Colony Textile Mills : Transmission of Annual Report for the Year Ended 2023-06-30

ANNUAL REPORT 2023

In the Name of Almighty Allah The Most Beneficient

The Most Merciful

COLONY TEXTILE MILLS LIMITED

ACCOUNTS FOR THE YEAR

ENDED

JUNE 30, 2023

COLONY TEXTILE MILLS LIMITED

ANNUAL REPORT 2023

Vision

To explore and create opportunities, remain at the forefront of innovation and meet the expectations of stakeholders at every stage, every year, while remaining humble in perception and true to our values.

Mission

To take Colony to new heights with an eye on the future; for the business, for our employees and for our stakeholders.

COLONY TEXTILE MILLS LIMITED

ANNUAL REPORT 2023

Business Ethics

and Practices

Our Core business is to produce and supply of Textile Products to local and international

our top priority, we follow the under mentioned business practices for the achievement of the desired results of customer satisfaction.

HUMAN RESOURCE DEVELOPMENT

We believe in individual respect and growth. Our employment and HR policies develop individuals without race, religion, gender or any discrimination factor. We provide equal opportunities to all the employees under a team based working environment. We provide all the possible support to all our employees to enhance their knowledge and vision keeping in view of their own limitations.

SOCIAL AND COMMUNITY COMMITMENTS

ethical, in supporting all the deserving individuals of the society. We feel it is our responsibility to play our role in the development of the society and do maximum within our own limitations for the community at large.

RISK MANAGEMENT

Our risk management policies are geared to enhance share holders worth, improve credit worthiness and minimize credit risk while diversifying income, along with suppliers and

institutions as we take them as our business partners.

TRANSPARENT FINANCIAL POLICIES

. We are

following all the applicable laws and best accounting practices while preparing t statements for the stakeholders.

CORPORATE GOVERNANCE

We as a responsible corporate citizen strongly adhere to the Corporate Governance principles and comply with the regulatory obligations enforced by regulatory agencies for improving corporate performance. We believe in up rightness of performance and expect it to be a fundamental responsibility of our employees to act in the best interest of the company without compromising on the rules and regulations enforced by the regulators.

MARKETING AND INDUSTRY PRACTICES

All our marketing polices are customer focused. We believe in One Window Solution and customer satisfaction. Our marketing policy is only based on these two parameters and to

making a close liaison with markets, customers and their needs.

COLONY TEXTILE MILLS LIMITED

ANNUAL REPORT 2023

Contents

Company Information	5
Notice of Annual General Meeting	7
Chairman's Review	12
Directors' Report to the Members	13
Statement of Compliance with Listed Companies	20
(Code of Corporate Governance) Regulations, 2019
Independent Auditors' Review Report	22
Independent Auditors' Report	23
Statement of Financial Position	28
Statement of Profit or Loss	30
Statement of Comprehensive Income	31
Statement of Cash Flows	32
Statement of Changes in Equity	33
Notes to the Financial Statements	34
Consolidated Independent Auditors' Report	68
Consolidated Statement of Financial Position	72
Consolidated Statement of Profit or Loss	74
Consolidated Statement of Comprehensive Income	75
Consolidated Statement of Cash Flows	76
Consolidated Statement of Changes in Equity	77
Consolidated Notes to the Financial Statements	78
Pattern of Shareholding Report	110
Financial Highlights	115
	124
Form of Proxy	125

COLONY TEXTILE MILLS LIMITED