Home  »  Company  »  Khoobsurat Ltd.  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Khoobsurat Ltd.

Mar 31, 2015

1. The company is incorporated on 17th April, 1982 at Calcutta, West Bengal, India. It is a Public limited company by its shares. The activities of the company include trading in textiles, investing in shares & other securities and other related activities.

2. RELATED PARTY DISCLOSURE (ACCOUNTING STANDARD 18)

1) Relationships

A. Wholly owned Subsidiary - None

B. Associate Company - None

C. Companies under the common control of promoters - None

D. Key Management Personnel

1. Goutam Bose

2. Mangelal Joshi

2) Transactions

There has been no related party transactions during the year. Note 2.17

3. SEGMENT REPORTING (ACCOUNTING STANDARD 17)

a) The company has two primary Business Segments viz:

i) Textile Business

ii) Investment Business

b) Secondary Segments

The Company Operates predominantly within the geographical limits of India. It has no secondary segments revenue.

4. The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act,2006 and hence disclosure , if any, relating to amount unpaid as at the year end together with interest paid/payable as requied under the said act, have not been given

5. In accordance with the requirement under the Accounting Standard - 22 "Accounting for taxes on Income" the company has accounted for deferred Tax during the year. Consequently the reversal of deferred tax Liability of Rs. 26985/- during the year arising due to timing difference in depreciation & related items has been charged to Profit & Loss account.

6. Impairment Of Assets

The management of the company has during the year carried out technological evaluation for identification of assets, if any , in accordance with Accounting Standard 28. Based on the judgement of the management and as certified by the directors , no provision for impairment is found to be necessary in respect of any assets. to be necessary in respect of any assets.

7. Events Occurring after Balance Sheet Date

No significant events which could effect the financial position as on March 31, 2015, to a material extent have been reported by the management, after the balance sheet date till the signing of the report.

8. Details of Loans given, Investments made, guarantees given covered under section 186(4) of The Companies Act, 2013

Loans given during the year are disclosed by way of seperate sheet, further no investments are made and no guarantees have been given by the Company.

9. Previous Year figures have been rearranged and regrouped wherever considered necessary.


Mar 31, 2014

1. Related Party Disclosures (AS 18)

Relationship

a. Wholly owned Subsidiary - None

b. Associate Company - None

c. Company under Common Control of Promoter - None

d. Key Management Personnel

1. Mr. Nand Kishore Fogla

2. Mr. Goutam Bose

Transactions

There have been no related party transactions during the year under review.

2. Segment Reporting (Accounting Standard 17)

Primary Segments

Based on guiding principle given in the Accounting Standard -17 "Segment Reporting" issued

by the "Institute of Chartered Accountants of India" the Company''s Segments are-

1. Textile Activities

2. Software Activities

3. Investments & Treasury Operation Activities

The accounting policies adopted or the segment reporting is in line with the accounting policies of the Company with the following additional policies for the segment reporting:

a) Expenses have been included to the Segments on the basis of their relationships to the Accounting activities of the Segment. Expenses which relate to the enterprises as a whole and are not applicable to the segments on a reasonable basis have been included under "Unallocated Expenses".

b) Segment assets include all operating assets used by a segment and consist principally of debtors, stocks, loans & advances.

c) Segment liabilities consist principally of creditors.


Mar 31, 2013

NOTE 1.1 RELATED PARTY DISCLOSURE (ACCOUNTING STANDARD 18)

1) Relationships

A. Wholly owned Subsidiary - None

B. Associate Company - None

C. Companies under the common control of promoters - None

D. Key Management Personnel

1. Goutam Bose

2. Nand Kishore Fogla

2) Transactions

There has been no related party transactions during the year.

Note 1.2 SEGMENT REPORTING (ACCOUNTING STANDARD 17)

a) The company has Two primary business segments viz:

i) Textile Business

ii) Software Business

b) Secondary Segments

The Company Operates predominantly within the geographical limits of India. It has no secondary segments revenue.

Note 1.3

The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act,2006 and hence disclosure, if any, relating to amount unpaid as at the year end together with interest paid/payable as requied under the said act, have not been given.

Note 1.4

Impairment Of Assets

The management of the company has during the year carried out technological evaluation for identification of assets, if any, in accordance with Accounting Standard 28. Based on the judgement of the management and as certified by the directors, no provision for impairment is found to be necessary in respect of any assets.

Note 1.5

The Revised Schedule VI has become effective from 1/4/2011 for the preparation of financial statements. This has signifIcantly impacted the disclosure and presentation made in the financial statements. Previous year figures have been regrouped/reclassified whereever necessary to correspond with the current years classification / disclosure.


Mar 31, 2012

NOTE 1.1 RELATED PARTY DISCLOSURE (ACCOUNTING STANDARD 18)

1) Relationships

A. Wholly owned Subsidiary - None

B. Associate Company - None

C. Companies under the common control of promoters - None

D. Key Management Personnel

1. Goutam Bose

2. Nand Kishore Fogla

2) Transactions

There has been no related party transactions during the year.

Note 1.2 SEGMENT REPORTING (ACCOUNTING STANDARD 17)

a) The company has Three primary business segments viz: i) Textile Business

b) Secondary Segments

The Company Operates predominantly within the geographical limits of India. It has no secondary segments revenue.

Note 1.3

The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act,2006 and hence disclosure , if any, relating to amount unpaid as at the year end together with interest paid/payable as required under the said act, have not been given.

Note 1.4

Impairment Of Assets

The management of the company has during the year carried out technological evaluation for identification of assets, if any, in accordance with Accounting Standard 28. Based on the judgment of the management and as certified by the directors, no provision for impairment is found to be necessary in respect of any assets to be necessary in respect of any assets.

Note 1.5

The Revised Schedule VI has become effective from 1/4/2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year figures have been regrouped/reclassified wherever necessary to correspond with the current years classification / disclosure.


Mar 31, 2011

1. None of the Raw Materials, Stores, Spares and Components consumed or purchased during the year have been imported.

2. None of the Earnings / Expenditures is in Foreign Currency.

3. Balance of Debtors, Creditors, Deposits, Loans and Advances are subject to confirmation.

4. In the opinion of the Board, the Current Assets, Loans & Advances are approximately of the value stated if realized in the ordinary course of business. The provision for depreciation and all known liabilities are adequate and not in excess of the amounts reasonably necessary.

Primary Segment

5. Based on the guiding Principle given in the accounting standard -17 "Segment Reporting" issued by the institute of Chartered Accountants of India, the Company''s Segments are Financial Services Segment, Trading in Textiles goods Segment and Software Services Segment. The accounting policies adopted for the segment reporting are in line with the accounting policies of the company with following additional policies for the segment reporting :

i) Expenses have been included to the Segments on the basis of their relationships to the Accounting activities of the segment, expenses which relate to the enterprises as a whole and are not allocable to the segments on a reasonable basis, have been included under "Unallocated Expenses".

ii) Segment assets include all operating assets used by a segment and consist, principally of debtors & stocks.

iii) Segment liabilities consist principally of creditors.

6. Differed Tax Assets/Liabilities

The company had recognized deferred tax assets and liabilities in terms with Accounting Standard 22 issued by the Institute of Chartered Accountants of India on "Accounting for Taxes on Income" Deferred tax is recognized on timing differences (being the difference between taxable income under Income Tax Act, and Accounting Income) which originate in one period and are capable of reversal in subsequent period Deferred Tax Assets are recognized only if there is reasonable certainly of recouping them against future taxable Profit. All such assets there is reasonable certainly of recouping them against future taxable Profit. All such assets and liabilities are reviewed on each Balance Sheet date to reflect the charged position.

7. Previous years'' figures have been regrouped, rearranged wherever necessary to make them comparable with those of current year.


Mar 31, 2010

Segment Report

Primary Segment

1 Based on the guiding Principle given m tne accounting standard -17 -Segment Reporting" issued by the institute ol Chartered Accountants of India, the Company''s Segments are Capital Market (Securities business), Trading in Textiles goods, Computer Training and Software Services and Financing The accounting policies adopted for the segment reporting are in line with the accounting policies ol the company with following additional policies lor the segment reporting

i) Expenses have been included to the Segments on the basis of their relationships to the Accounting activities of the segment expenses which relate to the enterpnses as a whole and are not allocable to the segments on a reasonable basis, have been included under "Unallocated Expenses"

ii) Segment assets include all operating assets used by a segment and consist, principally of debtors & stocks

iii) Segment liabilities consist principally of creditors.

Related Party Transactions

2 Disclosures as required by the Accounting Standard f 8 "Related Party Disclosure'' issued by the Institute o'' Chartered Accountants ol India.

A. Relationship are given below

a) Directors (existing)

1 Mr Alok Kr Das

2 Mr Nand Klshore Fogla

3 Mr Ramesh Kumar Saraswat

4 Mr Goutam Bose

b) Group Companies where common control exists NIL

B. Transaction with related Parties NIL C Amount Outstanding (Receivable) NIL D. Amount Outstanding (Payable) as on 31st March 2010 NIL

3 Deferred Tax Assets/Liabilities

The company had recognized deterred tax assets and liabikties in terms ol with Accounting Standard 22 issued by the Institute of Chartered Accountants of India on ''Accounting for Taxes on Incon-e" Doferted tax is recognized on timing differences (being the difference between taxable income under Income Tax Act. and Accounting Income) whicti orignate In one period and are capable of reversal In subsequent period Deterred Tax Assets are recognized onty it there is reasonable certainly ot recouping them against future taxable Profit All such assets there is reasonable certainty ot recouping them against future taxable Profit Ail such assets and labilities are reviewed on each Balance Sheet date to reflect the charged position

4 Previous years'' figures have been regrouped, rearranged wherever necessary to made them comparable with those of current year

Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X