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Notes to Accounts of Funny Software Ltd.

Mar 31, 2014

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

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

3. Managerial Remuneration: Nil

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

5. Deffered tax arising on account of timing differeance 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.

6. 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 March 31,2014. The adoptation of the revised Schedule VI requirements has significantly modified the presentation and disclosure which have been complied with in these financial statements Previous year figures have been reclassified in accordance with current year requirements.

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

8. 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.

9. Value of Import on CIF Basis Nil

10. Earnings in Foreign Exchange (FOB Value) Nil

11. Expenditure in Foreign Currency Nil

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


Mar 31, 2011

1. Contingent Liabilities not provided for in the accounts (As certified by the Management):NIL [Previous Year:NIL]

2. In the opinion of the Board the current assets, loans & advances and current liabilities are of the value stated, if realised / paid in the ordinary course of the business.

3. Provision for Income tax [Current taxes and Deferred Taxes] has not been made as the company as there in no tax liability on the company having regard to provisions of the Income Tax Act and further, there is no deferred tax liability of the company.

4. Amount due to Directors-NIL[Previous Year:NIL]. Maximum amount outstanding during the period Rs NIL[Previous Year:NlL.].

5. Previous year figures have been regrouped and rearranged where-ever considered necessary.

6. Schedule A to G forms an integral part of the accounts.


Mar 31, 2010

1. Contingent Liabilities not provided for in the accounts (As certified by the Management):NIL [Previous Year:NIL]

2. In the opinion of the Board the current assets, loans & advances and current liabilities are of the value stated, if realised / paid in the ordinary course of the business.

3. Provision for Income tax [Current taxes and Deferred Taxes] has not been made as the company as there in no tax liability on the company having regard to provisions of the Income Tax Act and further, there is no deferred tax liability of the company.

4. Amount due to Directors-NIL[Previous Year:NIL]. Maximum amount outstanding during the period Rs NIL[Previous Year:NlL.].

5. Previous year figures have been regrouped and rearranged where-ever considered necessary.

6. Schedule A to G forms an integral part of the accounts.

 
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