Mobile Nav

Market

NOTES TO ACCOUNTS

Siddharth Education Services Ltd.

You can view the entire text of Notes to accounts of the company for the latest year
Market Cap. (₹) 26.68 Cr. P/BV 1.19 Book Value (₹) 19.38
52 Week High/Low (₹) 44/19 FV/ML 10/4000 P/E(X) 8.98
Bookclosure 30/09/2018 EPS (₹) 2.56 Div Yield (%) 0.00
Year End :2018-03 

Notes to accounts:

- The financial statements including financial information have been reworked, regrouped, and reclassified wherever considered appropriate to comply with the same. As result of these regroupings and adjustments, the amount reported in financial statements/ information may not be necessarily same as those appearing in the respective audited financial statements for the relevant period.

- Credit and Debit balances of unsecured loans, sundry creditors, sundry Debtors, loans and Advances are subject to confirmation and therefore the effect of the same on profit could not be ascertained.

- The current maturities of the Secured Long Term Borrowings have been correctly reclassified Current maturities of Long Term Debt (which is shown in other Current Liabilities) and Long Term Borrowings.

- Since the company has taxable income and the liability for the same is more than limit specified for advance tax and the advance tax not paid by the company.

- Since the company has unsecure loan which Is given to director of company but for that company has not any agreement in writing.

- In year 2016-17 As per revised Accounting Standard 10 “ Property, Plant & equipment” read with Accounting Standard 13 “ Investment” & as per the MCA Notification No. G.S.R. 364 (E) dated 30th March, 2016 , Company charge Depreciation on assets in Deemed Cost/ carry amount less accumulated depreciation.

- Share Issue Expenses:

Expenditure on share issues is directly written off to the profit and loss account in the year it is incurred as no future benefit is expected to be derived from these expenses.

The Company had incurred the following expenses at the time of issue of shares:

i. Brokerage Charges

ii. Professional Fees to company secretaries, auditors, legal advisors and others.

iii. Payment to merchant bankers.

iv. Printing and Distribution expenses of prospectus, application forms, publicity material, etc.

v. Fee paid to Ministry of Corporate affairs, securities and Exchange Board of India, etc.

- Related Party Disclosure :-

The Disclosures of Transaction with the related parties as defined in the related parties as defined in the Accounting Standard are as follows:

i) Key Management Personnel:

(1) Vinay Bhagwat

(2) Reena Kulkarni

ii) Transactions With Related Parties: (1) Remuneration Paid to Key Managerial Personnel

(a) Vinay Bhagwat - Rs. 12,00,000.

(b) Reena Kulkarni - Rs.7,78,000.

iii) Balance Amount Payable as on 31st March,2018

(a) Vinay Bhagwat - Rs. (12,30,486).

(b) Reena Kulkarni - Rs.6,68,365.

* Secured Loans:

The company has availed secured loans and Term loans against mortgage / hypothecation of various fixed assets from Deutsche bank amounting to Rs.7,65,74,253.44 and from Shriram City Union Finance amounting to Rs.16,89,823.00 are outstanding as on 31st March 2018

* Auditors remuneration for the year is as follows:-

Statutory Audit Fees: Rs. 2,50,000/- (previous year Rs.1,50,000/-)

Attention Investors :
Prevent Unauthorised transactions in your account --> Update your mobile numbers/email IDs with your stock brokers. Receive information of your transactions directly from Exchange on your mobile / email at the end of the day .......... Issued in the interest of investors
Attention Investors :
Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from NSDL on the same day......................issued in the interest of investors.
Attention Investors :
KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
Attention Investors :
No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.
“Investment in securities market are subject to market risks, read all the related documents carefully before investing”.