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Notes to Accounts of Vital Communications Ltd.

Mar 31, 2011

1 Previous year's figures have been re-grouped, re-cast or re-arranged to make them comparable with Current year's figures wherever deemed necessary.

2. Balance in personal accounts are subject to confirmation in certain cases.

3. The company is engaged in the production and development of Computer Software. The Production and Sale of such software cannot be expressed in generic unit. Hence it is not possible to give quantitative details as required under paragraph 3 and 4C of PART-II of Schedule VI to the Companies Act, 1956.

Contingent Liabilities 1,12,00,000 1,12,00,000 (Against UPFC and P&SB disputed interest)

Figures in paise have been rounded off to the nearest rupee.

The company does not own any amount due to any Small Scale Industrial Unit outstanding for more than 30 days as on 31st March, 2011.

According to Accounting Standard-22, a net provision for deferred tax has been made Rs. 2216 /- (P/Y provision reversed by Rs. 344450/-).

Earnings Per Equity Share

Diluted EPS is calculated on weighted average basis as prescribed in accounting standard. Annualised per equity share have been calculated based on net profit after taxation.

Sundry Creditors do not include any amount due to small scale industrial undertaking.

There are certain disputes with UPFC/ PUNJAB & SINDH BANK. No interest provision is required to be made as per the opinion of the experts. Final settlement will be arrived at the figure not more than as stated in the balance sheet as on date. Therefore provision for the has not been made in the Balance sheet.

No Income Tax provision have been made in absence of Taxable Profits during the year however provision for Fringe Benefit Tax have been made.

The Company has not made any provision for the Interest on Secured Loan.

Appeal in respect of certain assessments of Income Tax are pending and additional tax liabilities/ refunds, if any is not determinable at this stage. Adjustment for the same will me made after the same is finally determine.

old parties balances are subject to reconciliation.

Schedules A to N form an integral part of the Balance Sheet and Profit and Loss Account.


Mar 31, 2010

1. Previous years figures have been re-grouped, re-cast or re-arranged to make them comparable with Current years figures wherever deemed necessary.

2. Balance in personal accounts are subject to confirmation in certain cases.

3. The company is engaged in the production and development of Computer Software. The Production and Sale of such software cannot be expressed in generic unit. Hence it is not possible to give quantitative details as required under paragraph 3 and 4C of PART-II of Schedule VI to the Companies Act, 1956.

Current Year Previous Year Amount (Rs.) Amount (Rs)

Contingent Liabilities 1, 12, 00,000 1, 12, 00,000

(Against UPFC and P&SB disputed interest)

Figures in paise have been rounded off to the nearest rupee.

The company does not own any amount due to any Small Scale Industrial Unit outstanding for more than 30 days as on 31st March, 2010.

According to Accounting Standard-22, a net provision for deferred tax has been made Rs.- 344450/- (P/Y provision reversed by Rs. 2607722/-).

Assets and Expenditure cannot be allocated segment wise.

Earnings Per Equity Share

Diluted EPS is calculated on weighted average basis as prescribed in accounting standard. Annualised per equity share have been calculated based on net profit after taxation.

Sundry Creditors do not include any amount due to small scale industrial undertaking.

There are certain disputes with UPFC/ PUNJAB & SINDH BANK. No interest provision is required to be made as per the opinion of the experts. Final settlement will be arrived at the figure not more than as stated in the balance sheet as on date. Therefore provision for the has not been made in the Balance sheet.

No Income Tax provisions have been made in absence of Taxable Profits during the year however provisions for Fringe Benefit Tax have been made.

The Company has not made any provision for the Interest on Secured Loan.

Appeal in respect of certain assessments of Income Tax are pending and additional tax liabilities/ refunds, if any is not determinable at this stage. Adjustment for the same will me made after the same is finally determine.

Old parties balances are subject to reconciliation.

Schedules A to N form an integral part of the Balance Sheet and Profit and Loss Account.


Mar 31, 2009

1. Previous years figures have been re-grouped, re-cast or re-arranged to make them comparable with Current yearsfigures wherever deemed necessary.

2. Balance in personal accounts are subject to confirmation in certain cases.

3. The company is engaged in the production and development of Computer Software. The Production and Sale of such software cannot be expressed in generic unit. Hence it is not possible to give quantitative details as required under paragraph 3 and 4C of PART-II of Schedule VI to the Companies Act, 1956.

Current Year Previous Year Amount (Rs.) Amount (Rs)

4. Contingent Liabilities 1,12,00,000 1,12,00,000 (Against UPFC and P&SB disputed interest)

5. Figures in paise have been rounded off to the nearest rupee.

6. The company does not own any amount due to any Small Scale Industrial Unit outstanding for more than 30 days as on 31st March, 2009.

According to Accounting Standard-22, a net provision for deferred tax has been made Rs. 2607722/- (P/Y provision reversed by Rs. 2241246/-).

Segment Recording The company has following business segments

(Rs. In Lacs)

Segment Revenue - Products/Services 0

Assets and Expenditure cannot be allocated segment wise.

7. Earnings Per Equity Share

Diluted EPS is calculated on weighted average basis as prescribed in accounting standard. Annualised per equity share have been calculated based on net profit after taxation.

8. Sundry Creditors do not include any amount due to small scale industrial undertaking.

9. There are certain disputes with UPFC/ PUNJAB & SINDH BANK. No interest provision is required to be made as per the opinion of the experts. Final settlement will be arrived at the figure not more than as stated in the balance sheet as on date. Therefore provision for the has not been made in the Balance sheet.

10. No Income Tax provision have been made in absence of Taxable Profits during the year however provision for Fringe Benefit Tax have been made.

11. The Company has not made any provision for the Interest on Secured Loan.

12. Appeal in respect of certain assessments of Income Tax are pending and additional tax liabilities/ refunds, if any is not determinable at this stage. Adjustment for the same will me made after the same is finally determine.

13. old parties balances are subject to reconciliation.

14. SchedulesAto N form an integral part of the Balance Sheet and Profit and Loss Account.

 
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