M/S MAJEED TRADERS

PROJECTED STATEMENT OF FINANCIAL POSITION

AS AT JUNE 30, 2024 TO 2025

Projected Projected
2025 2024 2023
Note (Rupees) (Rupees) (Rupees)

ASSETS

NON-CURRENT ASSETS
Property, Plant and Equipment 3 12,380,392 14,003,165 16,028,753
(at cost less accumulated depreciation)

CURRENT ASSETS
Stores & Ghee 4 66,051,297 60,046,634 54,587,849
Trade Receivables 14,003,383 12,176,854 10,588,569
Cash and Bank Balances 5 773,478 449,478 378,792
80,828,158 72,672,966 65,555,210

93,208,551 86,676,132 81,583,963

CAPITAL AND LIABILITIES

CAPITAL ACCOUNT

Capital Account 6 85,110,281 78,682,498 72,407,850

85,110,281 78,682,498 72,407,850

NON-CURRENT LIABILITIES
Vehicle on Lease - - 1,319,000
- - 1,319,000

CURRENT LIABILITIES

Short Term Borrowings 6,500,000 6,500,000 6,450,822

Creditors, Accrued Expenses and other Liabilities 7 1,598,270 1,493,634 1,406,292
8,098,270 7,993,634 7,857,114

93,208,551 86,676,132 81,583,963

The annexed notes form an integral part of these accounts

PROPRIETOR
 M/S MAJEED TRADERS
PROJECTED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDING JUNE 30, 2024 TO 2025

Projected Projected
2025 2024 2023
Note (Rupees) (Rupees) (Rupees)

Sales 468,522,738 425,929,762 387,208,874

Cost of Sales 9 428,586,984 389,624,531 354,477,745
GROSS PROFIT 39,935,753 36,305,230 32,731,129

OPERATING EXPENSES

Administrative Expenses 10 8,761,794 8,453,207 8,266,041

Financial charges 11 1,625,000 1,625,000 1,505,000
10,386,794 10,078,207 9,771,041
OPERATING PROFIT FOR THE YEAR 29,548,959 26,227,024 22,960,088

Other Income - - -
NET PROFIT BRFORE TAX 29,548,959 26,227,024 22,960,088

Taxation 9,462,136 8,299,458 7,156,031

NET PROFIT AFTER TAX 20,086,824 17,927,565 15,804,057

- -

The annexed notes form an integral part of these accounts

PROPRIETOR
 M/S MAJEED TRADERS
PROJECTED CASH FLOW STATEMENT
FOR THE YEAR ENDING JUNE 30, 2024 TO 2025

Projected Projected
2025 2024 2023
(Rupees) (Rupees) (Rupees)
Cash Inflow/Outflow from Operating Activities
Profit before adjustments 20,086,824 17,927,565 15,804,057

Adjustments of non cash items:

Depreciation 2,058,437 2,359,246 2,726,077
2,058,437 2,359,246 2,726,077
Operating profit before working capital changes 22,145,261 20,286,811 18,530,134

Changes in Working Capital:

(Increase)/Decrease in Current Assets
Stores & Ghee (6,004,663) (5,458,785) (8,560,995)
Trade Receivables (1,826,528) (1,588,285) (1,487,951)
(7,831,192) (7,047,070) (10,048,946)
Increase/(Decrease) in Current Liabilities
Creditors, Accrued Expenses and other Liabilities 104,636 87,343 54,128
104,636 87,343 54,128

Taxation - - -
- - -

Net Cash Flow from Operating Activities 14,418,705 13,327,084 8,535,316

Cash Inflow/(Outflow) from Investing Activities

Purchase of Fixed Assets (435,664) (333,658) (460,185)
Net Cash used in Investing Activities (435,664) (333,658) (460,185)

Cash Inflow/(Outflow) from Financing Activities

Capital Introduced - - -
Drawings (13,659,040) (11,652,917) (7,111,826)
Vehicle on Lease - (1,319,000) (367,030)
Short Term Borrowings - 49,178 (4,456,178)
Net Cash used in Financing Activities (13,659,040) (12,922,739) (11,935,034)

Total Cash Inflow / (Outflow) during the Year 324,001 70,686 (3,859,903)

Cash and Cash Equivalent at the Beginning of the Year 449,478 378,792 4,238,695

Cash and Cash Equivalent at the End of the Year 773,478 449,478 378,792
PROPRIETOR
 M/S MAJEED TRADERS
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDING JUNE 30, 2024 TO 2025

1 STATUS AND NATURE OF BUSINESS

"M/S MAJEED TRADERS" is a sole proprietorship engaged in trading business.

2 SIGNIFICANT ACCOUNTING POLICIES

The following accounting policies have been adopted in preparation of theses financial statements:

2.1 Accounting Convention

These financial statements have been prepared under the historical cost convention expected as other wise
stated in the respective policies and notes given hereunder.

These financial statements have been prepared in Pakistani Rupees, which is the company's functional
currency. All financial informations presented in Rupees has been rounded to the nearest Rupee, except
when otherwise indicated.

2.2 Significant Accounting Estimates and Judgements

The preparation of financial statements in conformity with the Accounting and Financial reporting
Standards for Medium- Sized entities issued by the Institute of Chartered Accountants Of Pakistan requires
management to make judgments, estimates and assumptions that affect the application of policies and
reported amounts of assets and liabilities, income and expenses. The estimates and associated assumption
are based on historical experiences and various other factors that are belived to be reasonable under the
circumstances, the result of which form the basis of making the judgments about carrying values of assets
and liabilities that are not readily apparent form other sources. Actual results may differ from these
estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognized in the period in which estimates are revised.

Significant areas requiring use of management estimates in these financial statements relate to the useful
life of depreciable, provision for doubtful receivable and slow moving inventory. However, assumptions
and judgments made my management in the application accounting policies that have significant effect on
the financial statements are not expected to results in material adjustment to the carrying amounts of assets
and liabilities in the next year.

2.3 Property, Plant and Equipment

These are stated at cost less accumulated depreciation and impairment losses, if any. Cost comprises
acquisition and other directly attributable costs. The asset is capitalized on the basis of probability of inflow
of future economic benefits and the reliability of the cost measurement.

Depreciation is provided by using reducing balance method and charged to Statement of Comprehensive
Income to write off the depreciable amount of each asset over its useful life at the rates specified in the note
3. Depreciation is calculated on the annual basis. Full year depreciation is charged in the year of acquisition
and no depreciation is charged in the year of disposal.

Maintenance and normal repairs are charged to income as and when incurred; major renewals and
improvements are capitalized. Gains or losses on disposal or retirement of fixed assets, if any are taken to
the Statement of Comprehensive Income for the year.
 The organization reviews the useful life and residual value of property, plant & equipment on regular basis.
Any change in estimates in respect of future years might affect the carrying value of the asset along with the
depreciation amount.

2.4 Trade and other receivables

Trade and other receivables are carried at original invoice amount less provision for impairment. Known
bad debts are written off, while provisions are made against debts considered doubtful based on review of
outstanding amount at the end of the year.

2.5 Trade and other payable

Liabilities for trade and other payables are carried at cost which is the fair value of the consideration to be
paid in the future for goods and services received.

2.6 Revenue recognition

Revenue is recognized when goods are dispatched to the customers.

2.7 Borrowing Cost

Borrowing cost are recognized as an expenses in the period they are incurred. Borrowing costs that are
directly attributable to the acquisition, construction or production of a qualifying asset are capitalised as a
part of the asset.

2.8 Provision
Provisions are recognized when the company has a present legal or constructive obligation as a result of
past events, it is probable that an outflow of resources embodying economic benefits will be required to
settle the obligation and a reliable estimate can be made. Provisions are reviewed at each balance sheet date
and adjusted to reflect the best estimates.

2.9 Cash and cash equivalents

Cash and cash equivalents comprise cash in hand and at banks. Cash equivalents are highly liquid
investments that are readily convertible to known amounts of cash and which are subject to insignificant
risk of changes in value.
3 PROPERTY, PLANT AND EQUIPMENT

C O S T D E P R E C I A T I O N W.D.V.

RATE %
PARTICULARS AS AT ADDITIONS/ AS AT UP TO FOR THE UP TO AS AT
01-07-2023 (DELETION) 30-06-2024 01-07-2023 YEAR 30-06-2024 30-06-2024

Motor Vehicle 34,850,000 - 34,850,000 15 25,912,311 1,340,653 27,252,964 7,597,036

Motor Vehicle- Leased 6,424,047 - 6,424,047 15 3,070,654 503,009 3,573,663 2,850,384
Furniture & Fixtures 714,860 - 714,860 10 356,347 35,851 392,198 322,662
Office Decoration 556,250 - 556,250 10 323,261 23,299 346,560 209,690
Electric Equipments 725,313 166,822 892,136 10 294,181 59,795 353,977 538,159
Computers & Accessories 226,141 47,965 274,106 10 96,785 17,732 114,517 159,589
Office Equipments 358,548 72,247 430,795 10 157,696 27,310 185,006 245,789
Other Assets 619,292 148,630 767,922 10 291,858 47,606 339,465 428,458
Generator 95,000 - 95,000 10 63,193 3,181 66,374 28,626

2025 (Rupees) Projected 44,569,451 435,664 45,005,115 30,566,286 2,058,437 32,624,723 12,380,392
2024 (Rupees) Projected 44,235,793 333,658 44,569,451 28,207,040 2,359,246 30,566,286 14,003,165
3 PROPERTY, PLANT AND EQUIPMENT

C O S T D E P R E C I A T I O N W.D.V.

RATE %
PARTICULARS AS AT ADDITIONS/ AS AT UP TO FOR THE UP TO AS AT
01-07-2023 (DELETION) 30-06-2024 01-07-2023 YEAR 30-06-2024 30-06-2024

Motor Vehicle 34,850,000 - 34,850,000 15 24,335,072 1,577,239 25,912,311 8,937,689

Motor Vehicle- Leased 6,424,047 - 6,424,047 15 2,478,879 591,775 3,070,654 3,353,393
Furniture & Fixtures 714,860 - 714,860 10 316,512 39,835 356,347 358,513
Office Decoration 556,250 - 556,250 10 297,373 25,888 323,261 232,989
Electric Equipments 594,519 130,794 725,313 10 246,278 47,904 294,181 431,132
Computers & Accessories 186,585 39,556 226,141 10 82,412 14,373 96,785 129,356
Office Equipments 298,541 60,007 358,548 10 135,379 22,317 157,696 200,852
Other Assets 515,991 103,301 619,292 10 255,477 36,382 291,858 327,434
Generator 95,000 - 95,000 10 59,659 3,534 63,193 31,807

2024 (Rupees) Projected 44,235,793 333,658 44,569,451 28,207,040 2,359,246 30,566,286 14,003,165
2023 (Rupees) Actual 43,775,608 460,185 44,235,793 25,480,963 2,726,077 28,207,040 16,028,753
3 PROPERTY, PLANT AND EQUIPMENT

C O S T D E P R E C I A T I O N W.D.V.

RATE %
PARTICULARS AS AT ADDITIONS/ AS AT UP TO FOR THE UP TO AS AT
01-07-2022 (DELETION) 30-06-2023 01-07-2022 YEAR 30-06-2023 30-06-2023

Motor Vehicle 34,850,000 - 34,850,000 15 22,479,496 1,855,576 24,335,072 10,514,928

Motor Vehicle- Leased 6,424,047 - 6,424,047 15 1,782,673 696,206 2,478,879 3,945,168
Furniture & Fixtures 576,500 138,360 714,860 10 272,251 44,261 316,512 398,348
Office Decoration 556,250 - 556,250 10 268,609 28,764 297,373 258,877
Electric Equipments 471,841 122,679 594,519 10 207,584 38,694 246,278 348,242
Computers & Accessories 151,695 34,890 186,585 10 70,837 11,575 82,412 104,173
Office Equipments 240,759 57,782 298,541 10 117,250 18,129 135,379 163,162
Other Assets 409,517 106,474 515,991 10 226,530 28,946 255,477 260,514
Generator 95,000 - 95,000 10 55,732 3,927 59,659 35,341

2023 (Rupees) Actual 43,775,608 460,185 44,235,793 25,480,963 2,726,077 28,207,040 16,028,753
2022 (Rupees) Actual 43,592,177 183,431 43,775,608 22,336,338 3,144,626 25,480,963 18,294,645
 M/S MAJEED TRADERS
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDING JUNE 30, 2024 TO 2025
Projected Projected
2025 2024 2023
Note (Rupees) (Rupees) (Rupees)

4 STORES AND GHEE

Stores and Ghee 66,051,297 60,046,634 54,587,849
66,051,297 60,046,634 54,587,849

5 CASH AND BANK BALANCES

Cash and Cash Equivalents 773,478 449,478 378,792

773,478 449,478 378,792

6 CAPITAL ACCOUNT

Opening Balance 78,682,498 72,407,850 63,715,618

Profit for the year 20,086,824 17,927,565 15,804,057
98,769,321 90,335,415 79,519,675

Less: Drawings (13,659,040) (11,652,917) (7,111,826)

85,110,281 78,682,498 72,407,850

7 CREDITORS, ACCRUED EXPENSES & OTHER LIABILITIES

Sundry Creditors & Accrued Expenses 868,120 789,200 717,455

Accrued Expense 730,149 704,434 688,837
1,598,270 1,493,634 1,406,292

8 COST OF SALES
Opening Balance 60,046,634 54,587,849 46,026,854
Purchases 431,040,919 391,855,381 360,104,253
Total Stock 491,087,552 446,443,229 406,131,107

Less: Closing Stock (66,051,297) (60,046,634) (54,587,849)

425,036,255 386,396,596 351,543,258
Other Direct Expense 3,550,729 3,227,935 2,934,487
428,586,984 389,624,531 354,477,745
 M/S MAJEED TRADERS
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDING JUNE 30, 2024 TO 2025
Projected Projected
2025 2024 2023
Note (Rupees) (Rupees) (Rupees)

9 ADMINISTRATIVE EXPENSES

Staff Salaries and Wages 1,891,673 1,719,703 1,563,366

Shop/Gadown Rent 2,874,476 2,613,160 2,375,600
Travelling and Conveyance 27,350 24,864 22,603
Repair And Maintenance 434,268 394,789 358,899
Printing and Stationery 39,357 35,779 32,527
Newspaper and Periodicals 12,471 11,337 10,306
Utilities Charges 99,897 90,815 82,559
Legal & Professional Charges 70,329 63,936 58,123
P.O.L 1,115,207 1,013,824 921,658
Muscellaneous Expenses 18,192 16,538 15,035
Rent, Rate & Taxes 57,787 52,534 47,758
Charity & Donations 57,153 51,957 47,234
Bank Charges 5,198 4,726 4,296
Depreciation 3 2,058,437 2,359,246 2,726,077
8,761,794 8,453,207 8,266,041

10 FINANCIAL EXPENSES

Mark - Up on RF 1,625,000 1,625,000 1,505,000

Mark - Up on Leased Vehicle - - -
1,625,000 1,625,000 1,505,000

11 GENERAL

-- Figures have been rounded off to the nearest rupee.

Figures of the previous year have been re-arranged and regrouped whereever necessary for the purpose of
--
comparison.

PROPRIETOR