| 1. The financial statement has been prepared on the historical cost
convention and with generally accepted accounting principles.
2. Items for Profit & Loss a/c have been accounted for on accrual
basis.
3. Investments have been made in unquoted shares and have been stated
at cost.
4. Previous year's figures have been regrouped/ re-arranged wherever
necessary.
5. The Company is listed on Calcutta Stock Exchange.
6. There is no employee eligible for the benefit of gratuity; hence no
such provision is made.
7. In the opinion of the Board and to the best of their knowledge and
belief, the value of realization of current assets in the ordinary
course of business will not be less than the amount at which they are
stated in the Balance Sheet .
8. The Company has no amount to be paid to Micro, Small and Medium
Enterprises in accordance with provisions of Micro, Small & Medium
Enterprises Development Act, 2006.
9. In terms of Accounting Standard 20, the calculation of EPS is given
below:-
* Profit/(Loss) after Taxation:- Rs 39,024
* Weighted Average number of Equity Shares outstanding during the year:
- 248,200 shares.
* Normal value of shares:- Rs 10/ share
* Basic and Diluted EPS:- (Rs. 0.16)
10. Accordance with the Accounting Standard AS-22 "Accounting for
Taxes on Income" issued by the Institute of Chartered Accountants of
India, Deferred Tax Asset is not created as a matter of prudence as
there is no reasonably certainty of future profit.
11. As per information and explanation provided by the Management
there are no outstanding dues of SSI undertakings as required by
Schedule VI of the Companies Act, 1956.
Basis of Preparation
12. The financial statements are prepared under the historical cost
convention except for current assets.
13. Accrual basis of accounting has been adopted in preparation of the
financial statements.
14. The financial statements are prepared under the Going concern
convention of accounting.
15. The generally accepted accounting principles, Accounting Standards
issued by the Institute of Chartered Accountants of* India, as
applicable, and the relevant provisions of the Companies Act, 1956 have
been complied.
16. in preparing the financial statements in conformity with accounting
principles generally accepted in India, management is required to make
estimates and assumptions that affect the reported amounts of assets
and liabilities and the disclosure of contingent liabilities as at the
date of financial statements and the amounts of revenue and expenses
during the reported period. Actual results could differ from those
estimates. Any revision to such estimates is recognized in the period
the same is determined.
17. As per information and explanation provided by the Management there
are no outstanding dues of SSI undertakings as required by Schedule VI
of the Companies Act, 1956 as amended by Notification No. GSR 129(E]
dated 22.02.1999 issued by the Department of Company Affairs, Ministry
of Law, Justice & Company Affairs.
18. The Company has no amount to be paid to Micro, Small and Medium
Enterprises in accordance with provisions of Micro, Small & Medium
Enterprises Development Act, 2006. Hence, disclosures, if any, relating
to amounts unpaid as the year end together with interest paid / payable
as required under the said Act have not been made.
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