Mar 31, 2014
Note 1: Corporate Information
The company having registered office at Mumbai is engaged in the
business of trading of Iron & Steel, but it has not done any business
during the year.
2. OTHER NOTES:- Note 2.1: Segmenting Reporting
The company has handling charges only in Kolkata as other income and no
operational revenue during the year. Hence the Company has no Business
& Geographical Segment during the year. As required by AS-17.
Note 2.2: Related Party Disclosure
There are no transactions with related parties during the year.
Note 2.3: Sundry Debtors/ Creditors Balances
Balances shown under Sundry Debtors, Advances, some of the Sundry
Creditors are subject to confirmation/ reconciliation and consequential
adjustment, if any. However the company has been sending letters for
confirmation to theses parties. In our opinion of management, the value
of sundry debtors, advances, sundry creditors on realization/ payment
in the ordinary course of business, will not be less/ more than the
value at which these balances are stated in the Balance Sheet.
Note 2.4:
Advances & Deposits amounting to Rs. 13,59,752.31/- in Note 3 is
explained by the management to be long pending advances, hence no
interest is considered.
Note 2.5:
Regarding tax deducted at source, concept of materiality and General
Auditing Practice, verbal declaration by the management has been
adopted.
Note 2.6:
All the known liabilities have been provided for and there are no
contingent liability during the year.
Note 2.7:
The directors have waived the sitting fees for the meetings attended by
them during the year.
Note 2.8: Micro, Small and Medium Enterprises Development Act, 2006
The Company has not received information from vendors regarding their
status under the Micro, Small and Medium Enterprises Development Act ,
2006 and hence disclosure relating to amount unpaid as at year end
together with interest paid or payable under this act has not been
given.
Mar 31, 2010
1.1. All the current assets, loans and advances have a value, on
realization at least equal to the amount, at which they are stated in
the accounts.
1.2. All the known liabilities have been provided for and there are no
contingent liabilities during the year.
1.3. Depreciation on fixed assets have been provided during the year
on straight line method at the rate prescribed under schedule XIV of
the companies Act 1956.
1.4. Due to / from small scale industries more than Rs.1 lac. Nil.
1.5. Balance with sundry debtors, creditors are subject to
confirmation from the respective parties and consequential /
adjustments arising there form, if any.
2.6. In absence of virtual certainty of sufficient taxable income, net
deferred tax assets has not been recognized by way of prudence in
accordance with Accounting Standard (AS) 22 "Accounting for taxes on
Income" issued by the Institute of Chartered Accountants of India.
1.7. Segmental Reporting
The Company is engaged in selling of Iron & Steel products only. Hence,
the company has no Business & Geogrphical Segment during the year.
1.8. RelatedParty Disclosure :
There is no related party transaction during the year.
1.9 Previous year figures have been regrouped and / or rearranged
wherever considere necessary
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