Disclosure in board of directors report explanatory DIRECTORS REPORTTo, The MembersS P FINANCE AND TRADING LIMITED Your Directors have pleasure in presenting their 34th Annual Report and audited Balance Sheet and Profit and Loss Account for the year ended 31st March, 2014. FINANCIAL HIGHLIGHTS: (Rupees in Lacs)Particulars | Current Year2013-2014 | Previous Year2012-2013 | Gross Receipts | 239.30 | 4610.00 | Profit / (Loss) before taxProvision for taxProfit/ (Loss) after taxTransferred to ReservesTotal retained ProfitTotal Carried Forward Profit / (Loss) | 232.2843.73188.5437.71150.831467.52 | 418.4080.77337.6367.53270.101316.69 |
DIVIDEND Your Directors do not propose any Dividend on Equity Shares of the Company for the year. DIRECTORS Smt. Ashadevi Poddar retires by rotation and being eligible offer herself for re-appointment. The Board recommends her appointments at the ensuing Annual General Meeting. PUBLIC DEPOSIT The company has not accepted any deposits from public during the year under report. PARTICULARS OF EMOPLOYEES The information of employees pursuant to Section 217 (2A) of the Companies Act, 1956 is nil. CONSERVATION OF ENERGY The Company did not have any power consumption during the year. As such information regarding conservation of energy is not applicable. TECHNOLOGY ABSORPTION - NilFOREIGN EXCHANGE EARNINGS AND OUTGO - NilDIRECTORS RESPONSIBILITY STATEMENT The Board of Directors hereby declares:- i. that in the preparation of the Annual Accounts, the applicable accounting standards has been followed along with proper explanation relating to material departures. ii. that the Directors has 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 or loss of the company for that period. iii. that the Directors has taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this 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 on a going concern basis. COMPLIANCE CERTIFICATE A report from M/s. J.H. Fatehchandka & Company, Company Secretaries regarding compliance u/s 383A(1) of the companies Act, 1956 is appended. AUDITORS The Auditor M/s. B. L. Sarda & Associates, Chartered Accountants, Mumbai (Firm Registration No. 109266 W), retire at the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment, pursuant to section 139 of the Companies Act, 2013, conclusion of the 37th AGM of the company to be held in the year 2017 (subject to ratification of their appointment at every AGM), on such remuneration as may be fixed by the Board of Directors of the Company. ACKNOWLEDGEMENT The Directors record their appreciation for the co-operation from the Employees and Bankers during the year. For and on behalf of the Board of DirectorsFor S.P. Finance and Trading Limited Chairperson Place: MumbaiDated: 5th September, 2014 Your Directors do not propose any Dividend on Equity Shares of the Company for the year. Details regarding energy conservationThe Company did not have any power consumption during the year. As such information regarding conservation of energy is not applicable. Particulars of employees as per provisions of section 217The information of employees pursuant to Section 217 (2A) of the Companies Act, 1956 is nil. Disclosures in director’s responsibility statementThe Board of Directors hereby declares:- i. that in the preparation of the Annual Accounts, the applicable accounting standards has been followed along with proper explanation relating to material departures. ii. that the Directors has 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 or loss of the company for that period. iii. that the Directors has taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this 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 on a going concern basis. Director's comments on qualification(s), reservation(s) or adverse remark(s) of auditors as per board's reportAUDITORS The Auditor M/s. B. L. Sarda & Associates, Chartered Accountants, Mumbai (Firm Registration No. 109266 W), retire at the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment, pursuant to section 139 of the Companies Act, 2013, conclusion of the 37th AGM of the company to be held in the year 2017 (subject to ratification of their appointment at every AGM), on such remuneration as may be fixed by the Board of Directors of the Company. ACKNOWLEDGEMENT The Directors record their appreciation for the co-operation from the Employees and Bankers during the year. |