KHYBER TEXTILE MILLS LIMITED
QUARTERLY ACCOUNTS (Unaudited)
As on March 31, 2023
Baldher, District Haripur, Khyber Pakhtunkhawa
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COMPANY INFORMATION | ||
CHAIRMAN | Mr. Aurangzeb Khan | |
CHIEF EXECUTIVE | Mr. Adam Jadoon | |
DIRECTORS | ||
Mr. Aurangzeb Khan | ||
Mr. Adam Jadoon | ||
Mr. Hassan Ovais | ||
Mr. Amanullah Khan Jadoon | ||
Mr. Muhammad Bahauddin | ||
Mr. Nusrat Iqbal | ||
Mrs. Aamna Jadoon | ||
AUDIT COMMITTEE | ||
CHAIRMAN | Mr. Nusrat Iqbal | |
MEMBER | Mrs. Aamna Jadoon | |
MEMBER | Mr. Muhammad Bahauddin | |
HR & R COMMITTEE | ||
CHAIRMAN | Mr. Nusrat Iqbal | |
MEMBER | Mr.Muhammad Bahauddin | |
MEMBER | Mr. Adam Jadoon | |
COMPANY SECRETARY | Mr. Sadaqat Khan | |
CHIEF FINANCIAL OFFICER | Mr. Taj Muhammad | |
AUDITORS | M/s Clarkson Hyde Saud Ansari | |
Chartered Accountants | ||
SHARE REGISTRAR | F.D. Registrar Services | |
(SMC-Pvt) Ltd | ||
REGISTERED OFFICE | Khyber Textile Mills Ltd. | |
& HEAD OFFICE | Baldher, District Haripur, | |
Khyber Pakhtunkhawa | ||
MILLS | Baldher, District Haripur, | |
Khyber Pakhunkhawa | ||
Website address:- | www.khybertextile.com | |
Email Address:- | info@khybertextile.com | |
Phone No:- | 0995-655048 |
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Directors Report
On behalf of the Board of Directors (BOD), we are pleased to present the unaudited 3rd Quarter Accounts for the nine-month period ending 31st March 2023. The Board of Directors reviewed the current business activities, the restrictions on access to credit due to the ongoing banking litigation, and the closure of textile production.
As per the decisions made during previous AGMs and the BOD's instruction and approval, Management has repurposed most of its empty land for agricultural activities, including a Company farm for the rearing and sale of livestock. Management has also reduced input costs by growing fodder on the Company's agricultural land for the livestock farm. Furthermore, Management has continued to let some of its empty buildings for warehousing and rental purposes and has used this financial stream to reinvest in the Company's current operations. Through these endeavors, the Company has successfully generated revenue during the period under review, which has been reflected in the Financial Statements annexed herewith.
It was further discussed by the BOD that the main obstacle for the Company in restarting textile production has been the restriction on access to credit facilities required for working capital, this is due to the litigation pending in the High Courts by the banks to recover fabricated liabilities. Additionally, the banks are delaying the finalization of litigation to extend their financial squeeze on the Company. Nevertheless, efforts are being made to defend the Company's interest before the Courts to end this litigation.
Despite all odds, the Management is covering expenses, investing in and generating revenue from its current business activities, operating as an active taxpayer and defending the Company's interests in the High Courts.
For and on behalf of the Board of Directors
Chief Executive | Director |
Adam Jadoon | Muhammad Bahauddin |
Baldher, Haripur Dated: 19th April 2023
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KHYBER TEXTILE MILLS LIMITED
4
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION
AS AT MARCH 31, 2023
UN-AUDITED
Note |
NON CURRENT ASSETS |
31/03/2023 | 30/06/2022 | |
Un-Audited | Audited |
------- Amount in Rupees -------
Property, Plant and Equipment | 4 |
Long Term Deposits | |
CURRENT ASSETS | |
Inventory - Livestock (Biological Assets) | |
Inventory - Animal Feed and Medicines | |
Stores and Spares | 5 |
Advances, Deposits and Other Receivables | |
Cash and Bank Balances | 6 |
SHARE CAPITAL AND RESERVES
Authorized Share Capital (1,500,000) Ordinary Share of 10/- each
Subscribed & paid-up Share Capital
Capital Reserve
Statutory Reserve
Revaluation Surplus on Property, Plant & Equipment
Revenue Reserve
Accumulated Loss
NON CURRENT LIABILITIES
955,233,781
88,983
955,322,764
9,174,885
710,800
-
913,626
1,553,139
12,352,450
967,675,214
15,000,000
12,275,030
12,275,030
257,782
920,495,398
(11,785,633)
921,242,577
962,873,700
88,983
962,962,683
7,890,000
238,440
-
1,247,000
2,006,927
11,382,367
974,345,050
15,000,000
12,275,030
12,275,030
257,782
927,295,959
(16,786,696)
923,042,075
Loan from Director | 7 |
Deferred Taxation | |
CURRENT LIABILITIES | |
Short Term Loan from Directors | 8 |
Trade and Other Payables | 9 |
Provision for Taxation | |
CONTINGENCIES AND COMMITMENTS | 10 |
16,500,757
21,801,804
38,302,561
8,009,718
120,358
-
8,130,076
-
967,675,214
16,500,757
24,175,818
40,676,575
8,959,718
432,558
1,234,124
10,626,400
-
974,345,050
The annexed notes form an integral part of these condensed financial statements.
CHIEF FINANCIAL OFFICER | DIRECTOR | CHIEF EXECUTIVE |
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