Mar 31, 2015
Presentation and disclosure of financial statements
During the year ended 31stMarch 2015, the revised Schedule III notified
under the Companies Act 2013, has become applicable to the company, for
preparation and presentation of its financial statements. The adoption
of revised Schedule III does not impact on recognition and measurement
principles followed for preparation of financial statements. However,
it has significant impact on presentation and disclosures made in the
financial statements. The company has also reclassified the previous
year figures in accordance with the requirements applicable in the
current year.
1. (a) The number of employee employed throughout the year, who were
in receipt of or were entitled to receive remuneration aggregating to
Rs.60,00,000/- (Rupees Sixty Lacs only) or more per annum were Nil.
(b) The number of employees for part of the according relevant period
who were in receipt of or were entitled to receive remuneration
aggregating to Rs.5,00,000/- (Five Lacs only) or more per month were
Nil.
2. In the opinion of the Board, the Current Assets, Loans & Advances
are approximately of value stated in the ordinary course of business.
3. Deferred Tax Liability/Assets Provision for Deferred Tax Assets has
been made in the books of account in accordance with Accounting
Standard-22 (Accounting for Taxes on Income) referred to in sub section
(11) of section 143 of the Companies Act, 2013.The Deferred Tax for the
year ending 31.03.2015 amounting to Rs.30, 77,362 has been debited (P.Y
10, 49,030 has been debited) to Profit & Loss Account. The Deferred Tax
Asset does not arises due to timing difference on account of Losses
incurred during the year. Total Deferred Tax Assets as on 31.03.2015 of
Rs. Nil (P.Y 30, 77,362) which has been shown in the Balance Sheet.
4. Micro, Small and Medium Enterprises
The company has not received any information from its suppliers about
the applicability of Micro, Small & Medium enterprises Development Act,
2006 on them. Hence the particulars regarding Micro, Small & Medium
enterprises & other disclosures, if any , relating to amounts unpaid as
on 31.03.2015 together with interest paid/payable as required under
Micro, Small & Medium enterprises Development Act, 2006 is not given.
5. The Company has under the procedure of being Listed under Bombay
Stock Exchange during the Year.
6. Some of the Debtors, creditors, advances & loan are subject to
confirmation/reconciliation.
7. Figures for the previous year are re-grouped or re-arranged to make
it more comparable with the current year's figures.
Mar 31, 2014
1. Accounting Convention
The company has prepared these financial statements to comply in all
material respects with the accounting standards notified under the
Companies (Accounting Standards) Rules, 2006, (as amended) and the
relevant provisions of the Companies Act, 1956. The financial
statements have been prepared on an accrual basis and under the
historical cost convention. The accounting policies adopted in the
preparation of financial statements are consistent with those of
previous year, except for the change in accounting policy explained
below.
2. Presentation and disclosure of financial statements
During the year ended 31st March 2014, the revised Schedule VI notified
under the Companies Act 1956, has become applicable to the company, for
preparation and presentation of its financial statements. The adoption
of revised Schedule VI does not impact on recognition and measurement
principles followed for preparation of financial statements. However,
it has significant impact on presentation and disclosures made in the
financial statements. The company has also reclassified the previous
year figures in accordance with the requirements applicable in the
current year.
3. (a) The number of employee employed throughout the year, who were
in receipt of or were entitled to receive remuneration aggregating to
Rs.60,00,000/- (Rupees Sixty Lacs only) or more per annum were Nil.
(b) The number of employees for part of the according relevant period
who were in receipt of or were entitled to receive remuneration
aggregating to Rs.5,00,000/- (Five Lacs only) or more per month were
Nil.
4. In the opinion of the Board, the Current Assets, Loans & Advances
are approximately of value stated in the ordinary course of business.
5. Deferred Tax Liability/Assets
Provision for Deferred Tax Assets has been made in the books of account
in accordance with Accounting Standard-22 (Accounting for Taxes on
Income) referred to in sub-section (3C) of section 211 of the Companies
Act, 1956. The Deferred Tax for the year ending 31.03.2014 amounting to
Rs.10,49,030 has been debited (P.Y 5,69,617 has been credited) to
Profit & Loss Account. The Deferred Tax Asset arises due to timing
difference on account of Losses incurred during the year. Total
Deferred Tax Assets as on 31.03.2014 of Rs. 30,77,362 ( P.Y 41,26,392)
which has been shown in the Balance Sheet.
6. There is no transaction involving Foreign Exchange during the year.
7. Micro, Small and Medium Enterprises
The company has not received any information from its suppliers about
the applicability of Micro, Small & Medium enterprises Development Act,
2006 on them. Hence the particulars regarding Micro, Small & Medium
enterprises & other disclosures, if any , relating to amounts unpaid as
on 31.03.2014 together with interest paid/ payable as required under
Micro, Small & Medium enterprises Development Act, 2006 is not given.
8. Some of the Debtors, creditors, advances & loan are subject to
confirmation/reconciliation.
9. Figures for the previous year are re-grouped or re-arranged to make
it more comparable with the current year''s figures.
Mar 31, 2011
1. a) The number of employee employed throughout the year, who were in
receipt of or were entitled to receive remuneration aggregating, to
Rs.60,00,000/-(Rupees Sixty Lacs only) or more per annum were Nil.
b) The number of employees for part of the according relevant period
who were in receipt of or were entitled to receive remuneration
aggregating to Rs.5,00,000/- (Five Lacs only) or more per month
were Nil.
2. In the opinion of the Board, the Current Assets, Loans & Advances
are approximately of value stated in the ordinary course of business.
3. Deferred Tax Liability/Assets
No provision for Deferred Tax has been made in the books.
4. Information given by the Directors in accordance with the
provisions of Part 11 of Schedule VI of the Companies Act, 1956 is
given below ;
a) There is no licensing applicable.
b) There is no transaction involving Foreign Exchange.
7. The Company is required to employ a full time Company Secretary as
required under section 383A of the Companies Act, 1956. However Company
has not employed the same and is in the process of employing a full
time Company Secretary
8. Micro, Small and Medium Enterprises
The company has not received any information from its suppliers about
the applicability of Micro, Small & Medium enterprises Development Act,
2006 on them. Hence the particulars regarding Micro, Small & Medium
enterprises & other disclosures, if any , relating to amounts unpaid as
on 31.03.2011 together with interest paid/payable as required under
Micro, Small & Medium enterprises Development Act, 2006 is not given.
9. The Company has applied for Revocation of Suspension in trading of
Securities of its Shares under Amnesty Scheme as announced by Delhi
Stock Exchange Limited.
11. Some of the Debtors, creditors, advances & loans are subject to
confirmation/reconciliation.
12. Figures for the previous year are re-grouped or re-arranged to
make it more comparable with the current year''s figures.
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