ICEF INFRATEL SERVICES

Balance Sheet as at 31st March 2021

As at 31st March
I. EQUITY AND LIABILITIES Notes 2021
`

(1) Shareholder's Funds

(a) Share Capital 1 1,214,987
(b) Reserves and Surplus 3 58,667
1,273,654
(2) Non-Current Liabilities
(a) Long term borrowings 4 265,000
265,000
(3) Current Liabilities
(a) Trade payables 5 636,520
(b) Other current liabilities 6 205,800
(c) Short-term provisions 7 50,000
892,320

Total 2,430,974

As at 31st March
II. ASSETS 2021
`

(1) Non-current assets

(a) Fixed assets
(i) Tangible assets 8 1,058,972
(b) Long term loans and advances 9 169,000
1,227,972
(2) Current assets
(a) Cash and Bank Balances 10 667,301
667,301
(3) Other Current Assets
(a) Other Current Assets 11 535,700

Total 2,430,973
(0)
Significant Accounting Policies 1

For Navin Sinha & Co. For and on behalf of the Board
(Chartered Accountants)

PARTNER
( Navin kr. Sinha)

Membership No. : 508577

Firm Regn No. 015693C
Place :Patna
Date : 25/07/2021
 ICEF INFRATEL SERVICES
Profit and Loss Account For the Year Ended 31st March 2021
For the year ended 31st March
Particulars Notes 2021
`

I. Revenue from operations 12 4,823,728

II. Other Income 13 175,960
III. Total Revenue (I + II) 4,999,688
IV. Expenses:
Employee benefit expenses 14 2,096,024
Finance costs 6,500
Depreciation and amortisation expenses 8 126,286
Other expenses 15 2,634,064
Total Expenses 4,862,874

V. Profit/ (Loss) before prior period adjustments, exceptional

items and tax (III - IV) 136,814

VI. Prior Period Adjustments -

VII. Profit/ (Loss) before exceptional items and tax (V - VI) 136,814

VIII. Exceptional Items - Loss on Investment

IX. Profit/ (Loss) before tax (VII - VIII) 136,814

X. Tax expense:
(1) Provision for Income Tax -
(2) Deferred tax -

XI. Profit/(Loss) after Tax (IX - X) 136,814

XII. Earning per equity share 68.41

Significant Accounting Policies 1

For Navin Sinha & Co. For and on behalf of the Board
(Chartered Accountants)

PARTNER
( Navin kr. Sinha)

Membership No. : 508577

Firm Regn No. 015693C
Place :Patna
Date : 25/07/2021
 ICEF INFRATEL SERVICES
Note No. "1" : Accounting Policies and Notes on the Accounts

1. SIGNIFICANT ACCOUNTING POLICIES :

A. ACCOUNTING POLICIES AND REVENUE RECOGNITION

The Company follows the merchantile systems of accounting & recognises
income and expenditure on accrual basis.
B. FIXED ASSETS
(i) Fixed Assets are carried at cost of acquisition.
(ii) Depreciation on Fixed Assets are provided on W.D.V. method at the rates
specified in Schedule XIV of the Income Tax Act, 1961

C. INVESTMENTS
Investments are long term investment and are stated at cost

As at
Note : 2 Partners CAPITAL 31st March 2021
`
Authorised Shares
20,000
20,000
Issued, Subscribed & Paid-Up Shares
20,000

Total 20,000

a. Reconciliation of shares outstanding at the beginning & at the end of the reporting period
As at
Equity Shares Nos. 31st March 2021
`
At the beginning of the period - 20,000
Issued during the period - -
Outstanding at the end of the period - 20,000

b. Aggregate number of Bonus share issued & share issued for consideration other than cash.
As at
Particulars Nos. 31st March 2021
`
Equity share alloted as fully paid bonus share by capitalisation of reserve
At the beginning of the year - -
Issued during the year - -
Outstanding at the end of the year - -

Equity share alloted as fully paid up pursuant to contracts for consideration other than Cash
At the beginning of the year - -
Issued during the year - -
Outstanding at the end of the year - -
c. Details of Shareholders holding more than 5% Shares in the Company
As at
Particulars Nos. 31st March 2021
% Holding in the class

0
1st Partner 90
2nd Partner - 10

As at
Note : 3 RESERVE & SURPLUS 31st March 2021
`
a) Deficit (Profit & Loss Account)
Opening Balance 55,891
Addition -
Deduction -
Closing Balance 55,891

Add:- Adjustment for TDS,IT & Prov For IT of Earlier Yrs 5,070
Less:- Income Tax Excess paid 2,294
Less:- Loss on sale of Old car 0
Total 58,667

As at
Note : 4 LONG TERM BORROWINGS 31st March 2021
`
From Bank
Bank Overdraft Against FD 265,000
Total 265,000

As at
Note : 5 TRADES PAYABLES 31st March 2021
`
Sundry Creditors for Goods and Services 636,520
Total 636,520

As at
Note : 6 OTHER CURRENT LIABILITIES 31st March 2021
`
Liabilities for Audit fee 10,000
Liabilities for Others 195,800
Total 205,800

As at
Note : 7 SHORT TERM PROVISIONS 31st March 2021
`
Provision For Income Tax(Current Years) 50,000
Total 50,000
 As at
Note 9 : LONG TERM LOANS AND ADVANCES 31st March 2021
`
a) Loans :
Loans to Partner 165,000
b) Advances to Staff (Unsecured- Considered Good) -
c) Tax Deducted at Source -
d) Security Deposits :
Unsecured, Considered Good :
With Sales Tax Department 4,000
d) Advance Income tax -
Total 169,000

As at
Note : 10 CASH & BANK BALANCES 31st March 2021
`
Balances With Banks
a) In Current Account 150,000
b) In Fixed Deposit Account 200,000
350,000
Cash & Cash Equivalents
a) Cash in Hand -
317,301
Total 667,301

As at
Note : 11 OTHER CURRENT ASSETS 31st March 2021
`
Sundry Debtors 389,500
Loans & Advances 146,200

Total 535,700
 For the year ended
Note : 12 Revenue From Operation 31st March 2021
`

Gross Receipts from Operations 55,176,520

55,176,520
Less-Expenses on Opration
Purchases of Raw Metarials 46,596,890
Power and Fuel 765,900
Misc Stores 1,536,526
Fabrication Charges 1,453,476

50,352,792

Total 4,823,728

For the year ended

Note : 13 OTHER INCOME 31st March 2021
`

INCOME FROM OTHER SOURCES 175,960

Total 175,960

For the year ended

Note : 14 EMPLOYEE BENEFIT EXPENSES 31st March 2021
`

Salary, Wages, Bonus, Gratuity & Allowances 1,685,650

Partners Remuneration 410,374
Total 2,096,024

For the year ended

Note : 15 OTHER EXPENSES 31st March 2021
`

Rent, Rates and Taxes 479,564

Services Charges & Consultancy Fees 356,521
Printing & Stationery 110,269
Telephone Charges 91,389
Accountancy Charges 61,562
Insurance 165,000
Conveyance 193,081
Payment to Auditors -
- As Auditors 35,000
Professional Tax 2,500
Car Running Expenses 129,440
Electricity Charges 85,000
Fooding and Lodging 155,000
Business Promotion 105,393
Other Charges 449,719
Staff Welfare Expenses 40,500
Office Maintenance 174,125
Total 2,634,064
Note : 8 Fixed Assets

ACCUMULATED DEPRECIATION AND NET BOOK

COST
AMORTISATION VALUE
01.04.2020 ADDITION 31.3.2021 31.3.2020 RATE CHARGE 31.3.2021
PARTICULARS THE YEAR
` ` ` ` ` `
TANGIBLE ASSETS

PLANT AND MACHINERY 209,502 200,000 409,502 209,502 15% 31,425 378,077
- - - - -
FURNITURE AND FIXTURES 121,500 25,000 146,500 121,500 10% 12,150 134,350
- - - - -
AIR CONDITIONER 97,429 50,000 147,429 97,429 15% 14,614 132,815
- - - - -
FAX MACHINE 7,586 - 7,586 7,586 15% 1,138 6,448
- - - - -
COMPUTER 12,383 65,000 77,383 12,383 60% 7,430 69,953
- - - - -
MOTOR CAR 377,568 - 377,568 377,568 15% 56,635 320,933
- - - - -
REFRIGERATOR 19,291 - 19,291 19,291 15% 2,894 16,397
-
Total 845,258 340,000 1,185,258 845,258 126,286 1,058,972
PREVIOUS YEAR 1 - - - - -
 ICEF INFRATEL SERVICES

Note : 1 Partners Capital A/c

01.04.2020 Interest Salary Adj of IT Share Capital % Total Drawings 31.3.2021

PARTICULARS on Capitals To Partners of Earliers Yrs of Profit Introduced In Profit
` ` ` ` ` ` ` ` `
Name Of Partners

PARTNER 1 893,814 4,580 369,336 - 123,132 - 90% 1,390,862 250,000 1,140,862

PARTNER 2 53,747 658 41,038 - 13,681 - 10% 109,124 35,000 74,124

Total 947561 5,238 410,374 - 136,814 - 1499986.582 285,000 1,214,987