Page 139 - Pakistan Oilfields Limited - Annual Report 2021

NOTES TO AND FORMING

PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED JUNE 30, 2021

2021 2020
Rupees ('000)

6. SHARE CAPITAL

Authorized capital

500,000,000 (2020: 500,000,000) ordinary shares of Rs 10 each 5,000,000 5,000,000
Issued, subscribed and paid up capital

Shares issued for cash
20,200,000 (2020: 20,200,000) ordinary shares 202,000 202,000

Shares issued as fully paid bonus shares
263,655,104 (2020: 263,655,104) ordinary shares 2,636,551 2,636,551

283,855,104 (2020: 283,855,104) ordinary shares of Rs 10 each 2,838,551 2,838,551
6.1 The Company is a subsidiary of The Attock Oil Company Limited which held 149,794,518 (2020:
149,794,518) ordinary shares at the year end.
2021 2020
Rupees ('000)

7. REVENUE RESERVES

Insurance reserve - note 7.1 200,000 200,000
Investment reserve - note 7.2 1,557,794 1,557,794
Unappropriated profit 34,765,718 35,670,525
36,523,512 37,428,319
7.1 The Company has set aside an insurance reserve for self insurance of assets which have not been
insured and for deductibles against insurance claims.

7.2 The Company has set aside gain on sale of investments as investment reserve to meet any future
losses/ impairment on investments.
2021 2020
Rupees ('000)

8. LONG TERM DEPOSITS

Security deposits from distributors for cylinders/ equipment 823,238 807,977
Security deposits from distributors and others 50,174 53,152
873,412 861,129

8.1 Amount received as security deposit is kept in a separate bank account and utilized/utilizable by the
Company in accordance with the related agreements with customers.

ANNUAL REPORT 2021 137