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Notes to Accounts of Towa Sokki Ltd.

Mar 31, 2014

1) Segment Information

The Company has identified manufacturing and trading of Survey Instruments as its sole Primary segment. Thus the disclosure requirements as set out in Accounting Standard 17 (AS-17) "Segment Reporting" are not applicable. ''

2) Related Party Disclosures

i) Key Management Personnel

Name Relationship

O.J. Bansal Managing Director

S.J. Bansal Director

3) Capital and other commitments

Estimated amounts of contracts remaining to be executed on capital account & not provided for net of advance Rs. 1.39 lacs (Previous year Rs. 1.39 lacs)

4) The Company has made Public Issue of Equity Shares in the year 1995-96 and the total expenditure of Rs. 35.76 Lacs incurred on the said Issue has been treated as Deferred Revenue Expenditure and shown under the head of "Miscellaneous Expenditure".

5) Details of dues to micro and small enterprises as defined under the MSMED Act, 2006 Based on the information available with the Company and relied upon by the auditors, the disclosure requirement as prescribed under the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006 is as under :

6) The tax effect of the carried forward loss as tax assets in accordance with the AS-22 " Accounting for Taxes on Income" has not been reckoned in the books of accounts for the year under review in view of the perception of the management that such asset may not be realized within the applicable / reasonable time limit.

7) In the opinion of the management, there are no indications, internal or external which could have the effect of impairment of the assets of the Company to any material extent as at the Balance Sheet date, which requires recognition in terms of Accounting Standard 28 (AS-28) on "Impairment of Assets".

8) Previous years figures have been regrouped and reclassified wherever necessary to be in conformity with the figures of the current year which is as per Revised schedule VI.


Mar 31, 2013

Corporate Information

Towa Sokki Limited is a public limited company domiciled in India and incorporated under the Companies Act, 1956. Equity shares of the company are listed in Bombay Stock Exchange Ltd. in India. The Company is engaged in manufacturing and selling of Survey Instruments.

Note 1 - Basis of Accounting

i) The financial statements have been prepared under the historical cost convention in accordance with the generally accepted accounting principles to comply with the applicable Accounting Standards as prescribed under the Companies (Accounting Standards) Rules, 2006 and the relevant provisions of the Companies Act, 1956.

ii) The Company generally follows the mercantile system of accounting and recognises significant items of income and expenditure on accrual basis.

iii) Use of estimates : The preparation of financial statements in conformity with generally accepted accounting principles in India requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements.

2) Segment Information

The Company has identified manufacturing and trading of Survey Instruments as its sole Primary segment. Thus the disclosure requirements as set out in Accounting Standard 17 (AS-17) "Segment Reporting" are not applicable.

3) Capital and other commitments

Estimated amounts of contracts remaining to be executed on capital account & not provided for net of advance Rs. 1.39 lacs (Previous year Rs. 1.39 lacs)

4) The Company has made Public Issue of Equity Shares in the year 1995-96 and the total expenditure of Rs. 35.76 Lacs incurred on the said Issue has been treated as Deferred Revenue Expenditure and shown under the head of "Miscellaneous Expenditure".

5) The tax effect of the carried forward loss as tax assets in accordance with the AS-22 " Accounting for Taxes on Income" has not been reckoned in the books of accounts for the year under review in view of the perception of the management that such asset may not be realized within the applicable / reasonable time limit.

6) In the opinion of the management, there are no indications, internal or external which could have the effect of impairment of the assets of the Company to any material extent as at the Balance Sheet date, which requires recognition in terms of Accounting Standard 28 (AS- 28) on "Impairment of Assets".

7) Previous years figures have been regrouped and reclassified wherever necessary to be in conformity with the figures of the current year which is as per Revised schedule VI.


Mar 31, 2012

Corporate Information

Towa Sokki Limited is a public limited company domiciled in India and incorporated under the Companies Act, 1956. Equity shares of the company are listed in Bombay Stock Exchange in India. The Company is engaged in manufacturing and selling of Survey Instruments.

Note 1 - Basis of Accounting

i) The financial statements have been prepared under the historical cost convention in accordance with the generally accepted accounting principles to comply with the applicable Accounting Standards as prescribed under the Companies (Accounting Standards) Rules, 2006 and the relevant provisions of the Companies Act, 1956.

ii) The Company generally follows the mercantile system of accounting and recognises significant items of income and expenditure on accrual basis.

iii) Use of estimates : The preparation of financial statements in conformity with generally accepted accounting principles in India requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements.

2) Capital and other commitments

Estimated amounts of contracts remaining to be executed on capital account & not provided for net of advance Rs. 1.39 lacs (Previous year Rs. 1.39 lacs)

3) The Company has made Public Issue of Equity Shares in the year 1995-96 and the total expenditure of Rs. 35.76 Lacs incurred on the said Issue has been treated as Deferred Revenue Expenditure and shown under the head of "Miscellaneous Expenditure".

4) The tax effect of the carried forward loss as tax assets in accordance with the AS-22 " Accounting for Taxes on Income" has not been reckoned in the books of accounts for the year under review in view of the perception of the management that such asset may not be realized within the applicable / reasonable time limit.

5) In the opinion of the management, there are no indications, internal or external which could have the effect of impairment of the assets of the Company to any material extent as at the Balance Sheet date, which requires recognition in terms of Accounting Standard 28 (AS- 28) on "Impairment of Assets".

6) Previous years figures have been regrouped and reclassified wherever necessary to be in conformity with the figures of the current year which is as per Revised schedule VI.


Mar 31, 2011

1. Corresponding figures of the previous year have been regrouped to make them comparable with current year's figures, wherever necessary.

2. Estimated amount of contracts remaining to be executed on capital account & not provided for net of advance Rs. 1.39 lacs (Previous year Rs. 1.39 lacs).

3. The Company has made Public Issue of Equity Shares in the year 1995-96 and the total expenditure of Rs. 35.76 Lacs incurred on the said Issue has been treated as Deferred Revenue Expenditure and shown under the head of "Miscellaneous Expenditure".

4. In vieu of adjustment against carried forward losses of the Company does not expect any income tax liability for the year 2010-2011 on the profit earned during the year hence no provision for tax liability has been made on this account

5. The Company has also given advance to Shell Fincaps Pvt. Ltd. and others amounting to Rupees 18700000/- for other machineries, finance and technical know-how for the Project on Trunky basis, in respect of new project at Por-Ramangamdi, since discontinued and disposed off. The advances are unsecured and are subject to the terms of the agreement/ contract executed with them.

6. The tax effect of the carried forward loss as tax assets in accordance with the AS-22- Accounting for taxes on Income has not been reckoned in the books of accounts for the year under review in view of the perception of the management that such asset may not be realised within the applicable / reasonable time limit.

7. ADDITIONAL INFORMATION PURSUANT TO THE PROVISIONS OF PARAGRAPH 3,4C AND 4D OF PART II OF THE SCHEDULE VI TO THE COMPANIES ACT, 1956.


Mar 31, 2010

1. Corresponding figures of the previous year have been regrouped to make them comparable with current year's figures, wherever necessary.

2. All the revenue type expenditure incurred on estwhile project at Por-Ramangamdi, Dist. Baroda, Gujarat, since discontinued & disposed off prior to commencement, has been treated & shown as "Pre-Operative Expenditure" (Pending Capitalisation) is shown under Schedule 6, Direct Capital Expenditure are shown as "Capital Work-in-Progress on New Project" under Schedule-5, net of sale / written off during the year as substantial assets already disposed off by the company during the last year.

3. Estimated amount of contracts remaining to be executed on capital account & not provided for net of advance Rs. 1.39 lacs (Previous year Rs. 1.39 lacs).

4. The Company has made Public Issue of Equity Shares in the year 1995-96 and the total expenditure of Rs. 35.76 Lacs incurred on the said Issue has been treated as Deferred Revenue Expenditure and shown under the head of "Miscellaneous Expenditure".

5. In view of adjustment against carried forward losses of the Company does not expect any income tax liability for the year 2009-2010 on the profit earned during the year hence no provison for tax liability has been made on this account

6. The Company has also given advance to Shell Fincaps Pvt. Ltd. and others ammounting to Rupees 18700000/- for other machineries, finance and techincal know-how for the Project on Trunky basis, in respect of new project at Por-Ramangamdi, since discontinued and dispossed off. The advances are unsecured and are subject to the terms of the agreement/ contract executed with them.

7. The tax effect of the carried forward loss as tax assets in accordance with the AS-22- Accounting for taxes on Income has not been reckoned in the books of accounts for the year under review in view of the perception of the management that such asset may not be realised within the applicable / reasonable time limit.

 
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