Auditors report to the mem ers ford rhod sidat hyd

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Unformatted text preview: Auditors' Report to the Mem ers Ford Rhod Sidat Hyd r & Co. Chart r d Acountant KARACHI: F bruary 27, 2007 19 A ET Cash and balances with treasury ban s 7 338,222 Balances with other ban s 8 790,709 1,16 , 97 Due rom inancial institutions 9 412,131 Investments 1 493,008 Financings 11 959,133 6,19 Operating ixed asets 12 441,428 231,865 De ered tax asets 13 27,130 Other asets 14 562,913 78,458 4,024,674 1,476,61 LIABILITIE Bils payable 15 23,830 Due to inancial institutions 16 50,000 Deposits and other acounts 17 1,778,008 Sub-ordinated loans- Liabilities against asets subject to inance lease- De ered tax liabilities- Other liabilities 18 169,949 5,12 (2,021,787) (5,12 ) NET A ET 2,002,887 1,471,49 REPRE ENTE BY Share capital 19 2,000,000 595, 25 Reserves- Acumulated los (8,354) 1,991,646 595, 25 Advance against uture isue o share capital 2- 876,465 Surplus on revaluation o asets 21 11,241 2,002,887 1,471,49 CONTINGENCIE AN COMITMENT 22- The anexed notes rom 1 to 45 orm an integral part o these inancial statements. Balance Shet as at Decem er 31 006 Note ecembe 31, 2006 ecembe 31, 2005------- R pes in `000 ------- Dir ctor Chairman Dir ctor Pr id nt / Chi f Ex cutiv 2 Profit and Los Acount for the year ended Decem er 31 006 Pro it / return on inancings, investments and placements earned 24 100,008 - Return on deposits and other dues expensed 25 18,665 - Net spread 81,343 - Provision against non-per orming inancings 11.6 (1,001)- Provision or diminution in the value o investments- - Bad debts writen o directly- - (1,001)- Income a ter provisions 80,342 - OTHER INCOME Fe, comision and bro erage income 3,430 - Dividend Income 13,569 - Income rom dealing in oreign curencies 740 - Gain / (los) on sale o securities 26 24,179 - Unreali ed gain / (los) on revaluation o investments clasi ied as held- or-trading (926)- Other income 27 3,555 - Total other income 44,547 - 124,889 - OTHER EXPEN E Administrative expenses 28 145,526 - Other provisions / write o s- - Other charges 29 13,762 - Total other expenses (159,288)- (34,399)- Extra ordinary / unusual items- - LO BEFORE TAXATION (34,399)- Taxation - Curent (1,021)-- Prior years (266)-- De ered 27,332 - 3 26,045 - LO AFTER TAXATION (8,354)- Ac m lated los b o ght fo wa d- - Ac m lated los ca ied fo wa d (8,354)- Basic ea nings / (los) pe sha e 31 Re. (0.04)- il ted ea nings / (los) pe sha e 32 Re. (0.04)- The anexed notes rom 1 to 45 orm an integral part o these inancial statements. Note Ap il 07, 2006 to ecembe 31, 2006 (Note 2.2) 2005------- R pes in `000 ------- Dir ctor Chairman Dir ctor Pr id nt / Chi f Ex cutiv 21 CASH FLOWS FROM OPERATING ACTIVITIES Los be ore taxation (34,399) Ad: De ered cost incured - net (9,257) (62,473) Ad: Dividend income (13,569) (57,225) Adju tm nt : Depreciation 28,405 3,5 3 Amorti ation 1,627 328 Provision against non-per orming inancings 1,001 Surplus / (de icit) on revaluation o investments (clasi ied as held- or-trading) 926 Los / (gain) on sale o ixed asets 7 De ered cost amorti ed 12,062...
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Auditors Report to the Mem ers Ford Rhod Sidat Hyd r& Co...

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