Page 131 - InterloopAnnualReport2021

NOTES TO THE

FINANCIAL STATEMENTS

For the year ended June 30, 2021

2021 2020
(Rupees ‘000) (Rupees ‘000)
Discount rate + 100 bps (3,409,319) (2,792,109)
Discount rate - 100 bps 4,293,648 3,529,169
Salary change + 100 bps 4,299,249 3,535,318
Salary change - 100 bps (3,396,937) (2,780,665)

The sensitivity analysis of the defined benefit obligation to the significant actuarial assumptions has been
performed using the same calculation techniques as applied for calculation of defined benefit obligation
reported in the statement of financial position.

26.1.8 The average duration of defined benefit obligation for the year ended 2021 is 12 years (2020: 12 years).

2021 2020
Note (Rupees ‘000) (Rupees ‘000)

26.2 Movement in deferred income is as follows;
Opening balance 39,083 –
Government grant recognized 70,919 42,091
Transfer upon amalgamation 10,778 –
For the year amortization (70,582) (3,008)
50,198 39,083
Current portion of deferred income 30 (45,143) (24,568)
Closing balance 5,055 14,515

26.2.1 There are no unfulfilled conditions or other contingencies attaching to these grants.

2021 2020
Note (Rupees ‘000) (Rupees ‘000)

27. TRADE AND OTHER PAYABLES
Creditors 27.1 1,909,705 850,123
Accrued liabilities 27.2 2,727,736 1,722,530
Advances from customers 49,229 19,007
Other payables 249,117 224,288
Employees provident fund trust 27.3 3,898 3,013
Withholding tax payable 62,808 55,513
Workers’ profit participation fund 27.4 365,241 113,577
Workers’ welfare fund 183,907 43,180
5,551,641 3,031,231

27.1 It includes payable to following related parties;
Interloop Holdings (Pvt) Limited 30,100 –
Octans Digital (Pvt) Limited 2,299 –
PrintKraft (Pvt) Limited 16,532 –
Socks & Socks (Pvt) Limited 65 –
Momentum Logistics (Pvt) Limited 27,443 –
76,439 –

27.2 It includes an amount of Rs. 326.259 million (2020: Rs. 262.691 million) relating to infrastructure cess
payable and Rs. 26.37 million (2020: Rs. 23.43 million) relating to associate company- Global Veneer
Trading Limited.

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