Annual Report 2012 - Lahore Stock Exchange

Financial Notes41.2 Classification adjustmentsIn addition to above it was observed that during the years ended 30 June 2000 to 2008, certain erroneousadjustment were made in MCF and IPF's liabilities and assets, which were corrected as follows:2011 2010(Rupees in thousand)Members’ Contribution FundTax withheld on bank profits, due from government 7,868 7,868Profit receivable on investment in Atlas Asset ManagementFund, previously un-accounted for in MCF's assets 4,385 4,385Payment made to member from MCF's assets 530 530Receivable from members, previously un-accounted for inMCF's assets 35,885 35,885Less:Amount obtained from IPF, returned back (6,000) (6,000)SECP fee on trading not charged to MCF (2,951) (2,951)Excess profit accrual on MCF's investments (193) (193)Investors’ Protection Fund39,524 39,524Amount extended to MCF, obtained back 6,000 6,000Less:Difference in profit accrual (1,303) (1,303)4,697 4,69742 Non adjusting event after balance sheet dateRegistration of the CompanyUnder the requirement of The Stock Exchanges (Corporatization, Demutualization and Integration) Act, 2012, theCompany has been re-registered as public company limited by shares on 27 August 2012 .43 Date of authorization for issuethThese financial statements were authorized for issue on 14 December, 2012 by the Board of Directors of the Exchange.ANNUAL REPORT 2011-12 151