Mar 31, 2014
The Members
Creative Merchants Limited
The Directors'' present the Annual report on the business and operations
of your Company for the year 2013-14.
FINANCIAL RESULTS AND OPERATIONAL REVIEW:
Year Ended Year Ended
Particulars 31.03.2014 31.03.2013
(Amt in Rs.) (Amt in Rs.)
Gross Sales/Income 7356958 1110315
Less Depreciation ----- -----
Profit/(Loss) before Tax 327788 246137
Taxes/Deferred Taxes 114722 73747
Profit/(Loss) After Taxes 213066 172390
P& L Balance b/f 303238 130848
Profit/ (Loss) carried to Balance Sheet 516304 303238
DIVIDEND:
In view of Inadequate Profits, your Directors do not recommend any
dividend during the year.
DIRECTORS:
Mr Jignesh Purshottamdas Patel Director of the Company is liable to
retire by rotation at the ensuing Annual General Meeting and being
eligible, offer himself for re-appointment.
Mr. Jayendra Savjibhai Kharadi was appointed w.e.f 21/02/2014 and your
company has accepted the resignation of Mr. Gaurish Shantilal Shah
w.e.f 22/02/2014, during the year under review.
DIRECTORS'' RESPONSIBILITY STATEMENT:
Director confirms that:
The applicable accounting standards have been followed along with
proper explanation relating to material departures.
Such accounting policies have been selected and applied consistently
and reasonable and prudent judgments and estimates made, so as to give
a true and fair view of the state of affairs of the company at the end
of the financial Year and the profit/loss of the company for that
period.
Proper and sufficient care has been taken for the maintenance of the
adequate accounting records in accordance with provisions of this act
for safeguarding the assets of the company and for preventing and
detecting fraud and other irregularities.
The annual accounts have been prepared on a going concern basis.
CORPORATE GOVERNANCE:
A comprehensive report on corporate governance as stipulated under
Clause 49 of the Listing Agreement is attached to this Report.
The Company has obtained a certificate from the Statutory Auditors
regarding compliance of conditions of Corporate Governance as
stipulated in Clause 49 of the Listing Agreement and the same is
annexed at the end of Corporate Governance Report.
MANAGEMENT DISCUSSION AND ANALYSIS:
Management discussion and analysis Report, pursuant to Clause 49 of the
Stock Exchange Listing agreement, forms part of this Report and the
same is annexed hereto.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE:
As required under rule3 of the companies (Disclosure of Particulars in
the report of Board of Directors) Rules 1998, the particulars relating
to the conservation of energy, Technology absorption, and the foreign
exchange earnings and outgo are also Nil.
PARTICULARS OF EMPLOYEES:
There are no employees drawing the remuneration in excess of ceiling
prescribed under provisions of Companies (Particulars of Employees)
Rules, 1975 read with Section 217(2A) of the Companies Act, 1956 as
amended from time to time. Hence no information is required to be
appended to this report in this regard.
APPOINTMENT OF AUDITORS:
M/s. Hemant Parikh & Co., Chartered Accountants, Ahmedabad Auditors of
the Company, hold office until the conclusion of the ensuing Annual
General Meeting. The Company has received letters from them to the
effect that their appointment, if made, would be within the prescribed
limits under Section 224(1-B) of the Companies Act, 1956.
PUBLIC DEPOSITS
The Company has not accepted any deposits from the public during the
year under review. Your Company is listed with the BSE Ltd. and
Ludhiana Stock Exchange.
SEGMENT:
Your Company is engaged in a single segment only.
ACKNOWLEDGEMENT:
The management is grateful to the government authorities, Bankers,
Vendors for their continued assistance and co-operation. The directors
also wish to place on record the confidence of members in the company.
By Order of the Board of Directors
Date : 12/04/2014
Place :Ludhiana Sd/- Sd/- Sd/-
Bipin M. Patel Jignesh P. Patel Jayendra Kharadi
Managing Director Director Director
(DIN: 03190744) (DIN: 05257911) (DIN: 06777687)
Mar 31, 2013
The Members
The Directors'' present the Annual report on the business and
operations of your Company for the year 2012-13.
FINANCIAL RESULTS AND OPERATIONAL REVIEW:
Year Ended Year Ended
Particulars 31.03.2013 31.03.2012
(Amt in Rs.) (Amt in Rs.)
Gross Sales/Income 1110315 162150
Less Depreciation - -
Profit/(Loss) before Tax 246137 120140
Taxes/Deferred Taxes 73747 36042
Profit/(Loss) After Taxes 172390 84098
P& L Balance b/f 130848 46750
Profit/ (Loss) carried to Balance
Sheet 303238 130848
PARTICULARS OF EMPLOYEES:
There are no employees drawing the remuneration in excess of ceiling
prescribed under provisions of Companies (Particulars of Employees)
Rules, 1975 read with Section 217(2A) of the Companies Act, 1956 as
amended from time to time. Hence no information is required to be
appended to this report in this regard.
DIRECTORS:
Mr. Bipin Patel Director of the Company is liable to retire by rotation
at the ensuing Annual General Meeting and being eligible, offer himself
for re- appointment.
RESPONSIBILITY STATEMENT:
As required u/s 217(2AA) of the Companies Act, 1956 your Director
confirms that in the preparation of the annual accounts.
The applicable accounting standards have been followed along with
proper explanation relating to material departures.
Such accounting policies have been selected and applied consistently
and reasonable and prudent judgments and estimates made, so as to give
a true and fair view of the state of affairs of the company at the end
of the financial Year and the profit/loss of the company for that
period.
Proper and sufficient care has been taken for the maintenance of the
adequate accounting records in accordance with provisions of this act
for safeguarding the assets of the company and for preventing and
detecting fraud and other irregularities.
The annual accounts have been prepared on a going concern basis.
CORPORATE GOVERNANCE:
A comprehensive report on corporate governance as stipulated under
Clause 49 of the Listing Agreement is attached to this Report.
The Company has obtained a certificate from the Statutory Auditors
regarding compliance of conditions of Corporate Governance as
stipulated in Clause 49 of the Listing Agreement and the same is
annexed at the end of Corporate Governance Report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE:
As required under rule3 of the companies (Disclosure of Particulars in
the report of Board of Directors) Rules 1998, the particulars relating
to the conservation of energy, Technology absorption, and the foreign
exchange earnings and outgo are also Nil.
APPOINTMENT OF AUDITORS:
M/s. Hemant Parikh & Co., Chartered Accountants, Ahmedabad Auditors of
the Company, hold office until the conclusion of the ensuing Annual
General Meeting. The Company has received letters from them to the
effect that their appointment, if made, would be within the prescribed
limits under Section 224(1- B) of the Companies Act, 1956.
PUBLIC DEPOSITS
The Company has not accepted any deposits from the public during the
year under review. Your Company is listed with the Ludhiana Stock
Exchange.
SEGMENT:
Your Company is engaged in a single segment only.
ACKNOWLEDGEMENT:
The management is grateful to the government authorities, Bankers,
Vendors for their continued assistance and co-operation. The directors
also wish to place on record the confidence of members in the company.
For & on behalf of the Board of Director
Date : 30/05/2013
Place: Ludhiana
Sd/- Sd/-
Director Director
Mar 31, 2012
Dear Members
The Directors'' present the Annual report on the business and operations
of your Company for the year 2011-12.
FINANCIAL RESULTS AND OPERATIONAL REVIEW:
Year Ended Year Ended
Particulars 31.03.2012 31.03.2011
(Amt in Rs.) (Amt in Rs.)
Gross Sales/Income 162150 76275
Less Depreciation - -
Profit/(Loss) before Tax 120140 35357
Taxes/Deferred Taxes 36042 10607
Profit/(Loss) After Taxes 84098 24750
P& L Balance b/f 46750 22000
Profit/ (Loss) carried to Balance Sheet 130848 46750
PARTICULARS OF EMPLOYEES:
There are no employees drawing the remuneration in excess of ceiling
prescribed under provisions of Companies (Particulars of Employees)
Rules, 1975 read with Section 217(2A) of the Companies Act, 1956 as
amended from time to time. Hence no information is required to be
appended to this report in this regard.
DIRECTORS:
Mr. Gaurish Shantilal Shah Director of the Company is liable to retire
by rotation at the ensuing Annual General Meeting and being eligible,
offer himself for re-appointment.
RESPONSIBILITY STATEMENT:
As required u/s 217(2AA) of the Companies Act, 1956 your Director
confirms that in the preparation of the annual accounts.
The applicable accounting standards have been followed along with
proper explanation relating to material departures.
Such accounting policies have been selected and applied consistently
and reasonable and prudent judgments and estimates made, so as to give
a true and fair view of the state of affairs of the company at the end
of the financial Year and the profit/loss of the company for that
period.
Proper and sufficient care has been taken for the maintenance of the
adequate accounting records in accordance with provisions of this act
for safeguarding the assets of the company and for preventing and
detecting fraud and other irregularities.
The annual accounts have been prepared on a going concern basis.
CORPORATE GOVERNANCE:
A comprehensive report on corporate governance as stipulated under
Clause 49 of the Listing Agreement is attached to this Report.
The Company has obtained a certificate from the Statutory Auditors
regarding compliance of conditions of Corporate Governance as
stipulated in Clause 49 of the Listing Agreement and the same is
annexed at the end of Corporate Governance Report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE:
As required under rule3 of the companies (Disclosure of Particulars in
the report of Board of Directors) Rules 1998, the particulars relating
to the conservation of energy, Technology absorption, and the foreign
exchange earnings and outgo are also Nil.
APPOINTMENT OF AUDITORS:
M/s. Hemant Parikh & Co., Chartered Accountants, Ahmedabad Auditors of
the Company, hold office until the conclusion of the ensuing Annual
General Meeting. The Company has received letters from them to the
effect that their appointment, if made, would be within the prescribed
limits under Section 224(1- B) of the Companies Act, 1956.
PUBLIC DEPOSITS
The Company has not accepted any deposits from the public during the
year under review. Your Company is listed with the Ludhiana Stock
Exchange.
SEGMENT:
Your Company is engaged in a single segment only.
ACKNOWLEDGEMENT:
The management is grateful to the government authorities, Bankers,
Vendors for their continued assistance and co-operation. The directors
also wish to place on record the confidence of members in the company.
For & on behalf of the Board of Director
Date: 24/07/2012
Place: Ludhiana
Sd/- Sd/-
Director Director
Mar 31, 2011
Dear Members
The Directors'' present the Annual report on the business and operations
of your Company for the year 2010-11.
FINANCIAL RESULTS AND OPERATIONAL REVIEW:
Year Ended Year Ended
Particulars 31.03.2011 31.03.2010
(Amt in Rs.) (Amt in Rs.)
Gross Sales/Income 76275 61875
Less Depreciation - -
Profit/(Loss) before Tax 35357 21964
Taxes/Deferred Taxes 10607 6589
Profit/(Loss) After Taxes 24750 15375
P& L Balance b/f 22000 6625
Profit/ (Loss) carried to Balance Sheet 46750 22000
PARTICULARS OF EMPLOYEES:
There are no employees drawing the remuneration in excess of ceiling
prescribed under provisions of Companies (Particulars of Employees)
Rules, 1975 read with Section 217(2A) of the Companies Act, 1956 as
amended from time to time. Hence no information is required to be
appended to this report in this regard.
DIRECTORS:
Mr. Jignesh Kumar Patel Director of the Company is liable to retire by
rotation at the ensuing Annual General Meeting and being eligible,
offer himself for re- appointment.
RESPONSIBILITY STATEMENT:
As required u/s 217(2AA) of the Companies Act, 1956 your Director
confirms that in the preparation of the annual accounts.
The applicable accounting standards have been followed along with
proper explanation relating to material departures.
Such accounting policies have been selected and applied consistently
and reasonable and prudent judgments and estimates made, so as to give
a true and fair view of the state of affairs of the company at the end
of the financial Year and the profit/loss of the company for that
period.
Proper and sufficient care has been taken for the maintenance of the
adequate accounting records in accordance with provisions of this act
for safeguarding the assets of the company and for preventing and
detecting fraud and other irregularities.
The annual accounts have been prepared on a going concern basis.
CORPORATE GOVERNANCE:
A comprehensive report on corporate governance as stipulated under
Clause 49 of the Listing Agreement is attached to this Report.
The Company has obtained a certificate from the Statutory Auditors
regarding compliance of conditions of Corporate Governance as
stipulated in Clause 49 of the Listing Agreement and the same is
annexed at the end of Corporate Governance Report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE:
As required under rule3 of the companies (Disclosure of Particulars in
the report of Board of Directors) Rules 1998, the particulars relating
to the conservation of energy, Technology absorption, and the foreign
exchange earnings and outgo are also Nil.
APPOINTMENT OF AUDITORS:
M/s. Hemant Parikh & Co., Chartered Accountants, Ahmedabad Auditors of
the Company, hold office until the conclusion of the ensuing Annual
General Meeting. The Company has received letters from them to the
effect that their appointment, if made, would be within the prescribed
limits under Section 224(1- B) of the Companies Act, 1956.
PUBLIC DEPOSITS
The Company has not accepted any deposits from the public during the
year under review. Your Company is listed with the Ludhiana Stock
Exchange.
SEGMENT:
Your Company is engaged in a single segment only.
ACKNOWLEDGEMENT:
The management is grateful to the government authorities, Bankers,
Vendors for their continued assistance and co-operation. The directors
also wish to place on record the confidence of members in the company.
For & on behalf of the Board of Director
Date: 25/07/2011
Place: Ludhiana
Sd/- Sd/-
Director Director