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Notes to Accounts of Boston Leasing and Finance Ltd.

Mar 31, 2014

1) Notes 1 to 26 forms the integrated part of the Balance Sheet as at 31st March, 2014 and Profit and Loss Account for the year ending on that date.

2) Estimated amount of contracts remaining to be executed on Capital Account Rs. NIL (Previous Year Rs.NIL).

3) In the opinion of Board of Directors, the current assets are approximately of the value stated if realized in the ordinary course of business. The provisions for depreciation and all known and ascertained liabilities are adequate and not in excess of the amounts reasonably necessary.

4) Balances of Unsecured Depositors and Sundry Debtors are subject to confirmation from respective parties. Provision for doubtful debts if any, in respect of above and the consequential adjustment, if any arising out of reconciliation is unascertainable at this stage.

5) Earning/Expenditure in Foreign Currency- Rs. NIL (Previous Year Rs. NIL)

6) Previous Year's figures have been re-grouped and re-arranged wherever necessary so as to confirm to current year grouping.

Mar 31, 2013

1. Previous year figures have been regrouped and readjusted wherever necessary to confirm the current year's classification.

3. Figures have been rounded off to the nearest rupee.

4. No provision for bonus has been made in accounts as the Company does not estimate any available surplus for bonus during the period.

5. Contingent Liabilities : The liabilities in respect of which the company is not contigently liable.

6. Claims against the company not acknowledged as debts Rs.Nil (Previous year Nil)

7. The Balance of Loans & Advances, Sundry Creditors, Deposits, Bank Balance are subject to confirmation by the parties.

8. Investments :

i) The Physical verification of the shares, records and contract for purchase of shares could not be verified.

ii) As per the information and explanations given to us the value of quoted/unquoted shares could not be determined neither the share market quote was available nor the relevant annual accounts were available for arriving their intrinsic value.

In absence of such information, the diminutions in value of shares are placed at 100% for which no provision is made in accounts.

9. i) Advances from Sesar Greenfield International Ltd. amounting to Rs 30,73,837/- as explained to us are free of interest.

ii) The said advances are doubtful of Recovery and has become time barred for instituting any claim under statute. However no provision is made for Bad & Doubtful Debts

10. No accounts (both debit & credit) during the year, forming advances have been mutually set off or adjusted against sundry creditors or unsecured loans for which no confirmation is available for our verification. We have relied on the explanation given by the management.

11. Particulars of expenditure on Employees:

There are no employees who were either in the employment for full year or part thereof drawing salary exceeding Rs.3.00 lacs per annum or Rs.25,000/0 per month as the case may be.

12. In the opinion of the Board and to the best of their knowledge and belief, the value on realization of loans and advances, debtors and other current assets in the ordinary course of the business will not be less than the amount at which they are stated in balance sheet read with the notes attached herewith.

Oct 21, 12:00 am
Oct 21, 4:14 pm
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