www.unicapmodaraba.com
DIRECTOR'S REPORT
Dear Certificate holders,
The Board of Directors of Map Out Management Company (Private) Limited, Managers of UNICAP Modaraba (UCAPM) take pleasure in presenting the Quarterly Financial Statements of the Modaraba for the first quarter ended September 30, 2021.
Operating expenses of the Modaraba have remained within budget.
The Modaraba will continue with its strategy of business growth by booking of productive assets and development of new products and services in future.
The Board thanked the sponsors for continuous corporate guidance and financial support since taking over of the Management of the Modaraba by Map Out Management Company Pvt Limited. The Board also acknowledges the patronage of certificate holders of the Modaraba for their continued trust and support.
The Board also appreciates dedication and hard work of the employees of the Modaraba.
The enclosed financial statements depict that the plans Map Out Management Company (Private) Limited, Managers of UNICAP Modaraba (UCAPM) and efforts put in by the employees to revive the Modaraba and to make it an active business concern are going in the right direction and begin to bear success.
On Behalf of the Board of Directors
Map Out Management Company (Private) Limited
---Sd---
_________________________
Director
7 October 2021
Lahore
BALANCE SHEET
AS AT SEPTEMBER 30, 2021
September 30 | September 30 | |||
2021 | 2020 | |||
Notes | Rupees | Rupees | ||
ASSETS | ||||
Property & Equipment | 103,287 | 143,293 | ||
Cash In Hand | 69,714 | 137,601 | ||
Advance Tax | 88,816 | 87,289 | ||
Investments - Stock In Trade | 56,900,000 | 55,000,000 | ||
57,161,817 | 55,368,183 | |||
LIABILITIES | ||||
Accrued and other liabilities | 1,211,242 | 881,242 | ||
Long term security deposit | - | - | ||
Payable to management company | 425,000 | 23,916,593 | ||
Provision for taxation | 901,489 | 901,489 | ||
2,537,731 | 25,699,324 | |||
54,624,086 | 29,668,859 | |||
REPRESENTED BY: | ||||
CERTIFICATE CAPITAL | ||||
Authorized | ||||
24,000,000 Modaraba Certificates of Rs.10/- each | 240,000,000 | 240,000,000 | ||
Issued, subscribed and paid up certificates | 236,400,000 | 236,400,000 | ||
Discount on Issuance of Shares | (50,000,000) | (50,000,000) | ||
Share Deposit Money | 25,421,593 | - | ||
RESERVES | ||||
Statutory reserve | 8,738,973 | 8,738,973 | ||
Accumulated losses | (165,936,480) | (165,470,114) | ||
CONTINGENCIES | ||||
54,624,086 | 29,668,859 | |||
---Sd--- | ---Sd--- | |||
CHIEF EXECUTIVE | DIRECTOR |
PROFIT AND LOSS ACCOUNT
FOR THE QUARTER ENDED SEPTEMBER 30, 2021
Quarter Ended | ||||
September 30 | September 30 | |||
2021 | 2020 | |||
Notes | - - - - - - - - - - - - - - - Rupees - - - - - - - - - - - - - | |||
Ijarah Rental Income | - | - | ||
Financial Advisory | - | - | ||
Un-realized Gain on Investment | - | - | ||
Gain on Sale of Fixed Assets | - | - | ||
Reversal of Mark-up | - | - | ||
Profit on Bank Account | - | - | ||
- | - | |||
Expense | ||||
Administrative Expenses | 570,004 | 462,331 | ||
Impairment in Value of Investment | ||||
570,004 | 462,331 | |||
Profit (Loss) before Management Fee | (570,004) | (462,331) | ||
Modaraba Company's Management | ||||
Fee | ||||
Profit (Loss) before Taxation | (570004) | (462,331) | ||
Taxation | - | - | ||
Profit (Loss) after Taxation | (570,004) | (462,331) | ||
Earning per Certificate | (0.024) | (0.019) | ||
---Sd--- | ---Sd--- | |||
CHIEF EXECUTIVE | DIRECTOR |
STATEMENT OF COMPREHENSIVE INCOME
FOR THE QUARTER ENDED SEPTEMBER 30, 2021
Quarter Ended | |||||
September 30 | September 30 | ||||
2021 | 2020 | ||||
Notes - - - - - - - - - - - | - - - - Rupees - - - - - - - - - - - - - | ||||
Profit (Loss) after Taxation | (570,004) | (462,331) | |||
Other Comprehensive income /(loss) | |||||
Total Comprehensive (loss) | (570,004) | (462,331) | |||
---Sd--- | ---Sd--- |
CHIEF EXECUTIVE | DIRECTOR |
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