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Notes to Accounts of Citizen Yarns Ltd.

Mar 31, 2014

I. Previous years figures have been regrouped wherever necessary.

II. Balances of creditors, Loans & Advances and Debtors are subject to confirmation by the parties concerned.

III. In respect of sales tax / income tax liability company does not expect any more liability than provided in the books of accounts.

IV. Expenditure on Employees getting remuneration not less Rs.300000/- per year employed throughout the year and Rs.25000/- per month employed for part of year

V. We relied on vouchers duly certified by the Assessed wherever original bills are not available during the test checked conducted in the course of our audit.

VI. In the opinion of the Directors of the Company the current assets, Loans & Advances appearing in the balance sheet are approximately of the value as stated if realized in the ordinary course of business.

VII. Cash on hand at the year end certified by the management. Moreover we are not physically Verified the Cash Balance as on 31-03-2014.

VIII. We are unable to express our opinion regarding diminution, if any, in the value of the investments as no documentary evidence were available or verification / judgment of the same.

IX. Although the working of Plant & Machinery and other assets were not effective during the year under review, So the depreciation on assets have not been accounted to give effects of decrease in value of timing factor.

X. During the year 1997-989 company has taken loan from Different Institute like GIDC, GNFC, Bank of India Cash Credit, GSFC, and Management has not provided any data for same loan. So, we are unable to express any opinion on the Status of Loans Taken & Repayment as the same were outstanding for a long Period. This all loan are also Personally Granted by Shri H.P. Khetan, and Govindram Khetan.


Mar 31, 2013

I. Previous year''s figures have been regrouped wherever necessary.

II. Balances of creditors, Loans & Advances and Debtors are subject to confirmation by the parties concerned.

III. In respect of sales tax / income tax liability company does not expect any more liability than provided in the books of accounts.

IV. Expenditure on Employees getting remuneration not less Rs.300000/- per year employed throughout the year and Rs.25000/- per month employed for part of year

V. We relied on vouchers duly certified by the Assessed wherever original bills are not available during the test checked conducted in the course of our audit.

VI. In the opinion of the Directors of the Company the current assets, Loans & Advances appearing in the balance sheet are approximately of the value as stated if realized in the ordinary course of business.

VII. Cash on hand at the yearend certified by the management. Moreover we are not physically Verified the Cash Balance as on 31-03-2013.

VIII. We are unable to express our opinion regarding diminution, if any, in the value of the investments as no documentary evidence were available or verification / judgment of the same.

IX. Although the working of Plant & Machinery and other assets were not effective during the year under review, So the depreciation on assets have not been accounted to give effects of decrease in value of timing factor.

X. During the year 1997-989 company has taken loan from Different Institute like GIDC, GNFC, Bank of India Cash Credit, GSFC, and Management has not provided any data for same loan. So, we are unable to express any opinion on the Status of Loans Taken & Repayment as the same were outstanding for a long Period. This all loan are also Personally Granted by Shri H.P. Khetan, and Govindram Khetan.


Mar 31, 2012

I. Previous years figures have been regrouped wherever necessary.

II. Balances of creditors, Loans & Advances and Debtors are subject to confirmation by the parties concerned.

III. In respect of sales tax/income tax liability company does not expect any more liability than provided in the books of accounts.

IV. Expenditure on Employees getting remuneration not less Rs. 300000/- per year employed throughout the year and Rs. 25000/- per month employed for part of year.

V. We relied on vouchers duly certified by the Assessee wherever original bills are not available during the test checked conducted in the course of our audit.

VI. In the opinion of the Directors of the Company the current assets, Loans & Advances appearing in the balance sheet are approximately of the value as stated if realized in the ordinary course of business.

VII. Cash on hand at the year end certified by the management. Moreover we are not physically Verified the Cash Balance as on 31-03-2012.

VIII. We are unable to express our opinion regarding diminution, if any, in the value of the investments as no documentary evidence were available or verification/judgment of the same.

IX. Although the working of Plant & Machinery and other assets were not effective during the year under review, So the depreciation on assets have not been accounted to give effects of decrease in value of timing factor.

X. During the year 1997-989 company has taken loan from Different Institute like GIDC, GNFC, Bank of India Cash Credit, GSFC, and Management has not provided any data for same loan. So, we are unable to express any opinion on the Status of Loans Taken & Repayment as the same were outstanding for a long Period. This all loan are also Personally Granted by Shri H. P. Khetan and Govindram Khetan.


Mar 31, 2010

I. Previous years figures have been regrouped wherever necessary.

II.Balances of creditors, Loans & Advances and Debtors are subject to confirmation by the parties concerned.

III. In respect of sales tax /income tax liability company does not expect any more liability than provided in the books of accounts.

VIII. We relied on vouchers duly certified by the Assessee wherever original bills are not available during the test checked conducted in the course of our audit.

IX. In the opinion of the Directors of the Company the current assets, Loans & Advances appearing in the balance sheet are approximately of the value as stated if realized in the ordinary course of business.

X. Cash on hand at the year end certified by the management. Moreover we are not physically Verified the Cash Balance as on 31-03-2010.

XI. Directors have not been provided us the Verification of Minute Book of Board of Directors and Minute Book of Annual General Meeting for verification. The Management explained to us that the same are under Preparation and will be produced before you as soon as they are completed.

XII. We are unable to express our opinion regarding diminution, if any, in the value of the investments as no documentary evidence were available or verification / judgment of the same.

XIII. Although the working of Plant & Machinery and other assets were not effective during the year under review, So the depreciation on assets have not been accounted to give effects of decrease in value of timing factor.

XIV. During the year 1997-989 company has taken loan from Different Institute like GIDC, GNFC, Bank of India Cash Credit, GSFC, and Management has not provided any data for same loan. So, we are unable to express any opinion on the Status of Loans Taken & Repayment as the same were outstanding for a long Period. This all loan are also Personally Granted by Shri H.P. Khetan, and Govindram Khetan.

XV. We are unable to express any opinion on the Status of Recovery of Loans & Advances as the same were outstanding for a long Period.

 
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