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Notes to Accounts of The Byke Hospitality Ltd.

Mar 31, 2015

1. Corporate Information

The Byke Hospitality Limited "TBHL" or the "Company", is a listed public limited company incorporated in 1990. It is promoted by Hotel Relax Pvt. Ltd., which holds a significant stake in the Company. The Company is primarily engaged in the business of owning, operating & managing hotels & resorts.

2. Balances of the debtors, creditors, advances and deposits are subject to confirmation, reconciliation and adjustments, if any. The management does not expect any material difference affecting the current year's financial statements.

3. In the opinion of the management, all the assets other than foxed assets and non-current investments have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

5. Disclosure pursuant to Accounting Standard - 15 'Employee Benefits' Employee benefit plans Defend contribution plans

The Company makes Provident Fund contributions to defend contribution plans for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognized Rs. 2,30,014 (Year ended 31 March, 2014 Rs. 2,62,082) for Provident Fund contributions in the Statement of Profit and Loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes.

Defend benefit plans

The following tables set out the disclosure prescribed by AS-15 in respect of company's unfunded status of the defned benefit schemes and the amount recognized in the financial statements:

6. Previous Year's Figures

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


Mar 31, 2014

1. Corporate Information

The Byke Hospitality Limited "TBHL" or the "Company", is a listed public limited company incorporated in 1990. It is promoted by Hotel Relax Pvt. Ltd., which holds a significant stake in the company. The Company is primarily engaged in the business of owning, operating & managing hotels & resorts.

2. Balances of the debtors, creditors, advances and deposits are subject to confirmation, reconciliation and adjustments, if any. The management does not expect any material difference affecting the current year''s financial statements.

3. In the opinion of the management, all the assets other than fixed assets and non-current investments have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated.

4. Details of Leasing Arrangements

EMPLOYEE BENEFIT PLANS

Defined contribution plans

The Company makes Provident Fund contributions to defined contribution plans for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognised Rs.2,62,082 (Year ended 31 March, 2013 Rs.2,56,385) for Provident Fund contributions in the Statement of Profit and Loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes.

Defined benefit plans

The following tables set out the disclosure prescribed by AS-15 in respect of company''s unfunded status of the defined benefit schemes and the amount recognised in the financial statements:

a. Changes in the present value of defined benefit obligation representing reconciliation of opening and closing balances thereof:

* The discount rate is based on the prevailing market yields of Government of India securities as at the Balance Sheet date for the estimated term of the obligations. Estimates of future salary increases, considered in a actuarial valuation, takes account of inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market.

Since the company was not obliged to fund for its gratuity liability, there is no returns on the planned assets and hence the details related to changes in fair value of assets have not been given.

5. Related Party Disclosure

a. Details of Related Parties

Description of Relationship Names of Related Parties

(a) Key Management Personnel (KMP) Anil Patodia (Managing Director) and their relatives Satyanarayan Sharma (Director)

(b) Individuals owning directly or Archana Patodia indirectly interest in voting Vinita Patodia power that gives them control and Kamal Poddar their relatives Arun Poddar Hemlata Poddar

© Enterprises over which (a) & (b) Hotel Relax Pvt. Ltd. are able to exercise significant Manbhari Biofuels Pvt. Ltd. influence Aqua Pumps Pvt. Ltd. Anil Patodia HUF Sunil Patodia HUF Choice International Ltd. Choice Capital Advisors Pvt. Ltd. Choice Equity Broking Pvt. Ltd. Choice Merchandise Broking Pvt Ltd. Choice Business Services Pvt Ltd. Choice Wealth Management Pvt Ltd. Choice Corporate Services Pvt Ltd. Choice Insurance Brokers Pvt Ltd. S.K.Patodia & Associates Ms. Shree Shakambhari Exims

8. Previous Year''s Figures

The Revised Schedule VI has become effective from 1 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, 2013

1. CORPORATE INFORMATION

The Byke Hospitality Limited or "The Byke" or the "Company", is a listed public limited company incorporated in 1990. It is promoted by Hotel Relax Pvt. Ltd., which holds a significant stake in the company. The company is primarily engaged in the business of owning, operating & managing hotels & resorts.

2. Balances of the debtors, creditors, advances and deposits are subject to confirmation, reconciliation and adjustments, if any. The management does not expect any material difference affecting the current year''s financial statements.

3. In the opinion of the management, all the assets other than fixed assets and non-current investments have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated.

4. DISCLOSURE PURSUANT TO ACCOUNTING STANDARD – 15 ''EMPLOYEE BENEFITS'' EMPLOYEE BENEFIT PLANS

Defined contribution plans:

The company makes Provident Fund contributions to defined contribution plans for qualifying employees. Under the Schemes, the company is required to contribute a specified percentage of the payroll costs to fund the benefits. The company recognised Rs.2,56,385 (Year ended 31 March, 2012 Rs.1,12,176) for Provident Fund contributions in the Statement of Profit and Loss. The contributions payable to these plans by the company are at rates specified in the rules of the schemes.


Mar 31, 2012

A) Term Loan is secured by way of first charge on all fixed assets of the company, both present Sc future and assignments of rights under lease agreements for hotels taken on lease basis, personal guarantee of promoters, corporate guarantee of Hotel Relax Pvt. Ltd.

b) Term Loan is secured by way of first charge on all fixed assets of the company, both present Sc future and assignments of rights under lease agreements for hotels taken on lease basis, personal guarantee of promoters Sc corporate guarantee of Hotel Relax Pvt. Ltd. (Promoter). Rate of interest is 13.7 5% p.a.

Cash Credit facility is secured by way of first charge on all current assets of the company including hypothecation of inventory/book debts/ consumable stores Sc spares and extension of assignments of rights under lease agreements for hotels taken on lease basis, personal guarantee of promoters Sc corporate guarantee of Hotel Relax Pvt. Ltd. Rate of interest is 13.50% p.a.

Overdraft facility is secured against fixed deposit receipt.

1. CORPORATE INFORMATION

The Byke Hospitality Limited "TBHL" or the "Company" is a listed public limited company incorporated in 1990. It is promoted by Hotel Relax Pvt. Ltd., which holds a significant stake in the company. The Company is primarily engaged in the business of owning, operating &: managing hotels Sc resorts.

2. MONIES RECEIVED AGAINST SHARE WARRANTS

The company had issued 75,00,000 share warrants convertible into 75,00,000 equity shares of Rs. 10/- each at a premium of Rs. 34/- to its promoters Sc others on preferential basis, convertible within 18 months, vide special resolution passed at extra ordinary general meeting held on 02nd July, 2010. Out of75,00,000 warrants, 10,00,000 share warrants have been converted into shares during the year and 65,00,000 warrants had already been converted into shares in previous year.

3* Balances of the debtors, creditors, advances and deposits are subject to confirmation, reconciliation and adjustments, if any The management does not expect any material difference affecting the current year s financial statements.

4. In the opinion of the management, all the assets other than fixed assets and non-current investments have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated.

5. DISCLOSURE PURSUANT TO ACCOUNTING STANDARD - 15 'EMPLOYEE BENEFITS'

EMPLOYEE BENEFIT PLANS Defined contribution plans

The Company makes Provident Fund contributions to defined contribution plans for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognised Rs. 1,12,176 (Year ended 31 March, 2011 Rs. NIL) for Provident Fund contributions in the Statement of Profit and Loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes.

6. PREVIOUS YEAR'S FIGURES

The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significandy 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) Balances of the debtors, creditors, advances and balances of deposits are subject to confrmation, reconciliation and adjustments, if any. The management does not expect any material difference affecting the current years financial statements.

2) In the opinion of management, the current assets and advances have the value as stated in the balance sheet, if realised in the ordinary course of business.

3) Based on the guiding principles stated in accounting standard 17 "Segment reporting", the management does not recognise any distinguishable component of the company that is engaged in providing an individual product or service or a group of related products or services. Hence the disclosure requirements of AS-17 in this regard is not applicable.

4) In opinion of the management there is no contingent liabilities as on 31st March 2011. (P.Y. NIL)

5) The company has issued 7,500,000 share warrants convertible into 7,500,000 equity shares of Rs.10/- each at a premium of Rs.34/- to its promoters and others on preferential basis, convertible within 18 months, vide special resolution passed at extra ordinary general meeting held on 2nd July, 2010 out of which during the year 6,500,000 share warrants have been converted into 6,500,000 equity shares of Rs.10/- each at a price of Rs. 44/- per share.

6) Related party disclosures: Key management personnel & their relatives Satyanarayan Sharma (Managing Director) Anil Patodia (Executive Director appointed on 30.3.2011) Pramod Patodia (Non-Executive Director appointed on 30.3.2011) Sandeep Sharma (Executive Director resigned on 30.3.2011) Sameer Sharma (Non-Executive Director resigned on 30.3.2011) Manorama Sharma

Enterprises over which above persons are able to exercise significant infuence -

Hot-n-Ice Entertainment Pvt. Ltd.

Boyce Ply Pvt. Ltd.

Anil C. Patodia HUF (Since 30.03.2011)

Hotel Relax Pvt. Ltd. (Since 30.03.2011)

Aqua Pumps Pvt. Ltd. (Since 30.03.2011)

Manbhari Biofuels Pvt. Ltd. (Since 30.03.2011)

M/s. Shree Shakambhari Exim (Since 30.03.2011)

Transactions that are done earlier to the date on which person had became related party are not being disclosed under related party transactions.

7) There is no outstanding dues of micro and small enterprises suppliers as defned under The Micro, Small and Medium Enterprises Development Act, 2006.

8) Capital work-in-progress includes advances given for development of properties

9) Previous years fgures have been regrouped / reclassifed / rearranged / recast wherever necessary to match with current years presentation.

10) Quantitative details - Not Applicable


Mar 31, 2010

1)Balances or the debtors, creditors, advances and balances or deposits are subject to confirmation, reconciliation and adjustments, if any. The management does not expect any material difference affecting the current years financial statements.

2) Based on the guiding principles stated in accounting standard 17 "Segment reporting", the management does not recognise any distinguishable component of the company that is engaged in providing an individual product or service or a group of related products or services. Hence the disclosure requirements of AS-17 in this regard is not applicable.

3) In opinion of the management there is no contingent liabilities as on 31st March 2010. (P.Y. NIL)

4) The company has unclaimed dividend of financial year 2008-2009 amounting to Rs.158,715.80/- as on 31st March 2010 and the same is represented by the demand drafts issued but not presented in bank hence not reflected in balance sheet. (P.Y. - NIL)

5) The company has issued 7,500,000 share warrants convertible into 7,500,000 equity shares of Rs.10/- each at a premium of Rs.34/- to its promoters and others on preferential basis,convertible within 18 months, vide special resolution passed at extra ordinary general meeting held on 2nd July, 2010.

6) There is no outstanding dues of micro and small enterprises suppliers as denned under The Micro, Small and Medium Enterprises Development Act, 2006.

7) Previous years figures have been regrouped / reclassified / rearranged / recast wherever necessary to match with current years presentation.

8) Quantitative details - Not Applicable

Additional information pursuant to the provisions of Part-IV to Schedule-VI to the Companies Act, 1956:

 
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