Mar 31, 2014
1. SHARE CAPITAL
The Company has only one class of shares referred to as Equity Shares
having a face value of Rs. 10/-. Each holder of Equity shares is
entitled to one vote per share.
The Company declare and Pays dividend in Indian Rupees.
The Dividend Proposed by Board of Directors is subject to approval of
the shareholder in the next Annual General Meeting
3. Related Parties Disclosure:
Related party disclosure is in accordance with the Accounting Standards
(AS) 18 on "Related Party Disclosure" notified by Companies (Accounting
Standards) Rules, 2006 Identified by management and relied by us.
4. Segment Reporting:
Segment Information as required by Accounting Standards (AS) 17 on
"Segment Reporting" notified by Companies (Accounting Standards) Rules
2006 is not applicable as company is in the business of one segment
only.
5. Deferred Tax:
There is difference of about Rs. 1799723.09/- between depreciation as
per Companies Act. 1956 (Rs.4644382.82) and Depreciation as per Income
Tax Act. 1961 (Rs. 2844659.73). The Company has reduced the deferred
tax liabilities provided earlier by Rs. 556114/- and transferred the
same to Statement of Profit & Loss.
6. The balance of loans, advances, debtors, secured and unsecured
loans, creditors and bank balances and other items of the current
assets and liabilities are subject to confirmation/reconciliation.
7. The Company does not possess information as to which of its
suppliers are ancillary industrial undertakings/small scale industrial
undertakings holding permanent registration certificate issued by
directorate of Industries of a State of Union Territory. Consequently
the liability if any of interest which would be payable under "the
interest on Delayed payments to small Scale and Ancillary Industrial
Undertaking Act. 1993" cannot be ascertained. However the company has
not received any claims in respect of Interest.
Mar 31, 2013
1. Corporate Information
Funworld and Tourism Development Limited (The Company) is in amusement
and entertainment industry running an amuse- ment park at Rajkot since
1991. The share of the Company is registered on BSE.
2. Basis of Preparation
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The Financial statements have been prepared in
accordance with the notified Accounting Standards issued under
Companies (Accounting Standards) Rules, 2006 (as amended) and the
relevant provisions of the Companies Act, 1956. The financial statement
have been prepared under the historical cost convention on an accrual
basis. The accounting policies have been consistently applied by the
company and are consistent with those applied in previous year.
3 Related Parties Disclosure :
Related party disclosure is in accordance with the Accounting Standards
(AS) 18 on "Related Party Disclosure" notified by Companies (Accounting
Standards) Rules, 2006
A. Name of related parties and description of relationship :
a. Key Management Personnel: 1) Hitendrasinh Jadeja
2) Praveensinh Zala
b. Relative of Key Management personnel:
1) Sohansinh Jadeja
c. Enterprise Controlled by Key Management personnel or Relative of Key
Management Personnel: 1) Gujarat Amusements Funworld Ltd.
2) Harikrishan Associate
3) Sagun Services
4) S D Jadeja HUF
4 Segment Reporting :
Segment Information as required by Accounting Standards (AS) 17 on
"Segment Reporting" notified by Companies (Accounting Standards) Rules
2006 is not applicable as company is in the business of one segment
only.
5 Deferred Tax :
There is difference of about Rs. 1463471.45/- between depreciation as
per Companies Act. 1956 ( Rs.4697926.45) and Depreciation as per Income
Tax Act. 1961 ( Rs.3234455). The Company has reduced the deferred tax
liabilities provided earlier by Rs. 497434/- and transferred the same
to Statement of Profit & Loss.
6 The balance of loans, advances, debtors, secured and unsecured
loans, creditors and bank balances and other items of the current
assets and liabilities are subject to confirmation / reconciliation.
7 The Company does not possess information as to which of its
suppliers are ancillary industrial undertakings/small scale industrial
undertakings holding permanent registration certificate issued by
directorate of Industries of a State of Union Territory. Consequently
the liability if any of interest which would be payable under "the
interest on Delayed payments to small Scale and Ancillary Industrial
Undertaking Act. 1993" cannot be ascertained. However the company has
not received any claims in respect of Interest.
Mar 31, 2012
1. Corporate Information
Funworld and Tourism Development Limited (The Company) is in amusement
and entertainment industry running an amuse- ment park at Rajkot since
1991. The share of the Company is registered on BSE.
2. Basis of Preparation
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The Financial statements have been prepared in
accordance with the notified Accounting Standards issued under
Companies (Accounting Standards) Rules, 2006 (as amended) and the
relevant provisions of the Companies Act, 1956. The financial statement
have been prepared under the historical cost convention on an accrual
basis. The accounting policies have been consistently applied by the
company and are consistent with those applied in previous year.
3 Related Parties Disclosure:
Related party disclosure is in accordance with the Accounting Standards
(AS) 18 on "Related Party Disclosure" notified by Companies (Accounting
Standards) Rules, 2006
A. Name of related parties and description of relationship:
a. Key Management Personnel: 1) Hitendrasinh Jadeja
2) Praveensinh Zala
b. Enterprise controller by key management personnel:
1) Gujarat Amusements Funworld Ltd
B. Transaction during the year with related parties:
C. Related party relationship is as identified by Management and
related upon by Auditors'.
4 Segment Reporting:
Segment Information as required by Accounting Standards (AS) 17 on
"Segment Reporting" notified by Companies (Accounting Standards) Rules
2006 is not applicable as company is in the business of one segment
only.
5 Deferred Tax:
There is difference of about Rs.741339.75/- between depreciation as per
Companies Act. 1956( Rs.4395848.75) and Depreciation as per Income Tax
Act. 1961 ( Rs.3654509). The Company has reduced the deferred tax
liabilities provided earlier by Rs.251981/- and transferred the same to
Profit & Loss Account.
6 The balance of loans, advances, debtors, secured and unsecured
loans, creditors and bank balances and other items of the current
assets and liabilities are subject to confirmation / reconciliation.
7 According to the explanation given to us. Pursuant to resolution
passed at the meeting or the board of directors of the company held on
29th march. 1997 24,95,000 equity shares of Rs. 10/-each were forfeited
due to none payment of allotment money of Rs. 7.50 per share for which
15th August 1996 being the last date was fixed for the payment.
Application money of Rs. 2.50 each received on above forfeited shares
have been transferred to share capital account
8 The Company does not possess information as to which of its
suppliers are ancillary industrial undertakings/small scale industrial
undertakings holding permanent registration certificate issued by
directorate of Industries of a State of Union Territory. Consequently
the liability if any of interest which would be payable under "the
interest on Delayed payments to small Scale and Ancillary Industrial
Undertaking Act. 1993" cannot be ascertained. However the company has
not received any claims in respect of interest.
Mar 31, 2011
1. In the opinion of Board, all the items of current assets, loans and
advances have a value on the realization in the ordinary course of
business at least equal to amount at which they are stated.
2. Related Parties Disclosure:
Related party disclosure is in accordance with the Accounting Standards
(AS) 18 on "Related Party Disclosure" notified by Companies (Accounting
Standards) Rules, 2006
A. Name of related parties and description of relationship:
a. Key Management Personnel:
1) Hitendrasinh Jadeja
2) Praveensinh Zala
b. Enterprise controller by key management personnel:
1) Gujarat Amusement & Funworld Ltd.
3. Deferred Tax:
There is difference of about Rs.3,83,973/- between depreciation as per
Companies Act. 1956 (Rs. 3658470) and Depreciation as per Income Tax
Act. 1961 (Rs. 3274497). The Company has reduced the deferred tax
liabilities provided earlier by Rs. 130352/- and transferred the same
to Profit & Loss Account.
4. The balance of loans, advances, debtors, secured and unsecured
loans, creditors and bank balances and other items of the current
assets and liabilities are subject to confirmation / reconciliation.
5. There was no employee who if employed through out the year was in
receipt of remuneration in excess of Rs. 24.00,000/- p.a. or if
employed for a part of the year was in receipt of remuneration in
excess of Rs.2,00,000/- p.m.
6. The information required by Para 3 & 4 of Part II of Schedule VI to
the Companies Act 1956:-
a. Expenditure in Foreign Currency - Rs. Nil (Previous Year Rs. Nil)
b. Earning in Foreign Currency - Rs. Nil - (Previous year Rs. Nil)
c. Amount remitted during the year in foreign currency - Rs. Nil
(Previous Year Rs. Nil)
d. Previous year figures have been regrouped and re-arranged wherever
necessary so as to confirm to current year grouping.
e. The other clauses of the above referred para are not applicable.
7. No further information pursuant to paragraph 4C and 4D of the part
II of the Schedule VI of the Companies Act, 1956 is given, as the same
does not apply to the company.
8. CONTINGENT LIABILITIES NOT PROVIDED FOR IN REAPECT OF: Stamp duty
payable on lease agreement to be executed for the extended period is
unquantifiable, hence not provided.
9. According to the explanation given to us. Pursuant to resolution
passed at the meeting or the board of directors of the company held on
29th march. 1997 24,95,000 equity shares of Rs. 10/-each were forfeited
due to none payment of allotment money of Rs. 7.50 per share for which
15th August 1996 being the last date was fixed for the payment.
Application money of Rs. 2.50 each received on above forfeited shares
have been transferred to share capital account
10. The Company does not possess information as to which of its
suppliers are ancillary industrial undertakings/small scale industrial
undertakings holding permanent registration certificate issued by
directorate of Industries of a State of Union Territory. Consequently
the liability if any of interest which would be payable under "the
interest on Delayed payments to small Scale and Ancillary Industrial
Undertaking Act. 1993" cannot be ascertained. However the company has
not received any claims in respect of interest.
11. Balance Sheet abstract and company's general business profile as
per schedule VI Part
(IV) of the Companies Act.
Mar 31, 2010
1. in the opinion of Board, all the items of current assets, loans and
advances have a value on the realization in the ordinary course of
business at least equal to amount at which they are stated.
2. Related Parties Disclosure:
Related party disclosure is in accordance with the Accounting Standards
(AS) 18 on "Related Party Disclosure" notified by Companies (Accounting
Standards) Rules, 2006
A. Name of related parties and description of relationship:
a. Key Management Personnel: 1) Hitendrasinh Jadeja
2) Praveensinh Jhala
b. Enterprise controller by key management personnel:
1) Gujarat Amusement & Funworld Ltd.
C. Related party relationship is as identified by Management and
related upon by Auditors.
3. Segment Reporting :
Segment Information as required by Accounting Standards (AS) 17 on
"Segment Reporting" notified by Companies (Accounting Standards) Rules
2006 is not applicable as company is in the business of one segment
only.
4. Deferred Tax :
There is difference of about Rs. 12,30,866/- between depreciation as
per Companies Act. 1956 (Rs. 3343771) and Depreciation as per Income
Tax Act. 1961 (Rs. 2112905). The Company has reduced the deferred tax
liabilities provided earlier by Rs.414309/- and transferred the same to
Profit & Loss Account.
5. The balance of loans, advances, debtors, secured and unsecured
loans, creditors and bank balances and other items of the current
assets and liabilities are subject to confirmation / reconciliation.
6. There was no employee who if employed through out the year was in
receipt of remuneration in excess of Rs. 24.00,000/- p.a. or if
employed for a part of the year was in receipt of remuneration in
excess of Rs.2,00,000/- p.m.
7. Directors Remuneration - Rs. 2,16,000/- Previous Year- Rs.
2,16,000/-
8. The information required by para 3 & 4 of Part II of Schedule VI
to the Companies Act 1956:-
a. Expenditure in Foreign Currency - Rs. Nil (Previous Year Rs. Nil)
b. Earning in Foreign Currency - Rs. Nil - (Previous year Rs. Nil)
c. Amount remitted during the year in foreign currency - Rs. Nil (
Previous Year Rs. Nil)
d. Previous year figures have been regrouped and re-arranged wherever
necessary so as to confirm to current year grouping.
e. The other clauses of the above referred para are not applicable.
9. No further information pursuant to paragraph 4C and 4D of the part
II of the Schedule VI of the Companies Act, 1956 is given, as the same
does not apply to the company.
10. CONTINGENT LIABILITIES NOT PROVIDED FOR IN REAPECT OF:
Stamp duty payable on lease agreement to be executed for the extended
period is unquantifiable, hence not provided.
11. According to the explanation given to us. Pursuant to resolution
passed at the meeting or the board of directors of the company held on
29th march.1997 24,95,000 equity shares of Rs. 10/-each were forfeited
due to none payment of allotment money of Rs. 7.50 per share for which
15th August 1996 being the last date was fixed for the payment.
Application money of Rs. 2.50 each received on above forfeited shares
have been transferred to share capital account
12. The Company does not possess information as to which of its
suppliers are ancillary industrial undertakings/small scale industrial
undertakings holding permanent registration certificate issued by
directorate of Industries of a State of Union Territory. Consequently
the liability if any of interest which would be payable under "the
interest on Delayed payments to small Scale and Ancillary Industrial
Undertaking Act. 1993" cannot be ascertained. However the company has
not received any claims in respect of interest.
13. Balance Sheet abstract and companys general business profile as
per schedule VI Part (IV) of the Companies Act.
Mar 31, 2009
1. In the opinion of Board, all the items of current assets, loans and
advances have a value on the realization in the ordinary course of
business at least equal to amount at which they are stated.
2. Related Parties Disclosure:
Related party disclosure is in accordance with the Accounting Standards
(AS) I8 on "Related Party Disclosure" notified by Companies
(Accounting. Standards] Rules. 2006
A. Name of related parties and description of relationship: a. Key
Management Personnel: 1)Hitendrasinh Jadoja
3) Praveensinh, Zala
b. Enterprise controller by key management personnel;
1) Gujarat Amusement & Funworld Ltd
4 Segment Reporting:
Segment Information as required toy Accounting stanards (AS) 17 on
"Segment Reporting notified by Companies (Accounting Standards) Rules
2006 is not applicable as company is in the business of one segment
only.
5. Deferred Tax:
There is difference of about Rs. 13,77,390/- between depreciation as
per Companies Act. 1956. and Depreciation as per Income Tax Act 1961.
The Company has reduced the deferred tax liabilities provided earlierr
by Rs.463630/- and transferred the same to profit Loss Account
6. The balance of loans, advances, debtors, secured and unsecured
leans, creditors and bank: balances and other items of the current
assets and liabilities are subject to confirmation/ reconcilliation.
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