To The Members
The Directors presents their Twenty-Fifth Annual Report together with
the Audited Statement of Accounts of the Company for the year ended on
31s1 March, 2012.
[Rs. In lacs]
Total income 279.91 260.09
Profit before tax 10.93 30.93
Provision for tax 2.18 1.08
Profit after tax 11.72 6.06
Net profit carried forward 9.69 (2.03)
During the year under review, the total income from operations was Rs.
279.91 lacs as compared to Rs. 263.89 lacs of that of the previous year
showing increase of 06.07%. Modernization and expansion of Park is a
continuous process at Park so as to maintain taste and interest of
visitors. At present, the Company is operating only in one segment i.e.
running amusement park - entertainment sector and therefore the segment
reporting and performance standard is not applicable to the Company.
The total working of the Company, therefore, reflects the performance
of this single segment only.
The Company has not recommended any dividend. The Board has not
transferred any amount to General Reserve and an amount of Rs 11.72
Lacs has been retained in Profit and Loss Account.
LISTING OF SHARES
The Company''s share continues to remain listed with The Stock Exchange,
Pursuant to clause 49 of the listing agreement, a report on corporate
governance along with auditors'' certificate of its compliance is
included as part of the annual report.
The Articles of Association of the Company provide that at least
two-thirds of our Directors shall be subject to retirement by rotation.
One third of these retiring Directors must retire from office at each
Annual General Meeting of the shareholders. A retiring Director is
eligible for re-election Shri Bhuvanesh J. Bhattand Shri
JaydipsinhAVaghela, Directors will retire by rotation and Shri
Jaydipsinh A Vaghela being eligible, offers himself for reappointment
and Shri Bhuvanesh J. Bhattdoes not offers himself for reappointment.
The details of Shri JaydipsinhAVaghela together with nature of his-
expertise in specific functional areas and names of the companies in
which he hold office as Director and/or the Chairman/Membership of
Committees of the Board, are provided in the Notice of the ensuing
Annual General Meeting.
Conservation Of Energy, Technology Absorption and Foreign Exchange
Earnings And Outgo:
Particulars required to be furnished by the Companies (Disclosure of
particulars in the Report of Board of Directors) Rules 1988:
Part A and B pertaining to conservation and technology absorption is
not applicable to the Company. However the Company endeavored to
conserve energy consumption wherever feasible.
The Company has neither used nor earned any foreign exchange during the
year under review
PARTICULARS OF EMPLOYEES
The information as required under Section 217(2A) of the Companies Act.
1956 read with Companies (particulars of employees'' amend- ment) Rules,
1988 as amended from time to time is nil.
DIRECTOR''S RESPONSIBILITY STATEMENT
Pursuant to sub-Section (2AA) of Section 217 of Companies Act''1956 the
Board of Directors of the Company hereby State and confirm that:
- in preparation of Annual Accounts, the applicable accounting
standards had been followed along with proper explanation relating to
- the Directors had selected such accounting policies and applied them
consistently and applied them consistently and made judgments 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 end of the financial
year and of the profit or loss of the company for that period;
- the Directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provi- sions of this Act for safeguarding the assets of the company and
for preventing and detecting fraud and other irregularities;
- The Directors had prepared the annual accounts on a going concern
A Cash Flow statement for the year ended 31 March, 2012 is attached to
the Balance Sheet.
AUDITORS AND AUDITORS'' REPORT
The retiring Auditor M/s Jeevan Jagetiya & Co., Chartered Accountants,
Ahmedabad has indicated their willingness to continue as auditor of the
Company. It is proposed to reappoint M/s Jeevan Jagetiya & Co.,
Chartered Accountants, Ahmedabad as auditors of the Company till the
conclusion of Twenty Sixth Annual General Meeting. The Company has
received certificate from auditor to the effect that the reappoint-
ment if made, would be within prescribed limit under Section 224 (1-B)
of the Companies Act, 1956.
The Company has not accepted any deposits from the public.
The Company''s assets are adequately insured against major risks.
The Board expresses their appreciation for continued co-operation and
support extended to the Company by bankers, employees & share- holders.
Date : 02/05/2012 FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
Regd. Office :
43, Sakan Twin Bunglows
Nr. Management Enclave, H. S. Jadeja
Vastrapur, Ahmedabad. Chairman