1. Estimated value of contracts remaining to be executed on capital account but not provided for -NIL
2. Confirmation of balances from parties, etc., has been made available for verification.
3. Figures have been rounded off to rupees.
4. Contingent Liability not provided for in the books of Account.-NIL.
5. In the opinion of the Board, the Current Assets, Long Term Loans and Advances as stated in the Balance Sheet are
approximately of the value, if they are realized in the ordinary course of business.
6. Note 1 to 26 form an integral part of the Annual accounts.
7. foreign currency Transactions Nil
(a) Earning in foreign currency Nil
(b) Expenditure in foreign currency in all accounts Nil
8. Particulars of employees who are in receipt of remuneration:
a) Number of employees employed throughout the financial year who were in receipt of remuneration for the year which in the aggregate
was not less than Rs.10200000/- p.a (Previous year Rs.10200000/- p.a) NIL
b) Number of employees employed for a part of the year who were in receipt of remuneration for any part or parts of that year at a rate
which in the aggregate was not less than Rs.850000/- p.m (Previous year Rs.850000/- p.m) NIL
9. A.Value of imports on CIF value : Nil
10. SECURED LOANS: Nil secured / Unsecured loans in the name of the Company
11. Company's liabilities towards gratuity is Nil.
12. Depreciation has been provided under SLM method on Fixed Assets after considering the life of the assets on pro-rate basis as
specified in Part C of Schedule II of the Companies Act, 2013.
13. The company has no dues to their suppliers under Micro, Small and Medium Enterprises Development Act, 2006 and hence
disclosure, if any, relating to amounts unpaid as at the end of the period together with interest payable as required under the said Act could
not be furnished. The management is of the opinion that interest, if any, on such accounts will not be material.
14. No provision is made for liability towards employees benefits as required by AS-15 (revised) on “Employees Benefits”, since Not
applicable.
18. SEGMENT REPORTING :
The Company is primarily engaged in the Education, which is coming under one segment and hence no segment - wise reporting has
been given.
19. DISCLOSURE IN RESPECT OF RELATED PARTIES PURSUANT TO ACCOUNTING STANDARD - 18 :
1. List of related parties and nature of relationships:
Parties with whom the company has entered into transactions during the year :
a) Associates : Nil
22. Material Events occurred between the balance sheet date and the date on which the financial statements are approved are considered
while preparing the annual accounts.
23. Previous year figures have been regrouped / reclassified where ever necessary.
24. Provision for taxation is made in the books of the company after considering the provisions of Section 115JB of the Income Tax Act.
25.Other Statutory Information:
a) No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of
funds) by the Company to or in any other persons or entities, including foreign entities (“Intermediaries”), with the understanding, whether
recorded in writing or otherwise, that the intermediary shall: - Directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever (“ultimate Beneficiaries”) by or on behalf of the Company or - provide any guarantee, security or the like to or on behalf
of the Ultimate beneficiaries.
b) No funds have been received by the Company from any persons or entities, including foreign entities (“Funding Parties”), with the
understanding, whether recorded in writing or otherwise, that the Company shall - Directly or indirectly, lend or invest in other persons or
entities identified in any manner whatsoever (“Ultimate Beneficiaries”) by or on behalf of the Funding Party or - Provide any guarantee,
security or the like from or on behalf of the Ultimate Beneficiaries.
c) The Company does not have any benami Property, where any proceeding has been initiated or pending against the Company for
holding any Benami Property.
d) The Company has not traded or invested in Crypto currency or virtual currency during the Financial Year.
e) The Company does not have any transaction which is not recorded in the books of accounts that has been surrendered or disclosed as
income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions
of the Income Tax Act, 1961).
f) The Company has no transactions with Struck Off companies during the year.
g) The Company has not been declared as wilful defaulters by any bank or financial institution or government or any government authority.
h) The Company does not have any charges or satisfaction which is yet to be registered with Registrar of Companies beyond the Statutory
period.
NOTE NO. 25 SIGNIFICANT ACCOUNTING POLICIES
1. BASIS OF ACCOUNTING:
The financial statements are prepared under the historical cost convention, except for certain fixed assets which are revalued, in
accordance with the generally accepted accounting principles in India and the provisions of the Companies Act, 2013.
2. REVENUE RECOGNITION :
Export sales are recognised on receipt of bill of lading from the customs and negotiation of invoices with the Bankers. Local sales and Job
charges receipts are recognised on dispatch of products to customers, which generally coincides with transfer of ownership.
3. FIXED ASSETS:
Fixed Assets are stated at cost net of recoverable taxes and includes amounts added on revaluation. All costs, including financing costs till
commencement of commercial production, net charges on foreign exchange contracts and adjustments arising from exchange rate
variations attributable to the fixed assets are capitalised.
4. DEPRECIATION:
As per the requirement of the provisions of Schedule II of the Companies Act, 2013, the management has decided to adopt the useful lives
as suggested in Part C of Schedule II of the Act with effect from 1 st April, 2014 for all its fixed assets.
5.INVENTORIES:
Inventories are valued at cost or net realisable value whichever is lower.
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