NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2015 1 Contingent Liabilities There are no contingent liabilities as on the date of the financial statements. 2 Segment Information for the year ended March 31, 2015 As the Company is engaged only in one business segment i.e. Construction & Sale of Flats and there are no geographical segments, the Balance Sheet as at March 31, 2015 and the Profit and Loss Account for the year ended March 31, 2015 pertain to one business segment and related activities as per Accounting Standard (AS) 17 on "Segment Reporting". 3 Provision for retirement benefits to employees was not provided on accrual basis, which is not in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Profit & Loss Account. 4 Trade payable, Trade receivables, loan and advances balances are subject to confirmation and reconciliation. 5 The Company has not received intimation from most of the suppliers regarding the status under the Micro, Small and Medium Enterprise Development Act, 2006, and hence disclosure requirements in this regard as per schedule VI of the Companies Act, 1956 is not being provided. 6 Figures of brvious year are regrouped, rearranged and reclassified wherever necessary to correspond to figures of the current year. As per our report of even dated For D. Kothary & Co. Chartered Accountants (Firm's Registration No. 105335W) Vipul N. Chauhan (Partner) (Membership No. 047846) For Neo Infracon Limited Naresh Mehta Managing Director Dilip Mehta Director & CFO Place : Mumbai Date : 30th May, 2015 |