| Presentation and disclosure of financial statements
During the year ended 31stMarch 2015, the revised Schedule III notified
under the Companies Act 2013, has become applicable to the company, for
preparation and presentation of its financial statements. The adoption
of revised Schedule III does not impact on recognition and measurement
principles followed for preparation of financial statements. However,
it has significant impact on presentation and disclosures made in the
financial statements. The company has also reclassified the previous
year figures in accordance with the requirements applicable in the
current year.
1. (a) The number of employee employed throughout the year, who were
in receipt of or were entitled to receive remuneration aggregating to
Rs.60,00,000/- (Rupees Sixty Lacs only) or more per annum were Nil.
(b) The number of employees for part of the according relevant period
who were in receipt of or were entitled to receive remuneration
aggregating to Rs.5,00,000/- (Five Lacs only) or more per month were
Nil.
2. In the opinion of the Board, the Current Assets, Loans & Advances
are approximately of value stated in the ordinary course of business.
3. Deferred Tax Liability/Assets Provision for Deferred Tax Assets has
been made in the books of account in accordance with Accounting
Standard-22 (Accounting for Taxes on Income) referred to in sub section
(11) of section 143 of the Companies Act, 2013.The Deferred Tax for the
year ending 31.03.2015 amounting to Rs.30, 77,362 has been debited (P.Y
10, 49,030 has been debited) to Profit & Loss Account. The Deferred Tax
Asset does not arises due to timing difference on account of Losses
incurred during the year. Total Deferred Tax Assets as on 31.03.2015 of
Rs. Nil (P.Y 30, 77,362) which has been shown in the Balance Sheet.
4. Micro, Small and Medium Enterprises
The company has not received any information from its suppliers about
the applicability of Micro, Small & Medium enterprises Development Act,
2006 on them. Hence the particulars regarding Micro, Small & Medium
enterprises & other disclosures, if any , relating to amounts unpaid as
on 31.03.2015 together with interest paid/payable as required under
Micro, Small & Medium enterprises Development Act, 2006 is not given.
5. The Company has under the procedure of being Listed under Bombay
Stock Exchange during the Year.
6. Some of the Debtors, creditors, advances & loan are subject to
confirmation/reconciliation.
7. Figures for the previous year are re-grouped or re-arranged to make
it more comparable with the current year's figures.
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