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Notes to Accounts of Rishabh Digha Steel & Allied Products Ltd.

Mar 31, 2015

1. The Short Term Borrowings are Nil and Hence not Shown on the face of Balance Sheet.

2. Provision for Payment of Gratuity to employees is not made. The same is accounted in the year in which it is paid. Current Year an amount of 49,902/- has been paid. Contributions to defined contribution schemes such as gratuity are charged to Profit and Loss account as incurred. The Company also provides for retirement benefits in the form of gratuity and leave encashment.

3. Deferred Tax Asset for the Current Year has been provided in accordance with AS-22 & the same has been charged to Profit & Loss Account.

4. Provision for current tax is made after taking into consideration of benefits admissible under the provisions of Income Tax Act, 1961. Deferred tax resulting from "timing difference" between book and taxable profit is accounted for using the tax rates and laws that have been enacted as on the balance sheet date. The deferred tax asset is recognized and carried forward only to the extent that there is a reasonable certainty that the assets will be realized in future.

All the loans mentioned above are unsecured and are receivable on demand as and when required. All the above loans and advances is provided to employees and the same is provided free of Interest.

5. The Current Investments and Inventories are Nil and Hence not Shown on the face of the Balance Sheet.

6. In the opinion of the Board of Directors, the value on realization of Current Assets, Loans and Advances and Receivables if realized in the ordinary course of business, shall not be less than the amount at which they are stated in the Balance Sheet and Receivables and Loans and Advances including Capital Advances are Considered good and recoverable on an ongoing basis.

7. The balances of Deposits Given, Loans and Advances and Receivables are subject to Confirmation. There was no stock at start and close of accounting year.

As On As On Particulars 31.03.2015 31.03.2014

I) Contingent liability not provided for Nil Nil

II) Estimated amount of contracts remaining to be executed on capital account and not provided for. Nil Nil

III) Payments to auditors

(i) As Auditors 75.00 75.00

IV) C.I.F.Value of Imports,Expenditure and Earning in Foreign Currencies

(a) C.I.F. Value of Imports Nil Nil

(b) Expenditure in foreigh Currencies Nil Nil

(C) Earnings in Foreign Currencies Export Sales Nil Nil

V) Details of Licenced & Installed Capacity,Production,Stocks & Turnover

(a) Licenced Capacity

(b) Installed Capacity

(c) Production - Press Parts N.A. N.A.

(excluding on labour charges basis) N.A. N.A.

(d) Stocks at commencement

Goods Traded in Nil Nil

Finished Goods Nil Nil

(e) Stocks at close

Goods Traded in Nil Nil

Finished Goods Nil Nil

(f) Imported and indigenous raw material consumption

Indigenous Nil Nil

Imported Nil Nil

The additional information pursuant to the provisions of paragraphs 3,4C and 4D of part II of the schedule VI of

8) the Companies Act, 1956 to the extend they are applicable are given below :

I. Company is mainly engaged in the job work of Decoiling, Straightening, Cutting, Shearing of Hr. CR and MS Coils / Sheets. It has no precise licensed capacities and installed capacities as such.

II. Company has earned gross receipt of Rs.1,13,30,234/- (Previous year Rs.1,07,08,558.25/- ) on account of job work in respect of Decoiling, straightening and warehousing.

III. Details as regards trading Activities in finished goods. As there was no trading activity done during the year, the figures for current year would be NIL.


Mar 31, 2014

1. Provision for current tax is made after taking into consideration of benefits admissible under the provisions of Income Tax Act, 1961. Deferred tax resulting from "timing difference" between book and taxable profit is accounted for using the tax rates and laws that have been enacted as on the balance sheet date. The deferred tax asset is recognized and carried forward only to the extent that there is a reasonable certainty that the assets will be realized in future.

Note ''N'': Notes Forming Part of the Account

As On As On Particulars 31.03.2014 31.03.2013 Rs.(In ''000) Rs.(In ''000)

1) Contingent liability not provided for Nil Nil

2) Estimated amount of contracts remaining to be executed on capital account and not provided for. Nil Nil

3) Payments to auditors

(i) As Auditors 75.00 100.00

4) C.I.F.Value of Imports,Expenditure and Earning in Foreign Currencies

(a) C.I.F. Value of Imports Nil Nil

(b) Expenditure in foreigh Currencies Nil Nil

(C) Earnings in Foreign Currencies Export Sales Nil Nil

5) Details of Licenced & Installed Capacity,Production,Stocks & Turnover

(a) Licenced Capacity

(b) Installed Capacity

(c) Production - Press Parts N.A. N.A.

(excluding on labour charges basis) N.A. N.A.

(d) Stocks at commencement

Goods Traded in Nil Nil

Finished Goods Nil Nil

(e) Stocks at close

Goods Traded in Nil Nil

Finished Goods Nil Nil

(f) Imported and indigenous raw material consumption

Indigenous Nil Nil

Imported Nil Nil

The additional information pursuant to the provisions of paragraphs 3,4C and 4D of part II of the schedule VI of

6) the Companies Act, 1956 to the extend they are applicable are given below :

I. Company is mainly engaged in the job work of Decoiling, Straightening, Cutting, Shearing of Hr. CR and MS Coils / Sheets. It has no precise licensed capacities and installed capacities as such.

II. Company has earned gross receipt of Rs.1,07,08,558.25/- (Previous year Rs.2,02,05,730.00) on account of job work in respect of Decoiling, straightening and warehousing.

III. Details as regards trading Activities in finished goods. As there was no trading activity done during the year, the figures for current year would be NIL.

Note ''O'': Revenue from Operations

Note : The sales mainly consist of job work income. The income from Job work mainly includes recoveries for Decoiling, straightening, Cutting, shearing and warehousing and other small recoveries on account of loading and unloading, transportation charges.


Mar 31, 2013

1) Figures have been regrouped and rearranged wherever found necessary.

2) Figures in brackets represent figures of previous year.


Mar 31, 2012

Notes :

1. The Long Term Borrowings, Other Long Term Liabilities and Long Term Provisions are Nil and Hence not Shown on the face of Balance Sheet

2. Deferred Tax Liability for the Previous Year has been provided in accordance with AS-22 & the same has been charged to Profit & Loss Account. (Op.bal - Rs.6,06,874.15 Less Provided during the year - Rs.3,35,947.05 equal to Cl.bal. - Rs.2,70,927.10)

3. Provision for current tax is made after taking into consideration of benefits admissible under the provisions of Income Tax Act, 1961. Deferred tax resulting from "timing difference" between book and taxable profit is accounted for using the tax rates and laws that have been enacted as on the balance sheet date. The deferred tax liability is recognized and carried forward only to the extent that there is a reasonable certainty that the assets will be realized in future.

Notes :

1. The Short Term Borrowings are Nil and Hence not Shown on the face of Balance Sheet.

2. Provision for Payment of Gratuity to employees is not made. The same is accounted in the year in which it is paid. Current an amount of Rs.15,017/- has been paid. Contributions to defined contributioin schemes such as gratuity are charged to Profit and Loss account as incurred. The Company also provides for retirement benefits in the form of gratuity and leave encashment.

Notes :

1. Market Value of Equity Instruments as on 31/03/2012 is Rs.83,22,353.00 (Previous Year Rs.95,94,354.70).

2. Investments are valued at cost. Any temporary dilution has not been provided for as they are meant for long term.

Notes :

1. Deferred Tax Asset for the Current Year has been provided in accordance with AS-22 & the same has been charged to Profit & Loss Account. (Op.bal - (Rs.2,70,927.10) Add Provided during the year - Rs.4,26,310.00 equal to Cl.bal. - Rs.1,55,382.90). Below is the Working for the same :

2. Provision for current tax is made after taking into consideration of benefits admissible under the provisions of Income Tax Act, 1961. Deferred tax resulting from "timing difference" between book and taxable profit is accounted for using the tax rates and laws that have been enacted as on the balance sheet date. The deferred tax asset is recognized and carried forward only to the extent that there is a reasonable certainty that the assets will be realized in future.

Note :

All the loans mentioned above are unsecured and are receivable on demand as and when required. All the above loans and advances is provided to employees and the same is provided free of Interest.

Notes:

1. The Current Investments and Inventories are Nil and Hence not Shown on the face of the Balance Sheet.

2. In the opinion of the Board of Directors, the value on realization of Current Assets, Loans and Advances and Receivables if realized in the ordinary course of business, shall not be less than the amount at which they are stated in the Balance Sheet and Receivables and Loans and Advances including Capital Advances are Considered good and recoverable on an ongoing basis.

3. The balances of Deposits Given, Loans and Advances and Receivables are subject to Confirmation. There was no stock at start and close of accounting year.

Note 'O': Notes Forming Part of the Account

As On As On Particulars 31.03.2012 31.03.2011

Rs.(In '000) Rs.(In '000)

1) Contingent liability not provided for Nil Nil

2) Estimated amount of contracts remaining to be executed on capital account and not provided for. Nil Nil

The additional information pursuant to the provisions of paragraphs 3,4C and 4D of part II of the schedule VI 6) of the Companies Act, 1956 to the extend they are applicable are given below :

I. Company is mainly engaged in the job work of Decoiling, Straightening, Cutting, Shearing of Hr. CR and MS Coils / Sheets. It has no precise licensed capacities and installed capacities as such.

II. Company has earned gross receipt of Rs.4,61,25,038.15/- (Previous year Rs.5,90,81,253.14/-) on account of job work in respect of Decoiling, straightening and warehousing.

III. Details as regards trading Activities in finished goods. As there was no trading activity done during the year, the figures for current year would be NIL.


Mar 31, 2010

1. Estimated amount of contracts remaining to be executed on Capital Account (Net of Advance) and not provided for Rs. Nil (Previous Year Rs. Nil)

2. In the opinion of the Board of Directors, the value on realization of current Assets. Loans and Advances and Receivables if realized in the ordinary course of business, shall not be less than the amount at which they are stated in the Balance Sheet and Receivables and Loans and Advances including Capital Advances are considered goods and recoverable on an ongoing basis.

3. The balances of Sundry Creditors, Deposits Given, Loans and Advances and Receivables are subject to confirmation. There was no stock at close of accounting year.

4. The Trading activity is as such stopped by the company. Thus the sales mainly consist of job work income. The income from Job work mainly includes recoveries for Decoiling, straightening, Cutting, shearing and warehousing and other small recoveries on account of loading and unloading, transportation charges.

5. Deferred Tax Liability of Rs.325460/- since incorporation has been provided in accordance with AS-22 & the same has been charged to General Reserves. Current years Deferred Tax Liability has been charged to Profit & Loss A/c.

6. Pursuant to the agreements of Leave and License entered in to by the company, the following related parties have been paid rental charges for Machinery & Office Premises.

Current Year Previous Year

1. Digha Steel industries Pvt.Ltd. Rs 7,20,000 Rs.7,20,000

2. Ashok Maganlal Mehta (HUF) Rs 3,60,000 Rs.3,60,000

8. The additional information pursuant to the provisions of paragraphs 3,4C and 4D of part II of the schedule VI of the Companies Act, 1956 to the extend they are applicable are given below.

I. Company is mainly engaged in the job work of Decoiling, Straightening, Cutting, Shearing of Hr. CR and MS Coils/Sheets. It has no precise licensed capacities and installed capacities as such.

II. Company has earned gross receipt of Rs. 3, 13,63,240.74/-(Previous year Rs. 4, 78,95,266.41/-) on account of job work in respect of Decoiling, straightening and warehousing.

III. Details as regards trading Activities in finished goods.

As there was no trading activity done during the year, the figures for current year would be NIL.

B. The consumption of Materials, Stores and Spares is in the nature of small tools and accessories, which are required to be replaced on account of wear and tear in the ordinary course of business. The same does not admit for the quantitative details.

C. Value of imported and indigenous Material Stores and Spares consumed during the year.

All indigenous Rs. NIL (NIL)

D.C.I.F. Value of Import made Rs. Nil (Nil).

D. Expenses incurred and remittance made in Foreign Currency during the year Foreign Travels Rs.NIL(Rs. NIL)

E. Details of Foreign shareholdings and details of dividend remitted thereon are not applicable.

F. Earning in Foreign Exchange Rs. Nil (Nil).

7. Figures have been regrouped and rearranged wherever found necessary.

8. Figures in brackets represent figures of previous year.

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