Mar 31, 2018
Notes to the reconciliation
1 Under Previous GAAP, there was no concept of other comprehensive income. Under Ind AS, specified items of income, expenses, gains, or losses ae required to be presented in other comprehensive income.
2. Previous year figures have been regrouped/restated wherever considered necessary.
3. Approval of financial statements
The Financial statements for the year ended 31st March 2018 were approved by the board of directors and authorized for issue on 25th May 2018
Mar 31, 2016
b) Terms/rights attached to equity shares
Company has only one class of equity shares having a par value of '' 1/-. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed, if any, by the Board of Directors is subject to approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
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 ownerships of shares
d) The Company has not allotted any fully paid up shares pursuant to contract(s) without payment being received in cash nor has allotted any fully paid up shares by way of bonus shares nor has bought back any class of shares during the period of five years immediately preceding the balance sheet date.
Based on the information available with the Company, no supplier / service provider has informed of having filed any memorandum with the notified authority under The Micro, Small, and Medium Enterprise Development Act, 2006 (âthe Actâ), claiming their status as a Micro or Small Enterprise. This information has been relied upon by the auditors. Consequently, as of now, it is neither possible for the Company to ascertain whether payment to such enterprises has been made within 45 days from date of acceptance of supply of goods or services rendered by a supplier nor to give the relevant disclosures as required under the Act.
The company does not have any potential equity options.
1 Related party transactions
Following information regarding related parties has been determined on the basis of criteria specified in AS-18 âRelated Party Disclosuresâ
a) Related parties with whom transactions have taken place
i) Associate Companies - BMD Private Limited
2 The company''s main objects envisage carrying on business in various textile products. Current operations, according to the management, constitute a single segment and accordingly the disclosure requirements as per AS-17 ''Segment Reporting'' are not applicable.
3 Previous period''s figures have been regrouped and recast wherever considered necessary.
Mar 31, 2015
A) Terms/rights attached to equity shares
Company has only one class of equity shares having a par value of Rs.1/-.
Each holder of equity shares is entitled to one vote per share. The
Company declares and pays dividends in Indian rupees. The dividend
proposed, if any, by the Board of Directors is subject to approval of
the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive remaining assets of the company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of equity shares held by the
shareholders.
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 ownerships of shares
B) The Company has not allotted any fully paid up shares by way of
bonus shares nor has bought back any class of shares during the period
of five years immediately preceding the balance sheet date. Aggregate
number of shares issued for consideration other than cash during the
period of five years immediately preceding the reporting date are as
follows:
Based on the information available with the Company, no supplier /
service provider has informed of having filed any memorandum with the
notified authority under The Micro, Small, and Medium Enterprise
Development Act, 2006 ("the Act"), claiming their status as a Micro
or Small Enterprise. This information has been relied upon by the
auditors. Consequently, as of now, it is neither possible for the
Company to ascertain whether payment to such enterprises has been made
within 45 days from date of acceptance of supply of goods or services
rendered by a supplier nor to give the relevant disclosures as required
under the Act.
2.1.1 The company's main objects envisage carrying on business in
various textile products. Current operations, according to the
management, constitute a single segment and accordingly the disclosure
requirements as per AS-17 issued under the Companies (Accounting
Standards) Rules, 2006 are not applicable.
2.1.2 Previous period's figures have been regrouped and recast wherever
considered necessary.
Mar 31, 2014
1.1.1 Related party transactions
Following information regarding related parties has been determined on
the basis of criteria specified in AS-18 "Related Party
Disclosures"
a) Related parties with whom transactions have taken place
i) Associate Companies - BMD Private Limited
b) Transactions with Related Parties
1.1.2 The company''s main objects envisage carrying on business in
various Textile Products. Current operations, according to the
management, constitute a single segment and accordingly the Disclosure
Requirements as per AS-17 issued under the Companies (Accounting
Standards) Rules, 2006 are not applicable.
Mar 31, 2013
1. Basis of preparation
The Financial Statements of the Company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The Financial Statements have been prepared 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.
2.1.1 Related Party Transactions
Following information regarding related parties has been determined on
the basis of criteria specified in AS-18 "Related Party
Disclosures"
a) Related Parties with whom transactions have taken place
i) Associate Companies
- BMD Private Limited
2.1.2 The Company''s main objects envisage carrying on business in
various textile products. Current operations, according to the
management, constitute a single segment and accordingly the disclosure
requirements as per AS-17 issued under the Companies (Accounting
Standards) Rules, 2006 are not applicable.
2.1.3 Previous period''s figures have been regrouped and recast wherever
considered necessary.
Mar 31, 2012
1. Basis of Preparation
The financial statements of the Company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The financial statements have been prepared 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.
a) Terms/rights attached to Equity Shares
Company has only one class of equity shares having a par value of Rs.
1/-. Each holder of equity shares is entitled to one vote per share.
The Company declares and pays dividends in Indian rupees. The dividend
proposed, if any, by the Board of Directors is subject to approval of
the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive remaining assets of the Company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of equity shares held by the
shareholders.
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 ownerships of shares.
b) The Company has not allotted any fully paid-up shares by way of
bonus shares nor has bought back any class of shares during the period
of five years immediately preceding the Balance Sheet date. Aggregate
number of shares issued for consideration other than cash during the
period of five years immediately preceding the reporting date are as
follows:
Based on the information available with the Company, no supplier /
service provider has informed of having filed any memorandum with the
notified authority under The Micro, Small and Medium Enterprise
Development Act, 2006 ("the Act"), claiming their status as a Micro
or Small Enterprise. This information has been relied upon by the
auditors. Consequently, as of now, it is neither possible for the
Company to ascertain whether payment to such enterprises has been made
within 45 days from date of acceptance of supply of goods or services
rendered by a supplier nor to give the relevant disclosures as required
under the Act.
The Company does not have any potential equity options.
2.1.1 Related Party Transactions
Following information regarding related parties has been determined on
the basis of criteria specified in AS-18 "Related Party
Disclosures
a) Related Parties with whom Transactions have taken place
i) Associate Companies
- BMD Private Limited
2.1.2 The Company's main objects envisage carrying on business in
various textile products. Current operations, according to the
management, constitute a single segment and accordingly the disclosure
requirements as per AS-17 issued under the Companies (Accounting
Standards) Rules, 2006 are not applicable.
2.1.3 Till the year ended the 31st March 2011, the Company was using
pre-revised Schedule VI to the Companies Act 1956, for preparation and
presentation of its financial statements. During the year ended the
31st March 2012, the revised Schedule VI notified under the Companies
Act 1956, has become applicable to the Company. The Company has
reclassified previous year figures to conform to this year's
classification.
Mar 31, 2010
1. Based on the information available with the Company, no supplier /
service provider has informed / confirmed of having filed any
memorandum with the notified authority under The Micro, Small, and
Medium Enterprise Development Act, 2006 ("the Act"), claiming their
status as a Micro or Small Enterprise. This information has been relied
upon by the auditors. Consequently, as of now, it is neither possible
for the Company to ascertain whether payment to such enterprises has
been made within 45 days from date of acceptance of supply of goods or
services rendered by a supplier nor to give the relevant disclosures as
required under the Act.
2. There were no deffered tax liabilties / assets to be recognised as
at end of the year.
3. The Companys main objects envisage carrying on business in various
textile products. Current operations, according to the management,
constitute a single segment and accordingly the disclosure requirements
as per AS-17 issued under the Companies (Accounting Standards) Rules,
2006 are not applicable.
4. Related party transactions
Following information regarding related parties has been determined on
the basis of criteria specified in AS-18 "Related Party Disclosures" a)
Name of related parties and nature of relationship i) Key Management
Personnel
Mr. Shekhar Agarwal, Managing Director ii) Relatives of Key Management
Personnel
Mrs. Shashi Agarwal
Mr. Shantanu Agarwal
Miss. Shuchi Agarwal
Shekhar Agarwal (HUF) iii) Associate Companies
BMD Private Limited (BMD) iv) Enterprises over which persons described
in (i) above are able to exercise significant influence
RSWM Limited (RSWM)
Essay Marketing Company Ltd
Jyoti Knits (P) Ltd
Agarwal Finestate (P) Ltd
5 Earnings per share ,
Basic earning per share is computed by dividing the net profit or loss
for the year available to equity shareholders by the weighted average
number of equity shares outstanding during the year. Diluted earnings
per share is computed by dividing the net profit or loss for the year
by the weighted average number of equity shares in issue, adjusted for
the effect of all dilutive potential equity shares that were
outstanding during the year. Dilutive potential equity shares are
weighted for the period they were outstanding and are deemed converted
as of beginning of the year, unless they have been issued at a later
date.
6. There is no applicable information pursuant to Paragraphs 3 & 4 of
Part II of Schedule VI td the Companies Act, 1956.
7. Previous year figures have been regrouped and recast wherever
considered necessary.