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Notes to Accounts of T. Spiritual World Ltd.

Mar 31, 2014

1. Related Party Disclosures

There is no other company, which is under the same management in which the directors of the company are entrusted as directors and / or shareholders. There is no transaction with any firm and / or proprietor firm in which the directors of the company are interested as a partners or proprietor.

2. Key Management Personnel:

The Key Management Personnel are the Whole Time Director and Company Secretary Cum Compliance officer, whose names are mentioned in the Corporate Governance Report.

3. There are not any particulars which are required to be furnished pursuant to Clause VIII of part II of the Schedule VI of the Companies Act, 1956.

4. In compliance with the Accounting Standard AS-22 relating to "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the company had provided for Deferred tax liability arising out of timing difference. During the year under report, there has been reversal of the said deferred tax liability to the extent of Rs.259,6575/-(P.Y Rs. 275, 616), on account of difference between Book and Tax Depreciation. Accordingly, the said item has been credited to Statement of Profit & Loss of the year under report.

5. The Company has two reportable business segments i.e. Trading of Products & Commodities and IT Activities. The Company operates mainly in Indian market and there are no reportable geographical segments.

6. In the Opinion of the Board, all the current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amount stated in the Balance Sheet and all the known liabilities have been provided for.

7. Certain Debit and Credit Balances are being subject to confirmation.

8. During the year , the Company has shown the units of Mutual Fund "Arihant Mangal "(Growth Scheme) , in its Non-Current Trade Investments, after the lapse of several years due to Mutual Fund "Arihant Mangal "(Growth Scheme) was kept abeyance by the Order of Hon''ble High Court, Bombay. In this context, the Hon''ble High Court, Delhi, passed the Order dtd 29/05/2013, where in they have directed that the Mutual Fund "Arihant Mangal "(Growth Scheme) was reconsidered to dispose off the Mutual Fund "Arihant Mangal "(Growth Scheme) in terms of the SEBI regulations in full and final settlement through methodological basis. In view of the above facts, the Board have taken steps to recover the proceedings against dispose of units of Mutual Fund "Arihant Mangal "(Growth Scheme).

9. The figures appearing in the Financial Statements have been rounded off to nearest rupee.

10. Previous year''s figures have been regrouped/ reclassified wherever necessary to correspond with the current year''s classification /disclosure.


Mar 31, 2013

1. During the financial year 2012-13, there are not any transactions with any suppliers / parties who are covered under ''The Micro Small and Medium Enterprises Development Act, 2006''.

2. RELATED PARTY DISCLOSURES :

There is no other company, which is under the same management in which the directors of the company are entrusted as directors and / or shareholders. There is no transaction with any firm and / or proprietor firm in which the directors of the company are interested as a partners or proprietor.

3. KEY MANAGEMENT PERSONNEL :

The Key management personnel are the directors, whose names are mentioned in the corporate governance report.

4. The Company is selling software in domestic markets. Out of many software projects under development at the commencement of the financial year, the company has completed some projects and sold / delivered the same, the cost and revenue of which has been taken to the Statement of profit and loss. Since the revenue generation begins after the completion of the software projects / products, the company is of the view that development expenditure on the unfinished / uncompleted software should be treated as part of inventory as ''Software Projects under Development'' and included in Work in progress.

5. There are not any particulars which are required to be furnished pursuant to Clause VIII of part II of the Schedule VI of the Companies Act, 1956.

6. In compliance with the Accounting Standard AS-22 relating to "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the company had provided for Deferred tax liability arising out of timing difference. During the year under report, there has been reversal of the said deferred tax liability to the extent of Rs.2, 75,616/- (P.Y Rs. 2, 63,573/-), on account of difference between Book and Tax Depreciation. Accordingly, the said item has been credited to Statement of Profit & Loss of the year under report.

7. SEGMENT REPORTING :

The Company has two reportable business segments (i) Commodities, Wellness Products and Services (ii) IT Activities. The Company operates mainly in Indian market and there are no reportable geographical segments.

8. EARNINGS PER SHARE :

Earnings per share are calculated by dividing the profit attributable to the equity shareholders by the number of equity shares outstanding during the year, as under:

9. In the Opinion of the Board, all the current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amount stated in the Balance Sheet and all the known material liabilities have been provided for.

10. Certain Debit and Credit Balances are being subject to confirmation.

11. The figures appearing in the Financial Statements have been rounded off to nearest rupee.

12. Previous year''s figures have been regrouped / reclassified wherever necessary.


Mar 31, 2012

NOTE :- 1 SHARE CAPITAL

(i) Terms/rights attached to Equity shares

The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each equity shareholder is entitled to one vote per share. The Company have not declared any dividends for the year under review.

(ii) No Equity Shares of the Company are held by its Holding Co or its Ultimate Holding Co or by subsidiaries or associates of the holding co or the ultimate Holding Co, since the Company does not have any Holding Co or Subsidiary Co as at 31st March, 2012 and as at 31st March, 2011.

(iii) None of the Shareholders holding more than 5% shares in the issued, subscribed and paid up Equity share capital of the Company as at 31st March, 2012 and as at 31st March, 2011.

(iv) No Equity Shares are reserved for issue under the employee stock option (ESOP) plan of the Company and for contracts /commitments for the sale of shares /disinvestment as at 31st March, 2012 and as at 31st March, 2011.

(v) During the period of five years immediately preceding the reporting date:

(a) No Shares were allotted pursuant to any contract(s)/arrangements without payment being received in cash ;

(b) No Shares were allotted by way of bonus shares;

(c) No Shares were bought back;

(vi) The Company does not issued any securities which will be convertible into Equity Shares in future.

(vii) No Calls unpaid by any share holders at 31st March, 2012 and as at 31st March, 2011.

(ix) Since Inception, no Shares were Forfeited by the Company or there were any re-issue of any Forfeited shares

(x) In Financial Year 2007-08, equity shares capital of the company was consolidated from Five equity shares of Rs. 2/- (100,010,000 equity shares) each into One equity shares of Rs. 10/- each (20,002,000 equity shares).

2. During the financial year 2011-12, there are not any transactions with any suppliers/parties who are covered under 'The Micro Small and Medium Enterprises Development Act, 2006'.

3. Related Party Disclosures

There is no other company, which is under the same management in which the directors of the company are entrusted as directors and/or shareholders. There is no transaction with any firm and/or proprietor firm in which the directors of the company are interested as a partners or proprietor.

4. Key Management Personnel:

The Key management personnel are the directors, whose names are mentioned in the corporate governance report.

5. The Company is selling software in domestic markets. Out of many software projects under development at the commencement of the financial year, the company has completed some projects and sold / delivered the same, the cost and revenue of which has been taken to the Statement of profit and loss. Since the revenue generation begins after the completion of the software projects/products, the company is of the view that development expenditure on the unfinished/uncompleted software should be treated as part of inventory as 'Software Projects under Development' and included in Work in progress.

6. There are not any particulars which are required to be furnished pursuant to Clause VIII of part II of the Schedule VI of the Companies Act, 1956.

7. In compliance with the Accounting Standard AS-22 relating to "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the company had provided for Deferred tax liability arising out of timing difference. During the year under report, there has been reversal of the said deferred tax liability to the extent of Rs. 2, 63,573/- (P.Y Rs.1, 35,886/-), on account of difference between Book and Tax Depreciation. Accordingly, the said item has been credited to Statement of Profit & Loss of the year under report.

8. The Company has two reportable business segments (i) Commodities, Wellness Products and Services (ii) IT Activities. The Company operates mainly in Indian market and there are no reportable geographical segments.

9. In the Opinion of the Board, all the current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amount stated in the Balance Sheet and all the known liabilities have been provided for.

10. Certain Debit and Credit Balances are being subject to confirmation.

11. The figures appearing in the Financial Statements have been rounded off to nearest rupee.

12. The Revised Schedule VI has become effective from 1st April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped/reclassified wherever necessary to correspond with the current year's classification/disclosure.


Mar 31, 2011

1. Related Party Disclosures

There is no other company, which is under the same management in which the directors of the company are interested as directors and / or shareholders. There is no transaction with any firm and / or proprietor firm in which the directors of the company are interested as a partners or proprietor.

2. Key Management Personnel

The Key management personnel are the directors, whose names are mentioned in the corporate governance report.

3. The names of Micro Small and Medium Enterprisers suppliers defined under 'The Micro Small and Medium Enterprises Development Act, 2006' could not be identified, as the necessary evi- dence is not in the possession of the Company.

4. Liabilities in respect of gratuity & leave encashment and other retirement benefits are accounted for on cash basis which is not in conformity with Accounting Standard (AS) 15 (Revised 2005) on Employee Benefits as issued by the Institute of Chartered Accountants of India which requires that Gratuity and Leave Encashment Liabilities be accounted for on accrual basis.

5. Valuation of investment in quoted shares can not be ascertained as the shares are not traded due to suspension at stock exchange where the shares are listed and audited Balance Sheet of these companies are not available. With regards to unquoted equity shares, balance sheets are not available for verification.

6. In the opinion of the management, there is no impairment of assets and no contingent liabilities as on Balance Sheet date.

7. Purchase/ Sale/ expenses have been verified on test check basis.

8. The Company is developing software for marketing in domestic markets. Out of many software projects under development at the commencement of the financial year 2010-2011, the company has completed some projects and sold / delivered the same, the cost of which has been taken to the profit and loss account. Since the revenue generation begins after the completion of the software projects / products, the company is of the view that development expenditure on the unfinished / incompleted software should be treated as part of inventory under the head 'Software Projects under Development'.

9. Paise have been rounded off to the nearest rupee.

10. Schedule A to I form an integral part of Balance Sheet and Profit & Loss Account.

11. Previous year figures have re grouped or rearranged wherever necessary.


Mar 31, 2010

1. Related Party Disclosures

There is no other company, which is under the same management in which the directors of the company are entrusted as directors and / or shareholders. There is no transaction with any firm and / or proprietor firm in which the directors of the company are interested as a partners or proprietor.

2. Key Management Personnel

The Key management personnel are the directors, whose names are mentioned in the corporate governance report.

3. The names of Micro Small and Medium Enterprisers suppliers defined under The Micro Small and Medium Enterprises Development Act, 2006 could not be identified, as the necessary evidence is not in the possession of the Company.

4. Liabilities in respect of gratuity & leave encashment and other retirement benefits are accounted for on cash basis which is not in conformity with Accounting Standard (AS) 15 (Revised 2005) on Employee Benefits as issued by the Institute of Chartered Accountants of India which requires that Gratuity and Leave Encashment Liabilities be accounted for on accrual basis.

5. Valuation of investment in quoted shares can not be ascertained as the shares are aot traded due to suspension at stock exchange where the shares are listed and audited Balance Sheet of these companies are not available. With regards to unquoted equity shares, balance sheets are not available for verification.

6. In the opinion of the management, there is no impairment of assets and no contingent liabilities as on Balance Sheet date.

7. Purchase/ Sale/ expenses have been verified on test check basis.

8. The Company is developing software for marketing in domestic markets. Out of many software projects under development at the commencement of the financial year 200^- 2010, the company has completed some projects and sold / delivered the same, the cost of which has been taken to the profit and loss account Since the revenue generation begins after the completion of the software projects / products, the company is of the view that development expenditure on the unfinished / incompleted software should be treated as part of inventory under the head Software Projects under Development.

9. Paise have been rounded off to the nearest rupee.

10. Schedule A to J form an integral part of Balance Sheet and Profit & Loss Account.

11. Previous year figures have re grouped or rearranged wherever necessary.