nice projects private limited

NICE PROJECTS PRIVATE LIMITED

FINANCIAL STATEMENTS & NOTESF.Y. 2016-17

BOARp Ot',pIRECJORS

MR.SARTAJ ALt (MANAG|NG DTRECTOR)

MRS.NASREEN ALt (DtRECTOR)

MR.SHtRAZ ALt (DtRECTOR)

AUDITORS

M/S RAJIV SHUKLA & CO.

CHARTERED ACCOUNTANTS

G.65A, BASMENT,

KALKAJI, NEW DELHI.I 1 OO19

REG.OFFICE:C.56A KALKAJI. NEW DLEHI-I IOOl9

2o l, Aggarw",ffiuilding No. 1 5,Community Center, Okhla Industrial Area, Phase - l, New Delhi-l l0 020

CIN: U45201DL2004PT C12607 s


FINANCIAL STATEMENTS & NOTES

F .Y. 2016-17

S.No. Particulars

Notice

Directors' Report

Auditors' Report

FinanciaI Statements

5 Significant Accounting Poticies & Notes to Accounts

lncome Tax Return with its Acknowtedgement.

7 Tax Audit Report -3CA & its Annexure 3CD

Comptiance Certificate by Company Secretary of the Company

Annual Report under the Companies Act with ROC Forms

REG.OFFICE:C-56A KALKAJI. NEW DLEHI-I10019

CORPORATE OFFICE201 Aggarwal Okhla Plaza,2nd Floor, Building No.15,

Community Center, Okhla Industrial Area, Phase - I, New Delhi-l l0 020CIN: U45201DL2004PT C12607 5


BALANCE SHEET AS AT 31ST MARCH2017

(b) Deferred Tax Liabitities (Net)

Current liabilities .

(a) Short-term borrowings(b) Trade payablesc) Other current liabilitiesd) Short-term provisions

TOTAL:

(a) lnventories(b) Trade Receivables(c) Cash and Cash Equivalents(d) Shortterm Loans and Advances(e) Other Current Assets

20750000.00313837123.41

51496751.5657108.

157105371.517085285.62

32405219.0047042833.42

20750000.002800361 79.78

64656094.67

159600066.32185097447.7848497326.0015094967.00

105137534.1 9801.

375000.00

169338s62.00657912260.21142438719.70157815.

116472261.00'19801.00

375000.00

160735104.272770117.131 156557.99261259.37

xNote No.1 to 14 forming part of the Balance Sheet in the Financial

(SARTAJ ALt)MANAGING DIRECTOR

AsNQrAQ,,'(sHrRAZ ALt)

DIRECTOR

PLACE: NEW DELHIDATED: 01.09.2017


STATEMENT OF PROFIT & LOSS FOR THE YEAR ENDED ON 31ST MARCH 2017

lt

ill

IV

VVIvtlvil1txX

XIxilxillXIVXVXVI

PARTICULARS NOTENO.

CURRENT YEARAMOUNT

PREVIOUS YEARAMOUNT

llncome from operation

lOther Income

lrotat nevenue (l + lt)

laxrrr.tsrslop"r"t^. E"penses

lCtranges in inventories of work-in-progress and Stock-in-TradelEmployee Benefit ExpenselFinancial Expenses

I Depreciation and Amortization Exoenselother Expensgs

lTotal Expenses (lV)

Profit before exceptional and extraordinary items and tax (|il-lV)Exceptional itemsProfit before extraordinary items and tax (V - Vl)Extraordinary ltemsProfit before tax (Vll- Vltt)Tax Expense:(1) Current Tax(2) Deferred Tax ExpensesProfit (Loss) for the period from continuing operations (Xl-X)ProfiU(loss) from discontinuing operationsTax expense of discontinuing operationsProfit / (Loss) from Discontinuing operations (after tax) (Xll-Xlll)Profit / (Loss) for the period (Xl + XtV)Earnings per equity share: (Face Value Rs. 10)(1) Basic(2) DilutedWeighted Average No. Of Equity Shares Outstandinq

1516

1718192021

22

23

861 104238.0018472405.95

898882638.0C214272461e

879576643.95 920309884.18

656652426.90(8603458.00)85085556.1 536790010.2411428937.0047726521.03

672799830.00(13573592.00)1 19964497.0036730422.4212782690.00641 08631.80

829079993.3' 892812479.22

50496650.630.0c

27497404.960.00

50496650.630.00

50496650.63

18096618.00(140091L00)33800943.63

0.000.000.00

33800943.63

16.29

2075000

27497404.960.00

27497404.96

10520554.00(1429096.00)18405936.96

0.000.000.00

18405936.96

8.87

2075000

xNote No.15 to 23 forming Part of the Statement of the Profit & Loss in the Financial Statement

Ss\sqRAa..(sHrRAzALt)

DIRECTOR

AUDITOR'S REPORTAS PER OUR REPORT OF EVEN DATE APPENDED ON THE BALANCE SHEET

FOR RAJIV SHUKLA & CO..949CeururANrs


.l

Nouno^^-l(,{\(NASREEN ALt)

DIRECTOR

PLACE: NEW DELHIDATED: 01 .09.2017

t\.tBe4v K. SHUKLA). . CHARTEREDACCOUNTANTM.NO.506605

NICE PROJEGTS PRIVATE LIMITEDFORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED AS ON 31ST MARCH 2017

NlcE Projects Private Limited is a Private Limited company domiciled in India and incorporated under the provisions of the Companies Act, (the Acf). Townership of the company is closely held by its promoter director Mr. sartaj Ali and Mrs. Nasreen Ali. The company is primarily engaged in the businesscommercial, lndustrial and Residential construction.

These accounts are prepared under the historical cost convention and evaluated on a going concern basis. The financial statements have been prepared intonformity with generally accepted accounting policies and is in compliance with the mandatory accounting standards issued by The Institute of chaneredAccountants of India (lCAl) & Accounting Standards (AS) Notified/ Applicable issued under the Indian Accounting Standard Rules (as amended) & incompliance with the provision of section 133 of the companies Act 2013 (the Act) read with Rule 7 of The Companies (Account) Rules 2014. presentation and

of the financial statements in accordance with applicable mandatory accounting standards and with relevant presentational requirements of TActs The Company follows the accrual system of accounting are consistent with those used in the previous period & the management evalual

newly issued or revised arcounting pronouncements on an ongoing basis to ensure due compliance

USE OF ESTIMATES:The preparation of financial statements in conformity with GMP requires that the management of the company makes estimates and assumptions that affectthe reported amounts of income and expenses of the period, the reported balances of assets and liabilities and the disclosures retating to contingentas of the date of the financial statements. Actual results could differ from these estimates, difference between the actual results and estimates are recognisedin the period in which the results are known / materialised.

Fixed Assets are stated at cost of acquisition or construction less accumulated depreciation.The cost for this purpose inctudes freight, duties, taxes ano

or installation charges incurred in bringing the assets to its working place and condition for its intended use

on assets has been provided on Straight Line Method in accordance with the provisions of section 123(2) of the Companies Act, 2013.

Rate of the Deprecation has been considered as per useful life of the assets as per the Schedule ll of the Companies Act 201 3.

Costs attributable to the acquisition, installation and construction of asset are capitalised as part of the cost of such assets up to the date the

are capitalised and is ready for its intended use. other borrowing costs are treated as revenue expenditure and charged on the profit and Loss Account.

INVESTMENTS:Investments are classified in current and Longterm Investments, current lnvestments are stated at lower of cost and fair value. Long-term lnvestments

stated at cost. A provision for diminution is made to recognize a decline, other than temporary, in the value of Long-term Investments.

INVENTORIES:Raw Material at site valued at cost or Market Price whichever is less. work in Progress valued at cost incurred on the pro1ect site. work Uncertified valued

for completed projects as per RA bill generated and sent to the parties. lf RA Bill is not issued, valued as per cost incurred on the project.

for current tax is made on the basis of estimated taxable income for the current accounting year in accordance with the Income Tax Act 1961deferred tax for timing differences between the book and tax profits for the year is accounted for using the tax rates and laws that have beenenacted as ofthe balance sheet date in accordance with Accounting Standard - 22'Accounting for Taxes on Income,'. Deferred tax assets/ (Liabilities) arirfrom timing differences are recognized to the extent there is reasonable certainty that these would be realised / payable in future respectively. The deferred

or credit is recognized using current tax rates. Where there is unabsorbed depreciation or carry forward losses, deferred rax assets are recognizedthere is virtual certainty of realization of such assets. other Deferred rax Assets are recognized only to the extent there is a reasonable certainty otalization in future Deferred tax assets / liabilities are reviewed as at each Balance Sheet Date based on developments during the year and available case

laws, to reassess realization/ liabilities.

REVENUE RECOGNITION:Revenue is recognized on the Basis of percentage of completion method, based on the stage of completion of the Balance sheet date. Stage of completiondetermined based on physical survey of quantities completeo.

Contract Tax / VAT payabte bv the and Loss.

Itvl-*^- 1tr*., -iNalAQ'

As at 31 March 2017 As at 31 March 2016

Shares outstanding al the end of the

has only one class of equity snffi of equity shares is entiiled to one voG peilnarelTnE,,v rv\w rer wuilrPcily ugctaleQDuring the year ended on 31.03.20'l 7, the amount of per share dividend recognized as distributions to equity shareholders was NIL (31.03.2016: Rs NIL).|ntheeventof|iquidationofthecompany,theho|dersofequityshareswi||beenti||edtoreceiveremainingassetsofthecompanyafter|st

the hotding of more than s7. witn eainitasl oi66SnaEE

As at 31 March 2017 As at 3l March 2016

As at 31 March 2017 As at 31 March 2016

Net Profiu(Net Loss) For the cunent year+) Transfer from Reserves-) Proposed Dividends-) Interim Dividends

260870147.82

18405936.96

0.00

0.00

No,"nag,=eil\{'At'

3 LONG TERM BORROWINGS

>articular As at 31 March 2017 As at 31 March 2016Amount Amount

1) From BanksYes Bank LAP-o16LAO214O42OOO1

Secured Loan (Plant & Machinery)

Less: Current maturitles of Long Term Boffowings

Closing BalanceIn case of continuino default as on the balance sheet date In repavment of loans and Interest.1. Period of default2. Amouni

Unsecured LoansLoans and Advances from related parfiesDue to DirectorsMr. Sartaj Alilvlrs.Nasreen Alilvlr. Shiraz Ali(The above, Loan is interest free given to the company ,without loan greement )

From Other Parties (Flnancial Institutions)Religare Finvest Ltd

Less: Curreni maturities of Long Term Borrowingsilosing Balance

NILNIL

32969627.2t 44242403.27

929916.0C32969627.2t

1 1976115.0(

452',t2719.2i

12117393.Ot

20993512.28 33095326.27

10946635.4012864628.00531 1399.00

1380577.00

10946635.4012914628.OA

5761716.00

1937789.00

30503239.4C0.0c

31560768.40onn

30503239.40 31560768.40

Total51496751.68 64656094.67

4 )EFERRED TAX LtABtL|TY (NET

tarticulars As at 31 March 2o{7 As at 31 March 2016Amount Amountlelated to Fixed Assets

)pening Balancelhange or Created during tlle year

7058019.00(140091 1.00)

84871 15.0((1429096 00

fotal 5657108.0( 7058019.0(

5 SHORT.TERM BORROWINGS

rarticulars As at 31 March 2017 As at 31 March 2016Amount Amount

a) Loans reoavable on demandState Bank of lndia CC A,/citate Bank of lndia SLC A,/citate Bank of India okhla -852itate Bank of India Jaipur -693/es Bank A,/c No.001 681 30000551 1

108174258.O140442286.0A2437839.802525830.503525156.93

| 16992936.5240442286.0A

0.000.00

2't64843.80

l'otal157105371.3( '159600066-3'

Current Maturities of LongSecurity Refundable

6 SHORT TERM PROVISIONS

rarticulars As at 31 March 2017 As at 31 March 2016Amount Amount

Provision tor employee benefitsESI & EPF Payable

Duties & TaxesTDS PayableLabour Cess PayableService Tax PayableWCT Payable

Expenses Payable

Chqeque lssued But Not presented

20863731.00406647.00

9988700.000.00

12162300.36267500.00

550473.00

2803482.06

6919068.00769649.00

43s8241.0060991.00

742410.0A352508.00

172100.OC

1720000.0c

47042A33.11 15094967-0(

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NICE PROJECTS PRIVATE LIMITEDNOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED AS ON 31ST MARCH 2OI7

10 NON-CURRENT INVESTMENT

AParticulars Asat3{ March2017 As at 31 March 20't 6

frade Investments Amount Amount(a) Investment in Equity instruments 375000.0( 375000.0c

fotal 375000.0( 375000.00

Remarks: See separate Disclosure Sheet for NCA-Detailed Trade lnvestment.

1',1 NVENTORIES

Particulars As at 31 March 2017 As at 3{ March 2016Amount Amount

,Vork-in-progress (Valued at Cost or Market Price whichever is Lower) 169338562.0C 1 607351 04.0(

fotal 4 .00 { 607351 04.0(

12TRADE RECEIVABLES

Particulars As at 3l March 2017 Asat31 March20{6Amount Amount

Trade receivables outstandinq for a period less than six monthsUnsecuredr considered qoodTrade Receivables within Six MonthsRetention MoneyWithhold Monev

550143935.214036990.00

0.00

170232645.9C45001 555.0C

1656261 2.0C

Sub Total 5541 80925.21 231 79681 2.9C

Trade receivables outstandino for a period exceedino six monthsUnsecured. Considered GoodTrade Receivables within Six MonthsRetention MoneyWithhold Money

Less: Provision for doubtful debts

45979651.0037314154.OA20437530.00

40973305.00

I 03731 335.0(0.0(

40973305.000.00

Sub T I 0373{ 335.0( 4097330

fotal 657912260.21 272770117.90

13 CASH & CASH EQUIVALENTS

Particulars Asat3l March2017 As at 31 March 201 6Amount Amount

a. Balances with banksb. Cheques, drafts on handc. Cash In handd. Fixed Deposite. Accrued Interest on FDR'S

77632 36

748820.0O101777310.0039834957.34

274,796.96

814320.5997098320.00329691 1 9.73

fotal 142438719.7(, I 3{ I 56557.28

14 SHORT TERM LOANS & ADVANCES

Particulars As at 3l March 2017 As at 3l March 20{ 6

Amount Amounta. Loans and advances to related parties

M/s Sana Projects Private Limited

b. Other Short Term Loans & Advances -Unsecured Considered Good

EMD & Security DepositsTds Recoverable/RefundableRecoverable BalancesOther AdvancesPrepaid Expenses

44s21304.O0

2775429.001091't409.739219867.00

1 37854.002591951.79

66668062.00

2934429.OO

19277188.7398s6465.64

31 28'l .00493833.00

Total 70157815.s2-9926{259.37ffiF+,

'w:-,il$tr N*an-* |A*- -R,ruaA,

NOTE FORMIN9 PART OF STATEMENT OF pROqtT & LOSS.

PARTICULARS As at 31 March2017

As at 31 March2016

15 REVENUE FROM OPERAuontract ReceiDtsContract Receipts - DelhiContract Receipts - HaryanaContract Receipts - PunjabContract Receipts - RajasthanContract Receipts - karnatakaContract Receipts - Uttar PradeshContract Receipts - Uttra KhandWork Done Uncertified (2016-17)

Less: Word Done Uncertified (2015-16)

Total

64588068.00273233065.00

98513689.0041991352.00

3381 1 5790.0021792241.OO1 1230109.00

341729711.00

93616838.00392003619.00245402239.O0

0.000.00

100967702.0026606505.00

330089787.001 1 91 194025.00330089787.00

1 1 88686690.00289804052.00

861 104238.00 898882638.00

16 OTHER INCOME:

Interest lncomeInterest Received From Sana Projects pvt.Interest on FDRInterest On lT RefundRebate & DiscountInterest Received From SBI CpShort & Excess

Other Ngn-Operating incomeMisce Income

Ltd.

Total

7588621.0031 1081 .00

1390503.00500144.00

8577133.00104923.95

0.00

7961741.0010264459.182060918.00

0.000.000.00

1140128.0018472405-s5 21427246.18

17 OPERATIVE EXPENSES:

a)

b)

Input Tax on PurchasesPurchases - DelhiPurchases - HaryanaPurchases - PunjabPurchases - RajasthanPurchases - UPPurchases - UKMaterial Supplied by CtientSteel & Cement Rate Diff Claimed by ClientTransportation on PurchaseSundry Creditors Wofflnsurance on Purchases

DIRECT EXPENSESJob Work ExpensesHire ChargesNGT Green TaxPower & FuelElectricity & Water ChargesRoyalty for Soil at ITC KapurthalaEntry TaxLoading & Unloading ChargesFreight & CartageVlachinery Repair & Maintenance3ther Deductions made by Clientsnsurance Expenses - Car ( Projects)nsuranceExpenses-P&M

Sub-total(b)Total

8035341.0034538737.0075019757.0033481501.00

75,906,591.009301810.00

112652.000.00

3940884.001028147.00

0.003201.00

10632134.3073091258.00

21 1590469.5086813746.12

0.0031726300.00

9350600.002625000.00

5,268,726.002169766.00(33,006.00)

351.08241368621.00 43323534s.00

396436540.0C6893073.0C

8100.0c6136784.90

701618.000.00

9000.00417798.00

2097827.001242324.00

160421.001 105807.00

74513.00

196936232.0017694182.00

11200.0015013274.00

1743786.00946797.00160800.00483507.00

2406633.001424690.001084321.001527514.O0

131549.00415283805.9( 239564485.0(656652426.9C 672799830.00

\*-v.r^ d-, SorI'(>4,

18 CHANGE IN INVENTOR\Jpenrng DIocKClosing Stock

Total

1607351 04.00169338562.00

147161512.00160735104.00

(8603458.00) (13573592.00)

19=MPLOYEES

BENEFIT EXPENSES:lvvages hxp A/c

lSalaries Expenses - Sites

lSalary Expenses - HO

I Directors Remuneration

IEPF Expenses-On ( Wages & Satary)ESIC Expenses-On ( Wages & Salary)ESIC ExpensesBonus to WagesBonus to SalaryLabour Cess PaidLabour Welfare A,/c

Insurance-KeymanCompensationLeave EncashmentEmployee Fooding & Beverages ExpensesFestival ExpensesMedical Expenses

Less: Recoveries from Employees

Total

27929933.0027372012.OO14970565.007750000.001716263.00301156.00214729.00

21041s9.00498977.00

1488496.0063210.00

5043.150.00

1,067.00 l

631566.00i26308.00127394.001

40195064.0C39917145.0C16840786.0C8700000.0c6754468.0C

872592.0C

0.0c2332338.0C

942468.002073193.00

59414.0049337.0075202.00

0.00849187.00

'13750.00

351755"0085100878.15 120026699.00

15322.0t 62202.0C

85085556.1€ 1 1 9964497.00

20 FINANCIAL EXPENSE$DanK unargesBank Charges on BGsBank Charges on RTGSInterest on Auto Loan - HOInterest on CE LoanInterest on CC LimitInterest Paid on OD Limit yes BankInterest on SLC LimitInterest on Unsecured LoanInterest on WCTlnterest on Secured Loannterest on Service Taxnterest on Tax Deducted at Sourcenterest on Mob.Advance

-oan Processing Chargesnterest Paid

/ Total

941130.098069s22.00

11741.630.00

26590.0012888953.00

518322.915185533.00267561.00108357.00

4714084.61550464.00711234.00

2024801.00752882.O0

18834.00

2289068.474063474.O0

1 7300.1 912726.79

194459.0012523324.O0

429537.764577442.00

57134.O055202.00

6264738.85881234.00455016.00

1885519.001887082.00]1 137164.361

36790010.24 36730422.42;.', 'nd,

21

11428937.00 12782690.00

Total 11428937.00 12782690.0(

\*'-L g\ua,

22 OTHER EXPENSES/AD XPENSES:Advertisement ExpensesAudit FeesBooks News Paper & PeriodicalsConsultancy, Legal & Professional ChargesConveyance ExpensesComputer & Software Repair & MaintenanceDonationsElectricity & Water Expenses-HOFees & TaxesInsurance Charges OthersMiscellaneous ExpensesPenalty & FinePooja ExpensesPostage & CourierPrinting & StationeiyRebate & DiscountRent ExpensesRepair & MaintenanceSecurity ExpensesSB Cess & KK CessShort & ExcessTelephone & Internet ExpensesTours & Travelling ExpensesTender ExpensesTesting & Marketing ExpensesVehicle Running & MaintenanceVAT / WCT Paid

Total

16852.0050000.00

2870.003749546.00490932.001 15078.0015,000.00724280.00

56000.00429663.00

16115.000.00

16412.0051677.00

387282.000.00

4738474.00482587.00

2565774.003418776.00

1015340.031283344.00379467.00474616.00917612.O0

26328824.00

26055.0050000.0029181.00

1500352.00913465.00218789.92

886278.00369210.00774214.O065094.00

1194564.0061698.0064470.00

507703.00780663.00

4600701.00677536.00

4929990.00128,489.0060,008.88

1607252.001205043.00

11733.001440619.00723610.00

41281913.0047726521.03 6410863't .80

23 tsA}TNINGS PER SHARE - EPSEquity shares issued (Nos.)Weighted average (Nos. )Profit after taxBasic / Diluted EPS

31.03.2017 31.03.2016207500c207500c

33800943.6316.29

20750002075000

18405936.96nn7

24 RELATED PARTY TRANSAgTIONSFollowing is the list of related parties and relationships:) Key Management Personnel:

a. Mr. SartajAlib. Mrs. Nasreen Alic. Mr. Shiraz Ali

i) Enterprise owned or significantly influenced by key management personnel or their relatives:a. Sana Projects Private Limitedb. Nice Agro Products Private Limited

lelated party transactions during the year ended on 31st March 2017 are as follows:(ey Management Personnel TransactionsSartaj Ali (Director Remuneration)SartajAli (Loan)

tlasreen Ali (Director Remuneration)tlasreen Ali (Rent Paid)tlasreen Ali (Loan)

ihiraz Ali (Director Remuneration)ihiraz Ali (Loan)

iheeba Ali (Salary)iabah Ali (Salary)

3700000.00

10946635.40

2200000.00861840.00

12864628.00

1850000.00531 1399.00

1 080000.00648000.00

tL,Nqr'.r^-

-s\rzrArr

Enterprise owned or significanflyinfluenced by key management

personnel or their relatives

te Limited Loan Granted Rs.44521304.00

The Company has only one reportable business seSmproperties. However these are not'Reportable Segments'as per clause 27 of AS 17, as the revenue from this source is less than10o/o of total revenue. The

The Company has taken various residential / godown / office premises (including Furniture and Fittings if any) under lease andlicense agreements. These arrangements are renewable by mutual consent on mutually agreed terms. Under some of these

has given refundable security deposits.

In accordance with Accounting Standard - 28 on "lmpairment of Assets" issued by the lnstitute of Chartered Accountants of Indiaasset has been identified for impairment by the

ntheopinionofDirectors,CurrentasSetS,|oans&advaeast equal to the amount at which they are stated in the Balance Sheet.

Creditors and Other personal accounts are subjbct to confirmation


For & Behalf of the Board of Directors

(NASREEN ALt)DIRECTOR

A,Nc.,lru^^-Kh 9o\xrM

(sHrRAzALl)DIRECTOR

FOR RAJIV SHUKLA & CO.CHARTERED

PLACE: NEW DELHIDATED: 01.09.2017

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