| Disclosure in board of directors report explanatory The Directors present their report together with audited statement of accounts for the year ended 31st March, 20141. FINANCIAL RESULTS Financial results of the company for the year under review are as under:- | 31-03-2014 | 31-03-2013 | | [Rs.] | [Rs.] | Net profit before depreciation | 1,00,125 | 19,86,965 | Less: Depreciation | 4,632 | 5,655 | Net profit after depreciation | 95,493 | 19,81,310 | Add: Profit b/f from previous year | 86,90,794 | 71,07,807 | Add: Deferred Tax Asset | 65 | 230 | Less: Provision for Income Tax | 18,196 | 3,98,254 | Less: Income Tax for earlier years | 37,299 | 299 | Net Profit transferred to B/S | 87,30,857 | 86,90,794 |
2. DIVIDENDYour Directors do not recommend any dividend. 3. DIRECTORS (a) In accordance with the provision of Section 256 of the Companies Act, 1956,Steve Kanika Verma at the forthcoming Annual General Meeting of the Company but being eligible offers himself for re-appointment. 4. PARTICULARS OF EMPLOYEES:None of the employees is drawing salary in excess of Rs. 5,00,000/- per month and hence such particulars in accordance with the Provision of Section 217(2A) of the Companies Act, 1956 are not furnished. 5. CONSERVATION OF ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE EARNING AND OUTGO:Additional information on conservation of energy, technology absorption as required to be disclosed in terms of Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the report of Board of Directors) Rule, 1988 is not applicable as the Company is a non-manufacturing Company. The Company has neither earned foreign exchange nor spent any amount in foreign exchange. 6.DIRECTORS RESPONSIBILITY STATEMENTPursuant to the requirement under section 217 (2AA) of the Companies Act, 1956 with respect to Directors’ Responsibility Statement, it is hereby confirmed:- i). That in the preparation of the annual accounts for the financial year ended 31st March, 2014, the applicable accounting standards have been followed along with proper explanation relating to material departures. ii). That the directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the Profit of the company for the year under review. iii). That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. iv). That the directors have prepared the annual accounts for the financial year ended on 31st March, 2014 on a going concern basis. 7. AUDITORS The retiring auditors M/s S.S.Poddar & Company, Chartered Accountants retire and being eligible to offer themselves for re-appointment. 8. A copy of Compliance Certificate from a practicing company secretary is annexed to this report. 9. PUBLIC DEPOSITS The Company has not accepted any Public deposits and, as such, no amount on account of principal or interest on public deposits was outstanding on the date of the Balance Sheet. BY ORDER OF THE BOARD PLACE: NEW DELHI DATED: DIRECTORS Description of state of companies affairDIRECTORS’ REPORT The Members Hallmark Textiles Ltd. NEW DELHI The Directors present their report together with audited statement of accounts for the year ended 31st March, 2014 1. FINANCIAL RESULTS Financial results of the company for the year under review are as under:- 31-03-2014 31-03-2013 [Rs.] [Rs.] Net profit before depreciation1,00,12519,86,965 Less: Depreciation4,6325,655 Net profit after depreciation95,49319,81,310 Add: Profit b/f from previous year86,90,79471,07,807 Add: Deferred Tax Asset 65230 Less: Provision for Income Tax18,1963,98,254 Less: Income Tax for earlier years 37,299299 Net Profit transferred to B/S87,30,85786,90,794 2. DIVIDEND Your Directors do not recommend any dividend. 3. DIRECTORS (a) In accordance with the provision of Section 256 of the Companies Act, 1956,Steve Kanika Verma at the forthcoming Annual General Meeting of the Company but being eligible offers himself for re-appointment. 4. PARTICULARS OF EMPLOYEES: None of the employees is drawing salary in excess of Rs. 5,00,000/- per month and hence such particulars in accordance with the Provision of Section 217(2A) of the Companies Act, 1956 are not furnished. 5. CONSERVATION OF ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE EARNING AND OUTGO: Additional information on conservation of energy, technology absorption as required to be disclosed in terms of Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the report of Board of Directors) Rule, 1988 is not applicable as the Company is a non-manufacturing Company. The Company has neither earned foreign exchange nor spent any amount in foreign exchange. 6. DIRECTORS RESPONSIBILITY STATEMENT Pursuant to the requirement under section 217 (2AA) of the Companies Act, 1956 with respect to Directors’ Responsibility Statement, it is hereby confirmed:- i). That in the preparation of the annual accounts for the financial year ended 31st March, 2014, the applicable accounting standards have been followed along with proper explanation relating to material departures. ii). That the directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the Profit of the company for the year under review. iii). That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. iv). That the directors have prepared the annual accounts for the financial year ended on 31st March, 2014 on a going concern basis. 7. AUDITORS The retiring auditors M/s S.S.Poddar & Company, Chartered Accountants retire and being eligible to offer themselves for re-appointment. 8. A copy of Compliance Certificate from a practicing company secretary is annexed to this report. 9. PUBLIC DEPOSITS The Company has not accepted any Public deposits and, as such, no amount on account of principal or interest on public deposits was outstanding on the date of the Balance Sheet. BY ORDER OF THE BOARD PLACE: NEW DELHI DATED: DIRECTORS Disclosure relating to amounts transferred to reservesThe Directors present their report together with audited statement of accounts for the year ended 31st March, 2014 1. FINANCIAL RESULTS Financial results of the company for the year under review are as under:- 31-03-2014 31-03-2013 [Rs.] [Rs.] Net profit before depreciation1,00,12519,86,965 Less: Depreciation4,6325,655 Net profit after depreciation95,49319,81,310 Add: Profit b/f from previous year86,90,79471,07,807 Add: Deferred Tax Asset 65230 Less: Provision for Income Tax18,1963,98,254 Less: Income Tax for earlier years 37,299299 Net Profit transferred to B/S87,30,85786,90,794 Disclosures relating to dividends2. DIVIDEND Your Directors do not recommend any dividend. Details regarding energy conservation. CONSERVATION OF ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE EARNING AND OUTGO: Additional information on conservation of energy, technology absorption as required to be disclosed in terms of Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the report of Board of Directors) Rule, 1988 is not applicable as the Company is a non-manufacturing Company. The Company has neither earned foreign exchange nor spent any amount in foreign exchange. Details regarding technology absorption. CONSERVATION OF ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE EARNING AND OUTGO: Additional information on conservation of energy, technology absorption as required to be disclosed in terms of Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the report of Board of Directors) Rule, 1988 is not applicable as the Company is a non-manufacturing Company. The Company has neither earned foreign exchange nor spent any amount in foreign exchange. Details regarding management discussion and analysis explanatory. CONSERVATION OF ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE EARNING AND OUTGO:Additional information on conservation of energy, technology absorption as required to be disclosed in terms of Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the report of Board of Directors) Rule, 1988 is not applicable as the Company is a non-manufacturing Company. The Company has neither earned foreign exchange nor spent any amount in foreign exchange. Details regarding foreign exchange earnings and outgo. CONSERVATION OF ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE EARNING AND OUTGO: Additional information on conservation of energy, technology absorption as required to be disclosed in terms of Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the report of Board of Directors) Rule, 1988 is not applicable as the Company is a non-manufacturing Company. The Company has neither earned foreign exchange nor spent any amount in foreign exchange. Details regarding research and developmentCONSERVATION OF ENERGY, TECHNOLOGY AND FOREIGN EXCHANGE EARNING AND OUTGO: Additional information on conservation of energy, technology absorption as required to be disclosed in terms of Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the report of Board of Directors) Rule, 1988 is not applicable as the Company is a non-manufacturing Company. The Company has neither earned foreign exchange nor spent any amount in foreign exchange. Particulars of employees as per provisions of section 217PARTICULARS OF EMPLOYEES: None of the employees is drawing salary in excess of Rs. 5,00,000/- per month and hence such particulars in accordance with the Provision of Section 217(2A) of the Companies Act, 1956 are not furnished. Disclosures in director’s responsibility statementDIRECTORS RESPONSIBILITY STATEMENT Pursuant to the requirement under section 217 (2AA) of the Companies Act, 1956 with respect to Directors’ Responsibility Statement, it is hereby confirmed:- i). That in the preparation of the annual accounts for the financial year ended 31st March, 2014, the applicable accounting standards have been followed along with proper explanation relating to material departures. ii). That the directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the Profit of the company for the year under review. iii). That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. iv). That the directors have prepared the annual accounts for the financial year ended on 31st March, 2014 on a going concern basis. Director's comments on qualification(s), reservation(s) or adverse remark(s) of auditors as per board's reportNo qualification or reservation so comments not required
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