Good Value Marketing Company Ltd. के अकाउंट के लिये नोट

Mar 31, 2015

1. Fixed Assets & Depreciation

All Assets are stated at cost less accumulated depreciation and Decreciation has been calculated on w.d.v. method as per specified in Companies Rules 2006.

2. Inventories

As per consistent practice followed by the Company the Valuation is done as under

a) Raw materials, Stores, compenents and work in progress at cost.

b) Finished goods at below market price( as certified by the Management).

c) Stock in trade of shares is valued market value.

Note No 3 Sales

Sales are inclusive of sales tax if any and are net of trade discount.

Note No 4 Retirment Benefits

There is no scheme for retirment benefits, such as gratuity, superannuation and encashment of leave on retirment benefits at present applicable in this company

Note No 5

Rs. 63,237,063/- (Previous year Rs.63,201,591/-) Unsecured loan included interest free loans from a Company in which a Director is interested.

Note No 6

Payment of Bonus if any for the year will be accounted on cash basis.

Note No 7

No provision for accumulated arrears of dividend on preference shares amounts to Rs. 8,66,80,080/-(previous Year Rs. 8,34,20,880/-) has been made in the accounts

Note No 8

The balance of sundry debtors, loans and advances and current liabilities are subject to confirmation, adjustments and pending reconciliation.

Note No 9

The Company has become Sick Company within the meaning of Clause (O) of Sub- section (1) of Section (3) of the Sick Industrial Companies (Special Provision) Act, 1985. The last application to Board for Industrial & Financial Reconstruction was registered on 23/05/2007. The related proceedings are in progress.

Note No 10

There are no amounts overdue and remaining unpaid claims to Small Scale and / or Ancillary Industrial Suppliers.

Note No 11 Segment Reporting

Business Segment - Agricultural Products.

Note No 12

Accounting Standard 22

As -22 clarify that" The Deferred Tax Asset" should be recognised whereever there is some positive evidence that in future some taxable income would arise. As there is no evidence that any taxable income would arisein future, there is no deferred tax liability / asset.

Note No 13

Current financial Year accounts have prepared from 01.08.2014 To 31.03.2015 (P.Y. 01.08.2013 To 31.07.2014) as per section 2(41) of the Companies act 2013.

Note No 14

Figures of previous year have been regrouped, reclassified wherever considered necessary.

---

Jul 31, 2014

Note No 1

Fixed Assets & Depreciation

All Assets are stated at cost less accumulated depreciation and Decreciation has been calculated on w.d.v. method

Note No 2

Inventories

As per consistent practice followed by the Company the Valuation is done as under

a) Raw materials, Stores, compenents and work in progress at cost.

b) Finished goods at below market price( as certified by the Management).

c) Stock in trade of shares is valued market value.

Note No 3

Sales

Sales are inclusive of sales tax if any and are net of trade discount.

Note No 4

Retirment Benefits

There is no scheme for retirment benefits, such as gratuity, superannuation and encashment of leave on retirment benefits at present applicable in this company .

Note No 5

Rs. 63,201,591/- (Previous year Rs.63,201,507/-) Unsecured loan included interest free loans from a Company in which a Director is interested.

Note No 6

Payment of Bonus if any for the year will be accounted on cash basis.

Note No 7

No provision for accumulated arrears of dividend on preference shares amounts to Rs. 7,46,2 ,040/-(previous Year Rs. 7,41,32,160/-) has been made in the accounts

Note No 8

The balance of sundry debtors, loans and advances and current liabilities are subject to confirmation, adjustments and pending reconciliation.

Note No 9

The Company has become Sick Company within the meaning of Clause (O) of Sub- section (1) of Section (3) of the Sick Industrial Companies (Special Provision) Act, 1985. The last application to Board for Industrial & Financial Reconstruction was registered on 23/05/2007. The related proceedings are in progress.

Note No 10

There are no amounts overdue and remaining unpaid claims to Small Scale and / or Ancillary Industrial Suppliers.

Note No 11

Segment Reporting

Business Segment - Agricultural Products.

Note No 12

Accounting Standard 22

As -22 clarify that" The Deferred Tax Asset" should be recognised whereever there is some positive evidence that in future some taxable income would arise. As there is no evidence that any taxable income would arisein future, there is no deferred tax liability / asset.

Note No 13

Figures of previous year have been regrouped, reclassified wherever considered necessary.

---

Jul 31, 2013

Note No 1

Fixed Assets & Depreciation

All Assets are stated at cost less accumulated depreciation and Decreciation has been calculated on w.d.v. method

Note No 2 Inventories

As per consistent practice followed by the Company the Valuation is done as under

a) Raw materials, Stores, compenents and work in progress at cost.

b) Finished goods at below market price( as certified by the Management).

c) Stock in trade of shares is valued market value.

Note No 3 Sales

Sales are inclusive of sales tax if any and are net of trade discount.

Note No 4 Retirment Benefits

There is no scheme for retirment benefits, such as gratuity, superannuation and encashment of leave on retirment benefits at present applicable in this company

Note No 5

Rs. 63,201,507/- (Previous year Rs.63,208,580/-) Unsecured loan included interest free loans from a Company in which a Director is interested.

Note No 6

payment of Bonus if any for the year will be accounted on cash basis.

Note No 7

No provision for accumulated arrears of dividend on preference shares amounts to Rs. 7,41,32,160/-(previous Year Rs. 7,36,43,280/-) has been made in the accounts

Note No 8

The balance of sundry debtors, loans and advances and current liabilities are subject to confirmation, adjustments and pending reconciliation.

Note No 9

The Company has become Sick Company within the meaning of Clause (0) of Sub- section (1) of Section (3) of the

Sick Industrial Companies (Special Provision) Act, 1985. The last application to Board for Industrial & Financial Reconstruction was registered on 23/05/2007. The related proceedings are in progress.

Note No 10

There are no amounts overdue and remaining unpaid claims to Small Scale and / or Ancillary Industrial Suppliers,

Note No 11

Segment Reporting

Business Segment - Agricultural Products.

Note No 12 Accounting Standard 22

As -22 clarify that" The Deferred Tax Asset" should be recognised whereever there is some positive evidence that in future some taxable income would arise. As there is no evidence that any taxable income would arisein future, there is no deferred tax liability / asset.

Note No 13

Figures of previous year have been regrouped, reclassified wherever considered necessary.

---

Jul 31, 2012

Note No 1

Fixed Assets & Depreciation

All Assets are stated at cost less accumulated depreciation and Decreciation has been calculated on w.d.v. method

Note No 2 Inventories

As per consistent practice followed by the Company the Valuation is done as under

a) Raw materials. Stores, compenents and work in progress at coast.

b) Finished goods at below market price( as certified by the Management).

c) Stock in trade of shares is valued market value.

Note No 3 Sales

Sales are inclusive of sales tax if any and are net of trade discount.

Note No 4 Retirment Benefits

There is no scheme for retirment benefits, such as gratuity, superannuation and encashment of leave on retirment benefits at present applicable in this company

Note No 5

Rs. 63,208,580/- (Previous year Rs.62,902,478/-) Unsecured loan included interest free loans from a Company in which a Director is interested.

Note No 6

payment of Bonus if any for the year will be accounted on cash basis.

Note No 7

No provision for accumulated arrears of dividend on preference shares amounts to Rs. 7,36,43,280/-(previous Year Rs. 6,87,54,480/-) has been made in the accounts

Note No 8

Unsecured loan includes Rs. 26,85,500/- from Prafulla Investment Pvt. Ltd. which has shown as Secured Loan in the previous years i.e. July 2011

Note No 9

The balance of sundry debtors, loans and advances and current liabilities are subject to confirmation, adjustments and pending reconciliation.''

Note No 10

The Company has become Sick Company within the meaning of Clause (O) of Sub- section (1) of Section (3) of the Sick Industrial Companies (Special Provision) Act, 1985. The last application to Board for Industrial & Financial Reconstruction was registered

Note No 11

There are no amounts overdue and remaining unpaid claims to Small Scale and / or Ancillary Industrial Suppliers.

Note No 12 Segment Reporting

Business Segment - Agricultural Products.

Note No 13

Accounting Standard 22

As -22 clarify that" The Deferred Tax Asset" should be recognised whereever there is some positive evidence that in future some taxable income would arise. As there is no evidence that any taxable income would arisein future, there is no deferred tax liability / asset.

Note No 14

The financial statements for the year ended 31st July 2011 hasd been prepared as per the then applicable, pre- revised schedule VI to the Companies act, 1956, the financial statements for the year ended 31st July 2012 are prepared as per Revised Schedule V. Accordingly the previous year figures have also been reclassified to conform to this year''s classification. The adoption of Revised Schedule VI for the previous year figures does not impect recognition and measurement principles followed for the preparation of financial statements.

---

Jul 31, 2011

1. Previous years figures have been regrouped, wherever necessary.

2. Rs.62,902,478/- (Previous year Rs. 62,871,865/-) Unsecured loan included interest free loans from a Company in which a Director is interested.

3. Payment of Bonus if any for the year will be accounted on cash basis.

4. No provision for accumulated arrears of dividend on Preference Shares amounts to Rs.6,87,54,480/- (Previous Year /Rs.6,38,65,680/-; has been made in the accounts.

5. The balance of sundry debtors, loans and advances and current liabilities are subject to confirmation, adjustments and pending reconciliation.

6. The Company has become Sick Company within the meaning of Clause (O) of Sub-section (1) of Section (3) of the Sick Industrial Companies (Special Provisions) Act, 1985. The last application to Board for Industrial & Financial Reconstruction was registered by BIFR on 23.05.2007. The related proceedings are in progress.

7. There are no amounts overdue and remaining unpaid claims to Small Scale and / or Ancillary Industrial Suppliers.

8. Accounting Standard 22: AS-22 clarify that "The Deferred Tax Asset" should be recognized wherever there is some positive evidence that in future some taxable income would arise. As there is no evidence that any taxable income will arise in future, there is no deferred tax liability / asset.

9. Additional information pursuant to the provisions of Part II of Schedule VI of The Companies Act, 1956 to the extent applicable as certified by the Management.

---

Jul 31, 2010

1. Previous years figures have been regrouped, wherever necessary.

2. Rs.62,876,765/- (Previous year Rs. 6,40,48,428/-) Unsecured loan included interest free loans from a Company in which a Director is interested.

3. Payment of Bonus if any for the year will be accounted on cash basis.

4. No provision for accumulated arrears of dividend on Preference Shares amounts to Rs.6,38,65,680/- (Previous Year Rs5,89,76,880/-) has been made in the accounts.

5. The balance of sundry debtors, loans and advances and current liabilities are subject to confirmation, adjustments and pending reconciliation.

6. The Company has become Sick Company within the meaning of Clause (O) of Sub-section (1) of Section (3) of the Sick Industrial Companies (Special Provisions) Act, 1985. The last application to Board for Industrial & Financial Reconstruction was registered by BIFR on 23.05.2007. The related proceedings are in progress.

7. Income Tax assessments are completed up to Assessment Year 2003-04. However, the Income Tax Department has reopened Assessment under Section 148 of the Income Tax Act, 1961 in respect of Assessment Year 1996-97. The reassessment was completed and demand for Rs.10,63,19,433/- has been raised. The Company has contested this demand and matter is pending before the Income Tax Appellate Tribunal, Mumbai. Income Tax demands for earlier Assessment Years are under reconciliation. Adjustments arising there from will be made subsequently.

8. There are no amounts overdue and remaining unpaid claims to Small Scale and / or Ancillary Industrial Suppliers.

9. Segment Reporting:

Business Segment - Agricultural Products.

10. Accounting Standard 22: AS-22 clarify that "The Deferred Tax Asset" should be recognized wherever there is some positive evidence that in future some taxable income would arise. As there is no evidence that any taxable income will arise in future, there is no deferred tax liability / asset.