Notes to Accounts of Jolly Plastic Industries Ltd.

Mar 31, 2025

Retained Earnings

Retained earnings are created from the profit / loss of the company, as adjusted for distributions to owners, transfer to other reserves etc Securities premium

Securities premium is used to record the premium on issue of shares. The premium will be utilised in accordance with provision of the act._

16 Contingent Liabilities and commitments
Particulars	For the	year Ended
	March 31, 2025	March 31, 2024
Guarantee given by bank	Nil	Nil
Income Tax matter in dispute	Nil	Nil
17 Obligation & Commitments outstanding
Particulars	For the year Ended
	March 31, 2025	March 31, 2024
a). Estimated Value of contracts remaining to be executed	Nil	Nil
b). Bill Discounted with Bank	Nil	Nil

18.a). The response to letters sent by the Company requesting confirmation of balances has been insignificant. In the management''s opinions, adjustment on reconciliation of the balances, if any required, will not be material in relation to the financial statements of the company and the same will be adjusted in the financial statements as and when the confirmations are received and reconciliations are completed.

b) . Inventories, loans & advances, trade receivables and other current / non-current assets are reviewed annually and in the opinion of the management do not have a value on realization in the ordinary course of business, less than the amount at which they are stated in the balance sheet.

c) . Previous year figures have been regrouped and rearranged to make them comparable with the current year figures.

19) The company operates in two types of business i.e., Income form Shares & Interest Income and single geographical segment i.e. Within India Accordingly no separate disclosures for primary Business and Second Geographical segment are required.

(ii) The company do not own any immovable property which is in the name ot the company.

(iii) The company does not hold any investments.

(iv) The Company does not have any benami property, where any proceeding has been initiated or pending

against the Company for holding any benami property.

(v) The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.

(vi) The company does not have any Intangible assets under development.

(vii) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including

foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or

on behalf of the company (ultimate beneficiaries) or

(b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries

(viii) The Company has no subsidiary'' company therefore Rules with regard to the number of layers prescribed

under clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017 are not applicable.

(ix) The Company has not received funds from person(s) or entity (ices) with the understanding (whether

recorded in writing or otherwise) that the Company.

shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party'' (Ultimate Beneficiaries) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries

(x) The company does not have any transactions with the companies struck off under section 248 of Companies

Act, 2013 or section 560 of Companies Act, 1956.

(xi) The Provision of section 135 is not applicable on the Company and accordingly the company is not required

to spent on CSR activities.

(xii) The Company has registered chatges with ROC

(xiii) The company has not borrowed funds from banks or financial institutions on the basis of the security of

current assets for which the quarterly statements are to be submitted to the bank.

(xiv) The Company has not revalued its Property, Plant & Equipment (including Right of Use Assets)

(xiv) During the year, no scheme of Arrangements has been applied by the company to the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013.

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Mar 31, 2015

1. Contingent Liabilities

As certified by the management there is no Contingent liability as on 31.03.2015.

2. Related Party Disclosure:

In accordance with the requirements of Accounting Standards (AS) – 18 on Related Party Disclosures, the names of the related parties where control exists and/or with whom transactions have taken place during the year and descriptions of relationships, as identified and certified by the management, are:

I. Key Management Personnel

3. Previous years' figures have been regrouped, rearranged and re casted wherever considered necessary to make them comparable with the current year's figures.

4. In the opinion of the Board of Directors and to the best of their knowledge and belief the realizable value of Current Assets, Loans and Advances in ordinary course of business is not less than the value stated in the Balance Sheet.

5. Earnings Per Share (EPS)

Profit computation for both Basic and Diluted earnings per share of Rs, 10/- each.

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Mar 31, 2014

1. Contingent Liabilities

As certified by the management there is no Contingent liability as on 31.03.2014.

2. Related Party Disclosure:

In accordance with the requirements of Accounting Standards (AS)-18 on Related Party Disclosures, the names of the related parties where control exists and/or with whom transactions have taken place during the year and descriptions of relationships, as identified and certified by the management, are:

I. Key Management Personnel

* Mr. Shyam Mohan Mittal (Managing Director)

* Mr. Braj Mohan Singh (Director)

* Mr. Kishore Saxsena (Director)

3. Previous years'' figures have been regrouped, rearranged and re casted wherever considered necessary to make them comparable with the current year''s figures.

4. In the opinion of the Board of Directors and to the best of their knowledge and belief the realizable value of Current Assets, Loans and Advances in ordinary course of business is not less than the value stated in the Balance Sheet.

5. The additional Information pursuant to revised Schedule VI to the Companies Act, 1956 are either Nil or Not Applicable.

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Mar 31, 2013

1. Cash Flow Statement:

a) The Statement has been prepared under indirect method except in case of dividends, sale/purchase of investments and taxes which have been considered on the basis of actual movement of case, with corresponding adjustment in assets and liabilities as set out in the Accounting Standard- 3 (AS 3) issued by ICAI.

b) Cash and cash equivalents represent cash and bank balances only.

2. Segment Reporting

Based on guiding principles given in Accounting Standard -17 ''Segment Reporting'', issued by the Institute of Chartered Accountants of India, the Company''s primary business segment is manufacturing and trading of consumable products. These activities mainly have similar risks and returns. As company''s business activities fall within a single primary business segment the disclosure requirements of AS-17 in this regard are not applicable.

3. Contingent Liabilities

As certified by the management there is no Contingent liability as on 31.03.2013.

4. Related Party Disclosure:

In accordance with the requirements of Accounting Standards (AS) - 18 on Related Party Disclosures, the names of the related parties where control exists and/or with whom transactions have taken place during the year and descriptions of relationships, as identified and certified by the management, are:

I. Key Management Personnel

- Mr. Shyam Mohan Mittal (Chairman and Managing Director)

- Mr. Braj Mohan Singh - (Director)

- Mr. Kishore Saxsena (Director)

- Mr. Dharmesh Bhai Patel (Director)

II. As informed by the management there was no related party transactions made during the year.

5. Previous years'' figures have been regrouped, rearranged and re casted wherever considered necessary to make them comparable with the current year''s figures.

6. In the opinion of the Board of Directors and to the best of their knowledge and belief the realizable value of Current Assets, Loans and Advances in ordinary course of business is not less than the value stated in the Balance Sheet.

7. The additional Information pursuant to revised Schedule VI to the Companies Act, 1956 are either Nil or Not Applicable.

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Mar 31, 2012

1. Cash Flow Statement:

a) The Statement Has been prepared under indirect method except in case of dividends, sale/purchase of investments and taxes which have been considered on the basis of actual movement of case, with corresponding adjustment in assets and liabilities as set out in the Accounting Standard- 3 issued by ICAI.

b) Cash and cash equivalents represent cash and bank balances only.

2. Segment Reporting

Based on guiding principles given in Accounting Standard -17 'Segment Reporting', issued by the Institute of Chartered Accountants of India, the Company's primary business segment is manufacturing and trading of consumable products. These activities mainly have similar risks and returns. As company's business activities fall within a single primary business segment the disclosure requirements of AS-17 in this regard are not applicable.

3. Contingent Liabilities

As certified by the management there is no Contingent liability as on 31.03.2012.

4. Related Party Disclosure:

In accordance with the requirements of Accounting Standards (AS) - 18 on Related Party Disclosures, the names of the related parties where control exists and/or with whom transactions have taken place during the year and descriptions of relationships, as identified and certified by the management, are:

I. Key Management Personnel

- Mr. Braj Mohan Singh (Chairman and Non Executive Independent)

- Mr. Shyam Mohan Mittal (Managing Director and Executive)

- Mr. Kishore Saxsena (Non Executive Independent)

- Mr. Dharmesh Bhai Patel (Non Executive and Non Independent)

5. Previous years' figures have been regrouped, rearranged and re casted wherever considered necessary to make them comparable with the current year's figures.

6. In the opinion of the Board of Directors and to the best of their knowledge and belief the realizable value of Current Assets, Loans and Advances in ordinary course of business is not less than the value stated in the Balance Sheet.

7. The Board of Directors of the Company in its Board Meeting held on 7th March, 2012, has approved the further issue of 55,00,000 equity shares on preferential basis, subject to the approval of share holders and other statutory authorities. The Company has received Share Application Money amounting Rs. 532.75 lacs during the year. As per new Revised Schedule VI the said amount has been shown under the head "Other Current Liabilities".

8. The additional Information pursuant to revised Schedule VI to the Companies Act, 1956 are either Nil or Not Applicable.

9. The financial statements for the year ended 31st March, 2011 were prepared as per then applicable, pre- revised Schedule VI to the Companies Act, 1956. Consequent to the notification of Revised Schedule VI under the Companies Act, 1956, the financial statements for the year ended 31st March, 2012 are prepared in compliance with the Revised Schedule VI. Accordingly, the previous year figures have also been reclassified/regrouped to conform to current year's classification. The adoption of Revised Schedule VI for previous year figures does not impact recognition and measurement principles followed for preparation of the financial statements.

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Mar 31, 2011

1. Cash Flow Statement:

a) The Statement Has been prepared under indirect method except in case of dividends, sale/purchase of investments and taxes which have been considered on the basis of actual movement of case, with corresponding adjustment in assets and liabilities as set out in the Accounting Standard- 3 issued by ICAI.

b) Cash and cash equivalents represent cash and bank balances only

2. Segment Reporting

The Companies core activity is to investment, sale/purchases of Shares. This is the only business segment as per Accounting Standard-17 issued by the Institute of Chartered Accountants of India.

3. Contingent Liabilities

As certified by the management there is no Contingent liability as on 31/03/2011.

4. Related Party Disclosure:

As per AS-18 issued by the ICAI Management, it is identified that no Related Party Transaction was made during the year.

5. Previous years' figures have been regrouped, rearranged and Re casted wherever considered necessary to make them comparable with the current year's figures.

6. In the opinion of the Board of Directors and to the best of their knowledge and belief the realizable value of Current Assets, Loans and Advances in ordinary course of business is not less than the value stated in the Balance Sheet.

7. Due to Small Scale Undertakings exceeding Rs. 1.00 lac overdue for more than 30 days - Nil

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Mar 31, 2009

1 Previous year figures have been regrouped and/ or rearranged where ever considered necessary & practicable to make them comparable with current year's figures.

2. Debit and credit balance in the accounts of various parties are subject to their confirmation.

3. In the opinion of the management and to the best of their knowledge and belief, the value on realisation of current assets, Loans & Advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet. The provisions of all known liabilities are adequate.

4. Provision for Taxation is made on basis of the estimated liability with adjustment for deferred tax, in terms of Accounting Standard 22 formulated by the Institute of Chartered Accountants of India.

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Mar 31, 2008

1 Previous year figures have been regrouped and/or rearranged where ever considered necessary & practicable to make them comparable with current year's figures.

2. Debit and cerdit balance in the accounts of various parties are subject to their confirmation.

3. In the opinion of the management and to the best of their knowledge and belief, the value on realisation of current assets, Loans & Advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet. The provisions of all known liabilities are adequate.

4. Provision for Taxation is made on basis of the estimated liability with adjustment for deferred tax, in terms of Accounting Standared 22 formulated by the Institute of Chartered Accountants of India.

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Mar 31, 2007

Not available

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Mar 31, 2006

1 Previous year figures have been regrouped and/or rearranged where ever considered necessary & practicable to make them comparable with current year's figures.

2. Debit and credit balance in the accounts of various parties are subject to their confirmation.

3. In the opinion of the management and to the best of their knowledge and belief, the value on realisation of current assets, Loans & Advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet. The provisions of all known liabilities are adequate.

4. Provision for Taxation is made on basis of the estimated liability with adjustment for deferred tax, in terms of Accounting Standard 22 formulated by the Institute of Chartered Accountants of India.

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Mar 31, 2003

1. The liability for Gratuity accrued till 31st March- 2003 amounting to Rs. 439473/- (Previous year Rs. 439473/-) is provided in the Books of Account. The valuation of accrued liability is made by the company.

2. In view of not carrying out any manufacturing activity during the year, the company has not provided Depreciation on Fixed Assets during the year.

3. In view of Loss incurred, by the company, no provision for Taxation is required.

4. In the opinion of the Board of Directors, current Assets and Loan & Advances have the value on realisation in ordinary course of Business, atleast equally to the amount at which they are stated in the Balance Sheet.

5. Remuneration paid to the Directors in aggregate Including all to the tune of Rs. NIL/- (Previous year Rs. 360000/-)

6. The provision for all known-Liabilities is adequate and not in excess of the amount reasonably required.

7. Confirmation of Debit/Credit Balances have not been received and hence these Balances are subject to adjustments if any.

8. The working capital Loan lender i.e. Central Bank of India- Dhoraji has considered the working capital loan outstanding as N.P.A. and has discontinued charging of interest. The company has not made the provisions for interest on the said loan for the period from Oct-2002 to March- 2003. The amount is not ascertainable.

9. Additional Information pursuant of paragraphs 3 (i), (ii), 4B, 4C and 4D of part II of schedule VI of the companies Act, 1956.

a) No employee was covered under section 217 ( 2-A ) of the companies Act, 1956, read with the companies (Particulars of employees') Rules, 1975.

* NOTE : During the Financial Year 2001-02, the company has changed the maintenance of stock Records of the Manufacturing Goods. The company has maintained the records of the production, sales & Closing stock in meter, Nos., Kgs. and the opening stock of Finished Goods was worked out on Kg. basis, and hence it is not possible to give quantitative information of Finished Goods, as the company has because of change in mainaing records in respect of Finished Goods not maintained the quantitative details of Finished Goods in Kgs. in this circumstances, quantitative details for F.Y. 2001-02 are not possible to obtained.

10. Previous year figures have been re-grouped/re-arranged and re-classified in view of the easy comparison with current year's figures.

11. The paises have been eliminated to the nearest rupee for convenience.