Page 132 - Interloop Annual Report 2018-2019

NOTES TO THE UNCONSOLIDATED NOTES TO THE UNCONSOLIDATED

FINANCIAL STATEMENTS FINANCIAL STATEMENTS

FOR THE YEAR ENDED JUNE 30, 2019 FOR THE YEAR ENDED JUNE 30, 2019

7.3 Details of immovable property in the name of the Company: 2019 2018
Usage Location Area Note Rupees in ‘000
{ Chak # 194 RB. 1 - KM, Jaranwala Road, Khurrianwala, Faisalabad. 2 Acres 8 Kanals 13 Marlas Considered good - Secured
Plant 1 Chak # 76 RB. 1 - KM, Jaranwala Road, Khurrianwala, Faisalabad. 19 Acres 7 Kanals 12 Marlas 10. LONG TERM LOANS
Chak # 108 RB. 1 - KM, Jaranwala Road, Khurrianwala, Faisalabad.
9 Marlas
Park - (Plant 2, Plant 4 & Spinning) { Chak # 103 RB, 7 - KM, Jaranwala Road, Khurrianwala, Faisalabad. 97 Acres 19 Kanals 9 Marlas 5 Sarsai Loans to employees 10.1 43,112 60,747
Interloop Industrial
Loan to director
-
10.2
22,650
14 Acres 3 Kanals 12 Marlas
Chak # 106 RB, 6 - KM, By Pass Road, Khurrianwala, Faisalabad.
Chak # 103 RB, 7 - KM, Jaranwala Road, Khurrianwala, Faisalabad. 38 Acres 15 Kanals 15 Marlas 65,762 60,747
Plant 3 8 - KM, Manga Raiwind Road, Distt. Kasur, Lahore. 41 Acres 3 Kanals 8 Marlas
10.1 Loans to employees
Denim Division 8 - KM, Manga Raiwind Road, Distt. Kasur, Lahore. 26 Acres 7 Kanals 14 Marlas
Plant 5 Chak # 106 RB, 6 - KM, By Pass Road, Khurrianwala, Faisalabad. 75 Acres 13 Kanals 13 Marlas Opening balance 108,496 92,647
Add: disbursement made during the year 10.1.1 78,870 69,149
Office Block Chak # 200 RB, Near Toll Plaza Gatwala, Lathianwala, Faisalabad. 2 Acres 13 Marlas 5 Sarsai 187,366 161,796
Less: amount received during the year (90,571) (53,300)
96,795 108,496
Less: receivable within twelve months (53,683) (47,749)
2019 2018
Note Rupees in ‘000 43,112 60,747
8. INTANGIBLE ASSETS 10.1.1 These loans are given to employees as per approved policy of the Company and are secured against employees retirement benefits.
Computer Software 10.2 Loan to director
Opening balance - -
Cost:
Opening balance 98,196 92,620 Add: disbursement made during the year 10.2.1 25,750 -
Addition during the year 32,798 5,576 25,750 -
130,994 98,196 Less: amount received during the year - -
25,750 -
Amortization: Less: receivable within twelve months (3,100) -
Opening balance 55,786 45,415
For the year amortization 9,047 10,371 22,650 -
64,833 55,786
10.2.1 This represents loan paid to an executive director of the Company as per house building finance policy of the Company. Under the policy, home
Net book value 66,161 42,410 ownership grant of Rs. 2.5 million and mortgage assistance of Rs. 23.25 million is disbursed during the year. Tenure of both the home ownership grant
and mortgage assistance is for a period of six years. Mortgage assistance is repayable in 60 equal monthly installments along with mark up thereon.
Amortization rate 20% 20%
11. LONG TERM DEPOSITS
9. LONG TERM INVESTMENTS
Considered good:
Unquoted - at cost
Security deposits - unsecured 28,019 24,817
Associated company Lease key money - 238
IL Bangla Limited 9.1 308,735 379,549 28,019 25,055
Subsidiary company 12. STORES AND SPARES
IL Apparel (Pvt) Limited 9.2 700,000 1,000 Stores 233,322 185,234
Spares 654,337 593,964
1,008,735 380,549 887,659 779,198
9.1 IL Bangla Limited
13. STOCK IN TRADE
Cost of investment 9.1.1 379,549 379,549
Provision for impairment loss (70,814) - Raw material 3,730,840 3,166,265
308,735 379,549 Work in process 597,562 471,276
Finished goods 1,954,089 1,484,177
6,282,491 5,121,718 2018 - 19
9.1.1 31.825 million (2018: 31.825 million) ordinary shares of BD Takas 10/- each amounting to BD Takas 318.250 million (2018: BD Takas 318.250 mil-
Interloop Limited 9.2 50 million (2018: 0.1 million) ordinary shares of Rs. 10/- each amounting to Rs. 500 million (2018: Rs. 1 million) and Rs. 200 million as share deposit Annual Report
lion). Equity held 31.61% (2018: 43.75%).
money. Equity held 100%.

130 131