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Notes to Accounts of Ankush Finstock Ltd.

Mar 31, 2015

1. Corporate Information :

The Company was registered as private limited company in the name of Ankush Finstock Private Limited on 04th August, 1993 and was converted in to Ankush Finstock Limited on 04th April,1995. The main business of the company is investment & trading in securities. Ankush Finstock Limited strives to strengthen the business base and search new areas for sustainable growth of company with the use of modern technology & management practices.

2. Basis of preparation :

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The Company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies ( Accounting Standards ) Rules, 2006, (as amended ) and the relevant provisions of the Companies Act, 2013. The financial statements have been prepared on an accrual basis and under the historical cost convention.

The accounting policies adopted in the preparation of financial statements are consistent with those of previous year, except for the change in accounting policy explained below:

NOTE - 3 - RELATED PARTY DISCLOSURE :

* Related Parties with whom transactions have taken place during the year :

Bharat M shah Sahil Shah

NOTE - 4 - DUES TO MICRO AND AND SMALL ENTERPRISES AS DEFINED UNDER THE MSMED ACT 2006

As informed to us, there are no dues to Micro & Small Enterprises as defined under the MSMED Act, 2006


Mar 31, 2014

1. Corporate Information :

The Company was registered as private limited company in the name of Ankush Finstock Pvt Limited on 04th August, 1993 and was converted in to Ankush Finstock Limited on 04th April, 1995. The main business of the company is investment & trading in securities. Ankush Finstock Limited strives to strengthen the business base and search new areas for sustainable growth of company with the use of modern technology & management practices.

2. Basis of preparation :

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The Company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies ( Accounting Standards ) Rules, 2006, (as amended ) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on an accrual basis and under the historical cost convention.

3. The company has only 1 class of shares referred to as Equity shares having face value of Rs. 10 /- Each holder of Equity share is entitled to 1 vote per share.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exists currently. The distribution will be in proportion to the number of shares held by the shareholders.

NOTE - 4 - DUES TO MICRO AND AND SMALL ENTERPRISES AS DEFINED UNDER THE MSMED ACT , 2006

As informed to us, there are no dues to Micro & Small Enterprises as defined under the MSMED Act, 2006


Mar 31, 2013

1. Corporate Information

The Company was registered as private limited company in the name of Ankush Finstock Private Limited on 04th August, 1993 and was converted in to Ankush Finstock Limited on 04th April, 1995. The main business of the company is investment & trading in securities. Ankush Finstock Limited strives to strengthen the business base and search new areas for sustainable growth of company with the use of modern technology & management practices.

2. Basis of preparation

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The Company has prepared these finan- cial statements to comply in all material respects with the accounting standards notified under the Companies ( Accounting Standards ) Rules, 2006, (as amended ) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on an accrual basis and under the historical cost convention.

The accounting policies adopted in the prepara- tion of financial statements are consistent with those of previous year, except for the change in accounting policy explained below:


Mar 31, 2012

1. Corporate Information

The Company was registered as private limited company in the name of Ankush Finstock Pvt. Ltd. on 4th August, 1993 and was converted into public limited and name changed to Ankush Finstock Limited on 4th April, 1995. The main business of the company is investment & trading in securities. Ankush Finstock Limited strives to strengthen the business base and search new areas for sustainable growth of company with the use of modern technology & management practices.

2. Basis of preparation

The financial statements of the company have Iven prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The Company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies ( Accounting Standards ) Rules, 2006, (as amended ) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on an accrual basis and under the historical cost convention.

The accounting policies adopted in the preparation of financial statements are consistent with those of previous year, except for the change in accounting policy explained below:


Mar 31, 2011

1. (a) Dues to small scale Industrial Undertaking is disclosed based on the information available with the company regarding the status of the suppliers as defined under the" Interest on Delayed Payments to small Scale & Ancillary Industrial Act, 1993."

(b) There are no dues to any party over Rs. 1 lakh outstanding for more than thirty days.

(c) Unpaid interest as on 31st March, 2011 Rs. Nil ( previous year Rs. Nil )

2. Contingent liabilities not provided for the year (Previous Year Rs.Nil)

3. The maximum amount due from the Directors is Rs.Nil (Previous year Rs. Nil )

4 Provision of clause 4D of part II of schedule VI of the Companies Act, 1956, regarding value of imports expenditure incurred in Foreign Currency, amount of remittance in Foreign currency on accounts of dividends, export earning etc, are not given as all information required in the Clauses are Nil. (Previous year Nil.)

5 In the opinion of the Board, the Current Assets, Loans and Advances although unsecured considered good have the value at which they are stated in the Balance Sheet if realized in the ordinary course of business.

6. Figures in the Balance Sheet have been regrouped and rearranged wherever necessary.

7. Other particulars required to be disclosed as per the provision of paragraph 3 & 4 of part II of Schedule VI of the Companies Act 1956 are not applicable to the company for the current year.

8. For the Current Year on review, as required by the Accounting Standard 28, Impairment of Fixed Assets, the management is of the opinion that no impairment or reversal of loss is required.

9. The statement of Significant Accounting Policies and the Notes numbered 2 to 14 above form an integral part of the accounts for the year ended 31st March 2011


Mar 31, 2010

1. (a) Dues to small scale Industrial Undertaking is disclosed based on the information available with the company regarding the status of the suppliers as defined under the " Interest on Delayed Payments to small Scale & Ancillary Industrial Act, 1993."

(b) There are no dues to any party over Rs. 1 lakh outstanding for more than thirty days.

(c) Unpaid interest as on 31st March, 2010 Rs. Nil ( previous year Rs. Nil )

2. Contingent liabilities not provided for the year (Previous Year Rs.Nil)

3. The maximum amount due from the Directors is Rs.Nil (Previous year Rs. Nil )

4. In view of the loss the provision for taxation is not made.

5 Provision of clause 4D of part II of schedule VI of the Companies Act, 1956, regarding value of imports expenditure incurred in Foreign Currency, amount of remittance in Foreign currency on accounts of dividends, export earning etc, are not given as all information required in the Clauses are Nil. (Previous year Nil.)

6. In the opinion of the Board, the Current Assets, Loans and Advances although unsecured considered good have the value at which they are stated in the Balance Sheet if realized in the ordinary course of business.

7. Figures in the Balance Sheet have been regrouped and rearranged wherever necessary.

8. Other particulars required to be disclosed as per the provision of paragraph 3 & 4 of part II of Schedule VI of the Companies Act 1956 are not applicable to the company for the current year

9. For the Current Year on review, as required by the Accounting Standard 28, Impairment of Fixed Assets, the management is of the opinion that no impairment or reversal of loss is required

10. Earning Per Share

The earnings considered in ascertaining the Companys EPS comprises the net profit/(loss) after tax (and includes the post tax effect of any extra ordinary items) attributable to equity shareholder. The number of shares used in computing Basic EPS is the weighted average number of shares outstanding during the year

11. The statement of Significant Accounting Policies and the Notes numbered 2 to 14 above form an integral part of the accounts for the year ended 31st March 2010

 
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