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Notes to Accounts of Kelvin Fincap Ltd.

Mar 31, 2015

1. Balance confirmation have not been received in certain cases. Thus such balance due to or due from the parties are subject to necessary adjustment on receipt of confirmation.

2. We relying the entry appearing in the books of accounts when ever proper supporting not attached.

3. Additional information pursuant to the provision of paragraph 3 & 4 in part 11 of the Schedule vi of the companies act 1656 is not applicable.


Mar 31, 2014

(1) In the opinion of the management, the provident Fund and ESI Act are not applicable to the terms of employment of any employee of the Company. Hence, no provisions or payment have been made for the same. As no employees of the Company has put in the qualifying period of services for the entitlement of gratuity benefits. No provision has been made for the same.

(2) In the Opinion of the Board of Directors, Current Assets are realisable.

(3) No further information pursuant to paragraph 4c and 4d of the part II of Schedule VI of the Companies Act, 1956 is given, as the same is not applicable to the company.

(4) Balance in respect of debtors, bank, creditors, Loans and Advances including Banks are subject to reconciliation and Confirmation.

(5) There is no contingent liability in the Company.

(6) There are no employee drawing remuneration exceeding 12,00,000/- per annum or 1,00,000/- per month as the case may be.

[7] The company has not made any payment to any related party as required by AS-18 of ICAI.

[8] The provision of Income Tax has been made considering current profit and any shortfall of earlier years.

[9] Previous year''s figures have been regrouped/rearranged whenever necessary so as to confirm to the balance of the current year.


Mar 31, 2013

(1) In the opinion of the management, the provident Fund and ESI Act are not applicable to the terms of employment of any employee of the Company. Hence, no provisions or payment have been made for the same. As no employees of the Company has put in the qualifying period of services for the entitlement of gratuity benefits. No provision has been made for the same.

(2) In the Opinion of the Board of Directors, Current Assets are realisable.

(3) No further information pursuant to paragraph 4c and 4d of the part II of Schedule VI of the Companies Act, 1956 is given, as the same is not applicable to the company.

(4) Balance in respect of debtors, bank, creditors, Loans and Advances including Banks are subject to reconciliation and Confirmation.

(5) There is no contingent liability in the Company.

(6) There are no employee drawing remuneration exceeding 12,00,000/- per annum or 1,00,000/- per month as the case may be.

[7] The company has not made any payment to any related party as required by AS-18 of ICAI.

[8] The provision of Income Tax has been made considering current profit and any shortfall of earlier years.

[9] Earning per Share is calculated by dividing profit by no. of shares.

[10] There is no additional information pursuant to para (3) & (4) of part II of schedule VI of the Companies Act, 1956.

[11] The deferred tax liability is not provided as amount pertaining to it nil.


Mar 31, 2012

(1) In the opinion of the management, the provident Fund and ESI Act are not applicable to the terms of employment of any employee of the Company. Hence, no provisions or payment have been made for the same. As no employees of the Company has put in the qualifying period of services for the entitlement of gratuity benefits. No provision has been made for the same.

(2) In the Opinion of the Board of Directors, Current Assets are realisable.

(3) No further information pursuant to paragraph 4c and 4d of the part II of Schedule VI of the Companies Act, 1956 is given, as the same is not applicable to the company.

(4) Balance in respect of debtors, bank, creditors, Loans and Advances including Banks are subject to reconciliation and Confirmation.

(5) There is no contingent liability in the Company.

(6) There are no employee drawing remuneration exceeding 12,00,000/- per annum or 1,00,000/- per month as the case may be.

[7] The company has not made any payment to any related party as required by AS-18 of ICAI.

[8] The provision of Income Tax has been made considering current profit and any shortfall of earlier years.

[9] Previous year''s figures have been regrouped/rearranged whenever necessary so as to confirm to the balance of the current year.

[10] Earning per Share is calculated by dividing profit by no. of shares.

[11] There is no additional information pursuant to para (3) & (4) of part II of schedule VI of the Companies Act, 1956.

[12] The deferred tax liability is not provided as amount pertaining to it nil.

We confirm that the above Balance Sheet has been correctly extracted from the accounts of the Company for the year ended 31st March 2012 audited by us.


Mar 31, 2010

1 FIGURES OF THE PREVIOUS YEAR

Figures of the previous year have been regrouped and/or rearranged, wherever considered necessary, to make them comparable with the figures of the current year.

2 DEBIT/CREDIT BALANCES

Debit and/or credit balances, including loans taken and/or given, are subject to confirmation.

3 STOCK IN TRADE

Stock in trade, as certified by the management, is valued at cost on the principles of "FIFO". Bonus entitlements are accounted as stock-in-trade. The cost of shares include brokerage & excludes service tax & transaction based charges (like turnover tax, stamp duty, CM charges, etc.) which are charged to revenue.

4 LOANS & ADVANCES

Loans & advances include Rs. NIL (previous year balance Rs. NIL), either due from (i) companies in which some of the Directors are interested and/or (ii) Directors of the company and/or (iii) individuals related to the Directors of the company.

5 UNSECURED LOANS

Unsecured loans include Rs. 13,06,93,751/31 (previous year Rs. 11,77,31,251/31), either due to (i) companies in which some of the Directors are interested and/or (ii) Directors of the company and/or (iii) individuals related to the Directors of the company.

6 CREDITORS

Creditors include Rs. NIL (previous year Rs. NIL), either due to (i) companies in which some of the Directors are interested and/or (ii) Directors of the company and/or (iii) individuals related to the Directors of the company.

7 DEFERRED TAX ASSETS

The net deferred tax assets, accumulated upto the period ending 31/3/2009 and for the current year, have not been recognised, keeping in view the consideration of prudence, in accordance with the Accounting Standard 22 on "Accounting for Taxes on Income" issued by the ICAI. The company will, depending on future developments, reassess the unrecognised deferred tax assets in the subsequent years.

 
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