Your Directors have pleasure in presenting the (No of annual report) Annual Report together with the audited accounts of the company for the year ended 31st March, 2011. During the year the company incurred a net ____ of Rs… We hope that we will be able to achieve better results in the next financial year.
AMOUNT PROPOSE TO CARRY ON TO ANY RESERVE:
The company has proposed to transfer the ………………. to Balance Sheet under the head of Reserve and Surplus.
THE CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING/OUTGO:
A) A) Conservation of Energy
Your company consumes electricity only for the operation of it’s computer. Though the consumption of electricity is negligible as compare to the total turnover of the company, your company has taken effective steps to reduce the consumption of electricity.
B) Technology Absorption
This is not applicable to company as it has not purchased or acquired any technology for development of company’s business from outside party.
C) Foreign Exchange Earning/Outgo:
There was no foreign exchange earning or outgo during the year.
Your company has not accepted any deposit from the public as defined under section 58A of the Companies Act, 1956 and rules made thereunder.
DIRECTORS’ RESPONSIBILITY STATEMENT:
The Board of Directors of company confirms:
- that in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;
- that the directors had 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;
- that the directors had 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;
- that the directors had prepared the annual accounts on a going concern basis.
The Auditors’ Report does not contain any qualifications. The notes to the accounts referred to in the Auditor’s Report are self explanatory and therefore do not call for any further comments of Directors.
The Auditors, M/S PQR SHARMA & ASSOCIATES, hold office until the conclusion of the ensuing Annual General Meeting. The Directors recommend that M/S PQR SHARMA & COMPANY, Chartered Accountants, are recommended to be appointed as the Statutory Auditors of the Company at the forthcoming Annual General Meeting of the Company to hold office till the conclusion of the next Annual General Meeting of the Company.
PARTICULARS OF EMPLOYEES:
There are no employees covered by the provisions of Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975
The Directors would like to thank clients, shareholders, vendors, government agencies, bankers & all other business associates for their continued support during the year. We place on record our appreciation for the contributions made by the employees at all levels.
For and on behalf of the Board