UNICAP MODARABA www.unicapmodaraba.com
DIRECTOR'S REPORT
Dear Certificate holders,
The Board of Directors of Map Out Management Company (Private) Limited, Managers of UNICAP Modaraba (UCAPM) take pleasure in presenting the Half-yearly Financial Statements of the Modaraba for the six months ended December 31, 2021.
During the Half-year under review the Modaraba has made significant progress towards profitability by reducing its operations and administrative costs compared with the same period last year.
Operating expenses of the Modaraba have remained within budget.
The Modaraba will continue with its strategy of business growth by booking of productive assets and development of new products and services in future.
The Board thanked the sponsors for continuous corporate guidance and financial support since taking over of the Management of the Modaraba by Map Out Management Company Pvt Limited. The Board also acknowledges the patronage of certificate holders of the Modaraba for their continued trust and support.
The Board also appreciates dedication and hard work of the employees of the Modaraba.
The enclosed financial statements depict that the plans Map Out Management Company (Private) Limited, Managers of UNICAP Modaraba (UCAPM) and efforts put in by the employees to revive the Modaraba and to make it an active business concern are going in the right direction and begin to bear success.
On Behalf of the Board of Directors
---Sd--- | |
_________________________ | |
S. Saeed Ahmed | 31 January 2022 |
Chief Executive Officer | Lahore |
BALANCE SHEET
AS AT DECEMBER 31, 2021
December 31 | December 31 | |||
2021 | 2020 | |||
Notes | Rupees | Rupees | ||
ASSETS | ||||
Property & Equipment | 95,690 | 132,593 | ||
Cash In Hand | 89,657 | 66,900 | ||
Other receivable | - | |||
Advance Tax | 88,816 | 87,289 | ||
Investments - Stock In Trade | 56,900,000 | 55,000,000 | ||
57,174,163 | 55,286,782 | |||
LIABILITIES | ||||
Accrued and other liabilities | 1,255,242 | 925,242 | ||
Long term security deposit | - | - | ||
Payable to management company | 850,000 | 24,241,593 | ||
Provision for taxation | 901,489 | 901,489 | ||
3,006,731 | 26,068,324 | |||
54,167,432 | 29,218,458 | |||
REPRESENTED BY: | ||||
CERTIFICATE CAPITAL | ||||
Authorized | ||||
24,000,000 Modaraba Certificates of Rs.10/- each | 240,000,000 | 240,000,000 | ||
Issued, subscribed and paid-up certificates | 236,400,000 | 236,400,000 | ||
Discount on Issuance of Shares | (50,000,000) | (50,000,000) | ||
Share Deposit Money | 25,421,593 | - | ||
RESERVES | ||||
Statutory reserve | 8,738,973 | 8,738,973 | ||
Accumulated losses | (166,393,134) | (165,920,515) | ||
CONTINGENCIES | ||||
54,167,432 | 29,218,458 | |||
---Sd--- | ---Sd--- | |||
CHIEF EXECUTIVE | DIRECTOR |
PROFIT AND LOSS ACCOUNT
FOR THE HALF-YEAR ENDED DECEMBER 31, 2021
Half-Year | Quarter Ended | |||||||||
December31 | December31 | December31 | December31 | |||||||
2021 | 2020 | 2021 | 2020 | |||||||
otes - - - - - - - - - - - - - - - - - - - Rupees - - - - - - - - - - - - - - - - - - | ||||||||||
Ijarah Rental Income | - | - | - | - | ||||||
Financial Advisory | - | - | - | - | ||||||
Un-realized Gain on Investment | - | - | - | - | ||||||
Gain on Sale of Fixed Assets | - | - | - | - | ||||||
Reversal of Mark-up | - | - | - | - | ||||||
Profit on Bank Account | - | - | - | - | ||||||
- | - | |||||||||
Expense | ||||||||||
Administrative Expenses | 1,026,658 | 912,732 | (456,654) | 477,401 | ||||||
Impairment in Value of Investment | - | - | - | - | ||||||
1,026,658 | 912,732 | (456,654) | 477,401 | |||||||
Profit (Loss) before Management Fee | (1,026,658) | (912,732) | (456,654) | (878,740) | ||||||
Modaraba Company's Management Fee | - | |||||||||
Profit (Loss) before Taxation | (1,026,658) | (912,732) | (456,654) | (477,401) | ||||||
Taxation | - | |||||||||
Profit (Loss) after Taxation | (1,026,658) | (912,732) | (456,654) | (477,401) | ||||||
Earning per Certificate | (0.043) | (0.038) | (0.019) | (0.020) |
---Sd--- | ---Sd--- |
CHIEF EXECUTIVE | DIRECTOR |
STATEMENT OF COMPREHENSIVE INCOME
FOR THE HALF-YEAR ENDED DECEMBER 31, 2021
Half-Year | Quarter Ended | ||||||||
December31 | December31 | December31 | December31 | ||||||
2021 | 2020 | 2021 | 2020 | ||||||
Notes - - - - - - - - | - - | - - - - - - - - - | Rupees - - - - - - - - - | - - - - - - - - | |||||
Profit (Loss) after Taxation | (1,026,658) | (912,732) | (456,654) | (477,401) | |||||
Other Comprehensive income | |||||||||
/(loss) | - | - | - | - | |||||
Total Comprehensive (loss) | (1,026,658) | (912,732) | (456,654) | (477,401) | |||||
---Sd--- | ---Sd--- |
CHIEF EXECUTIVE | DIRECTOR |
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Unicap Modaraba published this content on 09 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 March 2022 04:50:02 UTC.
