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Notes to Accounts of Anukaran Commercial Enterprises Ltd.

Mar 31, 2014

NOTE 1:

CORPORATE INFORMATION

Anukaran Commercial Enterprises Ltd was engaged in the business of dealing in chemicals in India. It also trades in shares, securities, and debentures. The company was incorporated in the year 1985. The company was formerly known as Anukaran Commercial Enterprises Ltd and changed its name to ACL Projects Ltd. in May 2010. The company again changed its name to Anukaran Commercial Enterprises Ltd in the year 2011. The Company is now engaged in the business of trading in fabrics and commodities.

NOTE 2:

BASIS OF PREPARATION

The financial statements have been prepared in accordance with the Generally Accepted Accounting Principles in India (GAAP) under the historical cost convention on an accrual basis and comply in all material respects with the mandatory Accounting Standards prescribed in the Companies (Accounting Standards) Rules, 2006 issued by the Central Government in consultation with the national Advisory Committee on Accounting Standards.

Previous Year''s figure have been regrouped and rearranged, wherever necessary to conform to the current period''s presentation.

The accounting policies adopted in preparation of financial statements are consistent with those of previous year as explained below:


Mar 31, 2013

NOTE 1:

CORPORATE INFORMATION

Anukaran Commercial Enterprises Ltd was engaged in the business of dealing in chemicals in India. It also trades in shares, securities, and debentures. The company was incorporated in the year 1985. The company was formerly known as Anukaran Commercial Enterprises Ltd and changed its name to ACL Projects Ltd. in May 2010. The company again changed its name to Anukaran Commercial Enterprises Ltd in the year 2011. The Company is now engaged in the business of trading in fabrics and commodities.

NOTE 2: BASIS OF PREPARATION

The financial statements have been prepared in accordance with the Generally Accepted Accounting Principles in India (GAAP) under the historical cost convention on an accrual basis and comply in all material respects with the mandatory Accounting Standards prescribed in the Companies (Accounting Standards) Rules, 2006 issued by the Central Government in consultation with the national Advisory Committee on Accounting Standards.

Previous Year''s figure have been regrouped and rearranged, wherever necessary to conform to the current period''s presentation.

The accounting policies adopted in preparation of financial statements are consistent with those of previous year as explained below:


Mar 31, 2012

1. Basis of Preparation:

The financial statements have been prepared in accordance with the Generally Accepted Accounting Principles in India (GAAP) under the historical cost convention on an accrual basis and comply in all material respects with the mandatory Accounting Standards prescribed in the Companies (Accounting Standards) Rules, 2006 issued by the Central Government in consultation with the national Advisory Committee on Accounting Standards.

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

AS 1.1.1 1.1 Cash and cash equivalents (for purposes of Cash Flow Statement)

Cash comprises cash on hand, current and other accounts.

1.2 Cash flow statement

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

AS 2.1.1.1 Revenue recognition

Sale of goods

Sales are recognised, net of returns and trade discounts, on transfer of significant risks and rewards of ownership to the buyer,which generally coincides with the delivery of goods to customers.

AS 3.1.1 Investments

Unquoted Investments are stated at cost.

The Total Value of Quoted Investments was Rs. 7,257,120/- as on 31.3.2012 (Such value is ascertained by considering the market price prevailing on such date).

AS 4.1.1 Employee benefits

As per the management the provisions of Gratuity Act, Provident Fund Act and Employees State Insurance Scheme are not applicable to the company at present.

AS 5.1.1 Related Party Disclosures

List of related parties with whom transactions have taken place during the current accounting period and relationship:

Key Management Personnel

Mr. Manoj Shah (Director)

Mr. Kushal Shah (Managing Director)


Mar 31, 2010

AS-1 RELATED PARTY DISCLOSURES

1. Related party disclosure

A. List of related parties with whom transactions have taken place during the current accounting period and relationship:

A. Key Management Personnel

Mr. Manoj Shah (Director)

Mr. Premal Parekh (Director)

Mr. Alpesh Dedhia (Director)

Mr. Kushal Shah (Director)

Mr.Paras Mehta (Director)

Mr. Krishna Birmole (Director)

Mr. Faiyaz Rangwala (Director)



AS-29 PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT

ASSETS

There is no Contingent Liability, Contingent Assets as at the close of the year.

Additional information as required under Part IV of Schedule VI to the Companies Act, 1956 (vide Notification No. GSR 388 (E) dated 15.5.95).

Balance Sheet Abstract and Companys General Business Profile :

I. Scrip Code : 512355 Balance Sheet Date : 31st March 2010

II. Capital raised during the year (Amount in Rs.NIL)

Public Issue : NIL

Bonus Issue : NIL

Rights Issue : NIL

Private Placement : NIL

III. Position of Mobilisation, and Deployment of Fund : (Amount in Rs. Thousand)

Total Liabilities 63646.10 Total Assets 63646.10

Sources of Funds :

Paid up Capital 9600.00 Reserves & Surplus 51143.11

Secured Loan 0.00 Unsecured Loans 2902.99

Share Application Money 0.00 Deferred Tax Liability 0.00

Application of Funds :

Net Fixed Assets 356.39 Investments 15235.06

Net Current assets 48054.65 Misc. Expenditure 0.00

Accumulated Losses 0.00

IV. Performance of Company (Amount in Rs. Thousand):

Other Income 2820.10 Total Expenditure 1218.79

Profit / Loss before Tax 1601.31 Profit / Loss after tax 1353.91 Earnings Per Share in Rs. 1.41 Dividend Rate -

V. Generic Names of Three Principal Products / Services of Company (as per monetary terms)

Item Code No. NIL

Product Description NIL

 
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