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Notes to Accounts of Bonanza Industries Ltd.

Mar 31, 2015

1. Balance confirmation have not been received in certain cases. Thus such balance due to or due from the parties are subject to necessary adjustment on receipt of confirmation.

2. We relying the entry appearing in the books of accounts when ever proper supporting not attached.

3. Additional information pursuant to the provision of paragraph 3 & 4 in part 11 of the Schedule vi of the companies act 1656 is not applicable.


Mar 31, 2014

I) Pursuant to the Notification No.447 (E) dated February 28,2011 and Notification No.653 (E) dated March 30, 2011, issued by the Ministry of Corporate Affairs, the Company has prepared its financial statements for the year ended March 31, 2014 as per revised schedules VI to the Companies Act, 1956. Accordingly, the previous year''s figures have been regrouped / reclassified, wherever required to align the financial statements to the

1. Balance confirmation have not been received in certain cases. Thus such balance due to or due from the parties are subject to necessary adjustment on receipt of confirmation.

2. We relying the entry appearing in the books of accounts when ever proper supporting not attached.

4. Additional information pursuant to the provision of paragraph 3 & 4 in part 11 of the Schedule vi of the companies act 1656 is not applicable.


Mar 31, 2013

1. Balance confirmation have not been received in certain cases. Thus such balance due to or due from the parties are subject to necessary adjustment on receipt of confirmation.

2. We relying the entry appearing in the books of accounts when ever proper supporting not attached.

3. Additional information pursuant to the provision of paragraph 3 & 4 in part 11 of the Schedule vi of the companies act 1656 is not applicable.


Mar 31, 2012

(1) Figure for the previous year has been regrouped and re-casted whenever necessary. Figures are rounded off to the nearest rupees.

(2) Depreciation has been provided on SLM basis by adopting the rates prescribed under schedule XIV of the companies act, 1956. Deprecation on addition for the year has been provided on prorate period of uses.

(3) In the absence of taxable profit arising in the foreseeable future, deferred tax as per accounting standard-22 prescribed by the institute of chartered accountants of India, arising on the timing difference on account of carried forward losses has not been considered.

(4) During the year company has written of stores, coal and spares.

Actual capacity in terms of fabric is as per certificate given by management of which Auditors have relied.

License required but the company is registered with textile commissioner under Registration Certificate No. RC/(p)71 in the year 1983.

Manufacturing activities are suspended during the year due to labour unrest there is no production.

SALES PURCHASE OPENING AND CLOSING STOCK

Sales

There are no sales during the year.

RAW MATERIAL CONSUMED

There is no consumption of raw material during the year.

No provision has been made for Income tax for the current year in the absence of taxable profits.

In the opinion of Board, all the Current Assets, Loans & Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated except as expressly stated otherwise.

Balance of Sundry Debtors, Sundry Creditors and Loans & Advances are subject to the confirmation which includes certain old balances.


Mar 31, 2010

(1) Figure for the previous year have been regrouped and recasted whenever necessary. Figures are rounded off to the nearest rupees.

(2) Depreciation has been provided on SLM basis by adopting the rates prescribed under schedule XIV of the companies act, 1956. Deprecation on addition for the year has been provided on prorate period of uses.

(3) In the absence of taxable profit arising in the foreseeable future, deferred tax as per accounting standard-22 prescribed by the institute of chartered accountants of India, arising on the timing difference on account of carried forward losses has not been considered.

(4) During the year company has written of stores, coal and spares.

Actual capacity in terms of fabric is as per certificate given by management of which Auditors have relied.

License required but the company is registered with textile commissioner under Registration Certificate No. RC/(p)71 in the year 1983.

Manufacturing activities are suspended during the year due to labour unrest there is no production.

SALES PURCHASE OPENING AND CLOSING STOCK

Sales

There is no sales during the year.

RAW MATERIAL CONSUMED

There is no consumption of raw material during the year.

No provision has been made for Income tax for the current year in the absence of taxable profits.

In the opinion of Board, all the Current Assets, Loans & Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated except as expressly stated otherwise.

Balance of Sundry Debtors, Sundry Creditors and Loans & Advances are subject to confirmation which include certain old balances.

Figures in Bracket represent previous year figures.

Provision for gratuity has not been made since the company has decided to follow accounting system on cash basis.

 
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