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Notes to Accounts of Channel Nine Entertainment Ltd.

Mar 31, 2015

1.1 The previous year's figures have been reworked, regrouped, rearranged and re classified wherever necessary.

1.2 All the investments made by the company are valued at Cost .

1.3 Managerial Remuneration: 300,000

1.4 The Company does not have any inventory as at 31.03.2015.

1.5 Differed tax arising on account of timing difference and which are capable of reversal in one or m ore subsequent periods is recognized using the tax rates and tax laws that have been enacted or substantively enacted. Differed tax assists are recognized unless there is virtual certainty with respect to the reversal of the same in future years. 1.6 All schedules annexed to and from integral part of the Balance Sheet and Profit & Loss Account.

1.7 Minimum Alternative Tax (MAT) is recognized as an asset only when and to the extent there is convicting evidence that the company will pay normal income tax during the specified period. The Company reviews the same at each balance sheet date and writes down the carrying amount of MAT Credit Entitlement to the extent there is no longer convicting evidence to the effect that company will pay normal Income Tax during the specified period.

1.8 Related party transaction:

As per AS-18-"Related Party Disclosure" the disclosures of transactions with the related parties are given below:

* The company has split face value of its Equity shares from Rs. 10/- to Re. 1/- each after issue. Hence no. of shares changed accordingly

1.9 Contingent Liability not provided for:

Income tax matters in dispute/under Appeal:

The Income Tax assessment for the company have been completed up to the financial year ended 31st March 2012, arising from the completed assessment there is net demand of Rs. 2,11,71,420 (excluding interest). The company have gone on further appeal on this matter. Due to pending progress in appeal, the liability for the demand has not been recognized in the accounts.

* The company has sub-divided its Equity Shares from Face value of Rs 10/- to Re 1/-.

Notes referred to above and notes attached there to form an integral part of Profit & Loss Statement

* Note: The above Cash Flow Statement has been prepared under "Indirect Method" as set out in the Accounting Standard (AS) – 3 on Cash Flow Statements- issued by the Institute of Chartered of Accountants of India.


Mar 31, 2014

The previous year''s figures have been reworked, regrouped, rearranged and reclassified wherever necessary.

All the investments made by the company are valued at Cost .

The inventories of the company are valued as per cost price and market price which everis less.

Deferred tax arising on account of timing difference and which are capable of reversal in one or more subsequent periods is recognised using the tax rates and tax laws that have been enacted or substantively enacted. Defferedtax assests are recognised unless there is virtual certainty with respect to the reversal of the same in future years.

The revised Schedule VI as notified under the companies Act,1956, has become applicable to the company for the presentation of its financial statements for the year ending JANUARY 31,2013. The adoptation of the revised Schedule VI requirements has significantly modified the presentation and disclosurs which have been complied with in these financial statements Previous year figures have been reclassified in accordance with current year requirements.

All schedules annexed to and form integral part of the Balance Sheet and Profit & Loss Account.

Minimum Alternative Tax (MAT) is recognised as an asset only when and to the extent there is convicing evidence that the company will pay normal income tax during the specefied period. The Company reviews the same at each balance sheet date and writes down the carrying amount of MAT Credit Entilement to the extent there is no longer convicing evidence to the effect that company will pay normal Income Tax during the specified period.

Value of Import on CIF Basis Nil

Earnings in Foreign Exchange (FOB Value) Nil

Expenditure in foreign Currency Nil

The Company has no employee to whom the provisions of section 217 (2A) of the Companies Act, 1956 are applicable.


Mar 31, 2013

The previous year''s figures have been reworked, regrouped, rearranged and reclassified wherever necessary.

All the investments made by the company are valued at Cost .

The inventories of the company are valued as per cost price and market price which ever is less.

Deferred tax arising on account of timing difference and which are capable of reversal in one or more subsequent periods is recognised using the tax rates and tax laws that have been enacted or substantively enacted. Deffered tax assests are recognised unless there is virtual certainty with respect to the reversal of the same in future years.

The revised Schedule VI as notified under the companies Act,1956, has become applicable to the company for the presentation of its financial statements for the year ending JANUARY 31,2013. The adoptation of the revised Schedule VI requirements has significantly modified the presentation and disclosurs which have been complied with in these financial statements Previous year figures have been reclassified in accordance with current year requirements.

All schedules annexed to and form integral part of the Balance Sheet and Profit & Loss Account.

Minimum Alternative Tax (MAT) is recognised as an asset only when and to the extent there is convicing evidence that the company will pay normal income tax during the specefied period. The Company reviews the same at each balance sheet date and writes down the carrying amount of MAT Credit Entilement to the extent there is no longer convicing evidence to the effect that company will pay normal Income Tax during the specified period.

Value of Import on CIF Basis Nil

Earnings in Foreign Exchange (FOB Value) Nil

Expenditure in Foreign Currency Nil

The Company has no employee to whom the provisions of section 217 (2A) of the Companies Act, 1956 are applicable.

* Note: The above Cash Flow Statement has been prepared under "Indirect Method" as set out in the Accounting Standard (AS) – 3 on Cash Flow Statements'' issued by the Institute of Chartered of Accountants of India.


Mar 31, 2012

1. Contingent liabilities NIL previous year NIL

2. Figures of previous year have been regrouped, re-cast or rearranged to make them comparable withl
3. Figures in bracket indicate negative figure.

4. Information required under Paragraph 3 aind 4 of the Schedule VI of the Companies Act, 1956 are given to the extent applicable.

5. Loans & Advances & other current assets excludes investment in the shares of other companies. Provision for any devaluation in the values of-investments was not ascertained and hence not provided for, if any in the books of accounts. Investments are classified into long term & short term investment. Long term investments are stated at cost. Provision for diminution in the value of long term investments is made only if such decline is other than temporary in the opinion of management.

6. Balances of the Debtors, Creditors and Loans & Advances are subject to confirmation & reconciliation.

7. There were no Employees covered-under the PF, ESI Act. Also the requirementlof AS - 15 (Revised) as notified by Companies (Accounting Standard) Rules 2006 relating to the provision for Employee Benefit viz. leave encashment, Gratuity, etdMs not applicable. Hence the disclosure required has not been given.

8 .The Company hsd no dealing with Small & Medium Enterprises covered Under the SME''s Act; hence, no information is given as required under the Act.

 
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