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Notes to Accounts of Nutricircle Ltd.

Mar 31, 2015

1. The Financials of the company are prepared and present for a period of 12 months from 1st April 2014 to 31st March 2015 and previous period figure are for a period of 12 Months ended 31st March 2014.

2. Details of Auditors' Remuneration As Audit Fee :Rs.50,000/-(Previous year Rs.50000/-)

3. Related Party Disclosures

Related party disclosures, as required by AS-18, "Related Party Disclosures", of the Institute of Chartered Accountants of India are given below:

A) Name of the Related Parties and Nature of relationship based on Control.

Name of the Party Nature of Relationship

Hitesh M. Patel Managing Director

Bhavna H. Patel Relative of Director

i.The related parties are as under:

Hitesh M. Patel—Managing Director Key Management Personnel (KMP) namely:

S.No. Name of the KMP Holding Position as on year ending 31-03-2015.

1 Hitesh M. Patel— Managing Director

ii. Transactions with related party

During the period the company has made the following transactions with related parties :

Name of the Related Nature of Opening Transactions Party Transaction Balance during Period the Company Amount Amount in Rs. in Rs.

Hitesh M.Patel Unsecured loan 2158915 5572000

Relatives of Director Unsecured loan 2072429 2072429

Mr. Hitesh M. Patel and other directors.

Name of the Related Balance Party Outstanding as at 31st March 2015 Amount in Rs.

Hitesh M.Patel 7730915

Relatives of Director -

Mr. Hitesh M. Patel and other directors.

4. Sundry Debtors are subject to confirmations and the balances have not been confirmed by the individual debtors. Sundry Debtors balances are confirmed by the management.

5. Contingent Liabilities as on the date of Balance Sheet NIL

6. Schedules referred to in the financial statement form an integral part of accounts.


Mar 31, 2014

1. The Financials of the company are prepared and present for a period of 12 months from 1st April 2013 to 31" March 2014 and previous period figures are for a period of 12 Months ended 31" March 2013.

2. Details of Auditors'' Remuneration As Audit Fee :Rs.50,000/-(Previous year Rs.30000/-)

3. Related Party Disclosures

Related party disclosures, as required by AS-18, "Related Party Disclosures", of the Institute of Chartered Accountants of India are given below:

1. Sundry Debtors are subject to confirmations and the balances have not been confirmed by the individual debtors. Sundry Debtors balances are confirmed by the management.

2. Purchases and sales were made in the state of Maharashtra, and there is no inventory as on year ending 31st March 2014.

3. Contingent Liabilities as on the date of Balance Sheet NIL

4. Schedules referred to in the financial statement form an integral part of accounts.


Mar 31, 2013

1. FIXED ASSETS:

To state Fixed Assets at cost of acquisition inclusive of inward freight duties, taxes and incidental expenses related to acquisition.

2. VALUATION OF INVENTORY:

Cost or Market value whichever is lower and certified by the management.

3. DEPRECIATION:

The Depreciation is calculated on Written down method under Schedule xiv of the Companies Act, 1956.

4. RECOGNITION OF INCOME & EXPENDITURE:

Revenues/Incomes and Costs/Expenditures are generally accounted on the basis of as they are earned or incurred.

5. REVENUE RECOGNITION:

All the Expenses and income is recognized on accrual basis and provision is made for all known losses and liabilities. Revenue is recognized as per billings made to customers.

6. Previous Figures are regrouped/ rearranged wherever necessary when compared to the current year figures.

7. Particulars of Employees in accordance with Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) - NIL

8. Retirement benefits have not been provided in the books of accounts.

9. The Company has reviewed certain old debit balances carrying forward for long and based on the review, the Company has written off the following, as there is no chance of recovery. Hence written off


Mar 31, 2012

1. During the year No operations/ Production in the company.

2. Previous Figures are regrouped/ rearranged wherever necessary when compared to the current year figures.

3. Particulars of Employees in accordance with Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) - NIL

4. Retirement benefits have not been provided in the books of accounts.

5. The Company has reviewed certain old debit balances carrying forward for long and based on the review, the Company has written off the following, as there is no chance of recovery. Hence written off

 
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