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Notes to Accounts of Kaycee Industries Ltd.

Mar 31, 2015

1. Details of Licensed and Installed Capacity, Production, Stock and Turnover.

2. Employee Benefits

With effect from 1st April 2007, the company has adopted revised Accounting Standard 15 "Employei Benefits". Pursuant to the adoption, no adjustment was required to be made to general reserve of revisei As -15 as the impact was insignificant. .

3. During the year, the company has taken physical verification of fixed assets and noted discrepancy of Rs Nil (W.D.V.) (P. Y Nil ) of Fixed Assets and the same were adjusted and discarded in the books of accounts

4. Pursuant to the enactment of Companies Act 2013, the company has applied the estimated useful lives as specified in Schedule II. Accordingly the unamortised carrying value is being depreciated over the revised/ remaining useful lives. The written down value of Fixed Assets whose lives have expired as at 1st April 2014 have been adjusted, in the opening balance of General Reserves amounting to Rs. 1,034,379/-.

5. Disclosure of Related Parties / Transactions With Related Parties:-

Relationship Name of Related Party

Subsidiary company RDJ Construction Private Limited

Group Companies CMS Traffic Systems Limited

(Enterprise over which Director CMS Computers Limited

and/or his relatives has Jess Prasad Engg. And Metallurgical Services Pvt. Ltd

significant influence) ST Energy Solution Private Limited

CMS Engineering Services Private Limited G.G. Constructions Private Limited Datacom Computer Services Private Limited Dynamic Hydro Machines Private Limited Mailtek Services (India) Limited Netprint Solution India Private Limited New Video Private Limited CMS - Ident Pvt. Ltd.

Computer Products and Services Pvt. Ltd.

Dominant Developers Pvt. Ltd.

Acu-Soft Technologies Pvt. Ltd.

CMS-DITL Ltd.

Computer Maintenance Service Royal Virgo Travels Systime Computers Limited CMS Universal Solution P Ltd CMS Info System Ltd.

Resergent Infotech Pvt.Ltd.

People Upliftment Foundation CMS Marshal Limited CMS Securitas Limited Money ease Capital Pvt. Ltd.

CMS I.T Services Pvt.Ltd

Key Management Personnel (KMP) Directors :

Mrs. Raju R. Grover Ms. Aarti R. Grover Mrs. Sona P. Ramchandani Mrs. Pramila Prakash Merani Mrs.Savitri Lal Butani Mr.Deepak Potdar (CFO)

Miss. Kamaleshwari Bind (CS)

6. The equity shares of the company are listed in Bombay Stock Exchange and company has paid annual listing fees to the stock exchange for the year 2014-2015.

7. During the year the Company has reviewed Accounts Receivable and reversed provision for doubtful debts Rs. 555,034. (P.Y. Provision made.Rs 348,923).

8. Segment wise Reporting as per Note No. 27.

9. In the opinion of the Board Current Assets, Loans & Advances have a value on realization in the ordinary Course of Business at least equal to the amount at which they are stated in accounts and all current liabilities have been provided for.

10. Sundry Debtors and Creditors are subject to confirmation and reconciliation if any.

11. Previous Years figures have been regrouped / rearranged wherever necessary.


Mar 31, 2013

1 Employee Benefits

With effect from 1st April 2007, the company has adopted revised Accounting Standard 15 "Employee Benefits". Pursuant to the adoption, no adjustment was required to be made to general reserve of revised As -15 as the impact was insignificant.

As per Accounting Standard 15" Employee Benefits", the disclosure of Employee benefits as defined in the Accounting Standard are given below:

2 During the year the Company has reviewed Accounts Receivable and made provision for doubtfull debts Rs. 513,805 (P.Y. 1,862,020).

3 Segment wise Reporting as per Note No. 27

4 In the opinion of the Board Current Assets, Loans & Advances have a value on realization in the ordinary Course of Business at least equal to the amount at which they are stated in accounts and all current liabilities have been provided for.

5 Sundry Debtors and Creditors are subject to confirmation and reconciliation if any.

6 Previous Years figures have been regrouped / rearranged wherever necessary.


Mar 31, 2012

Note : The Above Remuneration Paid is In Excess of Limits Prescribed U/S 309 of The Companies Act 1956 and is subject to necessary Subsequent approval.

1 Details of Licensed and Installed Capacity, Production, Stock and Turnover.

2 Employee Benefits

With effect from 1st April 2007, the company has adopted revised Accounting Standard 15 "Employee Benefits". Pursuant to the adoption, no adjustment was required to be made to general reserve of revised As -15 as the impact was insignificant.

As per Accounting Standard 15 " Employee Benefits", the disclosure of Employee benefits as defined in the Accounting Standard are given below:

The Company's Provident Fund is Exempted under section 17 of Employees' Provident Fund Act, 1952.Condition of grant of exemption stipulates that the employer shall make good deficiency, if any, in the interest rate declared by the trust vis- a vis statutory rate.

II Defined Benefit Plans

Under both the Gratuity and Leave Encashment, The Present Value of Obligation is determined based on actuarial valuation using the projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measure each unit of employee benefit entitlement and measure each unit separately to build up the final obligation.

Fare value of plan assets at the end of period Rs 12,148,262/- is funded fully with Life Insurance Corporation of India

3 During the year, the company has taken physical verification of fixed assets and noted discrepancy of Rs Nil (W.D.V.) (R Y. 0.28 Lacs) of Fixed Assets and the same were adjusted and discarded in the books of accounts - Rs. NIL in respect of the related parties have bee written off are provided during the year

- Related party relationship have been identified by the management and relied upon by the auditors

4 The equity shares of the company are listed in Bombay Stock Exchange and company has paid annual listing fees to the stock exchange for the year 2011-2012.

5 During the year the Company has reviewed Accounts Receivable and decided to written off Rs. 14.50 Lacs (RY. 9.95 Lacs) as bad debts.

6 Segment wise Reporting as per Note No. 27

7 In the opinion of the Board Current Assets, Loans & Advances have a value on realization in the ordinary Course of Business at least equal to the amount at which they are stated in accounts and all current liabilities have been provided for.

8 Sundry Debtors and Creditors are subject to confirmation and reconciliation if any.

9 Previous Years figures have been regrouped / rearranged wherever necessary.

NOTE NO. 10

1. Segments have been identified in line with the accounting standard on segment reporting (AS- 17) taking into account the organisation's product revenue.

2. The company recognise switches as primary segment.

3. Assets used in the company's business or liabilities contracted have not been identified to any of the reportable segments as assets are used interchangeably between segments.

Management believes that it is not practicable to provide segment disclosure relating to total assets and total liabilities, since a meaningful segregation of available data could be onerous.


Mar 31, 2011

1. Background

KAYCEE INDUSTRIES LIMITED is a manufacturing and trading company in the field of industrial switches, counters, water meters, electrical components, etc.

I Defined Benefit Plans

Under both the Gratuity and Leave Encashment, The Present Value of Obligation is determined based on actuarial valuation using the projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measure each unit of employee benefit entitlement and measure each unit separately to build up the final obligation.

2. During the year, the company has taken physical verification of fixed assets and noted discrepancy of Rs 0.28 lacs (W.D.V.) (P. Y. 0.11 Lacs) of Fixed Assets and the same were adjusted and discarded in the books of accounts

3. Disclosure of Related Parties / Transactions With Related Parties:-

Relationship Name of Related Party

Holding companies Money Ease Capital Private Limited CMS Traffic Systems Limited

Subsidiary companies RDJ Construction Private Limited

Group Company Jess Prasad Engg. And Metallurgical Services Pvt. Ltd. (Enterprise over which CMS Energy Systems Private Limited Director and/or his CMS Engineering Services Private relatives has Limited significant influence) G.G. Constructions Private Limited

Datacom Computer Services Private Limited

CMS Computers Limited

Systime Global Solutions Pvt. Ltd.

CMS Info Systems Pvt. Ltd.

CMS Securitas Limited

Dynamic Hydro Machines Private Limited

Mailtek Services (India) Limited

Netprint Solution India Private Limited

New Video Private Limited

CMS-ldentPvt. Ltd.

Systime Computers Limited

Computer Products and Services Pvt. Ltd.

VersaPos Group Inc USA

Dorminant Developers Pvt. Ltd.

Acu-Soft Technologies Pvt. Ltd.

Cable Network Systems Pvt. Ltd.

CMS-DITL Ltd.

CMS Netprint (Private) Limted Sri Lanka

Suburbia Realtors Private Limited

Systime Computer Corporation, USA

Systime Global Systems Pte Ltd.,. Singapore

Systime Global Systems Pte Ltd., Australia

Systime Global Systems Japan Ltd., Japan

Systime ME FZCO, Dubai.

CSI Solutions Ltd., U.K.

VersoPosl NC.USA

CMS Global Solutions Ltd., U.K.

Leadline Security Systems Private Limited

Unmatched Systems Private Limited

Dominant Systems Private Limited

Radiant Security Services Private Limited

Computer Maintenance Service

Resergent Infoteck Private Limited

Royal Virgo Travels

Key Management Personnel Mrs. Raju R. Grover (KMP)

Ms. Aarti R. Grover

Mr. Aaloke Ghosh

4. The equity shares of the company are listed in Bombay Stock Exchange and company has paid annual listing fees to the stock exchange for the year 2010-2011.

5. Balance Sheet Abstract and Company's Business Profile as per Annexure to Schedule No. 14

6. During the year the Company has reviewed Accounts Receivable and decided to written off Rs. 9.95 Lacs (P.Y. 1.18 Lacs) as bad debts.

7. Segment wise Reporting as per Annexure to Schedule No. 14.

8. In the opinion of the Board Current Assets, Loans & Advances have a value on realization in the ordinary Course of Business at least to the amount at which they are stated and all current liabilities have been provided for.

9. Sundry Debtors and Creditors are subject to confirmation and reconciliation if any.

10. Previous Years figures have been regrouped / rearranged wherever necessary.


Mar 31, 2010

1 Background

KAYCEE INDUSTRIES LIMITED is a manufacturing and trading company in the field of industrial switches, counters, water meters, electrical components, etc.

2 Earning per share

Basic and diluted earnings per share are calculated by dividing the net profit/ loss for the year by the weighted average number of equity shares outstanding during the period.

3 Provisions

A provision is recognized when the company has a present obligation resulting from past events and it is probable that an outflow of resources will be required to settle the obligation for which a reliable estimate can be made. Provisions are based on managements best estimate of the amount required to settle the obligation at the balance sheet date. Provisions are reviewed at each balance sheet date and adjusted to reflect revision in estimates. The company has decided to provide Bad and doubtful debts if debtors remain outstanding over and above one years

4 Income Tax

A tax expense comprises current and deferred taxes. Current income tax is measured at the amount expected to be paid to the tax authorities in accordance with The Income Tax Act, 1961. Deferred Income Tax Reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years.

The differed tax asset and deferred tax liability is calculated by applying tax rate and tax laws that have been enacted or substantially enacted at the balance sheet date.

Deferred taxes assets are recognized and carried forward for all deductible timing differences only if there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

The deferred tax liability is arising due to timing difference on depreciation charged where as deferred tax assets arising mainly on account of Leave encashment & Gratuity.

5 Estimated value of contracts (Net of Advances) to be executed on capital account and not provided for Rs. 0.66 Lacs (Previous year Rs. 5.34 Lacs).

6 Duties & Penalties to the tune of Rs. NiL Lacs (Prev. Year NIL lacs) have been levied by the Superintendent of Excise. Company has not provided contingent liability of Rs 12.88 Lacs against Sales Tax Assessment for year 2000-2001 and Rs.3.96 Lacs against Central Excise assessment for year 2007-2008.

7 Pakistan unit of the Company continues to be under the control of Pakistan Government. It has not been possible to establish any communication with the said unit so far. Therefore, statement of Assets and Liabilities as at 30th June 1964 based on the last reports received have been incorporated in the Balance sheet as pre devaluation rate of rate of exchange as per Schedule 7.

8 Details of Licensed and Installed Capacity, Production, Stock and Turnover.

9 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 amounts unpaid as at the year end together with interest paid/Payable under this act have not been given.

10 Employee Benefits

With effect from 1st April 2007, the company has adopted revised Accounting Standard 15 "Employee Benefits". Pursuant to the adoption, no adjustment was required to be made to general reserve of revised As -15 as the impact was insignificant.

The Companys Provident Fund is Exempted under section 17 of Employees Provident Fund Act, 1952.Condition of grant of exemption stipulates that the employer shall make good deficiency, if any, in the interest rate declared by the trust vis- a vis statutory rate. II Defined Benefit Plans Under both the Gratuity and Leave Encashment, The Present Value of Obligation is determined based on actuarial valuation using the projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measure each unit of employee benefit entitlement and measure each unit separately to build up the final obligation.

11 During the year, the company has taken physical verification of fixed assets and noted discrepancy of Rs 0.11 lacs (W.D.V.) (P. Y. NIL Lacs) of Fixed Assets and the same were adjusted and discarded in the books of accounts

12 Disclosure of Related Parties / Transactions With Related Parties:-

Relationship Name of Related Party

Holding companies Money Ease Capital Private Limited CMS Traffic Systems Limited

Group Company Jess Prasad Engg. And Metallurgical Services Pvt. Ltd.

(Enterprise over which Director CMS Energy Systems Private Limited and/or his relatives has CMS Engineering Services Private Limited significant influence) G.G. Constructions Private Limited Datacom Computer Services Private Limited CMS Computers Limited Systime Global Solutions Pvt. Ltd. CMS Info Systems Pvt. Ltd. CMS Marshall Limited CMS Securitas Limited Dynamic Hydro Machines Private Limited Mailtek Services (India) Limited Netprint Solution India Private Limited New Video Private Limited CMS - Ident Pvt. Ltd. Maxcool Technology Pvt. Ltd RDJ Constructions Pvt. Ltd. Systime Computers Limited Computer Products and Services Pvt. Ltd. Sea Shell Properties Pvt. Ltd. VersaPos Group Inc USA Dorminant Developers Pvt. Ltd. Acu-Soft Technologies Pvt. Ltd. Cable Network Systems Pvt. Ltd. CMS-DITL Ltd.

Key Management Personnel (KMP) Mr. R. D. Grover Mrs. Raju R. Grover Mr. V. K. Prasad

Relatives of KMP Ms. Aarti R. Grover

13 The equity shares of the company are listed in Bombay Stock Exchange and company has paid annual listing fees to the stock exchange for the year 2010-2011.

14 Balance Sheet Abstract and Companys Business Profile as per Annexure to Schedule No. 14

15 During the year the Company has reviewed Accounts Receivable and decided to written off Rs. 1.18 Lacs(P.Y. 21.87 Lacs) as bad debts.

16 Segment wise Reporting as per Annexure to Schedule No. 14.

17 In the opinion of the Board Current Assets, Loans & Advances have a value on realization in the ordinary Course of Business at least to the amount at which they are stated and all current liabilities have been provided for.

18 Sundry Debtors and Creditors are subject to confirmation and reconciliation if any.

19 Previous Years figures have been regrouped / rearranged wherever necessary.


Mar 31, 2003

1. CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF :

i) Guarantees given by Banks in favour of third parties for which Company has issued counter-guarantees Rs. Nil (Previous Year Rs. 2.46 lacs)

ii) Duties & Penalties to the tune of Rs. 2.61 lacs have been levied by the excise department against which appeals have been filed before the appalate authorities and full amount has been paid under Protest.

2. Pakistan unit of the Company continues to be under the control of Pakistan Government. It has not been possible to establish any communication with the said unit so far. Therefore, statement of Assets and Liabilities as at 30th June, 1964 based on the last reports received have been incorporated in the Balance sheet at pre devaluation rate of exchange as per Schedule 7.

3. MANAGERIAL REMUNERATION:

b) Due to inadequate profit and Mr. Nareshchandra Jain ceases to be Managing Director w.e.f. 2.7.2002 no commission is being paid.

4. TAXATION AND DEFFERED TAXATION :

Provision for income tax has been made during the year

Company has deffered tax assets of Rs 25.39 lacs (Net) as on 31st March 2003, however the same has not been recognised in view of uncertainty of quantum of future profits.

5. The Company has not received any information from any of the suppliers as covered under small scale and ancillary undertakings Act, 1993 of their being a small scale industrial unit. Hence the amount due to small scale industrial units outstanding and interest thereon for more than thirty days as on 31st March 2003, are not ascertainable.

6. As per the rules of the Company the accumulated earned leave are allowed to be availed by the employees even after the close of the financial year of the Company, and this policy is being followed consistently.

7. Related Parties Disclosure :-

-No amount in respect of the related parties have been written off / back are provided during the year.

-Related party relationship have been identified by the management and relied upon by the auditors.

-There is no corresponding figures for the previous year.

8. The equity shares of the company are listed in Bombay Stock Exchange and company has paid annual listing fees to the stock exchange for the year 2003-2004.

9. Material in process includes material costing Rs. 51.53 lacs lying with the company for more than two years. The market value of the same is not assertainable.

10. Balance Sheet Abstract and Companys Business Profile as per Annexure to Schedule No.ll

11. Cash flow for the year ended 31st March 2003 as annexure to Schedule No.ll.

12. Segmentwise Reporting as per Annexure to Schedule No. 11.

13. In the opinion of the Board Current Assets, Loans & Advances have a value on realisaton in the ordinary Course of Business at least to the amount at which they are stated and all current liabilities have been provided for.

14. Sundry Debtors and Creditors are subject to confirmation and reconciliation.

15. Other expenses includes prior period items of Rs. NIL & Previous years Rs. 0.07 lacs.

16. Company has given advances of Rs. 1,07,400/- to suppliers for moulds which are outstanding for considerable time and in opinion of the management the advance for the moulds will be recovered in due course of time.

17. Previous Years figures have been regrouped/rearranged wherever necessary.

 
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