Home  »  Company  »  Gyan Developers  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Gyan Developers & Builders Ltd.

Mar 31, 2015

1. Previous years figures have been regrouped/ reclassified wherever necessary. Accordingly, amounts and other disclosure for the previous year are included as an integral part of the current year's financial statement and are to be read in relation to the amounts and other disclosures relating to the current year.

2. In the opinion of the Board, loans and advances are approximately of the value stated, if realized in the ordinary course of business.

3. The outstanding amount in respect of loans and advances, current liabilities, advance to land owners and payments received from customers are based on external confirmations.

4. Amounts due to Micro, Small & Medium Enterprises is Rs. NIL as at 31.03.2015 (Previous year Rs.NIL).

5. In the opinion of the Board there is no contingent liability of the company.

6. No provision has been made for gratuity liability for the period as the payment of Gratuity Act is not applicable.

7. Related Party Disclosures: Key managerial personnel :

Mr. T. Ashok Raj (Managing Director)

Mrs M Sunita (Director & CFO)

Mr. S. Vijayan (NEI Director)

Mr. J. Chandra Sekar (NEI Director)

Relatives to Key Managerial Personnel :

Mr. P. Tarachand Jain - Father of Managing Director

Mr. T. Mahendar Raj - Brother of Managing Director

T. Ashok Raj HUF - Managing Director is Karta

A. Sumitha - Wife of Managing Director

8. Deferred Tax:

The Company has provided deferred tax in accordance with the Accounting Standard – 22 (Accounting for taxes on Income) issued by the Institute of Chartered Accountants of India applicable with effect from 1-4-2002.

9. Segment Reporting:

The company is engaged in the business of Construction / Real Estate Activity which is the only significant Business Segment and hence Segment reporting is not considered necessary.

10. Earnings per Share:

Basic and Diluted Earnings per share (as per AS 20 issued by the Institute of Chartered Accountant of India) :

Net Profit for the year (after tax) Rs.1,338,835.22/-

Weighted Average no. of Equity Shares 30,00,000

Nominal value of Shares 10/-

Basic and Diluted EPS Rs.0.45/-

11. Balance of current assets, loans and advance are as per Books are subject to confirmation. In the opinion of management, these are realizable approximately at the value stated in the ordinary course of the business.

12. Figures in bracket represent previous year's figures.


Mar 31, 2014

Note 1 : Rights, preference and restriction attached to shares

The company has only one class of shares referred to as equity shares having a per value of Rs.10/-. Each holder of equity shares is entitled to vote per share. In the event of liquidation of the company, the holder of equity share will be entitled to receive remaining assets of the company after distribution of all preferential amounts, in proportional to their shareholding.

1. Previous years figures have been regrouped/ reclassified wherever necessary. Accordingly, amounts and other disclosure for the previous year are included as an integral part of the current year''s financial statement and are to be read in relation to the amounts and other disclosures relating to the current year.

2. In the opinion of the Board, loans and advances are approximately of the value stated, if realized in the ordinary course of business.

3. The outstanding amount in respect of loans and advances, current liabilities, advance to land owners and payments received from customers are based on external confirmations.

4. Amounts due to Micro, Small & Medium Enterprises is Rs. NIL as at 31.03.2014 (Previous year Rs.NIL).

5. In the opinion of the Board there is no contingent liability of the company.

6. No provision has been made for gratuity liability for the period as the payment of Gratuity Act is not applicable.

7. Related Party Disclosures:

Key managerial personnel :

Mr. T Ashok Raj (Managing Director)

Mrs M Sunita (Director)

Mr. S. Vijayan (NEI Director)

Mr. J. Chandra Sekar (NEI Director)

Relatives to Key Managerial Personnel :

Mr. P. Tarachand Jain - Father of Managing Director

Mr. T. Mahendar Raj - Brother of Managing Director

T Ashok Raj HUF - Managing Director is Karta

A. Sumitha - Wife of Managing Director

8. Deferred Tax:

The Company has provided deferred tax in accordance with the Accounting Standard - 22 (Accounting for taxes on Income) issued by the Institute of Chartered Accountants of India applicable with effect from 1-4-2002.

9. Segment Reporting:

The company is engaged in the business of Construction / Real Estate Activity which is the only significant Business Segment and hence Segment reporting is not considered necessary.

10. Balance of current assets, loans and advance are as per Books are subject to confirmation. In the opinion of management, these are realizable approximately at the value stated in the ordinary course of the business.

11. Figures in bracket represent previous year''s figures.


Mar 31, 2013

1. Previous year''s figures have been regrouped/ reclassified wherever necessary. Accordingly, amounts and other disclosure for the previous year are included as an integral part of the current year''s financial statement and are to be read in relation to the amounts and other disclosures relating to the current year.

2. In the opinion of the Board, loans and advances are approximately of the value stated, if realized in the ordinary course of business.

3. The outstanding amount in respect of loans and advances, current liabilities, advance to land owners and payments received from customers are subject to confirmations.

4. Amounts due to Micro, Small & Medium Enterprises is Rs. NIL as at 31,03.2013 (Previous year Rs.NIL).

5. In the opinion of the Board there is no contingent liability of the company.

6. No provision has been made for gratuity liability for the period as the payment of Gratuity Act is not applicable.

7. Related Party Disclosures:

Key managerial personnel :

Mr. T. Ashok Raj (Managing Director)

Mrs M Sunita (Director)

Mr. S. Vijayan (NEI Director)

Mr. J. Chandra Sekar (NEI Director)

Relatives to Key Managerial Personnel :

Mr. P. Tarachand Jain - Father of Managing Director Mr. T. Mahendar Raj - Brother of Managing Director

T. Ashok Raj HUF - Managing Director is Karta

A. Sumitha - Wife of Managing Director

8. Deferred Tax:

The Company has provided deferred tax in accordance with the Accounting Standard - 22 (Accounting for taxes on Income) issued by the Institute of Chartered Accountants of India applicable with effect from 1 -4-2002.

9. Segment Reporting:

The company is engaged in the business of Construction / Real Estate Activity which is the only significant Business Segment and hence Segment reporting is not considered necessary.

10. Balance of current assets, loans and advance are as per Books are subject to confirmation. In the opinion of management, these are realizable approximately at the value stated in the ordinary course of the business.

11. Figures in bracket represent previous year''s figures.


Mar 31, 2012

1a. Post Employment Benefits

(1) Defined Contribution Plans

No provision has been made for Provident Fund and other Superannuation benefits as the respective Acts are not applicable to the company.

(2) Defined Benefit Plans

No provision has been made for Gratuity liability for the period as the respective Acts are not applicable to the company.

b. Earning Per Share:

The earning considered in ascertaining the Company's earning Per Share ('EPS') comprise the net profit after tax. The number of shares used in computing basic EPS is the weighted average number of shares outstanding during the year. The diluted EPS is calculated on the same basis as basic EPS' after adjusting for the effects of potential dilutive equity shares unless impact is anti dilutive.

c. Provisions and Contingent Liabilities:

Provisions are recognized when the company has a present obligation as a result of past event; it is more likely than not that an outflow of resources will be required to settle the obligation' in respect of which a reliable estimate can be made based on technical evaluation arid past experience. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. Contingent Liabilities are not provided for in the accounts and are disclosed by way of Notes.

b. Cash Flow Statement: -

Cash Flow Statement has been prepared under indirect method' as prescribed in Accounting Standard 3 issued by The Institute of Chartered Accountants of India. Cash and Cash Equivalents compr-ise Cash on Hand' current and other accounts held with Banks.

1. Previous years figures have been regrouped/ reclassified wherever necessary. Accordingly' amounts and other disclosure for the previous year are included as an integral pan. of the current year's financial statement and are to be read in relation to the amounts and other disclosures relating to the current year.

2. In thn opinion of the Board' loans and advances are approximately of the value stated' if realized in th 3 ordinary course of business.

3. The outstanding amount in respect of loans and advances' current liabilities' advance to land owners and payments received from customers are subject to confirmations.

4. Amounts due to Micro' Small & Medium Enterprises is Rs. NIL as at 31.03.2012 (Previous year Rs.ML).

5. In th 3 opinion of the Board there is no contingent liability of the company.

6. No r. rovision has been made for gratuity liability for the period as the payment of Gratui :y Act is not applicable.

B. Deferred Tax:

Trvs Company has provided deferred tax in accordance with the Accounting Standard - 22 (Accounting for taxes on Income) issued by the Institute of Chartered Accountants of India applicable with effect from 1-4-2002.

7. Segment Reporting:

The company is engaged in the business of Construction / Real Estate Activity which is the only significant Business Segment and hence Segment reporting is not considered necessary.

8. Balance of current assets' loans and advance are as per Books are subject to confirmation. In the opinion of management' these are realizable approximately at the value stated in the ordinary course of the business.

9. Figures in bracket represent previous year's figures.


Mar 31, 2011

1. Previous years figures have been regrouped/ reclassified wherever necessary. Accordingly, amounts and other disclosure for the previous year are included as an integral part of the current year's financial statement and are to be read in relation to the amounts and other disclosures relating to the current year

2. In the opinion of the Board, loans and advances are approximately of the value stated, if realized in the ordinary course of business.

3. The outstanding amount in respect of loans and advances, current liabilities, sundry debtors, advance to land owners and payments received from customers are subject to confirmations.

4. Amounts due to Small Scale Industrial Undertakings is Rs. NIL as at 31.03.2011 (Previous year Rs.NIL).

5. In the opinion of the Board there is no contingent liability of the company.

6. No provision has been made for gratuity liability for the period as the payment of Gratuity Act is not applicable.

7. Related Party Disclosures: Key managerial personnel :

Mr. T. Ashok Raj (Managing Director)

Mrs. T. Kamala Devi ( Director)

Mrs M Sunitha (Director)

Mr. N. Gajraj (NEI Director)

Mr. S. Vijayan (NEI Director)

Mr. J. Chandra Sekar (NEI Director, w e f: 27.06.2009)

Relatives to Key Managerial Personnel :

Mr. P. Tarachand Jain - Father of Managing Director

Mr, T. Mahendar Raj - Brother of Managing Director

T. Ashok Raj HUF - Managing Director is Karta

A. Sumitha - Wife of Managing Director

8. Deferred Tax:

The Company has provided deferred tax in accordance with the Accounting Standard - 22 (Accounting for taxes on Income) issued by the Institute of Chartered Accountants of India applicable with effect from 1-4-2002.

9. Segment Reporting:

The company is engaged in the business of Construction / Real Estate Activity which is the only significant Business Segment and hence Segment reporting is not considered necessary.

10. Balance of current assets, loans and advance are as per Books are subject to confirmation. In the opinion of management, these are realizable approximately at the value stated in the ordinary course of the business.

11. Figures in bracket represent previous year's figures.


Mar 31, 2010

1. Previous years figures have been regrouped/ reclassified wherever necessary. Accordingly, amounts and other disclosure for the previous year are included as an integral part of the current years financial statement and are to be read in relation to the amounts and other disclosures relating to the current year.

2. In the opinion of the Board, loans and advances are approximately of the value stated, if realized in the ordinary course of business.

3. The outstanding amount in respect of loans and advances, current liabilities, sundry debtors, advance to land owners and payments received from customers are subject to confirmations.

4. Amounts due to Small Scale Industrial Undertakings is Rs. NIL as at 31.03.2010 (Previous year Rs.NIL).

5. In the opinion of the Board there is no contingent liability of the company.

6. No provision has been made for gratuity liability for the period as the payment of Gratuity Act is not applicable.

7. Related Party Disclosures: Key managerial personnel :

Mr. T. Ashok Raj (Managing Director)

Mrs. T. Kamala Devi ( Director)

Mrs M Sunitha (Director)

Mr. N. Gajraj (NEI Director)

Mr. S. Vijayan (NEI Director)

Mr. J. Chandra Sekar (NEI Director, w e f:27.06.2009)

Relatives to Key Managerial Personnel :

Mr. R Tarachand Jain - Father of Managing Director

Mr. T. Mahendar Raj - Brother of Managing Director

T. Ashok Raj HUF - Managing Director is Karta

A. Sumitha - Wife of Managing Director

Related Party Transactions:

The following transactions are carried out with the related parties in the ordinary course of business :

Current Year Previous Year

1. Directors Remuneration

- Mr. T. Ashok Raj Rs. 1,80,000/- Rs. 1,64,449/-

2. Rent

- Mrs. A. Sumitha Rs. 114,000/- Rs.114.000/-

8. Deferred Tax:

The Company has provided deferred tax in accordance with the Accounting Standard - 22 (Accounting for taxes on Income) issued by the Institute of Chartered Accountants of India applicable with effect from 1-4-2002.

9. Segment Reporting:

The company is engaged in the business of Construction / Real Estate Activity which is the only significant Business Segment and hence Segment reporting is not considered necessary.

10. Earnings per Share:

Basic and Diluted Earnings per share (as per AS 20 issued by the Institute of Chartered Accountant of India) :

Net Profit for the year (after tax) Rs.28t ,268/-

Weighted Average no. of Equity Shares 3000000

Nominal value of Shares 10/-

Basic and Diluted EPS Rs.0.094/-

11. Balance of current assets, loans and advance are as per Books are subject to confirmation. In the opinion of management, these are realizable approximately at the value stated in the ordinary course of the business.

12. Provision of Rs. NIL (previous year Rs.5,764/-) towards Fringe Benefit Tax (FBT) as Tax payable under section 115W of the Income Tax Act,1961 has been made for the current year.

13. Work in progress of Rs.1,694,696.45/- {previous year Rs. NIL) is transferred to inventory account.

14. BSE Revocation Charges of Rs.360,000/- (previous year Rs. NIL) denotes re-instatement charges paid to BSE for revocation of suspension in trading of equity shares.

15. Figures in bracket represent previous years figures.

 
Subscribe now to get personal finance updates in your inbox!