Mar 31, 2015
1 Corporate information
Filatex Fashion Limited has been incorporated on 8th March, 1994. At present the company is engaged in thebusiness of manufacturing of Socks.
2 Basis of accounting and preparation of financial statements
The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Con~paniesA ct, 1956. The financial statements have been prepared on accrual basis under the historical cost convention. The accounting policies adopted in the preparation of the financial statements are consistent with those followed in the previous years.
3 Terms / rights attached to equity shares
The company has only one class of equity shares having a face value of Rs.5 per share. Each holder equity share is entitled to one vote per share. The dividends recommended by the Board of Director: any are subject to the approval of the shareholders in the ensuing Annual General Meeting.
4 In the event of liquidation of the Company, the equity share holders are entitled to receive t remaining assets of the Company after distribution of all preferential amounts. In proportion to 1 numberof shares held.
5 All the installments falling due within 12 months from the date of Balance Sheet have been classified as current liabilities, the aggregate of which is shown as current maturities of long term borrowings under Note -11, 'Other Current Liabilities'.
6 In the opition of the management, the Current Assets, Loans and Advance are expected to realise at east the amount at which they are stated, if realised in the ordinary course of business and provision for all known liabilities have been adequate made in the accounts
7 Related Party Disclosures :
8 Contingent Liabilities
Claims against the company not March 2015 March 2014 acknowledged as debts
Bank Guarantees issued by bank NIL NIL
* on behalf of company
* on behalf of others NIL NIL
Other money for which the company is contingently liable NIL NIL
Loans and Advances in the nature of loans given to subsidiaries associates and firms / companies in which dire interested:
9 i) Disclosure of Sundry Creditors Trade Payables on the information available with the Company regarding the status of the suppliers as defined the "Micro, small and Medium Enterprised Development Act, 2006" and relied by the Auditors,
ii) Details of total outstanding dues to Micro and Small Enterises as per "Micro, Small and Medium Enterprise Development Act, 2006"
10As per Accounting Standard 22 " Accounting for Taxes on income" issued by the Institute of Chartered Accountants of India Rs. 7,34,519.00 ( Previous year Rs 1,25,000.00 of Deferred Tax Liability ) of deferred tax asset arising during the financial year has been credited to the current year1 s Profit and Loss Account.
11 Related party Transaction
Interest free inter deposits from M/S-'LLUMINNATI CONSRUCTIONS LTD Amount
Related Parties : Mr. Prabhat Sethia - Director : Mrs. Sangeeta Sethia - Director
12 Balances laving in Various accounts I.e.Advances roc capital goods, expenses and supples creditors tor capital goods, expenses and suppliers and amounts payable t0 institutions are subject to confirmation with
13 curren t'year1 s classification /disclosures reclassified wherever necessary to correspond with the current year s classification /disclosure, paisa has been rounded off to the nearest rupee.
Mar 31, 2010
1. The Balances in respect of Sundry creditors, Sundry Debtors, Loans & Advances are subject to confirmation and as per the Managements view they are realisable.
2. Particulars of Employees in accordance with Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars Of Employees) Ã NIL
3 During the year there were no dues to SSI Co., / Firms.
4. Paises were rounded off to the nearest Rupee.
5. Advance/Loans given to Company under the same Management as defined under Sec. 370(1 B) of the Companies Act, 1956 is : Nil
6. Related Party Transactions as per AS 18 is NIL:
7. Estimated amount of Contracts remaining to be Executed on Capital Account and not provided for - NIL
8. Regarding the stocks the management certification was taken into consideration
9.Previous Year Figures regrouped where ever necessary.