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To the Member of
INDIAN SOCIETY OF AGRIBUSINESS PROFESSIONALS
We have examined the Balance sheet of INDIAN SOCIETY OF AGRIBUSINESS
PROFESSIONAL (a company Limited by shares under Section 25 of the Companies
Act, 1956), at March 31,2003, and the related statement of Income and
Expenditure for the year then ended, we have obtained all the information and
explanation which to the best of our knowledge and belief, were necessary for
the purpose of our examination .
In our opinion and to the of our information and according to the explanation
given to us, the Accompanying financial statement give the information required
by the Companies Act, 1956 (the Act) in the manner so required and give a true
and fair view of the state of affairs of INDIAN SOCIETY OF AGRIBUSINESS
PROFESSIONALS at March 31,2003, and its Surplus For the year then ended, and
have been prepared in accordance with the accounting standards referred To the
section 211 (3C) of the act The Balance Sheet and statement of income and
expenditure are The agreement with the books of account Further, in our opinion
the company has maintained proper Books of accounts as required by law,
insofar, as appears from of our examination of those books.
On the basis of information and explanation give to us, and representation
obtained by company, None of the directors of the company who as at March
31,2003, are disqualified under Section 274(I)(g) Of the Act, from being
appointed as Directors.
The provision of the Manufacturing and Other Companies (Auditors Report)Order,
1988, are not applicable to the company, as it is licensed to operate under
section 25 Of the Companies Act, 1956.
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For MAHESH KUMAR &
COMPANY
CHARTERED ACCOUNTED
MAHESH KUMAR
DATED: 13.06.2003
Ref. No. Dated :
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|
INDIAN SOCIETY OF AGRIBUSINESS
PROFESSIONALS
BALANCE SHEET AS ON 31ST MARCH, 2003
|
|
Particulars
|
SCH.
|
Amount 31.03.2003
|
Amount 31.03.2003
|
| Sources of Funds |
Share Capital |
|
2,000.00
|
2,000.00
|
| Share Application Money |
|
4,000.00
|
3,000.00
|
| Reserve & Surplus |
"A"
|
1,956,537.53
|
NIL
|
| Unsecured Loan |
Directors Loan |
"B"
|
55,129.45
2,017,666.98
|
44,786.75
49,786.75
|
| Application of Fund |
Fixed Assets |
"C"
|
|
|
| Gross Block |
|
236,933.60
|
NIL
|
| Less: Depreciation |
|
33,091.00
|
NIL
|
| Net Block |
|
203,842.60
|
NIL
|
| Current Assets, Loans & Advances |
Cash & Bank Balance |
|
NIL
|
7,252.00
|
| Loans and Advances |
"D"
|
13,999.05
|
9,900.00
|
| Deposits |
"E"
|
1,936,926.66
|
|
| |
|
2,154,768.31
|
17,152.00
|
| Less: Current Liabilities & Provisions |
Sundry Creditors |
"F"
|
70,537.50
|
NIL
|
| Expenses Payable |
"G"
|
36,868.00
|
NIL
|
| Bank (O/D) |
|
36,119.00
|
NIL
|
| Misc. Expenditure |
Preliminary Exp. |
|
6,424.00
|
9,636.00
|
| Income & Expenditure |
|
NIL
|
22,998.75
|
| |
Total Rs. |
|
2,017,666.98
|
49,786.75
|
|
AS PER OUR REPORT OF EVEN DATE ATTACHED
For MAHESH KUMAR & COMPANY
CHARTERDE ACCOUNTANTS
PLACE : NEW DELHI
DATED : 13.06.2003
|
INDIAN SOCIETY OF AGRIBUSINESS
PROFESSIONALS
INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDING ON
31ST MARCH, 2003
|
|
Income
|
Amount 31.03.2003
|
Amount 31.03.2003
|
| Grand Received |
3,300,000.00
|
---
|
| Consultancy Received |
14,440.00
|
---
|
| Interest on FD |
109,8290.28
|
---
|
| Membership Fees |
9,750.00
|
3,050.00
|
| Total |
3,434,019.28
|
|
|
| |
|
Expenditure
|
Amount
|
Amount
|
| Advertisment |
24,600.00
|
18,726.75
|
| Bank Charges |
1,999.75
|
300.00
|
| Building Repairs & Maint. |
1,152.00
|
---
|
| Business Promotion |
103,579.00
|
---
|
| Computer Repair & Maint. |
4,793.00
|
---
|
| Consultancy Charges |
191,554.00
|
---
|
| Conveyance |
12,405.00
|
98.00
|
| Distribution Charges |
1,945.00
|
---
|
| Electrical Exp. |
1,270.00
|
---
|
| Fees & Subscription |
2,000.00
|
---
|
| Filing Cartage |
18,836.00
|
---
|
| Freight & Cartage |
385.00
|
---
|
| Hire Charges |
15,000.00
|
---
|
| Interest Charges |
35,203.50
|
---
|
| Loss on Mobile Phone |
5,258.00
|
---
|
| Membership Paid |
5,000.00
|
---
|
| Office Exp. |
4,718.00
|
---
|
| Phone Fax Charges |
29,224.60
|
---
|
| Photocopy Charges |
1,018.50
|
---
|
| Postage & Courier Charges |
424,733.50
|
---
|
| Printing & Stationery |
198,191.15
|
---
|
| Professional Fees |
14,625.00
|
---
|
| Recruitment Exp. |
5,494.00
|
---
|
| Rent |
43,667.00
|
---
|
| Salary |
178,144.75
|
---
|
| Staff Welfare |
6,018.00
|
---
|
| Tender fee charges |
1,612.00
|
---
|
| Travel & Tours |
30,351.00
|
---
|
| Web site Maint Charges |
43,842.00
|
---
|
| Legal Exp. |
---
|
500.00
|
| Preliminary Exp. W/Off |
3,212.00
|
3,212.00
|
| Depreciation of fixed assets |
33,091.00
|
---
|
| TDS |
11,532.08
|
---
|
| Total Rs. |
1,454,483.00
|
22,836.75
|
|
Profit/Loss during The Year 1,956,537.53 -19786.75
AS PER OUR REPORT OF EVEN DATE ATTACHED
For MAHESH KUMAR & COMPANY
CHARTERDE ACCOUNTANTS
PLACE : NEW DELHI
DATED : 13.06.2003
|
RESERVE & SURPLUS AS ON
31.03.2003
SCHEDULE "A"
|
| Opening Balance (Loss) |
22,998.75
|
| During the year (Surplus) |
1,979,536.28
|
| |
1,956,537.53
|
|
|
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UNSECURED LOAN AS 31.03.2003
SCHEDULE "B"
|
| Directors Loan |
44,786.75
|
| Harsh Kumar Verma |
959.00
|
| K.N. Rahaman Imp. A/C |
943.00
|
| Varaprassad Reddy Imp. A/C |
7,430.00
|
| Vikas Kardile Imp. A/C |
1,010.00
|
| |
55,129.45
|
|
| |
INDIAN SOCIETY OF AGRIBUSINESS
PROFESSIONALS
DETAILS OF FIXED ASSETS AS ON 31ST MARCH 2003
SCHEDULE "C"
|
| |
Gross Block
|
Depreciation
|
Net Block
|
| |
As on 31.03.02 |
Addition |
ADJT / Deduction |
As on 31.03.03 |
Up to 31.03.02 |
During Year |
ADJT / Deduction |
Up to 31.03.03 |
As on 31.03.03 |
As on 31.03.02 |
| Computer Hardware A/C |
NIL
|
178,400.00
|
NIL
|
178,400.00
|
NIL
|
29,988.00
|
NIL
|
29,988.00
|
148,412.00
|
NIL
|
| Furniture & Fixtures |
NIL
|
32,853.00
|
NIL
|
32,853.00
|
NIL
|
1,857.00
|
NIL
|
1,857.00
|
30,996.00
|
NIL
|
| Office Equipments |
NIL
|
4,900.00
|
NIL
|
4,900.00
|
NIL
|
|
NIL
|
114.00
|
4,786.00
|
NIL
|
| Phone & Faxes |
NIL
|
26,065.60
|
5,800.00
|
20,265.60
|
NIL
|
1,132.00
|
NIL
|
1,132.00
|
19,648.00
|
NIL
|
| Total |
NIL
|
242,218.60
|
5,800.00
|
236,418.60
|
NIL
|
33,091.00
|
NIL
|
33,091.00
|
203,842.00
|
NIL
|
|
| |
INDIAN SOCIETY OF AGRIBUSINESS
PROFESSIONALS
DEPRECIATION CHART AS PER INCOME TAX ACT 1961
|
|
Particulars
|
W.D.V. As on 31.03.02
|
Addition During
|
Sold During
|
Total
|
%
|
Dep.
|
W.D.V. As on 31.03.03
|
| Computer Hardware A/C |
NIL
|
178,400.00
|
NIL
|
178,400.00
|
60%
|
89,199.00
|
89,201.00
|
| Furniture & Fixtures |
NIL
|
32,853.00
|
NIL
|
32,853.00
|
15%
|
3,106.00
|
29,747.00
|
| Office Equipments |
NIL
|
4,900.00
|
NIL
|
4,900.00
|
15%
|
368.00
|
4,532.00
|
| Phone & Faxes |
NIL
|
26,065.00
|
5,800.00
|
20,265.60
|
25%
|
3,483.00
|
16,782.00
|
| Total |
NIL
|
242,218.00
|
5,800.00
|
236,418.00
|
|
96,156.00
|
140,262.00
|
|
| |
LOANS & ADVANCES AS ON
31.03.2003
SCHEDULE "D"
|
| A.K. Thakur Imp. A/C |
9,172.40
|
| Elangoran Imp. A/C |
3,520.00
|
| S.S Bharathi Imp. A/C |
1,306.00
|
| Total |
13,999.05
|
|
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LOANS & ADVANCES AS ON
31.03.2003
SCHEDULE "D"
|
| HDFC FD 0924470119336 A/C |
1,901,702.68
|
| Interest Accured on FD |
10,223.98
|
| Security Deposits (Office) |
24,500.00
|
| Security Deposits (Water) |
500.00
|
| Total |
1,936,926.66
|
|
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SUNDRY CREDITORS AS ON 31.03.2003
SCHEDULE "F"
|
| Indian Agribusiness Systems Pvt. Ltd. |
50,982.00
|
| Ess Gee Printers |
15,440.00
|
| Dushnet DSL Limited |
3,040.50
|
| Saitronic Computers |
1,075.00
|
| Total |
70,537.50
|
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EXPENSES PAYABLE AS ON 31.03.2003
SCHEDULE "G"
|
| Salary Payable |
36,500.00
|
| TDS Payable |
368.00
|
| Total |
36,868.00
|
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