Nikunj Commercials Notes On Acccounts

M/S NIKUNJ COMMERCIALS PVT. LTD. GUWAHATI

SCHEDULE - ‘11’ NOTES ON ACCOUNTS 1. Previous year figures have been rearranged/regrouped wherever necessary. 2. SIGNIFICANT ACCOUNTING POLICIES: (i) Fixed Assets : Fixed assets are recorded at cost of acquisition. They are stated at historical cost (ii) Accounting Convention : The preparation of financial statements in conformity with “GAAP” requires that the management of the company makes estimates and assumptions that affect the reported amounts of income and expenses of the period, the reported balances of assets and liabilities and the disclosures relating to contingent liabilities as of the date of the financial statements. Examples of such estimates / include the useful lives of fixed assets, provisions for doubtful debts / advances, future obligations in respect of retirement benefit plans etc. Actual results could differ from these estimates. All income and expenditure items having material bearing on the financial statements are recognised on accrual basis. The company maintains its Accounts on accrual basis following the historical cost convention in accordance with Generally Accepted Accounting Principles (GAAP) and in compliance with the accounting standards referred to in Section 211(3C) and other requirements of the Companies Act,1956. (iii) Depreciation:- Depreciation on fixed assets have been calculated on WDV method at the rate given in schedule XIV of the Companies Act, 1956 on Prorata basis. (iv) Investments: Investments have been shown at cost. (v) Provision for Income tax , FBT and Deferred tax: Income tax is ascertained on the basis of assessable profits computed in accordance with the provisions of Income Tax Act,1961. Provision of Deferred tax & Fringe Benefit Tax has not been made for the year. (vi) There is no employee eligible for gratuity payment, hence no provision required. (vii) 75% of administrative expenses have been charged to project expenses (WIP) except audit fee. rent, rates and taxes, CS Compliance fee. Bank charges, Legal expenses & Interest have been fully charged to project expenses. 3. ADDITIONAL INFORMATION AS REQUIRED UNDER PART IV OF SCHEDUL VI TO THE COMPANIES ACT,1956. BALANCE SHEET ABSTRACT AND COMPANY’S GENERAL BUSINESS PROFILE : i) Registration Details Registration no. : 02-03768 State Code no. : 02 Balance Sheet Date : 31st March, 2009

Cont…/2

-2ii) Capital raised during the year (Amount in Rs. thousand) Public Issue Private Placement iii)

: :

Right Issue Bonus Issue

: :

Nil Nil

Total Assets

:

7678

Application of Fund Net Fixed Assets Net Current Assets Investment

: : :

158 6646 874

Total Expenditure

:

58

Profit/Loss (after tax) Dividend Rate %

: :

(-)0.5 NIL

Position of Mobilisation and Deployments of Funds (Amount in Rs. thousand) Total Liabilities Source of Fund Paid up Capital Reserve & Surplus Secured Loans Unsecured Loans

iv)

Nil Nil

:

: : : :

7678

1910 292 531 4945

Performance of the Company (Amount in Rs. thousand)

Turnover (Including other Income) Profit/Loss (before tax) Earning per Share Rs.

:

57

: :

(-) 0.5 (-)0.023

v) Generic names of Principal Products/Services of the Company ( As per Monetary Terms) ITEM CODE (ITC CODES)

PRODUCTS DESCRIPTION Construction Work

Signature to Schedule ‘1’ to ‘11’. As per our attached report of even date. For S.K. Bhartia & Co. Chartered Accountants SdS.K. Bhartia Proprietor

Place : Guwahati Date : 29-08-2009

For & on behalf of BOARD OF DIRECTORS

Sd(Mohini Agarwal) Director

Sd(Pawan Kumar Agarwal) Director