COSMOS APPLIANCES PRIVATE LIMITED

19, GANESH CHANDRA AVENUE ROOM NO. 14A,

4TH FLOOR, KOLKATA WB 700013
CIN: U25209WB1996PTC078267, E-mail:[email protected] Tel No.: 9830126268

DIRECTORS’ REPORT

TO THE MEMBERS OF
COSMOS APPLIANCES PRIVATE LIMITED
Your Directors hereby present the Sixteenth Annual Report together with the Audited Statement of Accounts of
your Company for the Year Ended 31st March, 2018.

1. Operation
F.Y. 2017-18 (`) F.Y. 2016-17 (`)
Total Income 6,93,067.44 7,89,716.00
Total Expenses 6,76,823.08 7,50,500.34
Profit/(Loss) before Tax 16,224.36 39,215.66
Less Current Income Tax & Earlier year (4,185.00) (11,715.00)
Profit / (Loss) for the period from continuing operations & Profit
12,059.36 27,500.66
/ (Loss) for the Year
Profit & Loss brought forward from previous Year 19,976.46 (7,524.20)
Profit & Loss carried forward to next Year 32,035.82 19,976.46
Earnings per Share (Basic) 0.18 0.41
Earnings per Share (Diluted) 0.18 0.41

2. Auditors

M/s J Chowdhury & Associates, Chartered Accountants, were appointed as Statutory Auditors for a period of 5
years in the Annual General Meeting held on 29th Day of September, 2014. The Company has received a certificate
from the above Auditors to the effect that their continuance of appointment would be in accordance with the
provisions of Section 141 of the Companies Act, 2013

3. Accounts and Auditors’ Observation

The observations of the Auditors are explained wherever necessary in the appropriate notes to the accounts. There
were no qualifications, reservations or adverse remarks made by the Auditors in their report. The provisions relating
to submission of Secretarial Audit Report is not applicable to the Company.

4. Dividend

Your Directors do not recommend any Dividend for the financial year ended 31st March, 2018.

5. Company’s Policy on Directors’ Appointment remuneration, determining qualifications Etc.

Disclosures requirement on company policy on directors’ appointment and remuneration including criteria for
determining qualifications, positive attributes, independence of a director and other matters provided under section
178(1) and section 178(3) of Companies Act, 2013 is not applicable to the Company.
6. Directors:

Disclosure as required to be given under the provision of subsection (10) of section 149 by independent directors
under subsection (6) of section 149 of companies Act, 2013 is not applicable to the Company.

7. Material Changes And Commitment If Any Affecting The Financial Position Of The Company Occurred
Between The End Of The Financial Year To Which This Financial Statements Relate And The Date Of
The Report

No material changes and commitments affecting the financial position of the Company occurred during the financial
year to which these financial statements relate on the date of this report

8. Statement Concerning Development And Implementation Of Risk Management Policy Of The Company

The Company does not have any Risk Management Policy as the elements of risk threatening the Company’s
existence are very minimal.

9. Deposits

The Company has neither accepted nor renewed any deposits during the year under review.

10. Loans, Guarantee, Investment Etc. by Company [Reporting under Section 186(4)]:

As required to report under section 186(4), the company, during the financial year, has not granted unsecured loan to
any party covered in the Register maintained U/s 189 of the Companies Act, 2013.

11. Particulars of contracts or arrangements [Reporting under section 188 (2)]:

During the year, the company has not entered into any contract or arrangement with parties covered under section
188 of the Companies Act, 2013 and hence reporting as required to be furnished under the provisions of Section 188
(2) of the Companies Act, 2013 is not applicable to the Company.

12. Board Meetings

The Board of Directors duly met FIVE times on 30/06/2017, 07/09/2017, 02/11/2017, 12/02/2018, and 14/03/2018 in
respect of which meetings proper notices were given and the proceedings were properly recorded and signed
including the circular resolutions passed in the Minutes Book maintained for the Mr. Anant Bajla and Mrs. Manju
Bajla, Directors of the company were present in all the Board meetings.

13. Corporate Social Responsibilities

Corporate Social Responsibility under section 135(1) of Companies Act, 2013 is not applicable, as the Company
does not have net worth of ` 500.00 crores, does not have turnover ` 1,000.00 crores and does not have net profit of
`5.00 crores during the financial year and hence the company is exempted to comply the provision of section
134(4)(o) of Companies Act, 2013.
14. Personnel, Energy Conservation, Technology Absorption Etc.

Information as required to be furnished under the provisions of Section 134(3) (m) of the Companies Act, 2013 are
not applicable to the Company.

15. Directors’ Responsibility Statement

As required under Section 134(3) (c) of the Companies Act, 2013, we hereby confirm that during the year ended 31st
March 2018:

 We had followed applicable accounting standards in the Preparation of Annual Accounts

 We had selected such accounting policies and applied them consistently and made judgement and estimates
that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the
end of the Financial Period and of the profit or loss of the Company for that period.
 We had taken proper and sufficient care for the maintenance of adequate accounting records in Accordance
with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities.
 We had prepared the annual accounts on a going concern basis.
 We had devised proper systems to ensure compliance with the provisions of all applicable laws and that such
systems were adequate and operating effectively.

16. Extract of Annual Return:

The extract of the annual return as provided under subsection (3) of Section 92 is Annexed as MGT-9.

17. Acknowledgements

Your Directors place on record their sincere thanks to bankers, business associates, consultants, and various
Government Authorities for their continued support extended to your Companies activities during the year under
review. Your Directors also acknowledges gratefully the shareholders for their support and confidence reposed on
your Company.

Your Directors look forward to the future with a new hope.

REGISTERED OFFICE For and on Behalf of the Board

19, Ganesh Chandra Avenue -SD-

Kolkata-7000013
Anant Bajla
Dated: The 30th Day of June, 2018 Director
DIN: 01968494
 Form No. MGT-9

EXTRACT OF ANNUAL RETURN

As on the financial year ended on 31st March, 2018
[Pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the
Companies (Management and Administration) Rules, 2014]

I. REGISTRATION AND OTHER DETAILS:

i) CIN : U25209WB1996PTC078267
ii) Registration Date : 21/03/1996
iii) Name of the Company : COSMOS APPLIANCES PRIVATE LIMITED
iv) Category / Sub-Category of the Company : Company Limited by Shares - Indian Non Government Company
19, GANESH CHANDRA AVENUE ROOM NO. 14A,
v) Address of the Registered office and contact details :
4TH FLOOR, KOLKATA WB 700013
vi) Whether listed company : Unlisted
Name, Address and Contact details of Registrar and Transfer Agent,
vii) : Not Applicable
if any

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

All the business activities contributing 10 % or more of the total turnover of the company shall be stated:-

Name and Description of % to total turnover of the

Sl. No. NIC Code of the Product/service
main products/services company
1 INTEREST INCOME NA 18.45
2 FABRIC TRADING 99611312 80.24

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES -

Holding/ Subsidiary/ % of shares Applicable

S. No Name of the Company Address CIN/GLN
Associate held Section

NOT APPLICABLE
IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)

i) Category-wise Share Holding

No. of Shares held at the beginning of the year No. of Shares held at the end of the year % Change
Category of Shareholders during the
% of Total % of Total year
Demat Physical Total Demat Physical Total
Shares Shares
A. Promoters
(1) Indian
a) Individual/HUF - 12800 12800 18.91 - 12800 12800 18.91 -
b) Central Govt - - - - - - - - -
c) State Govt (s) - - - - - - - - -
d) Bodies Corp. - 54900 54900 81.09 - 54900 54900 81.09 -
e) Banks / FI - - - - - - - - -
f) Any Other…. - - - - - - - - -
Sub-total (A) (1):- - 67700 67700 100.00 - 67700 67700 100.00 -
(2) Foreign
a) NRIs - Individuals - - - - - - - - -
b) Other – Individuals - - - - - - - - -
c) Bodies Corp. - - - - - - - - -
d) Banks / FI - - - - - - - - -
e) Any Other…. - - - - - - - - -
Sub-total (A) (2):- - - - - - - - - -
Total shareholding of Promoter
- 67700 67700 100.00 - 67700 67700 100.00 -
(A)=(A)(1)+(A)(2)
B. Public Shareholding
1. Institutions
a) Mutual Funds - - - - - - - - -
b) Banks / FI - - - - - - - - -
c) Central Govt - - - - - - - - -
d) State Govt(s) - - - - - - - - -
e) Venture Capital Funds - - - - - - - - -
f) Insurance Companies - - - - - - - - -
g) FIIs - - - - - - - - -
h) Foreign Venture Capital Funds - - - - - - - - -
i) Others (specify) - - - - - - - - -
Sub-total (B)(1):- - - - - - - - - -
2. Non-Institutions
a) Bodies Corp.
i) Indian - - - - - - - - -
ii) Overseas - - - - - - - - -
b) Individuals
i) Individual shareholders holding
nominal share capital upto Rs. 1 - - - - - - - - -
lakh
ii) Individual shareholders
holding nominal share capital in - - - - - - - - -
excess of Rs 1 lakh
c) Others (specify) - - - - - - - - -
Sub-total (B)(2):- - - - - - - - - -
Total Public Shareholding
- - - - - - - - -
(B)=(B)(1)+(B)(2)

C. Shares held by Custodian for

- - - - - - - - -
GDRs & ADRs

Grand Total (A+B+C) - 67700 67700 100.00 - 67700 67700 100.00 -

(ii) Shareholding of Promoters

Shareholding at the beginning of the year Share holding at the end of the year % change in
%of Shares share
% of total % of total %of Shares Pledged/
Sl No. Shareholder’s Name Pledged/ holding
No. Of Shares Shares of the No. Of Shares Shares of the encumbered to total
encumbered to during the
company company shares
total shares year

1 Ashok Bajla 7800 11.52 - 7800 11.52 - -

2 Savitri Bajla 5000 7.39 - 5000 7.39 - -

Cosmos Vinimay Pvt.

3 16150 23.86 - 16150 23.86 - -
Ltd.

Utkal Engineering Pvt.

4 7000 10.34 - 7000 10.34 - -
Ltd.

Magnum Hitech
5 15750 23.26 - 15750 23.26 - -
Industries Pvt. Ltd.

6 Micro Lying Pvt. Ltd. 16000 23.63 - 16000 23.63 - -

Total 67700 100.00 - 67700.00 100.00 - -

(iii) Change in Promoters’ Shareholding

Cumulative Shareholding During the
Share Holding
Increase/ year (01/04/17 to 31/03/18)
Sl No. Name No of Shares at beginning % of total Date Decrease in Reason % of total
(01/04/17)/ end of the Year Shares of the Share holding No of Shares Shares of the
(31/03/18) company company
7800 11.52 01/04/2017 - - 7800 11.52
1 Ashok Bajla No Change During the Year
7800 11.52 31/03/2018 - - 7800 11.52
5000 7.39 01/04/2017 - - 5000 7.39
2 Savitri Bajla No Change During the Year
5000 7.39 31/03/2018 - - 5000 7.39
16150 23.86 01/04/2017 - - 16150 23.86
Cosmos Vinimay Pvt.
3 No Change During the Year
Ltd.
16150 23.86 31/03/2018 - - 16150 23.86
7000 10.34 01/04/2017 - - 7000 10.34
Utkal Engineering Pvt.
4 No Change During the Year
Ltd.
7000 10.34 31/03/2018 - - 7000 10.34
15750 23.26 01/04/2017 - - 15750 23.26
Magnum Hitech
5 No Change During the Year
Industries Pvt. Ltd.
15750 23.26 31/03/2018 - - 15750 23.26
16000 23.63 01/04/2017 - - 16000 23.63
6 Micro Lying Pvt. Ltd. No Change During the Year
16000 23.63 31/03/2018 - - 16000 23.63

(iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs):
Cumulative Shareholding During the
Share Holding
Increase/ year (01/04/17 to 31/03/18)
Sl No. Name No of Shares at beginning % of total Date Decrease in Reason % of total
(01/04/17)/ end of the Year Shares of the Share holding No of Shares Shares of the
(31/03/18) company company

NOT APPLICABLE

(v) Shareholding of Directors and Key Managerial Personnel:

Cumulative Shareholding During the
Share Holding
Increase/ year (01/04/17 to 31/03/18)
Sl No. Name No of Shares at beginning % of total Date Decrease in Reason % of total
(01/04/17)/ end of the Year Shares of the Share holding No of Shares Shares of the
(31/03/18) company company

NOT APPLICABLE
V. INDEBTEDNESS

Indebtedness of the Company including interest outstanding/accrued but not due for payment

Secured Loans Total

Unsecured Loans Deposits
excluding deposits Indebtedness
Indebtedness at the beginning of the
financial year
i) Principal Amount 2130127 400000 - 2530127
ii) Interest due but not paid - - - -
iii) Interest accrued but not due - - - -
Total (i+ii+iii) 2130127 400000 - 2530127
Change in Indebtedness during the
financial year
· Addition - 50000 - 50000
· Reduction 2130127 - - 2130127
Net Change -2130127 50000 - -2080127
Indebtedness at the end of the financial
year
i) Principal Amount - 450000 - 450000
ii) Interest due but not paid - - - -
iii) Interest accrued but not due - - - -
Total (i+ii+iii) - 450000 - 450000
VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

A. Remuneration To Managing Director, Whole-Time Directors And/Or Manager:

Name of MD/WTD/ Manager Total Amount
Sl. no. Particulars of Remuneration
--- --- ---
1 Gross salary
(a) Salary as per provisions contained in section 17(1)
- - - -
of the Income-tax Act, 1961
(b) Value of perquisites u/s 17(2) Income-tax Act,
- - - -
1961
(c) Profits in lieu of salary under section 17(3) Income-
- - - -
tax Act, 1961
2 Stock Option - - - -
3 Sweat Equity - - - -
4 Commission
- as % of profit - - - -
- others, specify… - - - -
5 Others, please specify - - - -
Total (A) - - - -
Ceiling as per the Act - - - -

B. Remuneration To Other Directors:

Name of Director Total Amount
Sl. no. Particulars of Remuneration
--- --- ---
3 Independent Directors
· Fee for attending board/committee meetings - - - -
· Commission - - - -
· Others, please specify - - - -
Total (1) - - - -
4 Other Non-Executive Directors
· Fee for attending board/committee meetings - - - -
· Commission - - - -
· Others, please specify - - - -
Total (2) - - - -
Total (B)=(1+2) - - - -
Total Managerial Remuneration - - - -
Overall Ceiling as per the Act - - - -

C. Remuneration To Key Managerial Personnel Other Than Md/Manager/Wtd

Key Managerial Personnel
Sl. no. Particulars of Remuneration Company
CEO CFO Total Amount
Secretary
1 Gross salary
(a) Salary as per provisions contained in section 17(1)
- - - -
of the Income-tax Act, 1961
(b) Value of perquisites u/s 17(2) Income-tax Act,
1961 - - - -
(c) Profits in lieu of salary under section 17(3) Income-
tax Act, 1961 - - - -
2 Stock Option - - - -
3 Sweat Equity - - - -
4 Commission
- as % of profit - - - -
- others, specify… - - - -
5 Others, please specify - - - -
Total - - - -
VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:

Details of Penalty/ Appeal made,

Section of the Brief Authority
Type Punishment/Compound if any (give
Companies Act Description [RD/NCLT/COURT]
ing fees imposed Details)
A. COMPANY
Penalty - - - - -
Punishment - - - - -
Compounding - - - - -
B. DIRECTORS
Penalty - - - - -
Punishment - - - - -
Compounding - - - - -
C. OTHER OFFICERS IN DEFAULT
Penalty - - - - -
Punishment - - - - -
Compounding - - - - -
INDEPENDENT AUDITOR’S REPORT
TO THE MEMBERS OF
COSMOS APPLIANCES PRIVATE LIMITED
Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of COSMOS APPLIANCES PRIVATE
LIMITED (‘the Company’), which comprise the Balance Sheet as at 31st March 2018 and the Statement of
Profit and Loss for the year then ended, the Cash Flow Statement for the year then ended and a summary of
significant accounting policies and other explanatory information.

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, financial performance and cash flows 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 the Companies (Accounts) Rules, 2014. This responsibility also
includes maintenance of adequate accounting records in accordance with the provisions of the Act for
safeguarding 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 and auditing standards and matters which
are required to be included in the audit report under the provisions of the Act and the Rules made thereunder.

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 the 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 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 the accounting policies used and the
reasonableness of the accounting estimates made by the 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,

a) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March 2018.

b) In the case of the Statement of Profit & Loss, of the Profit for the year ended on that date.

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. The Companies (Auditor’s Report) Order, 2016 is not applicable, as the Company is a Private Limited
Company with a paid up Capital and reserves of not more than one crore rupees as on balance sheet date
and does not have borrowings exceeding one crore rupees from any bank or financial institution at any
point of time during the financial year and does not have total revenue as disclosed in Schedule III to
the Companies Act, 2013 (including revenue from discontinuing operations) exceeding ten crore rupees
at any point of time during the financial year as per the financial statements. Hence the company is
exempted to comply with the reporting requirements on the matter specified in paragraph 3 & 4 of the
Companies (Auditor’s Report) Order, 2016 issued by Central Government of India in terms of clause
(42) of section 2 of the Companies Act, 2013.

2. 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 account as required by law have been kept by the Company so far as
it appears from our examination of those books;

(c) the Balance Sheet and the 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
and the Companies (Accounting Standards) Amendment, 2017;

(e) on the basis of the written representations received from the directors as on 31st March 2018, and
taken on record by the Board of Directors, none of the directors is disqualified as on 31st March
2018, from being appointed as a director in terms of Section 164 (2) of the Act;
 (f) With respect to the adequacy of the Internal financial control over financial reporting of the
Company and the operating effectiveness of such controls vide notification no. G.S.R 583(E) dated
13th June 2017, shall not apply for this company as per Chapter X clause (i) of section 143(3) of
Companies Act 2013”; and

(g) 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,as amended, in our opinion and to the best of
our information and according to the explanations given to us:

i. The Company does not have any pending litigations which would impact its financial
positions.

ii. The Company did not have any long-term contracts including derivative contracts for which
there were any material foreseeable losses.

iii. there were no amounts which were required to be transferred to the Investor Education and
Protection Fund by the Company

For J Chowdhury & Associates

Chartered Accountants
Firm Registration No: 327197E

-SD-
Jitesh Chowdhury
Proprietor
Membership No: 069621

Place: Kolkata
Dated: The 30th Day of June, 2018
 COSMOS APPLIANCES PRIVATE LIMITED
BALANCE SHEET AS AT 31st MARCH, 2018

31st March,2018 31st March,2017

Particulars Notes
(`) (`)
I. EQUITY AND LIABILITIES

1 Shareholders’ Funds
(a) Share Capital 3 67,70,000.00 67,70,000.00
(b) Reserves and Surplus 4 12,32,035.82 12,19,976.46
80,02,035.82 79,89,976.46
2 Current Liabilities
(a) Short-Term Borrowings 5 7,39,811.00 25,30,126.63
(b) Trade Payables 6 8,700.00 5,45,190.00
TOTAL 87,50,546.82 1,10,65,293.09

II. ASSETS

1 Non-Current Assets
(a) Non-Current Investments 7 43,65,564.09 30,15,564.09

1 Current Assets
(a) Trade Receivable 8 - 4,49,502.00
(b) Cash and Cash Equivalents 9 12,005.73 26,17,663.00
(c) Short Term Loans and Advances 10 43,64,409.00 49,74,598.00
(d) Other Current Assets 11 8,568.00 7,966.00
TOTAL 87,50,546.82 1,10,65,293.09
- -
Summary of significant accounting policies 2
The accompanying notes are an integral part of the financial statements

As per our report of even date For and on behalf of the board of directors

For J Chowdhury & Associates

Firm Registration No:327197E
Chartered Accountants -SD-
-Director
-SD- Anant Bajla
Jitesh Chowdhury DIN:01968494
Proprietor
Membership No. 069621 -SD-
-Director
Place: Kolkata Manju Bajla
Date: The 30th Day of June, 2018 DIN:01968584
 COSMOS APPLIANCES PRIVATE LIMITED
PROFIT & LOSS STATEMENT FOR THE YEAR ENDED 31st MARCH, 2018

Figures for the current Figures for the previous

Particulars Notes reporting period reporting period

(`) (`)
Revenue
Revenue from Operations 12 5,56,148.00 5,92,596.00
Other Income 13 1,36,919.44 1,97,120.00
Total Revenue 6,93,067.44 7,89,716.00

Expenses
Purchases of Stock-in-Trade 4,15,246.00 5,28,690.00
Employee Benefit Expense 14 35,250.00 1,19,150.00
Finance Cost 15 1,73,331.00 59,199.00
Other Expenses 16 52,996.08 43,461.34
Total Expenses 6,76,823.08 7,50,500.34
Earnings before Tax
(EBT) 16,244.36 39,215.66
Profit/(Loss) before Tax 16,244.36 39,215.66
Tax Expense - Current Tax (4,185.00) (11,715.00)
Profit/(Loss) for the year 12,059.36 27,500.66
Earnings per equity share (F.V. of ` 100/- each)

Basic 17 0.18 0.41

Diluted 17 0.18 0.41

Summary of significant accounting policies 2

The accompanying notes are an integral part of the financial statements

As per our report of even date

For J Chowdhury & Associates For and on behalf of the board of directors
Firm Registration No:327197E
Chartered Accountants
-SD-
-SD- -Director
Jitesh Chowdhury Anant Bajla
Proprietor DIN:01968494
Membership No. 069621
-SD-
-Director
Place: Kolkata Manju Bajla
Date: The 30th Day of June, 2018 DIN:01968584
 COSMOS APPLIANCES PRIVATE LIMITED
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2018

Particulars Figures for the period ended 31/03/2018 Figures for the period ended 31/03/2017

(`) (`) (`) (`)

A. Cash flows from operating activities:
I Net profit before taxation, and extraordinary item 16,244.36 39,215.66
II Adjustments for:
Finance Cost 1,73,331.00 59,199.00
Interest Income 1,36,919.44 1,97,120.00
III Cash flow from operating activities before
working capital changes (I+II) 3,26,494.80 2,95,534.66
IV Increase/(Decrease) in current liabilities
-Trade Payables (5,36,490.00) 10,890.00

V (Increase)/Decrease in current assets

-Trade Receivables 4,49,502.00 90,308.00
-Short-Term Loans & Advances 6,10,189.00 (23,00,000.00)

VI Cash generated from operations (III+IV+V) 8,49,695.80 (19,03,267.34)

VII Income tax paid/Received (4,787.00) (10,727.00)
VIII Net cash from operating activities (VI-VII) 8,44,908.80 (19,13,994.34)

B. Cash flows from investing activities:

(Increase)/Decrease in Non-current Investments (13,50,000.00)
Interest Received (1,36,919.44) (1,97,120.00)
Net cash used in investing activities (14,86,919.44) (1,97,120.00)

C. Cash flows from financing activities:

Finance Cost Paid (1,73,331.00) (59,199.00)
Increase/(Decrease) in Short-Term Borrowings (17,90,315.63) 21,30,126.63

Net cash flows from financing activities (19,63,646.63) 20,70,927.63

D. (26,05,657.27) (40,186.71)
Net increase/(decrease) in cash and cash equivalents (A+B+C)
E. Opening balance of cash and cash equivalents 26,17,663.00 26,57,849.71
F. Closing balance of cash and cash equivalents (D+E) 12,005.73 26,17,663.00
For and on behalf of the board of directors
As per our report of even date - -

For J Chowdhury & Associates

Firm Registration No:327197E -SD-
Chartered Accountants -Director
Anant Bajla
-SD- DIN:01968494
Jitesh Chowdhury
Proprietor -SD-
Membership No. 069621 -Director
Manju Bajla
Place: Kolkata DIN:01968584
Date: The 30th Day of June, 2018
Note
Significant Accounting Policies and other explanatory information for the year ended March 31, 2018
No.
1 Corporate information
Cosmos Appliances Private Limited is a private limited company domiciled in India and
incorporated under the provisions of the Companies Act, 1956. The company is into investments.

2 Significant Accounting Policies

A Basis of accounting and preparation of financial statements

The financial statements of the Company have been prepared in accordance with the Generally
Accepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standards
issued by the Institute of Chartered Accountants of India and specified under Section 129 &
Section 133 of the Companies Act 2013, read with Rule 7 of the Companies (Accounts) Rules,
2014. The financial statements unless specifically mentioned, have been prepared on accrual basis
under the historical cost convention. The accounting policies adopted in the preparation of the
financial statements are consistent with those followed in the previous year.

All assets and liabilities have been classified as current or non- current as per the criteria set out in
the Schedule III of the Companies Act, 2013.

B Use of estimates

The preparation of the financial statements in conformity with Indian GAAP requires the
Management to make estimates and assumptions considered in the reported amounts of assets and
liabilities (including contingent liabilities) and the reported income and expenses during the year.
The Management believes that the estimates used in preparation of the financial statements are
prudent and reasonable. Future results could differ due to these estimates and the differences
between the actual results and the estimates are recognized in the periods in which the results are
known / materialize.

C Revenue recognition
Sales are recognized on accrual basis in consistency with the principles laid down under AS-9 and
other relevant accounting guidelines as applicable.

D Other income

Interest income is accounted on accrual basis. Dividend income is accounted for in the year of
receipt and not in the year of declaration.

E Fixed Assets

Fixed Assets are stated at their cost of acquisition including other expenses relating to installation
and interest up to the date of putting it into use less depreciation.
F Depreciation

With the implementation of Schedule II of the Companies Act 2013, from 1st April 2014,
Depreciation on Fixed Assets is provided to the extent of depreciable amount (“the carrying
amount of the asset as on that date after retaining the residual value”) on the Straight Line Method
(SLM) Method and on pro-rata basis with reference to the day of installation/sale. Depreciation is
provided based on useful life of the assets as prescribed in Schedule II to the Companies Act,
2013. Depreciation is not charged on the Assets which are not being used for the purpose of
business/ profession.

G Cash and cash Equivalents

Cash and Cash equivalents comprise Cash and cash on deposit with Banks and Corporations. The
Company considers all highly liquid investments with a remaining maturity at the date of purchase
of three month or less and that are readily convertible to known amounts of cash to be cash
equivalents.
H Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post tax
effect of extraordinary items, if any) by the weighted average number of equity shares outstanding
during the year. Diluted earnings per share is computed by dividing the profit / (loss) after tax
(including the post tax effect of extraordinary items, if any) as adjusted for dividend, interest and
other charges to expense or income relating to the dilutive potential equity shares, by the weighted
average number of equity shares considered for deriving basic earnings per share and the weighted
average number of equity shares which could have been issued on the conversion of all dilutive
potential equity shares. Potential equity shares are deemed to be dilutive only if their conversion to
equity shares would decrease the net profit per share from continuing ordinary operations.
Potential dilutive equity shares are deemed to be converted as at the beginning of the period,
unless they have been issued at a later date. The dilutive potential equity shares are adjusted for the
proceeds receivable had the shares been actually issued at fair value (i.e. average market value of
the outstanding shares). Dilutive potential equity shares are determined independently for each
period presented. The number of equity shares and potentially dilutive equity shares are adjusted
for share splits / reverse share splits and bonus shares, as appropriate.

I Taxes on income
Current tax is the amount of tax payable on the taxable income for the year as determined in
accordance with the provisions of the Income Tax Act, 1961.

Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which gives future
economic benefits in the form of adjustment to future income tax liability, is considered as an asset
if there is convincing evidence that the Company will pay normal income tax. Accordingly, MAT
is recognized as an asset in the Balance Sheet when it is probable that future economic benefit
associated with it will flow to the Company.

Deferred tax is recognized on timing differences, being the differences between the taxable income
and the accounting income that originate in one period and are capable of reversal in one or more
subsequent periods. Deferred tax is measured using the tax rates and the tax laws enacted or
substantially enacted as at the reporting date. Deferred tax liabilities are recognized for all timing
differences. Deferred tax assets in respect of unabsorbed depreciation and carry forward of losses
are recognized only if there is virtual certainty that there will be sufficient future taxable income
available to realize such assets. Deferred tax assets are recognized for timing differences of other
items only to the extent that reasonable certainty exists that sufficient future taxable income will
be available against which these can be realized. Deferred tax assets and liabilities are offset if
such items relate to taxes on income levied by the same governing tax laws and the Company has a
legally enforceable right for such set off. Deferred tax assets are reviewed at each Balance Sheet
date for their reliability.
 Taxes are computed in compliance with applicable ICDS, as notified by the Central Board of
Direct Taxes vide notification no 87/2016, F.No 133/23/2015-TPL dated 29th September 2016.
Any difference in method/policy of preparation of books of Account and Computation of Income
shall be disclosed separately in the Notes on Account.

J Provisions and contingencies

A provision is recognized when the Company has a present obligation as a result of past events
and it is probable that an outflow of resources will be required to settle the obligation in respect of
which a reliable estimate can be made. Provisions (excluding retirement benefits) are not
discounted to their present value and are determined based on the best estimate required to settle
the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and
adjusted to reflect the current best estimates. Contingent liabilities are disclosed in the Notes.
 COSMOS APPLIANCES PRIVATE LIMITED
st
Notes to financial statements for the year ended 31 March,2018

3. a. SHARE CAPITAL
31st March 2018 31st March 2017
Particulars
Number ` Number `

Authorised
Equity Shares of ` 100/-each 1,00,000 1,00,00,000.00 1,00,000 1,00,00,000.00
1,00,000 1,00,00,000.00 1,00,000 1,00,00,000.00
Issued
Equity Shares of `100/-each 67,700 67,70,000.00 67,700 67,70,000.00

Subscribed & Paid up

Equity Shares of `100/-each fully paid in cash 67,700 67,70,000.00 67,700 67,70,000.00
Total 67,700 67,70,000.00 67,700 67,70,000.00

b. Reconciliation of the shares outstanding at the beginning and at the end of the reporting period
Equity Shares Equity Shares
Particulars
Number ` Number `
Shares outstanding at the beginning of the 67,700 67,70,000.00 67,700 67,70,000.00
year
Shares issued during the year - - - -
Shares bought back during the year - - - -
Shares outstanding at the end of the 67,700 67,70,000.00 67,700 67,70,000.00
year

c. Terms/Rights attached
The company has only one class of equity shares having a par value of ` 100/- per share. Each holder of equity
shares is entitled to one vote per share. In the event of liquidation of the company, the holders of equity shares
will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The
distribution will be in proportion to the number of equity shares held by the shareholders.

d. Details of equity shareholders holding more than 5% shares in the company

Name of Shareholder st st
31 March 2018 31 March 2017
No. of Shares held % of Holding No. of Shares held % of Holding
Ashok Bajla 7,800 11.52% 7,800 11.52%
Savitri Bajla 5,000 7.39% 5,000 7.39%
Cosmos Vinimay Pvt. Ltd. 16,150 23.86% 16,150 23.86%
Utkal Engineering Pvt. Ltd. 7,000 10.34% 7,000 10.34%
Magnum Hitech Industries Pvt. Ltd. 15,750 23.26% 15,750 23.26%
Micro Laying Pvt. Ltd. 16,000 23.63% 16,000 23.63%

As per records of the company, including its register of shareholders/members and other declarations received from
shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of
share.
 COSMOS APPLIANCES PRIVATE LIMITED
Notes to financial statements for the year ended 31st March,2018

4 RESERVES & SURPLUS

st st
As at 31 March 2018 As at 31 March 2017
Particulars
` `
a. Securities Premium Account
Share Premium 12,00,000.00 12,00,000.00
Total (a) 12,00,000.00 12,00,000.00

b.Surplus/(Deficit) in the statement of profit and loss

Balance as per last financial statements 19,976.46 (7,524.20)
(+) Net Profit/(Net Loss) for the current year 12,059.36 27,500.66

Net Surplus in the statement of profit and loss(b) 32,035.82 19,976.46

Total Reserves and Surplus (a+b) 12,32,035.82 12,19,976.46

5 SHORT-TERM BORROWINGS
st st
As at 31 March 2018 As at 31 March 2017
Particulars
` `
Secured Loan
Overdraft with ICICI Bank - 21,30,126.63
Unsecured Loans
-From Body Corporates 4,50,000.00 4,00,000.00
-From Directors & Shareholders 2,89,811.00 -
Total 7,39,811.00 25,30,126.63

6 TRADE PAYABLES
As at 31st March 2018 As at 31st March 2017
Particulars
` `
Sundry Creditors for Expenses 8,700.00 16,500.00
Sundry Creditors for Goods - 5,28,690.00
Total 8,700.00 5,45,190.00

7 NON-CURRENT INVESTMENTS
st st
As at 31 March 2018 As at 31 March 2017
Particulars
` `
Investments in Mutual Funds 13,50,000.00 -
Investments in Equity Shares(at Cost) 30,15,564.09 30,15,564.09
Total 43,65,564.09 30,15,564.09
 COSMOS APPLIANCES PRIVATE LIMITED
Notes to financial statements for the year ended 31st March, 2018

8 TRADE RECEIVABLES
As at 31st March 2018 As at 31st March 2017
Particulars
` `
Sundry Debtors - 4,49,502.00
Total - 4,49,502.00

9 CASH AND CASH EQUIVALENTS

As at 31st March 2018 As at 31st March 2017
Particulars
` `
Cash in Hand 2,965.00 16,638.00

Balances with Bank: In Current Account - 5,296.00

Balances with Bank: In Fixed Deposits - 25,95,729.00

Balances with Bank: In Overdraft Account 9,040.73 -
Total 12,005.73 26,17,663.00

10 SHORT TERM LOANS AND ADVANCES

As at 31st March 2018 As at 31st March 2017
Particulars
` `
- Directors & Shareholders 35,54,409.00 41,64,598.00
- Body Corporates 8,10,000.00 8,10,000.00
Total 43,64,409.00 49,74,598.00

11 OTHER CURRENT ASSETS

As at 31st March 2018 As at 31st March 2017
Particulars
` `
Tax Deducted At Source 12,753.00 19,681.00
Less:Provision for Income Tax (4,185.00) (11,715.00)
Total 8,568.00 7,966.00
 COSMOS APPLIANCES PRIVATE LIMITED
st
Notes to financial statements for the year ended 31 March,2018

12 REVENUE FROM OPERATIONS

For the period For the period
st st
ended 31 March ended 31 March
Particulars
2018 2017
` `
Sale of Goods 5,56,148.00 5,92,596.00
Total 5,56,148.00 5,92,596.00

13 OTHER INCOME:
For the period For the period
st st
Particulars ended 31 March ended 31 March
2018 2017
` `
Dividend Income 9,040.44 -
Interest on FD 1,27,525.00 1,96,804.00
Interest on Income Tax 354.00 316.00
Total 1,36,919.44 1,97,120.00

14 EMPLOYEE BENEFIT EXPENSES

For the period For the period
st st
ended 31 March ended 31 March
Particulars
2018 2017
` `
Salary & Bonus 32,500.00 1,17,000.00
Staff Welfare 2,750.00 2,150.00
Total 35,250.00 1,19,150.00

15 FINANCE COST
For the period For the period
st st
ended 31 March ended 31 March
Particulars
2018 2017
` `
Interest Expenses 1,73,331.00 59,199.00
Total 1,73,331.00 59,199.00

16 OTHER EXPENSES
For the period For the period
st st
Particulars ended 31 March ended 31 March
2018 2017
` `
Accounting Charges 15,000.00 15,000.00
Audit fees for Statutory Audit 7,500.00 7,500.00
Bank Charges 11,159.08 4,440.30
Conveyance Expenses 8,059.00 6,021.00
General Expenses 4,959.00 5,010.04
Postage & Telegram 605.00 435.00
Profesional Charges 2,000.00 -
Printing and Stationery - 1,350.00
ROC Filing Fees 1,200.00 1,200.00
Telephone Charges 2,514.00 2,505.00
Total 52,996.08 43,461.34
17. Earnings Per Share
2017-18 2016-17

Profit After Taxation as per Statement of Profit & Loss (A) 12,059.36 27,500.66
Weighted Average Number of Shares for Basic EPS (B) 67,700 67,700
Equity Shares Pending Allotment (C) - -
Weighted Average Number of Shares for Diluted EPS (D) (B+C) 67,700 67,700
Earnings Per Share of Face Value ` 10/-
Basic (A/B) 0.18 0.41
Diluted (A/D) 0.18 0.41

18. Related Party Disclosures

Anant Bajla – Director (DIN:01968494)
Key Managerial Personnel
Manju Bajla – Director (DIN: 01968584)
1. Loan Outstanding as on 31.03.2018: Magnum Hitech
Industries Pvt. Ltd. - ` 50,000/-
Transactions with Related Parties 2. Loan Outstanding as on 31.03.2018: Manju Bajla. –
` 2,89,811/-
3. Loan & Advances as on 31.03.2018: Ashok Bajla. –
` 21,00,000/-

19. MSMED Act, 2006

The Government of India has promulgated an Act namely The Micro, Small and Medium Enterprises
Development Act, 2006 which comes into force with effect from October 2, 2006. As per the Act, the
company is required to identify the Micro, Small & Medium suppliers and pay them interest on over
dues beyond the specified period irrespective of the terms agreed with the suppliers. The Company
does not have any dues to any entity covered under The Micro, Small and Medium Enterprises
Development Act, 2006.

20. Contingent Liabilities & Pending Litigations

The company does not have any Contingent Liabilities & pending litigations as on the Balance Sheet
date and hence no provision is required under any law or accounting standard, for material foreseeable
losses if any on long term contracts including derivative contracts.

21. Previous year’s figures

Previous year's figures have been regrouped/ reclassified wherever necessary to correspond with the
current year's classification / disclosure. The company has compiled the above accounts based on the
revised/Modified schedule III applicable for the accounting period 2017-2018. The disclosure
requirements are made in the notes to accounts or by way of additional statements. The other
disclosures as required by the Companies Act are made in the notes to accounts.

As per our report of even date For and on behalf of the board of directors
For J Chowdhury & Associates
Chartered Accountants
Firm Registration No: 327197E
-SD-

ANANT BAJLA
-SD- (Director)
DIN- 01968494
Jitesh Chowdhury
Proprietor
Membership No.: 069621 -SD-
MANJU BAJLA
Place: Kolkata (Director)
Date: The 30th Day of June, 2018 DIN- 01968584