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Notes to Accounts of Suryaamba Spinning Mills Ltd.

Mar 31, 2015

Note 1. Segment Reporting

The Company is engaged in the business of manufacturing of Yarn and all other activities of the company revolve around the mam business and the Company operates in a single geography i.e. India. As per the opinion of the management, disclosure of segment information as prescribed in the Accounting Standard 17 (AS 17) "Segment Reporting" issued by the Institute of Chartered Accountants of India is not applicable.


Mar 31, 2014

Note 1 Disclosures pursuant to Accounting Standard-15 "Employee Benefit"

The Company has provided for Gratuity based on actuarial valuation on the basis of projected unit credit method.

The following table summaries the components of the net benefit recognized in the profit and loss account and amounts recognized in the Balance Sheet.

Note 2 Segment Reporting

The Company is engaged in the business of manufacturing of Yarn and all other activities of the company revolve around the main business and the Company operates in a single geography i.e. India. As per the opinion of the management, disclosure of segment information as prescribed in the Accounting Standard 17 (AS 17) "Segment Reporting" issued by the Institute of Chartered Accountants of India is not applicable.

Note 3 Related Party Disclosures

Disclosures as required under Accounting Standard (AS) 18 "Related Party Disclosures" issued by the Institute of Chartered Accountants of India are given below:

Name of the Related Party Relationship

Sri Virender Kumar Agarwal Key Managing Director

Smt Seema Agarwal Management Joint Managing Director

Sri Mayank Agarwal Personnel Executive Director

Sri Pujit Agarwal Non-Executive Director

Note 4 Significant Accounting Policies and Practices adopted by the Company are disclosed in the statement annexed to these financial statements as Annexure I.


Mar 31, 2013

Note 1 Earning Per Share

Disclosure for earning per share as required under "Accounting Standard (AS-20) Earning Per Share" issued by the Institute of Chartered Accountant of India.

Note 2 Defferred Tax

The company has accounted for deferred tax in accordance with the Accounting Standard - 22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India.

Major components of Deferred tax assets and liabilities arising on account of timing differences as on 31st March, 2013:

Note 3 Segment Reporting

The Company is engaged in the business of manufacturing of Yarn and all other activities of the company revolve around the main business and the Company operates in a single geography i.e. India. As per the opinion of the management, disclosure of segment information as prescribed in the Accounting Standard 17 (AS 17) "Segment Reporting" issued by the Institute of Chartered Accountants of India is not applicable.


Mar 31, 2012

Note 1 Contingent Liabilities : (Figures in Rs. Lakhs)

Contingent liabilities and commitments As at As at

(to the extent not provided for) 31 March 2012 31 March 2011

(a) Dividend on Preference Shares 31.40 -

(b)Bank Guarantees 14.57 14.57 Total 45.97 14.57

Note 2 Deferred Tax :

The company has accounted for deferred tax in accordance with the Accounting Standard "22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India. Major components of Deferred tax assets and liabilities arising on account of timing differences as on 31 March, 2012:

Note 3 Disclosures pursuant to Accounting Standard-15 "Employee Benefit" :

The Company has provided for Gratuity based on actuarial valuation on the basis of projected unit credit method. The following table summarize the components of the net benefit recognized in the profit and loss account and amounts recognized in the Balance Sheet.

Note 4 Segment Reporting :

The Company is engaged in the business of manufacturing of Yarn and all other activities of the company revolve around the main business and the Company operates in a single geography i.e. India. As per the opinion of the management, disclosure of segment information as prescribed in the Accounting Standard 17 (AS 17) "Segment Reporting" issued by the Institute of Chartered Accountants of India is not applicable

Note 5 Significant Accounting Policies and Practices adopted by the Company are disclosed in the statement annexed to these financial statements as Admixture I.


Mar 31, 2010

1 The Company has opted for exempted route under Excise rules w.e.f 31st July, 07. Accordingly, the CENVAT benefit not availed from the said date.

2 Interest paid, payable and accrued and due to Micro and small enterprises - Nil.

3 Details of Non convertible cumulative redeemable preference shares.

4 The Companys operations predominantly comprises of only one reportable product segment i.e. Yarn as per Accounting Standard - 17 "Segment Reporting" issued by the Institute of Charterd Accountants of India.

5 Disclose in respect of rekted parties pursuant to Accounting Standard 18:

6 Paise have been rounded off to the nearest rupee.

7 Previous Years figures have been regrouped wherever necessary.

8 Additional information pursuant to provisions of Part IV of Schedule VI of the Companies Act, 1956 is furnished in Annexure"A".

 
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