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Notes to Accounts of 52 Weeks Entertainment Ltd.

Mar 31, 2015

1) In the opinion of the management, the current assets, loans and advances have the values on realization in the ordinary course of business at least equal to the amounts at which they are stated in the balance sheet except the trade receivables and loans and advances which falls under management's policy for bad and doubtful debts as taken in the previous years.

2) All debit and credit balances are subject to confirmation and reconciliation.

3) There are no dues to Micro, Small & Medium Enterprises as at Balance Sheet date and no interest has been paid to any such parties. This is based on the information on such parties having been identified on the basis of information available with the Company and relied upon by the auditors.

4) Earnings Per Share (EPS) The following reflects the profit and share data used in the basic and diluted EPS Computations:

5) As stated in earlier years annual reports, the Farm and Hatchery land together with the structures and ancillary assets/material stocks on the land including moveable assets related to farm division which was mortgaged with the consortium banks, was disposed off by the banks in the financial year 2005-06 and 2006-07 respectively by holding auction sale under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Besides the sale of above moveable and immoveable assets, banks also auctioned the agricultural land kept as collateral security by one of the promoters with the lending banks at the time of disbursement of loan. Since there was neither any feedback nor any intimation by the banks regarding the ratio in which they distributed amongst themselves the said realized amount, it is apportioned between the consortium banks in proportion to the various loans outstanding and provided in the books till the date of recalling of advances by individual banks. On sale of said properties including moveable assets during the year by the banks under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the amount against said facilities and loans has been categorized as unsecured loans.

6) Cash Credit, Packing Credit and demand working capital loan from banks were secured by hypothecation of stock and book debts and term loan from banks were secured by pari-passu charge on all the immoveable properties of the company and hypothecation of moveable assets. On sale of said properties including moveable assets by the banks under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the amount against said facilities and loans has been categorized as unsecured loans of the accounts.

7) In Compliance with Accounting Standard - 22 "Accounting for Taxes on Income" issued by The Institute of Chartered Accountants of India, the deferred tax assets/liabilities (net) accruing during the current year Rs. 9,843/- (Previous period Rs. 2,378/-) has been shown in the statement of Profit & Loss. Deferred Tax Assets/ Liability are calculated at the end of Financial Year as per Companies Act, 2013.

8) The Company operates in one segment and others hence no separate disclosure of segment-wise information has been made as per Accounting Standards (AS-17) Segment Reporting issued by the Institute of Chartered Accountants of India.

9) Balances of Sundry Debtors, Sundry Creditors and Loans and Advances are subject to confirmation and reconciliation. None of the confirmations were in the hands of the Company.

The accompanying notes are an integral part of the financial statements


Mar 31, 2014

1) In the opinion of the management, the current assets, loans and advances have the values on realization in the ordinary course of business at least equal to the amounts at which they are stated in the balance sheet except the trade receivables and loans and advances which falls under management''s policy for bad and doubtful debts as taken in the previous years

31st March, 2014 31st March, 2013 (Rs.) (Rs.)

2) Contingent Liabilities and commitments (to the extent not provided for)

Contingent Liabilities

(a) Claims against the company not acknowledged as debt NIL NIL

(b) Legal suits and claims filed against the company NIL NIL

3) Debit and Credit balances are subject to confirmation and reconciliation.

4) There are no dues to Micro, Small & Medium Enterprises as at Balance Sheet date and no interest has been paid to any such parties. This is based on the information on such parties having been identified on the basis of information available with the Company and relied upon by the auditors.

5) As stated in earlier years annual reports, the Farm and Hatchery land together with the structures and ancillary assets/material stocks on the land including moveable assets related to farm division which was mortgaged with the consortium banks, was disposed off by the banks in the financial year 2005-06 and 2006- 07 respectively by holding auction sale under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Besides the sale of above moveable and immoveable assets, banks also auctioned the agricultural land kept as collateral security by one of the promoters with the lending banks at the time of disbursement of loan. Since there was neither any feedback nor any intimation by the banks regarding the ratio in which they distributed amongst themselves the said realized amount, it is apportioned between the consortium banks in proportion to the various loans outstanding and provided in the books till the date of recalling of advances by individual banks. On sale of said properties including moveable assets during the year by the banks under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the amount against said facilities and loans has been categorized as unsecured loans.

6) Cash Credit, Packing Credit and demand working capital loan from banks were secured by hypothecation of stock and book debts and term loan from banks were secured by pari-passu charge on all the immoveable properties of the company and hypothecation of moveable assets. On sale of said properties including moveable assets by the banks under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the amount against said facilities and loans has been categorized as unsecured loans of the accounts.

7) Inter-Corporate deposits was borrowed by the company for which promoter had pledged their shares.

8) In Compliance with Accounting Standard - 22 "Accounting for taxes on income" issued by The Institute of Chartered Accountants of India, the deferred tax assets/liabilities (net) accruing during the current year Rs. 2,378/- (Previous period Rs. 1,302) has been shown in the statement of Profit & Loss. Deferred Tax Assets are calculated at the end of Financial Year as per Companies Act, 1956.

9) In view of the revision to the Schedule VI as per notification issued by the Central Government, the financial statement for the year ended 31st March, 2013 have been prepared as per the requirement of the Revised Schedule VI to the Companies Act, 1956. The previous years figures have been accordingly regrouped/classified to confirm to the year''s classification.


Mar 31, 2013

1) In the opinion of the management, the current assets, loans and advances have the values on realization in the ordinary course of business at least equal to the amounts at which they are stated in the balance sheet except the trade receivables and loans and advances which falls under management''s policy for bad and doubtful debts as taken in the previous years.

31st March, 2013 31st March, 2012 (Rs.) (Rs.)

2) Contingent Liabilities and commitments (to the extent not provided for) Contingent Liabilities

(a) Claims against the company not acknowledged as debt NIL NIL

(b) Legal suits and claims filed against the company NIL NIL

3) Debit and Credit balances are subject to confirmation and reconciliation.

4) There are no dues to Micro, Small & Medium Enterprises as at Balance Sheet date and no interest has been paid to any such parties. This is based on the information on such parties having been identified on the basis of information available with the Company and relied upon by the auditors.

5) As stated in earlier years annual reports, the Farm and Hatchery land together with the structures and ancillary assets/material stocks on the land including moveable assets related to farm division which was mortgaged with the consortium banks, was disposed off by the banks in the financial year 2005-06 and 2006-07 respectively by holding auction sale under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Besides the sale of above moveable and immoveable assets, banks also auctioned the agricultural land kept as collateral security by one of the promoters with the lending banks at the time of disbursement of loan. Since there was neither any feedback nor any intimation by the banks regarding the ratio in which they distributed amongst themselves the said realized amount, it is apportioned between the consortium banks in proportion to the various loans outstanding and provided in the books till the date of recalling of advances by individual banks. On sale of said properties including moveable assets during the year by the banks under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the amount against said facilities and loans has been categorized as unsecured loans.

6) Cash Credit, Packing Credit and demand working capital loan from banks were secured by hypothecation of stock and book debts and term loan from banks were secured by pari-passu charge on all the immoveable properties of the company and hypothecation of moveable assets. On sale of said properties including moveable assets by the banks under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the amount against said facilities and loans has been categorized as unsecured loans of the accounts.

7) Inter-Corporate deposits was borrowed by the company for which promoter had pledged their shares.

8) In Compliance with Accounting Standard - 22 "Accounting for taxes on income" issued by The Institute of Chartered Accountants of India, the deferred tax assets/liabilities (net) accruing during the current year'' 1302/- (Previous period * Nil) has been shown in the statement of Profit & Loss. Deferred Tax Assets are calculated at the end of Financial Year as per Companies Act, 1956.

9) Related Parties Disclosures

a) List of related party with whom transactions have taken place and relationships

1) Mr. Shantanu Sheorey - Director

10) The Company operates in one segment and others hence no separate disclosure of segment-wise information has been made as per Accounting Standards (AS-17) Segment Reporting issued by the Institute of Chartered Accountants of India.

11) In view of the revision to the Schedule VI as per notification issued by the Central Government, the financial statement for the year ended 31 st March, 2013 have been prepared as per the requirement of the Revised Schedule VI to the Companies Act, 1956. The previous years figures have been accordingly regrouped/classified to confirm to the year''s classification.

The accompanying notes are an integral pan of the financial statements


Mar 31, 2012

1. LONG TERM BORROWINGS

a) As stated in earlier years annual reports, the Farm and Hatchery land together with the structures and ancillary assets/material stocks on the land including moveable assets related to farm division, which was mortgaged with the consortium banks, was disposed off by the banks in the financial year 2005-06 and 2006-07 respectively by holding auction sale under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Besides the sale of above moveable and immoveable assets, banks also auctioned the agricultural land kept as collateral security by one of the promoters with the lending banks at the time of disbursement of loan. Since there was neither any feedback nor any intimation by the banks regarding the ratio in which they distributed amongst themselves the said realised amount, it is apportioned between the consortium banks in proportion to the various loans outstanding and provided in the books till the date of recalling of advances by individual banks. On sale of said properties including moveable assets during the year by the banks under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the amount against said facilities and loans has been catogarised as unsecured loan

2. SHORT TERM BORROWINGS

a) Cash Credit, Packing Credit and Demand working capital loan from banks were secured by hypothecation of stocks and book debts and Term loan from banks were secured by pari- passu charge on all the immoveable properties of the Company and hypothecation of moveable assets. On sale of said properties including moveable assets by the banks under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the amount against said facilities and loans has been catogarised as unsecured loan in the accounts.

b) Inter-corporate deposit was borrowed by the company for which promoters had pledged their shares.

3. The office of the Company Secretary has been vacant since May'1997, in the circumstances; authentication by Company Secretary does not appear in the Accounts.

4. As per the information available, there are no outstanding dues to Small Scale Industrial Undertaking.

Note:

As consortium banks disposed off the production units and the related properties/ancillary assets, no disclosure is made under above heads.

5. As there are no operational activities carried by the Company, Accounting Standard 17 - "Segment Reporting" issued by the Institute of Chartered Accountants of India, does not apply.

6. RELATED PARTY DISCLOSURES

a) List of related party with whom transactions have taken place and relationships

1. Mr. Shantanu Sheorey - Director

7. Unsecured loans, Creditors balances, advances are subject to confirmation from the parties.

8. The financial statements for the year ended 31st March 2011 had been prepared as per the then applicable, pre-revised Schedule VI to the Companies Act 1956. Consequent to the notifications of Revised Schedule VI under the Companies Act, 1956, the financial statements for the year ended 31st March, 2012 are prepared as per Revised Schedule VI. Accordingly, the previous year figures have also been reclassified to conform to this year's classification. This has significantly impacted the presentations and disclosures made in the financial statements, particularly the presentation of balance sheet.


Mar 31, 2010

1) Contingent Liabilities not provided for in respect of

As at As at 31st March 2010 31st March 2009

i) Disputed demands from MESB towards electricity Charges 5,27,122.11 5,27,122,11

ii) Damages u/s 14B E EPE on delayed payment of provident fund dues 1,28,528/- 1,28,528/-

iii) Amount of interest liability penalty if any on delayed non payments of certain creditors loans statutory dues and penal interest liquidated damages on secured unsecured borrowings. Amount presently Unascertainable

2. Unsecured loans sundry debtors, creditors balances loans and deposits are subject to confirmation form the parties.

3. Interest on terms loan and other facilities banks/Institution is provident up to the date of recalling of advances by them. Due to paucity of funds and operation being suspended there is a delay in payment of interest on other advances short term loans and hence interest actually paid is accounted.

4. As stated in earlier years annual reports. the farm and Hatchery land together with the structure and ancillary assets material stocks on the land including moveable assets related to farm division, which was mortgaged with the consortium banks, was disposed off by the banks in the financial year 2005-06 and 2006-07 respectively by holding auction sale under the securities and reconstruction of financial assets and enforcement of security interest Act, 2002. Besides the sale of above moveable and immoveable assets, banks also auctioned the agricultural land kept as collateral security by one of the promoters with the lending banks at the time of disbursement of loan. Since there was neither any feedback nor any intimation by the banks regarding the ratio in which they distributed amongst themselves the said realised amount, it is appointment between the consortium banks in proportion to the various loans outstanding and provided in the books till the date of recalling of advances by individual banks.

5. Cash credit packing credit and demand working capital loan from banks were secured by hypothecation of stocks and books debts and Term loan from banks were secured by pair passu charge on all the immoveable. Properties of the company at Nandgaon and mired and hypothecation of moveable assets at those locations On scale of said properties including moveable assets during the year by the banks under the securtisation and Reconstruction of Financial Assets and Enforcements of Security interest Act, 2002 the amount against said facilities and loans has been shown as unsecured loan in the accounts.

6. Fixed assets includes Pumb Motors costing Rs. 2.38 lakhs and stocks representing PVC pipes confiscated by group gram panchayet- Nandgaon against non-payment of property Tax.

7. No provisions for income Tax has been made for the financial year 2008-2009 in view of set off available in respect of unabsorbed loss / depreciation under the income Tax

8. The office of the company secretary has been vacant since may 1997, in the circumstance authencation by company secretary does not appear in the account.

9. As per the information available there are no outstanding dues to small scale industrial undertaking

10. As there are no operational activities carried by the company accounting standard 17 segment reporting issued by the institute of chartered accounts of India does not apply.

 
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