| 1 Corporate Information
JAYATMA SPINNERS LIMITED is a public limited company domicile in India
and incorporated under the provision of the Companies Act, 1956. The
Company's main operation is trading activity and lease and license fees
and has revenue from other operations such as Warehouse Charges,
interest and dividend income.
2.c. During the year 2284000 Equity Shares of Rs. 10 each are issued at
Rs.18 with Rs.8/- per share Security Premium. On receipt of the full
consideration value,allotment of 2284000 equity shares were made and
equity shares were issued at Rs.10/- each with Security Premium of
Rs.8/- each.
d. The offer was made preferential to the Promoters and from the
public.
e. The Equity Shares so alloted shall rank pari passu in all respects
with the existing shares of the Company and elligible for dividend, if
any declared by the Company from time to time.
f. Money received towards Equity Shares are under process of
utilisation for various projects of the Company.
g. Terms/rights attached to the equity shares :
* The Company has issued only one class of shares referred to as equity
shares having a par value of Rs.10/-. Each holder of equity share is
entitled to one vote per share.
h. In the event of liquidation, the Equity Share holders are eligible
to receive the remaining Assets of the Company after distribution of
all statutory amount, in proportion to their share holding.
i. Company has not alloted any bonus shares, shares without
consideration in cash and/or bought back any equity shares during the
period of last five years.
3. : Additional Information pursuant to Schedule III to the
Companies Act, 2013 is given as under so far as applicable to the
Company.
A. Contingent Liability
Contingent Liability not provided for in respect of:
Particulars Amount Rs.
No
1 Legal Proceeding Claim not acknowledged as debts 3900000/-
C. Impairment of Assets
The carrying amounts of assets are reviewed at each balance sheet date.
If there is any indication of impairment based internal/external
factors. An impairment loss will be recognised wherever the carrying
amount of an asset exceeds its estimated recoverable amount. The
recoverable amount is greater of the assets' net selling price and
value in use. In assessing the value in use the estimated future cash
flows are discounted to the present value at the weighted average cost
of capital. During the year there are no impairment losses of the
Company.
D. Foreign Currency Transactions
Earnings in Foreign Currency:
E. Related Party Disclosures
As per the Accounting Standard on "Related Party Disclosures" (AS 18)
issued by the Institute of Chartered Accountants of India, the related
parties and the details of transaction with them are as follows:
Particulars
1 Key Managerial Person Kalyan J. Shah ,Nirav K Shah,
Fenil Shah, Premal Joshi and Ashini Shah
2 Relatives of Key Managerial Apurva Shah
Person
3 Associate No Transactions during the year
G. Current Liability related to Micro, Small and Medium Enterpries :
The Company has not received information from vendors regarding their
status under the Micro, Small and Medium Enterprises Development Act,
2006 and hence disclosure relating to amount unpaid to as at year end
together with interest paid/payable under this act have not been given.
The Company is making efforts to get confirmation from the vendors as
regards their status under the Act.
H. In the opinion of the Board of Directors, all items of Current
Assets, Loans and Advances continue to have a realizable value of at
least the amounts at which they are stated in the Balance Sheet, unless
otherwise stated.
I. Balances of Trade Receivables and Loans & Advances are subject to
confirmation and are as per books of account only. However, in the
opinion of management the reconciliation will not have any material
impact on profitability of the Company for the year.
J. Earnings Per Share
The earnings considered in ascertaining the Company's EPS represent
profit for the year after tax. Basic EPS is computed and disclosed
using the weighted average number of equity shares outstanding during
the year.
K. In compliance of Accounting Standard 22 on "Accounting for taxes on
Income" issued by Institute of Chartered Accountants of India, the
Company has provided Accumulated net deferred tax liability in respect
of timing difference as on 31st March, 2015. The item - wise details of
deferred tax liability as on 31.03.2015 are as under:
L. The previous year figures have been accordingly regrouped/
re-classified to conform to the current year's classification.
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