Casino Hotels Ltd.
CIN-U55101KL1980PLC003184
INDEPENDENT AUDITOR’S REPORT
The Members of Casino Hotels Ltd.
T.B.Road, Kokkalai
Thrissur 680021
Report on the Financial Statements
We have audited the accompanying financial statements of The Members of Casino Hotels Ltd. CIN U55101KL1980PLC003184 T.B.Road,
Kokkalai, Thrissur 680021 “the Company”as at 31st March, 2015, which comprise the Balance Sheet as at March 31, 2015 and the statement
of Profit & Loss for the year ended and a summary of significant accounting policies and other explanatory information annexed thereto.
Management’s Responsibility for the Standalone Financial Statements
The Company’s Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (“the Act”) with
respect to the preparation of these Standalone Financial Statements that give a true and fair view of the financial position and financial
performance of the Company in accordance with the Accounting principles generally accepted in India, including the Accounting standards
specified under Section 133 of the Act, read with Rule 7 of Companies (Accounts) Rules, 2014. This responsibility also includes maintenance
of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing
and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates
that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating
effectively for ensuring the accuracy and completeness of the accounting records, 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 Standalone Financial Statements based on our audit.
We have taken into account the provisions of the Act, the accounting standards and matters which are required to be included in the audit
report under the provisions of the Act and the rules made there under.
We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the Act. 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 Standalone 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 financial control relevant to the
Company’s preparation of the Financial Statements that give a true and fair view in order to design audit procedures that are appropriate in
the circumstances but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial
controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness
of accounting policies used and the reasonableness of the accounting estimates made by Company’s Directors, 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 on the Standalone
Financial Statements.
Opinion
In our opinion and to the best of our information and according to the explanations given to us; the aforesaid Standalone 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, of the State of Affairs of the Company as at 31st March, 2015, and its Profit for the year ended on that date.
Report on Other Legal and Regulatory Requirements
I. As required by the Companies (Auditors Report) Order, 2015 (“the Order”) issued by the Central Government of India in terms of subsection (11) of Section 143 of the Act, following is a
statement on the matters specified in Paragraphs 3 and 4 of the Order.
i) The company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. All
these assets have been physically verified by the Management during the year and there is a regular programme of verification which
15
13
Casino Hotels Ltd.
CIN-U55101KL1980PLC003184
ii)
iii)
iv)
v)
vi)
vii)
viii)
ix)
x)
xi)
xii)
in our opinion is reasonable having regard to the size of the company and the nature of its assets. No material discrepancies were
noticed on such verification.
As the company is not carrying on any processing, manufacturing or trading activity, it does not have any stock of finished goods, spare
parts and raw-materials. Hence physical verification, valuation and consequent adjustments are not applicable to the company.
The company has taken loan from M/s Casino Cultural Auditorium Thrissur, a company under the same management within the
meaning sub sec 186 of the Companies Act 2013. The maximum amount involved during the year was Rs.40 lacs and the balance
outstanding as on 31.03.2015 comes to Rs.40 lacs. In our opinion, the rate of interest and other terms and conditions on which loan have
been granted to the company are not prima facie, prejudicial to the interest of the company. Except that the company has neither
granted nor taken any loans, secured or unsecured to/from companies, firms or other parties covered in the Registers maintained
under section 189 of the Companies Act 2013.
In our opinion and according to the information and explanations given to us there are adequate internal control procedures for fixed
assets commensurate with the size of the company and nature of its business. Since the company is carrying service oriented business
the internal control procedures in respect of purchase of inventory and sale of goods and services are not applicable.
The company has not accepted any deposits from the public. Hence, the directives issued by the Reserve Bank of India and provisions
of Section 73 to 76 of the Act and the rules framed there under are not applicable.
The company is not liable to maintain cost records as prescribed by the Central Government under of sub section (1) of section 148
of the Act.
According to the information and explanations given to us, company is regular in depositing undisputed tax dues including Provident
Fund, Investor Education and Protection Fund, Employees State Insurance, Income tax, Sales tax, Wealth tax, Customs duty, excise
duty, cess and any other statutory dues with the appropriate authorities wherever applicable. It is further informed that there are no
undisputed arrears of outstanding statutory dues as at the end of the last day of the financial year concerned for a period of more than six
months from the date they became payable.
The company has no accumulated loss as at the end of the financial year.
The company has not defaulted in repayment of dues to a financial institution or bank or debenture holders.
According to the information and explanations given to us, company has not given any guarantee for
loans taken by others from
bank or financial institutions.
The company has not taken any term loans.
According to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the year.
II. As required by section 143(3) of the Act, We report that:
a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the
purposes of our audit;
b) In our opinion, proper books of accounts as required by the law have been kept by the Company so far as it appears from our examination
of those books;
c) The Balance Sheet and Statement of Profit and Loss dealt with by this report are in agreement with the books of account;
d) In our opinion, the aforesaid Standalone Financial Statements comply with the Accounting Standards specified under Section 133 of
the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014;
e) On the basis of written representations received from the directors, as on 31st March, 2015, and taken on record by the Board of
directors, none of the directors is disqualified as on 31st March, 2015, from being appointed as a director in terms of section 164(2) of
the Act;
f) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and
Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:
a.
b.
c.
The Company does not have any pending litigations which would impact its financial position.
The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable
losses.
The company has no amount required to be transferred, to the Investor Education and Protection Fund during the year.
Thrissur
13.07.2015
For Abraham & Jose
Chartered Accountants
FRN: 000010 S
Sd/Jose Pottokaran (No. 12056)
Partner
16
14
Casino Hotels Ltd.
CIN-U55101KL1980PLC003184
Casino Hotels Limited
T B ROAD, THRISSUR 680021
BALANCE SHEET AS AT 31ST MARCH, 2015
Particulars
Note No
I. EQUITY AND LIABILITIES
(1) Shareholder’s Funds
(a) Share Capital
(b) Reserves and surplus
(c) Money received against share warrants
Figures as at the end of
current reporting period
as at 31.03.2015
Figures as at the end of
previous reporting period
as at 31.03.2014
Rs
Rs
A
B
31230000
5553190
31230000
5212493
Nil
C
D
E
5000000
3565218
1017100
Nil
4000000
3622909
1017100
Nil
F
391442
Nil
3025654
3269823
53052427
21219
Nil
2296177
2884403
50284301
I
35562760
Nil
8809095
33597518
Nil
5834146
J
3020000
3020000
K
868489
661015
L
M
1030534
814010
924292
907315
386303
4840244
2023247
53052427
1037760
50284301
(2) Share application money pending allotment
(3) Non-Current Liabilities
(a) Long-term borrowings
(b) Deferred tax liabilities (Net)
(c) Other Long term liabilities
(d) Long term provisions
(4) Current Liabilities
(a) Short-term borrowings
(b) Trade payables
(c) Other current liabilities
(d) Short-term provisions
Total
II. ASSETS
(1) Non-current assets
(a) Fixed assets
(i) Tangible assets
(ii) Intangible assets
(iii) Capital work-in-progress
(iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long term loans and advances
(e) Other non-current assets
(2) Current Assets
(b) Inventories
(c) Trade receivables
(d) Cash and cash equivalents
(e) Short-term loans and advances
(f) Other current assets
Total
G
H
N
Statement on Significant Accounting Policies and Notes to the
Financial Statements are an integral part of this Balance Sheet. T
17
15
Casino Hotels Ltd.
CIN-U55101KL1980PLC003184
Casino Hotels Limited
T B ROAD, THRISSUR 680021
STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31ST MARCH 2015
Particulars
Note No Figures as at the end of Figures as at the end of
current reporting period previous reporting period
as at 31.03.2015
ended 31.03.2014
I.
II.
III.
IV.
Revenue from operations
O
Other income
P
Total revenue (I + II)
Expenses:
Cost of materials consumed
Q
Purchase of Stock-in-Trade
Changes in inventories of finished goods, work-in-progress and stock-in-trade
Employee benefit expenses
R
Finance costs
Depreciation and amortization expenses
I
Other expenses
S
Total expenses
V. Profit before exceptional and extraordinary items and tax (III - IV)
VI. Exceptional items
VII. Profit before extraordinary items and tax (V - VI)
VIII Extraordinary items
IX. Profit before tax (VII - VIII)
X. Tax expenses:
(1) Current tax
(2) Deferred tax
XI. Profit /(Loss) for the period from continuing operations
XII. Profit /(Loss) from discontinuing operations
XIII Tax expense of discontinuing operations
XIV Profit/(Loss) from discontinuing operations after tax (XII - XIII)
XV. Profit/(Loss) for the period (XI - XIV)
XVI Earning per equity share: of paid up value Rs.5000/(1) Basic
(2) Diluted
Statement on Significant Accounting Policies and Notes to the
Financial Statements are an integral part of this Profit and Loss account T
As per our report of even date
For Abraham & Jose
Sd/Jose Pottokaran (No. 12056)
Partner
Chartered Accountants
Thrissur
13.07.2015
DIRECTORS
1. Sri. A.K. Varghese
2. Sri. Kodakkat Kesavan
3. Dr. Jose Paul Chandy
4. Sri. E.P.K. Balakrishnan
5. Sri. M.S. Mathew
6. Sri. Fijo Jose
7. Sri. K.C. Thomas
8. Sri. P.J. France
9. Mrs. R.N. Rema
67351883
2087463
69439346
53042391
2096020
55138411
31526020
Nil
26049947
Nil
17334993
603280
3204153
12655941
65324387
4114959
Nil
4114959
Nil
4114959
15546793
623242
2391444
6758689
51370115
3768296
Nil
3768296
Nil
3768296
822130
(57691)
3350520
696136
93290
2978870
3350520
2978870
536
536
477
477
Sd/Sd/Sd/Sd/Sd/Sd/Sd/Sd/Sd/18
16
Casino Hotels Ltd.
CIN-U55101KL1980PLC003184
Casino Hotels Limited
T B ROAD, THRISSUR 680021
CASH FLOW STATEMENT FOR THE YEAR ENDED 31st MARCH, 2015
Particulars
A. Cash flow from Operating Activities
Net profit before tax and extraordinary items
Adjustments
Add:Depreciation
Interest paid to CCAL
Interest paid to Directors
Less: Interest on Fixed Deposit
Profit on Sale of Asset
Dividend
Operating profit before working Capital Changes
Adjustments for changes in working capital (Increase)/Decrease in Inventories
(Increase)/Decrease in Trade Receivables
(Increase)/Decrease in Other current asset
Increase/(Decrease) in Short term borrowings
Increase/(Decrease) in Other current liabilities
Increase/(Decrease) in Short term provisions
Cash generated from operating activities
Direct Taxes
Net cash from Operating Activities (A)
B. Cash flow from investing Activities:
Purchase of Asset
Sale of Asset
Interest on Fixed Deposit
Increase in security deposit
Dividend Received
For the year ended 31.03.2015
4114959
3204153
323287
3562
(134091)
(8933)
(604000)
6898937
(123219)
(427707)
(985487)
370223
494277
260000
6487024
(822130)
5664894
(8151411)
16000
134091
(207474)
604000
Net cash used in investing Activities (B)
(7604794)
C. Cash flow from Financing Activities:
Loan Received from Directors
Interest paid to CCAL
Interest paid to Directors
Dividend Paid
Net Cash from Financing Activities (C)
1000000
(323287)
(3562)
(2649203)
(1976052)
Net Increase/Decrease in Cash & Cash Equivalents (A+B+C)
Cash & Cash Equivalents as at 01.04.2014 (Opening Balance)
Cash & Cash Equivalents as at 31.03.2015 (Closing Balance)
(3915952)
4840244
924292
17
19
Casino Hotels Ltd.
CIN-U55101KL1980PLC003184
Casino Hotels Limited
T B ROAD, THRISSUR 680021
Note A:Share Capital
NOTES FORMING PART OF ACCOUNTS
As at 31st March 2015
As at 31st March 2014
Number
Rs
Number
Rs
Authorised
Equity shares of Rs.5000/- each
7200
36000000
7200
36000000
Issued, Subscribed & Paid Up
Fully paid up
Equity shares of Rs.5000/- each
6246
31230000
6246
31230000
Disclosure pursuant to Note No.A in respect of Part I Schedule VI of the Companies Act
Particulars
Equity shares
Equity shares
Number
Rs
Number
Shares outstanding at the beginning of the year
Shares Issued during the year
Shares bought back during the year
Shares outstanding at the end of the year
Rs
31230000
6246
31230000
Nil
Nil
Nil
Nil
Nil
Nil
31230000
6246
31230000
31230000
31230000
Company has only equity share capital and not a subsidiary company. The following shareholders are holding more than 5% of share
capital.
Name of shareholder
Mr A V Jacob
354
5.67
Mr K C Thomas
351
5.62
Company has not issued shares for consideration other than cash, or issued any bonus shares or bought back any shares during the
year or immediate preceeding five years.
Note B: Reserves & Surplus
(a) General reserve
Opening balance
Add: Addition / (Deletion)
Closing balance
(b) Revaluation Reserve
Opening balance
Add: Addition / (Deletion)
Closing balance
(c) Security premium
Opening balance
Add: Addition / (Deletion)
Closing balance
(d) Surplus / Loss
Opening balance
Add: Net Profit for the year
Add: Transfer from Reserves
6246
Nil
Nil
6246
As at 31st March 2015
As at 31st March 2014
1318441
200000
1518441
1193441
125000
1318441
3227690
Nil
3227690
3227690
Nil
3227690
660000
Nil
660000
660000
Nil
660000
6362
36895
3350520
2978870
Nil
Nil
3356882
3015765
Less: Proposed dividend
2498400
2498400
Tax on dividend
511423
386003
Less: Transfer to General Reserve
200000
125000
Closing balance
147059
6362
Total (a + b + c + d)
5553190
5212493
Company has no other reserve in the nature of capital redemption reserve, debenture redemption reserve and share option outstanding
account.
20
18
Casino Hotels Ltd.
CIN-U55101KL1980PLC003184
As a t 31st March 2015
As a t 31st March 2014
Note C: Lon g-term borrowings
Loan from Casio Cultura l A uditorium L td
Loan form Directors
4000000
4000000
1000000
Nil
5000000
4000000
Compa ny has ava ile d loa n from Casino Cultural Auditorium L td., a c om pany in w hic h directors a re interes ted @ 10% p.a. on the
security of sec ond c harge of the e quitable mortgage of the prope rty of the c om pany.
Note D: Deferred tax Liability (Net)
Compon ents of net deferred tax Liability
Deferred tax assets:
Nil
Nil
Deferred tax liability
Depreciation on fixed asset
3565218
3622909
Net deferred tax liability
3565218
3622909
Net defe rre d lia bility as on 31.03.2015 c om pute d in com plia nce with the Accounting Sta nda rd 22 on accounting for ta xes on inc ome
amounted to Rs.35,65,218/- whic h is sepa rate ly disclose d in Ba lance S heet. The dec rease of deferred ta x liability as on 31.03.2015
whe n c om pare d to 31.03.2014 c omes to Rs.57,691/- is de bite d to ta x expenses account during the year.
Note E: Other lon g term liab ilities
Rent security depos it
Note F: Sh ort term b orrowings
Bank over dra ft : Fede ral Bank Limited
On the security of equitable mortagaged property
Note G: Oth er Current Liabilities :
Expenses payable
Unpaid dividend
1017100
1017100
391442
21219
2257254
768400
3025654
1762977
533200
2296177
Note H: Short-term provis ions
Proposed dividend & tax thereon
Provis ion for income tax
3009823
2884403
260000
Nil
3269823
2884403
The Board has recom mended divide nd @ 8% and a n a mount of Rs .30,09,823/- has bee n provided for divide nd and ta x the reon.
Note I : Fixed ass ets Attach ed s eparately
35562760
Company has no intangible assets, intangible assets under development
Note J: Non -cu rrent Investments
604 E quity sha res of Rs .5000/- eac h of Cas ino Cultura l A uditorium
Ltd (Unquoted) market value Rs.30,20,000/Note K: Oth er n on cu rren t ass et:
Security deposit
Note L: Trade Receivables
Unsec ure d c ons idere d good due m ore tha n s ix m onths
Unsecured considered good others
Note M: Cas h and cas h eq uivalents
Balance with banks
Cas h on ha nd
33597518
3020000
3020000
868489
661015
814010
814010
7239
379064
386303
863616
60676
924292
4811749
28495
4840244
19
21
Casino Hotels Ltd.
CIN-U55101KL1980PLC003184
Note I: FIXED ASSETS AS ON 31.03.2015
Gross Block
Particulars
Cost as on
01.04.14
Depreciation Block
Addition Disposal Cost as on
31.03.15
Land
4800526
0
0
Building
42223019 1593679
0
Air condition plant
7729113
0
0
Refrigerator, cooling
equipments
1935258 1391781
0
Motor pumpset
& water heater
791002
0
0
Equipments
711380 119336.5
0
Computer
797168 165238
0
Musical instruments
& TV Set
759773
39700
0
Kitchen equipments
1912761
67975
0
Bakery machinery
395104 114889
0
Transformer
4446668
0
0
Generator
3303911
0
0
Name Board
182015
55500
0
Motor cycle
44122
65610 44122
Bio Gas Plant
316430
0
0
Fire fighting
Equipments
26212
0
0
EPABX system
449366
0
0
Lift installation
1290000
0
0
Furniture & fittings
3843706 1246216
0
Total
71957534 4859924 44122
Previous year
69205331 2752203
Nil
Capital work-in-Progress
Building under
Construction
7162800 3291487
0
Upto
01.04.14
Additions Disposal
4800526
Nil
Nil
43816698 19433045 1270479
7729113 6575110 423811
Nil
0
0
Net Block
Upto
31.03.15
As on
31.03.15
As on
31.03.14
Nil 4800526 4800526
20703524 23113174 22789974
6998921
730192 1154003
3327039
1181568
243383
0
1424951
1902088
753690
791002
830716.5
962406
702016
337672
718154
26773
85757
75337
0
0
0
728789
423429
793491
62213
407288
168915
88986
373708
79014
799473
1980736
509993
446668
3303911
237515
65610
316430
597085
1133010
294316
411460
2297234
90308
37055
182823
43157
0
153378
0
21681
0
6929
0
185352
0
18782
0
633 37055
27994
0
640242
1286388
315997
418389
2482586
109090
633
210817
159231
694348
193996
28279
821325
128425
64977
105613
162688
779751
100788
35208
1006677
91707
7067
133607
26212
13070
2620
0
449366
405971
20927
0
1290000
499531 152259
0
5089922 3450588 128363
0
76773336 38360016 2887615 37055
71957534 36275632 2084384
Nil
10454287
1328654
316538
0
15690
10522
13142
426898
22468
43395
651790
638210
790469
3578951 1510971
393118
41210576 35562760 33597518
38360016 33597518 32929699
1645192
8809095
5834146
Balance with banks represent the balance maintaining with various banks in current account Rs.8,63,616/- of which Rs.7,68,400/earmarked for unpaid dividend. Currently the company is not having term deposits with maturity period of more than 12 months.
Except the deposit earmarked for the unpaid dividend account no deposits are held as margin money or security or guarantee to any
liability.
Note N: Other current assets
Prepaid expenses
Other receivables
146060
1877187
2023247
102410
935350
1037760
Note O: Revenue from operations
Sales
Room rent
Other income
49074167
36587163
16448432
15144418
1829284
1310810
67351883
53042391.00
Company is engaged in hospitality services and income from operation represent the income generated from conducting of restaurant,
bar, bakery and other allied activities.
22
20
Casino Hotels Ltd.
CIN-U55101KL1980PLC003184
Note P: Other income
Shop room rent
Interest
Dividend
Share transfer fee
Note Q: Cost of materials consumed
(a) Provision beverages & smokes
Opening stock
Purchases
Less: Closing stock
(b) Wine & Liquor
Opening stock
Purchases
Less: Closing stock
(c) Other direct expenses:
Bar licence fee
Fuel & gas
Electricity & water
Freight and forwarding charges
Total (a + b +c)
Note R: Employee benefit expenses
Salary and bonus to staff
Note S: Other expenses
Printing and stationery
Postage and telephone
Insurance
Travelling
Sales tax and turnover tax paid
Repairs & maintenance - Others
Association Membership fee
Audit fee
Business promotion expenses
Rates, tax and filing fee
Legal and professional charges
Sitting fee
Internal audit fee
Advertisement
Donation
News paper and periodicals
1349322
134091
604000
50
2087463
1345850
206440
543600
130
2096020
456420
14541928
14998348
593391
14404957
249607
11890570
12140177
456420
11683757
450895
5938252
6389147
437143
5952004
652722
3269409
3922131
450895
3471236
2380000
1806089
6855785
127185
11169059
31526020
2380000
2273718
6167833
73403
10894954
26049947
17334993
17334993
15546793
15546793
1294262
298390
56019
172568
1626854
7365746
49228
48270
210489
746682
36770
222000
161798
131105
10000
225760
12655941
938061
319166
63057
29610
1006497
3168793
20655
48000
254817
371533
69045
197000
134832
26000
7150
104473
6758689
Note T:
A. General Information
The company is engaged in hospitality service and conducting hotel business with three star facilities. The company is conducting
bar, restaurant, bakery and other allied services which is necessary for the conducting of hospitality service.
23
21
Casino Hotels Ltd.
CIN-U55101KL1980PLC003184
B. Accounting policies
Significant accounting policies adopted in the preparation and presentation of accounts are as under:
1. Basis of Accounting:
The accounts are prepared on accrual basis under the historical cost convention in accordance with the Accounting Standards
issued by the Companies (Accounting Standards) Rules, 2006.
2. Fixed Assets:
Fixed Assets are stated at cost less accumulated depreciation.
3. Depreciation:
Depreciation of Fixed Assets has been provided on written down value method at the rates computed based on useful lives
specified in Part C and residual value specified in Part A of Schedule II of Companies Act, 2013.
4. Inventories
The closing stock is stated at lower of cost or net realizable value.
5. Recognition of Income & Expenditure:
Generally items of income and Expenditure account are recognized on accrual basis.
6. Contingencies and Events occurred after Balance Sheet date:
There are no contingencies and events of material nature occurred after balance sheet date which has an effect on the financial
statement of the year.
7. Prior period and Extra -ordinary items:
There are no prior periods or extra-ordinary items of a material nature, which has to be reported during the year.
8. Changes in Accounting Policies:
There are no material changes in the accounting policies followed by the company during the year.
9. Foreign Exchange transactions
The company has no dealings in foreign exchange during the year.
10. Investments
The closing stock is stated at lower of cost or net realizable value.
11. Retirement Benefits:
The company has introduced Provident Fund scheme and Employees State Insurance Scheme to the employees. The company
contributes to Gratuity Fund by taking Group Policy with Life Insurance Corporation of India for future payment of gratuity to
retiring employees. The premium thereon has been so adjusted as to cover the liability under the Scheme in respect of all
employees at the end of their future anticipated service with the company.
12. Uses of estimates
The preparation of financial statements requires management to make certain estimate and assumption that effect the amount
reported in the financial statements and notes there too. Difference between actual and estimates are recognized in the period in
which they materialize.
13. Provision for Taxation & Deferred Tax
Provision for taxation is made on the basis of the estimated tax liability with adjustment for deterred tax in terms of accounting
standard 22 issued by the Institute of Chartered Accountants of India. Deferred tax assets or liabilities are based on temporary
differences between the value of assets and liabilities recorded in the Financial Statements and those used for Income Tax purposes.
Tax rates applicable to future periods are used to calculate year-end Deferred Tax Assets or Liabilities. Deferred Tax liability are
recognized only to the extend that there is virtual certainty of realization. Other Deferred Tax liability are recognized and carried
forward to the extent that there is reasonable certainty of realization.
14. Additional disclosures as per Schedule VI of the Companies Act
a)
The company is a Small and Medium Company (SMC) as defined in the general instruction in respect of the Accounting
standards specified under Section 133 of Companies Act 2013, read with Rule 7 of Companies (Accounts) Rules, 2014. Accordingly,
the company has complied with the Accounting Standards as applicable to a small and Medium Sized Company.
b) Contingent Liabilities not Provided for
31.03.2015
Nil
31.03.2014
Nil
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Casino Hotels Ltd.
CIN-U55101KL1980PLC003184
c) Particulars regarding investments:
(i) Name of the Body corporate is in which investment is made: Casino Cultural Auditorium Limited, T.B. Road, Thrissur.
(ii) Date of investment:
30.07.1992
50 shares
22.09.1993
100 shares
29.11.1993
200 shares
16.12.1993
250 shares
19.04.2000
4 shares
(iii) Whether the Body Corporate in the same group: Yes. A sister concern under the same Management.
d) The company has taken unsecured loan amounting to Rs.40 lacs from Casino Cultural Auditorium as associate concern. The
terms and conditions including rate of interest are not prejudicial to the interest of the company.
e) Additional information in pursuant to the provisions of Part-II of Schedule VI of the Companies Act, 1956;
a. Licenced capacity
N.A
N.A
b. Installed capacity
N.A.
N.A.
c. Actual production
N.A.
N.A.
d. Details of goods produced and sold:
Since the company belongs to hotel industry goods purchased, produced and sold are in different varieties and units of
measurements. It is practically difficult to maintain day-to-day stock register for all items dealt with the company. The
Ministry of Finance, Department of Company affairs, vide their letter No.46/60/2006/CL-III dated 27.03.2006 has granted
exemption to the company to furnish quantitative details as per Part-II of Schedule VI of Para 3(i)(a) and 3(ii)(d) expired on
31.03.2009 and fresh application has been submitted to grant exemption and order is awaiting. On the basis of the terms of
exemption issued earlier the following particulars are given regarding the value of goods dealt with the company.
Particulars
Opening stock
Purchases
Closing stock
Consumption
Sales
As on 31.03.2015
Wine & Liquor
Provision,Beverages,
A
Smokes A
4,50,895
4,56,420
59,38,252
1,45,41,928
4,37,143
59,33,91
59,52,004
1,44,04,957
1,43,76,686
3,46,97,481
As on 31.03.2014
Wine & Liquor
Provision,Beverages,
A
Smokes A
6,52,722
2,49,607
32,69,409
1,18,90,570
4,50,895
4,56,420
34,71,236
1,16,83,757
89,93,579
2,75,93,584
e. Details regarding imported & indigenous materials consumed and its percentage:
Only indigenous materials of different varieties and units consumed.
f. Value of imports during the year:
Nil
Nil
g. Earnings in foreign currency
Nil
Nil
h. Expenditure in foreign currency
Nil
Nil
As per our report of even date
For Abraham & Jose
Chartered Accountants
(FRN 000010S)
Sd/Jose Pottokaran (No. 12056)
Partner
Thrissur
13.07.2015
DIRECTORS
1. Sri. A.K. Varghese (DIN 00047012)
2. Sri. Kodakkat Kesavan (DIN 01163544)
3. Dr. Jose Paul Chandy (DIN 01605754)
4. Sri. E.P.K. Balakrishnan (DIN 01541508)
5. Sri. M.S. Mathew (DIN 01605754)
6. Sri. Fijo Jose (DIN 00450473)
7. Sri. K.C. Thomas (DIN 00163306)
8. Sri. P.J. France (DIN 00625779)
9. Mrs. R.N. Rema (DIN 01267631)
Sd/Sd/Sd/Sd/Sd/Sd/Sd/Sd/Sd/-
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