Mar 31, 2016
NOTES TO ACCOUNTS -
1. Figures have been rounded off to the nearest rupee, wherever required.
2. Accounting standards as prescribed have been followed & reported wherever applicable.
3. In the Opinion of the Board the current assets, loans and advances will fetch the amounts stated, if realized in the ordinary course of business and adequate provision for all known liabilities of the company has been made. Balances shown under Loans, Advances, Sundry Debtors & Creditors are subject to confirmation, reconciliation and subsequent adjustment if any.
4. a) According to management, Company has not given any guarantee on behalf of the Directors or other officers.
5. The Company has not received information from vendors/suppliers regarding their status under the " Micro , Small & Medium Enterprises Act, 2006" and hence disclosure relating to amount unpaid for the period end together with interest paid or payable under this Act has not been given.
6. According to management, no litigations are filed against or pending against the Company. Company does not have any present obligation arising out of any past event. Hence no provision arises or is made for contingent liabilities.
7. Previous Year''s figures have been regrouped / reclassified wherever considered necessary to make them compa rable with the current year figures.
9. Earnings Per Share (on Face Value of Rs.10/- each)
In determining the Earnings Per share, the company considers the net profit after tax which includes any post tax effect of any extraordinary / exceptional item. The number of shares used in computing basic earnings per share is the weighted average number of shares outstanding during the period.
The number of shares used in computing Diluted earnings per share comprises the weighted average number of shares considered for computing Basic Earnings per share and also the weighted number of equity shares that would have been issued on conversion of all potentially dilutive shares.
In the event of issue of bonus shares, or share split the number of equity shares outstanding is increased without an increase in the resources. The number of Equity shares outstanding before the event is adjusted for the proportionate change in the number of equity shares outstanding as if the event had occurred at the beginning of the earliest period reported.
Basic Earnings Per Share - 0.15
Profit/(Loss) after Tax / Weighted Avg. Shares Outstanding = 2299322/ 15500000 = Rs.0.15 Diluted Earnings Per Share - 0.15
Profit/(Loss) after Tax / Weighted Avg. Shares Outstanding = 2299322/ 15500000 = Rs.0.15 Diluted EPS is similar to Basic EPS as there are no potential equity shares as on date.
11. As none of the employees have completed the minimum length of service as provided in payment of gratuity Act, 1972, no provision for gratuity is made by the Management.
1.2 Terms/rights attached to equity shares:_
The company has only one class of equity share having par value of Rs.10 per share. Each holder of the equity share is entitled to one vote per share. In the liquidation of the company, the holders of the equity shares will be entitled to receive the remaining assets of the company, after distribution of all preferential amounts.
Mar 31, 2015
1. Relatives of Key Management Personnel -
Name of the Party
1) Mrs. Renuka S. Bafna
3. Parties where control exists
Name of the Party
Vmukti Solutions Pvt. Ltd.
2. Related Party Transactions
As per accounting standard 18 (AS-18) Related party disclosures,
notified in the companies (Accounting Standards) Rules 2006, the
disclosure of transactions with the related parties defined in AS-18
are given below;
1. Key Managerial Personnel (KMP's) -
a) Hardik Hemendra Sanghvi - Managing Director
b) Shripal Kantilal Bafna - C.F.O.*
c) Sanjay Vardhan - Whole Time Director
(W.T.D.) *
d) Binita Sharad Gosalia - C.S.
Mr. Shripal Bafna was Appointed as W.T.D. & Mr. Sanjay Vardhan resigned
as W.T.D. w.e.f.23/04/2015
Nature of Relation
Wife of C.F.O. Mr. Shripal Bafna
Nature of Control
Mr. Hardik Sanghvi is Common Director
3. Contingent Liabilities & Provisions
Provisions are recognized only when there is a present obligation as a
result of past events and when a reliable estimate of the amount of
obligation can be made. Contingent Liability is disclosed for, by way
of note for -
a) Possible obligation which will be confirmed only by future events
not wholly within the control of the Company or
b) Present obligations arising from the past events where it is not
probable that an outflow of resources will be required to settle the
obligation or a reliable estimate of the amount of the obligation
cannot be made.
c) Contingent Assets are not recognized in the financial statements
since this may result in the recognition of income that may never be
realized.
1. Figures have been rounded off to the nearest rupee, wherever
required.
2. Accounting standards as prescribed have been followed & reported
wherever applicable.
3. In the Opinion of the Board the current assets, loans and advances
will fetch the amounts stated, if realized in the ordinary course of
business and adequate provision for all known liabilities of the
company has been made. Balances shown under Loans, Advances, Sundry
Debtors & Creditors are subject to confirmation, reconciliation and
subsequent adjustment if any.
4. a) According to management, Company has not given any guarantee on
behalf of the Directors or other officers.
5. The Company has not received information from vendors/suppliers
regarding their status under the " Micro , Small & Medium Enterprises
Act, 2006" and hence disclosure relating to amount unpaid for the
period end together with interest paid or payable under this Act has
not been given.
6. According to management, no litigations are filed against or
pending against the Company. Company does not have any present
obligation arising out of any past event. Hence no provision arises or
is made for contingent liabilities.
7. Previous Year's figures have been regrouped / re-classified
wherever considered necessary to make them comparable with the current
year figures.
9. Earning Per Share (on Face Value of Rs.10/- each) In determining the
Earnings Per share, the company considers the net profit after tax
which includes any post tax effect of any extraordinary / exceptional
item. The number of shares used in computing basic earnings per share
is the weighted average number of shares outstanding during the period.
The number of shares used in computing Diluted earnings per share
comprises the weighted average number of shares considered for
computing Basic Earnings per share and also the weighted number of
equity shares that would have been issued on conversion of all
potentially dilutive shares. In the event of issue of bonus shares, or
share split the number of equity shares outstanding is increased
without an increase in the resources. The number of Equity shares
outstanding before the event is adjusted for the proportionate change
in the number of equity shares outstanding as if the event had occurred
at the beginning of the earliest period reported.
Basic Earning Per Share - 0.59
Profit/(Loss) after Tax / Weighted Avg. Shares
Outstanding = 9144727/ 15500000 = Rs.0.59
Diluted Earning Per Share - 0.59
Profit/(Loss) after Tax / Weighted Avg. Shares
Outstanding = 9144727/ 15500000 = Rs.0.59
Diluted EPS is similar to Basic EPS as there is no
potential equity share as on date.
10. As none of the employees have completed the minimum length of
service as provided in payment of gratuity Act, 1972, no provision for
gratuity is made by the Management.
11. Related Party Transactions - According to management & from the
records, following related parties transactions were noticed.
Mar 31, 2014
1. Figures have been rounded off to the nearest rupee, wherever
required.
2. Accounting standards as prescribed have been followed & reported
wherever applicable.
3. In the Opinion of the Board the current assets, loans and
advances will fetch the amounts stated, if realized in the ordinary
course of business.
4. a) According to management, Company has not given any guarantee on
behalf of the Directors or other officers.
b) Company has given Bank Guarantee amounting to Rs.937500/- to BSE SME
Segment towards Deposit.
5. The Company has not received information from vendors/suppliers
regarding their status under the " Micro , Small & Medium Enterprises
Act, 2006" and hence disclosure relating to amount unpaid for the
period end together with interest paid or payable under this Act has
not been given.
6. According to management, No litigations are filed against or
pending against the Company. Company does not have any present obliga-
tion arising out of any past event. Hence no provision arises or is
made for contingent liabilities.
7. Previous Year''s figures have been regrouped / reclassified wherever
considered necessary to make them comparable with the current year
figures.
8. Foreign Currency Transactions -
Particulars Amount
Purchase (Import) (US$ 199205)
1,22,06,597/-
Trade Advance US $ 1544247
95219830
9. Earning Per Share (on Face Value of Rs.10/- each)
In determining the Earnings Per share, the company considers the net
profit after tax which includes any post tax effect of any ex-
traordinary / exceptional item. The number of shares used in computing
basic earnings per share is the weighted average number of shares
outstanding during the period.
The number of shares used in computing Diluted earnings per share
comprises the weighted average number of shares considered for
computing Basic Earnings per share and also the weighted number of
equity shares that would have been issued on conversion of all
potentially dilutive shares.
In the event of issue of bonus shares, or share split the number of
equity shares outstanding is increased without an increase in the
resources.
The number of Equity shares outstanding before the event is adjusted
for the proportionate change in the number of equity shares outstanding
as if the event had occurred at the beginning of the earliest period
reported.
Basic Earning Per Share (0.37)
Profit/(Loss) after Tax / Weighted Avg. Shares Outstanding =
(5807859)/15500000 = (Rs.0.37)
Diluted Earning Per Share (0.37)
Profit/(Loss) after Tax / Weighted Avg. Shares Outstanding =
(5807859)/15500000 = (Rs.0.37)
Diluted EPS is similar to Basic EPS as there are no potential equity
share as on date.
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article