presentation1
DESCRIPTION
TRANSCRIPT
Revised Schedule VIPresented byTahira Sarkar
IntroductionIn recent times the Indian commercial field has
undergone a number of significant changes Changes in Method of Accounting and its financial statements of corporate bodies is a major outcome of this changing scenario Institute of chartered accountants of India and government of India have joined hands to make Indian Accounting System convergent with International norms of accounting The ministry of Corporate Affairs issued the revised format of Schedule VI dated 28th February2011For the year 2011-2012 every company whether public or private listed or unlisted has to prepare its financial statements as required by the Revised Schedule VI
SOME BASIC POINTS amp SALIENT FEATURES 1048729 Format of Schedule VI was notified vide No SO 447 (E) dated 28th February 2011 and the effective date was notified vide No SO 653(E) dated 30th March 2011 1048729 New Schedule VI shall come into force for the Balance Sheet and Profit amp Loss Account to be prepared for the financial year commencing on or after 1st April 2011 1048729 It has two parts Part I and part II Part I for Balance Sheet and Part II for Profit amp Loss Account 1048729 The Company need not prepare Part IV ie Abstract of the Companyrsquos General Business Profile 1048729 New Schedule VI imports concepts from Ind AS (Indian Accounting Standards) which are yet to be notified It is also retaining certain concepts from existing AS which are omitted in Ind AS
SOME BASIC POINTS amp SALIENTFEATURES (Conthellip)1048729 Vertical form of Balance Sheet amp Profit amp Loss Account is compulsory
1048729 The term ldquoSchedulerdquo is replaced with ldquoNoterdquo in the new format of ScheduleVI1048729 Pre-or Rs5000‐ whichever is higher should be separatelydisclosed Under the new Schedule VI any INCOME or EXPENDITURE whichexceeds 1 of the ldquoREVENUE FROM OPERATIONSrdquo or Rs100000‐whichever is higher Any expenses (with some exceptions) which fallbelow the category should be clubbed with ldquoMiscellaneous Expensesrdquo1048729 Except in the case of first Financial Year corresponding previous yearfigures (comparatives) should be furnished
GENERAL INSTRUCTIONS (Cont)1048729 Assets and Liabilities are classified as ldquoCurrentrdquo and ldquoNon‐Currentrdquo1048729 ldquoCurrentrdquo (assets liabilities) meansndash It is expected to be realized or is intended for sale orconsumption in or settled the companyrsquos normal operatingcyclendash It is primarily for the purpose of being tradedndash It is expected to be realized within 12 months andndash Cash or cash equivalent unless restricted from being exchangedor used to settle a liability for at least twelve months after thereporting date (Current Assets)
ndash The Company does not have an unconditional right to defersettlement of the liability for at least twelve months after thereporting date Terms of liability that could at the option of thecounter party result in its settlement by the issue of equityinstruments do not affect the classification (Current Liabilities)
GENERAL INSTRUCTIONS (Cont) 1048729 ldquoOperating Cyclerdquo is the time between the acquisition of assets for processing and their realization in cash or cash equivalents Where the normal operating cycle cannot be identified it is assumed to have a duration of 12 months 10487291048729 ALL other Assets Liabilities are non‐current assets liabilities 1048729 A Receivable shall be classified as ldquoTRADE RECEIVABLErdquo if it is in respect of the amount due on account of GOODS SOLD or SERVICES RENDERED in the normal course of business 1048729 A Payable shall be classified as ldquoTRADE PAYABLErdquo if it is in respect of the amount due on account of GOODS PURCHASED or SERVICES RECEIVED in the normal course of business
GENERAL INSTRUCTIONS (Cont)TANGIBLE ASSETS1048729 Classificationo Lando Buildingo Plant and Equipmento Furniture and Fixtureso Vehicleso Office Equipmento Others (Specify)1048729 Assets under Lease shall be separately specified under each class of assets10487291048729 A reconciliation of the gross and net carrying amounts of each class of assets at thebeginning and end of the reporting period showing additions disposals acquisitions throughbusiness combinations and other adjustments and the related depreciation and impairmentlosses reversals shall be DISCLOSED SEPARATELY
1048729 Where sums have been written off on a Reduction of Capital or revaluation of assets orwhere sums have been added on revaluation of assets every balance sheet subsequent todate of such write‐off or addition shall show the reduced or increased figures as applicableand shall by way of a note also show the amount of the reduction or increase as applicabletogether with the date thereof for the FIRST FIVE YEARS subsequent to the date of suchreduction or increase
NON‐CURRENT INVESTMENTS1048729 Non‐current Investments shall be classified as TRADE INVESTMENTS and OTHERINVESTMENTS and further classified aso Investment in propertyo Equity shareso Preference shareso Government or trust securitieso Debentures or bondso Mutual Fundso Partnership firmso Other non‐current investments (specify)
NON‐CURRENT INVESTMENTS (Conthelliphellip)1048729 Under each classification details shall be given of NAMES of the BODIESCORPORATE indicating separately whether such bodies areo Subsidiarieso Associateso Joint Ventures oro Controlled Special purpose entities1048729 In whom investments have been made and the NATURE and EXTENT of theInvestments in each of such bodies corporate Partly paid should be shownseparately1048729 In case of PARTERSHIP FIRMSo Name of the Firm and the Name of all the partnerso Total capital ando Shares of each partners10487291048729 Investments carried at OTHER THAN at COST should be separately statedspecifying the basis for valuation thereof
GENERAL INSTRUCTIONS (Cont)INVENTORIESClassificationndash Raw materialndash Work in progressndash Finished goodsndash Stock in trade (for traded goods)ndash Stores and sparesndash Loose Toolsndash Others (Specify)1048729 Goods in Transit should be disclosed under relevant sub‐heads1048729 Mode of valuation shall be statedTRADE RECEIVABLES1048729 Outstanding for a period exceeding six months ldquofrom the date they are due forpaymentrdquo should be shown separatelyndash Sub‐classificationbull Secured considered goodbull Unsecured considered goodbull Doubtful
Amount Amount
Trade Receivables
Outstanding for more than six months
a)Secured Considered Good
XXXX
b)Unsecuredconsidered Good
XXXX
c)Doubtful XXXX XXXX
Other Trade Receivables
a)Secured Considered good
XXXX
b)UnsecuredConsidered Good
XXXX
c)Doubtful XXXX XXXX
PROFIT amp LOSS ACCOUNTREVENUEbull For Companies other than Finance Companiesndash Sale of productsndash Sale of servicesndash Other operating revenues andndash LESS Excise Dutybull For FINANCE COMPANIESndash Interest andndash Other Financial servicesbull REVENUE under EACH of the HEAD shall be disclosed by way of NOTES TOACCOUNTSFinance CostClassificationndash Interest expensendash Other borrowing costndash Applicable net gain loss on foreign exchange transactions and translation
PROFIT amp LOSS ACCOUNT (Cont)Details1048729 Manufacturing Companiesndash Raw materials under broad headsndash Goods purchased under broad heads1048729 Trading CompaniesGoods Purchased under broad heads1048729 Services CompaniesGross Income derived from services rendered or supplied under broad heads1048729 Combinations of aboveIf a company falls under more than one of the above categories then Purchasesales consumption of materials and gross income from services is shown in broadheads10487291048729 Any other CompanyGross income under broad heads1048729 Work in ProgressShould be stated under broad heads
DIGSTAR PROJECT LIMITED Subuddhipur Beltala Baruipur Kolkata 700 144
ParticularsNote No
Figures as at the end of current
reporting period 3132011
Figures as at the end of previous reporting period
3132010
I EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital ------------------------------------------ 1 6873900000 1804040000 (b) Reserves and Surplus (c) Money received against share warrants (2) Share application money pending allotment (3) Non-Current Liabilities (a) Long-term borrowings --------------------------------- 2 4405400 13400000 (b) Deferred tax liabilities (Net) (c) Other Long term liabilities (d) Long term provisions (4) Current Liabilities (a) Short-term borrowings -------------------------------- 3 2948015367 431921500 (b) Trade payables --------------------------------------- 4 235883182 (c) Other current liabilities -------------------------------- 5 392300651 3500000 (d) Short-term provisions
Total 10454504600 2252861500
IIAssets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets ------------------------------------ 6 1235993748 308154400
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories ------------------------------------------- 151587000 110216500 (c) Trade receivables ------------------------------------ 42015500 45169500
(d) Cash and cash equivalents ---------------------------- 7 427366354 193193900
(e) Short-term loans and advances ---------------------- 8 1343648800 425669000
(f) Other current assets ---------------------------------- 9 7253893198 1170458200
Total 10454504600 2252861500
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
IntroductionIn recent times the Indian commercial field has
undergone a number of significant changes Changes in Method of Accounting and its financial statements of corporate bodies is a major outcome of this changing scenario Institute of chartered accountants of India and government of India have joined hands to make Indian Accounting System convergent with International norms of accounting The ministry of Corporate Affairs issued the revised format of Schedule VI dated 28th February2011For the year 2011-2012 every company whether public or private listed or unlisted has to prepare its financial statements as required by the Revised Schedule VI
SOME BASIC POINTS amp SALIENT FEATURES 1048729 Format of Schedule VI was notified vide No SO 447 (E) dated 28th February 2011 and the effective date was notified vide No SO 653(E) dated 30th March 2011 1048729 New Schedule VI shall come into force for the Balance Sheet and Profit amp Loss Account to be prepared for the financial year commencing on or after 1st April 2011 1048729 It has two parts Part I and part II Part I for Balance Sheet and Part II for Profit amp Loss Account 1048729 The Company need not prepare Part IV ie Abstract of the Companyrsquos General Business Profile 1048729 New Schedule VI imports concepts from Ind AS (Indian Accounting Standards) which are yet to be notified It is also retaining certain concepts from existing AS which are omitted in Ind AS
SOME BASIC POINTS amp SALIENTFEATURES (Conthellip)1048729 Vertical form of Balance Sheet amp Profit amp Loss Account is compulsory
1048729 The term ldquoSchedulerdquo is replaced with ldquoNoterdquo in the new format of ScheduleVI1048729 Pre-or Rs5000‐ whichever is higher should be separatelydisclosed Under the new Schedule VI any INCOME or EXPENDITURE whichexceeds 1 of the ldquoREVENUE FROM OPERATIONSrdquo or Rs100000‐whichever is higher Any expenses (with some exceptions) which fallbelow the category should be clubbed with ldquoMiscellaneous Expensesrdquo1048729 Except in the case of first Financial Year corresponding previous yearfigures (comparatives) should be furnished
GENERAL INSTRUCTIONS (Cont)1048729 Assets and Liabilities are classified as ldquoCurrentrdquo and ldquoNon‐Currentrdquo1048729 ldquoCurrentrdquo (assets liabilities) meansndash It is expected to be realized or is intended for sale orconsumption in or settled the companyrsquos normal operatingcyclendash It is primarily for the purpose of being tradedndash It is expected to be realized within 12 months andndash Cash or cash equivalent unless restricted from being exchangedor used to settle a liability for at least twelve months after thereporting date (Current Assets)
ndash The Company does not have an unconditional right to defersettlement of the liability for at least twelve months after thereporting date Terms of liability that could at the option of thecounter party result in its settlement by the issue of equityinstruments do not affect the classification (Current Liabilities)
GENERAL INSTRUCTIONS (Cont) 1048729 ldquoOperating Cyclerdquo is the time between the acquisition of assets for processing and their realization in cash or cash equivalents Where the normal operating cycle cannot be identified it is assumed to have a duration of 12 months 10487291048729 ALL other Assets Liabilities are non‐current assets liabilities 1048729 A Receivable shall be classified as ldquoTRADE RECEIVABLErdquo if it is in respect of the amount due on account of GOODS SOLD or SERVICES RENDERED in the normal course of business 1048729 A Payable shall be classified as ldquoTRADE PAYABLErdquo if it is in respect of the amount due on account of GOODS PURCHASED or SERVICES RECEIVED in the normal course of business
GENERAL INSTRUCTIONS (Cont)TANGIBLE ASSETS1048729 Classificationo Lando Buildingo Plant and Equipmento Furniture and Fixtureso Vehicleso Office Equipmento Others (Specify)1048729 Assets under Lease shall be separately specified under each class of assets10487291048729 A reconciliation of the gross and net carrying amounts of each class of assets at thebeginning and end of the reporting period showing additions disposals acquisitions throughbusiness combinations and other adjustments and the related depreciation and impairmentlosses reversals shall be DISCLOSED SEPARATELY
1048729 Where sums have been written off on a Reduction of Capital or revaluation of assets orwhere sums have been added on revaluation of assets every balance sheet subsequent todate of such write‐off or addition shall show the reduced or increased figures as applicableand shall by way of a note also show the amount of the reduction or increase as applicabletogether with the date thereof for the FIRST FIVE YEARS subsequent to the date of suchreduction or increase
NON‐CURRENT INVESTMENTS1048729 Non‐current Investments shall be classified as TRADE INVESTMENTS and OTHERINVESTMENTS and further classified aso Investment in propertyo Equity shareso Preference shareso Government or trust securitieso Debentures or bondso Mutual Fundso Partnership firmso Other non‐current investments (specify)
NON‐CURRENT INVESTMENTS (Conthelliphellip)1048729 Under each classification details shall be given of NAMES of the BODIESCORPORATE indicating separately whether such bodies areo Subsidiarieso Associateso Joint Ventures oro Controlled Special purpose entities1048729 In whom investments have been made and the NATURE and EXTENT of theInvestments in each of such bodies corporate Partly paid should be shownseparately1048729 In case of PARTERSHIP FIRMSo Name of the Firm and the Name of all the partnerso Total capital ando Shares of each partners10487291048729 Investments carried at OTHER THAN at COST should be separately statedspecifying the basis for valuation thereof
GENERAL INSTRUCTIONS (Cont)INVENTORIESClassificationndash Raw materialndash Work in progressndash Finished goodsndash Stock in trade (for traded goods)ndash Stores and sparesndash Loose Toolsndash Others (Specify)1048729 Goods in Transit should be disclosed under relevant sub‐heads1048729 Mode of valuation shall be statedTRADE RECEIVABLES1048729 Outstanding for a period exceeding six months ldquofrom the date they are due forpaymentrdquo should be shown separatelyndash Sub‐classificationbull Secured considered goodbull Unsecured considered goodbull Doubtful
Amount Amount
Trade Receivables
Outstanding for more than six months
a)Secured Considered Good
XXXX
b)Unsecuredconsidered Good
XXXX
c)Doubtful XXXX XXXX
Other Trade Receivables
a)Secured Considered good
XXXX
b)UnsecuredConsidered Good
XXXX
c)Doubtful XXXX XXXX
PROFIT amp LOSS ACCOUNTREVENUEbull For Companies other than Finance Companiesndash Sale of productsndash Sale of servicesndash Other operating revenues andndash LESS Excise Dutybull For FINANCE COMPANIESndash Interest andndash Other Financial servicesbull REVENUE under EACH of the HEAD shall be disclosed by way of NOTES TOACCOUNTSFinance CostClassificationndash Interest expensendash Other borrowing costndash Applicable net gain loss on foreign exchange transactions and translation
PROFIT amp LOSS ACCOUNT (Cont)Details1048729 Manufacturing Companiesndash Raw materials under broad headsndash Goods purchased under broad heads1048729 Trading CompaniesGoods Purchased under broad heads1048729 Services CompaniesGross Income derived from services rendered or supplied under broad heads1048729 Combinations of aboveIf a company falls under more than one of the above categories then Purchasesales consumption of materials and gross income from services is shown in broadheads10487291048729 Any other CompanyGross income under broad heads1048729 Work in ProgressShould be stated under broad heads
DIGSTAR PROJECT LIMITED Subuddhipur Beltala Baruipur Kolkata 700 144
ParticularsNote No
Figures as at the end of current
reporting period 3132011
Figures as at the end of previous reporting period
3132010
I EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital ------------------------------------------ 1 6873900000 1804040000 (b) Reserves and Surplus (c) Money received against share warrants (2) Share application money pending allotment (3) Non-Current Liabilities (a) Long-term borrowings --------------------------------- 2 4405400 13400000 (b) Deferred tax liabilities (Net) (c) Other Long term liabilities (d) Long term provisions (4) Current Liabilities (a) Short-term borrowings -------------------------------- 3 2948015367 431921500 (b) Trade payables --------------------------------------- 4 235883182 (c) Other current liabilities -------------------------------- 5 392300651 3500000 (d) Short-term provisions
Total 10454504600 2252861500
IIAssets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets ------------------------------------ 6 1235993748 308154400
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories ------------------------------------------- 151587000 110216500 (c) Trade receivables ------------------------------------ 42015500 45169500
(d) Cash and cash equivalents ---------------------------- 7 427366354 193193900
(e) Short-term loans and advances ---------------------- 8 1343648800 425669000
(f) Other current assets ---------------------------------- 9 7253893198 1170458200
Total 10454504600 2252861500
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
SOME BASIC POINTS amp SALIENT FEATURES 1048729 Format of Schedule VI was notified vide No SO 447 (E) dated 28th February 2011 and the effective date was notified vide No SO 653(E) dated 30th March 2011 1048729 New Schedule VI shall come into force for the Balance Sheet and Profit amp Loss Account to be prepared for the financial year commencing on or after 1st April 2011 1048729 It has two parts Part I and part II Part I for Balance Sheet and Part II for Profit amp Loss Account 1048729 The Company need not prepare Part IV ie Abstract of the Companyrsquos General Business Profile 1048729 New Schedule VI imports concepts from Ind AS (Indian Accounting Standards) which are yet to be notified It is also retaining certain concepts from existing AS which are omitted in Ind AS
SOME BASIC POINTS amp SALIENTFEATURES (Conthellip)1048729 Vertical form of Balance Sheet amp Profit amp Loss Account is compulsory
1048729 The term ldquoSchedulerdquo is replaced with ldquoNoterdquo in the new format of ScheduleVI1048729 Pre-or Rs5000‐ whichever is higher should be separatelydisclosed Under the new Schedule VI any INCOME or EXPENDITURE whichexceeds 1 of the ldquoREVENUE FROM OPERATIONSrdquo or Rs100000‐whichever is higher Any expenses (with some exceptions) which fallbelow the category should be clubbed with ldquoMiscellaneous Expensesrdquo1048729 Except in the case of first Financial Year corresponding previous yearfigures (comparatives) should be furnished
GENERAL INSTRUCTIONS (Cont)1048729 Assets and Liabilities are classified as ldquoCurrentrdquo and ldquoNon‐Currentrdquo1048729 ldquoCurrentrdquo (assets liabilities) meansndash It is expected to be realized or is intended for sale orconsumption in or settled the companyrsquos normal operatingcyclendash It is primarily for the purpose of being tradedndash It is expected to be realized within 12 months andndash Cash or cash equivalent unless restricted from being exchangedor used to settle a liability for at least twelve months after thereporting date (Current Assets)
ndash The Company does not have an unconditional right to defersettlement of the liability for at least twelve months after thereporting date Terms of liability that could at the option of thecounter party result in its settlement by the issue of equityinstruments do not affect the classification (Current Liabilities)
GENERAL INSTRUCTIONS (Cont) 1048729 ldquoOperating Cyclerdquo is the time between the acquisition of assets for processing and their realization in cash or cash equivalents Where the normal operating cycle cannot be identified it is assumed to have a duration of 12 months 10487291048729 ALL other Assets Liabilities are non‐current assets liabilities 1048729 A Receivable shall be classified as ldquoTRADE RECEIVABLErdquo if it is in respect of the amount due on account of GOODS SOLD or SERVICES RENDERED in the normal course of business 1048729 A Payable shall be classified as ldquoTRADE PAYABLErdquo if it is in respect of the amount due on account of GOODS PURCHASED or SERVICES RECEIVED in the normal course of business
GENERAL INSTRUCTIONS (Cont)TANGIBLE ASSETS1048729 Classificationo Lando Buildingo Plant and Equipmento Furniture and Fixtureso Vehicleso Office Equipmento Others (Specify)1048729 Assets under Lease shall be separately specified under each class of assets10487291048729 A reconciliation of the gross and net carrying amounts of each class of assets at thebeginning and end of the reporting period showing additions disposals acquisitions throughbusiness combinations and other adjustments and the related depreciation and impairmentlosses reversals shall be DISCLOSED SEPARATELY
1048729 Where sums have been written off on a Reduction of Capital or revaluation of assets orwhere sums have been added on revaluation of assets every balance sheet subsequent todate of such write‐off or addition shall show the reduced or increased figures as applicableand shall by way of a note also show the amount of the reduction or increase as applicabletogether with the date thereof for the FIRST FIVE YEARS subsequent to the date of suchreduction or increase
NON‐CURRENT INVESTMENTS1048729 Non‐current Investments shall be classified as TRADE INVESTMENTS and OTHERINVESTMENTS and further classified aso Investment in propertyo Equity shareso Preference shareso Government or trust securitieso Debentures or bondso Mutual Fundso Partnership firmso Other non‐current investments (specify)
NON‐CURRENT INVESTMENTS (Conthelliphellip)1048729 Under each classification details shall be given of NAMES of the BODIESCORPORATE indicating separately whether such bodies areo Subsidiarieso Associateso Joint Ventures oro Controlled Special purpose entities1048729 In whom investments have been made and the NATURE and EXTENT of theInvestments in each of such bodies corporate Partly paid should be shownseparately1048729 In case of PARTERSHIP FIRMSo Name of the Firm and the Name of all the partnerso Total capital ando Shares of each partners10487291048729 Investments carried at OTHER THAN at COST should be separately statedspecifying the basis for valuation thereof
GENERAL INSTRUCTIONS (Cont)INVENTORIESClassificationndash Raw materialndash Work in progressndash Finished goodsndash Stock in trade (for traded goods)ndash Stores and sparesndash Loose Toolsndash Others (Specify)1048729 Goods in Transit should be disclosed under relevant sub‐heads1048729 Mode of valuation shall be statedTRADE RECEIVABLES1048729 Outstanding for a period exceeding six months ldquofrom the date they are due forpaymentrdquo should be shown separatelyndash Sub‐classificationbull Secured considered goodbull Unsecured considered goodbull Doubtful
Amount Amount
Trade Receivables
Outstanding for more than six months
a)Secured Considered Good
XXXX
b)Unsecuredconsidered Good
XXXX
c)Doubtful XXXX XXXX
Other Trade Receivables
a)Secured Considered good
XXXX
b)UnsecuredConsidered Good
XXXX
c)Doubtful XXXX XXXX
PROFIT amp LOSS ACCOUNTREVENUEbull For Companies other than Finance Companiesndash Sale of productsndash Sale of servicesndash Other operating revenues andndash LESS Excise Dutybull For FINANCE COMPANIESndash Interest andndash Other Financial servicesbull REVENUE under EACH of the HEAD shall be disclosed by way of NOTES TOACCOUNTSFinance CostClassificationndash Interest expensendash Other borrowing costndash Applicable net gain loss on foreign exchange transactions and translation
PROFIT amp LOSS ACCOUNT (Cont)Details1048729 Manufacturing Companiesndash Raw materials under broad headsndash Goods purchased under broad heads1048729 Trading CompaniesGoods Purchased under broad heads1048729 Services CompaniesGross Income derived from services rendered or supplied under broad heads1048729 Combinations of aboveIf a company falls under more than one of the above categories then Purchasesales consumption of materials and gross income from services is shown in broadheads10487291048729 Any other CompanyGross income under broad heads1048729 Work in ProgressShould be stated under broad heads
DIGSTAR PROJECT LIMITED Subuddhipur Beltala Baruipur Kolkata 700 144
ParticularsNote No
Figures as at the end of current
reporting period 3132011
Figures as at the end of previous reporting period
3132010
I EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital ------------------------------------------ 1 6873900000 1804040000 (b) Reserves and Surplus (c) Money received against share warrants (2) Share application money pending allotment (3) Non-Current Liabilities (a) Long-term borrowings --------------------------------- 2 4405400 13400000 (b) Deferred tax liabilities (Net) (c) Other Long term liabilities (d) Long term provisions (4) Current Liabilities (a) Short-term borrowings -------------------------------- 3 2948015367 431921500 (b) Trade payables --------------------------------------- 4 235883182 (c) Other current liabilities -------------------------------- 5 392300651 3500000 (d) Short-term provisions
Total 10454504600 2252861500
IIAssets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets ------------------------------------ 6 1235993748 308154400
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories ------------------------------------------- 151587000 110216500 (c) Trade receivables ------------------------------------ 42015500 45169500
(d) Cash and cash equivalents ---------------------------- 7 427366354 193193900
(e) Short-term loans and advances ---------------------- 8 1343648800 425669000
(f) Other current assets ---------------------------------- 9 7253893198 1170458200
Total 10454504600 2252861500
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
SOME BASIC POINTS amp SALIENTFEATURES (Conthellip)1048729 Vertical form of Balance Sheet amp Profit amp Loss Account is compulsory
1048729 The term ldquoSchedulerdquo is replaced with ldquoNoterdquo in the new format of ScheduleVI1048729 Pre-or Rs5000‐ whichever is higher should be separatelydisclosed Under the new Schedule VI any INCOME or EXPENDITURE whichexceeds 1 of the ldquoREVENUE FROM OPERATIONSrdquo or Rs100000‐whichever is higher Any expenses (with some exceptions) which fallbelow the category should be clubbed with ldquoMiscellaneous Expensesrdquo1048729 Except in the case of first Financial Year corresponding previous yearfigures (comparatives) should be furnished
GENERAL INSTRUCTIONS (Cont)1048729 Assets and Liabilities are classified as ldquoCurrentrdquo and ldquoNon‐Currentrdquo1048729 ldquoCurrentrdquo (assets liabilities) meansndash It is expected to be realized or is intended for sale orconsumption in or settled the companyrsquos normal operatingcyclendash It is primarily for the purpose of being tradedndash It is expected to be realized within 12 months andndash Cash or cash equivalent unless restricted from being exchangedor used to settle a liability for at least twelve months after thereporting date (Current Assets)
ndash The Company does not have an unconditional right to defersettlement of the liability for at least twelve months after thereporting date Terms of liability that could at the option of thecounter party result in its settlement by the issue of equityinstruments do not affect the classification (Current Liabilities)
GENERAL INSTRUCTIONS (Cont) 1048729 ldquoOperating Cyclerdquo is the time between the acquisition of assets for processing and their realization in cash or cash equivalents Where the normal operating cycle cannot be identified it is assumed to have a duration of 12 months 10487291048729 ALL other Assets Liabilities are non‐current assets liabilities 1048729 A Receivable shall be classified as ldquoTRADE RECEIVABLErdquo if it is in respect of the amount due on account of GOODS SOLD or SERVICES RENDERED in the normal course of business 1048729 A Payable shall be classified as ldquoTRADE PAYABLErdquo if it is in respect of the amount due on account of GOODS PURCHASED or SERVICES RECEIVED in the normal course of business
GENERAL INSTRUCTIONS (Cont)TANGIBLE ASSETS1048729 Classificationo Lando Buildingo Plant and Equipmento Furniture and Fixtureso Vehicleso Office Equipmento Others (Specify)1048729 Assets under Lease shall be separately specified under each class of assets10487291048729 A reconciliation of the gross and net carrying amounts of each class of assets at thebeginning and end of the reporting period showing additions disposals acquisitions throughbusiness combinations and other adjustments and the related depreciation and impairmentlosses reversals shall be DISCLOSED SEPARATELY
1048729 Where sums have been written off on a Reduction of Capital or revaluation of assets orwhere sums have been added on revaluation of assets every balance sheet subsequent todate of such write‐off or addition shall show the reduced or increased figures as applicableand shall by way of a note also show the amount of the reduction or increase as applicabletogether with the date thereof for the FIRST FIVE YEARS subsequent to the date of suchreduction or increase
NON‐CURRENT INVESTMENTS1048729 Non‐current Investments shall be classified as TRADE INVESTMENTS and OTHERINVESTMENTS and further classified aso Investment in propertyo Equity shareso Preference shareso Government or trust securitieso Debentures or bondso Mutual Fundso Partnership firmso Other non‐current investments (specify)
NON‐CURRENT INVESTMENTS (Conthelliphellip)1048729 Under each classification details shall be given of NAMES of the BODIESCORPORATE indicating separately whether such bodies areo Subsidiarieso Associateso Joint Ventures oro Controlled Special purpose entities1048729 In whom investments have been made and the NATURE and EXTENT of theInvestments in each of such bodies corporate Partly paid should be shownseparately1048729 In case of PARTERSHIP FIRMSo Name of the Firm and the Name of all the partnerso Total capital ando Shares of each partners10487291048729 Investments carried at OTHER THAN at COST should be separately statedspecifying the basis for valuation thereof
GENERAL INSTRUCTIONS (Cont)INVENTORIESClassificationndash Raw materialndash Work in progressndash Finished goodsndash Stock in trade (for traded goods)ndash Stores and sparesndash Loose Toolsndash Others (Specify)1048729 Goods in Transit should be disclosed under relevant sub‐heads1048729 Mode of valuation shall be statedTRADE RECEIVABLES1048729 Outstanding for a period exceeding six months ldquofrom the date they are due forpaymentrdquo should be shown separatelyndash Sub‐classificationbull Secured considered goodbull Unsecured considered goodbull Doubtful
Amount Amount
Trade Receivables
Outstanding for more than six months
a)Secured Considered Good
XXXX
b)Unsecuredconsidered Good
XXXX
c)Doubtful XXXX XXXX
Other Trade Receivables
a)Secured Considered good
XXXX
b)UnsecuredConsidered Good
XXXX
c)Doubtful XXXX XXXX
PROFIT amp LOSS ACCOUNTREVENUEbull For Companies other than Finance Companiesndash Sale of productsndash Sale of servicesndash Other operating revenues andndash LESS Excise Dutybull For FINANCE COMPANIESndash Interest andndash Other Financial servicesbull REVENUE under EACH of the HEAD shall be disclosed by way of NOTES TOACCOUNTSFinance CostClassificationndash Interest expensendash Other borrowing costndash Applicable net gain loss on foreign exchange transactions and translation
PROFIT amp LOSS ACCOUNT (Cont)Details1048729 Manufacturing Companiesndash Raw materials under broad headsndash Goods purchased under broad heads1048729 Trading CompaniesGoods Purchased under broad heads1048729 Services CompaniesGross Income derived from services rendered or supplied under broad heads1048729 Combinations of aboveIf a company falls under more than one of the above categories then Purchasesales consumption of materials and gross income from services is shown in broadheads10487291048729 Any other CompanyGross income under broad heads1048729 Work in ProgressShould be stated under broad heads
DIGSTAR PROJECT LIMITED Subuddhipur Beltala Baruipur Kolkata 700 144
ParticularsNote No
Figures as at the end of current
reporting period 3132011
Figures as at the end of previous reporting period
3132010
I EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital ------------------------------------------ 1 6873900000 1804040000 (b) Reserves and Surplus (c) Money received against share warrants (2) Share application money pending allotment (3) Non-Current Liabilities (a) Long-term borrowings --------------------------------- 2 4405400 13400000 (b) Deferred tax liabilities (Net) (c) Other Long term liabilities (d) Long term provisions (4) Current Liabilities (a) Short-term borrowings -------------------------------- 3 2948015367 431921500 (b) Trade payables --------------------------------------- 4 235883182 (c) Other current liabilities -------------------------------- 5 392300651 3500000 (d) Short-term provisions
Total 10454504600 2252861500
IIAssets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets ------------------------------------ 6 1235993748 308154400
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories ------------------------------------------- 151587000 110216500 (c) Trade receivables ------------------------------------ 42015500 45169500
(d) Cash and cash equivalents ---------------------------- 7 427366354 193193900
(e) Short-term loans and advances ---------------------- 8 1343648800 425669000
(f) Other current assets ---------------------------------- 9 7253893198 1170458200
Total 10454504600 2252861500
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
GENERAL INSTRUCTIONS (Cont)1048729 Assets and Liabilities are classified as ldquoCurrentrdquo and ldquoNon‐Currentrdquo1048729 ldquoCurrentrdquo (assets liabilities) meansndash It is expected to be realized or is intended for sale orconsumption in or settled the companyrsquos normal operatingcyclendash It is primarily for the purpose of being tradedndash It is expected to be realized within 12 months andndash Cash or cash equivalent unless restricted from being exchangedor used to settle a liability for at least twelve months after thereporting date (Current Assets)
ndash The Company does not have an unconditional right to defersettlement of the liability for at least twelve months after thereporting date Terms of liability that could at the option of thecounter party result in its settlement by the issue of equityinstruments do not affect the classification (Current Liabilities)
GENERAL INSTRUCTIONS (Cont) 1048729 ldquoOperating Cyclerdquo is the time between the acquisition of assets for processing and their realization in cash or cash equivalents Where the normal operating cycle cannot be identified it is assumed to have a duration of 12 months 10487291048729 ALL other Assets Liabilities are non‐current assets liabilities 1048729 A Receivable shall be classified as ldquoTRADE RECEIVABLErdquo if it is in respect of the amount due on account of GOODS SOLD or SERVICES RENDERED in the normal course of business 1048729 A Payable shall be classified as ldquoTRADE PAYABLErdquo if it is in respect of the amount due on account of GOODS PURCHASED or SERVICES RECEIVED in the normal course of business
GENERAL INSTRUCTIONS (Cont)TANGIBLE ASSETS1048729 Classificationo Lando Buildingo Plant and Equipmento Furniture and Fixtureso Vehicleso Office Equipmento Others (Specify)1048729 Assets under Lease shall be separately specified under each class of assets10487291048729 A reconciliation of the gross and net carrying amounts of each class of assets at thebeginning and end of the reporting period showing additions disposals acquisitions throughbusiness combinations and other adjustments and the related depreciation and impairmentlosses reversals shall be DISCLOSED SEPARATELY
1048729 Where sums have been written off on a Reduction of Capital or revaluation of assets orwhere sums have been added on revaluation of assets every balance sheet subsequent todate of such write‐off or addition shall show the reduced or increased figures as applicableand shall by way of a note also show the amount of the reduction or increase as applicabletogether with the date thereof for the FIRST FIVE YEARS subsequent to the date of suchreduction or increase
NON‐CURRENT INVESTMENTS1048729 Non‐current Investments shall be classified as TRADE INVESTMENTS and OTHERINVESTMENTS and further classified aso Investment in propertyo Equity shareso Preference shareso Government or trust securitieso Debentures or bondso Mutual Fundso Partnership firmso Other non‐current investments (specify)
NON‐CURRENT INVESTMENTS (Conthelliphellip)1048729 Under each classification details shall be given of NAMES of the BODIESCORPORATE indicating separately whether such bodies areo Subsidiarieso Associateso Joint Ventures oro Controlled Special purpose entities1048729 In whom investments have been made and the NATURE and EXTENT of theInvestments in each of such bodies corporate Partly paid should be shownseparately1048729 In case of PARTERSHIP FIRMSo Name of the Firm and the Name of all the partnerso Total capital ando Shares of each partners10487291048729 Investments carried at OTHER THAN at COST should be separately statedspecifying the basis for valuation thereof
GENERAL INSTRUCTIONS (Cont)INVENTORIESClassificationndash Raw materialndash Work in progressndash Finished goodsndash Stock in trade (for traded goods)ndash Stores and sparesndash Loose Toolsndash Others (Specify)1048729 Goods in Transit should be disclosed under relevant sub‐heads1048729 Mode of valuation shall be statedTRADE RECEIVABLES1048729 Outstanding for a period exceeding six months ldquofrom the date they are due forpaymentrdquo should be shown separatelyndash Sub‐classificationbull Secured considered goodbull Unsecured considered goodbull Doubtful
Amount Amount
Trade Receivables
Outstanding for more than six months
a)Secured Considered Good
XXXX
b)Unsecuredconsidered Good
XXXX
c)Doubtful XXXX XXXX
Other Trade Receivables
a)Secured Considered good
XXXX
b)UnsecuredConsidered Good
XXXX
c)Doubtful XXXX XXXX
PROFIT amp LOSS ACCOUNTREVENUEbull For Companies other than Finance Companiesndash Sale of productsndash Sale of servicesndash Other operating revenues andndash LESS Excise Dutybull For FINANCE COMPANIESndash Interest andndash Other Financial servicesbull REVENUE under EACH of the HEAD shall be disclosed by way of NOTES TOACCOUNTSFinance CostClassificationndash Interest expensendash Other borrowing costndash Applicable net gain loss on foreign exchange transactions and translation
PROFIT amp LOSS ACCOUNT (Cont)Details1048729 Manufacturing Companiesndash Raw materials under broad headsndash Goods purchased under broad heads1048729 Trading CompaniesGoods Purchased under broad heads1048729 Services CompaniesGross Income derived from services rendered or supplied under broad heads1048729 Combinations of aboveIf a company falls under more than one of the above categories then Purchasesales consumption of materials and gross income from services is shown in broadheads10487291048729 Any other CompanyGross income under broad heads1048729 Work in ProgressShould be stated under broad heads
DIGSTAR PROJECT LIMITED Subuddhipur Beltala Baruipur Kolkata 700 144
ParticularsNote No
Figures as at the end of current
reporting period 3132011
Figures as at the end of previous reporting period
3132010
I EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital ------------------------------------------ 1 6873900000 1804040000 (b) Reserves and Surplus (c) Money received against share warrants (2) Share application money pending allotment (3) Non-Current Liabilities (a) Long-term borrowings --------------------------------- 2 4405400 13400000 (b) Deferred tax liabilities (Net) (c) Other Long term liabilities (d) Long term provisions (4) Current Liabilities (a) Short-term borrowings -------------------------------- 3 2948015367 431921500 (b) Trade payables --------------------------------------- 4 235883182 (c) Other current liabilities -------------------------------- 5 392300651 3500000 (d) Short-term provisions
Total 10454504600 2252861500
IIAssets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets ------------------------------------ 6 1235993748 308154400
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories ------------------------------------------- 151587000 110216500 (c) Trade receivables ------------------------------------ 42015500 45169500
(d) Cash and cash equivalents ---------------------------- 7 427366354 193193900
(e) Short-term loans and advances ---------------------- 8 1343648800 425669000
(f) Other current assets ---------------------------------- 9 7253893198 1170458200
Total 10454504600 2252861500
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
ndash The Company does not have an unconditional right to defersettlement of the liability for at least twelve months after thereporting date Terms of liability that could at the option of thecounter party result in its settlement by the issue of equityinstruments do not affect the classification (Current Liabilities)
GENERAL INSTRUCTIONS (Cont) 1048729 ldquoOperating Cyclerdquo is the time between the acquisition of assets for processing and their realization in cash or cash equivalents Where the normal operating cycle cannot be identified it is assumed to have a duration of 12 months 10487291048729 ALL other Assets Liabilities are non‐current assets liabilities 1048729 A Receivable shall be classified as ldquoTRADE RECEIVABLErdquo if it is in respect of the amount due on account of GOODS SOLD or SERVICES RENDERED in the normal course of business 1048729 A Payable shall be classified as ldquoTRADE PAYABLErdquo if it is in respect of the amount due on account of GOODS PURCHASED or SERVICES RECEIVED in the normal course of business
GENERAL INSTRUCTIONS (Cont)TANGIBLE ASSETS1048729 Classificationo Lando Buildingo Plant and Equipmento Furniture and Fixtureso Vehicleso Office Equipmento Others (Specify)1048729 Assets under Lease shall be separately specified under each class of assets10487291048729 A reconciliation of the gross and net carrying amounts of each class of assets at thebeginning and end of the reporting period showing additions disposals acquisitions throughbusiness combinations and other adjustments and the related depreciation and impairmentlosses reversals shall be DISCLOSED SEPARATELY
1048729 Where sums have been written off on a Reduction of Capital or revaluation of assets orwhere sums have been added on revaluation of assets every balance sheet subsequent todate of such write‐off or addition shall show the reduced or increased figures as applicableand shall by way of a note also show the amount of the reduction or increase as applicabletogether with the date thereof for the FIRST FIVE YEARS subsequent to the date of suchreduction or increase
NON‐CURRENT INVESTMENTS1048729 Non‐current Investments shall be classified as TRADE INVESTMENTS and OTHERINVESTMENTS and further classified aso Investment in propertyo Equity shareso Preference shareso Government or trust securitieso Debentures or bondso Mutual Fundso Partnership firmso Other non‐current investments (specify)
NON‐CURRENT INVESTMENTS (Conthelliphellip)1048729 Under each classification details shall be given of NAMES of the BODIESCORPORATE indicating separately whether such bodies areo Subsidiarieso Associateso Joint Ventures oro Controlled Special purpose entities1048729 In whom investments have been made and the NATURE and EXTENT of theInvestments in each of such bodies corporate Partly paid should be shownseparately1048729 In case of PARTERSHIP FIRMSo Name of the Firm and the Name of all the partnerso Total capital ando Shares of each partners10487291048729 Investments carried at OTHER THAN at COST should be separately statedspecifying the basis for valuation thereof
GENERAL INSTRUCTIONS (Cont)INVENTORIESClassificationndash Raw materialndash Work in progressndash Finished goodsndash Stock in trade (for traded goods)ndash Stores and sparesndash Loose Toolsndash Others (Specify)1048729 Goods in Transit should be disclosed under relevant sub‐heads1048729 Mode of valuation shall be statedTRADE RECEIVABLES1048729 Outstanding for a period exceeding six months ldquofrom the date they are due forpaymentrdquo should be shown separatelyndash Sub‐classificationbull Secured considered goodbull Unsecured considered goodbull Doubtful
Amount Amount
Trade Receivables
Outstanding for more than six months
a)Secured Considered Good
XXXX
b)Unsecuredconsidered Good
XXXX
c)Doubtful XXXX XXXX
Other Trade Receivables
a)Secured Considered good
XXXX
b)UnsecuredConsidered Good
XXXX
c)Doubtful XXXX XXXX
PROFIT amp LOSS ACCOUNTREVENUEbull For Companies other than Finance Companiesndash Sale of productsndash Sale of servicesndash Other operating revenues andndash LESS Excise Dutybull For FINANCE COMPANIESndash Interest andndash Other Financial servicesbull REVENUE under EACH of the HEAD shall be disclosed by way of NOTES TOACCOUNTSFinance CostClassificationndash Interest expensendash Other borrowing costndash Applicable net gain loss on foreign exchange transactions and translation
PROFIT amp LOSS ACCOUNT (Cont)Details1048729 Manufacturing Companiesndash Raw materials under broad headsndash Goods purchased under broad heads1048729 Trading CompaniesGoods Purchased under broad heads1048729 Services CompaniesGross Income derived from services rendered or supplied under broad heads1048729 Combinations of aboveIf a company falls under more than one of the above categories then Purchasesales consumption of materials and gross income from services is shown in broadheads10487291048729 Any other CompanyGross income under broad heads1048729 Work in ProgressShould be stated under broad heads
DIGSTAR PROJECT LIMITED Subuddhipur Beltala Baruipur Kolkata 700 144
ParticularsNote No
Figures as at the end of current
reporting period 3132011
Figures as at the end of previous reporting period
3132010
I EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital ------------------------------------------ 1 6873900000 1804040000 (b) Reserves and Surplus (c) Money received against share warrants (2) Share application money pending allotment (3) Non-Current Liabilities (a) Long-term borrowings --------------------------------- 2 4405400 13400000 (b) Deferred tax liabilities (Net) (c) Other Long term liabilities (d) Long term provisions (4) Current Liabilities (a) Short-term borrowings -------------------------------- 3 2948015367 431921500 (b) Trade payables --------------------------------------- 4 235883182 (c) Other current liabilities -------------------------------- 5 392300651 3500000 (d) Short-term provisions
Total 10454504600 2252861500
IIAssets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets ------------------------------------ 6 1235993748 308154400
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories ------------------------------------------- 151587000 110216500 (c) Trade receivables ------------------------------------ 42015500 45169500
(d) Cash and cash equivalents ---------------------------- 7 427366354 193193900
(e) Short-term loans and advances ---------------------- 8 1343648800 425669000
(f) Other current assets ---------------------------------- 9 7253893198 1170458200
Total 10454504600 2252861500
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
GENERAL INSTRUCTIONS (Cont) 1048729 ldquoOperating Cyclerdquo is the time between the acquisition of assets for processing and their realization in cash or cash equivalents Where the normal operating cycle cannot be identified it is assumed to have a duration of 12 months 10487291048729 ALL other Assets Liabilities are non‐current assets liabilities 1048729 A Receivable shall be classified as ldquoTRADE RECEIVABLErdquo if it is in respect of the amount due on account of GOODS SOLD or SERVICES RENDERED in the normal course of business 1048729 A Payable shall be classified as ldquoTRADE PAYABLErdquo if it is in respect of the amount due on account of GOODS PURCHASED or SERVICES RECEIVED in the normal course of business
GENERAL INSTRUCTIONS (Cont)TANGIBLE ASSETS1048729 Classificationo Lando Buildingo Plant and Equipmento Furniture and Fixtureso Vehicleso Office Equipmento Others (Specify)1048729 Assets under Lease shall be separately specified under each class of assets10487291048729 A reconciliation of the gross and net carrying amounts of each class of assets at thebeginning and end of the reporting period showing additions disposals acquisitions throughbusiness combinations and other adjustments and the related depreciation and impairmentlosses reversals shall be DISCLOSED SEPARATELY
1048729 Where sums have been written off on a Reduction of Capital or revaluation of assets orwhere sums have been added on revaluation of assets every balance sheet subsequent todate of such write‐off or addition shall show the reduced or increased figures as applicableand shall by way of a note also show the amount of the reduction or increase as applicabletogether with the date thereof for the FIRST FIVE YEARS subsequent to the date of suchreduction or increase
NON‐CURRENT INVESTMENTS1048729 Non‐current Investments shall be classified as TRADE INVESTMENTS and OTHERINVESTMENTS and further classified aso Investment in propertyo Equity shareso Preference shareso Government or trust securitieso Debentures or bondso Mutual Fundso Partnership firmso Other non‐current investments (specify)
NON‐CURRENT INVESTMENTS (Conthelliphellip)1048729 Under each classification details shall be given of NAMES of the BODIESCORPORATE indicating separately whether such bodies areo Subsidiarieso Associateso Joint Ventures oro Controlled Special purpose entities1048729 In whom investments have been made and the NATURE and EXTENT of theInvestments in each of such bodies corporate Partly paid should be shownseparately1048729 In case of PARTERSHIP FIRMSo Name of the Firm and the Name of all the partnerso Total capital ando Shares of each partners10487291048729 Investments carried at OTHER THAN at COST should be separately statedspecifying the basis for valuation thereof
GENERAL INSTRUCTIONS (Cont)INVENTORIESClassificationndash Raw materialndash Work in progressndash Finished goodsndash Stock in trade (for traded goods)ndash Stores and sparesndash Loose Toolsndash Others (Specify)1048729 Goods in Transit should be disclosed under relevant sub‐heads1048729 Mode of valuation shall be statedTRADE RECEIVABLES1048729 Outstanding for a period exceeding six months ldquofrom the date they are due forpaymentrdquo should be shown separatelyndash Sub‐classificationbull Secured considered goodbull Unsecured considered goodbull Doubtful
Amount Amount
Trade Receivables
Outstanding for more than six months
a)Secured Considered Good
XXXX
b)Unsecuredconsidered Good
XXXX
c)Doubtful XXXX XXXX
Other Trade Receivables
a)Secured Considered good
XXXX
b)UnsecuredConsidered Good
XXXX
c)Doubtful XXXX XXXX
PROFIT amp LOSS ACCOUNTREVENUEbull For Companies other than Finance Companiesndash Sale of productsndash Sale of servicesndash Other operating revenues andndash LESS Excise Dutybull For FINANCE COMPANIESndash Interest andndash Other Financial servicesbull REVENUE under EACH of the HEAD shall be disclosed by way of NOTES TOACCOUNTSFinance CostClassificationndash Interest expensendash Other borrowing costndash Applicable net gain loss on foreign exchange transactions and translation
PROFIT amp LOSS ACCOUNT (Cont)Details1048729 Manufacturing Companiesndash Raw materials under broad headsndash Goods purchased under broad heads1048729 Trading CompaniesGoods Purchased under broad heads1048729 Services CompaniesGross Income derived from services rendered or supplied under broad heads1048729 Combinations of aboveIf a company falls under more than one of the above categories then Purchasesales consumption of materials and gross income from services is shown in broadheads10487291048729 Any other CompanyGross income under broad heads1048729 Work in ProgressShould be stated under broad heads
DIGSTAR PROJECT LIMITED Subuddhipur Beltala Baruipur Kolkata 700 144
ParticularsNote No
Figures as at the end of current
reporting period 3132011
Figures as at the end of previous reporting period
3132010
I EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital ------------------------------------------ 1 6873900000 1804040000 (b) Reserves and Surplus (c) Money received against share warrants (2) Share application money pending allotment (3) Non-Current Liabilities (a) Long-term borrowings --------------------------------- 2 4405400 13400000 (b) Deferred tax liabilities (Net) (c) Other Long term liabilities (d) Long term provisions (4) Current Liabilities (a) Short-term borrowings -------------------------------- 3 2948015367 431921500 (b) Trade payables --------------------------------------- 4 235883182 (c) Other current liabilities -------------------------------- 5 392300651 3500000 (d) Short-term provisions
Total 10454504600 2252861500
IIAssets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets ------------------------------------ 6 1235993748 308154400
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories ------------------------------------------- 151587000 110216500 (c) Trade receivables ------------------------------------ 42015500 45169500
(d) Cash and cash equivalents ---------------------------- 7 427366354 193193900
(e) Short-term loans and advances ---------------------- 8 1343648800 425669000
(f) Other current assets ---------------------------------- 9 7253893198 1170458200
Total 10454504600 2252861500
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
GENERAL INSTRUCTIONS (Cont)TANGIBLE ASSETS1048729 Classificationo Lando Buildingo Plant and Equipmento Furniture and Fixtureso Vehicleso Office Equipmento Others (Specify)1048729 Assets under Lease shall be separately specified under each class of assets10487291048729 A reconciliation of the gross and net carrying amounts of each class of assets at thebeginning and end of the reporting period showing additions disposals acquisitions throughbusiness combinations and other adjustments and the related depreciation and impairmentlosses reversals shall be DISCLOSED SEPARATELY
1048729 Where sums have been written off on a Reduction of Capital or revaluation of assets orwhere sums have been added on revaluation of assets every balance sheet subsequent todate of such write‐off or addition shall show the reduced or increased figures as applicableand shall by way of a note also show the amount of the reduction or increase as applicabletogether with the date thereof for the FIRST FIVE YEARS subsequent to the date of suchreduction or increase
NON‐CURRENT INVESTMENTS1048729 Non‐current Investments shall be classified as TRADE INVESTMENTS and OTHERINVESTMENTS and further classified aso Investment in propertyo Equity shareso Preference shareso Government or trust securitieso Debentures or bondso Mutual Fundso Partnership firmso Other non‐current investments (specify)
NON‐CURRENT INVESTMENTS (Conthelliphellip)1048729 Under each classification details shall be given of NAMES of the BODIESCORPORATE indicating separately whether such bodies areo Subsidiarieso Associateso Joint Ventures oro Controlled Special purpose entities1048729 In whom investments have been made and the NATURE and EXTENT of theInvestments in each of such bodies corporate Partly paid should be shownseparately1048729 In case of PARTERSHIP FIRMSo Name of the Firm and the Name of all the partnerso Total capital ando Shares of each partners10487291048729 Investments carried at OTHER THAN at COST should be separately statedspecifying the basis for valuation thereof
GENERAL INSTRUCTIONS (Cont)INVENTORIESClassificationndash Raw materialndash Work in progressndash Finished goodsndash Stock in trade (for traded goods)ndash Stores and sparesndash Loose Toolsndash Others (Specify)1048729 Goods in Transit should be disclosed under relevant sub‐heads1048729 Mode of valuation shall be statedTRADE RECEIVABLES1048729 Outstanding for a period exceeding six months ldquofrom the date they are due forpaymentrdquo should be shown separatelyndash Sub‐classificationbull Secured considered goodbull Unsecured considered goodbull Doubtful
Amount Amount
Trade Receivables
Outstanding for more than six months
a)Secured Considered Good
XXXX
b)Unsecuredconsidered Good
XXXX
c)Doubtful XXXX XXXX
Other Trade Receivables
a)Secured Considered good
XXXX
b)UnsecuredConsidered Good
XXXX
c)Doubtful XXXX XXXX
PROFIT amp LOSS ACCOUNTREVENUEbull For Companies other than Finance Companiesndash Sale of productsndash Sale of servicesndash Other operating revenues andndash LESS Excise Dutybull For FINANCE COMPANIESndash Interest andndash Other Financial servicesbull REVENUE under EACH of the HEAD shall be disclosed by way of NOTES TOACCOUNTSFinance CostClassificationndash Interest expensendash Other borrowing costndash Applicable net gain loss on foreign exchange transactions and translation
PROFIT amp LOSS ACCOUNT (Cont)Details1048729 Manufacturing Companiesndash Raw materials under broad headsndash Goods purchased under broad heads1048729 Trading CompaniesGoods Purchased under broad heads1048729 Services CompaniesGross Income derived from services rendered or supplied under broad heads1048729 Combinations of aboveIf a company falls under more than one of the above categories then Purchasesales consumption of materials and gross income from services is shown in broadheads10487291048729 Any other CompanyGross income under broad heads1048729 Work in ProgressShould be stated under broad heads
DIGSTAR PROJECT LIMITED Subuddhipur Beltala Baruipur Kolkata 700 144
ParticularsNote No
Figures as at the end of current
reporting period 3132011
Figures as at the end of previous reporting period
3132010
I EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital ------------------------------------------ 1 6873900000 1804040000 (b) Reserves and Surplus (c) Money received against share warrants (2) Share application money pending allotment (3) Non-Current Liabilities (a) Long-term borrowings --------------------------------- 2 4405400 13400000 (b) Deferred tax liabilities (Net) (c) Other Long term liabilities (d) Long term provisions (4) Current Liabilities (a) Short-term borrowings -------------------------------- 3 2948015367 431921500 (b) Trade payables --------------------------------------- 4 235883182 (c) Other current liabilities -------------------------------- 5 392300651 3500000 (d) Short-term provisions
Total 10454504600 2252861500
IIAssets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets ------------------------------------ 6 1235993748 308154400
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories ------------------------------------------- 151587000 110216500 (c) Trade receivables ------------------------------------ 42015500 45169500
(d) Cash and cash equivalents ---------------------------- 7 427366354 193193900
(e) Short-term loans and advances ---------------------- 8 1343648800 425669000
(f) Other current assets ---------------------------------- 9 7253893198 1170458200
Total 10454504600 2252861500
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
1048729 Where sums have been written off on a Reduction of Capital or revaluation of assets orwhere sums have been added on revaluation of assets every balance sheet subsequent todate of such write‐off or addition shall show the reduced or increased figures as applicableand shall by way of a note also show the amount of the reduction or increase as applicabletogether with the date thereof for the FIRST FIVE YEARS subsequent to the date of suchreduction or increase
NON‐CURRENT INVESTMENTS1048729 Non‐current Investments shall be classified as TRADE INVESTMENTS and OTHERINVESTMENTS and further classified aso Investment in propertyo Equity shareso Preference shareso Government or trust securitieso Debentures or bondso Mutual Fundso Partnership firmso Other non‐current investments (specify)
NON‐CURRENT INVESTMENTS (Conthelliphellip)1048729 Under each classification details shall be given of NAMES of the BODIESCORPORATE indicating separately whether such bodies areo Subsidiarieso Associateso Joint Ventures oro Controlled Special purpose entities1048729 In whom investments have been made and the NATURE and EXTENT of theInvestments in each of such bodies corporate Partly paid should be shownseparately1048729 In case of PARTERSHIP FIRMSo Name of the Firm and the Name of all the partnerso Total capital ando Shares of each partners10487291048729 Investments carried at OTHER THAN at COST should be separately statedspecifying the basis for valuation thereof
GENERAL INSTRUCTIONS (Cont)INVENTORIESClassificationndash Raw materialndash Work in progressndash Finished goodsndash Stock in trade (for traded goods)ndash Stores and sparesndash Loose Toolsndash Others (Specify)1048729 Goods in Transit should be disclosed under relevant sub‐heads1048729 Mode of valuation shall be statedTRADE RECEIVABLES1048729 Outstanding for a period exceeding six months ldquofrom the date they are due forpaymentrdquo should be shown separatelyndash Sub‐classificationbull Secured considered goodbull Unsecured considered goodbull Doubtful
Amount Amount
Trade Receivables
Outstanding for more than six months
a)Secured Considered Good
XXXX
b)Unsecuredconsidered Good
XXXX
c)Doubtful XXXX XXXX
Other Trade Receivables
a)Secured Considered good
XXXX
b)UnsecuredConsidered Good
XXXX
c)Doubtful XXXX XXXX
PROFIT amp LOSS ACCOUNTREVENUEbull For Companies other than Finance Companiesndash Sale of productsndash Sale of servicesndash Other operating revenues andndash LESS Excise Dutybull For FINANCE COMPANIESndash Interest andndash Other Financial servicesbull REVENUE under EACH of the HEAD shall be disclosed by way of NOTES TOACCOUNTSFinance CostClassificationndash Interest expensendash Other borrowing costndash Applicable net gain loss on foreign exchange transactions and translation
PROFIT amp LOSS ACCOUNT (Cont)Details1048729 Manufacturing Companiesndash Raw materials under broad headsndash Goods purchased under broad heads1048729 Trading CompaniesGoods Purchased under broad heads1048729 Services CompaniesGross Income derived from services rendered or supplied under broad heads1048729 Combinations of aboveIf a company falls under more than one of the above categories then Purchasesales consumption of materials and gross income from services is shown in broadheads10487291048729 Any other CompanyGross income under broad heads1048729 Work in ProgressShould be stated under broad heads
DIGSTAR PROJECT LIMITED Subuddhipur Beltala Baruipur Kolkata 700 144
ParticularsNote No
Figures as at the end of current
reporting period 3132011
Figures as at the end of previous reporting period
3132010
I EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital ------------------------------------------ 1 6873900000 1804040000 (b) Reserves and Surplus (c) Money received against share warrants (2) Share application money pending allotment (3) Non-Current Liabilities (a) Long-term borrowings --------------------------------- 2 4405400 13400000 (b) Deferred tax liabilities (Net) (c) Other Long term liabilities (d) Long term provisions (4) Current Liabilities (a) Short-term borrowings -------------------------------- 3 2948015367 431921500 (b) Trade payables --------------------------------------- 4 235883182 (c) Other current liabilities -------------------------------- 5 392300651 3500000 (d) Short-term provisions
Total 10454504600 2252861500
IIAssets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets ------------------------------------ 6 1235993748 308154400
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories ------------------------------------------- 151587000 110216500 (c) Trade receivables ------------------------------------ 42015500 45169500
(d) Cash and cash equivalents ---------------------------- 7 427366354 193193900
(e) Short-term loans and advances ---------------------- 8 1343648800 425669000
(f) Other current assets ---------------------------------- 9 7253893198 1170458200
Total 10454504600 2252861500
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
NON‐CURRENT INVESTMENTS1048729 Non‐current Investments shall be classified as TRADE INVESTMENTS and OTHERINVESTMENTS and further classified aso Investment in propertyo Equity shareso Preference shareso Government or trust securitieso Debentures or bondso Mutual Fundso Partnership firmso Other non‐current investments (specify)
NON‐CURRENT INVESTMENTS (Conthelliphellip)1048729 Under each classification details shall be given of NAMES of the BODIESCORPORATE indicating separately whether such bodies areo Subsidiarieso Associateso Joint Ventures oro Controlled Special purpose entities1048729 In whom investments have been made and the NATURE and EXTENT of theInvestments in each of such bodies corporate Partly paid should be shownseparately1048729 In case of PARTERSHIP FIRMSo Name of the Firm and the Name of all the partnerso Total capital ando Shares of each partners10487291048729 Investments carried at OTHER THAN at COST should be separately statedspecifying the basis for valuation thereof
GENERAL INSTRUCTIONS (Cont)INVENTORIESClassificationndash Raw materialndash Work in progressndash Finished goodsndash Stock in trade (for traded goods)ndash Stores and sparesndash Loose Toolsndash Others (Specify)1048729 Goods in Transit should be disclosed under relevant sub‐heads1048729 Mode of valuation shall be statedTRADE RECEIVABLES1048729 Outstanding for a period exceeding six months ldquofrom the date they are due forpaymentrdquo should be shown separatelyndash Sub‐classificationbull Secured considered goodbull Unsecured considered goodbull Doubtful
Amount Amount
Trade Receivables
Outstanding for more than six months
a)Secured Considered Good
XXXX
b)Unsecuredconsidered Good
XXXX
c)Doubtful XXXX XXXX
Other Trade Receivables
a)Secured Considered good
XXXX
b)UnsecuredConsidered Good
XXXX
c)Doubtful XXXX XXXX
PROFIT amp LOSS ACCOUNTREVENUEbull For Companies other than Finance Companiesndash Sale of productsndash Sale of servicesndash Other operating revenues andndash LESS Excise Dutybull For FINANCE COMPANIESndash Interest andndash Other Financial servicesbull REVENUE under EACH of the HEAD shall be disclosed by way of NOTES TOACCOUNTSFinance CostClassificationndash Interest expensendash Other borrowing costndash Applicable net gain loss on foreign exchange transactions and translation
PROFIT amp LOSS ACCOUNT (Cont)Details1048729 Manufacturing Companiesndash Raw materials under broad headsndash Goods purchased under broad heads1048729 Trading CompaniesGoods Purchased under broad heads1048729 Services CompaniesGross Income derived from services rendered or supplied under broad heads1048729 Combinations of aboveIf a company falls under more than one of the above categories then Purchasesales consumption of materials and gross income from services is shown in broadheads10487291048729 Any other CompanyGross income under broad heads1048729 Work in ProgressShould be stated under broad heads
DIGSTAR PROJECT LIMITED Subuddhipur Beltala Baruipur Kolkata 700 144
ParticularsNote No
Figures as at the end of current
reporting period 3132011
Figures as at the end of previous reporting period
3132010
I EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital ------------------------------------------ 1 6873900000 1804040000 (b) Reserves and Surplus (c) Money received against share warrants (2) Share application money pending allotment (3) Non-Current Liabilities (a) Long-term borrowings --------------------------------- 2 4405400 13400000 (b) Deferred tax liabilities (Net) (c) Other Long term liabilities (d) Long term provisions (4) Current Liabilities (a) Short-term borrowings -------------------------------- 3 2948015367 431921500 (b) Trade payables --------------------------------------- 4 235883182 (c) Other current liabilities -------------------------------- 5 392300651 3500000 (d) Short-term provisions
Total 10454504600 2252861500
IIAssets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets ------------------------------------ 6 1235993748 308154400
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories ------------------------------------------- 151587000 110216500 (c) Trade receivables ------------------------------------ 42015500 45169500
(d) Cash and cash equivalents ---------------------------- 7 427366354 193193900
(e) Short-term loans and advances ---------------------- 8 1343648800 425669000
(f) Other current assets ---------------------------------- 9 7253893198 1170458200
Total 10454504600 2252861500
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
NON‐CURRENT INVESTMENTS (Conthelliphellip)1048729 Under each classification details shall be given of NAMES of the BODIESCORPORATE indicating separately whether such bodies areo Subsidiarieso Associateso Joint Ventures oro Controlled Special purpose entities1048729 In whom investments have been made and the NATURE and EXTENT of theInvestments in each of such bodies corporate Partly paid should be shownseparately1048729 In case of PARTERSHIP FIRMSo Name of the Firm and the Name of all the partnerso Total capital ando Shares of each partners10487291048729 Investments carried at OTHER THAN at COST should be separately statedspecifying the basis for valuation thereof
GENERAL INSTRUCTIONS (Cont)INVENTORIESClassificationndash Raw materialndash Work in progressndash Finished goodsndash Stock in trade (for traded goods)ndash Stores and sparesndash Loose Toolsndash Others (Specify)1048729 Goods in Transit should be disclosed under relevant sub‐heads1048729 Mode of valuation shall be statedTRADE RECEIVABLES1048729 Outstanding for a period exceeding six months ldquofrom the date they are due forpaymentrdquo should be shown separatelyndash Sub‐classificationbull Secured considered goodbull Unsecured considered goodbull Doubtful
Amount Amount
Trade Receivables
Outstanding for more than six months
a)Secured Considered Good
XXXX
b)Unsecuredconsidered Good
XXXX
c)Doubtful XXXX XXXX
Other Trade Receivables
a)Secured Considered good
XXXX
b)UnsecuredConsidered Good
XXXX
c)Doubtful XXXX XXXX
PROFIT amp LOSS ACCOUNTREVENUEbull For Companies other than Finance Companiesndash Sale of productsndash Sale of servicesndash Other operating revenues andndash LESS Excise Dutybull For FINANCE COMPANIESndash Interest andndash Other Financial servicesbull REVENUE under EACH of the HEAD shall be disclosed by way of NOTES TOACCOUNTSFinance CostClassificationndash Interest expensendash Other borrowing costndash Applicable net gain loss on foreign exchange transactions and translation
PROFIT amp LOSS ACCOUNT (Cont)Details1048729 Manufacturing Companiesndash Raw materials under broad headsndash Goods purchased under broad heads1048729 Trading CompaniesGoods Purchased under broad heads1048729 Services CompaniesGross Income derived from services rendered or supplied under broad heads1048729 Combinations of aboveIf a company falls under more than one of the above categories then Purchasesales consumption of materials and gross income from services is shown in broadheads10487291048729 Any other CompanyGross income under broad heads1048729 Work in ProgressShould be stated under broad heads
DIGSTAR PROJECT LIMITED Subuddhipur Beltala Baruipur Kolkata 700 144
ParticularsNote No
Figures as at the end of current
reporting period 3132011
Figures as at the end of previous reporting period
3132010
I EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital ------------------------------------------ 1 6873900000 1804040000 (b) Reserves and Surplus (c) Money received against share warrants (2) Share application money pending allotment (3) Non-Current Liabilities (a) Long-term borrowings --------------------------------- 2 4405400 13400000 (b) Deferred tax liabilities (Net) (c) Other Long term liabilities (d) Long term provisions (4) Current Liabilities (a) Short-term borrowings -------------------------------- 3 2948015367 431921500 (b) Trade payables --------------------------------------- 4 235883182 (c) Other current liabilities -------------------------------- 5 392300651 3500000 (d) Short-term provisions
Total 10454504600 2252861500
IIAssets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets ------------------------------------ 6 1235993748 308154400
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories ------------------------------------------- 151587000 110216500 (c) Trade receivables ------------------------------------ 42015500 45169500
(d) Cash and cash equivalents ---------------------------- 7 427366354 193193900
(e) Short-term loans and advances ---------------------- 8 1343648800 425669000
(f) Other current assets ---------------------------------- 9 7253893198 1170458200
Total 10454504600 2252861500
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
GENERAL INSTRUCTIONS (Cont)INVENTORIESClassificationndash Raw materialndash Work in progressndash Finished goodsndash Stock in trade (for traded goods)ndash Stores and sparesndash Loose Toolsndash Others (Specify)1048729 Goods in Transit should be disclosed under relevant sub‐heads1048729 Mode of valuation shall be statedTRADE RECEIVABLES1048729 Outstanding for a period exceeding six months ldquofrom the date they are due forpaymentrdquo should be shown separatelyndash Sub‐classificationbull Secured considered goodbull Unsecured considered goodbull Doubtful
Amount Amount
Trade Receivables
Outstanding for more than six months
a)Secured Considered Good
XXXX
b)Unsecuredconsidered Good
XXXX
c)Doubtful XXXX XXXX
Other Trade Receivables
a)Secured Considered good
XXXX
b)UnsecuredConsidered Good
XXXX
c)Doubtful XXXX XXXX
PROFIT amp LOSS ACCOUNTREVENUEbull For Companies other than Finance Companiesndash Sale of productsndash Sale of servicesndash Other operating revenues andndash LESS Excise Dutybull For FINANCE COMPANIESndash Interest andndash Other Financial servicesbull REVENUE under EACH of the HEAD shall be disclosed by way of NOTES TOACCOUNTSFinance CostClassificationndash Interest expensendash Other borrowing costndash Applicable net gain loss on foreign exchange transactions and translation
PROFIT amp LOSS ACCOUNT (Cont)Details1048729 Manufacturing Companiesndash Raw materials under broad headsndash Goods purchased under broad heads1048729 Trading CompaniesGoods Purchased under broad heads1048729 Services CompaniesGross Income derived from services rendered or supplied under broad heads1048729 Combinations of aboveIf a company falls under more than one of the above categories then Purchasesales consumption of materials and gross income from services is shown in broadheads10487291048729 Any other CompanyGross income under broad heads1048729 Work in ProgressShould be stated under broad heads
DIGSTAR PROJECT LIMITED Subuddhipur Beltala Baruipur Kolkata 700 144
ParticularsNote No
Figures as at the end of current
reporting period 3132011
Figures as at the end of previous reporting period
3132010
I EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital ------------------------------------------ 1 6873900000 1804040000 (b) Reserves and Surplus (c) Money received against share warrants (2) Share application money pending allotment (3) Non-Current Liabilities (a) Long-term borrowings --------------------------------- 2 4405400 13400000 (b) Deferred tax liabilities (Net) (c) Other Long term liabilities (d) Long term provisions (4) Current Liabilities (a) Short-term borrowings -------------------------------- 3 2948015367 431921500 (b) Trade payables --------------------------------------- 4 235883182 (c) Other current liabilities -------------------------------- 5 392300651 3500000 (d) Short-term provisions
Total 10454504600 2252861500
IIAssets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets ------------------------------------ 6 1235993748 308154400
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories ------------------------------------------- 151587000 110216500 (c) Trade receivables ------------------------------------ 42015500 45169500
(d) Cash and cash equivalents ---------------------------- 7 427366354 193193900
(e) Short-term loans and advances ---------------------- 8 1343648800 425669000
(f) Other current assets ---------------------------------- 9 7253893198 1170458200
Total 10454504600 2252861500
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
Amount Amount
Trade Receivables
Outstanding for more than six months
a)Secured Considered Good
XXXX
b)Unsecuredconsidered Good
XXXX
c)Doubtful XXXX XXXX
Other Trade Receivables
a)Secured Considered good
XXXX
b)UnsecuredConsidered Good
XXXX
c)Doubtful XXXX XXXX
PROFIT amp LOSS ACCOUNTREVENUEbull For Companies other than Finance Companiesndash Sale of productsndash Sale of servicesndash Other operating revenues andndash LESS Excise Dutybull For FINANCE COMPANIESndash Interest andndash Other Financial servicesbull REVENUE under EACH of the HEAD shall be disclosed by way of NOTES TOACCOUNTSFinance CostClassificationndash Interest expensendash Other borrowing costndash Applicable net gain loss on foreign exchange transactions and translation
PROFIT amp LOSS ACCOUNT (Cont)Details1048729 Manufacturing Companiesndash Raw materials under broad headsndash Goods purchased under broad heads1048729 Trading CompaniesGoods Purchased under broad heads1048729 Services CompaniesGross Income derived from services rendered or supplied under broad heads1048729 Combinations of aboveIf a company falls under more than one of the above categories then Purchasesales consumption of materials and gross income from services is shown in broadheads10487291048729 Any other CompanyGross income under broad heads1048729 Work in ProgressShould be stated under broad heads
DIGSTAR PROJECT LIMITED Subuddhipur Beltala Baruipur Kolkata 700 144
ParticularsNote No
Figures as at the end of current
reporting period 3132011
Figures as at the end of previous reporting period
3132010
I EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital ------------------------------------------ 1 6873900000 1804040000 (b) Reserves and Surplus (c) Money received against share warrants (2) Share application money pending allotment (3) Non-Current Liabilities (a) Long-term borrowings --------------------------------- 2 4405400 13400000 (b) Deferred tax liabilities (Net) (c) Other Long term liabilities (d) Long term provisions (4) Current Liabilities (a) Short-term borrowings -------------------------------- 3 2948015367 431921500 (b) Trade payables --------------------------------------- 4 235883182 (c) Other current liabilities -------------------------------- 5 392300651 3500000 (d) Short-term provisions
Total 10454504600 2252861500
IIAssets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets ------------------------------------ 6 1235993748 308154400
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories ------------------------------------------- 151587000 110216500 (c) Trade receivables ------------------------------------ 42015500 45169500
(d) Cash and cash equivalents ---------------------------- 7 427366354 193193900
(e) Short-term loans and advances ---------------------- 8 1343648800 425669000
(f) Other current assets ---------------------------------- 9 7253893198 1170458200
Total 10454504600 2252861500
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
PROFIT amp LOSS ACCOUNTREVENUEbull For Companies other than Finance Companiesndash Sale of productsndash Sale of servicesndash Other operating revenues andndash LESS Excise Dutybull For FINANCE COMPANIESndash Interest andndash Other Financial servicesbull REVENUE under EACH of the HEAD shall be disclosed by way of NOTES TOACCOUNTSFinance CostClassificationndash Interest expensendash Other borrowing costndash Applicable net gain loss on foreign exchange transactions and translation
PROFIT amp LOSS ACCOUNT (Cont)Details1048729 Manufacturing Companiesndash Raw materials under broad headsndash Goods purchased under broad heads1048729 Trading CompaniesGoods Purchased under broad heads1048729 Services CompaniesGross Income derived from services rendered or supplied under broad heads1048729 Combinations of aboveIf a company falls under more than one of the above categories then Purchasesales consumption of materials and gross income from services is shown in broadheads10487291048729 Any other CompanyGross income under broad heads1048729 Work in ProgressShould be stated under broad heads
DIGSTAR PROJECT LIMITED Subuddhipur Beltala Baruipur Kolkata 700 144
ParticularsNote No
Figures as at the end of current
reporting period 3132011
Figures as at the end of previous reporting period
3132010
I EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital ------------------------------------------ 1 6873900000 1804040000 (b) Reserves and Surplus (c) Money received against share warrants (2) Share application money pending allotment (3) Non-Current Liabilities (a) Long-term borrowings --------------------------------- 2 4405400 13400000 (b) Deferred tax liabilities (Net) (c) Other Long term liabilities (d) Long term provisions (4) Current Liabilities (a) Short-term borrowings -------------------------------- 3 2948015367 431921500 (b) Trade payables --------------------------------------- 4 235883182 (c) Other current liabilities -------------------------------- 5 392300651 3500000 (d) Short-term provisions
Total 10454504600 2252861500
IIAssets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets ------------------------------------ 6 1235993748 308154400
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories ------------------------------------------- 151587000 110216500 (c) Trade receivables ------------------------------------ 42015500 45169500
(d) Cash and cash equivalents ---------------------------- 7 427366354 193193900
(e) Short-term loans and advances ---------------------- 8 1343648800 425669000
(f) Other current assets ---------------------------------- 9 7253893198 1170458200
Total 10454504600 2252861500
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
PROFIT amp LOSS ACCOUNT (Cont)Details1048729 Manufacturing Companiesndash Raw materials under broad headsndash Goods purchased under broad heads1048729 Trading CompaniesGoods Purchased under broad heads1048729 Services CompaniesGross Income derived from services rendered or supplied under broad heads1048729 Combinations of aboveIf a company falls under more than one of the above categories then Purchasesales consumption of materials and gross income from services is shown in broadheads10487291048729 Any other CompanyGross income under broad heads1048729 Work in ProgressShould be stated under broad heads
DIGSTAR PROJECT LIMITED Subuddhipur Beltala Baruipur Kolkata 700 144
ParticularsNote No
Figures as at the end of current
reporting period 3132011
Figures as at the end of previous reporting period
3132010
I EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital ------------------------------------------ 1 6873900000 1804040000 (b) Reserves and Surplus (c) Money received against share warrants (2) Share application money pending allotment (3) Non-Current Liabilities (a) Long-term borrowings --------------------------------- 2 4405400 13400000 (b) Deferred tax liabilities (Net) (c) Other Long term liabilities (d) Long term provisions (4) Current Liabilities (a) Short-term borrowings -------------------------------- 3 2948015367 431921500 (b) Trade payables --------------------------------------- 4 235883182 (c) Other current liabilities -------------------------------- 5 392300651 3500000 (d) Short-term provisions
Total 10454504600 2252861500
IIAssets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets ------------------------------------ 6 1235993748 308154400
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories ------------------------------------------- 151587000 110216500 (c) Trade receivables ------------------------------------ 42015500 45169500
(d) Cash and cash equivalents ---------------------------- 7 427366354 193193900
(e) Short-term loans and advances ---------------------- 8 1343648800 425669000
(f) Other current assets ---------------------------------- 9 7253893198 1170458200
Total 10454504600 2252861500
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
DIGSTAR PROJECT LIMITED Subuddhipur Beltala Baruipur Kolkata 700 144
ParticularsNote No
Figures as at the end of current
reporting period 3132011
Figures as at the end of previous reporting period
3132010
I EQUITY AND LIABILITIES (1) Shareholders Funds (a) Share Capital ------------------------------------------ 1 6873900000 1804040000 (b) Reserves and Surplus (c) Money received against share warrants (2) Share application money pending allotment (3) Non-Current Liabilities (a) Long-term borrowings --------------------------------- 2 4405400 13400000 (b) Deferred tax liabilities (Net) (c) Other Long term liabilities (d) Long term provisions (4) Current Liabilities (a) Short-term borrowings -------------------------------- 3 2948015367 431921500 (b) Trade payables --------------------------------------- 4 235883182 (c) Other current liabilities -------------------------------- 5 392300651 3500000 (d) Short-term provisions
Total 10454504600 2252861500
IIAssets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets ------------------------------------ 6 1235993748 308154400
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories ------------------------------------------- 151587000 110216500 (c) Trade receivables ------------------------------------ 42015500 45169500
(d) Cash and cash equivalents ---------------------------- 7 427366354 193193900
(e) Short-term loans and advances ---------------------- 8 1343648800 425669000
(f) Other current assets ---------------------------------- 9 7253893198 1170458200
Total 10454504600 2252861500
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
IIAssets
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets ------------------------------------ 6 1235993748 308154400
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current assets
(a) Current investments
(b) Inventories ------------------------------------------- 151587000 110216500 (c) Trade receivables ------------------------------------ 42015500 45169500
(d) Cash and cash equivalents ---------------------------- 7 427366354 193193900
(e) Short-term loans and advances ---------------------- 8 1343648800 425669000
(f) Other current assets ---------------------------------- 9 7253893198 1170458200
Total 10454504600 2252861500
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
DIGSTAR PROJECT LIMITED
Subuddhipur Beltala Baruipur
Kolkata 700 144
Profit and Loss statement for the year ended 31st March 2011
ParticularsNote No
Figures as at the end of current
reporting period
Figures as at the end of previous
reporting period
I Revenue from operations -------------------------------- 60526800 75889000
II Other Income ----------------------------------------- 14 51081502
III Total Revenue (I +II) 111608302 75889000
IV Expenses
Cost of materials consumed -------------------------------- 68101500 181942400
Purchase of Stock-in-Trade
Changes in inventories of finished goods work-in-progress and Stock-in-Trade ---------------------
(41370500) (110216500)
Employee benefit expense --------------------------------- 10 358526593
Financial costs ------------------------------------------- 11 4165864
Depreciation and amortization expense --------------------- 12 3809930705 425595700
Other expenses ------------------------------------------ 13 1995689138 664435900
Total Expenses 6195043300 1161757500
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
V Profit before exceptional and extraordinary items and tax (III - IV) (6083434998) (1085868500) VI Exceptional Items
VII Profit before extraordinary items and tax (V - VI) (6083434998) (1085868500) VIII Extraordinary Items
IX Profit before tax (VII - VIII) (6083434998) (1085868500)
X Tax expense (1) Current tax (2) Deferred tax XI Profit(Loss) from the perid from continuing operations (VII-VIII) (6083434998) (1085868500) XII Profit(Loss) from discontinuing operations XIII Tax expense of discounting operations XIV Profit(Loss) from Discontinuing operations (XII - XIII)
XV Profit(Loss) for the period (XI + XIV) (6083434998) (1085868500)
XVI Earning per equity share (1) Basic (2) Diluted
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
ConclusionThe current ratio of the company was 44 in
2010 It indicates that current assets are four time than current liabilities
In 2011 the current ratio was 257Current ratio is more than 2It means ability to repay short term commitments promptly
Debt equity ratio of the company was 0018 in 2010 and 0005 in 2011
Ideal ratio of debt equity ratio is 2 1But companyrsquos ratio is not ideal I think company will not reach at ideal ratio 2 1 in 2012
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
Conclusion(cont)Debtors Turn over ratio of the company was
16 in 2010 and 144 in 2011It indicates the speed of
collection of sales Here it indicates the speed of collection of credit sales
The company is going in loss The company established few engineering colleges For the establishment of college most of the fund is invested in fixed assets So cash inflow is expected in future periods
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
1Accounting ConventionldquoThe Financial Statement are prepared under the historical cost convention in accordance with applicable Accounting standards as specified under section 211(3C) of the Companies Act 1956 as opted by the Company All Income amp Expenditure having material bearing on the Financial Statement is accounted for on accrual basis and provision is made for all known losses and liabilitiesrdquo
2Fixed Assets amp DepreciationAll fixed Assets are stated at cost of acquisition less depreciation and impairment loss Depreciation on Fixed Assets is provided on Written down value method based on estimated useful lives as estimated by the management
3InvestmentsLong term investments are carried at cost and provision is made to recognize any decline other than temporary in the carrying value of the investments Current investments are stated at lower of cost and net realizable value
1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
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1Revenue Recognition1 Income from services is included in turnover when the contractual commitment to the customer has been fulfilled2 Interest Income is booked on time proportion basis taking into account the amounts invested and rate of interest3 Dividend income on investments is accounted for when the right to receive the payment is established
2Employee Benefits1 Short term employee benefits are recognized as an expense at the undiscounted amount in the Statement of profit amp loss of the year in which the related services are rendered
3Income Taxes Income taxes are accrued in the same period in which the related revenue and expenses arise The Differences that result between the taxable profit and the profit as per the financial statements are Identified and there after deferred tax assets or deferred tax liabilities are recorded as timing diff erences that originate in one accounting period and reserve in another based on the tax affect of the aggregate amount being considered The tax affect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted regulations Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future Such assets are reviewed at each balance sheet date for reliability
4Provisions Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation in measurement are recognized when there isPresent obligation as a result of past events and it is probable that there will be an outflow of resources contingent Liabilities are not recognized but are disclosed in the Notes Contingent AssetsAre neither recognized nor disclosed in Financial Statesments
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
-
- Revised Schedule VI
- Introduction
- Slide 3
- Slide 4
- Slide 5
- Slide 6
- Slide 7
- GENERAL INSTRUCTIONS (Cont)
- Slide 9
- Slide 10
- Slide 11
- Slide 12
- Slide 13
- Slide 14
- Slide 15
- Slide 16
- Slide 17
- Slide 18
- Slide 19
- Slide 20
- Slide 21
- Conclusion
- Conclusion(cont)
- Slide 24
- Slide 25
- Slide 26
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