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Notes to Accounts of Aayush Food & Herbs Ltd.

Mar 31, 2015

I. Related Party Disclosure:

In accordance with the requirements of Accounting Standards (AS) - 18 on Related Party Disclosures, the names of the related parties where control exists and/or with whom transactions have taken place during the year and descriptions of relationships, as identified and certified by the management, are:

I. Key Management Personnel

- Mr. ASHISH MITTAL (Managing Director)

- Mr. SACHIN GOYAL (Chief Financial Officer)

- Ms. RUCHI AGGARWAL (Company Secretary)

II. Others

- Mr. SUNIL MITTAL (Director)

- Ms. NEENA MITTAL (Director)

Disclosure of transactions between the Company and Related Parties during the year in the ordinary course of business and status of outstanding balances at year end:

I. Key Managerial Personnel

ii. In the opinion of the Board of Directors and to the best of their knowledge and belief the realizable value of Current Assets, Loans and Advances in ordinary course of business is not less than the value stated in the Balance Sheet.


Mar 31, 2014

1. The SSI status of the creditors is not known to the company; hence the information is not given.

2. Sundry Creditors, Sundry Debtors, Loans & Advances and Unsecured Loans have been taken at their book value subject to confirmation and reconciliation.

3. During the year ended 31st March 2012, the revised schedule VI notified under the Companies Act 1956, has become applicable to the company, for preparation and presentation of its financial statements. The adoption of revised Schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However, is has significant impact on presentation and disclosures made in the financial statements. The company has also reclassified the previous year figures in accordance with the requirements applicable in the current year


Mar 31, 2013

1. The Financial Statements of the Company have been prepared on a going concern basis as the management is confident about the continuity of the business operations.

2. Consumption of consumables and raw material have been arrived by adding purchases to Opening Stock and deducted closing stock there from.

3. Payments to Auditors-

Auditors Remuneration 2012-2013 2011-2012

Audit Fees 25281/- 20000/-

Total 25281/- | 20000/-

4. Loans and Advances are considered good in respect of which company does not hold any security other than the person at guarantee of persons.

5. No provision for leave encashment has been made in view of accounting policy No 8. The impact of the same on Profit & Loss is not determined.

6. Related Party disclosure

(A) Related Parties and their Relationship

(I) Key Management Personnel

1. Shri Suresh Chandra Joshi

2. Shri Devi Prasad


Mar 31, 2012

1. The Financial Statements of the Company have been prepared on a going concern basis as the Management is confident about the continuity of the business operations.

2. Balances appearing under loans and sundry creditors are subject to confirmation.

3. Balances of sundry debtors, advances recoverable are subject to confirmation from the respective parties. In the opinion of the management the same are good and recoverable.

4. There is no material prior period items included in Profit & Loss Account required to be disclosed as per Accounting Standard-5 issued by the Institute of Chartered Accountants of India (ICAI).

5. As more than 90% of revenue for the company comes from a single segment, segment reporting as required under Accounting Standard-17, issued by the Institute of Chartered Accountants of India (1CA1) is not applicable.

6. As per AS-22 "Accounting for Taxes on Income", the Company has determined Deferred Tax Assets of Rs. 589/- (Previous Year - Rs.3,979/-) as on March 31, 2012, on account of difference in depreciation.

7. Fixed Assets possessed by the company are treated as 'Corporate Assets' and not 'Cash Generating Unit1 as defined by Accounting Standard-28 issued by the Institute of Chartered Accountants of India (1CAT) - "Impairment of Assets". As on March 31, 2012, there were no events or changes in circumstances which indicate any impairment in the assets.

8. As per Accounting Standard-18: Related Party Disclosures, issued by the Institute of Chartered Accountants of India, the related parties of the Company as on 31.03.2012 are as follows: -:

a) Holding/Subsidiary Company- NIL,

b) Associates/Joint Ventures- NIL

c) Key Management Personnel-

Shri Sunil Kumar Chaturvedi

Shri Suresh Chand Joshi

9. Previous year figures have been re-grouped/ re-arranged wherever necessary to conform to the current year's presentation,


Mar 31, 2011

1. The Financial Statements of the Company have been prepared on a going concern basis as the Management is confident about the continuity of the business operations.

2 Balances appearing under sundry creditors are subject to confirmation.

3. Balances of sundry debtors, advances recoverable are subject to confirmation from the respective parties. In the opinion of the management the same are good and recoverable.

4. There is no material prior period items included in Profit & Loss Account required to be disclosed as per Accounting. Standard-5 issued by the Institute of Chartered Accountants of India (ICAJ).

5. As more than 90% of revenue for the company comes from a single segment, segment reporting as required under Accounting Standard-17. issued by the Institute of Chartered Accountants of India (1CAI) fs not applicable.

6. As per AS-22 "Accounting for Taxes on Income', the Company has determined Deferred Tax Assets of Rs 3,979/- (Previous Year - Rs7,745/-) as on March 31, 2011, on account of difference in depreciation

7. Fixed Assets possessed by the company are treated as 'Corporate Assets' and not Cash Generating Unit' as defined by Accounting Standard-28 Issued by the Institute of Chartered Accountants of India
8. As per Accounting Standard-16 Related Party Disclosures, issued by the Institute of Chartered Accountants of India, the related parties of the Company as on 31.03.2011 are as follows:

a) Holding/ Subsidiary Company- NIL

b) Associates/ Joint Ventures- NIL

c) Key Management Personate-

- Shri Sunil Kumar Chaturvedi

- Shri Sanjeev Kumar

d) Companies Controlled by key management personnel with whom transactions s have taken place during the year

- M/s Ma Kamakhya Herbals Limited

9. Previous year figures have been re-group re-arranged wherever necessary to conform to the current year's presentation

 
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