Can any one please help me how the related party disclosure is given in the audit of a private limited company??
please provide the proforma for the same....
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Related party disclosure
Replies (1)
| ABC LIMITED | |||||||||||
| NOTE 25: OTHER ADDITIONAL NOTES / INFORMATION Contd.. | |||||||||||
| Rupees in ___ | |||||||||||
| J. |
|
||||||||||
| A. | Relationships: | ||||||||||
| 1. Subsidiaries | |||||||||||
| ABC Limited | |||||||||||
| XYZ Private Limited | |||||||||||
| 2. Key Management Personnel and their Relatives | |||||||||||
| Directors : | |||||||||||
| Mr. V | |||||||||||
| Mr. C | |||||||||||
| Mrs. S | |||||||||||
| Mr. M | |||||||||||
| Relatives of Directors : | |||||||||||
| Mr. P (Son of Mr. C) | |||||||||||
| Ms. R (Wife of Mr. V) | |||||||||||
| Mrs. P (Daughter of Mr. V) | |||||||||||
| Mrs. M (Sister of Mr. V) | |||||||||||
| 3. Other Related Parties (in which either of the directors or their relatives have significant influence) | |||||||||||
| S B Pvt. Ltd. | |||||||||||
| AB Investments Pvt. Ltd. | |||||||||||
| SEB Co. | |||||||||||
| ABC Limited (WEF 01 August 2010) | |||||||||||
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|
Nature of transactions: | ||||||||||
| The following transactions were carried out with the related parties mentioned in A above, in the ordinary course of business. | |||||||||||
| Subsidiaries | KMP & Relatives | Other Related parties | |||||||||
| 2011-12 | 2010-11 | 2011-12 | 2010-11 | 2011-12 | 2010-11 | ||||||
| 1 | Purchases of Goods | ||||||||||
| ABC Limited | - | - | - | - | - | - | |||||
| XYZ Private Limited | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | ||||||
| 2 | Sale of Goods | - | - | ||||||||
| ABC Limited | - | - | - | - | - | - | |||||
| XYZ Private Limited | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | ||||||
| 3 | Commission Paid | - | - | ||||||||
| Mr. V | - | - | - | - | - | - | |||||
| Mr. C | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | ||||||
| 4 | Remuneration to Directors & their Relatives | - | - | - | |||||||
| Mr. V | - | - | - | - | - | - | |||||
| Mr. C | - | - | - | - | - | - | |||||
| Mrs. S | - | - | - | - | - | - | |||||
| Mr. M | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | ||||||
| 5 | Interest received | - | - | - | |||||||
| ABC Limited (WEF 01 August 2010) | - | - | - | - | - | - | |||||
| - | - | ||||||||||
| 6 | Hire charges received | - | - | ||||||||
| AB Limited | - | - | - | ||||||||
| - | - | ||||||||||
| 7 | Sale of Investment | - | - | ||||||||
| S B Pvt. Ltd. | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | ||||||
| 8 | Interest on Fixed Deposits | - | - | ||||||||
| S B Pvt. Ltd. | - | - | - | - | - | - | |||||
| AB Investments Pvt. Ltd. | - | - | - | - | - | - | |||||
| SEB Co. | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | ||||||
| 9 | Advances Paid (Net) | - | |||||||||
| ABC Limited | - | - | - | - | - | - | |||||
| XYZ Private Limited | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | ||||||
| 10 | Investment in Subsidiaries | ||||||||||
| ABC Limited | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | ||||||
| 11 | Deposits Received/ (Repaid) | ||||||||||
| S B Pvt. Ltd. | - | - | - | - | - | - | |||||
| AB Investments Pvt. Ltd. | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | ||||||
| 12 | Outstanding Balances | ||||||||||
| a. Fixed Deposits | - | ||||||||||
| S B Pvt. Ltd. | - | - | - | - | - | - | |||||
| AB Investments Pvt. Ltd. | - | - | - | - | - | - | |||||
| SEB Co. | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | ||||||
| b. Investment in Subsidiaries | |||||||||||
| ABC Limited | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | ||||||
| c. Accounts Receivable | |||||||||||
| ABC Limited | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | ||||||
| d. Accounts Payable | |||||||||||
| XYZ Private Limited | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | ||||||
| e. Advances Paid | |||||||||||
| S B Pvt. Ltd. | - | - | - | - | - | - | |||||
| AB Investments Pvt. Ltd. | - | - | - | - | - | - | |||||
| - | - | - | - | - | - | ||||||
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