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Notes to Accounts of Angels Enterprises Ltd.

Mar 31, 2015

1. Right & restriction attached to equity shareholders:

The company has only one class of equity shares having a face value of Re. 1/- each (Previous Year of Rs. 10/- ea ch). Every shareholder is entitled for one vote per share. The dividend proposed by the Board of Director is subject to the approval of shareholders are entitled to to receive the remaining assets of the company, after distribution of all prefential amounts, in proportion of their shareholding.

2. B- NOTES TO THE ACCOUNTS

1) The previous year's figures have been reworked, regrouped, rearranged and reclassified wherever necessary.

2) Below are the name of the shareholders holding more than 5% of Shares of the company

3) All the investments made by the company are valued at Cost .

4) Managerial Remuneration: NIL

5) The inventories of the company are valued as per cost price and market price which ever is less.

6) Deffered tax arising on account of timing differeance and which are capable of reversal in one or more subsequent periods is recognised using the tax rates and tax laws that have been enacted or substantively enacted. Deffered tax assests are recognised unless there is virtual certainty with respect to the reversal of the same in future years.

7) All schedules annexed to and form integral part of the Balance She et and Profit & Loss Account.

8) Minimum Alternative Tax (MAT) is recognised as an asset only whe n and to the extent there is convicing evidence that the company will pay normal income tax during the specefied period. The Company reviews the same at each balance sheet date and writes down the carrying amount of MAT Credit Entilement to the extent there is no longer convicing evidence to the effect that company will pay normal Income Tax during the specified period.

9) Value of Import on CIF Basis Nil

10) Earnings in Foreign Exchange (FOB Value) Nil

11) Expenditure in Foreign Currency Nil

12) The Company has no employee to whom the provisions of section 217 (2A) of the Companies Act, 1956 are applicable.

3. The Company sub-divided the face value of equity shares from Rs. 10/- to Re. 1/- as per the provision of Companies Act 2013.


Mar 31, 2014

1) All the investments made by the company are valued at Cost .

2) Managerial Remuneration: -

3) The inventories of the company are valued as per cost price and market price whicheveris less.

4) Deffered tax arising on account of timing difference and which are capable of reversal in one or more subsequent periods is recognized using the tax rates and tax laws that have been enacted or substantively enacted. Deffered tax assets are recognized unless there is virtual certainty with respect to the reversal of the same in future years.

5) The revised Schedule VI as notified under the companies Act,1956, has become applicable to the company for the presentation of its financial statements for the year ending March 31,2013. The adaptation of the revised Schedule VI requirements has significantly modified the presentation and disclosures which have been complied with in these financial statements Previous year figures have been reclassified in accordance with current year requirements.

6) All schedules annexed to and from integral part of the Balance Sheet and Profit

7) Minimum Alternative Tax (MAT) is recognized as an asset only when and to the extent there is con vincing evidence that the company will pay normal income tax during the specified period. The Company reviews the same at each balance sheet date and writes down the carrying amount of MAT Credit Entitlement to the extent there is no longer convincing evidence to the effect that company will pay normal Income Tax during the specified period.


Mar 31, 2013

1) Managerial Remuneration: -

The inventories of the company are valued as per cost price and market price which ever is less.

2) Deffered tax arising on account of timing differeance and which are capable of reversal in one or more subsequent periods is recognised using the tax rates and tax laws that have been enacted or substantively enacted. Deffered tax assests are recognised unless there is virtual certainty with respect to the reversal of the same in future years.

3) The revised Schedule VI as notified under the companies Act,1956, has become applicable to the company for the presentation of its financial statements for the year ending March 31,2013. The adoptation of the revised Schedule VI requirements has significantly modified the presentation and disclosurs which have been complied with in these financial statements Previous year figures have been reclassified in accordance with current year requirements.

4) All schedules annexed to and form integral part of the Balance Sheet and Profit & Loss Account.

5) Minimum Alternative Tax (MAT) is recognised as an asset only when and to the extent there is convicing evidence that the company will pay normal income tax during the specefied period. The Company reviews the same at each balance sheet date and writes down the carrying amount of MAT Credit Entilement to the extent there is no longer convicing evidence to the effect that company will pay normal Income Tax during the specified period.

I hereby record my presence at the Annual General Meeting of the Company held on Monday, the 30th September, 2013 at 11.30 P.M .at 202A, Arunachal Building, Barakhamba Road, New Delhi - 110001

Name of the Shareholder / Proxy Present

Signature of the Shareholder / Proxy Present

Note: Shareholders /Proxy holder wishing to attend the meeting should bring the attendance slip to the meeting and hand over the same at the entrance duly signed. as my/our proxy to vote for me/us and on my /our behalf at the Annual General Meeting of the Company to be held on Monday, the 30th September, 2013 at 11.30 P.M .at 202A, Arunachal Building, Barakhamba Road, New Delhi - 110001or any adjournment thereof.

1 The proxy need not be a member of the Company

2 The proxy must be returned so as to reach the Registered Office of the Company not less than 48 hours before the time for holding the aforesaid meeting.


Mar 31, 2011

1. Provision for tax is based on the assessable profits of the company compute In accordance with the Income Tax Act, 1961.

2. In the opinion of the Board of Director all current assets, loans and advances have a value of realization in the ordinary course of business at least Equivalent of the amount of which they are stated unless otherwise and these are these are subject to confirmation.

3. As of March 31, 2011, the company had no outstanding dues to small scale Industrial undertakings.

4. Figures of the previous year have been regrouped or re-arranged wherever necessary.

 
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