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Notes to Accounts of Jeevan Scientific Technology Ltd.

Mar 31, 2015

Company Information

The Company was incorporated on 2nd February, 1999 to carry on the business Clinical research, Data management, education and staffing services.

1. Accounting for Lease (AS-19):

The Company has taken two premises on operating lease. In respect of one property, in the absence of non-cancellable lease agreement, the requirements of the Accounting Standard - 19 are not given.

In respect of the other premises, the particulars are given below:

a) The total of future minimum lease payments under non cancellation operating leases are given below:

b) Lease payments recognized in the Statement of Profit and Loss.

Lease rentals of Building recognized in the Statement of Profit and Loss - Rs.18,00,000/-.

c) General description of the company's significant leasing arrangements.

The Company has entered into a long term non-cancellable leasing arrangement in respect of its Office situated at 3rd Floor, North Block, RaghavaRatna Towers, Chirag Ali Lane, Abids, Hyderabad- 500001.

2. The management has carried assessment of impairment of assets and no impairment loss has been recognized during the year.

3. Previous year's figures are regrouped/ reclassified wherever considered necessary to confirm to current year's classifications.


Mar 31, 2014

Company Information

The Company was incorporated on 2nd February, 1999 and presently carrying on the business of Clinical research, Data management, education and staffing services.

2. The management has carried assessment of impairment of assets and no impairment loss has been recognized during the year.

3. Previous year''s figures are regrouped/ reclassified wherever considered necessary to confirm to current year''s classifications.


Mar 31, 2013

1. Contingent liabilities not provided for: - Nil -

2. In the opinion of the management, the current assets, loans and advances are expected to realize at least the amount at which they are stated.

3. Accounting for Lease (AS-19):

The Company has taken two premises on operating lease. In respect of one property, in the absence of non-cancellable lease agreement, the requirements of the Accounting Standard – 19 are not given. In respect of the other premises, the particulars are given below:

b) Lease payments recognized in the Statement of Profit and Loss.

Lease rentals of Building recognized in the Statement of Profit and Loss - Rs.18,00,000/-.

c) General description of the company''s significant leasing arrangements.

The Company has entered into a long term non-cancellable leasing arrangement in respect of its Registered Office situated at 3rd Floor, North Block, Raghava Ratna Towers, Chirag Ali Lane, Abids, Hyderabad- 500001.

Against deferred tax asset of Rs. 131.88 lakhs, an amount of Rs. 44.73 lakhs which was recognized in the earlier year is being continued and additional amount of Rs. 87.15 lakhs has not been recognized as a measure of prudence and in the absence of virtual certainty that sufficient future taxable income will be available against which deferred tax asset can be realized.

5. As required by Accounting Standard (AS 28) "Impairment of Assets" issued by the Institute of Chartered Accountants of India, The Management has carried out the Assessment of Impairment of Assets and no Impairment Loss has been recognized during the year to her than the assets discarded/ dismantled and written off in statement of Profit and Loss.

6. Previous year''s figures are regrouped/ reclassified wherever considered necessary to confirm to current year''s classifications.


Mar 31, 2012

1. Contingent liabilities not provided for: - Nil -

2. Outstanding balances of sundry debtors, loans and advances and sundry creditors are subject to confirmation.

In the opinion of the management, the current assets, loans and advances are expected to realize at least the amount at which they are stated.

3. No dues are outstanding to Micro, Small and Medium enterprises

Against deferred tax asset of Rs. 53.98 lakhs, an amount of Rs. 44.73 lakhs which was recognized in the earlier year is being continued and additional amount of Rs. 9.25 lakhs has not been recognized as a measure of prudence and in the absence of virtual certainty that sufficient future taxable income will be available against which deferred tax asset can be realized.

4. As required by Accounting Standard (AS 28) "Impairment of Assets" issued by the Institute of Chartered Accountants of India, The Management has carried out the Assessment of Impairment of Assets and no Impairment Loss has been recognized during the year other than the assets discarded/ dismantled and written off to Profit and Loss Account.

5. No Provision for current tax has been made in view of the unabsorbed loss and depreciation in accordance with Income tax Act 1961.

6. Previous year''s figures are regrouped/ reclassified wherever considered necessary to conform to current year''s classifications.

 
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