Gangotri Cement Ltd. के अकाउंट के लिये नोट

Mar 31, 2014

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

2. There is no claim against the company not acknowledged as debts.

3. Balance shown under the headings sundry creditors for Goods, expenses & others, sundry debtors, other current assets, banks and advances to suppliers are subject to confirmations. Necessary adjustment, if any will be made when the accounts are reconciled and settled.

4. In the opinion of the management there is no such events occurred after the date of Balance sheet that needs discloser in these accounts.

5. In the Opinion of the board of directors, the loans, advances and current assets have a value on realization in the ordinary course of business, at least equal to the amounts of which these are stated and that the provisions for the known liabilities are adequate and not in excess of the amount reasonably necessary.

6. Valuation & consumption of inventories has been taken as valued and certified by the management.

7. There were no employee at any time during the year drawing Rs.500000/- or more per month.

8. SEGMENT REPORTING

(a) Business Segment: - The Company has considered business segment as the primary segment to disclose. The company is engaged in the manufacture Portland / Slag Cement, which is the context of AS-17 issued by the Institute of Chartered Accountant of India, is considered the only two business segment.Other business, include Trading in fabrics. All the Assets pertaining to the primary business.

(b) Geographical Segment: - The Company sells its products within India. The conditic prevailing in India being Uniform, no Separate geographical segment disclosure is considered necessary.

9. Related party disclosures under accounting standard 18

i. Other related parties with whom transactions have taken place during the year Subsidiaries - NIL

ii. Key management personnel Board of Directors

a. Shri Dipesh M. Sheth b. Shri Parag P Shah

iii. Relative of Key management personnel where transaction have been taken place.

a. Electra India

b. Sheth Engineering works

c. Sheth Steel Processors

d. ABI outsourcing limited

e. K.C. Sheth

f. Pratap .N. Shah

g. Rasila .P. Shah

h. Damayanti Sheth

10. Details of Employee benefits as required by the Accounting Standard 15 "Employee Benefits" are given below:-

(a) Defined Contribution Plans:-

During the year the company has not employed more than 10 employees and therefore no Statutory Act Related employee are applicable. However company has not recognized any amount for Defined Contribution in the profit & loss Accounts as the employee''s are not permanent.

(b) Defined benefit plan:-

Provision of gratuity for the employee of Rs. 18986/- on the basis of the formula given in Annexure -1 of accounting policy point no.12 (b) of accounting Polices, only for that employee who have completed continuous five year service in the enterprises Above provision of gratuity is not accordance with AS-15.

C). Gratuity provision is not in accordance with AS-15

11. In respect of Micro / Small / Medium Enterprises Development Act, 2006, certain disclosure is required to made relating to Micro / Small / Medium Enterprises. The company could not get relevant information from its supplier about their coverage under the Act since the relevant information is not readily available, no disclosure have been made in the account. Hence disclosure, if any, relating to amounts unpaid as at the year end together with interest paid/ payable as required under the said act have not been made

12. Significant accounting policies adopted by the Company are disclosed in the statement annexed to these financial statements as Annexure I.

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Mar 31, 2013

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

2. There is no claim against the company not acknowledged as debts.

3. Balance shown under the headings sundry creditors for Goods, expenses & others, sundry debtors, other current assets, banks and advances to suppliers are subject to confirmations. Necessary adjustment, if any will be made when the accounts are reconciled and settled.

4. In the opinion of the management there is no such events occurred after the date of Balance sheet that needs discloser in these accounts.

5. In the Opinion of the board of directors, the loans, advances and current assets have a value on realization in the ordinary course of business, at least equal to the amounts of which these are stated and that the provisions for the known liabilities are adequate and not in excess of the amount reasonably necessary.

6. Valuation & consumption of inventories has been taken as valued and certified by the management.

7 There were no employee at any time during the year drawing Rs.500000/- or more per month.

8. SEGMENT REPORTING

(a) Business Segment: - The Company has considered business segment as the primary segment to disclose. The company is engaged in the manufacture Portland / Slag Cement, which is the context of AS-17 issued by the Institute of Chartered Accountant of India, is considered the only business segment. Segment revenue, segment expenses, segment assets and segment liabilities have been identified to segments on the basis of their relationship to the operating activities of the segment.

(b) Geographical Segment: - The Company sells its products within India. The condition prevailing in India being Uniform No. Separate geographical segment disclosure is considered necessary.

9. Related party disclosures under accounting standard 18

i. Other related parties with whom transactions have taken place during the year

Subsidiaries - NIL

ii. Key management personnel Board of Directors

a. Shri K.C.Sheth

b. Shri Dipesh M. Sheth

c. Shri Parag P Shah

iii. Relative of Key management personnel where transaction have been taken place.

a. Electra India

b. Sheth Engineering works

c. Sheth Steel Processors

d. ABI outsourcing limited

e. Parag Shah

f. Pratap .N. Shah

g. Rasila .P. Shah h. Damayanti Sheth

10. Details of Employee benefits as required by the Accounting Standard 15 "Employee Benefits" are given below:-

(a) Defined Contribution Plans:-

During uie year the company has not employed more than 10 employees and therefore no Statutory Act Related employee are applicable. However company has not recognized any amount for Defined Contribution in the profit & loss Accounts as the employee''s are not permanent.

(b) Defined benefit plan;-

Provision of gratuity for the employee of Rs. 25643/- on the basis of the formula given in Annexure -1 of accounting policy point no. 12 (b) of accounting Polices, only for that employee who have completed continuous five year service in the enterprises Above provision of gratuity is not accordance with AS-15.

C). Gratuity provision is not in accordance with AS-15

11. In respect of Micro / Small / Medium Enterprises Development Act, 2006, certain disclosure is required to made relating to Micro / Small / Medium Enterprises. The company could not get relevant information from its supplier about their coverage under the Act since the relevant information is not readily available, no disclosure have been made in the account. Hence disclosure, if any, relating to amounts unpaid as at the year end together with interest paid/ payable as required under the said act have not been made

12. Significant accounting policies adopted by the Company are disclosed in the statement annexed to these financial statements as Annexure I.

A. Basis of Preparation:-

The financial statement have been prepared under the historical cost conventional accrual basis of accounting, in conformity with accounting principles generally accepted in India requires management to make estimates and assumptions that affect the reported amounts of asset and liabilities and disclosures relating to contingent liabilities as at the date of financial statements and reported amounts of revenues and expenses during the reporting period, actual results could differ from these estimates. Differences between actual result and estimates are recognized in periods in which the results are known/materialized, or comply with the accounting standard referred to in Sec. 211 (3c) of the Companies Act, 1956.

Sales are recognized on passing of risks and rewards attached to the goods. Sales do not include value added tax(VAT) and central sales tax(CST).

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Mar 31, 2012

A. Basis of Preparation:-

The financial statement have been prepared under the historical cost conventional accrual basis of accounting, in conformity with accounting principles generally accepted in India requires management to make estimates and assumptions that affect the reported amounts of asset and liabilities and disclosures relating to contingent liabilities as at the date of financial statements and reported amounts of revenues and expenses during the reporting period, actual results could differ from these estimates. Differences between actual result and estimates are recognized in periods in which the results are known/materialized, or comply with the accounting standard referred to in Sec. 211 (3c) of the Companies Act, 1956.

Sales are recognized on passing of risks and rewards attached to the goods, sales do not include value added tax(VAT) and central sales tax(CST).

1. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

2. There is no claim against the company not acknowledged as debts.

3. Balance shown under the headings sundry creditors for Goods, expenses & others, sundry debtors, other current assets, banks and advances to suppliers are subject to confirmations. Necessary adjustment, if any will be made when the accounts are reconciled and settled.

4. In the opinion of the management there is no such events occurred after the date of Balance sheet that needs discloser in these accounts.

5. In the Opinion of the board of directors, the loans, advances and current assets have a value on realization in the ordinary course of business, at least equal to the amounts of which these are stated and that the provisions for the known liabilities are adequate and not in excess of the amount reasonably necessary.

6. Valuation & consumption of inventories has been taken as valued and certified by the management.

7 There were no employee at any time during the year drawing Rs. 500000/- or more per month.

8. SEGMENT REPORTING

(a) Business Segment: - The Company has considered business segment as the primary segment to disclose. The company is engaged in the manufacture Portland / Slag Cement, which is the context of AS_17 issued by the Institute of Chartered Accountant of India, is considered the only business segment. Segment revenue, segment expenses, segment assets and segment liabilities have been identified to segments on the basis of their relationship to the operating activities of the segment.

(b) Geographical Segment: - The Company sells its products within India. The condition prevailing in India being Uniform No. Separate geographical segment I disclosure is considered necessary.

9. Related party disclosures under accounting standard 18

i. Other related parties with whom transactions have taken place during the year Subsidiaries - NIL

ii. Key management personnel Board of Directors

a. Shri K.C.Sheth

b. Shri Dipesh M. Sheth

c. Shri Parag P Shah

iii. Relative of Key management personnel where transaction have been taken place.

a. Electra India

b. Sheth Engineering works

c. Sheth Steel Processors

d. ABI outsourcing limited

e. Parag Shah

f. Pratap .N. Shah

g. Rasila .P. Shah

10. Details of Employee benefits as required by the Accounting Standard 15 "Employee Benefits" are given below:-

(a) Defined Contribution Plans;-

During the year the company has not employed more than 10 employees and therefore no Statutory Act Related employee are applicable. However company has not recognized any amount for Defined Contribution in the profit & loss Accounts as the I employee''s are not permanent.

(h) Defined benefit plan:-

Provision of gratuity for the employee of Rs. 26125 on the basis of the formula given in Annexure -1 of accounting policy point no. 12 (b) of accounting Polices, only for that employee who have completed continuous five year service in the enterprises Above provision of gratuity is not accordance with AS-15.

C). Gratuity provision is not in accordance with AS-15

11. In respect of Micro / Small / Medium Enterprises Development Act, 2006, certain disclosure is required to made relating to Micro / Small / Medium Enterprises. The company could not get relevant information from its supplier about their coverage under the Act since the relevant information is not readily available, no disclosure have been made in the account. Hence disclosure, if any, relating to amounts unpaid as at the yearend together with interest paid/ payable as required under the said act have not been made

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Mar 31, 2011

1. There is no claim against the company not acknowledged as debts.

2. Balance shown under the headings sundry creditors for Goods, expenses & others, sundry debtors, other current assets, banks and advances to suppliers are subject to confirmations. Necessary adjustment, if any will be made when the accounts are reconciled and settled.

3. Figure of the previous year has been rearranged / regrouped / reclassified wherever considered necessary.

4. In the opinion of the management there is no such events occurred after the date of Balance sheet that needs discloser in these accounts.

5. In the Opinion of the board of directors, the loans, advances and current assets have a value On realization in the ordinary course of business, at least equal to the amounts of which these are stated and that the provisions for the known liabilities are adequate and not in excess of the amount reasonably necessary.

6. Valuation & consumption of inventories has been taken as valued and certified by the management.

7 There were no employee at any time during the year drawing Rs.200000/- or more per month.

8. DEFERRED TAX

In accordance with the Accounting Standard - 22 "Accounting for taxes on Income" issued by the Institute of Chartered Accountants of India, company has accounted for deferred tax Assets during the year. Consequently, the deferred tax Assets of Rs.15.13 Lacs as on 31st March' 2011 on net timing difference of Rs.48.95 Lacs has been recognized and same has been credited to the Profit & Loss A/c during the year.

9. SEGMENT REPORTING

(a) Business Segment: - The Company has considered business segment as the primary segment to disclose. The company is engaged in the manufacture Portland/Slag Cement, which is the context of AS17 issued by the Institute of Chartered Accountant of India, is considered the only business segment. Segment revenue, segment expenses, segment assets and segment liabilities have been identified to segments on the basis of their relationship to the operating activities of the segment.

(b) Geographical Segment: - The Company sells its products within India. The condition prevailing in India being Uniform No. Separate geographical segment disclosure is considered necessary.

10. Related party disclosures under accounting standard 18

iv. Transaction with related. parties referred to above in, ordinary course of business.

11. Details of Employee benefits as required by the Accounting Standard 15 "Employee Benefits" are given below:-

(a) Defined Contribution Plans:-

During the year the company has not employed more than 10 employees and therefore no Statutory Act Related employee are applicable. However company has not recognized any amount for Defined Contribution in the profit & loss Accounts as the employee's are not permanent.

(b) Defined benefit plan:-

No provision of gratuity and encashment of earned leaves not availed by the employees up to 31.3.2011. The same shall be accounted for as and when paid

12. Schedule A to R form an integral part of the Balance Sheet and Profit and loss accounts.

13. Details required to be given as per the clause 4, 4A, 4B, 4C and 4D under part II of the schedule VI of the Companies Act 1956.

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Mar 31, 2010

1. There is no claim against the company not acknowledged as debts.

2. Balance shown under the headings sundry creditors for Goods, expenses & others, sundry debtors, other current assets, banks and advances to suppliers are subject to confirmations. Necessary adjustment, if any will be made when the accounts are reconciled and settled.

3. Figure of the previous year has been rearranged / regrouped / reclassified wherever considered necessary.

4. In the opinion of the management there is no such events occurred after the date of Balance sheet that needs discloser in these accounts.

5. In the Opinion of the board of directors, the loans, advances and current assets have a value on realization in the ordinary course of business, at least equal to the amounts of which these are stated and that the provisions for the known liabilities are adequate and not in excess of the amount reasonably necessary.

6. Valuation & consumption of inventories has been taken as valued and certified by the management.

7 There were no employee at any time during the year drawing Rs.200000/- or more per month.

8. DEFERRED TAX

In accordance with the Accounting Standard - 22 "Accqunting for taxes on Income" issued by the Institute of Chartered Accountants of India, company has accounted for deferred tax Assets during the year. Consequently, the deferred tax Assets ofRs 1523987.00 as on 31st March 2010 on net timing difference of Rs.4931997.93 has been first time recognized and same has been credited to the Profit & Loss A/c during the year.

9. SEGMENT REPORTING

(a) Business Segment: - The Company has considered business segment as the primary segment to disclose. The company is engaged in the manufacture Portland/Slag Cement, which is the context of AS_17 issued by the Institute of Chartered Accountant of India, is considered the only business segment. Segment revenue, segment expenses, segment assets and segment liabilities have been identified to segments on the basis of their relationship to the operating activities of the segment.

(b) Geographical Segment: - The Company sells its products within India. The condition prevailing in India being Uniform No. Separate geographical segment disclosure is considered necessary.

10. Earning per share:-

Net Profit/(Loss) for the year - (Rs.265597.36)

No. of Equity Shares - 3335500

Profit/(Loss) per share - (O.OS)Rupees

11. Related party disclosures under accounting standard 18

i. Other related parties with whom transactions have taken place during the year Other related parties with whom transactions have taken piace during the year Subsidiaries - NIL

ii. Key management personnel Board of Directors

a. Shri K.C.Sheth

b. ShriDipeshM.Sheth

c. Shri Parag P. Shah

iii. Relative of Key management personnel where transaction have been taken place.

a. Electra India

b. Sheth Engineering works

c. Sheth Steel Processors

d. ABI outsourcing limited

e. Parag Shah

f. Pratap..M.Shah

g. Rasila.P.Shah

12. Schedule Ato Rform an integral part of the Balance Sheet and Profit and loss accounts.