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Notes to Accounts of V B Industries Ltd.

Mar 31, 2015

A. Contingent Liabilities & Commitments - Nil

b. Additional Information disclosed as per Part II of The Companies Act, 2013 – Nil

c. Segment Reporting –

The company is primarily engaged in the single business of trading in shares and securities and there is no reportable secondary segment i.e. geographical segment. Hence, the disclosure requirement of Accounting Standard-17 "Segment Reporting" as notified by Companies (Accounting Standards) Rules, 2006 (as amended) is not applicable.

d. Amount due from/to company /firm in which Directors are Interested : As given below

e. Confirmation of balances/reconciliation of accounts pertaining to certain advances / creditors / debtors is pending as at period end. Hence, the balances have been adopted as per the books of accounts.

f. Previous years' figures have been regrouped, rearranged wherever necessary to make them comparable with those of current year.


Mar 31, 2014

1. None of the Raw Materials, Stores, Spares and Components consumed or purchased during the year have been imported.

2. None of the Earnings / Expenditures is in Foreign Currency.

3. Balance of Debtors, Creditors, Deposits, Loans and Advances are subject to confirmation.

4. In the opinion of the Board, the Current Assets, Loans & Advances are approximately of the value stated if realized in the ordinary course of business. The provision for depreciation and all known liabilities are adequate and not in excess of the amounts reasonably necessary.

5. Investments of the Company have been considered by the management to be of a long term nature and hence they are long term investments and are valued at cost of acquisitions.

6. There was no employee receiving remuneration to the extent as laid on under section 217 (2A) of the Companies Act, 1956.

Segment Report

7. Segment reporting as defined in Accounting Standard 17 is not applicable as the Company

8. Auditors Remuneration :

Audit Fees 31.03.2014 31.03.2013

15000 15000

Related Party Transactions

9. Sum of Rs. Nil has been paid to related party during the financial year under review.

Differed Tax on Income

10. Differed Income Tax reflects the impact of reversed of timing difference of earlier year. Deferred Tax is measured on the Tax rates and Tax Laws enacted or substantively enacted at the Balance Sheet date. Differed tax assets are recognized only to the extent that there is reasonable certainly that sufficient future taxable income will be available against which such differed tax assets can be realized.

11. Previous years'' figures have been regrouped, rearranged wherever necessary to make them comparable with those of current year.


Mar 31, 2013

1. None of the Raw Materials, Stores, Spares and Components consumed or purchased during the year have been imported.

2. None of the Earnings / Expenditures is in Foreign Currency.

3. Balance of Debtors, Creditors, Deposits, Loans and Advances are subject to confirmation.

4. In the opinion of the Board, the Current Assets, Loans & Advances are approximately of the value stated if realized in the ordinary course of business. The provision for depreciation and all known liabilities are adequate and not in excess of the amounts reasonably necessary.

5. Investments of the Company have been considered by the management to be of a long term nature and hence they are long term investments and are valued at cost of acquisitions.

6. There was no employee receiving remuneration to the extent as laid on under section 217 (2A) of the Companies Act, 1956.

Segment Report

7. Segment reporting as defined in Accounting Standard 17 is not applicable as the Company

Related Party Transactions

8. Sum of Rs. Nil has been paid to related party during the financial year under review.

Differed Tax on Income

9. Differed Income Tax reflects the impact of reversed of timing difference of earlier year. Deferred Tax is measured on the Tax rates and Tax Laws enacted or substantively enacted at the Balance Sheet date. Differed tax assets are recognized only to the extent that there is reasonable certainly that sufficient future taxable income will be available against which such differed tax assets can be realized.

10. Previous years'' figures have been regrouped, rearranged wherever necessary to make them comparable with those of current year.


Mar 31, 2012

1. None of the Raw Materials, Stores, Spares and Components consumed or purchased during the year have been imported.

2. None of the Earnings / Expenditures is in Foreign Currency.

3. Balance of Debtors, Creditors, Deposits, Loans and Advances are subject to confirmation.

4. In the opinion of the Board, the Current Assets, Loans & Advances are approximately of the value stated if realized in the ordinary course of business. The provision for depreciation and all known liabilities are adequate and not in excess of the amounts reasonably necessary.

5. Investments of the Company have been considered by the management to be of a long term nature and hence they are long term investments and are valued at cost of acquisitions.

6. There was no employee receiving remuneration to the extent as laid on under section 217 (2A) of the Companies Act, 1956.

Segment Report

7. Segment reporting as defined in Accounting Standard 17 is not applicable as the Company is primarily engaged in NBFC Activities. As informed to us, there are not separate segment within the Company as defined as 17 (Segment Report).

Related Party Transactions

8. Sum of Rs. Nil has been paid to related party during the financial year under review.

Differed Tax on Income

9. Differed Income Tax reflects the impact of reversed of timing difference of earlier year. Deferred Tax is measured on the Tax rates and Tax Laws enacted or substantively enacted at the Balance Sheet date. Differed tax assets are recognized only to the extent that there is reasonable certainly that sufficient future taxable income will be available against which such differed tax assets can be realized.

10. Information pursuant to paragraph 98B of Non Banking Financial Companies Prudential Norms (Reserve Bank) direction, 1998 has been given in separate Annexure.

11. Previous years'' figures have been regrouped, rearranged wherever necessary to make them comparable with those of current year.

 
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