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Notes to Accounts of Grandma Trading & Agencies Ltd.

Mar 31, 2016

1. MICRO, SMALL & MEDIUM ENTERPRISES

There was no amount due as on March 31, 2016 as reported to us from/to Micro, small & Medium Enterprises as per Micro, Small and Medium Enterprises Development Act, 2006.

2. CASH & CASH EQUIVALENT:

Cash and cash equivalent includes cash on hand, and deposits maintained with banks which can be withdrawn by the company at any point of time.

3. EARNING PER SHARE (EPS):

Basic and Diluted EPS as per Accounting Standard 20 is Rs.0.01 (Previous year Rs.0.01).

4. CONTINGENT LIABILITIES: NIL

5. RELATED PARTIES DISCLOSURE:

There are following transaction as reported with any key managerial persons and with any of the Enterprises owned and controlled by Key management persons.

6. The Balance reflected under the head Sundry Debtors, Loans & Advances, Deposits and Sundry Creditors are subject to confirmation.

7. Foreign Exchange earnings NIL Foreign Exchange expenditure NIL

8. As per management''s view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

9. Previous year''s figures have been rearranged and regrouped wherever necessary.


Mar 31, 2015

1. GENERAL:

a) Financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956.

b) Financial Statements are prepared on historical cost basis and in consonance with the Generally Accepted Accounting Principles.

c) Till the standards of accounting or any addendum thereto are prescribed by the Central Government in consultation and recommendation of the National Financial Reporting Authority, the Company will continue to apply the accounting standards and polices as stated above.

d) The accounting policies, in all respect have been consistently applied by the Company and are consistent with those used in the previous year, except to the extent stated in Note 2 below.

1. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

2. MICRO, SMALL & MEDIUM ENTERPRISES:

There was no amount due as on March 31,2014 as reported to us from/to Micro, small & Medium Enterprises as per Micro, Small and Medium Enterprises Development Act, 2006.

3. CASH & CASH EQUIVALENT:

Cash and cash equivalent includes cash on hand and deposits maintained with banks which can be withdrawn by the company at any point of time.

4. PAYMENT TO DIRECTORS:

During the year no payment was made to the directors of the Company except for the remuneration paid to the Managing Director of the Company.

5. EARNING PER SHARE (EPS):

Basic and Diluted EPS as per Accounting Standard 20 is Rs.0.12 (Previous year Rs.0.48).

7. CONTINGENT LIABILITIES: NIL

8. RELATED PARTIES DISCLOSURE:

There are following transaction as reported with any key management persons and with any of the Enterprises owned and controlled by Key management persons.

9. The Balance reflected under the head Sundry Debtors, Loans & Advances, Deposits and Sundry Creditors are subject to confirmation.

10. Foreign Exchange earnings NIL

Foreign Exchange expenditure NIL

11. As per management's view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

12. Previous year's figures have been rearranged and regrouped wherever necessary.


Mar 31, 2014

1. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

2. MICRO, SMALL & MEDIUM ENTERPRISES

There was no amount due as on March 31, 2014 as reported to us from/to Micro, small & Medium Enterprises as per Micro, Small and Medium Enterprises Development Act, 2006.

3. CASH & CASH EQUIVALENT:

Cash and cash equivalent includes cash on hand, and deposits maintained with banks which can be withdrawn by the company at any point of time.

4. PAYMENT TO DIRECTORS:

During the year no payment was made to the directors of the Company except for the remuneration paid to the Managing Director of the Company.

5. EARNING PER SHARE (EPS):

Basic and Diluted EPS as per Accounting Standard 20 is Rs.0.12 (Previous year Rs.0.48).

6. AUDITOR''S REMUNERATION:

AUDITOR''S REMUNERATION 2013-14 2012-13

Statutory Audit Fees 22,472.00 22,472.00

Total 22,472.00 22,472.00

7. CONTINGENT LIABILITIES: NIL

8. RELATED PARTIES DISCLOSURE:

There are following transaction as reported with any key management persons and with any of the Enterprises owned and controlled by Key management persons.

Nature of Relationship Name

i. Key Management Person Mr. Mahavir Jain

Current Year Previous Year

ii. Remuneration to Key Managerial Person 180,000.00 117,000.00

9. The Balance reflected under the head Sundry Debtors, Loans & Advances, Deposits and Sundry Creditors are subject to confirmation.

10. Foreign Exchange earnings NIL NIL

Foreign Exchange expenditure NIL NIL

11. As per management''s view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

12. Previous year''s figures have been rearranged and regrouped wherever necessary.


Mar 31, 2013

1. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

2. There was no amount due as on March 31, 2013 as reported to us from/to Micro, small & Medium Enterprises as per Micro, Small and Medium Enterprises Development Act, 2006.

3. PAYMENT TO DIRECTORS:

During the year no payment were made to the director

4. EARNING PER SHARE (EPS):

Basic and Diluted EPS as per Accounting Standard 20 is Rs.0.48 (Previous year Rs.0.06).

5. CONTINGENT LIABILITIES: NIL

6. RELATED PARTIES DISCLOSURE:

There are following transaction as reported with any key management persons and with any of the Enterprises owned and controlled by Key management persons.

7. The Balance reflected under the head Sundry Debtors, Loans & Advances, Deposits and Sundry Creditors are subject to confirmation.

8. Foreign Exchange earnings NIL NIL Foreign Exchange expenditure NIL NIL

9. As per management''s view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

10. Previous year’s figures have been rearranged and regrouped wherever necessary.


Mar 31, 2012

1. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

2. There was no amount due as on March 31, 2012 as reported to us from/to Micro, small & Medium Enterprises as per Micro, Small and Medium Enterprises Development Act, 2006.

3. EARNING PER SHARE (EPS):

Basic and Diluted EPS as per Accounting Standard 20 is Rs.0.06 (Previous year Rs.0.36).

4. CONTINGENT LIABILITIES: NIL

5. RELATED PARTIES DISCLOSURE: NIL

6. The Balance reflected under the head Sundry Debtors, Loans & Advances, Deposits and Sundry Creditors are subject to confirmation.

7. Foreign Exchange earnings NIL NIL Foreign Exchange expenditure NIL NIL

8. As per management's view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

9. Previous year's figures have been rearranged and regrouped wherever necessary.

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