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.
The summarized performance of the Company for the years 2013-2014 and
2012-13 is given below:
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
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
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
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.
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-
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
During the year under review, the Board of Directors of Company did not
come with the Right Issue.
To Plough back the profits into the business, the Board of Directors
has not declared any dividend during the year.
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.
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
(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
That the Directors have prepared the accounts for the financial year
ended 31st March, 2014 on a going concern basis.
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.
Place: New Delhi
By Order of the Board
For Funny Software Limited
Sachin Singh Deeksha Sharma
DIN:06938911 DIN: 06971436
Whole Time Director Director