Leather Up : Transmission of Quarterly Report for the Period Ended 30-09-2022

Financial Statements For The Period Ended September 30, 2022 (UNAUDITED)

FINANCIAL STATEMENTS FOR THE PERIOD ENDED SEPTEMBER 30, 2022 (UNAUDITED)

Financial Statements For The Period Ended September 30, 2022 (UNAUDITED)

COMPANY PROFILE

	Board of Directors
Khalid H. Shah	Chief Executive/ Director	Mahmooda Shah	Director
Jazim Shah	Director / Chairman	S. Faisal Shah	Director
Mohsin Khursheed	Director	Farooq Raza	Director
Shaikh Abdus Sami	Director
Board Audit Committee
Mohsin Khursheed	Chairman
Shaikh Abdus Sami	Member
Mahmooda Shah	Member
Human Resource Committee
Mohsin Khursheed	Chairman
S. Faisal Shah	Member
Mahmooda Shah	Member

Chief Financial Officer / Company Secretary

Ali Ahmar

Auditors

UHY Hassan Naeem & Co.

Legal Advisor

Maqsood Ahmad Bullo & Company

Advocate

Bankers
MCB Bank Ltd	United Bank Ltd	Faysal Bank Ltd
Summit Bank Ltd	Askari Bank Ltd	Meezan Bank Ltd
Bank Al-falah Ltd	Bank Al Habib Ltd

Registered Office/Factory

Plot # 23/C, 15th Commercial Street Phase II Extension, Defence Housing Authority, Karachi. Phone: [phone] Fax: [phone]

E-mail: [e-mail]

Website: www.leatherupltd.com

Share Registrar Office

M/s C&K Management Associates (Pvt) Limited

404, Trade Tower, Abdullah Haroon Road, Near Hotel Metroplole, Karachi-75530 Phone: [phone]

Financial Statements For The Period Ended September 30, 2022 (UNAUDITED)

DIRECTORS REPORT

The Directors of your Company have pleasure in submitting the report on condensed interim statements of accounts (unaudited) for the first quarter ended September 30, 2022.

Company Performance:

Company's net revenue for first quarter September 2022 is Rs. 10.676

million as compared to net revenue of Rs. 7.889 million of the corresponding period of last year. Whereas Loss before taxation of the company remained at Rs. 0.395 million only as compared to Profit before taxation Rs. 0.199

million of comparable period of last year.

Future Out look

In spite of various challenges, the company for its part remains focused on improving its operational efficiencies, exploring new markets, effectively minimizing the production costs and focusing on the right performance levers.

Despite uncertainty all over the world in general and leather industry in particular, the management of your company is very keen to safeguard the interest of shareholders of the company. We are trying our level best to remain stable in the current situation, and are making best efforts to have export orders of considerable value from its existing buyers/customers as well as exploring new markets in order to maintain its exports on upward trends. We do hope that the company would be able to make reasonable exports in the upcoming future. Company is aggressively participating in international forum to boost up the sales.

Thanks to our shareholders for their trust and support now as well as in difficult times

By order of the board

Karachi: October 29, 2022	Khalid H. Shah
	(Chief Executive Officer)

Financial Statements For The Period Ended September 30, 2022 (UNAUDITED)

۔ٹروپر زرٹکیرئاڈ

ریغب( تانایب یروبع ہدیجنس ےک سٹنؤاکا ےئل ےک یہام ہس یلہپ یلاو ےنوہ متخ وک 2022 ربمتس 30 زرٹکیرئاڈ ےک ینپمک یک پآ ۔ںیہ ےترک سوسحم یشوخ ںیم ےنرک شیپ ٹروپر رپ )ےئوہ ےھڑپ.

گدرکراک یک ینپمک

ےک تقو یسا لاس ےلھچپ وج یھت ےپور نیلم 10.676 یندمآ صلاخ یک ینپمک ںیم یہام ہس یلہپ یلاو ےنوہ متخ وک 2022 ربمتس

تدم یسا لاس ہتشزگ ہک وج اہر ےپور نیلم 0.395 فرص ناصقن لبق ےس سکیٹ اک ینپمک ہکبج ۔یھت ےپور نیلم 7.889 نارود

۔اھت ےپور نیلم 0.199 ںیم عفانم لبق ےس سکیٹ نارود ےک

ہیرظن اک لبقتسم ےقیرط رثؤم وک تگلا یراوادیپ ، شلات یک ںویڈنم یئن ، ےنانب رتہب وک ںوتیحلاص لنشیرپآ ینپا ینپمک ، دوجواب ےک ںوجنلیچ فلتخم ۔ےہ زوکرم رپ ےنرک زوکرم ہجوت ینبم رپ یگدرکراک حیحص روا ےنرک مک ےس.

صصح ےک ینپمک ماظتنا اک ینپمک یک پآ ، دوجواب ےک لاحتروص ینیقی ریغ ںیم ایند یروپ ںیم تعنص یک ےڑمچ رپ روط صاخ یروپ یک حطس ینپا ےئل ےک ےنہر مکحتسم ںیم لاحتروص ہدوجوم مہ .۔ےہ دنم شہاوخ تہب ےئل ےک ظفحت ےک تادافم ےک ناگتفای ھتاس ھتاس ےک ےنرک لصاح رڈرآ یدمآرب ےک تمیق ہاوخ رطاخ ےس نیفراص / ںورادیرخ ہدوجوم ےنپا روا ، ںیہ ےہر رک ششوک

• ےک شلات یک ںوٹیکرام یئن best مہ .۔ںیہ ےہر رک ششوک یروپ ےئل ےک ےنھکر رارقرب رپ تاناحجر ےک رپوا وک تادمآرب ینپا ںیم مروف یماوقلاا نیب ےئل ےک ےناھڑب وک تخورف ینپمک .۔یگ ےکس رک تادمآرب بسانم ںیم لبقتسم ہدنئآ ینپمک ہک ںیہ ےترک دیما

۔۔ےہ یہر ےل ہصح رپ روط ہناحراج.

۔ےس مکح ےک ڈروب

یچارک

29-10-2022

۔ہاش نیسح دلاخ ۔وٹکیزگیا فیچ

LEATHER UP LIMITED

STATEMENT OF FINANCIAL POSITION

AS AT SEPTEMBER 30, 2022

			UN-AUDITED	AUDITED
			SEPTEMBER	JUNE
	2022		2022
ASSETS			------- Rupees -------
Non-current assets	2,879,166
Property, plant and equipment		2,925,345
Current assets
Stock-in-trade		15,879,695		20,678,494
Trade debts		135,461		7,754,644
Advances, deposits and other receivables		3,454,779		3,339,207
Tax refunds due from government		4,273,873		4,235,262
Cash and bank balances		4,692,212		4,104,144
	28,436,021		40,111,751
Total assets
31,315,187		43,037,096
EQUITY AND LIABILITIES
Share capital and reserves
Authorized capital		60,000,000		60,000,000
6,000,000 (2020: 6,000,000) ordinary shares of Rs. 10/- each
Issued, subscribed and paid up capital	60,000,000		60,000,000
Revenue reserves
General reserve		1,369,610		1,369,610
Accumulated (losses) / profit		(39,143,093)		(38,616,908)
	(37,773,483)		(37,247,298)
Non-current liability	22,226,517		22,752,702
1,890,572
Staff retirement benefits - gratuity		1,890,572
Current liabilities
Loan from directors		250,000		3,232,084
Trade and other payables		5,317,747		12,547,747
Unclaimed dividend		1,630,351		2,613,991
Contingency and commitments	7,198,098		18,393,822
Total equity and liabilities
31,315,187		43,037,096

The annexed notes form integral part of these financial statements

CHIEF EXECUTIVE		CHIEF FINANCIAL OFFICER			DIRECTOR

30