Mar 31, 2019
Note 1. The Company Overview
Gothi Plascon (India) Limited (or the âCompanyâ), is a pioneer in real estate has excelled over the years to offer an array of professional services in the realty business.
Gothi Plascon (India) Limited is a public limited company incorporated and domiciled in India. The address of its registered office is , Gothi Plascon (India) Limited, 17/5B,1 A ,Vazhudavur Road, Kurumbapet, Puducherry - 605009, India. The company has its primary listing with BSE Ltd.
(Bombay Stock Exchange) .Company is Engaged in business of renting of Immovable Properties.
Note 2. Basis of preparation of financial statements
I. Statement of compliance and basis of preparation
These financial statements are prepared in accordance with Indian Accounting Standards (âInd ASâ), the provisions of the Companies Act, 2013 (âthe Companies Actâ), as applicable and guidelines issued by the Securities and Exchange Board of India (âSEBIâ). The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016
Accounting policies have been applied consistently to all periods presented in these financial statements.
The financial statements correspond to the classification provisions contained in Ind AS 1, âPresentation of Financial Statementsâ. For clarity, various items are aggregated in the statements of profit and loss and balance sheet. These items are disaggregated separately in the notes to the financial statements, where applicable All amounts included in the financial statements are reported in actual denominations of Indian rupees except share and per share data, unless otherwise stated. Due to rounding off, the numbers presented throughout the document may not add up precisely to the totals and percentages may not precisely reflect the absolute figures. Previous year figures have been regrouped/re-arranged, wherever necessary.
II. Basis of measurement
These financial statements have been prepared on a historical cost convention and on an accrual basis.
III. Use of estimates and judgment
The preparation of the financial statements in conformity with Ind AS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from those estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected. In particular, information about significant areas of estimation, uncertainty and critical judgments in applying accounting policies that have the most significant effect on the amounts recognised in the financial statements are included in the following notes:
a. Revenue Recognition
Revenue has been measured based on fair value of the consideration received/receivable.
b. Income Tax
The major tax jurisdiction for the Company is in India. Significant judgments are involved in determining the provision for income taxes including judgment on whether tax positions are probable of being sustained in tax assessments. A tax assessment can involve complex issues, which can only be resolved over extended time periods. Income Taxes have been calculated based on The Income Tax Act, 1961 read with Rules there under.
c. Deferred Tax
Deferred tax is recorded on temporary differences between the tax bases of assets and liabilities and their carrying amounts, at the rates that have been enacted or substantively enacted at the reporting date. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable profits during the periods in which those temporary differences and tax loss carryforwards become deductible. The Company considers the expected reversal of deferred tax liabilities and projected future taxable income in making this assessment. The amount of the deferred tax assets considered realisable, however, could be reduced in the near term if estimates of future taxable income during the carry-forward period are reduced.
d. Useful lives of property, plant and equipment
The Company depreciates property, plant and equipment on a straight-line basis over estimated useful lives of the assets. The charge in respect of periodic depreciation is derived based on an estimate of an assetâs expected useful life and the expected residual value at the end of its life. The lives are based on historical experience with similar assets as well as anticipation of future events, which may impact their life, such as changes in technology. The estimated useful life is reviewed at least annually.
IV. Current and Non Current classification
All assets and liabilities have been classified as current or non-current as per the Companyâs normal operating cycle (twelve months) and other criteria set out in the Schedule III to the Act.
Mar 31, 2016
1. Average percentile increase already made in the salaries of
employees other than the managerial personnel in the last financial
year and its comparison with the percentile increase in the managerial
remuneration and justification thereof - Refer point 6 above
2. Comparison of the each remuneration of the Key Managerial Personnel
against the performance of the company - Refer point 6 above
3. The key parameters for any variable component of remuneration
availed by the director No variable paid
4. The ratio of the remuneration of the highest paid director to
that of the employees who are not directors but receive remuneration in
excess of the highest paid director during the year NIL
5. Affirmation that the remuneration is as per the remuneration policy
of the company YES
6. If employed throughout the financial year, was in receipt of
remuneration for that year which, in the aggregate, was not less than
sixty lakh rupees NIL
7. If employed throughout the financial year or part thereof, was in
receipt of remuneration in that year which, in the aggregate, or as the
case may be, at a rate which, in the aggregate, is in excess of that
drawn by the managing director or whole-time director or manager and
holds by NIL
8. Provided that the particulars of employees posted and working in a
country outside India, not being directors or their relatives, drawing
more than sixty lakh rupees per financial year or five lakh rupees per
month, as the case may be, as may be decided by the Board, shall not be
circulated to the members in the Board''s report, but such particulars
shall be filed with the Registrar of Companies while filing the
financial statement and Board Reports NIL
a) TERMS/RIGHTS ATTACHED TO EQUITY SHARES
1. The company has only one class of equity shares having par value of
10 per share. Each holder of equity share is . entitled to one vote
per share . The company declares and pays dividends in Indian rupees.
The dividend proposed by the Board of directors is subject to the
approval of the shareholders in the ensuring Annual General Meeting.
During the year ended 31 March 2016 , the amount of per share dividend
recognised as distributions to equity shareholders was Nil.(31 March
2015 : Nil)
In the event of liquidation of the company , the holders of equity
shares will be entitled to receive remaining assets of the company,
after distribution of all preferential amounts. The distribution will
be proportion to the number of equity shares held by the shareholders.
Aggregate number of bonus shares issued, shares issued for
consideration other than cash and shares bought back during the period
of five years immediately proceeding the reporting date is Nil.
Shares reserved for issue under options and contracts/commitments for
the sale of shares/disinvestments are Nil. Shares held by
holding/ultimate holding company and/or their subsidiaries/associates
are Nil.
9. EARNINGS PER SHARE
Basic earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders (after
deducting preference dividends and attributable taxes) by the weighted
average number of equity shares outstanding during the period. For the
purpose of calculating diluted earnings per share, the net profit or
loss for the period attributable to equity shareholders and the
weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
10. SEGMENT REPORTING
The company''s business consists of one primary reportable business
segment of rental income, hence no separate disclosures pertaining to
attributable revenues, profits, assets, liabilities and capital
employed are given as required under Accounting Standard  17.
11. Leases
The Company has leased out its building on operating lease. There are
no non cancellable leases.
12. Previous year figures have been regrouped wherever necessary to
conform to current years classification.
Mar 31, 2015
1. CORPORATE INFORMATION
Gothi Plascon (India) Limited (the company) is a public company
domiciled in India and incorporated under the provisions of the
Companies Act, 1956. Its shares are listed on one stock exchange in
India.
2. BASIS OF ACCOUNTING
The financial statements of the company have been prepared in
accordance with the generally accepted accounting principles in India
(Indian GAAP). The company has prepared these financial statements to
comply in all material respects with the accounting standards notified
under section 133 of the Companies Act 2013, read together with
paragraph 7 of the Companies (Accounts) Rules 2014. The financial
statements have been prepared on an accrual basis and under the
historical cost convention The accounting policies adopted in the
preparation of financial statements are consistent with those of
previous year
3.share capital
a) TERMS/RIGHTS ATTACHED TO EQUITY SHARES
1. The company has only one class of equity shares having par value of
10 per share. Each holder of equity share is . entitled to one vote
per share. The company declares and pays dividends in Indian rupees.
The dividend proposed by the Board of directors is subject to the
approval of the shareholders in the ensuring Annual General Meeting.
During the year ended 31 March 2015, the amount of per share dividend
recognized as distributions to equity shareholders was Nil.(31 March
2014: Nil)
In the event of liquidation of the company, the holders of equity
shares will be entitled to receive remaining assets of the company,
after distribution of all preferential amounts. The distribution will
be proportion to the number of equity shares held by the shareholders.
4. SEGMENT REPORTING
The company's business consists of one primary reportable business
segment of rental income, hence no separate disclosures pertaining to
attributable revenues, profits, assets, liabilities and capital
employed are given as required under Accounting Standard - 17.
5. RELATED PARTY TRANSACTIONS
Related parties with whom transactions have taken place:
Sl.No. Name Relationship
1 Gothi Impex Enterprises where Director
has significant control or influence
2 Sanjay Gothi HUF Enterprises where key management
personnel has significant control or
influence
3 Sumitra Gothi Relative of Director
4 Sanjana Gothi Relative of Director
5 Pranay Gothi Relative of Director
6 Parasmal Gothi Director
Mar 31, 2014
1. CORPORATE INFORMATION
Gothi Plascon (India) Limited (the company) is a public company
domiciled in India and incorporated under the provisions of the
Companies Act, 1956. Its shares are listed on one stock exchange in
India. The company was engaged in the manufacturing and selling of
plastic items. The company caters to domestic markets only. Company has
stopped its operation of manufacturing and selling of plastic items and
earning rental income.
2. BASIS OF ACCOUNTING
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The company has prepared these financial statements to
comply in all material respects with the accounting standards notified
under the Companies
(Accounting Standards) Rules, 2006, (as amended) and the relevant
provisions of the Companies Act, 1956 as per revised Schedule VI. The
financial statements have been prepared on an accrual basis and under
the historical cost convention.
The accounting policies adopted in the preparation of financial
statements are consistent with those of the previous year.
A) CONTINGENT LIABILITIES
A contingent liability is a possible obligation that arises from past
events whose existence will be confirmed by the occurrence or
non-occurrence of one or more uncertain future events beyond the
control of the company or a present obligation that is not recognized
because it is not probable that on outflow of resources will be
required to settle the obligation. A contingent It ability also arises
in extremely rare cases where there is a liability that cannot be
recognized because it cannot be measured reliably. The company does not
recognized a contingent liability but discloses its existence in the
financial statements.
B) FOREIGN CURRENCY TRANSACTIONS Expenditure in Foreign Currency - Nil
Earning in Foreign Currency - Nil
C) EBITDA
As permitted by the Guidance Note on the Revised Schedule Vlto the
Companies Act, 1956, the company has elected to present earnings before
interest, tax, depreciation and amortization (EBITDA) as a separate
line item on the face of the statement of profit and loss. The company
measures EBITDA on the basis of profit/ (loss) from continuing
operations. In its measurement, the company does not include
depreciation and amortization expense, finance costs and tax expense.
i) PROVIDENT FUND No provident fund is payable by company. In the
opinion of the Board of Directors, Current Assets, Loans and Advances
have a value on realization, in the ordinary course of business, at
least equal to the amount at which they are stated.
Mar 31, 2013
1. Business Loss and unabsorbed depreciation carried over as per
Income Tax Act up to 31.03.2013 is Rs 6,50b65,l 15 which will be
adjusted against profits of the Company in subsequent years. Continent
tax benefits out of such adjustment is not accounted for as the Company
is not anticipating the profit to the extent of accumulated losses.
2. Exceptional items disclosed on the race of Statement of Profit &
Loss represents the loss on sale of assets amounting to Rs 44,00,278
3. Previous year figures have been regrouped wherever necessary.
4. CORPORATE INFORMATION
Gothi Plascon (India) Limited (the company) is a public company
domiciled in India and incorporated under the provisions of the
Companies Act, 1956. Its shares are listed on one stock exchange in
India. The company is engaged in the manufacturing and selling of
plastic items. The company caters to domestic markets only.
5. BASIS OF ACCOUNTING
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The company has prepared these financial statements to
comply in all material respects with the accounting standards notified
under the Companies (Accounting Standards) Rules, 2006, (as amended)
and the relevant provisions of the Companies Act, 1956 as per revised
Schedule VI. The financial statements have been prepared on an accrual
basis and under the historical cost convention.
Mar 31, 2012
1. Contingent Liabilities
A contingent liability is a possible obligation that arises from past
events whose existence will be confirmed by the occurrence or
non-occurrence of one or more uncertain future events beyond the
control of the company or a present obligation that is not recognized
because it is not probable that an outflow of resources will be
required to settle the obligation. A contingent liability also arises
in extremely rare cases where there is a liability that cannot be
recognized because it cannot be measured reliably. The company does not
recognize a contingent liability but discloses its existence in the
financial statements.
2. Expenditure in Foreign Currency - Nil
Earning in Foreign Currency - Nil
3. FOREIGN EXCHANGE TRANSACTIONS: - Nil
4. PROVIDENT FUND:
Company's contribution to provident fund is accounted on accrual basis
and is charges to revenue account.
5. In the opinion of the Board of Directors, Sundry debtors, Current
assets, Loans and Advances have a value on realization, in the ordinary
course of business, at least equal to the amount at which they are
stated.
6. The company is yet to receive confirmations from parties in
respect of balances outstanding in sundry debtors and creditors.
7. Long Term borrowings
Aggregate number of bonus shares issued, shares issued for
consideration other than cash and snares bought back during the period
of five years immediately preceding die reporting date is Nil Shares
reserved for issue under options and contracts/commitments fix the sale
of shares/disinvestment are Nil
Shares held by holding/ultimate holding company and/or their
subsidiaries/associates are Nil
There are no unpaid calls on any shares and mere are no forfeited
shares.
8. SEGMENT REPORTING:
The Company's business consists of one primary reportable business
segment of manufacturing and sale of Plastic items with manufacturing
facility at single place and consists of major revenue on account of
domestic sales, hence no separate disclosures pertaining to
attributable revenues, profits, assets, liabilities and capital
employed are given as required under Accounting Standard -17.
9. EARNINGS PER SHARE (EPS)
The earnings considered in ascertaining the Company's Earnings per
share comprise of net profit after tax. The number of shares used in
computing Basic earnings per share is the weighted average number of
shares outstanding during the year. The numerators and denominators
used to Calculate earnings per share.
Mar 31, 2011
1. Previous Year figures have been rearranged and regrouped wherever
necessary.
2. Loss on Sale of Fixed Assets Accounted NIL
3. Directors have not withdrawn managerial remuneration due to loss in
company although they are entitled to, even in the case of loss except
Sri. K. Desikan who has withdrawn Rs. 2,28,600/-
4. FOREIGN EXCHANGE TRANSACTIONS:-Nil
5. PROVIDENT FUND:
Companys contribution to provident fund is accounted on accrual basis
and is charges to revenue account.
6. In the opinion of the Board of Directors, Sundry debtors, Current
assets, Loans and Advances have a value on realization, in the ordinary
course of business, at least equal to the amount at which they are
stated.
7. The company is yet to receive confirmations from parties in
respect of balances outstanding in sundry debtors and creditors.
8. SEGMENT REPORTING:
The Companys business consists of one primary reportable business
segment of manufacturing and sale of Plastic items with manufacturing
facility at single place and consists of major revenue on account of
domestic sales, hence no separate disclosures pertaining to
attributable revenues, profits, assets, liabilities and capital
employed are given as required under Accounting Standard -17.
9. As there is loss, no tax is deferred.
10. Business Loss and Unabsorbed depreciation being carried over as per
Income Tax Act up to 31/03/2011 is Rs. 807.80. Lakhs, which will be
adjusted against profits of company in subsequent year. Contingent Tax
benefits out of such adjustment is not accounted for as there is very
rare chances of future tax liability.
Mar 31, 2010
1. Previous Year figures have been rearranged and regrouped wherever
necessary.
2. Loss on Sale of Fixed Assets Accounted Rs. 24,75,937.26/-
3. Directors have not withdrawn managerial remuneration due to loss in
company although they are entitled to, even in the case of loss except
Sri. K. Desikan who has withdrawn Rs. 2,01,600/-
4. FOREIGN EXCHANGE TRANSACTIONS: - Nil
5. PROVIDENT FUND:
Companys contribution to provident fund is accounted on accrual basis
and is charges to revenue account.
6. In the opinion of the Board of Directors, Sundry debtors, Current
assets, Loans and Advances have a value on realization, in the ordinary
course of business, at least equal to the amount at which they are
stated.
7. The company is yet to receive confirmations from parties in
respect of balances outstanding in sundry debtors and creditors.
8. SEGMENT REPORTING:
The Companys business consists of one primary reportable business
segment of manufacturing and sale of Plastic items with manufacturing
facility at single place and consists of major revenue on account of
domestic sales, hence no separate disclosures pertaining to
attributable revenues, profits, assets, liabilities and capital
employed are given as required under Accounting Standard -17.
9. As there is loss, no tax is deferred.
10. Business Loss and Unabsorbed description being carried over as per
Income Tax Act up to 31/03/2010 is Rs.1,044.45 Lakhs, which will be
adjusted against profits of company in subsequent year. Contingent Tax
benefits out of such adjustment is not accounted for.
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