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Notes to Accounts of Jayatma Spinners Ltd.

Mar 31, 2015

1 Corporate Information

JAYATMA SPINNERS LIMITED is a public limited company domicile in India and incorporated under the provision of the Companies Act, 1956. The Company's main operation is trading activity and lease and license fees and has revenue from other operations such as Warehouse Charges, interest and dividend income.

2.c. During the year 2284000 Equity Shares of Rs. 10 each are issued at Rs.18 with Rs.8/- per share Security Premium. On receipt of the full consideration value,allotment of 2284000 equity shares were made and equity shares were issued at Rs.10/- each with Security Premium of Rs.8/- each.

d. The offer was made preferential to the Promoters and from the public.

e. The Equity Shares so alloted shall rank pari passu in all respects with the existing shares of the Company and elligible for dividend, if any declared by the Company from time to time.

f. Money received towards Equity Shares are under process of utilisation for various projects of the Company.

g. Terms/rights attached to the equity shares :

* The Company has issued only one class of shares referred to as equity shares having a par value of Rs.10/-. Each holder of equity share is entitled to one vote per share.

h. In the event of liquidation, the Equity Share holders are eligible to receive the remaining Assets of the Company after distribution of all statutory amount, in proportion to their share holding.

i. Company has not alloted any bonus shares, shares without consideration in cash and/or bought back any equity shares during the period of last five years.

3. : Additional Information pursuant to Schedule III to the Companies Act, 2013 is given as under so far as applicable to the Company.

A. Contingent Liability

Contingent Liability not provided for in respect of:

Particulars Amount Rs.

No

1 Legal Proceeding Claim not acknowledged as debts 3900000/-

C. Impairment of Assets

The carrying amounts of assets are reviewed at each balance sheet date. If there is any indication of impairment based internal/external factors. An impairment loss will be recognised wherever the carrying amount of an asset exceeds its estimated recoverable amount. The recoverable amount is greater of the assets' net selling price and value in use. In assessing the value in use the estimated future cash flows are discounted to the present value at the weighted average cost of capital. During the year there are no impairment losses of the Company.

D. Foreign Currency Transactions

Earnings in Foreign Currency:

E. Related Party Disclosures

As per the Accounting Standard on "Related Party Disclosures" (AS 18) issued by the Institute of Chartered Accountants of India, the related parties and the details of transaction with them are as follows:

Particulars

1 Key Managerial Person Kalyan J. Shah ,Nirav K Shah,

Fenil Shah, Premal Joshi and Ashini Shah

2 Relatives of Key Managerial Apurva Shah Person

3 Associate No Transactions during the year

G. Current Liability related to Micro, Small and Medium Enterpries :

The Company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure relating to amount unpaid to as at year end together with interest paid/payable under this act have not been given.

The Company is making efforts to get confirmation from the vendors as regards their status under the Act.

H. In the opinion of the Board of Directors, all items of Current Assets, Loans and Advances continue to have a realizable value of at least the amounts at which they are stated in the Balance Sheet, unless otherwise stated.

I. Balances of Trade Receivables and Loans & Advances are subject to confirmation and are as per books of account only. However, in the opinion of management the reconciliation will not have any material impact on profitability of the Company for the year.

J. Earnings Per Share

The earnings considered in ascertaining the Company's EPS represent profit for the year after tax. Basic EPS is computed and disclosed using the weighted average number of equity shares outstanding during the year.

K. In compliance of Accounting Standard 22 on "Accounting for taxes on Income" issued by Institute of Chartered Accountants of India, the Company has provided Accumulated net deferred tax liability in respect of timing difference as on 31st March, 2015. The item - wise details of deferred tax liability as on 31.03.2015 are as under:

L. The previous year figures have been accordingly regrouped/ re-classified to conform to the current year's classification.


Mar 31, 2014

1 Corporate Information

1 JAYATMA SPINNERS LIMITED is a public limited company domicile in India and incorporated under the provision of the Companies Act, 1956. The Company''s main operation is Trading activity and rental activity and has revenue from other operations such as Warehouse Charges,interest and commission income.

2 Details of shareholders holding more than 5% shares in the Company :

There are no shareholders holding more than 5% shares in the Company

c Terms/rights attached to the equity shares :

The Company has issued only one class of shares referred to as equity shares having a par value of RS. 10/- each holder of equity share is entitled to one vote per share.

3 CONTINGENT LIABILITY

Contingent liability not provided for in respect of:

Particulars Amount RS.

Claim against the Company not acknowledged as debts 390000/-

4 IMPAIRMENT OF ASSETS

The carrying amounts of assets are reviewed at each balance sheet date, if there is any indication of impairment based internal/external factors. An impairment loss will be recognised wherever the carrying amount of an asset exceeds its estimated recoverable amount. The recoverable amount is greater of the assets'' net selling price and value in use. In assessing the value in use the estimated future cash flows are discounted to the present value at the weighted average cost of capital. During the year there is no impairment losses of the Company.

5 FOREIGN CURRENCY TRANSACTIONS

There is no Foreign Exchange Earning & Out go during the Year

6 RELATED PARTY DISCLOSURE

As per the Accounting Standard on "Related Party Disclosures" (AS 18) issued by the Institute of Chartered Accountants of India, the related parties and the details of transaction with them are as follows:

Particulars

1 Key Managerial Personnel Nirav K. Shah, Fenil Shah Kalyan Shah

2 Relatives of Key Managerial Apurva K Shah, Ashok J. Shah Personnel

3 Associate No Transactions during the year

7 CURRENT LIABILITY RELATED TO MICRO, SMALL AND MEDIUM ENTERPRISES

The Company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure relating to amount unpaid to as at year end together with interest paid/payable under this act have not been given.

The Company is making efforts to get confirmation from the vendors as regards their status under the Act.

8 In the opinion of the Board of Directors, all items of Current Assets, Loans and Advances continue to have a realizable value of at least the amounts at which they are stated in the Balance Sheet, unless otherwise stated.

9 Balances of Trade Receivables and Loans & Advances are subject to confirmation and are as per books of account only. However, in the opinion of management, the reconciliation will not have any material impact on profitability of the Company for the year.

10 EARNINGS PER SHARE

The earnings considered in ascertaining the Company''s EPS represent profit for the year after tax. Basic EPS is computed and disclosed using the weighted average number of equity shares outstanding during the year.

11 The Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification/ disclosure.


Mar 31, 2013

Note-1 Corporate Information

JAYATMA SPINNERS LIMITED is a public limited company domicile in India and incorporated under the provision of the Companies Act, 1956. The Company''s main operation is Trading activity and rental activity and has revenue from other operations such as Warehouse Charges,interest and commission income.

31.3.2013 31.3.2012 Rupees Rupees

NOTE-2 CONTINGENT LIABILITY

Contingent liability not provided for in respect of:

Claim against the Company not acknowledged as debts 390000 -

NOTE-3 CAPITAL AND OTHER COMMITMENT

To the exent not provided for :

A. Estimated amount of contracts remaining to be executed on capital account and not provided for -

B. Guarantees -

C. Others -

NOTE-4 IMPAIRMENT OF ASSETS

The carrying amounts of assets are reviewed at each balance sheet date, if there is any indication of impairment based internal/external factors. An impairment loss will be recognised wherever the carrying amount of an asset exceeds its estimated recoverable amount. The recoverable amount is greater of the assets'' net selling price and value in use. In assessing the value in use the estimated future cash flows are discounted to the present value at the weighted average cost of capital. During the year there is no impairment losses of the Company.

NOTE-5 CURRENT LIABILITY RELATED TO MICRO, SMALL AND MEDIUM ENTERPRISES

The Company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure relating to amount unpaid to as at year end together with interest paid/payable under this act have not been given.

The Company is making efforts to get confirmation from the vendors as regards their status under the Act.

NOTE-6

In the opinion of the Board of Directors, all items of Current Assets, Loans and Advances continue to have a realizable value of at least the amounts at which they are stated in the Balance Sheet, unless otherwise stated

NOTE-7

Balances of Trade Receivables and Loans & Advances are subject to confirmation and are as per books of account only. However, in the opinion of management, the reconciliation will not have any material impact on profitability of the Company for the year.

NOTE-8 EARNINGS PER SHARE

The earnings considered in ascertaining the Company''s EPS represent profit for the year after tax. Basic EPS is computed and disclosed using the weighted average number of equity shares outstanding during the year.

NOTE-9

The Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification/disclosure.


Mar 31, 2012

1. Corporate Information :

Jayatma Spinners Ltd is a publiq limited company domiciled in India and incorporated under the provisions of the Companies Ad,1958. The Company's main operation is dealing in Yam and has its revenue from other operations such as Warehouse Charges and other Rent Charges of Equipment.

NOTE "2": SEGMENT REPORTING

As more than 90% of revenue for the Company comes from a Primary Domestic single segment of Warehouse income, segment reporting as required under Accounting Standard-17, issued by The Institute of Chartered Accountants of India (ICAI) is not applicable.

NOTE "3": RELATED PARTY DISCLOSURES

As per Accounting Standard - 18 on "Related Parly Disclosures" issued by the Institute of Chartered Accountants of India, the related parties and the details of transactions with them are as follows:

1. Key Managerial Personnel Nirav K. Shah, Fenil Shah, Ashok Gandhi.

2. Relatives Apurva K. Shah, Aahok J. Shah

3. Associate Jayatma Informatics P Ltd., Jayatma Comtex Pvt. Ltd., Giriraj Cotton Ltd., Santaram Spinners Ltd., Niyati Tex P. Ltd.

NOTE "4":

In the opinion of the Board of Directors, all items of Current Assets, Loans and Advances continue to have a realizable value of at least the amounts at which they are stated In the Balance Sheet, unless otherwise stated.

NOTE "5":

Balances of Trade Receivables, Loans & Advances and Trade Receivables ire subject to confirmation and are as per books of account only. However, in the opinion of management, the reconciliation will not have any material impact on profitability of the Company for the year.

NOTE "6":

The Revised Schedule VI has become effective from 1st April, 2011 for the preparation of financial statements. This has significantly impacted the disclosures and presentation made in the financial statements. Previous Years's figures have been regrouped / reclassified wherever necessary fo correspond with the current year's classification/disclosure Financial Data has been provided to the extent it is applicable to the Company.

 
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