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Notes to Accounts of Sawaca Business Machines Ltd.

Mar 31, 2015

1. The previous year's figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.




Mar 31, 2014

1) Basis of Preparation:

The financial statements have been prepared to comply in all material respects with the Accounting Standards notified by Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared under the historical cost convention on an accrual basis. The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year.

All assets and liabilities have been classified as current or non-current as per the Company''s normal operating cycle and other criteria set out in the schedule VI to the Companies Act, 1956. Based on the nature of products and the time between the acquition of assets for processing and their realization in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current – non current classification of assets and liabilities.

2 The previous year''s figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.


Mar 31, 2013

1) Basis of Preparation:

The financial statements have been prepared to comply in all material respects with the Accounting Standards notified by Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared under the historical cost convention on an accrual basis. The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year.

All assets and liabilities have been classified as current or non-current as per the Company''s normal operating cycle and other criteria set out in the schedule VI to the Companies Act, 1956. Based on the nature of products and the time between the acquition of assets for processing and their realization in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current - non current classification of assets and liabilities.

Notes:

1. The above cash flow statement has been prepared under the ''Indirect Method'' as set out in the Accounting Standard on Cash Flow Statement (AS-3) issued by Companies (Accounting Standard) Rules, 2006.

2. Previous years'' figures have been rearranged and/pr regrouped wherever necessary.


Mar 31, 2012

1. Contingent Liabilities-NIL

2. As per the information available with the company there is no amount due but remaining unpaid as on 31st March, 2012 to any supplier who is a Small Scale or Ancillary industrial Undertaking.

3. The current assets. Loans and advances, sundry debtors and sundry creditors are subject to reconciliation and confirmation from the respective parties and are taken as certified by the management.

4. In the opinion of the Board, current assets, loans and advances are approximately of the valued stated if realized in the ordinary course of the business. The provisions for all known liabilities are adequate.

5. The company is a partner in partnership firm, M/s. Vishal Corporation_. The details of the partners of the said firm and their profit sharing ratio are as under:

6. Previous year's figures are regrouped or recast wherever necessary to make them comparable to those of the current year.

7. Information &s to the licensed capacity, installed capacity, the quantitative details of the Opening stocks, purchases, sales and closing stocks are not applicable.

8. In our opinion necessary provision for taxation has been made in the accounts.

9. Earnings and expenditure in foreign currencies: NIL


Mar 31, 2010

1. Contingent Liabilities-NIL

2. As per the information available with the company there is no amount due but remaining unpaid as on 31st March, 2010 to any supplier who is a Small Scale or Ancillary industrial Undertaking.

3. The current assets. Loans and advances, sundry debtors and sundry creditors are subject to reconciliation and confirmation from the respective parties and are taken as certified by the management.

4. In the opinion of the Board, current assets, loans and advances are approximately of the valued stated if realized in the ordinary course of the business. The provisions for all known liabilities are adequate.

5. The company is a partner in partnership firm, M/s. Sawaca Services. The details of the partners of the said firm and their profit sharing ratio are as under :

Mahendra A. Shah 10%

Sawaca Business Machines ltd. 90 %

6. Previous years figures are regrouped or recast wherever necessary to make them comparable to those of the current year.

7. Information as to the licensed capacity, installed capacity, the quantitative details of the Opening stocks, purchases, sales and closing stocks are not applicable.

8. In our opinion necessary provision for taxation has been made in the accounts.

9. Earnings and expendture in foreign currencies: NIL

Notes:

1. The above cash flow statement has been prepared under the Indirect Method as set out in the Accounting Standards on Cash Flow Statement (AS-3) issued by companies ( Accounting Standards) rules, 2006.

2. Previous Years Figure have been rearranged and/or regrouped wherever necessary.

 
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