The Company was incorporated in 1905. The Company is in business of retailing of variety of household, gifts, artefacts & other consumable products through its stores.

2. In the absence of any intimation from vendors regarding the status of their registration under the "Micro, small and Medium Enterprises Development Act, 2006", the Company is unable to comply with the disclosures required to be made under the said Act.

3. Balance of Sundry Creditors are subject to confirmations. Adjustments, if any, will be made on receipts of the confirmations.

4. Pursuant to the enactment of companies Act 2013, the company has applied the estimated useful lives as specified in Schedule II,except in respect of certain assets as disclosed in Accounting Policy on Depreciation. The Realighnment of the useful lives have resulted in adjustment of Rs.40.33 lacs against the opening balance of retained earnings.

5. Advance towards premises includes payment made to Grishma Constructions & Trading Co. Pvt. Ltd.

6. Balance of Trade Receivables are subject to confirmations. Adjustments, if any, will be made on receipts of the confirmations.

7. Trade Receivable includes Rs. 5,376,992/- (Previous year Rs. 5,487,988/-) due from the customers for which no provision is considered necessary as the Company is of the view that the same are recoverable.

8. Above advance includes due from subsidiary company Bombay Store Retail Co. Ltd for purchase of merchandise Rs. 24,257,372/- (Previous year Rs. 7,767,312/-)

9. Balance of Loans & Advances are subject to confirmations. Adjustments, if any, will be made on receipt of the confirmations.

10. Contingent Liabilities:

i. Service Tax liability of Rs. 145,899/- (Previous year Rs. 145,899/-).

11. The Company has adopted useful lives of the fixed assets as those specified in Schedule II to the Companies Act, 2013 (the Act) effective 1.4.2014. Accordingly the carrying amount of assets for which the useful lives as per the revised estimate are exhausted as of 1.4.2014 have been recognized in the retained earnings /opening balance of profit and loss account as on that date after retaining the residual value of the assets. The carrying amount as on 1.4.2014 is depreciated over the revised remaining useful life. As the result of these changes the depreciation charge for the year is higher by Rs. 427,946/-

12. The Company considers its entire operations under single segment 'Retailing'. The Company's operations are only in India.

13. Earning per share has been computed with reference to profit after tax of Rs. 910,476/- (Previous year Rs.1,599,433 /-) and weighted average number of equity shares 4,940,000 shares (Previous year 4,940,000) There is no diluted earning per share as there are no dilutive potential equity shares.

14. The Company has, on prudence not recognised Deferred Tax Assets Rs. 7,438,700/- (Previous year Rs. 4,183,007/-) mainly representing expenses allowable for tax purposes when paid and difference between tax and book written down value of fixed assets, due to uncertainty of future profits in terms of Accounting Standard 22 (AS-22) for Taxes on Income issued by The Institute of Chartered Accountants of India.

15. Related Party Disclosures

A. Relationship

I) Subsidiary Company

Bombay Store Retail Company Limited

II) Key Management Personnel & Relatives:

Mr. Milan Dalai - Chairman Mr. Asim Dalai - Manging Director

Mr. Satyen Dalai - Relative Mr. Bhupen C. Dalai - Relative

Mrs. Rekha Dalai - Relative Mrs. Aditi Dalai - Relative

Mrs. Veena Dalai - Relative

III) Other Parties / Enterprises where control / significant influence exists.

Gateway International Pvt. Ltd.        Grishma Constructions & Trading
                                       Co. Pvt. Ltd.
First Overseas Capital Limited         Asda Trading Company Pvt. Ltd.

Western Press Pvt. Ltd.                Milan Investments PvL Ltd.

Amalgamated Business Solutions Ltd Stanford Securities Pvt. Ltd

Related party relationship is as identified by the Company and relied on by the Auditors.

16. Earning in Foreign Exchange:

i. FOB value of exports of goods NIL /- (Previous year NIL/-).

ii. Receipts on account of sale of merchandise Rs. 27,114,436/- (Previous year Rs. 23,851,961-).

17. CIF Value of Imports : Goods Rs. NIL/- (Previous year Rs. NIL/-).

18. Expenditure in Foreign Currency:

Other Expenses Rs. 381,591/ - (Previous year Rs. 461,143/-).

19. Previous year's figures have been regrouped / re-arranged / reclassified wherever necessary.