G.D. TRADING AND AGENCIES LIMITED
ANNUAL REPORT 2010-2011
Your Directors have pleasure in presenting the Thirty first Annual Report
together with Audited Accounts for the year 2010-2011 -i.e. from 1st. April
2010 to 31st March, 2011
I. FINANCIAL RESULTS:
The summarized results of the year's working are as under:-
Current Year Previous Year
Net Profit/(Loss) before Taxation 551 4701
Less: Provision for taxation 0 200
Profit/(Loss) after taxation 551 4501
T.D.S. Adjustment 0 0
Add: Surplus(Deficit) C/F from previous Yrs (27,16,390) (27,20,891)
Profit/(Loss) available for appropriation (27,15,839) (27,16,390)
Less: Proposed Dividend 0 0
Corporate Tax on Proposed Dividend 0 0
Balance carried to Balance Sheet (27,15,839) (27,16,390)
The working results for the year under review, resulted a Profit of
Rs.551/-The directors do not recommend any payment of dividend.
We regret to inform you that our founder and Chairman of the Company Shri
Nandkumar Somani has left for heavenly abode. The Board pray to Almighty
let his soul rest in peace and give the strength to his family members.
Shri Sanjay Somani has been appointed as an Additional Director and he hold
office up to this date of Annual General Meeting for which a notice has
been received from one of the members of the Company signifying his
intention to propose him as a candidate for the office of Director
Shri Shekahr Somani, a Director of the Company retire by rotation and being
eligible, offers himself for re-appointment.
I. DIRECTORS RESPONSIBILITY STATEMENT:
Pursuant to Section 217 (2AA) of the Companies Act, the Directors confirm:
i) in the preparation of the annual accounts, the applicable Accounting
Standard have been followed with proper explanation relating to material
ii) appropriate accounting policies have been selected applied
consistently, and have made judgement and estimates that are reasonable and
prudent so as to give a true & fair view of the state of affairs of the
Company for the year under review;
iii) proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of the
Companies Act, 1956 for safeguarding the assets of the company & detecting
fraud & other irregularities;
iv) the annual accounts have been prepared on a going concern basis.
As regards the remark made by the auditor the same is self explanatory and
do not call any further comments.
M/s. J.K. Lahoti & Company, the auditors of the company, retire at the
forthcoming Annual General Meeting. They are available for re-appointment
for a fresh term. Your Directors recommend their reappointment as auditors
of the Company.
V. PARTICULARS OF EMPLOYEES:
There is no employee employed by the Company for the whole year or part of
the year who was in receipt of remuneration in excess of limits provided
u/s. 217 (2A) of the Companies Act, 1956 read with the companies
(particulars of Employees) Rules, 1975.
BY ORDER OF THE BOARD
Date : 02/09/2011