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Notes to Accounts of Sumuka Agro Industries Ltd.

Mar 31, 2015

Notes:

(a) There are no reportable secondary segments.

(b) The primary segments have been identified & reported considering the nature of products & services, their risks and returns, the organisation structure and the internal management reporting system. Investment, interest and consulting activities are clubbed under 'finance Segment'.

(c) Due to changes in the primary segments, the previous year figures may not correlate with that of current years.

(d) Segmental information includes the respective amounts identifiable or allocable. Other amounts are reported at corporate level.

M. Retirement Benefits – The management of the Company is of the opinion that provisions for employees retirement benefits are not required to be made.

(*) Outstanding closing balances unless specified otherwise; (#) Amounts squared-up during the year; (@) Exercising 'significant influence (SI)' in business decisions in terms of clause 3(e) of Accounting Standard 18 or a 'related party' in terms of the applicable provisions of the Act.

Notes: (1) Pertains to call money received on partly paid shares. (2) Received Rs, 45000/- during the year. (3) No remuneration is paid during the year. (4) Repaid Rs, 750000 during the year. (5) Purchased of 180000 additional equity shares of Rs, 10 each during the year.

a. In respect of certain payments made for expenses or otherwise where, the payees' acknowledgements and/or other supporting evidences of payments were not available for our verification, the management confirms the propriety of the payments and of the debits given to the respective account heads. None of the revenue expenses are capitalised during the year or vice versa.

b. The balances of receivables and payables are subject to third party confirmations. The management has taken adequate steps to provide sufficiently for all known, anticipated or contingent liabilities. The liabilities including the Capital Reserve of Rs, 4940132/- and the current assets, loans, advances and others receivables, are approximately of the value stated in the accounts and payable or receivable in the ordinary course of business. Certain old debit accounts pertaining to Gujarat Electricity Board Deposit of Rs, Nil (Rs, 406230/-), Telephone Deposit of Rs, Nil (Rs, 29000/-) and Excise Duty Credits of Rs, Nil (Rs, 50885/-), were written off during the year and certain old credit accounts pertaining to Provisions Rs, Nil (Rs, 49635/-) and Creditors or Loans/Advances Rs, 2648328/- (Rs, 60000/-) were written back during the year, as in the opinion of the management of the Company, these have become fragile and do not appear to be of the value stated, in the ordinary course of business. The Company had received certain trade advances amounting Rs, 1,40,00,000/- which were outstanding for more than a year, and during the year however a repayment of Rs, 87,00,000/- was made, and the balance Rs, 53,00,000/- remaining unpaid, have been accounted as long term liabilities.

c. Prior Period Items – The Company follows the accrual system of accounting, but provision for expenses is made on the basis of the materially concept and where ever ascertainable.

d. In the opinion of the management, there are no outstanding dues towards suppliers as defined under the "Micro, Small & Medium Enterprises Development Act, 2006".

e. Managerial Remuneration – The management has been paid a remuneration of Rs, Nil (Rs, Nil) during the year.

f. Additional Information – Additional information pursuant to the applicable provisions of note 5 of Part II of Schedule III to the Act, to the extent not already reported elsewhere:

g. Previous year figures are regrouped or reclassified wherever necessary. Figures in brackets pertain to previous year. All figures have been rounded off to the nearest rupee.


Mar 31, 2014

Note 1. Share Capital

A. The Company has only one class of equity shares of par value Rs. 10/- each. Each equity shareholder is entitled to one vote per share held, and on liquidation entitled to receive balance of net assets remaining after settlement of all debts, creditors & preferential amounts, proportionate to their respective shareholding. No dividend is proposed.

B. The Company had during the year 2011-12, transferred 1129400 equity shares from partly paid to fully paid equity shares of Rs. 10 each, since the Company received the balance amount of calls in arrears of Rs. 5, on these shares.


Mar 31, 2013

1. The Company has only one class of equity shares of par value Rs. 10/- each. Each equity shareholder is entitled to one vote per share held, and on liquidation entitled to receive balance of net assets remaining after settlement of all debts, creditors & preferential amounts, proportionate to their respective shareholding. No dividend is proposed._

2. During the year 1129400 equity shares were transferred from partly paid to fully paid equity shares of Rs. 10 each, since the Company received the balance amount of calls in arrears of Rs. 5, on these shares.


Mar 31, 2012

A. Foreign Currency Transactions - The Company has not entered into any foreign currency transactions during the year.

B. Prior Period Items - The Company follows the accrual system of accounting, but provision for expenses is made on the basis of the materially concept and where ever ascertainable.

C. Managerial Remuneration -The management has not been paid any remuneration during the year.

D. Contingencies & Subsequent Events - All disputed and/or contingent liabilities are either provided for or disclosed as such, on the basis of mutual acceptances or depending on the management''s perception of its potential outcome. Events occurring after the balance sheet date up to the date of adoption of the financial statements, having a material bearing are considered while preparing the financial statements.

E. In respect of certain payments made for expenses or otherwise where, the payees'' acknowledgements and/or other supporting evidences of payments were not available for our verification, the management confirms the propriety of the payments and of the debits given to the respective account heads. None of the revenue expenses are capitalized during the year or vice versa.

F. In the opinion of the management, there are no outstanding dues towards suppliers as defined underthe "Micro, Small & Medium Enterprises Development Act 2006".

G. The balances of receivables and payables are subject to third party confirmations. The management has taken adequate steps to provide sufficiently for all known, anticipated or contingent liabilities. The liabilities including the Capital Reserve of Rs.4940132/-, are of the value stated and payable in the ordinary course of business. Current assets, loans, advances and receivables including Gujarat Electricity Board Deposit of Rs. 406230/-, Telephone Deposit of Rs. 29000/- and Excise Duty Credits of Rs. 50885/-, are of the value stated, if realised in the ordinary course of business.

H. Previous year figures may be regrouped, recast or reclassified wherever necessary. Figures in brackets are pertaining to previous year. All figures are rounded off to the nearest rupee.


Mar 31, 2011

A. Deferred Taxes The specification of details pursuant to Accounting Standard 22 - "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, is not applicable to the Company since there is no deferment of taxes arising on account of timing differences.

B. Prior Period Items The Company follows the accrual system of accounting, but provision for expenses is made on the basis of the materially concept and where ever ascertainable.

C. Managerial Remuneration The management has not been paid any remuneration during the year.

D. There are no outstanding dues towards suppliers as defined under the "Micro, Small & Medium Enterprises Development Act, 2006".

E. In respect of certain payments made for expenses or otherwise where, the payees'' acknowledgements and/or other supporting evidences of payments were not available for our verification, the management confirms the propriety of the payments and of the debits given to the respective account heads.

F. None of the revenue expenses are capitalized during the year or vies versa.

G. Third party confirmations of receivables and payables were not immediately available for our verification.

H. Previous year figures may be regrouped, recast or reclassified wherever necessary. Figures in brackets are pertaining to previous year. All figures are rounded off to the nearest rupee.


Mar 31, 2010

Figures in brackets are pertaining to previous year. All figures are rounded off to the nearest rupee.


Mar 31, 2009

1. The balance of Sundry Creditor is subject to confirmation. However, the directors have certified the respective balance.

2. No Managerial remuneration has been paid to Directors during the year or earlier year.

3. The company claims to have no contingent liabilities and hence not provided for.

4. Previous year figures have been regrouped, rearranged wherever necessary to confirm with current year figures.

5. Additional information pursuant to the provisions of paragraph 3, 4B, 4C, 4D of part II of the Schedule VI of the Companies Act, 1956.

b) Expenditure on employees in respect of remuneration of not less than Rs. 12,00,000/- for a year or Rs. 1,00,000/- p.m. when employed for the part of the year Rs. Nil. (Previous year Rs. Nil)

c) (i) Licensed Capacity/Installed Capacity Not Applicable

(ii) Production

The Company has not carried out any manufacturing activity during the year, hence no data related to production is available.

(iii) Raw Material (excluding stores):

The Company has not carried out any manufacturing activity during the year and hence there is no Consumption of Raw Material during the year.

d) Turnover:

The Company has not carried out any business activity during the year therefore no data related to turnover is available.


Mar 31, 2008

1. The balance of Sundry Creditor is subject to confirmation. However, the directors have certified the respective balance.

2. No Managerial remuneration has been paid to Directors during the year or earlier year.

3. The company claims to have no contingent liabilities and hence not provided for.

4. Previous year figures have been regrouped, rearranged wherever necessary to confirm with current year figures.

5. Additional information pursuant to the provisions of paragraph 3, 4B, 4C, 4D of part II of the Schedule VI of the Companies Act, 1956.

b) Expenditure on employees in respect of remuneration of not less than Rs. 12,00,000/- for a year or Rs. 1,00,000/- p.m. when employed for the part of the year Rs. Nil. (Previous year Rs. Nil)

c) (i) Licensed Capacity/Installed Capacity Not Applicable

(ii) Production

The Company has not carried out any manufacturing activity during the year, hence no data related to production is available.

(iii) Raw Material (excluding stores):

The Company has not carried out any manufacturing activity during the year and hence there is no Consumption of Raw Material during the year.

d) Turnover:

The Company has not carried out any business activity during the year therefore no data related to turnover is available


Mar 31, 2007

1. The balance of Sundry Creditor is subject to confirmation. However, the directors have certified the respective balance.

2. No Managerial remuneration has been paid to Directors during the year or earlier year.

3. The company claims to have no contingent liabilities and hence not provided for.

4. Previous year figures have been regrouped, rearranged wherever necessary to confirm with current year figures.

5. Additional information pursuant to the provisions of paragraph 3, 4B, 4C, 4D of part II of the Schedule VI of the Companies Act, 1956.

a) Auditor''s Remuneration and Expenses:

Particulars current Year Previous Year Rs. Rs.

As Auditor :- - Audit Fees 20,000 20,000 -

Service Tax 2,040 2,040

Total 22,040 22,040

b) Expenditure on employees in respect of remuneration of not less than Rs. 12,00,000/- for a year or Rs. 1,00,000/- p.m. when employed for the part of the year Rs. Nil. (Previous year Rs. Nil)

c) (i) Licensed Capacity/Installed Capacity Not Applicable

(ii) Production

The Company has not carried out any manufacturing activity during the year, hence no data related to production is available.

(iii) Raw Material (excluding stores):

The Company has not carried out any manufacturing activity during the year and hence there is no Consumption of Raw Material during the year.

d) Turnover:

The Company has not carried out any business activity during the year therefore no data related to turnover is available.

e) Value of Imports on CIF basis

f) Expenditure in Foreign Currency

g) Earning in Foreign Currency

As per our report of even date


Mar 31, 2006

1. The balance of Sundry Creditor is subject to confirmation. However, the directors have certified the respective balance.

2. No Managerial remuneration has been paid to Directors during the year or earlier year.

3. The company claims to have no contingent liabilities and hence not provided for.

4. Previous year figures have been regrouped, rearranged wherever necessary to confirm with current year figures.

5. Additional information pursuant to the provisions of paragraph 3, 4B, 4C, 4D of part II of the Schedule VI of the Companies Act, 1956.

b) Expenditure on employees in respect of remuneration of not less than Rs. 12,00,000/- for a year or Rs. 1,00,000/- p.m. when employed for the part of the year Rs. Nil. (Previous year Rs. Nil)

c) (i) Licensed Capacity/Installed Capacity Not Applicable

(ii) Production

The Company has not carried out any manufacturing activity during the year, hence no data related to production is available.

(iii) Raw Material (excluding stores):

The Company has not carried out any manufacturing activity during the year and hence there is no Consumption of Raw Material during the year.

 
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