RIZWAN & COMPANY Prepared Reviewed Schedule

Chartered Accountants By: By:

Haroon Altaf
Client : Ghani Global Glass Limited
Year End : June 30, 2019 Date: Date:
L/S : Non Current Assets

Objective:
To ensure that the Non current assets are not materially misstated and are properly classified in
the financial statements.
Work done:
Opening balances traced from previous audit file
Closing balances agreed with GL

30-Jun-19 30-Jun-18
Code Particulars Ref
Rupees Rupees

Property, plant and equipment 1,531,018,169 1,542,058,189

Intangible assets 19,794,072 19,794,072

Long term deposits 4,884,900 7,797,691

1,555,697,141 1,569,649,952

Conclusion
1. Based on our working, we have concluded that Non current assets are not materially mis-stated, are and
are properly classified.
2. The audit has been completed in accordance with audit program.
3. The working papers demonstrate that the adequate work has been undertaken.
4. The working papers contain sufficient information, detail of sufficient features and notes of unusual matters
to enable us to form an opinion on financial statement.
5. In my opinion above amounts are fairly stated and on a consistent basis with the previous period.
 RIZWAN AND COMPANY Prepared Reviewed Schedule:
Chartered Accountants By: By:

Client : Ghani Global Glass Limited Haroon

Year End : June 30, 2019 Altaf
Sub L/S : Property, plant and equipment

Objective:
To ensure that the Non current assets are not materially misstated and are properly classified in the financial
statements.
Work done:
###Balance agrees with GL

30-Jun-19 30-Jun-18
Code Particulars Ref
Amount Amount

Operating fixed assets 1,499,776,438 1,511,631,118

Capital work in progress - at cost 31,241,731 30,427,071

1,531,018,169 1,542,058,189

CONCLUSION :
1. The audit has been completed in accordance with audit program.
2. The working papers demonstrate that the adequate work has been undertaken.
3. The working papers contain sufficient information, detail of sufficient features and notes of ununusal matters to
enable us to form an opinion on financial statement.
4. In my opinion above amounts are fairly stated and on a consistent basis with the previous Year End.
 RIZWAN AND COMPANY Prepared Reviewed Schedule:
Chartered Accountants By: By:
Client : Ghani Global Glass Limited Haroon Altaf
Year : June 30, 2019
Subject : Operating Fixed Assets
Work Done:
Verified opening balance are as per audited accounts
Ensured that the closing balance are as per GL.
Recalculate the depreciation charge matched with the GL.
Verified the addition made during the year on sample basis using DFK sampling plan.
Obtained board approval for additions in fixed assets.
Owned assets
Plant and Furniture and Office Total
Land - Freehold Building Furnace Computers Vehicles
machinery fixture equipment
---------------------------------------------------------------------------------------------Rupees---------------------------------------------------------------------------------------------
Cost
Balance as at July 01, 2017 37,793,029 132,949,249 984,156,179 339,656,957 6,057,498 1,019,360 1,692,957 20,884,655 1,524,209,884
Additions during the year - - 191,974,373 8,001,732 872,430 980,734 184,203 6,371,775 208,385,247
Disposals during the year - - - - - - - - -
Balance as at June 30, 2018 37,793,029 132,949,249 1,176,130,552 347,658,688.50 6,929,928 2,000,094 1,877,160 27,256,430 1,732,595,131

Balance as at July 01, 2018 37,793,029 132,949,249 1,176,130,552 347,658,689 6,929,928 2,000,094 1,877,160 27,256,430 1,732,595,131
Additions during the period - 701,429 22,067,331 32,509,745 2,194,697 192,700 55,948 190,040 57,911,889
Disposals during the year - - - - - - - (642,735) (642,735)
Adjustments - - (3,404,438) 3,404,438 - - - - -
Balance as at June 30, 2019 37,793,029 133,650,678 1,194,793,445 383,572,871 9,124,625 2,192,794 1,933,108 26,803,735 1,789,864,285

Depreciation

Balance as at July 01, 2017 - 16,252,521 49,651,767 48,239,982 1,295,691 183,705 668,363 6,737,787 123,029,816
Charge for the year - 11,669,672 44,260,005 38,507,090 537,813 103,005 338,988 2,517,624 97,934,197
Depreciation on disposals - - - - - - - - -
Balance as at June 30, 2018 - 27,922,193 93,911,772 86,747,072 1,833,504 286,710 1,007,351 9,255,411 220,964,013

Balance as at July 01, 2018 - 27,922,193 93,911,772 86,747,072 1,833,504 286,710 1,007,351 9,255,411 220,964,013
Charge for the period - 10,537,999 21,246,573 34,063,258 626,137 175,335 271,771 2,695,092 69,616,166
Depreciation on disposals - - - - - - - (526,687) (526,687)
Adjustments - - (92,797) 92,797 - - - - -
Balance as at June 30, 2019 - 38,460,192 115,065,548 120,903,127 2,459,641 462,045 1,279,122 11,423,816 290,053,492

Rate of depreciation 10% Machine Hour 5% & 33.33% 10% 10% 30% 15%

WDV as at June 30, 2018 37,793,029 105,027,056 1,082,218,780 260,911,616 5,096,424 1,713,384 869,810 18,001,019 1,511,631,118
WDV as at June 30, 2019 37,793,029 95,190,486 1,079,727,896 262,669,744 6,664,984 1,730,750 653,986 15,379,919 1,499,810,796

Balance as per Accounts 1,499,776,438

Balance as per Working 1,499,810,796
Rounding off Difference 34,358
Percentage 0.002%
 RIZWAN & COMPANY
Chartered Accountants

Client: Ghani Global Glass Limited

Year End: June 30, 2019
Subject: Fixed Assets-Physical Verification
Objective: To ensure that the fixed assets are properly classified and depreciation is charged as per policy of the company.
Work Done: Perform physical verification test to ensure that Assets physically exist.
Note: P for List to Floor
P' for Floor to List
Head office / MILLS / FACTORY
Sr No. Particulars Status Amount (Rs.) Quantity
Plant and Machinery
1 Ampule machine OCI P 215,046,272 7
2 Chinese ampoule machine P' 41,380,109 5
3 Tubing machine OCI P 856,975,373 2
4 Vial Plant P 43,088,776 4
5 Machines for Ethylene Ripnere P 10,222,778 10
6 KYP Ampule Machine P' 18,465,017 4
7 Ampoule Printing Machine P 805,550 1
8 CP Ampoule Machine P 7,828,560 7
9 Wrapping Machines P' 981,010 1
10 Furnance P 383,572,871 1

Total 1,578,366,316
 RIZWAN AND COMPANY Prepared Reviewed Schedule:
Chartered Accountants By: By:
Client : Ghani Global Glass Limited
Year end : June 30, 2019 Date: Date:
Subject : Non current assets - Additions

Objective: To ensure that suficient and appropiate audit evidences are obtained
Workdone: Ledgers were scanned
All significants transactions were tested.
Remaing transactions were selected on sample basis,using DFK sampling plan.

Covered through Significant Covered through No of

2019
Ref. Particulars other procedures transactions Sampling Plan Transactions

Amount in Rs. Amount in Rs. Amount in Rs. Amount in Rs. In Number

Additions in PPE during the year :

Plant and machinery (3,404,438) - 43,812,523 (47,216,961) (31)

Furnace - - -
Furniture and fixture 2,194,697 - 2,194,697 1
Office equipment 192,700 - 192,700 0
Computers 55,948 - 55,948 -
Vehicles 190,040 - 190,040 0

Civil work - - -

Security deposits - - - -
(771,053) - 43,812,523 (44,583,576) (30)
Substantive Sample Sizes Reference:
Client Name: Ghani Global Glass Limited Prepared By:
Year Ended: 30-Jun-19 Date Prepared:
Reviewed By:
Class of Transaction or Balance: Operating fixed assets Date Reviewed:
Population Size: (44,583,576)
Tolerable Misstatement: 3,720,016
Expected Misstatement: 1,488,006
% of Tolerable Misstatement 0.40

Risk Assessment Summary - Substantive Testing Sample Sizes

Assertion Confidence Inherent Control Other

% Risk Risk Substantive
Tests
Occurrence 90 Medium Low None
Completeness 90 Medium Low None
Accuracy 90 Medium Low None
Cutoff 90 Medium Low None
Classification 90 Medium Low None

Reliability Factor Summary CRF= RDR= SSF=

TRF IR CR IR+CR OST TRF-CRF-OST EM RDR+EM SS SI
Assertion Target Inherent Control Combined Other Residual Expected Substantive Sample Sample
* If a negative substantive Reliability Risk Risk Risk Substantive Detection Risk Misstatement Sample Size Interval
factor and sample size is
acheived, other substantive Factor Factor Factor Factor Tests Factor Factor Factor Factor
Occurrence have already
procedures
reduced audit risk to comply 2.3 0.3 0.7 1.0 0.0 1.3 1.2 2.5 -30 1,486,119
with the required confidence
Completeness 2.3 0.3 0.7 1.0 0.0 1.3 1.2 2.5 -30 1,486,119
level and the requirement to
Accuracy 2.3 0.3 0.7 1.0 0.0 1.3 1.2 2.5 -30 1,486,119
perform
Cutoff the proposed 2.3 0.3 0.7 1.0 0.0 1.3 1.2 2.5 -30 1,486,119
procedures should be
Classification 2.3 0.3 0.7 1.0 0.0 1.3 1.2 2.5 -30 1,486,119
questioned. Alternatively the
evidence provided by the
other substantive tests may
be rated too highly.

Random Sample Generator

For the next 5
Random Random Random Random random
First Value Last Value Number Random Number Number Number Number selections,
highlight E35 to
Number in Series (eg Invoice I35 and press
Number, Dollar Value) - - - - - - - F9
Reference Tables

Confidence Level Reliability Factors

Confidence Reliability
Level % Factor
99 4.6
95 3.0
90 2.3
85 1.9

Risk/Reliability Factors

% Risk Reliability
Factor Factor
High 100 0
Medium 75 0.3
Low 50 0.7

Other Substantive Tests Reliabity Factors (OST)

% Risk Reliability
Factor Factor
Persuasive 20 1.6
Corrorborative 60 0.5
Minimal 85 0.2
None 100 0.0
 RIZWAN AND COMPANY Prepared by: Reviewed by: Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year end : 30-Jun-19 Freehold Land
Subject : Depreciation on Freehold Land

Objective:
To ensure accuracy of depericiation and valuation of asset.

Workdone:
Verified that opening balances are as per audited accounts
Ensured that the closing balances are as per GL.

Opening Closing
Cost Depreciation NBV
Acc.Dep Acc.Dep
Opening balance 37,793,029 - - - 37,793,029
Additions during the year - - - - -
Deletions during the year - - - - -

Total 37,793,029 - - - 37,793,029

Conclusion : Based on procedures performed conclusion obtained is satisfactory
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule :
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Building
Subject : Depreciation on Building

Objective:
To ensure accuracy of depericiation and valuation of asset.

Workdone:
Verified opening balances with previous year audited accounts.
Ensured that the closing balance are as per GL.
Recalculated the depreciation charge and matched with the GL.

Opening Closing Acc.

Cost Depreciation NBV
Acc.Dep Dep

Opening balance 132,949,249 27,922,194 10,502,706 38,424,899 94,524,350

Additions during the year 701,429 - 35,294 35,294 666,135
Deletions during the year - - - -

Total 133,650,678 27,922,194 10,537,999 38,460,193 95,190,485

Additions during the year

Date Cost Rate Months Depreciation

24-Sep-18 304,424 10% 10 25,369
26-Apr-19 397,005 10% 3 9,925
Total 701,429 35,294
Conclusion : Based on procedures performed conclusion obtained is satisfactory
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Plant & Machinery
Subject : Depreciation on Plant & Machinery

Objective:
To ensure accuracy of depericiation and valuation of asset.

Workdone:
Verified opening balance are as per audited accounts
Ensured that the closing balance are as per GL.
Recalculated the depreciation charge as per company policy by applying machine hours.
Machine hours are verified by obtaining written representation of hours from management.

Opening Closing Acc.

Ref Cost Additions Deletions Depreciation NBV
Acc.Dep Dep
Opening balance 1,176,130,552 22,067,331 - 93,911,772 21,246,573 115,158,345 1,060,972,207
Adjustment (Transfer to Furnance) (3,404,438) (92,797) (92,797)

Total 1,172,726,114 22,067,331 93,818,975 21,246,573 115,065,548 1,060,972,207

Total Cost 1,194,793,445

Conclusion : Based on procedures performed conclusion obtained is satisfactory

 RIZWAN AND COMPANY Prepared Reviewed Schedule:
Chartered Accountants By: By:

Client : Ghani Global Glass Limited Haroon Altaf

Year : June 30, 2019
Subject : Depreciation on Plant and Machinery

Objective: To ensure that depreciation is not materially misstated.

Work Done:Previous year balances traced from last year audit file.
Current year balances agreed with GL.

Depreciation
Addition Closing Acc-
Code Particulars Ref Opening cost Total Ref Opening Acc-Dep during the NBV
during the year dep
year

Plant and Machinery

Ampule machine OCI 215,046,272 - 215,046,272 12,242,463 8,846,532 21,088,995 193,957,278

Chinese ampoule machine 38,831,398 2,548,710 41,380,109 492,272 885,299 1,377,572 40,002,537

Tubing machine OCI 855,022,728 1,952,645 856,975,373 80,164,036 9,570,405 89,734,441 767,240,932

Vial Plant 44,379,688 8,931,865 53,311,553 615,387 1,123,972 1,739,358 51,572,195

KYP Ampule Machine 18,465,017 - 18,465,017 424,875 776,651 1,201,525 17,263,492

Ampoule Printing Machine - 805,550 805,550 - 27,113 27,113 778,437

CP Ampoule Machine - 7,828,560 7,828,560 - 10,973 10,973 7,817,587

Wrapping Machines 981,010 - 981,010 756 5,629 6,385 974,625

- -
- -
Transfer to Furnance 3,404,438 92,797 -
- -
Opening Difference b/w Client (120,813) (120,813) 120,813
And DFK

1,176,130,552 22,067,331 1,194,793,445 93,911,772 21,246,573 115,065,548 1,079,727,897

Conclusion:
Based on the procedure performed, conclusion obtained is satisfactory.
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Wrapping Machines
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 981,010 756 5,629 6,385 974,625
Addition - - - - -
Total 981,010 756 5,629 6,385 974,625

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 16 16 18 67 66 67
January February March April May June
Hours per month 68 100 102 60 60 477

### 1 2 3 4 5 6
Accumulated Hours worked during the year 16 32 50 117 183 250
7 8 9 10 11 12
318 418 520 580 640 1,117

Calculation of Depreciation Opening

Scrap Value @ Depreciable No of the
Date Cost Rate/Hour Depreciation
10% Amount months

1-Jul-18 295,000 29,500 265,500 12 1.52 1,693

1-Jul-18 686,010 68,601 617,409 12 3.52 3,936
- - - -
- - - -
- - - -
- - - -
Grand Total 981,010 98,101 882,909 5,629
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Ampoule machine - OCI
Subject : Depreciation on Plant & Machinery

Work Done:
1. Verified opening balances with previous year audited accounts.
2. Obtained approval from Board for additions.
3. Verified the addition made during the year, through supporting documents.
4. Verified that transactions are relevant to the year and approved by relevant authority

Cost Depreciation
Ref Ref Opening Acc- Dep During the NBV
Opening Addition dep year
Ampoule machine - OCI -1 32,187,764 - 3,041,886 1,325,100 27,820,778
Ampoule machine - OCI -2 33,745,075 - 2,819,349 1,394,585 29,531,141
Ampoule machine - OCI -3 37,472,604 - 2,945,815 1,537,275 32,989,514
Ampoule machine - OCI -4 38,053,934 - 1,461,427 1,567,379 35,025,128
Ampoule machine - OCI -5 37,378,912 - 1,247,905 1,545,912 34,585,094
Ampoule machine - OCI -6 35,895,934 - 720,623 1,463,558 33,711,753
Ampoule machine - OCI -7 312,049.00 - 5,457 12,723 293,869
Grand Total 215,046,272 - 12,242,463 8,846,532 193,957,278
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Ampoule machine - OCI - 1
Subject : Depreciation on Plant & Machinery
Cost Opening Acc.Dep Dep Closing Acc. Dep NBV
Opening Balance 32,187,764 3,041,886 1,325,100 4,366,986.07 27,820,778
Addition - - - -
Total 32,187,764 3,041,886 1,325,100 4,366,986 27,820,778

Total Number Of Hours July August September October November December

24*365*20 = 175,200 Hours per month 650 587 603 694 641 711
January February March April May June
Hours per month 705 625 701 716 737 644

1 2 3 4 5 6
Accumulated Hours worked during the year 650 1,237 1,840 2,534 3,175 3,886
7 8 9 10 11 12
4,591 5,216 5,917 6,633 7,370 8,014

Calculation of Depreciation
Scrap Value @ Depreciable
Date Cost No of months Rate/Hour Depreciation
10% Amount

1-Jul-18 32,187,764 3,218,776 28,968,988 12 165.35 1,325,100

- - - -
- - - -
- - - -
- - - -

Grand Total 32,187,764 3,218,776 28,968,988 1,325,100

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Ampoule machine - OCI -2
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 33,745,075 2,819,349 1,394,585 4,213,933.75 29,531,141
Addition - -
Total 33,745,075 2,819,349 1,394,585 4,213,934 29,531,141

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 643 583 632 704 624 710
January February March April May June
Hours per month 741 622 696 717 718 655

### 1 2 3 4 5 6
Accumulated Hours worked during the year 643 1,226 1,858 2,562 3,186 3,896
7 8 9 10 11 12
4,637 5,259 5,955 6,672 7,390 8,045

Opening Depreciation
Scrap Value @ Depreciable
Date Cost No. of months Rate/Hour Depreciation
10% Amount

1-Jul-18 33,745,075 3,374,508 30,370,568 12 173.35 1,394,585

- - - -
- - - -
- - - -

Grand Total 33,745,075 3,374,508 30,370,568 1,394,585

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Ampoule machine - OCI - 3
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 37,472,604 2,945,815 1,537,275 4,483,090 35,935,329
Addition - - - -
Total 37,472,604 2,945,815 1,537,275 4,483,090 35,935,329

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 667 601 589 714 660 687
January February March April May June
Hours per month 670 602 709 712 722 653

### 1 2 3 4 5 6
Accumulated Hours worked during the year 667 1,268 1,857 2,571 3,231 3,918
7 8 9 10 11 12
4,588 5,190 5,899 6,611 7,333 7,986

Calculation of Depreciation
Scrap Value @ Depreciable No. of
Date Cost Rate/Hour Depreciation
10% Amount months

1-Jul-18 37,472,604 3,747,260 33,725,344 12 192.50 1,537,275

- - - -
- - - -

Grand Total 37,472,604 1,537,275

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Ampoule machine - OCI - 4
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 38,053,934 1,461,427 1,567,379 3,028,806 35,025,128
Addition - - - - -
Total 38,053,934 1,461,427 1,567,379 3,028,806 35,025,128

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 644 581 644 653 695 726
January February March April May June
Hours per month 679 620 678 710 735 653

### 1 2 3 4 5 6
Accumulated Hours worked during the year 644 1,225 1,869 2,522 3,217 3,943
7 8 9 10 11 12
4,622 5,242 5,920 6,630 7,365 8,018

Calculation of Depreciation
Scrap Value @ Depreciable
Date Cost No. of months Rate/Hour Depreciation
10% Amount

1-Jul-18 38,053,934 3,805,393 34,248,541 12 195 1,567,378.99

- - - -
- - - -

Grand Total 38,053,934 3,805,393 34,248,541 1,567,379

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Ampoule machine - OCI - 5
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 37,378,912 1,247,905 1,545,912 2,793,818 34,585,094
Addition - - - - -
Total 37,378,912 1,247,905 1,545,912 2,793,818 34,585,094

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 672 589 636 677 670 697
January Febraury March April May June
Hours per month 703 597 717 709 730 654

### 1 2 3 4 5 6
Accumulated Hours worked during the year 672 1,261 1,897 2,574 3,244 3,941
7 8 9 10 11 12
4,644 5,241 5,958 6,667 7,397 8,051

Calculation of Depreciation
Scrap Value @ Depreciable
Date Cost No. of months Rate/Hour Depreciation
10% Amount

1-Jul-18 37,378,912 3,737,891 33,641,021 12 192.01 1,545,912.43

- - - -
- - - -
- - - -
- - - -
- - - -

Grand Total 37,378,912 1,545,912

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Ampoule machine - OCI - 6
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 35,895,934.07 720,623 1,463,558 2,184,181.54 33,711,752.53
Addition
Total 35,895,934 720,623 1,463,558 2,184,182 33,711,753

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 661 561 614 648 693 666
January February March April May June
Hours per month 689 606 697 717 711 674

### 1 2 3 4 5 6
Accumulated Hours worked during the year 661 1,222 1,836 2,484 3,177 3,843
7 8 9 10 11 12
4,532 5,138 5,835 6,552 7,263 7,937
Calculation of Depreciation
Scrap Value @ Depreciable
Date Cost No. of months Rate/Hour Depreciation
10% Amount

1-Jul-18 35,895,934 3,589,593 32,306,341 12 184.40 1,463,558

Grand Total 35,895,934 1,463,558

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Ampoule machine - OCI - 7
Subject : Depreciation on Plant & Machinery
Openign Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 312,049 5,457 12,723 18,180 293,869
Addition - - - - -
Total 312,049 5,457 12,723 18,180 293,869

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 661 561 614 648 693 666
January February March April May June
Hours per month 689 606 697 717 711 674

### 1 2 3 4 5 6
Accumulated Hours worked during the year 661 1,222 1,836 2,484 3,177 3,843
7 8 9 10 11 12
4,532 5,138 5,835 6,552 7,263 7,937
Calculation of Depreciation
Scrap Value @ Depreciable No. of
31-Dec-17 Date Cost Rate/Hour Depreciation
10% Amount months

1-Jul-18 312,049 31,205 280,844 12 1.60 12,723

- - - -
- - - -
- - - -

Grand Total 312,049 12,723

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule :
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Chinese Ampoule Machine
Subject : Depreciation on Plant & Machinery

Work Done:
1. Verified opening balances with previous year audited accounts.
2. Verified the addition made during the year, through supporting documents.
3. Verified that transactions are relevant to the year and approved by relevant authority
4. Obtained approval from Board for additions.

Cost Depreciation
Ref Ref Opening Acc- Dep During the NBV
Opening Addition
dep year

Chinese ampoule machine -1 6,253,586 - 63,019 206,208 5,984,360

Chinese ampoule machine -2 6,253,586 - 157,152 222,752 5,873,683
Chinese ampoule machine -3 6,253,586 - 150,591 171,674 5,931,321
Chinese ampoule machine -4 6,117,492 - 23,864 82,460 6,011,168
Chinese ampoule machine -5 6,117,492 208,408 4,274 - 6,321,626
Chinese ampoule machine -6 7,835,656 1,799,250 93,373 189,914 9,351,619
Chinese ampoule machine -7 - 541,052 - 12,292 528,760

Grand Total 38,831,398 2,548,710 492,272 885,299 40,002,537

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Chinese ampoule machine - 1
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 6,253,586 63,019 206,208 269,226 5,984,360
Addition - - -
Total 6,253,586 63,019 206,208 269,226 5,984,360

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 74 275 640 201 687 704
January February March April May June
Hours per month 716 655 529 484 744 710

### 1 2 3 4 5 6
Accumulated Hours worked during the year 74 349 989 1,190 1,877 2,581
7 8 9 10 11 12
3,297 3,952 4,481 4,965 5,709 6,419

Calculation of Depreciation Opening

Scrap Value @ Depreciable
Date Cost No months Rate/Hour Depreciation
10% Amount

1-Jul-18 5,861,562 586,156 5,275,406 12 30.11 193,281

1-Jul-18 255,930 25,593 230,337 12 1.31 8,439
1-Jul-18 136,094 13,609 122,485 12 0.70 4,488
- - - -
- - - -

Grand Total 6,253,586 206,208

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Chinese ampoule machine - 2
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 6,253,586 157,152 222,752 379,903 5,873,683
Addition - - -
Total 6,253,586 157,152 222,752 379,903 5,873,683

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 472 494 479 704 686 699
January February March April May June
Hours per month 674 565 730 543 368 520

### 1 2 3 4 5 6
Accumulated Hours worked during the year 472 966 1,445 2,149 2,835 3,534
7 8 9 10 11 12
4,208 4,773 5,503 6,046 6,414 6,934

Calculation of Depreciation Opening

Scrap Value @ Depreciable
Date Cost No months Rate/Hour Depreciation
10% Amount

1-Jul-18 5,861,562 586,156 5,275,406 12 30.11 208,788

1-Jul-18 255,930 25,593 230,337 12 1.31 9,116
1-Jul-18 136,094 13,609 122,485 12 0.70 4,848
- - - -
- - - -

Grand Total 6,253,586 222,752

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Chinese ampoule machine - 3
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 6,253,586 150,591 171,674 322,265 5,931,321
Addition - - -
Total 6,253,586 150,591 171,674 322,265 5,931,321

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 552 20 322 249 668 587
January February March April May June
Hours per month 460 660 493 677 336 320

### 1 2 3 4 5 6
Accumulated Hours worked during the year 552 572 894 1,143 1,811 2,398
7 8 9 10 11 12
2,858 3,518 4,011 4,688 5,024 5,344

Calculation of Depreciation Opening

Scrap Value @ Depreciable
Date Cost No months Rate/Hour Depreciation
10% Amount

1-Jul-18 5,861,562 586,156 5,275,406 12 30.11 160,912

1-Jul-18 255,930 25,593 230,337 12 1.31 7,026
1-Jul-18 136,094 13,609 122,485 12 0.70 3,736
- - - -
- - - -

Grand Total 6,253,586 171,674

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Chinese ampoule machine - 4
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 6,117,492 23,864 82,460 106,324 6,011,168
Addition - - -
Total 6,117,492 23,864 82,460 106,324 6,011,168

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 115 263 - 276 13 98
January February March April May June
Hours per month 288 47 419 235 440 430

### 1 2 3 4 5 6
Accumulated Hours worked during the year 115 378 378 654 667 765
7 8 9 10 11 12
1,053 1,100 1,519 1,754 2,194 2,624

Calculation of Depreciation Opening

Scrap Value @ Depreciable
Date Cost No months Rate/Hour Depreciation
10% Amount

1-Jul-18 5,861,562 586,156 5,275,406 12 30.11 79,011

1-Jul-18 255,930 25,593 230,337 12 1.31 3,450

- - - -
- - - -

Grand Total 6,117,492 82,460

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Chinese ampoule machine - 5
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 6,117,492 4,274 - 4,274 6,113,218
Addition 208,408 - - - 208,408
Total 6,325,900 4,274 - 4,274 6,321,626

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month
January February March April May June
Hours per month

### 1 2 3 4 5 6
Accumulated Hours worked during the year - - - - - -
7 8 9 10 11 12
- - - - - -

Calculation of Depreciation Opening

Scrap Value @ Depreciable
Date Cost No months Rate/Hour Depreciation
10% Amount
1-Jul-18 6,117,492 611,749 5,505,743 12 31.43 -

Calculation of Depreciation Additions during the year

Scrap Value @ Depreciable
Date Cost No months Rate/Hour Depreciation
10% Amount
5-Mar-19 208,408 20,841 187,567
- - - -
- - - -

Grand Total 208,408 -

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Chinese ampoule machine - 6
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 7,835,656 93,373 171,641 265,014 7,570,641
Addition 1,799,250 - 18,273 18,273 1,780,977
Total 9,634,906 93,373 189,914 283,287 9,351,619

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 1,213 1,052 1,441 1,430 2,054 2,088
January February March April May June
Hours per month 2,138 1,927 2,171 1,939 1,888 1,980

### 1 2 3 4 5 6
Accumulated Hours worked during the year 1,213 2,265 3,706 5,136 7,190 9,278
7 8 9 10 11 12
11,416 13,343 15,514 17,453 19,341 21,321
Calculation of Depreciation Opening
Scrap Value @ Depreciable
Date Cost No months Rate/Hour Depreciation
10% Amount
1-Jul-18 7,835,656 783,566 7,052,090 12 40.25 171,641

Calculation of Depreciation During the Year

Scrap Value @ Depreciable
Date Cost No months Rate/Hour Depreciation
10% Amount
18-Jun-19 85,500 8,550 76,950 1 0.43921 174
30-Jun-19 712,500 71,250 641,250 1 3.66 1,449
8-Nov-18 1,001,250 100,125 901,125 8 5.14 16,649
- - -

Grand Total 1,799,250 18,273

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Chinese ampoule machine 7
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance - - - -
Addition 541,052 - 12,292 12,292 528,760
Total 541,052 - 12,292 12,292 528,760

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 1,024 514 801 953 1,354 1,286
January February March April May June
Hours per month 1,134 1,225 1,223 1,220 704 840

### 1 2 3 4 5 6
Accumulated Hours worked during the year 1,024 1,538 2,339 3,292 4,646 5,932
7 8 9 10 11 12
7,066 8,291 9,514 10,734 11,438 12,278
Calculation of Depreciation Opening
Scrap Value @ Depreciable
Date Cost No months Rate/Hour Depreciation
10% Amount
- - - -

Calculation of Depreciation Additions During the Year

Scrap Value @ Depreciable
Date Cost No months Rate/Hour Depreciation
10% Amount

19-Jul-18 255,251 25,525 229,726 12 1.31122 8,050

31-Jan-19 142,901 14,290 128,611 6 0.73 2,329
12-Feb-19 142,901 14,290 128,611 5 0.73 1,913
- - -

Grand Total 541,052 12,292

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule :
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Tubing Machine
Subject : Depreciation on Plant & Machinery

Work Done:
1. Verified opening balances with previous year audited accounts.
2. Verified the addition made during the year, through supporting documents.
3. Verified that transactions are relevant to the year and approved by relevant authority
4. Obtained approval from Board for additions.

Cost Depreciation
Ref Ref Opening Acc- Dep During the NBV
Opening Addition
dep year

Tubing machine OCI 854,992,728 1,952,645 80,161,545 9,567,954 767,215,874

UPS 30,000 - 2,491 2,451 25,058

Grand Total 855,022,728 1,952,645 80,164,036 9,570,405 767,240,932

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Tubing machine OCI
Subject : Depreciation on Plant & Machinery

Work Done:
1. Verified opening balances with previous year audited accounts.
2. Verified the addition made during the year, through supporting documents.
3. Verified that transactions are relevant to the year and approved by relevant authority
4. Obtained approval from Board for additions.

Cost Acc.Dep Residual value Depreciable amount Rate/Hour Dep NBV

Opening balance 854,992,728 80,161,545 85,499,273 769,493,455 4,392.09 9,552,787 765,278,396

Additions during the year 1,952,645 - - - 15,167 1,937,478

Total 856,945,373 80,161,545 85,499,273 769,493,455 9,567,954 767,215,874

Total Number Of Hours ###

` July August September October November December
24*365*20 = 175,200 Hours per month

January February March April May June

Hours per month 713 742 720

1 2 3 4 5 6
- - - - - -

Accumulated Hours worked durng the year 7 8 9 10 11 12

- - - 713 1,455 2,175

Calculation of Depreciation
Scrap Value @ No. of
Date Cost Depreciable Amount Rate/Hour Depreciation
10% months
7-Aug-18 137,133 13,713 123,420 11 0.70 1,532
31-May-19 1,815,512 181,551 1,633,961 2 9.33 13,635

Grand Total 1,952,645 195,264 1,757,381 15,167

 Scrap Value @ No. of
Date Cost Depreciable Amount Rate/Hour Depreciation
10% months
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf
Client : Ghani Global Glass Limited
Year : June 30, 2019 UPS-Tubing
Subject : Depreciation on Plant & Machinery

Opening Closing Acc.

Cost Dep NBV
Acc.Dep Dep
Opening Balance 30,000 2,491 2,451 4,942 25,058
Addition - - -
Total 30,000 2,491 2,451 4,942 25,058

Calculation of Depreciation Opening

Scrap Value @ Depreciable No. of
Date Cost Rate Depreciation
10% Amount months
1-Jul-18 30,000 3,000 24,509 12 10% 2,451
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Vial plant
Subject : Depreciation on Plant & Machinery

Work Done:
1. Verified opening balances with previous year audited accounts.
2. Verified the addition made during the year, through supporting documents.
3. Verified that transactions are relevant to the year and approved by relevant authority
4. Obtained approval from Board for additions.

Cost Depreciation
Ref Ref Opening Acc- Dep during the NBV
Opening Addition dep year

Vial plant - 1 16,599,174 - 512,265 476,658 15,610,251

Vial Plant - 2 &3 24,706,902 - 103,122 349,027 24,254,753
Vial plant - 4 - 1,782,700 - - 1,782,700
Machines for Ethylene Ripnere 3,073,612 7,149,165 - 298,286 9,924,491

Grand Total 44,379,688 8,931,865 615,387 1,123,972 51,572,195

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf
Client : Ghani Global Glass Limited
Year : June 30, 2019 Vial plant - 1
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 16,599,174 512,265 476,658 988,923 15,610,251
Addition - - - - -
Total 16,599,174 512,265 476,658 988,923 15,610,251
Total Number Of Hours July August September October November December
24*365*20 = 175,200 Hours per month 124 193 523 568 383 458
January February March April May June
Hours per month 519 428 462 605 744 583
1 2 3 4 5 6
Accumulated Hours worked during the year 124 317 840 1,408 1,791 2,249
7 8 9 10 11 12
2,768 3,196 3,658 4,263 5,007 5,590
Calculation of Depreciation Opening
Scrap Value @ Depreciable No. of
Date Cost Rate Depreciation
10% Amount months
1-Jul-18 16,599,174 1,659,917 14,939,256 12 85.27 476,658

Calculation of Depreciation Additions During the Year

Scrap Value @ Depreciable No. of
Date Cost Rate Depreciation
10% Amount months

Grand Total - -
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Vial plant - 2 & 3
Subject : Depreciation on Plant & Machinery

Opening Closing Acc.

Cost Dep NBV
Acc.Dep Dep
Opening Balance 24,706,902 103,122 349,027 452,149 24,254,753
Addition
Total 24,706,902 103,122 349,027 452,149 24,254,753

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 401 113 330 234 349 -
January February March April May June
Hours per month 353 317 104 87 287 175

### 1 2 3 4 5 6
Accumulated Hours worked during the year 401 514 844 1,078 1,427 1,427
7 8 9 10 11 12
1,780 2,097 2,201 2,288 2,575 2,750

Calculation of Depreciation Opening

Scrap Value @ Depreciable No. of
Date Cost Rate/Hour Depreciation
10% Amount months

1-Jul-18 12,353,451 1,235,345 11,118,106 12 63.46 174,514

1-Jul-18 12,353,451 1,235,345 11,118,106 12 63.46 174,514
Grand Total 24,706,902 349,027
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Vial plant - 4
Subject : Depreciation on Plant & Machinery

Opening Closing Acc.

Cost Dep NBV
Acc.Dep Dep
Opening Balance - -
Addition 1,782,700 - - - 1,782,700
Total 1,782,700 - - - 1,782,700

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month - - - - - -
January February March April May June
Hours per month - - - - - -

### 1 2 3 4 5 6
Accumulated Hours worked during the year - - - - - -
7 8 9 10 11 12
- - - - - -

Calculation of Depreciation Addition During the Year

Scrap Value @ Depreciable No. of
Date Cost Rate/Hour Depreciation
10% Amount months

1-Apr-19 1,782,700 178,270 1,604,430 - 9.16 -

Grand Total 1,782,700 -

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 MACHINES FOR ETHYLENE RIPNERE
Subject : Depreciation on Plant & Machinery

Opening Closing Acc.

Cost Dep NBV
Acc.Dep Dep
Opening Balance 3,073,612 138,313 138,313 2,935,300
Addition 7,149,165 - 159,974 159,974 6,989,191
Total 10,222,778 - 298,286 298,286 9,924,491

Calculation of Depreciation Opening

Scrap Value @ Depreciable No. of

Date Cost Rate Depreciation
10% Amount months
1-Jul-18 3,073,612 307,361 2,766,251 12 5% 138,313

Calculation of Depreciation Additions During the Year

Scrap Value @ Depreciable No. of

Date Cost Rate Depreciation
10% Amount months
27-Mar-19 150,000 15,000 135,000 4 5% 2,250
30-Mar-19 4,670,022 467,002 4,203,020 4 5% 70,050
30-Mar-19 453,891 45,389 408,502 4 5% 6,808
31-Jul-18 936,280 93,628 842,652 12 5% 42,133
31-Aug-18 938,972 93,897 845,075 11 5% 38,733

Grand Total 7,149,165 159,974

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 KYP AMPOULE MACHINE
Subject : Depreciation on Plant & Machinery

Work Done:
1. Verified opening balances with previous year audited accounts.
2. Verified the addition made during the year, through supporting documents.
3. Verified that transactions are relevant to the year and approved by relevant authority
4. Obtained approval from Board for additions.

Cost Depreciation
Ref Ref Opening Acc- Dep during the NBV
Opening Addition Dep year

KYP Ampoule machine - 1 4,554,637 - 155,246 191,915 4,207,477

KYP Ampoule machine - 2 4,554,637 - 155,246 191,915 4,207,477
KYP Ampoule machine - 3 4,677,872 - 57,817 195,293 4,424,762
KYP Ampoule machine - 4 4,677,872 - 56,567 197,528 4,423,777

Grand Total 18,465,017 - 424,875 776,651 17,263,492

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 KYP Ampoule machine - 1
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 4,554,637 155,246 191,915 347,160 4,207,477
Addition - - - - -
Total 4,554,637 155,246 191,915 347,160 4,207,477

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 1,278 1,125 1,382 1,425 1,379 1,358
January February March April May June
Hours per month 1,414 1,277 1,465 1,440 1,488 1,374

### 1 2 3 4 5 6
Accumulated Hours worked during the year 1,278 2,403 3,785 5,210 6,589 7,947
7 8 9 10 11 12
9,361 10,638 12,103 13,543 15,031 8,203

Calculation of Depreciation Opening

Scrap Value @ Depreciable No of the
Date Cost Rate/Hour Depreciation
10% Amount months

1-Jul-18 4,554,637 455,464 4,099,173 12 23.40 191,915

- - - -
- - - -
- - - -
- - - -
Grand Total 4,554,637 455,464 4,099,173 191,915
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 KYP Ampoule machine - 2
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 4,554,637 155,246 191,915 347,160 4,207,477
Addition - - - - -
Total 4,554,637 155,246 191,915 347,160 4,207,477

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 1,278 1,125 1,382 1,425 1,379 1,358
January February March April May June
Hours per month 1,414 1,277 1,465 1,440 1,488 1,374

### 1 2 3 4 5 6
Accumulated Hours worked during the year 1,278 2,403 3,785 5,210 6,589 7,947
7 8 9 10 11 12
9,361 10,638 12,103 13,543 15,031 8,203

Calculation of Depreciation Opening

Scrap Value @ Depreciable No of the
Date Cost Rate/Hour Depreciation
10% Amount months

1-Jul-18 4,554,637 455,464 4,099,173 12 23.40 191,915

- - - -
- - - -
- - - -
- - - -
Grand Total 4,554,637 455,464 4,099,173 191,915
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 KYP Ampoule machine - 3
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 4,677,872 57,817 195,293 253,110 4,424,762
Addition - - - - -
Total 4,677,872 57,817 195,293 253,110 4,424,762

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 669 557 651 712 689 666
January February March April May June
Hours per month 714 660 721 720 744 624

### 1 2 3 4 5 6
Accumulated Hours worked during the year 669 1,226 1,877 2,589 3,278 3,944
7 8 9 10 11 12
4,658 5,318 6,039 6,759 7,503 8,127

Calculation of Depreciation Opening

Scrap Value @ Depreciable No. of
Date Cost Rate/Hour Depreciation
10% Amount months

1-Jul-18 4,677,872 467,787 4,210,085 12 24.03 195,293

- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
Grand Total 4,677,872 467,787 4,210,085 195,293
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 KYP Ampoule machine - 4
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance 4,677,872 56,567 197,528 254,095 4,423,777
Addition - - -
Total 4,677,872 56,567 197,528 254,095 4,423,777

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 660 558 645 712 689 655
January February March April May June
Hours per month 714 706 721 720 744 696

### 1 2 3 4 5 6
Accumulated Hours worked during the year 660 1,218 1,863 2,575 3,264 3,919
7 8 9 10 11 12
4,633 5,339 6,060 6,780 7,524 8,220

Calculation of Depreciation Opening

Scrap Value Depreciable No. of
Date Cost Rate/Hour Depreciation
@ 10% Amount months

1-Jul-18 4,677,872 467,787 4,210,085 12 24.03 197,528

- - - -
- - - -
- - - -
- - - -
- - - -
Grand Total 4,677,872 467,787 4,210,085 197,528
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 CP Ampoule machine
Subject : Depreciation on Plant & Machinery

Work Done:
1. Verified opening balances with previous year audited accounts.
2. Obtained approval from Board for additions.
3. Verified the addition made during the year, through supporting documents.
4. Verified that transactions are relevant to the year and approved by relevant authority

Cost Depreciation
Ref Ref Opening Acc- Dep During the NBV
Opening Addition dep year
Ampoule machine - OCI -1 - 1,118,366 - 7,744 1,110,621
Ampoule machine - OCI -2 - 1,118,366 - 3,229 1,115,137
Ampoule machine - OCI -3 to 7 - 5,591,829 - - 5,591,829

Grand Total - 7,828,560 - 10,973 7,817,587

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 CP Ampoule machine - 1
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance - - - -
Addition 1,118,366 7,744 7,744.30 1,110,621
Total 1,118,366 - 7,744 7,744 1,110,621

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month
January February March April May June
Hours per month 481 560 307

### 1 2 3 4 5 6
Accumulated Hours worked during the year - - - - - -
7 8 9 10 11 12
- - - 481 1,041 1,348

Calculation of Depreciation Addition During the Year

Scrap Value @ Depreciable
Date Cost No. of months Rate/Hour Depreciation
10% Amount

25-Apr-19 1,118,366 111,837 1,006,529 3 5.75 7,744

- - - -

Grand Total 1,118,366 111,837 1,006,529 7,744

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 CP Ampoule machine - 2
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance - - - -
Addition 1,118,366 3,229 3,228.71 1,115,137
Total 1,118,366 - 3,229 3,229 1,115,137

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month
January February March April May June
Hours per month 19 543

### 1 2 3 4 5 6
Accumulated Hours worked during the year - - - - - -
7 8 9 10 11 12
- - - - 19 562

Calculation of Depreciation Addition During the Year

Scrap Value @ Depreciable

Date Cost No. of months Rate/Hour Depreciation
10% Amount

25-Apr-19 1,118,366 111,837 1,006,529 3 5.75 3,229

- - - -

Grand Total 1,118,366 111,837 1,006,529 3,229

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 CP Ampoule machine - M3 to M7
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance - - - -
Addition 5,591,829 - - 5,591,829
Total 5,591,829 - - - 5,591,829

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month
January February March April May June
Hours per month

### 1 2 3 4 5 6
Accumulated Hours worked during the year - - - - - -
7 8 9 10 11 12
- - - - - -

Calculation of Depreciation Addition During the Year

Scrap Value @ Depreciable
Date Cost No. of months Rate/Hour Depreciation
10% Amount

25-Apr-19 1,118,366 111,837 1,006,529 3 5.75

25-Apr-19 1,118,366 111,837 1,006,529 3 5.75 -
25-Apr-19 1,118,366 111,837 1,006,529 3 5.75
25-Apr-19 1,118,366 111,837 1,006,529 3 5.75
25-Apr-19 1,118,366 111,837 1,006,529 3 5.75 -

Grand Total 5,591,829 559,183 5,032,646 -

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 AMPOULE PRINTING MACHINE
Subject : Depreciation on Plant & Machinery
Opening Closing Acc.
Cost Dep NBV
Acc.Dep Dep
Opening Balance - - - -
Addition 805,550 27,113 27,112.83 778,437
Total 805,550 - 27,113 27,113 778,437

Total Number Of Hours ### July August September October November December
24*365*20 = 175,200 Hours per month 744 720 744
January February March April May June
Hours per month 744 672 744 720 744 720

### 1 2 3 4 5 6
Accumulated Hours worked during the year - - - 744 1,464 2,208
7 8 9 10 11 12
2,952 3,624 4,368 5,088 5,832 6,552

Calculation of Depreciation Addition During the Year

Scrap Value @ Depreciable
Date Cost No. of months Rate/Hour Depreciation
10% Amount

30-Oct-18 805,550 80,555 724,995 9 4.14 27,113

- - - -

Grand Total 805,550 80,555 724,995 27,113

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule :
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Furnance
Subject : Depreciation on Furnance

Work Done:
1. Verified opening balances with previous year audited accounts.
2. Verified the addition made during the year, through supporting documents.
3. Verified that transactions are relevant to the year and approved by relevant authority
4. Obtained approval from Board for additions.

Ref Cost Acc.Dep Additions Deletions Ref Depreciation NBV

Opening Balance 347,658,689 86,747,072 32,509,745 - 34,063,258 259,358,103
Adjustment Transfer From Plant & Machinery 3,404,438 92,797 3,311,641

Total 351,063,127 86,839,869 32,509,745 - 34,063,258 262,669,744

Accumulated Depreciation 120,903,127

Total Cost 383,572,871
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Furnance
Subject : Depreciation on Furnance

Work Done:
1. Verified opening balances with previous year audited accounts.
2. Obtained approval from Board for additions.
3. Verified the addition made during the year, through supporting documents.
4. Verified that transactions are relevant to the year and approved by relevant authority

Cost Depreciation
Ref Ref Opening Acc- Dep During the NBV
Opening Addition dep year
Furnance 90,000,000 28,181,354 61,492,500 22,296,101 34,392,753
Plant & Machine Furnance 261,063,127 4,328,390 25,347,369 11,767,157 228,276,991

Grand Total 351,063,127 32,509,745 86,839,869 34,063,258 262,669,744

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule :
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Furnance
Subject : Depreciation on Furnance

Cost Opening Acc.Dep Residual Value Depreciable amount Rate% Depreciation Closing Acc. Dep NBV
Opening Balance

Furnance - Plant 90,000,000 61,492,500 9,000,000 81,000,000 33% 19,507,500 81,000,000 9,000,000

90,000,000 61,492,500 9,000,000 81,000,000 19,507,500 81,000,000 9,000,000

Additions/ Transfer :

Furnance - Plant 28,181,354 - 2,818,135 33,463,219 33% 2,788,601 2,788,601 25,392,753

Total 118,181,354 61,492,500 11,818,135 114,463,219 22,296,101 83,788,601 34,392,753

Calculation of Depreciation
Date Cost Residual Value Depreciable Amount No. of months Rate/Hour Depreciation

30-Apr-19 28,181,354 2,818,135 25,363,219 3 33% 2,113,601

30-Apr-19 9,000,000 900,000 8,100,000 3 33% 675,000
Grand Total 37,181,354 3,718,135 33,463,219 2,788,601
Date Cost Residual Value Depreciable Amount No. of months Rate/Hour Depreciation
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 PLANT & MACHINE FURNANCE
Subject : PLANT & MACHINE FURNANCE

Objective:
To ensure accuracy of depericiation and valuation of asset.

Workdone:
1. Verified opening balances with previous year audited accounts.
2. Verified the addition made during the year, through supporting documents.
3. Verified that transactions are relevant to the year and approved by relevant authority
4. Recalculated the depreciation charge and matched with the GL.

Closing Acc.
Cost Opening Acc.Dep Depreciation NBV
Dep

Opening Balance 261,063,127 25,347,369 11,747,841 37,095,210 223,967,917

Additions during the year 4,328,390 - 19,316 19,316 4,309,074
Deletions during the year - - - - -

Total 265,391,517 25,347,369 11,767,157 37,114,526 228,276,991

Opening Balance

Depreciable
Date Cost Scrap Value @ 10% Rate Months Depreciation
Amount
1-Jul-18 261,063,127 26,106,313 234,956,814 5% 12 11,747,841

Additions during the year

Depreciable
Date Cost Scrap Value @ 10% Rate Months Depreciation
Amount
30-Apr-19 411,270 41,127 370,143 5% 3 4,627
19-Jun-19 14,833 1,483 13,350 5% 1 56
30-Jun-19 3,902,287 390,229 3,512,058 5% 1 14,634
4,328,390 3,895,551 19,316
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants HA
Client : Ghani Global Glass Limited
Year : 30-Jun-19 Furniture & Fittings
Subject : Depreciation on Furniture and fittings

Objective:
To ensure accuracy of depericiation and valuation of asset.

Workdone:
1. Verified opening balances with previous year audited accounts.
2. Verified the addition made during the year, through supporting documents.
3. Verified that transactions are relevant to the year and approved by relevant authority
4. Recalculated the depreciation charge and matched with the GL.

Opening Closing Acc.

Cost Depreciation NBV
Acc.Dep Dep

Opening Balance 6,929,928 1,833,504 509,642 2,343,146 4,586,782

Additions during the year 2,194,697 - 116,495 116,495 2,078,202

Total 9,124,625 1,833,504 626,137 2,459,641 6,664,984

Additions during the year

Date Cost Rate Months Depreciation

9-Jul-18 13,750 10% 12 1,360
9-Jul-18 12,750 10% 12 1,261
9-Jul-18 13,500 10% 12 1,335
12-Jul-18 3,250 10% 12 319
31-Jul-18 32,980 10% 12 3,298
11-Aug-18 3,250 10% 11 292
27-Aug-18 11,400 10% 11 1,045
19-Sep-18 7,886 10% 10 657
19-Sep-18 6,313 10% 10 526
28-Sep-18 2,300 10% 10 192
21-Oct-18 2,300 10% 9 173
29-Oct-18 6,313 10% 9 473
19-Nov-18 60,000 10% 8 4,000
19-Nov-18 38,000 10% 8 2,533
30-Nov-18 80,000 10% 7 4,711
5-Dec-18 1,434,180 10% 7 82,465
26-Dec-18 63,800 10% 7 3,722
9-Jan-19 3,550 10% 6 170
31-Jan-19 11,800 10% 6 590
26-Feb-19 5,600 10% 5 233
2-Mar-19 3,000 10% 4 100
26-Mar-19 72,000 10% 4 2,400
27-Mar-19 4,600 10% 4 153
26-Apr-19 21,500 10% 3 538
28-Apr-19 13,365 10% 3 334
30-Jun-19 267,310 10% 1 3,615.58

2,194,697 116,495
Conclusion : Based on procedures performed conclusion obtained is satisfactory
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Office Equipment
Subject : Depreciation on Office equipments

Objective:
To ensure accuracy of depericiation and valuation of asset.

Workdone:
1. Verified opening balances with previous year audited accounts.
2. Verified the addition made during the year, through supporting documents.
3. Verified that transactions are relevant to the year and approved by relevant authority
4. Recalculated the depreciation charge and matched with the GL.

Opening Closing Acc.

Cost Depreciation NBV
Acc.Dep Dep

Opening Balance 2,000,094 286,710 171,338 458,048 1,542,046

Additions during the year 192,700 - 3,994 3,994 188,706

Total 2,192,794 286,710 175,335 462,043 1,730,751

Additions during the year

Date Cost Rate Months Depreciation NBV

29-Dec-18 3,500 10% 7 204 3,296

5-Mar-19 81,200 10% 4 2,707 78,493
30-Apr-19 11,000 10% 3 275 10,725
29-Jun-19 97,000 10% 1 808 96,192

192,700 3,994 188,706

 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Computer
Subject : Depreciation on Computar

Objective:
To ensure accuracy of depericiation and valuation of asset.

Workdone:
1. Verified opening balances with previous year audited accounts.
2. Verified the addition made during the year, through supporting documents.
3. Verified that transactions are relevant to the year and approved by relevant authority
4. Recalculated the depreciation charge and matched with the GL.

Opening Closing Acc.

Cost Depreciation NBV
Acc.Dep Dep

Opening Balance 1,877,160 1,007,351 260,943 1,268,294 608,866

Additions during the year 55,948 - 10,828 10,828 45,119
Deletions during the year - - - - -

Total 1,933,108 1,007,351 271,771 1,279,122 653,986

Additions during the year

Date Cost Rate Months Depreciation

31-Jul-18 12,022 30% 12 3,607
11-Oct-18 15,276 30% 9 3,437
17-Jan-19 8,300 30% 6 1,245
17-Jan-19 13,500 30% 6 2,025
30-Apr-19 6,850 30% 3 514

55,948 10,827
 RIZWAN AND COMPANY Prepared by : Reviewed by : Schedule
Chartered Accountants Haroon Altaf

Client : Ghani Global Glass Limited

Year : June 30, 2019 Vehicles
Subject : Depreciation on Vehicles

Objective:
To ensure accuracy of depericiation and valuation of asset.

Workdone:
1. Verified opening balances with previous year audited accounts.
2. Verified the addition made during the year, through supporting documents.
3. Verified that transactions are relevant to the year and approved by relevant authority
4. Recalculated the depreciation charge and matched with the GL.

Opening Closing Acc.

Cost Depreciation NBV
Acc.Dep Dep

Opening Balance 27,256,430 9,255,412

Disposal during the year (642,735) (526,687) -
26,613,695 8,728,725 2,682,746 11,411,470 15,202,225

Additions during the year 190,040 - 12,347 12,347 177,693

Dep on Disposal during the year - - - -
Total 26,803,735 8,728,725 2,695,092 11,423,817 15,379,918

Additions during the year

Date Cost Rate Months Depreciation

12-Oct-18 69,605 15% 9 7,831

16-Apr-19 120,435 15% 3 4,516

190,040 12,347

Disposal during the year

Purchase Disposal Accumulated
Description Date Date Cost depreciation WDV Sale Price Gain/(loss)

SUZUKI
CULTUS:
LEC-08-849 1-Sep-07 17-Jul-18 642,735 532,014 110,721 290,000 179,279###
###

642,735 290,000
 RIZWAN AND COMPANY Prepared Reviewed Schedule:
Chartered Accountants By: By:

Client : Ghani Global Glass Limited Haroon

Year End : June 30, 2019 Altaf
Sub L/S : Capital work in progress - at cost

Objective:
To ensure sufficient and appropriate audit procedures are applied and evidences obtained to verify
valuation, existence, rights & obligations and completeness of capital work in progress.

Work done:
Verified opening balances with previous year audited accounts.
Verified the addition made during the year, through supporting documents.
Verified that transactions are relevant to the year and approved by relevant authority
Balance at June 30, 2018 agreed wih GL

30-Jun-19 30-Jun-18
Code Particulars Ref
Amount Amount

Civil works 31,241,731 30,427,071

31,241,731 30,427,071
Conclusion : Based on procedures performed conclusion obtained is satisfactory
 RIZWAN AND COMPANY Prepared Reviewed Schedule:
Chartered Accountants By: By:

Client : Ghani Global Glass Limited Haroon Altaf

Year End : June 30, 2019
Subject : Capital work in progress - Civil Works

Objective:
To ensure sufficient and appropriate audit procedures are applied and evidences obtained to verify
valuation, existence, rights & obligations and completeness of capital work in progress.

Work done:
Verified opening balances with previous year audit file.
Balance at June 30, 2018 agreed wih GL

30-Jun-19 30-Jun-18
Code Particulars Ref
Amount Amount

Opening balance 30,427,071 16,273,038

Addition during the year 814,660 14,154,033

Closing Balance 31,241,731 30,427,071

Conclusion : Based on procedures performed conclusion obtained is satisfactory
 RIZWAN & COMPANY
Chartered Accountants Total Amount: 814,660

Client : Ghani Global Glass Limited Verfied Amount: -

Year end : June 30, 2019
Subject : Civil Work

Date Vr. # Vr. Type Description Amount 1 2 3 4 5 6 7 8 9

Payment made to Qadir steel works against purchased of

26-Dec-17 537 JVS a a a a a a a a a
Steels for building civil works.

a a a a a a a a a

1 Actual invoice(s) are attached 2 Approval from the authorised person 3 Traced in ledger
4 Supporting document(s) are attached 5 Tax deducted (where applicable) 6 Amounts relates to the period under review
7 Amount posted in correct account 8 Amounts posted with correct amount 9 Traced from bank statement
r No a Yes N N/A
 RIZWAN AND COMPANY Prepared Reviewed Schedule:
Chartered Accountants By: By:

Client : Ghani Global Glass Limited Haroon Altaf

Year End : June 30, 2019
Sub L/S : Intangible Asset

Objective:
To ensure sufficient and appropriate audit procedures are applied and evidences obtained to verify
valuation, existence, rights & obligations and completeness of Intangible assets.

Work done:
Verified opening balance are as per audited accounts.
Obtained impairment of goodwill from management
The recoverable amount was calculated on the basis of five year financial business plan
Ensured that the closing balance is as per GL.
Obtained board approval for additions in Intangible assets

30-Jun-19 30-Jun-18
Code Particulars Ref
Amount Amount

Intangible Asset 19,794,072 19,794,072

19,794,072 19,794,072
Conclusion : Based on procedures performed conclusion obtained is satisfactory
 RIZWAN & COMPANY Prepared By Reviewed Schedule
Chartered Accountants By:
Haroon Altaf
Client : Ghani Global Glass Limited
Year End : June 30, 2019 Date: Date:
Sub L/S : Intangible Assets

Nature:

Goodwill represents the difference between the cost of the acquisition (fair value of consideration paid) and the fair value of the net identifiable assets acquired at the time of merger of Libaas Textile Limited
with and into the Company.

Work Done:

- Verified the opening balance with previous period audited accounts

- Obtained impairment of goodwill from management
- 'The recoverable amount was calculated on the basis of five year financial business plan which assumes cash inflows from investing and financing activities.
- Obtained impairment of goodwill from management

Conclusion:

The Company assessed the recoverable amount at June 30, 2019 and determined that as of this date there is no indication of impairment of goodwill. The recoverable amount was calculated on the basis of
five year financial business plan which assumes cash inflows from investing and financing activities.

Intangible assets
2019
Balance at 1st July 2018 For the year Balance at 30 June 2019
Rates
Description Accumulated Net Book Accumulated Net Book
Cost Additions Cost %
Amortization Value Amortization Value
-----------------------------------------------------------(Rupees)--------------------------------------------------

Goodwill 19,794,072 - 19,794,072 19,794,072 - 19,794,072 0%

June 30, 2019 19,794,072 - 19,794,072 - 19,794,072 - 19,794,072

June 30, 2018 - - - 19,794,072 19,794,072 - 19,794,072