0

KAPIL COTEX LTD.

Annual Report

2013-2014

Registered Address:

SHOP NO. 276, DREAMS MALL,

L. B. S. MARG, NEAR BHANDUP RLY STN.

BHANDUP (WEST) MUMBAI-400078

Company Information

Board of Directors 1. PRAKASHCHANDRA RATHI DIRECTOR 2. POONAM PRAKASH RATHI DIRECTOR 3. YOGESH NANDLAL CHANDAK DIRECTOR 4. RAKESH RAMSWAROOP SOMANI DIRECTOR 5. ELLATH KANDY SURENDRAN DIRECTOR 6. JAGDISH MANOHAR MANTRI DIRECTOR Auditors Share Transfer Agent M/s G S TOSHANIWAL & ASSOCIATES SATELLITE CORPORATE SERVICES PVT LTD

308, 3RD

FLOOR, SRDA SADAN, S A B-302, SONY APTS, OPP. ST. JUDE’S HIGH SCHOOL BRELVI ST FORT, MUMBAI -400001 90 FEET ROAD, JARIMARI SAKINAKA, MUMBAI-72

TEL NO.022-28520461/28520462

Registered Office Address

Shop No.276, Dreams Mall, L.B.S Marg, NearBhandup Railway Station Bhandup(west) Mumbai -400078 Bankers THE FEDRAL BANK (DADAR EAST BRANCH)

KAPIL COTEX LTD (CIN : L17100MH1983PLC031114) Registered Office: SHOP NO. 276, DREAMS MALL, L. B. S. MARG, NEAR BHANDUP RAILWAY STATION, BHANDUP (WEST), MUMBAI – 400 078 Email: kapilcotexlimited@yahoo.co.in Phone: 022-21660432

NOTICE

NOTICE is hereby given that 31st ANNUAL GENERAL MEETING of the members of KAPIL COTEX LTD will be held on Tuesday the 30th September, 2014 at 11.00 a.m. at the Registered Office of the Company at Mahul Road, Antop Hill, Mumbai – 400 037. to transact the following business:- ORDINARY BUSINESS

1. Adoption of Audited Financial Statements-Passed with requisite majority as

an Ordinary Resolution.

2. To appoint Auditor M/s G S TOSHNIWAL & ASSOCIATES, Chartered Accountants-Passed with requisite majority as an Ordinary Resolution

3. Re-appointment of Mr. RAKESH RAMSWAROOP SOMANI (Din No. 02554166) & Mr. JAGDISH MANOHAR MANTRI (Din No. 02632596) as a director-Passed with requisite majority as an Ordinary Resolution.

NOTES 1. A Member entitled to attend and vote at the meeting is entitled to appoint a

Proxy to attend and vote instead of himself / herself and such proxy need not be a member of the Company.

2. The Register of Members and Share Transfer Books of the Company will remain closed from the Saturday 27th September, 2014 to Tuesday 30th September, 2014 (both days inclusive)

3. Since the shares of the Company are not dematerlised, Voting through Electronic mode is not possible and hence facilities of Ballot Papers are being provided alongwith Annual Report.

4. Members are requested to notify immediately any change in their address to

the Company.

MUMBAI By Order of the Board DATED: 31/05/2014 REGISTERED OFFICE SHOP NO. 276, DREAMS MALL, L. B. S. MARG, NEAR BHANDUP RLY STN, BHANDUP (WEST) PRAKASHCHANDRA RATHI Mumbai – 400 078. Director Din No. 01393087

KAPIL COTEX LTD (CIN NO. L17100MH1983PLC031114)

SHOP NO. 276, DREAMS MALL, L. B. S. MARG, NEAR BHANDUP RAILWAY STATION, BHANDUP (WEST) MUMBAI- 400078

Email Id - kapilcotexlimited@yahoo.co.in TEL NO.022-21660432

DIRECTORS’ REPORT

2013-2014 To, The Members, Kapil Cotex Ltd.

The Directors have pleasure in submitting their 31st ANNUAL REPORT along with the Audited Balance Sheet and Profit & Loss Account for the year ended 31st March, 2014.

1. FINANCIAL RESULTS

Current Year Rs.

Previous Year Rs.

Income

Revenue from operations 0 0 Other Income 5,97,640 5,94,203

Total Revenue 5,97,640 5,94,203

Less : Total Expenses 2,52,101 2,77,721 Profit Before Depreciation & Taxation

3,45,539 3,16,482

(-) Depreciation 83,722 39,134

Profit Before Taxation 2,61,817 2,77,348

(-) Provision for Taxation (i) Current Tax

14,000 17,000

(ii) Deferred Tax 8,036 204

(iii) Income Tax Earlier Year 15,612 0

Profit for the year 2,55,393 2,60,552

2. DIVIDEND To conserve resources Directors do not recommend any Dividend for the year ended 31st March 2014. 3. REVIEW OF OPERATIONS The operations of the Company are satisfactory in the current financial period. 4. INSURANCE All the fixed assets of the Company have been adequately insured.

5. CORPORATE GOVERNANCE Clause 49 of the Listing Agreement pertaining to Corporate Governance is not applicable to the Company. 6. DIRECTORS’ RESPONSIBILITY STATEMENT. Pursuant to the requirement under Section 217 (2AA) of the Companies Act, 1956. With respect to Directors’ Responsibility Statement, it is hereby confirmed: ( I ) That in the preparation of the accounts for the financial year

ended 31st March, 2014, the applicable accounting standards have been followed along with proper explanation relating to material departures;`

(II) That the Directors have selected such accounting policies and

applied them consistently and made judgments and estimates that were reasonable and prudent so as to give a true and fair view of the state affairs of the Company at the end of the financial year and of the profit & loss of the Company for the year under review

(III) That the Directors have taken proper and sufficient care for the

maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities:

(IV) That the Directors have prepared the accounts for the financial

year ended 31st March, 2014 on a “going concern” basis. 7. COMPLIANCE CERTIFICATE UNDER SECTION 383A (i) As per the amendment by Companies Act, 2002 all companies having a paid up Capital of more than Rs. 10 Lacks but less then Rs. 500 Lacks requires Compliance Certificate from a Practising Company Secretary certifying that the Company has complied with various provisions under the Companies Act. This provision has been complied with by the Company. 8. PARTICULARS OF EMPLOYEES Information as per Section 217(2A) of the Companies Act, 1956, read with Companies particulars of Employees) Rules, 1975 is not applicable. 10. AUDITOR’S REPORT Regarding comments in the Auditor’s Report, the relevant notes in the accounts are self explanatory.

11. APPOINTMENT OF AUDITORS M/s G. S. Toshniwal & Associates, Chartered Accountants, Mumbai, Statutory Auditor, hold office till the conclusion of the ensuing Annual General Meeting and are eligible for re–appointment. The Company has received letter from M/s G. S. Toshniwal & Associates to the effect that their re–appointment, if made, would be within the prescribed limits under Section 139(1) of the Companies Act, 2013 and that they are not disqualified for re–appointment. 12. LISTING The Shares of the Company continue to be listed on The Stock Exchange, Mumbai and the Company has paid the necessary listing fee for the financial year 2014-15. 13. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNING AND OUTGO. Considering the nature of activities of the company, the Information relating to conservation of energy, technology absorption and foreign exchange earnings and outgo are not applicable to the Company. However, the Company is making all efforts to conserve the same and the Company’s technology being indigenous, the question of absorption by the Company does not arise. Also no foreign exchange were earned or spent. 14. APPRECIATION The Directors wish to place on record sincere appreciation for the devoted and efficient services rendered by all workforce of the Company.

MUMBAI By Order of the Board DATED: 30/05/2014 Mr. PRAKASHCHANDRA RATHI

(Director)

INDEPENDENT AUDITORS’ REPORT

To the Members of M/S KAPIL COTEX LTD

Report on the Financial Statements

We have audited the accompanying financial statements of KAPIL COTEX Ltd, (The Company) which comprise the Balance Sheet as at March 31, 2014, the Statement of Profit and Loss and Cash Flow Statement for the year ended, and a summary of significant accounting policies and other explanatory information.

Management’s Responsibility for the Financial Statements

The Company’s Management is responsible for the preparation 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 Standards notified under the Companies Act,1956

(the Act) read with the General Circular 15/2003 dated 13th

September,2013 of the Ministry of

Corporate Affairs in respect of Section 133 of the Companies Act,2013 and in accordance with the accounting principles generally accepted in India. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness

of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

(a) In the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2014;

(b) In the case of the Profit and Loss Account, of the profit for the year ended on that date; and

(c) In the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements 1. As required by the Companies (Auditor’s Report) Order, 2003 (“the Order”) issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order. 2. As required by section 227(3) of the Act, we report that: (a) We have obtained all the information and explanations which to the best of our knowledge

and belief were necessary for the purpose of our audit; (b) In our opinion proper books of account as required by law have been kept by the Company

so far as appears from our examination of those books (c) The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by

this Report are in agreement with the books of account (d) In our opinion, the Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement

comply with the Accounting Standards notified under the Act read with the General Circular

15/2013 dated 13th

September,2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act,2013.

(e) On the basis of written representations received from the directors as on March 31, 2013, and

taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2013, from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.

For G S TOSHNIWAL & ASSOCIATES

Chartered Accountants Firm Reg No. : - 116867W

(GauriShankerToshniwal)

Place : Mumbai Proprietor Date: 31/05/2014 M.No. 091594

ANNEXURE TO THE INDEPENDENT AUDITORS’ REPORT (Referred to in paragraph 3 of our report of even date)

1. a) The company has maintained proper records showing full particulars including quantitative

details and situation of the fixed assets. The fixed assets of the company have been verified physically by the management during the year and no discrepancies have been noticed on such verification. b) No part of the fixed assets has been disposed off during the year.

2. The company has not held any stocks, so all clauses related to stock & its verification, are not

applicable to the Company. 3. In respect of loans, secured or unsecured, granted or taken by the company to/from companies,

firms or other parties covered in the register maintained under section 301 of the Companies Act,1956 :-

a. According to the information & explanations given to us, the company has not taken loans from companies, firms or parties, whose particular is required to be recorded in the Register maintained u/s.301 of the Companies Act,1956.

b. The company has not granted any loans to parties, covered in the Register

maintained u/s.301 of the Companies Act,1956. 4. In our opinion and according to the information & explanations given to us, there are adequate

internal control procedures commensurate to the size and nature of its business for purchase & sale of investments & fixed assets. During the course of our audit, no major weakness has been noticed in the internal control procedures with regard to these areas.

5. a) Based on audit procedures applied by us and according to the information and explanations

provided by the managements, we are of the opinion that the transactions that need to be entered

into the register maintained under section 301 of companies act, 1956 have been so entered.

b) According to information and explanation given to us, there was no such transaction of value exceeding Rs.5.00 Lac in respect of any such party whose particulars are required to be entered in the registers maintained under section 301, during the year.

6. The Company has not accepted any deposits from the public and hence, provisions of section 58

A & 58 AA of the Act & rules framed thereunder, are not applicable to the company. 7. In our opinion, the Company has an internal audit system commensurate with the size and nature

of it’s business. 8. Maintenance of Cost Records under section 209 (1) (d) of the Companies Act,1956 is not

applicable to the Company.

9. The company has been regular in deposing with the appropriate authorities undisputed statutory

liabilities including income tax and other dues. According to the information and explanations given to us, the provisions of Employees Provident funds and Miscellaneous Provisions Act,1952 and Employees State Insurance Act,1948 are not applicable to the Company. No undisputed amounts payable in respect of Income-Tax, sales tax, custom duties, excise duties was outstanding at the last day of financial year for a period of more than six months from the date it become payable.

10. The company has no accumulated losses and has not incurred any cash losses during the financial

year covered by our audit. 11. Based on our audit procedures and the information and explanations given by the management,

we are of the opinion that the company has not defaulted in repayment of dues to a financial institution, bank or debenture holders.

12. Based on our examination of the record and the information and explanations given to us, the

Company has not granted any loans and/or advances on the basis of security by way of pledge of shares, debenture and other securities.

13. Clause (xiii) of the Order is not applicable to the Company as the Company is not a Chit Fund

Company or nidhi/mutual benefit fund/society. 14. In our opinion, the Company has maintained proper records of transactions & contracts in respect

of dealing or trading in shares & securities during the year and timely entries have been made therein. All shares & securities are held in the company’s own name.

15. According to the information and explanations given to us, the Company has not given any

guarantee for loans taken by others from bank or financial institutions. 16. In ore opinion and according to the explanations given to us, the Company has not availed any

term loans. Therefore, the clause 4(xvi) of the Company (Auditor’s report) order,2003 are not applicable to the company.

17. Based on our examinations of the record and the information and explanations given to us, the

Company has not used the fund raised on short-term basis for long-term investments and vise versa.

18. We are informed that the company has not made any preferential allotments of shares to

companies, firm or other parties listed in the register maintained under section 301 of the Company Act, 1965.

19. The company has not issued debentures and hence requirement of reporting regarding creation of

securities in respect of debenture issued dose not arise. 20. The company has not raised any money by way of public issue. 21. During the course of our examinations of the accounts of the company in accordance with the

generally accepted auditing practices, we have not come across any instances of fraud on or by the company, nor we have been informed by the management, of any such instances being noticed or reported during the year.

For G S TOSHNIWAL & ASSOCIATES Chartered Accountants

PLACE: MUMBAI Date : 31

st MAY,2014. (GAURI SHANKER TOSHNIWAL)

Proprietor. M No 091594

Particulars Note No. Figures as at the

end of 31.03.2014

Figures as at the

end of 31.03.2013

` `I. EQUITY AND LIABILITIES

(1) Shareholder's Funds

(a) Share Capital 2 10,400,000 10,400,000

(b) Reserves and Surplus 3 7,209,047 6,953,654

(2) Non-Current Liabilities

(a) Deferred Tax Liabilities (Net) 4 9,810 1,774

(3) Current Liabilities

(a) Other Current Liabilities 5 136,727 43,466

(b) Short Term provisions 6 14,000 31,362

Total Equity & Liabilities 17,769,584 17,430,256

II.ASSETS ` `

(1) Non-Current Assets

(a) Fixed Assets 7

Tangible Assets 325,923 409,645

(b) Non-Current investments 8 17,278,581 16,004,831

(2) Current Assets

(a) Trade Receivables 9 - 71,707

(b) Cash and cash equivalents 10 161,880 898,488

(c) Short-term loans and advances 11 3,200 43,917

(d) Other Assets 12 - 1,667

Total Assets 17,769,584 17,430,256

Significant Accounting Policies & Notes to Accounts 1 to 18 - -

Notes referred above attached there to form an integral part of Balance Sheet

As per our Report of even date.

FOR G S TOSHNIWAL & ASSOCIATES FOR KAPIL COTEX LIMITED

CHARTERED ACCOUNTANTS

(REG NO. 116867W)

(DIRECTOR) (DIRECTOR)

(GAURI SHANKER TOSHNIWAL)

PROPRIETOR

Membership No. : 091594

PLACE : MUMBAI

DATE: 31.05.2014

KAPIL COTEX LIMITEDG-276, Gate no 3, dreams the Mall, LBS Marg, Bhandup W, MUMBAI-400 078

BALANCE SHEET AS AT 31st MARCH, 2014

Sr.

NoParticulars Note No.

Figures as at the

end of 31.03.2014

Figures as at the

end of 31.03.2013

Rs. Rs.I Revenue from operations 13 -

Other Income 14 597,640 594,203

I. Total Revenue 597,640 594,203

II Expenses:

Employee Benefit Expense 15 65,000 61,785

Depreciation and Amortization Expense 16 83,722 39,134

Other Administrative Expenses 17 187,101 215,936

Total Expenses (II) 335,823 316,855

III Profit before exceptional and extraordinary items and tax (I-II) 261,817 277,348

IV Tax expense:

(1) Current tax 14,000 17,000

(2) Deferred tax 8,036 204-

(3) Income tax provision of Earlier Years (W/off) 15,612 -

Total -

V Profit/(Loss) for the period (III- IV) 255,393 260,552

VI Earning per equity share:

(1) Basic 0.25 0.25

(2) Diluted 0.25 0.25

Notes referred to above form an integral part of Statementof Profit & Loss Account

As per our Report of even date.

FOR G S TOSHNIWAL & ASSOCIATES FOR KAPIL COTEX LIMITED

CHARTERED ACCOUNTANTS

(REG NO. 116867W)

(DIRECTOR) (DIRECTOR)

(GAURI SHANKER TOSHNIWAL)

PROPRIETOR

Membership No. : 091594

PLACE : MUMBAI

DATE: 31.05.2014

KAPIL COTEX LIMITEDG-276, Gate no 3, dreams the Mall, LBS Marg, Bhandup W, MUMBAI-400 078

STATEMENT OF PROFIT & LOSS FOR THE YEAR ENDED ON 31ST MARCH, 2014

KAPIL COTEX Ltd.

PARTICULARS

AMOUNT AMOUNT AMOUNT AMOUNT

A. CASH FLOW FROM OPERATING ACTVITIES

Net profit before tax & extraordinary Income 261,817 277,348

Adjustments:-

Interest Income (58,836) (226,617)

Depreciation & Preliminary Expenses Amortisation 83,722 39,134

Dividend (278,250) (177,900)

(253,364) - (365,383)

OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES 8,453 (88,035)

Adjustments:-

Increase in Sundry Creditors 93261 27483

Increase/decrease in Sundry Debtors 71707 -14828

Other Current Assets (Loans & Advances) 1667 1218533

Net Flow before tax Adjustments 166635 1231188

Income Tax Paid/Credit 24967 191602 16838 1214350

Cash Flow from Operating Activities A 200,055 1,126,315

B. CASH FLOW FROM INVESTING ACTVITIES

Interest Income 58,836 226,617

Puchase of Fixed Assets - (432,347)

Dividend Income 278,250 177,900

Accured interest on FDR 171,921

Investment in Shares -1273749.64 -5494611

Cash flow from Investing Activities B (936,664) (5,350,520)

C. CASH FLOW FROM FINANCING ACTVITIES

Securities Premium 0 0

Share Issue Expenses 0 0

Share Capital 0 0

C 0 0

Net Increase/Decrease in Cash & Cash Equivalents A+B+C (736,608) (4,224,205)

Opening Balance of Cash & Cash Equivalents 898,488 5122693

Closing Balance of Cash & Cash Equivalents 161880 898,488

FOR G S TOSHNIWAL & ASSOCIATES FOR KAPIL COTEX LIMITED

CHARTERED ACCOUNTANTS

(REG NO. 116867W)

(DIRECTOR) (DIRECTOR)

GAURI SHANKER TOSHNIWAL

PROPRIETOR

Membership No. : 091594

PLACE : MUMBAI

DATE: 31.05.2014

CASH FLOW STATEMENT FOR THE YEAR ENDED on 31st MARCH,2014

31.03.2014 31.03.2013

Notes Forming Integral Part of the Balance Sheet as at 31St March, 2014

Note : 2 Share Capital Rs. Rs.

Sr.

NoParticulars

As at 31st

March,14

As at 31st

March,13

1 AUTHORIZED CAPITAL

20,00,000 Equity Shares of Rs. 10/- each 20,000,000 20,000,000

20,000,000 20,000,000

2 ISSUED , SUBSCRIBED & PAID UP CAPITAL

10,40,000 Equity Shares of Rs.10 each, fully Paid up 10,400,000 10,400,000

(Previous Year 10,40,000 Equity Shares of Rs.10 each, fully Paid up for cash)

See Note No.18 Attached herewith

Total 10,400,000 10,400,000

Note : 3 Reserve & Surplus

Sr.

NoParticulars

As at 31st

March,14

As at 31st

March,13

1 Securities Premium reserve (Opening) 5,540,860 5,540,860

Add: Additions/deletions during the Year - -

A 5,540,860 5,540,860

2 Profit & Loss Account Opening 1,412,794 1,152,242

Add: Profit for the period 255,393 260,552

B 1,668,187 1,412,794

Total ( A+B) 7,209,047 6,953,654

Note : 4 Deferred Tax Liabilites

Sr.

NoParticulars

As at 31st

March,14

As at 31st

March,13

1 Provision For Deferred Tax On Current Year

A Opening Liability 1,774 1978

Depreciation as Per Companies Act 1956 83722 39134

Depreciation as per I.T.Act 1961 57715 38473

Difference In Current Years Depreciation 26007 661

B Difference In Current Years Depreciation @ 30.90 % 8036 204

Deferred Tax Liability (net) 9,810 1,774

Note : 5 Other Current Liabilities

Sr.

NoParticulars

As at 31st

March,14

As at 31st

March,13

1 G S Toshniwal & Associates 19,101 16,854

2 Electricity Charges Payable 1,336 3,466

3 Office Maintenance Charges Payable 113,553 20,646

4 R K Somani & Associates 2,500 2,500

5 Dhiren B. Sanghvi 237 -

Total 136,727 43,466

Note : 6 Short Term provisions

Sr.

NoParticulars

As at 31st

March,14

As at 31st

March,13

1 Provision for Current Tax 14,000 17,000

2 Provision for taxation of earlier years - 14,362

Total 14,000 31,362

KAPIL COTEX LIMITED

Note : 7 Fixed Asset

` `

Value at the

beginning

Addition during

the year

Deduction

during the

year

Value at the

end

Value at the

beginning

Addition

during the

year

Deduction

during the

year

Value at the

end

WDV as on

31.03.2013

WDV as on

31.03.2014

Tangible Assets-OWN

1 Computer 68,400 - - 68,400 24,672 17,491 - 42,163 43,728 26,237

3 Furniture & fixtures 388,347 - - 388,347 22,430 66,231 - 88,661 365,917 299,686

SUB TOTAL (A) 456,747 - - 456,747 47,102 83,722 - 130,824 409,645 325,923

(Previous Year) 24,400 432,347 - 456,747 7,968 39,134 - 47,102 16,432 409,645

Gross Block Depreciaton Net Block

KAPIL COTEX LIMITEDNotes Forming Part of the Balance Sheet as at 31st March, 2014

Sr.

NoParticulars

Notes Forming Part of the Balance Sheet as at 31st March, 2014

Note :8 Non-Current Investments In Rs. In Rs.

Sr.

NoParticulars

As at 31st

March,14

As at 31st

March,13

1 Investment in Quoted Equity Shares 13,896,066.05 12,622,316.41

2 Investment in Office premises 3,382,515 3,382,515

TOTAL 17,278,581 16,004,831

Note : 9 Trade Recievables ` `

Sr.

NoParticulars

As at 31st

March,14

As at 31st

March,13

1 Outstanding for more than six months - -

2 Others

a) Secured, Considered Good : -

b) Unsecured, Considered Good : - 71,707

TOTAL - 71,707

Note : 10 Cash & Cash Equivalent ` `

Sr.

NoParticulars

As at 31st

March,14

As at 31st

March,13

1 Cash-on-Hand

Cash Balance 104,039 1,697

- -

Sub Total (A) 104,039 1,697

2 Bank Balance

In Current Account-Federal bank Ltd.Mumbai 57,841 896,791

Sub Total (B) 57,841 896,791

Total [ A + B ] 161,880 898,488

Note : 11 Short Terms Loans and Advances ` `

Sr.

NoParticulars

As at 31st

March,14

As at 31st

March,13

Balance with revenue Authorities-TDS

4 TDS ( AY 2013-2014) - 16,837

5 I T Refund Due ( AY 2012-2013 & 2013-2014) 3,200 27,080

TOTAL 3,200 43,917

Note : 12 Other Assets ` `

Sr.

NoParticulars

As at 31st

March,14

As at 31st

March,13

1 Prepaid Computer Maintenance Charges - 1,667

TOTAL 1,667

KAPIL COTEX LIMITED

Notes Forming Part of the Statement of Profit & Loss Accounts as at 31st March, 2014

Note : 13 Revenue from Operations In Rs. In Rs.

Sr.

NoParticulars

As at 31st

March,14

As at 31st

March,13

- -

TOTAL - -

Note : 14 Other income

Sr.

NoParticulars

As at 31st

March,14

As at 31st

March,13

1 Short term Capital gains on sale of shares 80,554 90,313

2 Dividend Income 278,250 177,900

3 Income from Shares & Securities - 99,373

4 Interest Income 58,836 226,617

5 Rental income 180,000 -

TOTAL 597,640 594,203

Note : 15 Employee Benefit Expenses

Sr.

NoParticulars

As at 31st

March,14

As at 31st

March,13

1 Salary 65,000 61,785

TOTAL 65,000 61,785

Note : 16 Depreciation & Amortisation Expenses

Sr.

NoParticulars

As at 31st

March,14

As at 31st

March,13

1 Depreciation 83,722 39,134

TOTAL 83,722 39,134

Note : 17 Other Administrative Expenses

Sr.

NoParticulars

As at 31st

March,14

As at 31st

March,13

1 Auditors Remuneration 19,101 16,854

2 Conveyance Charges 4,740 4,406

3 Demate Charges 1,910 3,778

4 Depository Charges 13,482 13,482

5 Internal Audit Fees 2,500 2,500

6 ROC Filing fees 4,500 5,000

7 Printing & Stationery Expenses 3,670 3,340

8 Share Transaction Charges 2,903 4,890

9 BSE Listing Fees 16,854 16,854

10 Share Registrar Charges 11,234 11,236

11 Electricity Charges 9,721 8,011

12 Office Maintenance Charges 92,907 72,261

13 Computer Maintenance Charges 2,892 3,333

14 Travelling Expenses - 42,407

15 Prior period Expenses - 7,346

16 Bank Charges 687 237

TOTAL 187,101 215,936

KAPIL COTEX LIMITED

M/s. KAPIL COTEX LIMITED

Notes to Accounts Note No.18

1. Reconciliation of the number of shares outstanding:-

SHARE CAPITAL

IN SHARES IN RS IN SHARES IN RS

AUTHORISED 2000000 20000000 2000000 20000000

ISSUED AT THE BEGINNING OF THE YEAR 1040000 10400000 1040000 10400000

SHARES ISSUED DURING THE YEAR 0 0 0 0

ISSUED SHARE CAPITAL AT END OF YEAR 1040000 10400000 1040000 10400000

UNISSUED SHARE CAPITAL AT YEAR END 960000 9600000 960000 9600000

2. Details of Shreaholders holding more than 5% Shares at the End of Current Year:-

As on 31.03.2014 As on 31.03.2013

Name of Shareholder NO. OF SHARES% OF

HOLDINGNO. OF SHARES

% OF

HOLDINGPrakash C Rathi-Equity Shares 263150 25.30 252150 24.25Poonam R Rathi-Equity Shares 207061 19.91 196250 18.87Choice Equity broking P ltd-Clearing member 52577 5.06 0 0.00

Figures as at the end of

31.03.2014

Figures as at the end of

31.03.2013

Note:- 1. No fresh issue of Equity shares during the year.

2. The Company has only one class of equity shares having a par value of ` 10/- per equity share. Each equity shareholder is entitled to one vote

per share.

3. No bonus shares were issued during the period of five years immediately preceeding the reporting Date.

3. Details of Investments in Equity Shares

DETAILS OF NON-CURRENT INVESTMENTS

IN SHARES IN RS IN SHARES IN RS

Long term investments

Adani Powers Ltd. 3000 109459.5 0 0

Bajaj Hindustan Ltd. 45000 2472557.85 45000 2472557.85

Cipla Ltd. 1000 370370 1000 370370

Hindustan unilever ltd. 0 0 400 221140.92

Hindustan Oil Expolations Ltd. 1300 330996.37 1300 330996.37

Corromondal Internationals Ltd. 1500 510134.70 1500 510134.70

Corromondal Internationals Ltd.-Bonus Debenture 0 0.00 1000 0.00

GATI ltd. 3000 223122.90 0 0.00

Hexaware Technologies Ltd. 2000 217617.40 2000 217617.40

IFCI Ltd. 20000 1069319.00 20000 1069319.00

ING Vsya Bank Ltd. 5000 1346872.05 5000 1346872.05

Indian Oil Corp Ltd. 1000 307607.30 1000 307607.30

Jai Corp Ltd. 5000 934433.50 5000 934433.50

Manglore Chemicals & Fertilisers Ltd. 3649 172405.03 0 0.00

ONGC Ltd. 2000 620745.15 2000 620745.15

Patel Engineering Ltd. 1000 476064.36 1000 476064.36

Ranbaxy Laboratories Ltd. 1000 422021.60 0 0.00

Reliance Industrial Infra Ltd. 1000 671170.50 1000 671170.50

Strides Arcolab Ltd 150 130044.92 0 0.00

Tata Chemicals Ltd. 2000 616857.83 2000 616857.83

Tata Elxsi Ltd. 500 149949.80 0 0.00

Tata Steels Ltd. 1500 643542.90 1500 643542.90

Tata Global Beverages Ltd. 2014 287886.80 0 0.00

Vijaya Bank 12500 737612.25 12500 737612.25

Voltas Ltd. 7000 1075274.34 7000 1075274.34

TOTAL 119113 13896066.05 110200 12622316.42

In Rs. In Rs.

Aggregate Value of Quoted Investments 13896066 12622316

Aggregate Value of UnQuoted Investments NIL NIL

Aggregate Provision in diminution of value of Investments NIL NIL

Market Value of Quoted Investments 11451342 9000595

4. Details of related parties transactions:-

Details of Related Parties

Description of Relationship

Key Management Personnel (KMP)-Directors Prakash Rathi

Poonam Rathi

Details of Related party transactions during the year ended 31st March, 2014

Type of Related Party/ Nature of Business

Key

Management

Personnel

Directors Remuneration & Bonus Nil

Loans/Advances Taken Nil

Loans/Advances Re-Paid Nil

Name of Related party

Figures as at the end of

31.03.2014

Figures as at the end of

31.03.2013

Note:- 1. 400 Shares of Hindustan Unilever Ltd. & 1000 shares of Denso india & 1351 Shares of Manglore

Chemicals were Sold & 1000 Debentures of Corromondal fertilisers redeemed, during the year with a gain of

Rs. 80554.28

5. Payment to Auditors As at 31.03.14 As at 31.03.13

Auditors Remunerations for Statutory Audit 19101 16854

6. Earnings/Expenditures in Foreign Currency NIL NIL

7.Based on information avaialble with the compnay there were no dues to micro and small enterprises,

under the Micro, Small & medium Enterprise Development Act,2006.

8. In the opinion of the Board, the current assets, carry same value, as stated in the normal course of business.

9.The figures of the previous year have been rearranged,reclassified wherever necessary to make comparable

to the Current Year's figures.

10. Balances of Trade Receivable & loans & Advances are subject to Confirmation from concerned parties.

11. There was no contingent liabilities & Commitments at the end of current year.

For KAPIL COTEX LTD

(DIRECTOR) (DIRECTOR)

KAPIL COTEX LIMITED

NOTE-1

NOTES FORMING PART OF FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST

MARCH,2014

1. CORPORATE INFORMATION

Kapil Cotex limited is engaged in the business of textile & its allied products. During the

concerned year, it did not get any revenue from its main objects. However, it deals in shares &

Securities, where it earned capital gains & dividend income.

2. SIGNIFICANT ACCOUNTING POLICIES

(A) System of Accounting:

I. The Financial statements are prepared under the historical cost convention and in accordance with

generally accepted accounting principles and the Accounting Standards issued by The Institute of

Chartered Accountants of India along with the provisions of the Companies Act, 1956.

II The Company, generally, follows the mercantile system of accounting and recognizes income and

expenditure on accrual basis. Dividend Income is recognized as & when received.

III. Estimates and assumptions used in the preparation of the financial statements are based upon

management evaluation of the relevant facts and circumstances as of the date of the financial

statements, which may differ from the actual results at a subsequent date.

(B) Provisions & Contingent Liabilities:

A provision is recognized when there is present obligation as a result of past event and it is

probable that an outflow of resources will be required to settle the obligation, in respect if which a

reliable estimate can be made. Provisions are determined based on the best estimate of the amount

required to settle the obligation at the Balance sheet date. Contingent Liabilities are not

recognized in the financial statements but is disclosed.

(C) Earnings Per Share:-

The earnings considered in ascertaining the Company’s EPS comprises the net profit after tax. The

number of shares used in computing basic EPS is weighted average number of shares outstanding

during the year.

(D) Employees Benefit:-

Short-term employee benefits are recognized as an expense at the undiscounted amount in the

Profit & Loss Account of the year in which the related service is rendered. As per the revised AS-

15 “Employee Benefits”, it is mandatory that the company should provide liability on the

basis of Acturial Valuations. However, the company has accounted employee benefits on cash

basis as & when claimed by employee & no provisions for post employment benefits have been

made.

(E) Segment Reporting:-

The Company has carried out investment activities & earned capital gains & dividend income, the

same has been recognized separately in the profit & loss account. Other than this, it has earned

rental & interest income which has been shown separately in the P&L Account.

(F) Taxation:-

Current tax is determined as the amount of tax payable in respect of taxable income for the year.

Deferred tax is recognized to that extent only, subject to consideration of prudence in respect of

deferred tax assets, or timing differences, being the differences between the taxable income and

accounting income that originate in one year and are capable of reversal in one or more

subsequent years, having tax consequences.

(G) Investments

Investments are classified as Non-Current investments and Current investments. Investments that

are readily realizable and intended to be held for not more than a year are classified as current

investments. All other investments are classified as Non-current investments. Non-current

investments are stated at cost and any decline other than temporary, in the value of such

investments is charged to the profit and loss account. Current investments are stated at the cost

price. However, provision for diminution in value is made to recognise a decline other than

temporary in the value of investments.

(H) Fixed Assets & Depreciation

I. All fixed assets are stated at historical cost of acquisition/construction cost less depreciation. Costs include

all expenses incurred to bring the assets to its present location & Condition.

II. Depreciation on fixed assets is provided at the written down value the rates prescribed in Schedule-XIV of

the Companies Act.

For KAPIL COTEX LIMITED

(DIRECTOR) (DIRECTOR)

PROX FORM (FORM B) (to be filled in and signed by the Shareholder)

Regd. Folio (If not dematerialized)

DP ID & Client ID (If dematerialized)

I/We_______________________________________________________________________resident(s) Of_________________________in the district of _______________________________________in the state of _______ _______________being a shareholder(s) of KAPIL COTEX LTD. Mumbai hereby appoint Shri/Smt. _____________________________resident of ____________________________________in The district of ___________________in the state of ____________________________or failing him/her, Shri/Smt.____________________________resident of___________________________________in the district of____________________________ in the state of _______________________as my / our proxy to

vote for me / us and on my / our behalf at 31st

Annual General Meeting of the shareholder of KAPIL COTEX

LTD. to held on 30th

September, 2014 at 11.00 a.m. SHOP NO. 276, DREAMS MALL, L. B. S. MARG, NEAR BHANDUP RLY STN. BHANDUP (WEST) MUMBAI-400078 and at any adjournment thereof. Signed_____________day of ____________2014

Please

AffixReve

nueReve Signature of Proxy Signature of First name/Sole Shareholder Name: ____________________________________ Address: ___________________________________

INSTRUCTION FOR SIGNING AND LODGING THE PROXY FORM

1. No instrument of proxy shall be valid unless a) in the case of an individual shareholder, it is signed by him/her or his/her attorney, duly authorised in writing b) in the case of joint holder, it is signed by the shareholder first name in the register or his/her attorney, duly authorised in writing. c) in the case of a body corporate signed by its officers or an attorney, duly authorised in writing.

2. An in instrument of proxy shall be sufficiently signed by any shareholder, who is, for any reason unable to write his / her name, if his / her thumb impression is affixed thereto and attested by a Judge, Magistrate. Registrar of Sub-Registrar of Assurances or other Government Gazetted Officer of Co. 3. The Proxy together with. a) the power of attorney or other authority (if any) under which it is signed, or b) a copy of the power of attorney or authority certified by a Notary Public or a Magistrate, should be deposited at the office of KAPIL COTEX LTD. with the Co. Investor services Division, KAPIL COTEX LTD. SHOP NO. 276, DREAMS MALL, L. B. S. MARG, NEAR BHANDUP RLY STN. BHANDUP (WEST) MUMBAI-400078 no less than FOUR DAYS before the date of the AGM 4. No. instrument of proxy shall be valid unless it is duly stamped.