Mar 31, 2014
Note 1 Employee benefits expense
The Salaries and wages include Salaries, wages, bonus, compensated
absences and all other amounts payable to employees in respect of
services rendered as per their employment terms under a contract of
service / employment.
Employee deem to include directors, in full time or part time
employment of the Company, but exclude directors who are not under a
contract of employment with the Company.
Contribution to provident fund and other funds include contributions to
other funds like gratuity fund, superannuation fund, etc. pertaining to
employees. Contributions to ESIC, Labour Welfare Fund and other such
funds where the benefit an employee derives is not directly linked to
the contributions made on his behalf are grouped as part of Staff
welfare expenses.
Staff welfare expenses include contribution / accrual for
post-employment medical benefits, Labour Welfare, etc.
2. Contingent liabilities and commitments (to the extent not provided
for)
(I) Contingent liabilities As at As at
31 March, 2014 31 March, 2013
(a) Claims against the Company
not acknowledged as debt
(give details) - -
(b) Bank Guarantees against 100%
guarantee 441,741.00
(c) Other money for which the
Company is contingently liable - -
(give details)
Mar 31, 2013
Note 1 Employee benefits expense
Salaries and wages include: Salaries, wages, bonus, compensated
absences and all other amounts payable to employees in respect of
services rendered as per their employment terms under a contract of
service / employment. Employee deem to include directors, in full time
or part time employment of the Company, but exclude directors who are
not under a contract of employment with the Company.
Contribution to provident fund and other funds includes contributions
to other funds like gratuity fund, superannuation fund, etc. pertaining
to employees. Contributions to ESIC, Labour Welfare Fund and other such
funds where the benefit an employee derives is not directly linked to
the contributions made on his behalf are grouped as part of Staff
welfare expenses.
** Staff welfare expenses include contribution / accrual for
post-employment medical benefits, ESIC, Labour Welfare Fund, etc.
As at 31 As at 31
March, 2013 March, 2012
2. Contingent liabilities and commitments
(to the extent not provided for)
(i) Contingent liabilities
(a) Claims against the Company not
acknowledged as debt (give details) - -
(b) Bank Guarantees against 100%
guarantee 441,741.00 441,741.00
(c) Other money for which the Company
is contingently liable (give details)
Mar 31, 2012
Note 1 Employee benefits expense
Salaries and wages include: Salaries, wages, bonus, compensated
absences and all other amounts payable t< employees in respect of
services rendered as per their employment terms under a contract of
service/employment.
Employee deem to include directors, in full time or part time
employment of the Company, but exclude directors who are not under a
contract of employment with the Company.
Contribution to provident fund and other funds includes contributions
to other funds like gratuity fund, superannuation fund, etc. pertaining
to employees. Contributions to ESIC, Labour Welfare Fund and other such
funds where the benefit tin employee derives is not directly linked to
the contributions made on his behalf are grouped as part of Staff
welfare expenses.
** Staff welfare expenses include contribution / accrual for
post-employment medical benefits, KSIC, Labour Welfare Fund, etc.
Note 2 Other expenses
Payments for
- taxation matters include tax audit fees, certifications under the
Income Tax Act, tax advisory services, etc.
- company law matters include certifications, company law advisory
services.
Note 3 Additional information to the financial statements
Note Particulars As at 31st As at 31st
March, 2012 March, 2011
Contingent liabilities and
commitments (to the extent not
provided for)
(i) Contingent liabilities
(a) Claims against the Company
not acknowledged as debt - -
(b) Bank Guarantees against
100% guarantee 441,741.00 441,741.00
(c) Other money for which the
Company is contingently
liable - -
(ii) Value of imports calculated on
CIF basis @ :
Raw materials 48,479.00 155,043.00
Components - -
Spare parts - -
Total Components and spare
parts - -
Capital good 113,796.00 -
The Revised Schedule VI does not require presentation of a
reconciliation explaining the impact of the reclassification of the
previous year figures in the financial statements. However, the company
may consider giving an appropriate reconciliation in the Notes as an
additional information as it would help in clarifying the impact of the
reclassification of the previous year figures.
Mar 31, 2010
1. Cash Flow Statement (AS-3)
The Cash flow statement for the year under audit hasbeen set out in
this report separately.
2. Revenue Recognition (AS-9)
(i) All Income and Expenditure are accounted for on accrual basis
except otherwise stated in consonance with the generally accepted
accounting principles.
(ii) The Company has no system for acturial valuation of gratuity and
not provided for accrued liabilities as on 31st March, 2010 in respect
of future payment of gratuity to employees.
3. Foreign Currency Transactions (AS-11)
Foreign Currency transactions are recorded at the exchange rates
prevailing on the respective date of transactions. All other foreign
currency transactions are restated at the rates ruling at the period
end and all exchange losses/gains arising therefrom are accounted for
in the Profit and Loss Account.
4. Contingent Liabilities
Contingent Liabilities are not provided for and are disclosed by way of
notes below :
i) Bank Guarantee outstanding Rs. 6.38 lacs (Rs. 5.00 lacs as on
31.03.2009)
ii) Figure for the previous years were regrouped/rearranged wherever
necessary.