అకౌంట్స్ గమనికలుHansaflon Plasto Chem Ltd.

Mar 31, 2011

1.Company is engaged in manufacturing of Non-stick coating, Leather Sheets, Pulp Sheet & Paperboard & Dies.

2. In the opinion of the board ,value of all the current assets, loans, and advances and other receivables is not less than their realizable value.

3. Debtors/creditors/advances are subject to reconciliation/ confirmation.

4. The company has still not taken any steps to forfeit shares on which shares allotment money of Rs. 260,504.35 is due.

5.The company has not transferred Rs. 21,956.22 lying in unpaid dividend account since 1995 to the General revenue account of the central govt. in pursuance to sub sec(5) of section 205A of the Companies Act 1956.

6. From the financial year covered by our audit, there is virtual certainty that there would be sufficient taxable income in future against which deferred tax assets & liability if recognized could be reversed. Thus the company has recognized deferred tax liability / assets in line with Accounting Standard-22 relating to "Accounting for taxes on Income" issued by The Institute of Chartered Accountants of India. The components of Deferred Tax Liabilities/(Assets) are

7. During the year , the company purchased material amounting Rs. 1,21,95,574/- from Higrow Industries and made sale amounting Rs. 1,05,17,045/- to the same after some value addition. The sum of Rs.15,98,746/- received by the company from M/s Higrow Industries in addition to transactions related to Sales & Purchase during the year.

8. Related Party Disclosure as required by Accounting Standard-18 issued by The Institute of Chartered Accountants of India.

9. No provision is made for gratuity and leave encashment during the year.

10. EVENTS OCCURING AFTER BALANCE SHEET DATE

There are no events (subject to the disclosure mentioned hereunder) subsequent to the Balance Sheet date which require adjustments of, or disclosure in, the financial statements or notes thereto.

Disclosure:-

The Company has sold Factor y Land & Building situated at 9 km Gu rgaon Sultanpur Road, Opposite Daya Vihar, Budhera, Gurgaon vide Sale Deed dated 06/06/2011 for Rs.800.00 Lakhs and vide Sale Deed dated 12/07/2011 for Rs. 25.00 Lakhs.

This transaction is in reference of Ordinary Reso lution passed U/s 293(1)(a) of The Companies Act,1956 by Shareholders at EGM dt. 02/02/2009 and Board Resolution dated 15/04/2011.

Previous year figures have been regrouped/ rearranged to whenever found necessary to confirm to the groupings or clarifications of current year.

Schedule 1 to 10 forms an integral part of the Balance Sheet and Profit & Loss Account.

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Mar 31, 2009

1. Company is engaged in manufacturing of Non-stick coating, Pulpsheet & Paperboard & Dies.

2. In the opinion of the Board, value of all current assets, loans and advances and others receivables is not less than their realizable value.

3. Debtors/Creditors/advances are subject to reconciliation / Confirmation.

4. From the financial year covered by our audit, there is virtual certainty that there would be sufficient taxable income in future against which deferred tax assets & liability if recognized could be reversed. Thus the company has recognized deferred tax liability in line with

Accounting Standard - 22 relating to "Accounting for taxes on Income" issued by The Institute of Chartered Accountants of India. The component of Deferred Tax Liabilities/(Assets) are as follows:

5. During the year, the company purchased Raw Material amounting Rs. 739674.66/- from Higrow Industries and made sale amounting Rs. 1340783.85/- to the same after some value addition. In ' our opinion, it should be treated as JOB WORK but as per Management's contention, it's not job work since the raw material has been transformed into entirely new product. -

6. No provision is made for gratuity and leave encashment during the year.

7. Previous year figures have been regrouped/rearranged to whenever found necessary to confirm to the groupings or clarifications of current year.

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Mar 31, 2008

1. Company is engaged in manufacturing of Non-stick coating, Pulpsheet & Paperboard & Dies.

2. In the opinion of the Board, value of all current assets, loans and advances and others receivables is not less than their realizable value.

3. Debtors/Creditors/advances are subject to reconciliation / Confirmation.

4. From the financial year covered by our audit, there is virtual certainty that there would be sufficient taxable income in future against which deferred tax assets & liability if recognized could be reversed. Thus the company has recognized deferred tax liability in line with Accounting Standard - 22 relating to "Accounting for taxes on Income" issued by The Institute of Chartered Accountants of India. The component of Deferred Tax Liabilities/(Assets) are as follows :

5. During the year, the company purchased Raw Material amounting Rs.10,45,058.14 from Higrow Industries and made sale amounting Rs. 10,49,581.52 to the same after some value addition. In our opinion, it should be treated as JOB WORK but as per Management's contention, it's not job work since the raw material has been transformed into entirely new product.

6. No provision is made for gratuity and leave encashment during the year.

Previous year figures have been regrouped/rearranged to whenever found necessary to confirm to the groupings or clarifications of current year.