INDEPENDENT AUDITORS’ REPORT To the Members of Johnson MCS Ltd. Nagpur, Report on the Audit of the Financial Statements Opinion have audited the financial statements of JOHNSON MCS Ltd. (‘the Company’), which comprise the Balance Sheet as at 31% March, 2019, and the Statement of Profit and Loss, and ‘statement of cash flows for the year then ended, and notes to the financial statements, including a summary of the significant accounting policies and other explanatory information. In my opinion and to th best of my information and according to the explanations given to me, the aforesaid financial statemants give the information required by the Companies Act, 2013 (‘the Act’) in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of the affairs of the Company as at 31% March, 2019, and its loss, and its cash flows “or the year ended on that date. Basis for Opinion T conducted my audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. My responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of my report. | am independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of india toget rer with the ethical requirements that are relevant to my ausit of the financial statements under the provisions of the Act and the Rules thereunder, and | have fulfilled my other ethical responsibilities in cccordance witn these requirements and the Code of Ethics. | believe that the audit evidence | have obtained is sufficient and appropriate to provide a basis for my opinion. Material Uncertainty Related fo Goine Concern T draw attention to Note 21(3)(b) in the financial staternents, which states that despite negative net worth the accounts have been prepared on a going concem basis which is dependant on the factors stated therein. My opinion is not modified in respect of this matter. Responsibility of Management and Those Charged with Governance for the Fina The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Act with respect to the >reparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the prov sions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies, making judgments and estimates that are reasonable and prudent; and design, implementation and raaintenance of adequate internal financial controls, that are operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation f the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or ersor. tn preparing the finencial statements, the Board of Directors is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concer and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Those Board of Directors are also responsible for overseeing the company’s financial reporting process. pa (Contd....2)“2 Auditor's Responsibilities for the Audit of the Financial Statements, ‘My objective is to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes my opirion. Reasonable assurance is a high level of assurance, but is not @ guarantee that an audit conducted in accordance with SAs wilt always detect a materiat misstatement when it exists. Misstate nents can arise from fraud or error and are considered mater if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit ir accordance with SAs, | exercise professional judgment and maintain professional skepticism throughout the audit. | also: + Identify and assess the risks cf material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropiiate to provide a basis for my opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may Wwolve collusion, forgery, intentional cmissions, misrepresentations, or the override of internal control. + Obtain an understanding of ternal contro! relevant to the audit in order to design audit procedures that are appropriate in tre circumstances. Under Section 143(3)() of the Act, | am also responsible for expressing my opinon on whether the company has adequate internal financial controls system in place and the operating effectiveness of such controis. + Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. + Conclude on the appropriateness of management's use of the going concem basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern, If | conclude that a material uncertainty exists, | am required to draw attention in my auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify my opinion. My conclusion ae based on the audit evidence obtained up to the date of my auditor's report. However, future eve us or conditions may cause the Company to cease to continue asa going concem. + Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the firancial statements represent the underlying transactions and events in a manner that achieves fair aresentation. | communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that | identify during my audit, | also provide those charged with governance with a statement that | have complied with relevant ethical requirements ‘egarding independence, and to communicate with them ail relationships and other matters that may reasonably be thought to bear on my independence, and where applicable, related safeguards. Report on Other Legal and Requlatory Requirements, 1. As required by the Companies (Auditor's Report) Order, 2016 (‘the Order’) issued by the Central Government of India in :erms of section 143 (11) of the Act, | give in the Annexure a ‘statement on the matters specified in oaragraphs 3 & 4 of the said order. (Contd... 3) fn2. As required by Section 143(3% of the Act, | report that: (a) (b) () (a) e) ) (@) (h) Ihave sought and obteined all the information and explanations which to the best of my knowledge and belief were necessary for the purposes of my audit; In my opinion, proper books of account as required by law have been kept by the Company so far as it a >pears from my examination of those books; The Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with by this Repot are in agreement with the books of account; In my opinion, the aforesaid financial statements comply with the Accounting Standards Specified under Sectioy 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014; The going concern mater described under the Emphasis of Matters paragraph above, in my opinion, may have an adverse effect on the functioning of the company: On the basis of the written representations received from the directors as on 31% March, 2019 taken on record by the Board of Directors, none of the directors is disqualified as on 31° March, 2019 from being appointed as a director in terms of Section 164(2) of the At; in my opinion considering nature of business, size of operation and organisational structure of the entity, “he Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at 31 March, 2019, based on the internal control over financial reporting criteria established by the Company considering the essential compone ts of internal control stated in the Guidance Note on Audit of Internal Financial Coatrols Over Financial Reporting issued by the Institute of Chartered Accountants of India; With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in my opinion and to the best of my information and according to the explanations given to me: }} The Company does not have any pending litigations which would impact its financial positior. i) The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses. i) There were no amounts which were required to be transferred to the Investor Education and Frotection Fund by the Company. FOR SAAD RASUL & CO. Chartered Accountants (Firm Registration No. 120594W) Nagpur, Dated the, (Sajjad Rasul) ~O SEP 2018 Proprietor (M.No.108933) (UDIN - 191088334AAAEHE861)ANNEXURE TO INDEPENDENT AUDITORS’ REPORT Referred to in Pa rt under the heading “Report on Other Legal & Requlatory Reauirements” ¥y Tepor n date on the financicl statements of JOHNSON MCS LTD. NAGPUR, for the year ‘my report of even date on the fins ii) iii) i) vi) vi) viii) ‘ended 31 March, 2019. (a) The company has maintained proper records showing ful particulars including quantitative details and situation of fixed assets (o) These fixed assets have been physically verified by the management at reasonable intervals and no discrepancies have been noticed on such verification fe) The Company does not have any immovable properties of land and building and hence reporting under clause =(i(c) of the Order is not applicable. ‘As explained to me, the inventores were physically verified during the year by the management at recsonable intervals and no material discrepancies were noticed on such physical verfication. ‘The company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under section 189 of the Act In my opinion and according to the information and explanations given to me. there are no loans, investments, guarantees and securities granted in respect of which provisions of section 185 ‘and 188 of the Companies Act, 2013 are applicable and hence not commented upon. In my opinion, and according to the information and explanations given to me, the company has not accepted any deposits from the public to which the directives issued by Reserve Bank of India and the provisions of secton 73 to 76 or any other relevant provisions of the Companies ‘Act, 2013 and rules made there ander are applicable Maintenance of cost records urs, 148(1) of the Companies Act, 2013, is not applicable to the company. (a) According to the records of the company, there were delays in depositing the undisputed statutory cues of Provident Fund, Goods & Service Tax, Income Tax and Profession Tax with tre appropriate authorities. No undisputed amounts payable in respect of the aforesaid dues were outstanding as at 31% March, 2019 for a period of more than six months from the date they become payable except Profession Tax Rs.1,64,565/- and Prevident Fund Rs. 93,000/- which are outstanding for a period of more than six months ‘rom the date they become payable. {e) According to the information and explanations given to me, there are no dues of Sales, Tax, Service Tax, Income Tax, Custom Duty or Excise Duty which have not been deposited on account of any dispute, ‘According to the records ef the company examined by me and the information and explanations given to me, the company has not defaulted in repayment of dues to bank during the year. The company has not obtained any loan or borrowings from financial institutions or government or by way of debentures. (Contd....4) twix) x) xi) xii) xiii) xiv) xy) xvi) 4 The company has not raised any money by way of initial public offer or further public offer (including debt instrument) and through term loans during the year and hence reporting under clause 3(ix) of the order is not applicable. According to information and explanations given to me, no fraud by the company or on the ‘company by its officers and employees has been noticed or reported during the year. According to the information end explanations given to me, the managerial remuneration has been paid/provided in accordence with the provisions of section 197 read with Schedule V to the Companies Act, 2013. ‘The company is not a Nidhi Company and hence reporting under clause 3(xii) of the order is not applicable. According to the information and explanations given to me and based on my examination of the records of the Company, “ransactions with related parties are in compliance with Section 188 of the Act, where applicable, and details of such transactions have been disclosed in the Financial Statements as required by the applicable accounting standards. However, provisions of Section 177 of the Act are nat applicable to the company. During the year the company 1as not made any preferential allotment or private placement of shares or fully or partly conve tible debentures and hence reporting under clause 3(xiv) of the Order is not applicable to the company. In my opinion and according t» information and explanations given to me, during the year the ‘company has not entered into any non-cash transactions with its directors or persons connected with him and hence: provisions of Section 192 of the Act are not applicable. ‘The company is not required to get registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, cluuse 3 (xvi) of the Order is not applicable to the Company. FOR SAJJAD RASUL & CO. Chartered Accountants. (Firm Registration No. 1205e4W) Nagpur, Dated the, (Sajjad Rasul) -8 SEP 2019 Proprietor (M.No.108933) (UDIN - 19108933AAAAEHE861)JOHNSON MCS LTD. BALANCE SHEET AS AT 31ST MARCH. 2019. (Amount in Rupees) (I) EQUITY AND LIABILITIES : Note No. 2013 3-3-2018 1. Shareholders’ Funds : {(@) Share Cepital 1 20,00,000 20,00,000 (b) Reserves & Surplus 2 (1,29,38,555) __(1,10,07,742) (4,09,38.555) ©0,07,742) 2. Non-current Liabilities (2) Leng-term borrowings 3 4,13,70,453 97,04,831 {b) Long-term provisions 4 1,26,923 3. Current Liabilities (a) Short-term borrowings 5 20,28,033 21,21,235 {b) Trade Payables 6 - - {c) Other current liabilities 7 15.16,917 13,98,258 —— 35.44.9560, __35,19,493, Total : 41,76 463 43,43,505 (I) ASSETS; 1, Non-current assets : (a) Property, Plant & Equipm 2nt 8 () Tangible assets 1,80,848 1,73,862 (ii) intangible assets : : (©) Long-term loans and advances 9 64,234 64,234 245,082 096 2. Current Assets : (a) Inventories 10 36,51,949 36,98,663, (b) Trade receivables 1" 66,862 66,862 (©) Cash and bank balances 12 89,435 2,00,701 (d) Short-term loans and advances 13 58,518 4,25,728 (e) Other current assets 14 4817 13,455 35,77.387 -47,05,409 Total :____47,76,463, 43,43.505. Significant Accounting Policies and Notes to the Accounts 21 to 31 The notes referred to above form an integral part of the Financial Statements As per my report of even date. FOR SAJJAD RASUL & CO. (Kadavit John Thomas} Chartered Accountants, Director Fim Registration No, 120594W in: o0see804 SPRL er (SAWJAD RASUL) (anni ‘a John) Proprietor (M.No.108933) ctor {UDIN : 19108933 AAAAEHG861) Din : oos66848JOHNSON MCS LTD. STATEMENT OF PROFIT AND LOSS YEAR ENDED 31ST MARCH, 2019 (Amount in Rupees) Note No. 2018-19 2017-18 INCOME > Revenue from operations : Trading Sales (Tools & Equipments) 11,51,348 6,869,792 Other Income 15, 2,23,003, Total Revenue EXPENDITURE : Trading Purchases (including experses) 16 853,177 4,00,331 Changes in Inventories of Stock-in-Trade 17 46,714 (25,765) Employee benefits expense 18 10,40,951 964,122 Finance costs 19 2,68,392 3,61,067 Depreciation 49,498 28,864 Other expenses 20 12,46,432 Total Expenses Profil(Loss) for the year before Tax (19,30,813) (14,91,100) Less : Income Tax Provision - Income Tax (earlier year) Profit(Loss) after Tax (79,30.873) (14,91,100) Eaming per Equity Share (Basic & Diluted) (9.65) (8.98) Significant Accounting Policies 24 to 31 and Notes to the Accounts ‘The notes referred to above form an ntegral part of the Financial Statements 1 As per my report of even date, \ \ ke FOR SAJJAD RASUL & CO. (KadaWil John Thomas) Chartered Accountants, Director Firm Registration No, 120594W_ Din : 00568804 SFL (SAJJAD RASUL) (Antlarorha John) Proprietor (M.No.108933) Director (UDIN : 19108933 AAAAEH6861) Din : 00586248 Nagpur, Dated the, PaseoJo} IN MCS LTD. CASH FLOW STATEMENT A) CASH FLOW FROM OPERATING ACTIVITIES : Net Profit(Loss) after tax Adjustment for Depreciation Deferred Income Tax Interest received Interest paid Fixed Assets Written Off Loss/(Profit) on Sale of Fixed Assets Operating Profit before Working Capital Changes Adjustment for Trade Receivables Inventories Loans & Advances Trade Payable Other current liabilities & provisions Cash Generated form Operation Direct Taxes Paid Net Cash from Operating Activities B) Cash Flow from Investing Act vities : Purchase of Fixed Assets Sale of Fixed Assets Interest Received Net Cash Used in Investing Activities C) Gash Flow from Financing Activities Proceeds from issue of Share Capital Increasef (Decrease) in Borrowings Interest Paid Net Cash from Financing Activities Net Increase in Cash & Cash Equivalents ( A+B4C ) Cash & Cash Equivalent as a: 1 st April (Op. Bal.) Cash & Cash Equivalent as a: 31st March (Cl. Bal.) As per my report of even date. FOR SAJJAD RASUL & CO. Chartered Accountants, Firm Registration No. 120594W FeRAM, {SAJJAD RASUL) Proprietor (M.No,108933) Naoour Dated the. For the Year Ended 31-03-2019 31-03-2048 Rs. Bs. (19,30,813) (11,914,100) 49,498 28,864 (2,346) (2,271) 2,68,392 3,61,067 (16,18,269) (6,03,440) 46,714 (25,765) 76,048, (83,822) - (2,38,308) 131,361 (1,08,418) (13,61,156) (12,587,754) (13,61,156) 12,57,754) (66,484) (52,458) 271 (50,187) 15,72,420 17,78,494 (2,88,392) 3,61,067) 13,04,028 14,17,427 (1,41,268) 486 2,00,701 91,216 89,435 2,00,701 1.11,266) 1,09,486 \ (Kadavii John Thomas) Director Din : 00506808 ~ » (Ankiatfima John) Director Bin AneRERARJOHNSON MCS LTD. NOTES TO THE ACCOUNTS AS AT 31ST MARCH, 2019. (Amount in Rupees) 3-3-2019 34-3-2018 1) Share Capital : Authorised ; 2,50,000 Equity Shares of Rs.10/- each (Previous Year 2,50,000) 25,00,000 25,00,000 Issued, Subscribed & Paid Up 2,00,000 Equity Shares of Rs.10/- each fully called up and paid up in Cash (Previous Year 2,00,000) 20,00,000 Total 20,00,000 20,00,000 Notes : @) Termssrights attached to equity shares :- The equity shares of the company, having par value of Rs. 10) per share, rank pan passu ir all respects including voting rights and entitlement to dividend. ») The details of the shareholders balding more than 52% of shares in the company are = ‘St, Name of the shareholder Unit 343-2019 31.3:2018 No () Thomas John Kadavil No. of Shares 41,16,350 1,16.350 % 58.18% 58.18% (i) Cherian John Kadavil No. of Shares 79,600 79,600 % 39.80% 39.80% ©} Reconciliation of the number of shares outstanding at the beginning and at the end of the year = 31.3.2018 No.ofShares No. of Shares Atthe beginning of the year 2,00,000 2,00,000 Add : Issued during the year - - ‘Outstanding at the end of the yea 2,00,000 2,00,000 2) Reserves & Surplus ‘Surolus: Balance ProfitLoss) brought forward (1,10,07,742) (98,16,642) ‘Add : Profit(Loss) for the y2ar (19,30.813) 11,91,100) Total ; —(1.29,38,555) —(1,10,07,742) 3) Long Term Borrowings : Unsecured | From Related Parties From Directors Total Note: 1.13,70,453, 1,13,70,453 97,04.831 97,04.831 Unsecured loans from related rarties are of long term nature. No repayment schedule has been defined for the same, fe (Contd,...2)(2) 4) Long term provisions Provision for employee benefits Gratuity Payable Total : 5) Short Term Borrowings : ‘Secured : From Canara Bank Cash Credit Account (Secured by hypothecation 2f stock & book debts, personal guarantee of directors & ccilateral security by mortgage of apartments at Dharampeth and house at Kharnia belonging to the directors.) Total : 6) Trade Payables Due to Micro & Small enterprices Others Total 7) Other Current Liabilities Other Payables For Expenses For Others For Advances From Custo ners Total : 313-2019 1,39,615 41,39.615 20,28,033 20,28,033, 7.97,781 4,88,727 3,10,399 15,16,917 he 313-2018 1,26,923 1,26,923 LS 21,21,235 2121735 2,57,945 8,29,914 3,10,399 13,98,258 (Contd....3)8) Property, Plant & Equipment JOHNSON MCS LT ‘Gross Glock "| Addiions | Sales | Gross Block DEPRECIATION Net Block | Previou sr. Assets ‘On during the or on ason Year No. Opening Day | year adjust: | Closing Date | Uptotast Totaluste | Closing ment Year Closing Date bE i 1) |Computer & Accessories 12,91,720 12,91,720| 12,71,834) 12,7134] 49,886] 19, 2) [Furniture & Fixtures 12,7476] 12,74,776| —12,11,038 12,11,038] 63,738] 63,7 3) [Toots & Equipment 23,485 23,485) 23t 22,311 ara], 4) lottice Equipments 5.55,876| 56,484 6,12,360]4,71,123} 49498} 5,20.621] 91,739] 84.7% 8) |Generator (Sharing) 86,211 86,241 81,900) 81,900] aati} 4.31 fi) - - - - - - - ota $232,058] 56 Aa] | 32,88,582] 30,68,206| io] _ag.age|__31,07,704 1,680,648) _1,7,86 _ Previous Year:| 31,7910] __52,458| 0 32.32,068] ~ 30,29,342| of 20,864] 30,58,206] 1,73,862| 1.80.26 (Contd...4 a9) 10) 11) 12) 13) 14) (4) Long Term Loans and Advances (Unsecured, considered good) Deposits Total Inventories (at Cost or Net Realisable Value whichever is lower} Closing Stock of Trading Goocs, Total 36.51,949 36,98,663, ‘Trade Receivables (Unsecured, considered good) Debts outstanding for more than six months from the date they are due for payment 66,862 66,862 Others - - Total : 56,862, 66,862 Cash and Bank Balances : ‘Cash and Cash Equivalents Cash in hand as per cash 200k 55,316 1,77,528 Balances with Banks : In Current Account 2,396 2,593 Other Bank Balances In Fixed Deposits 31,723 Total : 89,435 ‘Short Term Loans and Advances ; (Unsecured, considered good) Advances to related parties Directors & Shareholders Nil Nil ‘To Others Other Advances. 58,518 1,25,728 Advance Income Tax & TDS (net of provision) - : Total : 58,518 1,25,728 Other Current Assets : (Unsecured, considered good) Accrued Interest on Fixed Deposit 4.617 13,455 4617 13,465 (Contd....5) fe15) 16) 417) 18) 19) 20) Other Income : Consultancy Income Freight Charges Interest on F.D.R. Interest on Income Tax Refund Packing & Forwarding Charges Accounts Written Off ‘Trading Purchases (including exp 2nses) Trading Purchases (Tools & equipments) Purchase Expenses ‘Changes in Inventories of Stock-in-Trade Opening Stoc! Trading Goods Closing Stock : Trading Goods Employee Benefits Expenses Salary Gratuity Contribution to Provident Fund Finance Cost Interest to Bank (on Cash Crecit Alc} Other Expenses : Rent Corporation Tax Insurance Internet Expenses Office Expenses Repairs & Maintenance Electricity Expenses Telephone & Mobile Phone Charges News Paper, Subscription & Periodicals Stationery & Printing Postage, Courier & Freight Outward Travelling Expenses 6) 2018-19 2017-18 - 9,79,150 s00 5.115 2,346 612 219,145, Total 2,23.003, 12,29,564 4,77,875 3,44,605 4,75,302 55,726 Total : 36,51,949 Total : 14 9,09,000 12,692 4,19,259 Total Total 2,68,392 3,61,067 84,000 84,000 - 9,219 13,474 169 : 18,636 18,805 17,116 - 14,383 61,630 64,190 93,341 4,14,160 6,048 9,189 - 361 36,692 28,043 7,286,298 5,94,894 (Contd....6)(8) 2018-19 2017-18 Bank Charges (including Bank G Jarantee Charges) 23,683 37,990 Filing Fees 29,000 - Professional Charges 22,000 65,264 Legal Fees - 36,387 Remuneration to Auditors © ‘Audit Fees 10,000 10,000 Advertisement - 2,500 Exhibition Expenses 1,18,600 - Computer Expenses 4,881 44,127 Business Promotion Expenses - 212,219 GST Late Filing Fees 4,980 - Total: 12.46,432 —__43.67,637. 24) Significant Accounting Policies : i) Basis of Accounting : a) The Financial Statements are prepared under historical cost convention, on the accrual basis of accounting, ») Despite negative net worth, the management is hopeful that the company can continue to carry on business activity in view of the support from directors. Hence the accounts have been prepared on going ccncern basis. ji) Property, Plant & Equipment ; All Property, Plant & Equipment are stated at Cost less Depreciation. The company apitalises all costs relating to acquisition and installation of Property, Plant & Equipment. ii) Depreciation ; Depreciation on Property, Plant & Equipment has been provided on written down value method as per the usefu life prescribed in Schedule Il to the Companies Act, 2013. \v} Inventories : Closing Stock is walued at Cost or Net Realisable Value whichever is lower. ¥) Gratuity : Gratuity Liability is provided for by calculating the accrued liability based on the assumption that such benefit is payable to the employees at the year end. vi) Foreign Currency Transactions : Transactions in foreign currency are recorded at the exchange rate prevailing on the date o- transaction, Assets and Liabilities related to foreign currency transaction, remaining unsettled at the year end are stated at the year end rate, Exchange gains/losses are recognised in the Profit & Loss Account. vil) Provision for Taxation : Provis on for Current Income Tax is made on the basis of tax payable ‘on the taxable income of the surrent year. Deferred Tax is recognised on timing differences, being the difference between taxable income and accounting income that originate in one period and are reversible in one or more subsequent periods. Deferred Tax Assets are recognised subject to consideration of prudence. Hy (Contd....7)22) 23) 24) 25) 26) 21) 28) 29) (7) 3123-2019 31-3-2018 Rs, Rs. Balances of Debtors, Creditors & Other Advances are subject to confirmation. The Company has not received any memorandum (as required to be filed by the suppliers with the notified authority under Micro, Small and Medium enterprises development Act, 2006) claiming their status as micro, small or medium enterprises. Consequently the amount paid/payable to the parties during the year is nil. In the opinion of the Board, Current Assets, Loans and Advances. are approximately of the value stated, if realised, in the ordinary course of business and provisions of all known liabilities are adequate and not in excess of the amount reasonably necessary. 2018-19 Rs. Eamings in Foreign Exchange : : Expenditure in Foreign Currency Travelling Expenses - . Value of Imports calculated on CIF basis Trading Goods. 6,34,576 344,605 Deferred Tax : In terms of Accounting standard (AS-22} on "Accounting for Taxes on Income" issued by The Institute of Chartered Accountants of India, there is a net deferred tax asset amounting to Rs.17,58,406/- (P.Y. Rs.17,90,373/-) as on 31st March, 2019. In compliance with the provisions of accounting standard & based on general prudence, the company has not recognised the said deferred tex assets while preparing the accounts of the current year. Related Parties Disclosures under Accounting Standard 18 i) Relationships a) Key Management Personnel and their relatives Shri K.J. Thomas Shei K.J. Cherian ‘Sheena Thomas (wet 2-09-2018) b) Other related parties with wiom transactions have taken place : Nil Note : Related party relationship is asidentified by the company and relied upon by the auditors, Qe (Contd....8)8 ii) Transactions carried out with related parties referred in | above, in ordinary course of business Particulars Pelatonships ‘ist March, ‘Hist March, i 2019 218 (Rs) (Rs.) [Salary To: ‘Sheena Thomas Key Management 162,000] - Personnel (In taken : ‘Shik. J. Thomas Key Management 28:65,6221 27,49,707 Personnel red Loans repaid Shri K. J. Thomas Key Management 10,60,000 : Personnel lous Unsecured Loans Shi K. J. Thomas key Management 91:06,556, 44.40,936| Personne! Shik. J. Cherian Key Management 52,63,896 52,63,605| Personnel Payables Shi K, J, Thomas Key Management 1.50.546| 569,912 Personnel Shi KJ. Cherian Key Management stan eigit Personnel 30) Earning/(Loss) Per share Profit/(Loss) for the year (19,30,813) (11,91,700) No, of shares 2,00,000 2,00,000 Basic & Diluted EPS (in Rs.) (9.65) (6.96) (Nominal Value of Rs.10/- each) 31) The previous year's figures have been regroupedireclassified/rearranged to conform to this year’s classification. Signature to Notes "1" to "31" As per my report of even date. FOR SAJJAD RASUL & CO. Chartered Accountants, Firm Region No, 1205044 wie: RASUL) Proprietor (M.No.108933) (UDIN : 19108033AAAAEH6861) Nagpur, Dated the, - 4 SEP 2018 (Kadavit hn Thomas) Director Din : goseegoe non < 7a John} Diréctor in : oosse848JOHNSON MCS LTD. DETAILS SHEET LONG TERM BORROWINGS (UNSECURED): From Directors & Shareholders, ‘Shri K.J. Thomas Shri KJ, Cherian TRADE PAYABLES a) Dus to Micro, Small and Medivm Enterprises b) Others: OTHER CURRENT LIABILITIES For Expenses News Paper Bill Payable \Vasudeo Lichade (Godown Rent) Airtel Quality Machine Tools Cexporation DTDG Express Limited GST Payable Audit Fees Payable Salary Payable Telephone Expenses Payable PF, Payable (Employers share) (2018-18) For Others : Thomas K. J. Cherian K. J P, F. Payable (Employees share) (2018-19) Profession Tax (stat For Advances From Customers : ‘Armed Armored Vehicles India Ltd, Mehta B. P. M. K. Enterprises MKM Enterprises. Parwati Enterprises AS AT 31ST MARCH, 2019. Total Rs. = (a) to): Total (a+b) : Total Rs. Total Rs. : Total Rs. : 61,06,557.97 52,63,895.30 4,13,70,453.27 lll 2,414.00 28,000.00 3,440.00 31,384.00 9,465.95 16,283.54 10,000.00 4,93,502.00 4,043.00 1,19,259.00 747,791.49) 1,50,545.86 61,811.00 1,09,080.00 __1.87,290.00, 488,726.86 12,788.00 1,28,911,00 28,602.00 73,678.00 86,420.00 3.40,399.00 (Contd....2)(2) LONG TERM LOANS AND ADVANCES Deposits ‘Godown Deposit (Vesudeo Licitade} 15,000.00 VSNL Deposit 1,000.00 PCDA (HQ) EMD 15,000.00 PSO Association (Diese! Deposit) 8,662.00 Electricity Deposit 740.00 Speed Post Courier 5,000.00 Telephone Deposit 18,832.00 Total Rs TRADE RECEIVABLES : More Than Others Total Six Months 102(U) Maint Section 66,420.00 66,420.00 Indoworth India Limited 442.26 442.26 Total Rs. 0.00 66,862.26 SHORT TERM LOANS AND ADVANCES. Advances to Related Parties - Others Travel Advance 8,186.00 Dilip Brothers 4,347.45 GST Receivable (2017-18) 40,704.18 Income Tax Refund Receivable (Av.2011-12) 5,280.00 Total (a+b) Rs. CASH & BANK BALANCES : tn Current Account : ‘Axis Bank 2,395.55 TotalRs.:_ 2,395.55 In Fixed Deposit Accounts Oo Punjab National Bank 31,723.00 Total Rs. FOR SAJJAD RASUL & CO. Chartered Accountants, Firm Registration No. 120584 PRL Nagpur, dated the, (SAJJAD RASUL) ~# SEP 2019 Proprietor (M.No.108833) {UDIN : 19108933AAAARH6863}