Home  »  Company  »  Kellton Tech Solutio  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Kellton Tech Solutions Ltd.

Jun 30, 2015

1. Following are the 100% subsidiaries of the company:-

Kellton Dbydx Software Private Limited (India)

Kellton Tech Inc (USA)

Kellton Tech Solutions Inc (USA)

2. Capital Work in Progress includes Research and Development expenditure on KLGAME™ a unique software product, which will be commercially exploited upon successful completion.

3. Consequent to the enactment of the Companies Act 2013 (the Act) , the company has reworked depreciation on with reference to the estimated economic lives of the fixed assets prescribed by schedule II to the act or useful life of the assets , whichever is lower. The impact of additional depreciation on account of this is Rs 1683908.

In case of any assets whose life has completed as above the value has been adjusted against Reserve and Surplus and in other cases the carrying value has been depreciated over the remaining of the revised life of the assets and recognized in the statement of Profit and Loss Statement.

4. Previous year figures have been regrouped wherever necessary


Jun 30, 2014

1. Contingent liabilities 30-06-2014 30-06-2013 Rs. Lakhs Rs. Lakhs

(f) Bank Guarantees 141.28 Lacs NIL

(g) SBLC Guarantee 1734.32 Lacs NIL

2. Related Party Transactions as per AS 18

Transactions with related parties in the ordinary course of business

30-06-2014 30-06-2013

Loans received 1) Kellton Financial 1) Kellton Financial Services Pvt. Ltd - Services Pvt. Ltd - Rs. 150,905 Rs. 1,02,00,000 2) Niranjan Chintam - 2) Niranjan Chintam - Rs. 91,061 Rs. 14,16,061 3) Krishna Chintam - 3) Krishna Chintam - Rs. 5,78,717 Rs. 6,47,869 4) Avid Software Solutions Pvt. Ltd. -Rs. 1,31,66,500

Loan Given - 1) Kellton Dbydx 1) Kellton Dbydx Subsidiary Software Pvt Ltd - Software Pvt Ltd - Company Rs. 2,028,0880 62,03,371 2) Kellton Tech Inc - Rs. 1,32,19,481

3. In the opinion of the management the investments of Rs 18149552 in IGLILY INC (USA) is good and recoverable in view of the future road map of the companies. The Company has already collected 50.27 % of the amount due.

4. Following are the 100% subsidiaries of the company:-

MCS GLOBAL INC-(USA) KELLTON DBYDX SOFTWARE PVT LTD (India) KELLTON TECH INC (USA)

5. Goodwill is subject to impairment testing on an annual basis. However, if indicators of impairment are present, the company will review goodwill for impairment when such indicators arise. The company performs an annual review and no impairment was recorded. In performing the review, the company determine the recoverable amount of goodwill based on fair value less any costs that would be incurred should the company sell a cash generating unit to which goodwill would be apportioned from the operating segment. Key assumptions used by management to determine the fair value of the goodwill include industry earnings multiples and earnings multiples from previous company acquisitions.

6. For the purpose of having uniform depreciation method in the company that has been merged, depreciation has been recalculated and the excess depreciation claimed earlier has been since reversed for amount of Rs 14,31,320/-, which has been taken to General Reserve as a prior period adjustment.

7. Previous year figures have been regrouped wherever necessary.


Jun 30, 2013

(1) Equity shares issued by the company are Equity Shares within the meaning of Section 85(2) of the Companies Act, 1956.

(2) Each holder of equity share is entitled to one vote per share.

(3) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts.

(4) The distribution will be in proportion to the number of equity shares held by the shareholders

5. Confirmation of balances from parties as at the end of the year has not been received. The adjustments, if any, shall be made as an ongoing process. Current assets and Current liabilities are subject to confirmation and adjustments, if any.

6. Employees'' retirement benefits have not been provided pending actuarial valuation. The retirement benefits are accounted on cash basis.

7. In the opinion of the management the investments of Rs.18,149,552 in IGLILY INC (USA) is good and recoverable in view of the future road map of the companies.

8. Following are the 100% subsidiaries of the company:-

9. Goodwill is subject to impairment testing on an annual basis. However, if indicators of impairment are present, the company will review goodwill for impairment when such indicators arise. The company performs an annual review and no impairment was recorded. In performing the review, the company determine the recoverable amount of goodwill based on fair value less any costs that would be incurred should the company sell a cash generating unit to which goodwill would be apportioned from the operating segment. Key assumptions used by management to determine the fair value of the goodwill include industry earnings multiples and earnings multiples from previous company acquisitions.

10. Long term loans and advances includes an amount of Rs. 14,55,000 which is pending settlement and collections.

11. Previous year figures have been regrouped wherever necessary.


Jun 30, 2010

1. Contingent liabilities 30-06-2010 30-06-2009

[a] Claims against the company not Nil Nil acknowledged as debts

[b] Uncalled liability on shares partly paid Nil Nil

[c] Arrears of fixed cumulative dividend Nil Nil

[d] Estimated amount of contracts remaining to be Nil Nil paid on capital account not provided for

[e] Other money for which the company is 20.73 Lakhs 20.73 Lakhs contingently liable

2. Confirmation of balances from parties as at the end of the year has not been received. The adjustments, if any, shall be made as an ongoing process. Current liabilities are subject to confirmation and adjustments, if any.

3. Employees retirement benefits have not been provided pending actuarial valuation.

4. In the opinion of the management the followings investments are good and recoverable in view of the future road map of the companies.

Technovention Tradex Private Limited - Rs. 14,55,000 IGLILYINC Rs. 1,81,49,552

5. Deferred Tax liability:- In conformity with the accounting standards no 22 issued by the Institute of Chartered Accountants of India on "Accounting for Taxes on income", provision for deferred tax Asset for current year has been taken to profit and loss account. The composition of deferred tax is on account of timing differences relating to depreciation.

6. Presently the company is not liable under Provident Fund and Employees State Insurance Act.

7. There are no miner small and medium enterprises units to whom the company owes a sum exceeding Rupees one lakh which is outstanding for more than 30 days

8. Previous years figures have been regrouped wherever necessary.

 
Subscribe now to get personal finance updates in your inbox!