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Notes to Accounts of Piccadily Agro Industries Ltd.

Mar 31, 2015

1. RIGHT OF SHAREHOLDERS

A) Each Shareholder is entitled to one vote' per share.

B) Each Shareholder has the right in profit/surplus in proportion to amount paid up with respect to share holding.

C) In the event ol winding up, the equity shareholders will be entitled to receive the remaining balance of assets, it any, in proportionate to their individual shareholding-in the paid up equity capital of the company.

D) There is no change in the Number of Share outstanding at the beginning and at the end of the Financial year.

2.AYABLES & RECEIVABLES

Balance of certain sundry debtors, loans & advances (including capital advances), creditors and other liabilities are in process of confirmation/reconcilliation. The management is of the opinion that adjustment, if any, arising out of such reconciliation would not be material.

3. ADVANCES RECOVERABLE

In the opinion of the Board, the current assets, loans and advances are approximately of the value stated, if real- ized in the ordinary course of business. The provision for known liabilities is adequate and not in excess of amount reasonably necessary.

4. MICRO SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT, 2006

The company has not received intimation from suppliers regarding the status under Micro Small and Me- dium Enterprises Act 2006 and hence disclosures if any, relating to amounts unpaid as at the year end together with Development interest paid/pavable as required under the said Act have not been given.

5. REGROUPING OF FIGURES

The previous year figures have been recast/ regrouped whenever considered necessary to facilitate comparison, with Schedule III.


Mar 31, 2014

NOTE 1 PAYABLES & RECEIVABLES

Balance of certain sundry debtors, loans & advances (including capital advances), creditors and other liabilities are in process of confirmation/reconcilliation. The management is of the opinion that adjustment, if any, arising out of such reconcilliation would not be material.

NOTE 2 ADVANCES RECOVERABLE

In the opinion of the Board, the current assets, loans and advances are approximately of the value stated, if realized in the ordi- nary course of business. The provision for known liabilities is adequate and not in excess of amount reasonably necessary.

NOTE 3 MICRO SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT, 2006

The company has not received intimation from suppliers regarding the status under Micro Small and Medium Enterprises Act 2006 and hence disclosures if any, relating to amounts unpaid as at the year end together with Development interest paid/payable as required under the said Act have not been given.

NOTE 4 Regrouping of Figures

The previous year figures have been recast/ regrouped whenever considered necessary to facilitate comparison with revised Schedule XI.

As at As at 31st March, 2014 31st March, 2013

NOTE 5 CONTINGENT LIABILITIES

a. In respect of unassessed cases of Income Tax, Sales Tax, Nil Nil Excise Duty & Service Tax

b. Estimated amount of contracts remaining to be executed on capital account Nil Nil and not provided for (net of advances)

NOTE 6 PAYABLES & RECEIVABLES

Balance of certain sundry debtors, loans & advances (including capital advances), creditors and other liabilities are in process of confirmation/reconcilliation. The management is of the opinion that adjustment, if any, arising out of such reconcilliation would not be material.

NOTE 7 ADVANCES RECOVERABLE

In the opinion of the Board, the current assets, loans and advances are approximately of the value stated, if realized in the ordinary course of business. The provision for known liabilities is adequate and not in excess of amount reasonably necessary.

NOTE 8 MICRO SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT, 2006

The company has not received intimation from suppliers regarding the status under Micro Small and Medium Enterprises Act 2006 and hence disclosures if any, relating to amounts unpaid as at the year end together with Development interest paid/payable as required under the said Act have not been given.

NOTE 9 REGROUPING OF FIGURES

The previous year figures have been recast/ regrouped whenever considered necessary to facilitate comparison with revised Schedule XI.


Mar 31, 2013

NOTE 1 PAYABLES & RECEIVABLES

Balance of certain sundry debtors, loans & advances (including capital advances), creditors and other liabilities are in process of con- firmafai/reconcilliation. The management is of the opinion that adjustment, if any, arising out of such reconciliation would not be material.

NOTE 2 ADVANCES RECOVERABLE

In the opinion of the Board, the current assets, loans and advances are approximately of the value stated, if realized in the ordinary course of business. The provision for known liabilities is adequate and not in excess of amount reasonably necessary.

NOTE 3 MICRO SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT, 2006

The company has not received intimation from suppliers regarding the status under Micro Small and Medium Enterprises Act 2006 and hence disclosures if any, relating to amounts unpaid as at the year end together with Development inter- est paid/payable as required under the said Act have not been given.

NOTE 4 Regrouping of Figures

The previous year figures have been recast/ regrouped whenever considered necessary to facilitate comparison with revised Schedule XI.


Mar 31, 2012

NOTE 1 CONTINGENT LIABILITIES As at 31st March, 2012 As at 31st March, 2011

A. In respect of unassessed cases of Income Tax, Sales Tax, Amount Unascertained Excise Duty & Service Tax

A. The Company has identified Business Segments as primary Segments. The reportable business Segments are "Sugar" and Distillery.

B. The type of products in each business segments are as under:

1 Sugar: Sugar, Molasses and Bagasse

2 Distillery: - Ethanoi & Liquor

C Inter-divisional transfers have been valued at prevailing market price.

D There is no unallocated amount of revenue /expenses

E The Company is also converting resin into pet bottle, which is exclusively use for Liquor which is taken in Distillery Segment & hence no separate segment is reported for the same included in the distillery segment.

NOTE 2 BALANCE CONFIRMATION

Balance of certain Sundry Debtor, Loans & Advances(including capital advances), Creditors and other!iabilities(including asso- ciate company) are in process of confirmation/reconciliation. The management is of opinion that adjustment, if any, arising our - of such reconciliation would not be material.

NOTE 3 ADVANCES RECOVERABLE

In the opinion of the Board, the current assets, loans and advances are approximately of the value stated, if realized in the ordinary course of business. The provision for known liabilities is adequate and not in excess of amount reasonably necessary.

NOTE 4 MICRO SMALL AND MEDIUM ENTERPRISES DEVELOPMENT ACT 2006

Company has not received intimation from supplier regarding the status under Micro Small & Medium Enterprises Development Act 2006 and hence disclosure, if any, relating to amounts unpaid as at the year end together with the interest paid/payable as required under the said Act have not been given.


Mar 31, 2010

1. Contingent Liabilities: Current Year Previous Year

(Rs. in lacs) (Rs. in lacs)

a) Guarantee given to banks in respect NIL 1000 of advance given by banks to cane growers

2. Other Miscellaneous income includes interest income amounting to Rs.42.59 lacs (Rs. 28.86 lacs) on which TDS is deducted Rs. 4.26 lacs (Rs. 5.84 lacs).

3. Fixed deposit with banks of Rs 11.00 Lacs is under lien with Sales Tax Department, Haryana.

4. Investments of Rs 73.88Lacs (Rs 73.88 lacs) (At Cost) is consist of 1383871 Equity shares of Rs.10/- each fully paid up of Piccadily Sugar & Allied Industries Ltd. (Market value of Rs.6.36 per share) is long term investment.

5. The previous year expense of Rs.62.74 Lacs is net of the expenses relating to previous years of Rs.65.62 Lacs and Income relating to previous years of Rs.2.88 Lacs.

6. Interest charged under the head Financial Expenses in Profit & Loss Account includes interest on Term loans amounting to Rs.139.42 lacs (Rs. 19.40 lacs)

Notes :-

a) The Company has identified Business Segments as primary Segments. The reportable business Segments are "Sugar" and "Distillery".

b) The type of products in each business segments are as under:

1. Sugar: Sugar, Molasses and Bagasse

2. Distillery - Ethanol, Liquor

Inter-divisional transfers have been valued at prevailing market price.

d) There is no unallocated amount of revenue /expenses

7. Sundry Creditors and loan and advances are subject to confirmation, reconciliation and adjustment and the amount is unascer- tained.

8. In the opinion of the board, the current assets, loans and advances are approximately of the value stated, if realised in the ordi- nary course of business. The provision for known liabilities is adequate and not in excess of amount reasonably necessary.

9. Installment of term loans Payable with in one year period is Rs.466.94 lacs (Rs. 376.59 lacs)

10. In compliance with Accounting Standard 20 issued by The Institute of Chartered Accountants of India, the following informa- tion is disclosed for basic and diluted earning per share.

11. Advances recoverable in cash or kind amounting to Rs 2267.87 lacs (Rs 925.31 lacs) includes loans advanced Rs 630.99 ( Rs. 259.93 lacs) out of which Rs. 250.00 lacs (Rs.250.00 Lacs) are secured against Plant & Machinery and balance is unsecured. It also includes Rs 816.61 lacs as advances against shares.

12. The information as required by para 3,4c and 4D of part II of Schedule VI of the Companies Act,1956>

13. Figures in brackets relates to Previous Year.

14. Figures of the Previous Year have been regrouped and recast to make them comparable with those of current year wher- ever considered necessary.

 
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