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Green Field Agri Ventures Ltd. Notes to Accounts, Green Field Agri Ventures Ltd. Company
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Notes to Accounts of Green Field Agri Ventures Ltd.

Mar 31, 2015

1. Company Overview

Green Field Agri Ventures Limited a technology-enabled IT solutions company, foreseeing future needs & exigencies, delivering excellent products of high quality and reliability with unflinching commitment and having emphatic global marketpresence. Green Field specialized in agri related software and hardware solutions, with proven reputation for delivering high quality solutions to a broad spectrum of industry verticals.

2. Contingent Liabilities:Nil

3. Dues to micro and small-scale industrial undertakings

As at March 31, 2015 as per available information with the company, there are no dues to small scale Industrial Undertakings.

4. Particulars of Employees required in pursuant to the provisions of Section 197(12) of the Companies Act, 2013, read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014- Nil.

5. Financial figures have been rounded off to nearest rupee.

6. Previous year figures have been regrouped wherever if thought necessary in conformity with the current year groupings. Paise have been rounded off to the nearest rupee.


Mar 31, 2014

1. Contingent Liabilities: Nil

2. The Company has no Subsidiaries.

3. Directors Remuneration: Nil

4. The Company''s Loans and Advance are other than Hire Purchase Advances.

5. Auditors Remuneration : Rs. 75,000/- (Last Year: Rs. 50,000/-)

6. Earnings per share:

In determining earnings per share, the company considers the net profit after tax and includes the past tax effect of any extraordinary/exceptional item.

Particulars Amounts in Rupees

31.03.2014 31.03.2013

Weighted average number of shares outstanding 47,85,500 47,85,500

Face value of equity shares 10 10

Net Profit after tax 46,87,371 11,56,968

Earnings per share 0.98 0.25

7. Foreign Exchange earned and outgo Earnings: FOB Value of Exports : Rs. 4,76,76,852/-

Out Go:

Expenditure in Foreign Currency : Rs. 20,45,937/-

8. Dues to micro and small-scale industrial undertakings

As at March 31, 2014 as per available information with the company, there are no dues to small scale Industrial Undertakings.

9. Related party transactions:

As per AS-18 issued by The Institute of Chartered Accountants of India, the disclosures of transactions with the related parties as defined in the Accounting Standard are NIL.

10. There were no employees in respect of remuneration of Rs. 24,00 ,000/- or more per annum or Rs. 2,00,000/- or more per month, if employed for part of the year.

11. Additional information pursuant paragraphs 3, 4C and 4D of part II of schedule of VI of the companies Act, 1956 is not applicable to the Company.

12. Financial figures have been rounded off to nearest rupee.


Mar 31, 2013

1. Contingent Liabilities: NIL

2. Dues to micro & small-scale industrial undertakings: As at March 31, 2013 as per available information with the company, there are no dues to small scale industrial undertakings.

3. Additional Information pursuant to the provisions of Paragraph 3, 4C and 4D of part II of schedule VI to the Companies Act is not applicable to the Company and nature of its business.

4. Directors Remuneration: Rs.12,00,000/- (Last Year: Rs.6,00,000/-)

5. Foreign Exchange earned and outgo Based on CIF basis

Net Exports: Rs. Nil

Imports: Rs. Nil (Last Year: Nil)

6. Segmental reporting:

The segmental reporting disclosure as required under Accounting Standard- 17 is not required since there are no reportable business and geographical segments.

7. Auditors remuneration :Rs.50,000/-(Last Year: Rs. 2,00,000/-)

8. Taxes

9. Confirmation of balances has not been received from some of the Creditors, Debtors and for Loans & Advances, which are subject to reconciliation. Provision for doubtful debts, if any, in respect of the above and the consequential adjustment, if any, whether of revenue nature or otherwise, will be dealt accordingly.

10. In determining earnings per share, the company considers the net profit after tax and includes the past tax effect of any extraordinary/exceptional item.

11. Forfeiture of Shares: During the year, the company has forfeited 35, 29, 000 Equity Shares of face value of Rs. 10 /- each and these forfeited shares are not issued back by the company during the year 2012-13. The forfeited amount of Rs. 2.5/- on each forfeited shares totaling of Rs. 88, 22, 500/- is transferred to Capital reserve account of the company.

12. Previous year’s figures have been regrouped, rearranged and reclassified, wherever necessary to match with the current year’s figures.

13. Paise have been rounded off to the nearest rupee.

14. Notes 1 to 30 form part of Balance Sheet and Profit and Loss account have been authenticated.

This is the Cash Flow Statement referred in our report of even date.


Mar 31, 2011

Basis and presentation of financial statements disclosure

BASIS OF ACCOUNTING: The financial statements have been prepared by following the going concern concept on historical cost convention on an accrual basis and comply with the Accounting Standards issued by the Institute of Chartered Accountants of India and referred in Section 211(3C) of the Companies Act, 1956, of India (the "Act").

Disclosure of departure from accounting principle of accrual

Previous year's figures have been regrouped, rearranged and reclassified, wherever necessary to match with the current year's figures. 12. Paise have been rounded off to the nearest rupee. 13. Schedules 1 to 9 form part of Balance Sheet and Profit and Loss account have been authenticated.

Foreign currency transactions policies

1. FOREIGN EXCHANGE TRANSACTIONS: Transactions in foreign currencies are translated at the exchange rates prevailing on dates of transactions on case of purchases of materials; sale of goods and services rendered the exchange gains/losses on settlements during the year, are treated as expenditure and transferred to profit and loss account.

Earnings per share policy

In determining earnings per share, the company considers the net profit after tax and includes the past tax effect of any extraordinary/exceptional item. ParticularsAmount in Rupees 31.03.201131.032010 Weighted average number of shares outstanding 5,124,575 50,00,075 Face value of equity shares1010 Net Profit after tax 578,326 5,28,515 Earnings per share 0.11 0.11

2. In determining earnings per share, the company considers the net profit after tax and includes the past tax effect of any extraordinary/exceptional item.

1. Dues to micro & small-scale industrial undertakings: As at March 31, 2011 as per available information with the company, there are no dues to small scale industrial undertakings.

CASH FLOW STATEMENT

Cash flows are reported using the indirect method, whereby net profit before tax is adjusted for the effects of transactions of a non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from regular revenue generating, investing and financing activities of the company are segregated.

Disclosure of amount due to micro medium and small enterprises [text block]

Dues to micro & small-scale industrial undertakings: As at March 31, 2011 as per available information with the company, there are no dues to small scale industrial undertakings.

Disclosure of directors and remuneration to directors [text block]

Directors Remuneration: Rs.4,50,000/- (Last Year: Nil)


Mar 31, 2010

1. Contingent Liabilities : Nil

2. Segmental reporting :

The segmental reporting disclosure as required under Accounting Standard-17 is not required since there are no reportable business and geographical segments.

3. Related party disclosure: No related party transactions during the year.

4. In determining earnings per share, the company considers the net profit after tax and includes the past tax effect of any extraordinary/exceptional item.

5. The company has provided deferred tax liability recognised in accordance with Accounting Standard interpretation issued by the Institute of Chartered Accountants of India.

6. Previous year figures have been regrouped / rearranged wherever necessary in order to conform to the Current year's presentation.


Mar 31, 2009

1. Previous year's figures and heads of accounts have been regrouped/rearranged wherever necessary.

2. Debit & Credit balances are subject to confirmation/

3. The classification of Debtors and Loans is made by the Company. The company has not made provision for Bad debts of Debtors/ loans advances for doubtful recovery amounting to Rs. 93.90 Lacs.

4. Provision for gratuity has not been made, as no employee has put in the service of qualifying period of entitlement of this benefit.

5. Due to non availability of adequate profits, brought forward public issue expenses (deferred revenue) have not been written off during the year amounting to Rs. 4.34 Lacs.

6. Pursuant to AS-18 the name, relationship and particulars of transactions with related parties during the year is as under :

The Following transactions were carried with the related party in the ordinary course of business

a) Subsidiary Companies.

Joint Venture and Associates: -NIL-

b) Interested companies -NIL- Related Company :

7. Information in pursuant to para 3 & 4 of part II of Schedule VI to the Companies Act. 1956 (to the extent applicable to the Company): Not applicable as the company Is not engaged in manufacturing and/ or retail business during the year

8 The company had advanced money towards construction of building amounting to Rs 2.75 Crores.

9. The company had undertaken a review of the old outstanding balances during the year and it has settled some of the credit balances against the debit balances in some of the accounts. The result of such netting did not have any impact on the Profit or Loss of the company.

The Company during the year was engaged in the business of development & maintenance of computer software and other related services. The production

 
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