Home  »  Company  »  Alan Scott Industrie  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Alan Scott Industries Ltd.

Mar 31, 2015

1.1 Micro, Small & Medium Enterprises disclosure

The company has not received any intimation from 'suppliers' regarding their status under the Micro, Small and Medium Enter- prises Development Act, 2006 and hence disclosure requirement in this regards as per Revised Schedule VI of the Companies Act, 1956

As per records of the company, including its register of shareholders / members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial owenership of shares.

2.1 Rights, Preferences and restrictions attached to Equity shares

The company has one class of equity shares having a par value of Rs, 10/- per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

3.1 Reconciliation of the shares outstanding at the beginning and at the end of the reporting year


Mar 31, 2014

1) Rights. Preferences and restrictions attached to Equity shares The company has one class of equity shares having a par value of Rs 10/- per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

2) No provision has been made in the books on account of gratuity or Leave benefits as on 31st March, 2014 as required by Accounting Standard 15 ''Employee Benefits''.

3) Amount due from Director at the year-end is Rs Nil/- (Previous Year Rs 40,233)


Mar 31, 2013

1. Rights, Preferences and restrictions attached to Equity shares

The company has one class of equity shares having a par value of'' 10/- per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

2. Micro, Small & Medium Enterprises disclosure

The company has not received any intimation from ''suppliers'' regarding their status under the Micro, Small and Medium Enter- prises Development Act, 2006 and hence disclosure requirement in this regards as per Revised Schedule VI of the Companies Act, 1956

1) Total outstanding dues to small scale Industrial undertakings as on 31st March, 2013 Rs NIL (Previous Year Rs.Nil).

2) Contingent Liabilities 2012-2013 2011-2012

Counter guarantees in respect Rs 5,000/- Rs.5,000/- of bank Guarantees issued

3) Balance of Creditors, Unsecured Loans and Advances to body corporate are subject to confirmation and Reconciliation.

4) In the opinion of the Management, the Current Assets, Loans and Advances are valued at the amount which can be realized in the ordinary course of business.

5) Balance with brokers is subject to confirmations and reconciliations.

6) The value of closing stock of shares is as certified by the Management.

7) Details of Research & Development Costs: Expenditure on Research and Development activities as certified by the Management is Rs. Nil. (Including Capital Expenditure Rs. Nil)

8) No Provision of income tax has been made in the accounts, in view of the brought forward losses of the earlier years. Further, no Minimum Alternate Tax (MAT) under the provisions of Section 115JB of the Income Tax Act, 1961 is payable in view of unabsorbed book depreciation of earlier years.

9) In Accordance with the Accounting Standard 22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the Company has not accounted for deferred tax asset during the period as in the opinion of-the Management there is no reasonable certainty of any future taxable profits arising.

10) Previous year''s figures have been regrouped /reclassified wherever necessary to with current year''s figures.

11) Related party disclosure

a) Relationship:

Key Managerial Persons and their relatives

i) Soketu Parikh - Director

ii) Asmita Parikh - Director

ii) Jay Parikh - Realtive of Director

Entity under common control i) Concord Capital Pvt. Ltd.

12) Amount due from Director at the year-end is Rs 40,233/-


Mar 31, 2012

1) Total outstanding dues to small scale Industrial undertakings as on 31st March, 2012 Rs NIL (Previous Year Rs.Nil).

2) Contingent Liabilities 2011-2012 2010-2011

Counter guarantees in respect Rs 5,000/- Rs.5,000/- of bank Guarantees issued

3) Balance of Creditors, Unsecured Loans and Advances to body corporate are subject to confirmation and Reconciliation.

4) In the opinion of the Management, the Current Assets, Loans and Advances are valued at the amount which can be realized in the ordinary course of business.

5) Details of Research & Development Costs: Expenditure on Research and Development activities as certified by the Management is Rs. Nil.(Including Capital Expenditure Rs. Nil)

6) No Provision of income tax has been made in the accounts, in view of loss.

7) In Accordance with the Accounting Standard 22 “Accounting for Taxes on Income” issued by the Institute of Chartered Accountants of India, the Company has not accounted for deferred tax asset during the period as in the opinion of the Management there is no reasonable certainty of any future taxable profits arising.

8) Previous year’s figures have been regrouped /reclassified wherever necessary to with current year''s figures.

9) Related party disclosure

a) Relationship:

Key Managerial Persons and their relatives

i) Soketu J Parikh

ii) Jay Parikh

Enterprises in which relatives of directors are interested

i) Concord Capital Pvt. Ltd.

10) SEGMENT REPORTING

During the year the company is operating only in one segment i.e. share trading activity. Therefore, segment reporting as specified by Accounting Standard 17 on Segment Reporting issued by the Institute of Chartered Accountants of India is not given.

11) 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 financial statements; hence financial statements have been prepared as per the notified Schedule VI. This has significantly impacted the disclosure and presentation made in the Financial Statements. Previous years figures have been regrouped & reclassified wherever necessary to correspond with the current year’s classification/disclosure.

 
Subscribe now to get personal finance updates in your inbox!