Salman Noman Enterprises : TRANSMISSION OF ANNUAL REPORT FOR THE YEAR ENDED JUNE-23

Annual Report

2023

FOR THE

YEAR ENDED

30 JUNE 2023

SALMAN NOMAN ENTERPRISES LIMITED

Annual Report

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CONTENTS

Company Information	02
Notice of Annual General Meeting	03
Chairman's Review Report	04
Vision & Mission Statement	05
Directors' Report to the Members	06
Key Operating and Financial Data of Last Six Year	11
Statement of Compliance with the Code of Corporate Governance	12
Independent Auditor's Review Report to the Members of
Salman Noman Enterprises Limited on the Statement of Compliance	14
with the Code of Corporate Governance
Independent Auditors' Report to the Members of Salman Noman	15
Enterprises Limited Report on the Audit of the Financial Statements
Statement Of Financial Position	20
Profit and Loss Account / Statement of Comprehensive Income	22
Cash Flow Statement	23
Statement of Changes in Equity	24
Notes to the Accounts	25
Pattern of Shareholding	45
Proxy Form	47

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SALMAN NOMAN ENTERPRISES LIMITED

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COMPANY'S INFORMATION

BOARD OF DIRECTORS	MR. NOMAN ALMAS	CHIEF EXECUTIVE-EXECUTIVE DIRECTOR
	MR. ABDUL SHAKOOR	INDEPENDENT DIRECTOR
	MR. MUHAMMAD AKRAM	INDEPENDENT DIRECTOR
	MR. NAVEED AHMED	INDEPENDENT DIRECTOR
	MR. MUHAMMAD FIAZ	CHAIRMAN-NON-EXECUTIVE DIRECTOR
	MR. MUHAMMAD RAMZAN	NON-EXECUTIVE DIRECTOR
	MR ZAHID ALI	NON-EXECUTIVE DIRECTOR
AUDIT COMMITTEE	MR. NAVEED AHMED	CHAIRMAN-INDEPENDENT DIRECTOR
	MR. ABDUL SHAKOOR	INDEPENDENT DIRECTOR
	MR. ZAHID ALI	NON-EXECUTIVE DIRECTOR
HUMAN RESOURCE	MR. MUHAMMAD AKRAM	CHAIRMAN-INDEPENDENT DIRECTOR
AND REMUNERATION	MR. MUHAMMAD FIAZ	NON-EXECUTIVE DIRECTOR
COMMITTEE	MR. MUHAMMAD RAMZAN	NON-EXECUTIVE DIRECTOR
COMPANY SECRETARY	MR. MUHAMMAD SAEED
AUDITORS	MUSHTAQ & CO.
	CHARTERED ACCOUNTANTS
LEGAL ADVISOR	FAISAL MAALIK BUTTER
REGISTERED OFFICE	3 - K.M. BALLOKI ROAD BHAI PHERU, DISTT. KASUR
REGISTRAR SHARE SERVICE	CORPLINK (PVT) LIMITED.
	WINGS ARCADE, 1-K, COMMERCIAL, MODEL TOWN LAHORE.
HEAD OFFICE:	41-LGULBERG-III, LAHORE - 54600
	WEB SITE: www.sntextile.com
	E-MAIL:[e-mail]
	[e-mail]
MILLS	3-KM, BALLOKI ROAD BHAI PHERU DISTT. KASUR.

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SALMAN NOMAN ENTERPRISES LIMITED

Annual Report

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NOTICE OF MEETING

Notice is hereby given that 38th Annual General Meeting of Members of the Company will be held on Friday 27th October, 2023 at 09:00 A.M. at Salman Noman Enterprises Limited, 3-K.M. Balloki Road, Bhai Pheru (Distt: Kasur) to transact the following business:-

1. Recitation from HOLY QURAAN.
2. To confirm the minutes of the Last Annual General Meeting.
3. To receive and adopt the audited accounts of the Company for the year ended June 30, 2023 together with the Directors' and Auditors Report thereon.
4. To appoint auditors and fix their remuneration for the year 2023-2024 M/s Mushtaq & Co Chartered Accountants, being eligible, offer themselves for re-appointment.
5. To consider any other business with the permission of the Chief.

	By Order of the Board
Dated: October 06, 2023	(MUHAMMAD SAEED)
Company Secretary

NOTE:

1. The Share Transfer Books of the Company will remain closed from October 21st, 2023 to October 27th, 2023 (both days inclusive).
2. A member entitled to attend and vote at this Meeting may appoint proxy. Proxies, in order to be effective must be received by the Company not less than 48 hours before the meeting.
3. Shareholders who have deposited their shares into Central Depository Company are advised to bring their National Identity Card along with their CDC account number at the meeting venue.
4. Shareholders are requested to notify the change in address, if any, immediately

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SALMAN NOMAN ENTERPRISES LIMITED

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CHAIRMAN'S REVIEW REPORT

I welcome to you the 38th Annual General Meeting of your Company and present on behalf of the Board of Directors, the Audited statements of Accounts for the year ended 30th June, 2023 along with my review of the performance of your company.

Since February, 2018 the company has closed its operations and due to un-favorable business environment the base of conventional industry has weakened in general as was evident from consistent plunge of Pakistan's share of textile in global market.

The management of the company are very confident that all the matters under litigation with the banking companies in the court of laws will be resolved soon and are also making their efforts for the revival of the company.

Currently, the management of the company planning to give factory either on lease for production of textile products or on rent and also the management of the company will plan accordingly once the amicable settlement with banking companies will be done.

On my and on behalf of the board of directors of your company I take this opportunity of acknowledging the devoted and sincere services of employees of the company. I am also grateful our bankers, shareholders and the government organizations.

Muhammad Fiaz

Chairman

October 06, 2023

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