(COLONY) THAL TEXTILE MILLS LIMITED

BALANCE SHEET
NOTE

2009
Rupees

EQUITY AND LIABILITIES

SHARE CAPITAL AND RESERVES:
Authorized Capital
Issued, subscribed and paid up capital
Reserves
Accumulated losses
SURPLUS ON REVALUATION OF
FIXED ASSETS
NON CURRENT LIABILITIES
Long term loans
Deferred Liabilities
CURRENT LIABILITIES
Short term finances
Trade and other payables
Accrued markup on secured loans
Provision for taxation

3.1
3.2
4

2008

2008

Rupees

90,000,000
90,000,000
90,000,000
55,687,500
55,687,500
55,687,500
17,887,309
17,887,309
17,887,309
-177,012,767
(139,379,483)
(172,900,373)
-103,437,958
(65,804,674)
(99,325,564)

133,512,117

139,593,015

311,522,000

6
7

242,606,225
212,749

245,580,525
546,429

244,720,177

8
9
10
11

78,461,577
61,359,625
31,409,537
8,264,411
179,495,150

73,290,193
65,096,685
4,273,136
9,364,411
152,024,425

51,051,896

26,433,081

57,661,402
44,939,414
4,699,957
158,352,669

(COLONY) THAL TEXTILE MILLS LIMITED

2009
ASSETS
NON CURRENT ASSETS
Property, plant & equipment
Assets held for sale
Long term deposits
CURRENT ASSETS
Stores and spares
Stocks in trade
Trade debtors
Loans and advances
Trade deposits, prepayments
and other receivables
Cash and bank balances

NOTE

Rupees
13
14
15

2008
Rupees

2010
rupees

322,227,851 322,227,851
27,642,664 2,454,443
2,454,443

322,227,851
27,642,664
2,454,443

16
17
18
19

13,461,417
56,873,008
20,384,462
3,396,075

13,755,071
52,575,116
22,566,958
2,942,303

13,461,417

20
21

6,104,474
3,956,283
104,175,719
456,500,677

6,172,949
3,251,652
101,264,049
471,939,720

6,104,474

2009

56,873,008
20,384,462
3,396,075

3,956,283
104,175,719
456,500,677

2,008

2,009

1. current ratio=current assets/current liabilities

2. quick ratio= current assets-inventories/current liabilities

0.580381804
0.18853598

0.66610381 0.5854993
0.229791114 0.14133608

3. inventory turn over ratio=sales/inventories

4. days sales outstanding=recieveables/average sales per day
5. fixed assetsturnover ratio=sales/fixed assets
6. total assets turnover ratio=sales/total assets
7. total debt ratio=total debt/total assets
8. time interest -earned ratio=EBIT/interest charges
9. profit margin on sales=netloss/sales
10.return on total asset=net loss/TOTAL ASSETS
11. basic earning power ratio=EBIT/TOTAL ASSETS
12. return on equity=net loss/equity
13. price/earning ratio=price per share/eps
14.market/book value

1.71494832
90.43307658
0.374331094
0.264227218
0.907007884
2.234498718
-0.287764265
-0.076035151
-0.137627075
0.34945785
-1.605136437
-0.560656268

5.652214474
30.84455282
1.16350105
0.794407479
0.823806413
2.36405625
-0.09183796
-0.07295676
-0.11955796
0.523233274
-1.61812298
-0.84625448

5568750

5568750

5568750

(99,325,564)
(6.23)

(65,804,674)
(6.18)

-103,437,958

10
10
-17.83624045

10
10
-11.8167765

10
10
-18.5747175

-62,826,853

-56,424,148

-62,826,853

important points:
COMMON SHARES
COMMON EQUITY
EPS
PRICE PER SHARE
MARKET VALUE
BOOK VALUE
EBIT

6.33572743
24.4783341
0.91406749
0.69891273
0.66626828
4.57271623
-0.01386383
-0.00968961
-0.09853802
0.05972659
-9.00900901
-0.5383662

-1.11

SALES
INTEREST CHARGES
INVENTORIES
AVERAGE SALES PER DAY
ACCOUNT RECIEVEABLE
CURRENT LIABILITIES
CURRENT ASSETS
TOTAL ASSETS
TOTAL DEBT
NET LOSS
FIXED ASSETS

445,619,746
374,912,443
-23,867,515 -13,739,504
66,330,187 70,334,425
70,334,425

120,619,904

-28,116,755

330465.4904
29,885,011

1027157.378 1220876.02
31,682,210
29,885,011

158,352,669
179,495,150 152,024,425
92,715,370
101,264,049
104,175,719
637,589,969
456,500,677 471,939,720
414,049,713 388,786,968 424,805,970
-34,431,195 -6,177,997
-34,710,098
487,512,956
322,227,851 322,227,851

(COLONY) THAL TEXTILE MILLS LIMITED

(COLONY) THAL TEXTILE MILLS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED JUNE 30, 2009
NOTE

2009

2008
2009
Rupees
374,912,443 120,619,904
22
120,619,904
374,101,001 132,840,354
23
132,840,354
811,442 -12,220,450
-12,220,450
Rupees

Sales - Net
Cost of Sales
Gross (loss) / profit
Operating Expenses:
Administrative
Selling
Operating Loss
Financial Expenses
Loss before taxation
Taxation
Loss after taxation
Basic (Loss) / Earning per share

24
25

8,770,025
44,450
8,814,475
-21,034,925

26 -28,116,755
-34,710,098
28 -34,710,098
29 -6.23

9,472,060
28,500
9,500,560
-8,689,118
-23,867,515
-32,556,633
-1,874,562
-34,431,195
-6.18

8,770,025
44,450
8,814,475
-21,034,925
-28,116,755
-34,710,098
-34,710,098
-6.23

(COLONY) THAL TEXTILE MILLS LIMITED

(COLONY) THAL TEXTILE MILLS LIMITED
CASH FLOW STATEMENT
FOR THE YEAR ENDED JUNE 30, 2009
2009
2008
Rupees
Rupees
CASH FLOWS FROM OPERATING ACTIVITIES
(32,556,633)
(Loss) before taxation
(34,710,098)
Adjustments for:
Depreciation
13,389,477
12,690,948
Profit on sale of fixed assets
(14,441,582)
20,503,197
Financial charges
28,116,755
1,336,041
Operating profit before working capital changes
(8,343,977)
Adjustments for working capital changes:
(Increase) / decrease in current assets
Stores and spares
293,654 (662,137)
32,600,164
Stock in trade
(4,297,892)
Trade debts
2,182,496 (3,693,156)
1,360,846
Loans and advances
(453,772)
5,471,643
Trade deposits, Prepayments and other receivables
68,475
35,077,360
Increase / (Decrease) In Current Liabilities
(2,207,039)
Short term finances
5,171,384 (11,049,299)
(53,201,295)
Trade and other payables
(3,737,060)
1,434,324 (64,250,594)
(27,837,193)
Cash generated from operations
(9,116,692)
(7,059,477)
Financial charges paid
(980,355)
(909,875)
Income tax paid
(1,100,000)
(1,440,694)
Gratuity paid
(333,680)
(37,247,239)
Net Cash inflow from Operating Activities(11,530,727)
CASH FLOWS FROM INVESTING ACTIVITIES
(847,777)
Fixed capital expenditure
(531,812)
Sale proceed of fixed assets
15,741,470 Net Cash (out flow) from investing activities
15,209,658 (847,777)

19

(COLONY) THAL TEXTILE MILLS LIMITED

2009
Rupees
3.0 SHARE CAPITAL
3.1 Authorized Capital
9,000,000 Ordinary shares of Rs. 10/- each
3.2 Issued, subscribed and paid up capital
3,348,750 Ordinary shares of Rs. 10/- each
fully paid in cash
2,220,000 Ordinary shares of Rs. 10/- each
issued as fully paid up bonus shares.

2008
Rupees

90,000,000

90,000,000

33,487,500

33,487,500

22,200,000
22,200,000
55,687,500
55,687,500
There are no changes in the authorized and paid up capital of the company in the current year.
4.0 RESERVES
Capital:
200,000
Pre-incorporation profit
200,000
337,309
Exchange fluctuation reserve
337,309
2,500,000
Gain on redemption of preference share capital
2,500,000
14,850,000
Premium on issue of right shares
14,850,000
17,887,309
17,887,309
There is no movement in these reserves.
5.0 SURPLUS ON REVALUATION OF FIXED ASSETS
152,952,411
Opening Balance
151,094,501
Less:
Transferred to accumulated loss in respect of
incremental depreciation charged on related assets
For Current Year:
(1,248,710)
net of deferred tax
(1,189,208)
(609,200)
related deferred tax liability
(578,740)
(1,857,910)
(1,767,948)
(1,857,910)
(1,767,948)
151,094,501
149,326,553
Less: Related deferred tax liability on revaluation:
12,110,686
Balance as at July 01
11,501,486
Incremental depreciation charged on related
(609,200)
assets for current year
(578,740)
11,501,486
10,922,746
Less: Realization on disposal of assets
(4,891,690)
139,593,015
133,512,117

27

(COLONY) THAL TEXTILE MILLS LIMITED

2009
Rupees
### ADMINISTRATIVE EXPENSES
Salaries, wages and benefits
Traveling and conveyance
Communications
Rent, rates and taxes
Insurance
Repair and maintenance
Auditors remuneration
Legal and Professional charges
Subscription and donations
Security charges
Entertainment
Electricity, Gas and Water charges
Advertisement and publicity
Printing, stationery and general
Depreciation

24.1

2,369,942
410,796
668,676
662,143
5,679
693,258
24.2
200,000
263,903
24.3
48,950
733,708
1,079,880
983,063
32,100
364,108
253,819
8,770,025
24.1Salaries, wages and other benefits includes charges for staff retirement benefits.
24.2Auditors remuneration
175,000
Statutory Audit fee
25,000
Half Yearly Review fee
200,000
24.3None of the directors or their spouse have any interest in donees for donations.
### SELLING EXPENSES
Freight
44,450
44,450
### FINANCIAL EXPENSES
Mark up on:
15,480,520
Long term finances
12,369,625
Short term finances
266,610
Bank charges
28,116,755

36

2008
Rupees
3,102,555
334,845
719,156
674,564
27,760
574,480
200,000
174,964
1,600
805,520
1,076,571
987,684
90,753
375,805
325,803
9,472,060

175,000
25,000
200,000

28,500
28,500

13,780,210
6,722,987
3,364,318
23,867,515