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Notes to Accounts of Onesource Techmedia Ltd.

Mar 31, 2015

1. CONTINGENT LIABILITIES & COMMITMENTS : NIL

2. IPO DETAILS : The Company has raised an IPO during the financial year 2013-14. The Details are given below:

Issue Open May 17, 2013 - May 21, 2013

Issue Type Fixed Price Issue IPO

Issue Size 2,000,000 Equity Shares of Rs. 10 each

Issue Size Rs. 280.00 Lacs

Face value Rs. 10 per Equity Share

Issue Price Rs. 14 per Equity Share

Market Lot 10,000 Equity Shares

Listing at BSE - SME

3. SEGMENT REPORTING

The company is primarily engaged in the single business of Media & Event Management and there is no reportable secondary segment i.e. geographical segment. Hence, the disclosure requirement of Accounting Standard-17 "Segment Reporting" as notified by Companies (Accounting Standards) Rules, 2006 (as amended) is not applicable.

4. AMOUNT DUE FROM DIRECTORS/PARTIES/ COMPANIES IN WHICH DIRECTORS ARE INTERESTED, IN TERMS OF SECTION 185 OF THE COMPANIES ACT, 2013 : NIL

5. CONFIRMATION OF BALANCES/RECONCILIATION OF ACCOUNTS PERTAINING TO CERTAIN ADVANCES/CREDITORS/DEBTORS IS PENDING AS AT PERIOD END. HENCE, THE BALANCES HAVE BEEN ADOPTED AS PER THE BOOKS OF ACCOUNTS.

6. PREVIOUS YEAR'S FIGURES HAVE BEEN REGROUPED WHEREVER NECESSARY TO CONFORM TO CURRENT PERIOD'S CLASSIFICATION.

7. CONSEQUENT TO THE ENACTMENT OF THE COMPANIES ACT, 2013 (THE ACT) AND ITS APPLICABILITY FOR ACCOUNTING PERIODS COMMENCING FROM 1ST APRIL 2014, THE COMPANY HAS REASSESSED THE REMAINING USEFUL LIFE OF FIXED ASSETS IN ACCORDANCE WITH THE PROVISIONS PRESCRIBED UNDER SCHEDULE II TO THE ACT. THERE ARE NO ASSETS WHICH HAVE COMPLETED THEIR USEFUL LIFE. IN CASE OF OTHER ASSETS, THE CARRYING VALUE (NET OF RESIDUAL VALUE) IS BEING DEPRECIATED OVER THE REVISED REMAINING USEFUL LIFE. THE DEPRECIATION AND AMORTIZATION EXPENSES CHARGED FOR YEAR ENDED WOULD HAVE BEEN LOWER BY RS. 42,946/-, HAD THE COMPANY CONTINUED WITH THE PREVIOUS ASSESSMENT OF USEFUL LIFE OF SUCH ASSETS.


Mar 31, 2014

1. The company has one class of Equity shares having a par value of Rs. 10/- each. Each shareholder is eligible to one vote per share held.

In the Event of Liquidation of the Company, the holders of the 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 the shareholders.

2. CONTINGENT LIABILITIES & COMMITMENTS : NIL

3. SEGMENT REPORTING

The company is primarily engaged in the single business of Media & Event Management and there is no reportable secondary segment i.e. geographical segment. Hence, the disclosure requirement of Accounting Standard-17 "Segment Reporting" as notified by Companies (Accounting Standards) Rules, 2006 (as amended) is not applicable.

4. CONFIRMATION OF BALANCES/RECONCILIATION OF ACCOUNTS PERTAINING TO CERTAIN ADVANCES/CREDITORS/DEBTORS IS PENDING AS AT PERIOD END. HENCE, THE BALANCES HAVE BEEN ADOPTED AS PER THE BOOKS OF ACCOUNTS.

5. PREVIOUS YEAR''S FIGURES HAVE BEEN REGROUPED WHEREVER NECESSARY TO CONFORM TO CURRENT PERIOD''S CLASSIFICATION.


Mar 31, 2013

1. Contingent Liabilities & Commitments:

Particulars March 31, 2013 March 31, 2012

(A) Contingent Liabilities

(i) Claims against the company not acknowledged as debts NIL NIL

(ii) Guarantees

(iii) Other money for which the company is contingently liable Total (A) NIL NIL

(B) Commitments

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

(ii) Un-called liability on shares and other investments partly paid NIL NIL

(iii) Other commitments NIL NIL

Total (B) NIL NIL

Total [(A) (B)] NIL NIL

2. Segment Reporting

The company is primarily engaged in the single business of Media & Event Mangement and there is no reportable secondary segment i.e. geographical segment. Hence, the disclosure requirement of Accounting Standard-17 "Segment Reporting" as notified by Companies (Accounting Standards) Rules, 2006 (as amended) is not applicable.

3. Amount due from/ to company/ firm in which Directors are Interested : NIL

4. During the period, the company has entered into a Royalty Agreement with M/s. Saraa Media Works Private Limited where Mr. B. Sathya Prakash, Independent Director of the company, is also the Promoter Director in M/s. Saraa Media Private Limited, for the marketing of television/film contents owned by Saraa Media all over the world. The company has made a security deposit of Rs. 25 lakhs against the same agreement.

Also, the company has entered into a Media Agreement with Mrs. Mala Jhunjhunwala who is a relative of the director Mr. Kishan Kumar Jhunjhunwala. The company has made an advance of Rs. 12 lakhs against the same agreement.

Confirmation of balances/reconciliation of accounts pertaining to certain advances/creditors/debtors is pending as at period end. Hence, the balances have been adopted as per the books of accounts.

5. Previous year''s figures have been regrouped wherever necessary to conform to current period''s classification.

 
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