| Dear members,
The directors have the pleasure in presenting the 32nd Annual Report
and the Audited Statements of accounts of the Company for the year
ended on 31st March, 2014.
BUSINESS
Your Directors report that during the period, the company has
satisfactory performance in business activity. FINANCIAL RESULT
The Company made a good performance during the year which is reflected
in the summary of result as under:
Particulars For the Year ended For the Year
31-03-2014 ended
31-03-2013
Turnover 1015432 904586
Profit/Loss before depreciation 83884 18477
Less: Depreciation 0 0
Net Profit before tax 83884 18477
AOD/LESS: Adjustment for the Prev. year 0 0
Less: Provision for Income Tax 26000 6000
Net Profit 57884 12477
Add/Less: Profit/(Deficit) brought
down from previous year 1767102 1754625
Profit available for appropriation 1824986 1767102
Appropriation 0 0
Carried to Balances Sheet 18249l6 1767102
OPERATIONS
The Company has shown a profit before tax of Rs. 83884/- during the
year as against profit of Rs. 18,477/- in previous year.
AUDITORS
M/s Sanjay B. Sharma & Co., Chartered Accountants, the auditors ofthe
company are retiring at the conclusion of the ensuing Annual General
Meeting of the company and being eligible offer themselves for
reappointment as Auditors. The Company has received certificate to the
effect that their appointment, if made, would be within the limit
prescribed under Section 224 (IB) of the Companies Act, 1956. Your
directors recommend re-appointment of M/s Sanjay B. Sharma & Co.,
Chartered Accountants, Mumbai, as Statutory Auditors of the Company.
DIVIDEND
In order to conserve the reserves to meet the needs of increased
operations of the Company, the Board of Directors has decided not to
declare dividend for the year.
DIRECTORS
Shri Sanjay Kacha retires by rotation at the ensuing Annual General
Meeting and being eligible offer himself for reappointment
PARTICULARS OF EMPLOYEES
There are no employees whose details are required to be given in
accordance with the provisions of Section 217(2A) of the Companies
Act, 1956 read with the Companies (Particulars of Employees) Rules,
1975.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION
Considering the nature of business of our Company, there are no
particulars which are furnished in this report relating to
conservation of energy and technology absorption.
FOREIGN EXCHANGE EARNINGS AND OUTGO
The Foreign Exchange earnings and outgo of the Company for year under
review amounted to Rs. Nil.
PUBLIC DEPOSITS
The company has not accepted any Public Deposit as per the provisions
of Section 58A of the Companies Act, 1956.
DIRECTORS' RESPONSIBILITY STATEMENT
In accordance with the provisions of Section 217(2AA) of the Companies
Act, 1956, your directors confirm:
1. that in the preparation of the annual accounts, the applicable
accounting standards have been followed by the Company along with
proper explanation relating to material departures, if any.
2. that the Director 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 ofthe company at the end of the financial year and ofthe
profit or loss ofthe company for that period.
3 that 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.
4. that the Directors have prepared the annual accounts on a going
concern basis.
ACKNOWLEDGEMENT
The Board wishes to express their sincere gratitude for the continued
co-operation, encouragement and support extended by the shareholders,
financial institutions and bankers of the company. The Board also
wishes to express their deep appreciation of the dedicated services of
the employees of the company.
Place: Mumbai For & on behalf of the board
Date: 12/05/2014 Ankur Bhinda Sanjay Kacha
Director Director
DIN: 02574744 DIN: 03168068 | 