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Moneycontrol.com India | Notes to Account > Rubber > Notes to Account from Somi Conveyor Beltings - BSE: 533001, NSE: N.A
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Somi Conveyor Beltings
BSE: 533001|ISIN: INE323J01019|SECTOR: Rubber
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« Mar 11
Notes to Accounts Year End : Mar '12
1.1 Un billied Revenue comprises of Advance to raw material suppliers
 and Advance against factory expenses
 
 1.2 Share issue expenses not written off are to be written off within
 12 months.
 
 2.1 Other Operating Income comprises of income from DEPB License
 (export incentive).
 
 3.1 Interest income comprises interest receivable on FDR of Rs.
 1193823 (Previous Year Rs. 359819) received on deposit to JWN of Rs.
 78522 (Previous Year Rs. 56138).
 
 3.2 Other income includes discount received and insurance claim
 received of Rs. 466816 during the year.
 
 4.1 Leave Encashment given by company is not retirement benefit but it
 is encashed in every year.
 
 4.2 As per Accounting Standard 15 Employee Benefits the disclousures
 as defined in the Accounting Standard are given below:
 
 Defined Contribution Plans
 
 Contribution to Defined Contribution Plans, recongnised as expense for
 the year is as under:
 
 Employer''s contribution to Provident Fund 270316 170439
 
 Defined Benefit Plans
 
 The employee''s gratuity scheme managed by LIC is a defined benefit
 plan. The present value of obligation on actuarial valuation using the
 Projected Unit Credit Method, which recongnises each period of services
 as giving rise to additional unit of employees benefit entitlement and
 measures each unit separately to build up the final obligation.
 
 5. CONTINGENT LIABILITIES AND COMMITMENTS            Rs (In Lakhs)
 
 (i) Claims against company disputed liabilities
 
     Entry Tax Demand                                2.66       2.66
 
 (ii) Guarantees
 
 Performance Guarantees                            182.04     742.64
 
 Financial Guarantee                                54.88        -
 
 Guarantee against Buyer''s                         531.07
 
 (iii) Letter of credit                            127.73      155.96
 
 6. The Company is in the process of identifying Micro, Small and
 Medium Enterprises as defined under the Micro, Small Medium
 Deveiopment Act,2006. Hence, disclousure relating to amounts unpaid as
 at the year together with interest payable thereon has not been given.
Source : Dion Global Solutions Limited
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