Andhra Pradesh Tanneries Ltd. के अकाउंट के लिये नोट

Mar 31, 2024

(ix) Provisions & Contingent Liabilities:

The Company recognizes a provision when there is a present obligation (legal or constructive) as a result of a
past event and it is probable that an outflow of resources embodying economic benefits will be required to settle
the obligation and a reliable estimate can be made of the amount of the obligation.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, 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 or a present obligation that arises from past events where it is either not
probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount
cannot be made.

(x) Earnings per share

Basic earnings per share is calculated by dividing the net profit / (loss) for the year attributable to the equity
shareholders by weighted average number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share, the net profit / (loss) 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.

(xi) Dividend

Dividend to the equity shareholders is recognized as a liability in the Company’s financial statements in the
period in which the dividend is approved by the shareholders.

2. USE OF ESTIMATES AND JUDGEMENTS

The preparation of financial statements in conformity with Ind AS requires management to make judgments,
estimates and assumptions that affect the reported amounts of assets, liabilities, income, expenses and disclosures
of contingent liabilities at the reporting date. However, uncertainty about these assumptions and estimates could
result in outcomes that require a material adjustment to the carrying amount of the asset or liability affected in
future periods.

Estimates and underlying assumptions are reviewed at each reporting date. Any revision to accounting estimates
and assumptions are recognised prospectively i.e. recognised in the period in which the estimate is revised and
future periods affected.

Recognition and measurement of defined benefit obligations

The Co. has not recognized the accruing liabilities with respect to Retirement benefits as mentioned in revised
AS15(Employee Benefits) issued by ICAI. There being only one employee employed by the company, hence the
effect of the same on financial statement will not be material, however, the same cannot be ascertained due to
non-availability of actuarial valuation report.

i. Fair value measurement of financial instruments

When the fair values of the financial assets and liabilities recorded in the balance sheet cannot be measured
based on the quoted market prices in active markets, their fair value is measured using valuation techniques.
The inputs to these models are taken from the observable market, where possible, but where this is not
feasible, a review of judgement is required in establishing fair values. Changes in assumptions relating to
these assumptions could affect the fair value of financial instruments.

ii Deferred Tax

Deferred tax is recorded on temporary differences between tax bases of assets and liabilities and their
carrying amounts, at the rates that have been enacted or substantively enacted at the reporting date. The
ultimate realization of deferred tax assets is dependent upon the generation of future taxable profit during
the periods in which those temporary differences and the tax loss carry forwards become deductible.

As per our report of even date attached. For and on behalf of Board

For Bhogilal C. Shah & Co.

Chartered Accountants
Firm Regn. No. : 101424W

Narasimha Reddi Akkineni

Director

DIN : 09435476

Suril Shah
Partner

Membership No. 42710 Vibheeshana Rao Busurothu

Place : Mumbai Director

Date : 29th May, 2024 DIN : 09435439

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Mar 31, 2010

1. The accounts of the Company are prepared on going concern' basis even though loss up to the year is more than the paid up capital and free reserves and the operations of the company are temporarily suspended

2. The Current assets, Loans and Advances stand at the values stated in Balance sheet are realizable in the ordinary course of business and also provision for known liabilities made are adequate.

3. Depreciation for the current period has been provided on straight line method at the applicable rates specified in schedule XIV of the Companies Act, 1956. For the Assets acquired / installed in the earlier years, the depreciation has been charged on straight line method at the rates applicable at the time of installation of the said assets.

4. Balances under sundry debtors, sundry creditors, unsecured loans, other payables, loans & advances and other receivables represent aggregate receivable and subject to confirmation by respective parties. Similarly few non-operative Bank accounts are subject to confirmation and reconciliation.

5. The Stores, Chemicals, Work in process, Stock in trade etc. is as per inventory records and valued at cost or realizable value whichever is less and' is certified by the Director. There are some spoiled stocks, which were written off as certified by the Director.

6. Contingent Liabilities: Nil.

7. No provision for Income Tax has been made since the Company has no assessable Income.

8. Bonus / Ex-gratia has not been provided during the year (Previous year Rs.3,59,455/-).

9. A Sum of Rs.7,76,138/- towards principal and Rs.24,63,188/- towards interest up to 31.03.2010 is overdue to A.P.Go*. for Interest Free Sales Tax Loan.

10. The Commercial Tax Department raised demands on the company awards CST Rs.11,88,000/- for the year 1996-97. The company did not acknowledge the demand as liability since the Company has preferred appeal against the above demand and the final decision in appeal is awaited.. However the company has paid Rs.6,00,000/- pen dirt spousal of Appeal for in the financial year 2003-04.

11. As Part of a comprehensive review in respect of the outstanding Sundry Debtors, Loan & Advances and other receivable are on going Further Provision, if any, required towards outstanding amount will be made as ' and when in the opinion of the management the same is warranted Necessary efforts are being made for the recovery of the same.

12. All the statutory payments like EPF, ESI etc are deposited with the appropriate authority generally in time.

13. Since the company has substantially carry forward loss and unabsorbed deprecation and there is uncertainty of sufficient future taxable income that may be avoidable for its realization, the deferred tax asset, in accordance accounting standard 22 issued by the Institute of Chartered Accountants of India has not been considered as matter of prudence.

14. The. company accounts for payment of Gratuity on "payment basis" The actuarial liability in respect of the same is not available with company it has provided for Rs.Nil (Previous year Rs. Nil).

15. The company has not provided Dividend on preference shares capital in the absence of Dividend on Equity share Capital.

16. Selling and distribution expenses include forwarding expenses Re Nil (Previous year Rs.2,940/-).

17. Approval from* SEBI in respect of Listing of Shares is yet to be received. A Certificate from the Chartered Accountant to effect the applicable provision of the Regulation of. SEBI under regulation 3(4) read with 3(5) is also pending.

18. During the year the Company has provided leave encashment of Rs. 67,873/- (previous year Rs.78,621/-) on actual bastes i.e. on payment basis. The actuarial liability of the same is not available with the company.

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Mar 31, 2009

1 The accounts the company are prepared on 'going concern' bastes even though loss up to the year is more than the paid up capital and free reserves and the operations of the company is temporarily suspended.

2. The Current assets, Loans and Advances stand at the values stated in Balance sheet are realizable in the ordinary course of Business and also provision for known liabilities made are adequate.

3 Depreciation for the current period has been provided on straight line method at the applicable rates specified in schedule XIV of the Companies Act, 1956. For the Assets acquired / installed in the earlier years, the depreciation has been charged on straight line method at the rates applicable at the time of installation of the said assets.

4. Balances under sundry debtors, sundry creditors, unsecured loans, other payable. Loans & Advances and other receivables represent aggregate receivable and subject to confirmation by respective parties. Similarly few non-operative bank accounts are subject to confirmation and reconciliation.

5. The Stores, Chemicals, Work in process, Stock in trade etc. is as per inventory records and valued at cost and is certified by the Director. There are some spoiled stocks, which were written off as certified by the Director.

6 Contingent Liabilities: Nil.

7. No provision for Income Tax has been made since the Company has no assessable Income.

8. Bonus / Ex-gratia has been provided at the rate of 8.33% of salaries, which comes up to Rs.3,59,455/- (Previous year Ks. 3,50,753/-)

9. A Sum of Rs.7,76,138/- towards principal and Rs.22,96,318/- towards interest up to 31.03.2009 is overdue to A.P.Govt. for Interest Free Sales Tax Loan.

10. The Commercial Tax Department raised demands on the company towards CST Rs.11,88,000/- for the year 1996-97. The company did not acknowledge the demand as liability since the Company has preferred appeal against the above demand and the final decision in appeal is awaited. However the company has paid Rs.8,00,000/- pending disposal of Appeal for in the financial year 2G03-04.

11. The By-products i.e., Hides Split, N.C. Split Finish are valued at manufacturing cost.

12. As part of a comprehensive review in respect of the outstanding Sundry Debtors, Loan & Advances and other receivable are on going, further provision, if any, required towards outstanding amount will be made as and when in the opinion of the management the same is warranted, Necessary efforts are being made for the recovery of the same.

13. All the statutory payments like EPF, ESI etc are deposited with the appropriate authority generally in time.

14. Since the company has substantially carry forward loss and unabsorbed depreciation and there is uncertainty of sufficient future taxable income that may be avoidable for its realization, the deferred tax asset, in accordance with accounting standard 22 issued by the institute of Chartered Accountants of India has not been considered as matter of prudence.

15. The company accounts for payment of Gratuity on "payment basis" The actuarial liability in respect of the same ;s not available with company. It has provided for Rs.Nil (Previous year Rs.3,04,825/-).

16. The company has not provided Dividend on preference shares capital in the absence of Dividend on Equity share Capital.

17. Selling and distribution expenses include forwarding expenses Rs. 2,9407- (Previous year Rs.5,811/-).

18. Approval from SEBI in respect of Listing of Shares is yet to be received. A Certificate from the Chartered Accountant to effect the applicable provision of the Regulation of SEBI under regulation 3(4) read with 3(5) is also pending.

19. During the year the company has provided leave encashment of Rs. 78,621/- (previous year Rs.75,980/-) on actual basis i.e. on payment basis. The actuarial liability of the same is not available with the company.

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Mar 31, 2008

1. Fixed Assets: are stated at cost of acquisition inclusive of duties taxes and erection expenses.

2. For the assets acquired and installed during the current year under report prorata / depreciation at the rates specified in the Schedule XIV the Companies Act, 1956 has been charged on straight line method on each asset according to the period of their use. For the assets acquired / installed in the earlier years, the depreciation has been charged on straight the method at me rates applicable at the time of acquisition installation of the said assets'

3. Miscellaneous sales

Sales proceeds of condemned and unserviceable spares stores, empties waste oil are accounted for 'cash basis'.

4. Incentives Subedies

Central State incentives, Subsidies are accounted :"or on accrual Basis"..

5. Foreign Currency Transaction

To account for export sales in foreign currency at the exchange "at the prevailing at the time of negotiation or export documents or at the rate prevailing on one nay amount receive against documents sent 'do collection

6. Valuation of Stocks: Stocks have been valued at cost price.

7. Any Accounting policy : other then what is referred above are in consistency with me accepted accounting principles.

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Mar 31, 2007

1. The accounts the company is prepared on 'going concern' basis even though loss up to the year is more than the paid up capital and free reserves and the operations of the company is temporarily suspended.

2. The Current assets, Loans and Advances stand at the values stated in Balance sheet are realizable in the ordinary course of Business and also provision for known liabilities made are adequate.

3. Depreciation for the current period has been provided on straight line method at the applicable rates specified in schedule XIV of the Companies Act, 1956. For the Assets acquired / installed in the earlier years, the depreciation has been charged on straight line method at the rates applicable at the time of installation of the said assets.

4. Balances under sundry debtors, sundry creditors, unsecured loans, other payable, Loans & Advances and other receivables represent aggregate receivable and subject to confirmation by respective parties. Similarly few non-operative bank accounts are subject to confirmation and reconciliation.

5. A store, Chemicals, Work in process, Stock in trade etc. is as per inventory records and valued at cost and is certified by the Director. There are some spoiled stocks, which were written off as certified by the Director.

6. Contingent Liabilities: Nil.

7. No provision for Income Tax has been made since the Company has no assessable Income.

8. Bonus / Excreta has been provided at the rate of 8.33% of series, which comes up to Rs.3,00,035/- (Previous year Rs.3,06,462/-)

9. A Sum of Rs.7,76,138/- towards principal and Rs.19,62,121/- towards interest up to 31.03.2007 is overdue to A.P. Govt. for Interest free Sales tax Loan.

10. The Commercial Tax Department raised demands on the company towards CST Rs.11,88,000/- for the year 1996-97. The company did not acknowledge the demand as liability since the Company has predated appeal against the above demand and the final decision in appall is awaited. However the company has paid Rs.8,00,000/- pending disposal of Appeal for in the financial year 2003-04.

11. The By- products i.e., Hides Split, N.C. Split Finish are value* at manufacturing cost.

12. As part of a comprehensive review in respect of the outstanding Sundry Debtors, Loan & Advances and other receivable are on going, further provision if any required towards outstanding amount will be made as and when in the opinion of the management the same is warranted, Necessary efforts are being made for the recovery of the same.

13. All the statutory payments like EPF, ESI etc are deposited with the appropriate authority generally in time.

14. Since the company has substantially carry forward loss and unabsorbed depreciation and there is uncertainty of sufficient future taxable income that may be avoidable for its realization, the deferred tax asset, in accordance with accounting standard 22 issued by the Institute of Chartered Accountants of India has not been considered as matter of prudence.

15. The Company accounts for payment on Gratuity on "payment basis" the actuality ability in respect of the same not available with company.

16. The company has not provided Dividend on preference shares capital in the abs :e of Dividend on Equity shares Capital.

17. Selling did distribution expenses inching 3 claims by the company relating to earlier ears towards supply of chemicals.

18. During year the company has rep d in full the advance taken from M/s. Am aid Enterprises Ltd. Chennai.

19. Approval from SEBI in respect of Listing of Shares is yet to be received. A Certificate from the Chartered Accountant to effect the applicable provisory of the Regulation of SEBI under regulation 3(4) read with 3(5) is also pending.

20. During 3 year the company has provided leave encashment of Rs.61,6 ./- (previous year Rs.56,440/-) on actual basis i.e. on payment basis. The actuarial liability of the same is not available with the company.

21. During year the company has scrapped vehicles, which were not ir. useful diction and sold for Rs.50,00 -. The Gross value of the vehicle is Rs.1.23,636/- and the accumulate Depreciation is Rs.1,81,217/- Balance if Rs.2,419/- is written off depreciation for the year and sale process s shown as Miscellaneous Sales for the year.