LANDMARK SPINNING INDUSTRIES LIMITED
NOTES TO THE ACCOUNT (UN – AUDITED)
FOR THE NINE MONTHS ENDED MARCH 31, 2007
| 1. Nature and Status of Business
The company was incorporated in Pakistan as a Private Limited Company on October 21; 1991 ad was converted into a Public limited Company on The Company Commenced its commercial operations in October 1, 2001 after reactivation of plant which remained idle for seven years. However, the company has suspended its production on November 29, 2002 to forestall the recurring losses until the market trend become conducive for positive results. The management feels that this stoppage is temporary and upon the utility provision of gas supplies, the production will be expected to commence in future. These interim financial statement have been prepared in accordance with the requirement of international Accounting Standard-34(IAS-34)”Interim Financial Reporting “and being submitted to the shareholders under section 245 of the Companies Ordinance, 1984. The Accounting Policies adopted for the preparation of 3rd Quarterly Financial Statements are the same as those applied in the preparation for the proceeding year annual Financial Statements of the Company for the year ended June 30, 2006 No. Depreciation on Assets except a Hut at Sandspit (Lease hold) & Vehicles has been charged during the period as their has been no production activity and the same has also been mentioned in note no. 1 of these financial statement. There is no significant change in Contingencies during the period. 6. Date of Authorization for issue These Financial Statement were authorized for issue on April , 2007 by the Board of Directors of the Company.
AKBER ALI HASHWANI AMIN A .HASHWANI
Place: Karachi |