BALANCE SHEET OF MAPLE LEAF

ASSETS 2008
NON -CURRENT ASSETS …………………….RUPEES IN THOU
Property,Plant And Equipment 20,081,448
Intangible Assets 15,082
Investments 0
Loans to employees 6,121
Deposits and prepayments 54,014
20,156,665
CURRENT ASSETS
Stores,Spare and loose tools 3,325,744
Stock in trade 433,952
trade debts 743,366
Fair value derivative financial instruments 365,748
Loans and advances 82,814
Investments 734,859
Deposits and short term prepayments 54,532
Accrued profit 763
Sale tax,customs and excise duty 57,769
Due from gratuity fund trust 9,768
Other receivables 21,780
Taxation - net 44,907
Cash and bank balances 118,894
5,994,896

TOTAL ASSETS 26,151,561

EQUITY AND LIABILTIES

Share Capital and Reserves
Authorized Capital 5,000,000
Issued,subscribed and paid up capital 4,264,108
Reserves 4,644,355
Unappropriated profit (547,574)
Total Equity 8,360,889

LIABILTIES
NON -CURRENT LIABILTIES
Loans from related parties 35,224
Long Term loans and finance 241,539
Redeemable capital 8,000,000
Syndicated term finance 1,000,000
Liabilties against assets subject to finance lease 957,434
Lease finance advances and accured interest thereon 0
Long Term deposits 2,582
Deferred taxation 154,741
Employee' compensated absences 16,688
10,408,208
CURRENT LIABILTIES
Current portion of:
redeemable capital 0
Long Term loans and finances 0
syndicated term finace 1,080,000
Liabilties against assets subject to finance lease 188,011

Short term finance 3,369,738

Trade and other payable 2,495,559
Accured profit and interest / mark-up 194,568
Taxation -net 0
Dividends 54,588
7,382,464

TOTAL EQUITY AND LIABILTIES 26,151,561

APLE LEAF

2007 2006
………………….RUPEES IN THOUSAND………………...
19,330,866 16,088,505
4,578 0
0 368,881
6,373 7,127
43,200 15,923
19,385,017 16,480,436

2,014,580 1,847,926
369,709 200,946
194,587 163,459
242,226 0
85,544 299,257
944,669 0
15,373 7,314
402 559
37,742 34,611
8,539 0
1,198 9,452
14,029 0
123,359 100,938
4,051,957 2,664,462

23,436,974 19,144,898

5,000,000 5,000,000
4,264,108 3,519,581
4,457,328 3,063,529
271,601 972,594
8,993,037 7,555,704

250,000 0
8,576,657 7,868,948
0 0
 0 0
268,040 12,226
679,676 74,146
2,702 2,977
897,183 971,128
13,192 10,250
10,687,450 8,939,675

0 41,650
1,792,519 538,530
0 0
13,858 4,481

797,585 947,160
719,311 752,172
378,675 279,112
0 31,828
54,539 54,586
3,756,487 2,649,519

23,436,974 19,144,898
property plant and equipment
cost
accumulated dep upto last years
accumulated dep for current year

intangible assets
cost
accumlated amortization of last years

for this year

 2,008 2,007
25,497,863 12,568,735
4,857,273 4,429,222
865,546 439,254
(1,902) (11,146)
(4) 863,640 5,720,913 (57) 428,051 4,857,273
19,776,950 7,711,462

23,250 6,769
2,191 0

5,977 8,168 2,191 2,191

15,082 4,578
 PROFIT AND LOSS ACCOUNT

2008 2007
RUPEES IN THOUSAND
Sales 7,815,829 3,711,081
Cost of sales (6,491,999) (3,401,188)
Gross profit 1,323,830 309,893
Administrative expences (121,236) (67,291)
Distribution cost (834,849) (69,021)
Other operating expences (24,838) (18,371)
(980,923) (154,683)
342,907 155,210
Other operating income 105,656 43,224
Operating profit from operation 448,563 198,434
Finance cost (1,812,807) (338,453)

Profit / (Loss) after taxation (1,364,244) (140,019)

Taxation
Current 44,815 (9,477)
Deferred (732,924) (172,589)
(688,109) (182,066)
Profit after taxation (676,135) 42,047
………RUPEES……….
 2006
AND
5,709,792
(3,561,212)
2,148,580
(60,474)
(20,961)
(118,024)
(199,459)
1,949,121
26,671
1,975,792
(340,978)

1,634,814

(28,536)
(547,038)
(575,574)
1,059,240
….
 CASH FLOW STATEMENT

Cash flow from operating activities

Loss for the year: before taxation

Adjstment for non cash charges and other items:

Depreciation
Amortization
Gain on disposal of operating fixed assets-net
Employee compensated absences
Finance cost
Provision for obsolete stores and spares
Profit on bank deposits
Investment income-net
Dividend income

Cash inflow from operating activities before working capital changes

(increase)/decrease in current assets:

Stores,spares and loose tools
Stock in trade
Trade debts
Loan and advances
Deposits and short term prepayments
Sales tax, customs and excise duty
Due from gratuity fund trust
Other receivables
Increase/(decrease) in trade and other payables

Cash in flow from operating activities-before taxation

Tax paid
Compensated absences paid

Net cash inflow from operating activities-after taxation

Cash flow from investing activities

Fixed capital expenditure
Sale proceed from fixed assets
Loan to employees
Investments
Deposits and prepayments
Profit on bank deposits received
Dividend income
Investment income

Net cash out flow from investing activities

Cash flow from financing activities

Proceed from issue of ordinary shares
Share premium on issue of ordinary shares- net
Term finance certificates redeemed
Loan from related party
Long term loan and finances
Redeemable capial
Syndicated term finances-net
Long term deposits from stockists-net
Lease finances - net
Short term finances-net
Finance cost paid
Ordinary dividend paid
Preferance dividend paid

Net cash inflow from financing activities

Net (decrease)/increase in cash and cash equivalent

Cash and cash equivalents-at the beginning of the year

Cash and cash equivalents-at the end of the year

TATEMENT

2,008 2,007
RUPEES IN THOUSAND

(1,364,244) (140,019)

865,546 439,254
5,977 2,191
(725) (5,905)
7,137 6,979
1,812,807 338,453
0 2,273
(5,046) (1,294)
(43,403) 0
(12,021) (6,094)

1,266,028 635,838

(1,311,164) (168,927)
(64,243) (168,763)
(548,779) (31,128)
2,873 213,626
(39,159) (8,059)
(20,027) (3,131)
(1,229) (8,539)
(20,582) 8,254
1,776,248 (32,861)

(226,062) (199,528)

1,039,966 436,310
(75,693) (36,380)
(3,641) (4,037)

960,632 395,893

(1,634,403) (3,690,937)
 2,519 8,458
109 841
173,551 (200,000)
(10,814) (27,277)
4,685 1,451
12,021 6,094
43,403 0

(1,408,929) (3,901,370)

0 744,527
0 184,183
0 (41,650)
(214,776) 250,000
(10,127,637) 1,961,698
8,000,000 0
2,080,000 0
(120) (275)
183,871 870,721
2,572,153 (149,575)
(1,996,914) (238,890)
(14) (128)
(52,731) (52,713)

443,832 3,527,898

(4,465) 22,421

123,359 100,938

118,894 123,359
depreciation charges for the year

cost of goods sold

admin expense
other manufacturing exp
unallocated capital expenditure
trial run operation
total

intangible assets

computer software

23.6 disposal of operating fixed assets

41. administrative expenses

provision for obsolete stores and spares

44. other operating income

income from financial assets

profit on bank deposits
dividends
investment income-net
income from non financial assets
sale of scrap
gain on disposal of operating fixed assets
misc.

37. taxation-net
tax deducted at source and advance tax deposits
opening bal. of advance tax(provision)
add: provision/ (write back) made for
- current year
- prior year-net

loans to employees
house buildind
vechicles
others

less:revocable with in one year grouped under current asset

disposal of operating fixed assets

cost
accum. Dep
book value
sale proceeds
 2,008 2,009
Rupees in thousand

842,121 415,841
11,056 3,182
103 99
14,273
12,266 5,859
865,546 439,254

amortization
Rupees in thousand

39,263 year 39,629

2,191 5,977 8,168

2,191 2,191

ing fixed assets gain

2,008 2,007

725 5,905

2,008 2,007

es and spares 0 2,273

2,008 2,007
Rupees in thousand

5,046 1,294
12,021 6,094
43,403 0

38,850 25,599
ng fixed assets 725 5,905
5,611 4,332
105,656 43,224

2,008 2,007
d advance tax deposits 75,693 36,380
14,029 (31,828)
ck) made for
45,281 20,450
 (466) (29,927)
44,815 (9,477)

44,907 14,029

6,750 6,749
2,576 2,709
401 378
9,727 9,836
year grouped under current asset 3,606 3,463
6,121 6,373

2,008 2,007
3,696
1,902
1,794
2,519 8,458