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Notes to Accounts of Lead Financial Services Ltd.

Mar 31, 2014

1. (a) Terms/ Rights attached to equity shares

The company has only one class of equity shares having par value of Rs. 10 per share. Each Holder of Equity Shares is entitled to one vote per share.

The company declares and pays dividend in Indian Rupees.

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. The distribution will be in proportion to the number of equity shares held by shareholders.

2. Contingent Liabilities

In respect of Guarantees given in respect of loan taken by others, an amount not exceeding Rs. 6,89,00,000 (31 March, 2013: Rs. 6,89,00,000)

3. Capital & Other Commitments

Estimated amount of contracts remaining to be executed on Capital Accounts (Net of advances) Rs. Nil (31 March, 2013: Rs. Nil)

4. Segment Reporting

The company is a Non Banking Financial Company. Since there is only one segment in which company is operating, Segment Reporting as required under Accounting Standard-17 notified by the Companies (Accounting Standards) Rules, 2006 (as amended) is not applicable.

5. The company has not given any loans and advances in the nature of loan required to be disclosed pursuant to Clause 32 of the Listing Agreement.

6. No. provision has been made for Gratuity as no employee has completed qualifying period of service.

7. In the opinion of Board of Directors, all the current assets, loan & advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated, except those stated otherwise and that all known liabilities relating to the year have been provided for.

8. The Company is in the process of identifying suppliers who are Micro, Small & Medium Enterprises under the Micro, Small & Medium Enterprises Development Act, 06 & has yet to receive any written confirmation from them. Therefore, the disclosures required under section 22 of the said Act are not necessary.

9. Party balances are subject to confirmation from them.

10. Previous Year''s Figures

Previous period figures have been regrouped /recast to conform the current year classifications.


Mar 31, 2013

1. Contingent Liabilities

In respect of Guarantees given in respect ot loan taken by others, an amount not exceeding Rs. 6,89,00,000 (31 March, 2012: Rs. 6,50,00,000)

2. Capital & Other Commitments

Estimated amount of contracts remaining to be executed on Capital Accounts (Net of advances) Rs. Nil (31 March, 2012: Rs. Nil)

3. Segment Reporting ''

The company is a Non Banking Rnancial Company. Since there is only one segment in which company is operating, Segment Reporting as required under Accounting Standard-17 notified by the Companies (Accounting Standards) Rules, 2006 is not applicable.

4. The Company is in the process of identifying suppliers who are Micro, Small & Medium Enterprises under the Micro, Small & Medium Enterprises Development Act, 06 & has yet to receive any written confirmation from them. Therefore, the disclosures required under section 22 of the said Act are not necessary.

5. Parties balances are subject to confirmation from them.

6. Previous Year''s Figures period figures have been regrouped/ recast to conform to the current year classifications.


Mar 31, 2012

1. Contingent Liabilities

In respect of Guarantees given in respect of loan taken by others, an amount not exceeding Rs. 6.50 Crores.

2. Capital & Other Commitments

Estimated amount of contracts remaining to be executed on Capital Accounts (Net of advances) Rs. Nil (31 March, 2011: Rs. Nil)

3. Segment Reporting

The company is a Non Banking Financial Company. Since there is only one segment in which company is operating,

Segment Reporting as required under Accounting Standard-17 notified by the Companies (Accounting Standards) Rules, 2006 is not applicable.

4. Related Party Transactions

5. The company has not given any loans and advances in the nature of loan required to be disclosed pursuant to Clause 32 of the Listing Agreement.

6. No. provision has been made for Gratuity as no employee has completed qualifying period of service.

7. In the opinion of Board of Directors, all the current assets, loan & advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated, except those stated otherwise and that all known liabilities relating to the year have been provided for.

8. No dues are payable by the Company to the parties covered under Micro, Small & Medium Enterprises Development Act, 06.

9. Parties balances are subject to confirmation from them.

10. Previous Year's Figures

Till the year ended 31 March,2011, the company was using pre-revised Schedule VI to the Companies Act, 1956 for prepration and presentation of financial statements. During the year ended 31st March,2012, the Revised Schedule VI notified under Companies Act,1956 has become applicable to the Company. The adoption of Revised Schedule VI does not impact recognition and measurement principles followed for prepration for financial statements. However, it significantly impacts presentation and disclosures made in the financial statements, particularly presentation of Balance Sheet. As a result, previous years' figures have been regrouped/ reclassified to conform to this year's financial statements where necessary.


Mar 31, 2010

1. Contingent Liabilities Rs Nil (P.Year Rs. Nil).

2. Segment Reporting

4. Related Party Transactions:

1. Related Party Disclosures

A) Subsidiary Company: NIL

B) Names of related parties with whom transactions have taken place during the year.

Associates : LFS Securities Ltd LFS Services Pvt. Ltd.

b. Individuals owing significant shareholding and occupying, key management position and his relatives.

P.C.Bindal HUF .

Other key management person:

P.C.Binda(Chairman)

5. The company has not given any loans and advances in the nature of loan required to be disclosed pursuant to clause 32 of listing

6. Earning per Share :-

Calculation of Earning Per Share - Basic & Diluted

7. Estimated amount of contracts remaining to be executed on Capital Accounts (Net of advances) Rs. Nil (Pr. Year. Nil).

8. The company has created necessary statutory reserve as per the guidelines issued by the Reserve Bank of India.

9. Total Management remunerations paid/payable to the directors is Rs. 1,80,000/- (Pr. Yr. 1,20,000/-)

10. No. provision has been made for gratuity as no employee has completed qualifying period of service.

11. In the opinion of Board of Directors, all the current assets, loan & advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated, except those stated otherwise and that all the known liabilities relating

12. Previous year figures have been regrouped/ rearranged wherever necessary to make figures comparable.

13. All the figures are stated in Indian Rupees.

14. Schedule "A" to V are integral part of Balance Sheet and Profit and Loss Account.

 
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