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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 31,2004, 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 31,2004, 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
31,2004, 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: 20.06.2004
Ref. No. Dated :
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INDIAN
SOCIETY OF AGRIBUSINESS PROFESSIONALS
BALANCE
SHEET AS ON 31ST MARCH, 2004
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Particulars
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SCH.
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Amount 31.03.2004
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Amount 31.03.2003
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Sources
of Funds
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Share
Capital
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2,000.00
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2,000.00
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Share
Application Money
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4,000.00
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4,000.00
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Reserve
& Surplus
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"A"
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9,17,151.32
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1,956,537.53
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Unsecured
Loan
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Directors
Loan
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"B"
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52310.75
9,75,462.07
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55,129.45
2,017,666.98
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Application
of Fund
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Fixed
Assets
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"C"
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Gross
Block
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3,62,753.60
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236,933.60
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Less:
Depreciation
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1,22,778.00
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33,091.00
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Net
Block
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2,39,975.60
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203,842.60
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Current
Assets, Loans & Advances
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Cash
& Bank Balance
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15,608.00
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NIL
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Loans
and Advances
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"D"
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1,41,607.04
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13,999.05
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Deposits
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"E"
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7,62,320.12
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1,936,926.66
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9,19,535.16
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19,50,925.71
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Less:
Current Liabilities & Provisions
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Sundry
Creditors
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"F"
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NIL
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70,537.50
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Expenses
Payable
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"G"
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1,57,344.00
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36,868.00
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Bank
(O/D)
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29,916.69
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36,119.00
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Misc.
Expenditure
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Preliminary
Exp.
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3,212.00
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6,424.00
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Income
& Expenditure
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NIL
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NIL
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Total
Rs.
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9,75,462.07
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2,017,666.98
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AS PER OUR REPORT OF EVEN DATE ATTACHED
For MAHESH KUMAR & COMPANY
CHARTERDE ACCOUNTANTS
PLACE : NEW DELHI
DATED : 20.06.2004
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INDIAN
SOCIETY OF AGRIBUSINESS PROFESSIONALS
INCOME & EXPENDITURE
ACCOUNT FOR THE YEAR ENDING ON
31ST MARCH, 2004
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Income
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Amount 31.03.2004
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Amount 31.03.2003
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Grand
Received
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3,300,000.00
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3,300,000.00
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Consultancy
Received
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4,26,736.50
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14,440.00
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Interest
on FD
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82,868.70
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109,829.28
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Jariyal
Books
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20,404.00
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Membership
Fees
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15,365.00
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9,750.00
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Total
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3,845,374.20
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3,434,019.28
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Expenditure
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Amount
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Amount
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Advertisement
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54,010.00
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24,600.00
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Bank
Charges
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6,938.86
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1,999.72
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Books
& Periodicals
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5,087.00
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NIL
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Building
Repairs & Maint.
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NIL
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1,152.00
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Business
Promotion
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56,693.00
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103,579.00
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Computer
Repair & Maint.
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20,245.00
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4,793.00
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Consultancy
Charges
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16,44,052.00
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191,554.00
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Conveyance
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85,119.00
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12,405.00
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Contract
Charges
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4,70,188.00
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NIL
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Distribution
Charges
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18,847.00
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1,945.00
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Electrical
Exp.
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33,765.00
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1,270.00
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Fees
& Subscription
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25,081.00
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2,000.00
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Filing
Cartage
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12,987.50
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18,836.00
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Freight
& Cartage
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1,077.00
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385.00
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Generator
Running & Maint.
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9,240.40
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NIL
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Hire
Charges
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36,000.00
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15,000.00
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Interest
Charges
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52,554.00
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35,203.50
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Loss
on Mobile Phone
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NIL
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5,258.00
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Membership
Paid
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NIL
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5,000.00
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Office
Exp.
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21,041.50
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4,718.00
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Phone
Fax Charges
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1,06,450.00
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29,224.60
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Photocopy
Charges
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7,785.65
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1,018.50
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Postage
& Courier Charges
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9,32,239.00
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424,733.50
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Printing
& Stationery
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5,56,060.00
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198,191.15
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Professional
Fees
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36,000.00
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14,625.00
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Recruitment
Exp.
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NIL
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5,494.00
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Rent
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72,000.00
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43,667.00
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Salary
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NIL
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178,144.75
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Signature
Assignment
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63,127.00
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NIL
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Staff
Welfare
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16,805.50
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6,018.00
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Tender
fee charges
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NIL
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1,612.50
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Travel
& Tours
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2,10,645.00
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30,351.70
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Web
site Maint Charges
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2,03,373.00
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43,842.00
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House
Rent Allowance
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30,040.00
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NIL
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Preliminary
Exp. W/Off
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3,212.00
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3,212.00
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Depreciation
of fixed assets
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90,202.00
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33,091.00
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TDS
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NIL
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11,532.08
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Service
Tax
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3,893.00
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NIL
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Short
& Excess
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2.00
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NIL
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Total
Rs.
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48,84,760.41
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1,454,483.00
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Profit/Loss during The Year (1,039,386.21)
AS PER OUR REPORT OF EVEN DATE ATTACHED
For MAHESH KUMAR & COMPANY
CHARTERDE ACCOUNTANTS
PLACE : NEW DELHI
DATED : 20.06.2004
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RESERVE
& SURPLUS AS ON 31.03.2004
SCHEDULE "A"
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Opening
Balance (Loss)
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1,039,386.21
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During
the year (Surplus)
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1,956.537.53
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917,151.32
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UNSECURED
LOAN AS 31.03.2004
SCHEDULE "B"
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Directors
Loan
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52,310.75
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52,310.75
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INDIAN
SOCIETY OF AGRIBUSINESS PROFESSIONALS
DETAILS OF FIXED ASSETS
AS ON 31ST MARCH 2004
SCHEDULE "C"
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Gross Block
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Depreciation
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Net Block
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As on
31.03.03
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Addition
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ADJT /
Deduction
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As on
31.03.04
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Up to
31.03.03
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During
Year
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ADJT /
Deduction
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Up to
31.03.04
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As on
31.03.04
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As on
31.03.03
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Computer
Hardware A/C
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178,400.00
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93,690.00
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NIL
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272,090.00
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29,988.00
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81,611.00
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NIL
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111,599.00
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160,491.00
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148,412.00
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Furniture
& Fixtures
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32,853.00
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4,200.00
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NIL
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37,053.00
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1,857.00
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4,716.00
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NIL
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6,573.00
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30,480.00
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30,996.00
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Office
Equipments
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4,900.00
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23,000.00
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NIL
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27,900.00
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114.00
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3,217.00
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NIL
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3,331.00
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24,569.00
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4,786.00
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Phone
& Faxes
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26,065.60
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5,445.00
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NIL
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25,710.60
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617.00
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658.00
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NIL
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1,275.00
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24,435.60
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19,648.60
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Total
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242,218.60
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126,335.00
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NIL
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362,753.60
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32576.00
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90,202.00
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NIL
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122,778.00
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239,975.60
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203,842.60
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INDIAN
SOCIETY OF AGRIBUSINESS PROFESSIONALS
DEPRECIATION CHART AS
PER INCOME TAX ACT 1961
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Particulars
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W.D.V. As on
31.03.03
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Addition During
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Sold During
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Total
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%
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Dep.
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W.D.V. As on
31.03.04
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Computer
Hardware A/C
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89,201.00
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93,690.00
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NIL
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182,891.00
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60%
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104,064.60
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78,826.40
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Furniture
& Fixtures
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29,747.00
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4,200.00
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NIL
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33,947.00
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15%
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5,092.00
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28,855.00
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Office
Equipments
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4532.00
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23,000.00
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NIL
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27,532.00
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15%
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4,130.00
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23,402.00
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Phone
& Faxes
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16782.60
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5,445.00
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NIL
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22,227.60
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15%
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3,274.50
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18,953.10
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Total
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140,262.60
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126,335.00
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NIL
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266,597.60
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116,561.10
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150,036.50
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LOANS
& ADVANCES AS ON 31.03.2004
SCHEDULE "D"
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ISAPL
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6,300.00
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Capart
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13,500
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Rajeev
Ranjan Imp. A/C
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2,830.00
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Elangoran
Imp. A/C
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1,000.00
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Rajyalakshmi
Gummadi Imp. A/C
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2,055.00
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TDS
Excess Paid
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628.00
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TDS
Receivable
|
111,094.04
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Utthan
Bharti
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4,200.00
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Total
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141,607.04
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LOANS
& ADVANCES AS ON 31.03.2004
SCHEDULE "E"
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HDFC
FD 0924470119336 A/C
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739,805.12
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Security
Deposits (Office)
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22,015.00
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Security
Deposits (Water)
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500.00
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Total
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762,320.12
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EXPENSES
PAYABLE AS ON 31.03.2004
SCHEDULE "F &
G"
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Consultancy
Payable
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116,130.00
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Contract
Payable
|
27,250.00
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TDS
Payable
|
6,300.00
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Phone
& Fax Charges Payable
|
6,560.00
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Total
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156,240.00
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