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Notes to Accounts of Edserv Softsystems Ltd.

Mar 31, 2011

1. As at the Balance Sheet date the Company does not have any dues outstanding to Micro, Small and Medium Enterprises as defined in the "The Micro, Small and Medium Enterprises Development Act and as such no interest is paid or payable or accrued or outstanding during the year to any suppliers who are covered under the Micro, Small and Medium Enterprises Development Act, 2006.

2. The Company is engaged in the business of Software Development / Services and licensing of Software Products and related services. The production and sale of such software and related services cannot be expressed in any generic unit. Hence it is not possible to give the quantitative details of sales and information as required under paragraphs 3,4C and 4D of Part II to Schedule VI to the Companies Act, 1956.

3. The Employment term does not provide for Leave Encashement and hence no provision has been made in the accounts.

4. The entire expenditure relating to Advertisement for Brand building, Printing of Course Contents and an amount of Nil (Previous year Rs. 18,00,000/-] relating to Employment Expenses has been deferred and has been included in Capital Work in Progress.

5. The total Directors Remuneration for the year is Rs. 1,02,00,000/- (Previous Year Rs. 84,68,720/-). Out of the above Rs. Nil (Previous Year Rs. 18,00,000/-) is deferredand included under Capital Workin Progress Product Development.

6. Share Application money of Rs. 8,75,11,065/- (Previous Year Rs. 50,10,986/-) received from preferential applicants (Previous Year Rs. 25,00,003/- received from Mr. S. Giridharan and Rs. 25,00,003/- received Mrs. G. Gita) towards 25% of Share Warrant application money) issued during the year.

7. The Company has taken various offices under operating lease agreements. These are generally cancelable and are renewable by mutual consent on mutually agreed terms. Rental Expenses of Rs. 61,99,391/- (Previous Year Rs. 39,11,118/-) in respect of obligation under operating leases have been recognized in the Profit and Loss Account.

8. There are no amounts due and outstanding to be credited to Investors Education and Protection Fund as on 31st March 2011 (Previous Year - Nil).

9.Figures have been rounded off to the nearest rupee and are regrouped / reclassified wherever necessary.


Mar 31, 2010

1. As at the Balance Sheet date the Company does not have any dues outstanding to Micro, Small and Medium Enterprises as defined in the "The Micro, Small and Medium Enterprises Development Act and as such no interest is paid or payable or accrued or outstanding during the year to any suppliers who are covered under the Micro, Small and Medium Enterprises Development Act, 2006.

2. The Company is engaged in the business of Software Development / Services and licensing of Software Products and related services. The production and sale of such software and related services cannot be expressed in any generic unit. Hence, it is not possible to give the quantitative details of sales and information as required under paragraphs 3, 4C and 4D of Part II to Schedule VI to the Companies Act, 1956.

3. The Employment term does not provide for Leave Encashement and hence no provision has been made in the accounts.

4. There are no Earnings in Foreign Currency and no Expenditure in Foreign Currency during the year (Previous Year Nil).

5. The entire expenditure relating to Advertisement for Brand building, Printing of Course Contents and an amount of Rs.18,00,000/- relating to Employment Expenses has been deferred and has been included in Capital Work in Progress.

6. The Company is into only one Segment of Software Training and Development and Project Consultancy and the Company operates presently in India only.

7. The total Directors Remuneration for the year is Rs.84,68,720/- (Previous Year Rs.60,00,000/-). Rs.66,50,000/- is included in Employment Expenses and Rs.18,00,000/- which is deferred included under Capital Work in Progress.

8. Share Application money of Rs.50,10,986/- includes Rs.25,00,003/- received from Mr. S. Giridharan and Rs.25,00,003/- received Mrs. G. Gita towards 25% of Share Warrant application money issued during the year.

9. The Company has taken various offices under operating lease agreements. These are generally cancelable and are renewable by mutual consent on mutually agreed terms. Rental Expenses of Rs.39,11,118/- (Previous Year Rs.22,10,000/-) in respect of obligation under operating leases have been recognized in the Profit and Loss Account.

10. There are no amounts due and outstanding to be credited to Investors Education and Protection Fund as on 31" March 2010 (Previous Year Nil).

11. Figures have been rounded off to the nearest rupee and are regrouped / reclassified wherever necessary.

 
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