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Notes to Accounts of Shree Karthik Papers Ltd.

Jun 30, 2015

1. TAXATION

The company has no liability towards income tax, due to its accumulated losses. Deferred tax Liability is recognized on timing differences of depreciation between Income Tax and Books of Accounts. The benefit of carry forward losses permissible, which company is certain to realize with future profit is arrived as Deferred Tax Asset. The Net of DTA and DTL are recognized in the financial statement.

2.. RELATED PARTY TRANSACTION

a) List of related parties :-

i) Keyb Management Personnel

M S Velu - Managing Director

Vignesh Velu -Director

ii) Other Related Parties

Shree Ganesh Gears Private Limited

The company manufactures and sells only one product, namely writing and printing papers. The company finds no risks involved in the revenue and expenses of the transaction

3. EXPENDITURE IN FOREIGN CURRENCY

a. Value of imports on CIF basis during the year NIL

b. Expenditure in Foreign Currency during the year NIL

c. Earnings in Foreign Currency during the year NIL

Net sales include sale of products manufactured exclusive of Excise Duty and Sales/VAT Tax charged to customers.

4. The Company has not received from its vendors/ suppliers about their status under the MSME Development Act 2006 and hence disclosing the amounts unpaid as at the end of the year.

5. Sundry Debtors, Creditors, Unsecured Loans and Loans and Advances are subject to confirmation and reconciliation and are stated at the book balance thereof. Similarly, the balance of Share Application money with Vysya Bank is subject to confirmation and reconciliation.

6. The company is not covered by ESI regulation.


Jun 30, 2014

The previous period figures have been regrouped/reclassified, wherever necessary to conform to the current presentation.

1. CONTINGENT LIABILITIES

Contingent liabilities have not been provided for. The same will be met as and when they arise.

2. SALES

Net sales include sale of products manufactured exclusive of Excise Duty and Sales/VAT Tax charged to customers.

3. Sundry Debtors, Creditors, Unsecured Loans and Loans and Advances are subject to confirmation and reconciliation and are stated at the book balance thereof. Similarly, the balance of Share Application money with Vysya Bank is subject to confirmation and reconciliation.

4. The company is not covered by E SI regulation.

5. TAXATION

The company has no liability towards income tax, due to its accumulated losses.

Deferred tax Liability is recognized on timing differences of depreciation between Income Tax and Books of Accounts. The benefit of carry forward losses permissible, which company is certain to realize with future profit is arrived as Deferred Tax Asset. The Net of DTA and DTL are recognized in the financial statement.

6. SEGMENT REPORTING

The company manufactures and sells only one product, namely writing and printing papers. The company finds no risks involved in the revenue and expenses of the transaction

7. Previous year figures have been regrouped / rearranged wherever necessary to confirm to this year''s classification / comparison


Jun 30, 2013

1 CONTINGENT LIABILITIES

Contingent liabilities have not been provided for. The same will be met as and when they arise.

2 SALES

Net sales include sale of products manufactured exclusive of Excise Duty and Sales/VAT Tax charged to customers.

The Company has.not received from its vendors/ suppliers about their status under the MSME Development Act 2006 and hence disclosing the amounts unpaid as at the end of the year.

3 Sundry Debtors, Creditors, Unsecured Loans and Loans and Advances are subject to confirmation and reconciliation and are stated at the book balance thereof. Similarly, the balance of Share Application money with Vysya Bank is subject to confirmation and reconciliation.

4 The company is not covered by E S I regulation.

5 Information pursuant to provisions of part II of Schedule VI to the Companies Act 1956.

6 TAXATION

The company has no liability towards income tax, due to its accumulated losses. >

Deferred tax Liability is recognized on timing differences of depreciation between Income Tax and Books of Accounts. The benefit of carry forward losses permissible, which company is certain to realize with future profit is arrived as Deferred Tax Asset. The Net of DTA and DTL are recognized in the financial statement.

7 SEGMENT REPORTING

The company manufactures and sells only one product, namely writing and printing papers. The company finds no risks involved irfthe revenue and expenses of the transaction.

8 Previous year figures have been regrouped / rearranged wherever necessary to confirm to this year''s classification / comparison


Jun 30, 2011

1. CONTINGENT LIABILITIES

Contingent liabilities have not been provided for. The same will be met as and when they arise.

2. SALES

Net sales include sale of products manufactured exclusive of Excise Duty and SalesA/AT Tax charged to customers. It comprises of direct sales and Depo Sales

The Company has not received from its vendors/ suppliers about their status under the MSME Development Act 2006 and hence disclosing the amounts unpaid as at the end of the year.

3. Sundry Debtors, Creditors, Unsecured Loans and Loans and Advances are subject to confirmation and reconciliation and are stated at the book balance thereof. Similarly, the balance of Share Application money with Vysya Bank is subject to confirmation and reconciliation.

4. The company is not covered by E S I regulation.

5. Information pursuant to provisions of part II of Schedule VI of the Companies Act 1956.

6. TAXATION

The company has no liability towards income tax, due to its accumulated losses.

Deferred tax Liability is recognized on timing differences of depreciation between Income Tax and Books of Accounts. The benefit of carry forward losses permissible, which company is certain to realize with future profit is arrived as Deferred Tax Asset. The Net of DTA and DTL is recognized in the financial statement.

7. RELATED PARTY TRANSACTION

a. Relationship : Associate Company Shree Ganesh Gears Pvt.,Ltd

b. Nature of Transactions : Purchase of wind energy power Rs.44,02,675/-

c. Outstanding balance as on 30.06.2011 : Rs.2,00,315/-

d. Amount Paid during the year : Rs. 1,28,03,525/-

8. SEGMENT REPORTING

The Company manufactures and sells only one product, namely writing and printing papers. The company finds no risks involved in the revenue and expenses of the transaction.

9. Previous year figures have been regrouped / rearranged wherever necessary to confirm to this year's classification / comparison.


Jun 30, 2010

1. CONTINGENT LIABILITIES

Contingent liabilities have not been provided for. The same will be met as and when they arise.

2. SALES

Net sales include sale of products manufactured exclusive of Excise Duty and SalesA/AT Tax charged to customers. It comprises of direct sales and consignment sales.

3. As required by MSME Development Act 2006, the dues outstanding for more than 45 days to Micro, Small and Medium Enterprises are given below:-

Jaya Enterprises Rs.4,44,969/-

Venkateswara Minerals Rs.2,64,676/-

Amaravathi Tubes Rs. 1,95,547/-

The Company has not received from its vendors/ suppliers about their status under the MSME Development Act 2006 and hence disclosing the amounts unpaid as at the end of the year.

4. Sundry Debtors, Creditors, Unsecured Loans and Loans and Advances are subject to confirmation and reconciliation and are stated at the book balance thereof. Similarly, the balance of Share Application money with Vysya Bank is subject to confirmation and reconciliation.

5. The company is not covered by E S I regulation,

6. Sri M S Velu, Managing Director and Smt S S Velu, Director, have provided their personal guarantee to the term loans availed by the company.

7 Information pursuant to provisions of part II of Schedule VI of the Companies Act 1956.

8. TAXATION

The company has no liability towards income tax, due to its accumulated losses.

Deferred tax Liability is recognized on timing differences of depreciation between Income Tax and Books of Accounts. The benefit of carry forward losses permissible, which company is certain to realize with future profit is arrived as Deferred Tax Asset. The Net of DTA and DTL is recognized in the financial statement.

9. RELATED PARTY TRANSACTION

a. Relationship Associate Company Shree Ganesh Gears Pvt.,Ltd

b. Nature of Transactions Purchase of wind energy power Rs.45,87,205/-

c. Outstanding balance as on 30.06.2010 : Rs.86,01,165/-

d. Amount Paid during the year : Rs. 34,80,789/-

10. SEGMENT REPORTING

The Company manufactures and sells only one product, namely writing and printing papers. The company finds no risks involved in the revenue and expenses of the transaction.

11. EXPENDITURE IN FOREIGN CURRENCY

a. Value of imports on CIF basis during the year NIL

b. Expenditure in Foreign Currency during the year NIL

c. Earnings in Foreign Currency during the year NIL

12. Previous year figures have been regrouped / rearranged wherever necessary to confirm to this years classification / comparison.

 
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