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Notes to Accounts of Kriptol Industries Ltd.

Mar 31, 2015

1. Contingent liabilities and commitments (to the extent not provided for) -

(i) Contingent liabilities shall be classified as:

(a) Claims against the company not acknowledged as debt;

(b) Guarantees;

(c) Other money for which the company is contingently liable.

(ii) Commitments shall be classified as:

(a) Estimated amount of contracts remaining to be executed on capital account and not provided for;

(b) Uncalled liability on shares and other investments partly paid;

(c) Other commitments (specify nature).

2. The amount of dividends proposed to be distributed to equity and preference shareholders for the period and the related amount per share shall be disclosed separately. Arrears of fixed cumulative dividends on preference shares shall also be disclosed separately.

3. Where in respect of an issue of securities made for a specific purpose, the whole or part of the amount has not been used for the specific purpose at the balance sheet date, there shall be indicated by way of note how such unutilised amounts have been used or invested.

4. If, in the opinion of the Board, any of the assets other than fixed assets and non-current investments do not have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated, the fact that the Board is of that opinion, shall be stated.

6. 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.

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

8. 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. Contingent Liabilities & Commitment : Note 1

A Contingent Liabilities

i) Claim against the company not acknowledged

ii) Guarantees - -

B Commitments

i) Estimated amt. of contracts remaining to be executed on capital account and not provided for

ii) Uncalled liability on share and other investments parties

iii) Other Commitments - -

2. Pursuant to the Notification No.447 (E) dated February 28,2011 and Notification No.653 (E) dated March 30, 2011, issued by the Ministry of Corporate Affairs, the Company has prepared its financial statements for the year ended March Rs. 31, 2014 as per revised schedules VI to the Companies Act, 1956. Accordingly, the previous year''s figures have been regrouped / reclassified, wherever required to align the financial statements to the revised format.

3. a. Balance on sundry Creditors and Loans are subject to confirmation and reconciliation from respective parties.

b. In the opinion of the Board of Director of the Company aggregate value of current Assets, Loans & Advances on realization in the ordinary course of business will not be less than the amount at which these stated in the Balance Sheet.

c. Previous year figures have been regrouped reclassified wherever necessary.

d. Amounts are rounded off to the nearest rupee.


Mar 31, 2013

A. Balance on sundry Creditors and Loans are subject to confirmation and reconciliation from respective parties.

b. In the opinion of the Board of Director of the Company aggregate value of current Assets, Loans & Advances on realization in the ordinary course of business will not be less than the amount at which these stated in the Balance Sheet.

c. Previous year figures have been regrouped / reclassified wherever necessary.

d. Amounts are rounded off to the nearest rupee.


Mar 31, 2010

1) There are no contingent liabilities nor provided for.

2) Depreciation has been provided on assets as per WDV method by the company.

3) The value of realization of Current Assets, Loans and Advances in the ordinary course of business will not be less than the value at which they are started in the balance sheet.

4) Auditors remuneration is as under :

a) Audit fees Rs. 44120/- (Pry.Yr. Rs. 44120/-)

b) Income Tax matter Rs. Nil/- (Prv. Yr. Rs. NIL)

c) Other Matters Rs. Nil/- (Prv. Yr. Rs. NIL)

5) No related party transactions taken place during the year.

6) The additional Information pursuant to the provision of the paragraph 3, 4C, and 4D of Part-II of schedule Vi to the companies Act, 1956 has been furnished to the extend possible and applicable because of the nature of the business of the company.

7) The previous year figure has been regrouped and/or rearranged wherever necessary.


Mar 31, 2009

1 Paise are rounded up to the nearest rupee

2. Previous year figures are regrouped and rearranged whereever necessary.

3. ACCOUNTING FOR TAXES OF INCOME

The Company has got unabsorbed depreciation and carry forward losses under tax laws and there is not virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deterred tax asset can be realised and therefore there is no requirement for any adjustment of taxes on income/loss.

4, We have verified the vouchers and documentary evidences wherever made available. Where no documentary evidences were available, we relied on the authentication given by the management.

 
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