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Notes to Accounts of Golden Bull Research & Growth Ltd.

Mar 31, 2013

Basis of Preparation

The financial statements are prepared under the historical cost convention except for current assets.

Accrual basis of accounting has been adopted in preparation of the financial statements.

The financial statements are prepared under the Going concern convention of accounting.

The generally accepted accounting principles, Accounting Standards issued by the Institute of Chartered Accountants of India, as applicable, and the relevant provisions of the Companies Act, 1956 have been complied.

In preparing the financial statements in conformity with accounting principles generally accepted in India, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities as at the date of financial statements and the amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Any revision to such estimates is recognized in the period the same is determined.

As per information and explanation provided by the Management there are no outstanding dues of SSI undertakings as required by Schedule VI of the Companies Act, 1956 as amended by Notification No. GSR 129(E) dated 22.02.1999 issued by the Department of Company Affairs, Ministry of Law, Justice & Company Affairs.

The Company has no amount to be paid to Micro, Small and Medium Enterprises in accordance with provisions of Micro, Small & Medium Enterprises Development Act, 2006. Hence, disclosures, if any, relating to amounts unpaid as the year end together with interest paid / payable as required under the said Act have not been made. Corporate Information:

1. The Company is principally engaged in Trading in Retail items.

2. There has been no significance change in the nature of business during the period from 1st April, 2012 to 31st March, 2013.

3. The company was incorporated in India on 11th January, 1983. Under the Companies Act, 1956 (No. 1 of 1956) and the company registered in India having its registered office in India and under the jurisdiction of ROC Kolkata.

4. The Corporate Identity number is: L51226WB1983PLC035663.

5. The registered office of the company is located at 19, British India Street, 2nd Floor, Kolkata – 700 069, West Bengal.

Credit Risk

The group does not have any significant exposure to an individual customer nor does it have any major concentration of credit risk related to any financial institution.

The credit risk is managed by the Managing Director. Adequate care and control are taken to ascertain the credit worthiness of the consumers.

Non- Current Investment

Investments are stated at cost and are made made in its subsidiary companies amounting to Rs 17,00,000/- and in other unquoted Equity Shares amounting to Rs. 93,51,100.50/-.


Mar 31, 2012

Basis of Preparation

The financial statements are prepared under the historical cost convention except for current assets.

Accrual basis of accounting has been adopted in preparation of the financial statements.

The financial statements are prepared under the Going concern convention of accounting.

The generally accepted accounting principles, Accounting Standards issued by the Institute of Chartered Accountants of India, as applicable, and the relevant provisions of the Companies Act, 1956 have been complied.

In preparing the financial statements in conformity with accounting principles generally accepted in India, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities as at the date of financial statements and the amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Any revision to such estimates is recognized in the period the same is determined.

As per information and explanation provided by the Management there are no outstanding dues of SSI undertakings as required by Schedule VI of the Companies Act, 1956 as amended by Notification No. GSR 129(E) dated 22.02.1999 issued by the Department of Company Affairs, Ministry of Law, Justice & Company Affairs.

The Company has no amount to be paid to Micro, Small and Medium Enterprises in accordance with provisions of Micro, Small & Medium Enterprises Development Act, 2006. Hence, disclosures, if any, relating to amounts unpaid as the year end together with interest paid / payable as required under the said Act have not been made. Corporate Information:

1. The Company is principally engaged in Trading in Retail items.

2. There has been no significance change in the nature of business during the period from 1st April, 2012 to 31st March, 2012.

3. The company was incorporated in India on 11th January, 1983. Under the Companies Act, 1956 (No. 1 of 1956) and the company registered in India having its registered office in India and under the jurisdiction of ROC Kolkata.

4. The Corporate Identity number is: L51226WB1983PLC035663.

5. The registered office of the company is located at 19, British India Street, 2nd Floor, Kolkata – 700 069, West Bengal.

Credit Risk

The group does not have any significant exposure to an individual customer nor does it have any major concentration of credit risk related to any financial institution.

The credit risk is managed by the Managing Director. Adequate care and control are taken to ascertain the credit worthiness of the consumers.

Non- Current Investment

Investments are stated at cost and are made made in its subsidiary companies amounting to Rs 6,00,000/- and in other unquoted Equity Shares amounting to Rs. 10,64,100.50/-.


Mar 31, 2011

A) The provision of Provident Fund Act, ESI Act and Payment of Gratuity Act are not applicable to the company since the number of employees is less than those specified in the aforesaid Acts.

b) As identified from available information, there are no dues to small-scale Industrial undertakings, which require disclosure.

c) As the business activity falls within a single segment, the disclosure requirements of Accounting Standard 17 "Segment Reporting", issued by the Institute of Chartered Accountants of India, is not applicable.

d) Fixed Assets of the company has been fully depreciated and there is no realizable value of those assets.

e) Previous year figures have been regrouped or rearranged wherever necessary.

 
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