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Funny Software Ltd.

BSE: 539169 | NSE: | Series: | ISIN: INE105R01013 | SECTOR: Computers - Software Medium & Small

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Funny Software is not traded on BSE in the last 30 days

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Annual Report

For Year :
2014

Director’s Report

Dear Members, The Directors have pleasure in presenting the Annual Report on the business and operations of the Company together with the Audited Accounts for the year ended 31st March, 2014. FINANCIAL HIGHLIGHTS: The summarized performance of the Company for the years 2013-2014 and 2012-13 is given below: (in lacs) Particulars For Financial Year Ended March 31, 2014 March 31, 2013 Total Income 338.28 84.76 Total Expenditure 332.82 84.25 Profit after Depreciation but before Tax 6.92 0.51 Less: Current Tax 1.90 0.16 Add: Excess Provision of Income Tax of 0.00 0.00 Previous years Profit / (Loss) After Tax 3.69 0.35 Proposed Dividend 0.00 0.00 Tax on Dividend 0.00 0.00 Transferred to Statutory Reserves 0.00 0.00 FINANCIAL PERFORMANCE: During the year under review, Your Company has recorded a total income of Rs. 338.28 (lacs) against Rs. 84.76 (lacs) in the previous year. Profit after taxation for the financial year ended on 31st March, 2014 increased to Rs. 3.69 (lacs) as against Rs. 0.35 (lacs) in the previous year. DIRECTORS Ms. Deeksha Sharma (DIN 06971436) who was co-opted as an additional Director on the Board of the Company w.e.f 15th September, 2014 has been appointed as a Director liable to retire by rotation. Mr. Sanjay Rathore (DIN: 06971438) and Mr. Kuldeep Kumar (DIN: 06973941) who were co-opted as an additional Director on the Board of the Company w.e.f 15th September, 2014 has been appointed as an Independent Director on the Board of the Company. Mr. Amit Kumar Saxena and Mr. Mukesh Kumar have resigned from the Directorship with effect from 15th September, 2014. AUDITOR The Auditors M/s. Mrigank Rai & Associates, Chartered Accountants, having firm registration no. 023818N being eligible offer himself for re-appointment has given their consent to be appointed as Statutory auditors for the Financial Year 2014-15. The Company has received undertaking from M/s. Mrigank Rai & Associates to the effect that his re- appointment, if made, would be in accordance with the Act and that they are not disqualified for such re- appointment. A Board of directors of the company has recommended their re-appointment in the ensuing Annual General Meeting. RAISING OF CAPITAL: Our Company raised the funds through following sources: S.No. Mode of raising Funds Date of event Amount Raised 1 Bonus Issue 12/10/2013 16405000 2 Preferential Allotment 25/10/2013 30000000 3 Preferential Allotment 02/39/2014 43330000 RIGHT ISSUE: During the year under review, the Board of Directors of Company did not come with the Right Issue. DIVIDEND To Plough back the profits into the business, the Board of Directors has not declared any dividend during the year. DEPOSITS: During the year under review, Your Company has not accepted the deposits under section 58A of the Companies Act, 1956 and Companies (Acceptance of deposits) Rules 1975 as amended upto date. CONVERSION OF COMPANY FROM PRIVATE LIMITED TO PUBLIC LIMITED Our Company was converted into Public Limited Company and consequently the name was changed from Funny Software Private Limited to Funny Software Limited vide fresh certificate of incorporation dated 23rd August, 2014, issued by the Registrar of Companies, National Capital Territory of Delhi & Haryana. PUBLIC DEPOSIT Your Company has not accepted any deposits from the public during the year under review. PARTICULARS OF EMPLOYEES The provisions of section 217(2A) of the Companies Act, 1956 are not applicable as no employee was in receipt of remuneration to the extent laid down therein. ENERGY, TECHNOLOGY & FOREIGN EXCHANGE Information in accordance with the provision of Section 217 (I) (e) of the Companies Act, 1956, read with Companies (Disclosure of Particulars in the Report of Board of Directors) Rules 1988 being not relevant/significant, are not given. There were no foreign exchange earnings or outgo during the year under review. DIRECTORS RESPONSIBILITY STATEMENTS Pursuant to section 217 (2AA) of the companies ACT, 1956, it is hereby confirmed:- (i) That in the preparation of the accounts for the financial year ended 31st March 2014 the applicable accounting standards have been followed along with proper explanation relating to material departures. (ii) That the directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 year and of the profit of the company for the year under review. (iii) That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities; That the Directors have prepared the accounts for the financial year ended 31st March, 2014 on a going concern basis. ACKNOWLEDGEMENT The board wishes to express and place on records its gratitude for the faith reposed in and cooperation extended to the company by the shareholders of the company. Your directors wish to place on record their deep sense of appreciation for the devoted and sincere services of the executives, staff and workers of the company for its success. Date: 22/09/2014 Place: New Delhi By Order of the Board For Funny Software Limited Sachin Singh Deeksha Sharma DIN:06938911 DIN: 06971436 Whole Time Director Director

Director’s Report