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Notes to Accounts of Universal Arts Ltd.

Mar 31, 2015

Note 1 : -

With regards to Sundry Balance Written off - The Capital Work in progress is to be amortised in 3 years. Thus the Capital Work in progress has been amortised starting from the year 2013-14.

Note 2 : -

There are no dues to parties registered under Micro, Small and Medium Enterprises Development Act 2006 as on 31.03.2015

Note 3 : -

Company has not recognised Deferred Tax in the books because of future uncertainty in setting off the losses.

Note 4 : -

Contingent Liabilities is Rs. Nil (P.Y. Rs. Nil)

Note 5 : -

The balance confirmations in respect of debtors, creditors, advances, loans and deposits as at 31st March 2015 have been called for and are subject to confirmation & reconciliation as the necessary communication in this respect is not received from them. The management has scrutinized the accounts and the balances appearing in the Balance Sheet are correct.

Note 6 : -

Segment Reporting: In the opinion of the management the company is mainly engaged in the sale of Film, TV serial, Film. All other activities of the Company revolve around the main business, and as such, there are no separate reportable segments.


Jun 30, 2013

Note 1:-

There are no dues to parties registered under Micro, Small and Medium Enterprises Development Act 2006 as on 30.06.2013

Note 2:-

Company has not recognised Deferred Tax in the books because of future uncertainity in setting off the losses.

Note 3:-

Contingent Liabilities is Rs. Nil (P.Y. Rs. Nil)

Note 4 : -

The balance confirmations in respect of debtors, creditors, advances, loans and deposits as at 30th June 2013 have been called for and are subject to confirmation & reconciliation as the necessary communication in this respect is not received from them. The management has scrutinized the accounts and the balances appearing in the Balance Sheet are correct.

Note 5 : -

Segment Reporting: In the opinion of the management the company is mainly engaged in the sale of Film, TV serial, Film. All other activities of the Company revolve around the main business, and as such, there are no separate reportable segments.


Jun 30, 2012

NOTE 1 :There are no dues to parties registered under Micro, Small and Medium Enterprises Development Act 2006 as on 30^06.2012. .

NOTE 2 :Company has not recognised Deferred Tax in the books because of future uncertainly in setting off the losses

NOTE 3 Contingent Liabilities is Rs. Nil (PY. Rs. Nil)

NOTE 4 :The balance confirmations in respect of debtors, creditors, advances, loans and deposits as at 30th June, 2012 have been called for and are subject to confirmation & reconciliation as the necessary communication in this respect is not received from them. The management has scrutinized the accounts and the balances appearing in the Balance Sheet are correct.

NOTE 5 .-Segment Reporting. In the opinion of the management the company is mainly engaged in the sale of Film, TV serial, Film. All other activities of the Company revolve around the main business, and as such, there are no separate reportable segments.


Jun 30, 2010

1. Contingent Liabilities is Rs. Nil (P.Y.Rs. Nil)

2. The balance confirmations in respect of debtors, creditors, advances, loans and deposits as at 30th June 2010 have been called for and are subject to confirmation & reconciliation as the necessary communication in this respect is not received from them. The management has scrutinized the accounts and the balances appearing in the Balance Sheet are correct.

3. In the opinion of the management, no item of current assets, loans and advances has a value on realization in the ordinary course of business, which is less than the amount of value at which it is stated in the Balance Sheet, unless otherwise specified.

4. There is no due from small scale Industries.

5. Managerial Remuneration Nil (P.Y. Nil).

6. Payment to Auditors Rs. 28,000/- (P.Y. Rs.28,000/-)

7. Information pursuant to Para 3 & 4 of Part II of Schedule VI of the Companies Act, 1956 are not required to be furnished considering the nature of business activity of the company.

8. Income & Expenditure in Foreign Currency is Nil (P.Y. Nil).

9. Segment Reporting: In the opinion of the management the company is mainly engaged in the sale pf Film, TV serial, Film. All other activities of the Company revolve around the main business, and as such, there are no separate reportable segments.

10. Deferred Tax on losses and depreciation are not provided in the books.

11. Figures of Previous are regrouped and reclassified wherever necessary.

 
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