Mar 31, 2015
1. The Financials of the company are prepared and present for a period
of 12 months from 1st April 2014 to 31st March 2015 and previous period
figure are for a period of 12 Months ended 31st March 2014.
2. Details of Auditors' Remuneration As Audit Fee
:Rs.50,000/-(Previous year Rs.50000/-)
3. Related Party Disclosures
Related party disclosures, as required by AS-18, "Related Party
Disclosures", of the Institute of Chartered Accountants of India are
given below:
A) Name of the Related Parties and Nature of relationship based on
Control.
Name of the Party Nature of Relationship
Hitesh M. Patel Managing Director
Bhavna H. Patel Relative of Director
i.The related parties are as under:
Hitesh M. PatelÂManaging Director Key Management Personnel (KMP)
namely:
S.No. Name of the KMP Holding Position as on year ending
31-03-2015.
1 Hitesh M. Patel Managing Director
ii. Transactions with related party
During the period the company has made the following transactions with
related parties :
Name of the Related Nature of Opening Transactions
Party Transaction Balance during Period
the Company Amount Amount in Rs.
in Rs.
Hitesh M.Patel Unsecured loan 2158915 5572000
Relatives of Director Unsecured loan 2072429 2072429
Mr. Hitesh M. Patel
and other directors.
Name of the Related Balance
Party Outstanding as at
31st March 2015
Amount in Rs.
Hitesh M.Patel 7730915
Relatives of Director -
Mr. Hitesh M. Patel
and other directors.
4. Sundry Debtors are subject to confirmations and the balances have
not been confirmed by the individual debtors. Sundry Debtors balances
are confirmed by the management.
5. Contingent Liabilities as on the date of Balance Sheet NIL
6. Schedules referred to in the financial statement form an integral
part of accounts.
Mar 31, 2014
1. The Financials of the company are prepared and present for a period
of 12 months from 1st April 2013 to 31" March 2014 and previous period
figures are for a period of 12 Months ended 31" March 2013.
2. Details of Auditors'' Remuneration As Audit Fee
:Rs.50,000/-(Previous year Rs.30000/-)
3. Related Party Disclosures
Related party disclosures, as required by AS-18, "Related Party
Disclosures", of the Institute of Chartered Accountants of India are
given below:
1. Sundry Debtors are subject to confirmations and the balances have
not been confirmed by the individual debtors. Sundry Debtors balances
are confirmed by the management.
2. Purchases and sales were made in the state of Maharashtra, and
there is no inventory as on year ending 31st March 2014.
3. Contingent Liabilities as on the date of Balance Sheet NIL
4. Schedules referred to in the financial statement form an integral
part of accounts.
Mar 31, 2013
1. FIXED ASSETS:
To state Fixed Assets at cost of acquisition inclusive of inward
freight duties, taxes and incidental expenses related to acquisition.
2. VALUATION OF INVENTORY:
Cost or Market value whichever is lower and certified by the
management.
3. DEPRECIATION:
The Depreciation is calculated on Written down method under Schedule
xiv of the Companies Act, 1956.
4. RECOGNITION OF INCOME & EXPENDITURE:
Revenues/Incomes and Costs/Expenditures are generally accounted on the
basis of as they are earned or incurred.
5. REVENUE RECOGNITION:
All the Expenses and income is recognized on accrual basis and
provision is made for all known losses and liabilities. Revenue is
recognized as per billings made to customers.
6. Previous Figures are regrouped/ rearranged wherever necessary when
compared to the current year figures.
7. Particulars of Employees in accordance with Section 217(2A) of the
Companies Act, 1956 read with Companies (Particulars of Employees) -
NIL
8. Retirement benefits have not been provided in the books of
accounts.
9. The Company has reviewed certain old debit balances carrying
forward for long and based on the review, the Company has written off
the following, as there is no chance of recovery. Hence written off
Mar 31, 2012
1. During the year No operations/ Production in the company.
2. Previous Figures are regrouped/ rearranged wherever necessary when
compared to the current year figures.
3. Particulars of Employees in accordance with Section 217(2A) of the
Companies Act, 1956 read with Companies (Particulars of Employees) -
NIL
4. Retirement benefits have not been provided in the books of
accounts.
5. The Company has reviewed certain old debit balances carrying
forward for long and based on the review, the Company has written off
the following, as there is no chance of recovery. Hence written off
Mar 31, 2010
1. RECOGNITION OF INCOME & EXPENDITURE:
Revenues/Incomes and Costs/Expenditures are generally accounted on the
basis of as they arc earned or incurred.
2. REVENUE RECOGNITION:
The Company follows Mercantile system of accounting and in consonance.
3. During the year No operations/ Production in the company.
4. Previous Figures are regrouped/ rearranged wherever necessary when
compared to the current year figures.
5. Particulars of Employees in accordance with Section 217(2A)ofthe
Companies Act, 1956 read with Companies (Particulars Of Employees) Ã
NIL