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.