| Dear Members,
The Directors have pleasure in submitting their 31th Annual Report
with the audited accounts for the year ended March 31,2014.
(Amount in Rupees.)
Financial data results 2013-14 2012-13
Total Income 199611 36911
Total Expense 199995 125715
Depreciation & Amortization Expenses N.A. N.A.
Profit /(Loss) before tax (PBT) (385) (88804)
Net Profit / (Loss) after Tax (PAT) (385) (88804)
Performance Review 2013-14:
During the year under review, the Company has incurred a net loss of
Rs. 385/- as against net loss of Rs. 88804/- for the previous year.
Dividend:
In view of the losses incurred, your Directors regret their inability
to declare any dividend.
Auditors And Auditors Observations:
M/s. Shankarlal Jain and Associates, Chartered Accountants, the
Statutory Auditors of the Company retire at the ensuing Annual General
Meeting and in their place M/s. R. Sundaresan Aiyar & Co, Chartered
Accountants, be appointed as a Statutory Auditors of the company, the
remuneration to be determined by the Board of Director of the Company.
With regard to the Auditors observations, the same have been duly
explained in the notes, hence does not require any further
clarification.
Secretarial Compliance Certificate:
The Secretarial Compliance Certificate issued by a practicing Company
Secretary pursuant to Section 383A of the Companies Act 1956 read with
Rule 3 of Companies (Compliance Certificate) Rule, 2001 is annexed to
this Report.
Directors Responsibility Statement:
Pursuant to Section 217(2AA) of the Companies Act, 1956, the Directors
to the best of their knowledge and belief confirm that:
I) The applicable standards have been followed in the preparation of
the annual accounts and there are no material departure;
ii) The Directors have selected such accounting policies and applied
them consistently and made judgments and estimates that are reasonable
and prudent so as to give a true and fair view of the state of affairs
of the company as at March 31, 2014 and the loss of the company for the
year ended on that date.
iii) The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of
the company and for preventing and detecting fraud and other
irregularities; and
iv) The Directors have prepared the Annual Accounts ofthe Company on a
going concern basis.
Particulars as per section 217(2A) of The Companies Act, 1956:
Information as per Section 217(2A) of the Companies Act, 1956 read with
the Companies (Particulars of Employees) Rules, 1975: None of the
employees of your Company was in receipt of remuneration in excess of
the limits prescribed in the Companies (particulars of employees)
Rules, 1975 during the year and accordingly above Rules is not
applicable.
Conservation of Energy, Research & Development, Technology absorption,
Foreign exchange Earnings and Outgo:
This information is required as per section 217(1) (e) ofthe companies
Act, 1956 read with Companies (Disclosure of Particulars in the Report
of the Board of Directors) Rules, 1988 and forming part ofthe
Directors' Report for the year ended March 31,2014
Since the company operations involve low consumption of energy the
company has no comments to offer as far as (a) conservation of energy
and (b) Technology absorptions are concerned.
Foreign Exchange:
The foreign exchange earnings and foreign exchange expenditure during
the period under consideration was Nil.
Acknowledgements:
The Directors place on record its deep appreciation for the dedicated
services of the executives and staff at all levels of the Company.
Grateful thanks are also due to Company's Bankers, Statutory
Authorities, its patrons and all organizations connected with the
Company. Shareholders appreciation ofthe managements efforts at the
General Meetings ofthe Company and otherwise, is a great fillip to
strive for better performance year after year.
Place: Mumbai For and on behalf of the Board
Dated: 15th May, 2014 For W W TECHNOLOGY HOLDINGS LIMITED
Paresh Mulji Kariya
Chairman
DIN:00215937 | 