NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2018. DEFERRED TAX ASSET (Net)
Deferred tax asset amounts to Rs. 309670/- (Previous year Rs..2,31,119/- arising or account of depreciation & Preliminary expenses Provision for the same has not been recognised in the books on the grounds of prucence concept. It would be accounted for in the subsequent year / years considering the requirements of the Accounting standards |AS-22) regarding reasonable / virtual certainty and according to the- accounting policy followed by the company in this respect.
LONG TERM LOANS AND ADVANCES
| |
AS AT 31ST MARCH 2018
|
AS AT 31ST MARCH 2017
|
|
Unsecured and Considered Good Deposits
|
6,50,000
|
860,000
|
|
TOTAL
|
850,000
|
360,000
|
TRADE RECEIVABLES
| |
AS AT 31ST MARCH 2018
|
AS AT 31ST MARCH 2017
|
|
Unsecured and Considered Goods
|
|
|
|
To Related Parties More than 6 months
|
|
8,921,125
|
|
Others
|
|
1,332.440
|
|
To Others
|
|
|
|
More than 6 months
|
10,833, 511
|
10,515,871
|
|
Others
|
3,764,613
|
602,862
|
|
TOTAL
|
21,053,793
|
21,372,298
|
CASH & BANK BALANCES
| |
AS AT 31ST MARCH 2018
|
AS AT 31ST MARCH 2017
|
|
Cash an Hand
|
873,699
|
641,948
|
|
Balance with Banks
|
1,825,658
|
3,538,865
|
|
Balance with Banks; ( Escow Account)
|
-
|
81,504,000
|
|
TOTAL
|
2,699,357
|
85,684,833
|
| |
|
|
|
SHORT TERM LOANS AND ADVANCES
|
|
|
| |
AS AT 31ST MARCH 2018l
|
AS AT 31ST MARCH 2017
|
|
Unsecured and Considered Good
|
|
|
|
Advance- Income Tax (Net of Provision)
|
2,152,252
|
1,352.352
|
|
Advaces to Subsidiary
|
5,000,000
|
|
|
Advance Receivable in cash or kind or
|
802,390
|
2,467,602
|
|
Advance for capis Goods
|
-
|
1,160,000
|
|
TOTAL
|
7,954,642
|
4,979,934
|
6 FIXED ASSETS
AMOUNT IN INR
| |
Description
|
Gross Block
|
Deprefiation / Amortisation
|
Net Block
|
| |
|
As at 01.04.2017
|
Additions
|
Deductions/ Adjustments
|
As at 31.03,2018
|
As at 01.04.2017
|
Fertile Year
|
Deductions/ Adjustments
|
Upto 31.03,2013
|
As at 31,03,2018
|
As at 31,03.2017
|
|
A
|
TANGIBLE ASSETS:
|
|
|
|
|
|
|
|
|
|
|
| |
OWN ASSETS:
|
|
|
|
|
|
|
|
|
|
|
| |
Office Equipment
|
1,078,066
|
-
|
-
|
1,078,066
|
977,976
|
3,923
|
-
|
981,899
|
96,167
|
100,090
|
| |
Computers
|
5,320,196
|
271,572
|
-
|
5,591,768
|
5,091,504
|
97,218
|
-
|
5,18S,722
|
403,046
|
228,692
|
| |
Furniture & Fixtures
|
2,108,593
|
2,570,536
|
-
|
4,679,129
|
1,863,129
|
675,407
|
-
|
2,538,536
|
2,140,593
|
245,464
|
| |
Vehicle
|
1,200,000
|
-
|
|
1,200,000
|
491,665
|
133,364
|
-
|
675,029
|
524,971
|
708,335
|
|
B
|
TOTAL (A) INTANGIBLE ASSETS:
|
9,706,855
|
2,312,108
|
-
|
12,548,963
|
8,424,274
|
959,912
|
-
|
9,384,186
|
3,164,777
|
1,282,581
|
| |
|
|
|
|
|
|
|
|
|
| |
Software
|
1,019,938
|
|
-
|
1,019,938
|
988,735
|
-
|
-
|
38S,735
|
31,203
|
31,203
|
| |
TOTAL (B]
|
1,019,938
|
|
-
|
1,019,938
|
988,735
|
-
|
-
|
988,735
|
31,203
|
31,203
|
|
C
|
Intangible Asset;;
|
|
|
|
|
|
|
|
|
|
|
| |
Under Development
|
7,800,000
|
817,875
|
-
|
8,617,875
|
|
-
|
-
|
|
8,617,875
|
7,300,000
|
| |
TOTAL (C)
|
7,800,000
|
317,375
|
-
|
8,617,875
|
|
-
|
-
|
|
8,617,875
|
7,300,000
|
| |
TOTAL (A B C)
|
|
|
|
|
|
|
|
|
|
|
|
18,526,793
|
3,659,983
|
-
|
22,186,776
|
9,413,009
|
959,912
|
-
|
10,372,921
|
11,813,855
|
9,113,781
|
| |
Previous Year
|
14,075,783
|
4,451,010
|
-
|
18,526,793
|
8422,192
|
990,817
|
-
|
9,413,009
|
9,113,784
|
|
Note:Expenses paid to director i.e. director salary and consultancy fees amounting to Rs. 817375/- have been capitalised as it pertains to development of intangible asset under development
20 CONTINGENT LIABILITIES AND COMMITMENTS to the extent not provided for
| |
AS AT 31ST MARCH
|
AS AT 31st MARCH 2017
|
|
Commitments Estimated mourn of contracts remaining to be executed on capital account and not provided for
|
-
|
500,000
|
|
337,840
|
500,000
|
| |
|
21. The previous year figures have been regroups, reclassified rearranged wherever consideried necessary to conform wfth the current year presentation.
|
As per our Report of even date
|
For and or date of the Board
|
|
|
For MVK Associates
|
For Octaware Technologies Limited
|
|
|
Chartered Accountants
|
|
|
|
Firm Regn. No- 12202200
|
|
|
|
CA. R. P. Lodha
|
Mohammed Aslam Khan
|
Mohammed Sirajj Gunwan
|
|
Partner
|
Managing Director
|
Director
|
|
M.NO 648195
|
DIM : D0016438
|
CHH : 02507021
|
|
Date:- 28.03-2018
|
Date :- 28.05-2018
|
Date- 28-05-2018
|
|
Place:- Mumbai
|
Place:- Mumbai
|
Place :- Mumbai
|
|