCE AS AT JULY 01, 2012


Ordinary shares of Rs. 10/- each issued during
the year fully paid in cash
Net loss for the year
BALANCES AS ON JUNE 30, 2013

Net loss for the year

BALANCES AS ON JUNE 30, 2014

SHARE
CAPITAL

RESERVES

RUPEES

RUPEES

TOTAL
REVENUE

69,500,000

130,500,000
200,000,000

200,000,000

RUPEES

33,483,824

102,983,824

130,500,000

(27,838,951)

(27,838,951)

5,644,873

205,644,873

(15,304,153)

(15,304,153)

(9,659,280)

190,340,720

The annexed notes form an integral part of these financial statements.

CHIEF EXECUTIVE

DIRECTOR

IDEAL RICE INDUSTRIES (PVT) LTD.


NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED JUNE 30, 2014
1. STATUS AND ACTIVITIES
Ideal Rice Industries (Private) Limited was incorporated in Pakistan on July 13, 2004 under the Companies
Ordinance, 1984. "the registered office of the Company is situated at 47/E Main Gulberg, Salman Ahmad Road,
Lahore and the project is located at 38 K.M, Faisalabad Road, Shahkot The Company is engaged in husking,
processing and sale/export of rice.
2. BASIS OF PREPARATION
2.1. Statement of Compliance
These financial statements have been prepared in accordance with the approved accounting standards as applicable
in Pakistan. Approved accounting standards comprise of such International Financial Reporting Standards (IFRSs)
issued by the International Accounting Standards Board as are notified under the Companies Ordinance, 1984,
provisions of and directives issued under the Companies Ordinance, 1984. In case requirements differ, the
provisions or directives of the Companies Ordinance, 1984 shall prevail.
2.2. Standards, interpretations and amendments to published approved accounting standards adopted during
There were certain new standards, amendments to the approved accounting standards and new interpretations issued
by the International Financial Reporting Interpretations Committee (IFRIC), which became effective during the year
but are considered not to be relevant or have any significant effect on the company's operations and are, therefore,
nor disclosed in these financial statements.
2.3. Standards, interpretations and amendments to approved accounting standards that are issued but not yet
effective.
There were certain new standards, amendments to the approved accounting standards and new interpretations that
are mandatory for accounting periods beginning on or after January 1, 2013, but , except for the amendments to IAS
19 'Employee Benefits", are considered nor to be relevant or have any significant effect on the company's operations,
other than presentation / disclosures, and are, therefore, not disclosed in these
The amendments to IAS 19 require immediate recognition of actuarial gains / losses in other comprehensive income
in the period of initial recognition. This change will remove the corridor method and eliminate the ability for entities
to recognize all changes in the defined benefit obligation and in plan assets in profit or loss, which currently is
allowed under IAS 19.
IFRS-12 Disclosure of Interest in Other Entities
IFRS-13 Fair Value Measurement
IFRIC-21 Levies

January 1, 2013
January 1, 2013
January 1, 2014

3. BASIS OF MEASUREMENT
These financial statements have been prepared under the historical cost convention except as otherwise stated in
respective policies and notes given hereunder.

Significant accounting estimates and judgments


The preparation of financial statements in conformity with the Accounting and Financial Reporting Standards for
Medium-Sized Entities issued by the Institute of Chartered Accountants of Pakistan require management to make
judgments, estimates and assumptions that effect the application of policies and reported amounts of assets and
liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and
various other factors that are believed to be reasonable under the circumstances, the results of which form the basis
of making the judgments about carrying values of assets and liabilities that are not readily apparent from other
sources. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting, estimates are
recognized in the period in which estimates are revised. Significant areas requiring the use of management estimates
in these financial statements relate to the useful life of depreciable assets and provision for doubtful receivables.
However, assumptions and judgments made by management in the application of accounting policies that have
significant effect on the financial statements are not expected to result in material adjustment to the carrying amounts
of assets and liabilities in the next year.
4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The significant accounting policies adopted in the preparation of these financial statements are set out below. These
policies have been consistently applied to all the years presented, unless otherwise stated.
4.1. Provisions
Provisions are recognized when the entity has a present legal or constructive obligation as a result of past events, and
it is probable that an outflow of resources embodying economic benefit will be required to settle the obligation and a
reliable estimate of the obligation can be made.
4.2. Trade and other payables
Liabilities for trade and other amounts payable are carried at cost which is the fair value of the consideration to be
paid in future for goods and services received whether or not billed to the Company.
4.3. Taxation
Provision for current tax is based on the taxable income for the year determined in accordance with the prevailing
law for taxation of income. The charge for current tax is calculated using prevailing tax rates or tax rates expected to
apply to the profit for the year if enacted. The charge for current tax also includes adjustments, where considered
necessary, to provision for tax made in previous years arising from assessments framed during the year for such
years.
4.4. Property, plant and equipment
Property, plant and equipment, except freehold land and capital work in progress, are stated at cost less accumulated
depreciation and impairment in value, if any. Freehold land and capital work in progress are stated at cost less
accumulated impairment, if any. Depreciation is charged to income applying the reducing balance method at the rates
specified in the property, plant and equipment note. Depreciation on additions during the year is charged from the
month in which an asset is acquired or capitalized, while no depreciation is charged for the month in which the asset
is disposed off. The residual value and useful lives of assets, are reviewed at each financial year and adjusted if
impact on depreciation is significant. Normal repairs and maintenance arc charged to income as and when incurred.
Major renewals and improvements are capitalized.
Gains and losses on disposal of assets are included in current income.
All expenditure connected with specific assets incurred during installation and construction period are carried under
capital work-in-progress.
These are transferred to specific assets as and when these assets are available for use

4.5. Related party transactions and transfer pricing


Transactions with related parties are carried out at arm's length. The prices are determined in accordance with
comparable uncontrolled price method.
4.6. Stores and spares
These are valued at lower of moving average cost and market value, while items considered obsolete are carried at
nil value. Items in transit are valued at cost comprising invoice value and other charges incurred thereon.
4.7. Stock in trade
Stock in trade except wastes are valued at lower of cost and net realizable value. Cost is determined as follows:
Raw material
in hand
in transit
Work in process and finished goods
Waste

Weighted average cost


Cost accumulated up to the balance sheet date
Raw material cost including a portion of production overheads
At net realizable value

4.8. Receivables
These are stated at cost less provisions for any uncollectible amounts. An estimate is made for doubtful receivables
when collection of the amount is no longer probable. Debts considered irrecoverable are written off.
4.9. Foreign currency translation

These financial statements are presented in Pak Rupee, which is the Company's functional currency. All monetary
assets and liabilities denominated in foreign currencies are translated into Pak Rupee at the rates of exchange
prevailing at the balance sheer date, while the transactions in foreign currencies during the year are initially recorded
in functional currency at the rates of exchange prevailing at the transaction date. All non monetary items are
translated into Pak Rupee at exchange rates prevailing on the date of transaction or on the date when fair values are
determined. The Company charges all the exchange differences to profit and loss account.
4.10. Cash and cash equivalents
Cash and cash equivalents are carried in the Balance sheet at cost. Cash and cash equivalents, for the purpose of
cash flow statement are comprised of cheques in hand, cash and bank balances.
4.11. Revenue
Revenue is recognized or the extent that it is probable that the economic benefits will flow to the Company and the
revenue can be reliably measured. Revenue from sale is recognized on dispatch of goods to the customers.

5. Long Term Financing


From Banking Companies
Particulars
Opening balance
Obtained during the year
Paid during the year

Term Finance
I

Term
Finance II

7,433,336 13,847,684
7,433,336 13,847,684
(7,433,336) (5,035,524)
8,812,160

Current portion shown


Under current liabilities

(5,035,524)
3,776,636

LTFF

From
Directors and
Associates

2014

2013

10,669,230
10,669,230
(2,246,153)
8,423,077

291,517,671
239,800,000
531,317,671
(62,500,000)
468,817,671

323,467,921
239,800,000
563,267,921
(77,215,013)
486,052,908

353,506,290
9,900,000
363,406,290
(39,938,369)
323,467,921

(2,246,152)
6,176,925

468,817,671

(7,281,676)
478,771,232

(14,715,016)

Security
Secured
Secured
Secured
Unsecured
Nature of installment
Quarterly
Quarterly
Quarterly
Sub note
5.1
5.1
5.2
5.3
5.1. These are secured against 1st exclusive charge of Rs. 150 M on fixed assets, token registered mortgage of Rs. 0.10 M,
equitable mortgage of Rs. 4.43 M on personal property of one of the director and personal guarantees of all the directors /
mortgagors as well as subordinated loan of Rs. 100 M by director. Mark up rate is 3 months average KIBOR (ask side) +
2.00% per annum.
5.2. The loan is secured against existing 1st exclusive charge of Rs. 29 M over specific imported rice processing machinery. The
tenure of loan is 7 years and 6 months including one year grace period. Mark up rate is 11.20% per annum (including SBP
share).
5.3.

This represents interest free loans from directors and associate of the company. The terms of repayment have not been decided
so far. However, loan from one of the directors is subordinated to the bank loan.
Note

2014
Rupees

6. Trade and other payables


Trade creditors
Advances from customers
Income tax withheld
Accrued liabilities
Workers' profit participation fund

25,447,192
7,183,996
288,302
1,866,263
6.2
34,785,753
6.1. It includes an amount of Rs. ---------/- (2013: Rs. 6,834,947/-) payable to associated undertakings.
6.2.

6.1

Workers' profit participation fund


Balance as on July 01,
Interest on funds utilised in the company's business

56,045
56,045
56,045
56,045
-

Allocation for the year


Less: Amount paid to the fund
7. Short term financing
CF- Pledge
FAPC-1
7.1.

117,596,983
117,596,983
These loans are secured by pledge of stock of basmati rice with 15% (2013: 15%) margin at Bank Alfalah Ltd and 10% (2013:
10%) margin at The Bank of Punjab, open pledge of stock of paddy with 20% (2013: 20%) margin with Bank Alfalah Ltd and
15% (2013: 15%) margin at The Bank of Punjab mark up rate is 3 month KIBOR (ask side) + 2.00% per annum. The available
limits for CF - pledge are Rs. 400 M (2013: 400 M) at Bank Alfalah Ltd and Rs. 200 M (2013: 200 M) at The Bank of Punjab.
The pledge is at factory premises under the control of bank.

8. Accrued mark- up
Long term financing
Short term financing

7.1

239,980
6,334,297
6,574,277

Note
9. Current Portion of non current liabilities
Current portion of long term financing

2014
Rupees
7,281,676

10. Contingencies & commitments


10.1. Contingencies
During the year, the company has not aknowledged a liability amounting to Rs. ------/- (Rs. 363,412/-) of Workers' Welfare
Fund in the light of decision of Honorable Lahore High Court, Lahore dated August 24, 2011 whereby the Honorable
Lahore High Court Lahore has struck down amendments regarding Workers' Welfare Fund Ordinance, 1971 through
Finance Act 2006 and 2008 as being unconstitutional. However, the department has filed an appeal against the decision
which is still pending for adjudication.
10.2. Commitments
Under letter of credit for capital goods

11. Property, plant and equipment


Operating fixed assets
Computer software
Capital work in progress

11.1
11.2
11.3

.
11.1. Operating fixed assets

297,477,938
644,583
298,122,522

2014
PARTICULARS
FREE HOLD
Land
Building
Plant & machinery
Generator
Tools & Equipments
Electric Equipment
Office Equipments
Computers
Furniture & Fixture
Vehicles
Total

Total
As At
01-07-2013
35,549,870
70,296,752
150,882,355
4,250,000
513,416
15,003,259
183,739
2,236,295
694,250
30,083,971
309,693,907

Total
Accumula(Deletions)
As At
Ted As At
30-06-2014 01-07-2013

Additions

21,642,202
10,095,829
6,200,000
91,000
3,009,953
34,240
29,350
102,479

35,549,870
91,938,954
(1,209,015) 159,769,169
10,450,000
604,416
18,013,212
217,979
(214,286)
2,051,359
796,729
30,083,971
(1,423,301) 349,475,659

41,205,053

5,878,295
17,789,211
1,065,688
127,107
3,693,375
24,067
1,108,442
173,642
5,019,978
34,879,805

DEPRECIATION
W.D.V
For
Accumulate
As At
Adjustments d As At
The
30-06-2014
Year
30-06-2014
3,311,099
6,689,544
835,098
39,389
1,322,039
18,535
339,611
60,435
5,012,799
17,628,548

(338,793)
(171,839)
(510,632)

9,189,394
24,139,962
1,900,786
166,496
5,015,414
42,602
1,276,214
234,077
10,032,777
51,997,721

RATE %

COST

35,549,870 82,749,560
5
135,629,207
5
8,549,214 10
437,920 10
12,997,798 10
175,377 10
775,145 30
562,652 10
20,051,194 20
297,477,938

2013
PARTICULARS
FREE HOLD
Land
Building
Plant & machinery
Generator
Tools & Equipments
Electric Equepment
Office Equipments
Computers
Furniture & Fixture
Vehicles
Total

TOTAL
AS AT
01-07-2012
35,549,870
43,491,345
128,302,777
4,250,000
513,416
14,895,680
59,839
1,817,455
694,250
11,525,321
241,099,953

Additions

26,805,407
22,579,578
107,579
123,900
418,840
18,938,650
68,973,954

TOTAL ACCUMUL
(Deletions) AS AT
A-TED AS
30-06-2013
AT
35,549,870
70,296,752
150,882,355
4,250,000
513,416
15,003,259
183,739
2,236,295
694,250
(380,000) 30,083,971
(380,000) 309,693,907

3,781,094
11,317,629
711,875
84,184
2,441,415
7,432
752,093
115,797
2,346,242
21,557,761

DEPRECIATION
FOR
THE
YEAR
2,097,201
6,471,582
353,813
42,923
1,251,960
16,635
356,349
57,845
2,764,936
13,413,244

(91,200)
(91,200)

W.D.V
ACCUMUL AS AT
ATED AS 30-06-2013
AT

RATE %

COST

35,549,870 5,878,295 64,418,457 5


17,789,211 133,093,144 5
1,065,688
3,184,312 10
127,107
386,309 10
3,693,375 11,309,884 10
24,067
159,672 10
1,108,442
1,127,853 30
173,642
520,608 10
5,019,978 25,063,993 20
34,879,805 274,814,102

2014
Rupees
11.1.1. Depreciation charged for the year has been allocated as under:
Cost of sales
Administrative expenses

12,197,168
5,431,380
17,628,548

11.2. Computer software


2014

PARTICULARS

Total
As At
01-07-2013

Computer Software
Total

Additions

650,000
650,000

AMORTIZATION

Accumulate
Total
d As At
(Deletions)
As At
30-06-2014 01-07-2013
-

650,000
650,000

For
The
Year

5,417
5,417

Note
11.3. Capital work in progress
Plant & machinery
Computer software

5,417
5,417

2014
Rupees
-

12. Long term deposits


Security deposits

2,877,041

13. Stores and spares


Stores
Spares

18,659,097
3,767,808
22,426,905

14. Stock in trade


Raw material
Work in process
Finished goods

2,082,677
461,258,103
463,340,780

15. Trade debts


Considered good
Local - unsecured
Foreign- secured

7,751,988
2,165,369
9,917,357

16. Loans and advances


Considered good
Advances
Suppliers
Employees
17. Short term prepayments
Prepaid insurance
Other prepayment

W.D.V
Accumulate
As At
Adjustments d As At
30-06-2014
30-06-2014

15,632,365
299,078
15,931,443
17.1
17.1

145,946
145,946

17.1. Prior year figures have been reclassified for better presentation (refer note # 33.2)
18. Other receivables
Others
18.1 & 18.2
18.1. It represents amount receivable from associated undertakings.
18.2. Prior year figures have been reclassified for better presentation (refer note # 33.2)
19. Tax refunds due from government
Sales tax receivable
Income tax receivable

72,730

2,112,020
8,007,527
10,119,547

RATE %

COST

644,583 10%
644,583
-

Note
20. Cash and bank balances
Cash in hand
Cash at bank
In current accounts
21. Sales - net
Export
Local sales

2014
Rupees
8,465,762
3,930,608
12,396,370

21.1
21.2

Less: Commission

168,368,747
492,213,051
660,581,798
(1,871,274)
658,710,524

21.1. ItPrior
includes
gainbeen
amounting
to Rs.
(2013: 3,234,224/-).
year exchange
figures have
reclassified
for9,390,367/better presentation
(refer note # 33.2)
21.2. It includes Rs. ----------/- (2013: 18,830,339/-) against sales of rice made to Ideal Impex an associated undertaking.
22. Cost of sales
Raw material consumed
Stores and spares consumed
Purchase of rice for processing
Salaries and wages
Freight
Handling charges
Packing expenses
Electricity and fuel
Oil and lubricants
Repair and maintenance
Depreciation
Insurance
Work in process
Balance as on July 01
Balance as on June 30
Finished goods
Balance as on July 01
Balance as on June 30
22.1. Raw material consumed
Balance as on July 01
Purchases
Available for consumption
Balance as on June 30
22.2. Stores and spares consumed
Balance as on July 01
Purchases
Available for consumption
Balance as on June 30
23. Distribution cost
Freight charges
Handling charges
Marine insurance
Export development surcharge
Advertisement and exhibition

22.1
22.2

11.1.1

450,199,814
3,950,544
29,209,611
5,590,512
677,347
3,685,135
2,308,479
11,330,835
645,239
2,125,149
12,197,168
953,627
522,873,461
(2,082,677)
520,790,784
548,901,593
(461,258,103)
608,434,274
934,800
449,265,014
450,199,814
450,199,814
16,426,538
9,950,911
26,377,449
(22,426,905)
3,950,544
4,010,497
2,850,443
117,079
636,135
7,614,154

2014
Rupees

Note
24. Administrative expenses
Salaries
Electricity
Communication
Travelling and conveyance
Printing and stationery
Entertainment
Newspaper and periodicals
Debtors written off
Fee and subscriptions
Rent, rate and taxes
Default surcharge & penalties
Auditors remuneration
Legal and professional
Vehicle running and maintenance
Repair and maintenance
Sales tax rocovery
Insurance
Depreciation
Ammortization
Miscellaneous

9,718,739
596,360
357,740
113,250
195,455
728,892
9,934
62,774
1,721,749
1,178,310
177,328
75,000
169,570
1,963,800
539,490
24.1
2,793,440
949,237
5,431,380
5,417
205,939
26,993,803
24.1. This represents amount paid to FBR relating to prior year recovery of short paid tax under Rule 25 of the Sales Tax Rules,
2006.
25. Other income
Gain on disposal of assets
Foreign exchange gain
Others

137,988
9,390,367
491,428
10,019,783

26. Finance cost


Interest on worker's profit participation fund
Mark-up on long term financing
Mark-up on short term financing
Bank charges and commission

2,795,124
35,353,518
2,843,487
40,992,129

27. Other expenses


Charity and donations

100

28. Taxation
Current
28.1
28.1. In view of the available tax losses, provision for current taxation is based on turnover tax under section 113 of the Income Tax
Ordinance, 2001 for sales under normal law and under section 154 read with section 169 for sales under final tax regime - net
off tax credits under section 650 of the Ordinance.
28.2. Reconciliation of tax expense and accounting profit has not been presented in these financial statements due to the reason
discussed in note 28.1 to the financial statements.

29. Remuneration to Chief executive, directors & executives


2014
Chief
Executive
Managerial remuneration
No. of persons

Directors
Rupees
4

2013
Executives

Chief
Executive

Directors
Rupees
4

2013
353,506,290
9,900,000
363,406,290
(39,938,369)
323,467,921
(14,715,016)
308,752,905

1st exclusive charge of Rs. 150 M on fixed assets, token registered mortgage of Rs. 0.10 M,
.43 M on personal property of one of the director and personal guarantees of all the directors /
dinated loan of Rs. 100 M by director. Mark up rate is 3 months average KIBOR (ask side) +

existing 1st exclusive charge of Rs. 29 M over specific imported rice processing machinery. The
d 6 months including one year grace period. Mark up rate is 11.20% per annum (including SBP

loans from directors and associate of the company. The terms of repayment have not been decided
ne of the directors is subordinated to the bank loan.
2013
Rupees
17,117,438
319,809
282,351
1,810,263
56,045
19,585,906

1,799,193
56,045
1,855,238
1,855,238
1,799,193
56,045

229,151,364
195,338,000
424,489,364
ledge of stock of basmati rice with 15% (2013: 15%) margin at Bank Alfalah Ltd and 10% (2013:
Punjab, open pledge of stock of paddy with 20% (2013: 20%) margin with Bank Alfalah Ltd and
The Bank of Punjab mark up rate is 3 month KIBOR (ask side) + 2.00% per annum. The available
400 M (2013: 400 M) at Bank Alfalah Ltd and Rs. 200 M (2013: 200 M) at The Bank of Punjab.
mises under the control of bank.
356,509
11,923,744
12,280,253

2013
Rupees
14,715,016

any has not aknowledged a liability amounting to Rs. ------/- (Rs. 363,412/-) of Workers' Welfare
n of Honorable Lahore High Court, Lahore dated August 24, 2011 whereby the Honorable
has struck down amendments regarding Workers' Welfare Fund Ordinance, 1971 through
8 as being unconstitutional. However, the department has filed an appeal against the decision
djudication.

7,241,920

274,814,102
672,808
275,486,910

2014
Total
Accumula(Deletions)
As At
Ted As At
30-06-2014 01-07-2013

Additions

21,642,202
10,095,829
6,200,000
91,000
3,009,953
34,240
29,350
102,479

35,549,870
91,938,954
(1,209,015) 159,769,169
10,450,000
604,416
18,013,212
217,979
(214,286)
2,051,359
796,729
30,083,971
(1,423,301) 349,475,659

41,205,053

5,878,295
17,789,211
1,065,688
127,107
3,693,375
24,067
1,108,442
173,642
5,019,978
34,879,805

DEPRECIATION
W.D.V
For
Accumulate
As At
Adjustments d As At
The
30-06-2014
Year
30-06-2014
3,311,099
6,689,544
835,098
39,389
1,322,039
18,535
339,611
60,435
5,012,799
17,628,548

(338,793)
(171,839)
(510,632)

9,189,394
24,139,962
1,900,786
166,496
5,015,414
42,602
1,276,214
234,077
10,032,777
51,997,721

RATE %

COST

35,549,870 82,749,560
5
135,629,207
5
8,549,214 10
437,920 10
12,997,798 10
175,377 10
775,145 30
562,652 10
20,051,194 20
297,477,938

2013

Additions

26,805,407
22,579,578
107,579
123,900
418,840
18,938,650
68,973,954

TOTAL ACCUMUL
(Deletions) AS AT
A-TED AS
30-06-2013
AT
35,549,870
70,296,752
150,882,355
4,250,000
513,416
15,003,259
183,739
2,236,295
694,250
(380,000) 30,083,971
(380,000) 309,693,907

3,781,094
11,317,629
711,875
84,184
2,441,415
7,432
752,093
115,797
2,346,242
21,557,761

DEPRECIATION
FOR
THE
YEAR
2,097,201
6,471,582
353,813
42,923
1,251,960
16,635
356,349
57,845
2,764,936
13,413,244

(91,200)
(91,200)

W.D.V
ACCUMUL AS AT
ATED AS 30-06-2013
AT

RATE %

COST

35,549,870 5,878,295 64,418,457 5


17,789,211 133,093,144 5
1,065,688
3,184,312 10
127,107
386,309 10
3,693,375 11,309,884 10
24,067
159,672 10
1,108,442
1,127,853 30
173,642
520,608 10
5,019,978 25,063,993 20
34,879,805 274,814,102

2013
Rupees
10,217,479
3,195,765
13,413,244

2014

Additions
650,000
650,000

AMORTIZATION

Accumulate
Total
d As At
(Deletions)
As At
30-06-2014 01-07-2013
-

650,000
650,000

For
The
Year
5,417
5,417

W.D.V
Accumulate
As At
Adjustments d As At
30-06-2014
30-06-2014
-

5,417
5,417

RATE %

COST

644,583 10%
644,583
-

2013
Rupees
22,808
650,000
672,808
2,877,041

14,416,178
2,010,359
16,426,537
934,800
548,901,593
549,836,393

747,965
87,594,052
88,342,017

7,874,047
181,342
8,055,389
171,842
316,056
487,898

110,630

6,062,947
4,193,299
10,256,246

2013
Rupees
16,583,328
17,005,926
33,589,254
513,714,028
175,397,800
689,111,828
(4,415,713)
684,696,115

3: 18,830,339/-) against sales of rice made to Ideal Impex an associated undertaking.


871,074,942
5,479,656
7,313,033
4,132,069
3,868,291
22,589,063
14,106,131
113,272
93,685
10,217,479
541,664
939,529,285
939,529,285
231,095,505
(548,901,593)
621,723,197
35,750,000
836,259,742
872,009,742
(934,800)
871,074,942
8,644,601
13,261,593
21,906,194
(16,426,538)
5,479,656
15,136,463
4,670,107
533,333
1,100,606
2,507,211
23,947,720

2013
Rupees
10,462,839
742,428
491,717
349,679
279,905
805,802
15,399
2,258,517
184,444
75,000
34,202
2,948,380
436,394
592,150
3,195,765
182,325
23,054,946
to FBR relating to prior year recovery of short paid tax under Rule 25 of the Sales Tax Rules,

21,200
3,234,224
3,255,424

56,045
4,497,213
37,169,610
2,873,438
44,596,306
7,000

2,461,321
osses, provision for current taxation is based on turnover tax under section 113 of the Income Tax
nder normal law and under section 154 read with section 169 for sales under final tax regime - net
650 of the Ordinance.

se and accounting profit has not been presented in these financial statements due to the reason
financial statements.

2013
Executives
Rupees
5,000,000
6

30. Transactions with related parties


The Company in the normal course of business carries out transactions with various related parties. Amounts due from and to
related parties are shown under the relevant notes to the financial statements. Detail of transactions with related parties, other
than those which have been specifically disclosed elsewhere in these financial statements are as follows:
Name
Ideal Spinning Mills
Limited
Ideal Spinning Mills
Limited
Arshad Corporation
(Pvt.) Limited
Ideal Fabrics (Pvt.)
Limited
Ideal Overseas General
Trading Company, LLC

Nature of
relationship
Associate

Nature of transaction
Purchase - Diesel

2014
Rupees
-

Associate

Expenses paid by associated company on


behalf of company
Expenses paid by associated company on
behalf of company
Expenses on behalf of associated company

Associate

Expenses on behalf of associated company

Associate
Associate

31. Financial risk management objectives & policies


The company finances its operations through a mix of equity, borrowings and working capital management with a view to
maintaining an appropriate mix between various sources of finance to minimize risk. Taken as a whole, the company is
exposed to market risk comprising interest rare risk, currency risk and other price / equity risk, credit risk and liquidity risk.
The company's finance departments oversees the management of these risks and provide assurance to the company's senior
management that the company's financial risk-raking activities are governed by appropriate, policies and procedures and that
financial risks are identified, measured, and managed in accordance with company policies and risk appetite.

2014
Rupees
FINANCIAL INSTRUMENTS BY CATEGORY
Financial assets:
Long term deposits
Trade debts
Loans and advances
Short term prepayments
Other receivables
Cash & bank balances

2,877,041
9,917,357
15,931,443
145,946
72,730
12,396,370
41,340,887

Financial liabilities:
Long term financing
Trade and other payables
Short term borrowings
Accrued mark-up

486,052,908
27,313,455
117,596,983
6,574,277
637,537,623

31.1. Market risk


Market risk is the risk that the fair value of future cash flows of a financial instrument,will fluctuate because of changes in
market prices. Market prices comprise three types of risk: yield/mark-up rate risk, currency risk, and other price risk, such as
equity risk. Financial instruments susceptible to / affected by market risk include loans, borrowings and deposits. The
sensitivity analysis in the following sections relate the position as at June 30, 2013 and 2014.
31.1.1. Yield / Mark-up rate risk
Yield/mark-up rate risk is the risk that the fair value or future cash flows of the financial instruments will fluctuate
due to changes in the market yield/mark -up rates. Sensitivity to yield/mark-up rate risk arises from mismatch of
financial assets and liabilities that mature or reprice in a given period. Significant interest rate risk exposure are
primarily managed by a mix of borrowings at fixed and variable interest rates.
The effective yield/mark-up rate on the financial assets and liabilities to which the company is exposed to are
disclosed in their respective notes to the financial statements.

course of business carries out transactions with various related parties. Amounts due from and to
der the relevant notes to the financial statements. Detail of transactions with related parties, other
specifically disclosed elsewhere in these financial statements are as follows:
2013
Rupees
1,273,746
14,340
96,711
95,030
15,600

perations through a mix of equity, borrowings and working capital management with a view to
mix between various sources of finance to minimize risk. Taken as a whole, the company is
prising interest rare risk, currency risk and other price / equity risk, credit risk and liquidity risk.
rtments oversees the management of these risks and provide assurance to the company's senior
ny's financial risk-raking activities are governed by appropriate, policies and procedures and that
measured, and managed in accordance with company policies and risk appetite.

2013
Rupees

2,877,041
88,342,018
8,055,389
487,898
110,630
33,589,254
133,462,230

323,467,921
18,927,701
424,489,364
12,280,253
779,165,239

he fair value of future cash flows of a financial instrument,will fluctuate because of changes in
comprise three types of risk: yield/mark-up rate risk, currency risk, and other price risk, such as
uments susceptible to / affected by market risk include loans, borrowings and deposits. The
owing sections relate the position as at June 30, 2013 and 2014.

risk is the risk that the fair value or future cash flows of the financial instruments will fluctuate
he market yield/mark -up rates. Sensitivity to yield/mark-up rate risk arises from mismatch of
liabilities that mature or reprice in a given period. Significant interest rate risk exposure are
y a mix of borrowings at fixed and variable interest rates.

mark-up rate on the financial assets and liabilities to which the company is exposed to are
pective notes to the financial statements.

31.1.2. Currency risk / Foreign exchange risk


Currency risk is the risk that the fair value or future cash flows of a financial instrument, will fluctuate because of
changes in foreign exchange rates. Foreign currency risk arises mainly where receivables and payables exist due to
foreign currency transactions. The company is exposed to currency risk on debtors.
31.1.2. Other price risk / Equity price risk
Other price risk is the risk that the fair value or future cash flows of the financial instruments will fluctuate because of
changes in market prices such as equity price risk. Equity price risk is the risk arising from uncertainties about future
values of investments securities. As at balance sheet date, the company is not exposed to equity price risk as the
Company do not have any investments in equity market.
31.2. Credit risk and cocentration of credit risk
Credit risk is the risk representing accounting loss that would be recognized at the reporting date if one party to a financial
instrument will fail to discharge an obligation or its failure to perform duties under the contract as contracted. Concentration of
credit risk arises when a number of counterparties are engaged in similar business activities or have similar economic features
that would cause their ability to meet contractual obligations to be similarly affected by changes in economic, political or other
conditions. Concentration of credit risk indicates the relative sensitivity of the Company's performance to developments
affecting is particular industry. The maximum exposure to credit risk at the reporting date is as follows:
2014
Rupees
Financial assets:
Long term deposits
Trade debts
Loans and advances
Short term prepayments
Other receivables
Bank balances

2,877,041
9,917,357
15,931,443
145,946
72,730
3,930,608
32,875,125

Credit quality of financial assets


Due to company's long standing relationship's with these counterparties and after giving due consideration to their strong
financial standing, management does not expect non-performance by these counter parties on their obligations to the company.
For trade debts, credit quality of customers is assessed taking into consideration their financial position and previous dealings
and on that basis, individual credit limits are set. Moreover, the management regurarly monitors and reviews customers' credit
exposure. Accordingly, the company is not exposed to any significant credit risk.
The credit risk on liquid funds is limited because the counter parties are banks with reasonably high credit ratings.
31.3. Liquidity risk
Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities. The
company's approach to manage liquidity risk is to maintain sufficient level of liquidity by holding highly liquid assets and the
availability of funding through an adequate amount of commited credit facilities. This includes maintenance of balance sheet
liquidity ratios through working ci:ipital management. The management believes that the company is not exposed to any
liquidity risk.
The table below summarises the maturity profiles of company's financial liabilities as on June 30, 2014 and 2013 based on
contractual undiscounted payments date and present market interest rates.
2014
More than 6
More than 1
Within 6
TOTAL
months and year and upto 5
months
upto 1 year
years
Rupees
Financial liabilities:
Long term financing
Trade and other payables
Short term borrowings
Accrued mark-up

3,640,838
27,313,455
117,596,983
6,574,277
155,125,553

3,640,838
3,640,838

478,771,232
478,771,232

Within 6
months
Financial liabilities:
Long term financing
Trade and other payables
Short term borrowings
Accrued mark-up

7,357,506
18,927,701
424,489,364
12,280,253
463,054,824

2013
More than 6
More than 1
months and year and upto 5
upto 1 year
years
Rupees
7,357,510
7,357,510

TOTAL

308,752,905
308,752,905

31.4. Fair value of financial instruments


Fair value is the amount for which an asset could be exchanged or a liability settled between knowledgeable willing parties in
an arm's length transaction. The carrying value of all financial assets and liabilities reflected in the financial statements
approximate their fair values

31.5. Capital risk Management:


The primary objective of the Company's capital management is to safeguard the company's ability to continue as a going
concern, maintain healthy capital ratios, strong credit rating and optimal capital structures in order to ensure ample availability
of finance for its existing and potential investment projects, so that it can continue to provide returns for shareholders thereby
maximizing their wealth, benefits for other stakeholders and reduce the cost of capital.
The Company manages its capital structure and makes adjustment to it in the light of changes in economic conditions. In order
to maintain or adjust the capital structure, the company may adjust the amount of dividend paid to shareholders, return capital
to shareholders, issue new shares through bonus or right issue or sell assets to reduce debts or raise debts, if required.
The Company monitors capital by using a gearing ratio, which is calculated as borrowings divided by total capital employed.
Borrowings represent long term financing, lease finance and short term borrowings obtained by the Company. Total capital
employed includes 'total equity' plus borrowings.
2014
Rupees
Financial liabilities:
Long term financing
Short term borrowings
Debts
Equity
Total capital (equity + debt)
Gearing ratio

486,052,908
117,596,983
603,649,891
190,340,720
793,990,611
76.03

32. Date of authorization for issue


The financial statements were authorised for issue on ___________________ by the Board of Directors of the Company.

33. General
33.1. Nomenclature of following accounts has been changed in these financial statements for better presentation.
Previous Nomenclature
Current Nomenclature
Advances, prepayments & other
Loans & advances
receivables
Operating assets
Operating fixed assets
Withholding tax payable
Income tax withheld
33.2. Following figures have been reclassified in these financial statements:
Account Head
Previous head
Prepaid insurance
Advances, prepayments & other
(Rs. 171,842/-)
receivables
Other prepayments
Advances, prepayments & other
(Rs. 316,056/-)
receivables
Others
Advances, prepayments & other
(Rs. 110,630/-)
receivables
Foreign exchange gain
Sales-net - export
(Rs. 3,234,224/-)

Current head
Short term prepayments
Short term prepayments
Other receivables
Other income

risk that the fair value or future cash flows of a financial instrument, will fluctuate because of
exchange rates. Foreign currency risk arises mainly where receivables and payables exist due to
nsactions. The company is exposed to currency risk on debtors.

e risk that the fair value or future cash flows of the financial instruments will fluctuate because of
rices such as equity price risk. Equity price risk is the risk arising from uncertainties about future
ts securities. As at balance sheet date, the company is not exposed to equity price risk as the
ve any investments in equity market.

enting accounting loss that would be recognized at the reporting date if one party to a financial
rge an obligation or its failure to perform duties under the contract as contracted. Concentration of
mber of counterparties are engaged in similar business activities or have similar economic features
to meet contractual obligations to be similarly affected by changes in economic, political or other
f credit risk indicates the relative sensitivity of the Company's performance to developments
y. The maximum exposure to credit risk at the reporting date is as follows:
2013
Rupees
2,877,041
88,342,018
8,055,389
487,898
110,630
17,005,926
116,878,902

ding relationship's with these counterparties and after giving due consideration to their strong
ent does not expect non-performance by these counter parties on their obligations to the company.

y of customers is assessed taking into consideration their financial position and previous dealings
credit limits are set. Moreover, the management regurarly monitors and reviews customers' credit
ompany is not exposed to any significant credit risk.
ds is limited because the counter parties are banks with reasonably high credit ratings.

an entity will encounter difficulty in meeting obligations associated with financial liabilities. The
age liquidity risk is to maintain sufficient level of liquidity by holding highly liquid assets and the
gh an adequate amount of commited credit facilities. This includes maintenance of balance sheet
king ci:ipital management. The management believes that the company is not exposed to any

the maturity profiles of company's financial liabilities as on June 30, 2014 and 2013 based on
yments date and present market interest rates.
2014
TOTAL
Rupees

486,052,908
27,313,455
117,596,983
6,574,277
637,537,623

2013
TOTAL
Rupees
323,467,921
18,927,701
424,489,364
12,280,253
779,165,239

which an asset could be exchanged or a liability settled between knowledgeable willing parties in
The carrying value of all financial assets and liabilities reflected in the financial statements

e Company's capital management is to safeguard the company's ability to continue as a going


pital ratios, strong credit rating and optimal capital structures in order to ensure ample availability
d potential investment projects, so that it can continue to provide returns for shareholders thereby
efits for other stakeholders and reduce the cost of capital.

apital structure and makes adjustment to it in the light of changes in economic conditions. In order
ital structure, the company may adjust the amount of dividend paid to shareholders, return capital
ares through bonus or right issue or sell assets to reduce debts or raise debts, if required.

tal by using a gearing ratio, which is calculated as borrowings divided by total capital employed.
erm financing, lease finance and short term borrowings obtained by the Company. Total capital
ty' plus borrowings.
2013
Rupees
323,467,921
424,489,364
747,957,285
205,644,873
953,602,158
78.43

e authorised for issue on ___________________ by the Board of Directors of the Company.

Short term prepayments


Short term prepayments
Other receivables

33.3. Total number of employees at the year end are ------ (2013: ).
33.4. Figures have been rounded off to the nearest rupee.

CHIEF EXECUTIVE

DIRECTOR

DIRECTOR

IDEAL RICE INDUSTRIES (PVT) LTD


GROUPING FOR ACCOUNTS PREPARATION
GL CODE

TITLE

SHARE CAPITAL AND RESERVES


GL CODE
ISSUED SUBSCRIBED & PAID UP CAPITAL
1111111114
SHARE CAPITAL-AHSAN SAEED
1111111117
SHARE CAPITAL- KANWAL SAEED
1111111111
SHARE CAPITAL-AMJAD SAEED
1111111116
SHARE CAPITAL-RUBINA AMJAD
1111111115
SHARE CAPITAL-KHIZER SAEED
1111111113
SHARE CAPITAL-OMER SAEED
TOTAL- SHARE CAPITAL

2,014

25,000,000
25,000,000
20,100,000
2,510,000
102,390,000
25,000,000

200,000,000
-

RESERVES
GL CODE
REVENUE RESERVES
1112111111
UNAPPRPRIATED PROFIT / LOSS
TOTAL-RESERVES

5,644,873
5,644,873

GRAND TOTAL- SHARE CAPITAL AND RESRVES


LONG TERM LIABILITIES
GL CODE
LONG TERM LOANS FROM BANKING COMPANIES
1211111111
LTFF - BOP
1211111112
TERM FINANCE-1 - BANK ALFALAH LTD
1211111113
TERM FINANCE-2 - BANK ALFALAH LTD.
TOTAL- LONG TERM LOAN FROM BANKING COMPANIES
GL CODE

8,423,077

17,235,237

LONG TERM LOANS FROM ASSOCIATED AND DIRECTORS

OMER SAEED
1212121113
KHIZER SAEED
1212121115
MUHAMMAD SAEED
1212121111
AMJAD SAEED
1212121112
AHSAN SAEED
1212131111
RUBINA AMJAD
TOTAL-LONG TERM LOANS FROM ASSOCIATED AND DIRECTORS
1212121114

GRAND TOTAL-LONG TERM LIABILITIES

GL CODE
1413111218
1413111165
1413111173

8,812,160

TRADE CREDITORS
CREDITORS FOR STORES
PAKISTAN STATE OIL
TOTAL OIL PAKISTAN (PVT.) LTD
ABCO TECHNICAL (PVT) LTD

33,460,000
7,660,000
510,000
365,902,671
50,985,000
10,300,000

468,817,671
486,052,908

0
0
27,814

1413111167
1413111179
1413111237
1413111227
1413111252
1413111139
1413111134
1413111177
1413111146
1413111241
1413111220
1413111206
1413111210
1413111111
1413111236
1413111189
1413111203
1413111196
1413111213
1413111176
1413111128
1413111119
1413111160
1413111221
1413111205
1413111234
1413111238
1413111246
1413111249
1413111172
1413111125
1413111136
1413111181
1413111194
1413111226
1413111183
1413111198
1413111124
1413111121
1413111231
1413111245
1413111190
1413111188
1413111195
1413111217
1413111216
1413111222

ORIENT ENERGY SYSTEMS (PVT) LTD


ALI INTERNATIONAL
BILAL TRADERS (STORE CREDITOR)
NEW SHALIMAR INDUSTRIES (PVT) LTD
HI TECH TEXTILE CONCERN
AL NOOR PRINTERS
HAIDER COMPUTERS
ANJUM MILL STORE
A.T CHAUDHARY & CO
COMPUTER GADGETS
SALEEM PLASTIC
AL-RAZIQ TRADERS
SH. WILAYAT ANMED & SONS
HAFIZ ELECTRIC CONCERN
M SIDDIQUE BROTHER
ORANGE TECHNOLOGIES (PVT) LTD
COMPUTER CONCERN
SHAHEEN PLASTIC
PAK DIMOND INDUSTRIAL SALES
HAMZA INDUSTRIAL STORE
MUHAMMAD ISHTIAQ PERVAIZ
JAVAID ANTI-FIRE CORPORATION
CLASSWELL CHEMICAL ENTERPRISES
POLICE FOUJI GENERAL STORE
MATCO (PVT) LTD
FINE BOOKS
DIGTECH DIGITAL TECHNOLOGY
COMFORTS HOUSE
AQUA TECH SERVICES
HAIDER COMPUTER & STATIONERS
PIONEER CEMENT LIMITED
NAFEES BOOK DEPO & STATIONERS
WORLD LINK
NASEER ENTERPRISES
PAKISTAN CABLES LIMITED
ISHTIAQ STEEL INDUSTRY
SUPERIOR THREAD
SHAKEEL TRADERS (STORE CREDITOR)
UNIQUE DRAWING & STATIONERY MART
PROGRESSIVE PAINTS
CITIZEN STATIONERS
MAKKAH AUTO CAR
METRO-HABIB CASH & CARRY PAKISTAN (PVT) LTD
NEW ALLIED INDUSTRIES
MASOOD FAROOQ INDUSTRIES
HAFIZ INDUSTRIAL STORE
TUBA ELECTRIC COMPANY

52,607
6,200

0
0
11,660

0
0
24,088
900

0
0
450

0
98,833

0
0
1

0
0
0
1

0
48,200

0
32,175

0
0
0
248,000
1
1,031
17,165

0
6,960

0
75,861

0
0
0
0
2,450

0
0
19,575

0
1,950

1413111208
1413111117
1413111131
1413111215
1413111114
1413111214
1413111233
1413111230
1413111130
1413111175
1413111142
1413111118
1413111239
1413111243
1413111202
1413111248
1413111123
1413111116
1413111200
1413111244
1413111240
1413111169
1413111224
1413111223
1413111112
1413111229
1413111225
1413111184
1413111164
1413111235
1413111232
1413111228
1413111149
1413111182
1414131116
2913111155
1414131114

WAQAS TRADING COMPANY


TAIMOOR TRADERS
MIAN TRADERS
ITTEFAQ STEEL CORPORATION
BLUE MOON FILLING STATION
S.N INDUSTRIAL CORPORATION
KNEC ELECTRIC COMPANY
DIAMOND TRDERS
STAR COMPUTER & STATIONERY
A-B ELECTRONICS
SUPER ELECTRONICS
MAQBOOL & SONS
B.M CORPORATION
INTERRA ENERGY SOLUTIONS
TYRE HOUSE
MICRON COMPUTER SERVICES
FINE OFFICE PRODUCTS
PIONEER ELECTRIC COMPANY
NABEEL TRADERS
MATADOR TECHNICAL SYSTEMS
FAZAL ENTERPRISES
MICRO TECH
USMAN TRADERS
IDEAL CORPORATION
MADINA MILL STORE
UNI-COMMERCE (PVT) LTD
LUBRIC ELECTRO
NEW DIGITAL COMPUTER SERVICES
PAKISTAN CHAIN CENTER
JAWAD TRADERS
ZAINAB ENGINEERING
ELECTRIC & ELECTRIC CONCERN
GENERAL PIPE & MACHINERY STORE (PVT) LTD
SUPPLY CHAIN BUSINESS SOLUTIONS
FAST CABELS LTD.
CANON SOLUTION
DEWAN MOTORS PVT. LTD
TOTAL - CREDITORS FOR STORES

GL CODE
1413121120
1413121132
1413121133
1413121131

CREDITORS FOR CONSTRUCTION


MAJEED (LABOUR)
FARHAN MUNIR & COMPANY CONTRACTORS-GODOWN
FARHAN MUNIR & COMPANY CONTRACTORS- BIN
MAQSOOD AHMAD PAINT CONTRACTOR
TOTAL- CREDITORS FOR CONSTRUCTION

0
4,560

0
148,460
1,225,226
70,751

0
8,540
27,780

0
100,000
173,543
1

0
0
3,900

0
17,600

0
0
0
0
0
0
46,693

0
43,750
11,201
22,200

0
0
0
6,600

0
1
24837
7600
2,619,165

46,958
1,839,718
369,871
2,256,547

GL CODE
1413131112
1413131116
1413131111
1413131113
1413131114

CREDITORS FOR INSURANCE


JUBILEE GENERAL INSURANCE CO. LTD
ADAMJEE INSURANCE CO LTD.
HABIB INSURANCE COMPANY LTD
PREMIER INSURANCE LTD
IGI INSURANCE LTD
TOTAL- CREDITORS FOR INSURANCE

GL CODE
1413141243
1413141179
1413141253
1413141158
1413141168
1413141199
1413141246
1413141244
1413141133
1413141230
1413141254
1413141152
1413141205
1413141149
1413141140
1413141221
1413141222
1413141200
1413141242
1413141189
1413141252
1413141135
1413141137
1413141211
1413141209
1413141225
1413141224
1413141212
1413141183
1413141136
1413141219
1413141228
1413141146
1413141239
1413141247

PADDY CREDITORS
GHULAM JAFFAR ALI
CHAUDRY DIN HUMAHHAD & SONS SARGODHA
MUHAMMAD NAWAZ
MUHAMMAD ASGHAR ALI
HAJI ABDUAL RASHEED & COMPANY
MUHAMMAD SAJJAD HUSSAIN
SHEIKH DANYAL
MUHAMMAD IQBAL
REHMAT ULLAH ADA MUHAMMAD WALA CHINIOT
GHULAM MUSTAFA - PEER MAHAL
MUHAMMAD HAMEED (PADDY)
KARAM RICE CORPORATION (KAMOKE)
SHEHZAD IQBAL (MANDI BHAODIN)
MALIK ZAFAR ABBAS (SHAH JUWINA)
NAIMAT ULLAH COMMISSION SHOP
CHEEMA TRADERS
SHAN MUHAMMAD
AL-MURSALEEN TRADERS(SHAHJONA)
MUHAMMAD SHARIF (PADDY)
JAVED TRADERS (ADA SHEIKHIAN)
KHAN ENTERPRISES
USMAN SHERAZI
ABDUL GHAFOOR MLAHI & CO
AWAISI COMMISSION SHOP
SAQIB COMMISSION SHOP
GHULAM MUSTAFA - SHAHKOT
ZAFAR ABBAS BHATTI & ADNAN ZAFAR
ABDULLAH & CO
EMAN TRADERS
ABU BAKAR RICE BROKER
KHIZER HAYAT SUPRA
MAKKI & SONS - HAFIZABAD
MUHAMMAD ALI
FAKHAR THABAL & CO
KHALEEQ UR REHMAN

42,305
78,499
2,600
0
139,858
75,929
12,400
25,191
8,526
8,450
22,000
316
210,399
56,718
18,189
1
12,550
36,474
101,821
10,725
79,151
4
0
40,357
11,318
0
0
500
4
51,661
0
300
9,940
9,999
38,000

1413141235
1413141139
1413141232
1413141256
1413141202
1413141208
1413141217
1413141220
1413141226
1413141129
1413141177
1413141245
1413141233
1413141249
1413141125
1413141145
1413141114
1413141176
1413141174
1413141147
1413141160
1413141207
1413141122
1413141229
1413141215
1413141223
1413141240
1413141167
1413141238
1413141234
1413141169
1413141251
1413141131
1413141198
1413141161
1413141236
1413141231
1413141204
1413141250
1413141214
1413141257
1413141124
1413141118
1413141227
1413141216
1413141241
1413141237

MUHAMMAD RIAZ - SAYAL MOR


HUSNAIN COMMISSION SHOP (KHAN KAH DOGRA)
AMJAD ABBAS S/O SARANG KHAN
MEHMOOD MUSTAFA
MUHAMMAD WARIS (LALIYAN)
TARIQ SALEEM RICE TRADERS
MALIK COMMISSION SHOP (KALYKI)
AMJAD KHAN
MIAN SHAHZAD AHMED
MUHAMMAD ARSHAD TRADERS
ZULIFQAR ALI
HAJI MUHAMMAD YAQOOB
SHEIKH SAIF ULLAH
MOHSIN IQBAL
MUHAMMAD NAWAZ QADRI
MALIK SAQIB HUSSAIN & COMPANY
BILAL RICE CORPORATION
GEO TRADERS
AMANULLAH KHAN
NAVEED ASLAM
ABDULALLAH TRADERS(SHAKOT)
ALMURSALEEN TRADERS
A.S RICE CORPORATION
CHOUDHARY TRADERS - FAROQA ROAD, SARGODHA
WASEEM TRADERS
MUHAMMAD RIAZ - MURIDKE
MUHAMMAD MANSOOR (PADDY)
ABID ALI (PINDIBHUTIAN HAFAZABAD)
AHMED TRADERS - JHANG
ALLAH BAKSH AWAN
MUHAMMAD USMAN (ADA PANWA)
NEW AL-MADINA COMMISSION SHOP
SHERAZ TRADERS CHINIOT
MUHAMMAD KHALID COMMISSION SHOP
HAJI NAZIR AHMED (KHAN KAN DOGRAN)
AL HARAM TRADERS - JHANG
REHMAN RICE TRADERS
AMJAD ALI (MUHAMMADWALA)
MUHAMMAD AKRAM
RAB NAWAZ
MUHAMMAD RAMZAN (SHAH JUNA)
TAYYAB TRADERS
GHULAM ABBAS
MALIK GALIB HUSSAIN - SUKHEKE
SHEIKH WAHEED AHMAD
GHULAM SHABBIR
DANISH WAQAR - SHAHJEONA

0
1
5,000
15,050
97,204
26,213
69,011
9,720
14,300
4,999
0
5,000
6,200
8,000
6,035
71,400
0
126,328
1,600
5,950
12,070
1
2
60,983
48
0
32,362
0
5,600
14,600
0
131,962
29,030
2
7,989
11,902
5,000
0
0
14,800
0
11,297
1,690
17,424
11,481
38,680
12,900

1413141184 AL MAKKAH TRADING COMPANY


1413141141 BILAL TRADERS (WANDO)
1413141123 MOHAL ENTERPRISES
TOTAL- PADDY CREDITORS
GL CODE
1413151123
1413151142
1413151113
1413151129
1413151126
1413151141
1413151111
1413151115
1413151112
1413151117
1413151140
1413151138
1413151135

RICE CREDITORS
SHEIKH MUHAMMAD TUFAIL
SINDHU TRADERS STOCKIST
ANWAR FARID
HAZAR RICE MILLS
AL NOOR RICE DEALERS & COMMISSION AGENTS
AKRAM TRADERS
REEM RICE MILLS (PVT) LTD
KHALID MEHMOOD SHERAZI
M. AFZAL
MUHAMMAD IQBAL ANJUM
GHOSE MUHAMMAD & SONS
MADINA COTTON FACTORY
FARID AHMAD
TOTAL- RICE CREDITORS

GL CODE
1413181112
1413181113
1413181120
1413181116
1413181118
1413181119
1413181114
1413181117

EXPORT RELATED CREDITORS


BEHRAM TEHMURAS KAKALIA
APL CO PTE LTD
SCL PAKISTAN
ITTEFAQ SHALMANI GOODS
JP BRUN (COMMISSION A/C)
UNITED ARAB SHIPPING AGENCY COMPANY PAKISTAN (PVT) LT
PEGASUS MARITIME PAKISTAN (PVT) LTD
SGS PAKISTAN (PVT) LTD
TOTAL- EXPORT RELATED CREDITORS

GL CODE
1413201142
1413201113
1413201128
1413201129
1413201116
1413201136
1413201139
1413201117
1413201119
1413201158

OTHER CREDITORS
S.A.SALAM PUBLICATION
FARHAN MUNIR & COMPANY CONTRACTORS-ROADS
PERVAIZ UMER ENTERPRISE
IDEAL BUILDERS AND SEALES
CORPORATE GENERAL SOLUTIONS (PVT) LTD
ASIF ENTERPRISES
ASGHAR & SONS (PVT.) LTD
INDUSTRIAL ERECTORS
SHAHKOT KARACHI GOODS
ELECTRONIC LINKS

62,861
0
8,571
2,067,451

2
0
52,890
2
13,095
2
0
0
3,451
0
110,828
1
0
180,271

0
0
0
0
379,525
0
3
26,440
405,968

2,300
70,038
28,046
269,252
115,000
0
1,814
0
3,750
0

1413201149 MUHAMMAD SHAHAZ BARDANA


1413201154 NADEEM
1413201152 INTERNATIONAL CREDIT INFORMATION LTD
TOTAL- OTHER CREDITORS
GL CODE
PAYABLE TO ASSOCIATED UNDERTAKINGS
1412111111 IDEAL IMPEX
1412111117 ARSHAD CORPORATION (PVT) LTD
1412111122 IDEAL SPINNING MILLS LTD (SPNING)

200,000
8,500
43,740
742,440

16,671,047

114,031
390,272

17,175,350
GRAND TOTAL- TRADE CREDITORS
GL CODE
1414111116

ACCRUED MARK-UP
MARK-UP PAYABLE

25,447,192

6,574,277
6,574,277

GL CODE
1414111123

WPPF PAYABLE
WPPF PAYABLE

56,045
56,045

GL CODE
1414111113
1414111111
1414111115
1414111117
1414111112
1414111118
1414111119
1414111114

ACCRUED LIABILITIES
SALARY AND WAGES PAYABLE-2
UNPAID SALARIES
EOBI PAYABLE
SOCIAL SECURITY PAYABLE
TELEPHONE BILL PAYABLE
AUDIT FEE PAYABLE
INCOME TAX P/A
SALARY AND WAGES PAYABLE
TOTAL- ACCRUED EXPENSES

GL CODE
1414141155
1414141140
1414141143
1414141150
1414141147
1414141153

OTHER LIABILITIES
SALES TAX WITHELD
S.TAX WITHHELD DIGITECH DIGITAL TECHNOLOGY (UN REG)
S.TAX WITHHELD MAQBOOL & SONS (UNREGISTERED)
S.TAX WITHHELD MADINA MILL STORE (UN REG)
S.TAX WITHHELD ELECTRIC & ELECTRIC CONCERN (UN REG)
S.TAX WITHHELD UNIQUE DRAWING & STATIONER (UN REG)
S.TAX WITHHELD HAIDER COMPUTER & STATIONER (UN REG)

600,866
160,493
3,240
17,496
25,978
75,000
(35,408)
672,057
1,519,722

615
6650
11,686
650
193
5,958

1414141161
1414141158
1414141141
1414141152
1414141163
1414141154
1414141119
1414141128
1414141145
1414141139
1414141142
1414141159
1414141149
1414141160
1414141116
1414141156
1414141122
1414141148
1414141162
1414141131
1414141115
1414141124
1414141114
1414141135
1414141146
1414141136
1414141113
1414141123
1414141157
1414141144
1414141114
1414141117
1414141118
1414141151

S.TAX WITHHELD INTERA ENERGY SOLUTIONS


S.TAX WITHHELD SHAKEEL TRADERS (UN REG)
S.TAX WITHHELD PIONEER ELECTRIC COMPANY (UN REG)
S.TAX WITHHELD NEW DIGITAL COMPUTER SERVICES (UN REG
S.TAX WITHHELD COMFORT HOUSE
S.TAX WITHHELD HAFIZ INDUSTRIAL STORE (UN REG)
S.TAX WITHHELD-ORIENT ENERGY SYSTEMS (PVT) LTD
S.TAX WORLD LINK (UNREGISTER)
S.TAX WITHHELD HAFIZ ELECTRIC CONCERN (UN REG)
S.TAX WITHHELD ANJUM MILL STORE (UNREGISTERED)
S.TAX WITHHELD PAKISTAN CHAIN STORE ( UN REG)
S.TAX WITHHELD B.M CORPORATION
S.TAX WITHHELD JAVAID ANTI FIRE CORPORATION (UN REG)
S.TAX WITHHELD JAWAD TRADERS (UN REG)
S.TAX WITHHELD-JUBILEE GENERAL INSURANCE COMPANY LT
S.TAX WITHHELD BILAL TRADERS
S.TAX WITHHELD- SALEEM PLASTIC
S.TAX WITHHELD HAMZA INDUSTRIAL STORE (UN REG)
S.TAX WITHHELD MATADOR TECHNICAL SYSTEMS (UN REG)
S.TAX WITHHELD FAST CABLES LTD
S.TAX WITHHELD-HABIB INSURANCE COMPANY LTD
S.TAX WITHHELD- S.N INDUSTRIAL CORPORATION
S.TAX WITHHELD-PREMIER INSURANCE LTD
S.TAX W.H POLICE FOUJI GENERAL STORE (UN REG.)
S.TAX WITHHELD NAFEES BOOK DEPOT & STATIONERS
S.TAX W.HELD AL RAZIQ TRADERS (UNREGISTER)
S.TAX WITHHELD-BEHRAM TEHMURAS KAKALIA
S.TAX WITHHELD SUPERIOR THREAD
S.TAX WITHHELD PAK DIAMOND INDUSTRIAL SALE
S.TAX WITHHELD TAIMOOR TRADERS (UN REG)
S.TAX WITHHELD-PREMIER INSURANCE LTD
S.TAX WITHHELD-IGI INSURANCE LTD
S.TAX WITHHELD- ABCO TECHNICAL (PVT.) LTD
S.TAX WITHHELD ITTFAQ STEEL CORPORATION (UN REG)
TOTAL- SALES TAX WITHHELD

GL CODE
1414121174
1414121169
1414121198
1414121115
1414121114
1414121166
1414121170
1414121171
1414121181

WITHHOLDING INCOME TAXES PAYABLE


W.H.T P/A IDEAL SPINNING MILLS LTD
W.H.T P/A SH. WILAYAT AHMED & SONS\
W.H.T P/A ITTFAQ STEEL CORPORATION
W.H.T P/A NEW DIGITAL COMPUTER SERVICES
W.H.T P/A B.M CORPORATION
W.H.T P/A NEW ALLIED INDUSTRIES
W.H.T P/A ISHTIAQ STEEL INDUSTRY
W.H.T P/A MASOOD FAROOQ INDUSTRIES
W.H.T P/A GLOBAL PEST MANAGEMENT & FUMIGATION SERVI

3,862
182
2,650
5,780
1,090
11,218
461
13,747
2,796
2,653
57
8,661
1,287
148
2,428
1,462
3,633
901
-4
-1
(990)
0
5,155
5,071
1,151
2
9,690
2,525
7,234
(13)
(264)
(1,226)
251
117,349

5,616
59
1
97
2
145,600
3,168
3,430

1414121155 W.H.T P/A STAR COMPUTER & STATIONERY

1414121213 W.H.T P/A FINE BOOKS


1414121118 W.H.T P/A PIONEER ELECTRIC COMPANY

1414121183
1414121184
1414121203
1414121162
1414121112
1414121113
1414121159
1414121153
1414121160

W.H.T P/A MAKKAH AUTO CAR


W.H.T P/A SUPERIOR THREAD
W.H.T P/A DIGITECH DIGITAL TECHNOLOGY
W.H.T P/A FINE OFFICE PRODUCTS
W.H.T P/A FAZAL ENTERPRISES
W.H.T P/A PAKASIA MILL STORE
W.H.T P/A SHAHEEN PLASTIC
W.H.T P/A AB & CO
W.H.T P/A TYRE HOUSE

TOTAL-WITHHOLDING INCOME TAXES PAYABLE

-224
447
-1
1,190
4,380
145
224
85
1
4,183
1,246
1,080
170,729
288,078

GL CODE
1414131112

OTHERS
BLUECHIP TRAVEL & TOURS

TOTAL- OTHER LIABILITIES


GRAND TOTAL- OTHER LIABILITIES

GL CODE
2913111158
2913111140
2913111127
2913111161
2913111119
2913111200
2913111163
2913111171
2913111181
2913111182
2913111125
2913111128
2913111138
2913111129
2913111135
2913111130
2913111122
2913111144
2913111133
2913111145

ADVANCES FROM CUSTOMERS


LOCAL
MUHAMMAD WASEEM SHAHZAD
BILAL RICE TRADERS
FAISAL RICE TRADERS
YASIR & CO
NAVEED & CO - C/O HAFIZ SB MUREDKE
IRFAN YASIN RICE BROKER
USMANI COMMISSION SHOP
AL WAHAB RICE TRADERS
ATLAS RICE MILL (KAMOKI)
SM ENTERPRISES - LAHORE.
MEHERBAN & COMPANY
MIAN ABDUL SATTAR & CO
SAVOUR RICE MILLS
KISAN RICE TRADERS
SOOFI PAK BASMATI
ENGRO EXIMP (RICE INDUSTERIES )
SUPER RICE KAMOKE
IHSAN RASHEED
MUSHTAQ C/O AJMAL
Shahid & Co.(Rawalpandi)

311,133

311,133
599,211

176
22,002
4,149
1,485
1,805,831

1,276,988
0
2,102
1
723,121
17,415
2,231
37,965
34
6,644
4,323
41
2,657
328

2913131286
2913131276
2913131194
2913131174
2913131220
2913131219
2913131158
2913131181
2913131244
2913131186
2913131131
2913131267
2913131274
2913131216
2913131283
2913131159
2913131255
2913131192
2913131279
2913131239
2913131198
2913131185
2913131268
2913131254
2913131236
2913131201
2913131157
2913131258
2913131272
2913131243
2913131275
2913131261
1413171122

NOORI TRADERS
IJAZ KARYANA STORE
KABIR TRADING COMPANY
SHAHZAD & CO (HAFIZABAD)
TARIQ SAEED BUTT
MUNIR AHMAD
K.P.A TRADERS
GORYA BROTHERS (MURIDKE)
IHSAN BUTT
SHIEKH NAJEEB ULLAH
ASIF YOUSAF & CO.
MUHAMMAD FAROOQ JHANG
JAVAID SULTAN FSD
AFTAB FEED MILLS
SHAHID
SHEIKH ALLAH DITTA
MIAN SALAHUDDIN JARANWALA
AL REHMAN RICE TRADERS KAMOKI
ZEESHAN TRADERS KAMONKI
SHEIKH ASHRAF (FSD)
HYDARABAD RICE TRADERS
FAHAD RICE CORPORATION
BAHI BAHI RICE MILL
QARI TAYYAB
FURQAN RICE TRADERS
RAI COMMISSION SHOP JALPUR BHATTIAN
SALEEM RAZA
AL JANNAT RICE TRADERS
SHAHID RICE STORE
HAJI GHULAM QADIR & SONS
HAFIZ RICE MILL
RICE KING RICE
CHAUDHARY CORPORATION
TOTAL- LOCAL

FOREIGN
GL CODE
2913121111 NOOR ASIA GENERAL TRADING CO. SHARJAH
TOTAL- FOREIGN
GRAND TOTAL- ADVANCES FROM CUSTOMERS
SHORT TERM FINANCING
GL CODE
FROM FINANCIAL INSTITUTIONS
1411111111 BANK ALFLAH CF-RICE PLEDGE LOAN A/C # 01130024

5,739
6,209
2,025
4,796
2,184
9,008
837
2,562
364,229
653,833
62,452
2,125
1
24,742
5,665
223,001
3
13,198
5,700
19,000
0
317,297
1,700
3,187
704
3,602
16,383
1,160,001
525
1,662
3,650
359,835
648

7,183,996

0
0

7,183,996

117,596,983

TOTAL-FROM FINANCIAL INSTITUTIONS

117,596,983

FROM ASSOCIATES

GL CODE

TOTAL-FROM ASSOCIATED

GRAND TOTAL- SHORT TERM BORROWINGS

GL CODE

35,549,870

TOTAL- LAND
GL CODE
BUILDING
2111121113 PORTABLE HOUSE
2111121114 GODOWNS,BOUNDRY WALL & PADDY PALTE FORM
2111121111 BUILDING-OWNED

35,549,870

2,117,000
19,525,202
70,296,752

TOTAL- BUILDINGS

91,938,954

PLANT AND MACHINERY


MACHINERY STRUCTURE
RUCE PARBOILING PLANT 32-TON
HEAT EXCHANGER
PADDY DRIER COMPLETE UNIT
SCREW CONVERYER & BUCKET ELEVATORS
BOILER WITH HUSK ELEVATOR
Water R/O plant

150,034,941
8,239,338
290,000
152,200
767,800
620,000
4,629,778

TOTAL- PLANT AND MACHINERY


GL CODE
COMPUTERS AND MOBILE PHONES
2111141111
COMPUTER & ACCESSORIES
2111141115 REMISE SOFTWARE
TOTAL- COMPUTERS AND MOBILES
GL CODE
2111151111
2111151112

#REF!

PROPERTY, PLANT & EQUIPMENTS


LAND

2111111111 LAND-OWNED

GL CODE
2111131143
2111131157
2111131155
2111131136
2111131139
2111131135
2111131156

317,754,295

GENERATORS
GENERATOR -C400 D5 KVA PR
GENERATOR 550 KVA
TOTAL-GENEATORS

164,734,057

2,223,199
650,000
2,873,199

4,250,000
6,200,000
10,450,000

GL CODE
2111161130
2111161111
2111161132
2111161121
2111161112

ELECTRIC EQUIPMENTS
AC SPLIT 1.5 TON
ELECTRIC EQUIPMENTS
SYNCHRONIZING PANEL
LIGHTS
UPS
TOTAL- ELECTRIC EQUIPMENTS

GL CODE
2111171116

OFFICE EQUIPMENTS
OFFICE EQUIPMENT
TOTAL- OFFICE EQUIPMENTS

GL CODE
2111181111

ELECTRIC INSTALLATIONS
ELECTRIC CABLES & INSTALATION
TOTAL- ELECTRIC INSTALLATIONS

GL CODE
2111191111

FURNITURE & FIXTURES


FURNITURE & FIXTURE
TOTAL- FURNITURE & FIXTURES

GL CODE
2111201111
2111201117

TOOLS AND EQUIPMENTS


TOOLS AND EQUIPMENT
Walki Talki set
TOTAL- TOOLS AND EQUIPMENTS

GL CODE
2111221118
2111221113
2111221131
2111221130
2111221119
2111221132
2111221121
2111221111
2111221120
2111221129
2111221123
2111221112
2111221127
2111221128
2111221116
2111221126
2111221124

VEHICLES
SUZUKI MEHRAN SB308 VXR 796 CC- LED-11-3067
CYCLES
AUDI A5 SPORTBACK 1.8TFSI,-YS 300
BMW 3161 LIMOUSINE RHD 4 CYLINDERS 1590 CC
SUZUKI MOTORCYCLE 150 CC - LEM-11A-7200
COROLLA GLI 488W 1299CC WK-620
TRACTOR
HONDA CIVIC- LED-11-900
SHEHZORE LES-3222
HONDA CD 70
SUZUKI BALENO LRU-4274
COROLLA XLI ( WHITE )
CULTUS VXR EURO II-MODEL 2012, REF# LEE-12-5107
POWER VAN RHD ( 1300 CC) LEA-13-2939
HINO TRUCK DUTRO
COROLLA XLI 488W 1299CC LED-12-2588
TOYOTA COROLLA FS-400

161,995
15,184,509
1,100,000
390,000
18,000
16,854,504

217,979
217,979

1,158,708
1,158,708

796,729
796,729

513,416
91,000
604,416

596,560
12,100
7,582,484
7,297,828
136,101
1,738,274
546,927
2,093,855
839,000
69,180
460,000
1,426,288
989,350
1,104,334
2,530,800
1,528,890
450,000

2111221117 SUZUKI BOLAN


TOTAL- VEHICLES
GL CODE
2111261117
2111261112
2111261113
2111261114
2111261115
2111261116

GENERAL ASSETS
JUTE TWIN
TARPALS
TENTS
WATER TANK
PLATES
JUTE BAGS
TOTAL- GENERAL ASSETS

682,000
30,083,971

1,800
2,149,558
61,660
485,000
1,395,025
9,933,000

14,026,043

GRAND TOTAL- OTHER ASSETS


GRAND TOTAL- PROPERTY, PLANT & EQUIPMENT

GL CODE
2112111117
2112111116
2112111114
2112111121
2112111119
2112111118
2112111113
2112111115
2112111120
2112111123
2112111112

ACCUMULATED DEPRECEIATION
ACCUM-DEPRECIATION ON TOOLS & EQUIPMENT
ACCUM-DEPRECIATION ON COMPUTER & IT INSTALATION
ACCUM-DEPRECIATION ON ELECTRIC EQUIPMENT
ACCUM DEPRECIATION - PACKING AND OTHER
ACCUM-DEPRECIATION ON ARMS & AMMUNITION
ACCUM-DEPRECIATION ON FURNITURE & FIXTURE
ACCUM-DEPRECIATION ON PLANT & MACHINERY
ACCUM-DEPRECIATION ON OFFICE EQUIPMENT
ACCUM DEPRECIATION-VEHICLES
ACCUM DEPRECIATION OF GENERATOR
ACCUM-DEPRECIATION ON BUILDING
TOTAL- ACCUMULATED DEPRECIATION

#REF!

144,752
1,644,685
4,426,467
3,474,254
57,492
390,187
25,314,477
62,884
9,117,492
1,065,688
10,163,265
45,698,378

GL CODE
CWIP PLANT & MACHINERY
2412111114 LC#131NSU005404757 RUCE PARBOILING PLANT 32-TON
2412111111 C.W.I.P MACHINERY
TOTAL- CWIP PLANT & MACHINERY
GRAND TOTAL- CAPITAL WPRK IN PROGRESS
GL CODE
2711111114
2711111115
2711111111

LONG TERM DEPOSITS


ORBIT FOOD & BEVEARAGES COMPANY
MOBILINK SEPOSIT
SECURITY WITH WAPDA

#REF!

1,500
4,500
2,871,041

GRAND TOTAL- LONG TERM DEPOSITS


STOCK IN TRADE
GL CODE
RAW MATERIAL
2911111131
STOCK OF PADDY
TOTAL- RAW MATERIAL
GL CODE
2911131111

WORK IN PROCESS
WORK IN PROCESS- RICE
TOTAL- WORK IN PROCESS

GL CODE FINISHED GOODS


2911121122
STOCK OF HEAD RICE

2,877,041

461,258,103

2,082,677
2,082,677

461,258,103

GRAND TOTAL- STOCK IN TRDAE

2912111116
2912111112
2912111114
2912111121
2111261116
2111261112
2912111123

STORE & SPARES PACKING


STORE & SPARES ACCESSORIES
STORE & SPARES STATIONERY
STORE & SPARES OIL & LUBRICANTS
JUTE BAGS
TARPALS
STORE & SPARES COMMERCIAL

GL CODE
2912111118
2912111120
2912111115
2912111119
2912111117

STORES, SPARES & LOOSE TOOLS


STORE & SPARES GENERAL
STORE & SPARES TOOLS
STORE & SPARES ELECTRIC/ELECTRONICS
STORE & SPARES CONSTRUCTION/BUILDING
STORE & SPARES GENERAL HARD WARE

TOTAL -STORES & SPARES

GL CODE
2913111126
2913111119
2913111111
2913111192

TRADE DEBTORS
LOCAL
ISHAQ SIZING
NAVEED & CO - C/O HAFIZ SB MUREDKE
AMIR RICE TRADERS
KOUSAR RICE MILLS

4,000,835
2,292,461
147,697
75,947
2,149,558
9,933,000
59,599
18,659,097

1,233,167
90,947
1,917,895
341,163
184,636
3,767,808
22,426,905

93,645
6,969,995
1

2913111163
2913111171
2913111184
2913111141
2913111190
2913111125
2913111136
2913111115
2913131224
2913131159
2913131162
2913131198
2913131161
2913131265
2913131278
2913131140
2913131237
2913131271
2913131280
2913131217
2913131252

USMANI COMMISSION SHOP


AL WAHAB RICE TRADERS
RANA ASHFAQ
KHALASA COMMISSION SHOP
AL SYED TRADERS
MEHERBAN & COMPANY
NADEEM TRADERS
SAFA ENTERPRISES
TARIQ JAVAID
SHEIKH ALLAH DITTA
NEW SHAHID USMANI TRADER
HYDARABAD RICE TRADERS
QAZAFI TRADERS FAISALABAD
HAIDER ALI RICE DEALER
HAJI MAQSOOD BASRA
DYNASTY RESTAURANT FSD.
LAHORE RICE TRADERS
RICE WORLD INTERNATIONAL
GUARD RICE MILLS
KHALID & CO
SHOUKAT ALI (MARDAN)
TOTAL- LOCAL DEBTOTS

GL CODE
2913121112
2913121113
2913121111
2913121118

1
197,988
20
23,893
306
915
943
3,657
4,061
13,469
18,118
10,611
286,665
8,329
3
3,639
114,455
1,273
7,751,988

FOREIGN
AL-MUHAIDIB FOODS CO.
OASIS LOGISTICS LLC
NOOR ASIA GENERAL TRADING CO. SHARJAH
KUSHA INC. (USA)
TOTAL- FOREIGN DEBTORS

GRAND TOTAL- TRADE DEBTORS

GL CODE
2914111111
2914121210
2914121257
2914121171
2914121230
2914121134
2914121163
2914121137

ADVANCES, DEPOSITS, PREPAYMENTS


ADVANCES TO EMPLOYEES
LIAQAT ALI
SHAN MASIH
WALAIT KHAN CODE#112
FAIZAN AHMED OPERATOR
MUHAMMAD NASIR GAWALA -COD# 210
WAHAD QAMAR
KAMRAN MILL OPERATOR
AMIR JAVID

178,227
42,959
1,320,254
623,929
2,165,369

#REF!

3,000
0
2,000
0
0
2,000
0
0

2914121142
2914121125
2914121244
2914121144
2914121141
2914121121
2914121203
2914121149
2914121113
2914121242
2914121221
2914121201
2914121235
2914121193
2914121150
2914121207
2914121114
2914121138
2914121156
2914121198
2914121226
2914121232
2914121186
2914121115
2914121116
2914121224
2914121124
2914121123
2914121127
2914121227
2914121140
2914121152
2914121215
2914121191
2914121251
2914121112
2914121246
2914121245
2914121253
2914121119
2914121165
2914121188
2914121180
2914121214
2914121217
2914121208
2914121158

SHABBIR AHMED
ABU BAKAR
ILYAS MASIH CODE #235
GHAFOOR IQBAL
AYOUB RAHEEM
MUJHAD HUSSAIN - COOK
FAKHAR ABBAS
MUHAMMAD ADEEL SHEIKH
SAQIB ALI
IMRAN (WELDER)
OWAN SHAH
ARSHAD ELECTRICIAN
NAJAM UL HASSAN (GODOWN)
IRFAN MASIH
NAZIR AHMED - RICE
SAJID MAHMOOD COOK
MAQSOOD AHMED -ADMIN
MUHAMMAD ASLAM UMAR (OPERATOR/ELECTRICIAN)
HABIB HUSSAIN
MUSHTAQ AHMED S.G
IMRAN MASIH #200
ABDUL REHMAN GARDNER CODE # 220
MUHAMMAD AZAM
MUHAMMAD IDREES-MILLER
MUHAMMAD SARWAR ( WELDER)
MUHAMMAD YASIN #0199
TAHIR MEHMOOD
IFTKHAR AHMAD
SADAQAT IQBAL
QAISER ALI (GARDENER)#180
ALLAH DITA
MUDASSER IQBAL
ANWAR UL HAQ (Security officer) Code#201
DITA MASIH
SYED ALI MOHSIN(TRAINEE)
GHULAM MUSTAFA TABASUM
LIAQAT ALI S.G (CODE # 173)
ARIF ALI (S.G) CODE#100
RIAZ HUSSAIN S.G S/O SARDAR
MUHAMMAD ALI BURIRO
SYED NAJAM UL HASSAN (ADMIN)
SHAHID MEHMOOD
QAMAR SHEHZAD LAB
KASHAN -CIVIL ENG
IFTIKHAR HUSSAIN KHAN CODE#205
FARHAN MASIH HELPER
BASHIR AHMED (SG)

2,650
0
1,500
0
135,935
0
875
11,535
4,800
2,000
0
0
2,000
3,700
0
1,500
0
2,000
2,000
7,950
2,500
4,000
0
0
62
0
0
0
699
1,500
3,650
812
15,850
0
2,000
0
3,000
1,500
2,500
24,625
0
40,886
0
0
0
0
0

2914121247
2914121249
2914121120
2914121239
2914121237

MUHAMMAD ANWAR (CASHIER) #237


MUHAMMAD SALEEM(WORKSHOP)
TARIQ SWEEPER
NAZIR AHMAD - PLANT HELPER
SHAFAQAT SARWAR
TOTAL- ADVANCES TO EMPLOYEES

GL CODE
1413111167
1413111227
1413111220
1413111196
1413111128
1413111125
1413111190
1413111188
1413111169
1413111224
1413111223
1413111112
1413111229
1413111182

ADVANCES TO SUPPLIERS
SUPPLIERS FOR STORES
ORIENT ENERGY SYSTEMS (PVT) LTD
NEW SHALIMAR INDUSTRIES (PVT) LTD
SALEEM PLASTIC
SHAHEEN PLASTIC
MUHAMMAD ISHTIAQ PERVAIZ
PIONEER CEMENT LIMITED
MAKKAH AUTO CAR
METRO-HABIB CASH & CARRY PAKISTAN (PVT) LTD
MICRO TECH
USMAN TRADERS
IDEAL CORPORATION
MADINA MILL STORE
UNI-COMMERCE (PVT) LTD
SUPPLY CHAIN BUSINESS SOLUTIONS

1413181120 SCL PAKISTAN


1413201167 G.M. AUTOS

1413201137 TOTAL QUALITY SYSTEMS


TOTAL-SUPPLIERS FOR STORES
GL CODE
1413131116

SUPPLIERS FOR INSURANCE


ADAMJEE INSURANCE CO LTD.
TOTAL- SUPPLIERS FOR INSURANCE

GL CODE
1413141158
1413141224
1413141235
1413141139
1413141114
1413141223
1413141167
1413141169
1413141184
1413141141

SUPPLIERS FOR PADDY


MUHAMMAD ASGHAR ALI
ZAFAR ABBAS BHATTI & ADNAN ZAFAR
MUHAMMAD RIAZ - SAYAL MOR
HUSNAIN COMMISSION SHOP (KHAN KAH DOGRA)
BILAL RICE CORPORATION
MUHAMMAD RIAZ - MURIDKE
ABID ALI (PINDIBHUTIAN HAFAZABAD)
MUHAMMAD USMAN (ADA PANWA)
AL MAKKAH TRADING COMPANY
BILAL TRADERS (WANDO)

9,250
2,000
0
-1200
(1)
299,078

0
6,378
3,670
0
0
0
0
0
1
0
1
0
1
2,400
1
1
40,000
52,453

703,395
1
1
0
1
1
1
1
0
3

TOTAL-SUPPLIERS FOR PADDY


GL CODE
1413151142
1413151111
1413151115
1413151117

GL CODE
2914131111

SUPPLIERS FOR RICE


SINDHU TRADERS STOCKIST
REEM RICE MILLS (PVT) LTD
KHALID MEHMOOD SHERAZI
MUHAMMAD IQBAL ANJUM

14,876,508

TOTAL- ADVANCES TO SUPPLIERS

15,632,365

PREPAYMENTS
PREPAID INSURANCE
Preoaid property tax
TOTAL- PREPAYMENTS

GL CODE OTHER RECEIVABLES


2915111111 SALES TAX RECEIVABLES
1212111111
IDEAL FIBERS (PVT.) LTD
1412111121 IDEAL SPINNING MILL LTD (BOILER)
2913121120 IDEAL OVERSEAS GENERAL TRADING
TOTAL- SALES TAX RECEIVABLES

GL CODE
2915121119
2915121117
2915121118
2915121123
2915121120
2915121126
2915121111
2915121127
2915121116
2915121121
2915121122
2915121125

8,326,681
224,506
6,325,235
86

TOTAL-SUPPLIERS FOR RICE

GRAND TOTAL- ADVANCES, DEPOSITS & PREPAYMENTS

GL CODE
2915151111

703,404

INCOME TAX RECEIVABLES


INCOME TAX RECEIVABLE
TOTAL- INCOME TAX RECEIVABLE
W.H.T DEDUCTED AT SOURCE
W.H.T HELD WITH UNITED BANK LTD
W.H.T HELD WITH ALLIED BANK A/C#00100050919-001-1
W.H.T HELD WITH MCB A.C#0523740551000085
W.H.T HELD- BANK AL-HABIB A/C# 0122-0081-000475-01-9
W.H.T HELD WIHT ALLIED -IFL A/C # 0010005091970028
W.H.T ON ELECTRIC BILLS
W.H.T HELD WITH BANK ALFALAH(3992)
W.H.T HELD WITH BOP-4524-5
W.H.T ON REGISTRATION OF VEHICLES
W.H.T ON MOBILE # 03003408884
W.H.T ON MOBILE # 03003404555
W.H.TAX ON IMPORT OF MACHINERY

145,946
316,056
462,002
16,393,445

2,112,020
26,530
30,600
15,600
72,730
2,112,020

4,230,154

4,230,154

3,570
7,399
2,850
4,950
10,275
698,199
43,010
4,500
1,750
216
1,979
383,229

2915121112 W.H.T ON TELEPHONE BILLS


2915121115 W.H.T ON EXPORTS
TOTAL- WHT DEDUCTED AT SOURCE

GRAND TOTAL- OTHER RECEIVABLE


CASH AND BANK BALANCES
CASH IN HAND
GL CODE
2916111111 CASH AT SITE
2916111112 PETTY CASH
2916111118 CASH IN HAND ANWAR (S.O)
TROTAL- CASH IN HAND
GL CODE
2916121116
2916121113
2916121121
2916121117
2916121125
2916121132
2916121129
2916121128
2916121130
2916121115
2916121112
2916121114
2916121118
2916121124
2916121131

GL CODE
3111111138
3111111124
3111111137
3111111126
3711171111

CASH AT BANK
NATIONAL BANK OF PAKISTAN A/C# 237-5
MCB FSD A/C# 0523740551000085
ALLIED BANK LTD A/C#001-000509197-001-1
BANK ALFALAH KARACHI A/C# 0005-01359118
BANK ALFALAH A/C# 01032811
THE BANK OF KHYBER A/C # 485-00-8
UNITED BANK LTD. A/C 201811461
HABIB METROPOLITAN BANK LTD. A/C # 20311-181851
BANK AL HABIB LIMITED A/C # 0122-0081-000475-01-9
MCB LHR( A/C#0524114061000500)
BANK ALFALAH A/C# 0054- 01003992
BOP-AC#4524-5
HSBC A/C# 007-011034-001
ALLIED BANK LTD(IFL,38KM,SHEIKHUPURA RD FSD)
SONERI BANK A/C#008-02012193129

9,140
2,606,082
3,777,149

#REF!

3,503,450
8,350
10,000
3,521,800

223,734
15,995
1,318,240
3,635
2,052
22,963
824,728
80,983
195,711
18,926
1,084,175
85,350
40,535
13,581

TOTAL- CASH AT BANK

3,930,608

GRAND TOTAL- CASH & BANK BALANCES

7,452,408

SALES
EXPORT SALES
EXPORT SALES-AL KARAM & AL ZAIN BRAND
7,411,887
EXPORT SALES AL MUDYAF LONG GRAIN WHITE
89,292,579
EXPORT SALES SUPER KARNAL BASMATI PROCESSED WHITE 50,278,693
EXPORT SALES KARWAN BRAND
21,385,588
FOREIGN EXCHANGE GAIN/ LOSS
9,390,367
TOTAL- EXPORT SALES
177,759,114

GL CODE
3112111127
3112111112
3112111113
3112111126

LOCAL SALES
LOCAL SALES SUPER KERNAL
LOCAL SALES - SUPER KARNAL BASMATI WAND RAW
LOCAL SALES SUPER KARNAL BASMATI PROCESSED
LOCAL SALES SUPER BASMATI DOUBLE POLISHED WAND
LOCAL SALES IDEAL SUPER KARNAL
TOTAL- LOCAL SALES SUPER KERNAL

GL CODE
LOCAL SALES - B-385
3112121113 LOCAL SALES IDEAL CLASSIC
3112121111 LOCAL SALES B-385 RAW
3112121112 LOCAL SALES B-385 WHITE PROCESSED
TOTAL- LOCAL SALES B-385
GL CODE
LOCAL SALES - PK-386
3112131111 LOCAL SALES PK-386 RAW
3112131112 LOCAL SALES PK-386 PROCESSED
3112131117 LOCAL SALES - PK 386 PROCESSED STEAM
TOTAL- LOCAL SALES PK-386
GL CODE
3112141117
3112141112
3112141119
3112141120
3112141111
3112141116

LOCAL SALES - C 1121


LOCAL SALES - C-1121 PROCESSED STEAM
LOCAL SALE C-1121 WHITE PROCESSED
LOCAL SALES - C-1121 RAW STEAM
LOCAL SALES - C-1121 RAW WHITE
LOCAL SALE C-1121 PARBOILED RAW
LOCAL SALES - C-1121 PROCESSED PARBOILED
TOTAL- LOCAL SALES C-1121

GL CODE
LOCAL SALES - KS 282
3112151116 LOCAL SALES - KS 282 PROCESSED STEAM
TOTAL- LOCAL SALES KS-282
GL CODE
LOCAL SALES- RICE SUPREE
3112161120 LOCAL SALES -RICE SUPREE WHITE
TOTAL- LOCAL SALES RICE SUPREE
GL CODE
LOCAL SALES- BRANDS & MIXED VARIETIES
3112191122 LOCAL SALES-BLEND SUPER WHITE+PK-386 (70%+30%) BLEN
3112191115 LOCAL SALES - IDEAL ROZANA
TOTAL-LOCAL SALES- BRANDS & MIXED VARIETIES

10,327,525
12,467,580
112,792,590
1,157,640

136,745,335

704,520
1,132,970
1,356,088
3,193,578

142,387,284
1,357,900
3,376,988
147,122,172

27,445,883
48,881
22,742,864
403,178
21,533,623
2,804,476
74,978,905

460,434
460,434

18,995,837
18,995,837

233,616
1,816,419
2,050,035

TOTAL- LOCAL SALES HEAD RICE

GL CODE
3113111116
3113111112
3113111130
3113111115
3113111111
3113111117
3113111119
3113111143
3113111124
3113111120
3113111125

LOCAL SALES BY-PRODUCTS


LOCAL SALES BY-PRODUCTS - SUPER
LOCAL SALES SUPER SHORT GRAIN PROCESSED
LOCAL SALES SUPER B-l l RAW
LOCAL SALES SUPER SHERVILLED BROWN
LOCAL SALES SUPER REJECTION
LOCAL SALES SUPER B-l RAW
LOCAL SALES OF B-III MIX
LOCAL SALES SUPER B-I PROCESSED
LOCAL SALES -SUPER REJECTION PROCESSED
LOCAL SALES SUPER SHERVELLED
LOCAL SALES SUPER B-II PROCESSED
LOCAL SALES SUPER REJECTION + PK-386

TOTAL-LOCAL SALES BY-PRODUCTS - SUPER


GL CODE
3113171142
3113131114
3113131123
3113131121
3113171141
3113131112
3113171136
3113131120
3113131116
3113171130
3113131119
3113131117

LOCAL SALES BY-PRODUCT - PK-386


LOCAL SALES PK-386 PARBOILED PROCESSED SHORT GRAIN
LOCAL SALES PK-386 REJECTION
LOCAL SALES OF PK-386 B-l l l NAKU
LOCAL SALES PK-386 B-II PROCESSED
LOCAL SALES PK-386 PARBOILED PROCESSED REJECTION
LOCAL SALES PK-386 B-II
LOCAL SALES PK-386 SHORT GRAIN PROCESSED STEAM
LOCAL SALES PK-386 SHORT GRAIN PROCESSED
LOCAL SALES PK-386 SHORT GRAIN
LOCAL SALES PK-386 B-I STEAM PROCESSED
LOCAL SALES PK-386 B-I PROCESSED
LOCAL SALES PK-386 B-III GOLI

TOTAL-LOCAL SALES BY-PRODUCT - PK-386


GL CODE

383,546,296

3,106,125
4,968,968
780,876
8,857,336
1,358,783
57,661
7,760,532
4,751,870
635,302
15,134,365
126,368
47,538,186

171,640
2,372,100
1,356,369
3,014,051
533,520
7,856,088
188,719
1,625,732
1,602,825
206,663
3,129,524
1,046,925
23,104,156

LOCAL SALES BY-PRODUCT - C-1121

3113141152 LOCAL SALES C-1121 B-I STEAM RAW

3,115,501

3113141164 LOCAL SALES C-1121 REJECTION STEAM PROCESSED

2,078,408

3113141117 LOCAL SALES C-1121 PARBOILED SHORT GRAIN

372,300

3113141145 LOCAL SALES C-1121 B-II PARBOILED PROCESSED

571,285

3113141160 LOCAL SALES C-1121 B-II STEAM PROCESSED


3113141161 LOCAL SALES C-1121 B-III NAKKU STEAM PROCESSED
3113141163 LOCAL SALES C-1121 SHORT GRAIN STEAM PROCESSED

8,533,571
10,246
10,230,299

3113141122 LOCAL SALES C-1121 B-III NAKKU

193,884

3113141118 LOCAL SALES C-1121 PARBOILED B-l RAW

757,399

3113141120 LOCAL SALES C-1121 PARBOILED REJECTION

152,922

3113141153 LOCAL SALES-C-1121 B-II STEAM RAW

1,178,888

3113141144 LOCAL SALES C-1121 B-I PARBOILED PROCESSED


3113141155 LOCAL SALES-C-1121 B-III NAKKU STEAM RAW
3113141159 LOCAL SALES-C-1121 B-I STEAM PROCESSED
3113141150 LOCAL SALES C-1121 REJECTION PARBOILED PROCESSED

TOTAL-LOCAL SALES BY-PRODUCT - C-1121


GL CODE
3113191114
3113191117
3113191111
3113191113
3113191128

LOCAL SALES MIX BY PRODUCTS


LOCAL SALES OF POWDER
LOCAL SALES - MIX SUPER FINE B-I + PK 386 B-I
LOCAL SALES OF HUSK
LOCAL SALES OF TRASH
LOCAL SALES POWDER PARBOILED
TOTAL-LOCAL SALES MIX BY PRODUCTS
TOTAL SALES- BY PRODUCTS

OTHER SALES
3114121114 PADDY/ RICE HANDLING INCOME
3114141113 SALE OF PACKING BAGS

GL CODE
2911111114
2911111111
2911111129
2911111113
2911111130

4,397,976
111,081

32,144,039

4,158,088
55,500
900,000
34,335
79,888
5,227,811
108,014,192

496,896
155,667

TOTAL- OTHER SLES

652,563
492,213,051

GRAND TOTAL- SALES

669,972,165

PURCHASES
PADDY PURCHASE
PURCHASE PK-386 PADDY WET
PURCHASE SUPER PADDY-WET
WEIGHT DIFFERENCE ADJUSTMENT FOR PADDY A/C
PURCHASE C-1121 PADDY-WET
TOUCH ON PADDY PURCHASE
TOTAL-PADDY PURCHASE

GL CODE
2911121112
2911121113
2911121120
2911121111

25,725
414,554

RICE PURCHASE
PURCHASE-PK-386 - RICE
PURCHASE-C-1121 - RICE
WEIGHT DIFFERENCE ADJUSTMENT FOR RICE A/C
PURCHASE-SUPER KARNAL BASMATI-RICE

TOTAL-RICE PURCHASE

195,265,776
137,114,386
1,091,903
120,797,894
2,821,139
457,091,098

8,460,898
3,033,100
17,550
17,733,163

29,244,711

GL CODE
3311131111
3311131113
3311131114
3311131117
3311131119
3311131112

STORES & SPARES CONSUMED


STORE & SPARES ACCESSORIES CONSUMED
STORE & SPARES GENERAL HARD WARE CONSUMED
STORE & SPARES GENERAL CONSUMED
STORE & SPARES COMMERCIAL CONSUMED
STORE & SPARES PACKING MATERIAL CONSUMED
STORE & SPARES ELECTRIC/ELECTRONIC CONSUMED
TOTAL-STORES & SPARES CONSUMED

GL CODE
3311151112
3311151113

RAW MATERIAL CONSUMED


RICE CONSUMED
PADDY CONSUMED
TOTAL-RAW MATERIAL CONSUMED

GL CODE
3312111111
3312111112
3312111113

DIRECT EXPENSES
HANDLING CHARGES
PADDY & RICE HANDLING CHARGES(MIXED)
HUSK PRESSING CHARGES
export handling
TOTAL-HANDLING CHARGES

UTILITIES
GL CODE
3312121111 ELECTRICITY
3312121112 Fuel
TOTAL-UTILITIES
OIL AND LUBRICANTS
GL CODE
3312131111
3312131112 OIL AND LUBRICANTS
TOTAL-GENERATOR & FUEL EXPENSES
REPAIRS & MAINTENANCE
GL CODE
3312141111 REPAIRS & MAINTENANCE MACHINERY
3312141112 REPAIRS & MAINTENANCE BUILDING
3312201112 BARDANA REAPIR EXPENSE
TOTAL-REPAIRS & MAINTENANCE
LOCAL FREIGHT
GL CODE
3312151112 FREIGHT EXPENSE LOCAL-RICE
3312151113 FREIGHT EXPENSE LOCAL-STORE
3312151111 FREIGHT EXPENSE LOCAL-PADDY

981,610
212,118
219,891
158,624
4,484,172
202,608
6,259,023

189,770,424
449,968,418
639,738,842

4,616,935
68,200
2,850,443

4,685,135

11,920,640
6,555

11,927,195

645,239

645,239

96,905
287,122
907,059

1,291,086

351,917
278,330
47,100

TOTAL-LOCAL FREIGHT
GL CODE
3312161112
2915131111

INSURANCE
INSURANCE
FEDRAL EXCISE DUTY RECEIVABLE
TOTAL-INSURANCE

SALARY AND WAGES


GL CODE
3312171112 SALARIES AND WAGES-COST
3312171111 SALARIES AND WAGES-COST-2
TOTAL-SALARY AND WAGES
GL CODE
3511321111

BOILER RUNNING EXPENSE


BOILER RUNNING EXPENSE
TOTAL-BOILER RUNNING EXPENSES

GL CODE

BROKERAGE EXPENSES

TOTAL-BROKERAGE EXPENSES
GL CODE
3312221111

DEPRECIATION
DEPRECIATION
TOTAL-DEPRECIATION

GRAND TOTAL- DIRECT EXPENSES

GL CODE
3511121118
3511121111
3511121117
3511121113
3511301111

ADMINISTRATIVE EXPENSES
STAFF SALARY & OTHER BENEFITS
EMPLOYEES OLD-AGE BENEFITS
SALARIES AND WAGES ADMIN-2
SOCIAL SECURITY
SALARIES AND WAGES ADMIN
UNIFORM FOR EMPLOYEES
TOTAL-STAFF SALARY & OTHER BENEFITS

GL CODE

953,627

953,627

2,464,268
3,126,244

5,590,512

834,063
834,063

989,520

12,197,168
12,197,168

39,194,533

38,880
7,361,681
240,102
4,077,076

1,000
11,718,739

POSTAGE & TELEGRAME

3511131111 POSTAGE & TELEGRAME EXPENSES


3511311112

677,347

MOBILE PHONE

3312121112 TELEPHONE EXPENSES

TOTAL-POSTAGE & TELEGRAME

26,656
22,405
308,679

357,740

TRAVELLING & CONVEYANCE ADMIN


GL CODE
3511141113 AUDITOR OUT OF POCKET EXPENSES
3511141111 TRAVELLING AND CONVEYANCE ADMIN
3511141112 VEHICLE R & M LED-12-2588
3511281111
DIRECTOR'S TRAVELLING EXPENSES

1,500
100,430
1,820
9,500

TOTAL-VEHICLE R & M LED-12-2588

113,250

GL CODE
PRINTING & STATIONERY
3511161113 PHOTO COPY EXPENSES
3511161112 PRINTING CHARGES
3511161111 STATIONERY CHARGES

36,118
1,700
157,637

TOTAL-PRINTING & STATIONERY

195,455

GL CODE
INSURANCE
3511191113 INSURANCE
3511191111 MARINE INSURANCE

949,237

117,079

TOTAL-INSURANCE

949,237

GL CODE
LEGAL & PROFESSIONAL CAHRGES
3511201111 LEGAL AND PROFESSIONAL CHARGES
3511201113 PROFESSIONAL TAX

24,570
75,000

TOTAL-LEGAL & PROFESSIONAL CAHRGES


GL CODE
REPAIRS & MAINTANCE
3511221111 REPAIR AND MAINTENANCE
3511171111 COMPUTER REPAIR AND ACCESSORIES
Property tax

99,570

445,488
94,002
316056
539,490

3511151136
3511151146
3511151130
3511151114
3511151121
3511151142
3511151134
3511151138
3511151129
3511151116
3511151115
3511151137
3511151145
3511151113

VEHICLE R/M LEE-12-5107


VEHICLE REPAIR & M COOROLLA GLI, ISL-WK-620
VEHICLE R & M FS-268(LIAQAT)
VEHICLE R & M - LEK-6096 MOTORCYCLE
VEHICLE R & M LES-09-3222
VEHICLE R & M LEA-13-2939
VEHICLE RUNNING & MAINTINANCE
VEHICLE R/M FDA 1984
VEHICLE R & M LED -11- 900
VEHICLE R & M TRACTOR#1600
VEHICLE R & M LE-11-8820 TOYOTA COROLLA XLI
VEHICLE R & M LED-3067
VEHICLE R & M BMW WF-300
VEHICLE R & M LEC-8354- SUZUKI CULTUS

135,247
19,700
16,424
100
14,340
510,856
58,372
112,521
379,584
19,764
754,435
10,890
126,941
174,556

3511151125
3511151147
3511151123
3511151150
3511151132
3511151127
3511151141
3511151143
3511151144

VEHICEL R & M LEE-08-300


VEHICLE R & M AUDI CAR
VEHICLE R & M LED-11-6875
VEHICLE R & M YS-300
VEHICLE R & M HINO TRUCK-LES-12-9548
VEHICEL R & M FS-400
VEHICLE R & M COROLLA GLI, ISL-WK-12-620
VEHICLE R & M LWE 1717 (KASHIF)
VEHICLE R & M FDO 2405 ( LIAQAT ALI)
TOTAL-REPAIRS & MAINTANCE

GL CODE
3511231111
3511231112
3511231113
3511231113

FEE & TAXES


FEE & SUBSCRIPTIONS
AUDIT FEE
SALE TAX Assessment order
SALE TAX EXPENSES

3511241117 FEDRAL EXCISE DUTY EXPENSES

TOTAL-FEE & TAXES


GL CODE
ENTERTAINMENT
3511251111 ENTERTAINMENT EXPENSES
3511291111 DIRECTOR'S ENTERTAINMENT
TOTAL-ENTERTAINMENT
GL CODE
3511331111

DEPRECIATION
DEPRECIATION
Amortization
TOTAL-DEPRECIATION

GL CODE
MISC. EXPENSES
3511241113 NEWS PAPERS & PRIODICALS
3511241116 DEBTORS WRITTEN OFF
3511241112 FUMIGATION
3511241111 MISCELLANEOUS EXPENSES
3511261111 CHARITY & DONATIONS
TOTAL- MISC. EXPENSES
GRAND TOTAL- ADMIN. EXPENSES
SELLING EXPENSES

397,403
73,350
7,500
5,350
7,500
14,340
89,807
12,500
22,320
2,963,800

1,686,341

70,000
2,793,440
687,305
174,949

5,412,035

423,692
1,305,200
1,728,892

5,431,380
5,417

5,431,380

9,934
62,774
64,000
141,939
100
205,939
29,788,235

GL CODE

EXPORT FREIGHT CHARGES

3512141111 EXPORT FREIGHT RICE SEA FREIGHT

1,410,497

3512141112 EXPORT FREIGHT RICE LOCAL

2,600,000

export hanslinggg

TOTAL-EXPORT FREIGHT CHARGES


GL CODE

4,010,497

EXPORT DEVELOPMENT SURCHARGE

3711131111 EXPORT DEVELOPMENT SURCHARGE

TOTAL-EXPORT DEVELOPMENT SURCHARGE


GL CODE
COMMISION ON EXPORT SALES
3312201111 OWN BROKERAGE EXPENSES
3711161111
COMMISSION ON EXPORT SALE
TOTAL-COMMISION ON EXPORT SALES
GRAND TOTAL- SELLING EXPENSES

636,135

636,135

989,520
881,754

1,871,274
6,517,906

FINANCIAL EXPENSES
GL CODE
BANK CHARGES
3711111111
BANK CHARGES
3711111115
FOREIGN BANK CHARGES ON RICE EXPORT
3711111113
MUCCADAM SERVICE CHARGES
TOTAL-BANK CHARGES

2,843,487

GL CODE
3711121118
3711121113
3711121121
3711121112
3711121124

1,569,872
6,765,413
4,229,465
22,426,688
362,080

MARK-UP
MARK-UP ON FAPC-1 (BANK ALFALAH ) OWN
MARK-UP ON SHORT TERM CF-PLEDGE LOAN-BOP
MARK-UP ON FAPC-1 (BOP) OWN
MARK-UP ON SHORT TERM CF-PLEDGE LOAN-ALFALAH
MARK UP ON CF-PLEDGE (UBL)

1,491,374
967,580
384,533

35,353,518
3711121123 MARK-UP ON TERM FINANCE -II BAL
3711121115 MARK-UP ON TERM FINANCE-1
3711121114 MARK-UP ON LTF BOP
TOTAL-MARK-UP
GRAND TOTAL- FINANCIAL EXPENSES

1,354,553
382,085
1,058,486
2,795,124
5,638,611

GL CODE OTHER INCOME


3114141118 DISCOUNTS AND REBATES INCOME
3114141116 GAIN ON SALES OF FIXED ASSETS
3114141117 GAIN ON INSURANCE CLAIM
3114141115 INSURANCE COMMISSION INCOME

474,934
29,778
108,210
16,494

TOTAL- OTHER INCOME

629,416

2,013

25,000,000
20,100,000
102,390,000
2,510,000
25,000,000
25,000,000
200,000,000

5,644,873
5,644,873

205,644,873

13,847,684
10,669,230
7,433,336

31,950,250

(95,030)
510,000
274,602,671
885,000
4,960,000
260,000
10,300,000

291,422,641

291,517,671

323,372,891

486,079,438

0
0
70,627

0
0
0
0
0
326,309
0
14,831
900
0
0
2,860
0
24,400
0
0
0
0
0
23,080
0
13,710
26,800
0
31,320
0
0
0
0
0
0
7,040
0
6,034
0
0
0
1,070
13,545
0
0
0
0
555,000
0
0
0

0
12,210
0
0
181,002
0
0
0
9,870
8,400
100,000
55,661
1
0
0
0
0
58,220
0
0
0
0
0
0
1,275
0
0
0
27,400
0
0
3,826
6,600
0

1
24,837
0
1,606,829

189
0
241
77
163,853
164360

0
0
0
0
0
0
0
0
0
0
0
0
18,190
0
0
0
0
0
0
4
0
0
0
0
0
0
0
0
0
0
0
0
0

0
1
0
0
0
0
0
0
0
0
0
0
0
0
6,035
71,400
0
0
0
5,950
12,070
1
2
0
0
0
0
0
0
0
0
0
0
2
0
0
0
0
0
-

113,655

2
0
52,890
2
0
2
0
1
3,451
0
0
1
0
56,349

311,843
411,883
0
734,000
595,309
0
83,123
58,620
2,194,778

0
2,766,038
0
0
45,000
399
0
96
0
10,000

200,000
8,500
0
3,030,033

5,430,644
114,031
1,290,272

6,834,947
14,000,951

12,280,253
12,280,253

56,045
56,045

1,067,163
107,104
3,240
17,496
15,503
75,000
0
523,266
1,810,263

0
0
0
0

17,118,929

25,447,192
25,415,403
(31,789)
32,437
648

0
0
0
0
0
0
210,800
0
0
0
0
0
0
0
148
0
0
0
0

4
0
0
0
2
0
0
0
0
(264)
(1,226)
0
209,464

44,572
0
0
1
84
19,425
0
0
0

0
1,190
2,100
0
0
85
1
4,183
1,246
0
72,887
282,351
0

282,351

0
22,002
4,149
67,971
0
0
19,224
0
0
0
5,311
17,415
2,231
37,965
34
6,644
4,323
41
2,657
328

(316,860)

7208185
7196879
11306
11954

0
0
2,025
4,796
2,184
9,008
837
2,562
0
0
62,452
0
0
22,011
0
0
0
3,224
0
0
2,327
29,793
0
0
0
0
0
0
0
0
0
0
10,296

6,848,974
7,209,457

341,810

3,095,976
3,095,976
3,437,786

117,596,983

7,208,185

(24,189)

24837

648

117,596,983

295,764,257

#REF!

35,549,870

35,549,870

0
0
70,296,752
70,296,752

150,882,355
0
0
0
0
0
0
150,882,355

2,236,295
0
2,236,295

4,250,000
0
4,250,000

#REF!

0
15,003,259
0
0
0
15,003,259

183,739
183,739

0
-

694,250
-

513,416
0
513,416

596,560
12,100
7,582,484
7,297,828
136,101
1,738,274
546,927
2,093,855
839,000
69,180
460,000
1,426,288
989,350
1,104,334
2,530,800
1,528,890
450,000

682,000
30,083,971

2,149,558

8,124,000

10,273,558
#REF!

127,107
1,108,442
3,693,375
0
0
173,642
17,789,211
24,067
5,019,978
1,065,688
5,878,295
29,001,510

0
22,808
22,808
#REF!

1,500
4,500
2,871,041

2,877,041

934,800
0

0
0

548,901,593

862,375
3,034,889
93,202
65,655
2,149,558
8,124,000
86,499
14,416,178

751,554
70,116
729,055
336,902
122,732
2,010,359
16,426,537

93,645
80,323
0
0

0
0
0
196,261
0
0
306
915
0
9,949
0
0
6,778
0
0
245,333
0
0
0
114,455
0
747,965

39,051,516
8,471,789
0
40,070,747
87,594,052

#REF!

13,000
2,000
0
2,000
0
2,000
4,000
3,500

7286765

465,223

2,000
6,325
0
2,000
0
8,000
875
11,535
3,000
0
2,000
3,500
0
1,000
2,000
0
7,157
2,000
2,000
2,000
2,000
0
2,000
22,000
8,000
4,000
2,800
2,000
4,000
2,000
6,000
0
0
1,300
0
1,602
0
0
0
(7,967)
3,091
10,000
2,000
2,000
26,000
1,000
2,625

0
0
3,000
(1)
181,342

7,254,000
0
0
205
5,773
333,569
42
690
1
0
0
0
0
2,400

40,000
7,636,680

12,574

12,574

0
0
0
0
0
0
0
0
200
0

200
15632363
0
224,506
0
86
224,592

7,874,046

171,842
8,055,388

6,062,947
95,030
0
15,600
110,630
6,062,947

4,193,299
-

0
0
0
0
0
0
0
0
0
0
0
0

0
0
-

#REF!

8,412,126
8,171,202
0
16,583,328

55,094
338,599
904,651
2,551
3,136
22,963
312,689
25,585
266,227
6,468
11,102,192
3,917,300
7,256
31,854
9,360
17,005,926
33,589,254

0
0
0
0
-

8,007,303

0
0
0
0
0
-

0
0
0
-

0
0
0
-

0
-

0
0
-

0
0
0
0
0
0
0
0
0
0
0
-

0
0
0
0
0
0
0
0
0
0
0
0
-

0
0
0
0
0

449,265,014

29,209,611
0

21781

0
0
0
0
0
0
-

0
0
0

4,685,135

11,330,835.25
596,359.75

0
0
-

0
0
-

0
0
0

0
0
-

834,063

0
-

#REF!

0
0
0
0
0
-

55,616

0
0
0
-

0
0
-

70000 expense ma ziada

-864633
-

0
0
-

0
0
0
0

0
-

0
0
0
-

0
0
0
0

Reclassification
Advances

NOOR ASIA
Bilal traders

3095976
22002
3117978

Export sale as per ledger


Add
Opening debtors
Closing foreign advances
Exchange Gain

Less
Closing Debtors
Opening foreign advances

Export sale realised

168,368,747

87,594,052
9,390,367
96,984,419
265,353,166
2,165,369
2,165,369
263,187,797

260,091,743
260,608,200

3,096,054
2,579,597
25,796

2014

FREE HOLD
Land
Building
Plant & machinery
Generator
Tools & Equipments
Electric Equipment
Office Equipments
Computers
Furniture & Fixture
Vehicles
Total

35,549,870
70,296,752
150,882,355
4,250,000
513,416
15,003,259
183,739
2,236,295
694,250
30,083,971
309,693,907

COST

Additions

21,642,202
10,095,829
6,200,000
91,000
3,009,953
34,240
29,350
102,479
41,205,053

(Deletions)

(1,209,015)
(214,286)
(1,423,301)

Total
As At
30-06-2014
35,549,870
91,938,954
159,769,169
10,450,000
604,416
18,013,212
217,979
2,051,359
796,729
30,083,971
349,475,659

AccumulaTed As At
01-07-2013
5,878,295
17,789,211
1,065,688
127,107
3,693,375
24,067
1,108,442
173,642
5,019,978
34,879,805

DEPRECIATION
For
Accumulated
The
Adjustments
As At
Year
30-06-2014
3,311,099
6,689,544
835,098
39,389
1,322,039
18,535
339,611
60,435
5,012,799
17,628,548

(338,793)
(171,839)
(510,632)

9,189,394
24,139,962
1,900,786
166,496
5,015,414
42,602
1,276,214
234,077
10,032,777
51,997,721

W.D.V
As At
30-06-2014

RATE %

PARTICULARS

Total
As At
01-07-2013

35,549,870
82,749,560
135,629,207
8,549,214
437,920
12,997,798
175,377
775,145
562,652
20,051,194
297,477,938

5
5
10
10
10
10
30
10
20

2014

PARTICULARS

Computer Software
Total

Additions
650,000
650,000

AMORTIZATION

(Deletions)
-

Total
As At
30-06-2014
650,000
650,000

Accumulated
As At
01-07-2013
-

For
The
Year
5,417
5,417

Accumulated
Adjustments
As At
30-06-2014
-

5,417
5,417

W.D.V
As At
30-06-2014
644,583
644,583

RATE %

COST
Total
As At
01-07-2013

10%
-

2013

FREE HOLD
Land
Building
Plant & machinery
Generator
Tools & Equipments
Electric Equepment
Office Equipments
Computers
Furniture & Fixture
Vehicles
Total

35,549,870
43,491,345
128,302,777
4,250,000
513,416
14,895,680
59,839
1,817,455
694,250
11,525,321
241,099,953

COST

Additions

26,805,407
22,579,578
107,579
123,900
418,840
18,938,650
68,973,954

(Deletions)

(380,000)
(380,000)

TOTAL
AS AT
30-06-2013
35,549,870
70,296,752
150,882,355
4,250,000
513,416
15,003,259
183,739
2,236,295
694,250
30,083,971
309,693,907

ACCUMULATED AS AT
01-07-2013
3,781,094
11,317,629
711,875
84,184
2,441,415
7,432
752,093
115,797
2,346,242
21,557,761

DEPRECIATION
FOR
THE
YEAR
2,097,201
6,471,582
353,813
42,923
1,251,960
16,635
356,349
57,845
2,764,936
13,413,244

(91,200)
(91,200)

ACCUMULA
TED AS AT
30-06-2013
5,878,295
17,789,211
1,065,688
127,107
3,693,375
24,067
1,108,442
173,642
5,019,978
34,879,805

W.D.V
AS AT
30-06-2013

RATE %

PARTICULARS

TOTAL
AS AT
01-07-2012

35,549,870
64,418,457
133,093,144
3,184,312
386,309
11,309,884
159,672
1,127,853
520,608
25,063,993
274,814,102

5
5
10
10
10
10
30
10
20

Ref. No.

Client: Ideal Rice Industries Pvt Ltd

File no:

Accounting Year : Year ended june 30, 2014


Grouping Head: Current Assets
Detailed Head:
Income Tax Deducted / Deposited
Account Code:

Prepared by:
Checked by:
Reviewed by:

Particulars

Opening

Ref.

2014
(Rupees)

4,193,299

Tax deducted / deposited against :

Telephone

9,140

Electricity Bill

698,199

Import L/Cs

383,229

Advance Tax deposited

Tax deducted by parties

37,079

WHT on cash withdrawal

76,554

Mobile

2,195

Exports

2,606,082

Vehicle

1,750

Rental income

3,814,228

8,007,527

(P-6)

Ideal Rice Industries


TAX YEAR 2014

Prepared by:

CALCULATION OF TAXABLE PROFIT

2014
Rupees
(15,304,153)
(15,304,153)

Profit before tax


WPPF @ 5 %
Profit before taxation, WWF
Less: Final/separate block of incomes:
Trading profit ( Related to final income)

Profit before taxation, WWF

(15,304,153)

WWF on Accounting profit


Profit before taxation and WWF
Add:
Accounting depriciation
Accounting gain on disposal
Provision for gratuity
Penalty (Sales tax recovery)
Rental Income (Fall in normal Income)
Rental Income
Less 1/5 of income
Less Property tax

(15,304,153)

Less:
Tax depriaciation
Tax loss on disposal
Gratuity paid during the year
Gross Rental Income
Tax profit before WWF
WWF
WWF @ 2%

(15,304,153)

TAXATION
(15,304,153)
Profit before taxation @ 34%

(5,203,412)

Revenue

397,882,147

Minimum tax @ 1%

3,978,821
Higher of 1 and 2

Tax on net profit

3,978,821

Final Tax
Tax on trading revenue
(It is supposed that all Import stock has been sold so Tax is taken as Final)
Tax on Exports @ 1%

273,015

273,015

Tax Liability (A+B)


Less: Tax Credits
Tax credit on new machinary
Plant & machinery
Electric installations
Generator
Tax credit @ 10%
Tax credit on Donation
20% of taxable income for the year
or
Total amount of donation
Tax credit on donation shall be available on lesser of A and B @ 34%
Total Tax credit
Net tax (refund) / liability

4,251,836

(3,060,831)
610,000
610,000

207,400
207,400
4,044,436

Tax already Deducted (Detail Attached)

(11,014,046)

Less Provision for WWF:


Current year
Prior year
Net Tax refund

(11,014,046)