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Notes to Accounts of Hind Securities & Credits Ltd.

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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