Home  »  Company  »  Colinz Laborator  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Colinz Laboratories Ltd.

Mar 31, 2013

1.1) With regard to loan given to Company, the Board of Directors are of the opinion that, no provision for doubtful debt is required to be made as the amount being recovered in installments 1.18)Earning per share

The Company reports Earning Per Share (EPS) in accordance with Accounting Standard 20 on "Earning Per Share". Basic EPS is computed by dividing the net profit for the year by the weighted Average number of Equity Shares outstanding during the year. Diluted EPS is computed by dividing the net profit or loss for the year by the weighted average number of equity shares outstanding during the year as adjusted for the effects of all dilutive potential equity shares, except where the results are anti-dilutive. 1.19)Provisions for Current and Deferred Tax.

i) Provision for Current Tax is made after taking into consideration benefits admissible under the provision of Income Tax Act 1961.

ii) Deferred tax resulting from timing differences between taxable and accounting income is accounted for using the tax rate and laws that are enacted or substantively enacted as on the Balance Sheet date. The deferred tax asset arising on account of brought forward unabsorbed depreciation is recognized only to the extent there is a reasonable certainty of realization.

1.2) AS - 28 Impairment of Assets.

As on the Balance Sheet date the carrying amounts of the assets net of accumulated depreciation is not less than the recoverable amount of those assets. Hence there is no impairment loss on the assets of the company.

In the opinion of Board of Directors, the Current Assets, Loans and advances have a value which on the realization in the ordinary course of business would at least be equal amount stated in the Balance sheet.


Mar 31, 2012

A The figures of previous year have been regrouped wherever necessary.

b As per the available records, there is no outstanding dues to enterprises registered under Micro, Small and Medium Enterprises Development Act, 2006, at the end of the year. Further, no interest has been paid or payable on delayed payment of dues, if any, to such enterprises during the year

c. Estimated amount of contracts remaining to be executed on capital account and not provided for: Rs.Nil [ Previous Year: Rs. Nil]

d. Contingent Liabilities:

Bills Discounted and Purchased - Rs. Nil (Previous Year Rs. Nil) Others - Rs. Nil (Previous Year Rs. Nil)

e. Segment Reporting

The Company is engaged in pharmaceutical formulation business which as per Accounting Standard - AS 17 is considered the only reportable business segment.

f Related party transaction

As required by Accounting Standard - AS 18 'Related Parties Disclosare issued by the Institute of Chartered Accountants of India are as follows :

(a) Key Management personnel (b) Details of Transactions.

(i) Dr. L. S. Mani. Remuneration paid Rs.8,40,500/-

Rent paid for the premise hired Rs. 1,80,000/-

g. Earning per share

As per Accounting Standard - AS 20 on 'Earning per Share' issued by the Institute of Chartered Accountants of India, the earning per share of the Company is Rs. 0.24.

h. Accounting for Taxes on Income.

In accordance with the AS-22, Accounting for Taxes on Income, issued by the Institute of Chartered Accountants of India, deferred tax resulting from timing differences between book and tax profits is accounted for, at the current rate of tax, to the extent the timing differences are expected to crystallize. The deferred tax asset arising on account of brought forward unabsorbed depreciation is recognized only to the extent there is a reasonable certainty of realization.

i. AS - 28 Impairment of Assets.

As on the Balance Sheet date the carrying amounts of the assets net of accumulated depreciation is not less than the recoverable amount of those assets. Hence there is no impairment loss on the assets of the company. In the opinion of Board of Directors, the Current Assets, Loans and advances have a value which on the realization in the ordinary course of business would at least be equal amount stated in the Balance sheet. 1. With regard to loan given to Company, the Board of Directors are of the opinion that no interest should be provided in the accounts as the principle amount has not been recovered, Further, no provision for doubtful debt is required to be made as the amount is expected to be recovered in due course.

j. The Share Capital includes 4,00,000 Equity Shares of Rs. 10/- each, allotted as fully paid Bonus Shares by capitalisation of Capital Reserves in 1994-95.

k. Additional information pursuant to the provisions of paragraph 3,4C and 4D of Part II of Schedule VI to the Companies Act, 1956, as certified by the Directors.

Quantitative and Turnover information for the year ending 31st March, 2012.

(Previous year figures are regrouped wherever necessary


Mar 31, 2009

1 The figures of previous year have been regrouped wherever necessary

2 As per the available records, there is no outstanding dues to enterprises registered under Micro, Small and Medium Enterprises Development Act, 2006, at the end of the year Further, no interest has been paid or payable on delayed payment of dues, if any, to such enterprises during the year

3 Estimated amount of contracts remaining to be executed on capital account and not provided for: RsNil Previous Year : Rs Nil

4 Contingent Liabilities:

Bills Discounted and Purchased - Rs Nil (Previous Year Rs Nil )

Others - Rs Nil (Previous Year Rs Nil )

5 Segment Reporting

The Company is engaged in pharmaceutical formulation business which as per Accounting Standard - AS 17 is considered the only reportable business segment

6 Related party transaction

As required by Accounting Standard - AS 18 Related Parties Disclosure issued by the Institute of Chartered

Accountants of India are as follows :

(a) Key Management personnel (b) Details of Transactions

(i) Dr L S Mani Remuneration paid Rs6,14,500/- Rent paid for the premise hired Rs 1,14,000/- 10

Earning per share

As per Accounting Standard - AS 20 on Earning per Share issued by the Institute of Chartered Accountants of India, the earning per share of the Company is Rs002

7 Accounting for Taxes on Income

In accordance with the AS-22, Accounting for Taxes on Income, issued by the Institute of Chartered Accountants of India, deferred tax resulting from timing differences between book and tax profits is accounted for, at, the current rate of tax, to the extent the timing differences are expected to, crystallize The deferred tax asset arising on account of brought forward unabsorbed depreciation is recognized only to the extent there is a reasonable certainty of realization

8 AS - 28 Impairment of Assets

As on the Balance Sheet date the carrying amounts of the assets net of accumulated depreciation is not less than the recoverable amount of those assets Hence there is no impairment loss on the assets of the company In the opinion of Board of Directors, the Current Assets, Loans and advances have a value which on the realization in the ordinary course of business would at least be equal amount stated in the Balance sheet 13 With regard to loan given to Company, the Board of Directors are of the opinion that no interest should be provided in the accounts as the principle amount has not been recovered Further, no provision for doubtful debt is required to be made as the amount is expected to be recovered in due course

9 The Share Capital includes 4,00,000 Equity Shares of Rs 10/- each, allotted as fully paid Bonus Shares by capitalisation of Capital Reserves in 1994-95

10 Additional information pursuant to the provisions of paragraph 3, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956, as certified by the Directors Quantitative and Turnover information for the year ending 31st March, 2009

 
Subscribe now to get personal finance updates in your inbox!