Annual Report
2023
FOR THE
YEAR ENDED
30 JUNE 2023
SALMAN NOMAN ENTERPRISES LIMITED | Annual Report | 2 0 2 3 |
CONTENTS
Company Information | 02 |
Notice of Annual General Meeting | 03 |
Chairman's Review Report | 04 |
Vision & Mission Statement | 05 |
Directors' Report to the Members | 06 |
Key Operating and Financial Data of Last Six Year | 11 |
Statement of Compliance with the Code of Corporate Governance | 12 |
Independent Auditor's Review Report to the Members of | |
Salman Noman Enterprises Limited on the Statement of Compliance | 14 |
with the Code of Corporate Governance | |
Independent Auditors' Report to the Members of Salman Noman | 15 |
Enterprises Limited Report on the Audit of the Financial Statements | |
Statement Of Financial Position | 20 |
Profit and Loss Account / Statement of Comprehensive Income | 22 |
Cash Flow Statement | 23 |
Statement of Changes in Equity | 24 |
Notes to the Accounts | 25 |
Pattern of Shareholding | 45 |
Proxy Form | 47 |
01
SALMAN NOMAN ENTERPRISES LIMITED | Annual Report | 2 0 2 3 |
COMPANY'S INFORMATION
BOARD OF DIRECTORS | MR. NOMAN ALMAS | CHIEF EXECUTIVE-EXECUTIVE DIRECTOR |
MR. ABDUL SHAKOOR | INDEPENDENT DIRECTOR | |
MR. MUHAMMAD AKRAM | INDEPENDENT DIRECTOR | |
MR. NAVEED AHMED | INDEPENDENT DIRECTOR | |
MR. MUHAMMAD FIAZ | CHAIRMAN-NON-EXECUTIVE DIRECTOR | |
MR. MUHAMMAD RAMZAN | NON-EXECUTIVE DIRECTOR | |
MR ZAHID ALI | NON-EXECUTIVE DIRECTOR | |
AUDIT COMMITTEE | MR. NAVEED AHMED | CHAIRMAN-INDEPENDENT DIRECTOR |
MR. ABDUL SHAKOOR | INDEPENDENT DIRECTOR | |
MR. ZAHID ALI | NON-EXECUTIVE DIRECTOR | |
HUMAN RESOURCE | MR. MUHAMMAD AKRAM | CHAIRMAN-INDEPENDENT DIRECTOR |
AND REMUNERATION | MR. MUHAMMAD FIAZ | NON-EXECUTIVE DIRECTOR |
COMMITTEE | MR. MUHAMMAD RAMZAN | NON-EXECUTIVE DIRECTOR |
COMPANY SECRETARY | MR. MUHAMMAD SAEED | |
AUDITORS | MUSHTAQ & CO. | |
CHARTERED ACCOUNTANTS | ||
LEGAL ADVISOR | FAISAL MAALIK BUTTER | |
REGISTERED OFFICE | 3 - K.M. BALLOKI ROAD BHAI PHERU, DISTT. KASUR | |
REGISTRAR SHARE SERVICE | CORPLINK (PVT) LIMITED. | |
WINGS ARCADE, 1-K, COMMERCIAL, MODEL TOWN LAHORE. | ||
HEAD OFFICE: | 41-LGULBERG-III, LAHORE - 54600 | |
WEB SITE: www.sntextile.com | ||
E-MAIL:snel36@hotmail.com | ||
nauman@sntextile.com | ||
MILLS | 3-KM, BALLOKI ROAD BHAI PHERU DISTT. KASUR. |
02
SALMAN NOMAN ENTERPRISES LIMITED | Annual Report | 2 0 2 3 |
NOTICE OF MEETING
Notice is hereby given that 38th Annual General Meeting of Members of the Company will be held on Friday 27th October, 2023 at 09:00 A.M. at Salman Noman Enterprises Limited, 3-K.M. Balloki Road, Bhai Pheru (Distt: Kasur) to transact the following business:-
- Recitation from HOLY QURAAN.
- To confirm the minutes of the Last Annual General Meeting.
- To receive and adopt the audited accounts of the Company for the year ended June 30, 2023 together with the Directors' and Auditors Report thereon.
- To appoint auditors and fix their remuneration for the year 2023-2024 M/s Mushtaq & Co Chartered Accountants, being eligible, offer themselves for re-appointment.
- To consider any other business with the permission of the Chief.
By Order of the Board | |
Dated: October 06, 2023 | (MUHAMMAD SAEED) |
Company Secretary |
NOTE:
- The Share Transfer Books of the Company will remain closed from October 21st, 2023 to October 27th, 2023 (both days inclusive).
- A member entitled to attend and vote at this Meeting may appoint proxy. Proxies, in order to be effective must be received by the Company not less than 48 hours before the meeting.
- Shareholders who have deposited their shares into Central Depository Company are advised to bring their National Identity Card along with their CDC account number at the meeting venue.
- Shareholders are requested to notify the change in address, if any, immediately
03
SALMAN NOMAN ENTERPRISES LIMITED | Annual Report | 2 0 2 3 |
CHAIRMAN'S REVIEW REPORT
I welcome to you the 38th Annual General Meeting of your Company and present on behalf of the Board of Directors, the Audited statements of Accounts for the year ended 30th June, 2023 along with my review of the performance of your company.
Since February, 2018 the company has closed its operations and due to un-favorable business environment the base of conventional industry has weakened in general as was evident from consistent plunge of Pakistan's share of textile in global market.
The management of the company are very confident that all the matters under litigation with the banking companies in the court of laws will be resolved soon and are also making their efforts for the revival of the company.
Currently, the management of the company planning to give factory either on lease for production of textile products or on rent and also the management of the company will plan accordingly once the amicable settlement with banking companies will be done.
On my and on behalf of the board of directors of your company I take this opportunity of acknowledging the devoted and sincere services of employees of the company. I am also grateful our bankers, shareholders and the government organizations.
Muhammad Fiaz
Chairman
October 06, 2023
04
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Salman Noman Enterprises Ltd. published this content on 10 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 October 2023 05:35:10 UTC.