NUMERO UNO PROJECTS LTD.
The Directors have pleasure in presenting the Thirtieth Annual Report
together with the Audited Statement Accounts for the year ended 31st
The financial results of the company are as under:
Current Year Previous year
Depreciation and tax (300.347) (2.310,060)
Less : Depreciation 1,353 1,353
Profit/(Loss) before taxes (301,700) (2,311,403)
Less: Provision for taxation NIL NIL
Profit/(Loss) After Taxation (301,700) (2,311,403)
Balance brought forward from
earlier years (29,203,389) (26,891,966)
Balance carried forward to
Balance Sheet (29,505,099) (29,203,389)
During the year under review, the Company has not been able to perform
well because of a general slump Market Conditions. Efforts would
continue to generate increase in the volume of business in the year
During the year under review, your company had token material handling
and labour contracts on behalf other construction companies. All the
income for the year has been generated through such contracts same is
expected to increase in the year 2003-04.
Some signs of recovery are being felt and the sane is predicted by the
trade organizations in the near future Based on the above perception
your Company is expected to do better in the year 2003-2004.
The Directors do not recommend payment of any dividend to the
shareholders for the year under review account of lose and accumulated
losses of earlier years.
Mr. Shrikant, Ghanti, in accordance with the provisions of the
Companies Act, 1956 and the Articles of Association, retires by
rotation and is eligible for reappointment.
CORPORATE GOVERNANCE :
The Corporate Governance Report along with the auditor's certificate
regarding compliance of the conditions of the corporate Governance as
stipulated in clause 49 of the Listing Agreement of the Stock Exchange
is attached herewith.
PARTICULARS OF EMPLOYEES
Particulars of Employees, in accordance with the provision of section
?1? (2A) of the Companies Act, 1956, read with Companies (Particulars
of Employees) Rules, 1988, are not given since no Employee was paid
remuneration exceeding Rs.12,00,000/- per annum or Rs.100,0001- per
INFORMATION PURSUANT TO SECTION 217(1)(e)
Information pursuant to section 217(1)(e) of the Companies Act, 1956
read with Companies (Disclosure of particulars in the report of the
Hoard of Directors) Rules, 1988,
(1) CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN-EXCHANGE
EARNINGS AND OUTGO.
Adequate measures have been taken to avoid wastage of energy Other
parties of these Rules are not applicable to the Company.
The company continues to maintain harmonious & cordial relation with
its customers, Clients, workers, supervisors & Offices at all levels.
DIRECTORS RESPONSIBILITY STATEMENT U/S 217 (2AA)
The Directors would like to assure the Members that the financial
statements for the year under review, confirm in their entirety to the
requirements of the Companies Act, 1956.
The Directors confirm:
1) That in the preparation of the annual accounts, the applicable
accounting standards have been followed and that no material departures
have been made from the same
2) That the directors have selected the accounting policies and replied
upon them consistently and have the made judgments and estimates that
are reasonable and prudent so as to give a true and fair view of the
state of affairs of tire company at the end of the financial year and
of the profit and loss of the company for that period;
3) That the directors have taken proper and sufficient care for
maintenance of adequate accounting records in accordance with the
provision of the Companies Act, 1956 for the safeguard of the assets of
the Company and for preventing and detecting fraud and other
4) That the Directors had prepared the annual accounts of going concern
PUBLIC FIXED DEPOSITS :
The Company has no public deposit of and will not accept any deposit
without prior approval of the statutory authorities concerned.
INFORMATION PURSUANT TO CLAUSE 32
The Cash flow statement pursuant to clause 32 of the listing agreement
is provided along with the notes to accounts.
M/s. Kaushik Joshi Associates, Chartered Accountants, retire at the
ensuing Annual General Meeting of the Company and eligible for
The observation of the Auditors in the report has been dealt with in
the dotes forming parts of the Accounts.
The Directors recommend the re-appointment of M/s.Kaushik Joshi
Associates as Auditors of the s Company to hold office until the
conclusion of the Next Annual General Meeting of the Company,
The Directors wish to convey their gratitude to the company's clients,
bankers, shareholders and employees for their valued support extended
to the Company.
FOR AND ON BEHALF OF THE BOARD
HARISH D. RUPAREL