Mar 31, 2015
1. Contingent liabilities not provided for:
Demand of Value Added Tax of Rs. Nil (Rs. 6,409/-)
Demand of Central Sales Tax of Rs. Nil (Rs. 6, 07,372/-)
2. Related Party Disclosures :
List of Related Parties with whom transactions have taken place during
the year:
A) Key Management Personnel
Shri Vijaykumar D. Agarwal
B) Relatives of Key Management Personnel's
Name of Party Related Party Relationship
Smt. Santoshdevi V. Agarwal Wife of Key Management Personnel
Mrs. Ruchira V. Agarwal Daughter in law of Key Management
Personnel
Vanita V Agarwal Daughter of Key Management Personnel
Mr. Vijay Kumar D. Agarwal Key Management personnel is Karta
(HUF)
Mr. Vishal V Agarwal Son of Key Management Personnel
Minor Aarya V. Agarwal Grandson of Key Management Personnel
Minor Khwaish V. Agarwal Granddaughter of Key Management
Personnel
Tanish Industries Pvt Ltd Relatives of Key Management
Personnel are Directors
V.K.A. Finance & Investment Co. Key Management personnel is Partner
Multi Shaper Pvt. Ltd. Relatives of Key Managerial
Personnel are Directors
Salasar Laminates Ltd. Key Management Personnel is Director
Heritage Board Ltd. Directors are Director in the Company
Heritage Industries Pvt. Ltd Directors are Director in the Company
Par Export Key Management Personnel is partner
V K Foundation Directors are trustee
Krishna Decor Pvt. Ltd. Directors and their relatives are
holding more than 20% shares in the
company
Hidesign Innovation Director's HUF is Proprietor.
3. The difference between excise duty on opening and closing stock of
finished goods is recognized separately in the Statement of Profit &
Loss.
4. Borrowing costs attributable to the acquisition or construction of
Qualifying Assets amounting to Rs. Nil (P. Y. Rs. Nil)
5. During the year, the company has impaired the assets to the tune
of Rs. Nil (P.Y. Rs. Nil).
6. The Company has not received information from vendors regarding
their status under the Micro, Small & Medium Enterprise Development
Act, 2006 and hence disclosure relating to amount unpaid as at year end
together with interest paid/payable under this act has been not given.
7. Balances are subject to confirmation.
8. Previous year's figures have been regrouped and rearranged
wherever necessary, to make them comparable with those of current year.
Notes: Previous year's figures have been shown in brackets.
Mar 31, 2014
1. Share Capital
1.1 The company has only one. class of shares referred to as Equity
shares having face value of Rs. 10/-. Each Holder of equity share is
entitled to 1 vote per share.
1.2 In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive any of the remaining assets of the
company, after distribution of all preferential amounts. However, no
such preferential amounts exist currently. The distribution will be in
proportion to the number of equity shares held by the shareholder.
2. Reserves & Surplus
2.1 Particulars Nature and purpose of
General Reserve The reserve is created out of profit in
accordance with Companies (Transfer of Profit to
Reserve) Rule, 1975 and is distributable in
accordance with Companies (Distribution of
dividend out of Reserve) Rules 1975.
3. Trade Payables
3.1 The company has not received information from vendors regarding
their status under the Micro, Small and Medium Enterprises Development
Act, 2006 and hence disclosure relating to amounts unpaid as at year
end together with interest paid/payable under this Act has not been
given.
NOTES TO FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2014
4. Contingent liabilities not provided for:
Demand of Value Added Tax of Rs. 6,409 - (R Y. Nil)
Demand of Central Sales Tax of Rs. 6, 07,372 - (R Y. Nil)
5. Related Party Disclosures:
List of Related Parties with whom transactions have taken place during
the year:
A) Key Management Personnel
Shri Vijaykumar D. Agarwal
B) Relatives of Key Management Personnel''s
Name of Party Related Party Relationship
Smt. Santoshdevi V. Agarwal Wife of Key Management Personnel
Mrs. Ruchira V. Agarwal Daughter in law of Key Management
Personnel
Vanita V Agarwal Daughter of Key Management
Personnel
Mr. Vijay Kumar D. Agarwal (HUF) Key Management personnel is Karta
Mr. Vikas V Agarwal Son of Key Management Personnel
Mr. Vishal V Agarwal Son of Key Management Personnel
Mrs. Shraddha V. Agarwal Daughter in law of Key Management
Personnel
Minor Aarya V. Agarwal Grandson of Key Management
Personnel
Minor Khwaish V. Agarwal Granddaughter of Key Management
Personnel
Minor Aditi V. Agarwal Granddaughter of Key Management
Personnel
V.K.A. Finance & Investment Co. Key Management personnel is Partner
Multi Shaper Pvt. Ltd. Relatives are Directors
Salasar Laminates Ltd. Key Management Personnel is
Director
Heritage Board Ltd. Directors are Director in the
Company
Heritage industries Pvt. Ltd Directors are Director in the
Company
Par Export Key Management Personnel is partner
V K Foundation Directors are trustee
Krishna Decor Pvt. Ltd. Directors and their relatives are
holding more than 20% shares in the
company
Hidesign Innovation Director''s HUF is Proprietor.
6. The difference between excise duty on opening and closing stock of
finished goods is recognized separately in the Statement of Profit &
Loss.
7. Borrowing costs attributable to the acquisition or construction of
Qualifying Assets amounting to Rs. Nil (P. Y. Rs. Nil)
8. During the year, the company has impaired the assets to the tune of
Rs. Nil (P.Y. Rs. Nil).
9. Lease:
The Company has entered into certain rent agreements and amounts of Rs.
7.80 Lacs (P.Y. Rs. 5.60 Lacs) paid under such agreements have been
charged to the Statement of profit and Loss. These rents agreements are
generally not non-cancellable and are renewable by mutual consent on
mutually agreed terms. There are no restrictions imposed by such
agreements.
10. The Company has not received information from vendors regarding
their status under the Micro, Small & Medium Enterprise Development
Act, 2006 and hence disclosure relating to amount unpaid as at year end
together with interest paid/payable under this act has been not given.
11. Balances are subject to confirmation.
12. Previous year''s figures have been regrouped and rearranged wherever
necessary, to make them comparable with those of current year.
Mar 31, 2013
1. Contingent liabilities not provided for:
Disputed Demand of Income Tax Rs. Nil (P. Y. Nil).
2. Related Party Disclosures :
List of Related Parties with whom transactions have taken place during
the year: A) Key Management Personnel Shri Vijaykumar D. Agarwal
3. The difference between excise duty on opening and closing stock of
finished goods is recognized separately in the Statement of Profit &
Loss.
4. Borrowing costs attributable to the acquisition or construction of
Qualifying Assets amounting to Rs. Nil (P. Y. Rs. Nil)
5. During the year, the company has impaired the assets to the tune
of Rs. Nil (P.Y. Rs. Nil).
6. The Company has not received information from vendors regarding
their status under the Micro, Small & Medium Enterprise Development
Act, 2006 and hence disclosure relating to amount unpaid as at year end
together with interest paid/payable under this act has been not given.
7. Balances are subject to confirmation.
8. Previous year''s figures have been regrouped and rearranged
wherever necessary, to make them comparable with those of current
year.
Mar 31, 2012
1.1 The company has only one class of shares referred to as Equity
shares having face value of Rs. 10/-. Each Holder of equity share is
entitled to 1 vote per share.
1.2 In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive any of the remaining assets of the
company , after distribution of all preferential amourits. However, no
such preferential amounts exist currently.
The distribution will be in proportion to the number of equity shares
held by the shareholder.
2.1 The company has not received information from vendors regarding
their status under the Micro, Small and Medium Enterprises Development
Act, 2006 and hence disclosure relating to amounts unpaid as at year
end together with Interest paid / payable under this Act has not been
given.
3. Contingent liabilities not provided for:
Disputed Demand of Income Tax Rs. Nil (P. Y. Rs. 0.15 Lacs).
4. Related Party Disclosures :
List of Related Parties with whom transactions have taken place during
the year:
A) Key Management Personnel
Shri Vijav kumar D. Agarwal
5. Balances are subject to confirmation.
6. Previous year's figures have been regrouped and rearranged
wherever necessary, to make them comparable with those of current year.
Till the year ended 31" March 2011, the company was using pre-revised
Schedule VI to the Companies Act, 1956, for preparation and
presentation of its financial statements. During the year ended 31st
March, 2012, the revised schedule VI notified under the Companies Act,
1956, has become applicable to the company. The Company has
reclassified previous year figures to conform to this classification.
The adoption of revised schedule VI does not impact recognition and
measurement principles followed for preparation of financial statement.
However, it significantly impacts presentation and disclosures made In
the financial statements, particularly presentation of Balance Sheet.
Mar 31, 2011
I. Balances are subject to confirmation
ii. Paisa is rounded up to the nearest rupee.
iii. In the Opinion of the Board, Current Assets, loans and advances
are approximately of the value stated if relaxed in the ordinary
course of business
iv. Figures of the previous year have been regrouped and /or rearranged
wherever found necessary to make them comparable with those of the
current year. v.
v.Contingent liabilities not provided for:- Disputed Demand of Income
Tax Rs.0.15 Lacs (Previous year Rs. Nil)
vi Related Party Disclosures :
List of Related Parties with whom transactions have taken place during
the year: Last of Transactions, out of the transaction reported in the
above table, where the transaction entered into with single party
exceeds 10 % of the total related party transactions of similar nature
are as under:
vii. The Company is Small and Medium Sized Company (SMC) as defined
in the General Instructions i respect of Accounting Standards notified
under the Companies Act, 1956. Accordingly, the Company has complied
with the Accounting Standards as applicable to a Small and medium Sized
Company.
viii. The company has not received information from vendors regarding
their status under the Micro, Sam and Medium Enterprises Development
Act, 2006 and hence disclosure relating to amounts unpaid a at year end
together with interest paid / payable under this Act has not been
given.
ix. The figures of the previous year have been regrouped and
rearranged wherever considered incessant
Mar 31, 2010
1. Balances are subject to confirmation.
2. Paise are rounded up to the nearest rupee.
3. In the Opinion of the Board, Current Assets, Loans and Advances are
approximately of the value stated if realised in the ordinary course of
business.
4. Figures of the previous year have been regrouped and/or rearranged
wherever found necessary to make them comparable with those of the
current year.
A) Key Management Personnel
Shri vljaykumar D. Agarwal
1. The Company is Small and Medium Sized Company (SMC) as defined in
the General Instructions in respect of Accounting Standards notified
under the Companies Act, 1956. Accordingly, the Company has complied
with the Accounting Standards as applicable to a Small and medium Sized
Company.
2. The company has not received information from vendors regarding
their status under the Micro, Small and Medium Enterprises Development
Act, 2006 and hence disclosure relating to amounts unpaid as at year
end together with interest paid / payable under this Act has not been
given.
Notes : Previous years figures have been shown in brackets.