IDEAL RICE INDUSTRIES Accounts

EQUITY AND LIABILTIES 2014 2013 ASSETS 2014 2013

Note Rupees Rupees Note Rupees Rupees

SHARE CAPITAL AND RESERVES NON CURRENT ASSETS

Authorised Capital Property, plant and equipment 11 298,122,522 275,486,910

300,000,000 300,000,000

Issued, subscribed and paid up capital

200,000,000 200,000,000

Unappropriated (loss) / profit (9,659,280) 5,644,873 Long Term Deposits 12 2,877,041 2,877,041

190,340,720 205,644,873

NON CURRENT LIABILITIES

Long term financing 5 478,771,232 308,752,905

CURRENT LIABILITIES CURRENT ASSETS

Trade and other payables 6 34,785,753 19,585,906 Stores and spares 13 22,426,905 16,426,538

Short term borrowings 7 117,596,983 424,489,364 Stock in trade 14 463,340,780 549,836,393

Accrued mark-up 8 6,574,277 12,280,253 Trade debts 15 9,917,357 88,342,018

Current portion of non curren liabilities 9 7,281,676 14,715,016 Loans and advances 16 15,931,443 8,055,389

Short term prepayments 17 145,946 487,898

Other receivables 18 72,730 110,630

Tax refunds due from government 19 10,119,547 10,256,246

Cash and bank balances 20 12,396,370 33,589,254

166,238,689 471,070,539 534,351,078 707,104,366

CONTINGENCIES & COMMITMENTS 10 - -

835,350,641 985,468,317 835,350,641 985,468,317

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

CHIEF EXECUTIVE DIRECTOR

IDEAL RICE INDUSTRIES (PVT) LIMITED

BALANCE SHEET

AS AT JUNE 30, 2014

30,000,000 (2013: 30,000,000) ordinary

shares of Rs. 10/- each

20,000,000 (2013: 20,000,000) ordinary

shares of Rs.10/- each

2014 2013

Note Rupees Rupees

Sales- net 21 658,710,524 684,696,115

Cost of sales 22 608,434,274 621,723,197

Gross profit 50,276,250 62,972,918

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

Operating profit 15,668,293 15,970,252

Other income 25 10,019,783 3,255,424

Other charges

Finance cost 26 40,992,129 44,596,306

Workers' profit participation fund - -

Other expenses 27 100 7,000

40,992,229 44,603,306

Other income

Loss before taxation (15,304,153) (25,377,630)

Taxation 28 2,461,321

Loss for the year (15,304,153) (27,838,951)




PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED JUNE 30, 2014

2014 2013

Rupees Rupees

Net loss for the year (15,304,153) (27,838,951)

Other comprehensive income form the year - -

Gross loss (15,304,153) (27,838,951)




STATEMENT OF COMPREHENSIVE INCOME


2014 2013

RUPEES RUPEES

A- CASH FLOWS FROM OPERATING ACTIVITIES

Loss before taxation (15,304,153) (25,377,630)

Adjustment of non cash / non operating items

Depreciation 17,628,548 13,413,244

Ammortization 5,417 -

Mark- up 40,992,129 44,596,306

Gain on sale of fixed assets (137,988) (21,200)

58,488,106 57,988,350

Operating (loss) / profit before working capital changes 43,183,953 32,610,720

Changes in working capital

Increase/ (decrease) in current assets

Stores and spares (6,000,368) (7,781,937)

Stock in trade 86,495,613 (282,990,888)

Trade debts 78,424,660 (42,636,118)

Loans and advances (7,876,054) (7,261,690)

Short term prepayments 341,952 (362,275)

Other receivables 37,900 135,770

Tax refunds due from government 3,950,927 (1,549,242)

Increase/ (Decrease) in current liabilities

Trade and other payables 15,291,300 16,039,716

170,665,930 (326,406,664)

Cash generated from / (used in) operations 213,849,883 (293,795,944)

Taxes paid (3,849,634) (5,482,584)

Finance cost paid (46,698,105) (38,627,977)

WPPF paid (56,045) (1,799,193)

(50,603,784) (45,909,754)

Net cash generated from / (used in) operating activities 163,246,099 (339,705,698)

B- CASH FLOWS FROM INVESTING ACTIVITIES

Additions in property, plant & equipment (41,182,245) (37,262,207)

Proceeds from sale of operating assets 1,050,656 310,000

Long term deposits - (4,500)

Net cash used in investing activities (40,131,589) (36,956,707)

C- CASH FLOWS FROM FINANCING ACTIVITIES

Ordinary shares issued - 130,500,000

Long term financing 162,584,987 (30,038,369)

short term borrowings (306,892,381) 299,988,352

Net cash (used in) / generated from financing activities (144,307,394) 400,449,983

Net (decrease) / increase in cash and cash equivalents (A+B+C) (21,192,884) 23,787,578

Cash and cash equivalents at the beginning of the year 33,589,254 9,801,676

Cash and cash equivalents at the end of the year 12,396,370 33,589,254




CASH FLOW STATEMENT

FOR THE YEAR ENDED JUNE 30 , 2014

RESERVES

REVENUE

RUPEES RUPEES RUPEES

BALANCE AS AT JULY 01, 2012 69,500,000 33,483,824 102,983,824

Ordinary shares of Rs. 10/- each issued during

the year fully paid in cash 130,500,000 - 130,500,000

Net loss for the year - (27,838,951) (27,838,951)

BALANCES AS ON JUNE 30, 2013 200,000,000 5,644,873 205,644,873

Net loss for the year - (15,304,153) (15,304,153)

BALANCES AS ON JUNE 30, 2014 200,000,000 (9,659,280) 190,340,720




STATEMENT OF CHANGES IN EQUITY


PARTICULARSSHARE

CAPITALTOTAL

IDEAL RICE INDUSTRIES (PVT) LTD.

NOTES TO THE FINANCIAL STATEMENTS


1. STATUS AND ACTIVITIES

2. BASIS OF PREPARATION

2.1. Statement of Compliance

2.2. Standards, interpretations and amendments to published approved accounting standards adopted during

2.3. Standards, interpretations and amendments to approved accounting standards that are issued but not yet

effective.

IFRS-12 Disclosure of Interest in Other Entities January 1, 2013

IFRS-13 Fair Value Measurement January 1, 2013

IFRIC-21 Levies January 1, 2014

3. BASIS OF MEASUREMENT

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.

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.

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.

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.

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

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

4.1. Provisions

4.2. Trade and other payables

4.3. Taxation

4.4. Property, plant and equipment

Gains and losses on disposal of assets are included in current income.

These are transferred to specific assets as and when these assets are available for use

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.

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.

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.

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.

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.

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.

All expenditure connected with specific assets incurred during installation and construction period are carried under

capital work-in-progress.

4.5. Related party transactions and transfer pricing

4.6. Stores and spares

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 Weighted average cost

in transit Cost accumulated up to the balance sheet date

Work in process and finished goods Raw material cost including a portion of production overheads

Waste At net realizable value

4.8. Receivables

4.9. Foreign currency translation

4.10. Cash and cash equivalents

4.11. Revenue

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.

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.

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.

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.

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.

Transactions with related parties are carried out at arm's length. The prices are determined in accordance with

comparable uncontrolled price method.

5. Long Term Financing

Term Finance

I

Term

Finance II LTFF

Opening balance 7,433,336 13,847,684 10,669,230 291,517,671 323,467,921

Obtained during the year - - - 239,800,000 239,800,000

7,433,336 13,847,684 10,669,230 531,317,671 563,267,921

Paid during the year (7,433,336) (5,035,524) (2,246,153) (62,500,000) (77,215,013)

- 8,812,160 8,423,077 468,817,671 486,052,908

Current portion shown

Under current liabilities - (5,035,524) (2,246,152) - (7,281,676)

- 3,776,636 6,176,925 468,817,671 478,771,232

Security Secured Secured Secured Unsecured

Nature of installment Quarterly Quarterly Quarterly -

Sub note 5.1 5.1 5.2 5.3

5.1.

5.2.

5.3.

2014

Note Rupees

6. Trade and other payables

Trade creditors 6.1 25,447,192

Advances from customers 7,183,996

Income tax withheld 288,302

Accrued liabilities 1,866,263

Workers' profit participation fund 6.2 -

34,785,753

6.1. It includes an amount of Rs. ---------/- (2013: Rs. 6,834,947/-) payable to associated undertakings.

6.2. Workers' profit participation fund

Balance as on July 01, 56,045

Interest on funds utilised in the company's business -

56,045

Allocation for the year -

56,045

Less: Amount paid to the fund 56,045

-

7. Short term financing

CF- Pledge 7.1 117,596,983

FAPC-1 -

117,596,983

7.1.

8. Accrued mark- up

Long term financing 239,980

Short term financing 6,334,297

6,574,277

323,467,921

From Banking Companies

Particulars

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.

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.

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).

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.

From

Directors and

Associates

2014

(14,715,016)

2013

353,506,290

9,900,000

363,406,290

(39,938,369)

2014

Note Rupees

9. Current Portion of non current liabilities

Current portion of long term financing 7,281,676

10. Contingencies & commitments

10.1. Contingencies

10.2. Commitments

Under letter of credit for capital goods -

11. Property, plant and equipment

Operating fixed assets 11.1 297,477,938

Computer software 11.2 644,583

Capital work in progress 11.3 -

. 298,122,522

11.1. Operating fixed assets

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.

TOTAL

AS AT

01-07-2012

Additions (Deletions)TOTAL

AS AT

30-06-2013

ACCUMUL

A-TED AS

AT

FOR

THE

YEAR

ACCUMUL

ATED AS

AT FREE HOLD

Land 35,549,870 - - 35,549,870 - - - - 35,549,870 -

Building 43,491,345 26,805,407 - 70,296,752 3,781,094 2,097,201 - 5,878,295 64,418,457 5

Plant & machinery 128,302,777 22,579,578 - 150,882,355 11,317,629 6,471,582 - 17,789,211 133,093,144 5

Generator 4,250,000 - - 4,250,000 711,875 353,813 - 1,065,688 3,184,312 10

Tools & Equipments 513,416 - - 513,416 84,184 42,923 - 127,107 386,309 10

Electric Equepment 14,895,680 107,579 - 15,003,259 2,441,415 1,251,960 - 3,693,375 11,309,884 10

Office Equipments 59,839 123,900 - 183,739 7,432 16,635 - 24,067 159,672 10

Computers 1,817,455 418,840 - 2,236,295 752,093 356,349 - 1,108,442 1,127,853 30

Furniture & Fixture 694,250 - - 694,250 115,797 57,845 - 173,642 520,608 10

Vehicles 11,525,321 18,938,650 (380,000) 30,083,971 2,346,242 2,764,936 (91,200) 5,019,978 25,063,993 20

Total 241,099,953 68,973,954 (380,000) 309,693,907 21,557,761 13,413,244 (91,200) 34,879,805 274,814,102

2013

PARTICULARS

COST DEPRECIATIONW.D.V

AS AT

30-06-2013

RA

TE

%

Total

As At

01-07-2013

Additions (Deletions)

Total

As At

30-06-2014

Accumula-

Ted As At

01-07-2013

For

The

Year

Adjustments

Accumulate

d As At

30-06-2014

FREE HOLD

Land 35,549,870 - - 35,549,870 - - - - 35,549,870 -

Building 70,296,752 21,642,202 - 91,938,954 5,878,295 3,311,099 - 9,189,394 82,749,560 5

Plant & machinery 150,882,355 10,095,829 (1,209,015) 159,769,169 17,789,211 6,689,544 (338,793) 24,139,962 135,629,207 5

Generator 4,250,000 6,200,000 - 10,450,000 1,065,688 835,098 - 1,900,786 8,549,214 10

Tools & Equipments 513,416 91,000 - 604,416 127,107 39,389 - 166,496 437,920 10

Electric Equipment 15,003,259 3,009,953 - 18,013,212 3,693,375 1,322,039 - 5,015,414 12,997,798 10


Computers 2,236,295 29,350 (214,286) 2,051,359 1,108,442 339,611 (171,839) 1,276,214 775,145 30

Furniture & Fixture 694,250 102,479 - 796,729 173,642 60,435 - 234,077 562,652 10

Vehicles 30,083,971 - - 30,083,971 5,019,978 5,012,799 - 10,032,777 20,051,194 20

Total 309,693,907 41,205,053 (1,423,301) 349,475,659 34,879,805 17,628,548 (510,632) 51,997,721 297,477,938

2014

PARTICULARS


As At

30-06-2014

RA

TE

%

2014

Rupees

11.1.1. Depreciation charged for the year has been allocated as under:

Cost of sales 12,197,168

Administrative expenses 5,431,380

17,628,548

11.2. Computer software

2014

Note Rupees

11.3. Capital work in progress

Plant & machinery -

Computer software -

-

12. Long term deposits

Security deposits 2,877,041

13. Stores and spares

Stores 18,659,097

Spares 3,767,808

22,426,905

14. Stock in trade

Raw material -

Work in process 2,082,677

Finished goods 461,258,103

463,340,780

15. Trade debts

Considered good

Local - unsecured 7,751,988

Foreign- secured 2,165,369

9,917,357

16. Loans and advances

Considered good

Advances

Suppliers 15,632,365

Employees 299,078

15,931,443

17. Short term prepayments

Prepaid insurance 17.1 145,946

Other prepayment 17.1 -

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 72,730

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 2,112,020

Income tax receivable 8,007,527

10,119,547

Total

As At

01-07-2013Additions (Deletions)

Total

As At

30-06-2014

Accumulate

d As At

01-07-2013

For

The

Year

Adjustments

Accumulate

d As At

30-06-2014

Computer Software - 650,000 - 650,000 - 5,417 - 5,417 644,583 10%

Total - 650,000 - 650,000 - 5,417 - 5,417 644,583 -

2014

PARTICULARS

COST AMORTIZATIONW.D.V

As At

30-06-2014

RA

TE

%

2014

Note Rupees

20. Cash and bank balances

Cash in hand 8,465,762

Cash at bank

In current accounts 3,930,608

12,396,370

21. Sales - net

Export 21.1 168,368,747

Local sales 21.2 492,213,051

660,581,798

Less: Commission (1,871,274)

658,710,524

21.1. It includes exchange gain amounting to Rs. 9,390,367/- (2013: 3,234,224/-).Prior year figures have been reclassified for 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 22.1 450,199,814

Stores and spares consumed 22.2 3,950,544

Purchase of rice for processing 29,209,611

Salaries and wages 5,590,512

Freight 677,347

Handling charges 3,685,135

Packing expenses 2,308,479

Electricity and fuel 11,330,835

Oil and lubricants 645,239

Repair and maintenance 2,125,149

Depreciation 11.1.1 12,197,168

Insurance 953,627

522,873,461

Work in process

Balance as on July 01 -

Balance as on June 30 (2,082,677)

520,790,784

Finished goods

Balance as on July 01 548,901,593


608,434,274

22.1. Raw material consumed

Balance as on July 01 934,800

Purchases 449,265,014

Available for consumption 450,199,814

Balance as on June 30 -

450,199,814

22.2. Stores and spares consumed

Balance as on July 01 16,426,538

Purchases 9,950,911

Available for consumption 26,377,449


3,950,544

23. Distribution cost

Freight charges 4,010,497

Handling charges 2,850,443

Marine insurance 117,079

Export development surcharge 636,135

Advertisement and exhibition -

7,614,154

2014

Note Rupees

24. Administrative expenses

Salaries 9,718,739

Electricity 596,360

Communication 357,740

Travelling and conveyance 113,250

Printing and stationery 195,455

Entertainment 728,892

Newspaper and periodicals 9,934

Debtors written off 62,774

Fee and subscriptions 1,721,749

Rent, rate and taxes 1,178,310

Default surcharge & penalties 177,328

Auditors remuneration 75,000

Legal and professional 169,570

Vehicle running and maintenance 1,963,800

Repair and maintenance 539,490

Sales tax rocovery 24.1 2,793,440

Insurance 949,237

Depreciation 5,431,380

Ammortization 5,417

Miscellaneous 205,939

26,993,803

24.1.

25. Other income

Gain on disposal of assets 137,988

Foreign exchange gain 9,390,367

Others 491,428

10,019,783

26. Finance cost

Interest on worker's profit participation fund -

Mark-up on long term financing 2,795,124

Mark-up on short term financing 35,353,518

Bank charges and commission 2,843,487

40,992,129

27. Other expenses

Charity and donations 100

28. Taxation

Current 28.1 -

28.1.

28.2.

29. Remuneration to Chief executive, directors & executives

Chief

Executive Directors Executives

Chief

Executive Directors

Managerial remuneration - - - - -

No. of persons 1 4 6 1 4

This represents amount paid to FBR relating to prior year recovery of short paid tax under Rule 25 of the Sales Tax Rules,

2006.

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.

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.

2014 2013

Rupees Rupees

308,752,905

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

356,509

11,923,744

12,280,253

323,467,921

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.

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.

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).

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.

(14,715,016)

2013

353,506,290

9,900,000

363,406,290

(39,938,369)

2013

Rupees

14,715,016

7,241,920

274,814,102

-

672,808

275,486,910

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.

TOTAL

AS AT

01-07-2012

Additions (Deletions)TOTAL

AS AT

30-06-2013

ACCUMUL

A-TED AS

AT

FOR

THE

YEAR

ACCUMUL

ATED AS

AT FREE HOLD

Land 35,549,870 - - 35,549,870 - - - - 35,549,870 -

Building 43,491,345 26,805,407 - 70,296,752 3,781,094 2,097,201 - 5,878,295 64,418,457 5

Plant & machinery 128,302,777 22,579,578 - 150,882,355 11,317,629 6,471,582 - 17,789,211 133,093,144 5

Generator 4,250,000 - - 4,250,000 711,875 353,813 - 1,065,688 3,184,312 10




Computers 1,817,455 418,840 - 2,236,295 752,093 356,349 - 1,108,442 1,127,853 30


Vehicles 11,525,321 18,938,650 (380,000) 30,083,971 2,346,242 2,764,936 (91,200) 5,019,978 25,063,993 20

Total 241,099,953 68,973,954 (380,000) 309,693,907 21,557,761 13,413,244 (91,200) 34,879,805 274,814,102

2013

PARTICULARS


AS AT

30-06-2013

RA

TE

%

Total

As At

01-07-2013

Additions (Deletions)

Total

As At

30-06-2014

Accumula-

Ted As At

01-07-2013

For

The

Year

Adjustments

Accumulate

d As At

30-06-2014

FREE HOLD

Land 35,549,870 - - 35,549,870 - - - - 35,549,870 -

Building 70,296,752 21,642,202 - 91,938,954 5,878,295 3,311,099 - 9,189,394 82,749,560 5

Plant & machinery 150,882,355 10,095,829 (1,209,015) 159,769,169 17,789,211 6,689,544 (338,793) 24,139,962 135,629,207 5

Generator 4,250,000 6,200,000 - 10,450,000 1,065,688 835,098 - 1,900,786 8,549,214 10




Computers 2,236,295 29,350 (214,286) 2,051,359 1,108,442 339,611 (171,839) 1,276,214 775,145 30


Vehicles 30,083,971 - - 30,083,971 5,019,978 5,012,799 - 10,032,777 20,051,194 20

Total 309,693,907 41,205,053 (1,423,301) 349,475,659 34,879,805 17,628,548 (510,632) 51,997,721 297,477,938

2014

PARTICULARS


As At

30-06-2014

RA

TE

%

2013

Rupees

10,217,479

3,195,765

13,413,244

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

Total

As At


Total

As At

30-06-2014

Accumulate

d As At

01-07-2013

For

The

Year

Adjustments

Accumulate

d As At

30-06-2014


Total - 650,000 - 650,000 - 5,417 - 5,417 644,583 -

2014

PARTICULARS


As At

30-06-2014

RA

TE

%

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

21.2. It includes Rs. ----------/- (2013: 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

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

Executives

5,000,000

6

This represents amount paid to FBR relating to prior year recovery of short paid tax under Rule 25 of the Sales Tax Rules,

2006.

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.

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.

2013

Rupees

30. Transactions with related parties

2014

Rupees

Ideal Spinning Mills Associate Purchase - Diesel -

Limited

Ideal Spinning Mills Associate -

Limited

Arshad Corporation Associate -

(Pvt.) Limited

Ideal Fabrics (Pvt.) Associate -

Limited

Ideal Overseas General Associate -

Trading Company, LLC

31. Financial risk management objectives & policies

2014

Rupees

FINANCIAL INSTRUMENTS BY CATEGORY

Financial assets:

Long term deposits 2,877,041

Trade debts 9,917,357

Loans and advances 15,931,443

Short term prepayments 145,946

Other receivables 72,730

Cash & bank balances 12,396,370

41,340,887

Financial liabilities:

Long term financing 486,052,908

Trade and other payables 27,313,455

Short term borrowings 117,596,983

Accrued mark-up 6,574,277

637,537,623

31.1. Market risk

31.1.1. Yield / Mark-up rate risk

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:

Nature of

relationship Name Nature of transaction

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.

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.

Expenses paid by associated company on

behalf of company

Expenses paid by associated company on

behalf of company

Expenses on behalf of associated company

Expenses on behalf of associated company

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.

2013

Rupees

1,273,746

14,340

96,711

95,030

15,600

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

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:

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.

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.

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.

31.1.2. Currency risk / Foreign exchange risk

31.1.2. Other price risk / Equity price risk

31.2. Credit risk and cocentration of credit risk

2014

Rupees

Financial assets:

Long term deposits 2,877,041

Trade debts 9,917,357

Loans and advances 15,931,443

Short term prepayments 145,946

Other receivables 72,730

Bank balances 3,930,608

32,875,125

Credit quality of financial assets

The credit risk on liquid funds is limited because the counter parties are banks with reasonably high credit ratings.

31.3. Liquidity risk

Within 6

months

More than 6

months and

upto 1 year

More than 1

year and upto 5

years


Long term financing 3,640,838 3,640,838 478,771,232

Trade and other payables 27,313,455 - -

Short term borrowings 117,596,983 - -

Accrued mark-up 6,574,277 - -

155,125,553 3,640,838 478,771,232

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.

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.

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.

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:

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.

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.

TOTAL

Rupees

2014

Within 6

months

More than 6

months and

upto 1 year

More than 1

year and upto 5

years


Long term financing 7,357,506 7,357,510 308,752,905

Trade and other payables 18,927,701 - -

Short term borrowings 424,489,364 - -

Accrued mark-up 12,280,253 - -

463,054,824 7,357,510 308,752,905

31.4. Fair value of financial instruments

31.5. Capital risk Management:

2014

Rupees


Long term financing 486,052,908

Short term borrowings 117,596,983

Debts 603,649,891

Equity 190,340,720

Total capital (equity + debt) 793,990,611

Gearing ratio 76.03

32. Date of authorization for issue

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 Current head

Prepaid insurance Advances, prepayments & other Short term prepayments

(Rs. 171,842/-) receivables

Other prepayments Advances, prepayments & other Short term prepayments


Others Advances, prepayments & other Other receivables


Foreign exchange gain Sales-net - export Other income

(Rs. 3,234,224/-)

2013

TOTAL

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

Rupees

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

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.

2013

Rupees

2,877,041

88,342,018

8,055,389

487,898

110,630

17,005,926

116,878,902

The credit risk on liquid funds is limited because the counter parties are banks with reasonably high credit ratings.

486,052,908

27,313,455

117,596,983

6,574,277

637,537,623

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.

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.

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.

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:

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.

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.

TOTAL

Rupees

2014

323,467,921

18,927,701

424,489,364

12,280,253

779,165,239

2013

Rupees

323,467,921

424,489,364

747,957,285

205,644,873

953,602,158

78.43

Short term prepayments

Short term prepayments

Other receivables

2013

TOTAL

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

Rupees

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

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.

33.3. Total number of employees at the year end are ------ (2013: ).

33.4. Figures have been rounded off to the nearest rupee.


GL CODE 2,014

GL CODE ISSUED SUBSCRIBED & PAID UP CAPITAL

1111111114 SHARE CAPITAL-AHSAN SAEED 25,000,000

1111111117 SHARE CAPITAL- KANWAL SAEED 25,000,000

1111111111 SHARE CAPITAL-AMJAD SAEED 20,100,000

1111111116 SHARE CAPITAL-RUBINA AMJAD 2,510,000

1111111115 SHARE CAPITAL-KHIZER SAEED 102,390,000

1111111113 SHARE CAPITAL-OMER SAEED 25,000,000

200,000,000

-

GL CODE REVENUE RESERVES -

1112111111 UNAPPRPRIATED PROFIT / LOSS 5,644,873

5,644,873

GL CODE LONG TERM LOANS FROM BANKING COMPANIES

1211111111 LTFF - BOP 8,812,160

1211111112 TERM FINANCE-1 - BANK ALFALAH LTD 8,423,077

1211111113 TERM FINANCE-2 - BANK ALFALAH LTD.

17,235,237

GL CODE LONG TERM LOANS FROM ASSOCIATED AND DIRECTORS

1212121114 OMER SAEED 33,460,000

1212121113 KHIZER SAEED 7,660,000

1212121115 MUHAMMAD SAEED 510,000

1212121111 AMJAD SAEED 365,902,671

1212121112 AHSAN SAEED 50,985,000

1212131111 RUBINA AMJAD 10,300,000

TOTAL-LONG TERM LOANS FROM ASSOCIATED AND DIRECTORS 468,817,671

486,052,908

TRADE CREDITORS

GL CODE CREDITORS FOR STORES

1413111218 PAKISTAN STATE OIL 0

1413111165 TOTAL OIL PAKISTAN (PVT.) LTD 0

1413111173 ABCO TECHNICAL (PVT) LTD 27,814

LONG TERM LIABILITIES

IDEAL RICE INDUSTRIES (PVT) LTD

GROUPING FOR ACCOUNTS PREPARATION

TITLE

SHARE CAPITAL AND RESERVES

TOTAL- SHARE CAPITAL

GRAND TOTAL-LONG TERM LIABILITIES

-

RESERVES

TOTAL-RESERVES

GRAND TOTAL- SHARE CAPITAL AND RESRVES

TOTAL- LONG TERM LOAN FROM BANKING COMPANIES

1413111167 ORIENT ENERGY SYSTEMS (PVT) LTD 52,607

1413111179 ALI INTERNATIONAL 6,200

1413111237 BILAL TRADERS (STORE CREDITOR) 0

1413111227 NEW SHALIMAR INDUSTRIES (PVT) LTD 0

1413111252 HI TECH TEXTILE CONCERN 11,660

1413111139 AL NOOR PRINTERS 0

1413111134 HAIDER COMPUTERS 0

1413111177 ANJUM MILL STORE 24,088

1413111146 A.T CHAUDHARY & CO 900

1413111241 COMPUTER GADGETS 0

1413111220 SALEEM PLASTIC 0

1413111206 AL-RAZIQ TRADERS 450

1413111210 SH. WILAYAT ANMED & SONS 0

1413111111 HAFIZ ELECTRIC CONCERN 98,833

1413111236 M SIDDIQUE BROTHER 0

1413111189 ORANGE TECHNOLOGIES (PVT) LTD 0

1413111203 COMPUTER CONCERN 1

1413111196 SHAHEEN PLASTIC 0

1413111213 PAK DIMOND INDUSTRIAL SALES 0

1413111176 HAMZA INDUSTRIAL STORE 0

1413111128 MUHAMMAD ISHTIAQ PERVAIZ 1

1413111119 JAVAID ANTI-FIRE CORPORATION 0

1413111160 CLASSWELL CHEMICAL ENTERPRISES 48,200

1413111221 POLICE FOUJI GENERAL STORE 0

1413111205 MATCO (PVT) LTD 32,175

1413111234 FINE BOOKS 0

1413111238 DIGTECH DIGITAL TECHNOLOGY 0

1413111246 COMFORTS HOUSE 0

1413111249 AQUA TECH SERVICES 248,000

1413111172 HAIDER COMPUTER & STATIONERS 1

1413111125 PIONEER CEMENT LIMITED 1,031

1413111136 NAFEES BOOK DEPO & STATIONERS 17,165

1413111181 WORLD LINK 0

1413111194 NASEER ENTERPRISES 6,960

1413111226 PAKISTAN CABLES LIMITED 0

1413111183 ISHTIAQ STEEL INDUSTRY 75,861

1413111198 SUPERIOR THREAD 0

1413111124 SHAKEEL TRADERS (STORE CREDITOR) 0

1413111121 UNIQUE DRAWING & STATIONERY MART 0

1413111231 PROGRESSIVE PAINTS 0

1413111245 CITIZEN STATIONERS 2,450

1413111190 MAKKAH AUTO CAR 0

1413111188 METRO-HABIB CASH & CARRY PAKISTAN (PVT) LTD 0

1413111195 NEW ALLIED INDUSTRIES 19,575

1413111217 MASOOD FAROOQ INDUSTRIES 0

1413111216 HAFIZ INDUSTRIAL STORE 1,950

1413111222 TUBA ELECTRIC COMPANY 0

1413111208 WAQAS TRADING COMPANY 0

1413111117 TAIMOOR TRADERS 4,560

1413111131 MIAN TRADERS 0

1413111215 ITTEFAQ STEEL CORPORATION 148,460

1413111114 BLUE MOON FILLING STATION 1,225,226

1413111214 S.N INDUSTRIAL CORPORATION 70,751

1413111233 KNEC ELECTRIC COMPANY 0

1413111230 DIAMOND TRDERS 8,540

1413111130 STAR COMPUTER & STATIONERY 27,780

1413111175 A-B ELECTRONICS 0

1413111142 SUPER ELECTRONICS 100,000

1413111118 MAQBOOL & SONS 173,543

1413111239 B.M CORPORATION 1

1413111243 INTERRA ENERGY SOLUTIONS 0

1413111202 TYRE HOUSE 0

1413111248 MICRON COMPUTER SERVICES 3,900

1413111123 FINE OFFICE PRODUCTS 0

1413111116 PIONEER ELECTRIC COMPANY 17,600

1413111200 NABEEL TRADERS 0

1413111244 MATADOR TECHNICAL SYSTEMS 0

1413111240 FAZAL ENTERPRISES 0

1413111169 MICRO TECH 0

1413111224 USMAN TRADERS 0

1413111223 IDEAL CORPORATION 0

1413111112 MADINA MILL STORE 46,693

1413111229 UNI-COMMERCE (PVT) LTD 0

1413111225 LUBRIC ELECTRO 43,750

1413111184 NEW DIGITAL COMPUTER SERVICES 11,201

1413111164 PAKISTAN CHAIN CENTER 22,200

1413111235 JAWAD TRADERS 0

1413111232 ZAINAB ENGINEERING 0

1413111228 ELECTRIC & ELECTRIC CONCERN 0

1413111149 GENERAL PIPE & MACHINERY STORE (PVT) LTD 6,600

1413111182 SUPPLY CHAIN BUSINESS SOLUTIONS 0

1414131116 FAST CABELS LTD. 1

2913111155 CANON SOLUTION 24837

1414131114 DEWAN MOTORS PVT. LTD 7600

2,619,165

GL CODE CREDITORS FOR CONSTRUCTION

1413121120 MAJEED (LABOUR) 46,958

1413121132 FARHAN MUNIR & COMPANY CONTRACTORS-GODOWN 1,839,718

1413121133 FARHAN MUNIR & COMPANY CONTRACTORS- BIN 369,871

1413121131 MAQSOOD AHMAD PAINT CONTRACTOR -

2,256,547

TOTAL - CREDITORS FOR STORES

TOTAL- CREDITORS FOR CONSTRUCTION

GL CODE CREDITORS FOR INSURANCE

1413131112 JUBILEE GENERAL INSURANCE CO. LTD -

1413131116 ADAMJEE INSURANCE CO LTD. -

1413131111 HABIB INSURANCE COMPANY LTD -

1413131113 PREMIER INSURANCE LTD -

1413131114 IGI INSURANCE LTD -

-

GL CODE PADDY CREDITORS

1413141243 GHULAM JAFFAR ALI 42,305

1413141179 CHAUDRY DIN HUMAHHAD & SONS SARGODHA 78,499

1413141253 MUHAMMAD NAWAZ 2,600

1413141158 MUHAMMAD ASGHAR ALI 0

1413141168 HAJI ABDUAL RASHEED & COMPANY 139,858

1413141199 MUHAMMAD SAJJAD HUSSAIN 75,929

1413141246 SHEIKH DANYAL 12,400

1413141244 MUHAMMAD IQBAL 25,191

1413141133 REHMAT ULLAH ADA MUHAMMAD WALA CHINIOT 8,526

1413141230 GHULAM MUSTAFA - PEER MAHAL 8,450

1413141254 MUHAMMAD HAMEED (PADDY) 22,000

1413141152 KARAM RICE CORPORATION (KAMOKE) 316

1413141205 SHEHZAD IQBAL (MANDI BHAODIN) 210,399

1413141149 MALIK ZAFAR ABBAS (SHAH JUWINA) 56,718

1413141140 NAIMAT ULLAH COMMISSION SHOP 18,189

1413141221 CHEEMA TRADERS 1

1413141222 SHAN MUHAMMAD 12,550

1413141200 AL-MURSALEEN TRADERS(SHAHJONA) 36,474

1413141242 MUHAMMAD SHARIF (PADDY) 101,821

1413141189 JAVED TRADERS (ADA SHEIKHIAN) 10,725

1413141252 KHAN ENTERPRISES 79,151

1413141135 USMAN SHERAZI 4

1413141137 ABDUL GHAFOOR MLAHI & CO 0

1413141211 AWAISI COMMISSION SHOP 40,357

1413141209 SAQIB COMMISSION SHOP 11,318

1413141225 GHULAM MUSTAFA - SHAHKOT 0

1413141224 ZAFAR ABBAS BHATTI & ADNAN ZAFAR 0

1413141212 ABDULLAH & CO 500

1413141183 EMAN TRADERS 4

1413141136 ABU BAKAR RICE BROKER 51,661

1413141219 KHIZER HAYAT SUPRA 0

1413141228 MAKKI & SONS - HAFIZABAD 300

1413141146 MUHAMMAD ALI 9,940

1413141239 FAKHAR THABAL & CO 9,999

1413141247 KHALEEQ UR REHMAN 38,000

TOTAL- CREDITORS FOR INSURANCE

1413141235 MUHAMMAD RIAZ - SAYAL MOR 0

1413141139 HUSNAIN COMMISSION SHOP (KHAN KAH DOGRA) 1

1413141232 AMJAD ABBAS S/O SARANG KHAN 5,000

1413141256 MEHMOOD MUSTAFA 15,050

1413141202 MUHAMMAD WARIS (LALIYAN) 97,204

1413141208 TARIQ SALEEM RICE TRADERS 26,213

1413141217 MALIK COMMISSION SHOP (KALYKI) 69,011

1413141220 AMJAD KHAN 9,720

1413141226 MIAN SHAHZAD AHMED 14,300

1413141129 MUHAMMAD ARSHAD TRADERS 4,999

1413141177 ZULIFQAR ALI 0

1413141245 HAJI MUHAMMAD YAQOOB 5,000

1413141233 SHEIKH SAIF ULLAH 6,200

1413141249 MOHSIN IQBAL 8,000

1413141125 MUHAMMAD NAWAZ QADRI 6,035

1413141145 MALIK SAQIB HUSSAIN & COMPANY 71,400

1413141114 BILAL RICE CORPORATION 0

1413141176 GEO TRADERS 126,328

1413141174 AMANULLAH KHAN 1,600

1413141147 NAVEED ASLAM 5,950

1413141160 ABDULALLAH TRADERS(SHAKOT) 12,070

1413141207 ALMURSALEEN TRADERS 1

1413141122 A.S RICE CORPORATION 2

1413141229 CHOUDHARY TRADERS - FAROQA ROAD, SARGODHA 60,983

1413141215 WASEEM TRADERS 48

1413141223 MUHAMMAD RIAZ - MURIDKE 0

1413141240 MUHAMMAD MANSOOR (PADDY) 32,362

1413141167 ABID ALI (PINDIBHUTIAN HAFAZABAD) 0

1413141238 AHMED TRADERS - JHANG 5,600

1413141234 ALLAH BAKSH AWAN 14,600

1413141169 MUHAMMAD USMAN (ADA PANWA) 0

1413141251 NEW AL-MADINA COMMISSION SHOP 131,962

1413141131 SHERAZ TRADERS CHINIOT 29,030

1413141198 MUHAMMAD KHALID COMMISSION SHOP 2

1413141161 HAJI NAZIR AHMED (KHAN KAN DOGRAN) 7,989

1413141236 AL HARAM TRADERS - JHANG 11,902

1413141231 REHMAN RICE TRADERS 5,000

1413141204 AMJAD ALI (MUHAMMADWALA) 0

1413141250 MUHAMMAD AKRAM 0

1413141214 RAB NAWAZ 14,800

1413141257 MUHAMMAD RAMZAN (SHAH JUNA) 0

1413141124 TAYYAB TRADERS 11,297

1413141118 GHULAM ABBAS 1,690

1413141227 MALIK GALIB HUSSAIN - SUKHEKE 17,424

1413141216 SHEIKH WAHEED AHMAD 11,481

1413141241 GHULAM SHABBIR 38,680

1413141237 DANISH WAQAR - SHAHJEONA 12,900

1413141184 AL MAKKAH TRADING COMPANY 62,861

1413141141 BILAL TRADERS (WANDO) 0

1413141123 MOHAL ENTERPRISES 8,571

-

2,067,451

GL CODE RICE CREDITORS

1413151123 SHEIKH MUHAMMAD TUFAIL 2

1413151142 SINDHU TRADERS STOCKIST 0

1413151113 ANWAR FARID 52,890

1413151129 HAZAR RICE MILLS 2

1413151126 AL NOOR RICE DEALERS & COMMISSION AGENTS 13,095

1413151141 AKRAM TRADERS 2

1413151111 REEM RICE MILLS (PVT) LTD 0

1413151115 KHALID MEHMOOD SHERAZI 0

1413151112 M. AFZAL 3,451

1413151117 MUHAMMAD IQBAL ANJUM 0

1413151140 GHOSE MUHAMMAD & SONS 110,828

1413151138 MADINA COTTON FACTORY 1

1413151135 FARID AHMAD 0

180,271

GL CODE EXPORT RELATED CREDITORS

1413181112 BEHRAM TEHMURAS KAKALIA 0

1413181113 APL CO PTE LTD 0

1413181120 SCL PAKISTAN 0

1413181116 ITTEFAQ SHALMANI GOODS 0

1413181118 JP BRUN (COMMISSION A/C) 379,525

1413181119 UNITED ARAB SHIPPING AGENCY COMPANY PAKISTAN (PVT) LT 0

1413181114 PEGASUS MARITIME PAKISTAN (PVT) LTD 3

1413181117 SGS PAKISTAN (PVT) LTD 26,440

405,968

GL CODE OTHER CREDITORS

1413201142 S.A.SALAM PUBLICATION 2,300

1413201113 FARHAN MUNIR & COMPANY CONTRACTORS-ROADS 70,038

1413201128 PERVAIZ UMER ENTERPRISE 28,046

1413201129 IDEAL BUILDERS AND SEALES 269,252

1413201116 CORPORATE GENERAL SOLUTIONS (PVT) LTD 115,000

1413201136 ASIF ENTERPRISES 0

1413201139 ASGHAR & SONS (PVT.) LTD 1,814

1413201117 INDUSTRIAL ERECTORS 0

1413201119 SHAHKOT KARACHI GOODS 3,750

1413201158 ELECTRONIC LINKS 0

TOTAL- EXPORT RELATED CREDITORS

TOTAL- PADDY CREDITORS

TOTAL- RICE CREDITORS

1413201149 MUHAMMAD SHAHAZ BARDANA 200,000

1413201154 NADEEM 8,500

1413201152 INTERNATIONAL CREDIT INFORMATION LTD 43,740

742,440

GL CODE PAYABLE TO ASSOCIATED UNDERTAKINGS

1412111111 IDEAL IMPEX 16,671,047

1412111117 ARSHAD CORPORATION (PVT) LTD 114,031

1412111122 IDEAL SPINNING MILLS LTD (SPNING) 390,272

17,175,350

25,447,192

GL CODE ACCRUED MARK-UP

1414111116 MARK-UP PAYABLE 6,574,277

6,574,277

GL CODE WPPF PAYABLE

1414111123 WPPF PAYABLE 56,045

56,045

GL CODE ACCRUED LIABILITIES

1414111113 SALARY AND WAGES PAYABLE-2 600,866

1414111111 UNPAID SALARIES 160,493

1414111115 EOBI PAYABLE 3,240

1414111117 SOCIAL SECURITY PAYABLE 17,496

1414111112 TELEPHONE BILL PAYABLE 25,978

1414111118 AUDIT FEE PAYABLE 75,000

1414111119 INCOME TAX P/A (35,408)

1414111114 SALARY AND WAGES PAYABLE 672,057

1,519,722

OTHER LIABILITIES

GL CODE SALES TAX WITHELD

1414141155 S.TAX WITHHELD DIGITECH DIGITAL TECHNOLOGY (UN REG) 615

1414141140 S.TAX WITHHELD MAQBOOL & SONS (UNREGISTERED) 6650

1414141143 S.TAX WITHHELD MADINA MILL STORE (UN REG) 11,686

1414141150 S.TAX WITHHELD ELECTRIC & ELECTRIC CONCERN (UN REG) 650

1414141147 S.TAX WITHHELD UNIQUE DRAWING & STATIONER (UN REG) 193

1414141153 S.TAX WITHHELD HAIDER COMPUTER & STATIONER (UN REG) 5,958

TOTAL- ACCRUED EXPENSES

TOTAL- OTHER CREDITORS

GRAND TOTAL- TRADE CREDITORS

1414141161 S.TAX WITHHELD INTERA ENERGY SOLUTIONS 3,862

1414141158 S.TAX WITHHELD SHAKEEL TRADERS (UN REG) 182

1414141141 S.TAX WITHHELD PIONEER ELECTRIC COMPANY (UN REG) 2,650

1414141152 S.TAX WITHHELD NEW DIGITAL COMPUTER SERVICES (UN REG 5,780

1414141163 S.TAX WITHHELD COMFORT HOUSE 1,090

1414141154 S.TAX WITHHELD HAFIZ INDUSTRIAL STORE (UN REG) 11,218

1414141119 S.TAX WITHHELD-ORIENT ENERGY SYSTEMS (PVT) LTD

1414141128 S.TAX WORLD LINK (UNREGISTER) 461

1414141145 S.TAX WITHHELD HAFIZ ELECTRIC CONCERN (UN REG) 13,747

1414141139 S.TAX WITHHELD ANJUM MILL STORE (UNREGISTERED) 2,796

1414141142 S.TAX WITHHELD PAKISTAN CHAIN STORE ( UN REG) 2,653

1414141159 S.TAX WITHHELD B.M CORPORATION 57

1414141149 S.TAX WITHHELD JAVAID ANTI FIRE CORPORATION (UN REG) 8,661

1414141160 S.TAX WITHHELD JAWAD TRADERS (UN REG) 1,287

1414141116 S.TAX WITHHELD-JUBILEE GENERAL INSURANCE COMPANY LT 148

1414141156 S.TAX WITHHELD BILAL TRADERS 2,428

1414141122 S.TAX WITHHELD- SALEEM PLASTIC 1,462

1414141148 S.TAX WITHHELD HAMZA INDUSTRIAL STORE (UN REG) 3,633

1414141162 S.TAX WITHHELD MATADOR TECHNICAL SYSTEMS (UN REG) 901

1414141131 S.TAX WITHHELD FAST CABLES LTD -4

1414141115 S.TAX WITHHELD-HABIB INSURANCE COMPANY LTD -1

1414141124 S.TAX WITHHELD- S.N INDUSTRIAL CORPORATION (990)

1414141114 S.TAX WITHHELD-PREMIER INSURANCE LTD 0

1414141135 S.TAX W.H POLICE FOUJI GENERAL STORE (UN REG.) 5,155

1414141146 S.TAX WITHHELD NAFEES BOOK DEPOT & STATIONERS 5,071

1414141136 S.TAX W.HELD AL RAZIQ TRADERS (UNREGISTER) 1,151

1414141113 S.TAX WITHHELD-BEHRAM TEHMURAS KAKALIA 2

1414141123 S.TAX WITHHELD SUPERIOR THREAD 9,690

1414141157 S.TAX WITHHELD PAK DIAMOND INDUSTRIAL SALE 2,525

1414141144 S.TAX WITHHELD TAIMOOR TRADERS (UN REG) 7,234

1414141114 S.TAX WITHHELD-PREMIER INSURANCE LTD (13)

1414141117 S.TAX WITHHELD-IGI INSURANCE LTD (264)

1414141118 S.TAX WITHHELD- ABCO TECHNICAL (PVT.) LTD (1,226)

1414141151 S.TAX WITHHELD ITTFAQ STEEL CORPORATION (UN REG) 251

117,349

GL CODE WITHHOLDING INCOME TAXES PAYABLE

1414121174 W.H.T P/A IDEAL SPINNING MILLS LTD

1414121169 W.H.T P/A SH. WILAYAT AHMED & SONS\ 5,616

1414121198 W.H.T P/A ITTFAQ STEEL CORPORATION 59

1414121115 W.H.T P/A NEW DIGITAL COMPUTER SERVICES 1

1414121114 W.H.T P/A B.M CORPORATION 97

1414121166 W.H.T P/A NEW ALLIED INDUSTRIES 2

1414121170 W.H.T P/A ISHTIAQ STEEL INDUSTRY 145,600

1414121171 W.H.T P/A MASOOD FAROOQ INDUSTRIES 3,168

1414121181 W.H.T P/A GLOBAL PEST MANAGEMENT & FUMIGATION SERVI 3,430

TOTAL- SALES TAX WITHHELD

1414121155 W.H.T P/A STAR COMPUTER & STATIONERY -224

1414121213 W.H.T P/A FINE BOOKS 447

1414121118 W.H.T P/A PIONEER ELECTRIC COMPANY -1

1414121183 W.H.T P/A MAKKAH AUTO CAR 1,190

1414121184 W.H.T P/A SUPERIOR THREAD 4,380

1414121203 W.H.T P/A DIGITECH DIGITAL TECHNOLOGY 145

1414121162 W.H.T P/A FINE OFFICE PRODUCTS 224

1414121112 W.H.T P/A FAZAL ENTERPRISES 85

1414121113 W.H.T P/A PAKASIA MILL STORE 1

1414121159 W.H.T P/A SHAHEEN PLASTIC 4,183

1414121153 W.H.T P/A AB & CO 1,246

1414121160 W.H.T P/A TYRE HOUSE 1,080

170,729

288,078

GL CODE OTHERS

1414131112 BLUECHIP TRAVEL & TOURS 311,133

311,133

599,211

ADVANCES FROM CUSTOMERS

GL CODE LOCAL

2913111158 MUHAMMAD WASEEM SHAHZAD 176

2913111140 BILAL RICE TRADERS 22,002

2913111127 FAISAL RICE TRADERS 4,149

2913111161 YASIR & CO 1,485

2913111119 NAVEED & CO - C/O HAFIZ SB MUREDKE 1,805,831

2913111200 IRFAN YASIN RICE BROKER 1,276,988

2913111163 USMANI COMMISSION SHOP 0

2913111171 AL WAHAB RICE TRADERS 2,102

2913111181 ATLAS RICE MILL (KAMOKI) 1

2913111182 SM ENTERPRISES - LAHORE. 723,121

2913111125 MEHERBAN & COMPANY

2913111128 MIAN ABDUL SATTAR & CO 17,415

2913111138 SAVOUR RICE MILLS 2,231

2913111129 KISAN RICE TRADERS 37,965

2913111135 SOOFI PAK BASMATI 34

2913111130 ENGRO EXIMP (RICE INDUSTERIES ) 6,644

2913111122 SUPER RICE KAMOKE 4,323

2913111144 IHSAN RASHEED 41

2913111133 MUSHTAQ C/O AJMAL 2,657

2913111145 Shahid & Co.(Rawalpandi) 328

TOTAL-WITHHOLDING INCOME TAXES PAYABLE

TOTAL- OTHER LIABILITIES

GRAND TOTAL- OTHER LIABILITIES

2913131286 NOORI TRADERS 5,739

2913131276 IJAZ KARYANA STORE 6,209

2913131194 KABIR TRADING COMPANY 2,025

2913131174 SHAHZAD & CO (HAFIZABAD) 4,796

2913131220 TARIQ SAEED BUTT 2,184

2913131219 MUNIR AHMAD 9,008

2913131158 K.P.A TRADERS 837

2913131181 GORYA BROTHERS (MURIDKE) 2,562

2913131244 IHSAN BUTT 364,229

2913131186 SHIEKH NAJEEB ULLAH 653,833

2913131131 ASIF YOUSAF & CO. 62,452

2913131267 MUHAMMAD FAROOQ JHANG 2,125

2913131274 JAVAID SULTAN FSD 1

2913131216 AFTAB FEED MILLS 24,742

2913131283 SHAHID 5,665

2913131159 SHEIKH ALLAH DITTA 223,001

2913131255 MIAN SALAHUDDIN JARANWALA 3

2913131192 AL REHMAN RICE TRADERS KAMOKI 13,198

2913131279 ZEESHAN TRADERS KAMONKI 5,700

2913131239 SHEIKH ASHRAF (FSD) 19,000

2913131198 HYDARABAD RICE TRADERS 0

2913131185 FAHAD RICE CORPORATION 317,297

2913131268 BAHI BAHI RICE MILL 1,700

2913131254 QARI TAYYAB 3,187

2913131236 FURQAN RICE TRADERS 704

2913131201 RAI COMMISSION SHOP JALPUR BHATTIAN 3,602

2913131157 SALEEM RAZA 16,383

2913131258 AL JANNAT RICE TRADERS 1,160,001

2913131272 SHAHID RICE STORE 525

2913131243 HAJI GHULAM QADIR & SONS 1,662

2913131275 HAFIZ RICE MILL 3,650

2913131261 RICE KING RICE 359,835

1413171122 CHAUDHARY CORPORATION 648

7,183,996

GL CODE FOREIGN

2913121111 NOOR ASIA GENERAL TRADING CO. SHARJAH 0

0

7,183,996

SHORT TERM FINANCING

GL CODE FROM FINANCIAL INSTITUTIONS

1411111111 BANK ALFLAH CF-RICE PLEDGE LOAN A/C # 01130024 117,596,983

TOTAL- LOCAL

TOTAL- FOREIGN

GRAND TOTAL- ADVANCES FROM CUSTOMERS

117,596,983

GL CODE FROM ASSOCIATES

317,754,295

#REF!

PROPERTY, PLANT & EQUIPMENTS

GL CODE LAND

2111111111 LAND-OWNED 35,549,870

35,549,870

GL CODE BUILDING

2111121113 PORTABLE HOUSE 2,117,000

2111121114 GODOWNS,BOUNDRY WALL & PADDY PALTE FORM 19,525,202

2111121111 BUILDING-OWNED 70,296,752

91,938,954

GL CODE PLANT AND MACHINERY

2111131143 MACHINERY STRUCTURE 150,034,941

2111131157 RUCE PARBOILING PLANT 32-TON 8,239,338

2111131155 HEAT EXCHANGER 290,000

2111131136 PADDY DRIER COMPLETE UNIT 152,200

2111131139 SCREW CONVERYER & BUCKET ELEVATORS 767,800

2111131135 BOILER WITH HUSK ELEVATOR 620,000

2111131156 Water R/O plant 4,629,778

164,734,057

GL CODE COMPUTERS AND MOBILE PHONES

2111141111 COMPUTER & ACCESSORIES 2,223,199

2111141115 REMISE SOFTWARE 650,000

2,873,199

GL CODE GENERATORS

2111151111 GENERATOR -C400 D5 KVA PR 4,250,000

2111151112 GENERATOR 550 KVA 6,200,000

10,450,000

GRAND TOTAL- SHORT TERM BORROWINGS

TOTAL- LAND

TOTAL- BUILDINGS

TOTAL- PLANT AND MACHINERY

TOTAL- COMPUTERS AND MOBILES

TOTAL-GENEATORS

TOTAL-FROM FINANCIAL INSTITUTIONS

TOTAL-FROM ASSOCIATED

GL CODE ELECTRIC EQUIPMENTS

2111161130 AC SPLIT 1.5 TON 161,995

2111161111 ELECTRIC EQUIPMENTS 15,184,509

2111161132 SYNCHRONIZING PANEL 1,100,000

2111161121 LIGHTS 390,000

2111161112 UPS 18,000

16,854,504

GL CODE OFFICE EQUIPMENTS

2111171116 OFFICE EQUIPMENT 217,979

217,979

GL CODE ELECTRIC INSTALLATIONS

2111181111 ELECTRIC CABLES & INSTALATION 1,158,708

1,158,708

GL CODE FURNITURE & FIXTURES

2111191111 FURNITURE & FIXTURE 796,729

796,729

GL CODE TOOLS AND EQUIPMENTS

2111201111 TOOLS AND EQUIPMENT 513,416

2111201117 Walki Talki set 91,000

604,416

GL CODE VEHICLES

2111221118 SUZUKI MEHRAN SB308 VXR 796 CC- LED-11-3067 596,560

2111221113 CYCLES 12,100

2111221131 AUDI A5 SPORTBACK 1.8TFSI,-YS 300 7,582,484

2111221130 BMW 3161 LIMOUSINE RHD 4 CYLINDERS 1590 CC 7,297,828

2111221119 SUZUKI MOTORCYCLE 150 CC - LEM-11A-7200 136,101

2111221132 COROLLA GLI 488W 1299CC WK-620 1,738,274

2111221121 TRACTOR 546,927

2111221111 HONDA CIVIC- LED-11-900 2,093,855

2111221120 SHEHZORE LES-3222 839,000

2111221129 HONDA CD 70 69,180

2111221123 SUZUKI BALENO LRU-4274 460,000

2111221112 COROLLA XLI ( WHITE ) 1,426,288

2111221127 CULTUS VXR EURO II-MODEL 2012, REF# LEE-12-5107 989,350

2111221128 POWER VAN RHD ( 1300 CC) LEA-13-2939 1,104,334

2111221116 HINO TRUCK DUTRO 2,530,800

2111221126 COROLLA XLI 488W 1299CC LED-12-2588 1,528,890

2111221124 TOYOTA COROLLA FS-400 450,000

TOTAL- ELECTRIC INSTALLATIONS

TOTAL- FURNITURE & FIXTURES

TOTAL- TOOLS AND EQUIPMENTS

TOTAL- ELECTRIC EQUIPMENTS

TOTAL- OFFICE EQUIPMENTS

2111221117 SUZUKI BOLAN 682,000

30,083,971

GL CODE GENERAL ASSETS

2111261117 JUTE TWIN 1,800

2111261112 TARPALS 2,149,558

2111261113 TENTS 61,660

2111261114 WATER TANK 485,000

2111261115 PLATES 1,395,025

2111261116 JUTE BAGS 9,933,000

14,026,043

#REF!

GL CODE ACCUMULATED DEPRECEIATION

2112111117 ACCUM-DEPRECIATION ON TOOLS & EQUIPMENT 144,752

2112111116 ACCUM-DEPRECIATION ON COMPUTER & IT INSTALATION 1,644,685

2112111114 ACCUM-DEPRECIATION ON ELECTRIC EQUIPMENT 4,426,467

2112111121 ACCUM DEPRECIATION - PACKING AND OTHER 3,474,254

2112111119 ACCUM-DEPRECIATION ON ARMS & AMMUNITION 57,492

2112111118 ACCUM-DEPRECIATION ON FURNITURE & FIXTURE 390,187

2112111113 ACCUM-DEPRECIATION ON PLANT & MACHINERY 25,314,477

2112111115 ACCUM-DEPRECIATION ON OFFICE EQUIPMENT 62,884

2112111120 ACCUM DEPRECIATION-VEHICLES 9,117,492

2112111123 ACCUM DEPRECIATION OF GENERATOR 1,065,688

2112111112 ACCUM-DEPRECIATION ON BUILDING 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

-

#REF!

GL CODE LONG TERM DEPOSITS

2711111114 ORBIT FOOD & BEVEARAGES COMPANY 1,500

2711111115 MOBILINK SEPOSIT 4,500

2711111111 SECURITY WITH WAPDA 2,871,041

TOTAL- ACCUMULATED DEPRECIATION

TOTAL- CWIP PLANT & MACHINERY

GRAND TOTAL- CAPITAL WPRK IN PROGRESS

TOTAL- VEHICLES

TOTAL- GENERAL ASSETS

GRAND TOTAL- OTHER ASSETS

GRAND TOTAL- PROPERTY, PLANT & EQUIPMENT

2,877,041

STOCK IN TRADE

GL CODE RAW MATERIAL

2911111131 STOCK OF PADDY -

461,258,103

GL CODE WORK IN PROCESS

2911131111 WORK IN PROCESS- RICE 2,082,677

2,082,677

GL CODE FINISHED GOODS

2911121122 STOCK OF HEAD RICE 461,258,103

2912111116 STORE & SPARES PACKING 4,000,835

2912111112 STORE & SPARES ACCESSORIES 2,292,461

2912111114 STORE & SPARES STATIONERY 147,697

2912111121 STORE & SPARES OIL & LUBRICANTS 75,947

2111261116 JUTE BAGS 2,149,558

2111261112 TARPALS 9,933,000

2912111123 STORE & SPARES COMMERCIAL 59,599

18,659,097

GL CODE STORES, SPARES & LOOSE TOOLS

2912111118 STORE & SPARES GENERAL 1,233,167

2912111120 STORE & SPARES TOOLS 90,947

2912111115 STORE & SPARES ELECTRIC/ELECTRONICS 1,917,895

2912111119 STORE & SPARES CONSTRUCTION/BUILDING 341,163

2912111117 STORE & SPARES GENERAL HARD WARE 184,636

3,767,808

22,426,905

GL CODE

2913111126 ISHAQ SIZING 93,645

2913111119 NAVEED & CO - C/O HAFIZ SB MUREDKE

2913111111 AMIR RICE TRADERS 6,969,995

2913111192 KOUSAR RICE MILLS 1

GRAND TOTAL- STOCK IN TRDAE

TOTAL -STORES & SPARES

TRADE DEBTORS

LOCAL

GRAND TOTAL- LONG TERM DEPOSITS

TOTAL- RAW MATERIAL

TOTAL- WORK IN PROCESS

2913111163 USMANI COMMISSION SHOP 1

2913111171 AL WAHAB RICE TRADERS

2913111184 RANA ASHFAQ 1

2913111141 KHALASA COMMISSION SHOP 197,988

2913111190 AL SYED TRADERS 20

2913111125 MEHERBAN & COMPANY 23,893

2913111136 NADEEM TRADERS 306

2913111115 SAFA ENTERPRISES 915

2913131224 TARIQ JAVAID 943

2913131159 SHEIKH ALLAH DITTA

2913131162 NEW SHAHID USMANI TRADER 3,657

2913131198 HYDARABAD RICE TRADERS 4,061

2913131161 QAZAFI TRADERS FAISALABAD 13,469

2913131265 HAIDER ALI RICE DEALER 18,118

2913131278 HAJI MAQSOOD BASRA 10,611

2913131140 DYNASTY RESTAURANT FSD. 286,665

2913131237 LAHORE RICE TRADERS 8,329

2913131271 RICE WORLD INTERNATIONAL 3

2913131280 GUARD RICE MILLS 3,639

2913131217 KHALID & CO 114,455

2913131252 SHOUKAT ALI (MARDAN) 1,273

7,751,988

GL CODE FOREIGN

2913121112 AL-MUHAIDIB FOODS CO. 178,227

2913121113 OASIS LOGISTICS LLC 42,959

2913121111 NOOR ASIA GENERAL TRADING CO. SHARJAH 1,320,254

2913121118 KUSHA INC. (USA) 623,929

2,165,369

#REF!

ADVANCES, DEPOSITS, PREPAYMENTS

GL CODE ADVANCES TO EMPLOYEES

2914111111 LIAQAT ALI 3,000

2914121210 SHAN MASIH 0

2914121257 WALAIT KHAN CODE#112 2,000

2914121171 FAIZAN AHMED OPERATOR 0

2914121230 MUHAMMAD NASIR GAWALA -COD# 210 0

2914121134 WAHAD QAMAR 2,000

2914121163 KAMRAN MILL OPERATOR 0

2914121137 AMIR JAVID 0

TOTAL- LOCAL DEBTOTS

TOTAL- FOREIGN DEBTORS

GRAND TOTAL- TRADE DEBTORS

2914121142 SHABBIR AHMED 2,650

2914121125 ABU BAKAR 0

2914121244 ILYAS MASIH CODE #235 1,500

2914121144 GHAFOOR IQBAL 0

2914121141 AYOUB RAHEEM 135,935

2914121121 MUJHAD HUSSAIN - COOK 0

2914121203 FAKHAR ABBAS 875

2914121149 MUHAMMAD ADEEL SHEIKH 11,535

2914121113 SAQIB ALI 4,800

2914121242 IMRAN (WELDER) 2,000

2914121221 OWAN SHAH 0

2914121201 ARSHAD ELECTRICIAN 0

2914121235 NAJAM UL HASSAN (GODOWN) 2,000

2914121193 IRFAN MASIH 3,700

2914121150 NAZIR AHMED - RICE 0

2914121207 SAJID MAHMOOD COOK 1,500

2914121114 MAQSOOD AHMED -ADMIN 0

2914121138 MUHAMMAD ASLAM UMAR (OPERATOR/ELECTRICIAN) 2,000

2914121156 HABIB HUSSAIN 2,000

2914121198 MUSHTAQ AHMED S.G 7,950

2914121226 IMRAN MASIH #200 2,500

2914121232 ABDUL REHMAN GARDNER CODE # 220 4,000

2914121186 MUHAMMAD AZAM 0

2914121115 MUHAMMAD IDREES-MILLER 0

2914121116 MUHAMMAD SARWAR ( WELDER) 62

2914121224 MUHAMMAD YASIN #0199 0

2914121124 TAHIR MEHMOOD 0

2914121123 IFTKHAR AHMAD 0

2914121127 SADAQAT IQBAL 699

2914121227 QAISER ALI (GARDENER)#180 1,500

2914121140 ALLAH DITA 3,650

2914121152 MUDASSER IQBAL 812

2914121215 ANWAR UL HAQ (Security officer) Code#201 15,850

2914121191 DITA MASIH 0

2914121251 SYED ALI MOHSIN(TRAINEE) 2,000

2914121112 GHULAM MUSTAFA TABASUM 0

2914121246 LIAQAT ALI S.G (CODE # 173) 3,000

2914121245 ARIF ALI (S.G) CODE#100 1,500

2914121253 RIAZ HUSSAIN S.G S/O SARDAR 2,500

2914121119 MUHAMMAD ALI BURIRO 24,625

2914121165 SYED NAJAM UL HASSAN (ADMIN) 0

2914121188 SHAHID MEHMOOD 40,886

2914121180 QAMAR SHEHZAD LAB 0

2914121214 KASHAN -CIVIL ENG 0

2914121217 IFTIKHAR HUSSAIN KHAN CODE#205 0

2914121208 FARHAN MASIH HELPER 0

2914121158 BASHIR AHMED (SG) 0

2914121247 MUHAMMAD ANWAR (CASHIER) #237 9,250

2914121249 MUHAMMAD SALEEM(WORKSHOP) 2,000

2914121120 TARIQ SWEEPER 0

2914121239 NAZIR AHMAD - PLANT HELPER -1200

2914121237 SHAFAQAT SARWAR (1)

299,078

ADVANCES TO SUPPLIERS

GL CODE SUPPLIERS FOR STORES

1413111167 ORIENT ENERGY SYSTEMS (PVT) LTD 0

1413111227 NEW SHALIMAR INDUSTRIES (PVT) LTD 6,378

1413111220 SALEEM PLASTIC 3,670

1413111196 SHAHEEN PLASTIC 0

1413111128 MUHAMMAD ISHTIAQ PERVAIZ 0

1413111125 PIONEER CEMENT LIMITED 0

1413111190 MAKKAH AUTO CAR 0

1413111188 METRO-HABIB CASH & CARRY PAKISTAN (PVT) LTD 0

1413111169 MICRO TECH 1

1413111224 USMAN TRADERS 0

1413111223 IDEAL CORPORATION 1

1413111112 MADINA MILL STORE 0

1413111229 UNI-COMMERCE (PVT) LTD 1

1413111182 SUPPLY CHAIN BUSINESS SOLUTIONS 2,400

1413181120 SCL PAKISTAN 1

1413201167 G.M. AUTOS 1

1413201137 TOTAL QUALITY SYSTEMS 40,000

52,453

GL CODE SUPPLIERS FOR INSURANCE

1413131116 ADAMJEE INSURANCE CO LTD. -

-

GL CODE SUPPLIERS FOR PADDY

1413141158 MUHAMMAD ASGHAR ALI 703,395

1413141224 ZAFAR ABBAS BHATTI & ADNAN ZAFAR 1

1413141235 MUHAMMAD RIAZ - SAYAL MOR 1

1413141139 HUSNAIN COMMISSION SHOP (KHAN KAH DOGRA) 0

1413141114 BILAL RICE CORPORATION 1

1413141223 MUHAMMAD RIAZ - MURIDKE 1

1413141167 ABID ALI (PINDIBHUTIAN HAFAZABAD) 1

1413141169 MUHAMMAD USMAN (ADA PANWA) 1

1413141184 AL MAKKAH TRADING COMPANY 0

1413141141 BILAL TRADERS (WANDO) 3

TOTAL-SUPPLIERS FOR STORES

TOTAL- ADVANCES TO EMPLOYEES

TOTAL- SUPPLIERS FOR INSURANCE

703,404

GL CODE SUPPLIERS FOR RICE

1413151142 SINDHU TRADERS STOCKIST 8,326,681

1413151111 REEM RICE MILLS (PVT) LTD 224,506

1413151115 KHALID MEHMOOD SHERAZI 6,325,235

1413151117 MUHAMMAD IQBAL ANJUM 86

14,876,508

15,632,365

GL CODE PREPAYMENTS

2914131111 PREPAID INSURANCE 145,946

Preoaid property tax 316,056

462,002

16,393,445

GL CODE OTHER RECEIVABLES

2915111111 SALES TAX RECEIVABLES 2,112,020

1212111111 IDEAL FIBERS (PVT.) LTD 26,530

1412111121 IDEAL SPINNING MILL LTD (BOILER) 30,600

2913121120 IDEAL OVERSEAS GENERAL TRADING 15,600

72,730

TOTAL- SALES TAX RECEIVABLES 2,112,020

GL CODE INCOME TAX RECEIVABLES

2915151111 INCOME TAX RECEIVABLE 4,230,154

4,230,154

GL CODE W.H.T DEDUCTED AT SOURCE

2915121119 W.H.T HELD WITH UNITED BANK LTD 3,570

2915121117 W.H.T HELD WITH ALLIED BANK A/C#00100050919-001-1 7,399

2915121118 W.H.T HELD WITH MCB A.C#0523740551000085 2,850

2915121123 W.H.T HELD- BANK AL-HABIB A/C# 0122-0081-000475-01-9 4,950

2915121120 W.H.T HELD WIHT ALLIED -IFL A/C # 0010005091970028 10,275

2915121126 W.H.T ON ELECTRIC BILLS 698,199

2915121111 W.H.T HELD WITH BANK ALFALAH(3992) 43,010

2915121127 W.H.T HELD WITH BOP-4524-5 4,500

2915121116 W.H.T ON REGISTRATION OF VEHICLES 1,750

2915121121 W.H.T ON MOBILE # 03003408884 216

2915121122 W.H.T ON MOBILE # 03003404555 1,979

2915121125 W.H.TAX ON IMPORT OF MACHINERY 383,229

TOTAL- PREPAYMENTS

GRAND TOTAL- ADVANCES, DEPOSITS & PREPAYMENTS

TOTAL- INCOME TAX RECEIVABLE

TOTAL-SUPPLIERS FOR PADDY

TOTAL-SUPPLIERS FOR RICE

TOTAL- ADVANCES TO SUPPLIERS

2915121112 W.H.T ON TELEPHONE BILLS 9,140

2915121115 W.H.T ON EXPORTS 2,606,082

3,777,149

#REF!

CASH AND BANK BALANCES

GL CODE CASH IN HAND

2916111111 CASH AT SITE 3,503,450

2916111112 PETTY CASH 8,350

2916111118 CASH IN HAND ANWAR (S.O) 10,000

3,521,800

GL CODE CASH AT BANK

2916121116 NATIONAL BANK OF PAKISTAN A/C# 237-5 223,734

2916121113 MCB FSD A/C# 0523740551000085 15,995

2916121121 ALLIED BANK LTD A/C#001-000509197-001-1 1,318,240

2916121117 BANK ALFALAH KARACHI A/C# 0005-01359118 3,635

2916121125 BANK ALFALAH A/C# 01032811 2,052

2916121132 THE BANK OF KHYBER A/C # 485-00-8 22,963

2916121129 UNITED BANK LTD. A/C 201811461 824,728

2916121128 HABIB METROPOLITAN BANK LTD. A/C # 20311-181851 80,983

2916121130 BANK AL HABIB LIMITED A/C # 0122-0081-000475-01-9 195,711

2916121115 MCB LHR( A/C#0524114061000500) 18,926

2916121112 BANK ALFALAH A/C# 0054- 01003992 1,084,175

2916121114 BOP-AC#4524-5 85,350

2916121118 HSBC A/C# 007-011034-001

2916121124 ALLIED BANK LTD(IFL,38KM,SHEIKHUPURA RD FSD) 40,535

2916121131 SONERI BANK A/C#008-02012193129 13,581

3,930,608

7,452,408

SALES

GL CODE EXPORT SALES

3111111138 EXPORT SALES-AL KARAM & AL ZAIN BRAND 7,411,887

3111111124 EXPORT SALES AL MUDYAF LONG GRAIN WHITE 89,292,579

3111111137 EXPORT SALES SUPER KARNAL BASMATI PROCESSED WHITE 50,278,693

3111111126 EXPORT SALES KARWAN BRAND 21,385,588

3711171111 FOREIGN EXCHANGE GAIN/ LOSS 9,390,367

177,759,114

TROTAL- CASH IN HAND

TOTAL- CASH AT BANK

GRAND TOTAL- CASH & BANK BALANCES

TOTAL- EXPORT SALES

TOTAL- WHT DEDUCTED AT SOURCE

GRAND TOTAL- OTHER RECEIVABLE

LOCAL SALES

GL CODE LOCAL SALES SUPER KERNAL

3112111127 LOCAL SALES - SUPER KARNAL BASMATI WAND RAW 10,327,525

3112111112 LOCAL SALES SUPER KARNAL BASMATI PROCESSED 12,467,580

3112111113 LOCAL SALES SUPER BASMATI DOUBLE POLISHED WAND 112,792,590

3112111126 LOCAL SALES IDEAL SUPER KARNAL 1,157,640

136,745,335

GL CODE LOCAL SALES - B-385

3112121113 LOCAL SALES IDEAL CLASSIC 704,520

3112121111 LOCAL SALES B-385 RAW 1,132,970

3112121112 LOCAL SALES B-385 WHITE PROCESSED 1,356,088

3,193,578

GL CODE LOCAL SALES - PK-386

3112131111 LOCAL SALES PK-386 RAW 142,387,284

3112131112 LOCAL SALES PK-386 PROCESSED 1,357,900

3112131117 LOCAL SALES - PK 386 PROCESSED STEAM 3,376,988

147,122,172

GL CODE LOCAL SALES - C 1121

3112141117 LOCAL SALES - C-1121 PROCESSED STEAM 27,445,883

3112141112 LOCAL SALE C-1121 WHITE PROCESSED 48,881

3112141119 LOCAL SALES - C-1121 RAW STEAM 22,742,864

3112141120 LOCAL SALES - C-1121 RAW WHITE 403,178

3112141111 LOCAL SALE C-1121 PARBOILED RAW 21,533,623

3112141116 LOCAL SALES - C-1121 PROCESSED PARBOILED 2,804,476

74,978,905

GL CODE LOCAL SALES - KS 282

3112151116 LOCAL SALES - KS 282 PROCESSED STEAM 460,434

460,434

GL CODE LOCAL SALES- RICE SUPREE

3112161120 LOCAL SALES -RICE SUPREE WHITE 18,995,837

18,995,837

GL CODE LOCAL SALES- BRANDS & MIXED VARIETIES

3112191122 LOCAL SALES-BLEND SUPER WHITE+PK-386 (70%+30%) BLEN 233,616

3112191115 LOCAL SALES - IDEAL ROZANA 1,816,419

2,050,035

TOTAL- LOCAL SALES PK-386

TOTAL- LOCAL SALES C-1121

TOTAL- LOCAL SALES KS-282

TOTAL- LOCAL SALES RICE SUPREE

TOTAL-LOCAL SALES- BRANDS & MIXED VARIETIES

TOTAL- LOCAL SALES SUPER KERNAL

TOTAL- LOCAL SALES B-385

383,546,296

LOCAL SALES BY-PRODUCTS

GL CODE LOCAL SALES BY-PRODUCTS - SUPER

3113111116 LOCAL SALES SUPER SHORT GRAIN PROCESSED 3,106,125

3113111112 LOCAL SALES SUPER B-l l RAW 4,968,968

3113111130 LOCAL SALES SUPER SHERVILLED BROWN 780,876

3113111115 LOCAL SALES SUPER REJECTION 8,857,336

3113111111 LOCAL SALES SUPER B-l RAW 1,358,783

3113111117 LOCAL SALES OF B-III MIX 57,661

3113111119 LOCAL SALES SUPER B-I PROCESSED 7,760,532

3113111143 LOCAL SALES -SUPER REJECTION PROCESSED 4,751,870

3113111124 LOCAL SALES SUPER SHERVELLED 635,302

3113111120 LOCAL SALES SUPER B-II PROCESSED 15,134,365

3113111125 LOCAL SALES SUPER REJECTION + PK-386 126,368

47,538,186

GL CODE LOCAL SALES BY-PRODUCT - PK-386

3113171142 LOCAL SALES PK-386 PARBOILED PROCESSED SHORT GRAIN 171,640

3113131114 LOCAL SALES PK-386 REJECTION 2,372,100

3113131123 LOCAL SALES OF PK-386 B-l l l NAKU 1,356,369

3113131121 LOCAL SALES PK-386 B-II PROCESSED 3,014,051

3113171141 LOCAL SALES PK-386 PARBOILED PROCESSED REJECTION 533,520

3113131112 LOCAL SALES PK-386 B-II 7,856,088

3113171136 LOCAL SALES PK-386 SHORT GRAIN PROCESSED STEAM 188,719

3113131120 LOCAL SALES PK-386 SHORT GRAIN PROCESSED 1,625,732

3113131116 LOCAL SALES PK-386 SHORT GRAIN 1,602,825

3113171130 LOCAL SALES PK-386 B-I STEAM PROCESSED 206,663

3113131119 LOCAL SALES PK-386 B-I PROCESSED 3,129,524

3113131117 LOCAL SALES PK-386 B-III GOLI 1,046,925

23,104,156

GL CODE 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 8,533,571

3113141161 LOCAL SALES C-1121 B-III NAKKU STEAM PROCESSED 10,246

3113141163 LOCAL SALES C-1121 SHORT GRAIN STEAM PROCESSED 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

TOTAL-LOCAL SALES BY-PRODUCTS - SUPER

TOTAL-LOCAL SALES BY-PRODUCT - PK-386

TOTAL- LOCAL SALES HEAD RICE

3113141144 LOCAL SALES C-1121 B-I PARBOILED PROCESSED 25,725

3113141155 LOCAL SALES-C-1121 B-III NAKKU STEAM RAW 414,554

3113141159 LOCAL SALES-C-1121 B-I STEAM PROCESSED 4,397,976

3113141150 LOCAL SALES C-1121 REJECTION PARBOILED PROCESSED 111,081

32,144,039

GL CODE LOCAL SALES MIX BY PRODUCTS

3113191114 LOCAL SALES OF POWDER 4,158,088

3113191117 LOCAL SALES - MIX SUPER FINE B-I + PK 386 B-I 55,500

3113191111 LOCAL SALES OF HUSK 900,000

3113191113 LOCAL SALES OF TRASH 34,335

3113191128 LOCAL SALES POWDER PARBOILED 79,888

5,227,811

108,014,192

OTHER SALES

3114121114 PADDY/ RICE HANDLING INCOME 496,896

3114141113 SALE OF PACKING BAGS 155,667

652,563

492,213,051

669,972,165

PURCHASES

GL CODE PADDY PURCHASE

2911111114 PURCHASE PK-386 PADDY WET 195,265,776

2911111111 PURCHASE SUPER PADDY-WET 137,114,386

2911111129 WEIGHT DIFFERENCE ADJUSTMENT FOR PADDY A/C 1,091,903

2911111113 PURCHASE C-1121 PADDY-WET 120,797,894

2911111130 TOUCH ON PADDY PURCHASE 2,821,139

457,091,098

GL CODE RICE PURCHASE

2911121112 PURCHASE-PK-386 - RICE 8,460,898

2911121113 PURCHASE-C-1121 - RICE 3,033,100

2911121120 WEIGHT DIFFERENCE ADJUSTMENT FOR RICE A/C 17,550

2911121111 PURCHASE-SUPER KARNAL BASMATI-RICE 17,733,163

29,244,711

TOTAL SALES- BY PRODUCTS

TOTAL- OTHER SLES

GRAND TOTAL- SALES

TOTAL-PADDY PURCHASE

TOTAL-RICE PURCHASE

TOTAL-LOCAL SALES BY-PRODUCT - C-1121

TOTAL-LOCAL SALES MIX BY PRODUCTS

GL CODE STORES & SPARES CONSUMED

3311131111 STORE & SPARES ACCESSORIES CONSUMED 981,610

3311131113 STORE & SPARES GENERAL HARD WARE CONSUMED 212,118

3311131114 STORE & SPARES GENERAL CONSUMED 219,891

3311131117 STORE & SPARES COMMERCIAL CONSUMED 158,624

3311131119 STORE & SPARES PACKING MATERIAL CONSUMED 4,484,172

3311131112 STORE & SPARES ELECTRIC/ELECTRONIC CONSUMED 202,608

6,259,023

GL CODE RAW MATERIAL CONSUMED

3311151112 RICE CONSUMED 189,770,424

3311151113 PADDY CONSUMED 449,968,418

639,738,842

DIRECT EXPENSES

GL CODE HANDLING CHARGES

3312111111 PADDY & RICE HANDLING CHARGES(MIXED) 4,616,935

3312111112 HUSK PRESSING CHARGES 68,200

3312111113 export handling 2,850,443

4,685,135

GL CODE UTILITIES

3312121111 ELECTRICITY 11,920,640

3312121112 Fuel 6,555

11,927,195

GL CODE OIL AND LUBRICANTS

3312131111

3312131112 OIL AND LUBRICANTS 645,239

645,239

GL CODE REPAIRS & MAINTENANCE

3312141111 REPAIRS & MAINTENANCE MACHINERY 96,905

3312141112 REPAIRS & MAINTENANCE BUILDING 287,122

3312201112 BARDANA REAPIR EXPENSE 907,059

1,291,086

GL CODE LOCAL FREIGHT

3312151112 FREIGHT EXPENSE LOCAL-RICE 351,917

3312151113 FREIGHT EXPENSE LOCAL-STORE 278,330

3312151111 FREIGHT EXPENSE LOCAL-PADDY 47,100

TOTAL-RAW MATERIAL CONSUMED

TOTAL-HANDLING CHARGES

TOTAL-UTILITIES

TOTAL-GENERATOR & FUEL EXPENSES

TOTAL-REPAIRS & MAINTENANCE

TOTAL-STORES & SPARES CONSUMED

677,347

GL CODE INSURANCE

3312161112 INSURANCE 953,627

2915131111 FEDRAL EXCISE DUTY RECEIVABLE

953,627

GL CODE SALARY AND WAGES

3312171112 SALARIES AND WAGES-COST 2,464,268

3312171111 SALARIES AND WAGES-COST-2 3,126,244

5,590,512

GL CODE BOILER RUNNING EXPENSE

3511321111 BOILER RUNNING EXPENSE 834,063

834,063

GL CODE BROKERAGE EXPENSES

989,520

GL CODE DEPRECIATION

3312221111 DEPRECIATION 12,197,168

12,197,168

39,194,533

ADMINISTRATIVE EXPENSES

GL CODE STAFF SALARY & OTHER BENEFITS

3511121118 EMPLOYEES OLD-AGE BENEFITS 38,880

3511121111 SALARIES AND WAGES ADMIN-2 7,361,681

3511121117 SOCIAL SECURITY 240,102

3511121113 SALARIES AND WAGES ADMIN 4,077,076

3511301111 UNIFORM FOR EMPLOYEES 1,000

11,718,739

GL CODE POSTAGE & TELEGRAME

3511131111 POSTAGE & TELEGRAME EXPENSES 26,656

3511311112 MOBILE PHONE 22,405

3312121112 TELEPHONE EXPENSES 308,679

357,740

GRAND TOTAL- DIRECT EXPENSES

TOTAL-STAFF SALARY & OTHER BENEFITS

TOTAL-POSTAGE & TELEGRAME

TOTAL-INSURANCE

TOTAL-SALARY AND WAGES

TOTAL-BOILER RUNNING EXPENSES

TOTAL-BROKERAGE EXPENSES

TOTAL-DEPRECIATION

TOTAL-LOCAL FREIGHT

GL CODE TRAVELLING & CONVEYANCE ADMIN

3511141113 AUDITOR OUT OF POCKET EXPENSES 1,500

3511141111 TRAVELLING AND CONVEYANCE ADMIN 100,430

3511141112 VEHICLE R & M LED-12-2588 1,820

3511281111 DIRECTOR'S TRAVELLING EXPENSES 9,500

113,250

GL CODE PRINTING & STATIONERY

3511161113 PHOTO COPY EXPENSES 36,118

3511161112 PRINTING CHARGES 1,700

3511161111 STATIONERY CHARGES 157,637

195,455

GL CODE INSURANCE

3511191113 INSURANCE 949,237

3511191111 MARINE INSURANCE 117,079

949,237

GL CODE LEGAL & PROFESSIONAL CAHRGES

3511201111 LEGAL AND PROFESSIONAL CHARGES 24,570

3511201113 PROFESSIONAL TAX 75,000

99,570

GL CODE REPAIRS & MAINTANCE

3511221111 REPAIR AND MAINTENANCE 445,488

3511171111 COMPUTER REPAIR AND ACCESSORIES 94,002

Property tax 316056

539,490

3511151136 VEHICLE R/M LEE-12-5107 135,247

3511151146 VEHICLE REPAIR & M COOROLLA GLI, ISL-WK-620 19,700

3511151130 VEHICLE R & M FS-268(LIAQAT) 16,424

3511151114 VEHICLE R & M - LEK-6096 MOTORCYCLE 100

3511151121 VEHICLE R & M LES-09-3222 14,340

3511151142 VEHICLE R & M LEA-13-2939 510,856

3511151134 VEHICLE RUNNING & MAINTINANCE 58,372

3511151138 VEHICLE R/M FDA 1984 112,521

3511151129 VEHICLE R & M LED -11- 900 379,584

3511151116 VEHICLE R & M TRACTOR#1600 19,764

3511151115 VEHICLE R & M LE-11-8820 TOYOTA COROLLA XLI 754,435

3511151137 VEHICLE R & M LED-3067 10,890

3511151145 VEHICLE R & M BMW WF-300 126,941

3511151113 VEHICLE R & M LEC-8354- SUZUKI CULTUS 174,556

TOTAL-LEGAL & PROFESSIONAL CAHRGES

TOTAL-VEHICLE R & M LED-12-2588

TOTAL-PRINTING & STATIONERY

TOTAL-INSURANCE

3511151125 VEHICEL R & M LEE-08-300 397,403

3511151147 VEHICLE R & M AUDI CAR 73,350

3511151123 VEHICLE R & M LED-11-6875 7,500

3511151150 VEHICLE R & M YS-300 5,350

3511151132 VEHICLE R & M HINO TRUCK-LES-12-9548 7,500

3511151127 VEHICEL R & M FS-400 14,340

3511151141 VEHICLE R & M COROLLA GLI, ISL-WK-12-620 89,807

3511151143 VEHICLE R & M LWE 1717 (KASHIF) 12,500

3511151144 VEHICLE R & M FDO 2405 ( LIAQAT ALI) 22,320

2,963,800

GL CODE FEE & TAXES

3511231111 FEE & SUBSCRIPTIONS 1,686,341

3511231112 AUDIT FEE 70,000

3511231113 SALE TAX Assessment order 2,793,440

3511231113 SALE TAX EXPENSES 687,305

3511241117 FEDRAL EXCISE DUTY EXPENSES 174,949

5,412,035

GL CODE ENTERTAINMENT

3511251111 ENTERTAINMENT EXPENSES 423,692

3511291111 DIRECTOR'S ENTERTAINMENT 1,305,200

1,728,892

GL CODE DEPRECIATION

3511331111 DEPRECIATION 5,431,380

Amortization 5,417

5,431,380

GL CODE MISC. EXPENSES

3511241113 NEWS PAPERS & PRIODICALS 9,934

3511241116 DEBTORS WRITTEN OFF 62,774

3511241112 FUMIGATION 64,000

3511241111 MISCELLANEOUS EXPENSES 141,939

3511261111 CHARITY & DONATIONS 100

205,939

29,788,235

SELLING EXPENSES

GRAND TOTAL- ADMIN. EXPENSES

TOTAL-REPAIRS & MAINTANCE

TOTAL-FEE & TAXES

TOTAL-ENTERTAINMENT

TOTAL-DEPRECIATION

TOTAL- MISC. EXPENSES

GL CODE EXPORT FREIGHT CHARGES

3512141111 EXPORT FREIGHT RICE SEA FREIGHT 1,410,497

3512141112 EXPORT FREIGHT RICE LOCAL 2,600,000

export hanslinggg

4,010,497

GL CODE EXPORT DEVELOPMENT SURCHARGE

3711131111 EXPORT DEVELOPMENT SURCHARGE 636,135

636,135

GL CODE COMMISION ON EXPORT SALES

3312201111 OWN BROKERAGE EXPENSES 989,520

3711161111 COMMISSION ON EXPORT SALE 881,754

1,871,274

6,517,906

FINANCIAL EXPENSES

GL CODE BANK CHARGES

3711111111 BANK CHARGES 1,491,374

3711111115 FOREIGN BANK CHARGES ON RICE EXPORT 967,580

3711111113 MUCCADAM SERVICE CHARGES 384,533

2,843,487

GL CODE MARK-UP

3711121118 MARK-UP ON FAPC-1 (BANK ALFALAH ) OWN 1,569,872

3711121113 MARK-UP ON SHORT TERM CF-PLEDGE LOAN-BOP 6,765,413

3711121121 MARK-UP ON FAPC-1 (BOP) OWN 4,229,465

3711121112 MARK-UP ON SHORT TERM CF-PLEDGE LOAN-ALFALAH 22,426,688

3711121124 MARK UP ON CF-PLEDGE (UBL) 362,080

35,353,518

3711121123 MARK-UP ON TERM FINANCE -II BAL 1,354,553

3711121115 MARK-UP ON TERM FINANCE-1 382,085

3711121114 MARK-UP ON LTF BOP 1,058,486

2,795,124

5,638,611

GL CODE OTHER INCOME

3114141118 DISCOUNTS AND REBATES INCOME 474,934

3114141116 GAIN ON SALES OF FIXED ASSETS 29,778

3114141117 GAIN ON INSURANCE CLAIM 108,210

3114141115 INSURANCE COMMISSION INCOME 16,494

TOTAL-MARK-UP

GRAND TOTAL- FINANCIAL EXPENSES

TOTAL-EXPORT FREIGHT CHARGES

TOTAL-EXPORT DEVELOPMENT SURCHARGE

TOTAL-COMMISION ON EXPORT SALES

GRAND TOTAL- SELLING EXPENSES

TOTAL-BANK CHARGES

629,416 TOTAL- OTHER INCOME

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

IDEAL RICE INDUSTRIES (PVT) LTD

GROUPING FOR ACCOUNTS PREPARATION

-

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 17,118,929 25,447,192 -

25,415,403

12,280,253 (31,789) -

32,437

12,280,253 648

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

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 (316,860)

0

22,002

4,149

67,971

0

0

19,224

0

0 7208185

0 7196879

5,311 11306

17,415 11954

2,231

37,965

34

6,644

4,323

41

2,657

328

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 6,848,974

10,296 7,209,457

341,810

3,095,976

3,095,976

3,437,786 7,208,185 (24,189) 24837 648

117,596,983

117,596,983

295,764,257

#REF! #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

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 7286765 465,223

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

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 2

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

- 8,007,303

#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

-

-

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 21781

0

-

0

0

0

0

0

0

-

-

0

0 4,685,135

0

-

- 11,330,835.25

596,359.75

0

0

-

- -

0

0

-

0

0

0

-

0

0

0

-

- 834,063

0

-

-

#REF!

0

0

0

0

0

-

0 55,616

-

-

0

0

0

-

0

0

-

70000 expense ma ziada

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-864633

-

0

0

-

-

0

0

0

0

-

-

-

-

0

-

-

-

0

0

0

0

-

-

0

0

0

0

Reclassification

Advances

NOOR ASIA 3095976

Bilal traders 22002

3117978

Export sale as per ledger 168,368,747

Add

Opening debtors 87,594,052

Closing foreign advances -

Exchange Gain 9,390,367

96,984,419

265,353,166

Less

Closing Debtors 2,165,369

Opening foreign advances -

2,165,369

Export sale realised 263,187,797

260,091,743 3,096,054

260,608,200 2,579,597

25,796

Total

As At


Total

As At

30-06-2014

Accumula-

Ted As At

01-07-2013

For

The

Year

Adjustments

Accumulated

As At

30-06-2014

FREE HOLD

Land 35,549,870 - - 35,549,870 - - - - 35,549,870 -

Building 70,296,752 21,642,202 - 91,938,954 5,878,295 3,311,099 - 9,189,394 82,749,560 5

Plant & machinery 150,882,355 10,095,829 (1,209,015) 159,769,169 17,789,211 6,689,544 (338,793) 24,139,962 135,629,207 5

Generator 4,250,000 6,200,000 - 10,450,000 1,065,688 835,098 - 1,900,786 8,549,214 10




Computers 2,236,295 29,350 (214,286) 2,051,359 1,108,442 339,611 (171,839) 1,276,214 775,145 30


Vehicles 30,083,971 - - 30,083,971 5,019,978 5,012,799 - 10,032,777 20,051,194 20

Total 309,693,907 41,205,053 (1,423,301) 349,475,659 34,879,805 17,628,548 (510,632) 51,997,721 297,477,938

2014

PARTICULARS


As At

30-06-2014R

AT

E %

Total

As At


Total

As At

30-06-2014

Accumulated

As At

01-07-2013

For

The

Year

Adjustments

Accumulated

As At

30-06-2014


Total - 650,000 - 650,000 - 5,417 - 5,417 644,583 -

2014

PARTICULARS


As At

30-06-2014R

AT

E %

TOTAL

AS AT


TOTAL

AS AT

30-06-2013

ACCUMULA-

TED AS AT

01-07-2013

FOR

THE

YEAR

ACCUMULA

TED AS AT

30-06-2013

FREE HOLD

Land 35,549,870 - - 35,549,870 - - - - 35,549,870 -

Building 43,491,345 26,805,407 - 70,296,752 3,781,094 2,097,201 - 5,878,295 64,418,457 5

Plant & machinery 128,302,777 22,579,578 - 150,882,355 11,317,629 6,471,582 - 17,789,211 133,093,144 5

Generator 4,250,000 - - 4,250,000 711,875 353,813 - 1,065,688 3,184,312 10




Computers 1,817,455 418,840 - 2,236,295 752,093 356,349 - 1,108,442 1,127,853 30


Vehicles 11,525,321 18,938,650 (380,000) 30,083,971 2,346,242 2,764,936 (91,200) 5,019,978 25,063,993 20

Total 241,099,953 68,973,954 (380,000) 309,693,907 21,557,761 13,413,244 (91,200) 34,879,805 274,814,102

2013

PARTICULARS


AS AT

30-06-2013R

AT

E %

Client: Ideal Rice Industries Pvt Ltd File no:

Ref.2014

(Rupees)

Opening 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)

Detailed Head: Income Tax Deducted / Deposited Reviewed by:

Account Code:

Particulars

Ref. No.

Accounting Year : Year ended june 30, 2014 Prepared by:

Grouping Head: Current Assets Checked by:

Ideal Rice Industries Prepared by:

TAX YEAR 2014

CALCULATION OF TAXABLE PROFIT 2014

Rupees

Profit before tax (15,304,153)

WPPF @ 5 % -

Profit before taxation, WWF (15,304,153)

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 (15,304,153)

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 - -

-

Less:

Tax depriaciation

Tax loss on disposal

Gratuity paid during the year

Gross Rental Income

-

Tax profit before WWF (15,304,153)

WWF

WWF @ 2%

TAXATION

(15,304,153)

Profit before taxation @ 34% (5,203,412) 1

Revenue 397,882,147

Minimum tax @ 1% 3,978,821 2

Higher of 1 and 2

Tax on net profit A 3,978,821

Final Tax

Tax on trading revenue 273,015

(It is supposed that all Import stock has been sold so Tax is taken as Final)

Tax on Exports @ 1%

B 273,015

Tax Liability (A+B) 4,251,836

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 (3,060,831)

or

Total amount of donation 610,000

Tax credit on donation shall be available on lesser of A and B @ 34% 610,000 207,400

Total Tax credit 207,400

Net tax (refund) / liability 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)

IDEAL RICE INDUSTRIES Accounts

Documents

Transcript of IDEAL RICE INDUSTRIES Accounts