Home  »  Company  »  PH Trading  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of PH Trading Ltd.

Mar 31, 2014

1. (a) Previous year''s figures have been ed / recasted wherever necessary.

(b) The above cash flow has been pre der "Indirect Method" as prescribed under Accounting Standard 3 notified in Companies (accounting Standards) Rules, 2006

( c) Cash & Cash Equivalents as of March 31, 2014 and March 31, 2013 include restricted Cash & Bank balances.The restrictions are primarily on account of Bank balances held as margin money against letter of credit.

d) There has been no change/movements in number of shares outstanding at the beginning and at the end of the reporting period.

e) Terms / rights attached to Equity Shares The Company has only one class of Equity Shares having a par value of Rs. 10/- per share. Each holder of Equity shares is entitled to one vote per share and equal right for dividend. The dividend proposed by the board of Directors is subject to the approval of Shareholders in the ensuing Annual General Meeting, except in case of Interim dividend. In the event of Liquidation, the equity shareholders are eligible to receive the remaining assets of the company after payment of all preferential amounts, in proportion of their shareholding.

f) The company does not have any Holding Company, .ultimate Holding Company or Subsidiary Company.

Security Clause:

Primary Security- Hypothecation of stock of goods situated at present and future premises of the company and other movables including book debts, bills and receivables, both present and future.

Collateral Security- Exclusive hypothecation of office space at 113, Park Street, Unit No. 4 on 10th Floor, "Poddar Point". Kolkata 700 016.

Exclusive hypothecation of Residential Flat No. 3E, 3rd Floor, Block ''A'' at 238, N S C Bose Road, Kolkata 700 040 having super built up area of 984 sq. ft.

Exclusive hypothecation of office space No. 402-B, on 4th Floor situated at Plot No. D-7, Bearing City Sutvey No. 634 of Oishwara held in the name of Welcome Suppliers Pvt. Ltd.

Personnel Guarantee- The loan has been guaranteed by the personal guarntee of four directors of the company and a body corporate.

2. Contingent Liabilities not provided for in respect of:

Claims against the company pending in court not acknowledged as debts, amount unascertainable.

Letter of Credit-Rs.40,446,516/-

3. Fixed Deposit of Rs. 5,476,616/- for the financial year 2013-14 is against letter of Credit & Fixed Deposit of (Rs. 1,436,303/-) for the Financial year 2012-13 is against Letter of Credit.

4. The company has deposited F.D.R. of Rs. 5,000/- with the commissioner of sales tax as security for the issue of blank ''C'' forms.

5. Defined Benefit Plan

The present value of obligation is determined based on acturiai valuation using the Projected Unit Credit Method, which recognises each period service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

6. As the Company is engaged in Trading Business only, disclosures as requiredbyAS-17(SegmentReportingare not applicable).

7. There is no amount outstanding towards Investor Education & Protection Fund as on 31.03.2014.

8. No Provision has been considered necessary for diminution in value of Long Term Investment being temporary in nature.

9. Disciosure of Sundry Creditors undercurrent Liabilities is based on the information available with the company regarding the status of the suppliers as defined under the "Micro, Small and Medium Enterprises on account of pricipal amount together with interest, aggregate to Rs. NIL (Previous Year Rs. NIL)

a) There is no outstanding amount written off on the above during the year.

b) Guarantee taken against Bank loan from four directors and from associate company (Welcome Suppliers Pvt. Ltd.)

c) Security (Office space) taken from an Associate Company (Welcome Suppliers Pvt. Ltd.)

d) The company has granted unsecured loan to one of the company where two directors of the company are interested.However, the company has charged interest more than rate prescribed as bank rate by RBI. The refund of the said loan is beng made.

10. The company has a deposit in NSC which was purchased in the name of Madhuri Devi Himatsingka being sole Propri- etress of M/s. K. Kumar and Co. during the Financial Year 2011-2012 for obtaining Sugar License and placed in favour of Rationing Officer, Park Street, Kolkata - 700 016. Consequently M/s. K. Kumar & Co. was taken over by the company w.e.f. 1 st day of April, 2012 and all the assets of M/s. K. Kumar & Co. becomes assets of the company vide agree- ment dated 01.04.2012.

As the asset acquired is in the nature of deposit in NSC, the ownership of the asset is not transferable in the name of the company. Accrued interest on such NSC has not been accounted for during the financial year ended 31.03.2014.

11. Debit and credit Balances of Debtors, Creditors and Loans and Advances appearing in the Balance Sheet are subject to confirmation and reconciliation, if any, from the concerned parties.

12. Deffered tax assets of Rs. 45,370/- (Rs. 67,690/-) on account of timing difference such as depreciation and gratuity etc.

13. The previous year figures have been regrouped and rearranged wherever necessary.


Mar 31, 2011

1. Contingent Liabilities not provided for in respect of :

Claims against the company pending in court not acknowledged as debts, amount unascertainable.

2. Other Advances includes Rs. 101,000/- against which the Company has filed a suit for recovery.

3. Fixed Deposit Rs. 1,400,000/- (Rs. 1,000,000/-) pledged with Oriental Bank of Commerce Park Street Branch against Bank Guarantee of Rs. 50 Lacs (Rs. 100 Lakhs) and Rs. 5,000/- (Rs. 5,000/-) with the Commissioner of Sales Tax as security for the issue for blank C Forms and Form 14.

4. Defined Benefit Plan

The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognises each period service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

5. Gratuity:

I. Expenses recognised during the year under the head "Salary and Allowances"

6. As the Company is engaged in Trading Business only, disclosures as required by Accounting Stan- dard -17 (Segment Reporting) are not applicable.

7. There is no amount outstanding towards Investor Education & Protection Fund as on 31.03.2011.

8. Previous Year figures have been regrouped wherever necessary.

9. No Provision has been considered necessary for diminution in value of Long Term Investment being temporary in nature.

10. Disclosure of Sunday Creditors under Current Liabilities is based on the information available with the company regarding the status of the suppliers as defined under the "Micro, small and medium Enterprises on account of principal amount together with interest, aggregate to Rs. NIL (Previous Year Rs. NIL)

11. A) Name of the related party Relationship

(a) Abhishek Chemicals Pvt. Ltd. Associate Company

Davesh Developers Pvt. Ltd. Associate Company

P. C. Properties Pvt. Ltd. Associate Company

Swan Silver Wares Pvt. Ltd. Associate Company

Variable Plaza Pvt. Ltd. Associate Company

AH Chemicals Pvt. Ltd. Associate Company

Welcome Suppliers Pvt. Ltd. Associate Company

Himatsingka Chemicals Pvt. Ltd. Associate Company

Jamuna Commodities (p) Ltd. Associate Company

Amjay Chem. Trade Pvt. Ltd. Associate Company

(b) Prakash Himatsingka Key Managerial Personnel

Ajit Kr Bhuwalka Key Managerial Personnel

Ashok Kr. Jhanwar Key Managerial Personnel

Abhishek Himatsingka Key Managerial Personnel

Prakash Chandra Vikram Kumar (HUF) Enterprise over which KMP having influence

Binayak Prasad Prakash Chandra (HUF) Enterprise over which KMP having influence

Amjay Chemicals Enterprise over which KMP having influence K. Kumar & Co. Enterprise over which KMP having influence

Sumit Kuamr Jhanwar Relative of Director

Note : Related Party Relationship is as identified by the Company and relied by Auditors.

C) There is no outstanding amount written off on the above during the year.


Mar 31, 2010

1. Contingent Liabilities not provided for in respect of :

Claims against the conpany pending in court not acknowledged as debts, amount unascertainable.

2. The Company has changed the rate of depreciation from rates prescribed under the Income Tax, 1961 to rates prescribed under Sec. XIV of the Companies Act, 1956 retrospectively in the year 2008 - 09. Due to this change the figures of net Fixed Assets and Reserves and Surplus as at 31.03.09 has increased by Rs. 38745. Had the Company continued charging depreciation as per IT depreciation would be higher by Rs. 7461/- consequently profit for the year would be lower by Rs. 7461/-.

3. Other Advances includes Rs. 101,000/- against which the Company has filed a suit for recovery.

4. Fixed Deposit Rs. 1,000,000/- (Rs. 1,750,000/-) pledged with Oriental Bank of Commerce Park Street Branch against Bank Guarantee of Rs. 100 Lacs (Rs. 175 Lakhs) and Rs. 5,000/- (Rs. 5,000/-) with the Commissioner of Sales Tax as security for the issue for blank C Forms and Form 14.

5. Defined Benefit Plan

The present value of obligation is determined based on acturial valuation using the Projected Unit Credit Method, which recognises each period service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

6. Gratuity:

I. Expenses recognised during the year under the head "Salary and Allowances"

7. As the Company is engaged in Trading Business only, disclosures as required by Accounting Stan- dard -17 (Segement Reporting) are not applicable.

8. There is no amount outstanding towards Investor Education & Protection Fund as on 31.03.2010.

9. Previous Year figures have been regrouped wherever necessary.

10. No Provision has been considered necessary for diminution in value of Long Term Investment being temporary in nature.

11. Disclosure of Sunday Creditors under Current Liabilities is based on the information available with the company regarding the status of the suppliers as defined under the "Micro, smalt and medium Enterprises on account of pricipal amount together with interest, aggregate to Rs. NIL (Previous Year Rs. NIL)

12. A) Name of the related party Relationship

(a) Abhishek Chemicals Pvt. Ltd. Associate Company

Davesh Developers Pvt. Ltd. Associate Company

P. C. Properties Pvt. Ltd. Associate Company

Swan Silver Wares Pvt. Ltd. Associate Company

Variable Plaza Pvt. Ltd. Associate Company

AH Chemicals Pvt. Ltd. Associate Company

Welcome Suppliers Pvt. Ltd. Associate Company

Himatsingka Chemicals Pvt. Ltd. Associate Company

Amjay Chem. Trade Pvt. Ltd. Associate Company

(b) Prakash Himatsingka Key Managerial Personnel

Ajit Kr Bhuwalka Key Managerial Personnel

Ashok Kr. Jhanwar Key Managerial Personnel

Amjey Chemicals Key Managerial Personnel

Abhishek Himatsingka Key Managerial Personnel

Prakash Chandra Vikram Kumar (HUF) Enterprise over which KMP having influence

Binayak Prasad Prakash Chandra (HUF) Enterprise over which KMP having influence

K. Kumar & Co. Enterprise over which KMP having influence

Nirmal Himatsingka Rice & Saw Mills Enterprise over which KMP having influence

Sumit Kumar Jhanwar Relative of Director

Note : Related Party Relationship is as identified by the Company and relied by Auditors.

C) There is no outstanding amount written off on the above during the year.


Mar 31, 2009

1. Contingent Liabilities not provided for in respect of:

Claims against the conpany pending in court not acknowledged as debts, amount unascertainable.

2. The Company has changed the rate of depreciation from rates prescribed under the Income Tax Act, 1961 to rates prescribed under Sec. XIV of the Companies Act, 1956 retrospectively. Due to this change the figures of net Fixed Assets and reserves and Surplus as at 31.03.09 has increased by Rs. 38,745. Had the Company continued charging depreciation as per IT depreciation would be higher by Rs. 7,461/- consequently profit for the year would be lower by Rs. 7,461/-.

3. Other Advances includes Rs. 101,000/- against which the Company has filed a suit for recovery.

4. Fixed Deposit Rs. 1,750,000/- (Rs. 1,968,370/-) pledged with Oriental Bank of Commerce Park Street Branch against Bank Guarantee of Rs. 175 Lacs (Rs. 200 Lakhs) and Rs. 5,000/- (Rs. 5,000/-) with the Commissioner of Sales Tax as security for the issue for blank C"Froms and Form 14.

5. Motor Car includes Rs. 762,953/- (Rs. 762,953/-) under Hire Purchase Scheme. Future Interest Pay- able on car purchased under said scheme amounting to Rs. 4,781/- (Rs. 27,173/-)

6. Defined Benefit Plan

The present value of obligation is determined based on acturial valuation using the Projected Unit Credit Method, which recognises each period service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

7. As the Company is engaged in Trading Business only, disclosures as required by Accounting Stan- dard -17 (Segement Reporting) are not applicable.

8. There is no amount outstanding & payable to Investor Education & Protection Fund as on 31.03.2009.

9. Previous Year figures have been regrouped wherever necessary.

10. No Provision have been considered necessary for diminution in value of Long Term Investment being temporary in nature.

11. Disclosure of Sundry Creditors under Current Liabilities is based on the information available with the company regarding the status of the suppliers as defined under the "Micro, small and medium Enterprises on account of pricipal amount together with interest, aggregate to Rs. NIL (Previous Year Rs. NIL)

12. A) Name of the related party Relationship

(a) Abhishek Chemicals Pvt. Ltd. Associate Company

Davesh Developers Pvt. Ltd. Associate Company

P. C. Properties Pvt. Ltd. Associate Company

Swan Silver Wares Pvt. Ltd. Associate Company

Variable Plaza Pvt. Ltd. Associate Company

AH Chemicals Pvt. Ltd. Associate Company

Welcome Suppliers Pvt. Ltd. Associate Company

Himatsingka Chemicals Pvt. Ltd. Associate Company

(b) Prakash Himatsingka Key Managerial Personnel

Ajit Kr Bhuwalka Key Managerial Personnel

Ashok Kr. Jhanwar Key Managerial Personnel

Abhishek Himatsingka Key Managerial Personnel

Prakash Chandra Vikra rn Kumar (HUF). Enterprise over which KMP having influence

Binayak Prasad Prakash Chandra (HUF) Enterprise over which KMP having influence

K. Kumar & Co. Enterprise over which KMP having influence

Nirmal Himatsingka Rice & Saw Mills Enterprise over which KMP having influence

Sumit Kumar Jhanwar Relative of Director

Note : Related Party Relationship is as identified by the Company and relied by Auditors.

C) There is no outstanding amount written off on the above during the year.

13. Additional Information pursuant to the provisions of Paragraph 3 & 4 of part-ll of Schedule VI of the Companies Act, 1956.

Find IFSC