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Notes to Accounts of Sofcom Systems Ltd.

Mar 31, 2015

1. Terms /rights attached to shares issued subscribed & paid-up

The company has only one class of equity shares having a par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share. The company has not declared any dividend.

2. For the period of last five years from this Balance Sheet date the company has not allotted any bonus shares, or issued any shares for consideration other than cash or has bought back any shares.

3. Nature of Security and terms of repayment for Borrowings

Working capital loan from State Bank of India is secured by equitable mortgage on Flat no. 70, 7th Floor, Blue Haven, Mount Pleasant Road, Malabar Hill, Mumbai- 400006 in the name of director of the company and hypothecation of all fixed assets and entire current assets of the company.

Further secured by personal guarantee of the directors Sh. Kishore Mehta and Smt. Asha Mehta

There is no default in repayment of loan and interest as on the date of Balance Sheet.

4. 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.

5. No amount due/ payable to any Micro, Small & Medium Enterprises.

6. Segment Reporting

(a) Primary Segment (Business Segment) :-During the year the major operations of the company were trading operation, which constituted more than 90% of the total revenue of the company. Hence no separate disclosure of segments is required.

(b) Secondary Segment (Geographical Segment) : The entire sales of company is within India therefore it has only one geographical segment. Hence no separate disclosure of segments is required.

7. Contingent Liabilities:- NIL

8. In the opinion of management, loans & advances and investments are approximately of the value stated, if realised in the ordinary course of business unless and otherwise stated. The provisions of all liabilities are adequate and not in excess of the amount reasonably necessary.

9. C.I.F Value of Imports Nil Nil

10. F.O.B. value of exports Nil Nil

11. Expenditure in foreign currency Nil Nil

12. Expenditure in foreign currency Nil Nil

13. Disclosure as required by Accounting Standard - 18 on "Related Party Disclosures" issued by the Institute of Chartered Accountants of India are as follows :

a) Relationship

i. Key Management Personnel & their relatives

Mr. Kishore Mehta, Director Mrs. Asha Mehta

ii. Enterprises owned or significantly influenced by key management personnel or their relatives where transactions have taken place:

ABOK Spring Pvt. Ltd.

Quanta Plast Polymers Pvt. Ltd.


Mar 31, 2014

1. i. 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.

ii. No amount due/ payable to any Micro, Small & Medium Enterprises.

iii. The company has not recognised deffered tax asset on carry forward of tax losses and depreciation, as there is no virtual certainty that such deffered tax asset will be realised against future taxable profits.

2. SEGMENT REPORTING

(a) Primary Segment (Business Segment) : The Company''s operations comprises of only one segment i.e., Software Sale and Software Consultancy.

(b) Secondary Segment (Geographical Segment) : The entire sales of company is within India therefore it has only one geographical segment. Hence no separate disclosure in separate of segments required.

3. CONTINGENT LIABILITIES:- NIL

4. In the opinion of management, loans & advances and investments are approximately of the value stated, if realised in the ordinary course of business unless and otherwise stated. The provisions of all liabilities are adequate and not in excess of the amount reasonably necessary.

5. Figures have been rounded off to the nearest rupee.


Mar 31, 2013

1. The previous year''s figures hove been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and other disclosures for tile preceding year are included as on integral port of the current year financial statements and are to be read in relation to the amounts and other disclosures relating 10 the current year.

2. No amount due/ payable to any Micro, Small & Medium enterprises

3. The company has not recognised deffered tax csset on carry forward of tox losses end depreciation, as there is no virtual certointy that such deffered tax asset will be realised against future toxable profits.

4, Segment Reporting

a) Primary Segment (Business Segment) : The Company''s operations comprises of only one segment i.e., Consultancy.

b) Secondary Segment (Gegraphical Segment) : The entire soles of company is within India therefore it has only one geographical segment. Hence no separate disclosure in separate of segments required.

5. Contingent Liabilities:- NIL

6. In the opinion of management, loans & advances and investments are approximately of the value staled, if realised in the ordinary course of business unless and otherwise stated. The provisions of al liabilities are adequate and not in excess of the amount reasonably necessary.

7. Figures hove been rounded off to the nearest rupee.


Mar 31, 2012

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 os 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.

2. No amount due/ payable to any Micro. Small & Medium Enterprises.

3. The company has not. recognised deffered tax asset on carry forward of tax losses and depreciation, as there is no virtual certainty that such deffered fax asset will be realised against future taxable profits.

4. Seqment Reportinq

(a) Primary Segment (Business Segment) : The Company's operations comprises of only one segment i.e.. Consultancy.

(b) Secondary Segment (Gegraphical Segment) : The entire sales of company is within Indio therefore it has only one geographical segment. Hence no separate disclosure in separate of segments reouired.

5. Contingent Liabilities:- nil

6. In the opinion of management, loans & advances and investments ore approximately of the value slated, if realised in the ordinary course of business unless and otherwise staled. The provisions of all liabilities ore adequate and not in excess of the amount reasonably necessary.

7. C.I.F Value of Imports Nil Nil

8. F.O.B. value of exports Nil Nil

9. Expenditure In foreign currency Nil Nil

10. Disclosure as required by Accounting Standard - 18 on "Related Party Disclosures" issued by the Institute of Chartered Accountants of India ore as follows:

a) Relationship

i. Key Management Personnel & their relatives Mr. Kishore Mehta, Director Mrs. Asha Mehta

if. Enterprises owned or significantly influenced by key management personnel or their relatives where transactions have taken place: ABoK Spring Pvt. Ltd.

Note : Related party relationship is as identified by the company & relied upon by the Auditors:

11. Figures have been rounded off to the nearest rupee.


Mar 31, 2011

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

2. Deferred Tax. AS 22

The company has not recognised deffered tax asset on carry forward of tax losses and depreciation, as there is no virtual certainly that such def fared fox asset will be realised against future taxable profits.

3. segment Reporting

a) Primary Seernenl IBusInoss Segment) : The Company''s operations comprises Of only one Segment I.e.. Consellancy.

b) Secondary Segment (GegraphIcal Segment) : The entire solos of company is within India therefore it has only one geographical segment. Hence no separate disclosure in separate at segments required.

4. Contingent Liability NIL

5. In the opinion of management, sundry debtors, loons S. advances and investments cite approximately of the value slated, if realised in the ordinary course of business unless and otherwise stated. The provisions of all liabilities are adequate and not in excess of the amount reasonably necessary.

6. The Balance of Sundry Debtors, Creditors ,Loans & Advances and Investments are subject to confirmation.

7. Loans and advances includes a sum of Rs.44.35.250/- {Previous Year 45,92,250/-j due from Shri Kishoro Mehl° director of the company maximum amount Rs. ef.5,92,250/- (Previous Year 3.56,25.943/-).

 
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