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Notes to Accounts of Moryo Industries Ltd.

Mar 31, 2015

Identification of Segments :

The Companie's operating business are organised and managed saparately according to the nature of business, with each segment A) representing a stretegic business unit that offers different product in different market. The company has identified two business segment- advancing loans/trading of shares and textile busines.

B) In the context of Accounting Standard issued by institute of chartered accountant of india, Company has identified business segment as the primary segment for the purpose of disclosure.

NOTE-1. Contingent Liabilities

In compliance of the accounting Standard -29 on Provisions, Contingent Liabilities and Contingent Assets No Contingent Liabilities there are no such contingent liabilities as therefore no provision for contingent liabilities provided during the year.

NOTE-2.

In the opinion of the Board, the Current Assets, Loans and Advances have a value on realization In the ordinary course of business at least equal to the amount which they are stated in the Balance Sheet and provision for all known and determined liabilities is adequate and not in Excess of amount reasonably required. Further all balances are subject to confirmation to the extend available on records. However, as per management representation all loans and advances given are scheduled as short term basis and subject to loan agreements.

NOTE-3

The Company has inventories of Quoted securities of and devalued from 244.77 Lacs.

NOTE- 4. Other Notes

I. Previous year's figures have been regrouped, rearranged and reclassified wherever necessary to conform to the current's classification/ presentation.

II. Figures have been rounded off to nearest rupee.

III. Employee benefits - Provision for retirement benefits to employees was not provided on accrual basis, which is not in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Profit & Loss Account

IV. The company does not have Internal Auditors to conduct of Internal Audit.

V. As per information available with the Company, none of the creditors has confirmed that they are registered under the Micro, Small and Medium enterprises Development Act, 2006


Mar 31, 2014

1. Provision of Deferred Tax made during the year is Rs.3,84,903/-. Deferred tax resulting from timing difference between book and tax profit/loss is accounted under the liability method using the tax rates and laws that have been substantively enacted as of the balance sheet date, to the extent that the timing difference are expected to crystallize.

2. There is no impairment of assets as per AS 28 issued by ICAI.

3. In the opinion of the Board, the Current Assets, Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount which they are stated in the Balance Sheet and provision for all known and determined liabilities is adequate and not in Excess of amount reasonably required. Further balances are subject to confirmation.

4. Previous year figures have been regrouped, reclassified and recast wherever considered necessary.

5. Figures have been rounded off to nearest rupee.


Mar 31, 2013

1. RELATED PARTY TRANSACTION:

List of Related Parties:- a) Key Management person

i) Manoharlal Saraf ii) Geeta Saraf

b) Related parties over which Key Management Personnel have Significant Influence :-

i) Manoharlal Saraf ii) Mohanlal Jain iii) Indo Plast

2. Income in Foreign Currency NIL

3. Expenditure in Foreign Currency NIL

4. As per information available with the Company, none of the creditors has confirmed that they are registered under the Micro, Small and Medium enterprises Development Act, 2006.

5. Provision for retirement benefits to employees was not provided on accrual basis, which is not in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Profit & Loss Account.

6. Trade payable, Trade receivables, Short Term Borrowings and Short Term loan and advances balances are subject to confirmation and reconciliation.

7. Segment Information: The Company is engaged in single segment and there are no separate reportable segments as defined in AS-17.

8. Previous year''s figures have been regrouped, rearranged and reclassified wherever necessary to conform to the current''s classification/ presentation.


Mar 31, 2012

The previous year figures have been regrouped/reclassified, wherever necessary to conform to the current presentation conform to the current presentation.

There are no dues to Micro Small and Medium Enterprises. The same is disclosed on the basis of information available with the company and has been relied upon by the auditors.

1.1 SEGMENT REPORTING

Segment Information for the year ended 31st March, 2012

In the opinion of the management, the company is mainly engaged in the trading in Textile Items. All activities of the company revolve around the main business and such there are no separate reportable segments. As there is no export turnover, there are no reportable geographical segments

1.2 Balances of Sundry Debtors, Sundry Creditors, Loans & Advances are subject to confirmation and consequential adjustments, if any

1.3 In the opinion of the Board, amounts of Current Assets, Loans & Advances have a value on realisation in the ordinary course of business at least equal to at which they are stated.


Mar 31, 2011

1. The previous year's figures have been reworked, regrouped, rearranged and reclassified, wherever necessary. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.

2. Contingent Liabilities Nil

3. In the opinion of the Board the Current Assets and Loans & Advances are approximately of the values stated if realised in the ordinary course of business. The provision for depriciation and known liability is adequate and not in excess of the amount reasonably necessary.

4. The additional information pursuant to the provisions of Para 3, 4C and 4D of the Part II of the Companies Act, 1956 are NIL.

5. Balance Sheet abstract and general profile of the company is enclosed herewith.

 
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