| 1. CORPORATE INFORMATION
FMEC International Financial Services Limited (the company) is a
Limited company domiciled in India and incorporated under provision of
Companies Act, 1956 as on 7th June 1993 and is Holding of YDS
Securities Private Limited. The company is engaged in the business of
Financing and providing Consultancy.
2. BASIS OF PREPARATION OF ACCOUNTS
The financial statements are prepared in accordance with Indian
Generally Accepted Accounting Principles ("GAAP") under the historical
cost convention on the accrual basis. GAAP comprises mandatory
accounting standards as specified under Section 133 of the Companies
Act 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014. The
Financial Statements has been prepared on the accrual basis and under
the historical cost convention. The Management evaluates all recently
issued or revised accounting standards on an on-going basis.
The Accounting policies adopted in the preparation of financial
statements are consistent with those of previous year, except for the
change in accounting policy explained below.
3. EARNING PER SHARE
Basic earnings per share is calculated in accordance with the
provisions of Accounting Standard-20 "Earnings per Share" are given
hereunder:
4. RELATED PARTY DISCLOSURE
I. NAMES OF RELATED PARTIES:
a. The company is Holding of YDS Securities Pvt. Ltd
b. Key Management Personnel:
Name Designation
Mr. Bimal Aggarwal Managing Director
5. Segment information for the year ended 31st March, 2015 as per
accounting standard issued by the institute of Chartered Accountants of
India are as under. Previous years figures are indicated in brackets.
Assets used in the company's business or liabilities contracted have i
at been identified to any of the reportable segment as all the assets
and services are used interchangeably between segments. The company
believes that it is currently not practicable to provide segment
disclosure relating to total assets and liabilities since a meaningful
segregation of available data is onerous.
6. In the opinion of the directors, current assets and advances have a
value on realization in the ordinary course of the business at least
equal to the amount at which these have been stated in the Balance
Sheet.
7. Balances of Sundry Creditors/Debtors are subject to
confirmation/reconciliation, which in the opinion of themanagement is
not significant, adjustments, if any will be carried out as and when
settled. However accounts have been reconciled on the basis of
materiality.
8. The company is a small and medium sized company as defined in the
General Instruction in respect of Accounting Standard notified under
the Companies Act, 1956. Accordingly, the Company has complied with the
Accounting Standard as applicable to small and Medium Sized Company.
9. There is no contingent liability as Certified by the management of
the company.
10. All the known liabilities have been provided for and there are no
disputed liabilities asconfirmed by themanagement of the company
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