Amal Ltd 2014-15

Amal Ltd | Annual Report 2014-15 NOTE 34 a) During 2014-15 the Company has revised the useful life of its fixed assets and provided depreciation as per the useful life and in the manner prescribed in Schedule II to the Companies Act 2013. Accordingly, depreciation charge for the year is higher by ` 2,39,000. b) Till 2013-14, the depreciation provided on revalued portion of fixed assets was debited to Statement of Profit and Loss and corresponding amount was withdrawn from Revaluation Reserve and credited to the Statement of Profit and Loss. However, from current year, pursuant to Application guide on the provisions of Schedule II to the Companies Act, 2013, withdrawal from Revaluation Reserve into Statement of Profit and Loss is not permissible and the amount standing to the credit of Revaluation Reserve will be credited to General Reserve on retirement or disposal of revalued asset. As a result of above, Loss for the year is higher by ` 38,000. NOTE 35 The Company operates in a single segment; manufacturing of Speciality Chemicals. Further, the operations of the Company are confined within India. Accordingly, there are no separate reportable segment as per Accounting Standard - 17 on ' Segment Reporting ' and no further disclosures are required. NOTE 36 During the year, the Company has not entered into any transaction in nature of loans and advances which falls within the purview of Clause 32 of Listing Agreements. NOTE 37 Figures for previous year have been regrouped | reclassified | rearranged wherever necessary to make them comparable to those for the current year. As per our attached report of even date For and on behalf of the Board of Directors For Haribhakti & Co. LLP Firm Registration Number: 103523W S S Lalbhai Chartered Accountants Chairman B L Shah S R Kalra Partner Chief Financial Officer Membership Number: 122071 S Mahalakshmi T R Gopi Kannan T T P Shaheel S A Shah Managing Director Mumbai A R Jadeja Mumbai April 24, 2015 Directors April 24, 2015