Advance Multitech Ltd. के अकाउंट के लिये नोट

Mar 31, 2024

2.6. Provisions, contingent liabilities and contingent assets
Contingent liability:

A possible obligation that arises from past events and the existence of
which will be confirmed only by the occurrence or non-occurrence of
one or more uncertain future events not wholly within the control of
the Company are disclosed as contingent liability and not provided
for. Such liability is not disclosed if the possibility of outflow of
resources is remote.

Contingent assets :

A contingent asset is a possible asset that arises from past events and
whose existence will be confirmed only by the occurrence or non¬
occurrence of one or more uncertain future events not wholly within
the control of the Company. Contingent assets are not recognised and
disclosed only when an inflow of economic benefits is probable.

Provisions :

A provision is recognized when as a result of a past event, the
Company has a present obligation whether legal or constructive that
can be estimated reliably and it is probable that an outflow of
economic benefits will be required to settle the obligation. If the
obligation is expected to be settled more than 12 months after the end
of reporting date or has no definite settlement date, the provision is
recorded as non-current liabilities after giving effect for time value of
money, if material. Where discounting is used, the increase in the
provision due to the passage of time is recognized as a finance cost.

2.7. Revenue Recognisation

a) Revenue from the sale of goods is recognised when significant risks
and rewards in respect of ownership of the goods are transferred to
the customer, as per the terms of the order. The company has shown
separately in the expenses as the revenues from the operations are
stated at gross amount as per the Requirement of Ind AS 18
“Revenue”. Further, the amounts collected on behalf of third parties
such as government authorities for VAT, Service Tax and GST are
excluded from the revenue since the same do not result in increase in
Equity.

b) Interest Income is recognised on time proportion basis.

2.8. Income taxes

Income tax expense comprises current and deferred tax expense.
Income tax expenses are recognized in statement of profit and loss,
except when they relate to items recognized in other comprehensive
income or directly in equity, in which case, income tax expenses are
also recognized in other comprehensive income or directly in equity
respectively.

Current tax is the tax payable on the taxable profit for the year, using
tax rates enacted or substantively enacted by the end of reporting
period by the governing taxation laws, and any adjustment to tax
payable in respect of previous periods. Current income tax assets and
liabilities are measured at the amount expected to be recovered from
or paid to the taxation authorities. Management periodically evaluates
positions taken in the tax returns with respect to situations in which
applicable tax regulations are subject to interpretation and establishes
provisions where appropriate.

Deferred taxes arising from deductible and taxable temporary
differences between the tax base of assets and liabilities and their
carrying amount in the financial statements are recognized using
substantively enacted tax rates and laws expected to apply to taxable
income in the years in which the temporary differences are expected

to be received or settled.

Deferred tax asset are recognized only to the extent that it is probable
that future taxable profit will be available against which the deductible
temporary differences can be utilized. The carrying amount of
deferred tax assets is reviewed at each reporting date and reduced to
the extent that it is no longer probable that sufficient taxable profit
will be available to allow all or part of the deferred income tax assets
to be utilized.

2.9. Earnings Per Share

a) Basic earnings per share are calculated by dividing the net profit for
the period attributable to equity shareholders by the weighted average
number of equity shares outstanding during the period.

b) For the purpose of calculating diluted earnings per share, the net
profit for the period attributable to equity shareholders and the
weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares, if any.

2.10. Borrowing cost

Borrowing costs directly attributable to the acquisition, construction
or production of qualifying assets, which are assets that necessarily
take a substantial period of time to get ready for their intended use or
sale, are added to the cost of these assets, until such time as the
assets are substantially ready for their intended use or sale.

All other borrowing costs are recognised in statement of profit and
loss in the period in which they are incurred.

2.11. Segment Reporting

The company has only one preliminary reportable segment i.e.
Textile Products and hence there is no separate reportable segments
as required in Ind AS 108 issued by ICAI.

2.12. Depreciation

Depreciation on tangible fixed assets is provided using the WDV
Method based on the useful life of the assets as estimated by the
management and is charged to the Statement of Profit and Loss as
per the requirement of Schedule II of the Companies Act, 2013. In
case of additions or deletions during the year, depreciation is
computed from the month in which such assets are put to use and
up to previous month of sale or disposal, as the case may be.

2.13. Foreign currency Transactions

Foreign currency transactions are recorded at the exchange rate
prevailing at the date of transactions. Exchange difference arising
on settlement of transactions is recognised as income or expense in
the year in which they arise.

Monetary assets and liabilities related to foreign currency
transactions remaining unsettled at the end of the year are restated
at the year-end rate and difference in translations and unrealised
gains / (losses) on foreign currency transactions are recognised in
the statement of profit & loss.

The premium or discount arising at the inception of forward
exchange contracts is amortised as expense or income over the life
of the contract. Exchange differences on such contracts are
recognised in the statement of profit and loss in the year in which
the exchange rates change. Any profit or loss arising on
cancellation or renewal of forward exchange contract is recognised
as income or as expense for the year.

Note No:-

26. a) In opinion of the directors, contingent liability not provided is Rs.
Nil. (Nil)

b) Estimated amount of contracts remaining to be executed on capital
account and not provided for: Rs. Nil (Nil).

27. Balances of Trade Payables, Unsecured Loans, Trade Receivables, Long

Term and Short Term Loans & Advances, In-operative bank accounts,
Other Current and Other Non Current Assets and Provisions are
subject to the confirmation of the parties concerned. Wherever
confirmation of the parties for the amounts due to them / amounts
due from them as per books of accounts are not received, necessary
adjustments, if any, will be made when the accounts are reconciled /
settled.

28. As per Information given to us there were no amount overdue remaining
outstanding to small scale supplier on account of principal and/or
interest as at the close of the year. Further there are no dues
outstanding to Micro and small enterprise

29. Wherever no vouchers and documentary evidences were made available

for our verification, we have relied on the authentication given by
management of the company.

30. Figures have been rounded off to the nearest rupee wherever required.

31. The Reserve Bank of India has granted relief to borrowers by way of
moratorium of interest and principal instalments falling due to banks
and financial institution. This will largely mitigate the stress on cash
flows, if any, during the period of COVID-19. The company has availed
the relief of moratorium. Hence on long term basis also, the Company
does not anticipate any major challenge in meeting its financial
obligations. Basis above, the management has estimated its future cash
flows for the Company which indicates no major change in the financial
performance as estimated prior to COVID-19 impact and hence, the
Company believes that there is no impact on its ability to continue as a
going concern and meeting its liabilities as and when they fall due.

32. The GST liability could not be reconciled with GST portal and GST
liability is taken as per books of accounts. The interest on GST liability
and late return filing fees will be accounted as a when paid, however it
may not have any material amount.

36. Disclosures in respect of related parties as defined in Accounting Standard
18 with whom transactions have taken place during the year are given
below:

a. Associate Companies Advance Petro Chemicals Ltd

Kashi Welfab P. Ltd

b. Associate Concerns Advance Synthetics Mills

in which directors or their relatives are interested Advance Multitech

c. Directors and their relatives:

Arvind Goenka
Pulkit Goenka
Uma Goenka
Sheela Goenka
Mrs Aanchal Agrawal

There no provisions for doubtful debts or amounts written off or written
back during the year for debts due from or to related parties.

The particulars given above have been identified on the basis of
information available with the company.

As per our report of even date For and on behalf of the Board of Directors of

For, Suresh R Shah & Associates ADVANCE MULTITECH LIMITED
Chartered Accountants
Firm Reg. No: 110691W

Mrugen K Shah ARVIND GOENKA PULKIT GOENKA

Partner Managing Director Director and CFRO

M.No. 117412 DIN 0093200 DIN 00177230

Niralbhai Sodavadiya
Company Secretary

Place :- Ahmedabad Place :- Ahmedabad

Date :- 24-05-2024 Date : 24-05-2024

UDIN: 24117412BKAHPK6928

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Mar 31, 2015

Accounting Convention

The financial statement are prepared under the historical cost convention on the "Accrual Concept" of accountancy in accordance with the accounting principles generally accepted in India and comply with the accounting standards issued by the institute of Chartered Accountants of India to the extent applicable and with the relevant provisions of the Companies Act, 2013.

Use of Estimates

The preparation of financial statements requires management to make estimates and assumptions that affect the reported amount of assets and liabilities on the date of the financial statement and the reported amount of revenues and expenses during the reporting period. Difference between the actual results and estimates are recognized in the period in witch results are known/materialized.

Fixed Assets

Fixed assets are stated at cost less accumulated depreciation and impairment losses, if any. Cost comprises of all expenses incurred to bring the assets to its present location and condition. Borrowing cost directly attributable to the acquisition / construction are included in the cost of fixed assets. Adjustments arising from exchange rate variations attributable to the fixed assets are capitalized.

In case of new projects / expansion of existing projects, expenditure incurred during construction / preoperative period including interest and finance charge on specific / general purpose loans, prior to commencement of commercial production are capitalized. The same are allocated to the respective fixed assets on completion of construction / erection of the capital project / fixed assets.

Capital assets (including expenditure incurred during the construction period) under erection / installation are stated in the Balance Sheet as "Capital Work in Progress."

Impairment of Assets

At each balance sheet date, the Company reviews the carrying amount of its fixed assets to determine whether there is any indication that those assets suffered an impairment loss. If any such indication exists, the recoverable amount of the assets is estimated in order to determine the extent of impairment loss. Recoverable amount is the higher of an asset's net selling price and value in use. In assessing value in use, the estimated future cash flows expected from the continuing use of the assets and from its disposal are discounted to their present value using a pre-tax discount rate that reflects the current market assessments of time value of money and the risks specific to the assets.

Depreciation

All fixed assets, except capital work in progress and computer are depreciated on a written down value method and computer is depreciated on written down value method. Depreciation is provided based on useful life of the assets as prescribed in Schedule II to the Companies Act, 2013. Depreciation on additions to / deletions from fixed assets made during the period is provided on pro-rata basis from / up to the date of such addition / deletion as the case may be.

Investments

Long term investments are stated at cost. Current investments are stated at lower of cost and market price. Provision for diminution in the value of long term investments is made only if such a decline is other than temporary in the opinion of the management.

Inventories

Inventories are measured at lower of cost and net realizable value. Cost of raw materials, stores & spares parts are ascertained on FIFO basis. Cost of finished goods and process stock is ascertained on full absorption cost basis. Cost of inventories comprises of cost of purchase, cost of conversion and other costs incurred in bringing in them to their present location & condition.

Revenue Recognition

Sales are recognized when goods are supplied. Sales are net of trade discounts, rebates and vat. It does not include interdivisional sales.

Revenue in respect of other items is recognized when no significant uncertainty as to its determination or realization exists.

Borrowing Cost

Borrowing cost that are attributable to the acquisition, construction or production of qualifying assets are capitalized as part of the cost of such assets. A qualifying assets is one that necessarily takes a substantial period of time to get ready for its intended use. All other borrowing costs are charged to revenue.

Employee Benefits

Short - term employee benefits are recognized as an expense at the undiscounted amount in the profit & loss account of the year in which the related service is rendered.

Post employment and other long term employee benefits are recognized as an expense in the profit & loss account for the year in which the liabilities are crystallized

Taxes on Income

Income tax expenses for the year comprises of current tax and deferred tax. Current tax provision is determined on the basis of taxable income computed as per the provisions of the Income Tax Act. Deferred tax is recognized for all timing differences that are capable of reversal in one or more subsequent periods subject to conditions of prudence and by applying tax rates that have been substantively enacted by the balance sheet date.

Provision, Contingent Liabilities and Contingent Assets

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources.

Contingent liabilities are not recognized but are disclosed in the notes.

Contingent assets are neither recognized nor disclosed in the financial statements.

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Mar 31, 2014

A. Terms/rights attached to equity shares

The company has only one class of equity shares having par value of Rs. 10/- per share. Each holder of equity shares is entitled to one vote per share. The company declare and pays dividend in indian rupee.

1 Term Loan from Oriental Bank of Commerce carriers interest rate of 3.50 % above basic rate. The loan is Primarily secured by Hypothecation of plant and machinery and other fixed assets financed. The loan further collateral secured by the Residential premises at Uttamnagar ward, B/h Suvidha Shopping Centre, Mahalaxmi Char Rasta, Paldi, Ahmedabad Sub Plot no. 20 FP No. 963, TPS No. 3 which is owned by Ashokkumar Goenka, Arvindkumar Goenka and PulkitGoenka. The loan further secured by personal guarantee of ShriAshokV. Goenka, Shri Arvind V. goenka and Shri Pulkit A. Goenka.

2 Installments falling due in respect of all the above term loans upto 31.03.2015 have been grouped under "Current maturities of long term borrowing." (refer Note 7)

1 Cash Credit from Oriental Bank of Commerce carriers interest rate of 3.50% above basic rate. The loan is Primarily secured by Hypothecation of stock of raw materials, stock-in-process, finished goods, stores & spares and receivables. The loan further collateraly secured by the Residential premises at Uttamnagarward, B/h Suvidha Shopping Centre, Mahalaxmi Char Rasta, Paldi, Ahmedabad Sub Plot no. 20 FP No. 963, TPS No. 3 which is owned by Ashokkumar Goenka, Arvindkumar Goenka and Pulkit Goenka. The loan further secured by personal guarantee of Shri Ashok V. Goenka, ShriArvind V. goenka and Shri Pulkit A. Goenka.

2 The Overdraft Facility senction against FDR with Abhudaya Co-Operative Bank Ltd.

2 Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

3 Figures have been rounded off to nearest rupee.

4 Balance of Sundry Debtors, Creditors, Loans and advances, unsecured loans are subject to confirmation.

5 In the opinion of the directors, current assets, loans and advances, other than doubtful have the value at which they are stated in the Balance-Sheet if realized in the ordinary course of business. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

6 Provision for Income - Tax is made in accordance with taxable profits of the company for the year under consideration.

7 There are no separate reportable segments as per Accounting Standard 17 as the entire operations of the Company relate to one segment, viz, the Textile.

8 Contingent liabilities & Commitments NIL NIL

9 Break up of expenditure incurred on employess who were in receipt of remuneration aggregating Rs. 6000000/- or more for year or Rs. 500000/- or more, where employed for a part of the year. Nil (Previous Year Rs. Nil).

10 Micro & Small Enterprises Dues

As per information given to us there were no amount overdue and remaining outstanding to small scale and /or ancillary Industrial suppliers on account of principal and /or interest as at the close of the year. Based on the information available with company, there are no dues outstanding to Micro and Small Enterprises as defined under Micro, Small and Medium Enterprises Development Act, 2006 for more than 45 days as at March 31,2014.

11 Previous year''s figures have been regrouped/rearranged wherever necessary so as to make them comparable with the figures of the current year.

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Mar 31, 2013

1 Break up of expenditure incurred on employess who were in receipt of remuneration aggregating Rs. 2400000/- or more for year or Rs. 200000/- or more, where employed for a part of the year.

2 Micro & Small Enterprises Dues

As per information given to us there were no amount overdue and remaining outstanding to small scale and /or ancillary Industrial suppliers on account of principal and /or interest as at the close of the year. Based on the information available with company, there are no dues outstanding to Micro and Small Enterprises as defined under Micro, Small and Medium Enterprises Development Act, 2006 for more than 45 days as at March 31, 2013.

3 Previous year''s figures have been regrouped/rearranged wherever necessary so as to make them comparable with the figures of the current year.

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Mar 31, 2011

1. Micro & Small Enterprises Dues

The Company has not received information from vendors regarding their status under Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure relating to amounts unpaid as at the year end together with interest paid / payable under this Act has not been given.

2. Balances of Sundry Creditors, Debtors, Loans & Advance and Receivables are subject to confirmation.

3. Previous year's figures have been regrouped/rearranged wherever necessary so as to make them comparable with the figures of the current year.

4. Figures have been rounded off to nearest rupees.

5. In the opinion of the directors, current assets, loans and advances have the value at which they are stated in Balance Sheet if realized, in the ordinary course of the business. The provision for all liability is adequate and not in excess of the amount reasonably necessary.

6. Provision for income tax is based on the taxable profits of the company in accordance with the Income-tax Act, 1961.

7. There are no separate reportable segments as per Accounting Standard 17 as the entire operations of the Company relate to one segment, viz. the Rubber Blanket and Belts.

8. Disclosures in respect of related parties as defined in Accounting Standard 18, with whom transactions have taken place during the year are given below:- (a) Associate Bodies Corporate : Advance Petro Chemicals Ltd.

Honest Synthetic Pvt. Ltd.

(b) Associate Concerns : Industrial Pigment

in which directors or their Industrial Chemical Products relatives are interested. Advance Synthetics Mills

(c) Directors : Shri Ashok Goenka

Shri Arvind Goenka Dr. S.R. Dhruv Shri Pulkit Goenka Omprakash Jalan Shaileshsingh Rajput Nirish J. Parikh J.K. Trivedi

Following transactions were carried out with the related parties in the ordinary course of There are no provisions for doubtful debts or amounts written off or written back during the year for debts due from or to related parties.

The particulars given above have been identified on the basis of information available with the company.

9. Schedule A to P form integral part of Balance Sheet and Profit and Loss Account and are duly authenticated.

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Mar 31, 2010

1. Micro & Small Enterprises Dues

The Company has not received information from vendors regarding their status under Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure relating to amounts unpaid as at the year end together with interest paid / payable under this Act has not been given.

2. Balances of Sundry Creditors, Debtors. Loans & Advance and Receivables are subject to confirmation.

3. Previous years figures have been regrouped/rearranged wherever necessary so as to make them comparable with the figures of the current year.

4. Figures have been rounded off to nearest rupees.

5. In the opinion of the directors, current assets, loans and advances have the value at which they are stated in Balance Sheet if realized, in the ordinary course of the business. The provision for all liability is adequate and not in excess of the amount reasonably necessary.

6. Provision for income tax is based on the taxable profits of the company in accordance with the Income-tax Act, 1961.

7. There are no separate reportable segments as per Accounting Standard 17 as the entire operations of the Company relate to one segment, viz. the Rubber Blanket and Belts.

8. Disclosures in respect of related parties as defined in Accounting Standard 18, with whom transactions have taken place during the year are given below: -

(a) Associate Bodies Corporate : Advance Petrochemicals Ltd. Honest Synthetic Pvt. Ltd.

(b) Assocaite Concerns Industrial Pigment

in which directors or their Industrial Chemical Products

relatives are interested. Advance Synthetic Mills

(c) Directors Shri Ashok Goenka

Shri Arvind Goenka

Dr. S.R. Dhruv

Shri Pulkit Goenka

Omprakash Jalan Following transactions were carried out with the related parties in the ordinary course of business:

Name Amount Nature of Payment

Advance Petrochemical Ltd. 2,40,000 Rent

Advance Synthetic Mills 12,60,000 Purchase of Raw Material

Shri Arvind Goenka 5,50,000 Director Remuneration

Dr. S.R.Dhruv 1,56,000 Director Remuneration



There are no provisions for doubtful debts or amounts written off or written back during the year for debts due from or to related parties. The particulars given above have been identified on the basis of information available with the company.

9. Schedule A to form integral part of Balance Sheet and Profit and Loss Account and are duly authenticated.

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Mar 31, 2009

Particulars March 31, March 31, 2009 2008 Rs. Rs.

1. The estimated amount of contracts remaining to be executed on capital accounts and not provided for Nil Nil

2. Contingent Liabilities in respect of:

a. Excise matters disputed in appeal Nil Nil

1. Quantitative Information

a) Class of Goods Manufactured

i) Conveyor Belt, Rubber Blanket, Un valcanised Rubber Sheet

b) CIF Value of Imports during the year Rs. Nil (Previous Year Rs. 1390648.)

c) Expenditure in foreign currency, remittance in foreign currency 132293/- and earnings in foreign currency during the year Rs. 2616537/- (Previous Year Rs. Nil.)

2 Micro & Small Enterprises Dues

The Company has not received information from vendors regarding their status under Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure relating to amounts unpaid as at the year end together with interest paid / payable under this Act has not been given.

3. Balances of Sundry Creditors, Debtors, Loans & Advance and Receivables are subject to confirmation.

4. Previous years figures have been regrouped/rearranged wherever necessary so as to make them comparable with the figures of the current year.

5. Figures have been rounded off to nearest rupees.

6. In the opinion of the directors, current assets, loans and advances have the value at which they are stated in Balance Sheet if realized, in the ordinary course of the business. The provision for all liability is adequate and not in excess of the amount reasonably necessary.

7. Provision for income tax is based on the taxable profits of the company in accordance with the Income-tax Act, 1961.

8. The company has recognized deferred tax asset / liability on depreciation in accordance with provision of Accounting Standard - 22 "Accounting for taxation on income" and accordingly a sum of Rs. 215802/- for the year ended 31/03/ 2009 has been written back and reflected in profit and loss account.

9. There are no separate reportable segments as per Accounting Standard 17 as the entire operations of the Company relate to one segment, viz. the Rubber Blanket and Belts.

10. Disclosures in respect of related parties as defined in Accounting Standard 18, with whom transactions have taken place during the year are given below:-

(a) Associate Bodies Corporate :

Advance Petrochemicals Ltd. Honest Synthetic Pvt. Ltd.

(b) Assocaite Concerns

in which directors or their relatives are interested.

Industrial Pigment Industrial Chemical Products Advance Synthetic Mills

(c) Directors

Shri Ashok Goenka Shri Arvind Goenka Dr. S.R. Dhruv Pulkit Goenka Omprakash Jalan

There are no provisions for doubtful debts or amounts written off or written back during the year for debts due from or to related parties. The particulars given above have been identified on the basis of information available with the company.

11. Schedule A to P form integral part of Balance Sheet and Profit and Loss Account and are duly authenticated.