DAWOOD LAWRENCEPUR LIMITED - Lahore Stock Exchange

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Note2010 2009Rupees in 00018. TRADE AND OTHER PAYABLESCreditors 22,400 34,741Accrued expenses 30,410 28,914Gratuity payable to ex staff 6,104 8,307Advance from customers and others 3,770 12,345Unclaimed dividend 21,058 20,698Due to Islamic Development Bank 18.1 25,960 25,960Deposits 18.2 719 740Workers' welfare fund 1,705 -Withholding tax 93 157Others 18.3 8,146 6,468120,365 138,33018.1This represents amount payable against the preference shares issued before the amalgamation in the year 2004 by one ofthe merged entity to Islamic Development Bank with right to redeem. The merged entity had served notice to the Bankfor redemption before the scheme of amalgamation and redemption reserve has been created.18.2All deposits are re-payable on demand and no interest is payable thereon.18.3 These includes amount due to following related parties:2010 2009Rupees in 000Sach International (Private) Limited 275 -Dawood Corporation (Private) Limited 155 155The Dawood Foundation 9 173Central Insurance Company Limited 8 27719. CONTINGENCIES AND COMMITMENTS19.1 ContingenciesThe Taxation Officer while making assessments for the tax years 2003 to 2005, had made additions on account ofallocation of expenses between the normal and presumptive income and disallowance of expenses against the operatingincome of the Company of Rs. 136.10 million, made errors in allowing expenses relating to gratuity, lease rentals,employee perquisites, utilities of Rs. 29.34 million etc. The Company preferred appeals before CIT (Appeals) andIncome Tax Appellate Tribunal. The Company has also applied for the rectification of different mistakes in assessmentorders for the tax years 2004 amounting to Rs 5.53 million, and against calculation of minimum tax and adjustment ofbrought forward losses amounting to Rs 20.92 million and Rs. 20.62 million in which decision of Tribunal is awaited .The tax impact of all the cases amount to Rs. 91.56 million.The Company obtained a bank guarantee in favour of Alternate Energy Development Board (AEDB) on behalf of TenagaGenerasi Limited (the subsidiary Company) for US$ 50,000 (December 31, 2009: US$ 25,000). The guarantee is validupto February 2011.The Company is contingently liable against the guarantees and the counter guarantees amounting to Rs 64.37 million(December 31, 2009: Rs. 64.16 million). These are secured against margins and investment in NIT units.
19.2 CommitmentsThe Company has commitments against letters of credit for purchases amounting to Rs. 42.44 million (December, 2009:Rs. 37.33 million).The Company has commitment to supply to one of its customers fabric amounting to Rs. 16.79 million (December 31 ,2009: Rs. 69.78 million).NoteFor sixmonths endedDecember 31,2010 2009Rupees in 00020. SALES - NETFabric 387,208 208,885Yarn 6,055 7,957Waste 3,805 2,738397,068 219,580Less: brokerage, commission and discount (4,704) (1,827)392,364 217,753Related to discontinued operationsFabric 11,502 24,212Waste - 176(11,502) (24,388)380,862 193,36521. COST OF GOODS SOLDRaw material consumed 21.1 122,362 56,983Salaries, wages and allowances 21.2 96,171 45,738Electricity, gas and water 61,869 24,493Stores and spares consumed 21.3 24,289 15,362Depreciation 4,395 2,298Insurance 1,532 660Repairs and maintenance 305 454Workers' canteen 1,251 591Travelling and conveyance 2,078 869Postage and telephone 339 140Other manufacturing overheads 1,139 428315,730 148,016Work in processOpening balance 100,605 81,864Closing balance (87,127) (100,605)13,478 (18,741)Cost of goods manufactured 329,208 129,275Finished goodsOpening balance 121,057 152,990Closing balance (109,833) (121,057)11,224 31,933Cost of goods sold 340,432 161,208Related to discontinued operations (10,226) (20,767)330,206 140,441
Page 1 and 2: DAWOOD LAWRENCEPUR LIMITEDBALANCE S
Page 3 and 4: DAWOOD LAWRENCEPUR LIMITEDSTATEMENT
Page 5 and 6: For the year ended December 31, 201
Page 7 and 8: DAWOOD LAWRENCEPUR MILLS LIMITEDNOT
Page 9 and 10: 3. SIGNIFICANT ACCOUNTING POLICIEST
Page 11 and 12: 3.4.5 ImpairmentA financial asset i
Page 13 and 14: 3.11.1 CurrentProvision for current
Page 15 and 16: Note2010 2009Rupees in 0005. INTANG
Page 17 and 18: Note2010 2009Rupees in 0009. STOCK
Page 19 and 20: Note2010 2009Rupees in 00013.1 Reco
Page 21: Note2010 2009Rupees in '00017.1 Mov
Page 25 and 26: 23. SELLING EXPENSES NoteFor sixmon
Page 27 and 28: NoteFor sixmonths endedDecember 31,
Page 29 and 30: 32.1.1 Credit risk related to recei
Page 31 and 32: Liabilities as per balance sheet- D
Page 33 and 34: 36. DATE OF AUTHORIZATION FOR ISSUE
Page 35 and 36: For comparative yearAccumulated Dep

DAWOOD LAWRENCEPUR LIMITED - Lahore Stock Exchange

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