October 03, 2020

Abdul Khaliq & Co.

Dear Sir,

Audit for the year ended June 30, 2020

This representation letter is provided in connection with your audit of the Statement of Financial
Position of Saljook Real Estate and Developers (Pvt.) Limited as on June 30, 2020, and the
related statement of profit or loss, statement of cash flows, comprehensive income and changes
in equity for the year then ended for the purpose of expressing an opinion as to whether these
financial statements give a true and fair view of the financial position of the company and of the
results of its operations and its cash flows in accordance with the approved accounting standards
as applicable in Pakistan and the requirements of the Companies Act, 2017.

We acknowledge our responsibility for the fair presentation of the financial statements in
conformity with approved accounting standards and the requirements of the Companies Act,
2017 and we approve the financial statements.

Certain representations in this letter are described as being limited to matters that are material.
We understand that items are considered material if they involve an omission or misstatement of
accounting information that could influence the economic decisions of users taken on the basis of
the financial statements. Materiality depends on the size of the item or error judged in the
particular circumstances of its omission or misstatement.

We have made appropriate inquiries of directors and officers of the Company with the relevant
knowledge and experience. Accordingly, we confirm, to the best of our knowledge and belief,
the following representations:
1. The financial statements referred to above are presented fairly, in all material respects, in
accordance with approved accounting standards as applicable in Pakistan and the
requirements of the Companies Act, 2017.

2. The accounting policies, which are material or critical in determining the results for the
year or state of affairs are set out in the accounts and are consistent with those adopted in
the preparation of the accounts for the previous accounting period.

3. We have made available to you all books of account and supporting documentation and all
minutes of meetings of Board of Directors, and summaries of actions of meetings held after
 period end for which minutes have not yet been prepared.

4. We confirm that all transactions including those with related parties entered during the year
have been approved at appropriate level according to materiality levels approved by the
Board of Directors.

5. There has been no known actual or possible non-compliance with laws and regulations that
could have a material effect on the financial statements in the event of non-compliance.

6. The financial statements have been prepared on going concern basis and nothing has come to
our attention that causes us to believe that there are no significant doubts about company’s
ability to continue as a going concern.

7. We have provided you with, unrestricted access to persons within the company from whom
you determine it necessary to obtain audit evidence.

8. We confirm that:
(a) We understand that the term "fraud" which includes misstatements resulting from
fraudulent financial reporting and misstatements resulting from misappropriation of
assets. Misstatements resulting from fraudulent financial reporting involve
intentional misstatements or omissions of amounts or disclosures in financial
statements to deceive financial statement users. Misstatements resulting from
misappropriation of assets involve the theft of an entity's assets, often accompanied
by false or misleading records or documents in order to conceal the fact that the
assets are missing.
(b) We acknowledge our responsibility for the implementation and operation of
accounting and internal control systems designed to prevent and detect fraud and
error.
(c) We have disclosed to you the results of our assessment of the risks that the financial
statements may be materially misstated as a result of fraud.
(d) We have disclosed to you all significant facts relating to any known frauds or
suspected frauds that may have affected the Company.

9. We confirm the completeness of the information provided to you regarding the

10. All Revenue transactions are final and there are no side agreements with customers or other
terms that allow for the return of merchandise, except for conditions covered by the usual
and customary warranties.

11. Receivables, Payables and Advances reported ,(not responded confirmations) in the
financial statements represent valid claims against services, goods or other charges
arising on or before the balance sheet date.
12. We have no plans or intentions that may materially alter the carrying value or classification of
assets and liabilities reflected in the financial statements. We believe that the carrying
amounts of all material assets will be recoverable.

13. We have no plans to abandon lines of product or other plans or intentions on behalf of the
Company that will result in any excess or obsolete inventory, and no inventory is stated at
an amount in excess of net realizable value.

14. We confirm that we have reviewed all financial assets and liabilities outstanding as of June
30, 2020 and have correctly classified them as either:
• Loans and receivables originated by the Company;
• Financial liabilities in accordance with the requirements of IFRS for SMEs of
Financial Instruments: Recognition and Measurement, and that they are appropriately
recorded at their fair value, amortized cost or cost based on their classification.
16. Presentation and disclosure of the fair value measurements of material assets, liabilities and
components of equity are in accordance with International Financial Reporting Standards.
The amounts disclosed represent our best estimate of fair value of assets and liabilities
required to be disclosed by these standards. The measurement methods and significant
assumptions used in determining fair value have been applied on a consistent basis, are
reasonable and they appropriately reflect our intent and ability to carry out specific courses
of action on behalf of the Company where relevant to the fair value measurements or
disclosures.

17. The Company has satisfactory title to all assets and there are no liens or encumbrances on
the company's assets except those disclosed in Financial Statements. Fixed assets are
depreciated at appropriate rates to reduce the assets to their estimated residual value at the
end of their expected useful lives.

18. The following have been properly recorded and when appropriate, adequately disclosed in
the financial statements:
• losses arising from sale and purchase commitments;
• assets pledged as collateral;
19. We have recorded or disclosed, as appropriate, all liabilities, both actual and contingent,
and have disclosed in Note 27 to the financial statements all guarantees that we have
given to third parties.

20. The estimated financial effect of pending or threatened litigation and claims Except as
disclosed, we are not aware of any additional claims that have been or are expected to be
received.

21. Except as disclosed in the financial statements or footnotes to the financial statements,
there are no:
• Other gain or loss contingencies or other liabilities that are required to be recognized
or disclosed in the financial statements, including liabilities or contingencies arising
from environmental matters resulting from illegal or possibly illegal acts, or
possible violations of human rights legislation;
• Material transactions that have not been properly recorded in the accounting records
 underlying the financial statements;
• The Company has complied with all aspects of contractual agreements that could
have a material effect on the financial statements in the event of non-compliance.
• There are no formal or informal compensating balance arrangements with any of our
cash and investment accounts.
• There are no significant matters that have arisen that would require a restatement of
the corresponding figures.
• We confirm that all the details /assessment orders etc. have been given to you. We
also confirm that adequate provisions have been made including for assessment
years where assessments have not yet been finalized.
• We have reviewed all estimates and basis used for recording transactions (including
staff benefits), and confirm that the same are reasonable, relevant and consistently
applied in assessing assets and liabilities
• There have been no events subsequent to the balance sheet date which require
adjustment of or disclosure in the financial statements or Notes thereto.
• Confirmations not responded to have valid claims against

Yours faithfully,

Chief Executive