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Notes to Accounts of Sreeleathers Ltd.

Mar 31, 2015

1. SEGMENT REPORTING

The Company operates in a single segment, hence segment reporting as required under Accounting Standard 17 issued by the Institute of Chartered Accountants of India, is not applicable.

2.RELATED PARTY DISCLOSURE

Nature of Relationship

Parties where common control exists:

- M/s Sreeleathers

- Sumanta Susanta Overseas (P) Ltd

- Upkar Vinimay (P) Ltd

- Duel Leather Dzines (P) Ltd

- Tug Overseas (P) Ltd Key Managerial Personnel:

- Satya Brata Dey

Note: Related party relationship is as identified by the company and relied upon by the auditors.

3. Disclosures under Section 22 of the Micro, Small and Medium Enterprises development Act, 2006 could not be furnished as none of the suppliers of the company have provided the details of their registration under the said act.

4. Balances of trade receivables, trade payables and loans & advances are subject to confirmation and consequential adjustments, if any.

5. In the opinion of the board, current assets, loans and advances have value in the ordinary course of business at least equal to the amount at which they are stated.

6. The figures of the previous years have been regrouped / rearranged wherever necessary. The Figures of the previous years are given in brackets. The company has compiled the above accounts based on the revised/ Modified schedule III applicable for the accounting period 2014-2015. The disclosure requirements are made in the notes to accounts or by way of additional statements. The other disclosures as required by the Companies Act are made in the notes to accounts.


Mar 31, 2014

1.1 CONTINGENT LIABILITIES

Appeals filed in respect of disputed demands:

- whete the company is in appeal

(a) Sales Tax 1,422,254.00 1,422,254.00

- where the department is in appeal

(b) Central Excise Tax 9,320,010.00 -

10,742,264.00 1,422,254.00

OTHER EXPLANATORY NOTES & INFORMATION

1.2 SEGMENT REPORTING

The Company operates in a single segment, hence segment reporting as required under Accounting Standard 17 issued by the Institute of Chartered Accountants of India, is not applicable.

1.3 RELATED PARTY DISCLOSURE Nature of Relationship

Parties where common control exists

- M/s Sreeleathers

- Sumanta Susanta Overseas (P) Ltd

- Sumanta Susanta Exports (P) Ltd.

- Upkar Vinimay (P) Ltd.

- Duel Leather Dzines (P) Ltd.

- Tug Overseas (P) Ltd. Key Managerial Personnel:

- Satya Brata Dey

Note : Related party relationship is as identified by the company and relied upon by the auditors.

1.4 Disclosures under Section 22 of the Micro, Small and Medium Enterprises development Act, 2006 could not be furnished as none of the suppliers of the company have provided the details of their registration under the said act.

1.5 Previous year figures have been regrouped and arranged wherever necessary.


Mar 31, 2013

As at As at Particulars 31st March 2013 31st March 2012 1.1 CONTINGENT LIABILITIES

Appeals filed in respect of disputed demands:

(a) Sales Tax 1,422,254.00 1,422,254.00

- where the company is in appeal 1,422,254.00 1,422,254.00

OTHER EXPLANATORY NOTES & INFORMATION

1.2 SEGMENT REPORTING

The Company operates in a single segment, hence segment reporting as required under Accounting Standard 17 issued by the Institute of Chartered Accountants of India, is not applicable.

1.3 RELATED PARTY DISCLOSURE

Nature of Relationship

Parties where common control exists

- M/s Sreeleathers

- Sumanta Susanta Overseas (P) Ltd.

- Sumanta Susanta Exports (P) Ltd.

- Upkar Vinimay (P) Ltd.

- Duel Leather Dzines (P) Ltd.

- Tug Overseas (P) Ltd.

1.4 Disclosures under Section 22 of the Micro, Small and Medium Enterprises development Act, 2006 could not be furnished as none of the suppliers of the company have provided the details of their registration under the said act.

1.5 Previous year figures have been regrouped and arranged wherever necessary.

 
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