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Notes to Accounts of Santosh Fine - Fab Ltd.

Mar 31, 2014

NOTE NO.1- GRATUITY

Company has not gone for the actuarial valuation of gratuity which is the only form of long term defined benefits to the employee. Provision of the same has been thus not provided as the amount is uncertain. The company has a policy of accounting for gratuity as and when it is paid. However, during the year company has paid Rs. 106088 (Previous Year Rs. 147917) as gratuity which has been accounted for in the corresponding year

NOTENO.2- SEGMENT REPORTING

In the opinion of Management the company is engaged only in the business of fabrics, As such there is no Reportable Segment as per AS 17 "Segment Reporting" notified by Ministry Of Corporate Affairs".

NOTENO.3- CAPITAL COMMITMENTS & CONTINGENT LIABILITIES

i) Estimated amount of contracts remaining to be executed on Capital Accounts Nil (P.Y. Nil),

ii) The Banker of company has given guarantee of Rs 90000/-(P YNil) to the DGFT for wchich company has given conter guarantee & FDR of Rs 90000/-.

NOTENO.4- SUNDRY CREDITORS, DEBTORS & OTHER ADVANCES

The balances of Sundry creditor, Debtors & other advance are subject to confirmation

NOTENO.5- Previous year figure has been regrouped and rearranged whenever necessary and to make them comparable with current year''s figures.


Mar 31, 2013

NOTE NO.1. GRATUITY

Company has no! gone for the actuarial valuation of gratuity which is the only form of long term defined benefits to the ennoble Provision to the same- has been thus not provided as the amount is uncertam. The company has a policy of accounting for gratuity as and when it is paid. However, dung the year company has paid Rs. 147917 (Previous Year Rs.370215) as gratuity which has been accounted for in the corresponding year

NOTE NO.2- SEGMENT REPORTING

In the opinion of Management the company is engaged only in the business of fabrics. As such there is no Reportable Segment as per AS 17 "Segment Reporting" notified by Ministry Of Corporate Affaire".

NOTE NO 3. CAPITAL COMMITMENTS & CONTINGENT LIABILITIES

Fs tainted amount of contracts remaining lo be executed on Capital Accounts Nil IP.Y. Nil), Further there is no contingent lmbilii.es identified as on the Balance Sheet date. Further there are no Comment Liabilities as on 3Ist March 2011''

NOTE NO.4. SUNDRY CREDITORS. DEBTORS & OTHER ADVANCES

The balances old Sundry creditor. Debtor* & other advance arc subject to contention and reconciliation.

NOTE NO.5. Previous year figure has been regrouped and rearranged whenever necessary and to nuke them comparable with cement year''s figures.


Mar 31, 2012

Not Available


Mar 31, 2011

1.The Company has not provided Gratuity during the year as the same will be accounted as and when paid, however, during the year Company has paid Rs. 162877/-(P.Y. 166971 /-) as gratuity.

2. Deferred tax working

Major Components of Deferred Tax Balances

Net current deferred tax assets of Rs.8.09/- lacs have been credited to Profit & Loss Account.

3. The balances of Sundry debtors, Sundry creditors and other advances are subject to confirmation and reconciliation.

4. Previous year figures have been regrouped and rearranged wherever necessary to make them comparable with current year's figures.

e) GENERIC NAMES OF THREE PRINCIPAL PRODUCTS/SERVICES OF COMPANY (AS PER MONETARY TERMS)

The Company generates and sells only one product i.e. FABRIC.


Mar 31, 2010

1.The Company has not provided Gratuity during the year as the same will be accounted as and when paid, however, during the year Company has paid Rs. 166971/-(P.Y. 24844 /-) as gratuity.

Net current deferred tax assets of Rs.7.52 lacs have been credited to Profit & Loss Account.

2. The balances of Sundry debtors, Sundry creditors and other advances are subject to confirmation and reconciliation.

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

4. During the year company has received electricity rebate amounting to Rs.23.42 lacs shown as other income against payment made in earlier year, to the extend income has been increased for the year.

5. Previous year figures have been regrouped and rearranged wherever necessary to make them comparable with current years figures.

 
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