Home  »  Company  »  Hind. Appliances  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Hindustan Appliances Ltd.

Mar 31, 2014

1. Companies Overview;

Hindustan Appliances Limited (the company) is a public Limited company incorporated under the provisions of the companies Act, 1956 vide CIN: L18101MH1984PLC034857

2. Provision for accruing of liabilities for gratuity in terms of Accounting Standard 15 [AS-15 (revised 2005)] "Accounting for Employee Benefits" issued by The Institute of Chartered Accounts of India has not been made in the accounts. The figure of which is not ascertainable. However same is accounted on cash basis.

3. In accordance with the pronouncements of Accounting Standard 22 : Accounting for Taxes deferred tax is recognized, subject to consideration of prudence, on timing differences, being difference between the taxable and accounting income/expenditure that originate in one period and are capable of reversal in one or subsequent period.

In view of reasonable uncertainty as to the utilization of deferred tax assets in the foreseeable future in relation to carry forward capital Loss under tax laws the same has riot been recognized in books of accounts as per para 17 of the said standard:

4. Related Party Transactions

Related party disclosure in accordance with the Accounting Standard 18-issued by the Institute of chartered Accountants of India is as under

5. Balances in respect of Loans & advances in most of the cases are subject to confirmations, reconciliations and adjustments, if any.

6. In the opinion of the management Loans & Advances have a value on realization in the ordinary course of the business at least equal to the amount at which they are stated in the books of accounts.

7. The previous year''s figures have been regrouped & recast wherever necessary to make them comparable.


Mar 31, 2013

Companies Overview:

Hindustan Appliances Limited (the company) is a public Limited company incorporated under the provisions of the companies Act, 1956 vide CIN : L18101M1I1984PLC034857

1.1 Balances in respect of Loans & advances and Liabilities in most of the cases are subject to confirmations, reconciliations and adjustments, if any.

1.2 "The Micro, Small and Medium Enterprises Development Act, 2006" has come into force from October 2, 2006 which has repealed the provisions of Interest on delayed payment to Small Scale and Ancillary Industrial Undertaking Act ,1993.The Company is in communication with its suppliers to ascertain the applicability of this Act. As on the date of this Balance sheet, the company has not received any communications from any of its suppliers regarding the applicability of this Act to them. This has been relied upon by the Auditors.

1.3 :ln view of Uncertainty as to utilization of Deferred Tax assets in relation to Long term and short term capital loss the same is not recognized in the financial statement considering prudence and conservative accounting basis.

1.4 The Company does not have any operational Business and Hence Segment reporting is not applicable to the company.

1.5 Related party disclosure in accordance with the Accounting Standard 18-issued by the Institute of chartered Accountants of India.

1.6 In the opinion of the management. Loans & Advances have a value on realization in the ordinary course of the business at least equal to the amount at which they are stated in the books of accounts.

1.7 Previous year''s figures have been regrouped recast and reclassified wherever necessary to make them comparable with the figures of current year.


Mar 31, 2012

Companies Overview:

Hindustan Appliances Limited (the company) is a public Limited company incorporated under the provisions of the companies Act, 1956 vide CIN : L18101MH1984PLC034857

1.1 In the opinion of the management, Current Assets, Loans & Advances, in most of the cases are subject to confirmations, reconciliations and adjustments, if any and have a value on realization in the ordinary course of the business at least equal to the amount at which they are stated.

1.2 Dues to Micro Small and Medium Enterprises:

The Company does not possess information as to which of its suppliers are ancillary' Industrial undertaking/ small scale undertaking holding permanent registration on certificate issued by the director of the industrial of state or union territory consequently the liabilities if any, of interest which would be payable under interest on deferred payment to small scale land ancillary industrial undertaking ordinance, 1992 cannot be ascertained.

However the Company has not received any claim in respect of interest from such suppliers.

1.3 :Calculation of deferred tax (Assets)/Liabilities.(Net) as on 31st March, 2012 : In view of Uncertainty as to utilization of Deferred Tax assets in relation to Long term and short term capital loss the same is riot recognized in the financial statement considering prudence and conservative accounting basis.

1.4. The Company does not have any operational Business and Hence Segment reporting is not applicable to the company

1.5 Related party disclosure in accordance with the Accounting Standard 18-issued by the Institute of chartered Accountants of India.

Note : related party relationship is as identified by the company and relied upon by the auditor.

1.6 C.I.F. value of import: Rs. Nil (Previous Year Rs. NIL).

1.7 F.O.B value of goods exports: Rs. Nil (Previous year Rs. Nil).

1.8 Expenditure in foreign currency: Rs. Nil (Previous year Rs. Nil) .

1.9 Earnings in foreign currency: Rs. Nil (previous year Rs. Nil)

1.10 Earning per Shares.(EPS)

1.11 Previous year's figures have been regrouped recast and reclassified wherever necessary to make them . comparable with the figures of current year.


Mar 31, 2010

1. The Company is a Non Banking Financial Institution in terms of section 45 I (C) of the Reserve Bank of India Act, 1934. As per the last audited accounts of the Company for the year ended March 31, 2010, the financial assets of the Company are more than 50% of its total assets and income from financial assets are also more than 50% of the gross income. Thus, the company has the business of a Non - Banking Financial Company (NBFC) as its principal business and is required to be registered as an NBFC with Reserve Bank of India. The company has not applied for and obtained any such registration.

2. Additional information pursuant to provision of paragraphs 3, 4, 4C & 4D of part II of Schedule VI of the companies Act, 1956 is given to the extent applicable.

3. "The Micro, Small and Medium Enterprises Development Act, 2006" has come in to force from October 2, 2006 which has repealed the provisions of Interest on delayed payment to small scale and ancillary Industrial undertaking Act ,1993

The Company is in communication with its suppliers to ascertain the applicability of this Act. As on the date of this Balance sheet, the company has not received any communications from any of its suppliers regarding the applicability of this Act to them. This has been relied upon by the Auditors.

4. The Company is having one business segment i.e. Finance Activities and Hence Segment reporting is not applicable to the company.

5. Calculation of deferred tax (Assets)/Liabilities (Net) as on 31st March, 2010 : In view of Uncertainty as to utilization of Deferred Tax assets in relation to Long term and short term capital loss the same is not recognized in the financial statement considering prudence and conservative accounting basis.

6. AUDITORS REMUNERATION

PARTICULARS CURRENT PREVIOUS YEAR YEAR

a) Audit fees & Tax Audit Fees 50,000.00 50,000.00

TOTAL RS. 50,000.00 50,000.00

7. Balances of Loans and advances, Current Liabilities and other liabilities are subject to confirmation, reconciliation and adjustments, if any and are stated at their recoverable value.

8. Expenditure incurred on employees who were in receipts of remuneration in the aggregate at the rate not less than Rs.24,00,000/- per year or Rs. 2,00,000/- per month for any period Rs. Nil.

9. Managerial remuneration under section 198 of the Companies Act, 1956 to a director is as follows:

Particulars 2009-2010 2008-2009

fa) Salary & Allowances NIL NIL

(b) 1 Commission NIL NIL



The Computation of profit u/s.309(5) of the companies Act,1956 has not been given as no commission is payable to Directors.

10. C.I F. value of import: Rs. Nil (Previous year Nil)

11. Expenditure in Foreign currency: Rs. Nil (previous year Nil)

12. Remittance in Foreign currency: Rs . Nil (previous year Nil)

13. FOB value of goods exported : Rs. Nil (previous year Nil)

14. Previous years figures have been regrouped, recast and reclassified wherever necessary to make them comparable with the figures of current years.

15. Related party disclosure in accordance with the Accounting Standard 18-issued by the Institute of chartered Accountants of India.

A) RELATIONSHIP:

SUBSIDIARY COMPANIES:

Jogindra Exports Limited Subsidiary

Kshnika Trading Limited Subsidiary

ASSOCIATED COMPANIES : Nil

KEY MANAGERIAL PERSONNEL & THEIR RELATIVES

Shri Sunil Hirji Shah Director

Shri Mehul Jadavji Shah Director

Shri Sanjay A. Desai Director

Shri Kalpesh R. Shah Director

Shri Ravindra Kanji Mytra Director

Note : related party relationship is as identified by the company and relied upon by the auditor.

Find IFSC