The Karachi Stock Exchange (Guarantee) Limited’s annual report 2011

Karachi, June 13, 2012 (PPI-OT): Balance Sheet as at June 30, 2011

2011

2010

Notes

Rupees

Rupees

Authorized Capital
14,000,000 Ordinary shares o Rs. 10/- each

140,000,000

140,000,000

———–

———–

Issued, subscribed and paid up capital

4

85,504,000

85,504,000

Accumulated loss

(724,522,870)

(660,628,319)

———–

———–

(639,018,870)

(575,124,319)

Surplus on revaluation of fixed assets

5

386,586,701

394,224,636

Non Current Liabilities
Long term financing

6

- from Financial institution – secured

6.1

334,321,354

334,821,354

-from directors-unsecured

6.2

99,352,480

97,303,465

Redeemable capital

7

27,855,299

27,855,299

Deferred liabilities

8

77,715,264

77,715,264

Staff retirement gratuity

9

2,026,174

2,026,174

———–

———–

541,270,571

539,721,550

Current Liabilities
Creditors, accrued and other payables

10

102,776,585

53,805,984

Short term bank borrowings

11

1,499,808

7,077,308

Current portion of long term liabilities

12

2,000,000

2,000,000

———–

———–

106,276,394

62,883,292

Contingencies and Commitments

13

-

-

———–

———–

395,114,796

421,705,165

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

Balance Sheet as at June 30, 2011

2011

2010

Notes

Rupees

Rupees

Non Current Assets
Property plant and equipment

14

329,184,542

338,289,715

Current Assets
Stores and spares

15

1,743,907

1,347,800

Stock in trade

16

10,763,416

24,286,405

Trade debts

17

20,627,128

13,405,303

Advantages, deposits and prepayments

18

32,754,640

43,207,323

Cash and bank balances

19

41,163

1,168,119

———–

———–

65,930,254

83,415,450

———–

———–

395,114,796

421,705,165

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

Chief Executive

Director

Profit and Loss Account for the Year Ended June 30, 2011

2011

2010

Notes

Rupees

Rupees

Sales

20

633,909,615

495,587,221

Cost of sales

21

(659,656,360)

(525,025,980)

———–

———–

Gross profit / (loss)

(25,746,745)

(30,438,759)

Other income

22

242,472

33,698,898

———–

———–

(25,504,273)

3,260,139

Administrative expenses

23

35,667,162

13.395,268

Financial cost

24

850,866

7,284,550

———–

———–

36,518,028

20,679,818

Net profit/ (loss) before taxation

(62,022,301)

(17,419,679)

Provision for taxation

9,510,185

-

———–

———–

Profit/ (loss) after taxation

(71,532,486)

(17,419,679)

Accumulated loss b/f

(660,628,319)

(651,522,718)

———–

———–

Accumulated loss transferred to statement of changes in equity

(732,160,805)

(668,942,397)

———–

———–

Earnings per share

25

(7.25)

(2.04)

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

Chief Executive

Director

Cash Flow Statement for the Year Ended June 30, 2011

Cash flow from operating activities

2011

2010

Notes

Rupees

Rupees

Cash generated from operations

26

780,196

67,175,704

Taxes paid

2,336,547

(1,345,873)

Gratuity paid

-

(138,000)

———–

———–

Net cash used in flow from operating activities

3,136,143

(65,691,831)

———–

———–

Cash Flow for Investing Activities
Fixed capital expenditure

(235,214)

(205,896)

———–

———–

Net cash from investing activities

(235,214)

(205,896)

———–

———–

Cash Flow from Financing Activities
Short term bank borrowings

(6,077,500)

(93,777,587)

Long term loan from directors- unsecured

2,049,015

28,303,465

Long term loan from financial institutions- secured

-

-

———–

———–

Net cash from financing activities

(4,028,485)

(65,474,122)

———–

———–

Net increase/ (decreased) in cash and cash equivalent

(1,126,956)

11,812

Cash and cash equivalent at the beginning of the year

1,168,119

1,156,307

———–

———–

Cash and cash equivalent at the end of the year

41,163

1,168,119

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

Chief Executive

Director

Statement of Comprehensive Income for the Year Ended June 30, 2011

2011

2010

Rupees

Rupees

Loss for the year

(71,532,486)

(17,419,679)

Other Comprehensive Income
Incremental depreciation on Revaluation
of Property, Plant and Equipment

7,637,935

8,314,078

———–

———–

(63,894,551)

(9,105,601)

———–

———–

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

Chief Executive

Director

Statement of Changes in Equity for the Year Ended June 30, 2011

Shares Accumulated Total
Capital Loss
Rupees Rupees
Balance as at July 01, 2009

85,504,000

(651,522,718)

(566,018,718)

Transferred from profit and loss account

-

(17,419,670)

(17,419,679)

Transferred from surplus on revaluation of fixed assets
- Current year

-

8,314,078

8,314,078

———-

———–

———–

Balances as at June 30, 2010

85,504,000

(660,628,319)

(575,124,319)

———-

———–

———–

Balances as at July 01, 2010

85,504,000

(660,628,319)

(575,124,319)

Transferred from profit and loss account

-

(71,532,486)

(71,532,486)

Transferred from surplus on revaluation of fixed assets
- Current year

-

7,637,935

7,637,935

———-

———–

———–

Balances as at June 30, 2010

85,504,000

(724,522,870)

(639,018,870)

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

For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136
Email: info@kse.com.pk
Web: www.kse.com.pk

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