AGRICULTRE IN

JAMMU & KASHMIR

CBSE ART INTEGRATED PROJECT (SUBJECT: ACCOUNTANCY)

SRISAANTH.B
XI-E | EMERALD VALLEY PUBLIC SCHOOL
SAFFRON HERITAGE OF KASHMIR
Saffron cultivation is typical in the Kashmir region. This plant is mentioned
in the 5th century B.C in Kashmiri records and is still part of the agricultural
economy. Known over the world, Saffron became a cash crop for farmers
resulting of a long traditional heritage.
However, Saffron cultivation has been facing severe challenges of
sustainability and livelihood security with urgent need to adopt appropriate
technologies, to address water scarcity, productivity loss and market
volatilities.
Saffron is not the only one crop cultivated in the Kashmiri lands. First of
all, rice is the most important staple crop and maize the second-most
important. Other important summer crops are millet, pulses. Wheat and
barley are the chief spring crops. Many temperate fruits are grown with
orchards in the Kashmir valley orchards including almonds, apples,
cherries, pears, peaches, and walnuts.
Of all the items, Kashmir is famous for its traditional heritage of saffron.
However, Saffron is also a cash crop. With respect to occupation, only 1
per cent of saffron growers are dependent on any other agriculture, while
rest of the farmers have subsidiary source of income in addition to
agriculture.

MANUFACTURER OF SAFFRON-RETAJ AGRO FARMS

Incepted in the year 1985, at Srinagar (Jammu & Kashmir), “Retaj Agro Farms”
are considered as the most renowned Manufacturer, Wholesaler, Supplier And
Exporter of fine quality Saffron and Dry Fruits. Also, they provide the various
ranges of Kashmiri Saffron, Saffron Flowers, Kashmiri Almond, and many more
products. 70 to 80% of the product are grown in self owned farms and rest is
brought from the near by farms. All offered ranges are prepared using top
grade ingredients. In adding to this, these offered ranges are the rich source of
proteins, fiber, vitamins, iron, anti-oxidants, and other nutrients. Their product
range is widely used for preparing various dishes. Besides being used for
medicinal properties, their offered saffron and dry fruits contain several plant-
derived chemical compounds that are known for disease preventing,
antioxidant, and health-promoting properties. Owing to ingrained
infrastructural base, they are affianced in providing a qualitative series of

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saffron and dry fruits. This infrastructure is categorized into numerous parts.
Adding to this, they do not use any chemical material for cultivation these
saffron and dry fruits range. Also, manufacturing brand names are
 Retaj Saffron,
 Snow tree Walnuts,
 Snow tree Almonds.
The company has established a respected position in the market under the
headship of mentor Mr. Ferooz Ahmad.

PREPARATIONS OF FINANCIAL STATEMENTS FOR THE

COMPANY
Assuming that I’m the Accountant of the company I would be preparing their financial
statements of the financial year April 2022 to March 2023. Given below is their Trial Balance
which would be processed and made into clear picture to ascertain the stance of the
business with the help of financial statements such as

1. Trading and Profit and Loss Account

2. Balance Sheet
(Note :- The following statements are made just for illustrative and project purpose only and
aren’t the actual statements of the business, thus they don’t reflect the stance of business
in real life or at present)

TRIAL BALANCE
Trial Balance
of Retaj Agro Farms
As on 31st March 2023

PARTICULARS Debit (Dr.) Credit (Cr.)

Opening Stock (As on 1-04-2022) 20,000
Capital 1,00,000
Purchases 78,000
Wages 7,000
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Returns Outwards 8,500
Sales 2,00,000
Returns Inwards 8,500
Discount Allowed 1,000
Discount Received 36,560
Bills Receivable 9,500
Bills Payable 30,000
Sundry Creditors 60,000
Creditors for Rent 10,000
Loan from Osama 91,100
Commission (Cr.) 1,00,000
Carriage on Purchases 23,600
Office Salaries 40,000
Carriage on Sales 1,500
Rents and Taxes 6,500
Cash in Hand 12,000
Cash at Bank 65,000
Bad debts 6,000
Land and Factory Building 2,00,000
Lorry 95,000
Lorry Repairs 10,500
Commission (Dr.) 4,950
Sundry Debtors 60,000
Interest on Osama’s Loan 9,110
Drawings by proprietor 10,000
Closing Stock As on 31.03.2023 32,000
TOTAL 6,68,160 6,68,160

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Herewith,I have attached the Trading and Profit And Loss of the Company for the respective
financial year.

TRADING AND PROFIT & LOSS A/C

For the year ending on 31st March 2023

BALANCE SHEET
Since that we have prepared the Trading And Profit & Loss Account, we have ascertained the
net profit of the business for the respective financial year, Hence we will be making the final
statement – BALANCE SHEET inorder to have a summary of the business operations in one
single statement

BALANCE SHEET
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 As on 31st March 2023

CONCLUSION
Now that the Balance sheet is prepared, the company can utilize various
information based on this statement. The company can also plan for business
strategies for the upcoming years or can carry on with the same strategy as per
its decision.
Hence these Financial Statements play a key role in organising and
management of day to day business operations.

THANK YOU

A Project by:-
B.Srisaanth
11-E
Emerald Valley Public School

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