| To, The Members of R.R. SECURITIES LIMITED.
Dear Shareholders,
The Directors have pleasure in presenting herewith the 20th Audited
Annual Report together with the Audited Statement of Accounts of the
Company for the year ended on 31st March, 2013.
FINANCIAL HIGHLIGHTS
During the financial year 2012-2013, the Financial operational results
of the Company is as follows:
(Amount in Rs)
Particulars For the year For the year
ended on ended on
31st March, 31st March,
2013 2012
Total Income. 25,17,914 16,77,119
Total Expenses. 24,30,440 13,79,182
Profit Before Tax. 87,474 297,937
Depreciation. 1,10,617 89,374
Provision for Tax. 35,000 44,000
Differed Tax (Assets) Liability. 16,038 (1,980)
Fringe Benefit Tax NiL NIL
Excess Provision of IT Written NIL NIL
Back
Net Profit/(Loss) for the Year 68,512 2,55,917
DIVIDEND
During the year under review the company has earned very small profit.
Hence, the directors have not recommended any Dividend to be paid.
TRANSFER OF UNPAID/UNCLAIMED DIVIDEND
The Company does not have any amount of Unpaid/Unclaimed Dividend which
is required to be transferred to the Investors Education & Protection
fund as required under Section 205(C) of the Companies Act 1956. There
are no other statutory amount like outstanding unpaid Refund Amount on
Share
Applications, unpaid interests or principal of Deposits and Debentures
etc lying with the company which are required to be transferred to
Investors Education and Protection Fund.
CAPITAL STRUCTURE
During the year under review, your Directors have not issued any Equity
or Preference Shares to any person. There has been no change in the
issued, subscribed and paid up capital of the company during the year
under review.
BUY BACK OF SHARE CAPITAL
Your Director had not declared or announced or completed any procedure
for Buy Back of its own shares during the year under review as per the
provisions of the section 77A, 77AA and 77B of the Companies Act 1956.
Further no Buy Back of Shares if any announced in earlier years are
still pending for implementation.
YEAR UNDER REVIEW
During the year under review your company had earned a total income of
Rs. 25, 17,914/- (Previous Year Rs. 16, 77,119/-). After meeting with
the day to day and total expenses of Rs.24,30,440 (Previous year of
Rs.13,79,182/-), Provisions of Depreciation of Rs.110,617 /- (Previous
year Rs. 89,374 /-), Provision of Income Tax Rs.35,000 /- (Previous
year Rs. 44,000/-), Deferred Tax Liability Rs.16,038 /- (Previous Year
of Rs (1,980/-), Fringe Benefit Tax of Rs. NIL(Previous year Rs. NIL
/-) the company has earned a net Profit for the year of Rs.68,512 /-
(Previous year Net Profit of Rs. 2,55,917 /-).
MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
This information is fully given in the Corporate Governance report.
DEPOSITS
During the year under review your company has neither invited nor
accepted any public deposit or deposits from the public as defined
under Section 58A of the Companies Act-1956.The unsecured loans
interest free are taken from Directors and firms in which directors are
interested as and when required for short term basis which are exempt
from the preview of Section 58A of the Companies Act 1956.
DIRECTORS
Shri Ajitsinh K. Chavda Director of the Company retires by rotation as
per provisions of the Act at this Annual General Meeting. However being
eligible offers himself for reappointment. Your Directors recommend
appointing him by passing resolutions.
DIRECTORS' RESPONSIBLITY STATEMENT
Pursuant to the provision contained in Section 217(2AA) of the
Companies Act, 1956, the Directors of your Company confirm:
(A) That in the preparation of the annual accounts, except the
accounting standards if any mentioned by the auditors in their report
as not complied with, all the other applicable accounting standards
have been followed and to the maximum extent possible except the
accounting standards which are observed as non complied by the Auditors
of the Company. Further no material departures have been made from the
same;
(B) That they have selected such accounting policies and applied them
consistently and made judgments and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affair of
the Company at the end of the financial year and of the profit or loss
of the Company for that period;
(C) That they have taken proper and sufficient care for the maintenance
of adequate accounting records in accordance with the provisions of
this Act for safeguarding the assets of the Company for preventing and
detecting fraud and other irregularities;
(D) That they have prepared the annual accounts on a going concern
basis.
STATUTORY AUDITOR
M/s Nirav A. Patel & Associates, Charted Accountants is appointed in
place of M/s. Jigar S Shah & Co., Chartered Accountants as the auditor
of the Company for the Financial year 2013-14. They will hold office of
the Company up to the conclusion of the next Annual General Meeting as
per the provisions of the Act. The Company has received a letter from
the said Auditors to the effect that their appointment shall be within
the limits laid down under Section 224(1B) of the Companies Act. A
resolution proposing their appointment as the Auditors of the company
for the period from the conclusion of this Annual General Meeting upto
the conclusion of the next Annual General Meeting is required to be
passed. Your directors recommend passing the said resolution.
AUDITORS OBSERVATION
There are no adverse observations made by the Auditors in their report.
However notes to the Accounts to itself are clarification and self
explanatory in the nature.
EMPLOYEES
There are no employees of the company who were in receipt of the
remuneration of Rs.24,00,000/- in the Aggregate if employed for the
year and in receipt of the Monthly remuneration of Rs. 2,00,000/- in
the aggregate if employed for a part of the year under review. Hence
the information required under Section 217 (2A) of the Companies Act,
1956 being not applicable are not given in this report.
STATUTORY INFORMATION
The Information required to be disclosed in the report of the Board of
Directors as per the provisions of Section 217 (1)(e) of the Companies
Act-1956 and the Companies (Disclosure of Particulars in the Report of
Board of Directors) Rules 1988 regarding the conservation of energy,
technology absorption, foreign exchange earnings and outgo are not
applicable to the company.
MATERIAL CHANGES:
No material changes have taken place after completion of the financial
year up to the date of this report which may have substantial effect on
business and finances of the company.
APPRECIATION
Your Directors take this opportunity to acknowledge the trust reposed
in your company by its Shareholders, Bankers and clients. Your
Directors also keenly appreciate the dedication & Commitment of all our
employees, without which the continuing progress of the company would
not have been possible.
Place: Ahmedabad. On Behalf of the Board of Directors
Of R.R. SECURITIES LIMITED
SD/-
Date: 18thjuly, 2013 (RAJENDRA B. SHAH)
Chairman and Director |