financial statements of subsidiaries of cyber media … · 2019-10-28 · independent auditor’s...
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FINANCIAL STATEMENTS OF SUBSIDIARIES OF CYBER MEDIA (INDIA)
LIMITED FOR THE FINANCIAL YEAR ENDED 31.03.2016
1. Cyber Media Research & Services Limited;
2. Cyber Astro Limited;
3. Cyber Media India LLC; and
4. Kurrent Media LLC
Financial Statements of Cyber Media Research & Services
Limited for the Financial Year ended 31.03.2016
INDEPENDENT AUDITOR’S REPORT
TO THE M EM BERS OF CYBER M EDIA RESEARCH & SERVICES LIM ITED
Report on the Standalone Financial Statements
We have audited the accompanying standalone financial statements of Cyber M edia
Research & Services Limited (“ the Company” ), which comprise the Balance Sheet as at 31st
M arch, 2016, the Statement of Profit and Loss, the Cash Flow Statement for the year then
ended, and a summary of the significant account ing policies and other explanatory
informat ion.
M anagement’s Responsibility for the Standalone Financial Statements
The Company’s Board of Directors is responsible for the mat ters stated in Sect ion 134(5) of
the Companies Act , 2013 (“ the Act” ) with respect to the preparat ion of these standalone
financial statements that give a t rue and fair view of the financial posit ion, financial
performance and cash flows of the Company in accordance with the account ing principles
generally accepted in India, including the Account ing Standards specified under Sect ion 133 of
the Act , read with Rule 7 of the Companies (Accounts) Rules, 2014.
This responsibility also includes maintenance of adequate account ing records in accordance
with the provisions of the Act for safeguarding of the assets of the Company and for
prevent ing and detect ing frauds and other irregularit ies; select ion and applicat ion of
appropriate account ing policies; making judgments and est imates that are reasonable and
prudent ; and design, implementat ion and maintenance of adequate internal financial
controls, that were operat ing effect ively for ensuring the accuracy and completeness of the
account ing records, relevant to the preparat ion and presentat ion of the financial statements
that give a t rue and fair view and are free from material misstatement , whether due to fraud
or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these standalone financial statements based on
our audit .
We have taken into account the provisions of the Act , the account ing and audit ing standards
and mat ters which are required to be included in the audit report under the provisions of the
Act and the Rules made thereunder.
We conducted our audit in accordance with the Standards on Audit ing specified under Sect ion
143(10) of the Act . Those Standards require that we comply with ethical requirements and
plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free from material misstatement . An audit involves performing procedures to
obtain audit evidence about the amounts and the disclosures in the financial statements. The
procedures selected depend on the auditor’s judgment , including the assessment of the risks
of material misstatement of the financial statements, whether due to fraud or error. In
making those r isk assessments, t he auditor considers internal financial control relevant to the
Company’s preparat ion of the financial statements that give a t rue and fair view in order to
design audit procedures that are appropriate in the circumstances. An audit also includes
evaluat ing t he appropriateness of the account ing policies used and the reasonableness of the
account ing est imates made by the Company’s Directors, as well as evaluat ing the overall
presentat ion of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide
a basis for our audit opinion on the standalone financial statements.
Opinion
In our opinion and to the best of our informat ion and according to the explanat ions given to
us, the aforesaid standalone financial statements give the informat ion required by the Act in
the manner so required and give a t rue and fair view in conformity with the account ing
principles generally accepted in India, of the state of affairs of the Company as at 31st M arch,
2016, and its Loss and its cash flows for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor’s Report ) Order, 2016 (“ the Order” ) issued by the
Central Government of India in terms of Sect ion 143(11) of the Act , we give in the
“ Annexure A” a statement on the mat ters specified in paragraphs 3 and 4 of the Order.
2. As required by Sect ion 143 (3) of the Act , we report that :
a) We have sought and obtained all the informat ion and explanat ions which to the best
of our knowledge and belief were necessary for the purposes of our audit ;
b) In our opinion, proper books of account as required by law have been kept by the
Company so far as it appears from our examinat ion of those books;
c) The Balance Sheet , the Statement of Profit and Loss, and the Cash Flow Statement
dealt with by this Report are in agreement with the books of account ;
d) In our opinion, the aforesaid standalone financial statements comply with the
Account ing Standards specified under Sect ion 133 of the Act , read with Rule 7 of the
Companies (Accounts) Rules, 2014;
e) On the basis of the writ ten representat ions received from the directors as on 31st
M arch, 2016 taken on record by the Board of Directors, none of the directors is
disqualified as on 31st M arch, 2016 from being appointed as a director in terms of
Sect ion 164 (2) of the Act ;
f) With respect to t he adequacy of the internal financial controls over financial report ing
of the Company and the operat ing effect iveness of such controls, refer to our separate
Report in “ Annexure B” .
g) With respect to the other mat ters to be included in the Auditor’s Report in accordance
with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to
the best of our informat ion and according to the explanat ions given to us:
i. The Company has no lit igat ions and hence no impact on its f inancial posit ion in
its financial statements.
ii. The Company has made provision, as required under the applicable law or
account ing standards, for material foreseeable losses, if any, on long-term
contracts (refer note 47 on ‘Provision on warranty’ to the financial statements).
The Company does not have any derivat ive contracts;
iii. There has been no delay in t ransferring amounts, required to be t ransferred, to
the Investor Educat ion and Protect ion Fund by the Company.
For N K Goel & Co.
Chartered Accountants,
Firm’s Regist rat ion No. 001942N
Neeraj Kumar Goel
Proprietor
M embership No. 500-16570
Place of Signature: New Delhi
Dated: M ay 25, 2016
Annexure A to the Independent Auditor’s Report to the members of Cyber M edia Research
& Services Limited dated 25/ 05/ 2016
Report on the matters specified in paragraph 3 of the Companies (Auditor’s Report) Order,
2016 (“the Order’) issued by the Central Government of India in terms of section 143(11) of
the Companies Act, 2013 (“the Act”) as referred to in paragraph 1 of ‘Report on Other Legal
and Regulatory Requirements’ section
(i) (a) The Company is maintaining proper records showing full part iculars, including
quant it at ive details and sit uat ion of f ixed assets;
(b) These fixed assets have been physically ver if ied by the management at
reasonable intervals; no mater ial discrepancies were not iced on such verificat ion.
(c) The t it le deeds of immovable propert ies are held in the name of the Company.
(ii) The physical verificat ion of inventory has been conducted at reasonable intervals by
the management and no any material discrepancies were not iced;
(iii) The Company has not granted any loans, secured or unsecured to companies, firms,
Limited Liability Partnerships or other part ies covered in the register maintained under
sect ion 186 of the Companies Act , 2013.
(iv) The Company has not made any loans, investments, guarantees and security to which
sect ion 185 & 186 of the Companies Act , 2013 are applicable, hence clause (iv) of
paragraph 3 of the Order is not applicable to the Company;
(v) The Company has not accepted any deposits to which chapter V of the Companies Act ,
2013 is applicable, hence clause (v) of paragraph 3 of the Order is not applicable to the
Company;
(vi) The Central Government has not prescribed the maintenance of cost records for the
act ivit ies carried on by the Company during the year ended 31st
M arch 2016 under
sub-sect ion (1) of sect ion 148 of the Companies Act , 2013, hence clause (vi) of
paragraph 3 of the Order is not applicable to the Company;
(vii) (a) The Company is generally regular in deposit ing undisputed statutory dues of
provident fund, employees' state insurance, income-tax, sales-tax, service tax, duty of
customs, duty of excise, value added tax, cess and other statutory dues required to be
deposited with the appropriate authorit ies, except PF dues for Jan to M arch 2016,
amount ing to Rs. 4,42,330/ -. The extent of the arrears of outstanding statutory dues
as on the last day of the financial year concerned for a period of more than six months
from the date they became payable are as under:-
S No. Nature of Dues Amount (Rs.)
1 Service Tax 68,64,736
(b) There are no dues of income tax or sales tax or service tax or duty of customs or
duty of excise or value added tax that have not been deposited on account of any
dispute.
(viii) The Company has not defaulted in repayment of loans or borrowings to a financial
inst itut ion, bank, Government or dues to debenture holders, hence clause (viii) of
paragraph 3 of the Order is not applicable to the Company;
(ix) The Company has not raised any money by way of init ial public offer or further public
offer (including debt inst ruments). The Company has not term loan, neither the
Company has applied the term loan during the financial year.
(x) No fraud by the Company or fraud on the Company by its officers or employees has
been not iced or reported during the year;
(xi) M anagerial remunerat ion has been paid or provided in accordance with the requisite
approvals mandated by the provisions of sect ion 197 read with Schedule V to the
Companies Act , 2013.
(xii) The Company is not a Nidhi Company, hence clause (xii) of paragraph 3 the Order is
not applicable to the Company;
(xiii) All the t ransact ions with the related part ies are in accordance with sect ion 188 of the
Companies Act , 2013. Adequate disclosures as required by the applicable account ing
standards have been made in these financial statements;
(xiv) The Company has neither made preferent ial allotment nor private placement of shares
or fully & part ly convert ible debentures during the year under audit , hence clause (xiv)
of paragraph 3 the Order is not applicable to the Company;
(xv) The Company has not entered into with non-cash t ransact ions with directors and
persons connected with him, hence clause (xv) of paragraph 3 the Order is not
applicable to the Company;
(xvi) The Company is not required to be registered under sect ion 45-IA of the Reserve Bank
of India Act , 1934;
For N K Goel & Co.
Chartered Accountants,
Firm’s Regist rat ion No. 001942N
Neeraj Kumar Goel
Proprietor
M embership No. 500-16570
Place of Signature: New Delhi
Dated: M ay 25, 2016
Annexure B to the Independent Auditor’s Report to the members of Cyber M edia Research
& Services Limited dated 25/ 05/ 2016
Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of
the Companies Act, 2013 (“the Act”) as referred to in paragraph 2(f) of ‘Report on Other
Legal and Regulatory Requirements’ section
We have audited the internal financial controls over financial report ing of Cyber M edia
Research & Services Limited (“ the Company” ) as of M arch 31, 2016 in conjunct ion with our
audit of the standalone financial statements of the Company for the year ended on that date.
M anagement’s Responsibility for Internal Financial Controls
The Company’s management is responsible for establishing and maintaining internal financial
controls based on “ the internal control over financial report ing criteria established by the
Company considering the essent ial components of internal control stated in the Guidance
Note on Audit of Internal Financial Controls over Financial Report ing issued by the Inst itute of
Chartered Accountants of India” . These responsibilit ies include the design, implementat ion
and maintenance of adequate internal financial controls that were operat ing effect ively for
ensuring the orderly and efficient conduct of its business, including adherence to Company’s
policies, the safeguarding of its assets, t he prevent ion and detect ion of frauds and errors, the
accuracy and completeness of the account ing records, and the t imely preparat ion of reliable
financial informat ion, as required under the Companies Act , 2013.
Auditors’ Responsibility
Our responsibility is to express an opinion on the Company's internal financial controls over
financial report ing based on our audit .
We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial
Controls Over Financial Report ing (the “ Guidance Note” ) and the Standards on Audit ing,
issued by ICAI and deemed to be prescribed under sect ion 143(10) of the Companies Act ,
2013, to the extent applicable to an audit of internal financial controls, both applicable to an
audit of Internal Financial Controls and, both issued by the Inst itute of Chartered Accountants
of India. Those Standards and the Guidance Note require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about whether
adequate internal financial controls over financial report ing was established and maintained
and if such controls operated effect ively in all material respects.
Our audit involves performing procedures to obtain audit evidence about t he adequacy of the
internal financial controls system over financial report ing and their operat ing effect iveness.
Our audit of internal financial controls over financial report ing included obtaining an
understanding of internal financial controls over financial report ing, assessing the risk that a
material weakness exists, and test ing and evaluat ing the design and operat ing effect iveness of
internal control based on the assessed risk. The procedures selected depend on the auditor’s
judgement , including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide
a basis for our audit opinion on the Company’s internal financial controls system over
financial report ing.
M eaning of Internal Financial Controls over Financial Reporting
A company's internal financial control over financial report ing is a process designed to provide
reasonable assurance regarding the reliability of financial report ing and the preparat ion of
financial statements for external purposes in accordance with generally accepted account ing
principles. A company's internal financial control over financial report ing includes those
policies and procedures that :
a) pertain to the maintenance of records that , in reasonable detail, accurately and fairly
reflect the t ransact ions and disposit ions of the assets of the company;
b) provide reasonable assurance that t ransact ions are recorded as necessary to permit
preparat ion of financial statements in accordance with generally accepted account ing
principles, and that receipts and expenditures of the company are being made only in
accordance with authorisat ions of management and directors of the company; and
c) provide reasonable assurance regarding prevent ion or t imely detect ion of unauthorised
acquisit ion, use, or disposit ion of the company's assets that could have a material effect
on the financial statements.
Inherent Limitations of Internal Financial Controls over Financial Reporting
Because of the inherent limitat ions of internal financial controls over financial report ing,
including the possibility of collusion or improper management override of controls, material
misstatements due to error or fraud may occur and not be detected. Also, project ions of any
evaluat ion of the internal financial controls over financial report ing to future periods are
subject to the risk that the internal financial control over financial report ing may become
inadequate because of changes in condit ions, or that the degree of compliance with the
policies or procedures may deteriorate.
Opinion
In our opinion, the Company has, in all material respects, an adequate internal financial
controls system over financial report ing and such internal financial controls over financial
report ing were operat ing effect ively as at M arch 31, 2016, based on “ the internal control over
financial report ing criteria established by the Company considering the essent ial components
of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over
Financial Report ing issued by the Inst itute of Chartered Accountants of India” .
For N K Goel & Co.
Chartered Accountants,
Firm’s Regist rat ion No. 001942N
Neeraj Kumar Goel
Proprietor
M embership No. 500-16570
Place of Signature: New Delhi
Dated: M ay 25, 2016
(all figures in INR)
Particulars Note
No.
As at
31st March, 2016
As at
31st March, 2015
EQUITY & LIABILITIES
Shareholders’ FundsShare Capital 2 1,500,000 1,500,000
Reserves & Surplus 3 10,538,599 21,400,824
12,038,599 22,900,824
Non-current Liabilities
Long-term provisions 4 1,294,044 1,329,983
1,294,044 1,329,983
Current Liabilities
Short-term borrowings 5 14,292,754 14,715,222
Trade payables 6
-Micro, Small and Medium Enterprises - -
-Others 19,603,628 11,549,203
19,603,628 11,549,203
Other current liabilities 7 9,704,529 7,409,561
Short-term provisions 8 - -
43,600,911 33,673,986
TOTAL 56,933,554 57,904,793
ASSETS
Non-Current Assets
Fixed Assets 9
(i) Tangible Assets 4,893,394 6,272,686
(ii) Intangible Assets 6,831,774 8,046,490
(iii)Capital Work-in Progress - -
(iv)Intangible Assets under development - -
11,725,168 14,319,176
Deferred tax assets (net) 10 21,795,400 16,964,000
Long-term loans and advances 11 11,544,169 11,221,771
45,064,737 42,504,948
Current Assets
Inventories 12 183,517 256,871
Trade Receivables 13 10,462,921 14,969,127
Cash and Bank Balances 14 1,195,392 132,668
Short-term loans and advances 15 26,987 41,180
11,868,817 15,399,845
TOTAL 56,933,554 57,904,793
Significant Accounting Policies
Notes on Financial Statements 1 to 31
As per our report attached For and on behalf of Board Of Directors
For N K Goel & Co
Chartered Accountants
(Firm Registration No. 001942N)
Pradeep Gupta
Director
DIN 00007520
Neeraj Kumar Goel
Proprietor
Membership No. 500-16570 Krishan Kant Tulshan
Director
Place : New Delhi DIN 00009764
Dated : 25.05.2016
CYBER MEDIA RESEARCH & SERVICES LIMITED
BALANCE SHEET AS AT 31ST MARCH, 2016
CIN : U74130DL1996PLC081509
(all figures in INR)
Particulars Note For the year For the year
No. 31.03.2016 31.03.2015
INCOME
Revenue from operations 16 80,793,001 56,087,279
Other income 17 269,190 197,972
Total Revenue 81,062,191 56,285,251
EXPENDITURE
Employee benefits expense 18 40,400,368 29,908,593
Finance costs 19 2,700,982 2,702,255
Depreciation and amortization expense 20 2,559,326 3,609,858
Other expenses 21 51,095,140 33,031,557
Total expense 96,755,816 69,252,263
Profit before tax (15,693,625) (12,967,012)
Tax expenses
(1) Current tax - -
(2) Deferred tax (4,831,400) (5,407,500)
Profit (Loss) for the period (10,862,225) (7,559,512)
Earnings per equity share of face value of Rs 10/- each 22
(1) Basic (72.41) (50.40)
(2) Diluted (72.41) (50.40)
Significant Accounting Policies
Notes on Financial Statements 1 to 31
As per our report attached
For N K Goel & Co For and on behalf of Board Of Directors
Chartered Accountants
(Firm Registration No. 001942N)
Pradeep Gupta
Director
DIN 00007520
Neeraj Kumar Goel
Proprietor Krishan Kant Tulshan
Membership No. 500-16570 Director
DIN 00009764
Place : New Delhi
Dated : 25.05.2016
CYBER MEDIA RESEARCH &SERVICES LIMITED
STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31ST MARCH, 2016
CIN : U74130DL1996PLC081509
(all figures in INR)
Year Ended
31st March,
2016
31st March,
2015
A CASH FLOW FROM OPERATING ACTIVITIES
Net Profit Before Tax (15,693,625) (12,967,012)
Adjustments for:
Depreciation 2,559,326 3,609,860
Interest received (178,550) (192,586)
Employee Benefits Expense (35,939) (47,330)
Adjustment on Fixed Assets (38,698)
Interest Paid 2,700,982 2,702,255
Difference in Exchange - 0
Profit on Sale of Vehicles -
5,045,819 6,033,501
Operating profit before working capital
changes(10,647,806) (6,933,511)
Adjustments for:
(Increase)/decrease in Trade Receivable 4,506,206 (4,236,026)
(Decrease)/Increase in Trade Payable - (16,454,871)
(Decrease)/Increase in Current Liabilities
2,294,968 -
(Increase)/Decrease in Inventory 73,354 (256,871)
(Increase)/Decrease in Loans & Advances
(18,098) 25,879,658
6,856,430 4,931,890
Cash Generated From Operations (3,791,376) (2,001,621)
Income tax paid (290,107) (1,202,401)
Net cash from Operating Activities (4,081,483) (3,204,022)
B CASH FLOW FROM INVESTING ACTIVITIES
Inflows:
Interest received 178,550 192,586
Assets sold 34,682 -
213,232 192,586
Outflows:
Acquisition of fixed assets - -
-
Net cash from Investing Activities 213,232 192,586
C CASH FLOW FROM FINANCING ACTIVITIES
Inflows:
Proceeds from Secured Loans - -
- -
Outflows:
Repayment of Secured Loans (Net) (422,468) 5,825,073
Interest Paid (2,700,982) (2,702,255)
(3,123,450) 3,122,818
Net cash from Financing activities (3,123,450) 3,122,818
D EXCHANGE DIFFERENCE IN FOREIGN
CURRENCY -
Net (Decrease)Increase in Cash & Cash
equivalents (A+B+C+D) (6,991,701) 111,382
Cash & Cash Equivalents (Opening) 132,668 21,285
Cash & Cash Equivalents (Closing) (6,859,033) 132,667
CYBER MEDIA RESEARCH & SERVICES LIMITED
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2016
Year Ended
CIN : U74130DL1996PLC081509
Notes to Cash Flow Statement
This is the Cash Flow Statement referred to in our report of even date
As per our report attached
For N K Goel & Co. For and on behalf of Board Of Directors
Chartered Accountants
(Firm Registration No. 001942N)
Pradeep Gupta
Director
DIN 00007520
Neeraj Kumar Goel
Proprietor
Membership No. 500-16570
Krishan Kant Tulshan
Place : New Delhi Director
Dated : 25.05.2016 DIN 00009764
2) Cash flows have been reported using the indirect method, whereby the net profit is adjusted for the effects of
transactions of a non-cash nature and any deferrals or accruals of past or future cash receipts or payments,
segregated between cash flows.
3) Significant cash and cash equivalent balances held by the enterprise are available for use by the Company.
4) Previous year's figures have been regrouped wherever necessary.
1) The cash flow statement has been prepared in accordance with the requirements of Accounting Standard – 3 “Cash Flow Statement” .
CYBER MEDIA RESEARCH & SERVICES LIMITED NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED 31
STMARCH, 2016
1. Significant Accounting Policies
The significant account ing policies adopted by the Company in respect of these financial
statement , are set out below:
1.1 Basis of Preparation of financial statements
The financial statements are prepared in accordance with Indian Generally Accepted
Account ing Principles (“ GAAP” ) under the historical cost convent ion on the accrual basis.
GAAP comprises mandatory account ing standards as specified under sect ion 133 of the
Companies Act , 2013 including any statutory modificat ion(s)/ amendment(s) thereto (the
“ Act ” ) read with the Companies (Account ing Standards) Rules, 2006, the provisions of the
Act (to the extent not ified), guidelines issued by the Securit ies and Exchange Board of India
and pronouncements of the Inst itute of Chartered Accountants of India. Account ing policies
have been consistent ly applied except where a newly issued account ing standard is init ially
adopted or a revision to an exist ing account ing standard requires a change in the account ing
policy hitherto in use.
The management evaluates all recent ly issued or revised account ing standards on an
ongoing basis.
1.2 Revenue Recognition
Revenues of all material items and nature are recognized in accordance with Account ing
Standard – 9, i.e., at the t ime of rendering of services or sales. If at the t ime of rendering of
services or sales there is significant uncertainty in ult imate collect ion of the revenue, then
the revenue recognit ion is postponed and in such cases revenue is recognized only when it
becomes reasonably certain that ult imate collect ion will be made. When uncertainty of
collect ion of revenue arises subsequent ly after the revenue recognit ion, provision for the
uncertainty in collect ion is made rather than adjustment in revenue already recognized.
Turnover includes gross value of goods and services and taxes. Dividend income is
recognized when right to receive is established. Interest income is recognized on t ime
proport ion basis taking into account the amount outstanding and rate applicable.
1.3 Fixed Assets, Intangible Assets and Capital W ork-In -Progress
Fixed Assets are stated at cost less accumulated depreciat ion. Direct costs are capitalized
unt il f ixed assets are ready t o use. Capital work-in progress comprises outstanding advances
paid to acquire fixed assets, and the cost of fixed asset s that are not ready for their intended
use at the balance sheet date. Intangible assets are recorded at the considerat ion paid for
acquisit ion.
1.4 Depreciation/ Amortization
Depreciat ion is provided on the st raight -line method at the rates and in the manner
prescribed in Schedule II to the Act on all the assets. Intangible Assets are amort ized in
accordance with Account ing Standard 26 on “ Intangible Assets” . Purchased ‘Intangible
Assets’ is accordingly amort ized on a st raight line method over its est imated useful lives as
specified in Schedule II.
CYBER MEDIA RESEARCH & SERVICES LIMITED NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED 31
STMARCH, 2016
The cost of internally generated website is accordingly amort ized as prescribed in Schedule
II.
Depreciat ion for assets purchased / sold during a period is proport ionately charged.
Individual low cost assets (acquired for less than Rs. 5,000/ -) are ent irely depreciated in the
year of acquisit ion
1.5 Investments
Trade Investments are the investments made to enhance the Company’s business interests.
Investments are either classified as current and long- term based on the management
intent ion at the t ime of purchase. Current investments are carried at the lower of cost and
fair value. Long-term investments are carried at cost and provisions recorded to recognize
any decline, other than temporary, in the carrying value of each investment .
1.6 Inventory
Inventory of Newsprint , goods in t ransit are stated at cost or net realizable value, whichever
is lower. Cost comprises all cost of purchase, cost of conversion and other costs incurred in
bringing the inventories to their present locat ion and condit ion. Cost formulae used are
‘First In First Out ’. Due allowance is est imated and made for defect ive and obsolete items,
wherever necessary, based on the past experience of the Company.
1.7 Foreign Currency Transactions
Transact ions in Foreign Currency are recorded at the exchange rate prevailing at t he date of
t ransact ion. M onetary items are restated at year-end foreign exchange rates. Resultant
exchange differences arising on payment or conversion of liabilit ies are recognized as
income or expense in the year in which they arise.
1.8 Retirement Benefits
a) Company’s cont ribut ion to the Employees’ Provident Fund is charged to the profit and
loss account each year.
b) Short term employee benefits (M edical, Leave t ravel allowance, etc.) expected to be paid
in exchange for the services rendered are recognised on undiscounted basis
c) Actuarial gains and losses arising from experience adjustments and effects of changes in
actuarial assumpt ions are immediately recognised in the statement of profit and loss
account as income or expense.
d) Gratuity and Leave encashment are provided for on the basis of an actuarial valuat ion
using projected unit credit method (PUCM ).
1.9 Taxation
Income tax is computed using the tax effect account ing method; where income tax is
accrued in the same period in which the related revenue and expenses arise. A provision is
made for income tax annually based on the tax liability computed, after considering tax
CYBER MEDIA RESEARCH & SERVICES LIMITED NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED 31
STMARCH, 2016
allowances and exempt ions. Provision is also recorded when it is est imated that a liability
due to disallowances or other mat ters is probable.
The differences t hat result between the profit considered for income taxes and the profit as
per the financial statements are ident ified, and thereafter a deferred tax asset or deferred
tax liability is recorded for t iming differences, namely the differences that originate in one
account ing period and reverse in another, based on the tax effect of the aggregate amount
being considered. The tax effect is calculated on the accumulated t iming differences at the
end of an account ing period based on prevailing enacted or substant ively enacted
regulat ions. Deferred tax assets are recognized only if there is reasonable or virtual certainty
that they will be realized and are reviewed for the appropriateness of their respect ive
carrying values at each balance sheet date.
1.10 Borrowing Cost
Borrowing cost at t ributable to the acquisit ion or const ruct ion of a qualifying asset is
capitalized as a part of the cost of that asset . A qualifying asset is one, which takes
substant ial period of t ime to get ready for intended use. Other borrowing costs are
recognized as an expense in the period in which they are incurred.
1.11 Impairment of Assets
Assets that are subject to amort izat ion are reviewed for impairment whenever events or
changes in circumstances indicate that the carrying amount may not be recoverable. An
impairment loss is recognized for the amount by which the assets’ carrying amount exceeds
its recoverable amount . The recoverable amount is the higher of the assets’ fair value less
cost t o sell and value in use. For t he purpose of assessing impairment , assets are grouped at
the lowest levels for which there are separately ident ifiable cash flows (Cash generat ing
units).
1.12 Earnings Per Share
In determining earnings per share, the Company considers the net profit after tax and
includes the post tax effect of any ext raordinary / except ional items. The number of shares
used in comput ing basic earnings per share is the weighted average number of shares
outstanding during the period. The number of shares used in comput ing Diluted EPS
comprises weighted average shares considered for deriving Basic EPS, and also the weighted
average number of equity shares which could have been issued on the conversion of all
dilut ive potent ial equity shares. The ant i-dilut ive effect , if any, of potent ial equity shares on
diluted EPS is ignored as per the requirement of account ing standard -20 on “ Earning per
Share” .
1.13 Provisions, Contingent Liabilities and Contingent Assets
Provisions involving substant ial degree of est imat ion in measurement are recognized when
there is a present obligat ion as a result of past events and it is probable that there will be an
out flow of resources. Cont ingent liabilit ies are not recognized but disclosed in the notes.
Cont ingent assets are neither recognized nor disclosed in the financial statement .
CYBER MEDIA RESEARCH & SERVICES LIMITED NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED 31
STMARCH, 2016
1.14 Leases
Lease rentals in respect of assets taken on “ Operat ing Lease” are charged to the Profit &
Loss Account .
As at As at
31.03.2016 31.03.2015
2 Share Capital
Authorized Share Capital:
2,50,000 (2,50,000) Equity Shares of Rs. 10/- each 2,500,000 2,500,000
2,500,000 2,500,000
Issued, Susbcribed and Paid Up
1,50,000 (1,50,000) Equity Shares of Rs. 10 each,
subscribed and fully paid up 1,500,000 1,500,000
1,500,000 1,500,000
2.1
Name of the Shareholder
No. of shares % held No. of shares % held
Cyber Media (India) Limited 150,000 100 150,000 100
2.2 The details in respect of holding company
Name of the Shareholder No. of shares % held No. of shares % held
Cyber Media (India) Limited 150,000 100 150,000 100
2.3
Particulars
Equity Shares at the beginning of the year
Add: Shares issued during the year
Equity Shares at the end of the year
3 Reserves and Surplus
General Reserves
As per the Last Balance Sheet 20,500,000 20,500,000
Add: Transferred during the year - -
20,500,000 20,500,000
Profit and Loss Account
As per last Balance Sheet 900,824 9,967,411
Less : Depriciation - 1,507,078
900,824 8,460,333
Add: Profit for the year (10,862,225) (7,559,509)
(9,961,401) 900,823.79
TOTAL 10,538,599 21,400,824
4 Long term Provisions
(a) Provision for employees’ benefits. 1,294,044 1,329,983
TOTAL 1,294,044 1,329,983
5 Short term borrowings
Secured
Working Capital Loan 14,292,754 14,715,222
TOTAL 14,292,754 14,715,222
5.1
6 Trade payables
Micro, Small and Medium Enterprises - -
Others 19,603,628 11,549,203
TOTAL 19,603,628 11,549,203
6.1
The reconciliation of number of shares
outstanding is set out below:
Cash credit facilities from State Bank of Mysore is secured by book debts, immovable property and also the corporate
guarantee of Cyber Media (India) Limited and personal guarantee of Mr. Pradeep Gupta.
The Company has not received any intimation from Micro and Small Enterprises under "The Micro, Small and Medium
enterprises Act, 2006." As per the information available with the Company, no interest is paid or payable under the
Note
No. Particulars
As at As at
31.03.2016 31.03.2015
As at As at
31.03.2016 31.03.2015
CYBER MEDIA RESEARCH & SERVICES LIMITED
Notes on financial statements for the year ended 31st March, 2016
(all figures in INR)
The details of shareholders holding more than 5% shares
CIN : U74130DL1996PLC081509
As at
31.03.2016
No. of shares
150,000
150,000
As at
31.03.2015
No. of shares
150,000
150,000
7 Other Current Liabilities
(a) Advance payments for which value is still to be given - -
(b) Other Payables
-Statutory dues 9,704,529 7,409,561
9,704,529 7,409,561
8 Short term Provisions
(a) Provision for employees’ benefits. - -
(b) Others - -
TOTAL - -
As AT As AT As AT For The Upto As AT As AT
01.04.2015 Additions Deductions Adjustment 31.03.2016 31.03.2015 Year Adjustments 31.03.2016 31.03.2016 31.03.2015
Tangible Assets
Buildings Freehold 2,141,446 - - - 2,141,446 452,714 - - 452,714 1,688,732 1,688,732
Computer Equipments 18,738,045 - 43,200 - 18,694,845 17,801,143 - 8,518 17,792,625 902,220 936,902
Equipments & Installations 751,892 - - - 751,892 677,040 - - 677,040 74,852 74,852
Furniture & Fixtures 8,430,758 - - - 8,430,758 7,202,941 - - 7,202,941 1,227,817 1,227,817
Air Conditioners 544,404 - - - 544,404 517,185 - - 517,185 27,219 27,219
Generator 543,560 - - 543,560 473,355 - - 473,355 70,205 70,205
Vehicles 10,620,593 - - - 10,620,593 8,373,634 1,344,610 - 9,718,244 902,349 2,246,959
Total Tangible Assets (A) 41,770,698 - 43,200 - 41,727,498 35,498,012 1,344,610 8,518 36,834,104 4,893,394 6,272,686
Previous Year 41,731,999 38,699 - - 41,770,698 31,595,792 2,395,142 (1,507,077) 35,498,011 6,272,687 10,136,207
Intangible Assets
Capitalized Software (Purchased) 12,147,161 - - - 12,147,161 4,100,671 1,214,716 - 5,315,387 6,831,774 8,046,490
Total Intangible Assets (B) 12,147,161 - - - 12,147,161 4,100,671 1,214,716 - 5,315,387 6,831,774 8,046,490
Previous Year 12,147,161 - - - 12,147,161 2,885,955 1,214,716 - 4,100,671 8,046,490 9,261,206
Gross Total (A + B) 53,917,859 - 43,200 - 53,874,659 39,598,683 2,559,326 8,518 42,149,491 11,725,168 14,319,176
Previous Year 53,879,160 38,699 - - 53,917,859 34,481,746 3,609,858 (1,507,077) 39,598,681 14,319,178 19,397,414
CYBER MEDIA RESEARCH & SERVICES LIMITED
Notes on financial statements for the year ended 31st March, 2016
Note 9: FIXED ASSETS
(all figures in INR)
GROSS BLOCK Depreciation/Amortization NET BLOCKDESCRIPTION
CIN : U74130DL1996PLC081509
(all figures in INR)
As at As at
31.03.2016 31.03.2015
10 Deferred Tax Assets (Net)
Deferred Tax Assets
Disallowance under the Income Tax Act, 1961
Opening Balance 629,900 499,600
Add: During the year - 130,300
629,900 629,900
Business Losses
Opening Balance 18,756,700 14,749,900
Add: During the year 4,285,300 4,006,800
23,042,000 18,756,700
TOTAL(A) 23,671,900 19,386,600
Deferred Tax Liabilities
Related to Fixed Assets
Opening Balance 2,422,600 3,693,000
Add: During the year (546,100) (1,270,400)
1,876,500 2,422,600
TOTAL (B) 1,876,500 2,422,600
TOTAL (A-B) 21,795,400 16,964,000
11 Long Term Loans & Advances
(unsecured and considered good)
(a) Security Deposits 523,170 523,170
(b) Advance Income Tax (Net of Provisions) 10,988,708 10,698,601
(c) Other Loans & Advances 32,291
Advances recoverable in cash or in kind or for value to be - -
11,544,169 11,221,771
12 Inventory
Paper Purchase 183,517 256,871
183,517 256,871
13 Trade Receivables
(Unsecured and Considered good)
Over six months 3,987,450 2,065,286
Others 6,475,471 12,903,841
TOTAL 10,462,921 14,969,127
14 Cash and Bank Balances:
Cash and Cash Equivalents
Cash on hand 24,664 31,605
Balances with Banks
- Current 1,170,729 101,064
- Fixed Deposits
TOTAL 1,195,392 132,668
15 Short-Term Loans & Advances
(unsecured and considered good)
(a) Loans and advances to related parties - -
(b) Deposits- Earnest money deposit - -
(b) Others -Advance recoverable in cash or in kind or
for value to be received 26,987 41,180
26,987 41,180
CYBER MEDIA RESEARCH & SERVICES LIMITED
Notes on financial statements for the year ended 31st March, 2016
CIN : U74130DL1996PLC081509
Note
No. Particualrs
(all figures in INR)
Year Ended Year Ended
31.03.2016 31.03.2015
16 Revenue from Operations
(a) Sale of Services 80,793,001 56,087,279
TOTAL 80,793,001 56,087,279
16.1 Sale of services represents sale of media services.
17 Other Income
Interest income
From Others 178,550 192,586
Other non-operating income (net of expenses directly
attributable to such income)
Miscellaneous Income 90,640 5,386
Net gain/loss on foreign currency translation and
transaction (other than considered as finance cost) - -
TOTAL 269,190 197,972
18 Employee benefits expense
(a) Salaries and Wages 32,940,898 28,281,496
(b) Contribution to Provident & Other Funds 1,080,904 1,285,038
(c) Professional Expenses 5,892,410 -
(c) Staff Welfare Expenses. 486,156 342,059
(d) Staff Recruitment & Training Expenses. - -
40,400,368 29,908,593
18.1 Employees Benefits
i. Gratuity Plan
ii. Leave Encashment Plan
b. Movement in net liability
Particulars
Leave
Encashment
Present value of obligations as on 31.03.2015 1,329,983
Current Service Cost 181,464
Past Service Cost
Interest Cost 103,739
Actuarial (gain)/loss on obligation (321,142)
Less: Benefits paid -
Present value of obligations as on 31.03.2016 1,294,044
c. Reconciliation of assets and liabilities
Particulars
Leave
Encashment Present value of unfunded defined benefit obligations
as on 31.03.2015 1,294,044
Fair value of plan assets** -
Note
No. Particulars
CYBER MEDIA RESEARCH & SERVICES LIMITED
Notes on financial statements for the year ended 31st March, 2016
In accordance with the revised Accounting Standard 15 notified under the Companies
(Accounting Standards) Rules, 2006 the requisite disclosures are as follows:
The Company has created a Trust with Life Insurance Corporation Of India under Group
Gratuity Scheme. The Premium paid towards this Scheme is charged to Profit & Loss
Account on payment basis.
The earned leave liability arises on retirement, withdrawal, resignation and death of an
employee. The aforesaid liability is calculated on the basis of yearly accrual of 15 days
salary (i.e last drawn salary) subject to maximum accumulation up to 90 days.
CIN : U74130DL1996PLC081509
(all figures in INR)
Year Ended Year Ended
31.03.2016 31.03.2015
Note
No. Particulars
Notes on financial statements for the year ended 31st March, 2016
Unrecognized Actuarial (gains)/Losses -
Net liability recognized on 31.03.2016 1,294,044
d. Principal actuarial assumptions
Particulars Rate
Discount rate as on 31.03.2016 7.3%
Future salary increase 6%
Average outstanding service of employees upto retiremen 25.34 yrs
19 Finance Cost
(a) Interest Expense 2,700,982 2,702,255
(b) Other borrowing costs - -
TOTAL 2,700,982 2,702,255
20 Depreciation & Amortization expenses
- Amortization Expenses 1,214,716 1,214,716
- Depreciation Expenses 1,344,610 2,395,142
TOTAL 2,559,326 3,609,858
21 Other Expenses
(a) Research, Survey & Convention expenses 40,584,207 22,565,873
(b) Power & Fuel 2,089,717 1,132,501
(c) Rent 279,751 132,513
(d) Repairs to Building 522,429 -
(e) Repairs to Machinery 48,180 65,355
(f) Insurance 47,588 64,233
(g) Rates & Taxes (excluding Income Tax) 38,508 22,367
(h) Miscellaneous Expenditure 2,599,383 1,320,711
(i) Net loss on foreign currency transaction and
translation (other than considered as a finance cost)
(j) Payment to auditors 45,800 44,944
(k) Legal and Professional charges 175,219 4,475,647
(l) Correspondence & Communication 2,436,638 614,850
(m) Travelling and conveyance 2,227,720 2,592,563
(n) Corporate Charges - TOTAL 51,095,140 33,031,557
21.1 Miscellaneous expenditure includes the following:
Advertisement & Publicity - -
Bank Charges - -
Directors Fees - -
Lease Rentals / Hire Charges - -
Loss on sale of assets - -
Membership -Professional Bodies 31,461 -
Newspaper, Books & Periodicals 7,208 24,444
other miscellaneous expenses 1,011,635 428,618
Printing & Stationary 74,391 273,366
R & M - Others 436,675 6,332
Vehicle Running & Maintenance 1,038,013 587,951
2,599,383 1,320,711
** The fair value of plan assets is nil since leave encashment plan are wholly unfunded as
on 31st March 2016.
(all figures in INR)
Year Ended Year Ended
31.03.2016 31.03.2015
Note
No. Particulars
Notes on financial statements for the year ended 31st March, 2016
21.2 Payment to Auditors
• As Auditor 22,900 44,944
• For Taxation Matters 22,900 -
• For Company Law Matters - -
• For Management Services - -
• For Other Services - -
• For reimbursement of expenses. - -
TOTAL 45,800 44,944
22 Earnings Per Share
Profit available to equity shareholders (10,862,225) (7,559,512)
Weighted average number of equity shares 150,000 150,000
Basic EPS (Rs. Per share) (72.41) (50.40)
Weighted average number of equity shares, including
'Potential Equity Shares' 150,000 150,000
Diluted EPS (Rs. Per share) (72.41) (50.40)
Face value per equity share 10 10
23 Earnings in foreign exchange
Market Research income 36,780,350 2,323,554
24 Expenditure in foreign currency
Travelling Expenses 137,463 107,854
Other Expenses - -
25 Remittance of foreign currency on account of dividend
Number of shareholders NIL NIL
Number of shares held NIL NIL
Amount of dividend remitted NIL NIL
Year to which it relates NA NA
Note
No.
26
Year Ended
31-03-2016
Year Ended
31-03-2015
Year Ended
31-03-2016
Year Ended
31-03-2015
Year Ended
31-03-2016
Year Ended
31-03-2015 Purchase & Other
expenses - - - - 3,303 18,990
Rent Paid - - -
Interest on loan received - - -
Closing Balances:
Sundry Debtors 2,354,878 11,214,587
Loans & advances given - - - -
Current liabilities - - - - 2,555,165 2,551,862
27
Geographical Segment
2015-16 2014-15 2015-16 2014-15 2015-16 2014-15
India 44,012,651 47,742,251 56,933,554 57,904,793 - 38,699
Singapore 32,325,426 - - - - -
Other Countries- Sales in
each country less than
10% of Total Sales 4,454,924 8,345,028 - - -
TOTAL 80,793,001 56,087,279 56,933,554 57,904,793 - 38,699
28
29
30
31 The Company has not capitalized any borrowing cost during the year.
As per our report attached For and on behalf of Board Of Directors
For N K Goel & Co
Chartered Accountants
(Firm Registration No. 001942N)
Pradeep Gupta
Director
DIN 00007520
Neeraj Kumar Goel
Proprietor
Membership No. 500-16570 Krishan Kant Tulshan
Director
Place : New Delhi DIN 00009764
Dated : 25.05.2016
Segment Reporting
The Company is engaged in the business of 'Market Research and Management Consultancy' which is identified as the
only and primary business segment of the Company. Further all the operating facilities located in India. The information
required to be given for secondary segment being business segment is as under:
Sales Carrying cost of asset Capital Expenditure
The Company has taken various offices under cancellable lease agreement. There are no non-cancellable leases.
Lease payment recognized under cancellable lease for the year are Rs NIL (Previous Year Rs NIL)
CIN : U74130DL1996PLC081509
Names of related partries and description of relationship:
Cyber Media (India) Limited
Mrs. Sudha Bala Gupta
Cyber Astro Limited
Holding Company
Relative of Key Management Personnel
Fellow Subsidiary Company
Previous year figures have been regrouped/ reclassified, wherever necessary, to confirm to current year's classification.
The Company has no other information required to be disclosed pursuant to Schedule III to the Companies Act, 2013.
CYBER MEDIA RESEARCH & SERVICES LIMITED
Notes on financial statements for the year ended 31st March, 2016
Related party Transactions
In accordance with the requirements of Accounting Standard (AS-18) on Related Party Disclosures, the names of
related parties where control exists and/ or with whom transactions have taken place during the year and description
of relationships, as indentified and certified by management are:
Holding Company Relative of KMP Fellow SubsidiaryNature of transactions
Financial Statements of Cyber Astro Limited for the Financial
Year ended 31.03.2016
INDEPENDENT AUDITOR’S REPORT
TO THE MEMBERS OF CYBER ASTRO LIMITED
Report on the Standalone Financial Statements
We have audited the accompanying standalone financial statements of Cyber Astro Limited
(“the Company”), which comprise the Balance Sheet as at 31st March, 2016, the Statement of
Profit and Loss, the Cash Flow Statement for the year then ended, and a summary of the
significant accounting policies and other explanatory information.
Management’s Responsibility for the Standalone Financial Statements
The Company’s Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (“the Act”) with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position, financial
performance and cash flows of the Company in accordance with the accounting principles
generally accepted in India, including the Accounting Standards specified under Section 133 of
the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.
This responsibility also includes maintenance of adequate accounting records in accordance
with the provisions of the Act for safeguarding of the assets of the Company and for
preventing and detecting frauds and other irregularities; selection and application of
appropriate accounting policies; making judgments and estimates that are reasonable and
prudent; and design, implementation and maintenance of adequate internal financial
controls, that were operating effectively for ensuring the accuracy and completeness of the
accounting records, relevant to the preparation and presentation of the financial statements
that give a true and fair view and are free from material misstatement, whether due to fraud
or error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these standalone financial statements based on
our audit.
We have taken into account the provisions of the Act, the accounting and auditing standards
and matters which are required to be included in the audit report under the provisions of the
Act and the Rules made thereunder.
We conducted our audit in accordance with the Standards on Auditing specified under Section
143(10) of the Act. Those Standards require that we comply with ethical requirements and
plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free from material misstatement. An audit involves performing procedures to
obtain audit evidence about the amounts and the disclosures in the financial statements. The
procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In
making those risk assessments, the auditor considers internal financial control relevant to the
Company’s preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes
evaluating the appropriateness of the accounting policies used and the reasonableness of the
accounting estimates made by the Company’s Directors, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide
a basis for our audit opinion on the standalone financial statements.
Opinion
In our opinion and to the best of our information and according to the explanations given to
us, the aforesaid standalone financial statements give the information required by the Act in
the manner so required and give a true and fair view in conformity with the accounting
principles generally accepted in India, of the state of affairs of the Company as at 31st March,
2016, and its Loss and its cash flows for the year ended on that date.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor’s Report) Order, 2016 (“the Order”) issued by the Central Government of India in terms of Section 143(11) of the Act, we give in the
“Annexure A” a statement on the matters specified in paragraphs 3 and 4 of the Order.
2. As required by Section 143 (3) of the Act, we report that:
a) We have sought and obtained all the information and explanations which to the best
of our knowledge and belief were necessary for the purposes of our audit;
b) In our opinion, proper books of account as required by law have been kept by the
Company so far as it appears from our examination of those books;
c) The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement
dealt with by this Report are in agreement with the books of account;
d) In our opinion, the aforesaid standalone financial statements comply with the
Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the
Companies (Accounts) Rules, 2014;
e) On the basis of the written representations received from the directors as on 31st
March, 2016 taken on record by the Board of Directors, none of the directors is
disqualified as on 31st March, 2016 from being appointed as a director in terms of
Section 164 (2) of the Act;
f) With respect to the adequacy of the internal financial controls over financial reporting
of the Company and the operating effectiveness of such controls, refer to our separate
Report in “Annexure B”.
g) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to
the best of our information and according to the explanations given to us:
i. The Company has no litigations and hence no impact on its financial position in
its financial statements.
ii. The Company has made provision, as required under the applicable law or
accounting standards, for material foreseeable losses, if any, on long-term
contracts (refer note 47 on ‘Provision on warranty’ to the financial statements). The Company does not have any derivative contracts;
iii. There has been no delay in transferring amounts, required to be transferred, to
the Investor Education and Protection Fund by the Company.
For N K Goel & Co.
Chartered Accountants,
Firm’s Registration No. 001942N
Neeraj Kumar Goel
Proprietor
Membership No. 500-16570
Place of Signature: New Delhi
Dated: May 25, 2016
Annexure A to the Independent Auditor’s Report to the members of Cyber Astro Limited
dated 25/05/2016
Report on the matters specified in paragraph 3 of the Companies (Auditor’s Report) Order, 2016 (“the Order’) issued by the Central Government of India in terms of section 143(11) of the Companies Act, 2013 (“the Act”) as referred to in paragraph 1 of ‘Report on Other Legal
and Regulatory Requirements’ section
(i) (a) The Company is maintaining proper records showing full particulars, including
quantitative details and situation of fixed assets;
(b) These fixed assets have been physically verified by the management at
reasonable intervals; no material discrepancies were noticed on such verification.
(c) The title deeds of immovable properties are held in the name of the Company.
(ii) The physical verification of inventory has been conducted at reasonable intervals by
the management and no any material discrepancies were noticed;
(iii) The Company has not granted any loans, secured or unsecured to companies, firms,
Limited Liability Partnerships or other parties covered in the register maintained under
section 186 of the Companies Act, 2013.
(iv) The Company has not made any loans, investments, guarantees and security to which
section 185 & 186 of the Companies Act, 2013 are applicable, hence clause (iv) of
paragraph 3 of the Order is not applicable to the Company;
(v) The Company has not accepted any deposits to which chapter V of the Companies Act,
2013 is applicable, hence clause (v) of paragraph 3 of the Order is not applicable to the
Company;
(vi) The Central Government has not prescribed the maintenance of cost records for the
activities carried on by the Company during the year ended 31st March 2016 under
sub-section (1) of section 148 of the Companies Act, 2013, hence clause (vi) of
paragraph 3 of the Order is not applicable to the Company;
(vii) (a) The Company is generally regular in depositing undisputed statutory dues of
provident fund, employees' state insurance, income-tax, sales-tax, service tax, duty of
customs, duty of excise, value added tax, cess and other statutory dues required to be
deposited with the appropriate authorities. There were no outstanding statutory dues
as on the last day of the financial year concerned for a period of more than six months
from the date they became payable.
(b) There are no dues of income tax or sales tax or service tax or duty of customs or
duty of excise or value added tax that have not been deposited on account of any
dispute.
(viii) The Company has not defaulted in repayment of loans or borrowings to a financial
institution, bank, Government or dues to debenture holders, hence clause (viii) of
paragraph 3 of the Order is not applicable to the Company;
(ix) The Company has not raised any money by way of initial public offer or further public
offer (including debt instruments). The Company has not term loan, neither the
Company has applied the term loan during the financial year.
(x) No fraud by the Company or fraud on the Company by its officers or employees has
been noticed or reported during the year;
(xi) Managerial remuneration has been paid or provided in accordance with the requisite
approvals mandated by the provisions of section 197 read with Schedule V to the
Companies Act, 2013.
(xii) The Company is not a Nidhi Company, hence clause (xii) of paragraph 3 the Order is
not applicable to the Company;
(xiii) All the transactions with the related parties are in accordance with section 188 of the
Companies Act, 2013. Adequate disclosures as required by the applicable accounting
standards have been made in these financial statements;
(xiv) The Company has neither made preferential allotment nor private placement of shares
or fully & partly convertible debentures during the year under audit, hence clause (xiv)
of paragraph 3 the Order is not applicable to the Company;
(xv) The Company has not entered into with non-cash transactions with directors and
persons connected with him, hence clause (xv) of paragraph 3 the Order is not
applicable to the Company;
(xvi) The Company is not required to be registered under section 45-IA of the Reserve Bank
of India Act, 1934;
For N K Goel & Co.
Chartered Accountants,
Firm’s Registration No. 001942N
Neeraj Kumar Goel
Proprietor
Membership No. 500-16570
Place of Signature: New Delhi
Dated: May 25, 2016
Annexure B to the Independent Auditor’s Report to the members of Cyber Astro Limited
dated 25/05/2016
Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of
the Companies Act, 2013 (“the Act”) as referred to in paragraph 2(f) of ‘Report on Other
Legal and Regulatory Requirements’ section
We have audited the internal financial controls over financial reporting of Cyber Astro
Limited (“the Company”) as of March 31, 2016 in conjunction with our audit of the standalone financial statements of the Company for the year ended on that date.
Management’s Responsibility for Internal Financial Controls
The Company’s management is responsible for establishing and maintaining internal financial controls based on “the internal control over financial reporting criteria established by the
Company considering the essential components of internal control stated in the Guidance
Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of
Chartered Accountants of India”. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for
ensuring the orderly and efficient conduct of its business, including adherence to Company’s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the
accuracy and completeness of the accounting records, and the timely preparation of reliable
financial information, as required under the Companies Act, 2013.
Auditors’ Responsibility
Our responsibility is to express an opinion on the Company's internal financial controls over
financial reporting based on our audit.
We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial
Controls Over Financial Reporting (the “Guidance Note”) and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act,
2013, to the extent applicable to an audit of internal financial controls, both applicable to an
audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants
of India. Those Standards and the Guidance Note require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about whether
adequate internal financial controls over financial reporting was established and maintained
and if such controls operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the
internal financial controls system over financial reporting and their operating effectiveness.
Our audit of internal financial controls over financial reporting included obtaining an
understanding of internal financial controls over financial reporting, assessing the risk that a
material weakness exists, and testing and evaluating the design and operating effectiveness of
internal control based on the assessed risk. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide
a basis for our audit opinion on the Company’s internal financial controls system over financial reporting.
Meaning of Internal Financial Controls over Financial Reporting
A company's internal financial control over financial reporting is a process designed to provide
reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted accounting
principles. A company's internal financial control over financial reporting includes those
policies and procedures that:
a) pertain to the maintenance of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of the company;
b) provide reasonable assurance that transactions are recorded as necessary to permit
preparation of financial statements in accordance with generally accepted accounting
principles, and that receipts and expenditures of the company are being made only in
accordance with authorisations of management and directors of the company; and
c) provide reasonable assurance regarding prevention or timely detection of unauthorised
acquisition, use, or disposition of the company's assets that could have a material effect
on the financial statements.
Inherent Limitations of Internal Financial Controls over Financial Reporting
Because of the inherent limitations of internal financial controls over financial reporting,
including the possibility of collusion or improper management override of controls, material
misstatements due to error or fraud may occur and not be detected. Also, projections of any
evaluation of the internal financial controls over financial reporting to future periods are
subject to the risk that the internal financial control over financial reporting may become
inadequate because of changes in conditions, or that the degree of compliance with the
policies or procedures may deteriorate.
Opinion
In our opinion, the Company has, in all material respects, an adequate internal financial
controls system over financial reporting and such internal financial controls over financial
reporting were operating effectively as at March 31, 2016, based on “the internal control over financial reporting criteria established by the Company considering the essential components
of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over
Financial Reporting issued by the Institute of Chartered Accountants of India”.
For N K Goel & Co.
Chartered Accountants,
Firm’s Registration No. 001942N
Neeraj Kumar Goel
Proprietor
Membership No. 500-16570
Place of Signature: New Delhi
Dated: May 25, 2016
(all figures in INR)
Particulars Note
As at
31st March 2016
As at
31st March 2015
EQUITY & LIABILITIES
Shareholders’ FundsShare Capital 2 2,000,000 2,000,000
Reserves & Surplus 3 (7,883,996) (7,194,414)
(5,883,996) (5,194,414)
Non-current Liabilities
Long-term Provisions 4 1,887,739 821,824
1,887,739 821,824
Current Liabilities
Trade Payables 5
-Micro Small and Medium Enterprises - -
-Others 16,597,359 16,736,761
16,597,359 16,736,761
Other Current Liabilities 6 493,069 487,536
Short-term Provisions 7 848,550 961,732
17,938,978 18,186,029
TOTAL 13,942,721 13,813,439
ASSETS
Non-Current Assets
Fixed Assets 8
(i) Tangible Assets 1,391,812 1,602,316
(ii) Intangible Assets 582,561 374,108
(iii) Capital Work-in Progress - -
(iv) Intangible Assets under development - -
1,974,373 1,976,424
Non-current Investments 9 20,000 20,000
Deferred Tax Assets (net) 10 591,900 264,100
Long-term Loans and Advances 11 3,189,993 3,537,316
5,776,266 5,797,840
Current Assets
Inventories 12 1,278,886 1,316,577
Trade Receivables 13 3,294,669 3,743,991
Cash and Cash Equivalents 14 2,816,362 2,213,252
Short-term Loans and Advances 15 776,538 741,779
8,166,455 8,015,599
TOTAL 13,942,721 13,813,439
Significant Accounting Policies
Notes on Financial Statements 1 to 34
As per our report attached
For N K Goel & Co. For and on behalf of Board Of Directors
Chartered Accountants
(Firm Registration No. 001942N)
Pradeep Gupta
Director
DIN 00007520
Neeraj Kumar Goel
ProprietorMembership No. 500-16570
Satrajit Majumdar
Place: New Delhi Director
Date- 25.05.2016 DIN 00019588
CYBER ASTRO LIMITED
BALANCE SHEET AS AT 31ST MARCH, 2016
CIN : U93090DL1997PLC086975
(all figures in INR)
ParticularsNote
As at
31st March, 2016
As at
31st March, 2015
INCOME
Revenue from Operations 16 51,074,738 49,834,344
Other Income 17 21,280 376,562
Total Revenue 51,096,018 50,210,906
EXPENDITURE
Purchases of Stock-in-Trade 18 1,058,298 1,478,975
Changes in Inventories of Finished Goods/Work-in-Progress
and Stock-in-Trade 19 37,691 57,115
Employee Benefits Expenses 20 19,628,406 18,468,413
Finance Costs 21 - -
Depreciation and Amortization 22 463,712 833,502
Other Expenses 23 30,916,626 29,124,717
Total Expenses 52,104,733 49,962,722
Profit Before Tax (1,008,715) 248,185
Tax Expenses
(1) Current Tax 8,667 114,349
(2) Deferred Tax (327,800) 67,500
Profit (Loss) for the Period (689,581) 66,336
Earnings per equity share of face value of Rs 10/- each 24
(1) Basic (3.45) 0.33
(2) Diluted (3.45) 0.33
Significant Accounting Policies
Notes on Financial Statements 1 to 34
As per our report attached
For N K Goel & Co. For and on behalf of Board Of Directors
Chartered Accountants
(Firm Registration No. 001942N)
Pradeep Gupta
Director
DIN 00007520
Neeraj Kumar Goel
Proprietor
Membership No. 500-16570 Satrajit Majumdar
Director
Place: New Delhi DIN 00019588
Date- 25.05.2016
CYBER ASTRO LIMITED
STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31ST MARCH, 2016
CIN : U93090DL1997PLC086975
(all figures in INR)
As at
31st March, 2016
As at
31st March,
2015
A CASH FLOW FROM OPERATING ACTIVITIES
Net Profit Before Tax (1,008,715) 248,185
Adjustments for:
Depreciation 463,712 833,502
Interest Paid - -
Employee Benefits Expense 952,733 (1,134,096)
Interest Received (21,280) (370,062)
Exchange Difference in Foreign Diff. - -
1,395,165 (670,656)
Operating profit before working capital
changes 386,450 (422,471)
Adjustments for:
(Increase)/decrease in Inventories 37,691 57,115
(Increase)/decrease in Trade Receivable 449,322 (106,013)
(Decrease)/Increase in Current Liabilities &
Provisions (133,869) (9,901,481)
(Increase)/Decrease in Loans & Advances (34,759) (51,277)
318,384 (10,001,656)
Cash Generated From Operations 704,834 (10,424,127)
Income Tax Paid (338,656) 611,291
Net cash from Operating Activities 1,043,490 (11,035,418)
B CASH FLOW FROM INVESTING ACTIVITIES
Inflows:
Sale of fixed assets 146,538 71,850
Interest Received 21,280 370,062
167,818 441,912
Outflows:
Acquisition of fixed assets (608,199) (608,199) (439,205)
Increase in investments -
Net cash from Investing Activities (440,382) 2,707
C CASH FLOW FROM FINANCING ACTIVITIES
Inflows:
Proceeds from Secured Loans - -
-
Outflows:
Net Proceeds from borrowings - -
Interest Paid - -
- -
Net cash from Financing activities - -
D EXCHANGE DIFFERENCE IN FOREIGN
CURRENCY - -
Net (Decrease)Increase in Cash & Cash
equivalents (A+B+C+D) 603,109 (11,032,711)
Cash & Cash Equivalents (Opening) 2,213,252 13,245,965
Cash & Cash Equivalents (Closing) 2,816,362 2,213,254
0 -
Notes to Cash Flow Statement
CIN : U93090DL1997PLC086975
CYBER ASTRO LIMITED
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2016
1) The cash flow statement has been prepared in accordance with the requirements of Accounting
Standard – 3 “Cash Flow Statement” .2) Cash flows have been reported using the indirect method, whereby the net profit is adjusted for the
effects of transactions of a non-cash nature and any deferrals or accruals of past or future cash
As per our report attached
For N K Goel & Co. For and on behalf of Board Of Directors
Chartered Accountants
(Firm Registration No. 001942N)
Pradeep Gupta
Director
DIN 00007520
Neeraj Kumar Goel
Proprietor
Membership No. 500-16570
Satrajit Majumdar
Place: New Delhi Director
Date- 25.05.2016 DIN 00019588
3) Significant cash and cash equivalent balances held by the enterprise are available for use by the
This is the Cash Flow Statement Referred to in our report of even date
4) Previous year's figures have been regrouped whereever necessary.
2) Cash flows have been reported using the indirect method, whereby the net profit is adjusted for the
effects of transactions of a non-cash nature and any deferrals or accruals of past or future cash
CYBER ASTRO LIMITED NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2016
1. Significant Accounting Policies
The significant accounting policies adopted by the Company in respect of these financial
statement, are set out below:
1.1 Basis of Preparation of financial statements
The financial statements are prepared in accordance with Indian Generally Accepted
Accounting Principles (“GAAP”) under the historical cost convention on the accrual basis. GAAP comprises mandatory accounting standards as specified under section 133 of the
Companies Act, 2013 including any statutory modification(s)/amendment(s) thereto (the
“Act”) read with the Companies (Accounting Standards) Rules, 2006, the provisions of the Act (to the extent notified), guidelines issued by the Securities and Exchange Board of India
and pronouncements of the Institute of Chartered Accountants of India. Accounting policies
have been consistently applied except where a newly issued accounting standard is initially
adopted or a revision to an existing accounting standard requires a change in the accounting
policy hitherto in use.
The management evaluates all recently issued or revised accounting standards on an
ongoing basis.
1.2 Revenue Recognition
Revenues of all material items and nature are recognized in accordance with Accounting
Standard – 9, i.e., at the time of rendering of services or sales. If at the time of rendering of
services or sales there is significant uncertainty in ultimate collection of the revenue, then
the revenue recognition is postponed and in such cases revenue is recognized only when it
becomes reasonably certain that ultimate collection will be made. When uncertainty of
collection of revenue arises subsequently after the revenue recognition, provision for the
uncertainty in collection is made rather than adjustment in revenue already recognized.
Turnover includes gross value of goods and services and taxes. Dividend income is
recognized when right to receive is established. Interest income is recognized on time
proportion basis taking into account the amount outstanding and rate applicable.
1.3 Fixed Assets, Intangible Assets and Capital Work-In -Progress
Fixed Assets are stated at cost less accumulated depreciation. Direct costs are capitalized
until fixed assets are ready to use. Capital work-in progress comprises outstanding advances
paid to acquire fixed assets, and the cost of fixed assets that are not ready for their intended
use at the balance sheet date. Intangible assets are recorded at the consideration paid for
acquisition.
1.4 Depreciation/ Amortization
Depreciation is provided on the straight-line method at the rates and in the manner
prescribed in Schedule II to the Act on all the assets. Intangible Assets are amortized in
accordance with Accounting Standard 26 on “Intangible Assets”. Purchased ‘Intangible Assets’ is accordingly amortized on a straight line method over its estimated useful lives as
specified in Schedule II.
CYBER ASTRO LIMITED NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2016
The cost of internally generated website is accordingly amortized as prescribed in Schedule
II.
Depreciation for assets purchased / sold during a period is proportionately charged.
Individual low cost assets (acquired for less than Rs. 5,000/-) are entirely depreciated in the
year of acquisition
1.5 Investments
Trade Investments are the investments made to enhance the Company’s business interests. Investments are either classified as current and long- term based on the management
intention at the time of purchase. Current investments are carried at the lower of cost and
fair value. Long-term investments are carried at cost and provisions recorded to recognize
any decline, other than temporary, in the carrying value of each investment.
1.6 Inventory
Inventory of Newsprint, goods in transit are stated at cost or net realizable value, whichever
is lower. Cost comprises all cost of purchase, cost of conversion and other costs incurred in
bringing the inventories to their present location and condition. Cost formulae used are
‘First In First Out’. Due allowance is estimated and made for defective and obsolete items, wherever necessary, based on the past experience of the Company.
1.7 Foreign Currency Transactions
Transactions in Foreign Currency are recorded at the exchange rate prevailing at the date of
transaction. Monetary items are restated at year-end foreign exchange rates. Resultant
exchange differences arising on payment or conversion of liabilities are recognized as
income or expense in the year in which they arise.
1.8 Retirement Benefits
a) Company’s contribution to the Employees’ Provident Fund is charged to the profit and loss account each year.
b) Short term employee benefits (Medical, Leave travel allowance, etc.) expected to be paid
in exchange for the services rendered are recognised on undiscounted basis
c) Actuarial gains and losses arising from experience adjustments and effects of changes in
actuarial assumptions are immediately recognised in the statement of profit and loss
account as income or expense.
d) Gratuity and Leave encashment are provided for on the basis of an actuarial valuation
using projected unit credit method (PUCM).
1.9 Taxation
Income tax is computed using the tax effect accounting method; where income tax is
accrued in the same period in which the related revenue and expenses arise. A provision is
made for income tax annually based on the tax liability computed, after considering tax
CYBER ASTRO LIMITED NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2016
allowances and exemptions. Provision is also recorded when it is estimated that a liability
due to disallowances or other matters is probable.
The differences that result between the profit considered for income taxes and the profit as
per the financial statements are identified, and thereafter a deferred tax asset or deferred
tax liability is recorded for timing differences, namely the differences that originate in one
accounting period and reverse in another, based on the tax effect of the aggregate amount
being considered. The tax effect is calculated on the accumulated timing differences at the
end of an accounting period based on prevailing enacted or substantively enacted
regulations. Deferred tax assets are recognized only if there is reasonable or virtual certainty
that they will be realized and are reviewed for the appropriateness of their respective
carrying values at each balance sheet date.
1.10 Borrowing Cost
Borrowing cost attributable to the acquisition or construction of a qualifying asset is
capitalized as a part of the cost of that asset. A qualifying asset is one, which takes
substantial period of time to get ready for intended use. Other borrowing costs are
recognized as an expense in the period in which they are incurred.
1.11 Impairment of Assets
Assets that are subject to amortization are reviewed for impairment whenever events or
changes in circumstances indicate that the carrying amount may not be recoverable. An
impairment loss is recognized for the amount by which the assets’ carrying amount exceeds its recoverable amount. The recoverable amount is the higher of the assets’ fair value less cost to sell and value in use. For the purpose of assessing impairment, assets are grouped at
the lowest levels for which there are separately identifiable cash flows (Cash generating
units).
1.12 Earnings Per Share
In determining earnings per share, the Company considers the net profit after tax and
includes the post tax effect of any extraordinary / exceptional items. The number of shares
used in computing basic earnings per share is the weighted average number of shares
outstanding during the period. The number of shares used in computing Diluted EPS
comprises weighted average shares considered for deriving Basic EPS, and also the weighted
average number of equity shares which could have been issued on the conversion of all
dilutive potential equity shares. The anti-dilutive effect, if any, of potential equity shares on
diluted EPS is ignored as per the requirement of accounting standard -20 on “Earning per Share”.
1.13 Provisions, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement are recognized when
there is a present obligation as a result of past events and it is probable that there will be an
outflow of resources. Contingent liabilities are not recognized but disclosed in the notes.
Contingent assets are neither recognized nor disclosed in the financial statement.
CYBER ASTRO LIMITED NOTES ON FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2016
1.14 Leases
Lease rentals in respect of assets taken on “Operating Lease” are charged to the Profit &
Loss Account.
(all figures in INR)
Note
No. As at
31st March, 2016
As at
31st March, 2015
2 Share Capital
Authorized Share Capital:
200,000 (200,000) Equity Shares of Rs.10/- each 2,000,000 2,000,000
2,000,000 2,000,000
Issued, Susbcribed and Paid Up
200,000 (200,000) Equity Shares of Rs.10/- each, fully paid up 2,000,000 2,000,000
TOTAL 2,000,000 2,000,000
2.1 The details of shareholders holding more than 5%
Name of the Shareholder
No. of shares % held No. of shares % held
Cyber Media India Ltd. 75,000 37.50% 75,000 37.50%
Mr. Satrajit Majumdar 40,000 20.00% 40,000 20.00%
Mr. Pradeep Gupta 47,984 23.99% 47,984 23.99%
Mrs. Anuradha Gupta 15,000 7.50% 15,000 7.50%
2.2 The reconciliation of number of shares outstanding is set
out below:
Particulars No. of shares Amount No. of shares Amount
Equity Shares at the beginning of the year 200,000 2,000,000 200,000 2,000,000
Add: Shares Issued during the year - - - -
Equity Shares at the end of the year 200,000 2,000,000 200,000 2,000,000
3 RESERVES AND SURPLUS
Profit and Loss Account
As per last Balance Sheet (7,194,414) (7,579,972)
Add: Profit for the year (689,581) 66,336
Dep.Adjusted as per Shedule II Companies Act 2013 -
Less: Appropriations - 319,222
(7,883,996) (7,194,414)
TOTAL (7,883,996) (7,194,414)
4 Long term Provisions
(a) Provision for employees’ benefits. 1,887,739 821,824
TOTAL 1,887,739 821,824
5 Trade payables
Micro Small and Medium Enterprises - -
Others 16,597,359 16,736,761
TOTAL 16,597,359 16,736,761
5.1
5.2
The Company has not received any intimation from Micro, Small and Medium enterprises under the 'Micro, Small and Medium
Enterprises development Act, 2006'. As per information available with the company, no interest is paid or payable under the Act.
Trade Payables includes amount payable to vendors,consultants,employees and inter company balances etc.
CYBER ASTRO LIMITED
Notes on financial statements for the year ended 31st March, 2016
CIN : U93090DL1997PLC086975
As at
31st March, 2016
As at 31st
March, 2015
6 Other Current Liabilities
(a) Advance payments for which value is still to be given 131,788 13,342
(b) Unpaid dividend - -
(c) Interest Due but not paid - -
(d) Other Payables
- Creditors Against Capital Expenditure - -
- Statutory Dues 261,281 374,194
- Other Advances - -
- Security Deposit 100,000 100,000 TOTAL 493,069 487,536
7 Short term Provisions
(a) Provision for employees’ benefits. 779,145 849,153
(b) Provision for Expenses 69,405 112,579
(c) Provision for Income Tax -
TOTAL 848,550 961,732
Note No. 8: Fixed Assets Notes on Financial Statements for the period ended 31st March, 2016
(all figures in INR)
Particulars
As At
01.04.2015 Additions Sales Adjustment
As At
31.03.2016
As At
01.04.2015
For the
period
Deduction /
Adjustments
As At
31.03.2016
As At
31.03.2016
As At
31.03.2015
TANGIBLE ASSETS
Computers Equipments 1,903,654 37,950 - - 1,941,604 1,683,601 110,451 1,794,052 147,552 220,053
Furniture & Fixtures 968,173 59,263 - - 1,027,436 145,898 100,184 246,082 781,354 822,275
Office Equipments 536,802 151,560 17,000 - 671,362 261,850 106,620 3,539 364,931 306,431 274,952
Air Conditioner 262,616 80,000 - - 342,616 121,419 64,722 186,141 156,475 141,197
Vehicle-Car 152,155 152,155 - - 8,316 10,762 19,078 (0) 0 143,839
TOTAL TANGIBLE ASSETS (A) 3,823,400 328,773 169,155 3,983,018 2,221,084 392,739 22,617 2,591,206 1,391,812 1,602,316
Previous Year Balance 3,495,442 419,257 91,300 - 3,823,399 1,770,626 469,908 19,450 2,221,084 1,602,315 1,724,816
INTANGIBLE ASSETS
Software 444,161 279,426 - - 723,587 70,053 70,973 141,026 582,561 374,108
TOTAL INTANGIBLE ASSETS (B) 444,161 279,426 - - 723,587 70,053 70,973 - 141,026 582,561 374,108
Previous Year Balance 424,211 19,950 - - 444,161 25,681 44,372 70,053 374,108 398,530
TOTAL (A+B) 4,267,561 608,199 169,155 - 4,706,605 2,291,137 463,712 22,617 2,732,232 1,974,373 1,976,424
Previous Year Balance 3,919,653 439,207 91,300 - 4,267,560 1,796,307 514,280 19,450 1,796,307 1,976,423 2,123,346
GROSS BLOCK DEPRECIATION/AMORTIZATION NET BLOCK
Cyber Astro Limited
CIN : U93090DL1997PLC086975
(all figures in INR)
Note
No.
Particulars As at
31st March
2016
As at
31st March,
2015
9 Non-Current Investments
Investment in Subsidiary Company
Other Investments
Unquoted
ESOP Trust - Settlors' Amount 20,000 20,000 TOTAL 20,000 20,000
9.1 Aggregate amount of the Unquoted
Investments 20,000 20,000
10 Deferred Tax Assets (Net)
Deferred Tax Assets
Disallowance under the Income Tax Act
Opening Balance 383,200 470,500
Add : During the year 327,400 (87,300)
710,600 383,200
Carry Forward Losses
Opening Balance - -
Add : During the year - -
- -
TOTAL (A) 710,600 383,200
Deferred Tax Liabilities
Related to Fixed Assets
Opening Balance 119,100 138,900
Add : During the year (400) (19,800)
118,700 119,100
TOTAL (B) 118,700 119,100
TOTAL (A-B) 591,900 264,100
11 Long Term Loans & Advances
(Unsecured,considered good)
(a) Security Deposits -
(b) Advance Income Tax (Net of Provisions) 1,077,978 1,255,090
(c) Other Loans & Advances -
Advance recoverable in cash or in kind 2,112,015 2,282,226 Total 3,189,993 3,537,316
12 Inventories
(a) Stock-in-Trade (in respect of goods
acquired for trading) 1,278,886 1,316,577 TOTAL 1,278,886 1,316,577
12.1
13 Trade Receivables
(unsecured and considered good)
over six months - -
others 3,294,669 3,743,991 TOTAL 3,294,669 3,743,991
13.1
CYBER ASTRO LIMITED
Valuation of Raw Materials and Stock-in-Trade are valued at First in First Out
Method
Trade receivable includes amount due from Subsidiary/Associates on account
Notes on financial statements for the year ended 31st March, 2016
CIN : U93090DL1997PLC086975
(all figures in INR)
Note
No.
Particulars As at
31st March
2016
As at
31st March,
2015
CYBER ASTRO LIMITED
Notes on financial statements for the year ended 31st March, 2016
CIN : U93090DL1997PLC086975
14 Cash and Bank Balances :
Cash and Cash Equivalents
Cash in hand - -
Balances with Banks
-Current Accounts 2,674,617 2,071,507
-FDR with Bank 141,745 141,745
Margin Money - TOTAL 2,816,362 2,213,252
15 Short-Term Loans & Advances
(unsecured and considered good)
(a) Loans and advances to related parties - -
(b) Security Deposit 776,538 741,779
(c) Other Loan and Advances (In Cash or
kind) - -
(d) Advance given to party - - Total 776,538 741,779
(all figures in INR)
Note
No.
As at
31st March,
2016
As at
31st March,
2015
16 Revenue from Operations
(a) Sale of Products 3,132,258 4,284,097
(b) Sale of Services 47,942,480 45,550,247
(c) Other Operating Revenues - - TOTAL 51,074,738 49,834,344
16.1 Sale of service represents technical, astrology services and sale of gemstones etc.
17 Other Income
Interest income 21,280 370,062
From Others - 6,500 TOTAL 21,280 376,562
18 Purchase of Stock - in - Trade
Purchase 1,058,298 1,478,975 TOTAL 1,058,298 1,478,975
19
Inventories (at close)
Finished Goods 1,278,886 1,316,577
Inventories (at commencement)
Finished Goods 1,316,577 1,373,692 TOTAL 37,691 57,115
20 Employee Benefits Expenses
Salaries and Wages 18,403,005 16,703,215
Contribution to Provident & Other Funds 728,841 771,053
Staff Welfare Expenses 496,560 994,145 Total 19,628,406 18,468,413
20.1
a. Description of the type of plan(s)
i. Gratuity Plan
ii. Leave Encashment Plan
b. Movement in net liability
Particulars
Leave
Encashment Total
Present value of obligations as on 31.03.15 414,888 1,048,073
Current Service Cost 56,608 105,996
Past Service Cost - -
Interest Cost 32,361 85,857
Actuarial (gain)/loss on obligation (58,890) 647,813
Less: Benefits paid - - Present value of obligations as on 31.03.16 444,967 1,887,739
Notes on financial statements for the year ended 31st March, 2016
Changes in Inventories of finished goods, Work-in-
Progress and Stock-in-trade.
CYBER ASTRO LIMITED
In accordance with the revised Accounting Standard 15 notified under the Companies
(Accounting Standards) Rules, 2006 the requisite disclosures are as follows:
The Gratuity liability arises on retirement, resignation and death of an employee. The
aforesaid liability is calculated in accordance with The Payment Of Gratuity Act, 1972.
The earned leave liability arises on retirement, withdrawal, resignation and death of an
employee. The aforesaid liability is calculated on the basis of yearly accrual of 30 days
salary (i.e last drawn salary) subject to maximum accumulation up to 90 days.
CIN : U93090DL1997PLC086975
(all figures in INR)
Note
No.
As at
31st March,
2016
As at
31st March,
2015
Notes on financial statements for the year ended 31st March, 2016
c. Reconciliation of assets and liabilities
Particulars
Leave
Encashment TotalPresent value of unfunded defined benefit obligations
as on 31.03.16 444,967 1,887,739
Fair value of plan assets ** - - Net liability recognized on 31.03.2016 444,967 1,887,739
d. Principal actuarial assumptions
Particulars Rate (%)
Discount rate as on 31.03.2016 7.30%
Future salary increase 6.00%
Average outstanding service of employees upto 25.59
21 Finance Cost
(a) Interest Expense - -
(b) Other Borrowing Costs -
Bank Charges -
CC Account Processing fee - TOTAL - -
22 Depreciation & Amortization expenses
Amortization expenses 70,973 44,372
Depreciation expenses 392,739 789,130 TOTAL 463,712 833,502
23 Other expenses
Consulting & Technology Expenses 14,824,186 14,662,215
Discount/Commission on Sales & Services - -
Power & Fuel 1,632,000 1,105,760
Rent 2,576,000 2,371,100
Repairs to Building 136,605 132,554
Repairs to Machinery 54,617 444,941
Insurance 19,210 30,769
Rates & Taxes (excluding Income Tax) 280,760 (202,983)
Miscellaneous Expenditure 2,504,357 2,874,402
Net loss on foreign currency transaction and
translation (other than considered as finance cost) - -
Payment to Auditors 105,605 68,736
Legal and Professional charges 6,053,886 4,281,369
Correspondence & Communication 1,881,405 1,411,593
Travelling & Conveyance 847,996 1,944,260 TOTAL 30,916,626 29,124,717
** The fair value of plan assets is nil since gratuity and leave encashment plan are
wholly unfunded as on 31st March, 2016
(all figures in INR)
Note
No.
As at
31st March,
2016
As at
31st March,
2015
Notes on financial statements for the year ended 31st March, 2016
23.1 Payment to Auditors
• As Auditor 57,500 68,736
• For Taxation Matters 28,750 -
• For Company Law Matters - -
• For Management Services -
• For Other Services 19,355
• For reimbursement of expenses. - TOTAL 105,605 68,736
23.2 Miscellaneous expenditure includes the following:
Advertisement & Publicity 9,900 22,091
News Paper & Periodicals 61,727
Bank Charges 55,409 -
Directors Fees - 10,225
Lease Rentals / Hire Charges - -
Loss on Sale of Assets - 2,094,576
Membership fees 44,425 92,807
Newspaper, Books & Periodicals 260 132,612
other miscellaneous expenses 1,569,074 460,365
Printing & Stationary 53,455 92,807
R & M - Others 239,680 132,612
Vehicle Running & Maintenance 532,154 460,365
2,504,357 3,560,186
24 Earnings Per Share
Profit available to equity shareholders (689,581) 66,336
Weighted average number of equity shares 200,000 200,000
Basic EPS (Rs. Per share) (3.45) 0.33
Weighted average number of equity shares, including
'Potential Equity Shares' 200,000 200,000
Diluted EPS (Rupees Per share) (3.45) 0.33
Face value per equity share 10 10
25 Earning in Foreign exchange
Consulting & Spiritual Services 47,690,622 31,730,964
26 Expenditure in foreign currency
Server Rental 1,704,770 1,590,776
Travel - 378,748
Others - -
27 Remittance of foreign currency on account of
dividend
Number of Shareholders 1 1
Number of Shares held 6,516 6,516
Amount of dividend remitted NIL NIL
Year to which it relates NA NA
Note No.
28
Year Ended
31-03-2016
Year Ended 31-
03-2015
Year Ended
31-03-2016
Year Ended 31-
03-2015
Year Ended
31-03-2016
Year Ended 31-
03-2015
- - -
234,461 257,414 3,302 87,361
- -
1,951,623 1,500,000
2,555,165 2,533,254
13,526,288 21,216,449
13,760,749 21,473,863 1,951,623 1,500,000 2,558,467 2,620,615
29
Year Ended
31-03-2016
Year Ended 31-
03-2015
Year Ended
31-03-2016
Year Ended 31-
03-2015
Year Ended
31-03-2016
Year Ended 31-
03-2015
3,384,116 3,750,222 13,942,721 13,813,439 608,199 439,207
47,690,622 31,730,964 - - - -
51,074,738 35,481,186 13,942,721 13,813,439 608,199 439,207
30
31
32
33
34 Company has not capitalized any borrowing cost during the year.
As per our report attached For and on behalf of Board Of Directors
For N K Goel & Co
Chartered Accountants
(Firm Registration No. 001942N)
Pradeep Gupta
Director
DIN 00007520
Neeraj Kumar Goel
Proprietor
Membership No. 500-16570 Satrajit Majumdar
Director
Place : New Delhi DIN 00019588
Date : 25.05.2016
CIN : U93090DL1997PLC086975
Fellow Subsidiary
Fellow Subsidiary Cyber Media Research & Services Limited
Key Management Personnel Mr.Satrajit Majumdar
Managerial Remuneration
Company having Significant
influence Cyber Media (India) Limited
Notes on financial statements for the year ended 31st March, 2016
Carrying cost of asset Capital Expenditure
Related party TransactionsIn accordance with the requirements of Accounting Standard (AS-18) on Related Party Disclosures, the names of related parties where
control exists and/ or with whom transactions have taken place during the year and
description of relationships, as identified and certified by management are:
Nature of transactions Holding Company* Key Management Personal
The company has taken various offices under cancellable lease agreement.There are no non-cancellable leases.Lease payment
recognized under cancellable lease for the year are Rs.2574500/- (Previous Year Rs. 2369100/-)
The Company has no other information required to be disclosed pursuant to Schedule III to the Companies Act, 2013.
IndiaOther Countries-Sales in each
country less than 10% of Total
Sundry Debtors
Sundry Creditors
Total
Names of related partries and description of relationship:
The Company is engaged in the business of 'Market research and management Consultancy' which is identified as the only and primary
business segment of the Company. Further all the operating facilities located in India. The information required to be given for secondary
segment being business segment is as under:
TOTAL
In the opinion of the management,there is no permanent diminution in the value of investments
Previous year figures have been regrouped/ reclassified, wherever necessary, to confirm to current year's classification.
CYBER ASTRO LIMITED
Segment Reporting
Purchase & Other expenses
Sales & Other Income
Interest paid
Geographical Segment Sales
Financial Statements of Cyber Media India LLC for the
Financial Year ended 31.03.2016
PARTICULARS SCHEDULE AS AT AS AT
NO. 31.03.2016 31.03.2015
EQUITY & LIABILITIES
Share Capital 1 128,825,098 128,825,098
Reserves and Surplus 2 110,262,797 98,928,121
MINORITY INTEREST - -
LOAN FUNDS
Long Term Borrowings 3 62,512,587 77,512,793
Long Term Provisions 4 - -
Short Term Borrowings 5 23,511,652 43,491,398
Trade Payables 6 26,270,086 115,117,794
Other Current Liabilities 7 81,915,444 3,795,903
Short Term Provisions 8 6,823,913 5,697,480
440,121,578 473,368,587
ASSETS
FIXED ASSETS 9
Tangible Assets 2,022,761 2,412,930
Intangible Assets 182,150,328 194,249,987
184,173,089 196,662,917
INVESTMENTS 10 76,455,460 72,142,197
Deferred Tax Assets 11 4,992,852 4,711,179
Long Term Loans and Advances 12 16,628,009 -
Inventories 13 53,579,567 51,011,502
Sundry Debtors 14 88,902,814 91,637,443
Cash and Bank Balance 15 12,178,977 47,497,829
Shorft Term Loans and Advances 16 3,210,810 9,705,521
440,121,578 473,368,588
CYBER MEDIA INDIA LLC
CONSOLIDATED BALANCE SHEET AS AT 31.03.2016
(All figures in INR)
SCHEDULE Year Ending Year Ending
NO. 31.03.2016 31.03.2015INCOME
Sales 17 251,481,488 263,141,962
Other Income 18 217,293 19,686
251,698,780 263,161,648
EXPENDITURE
Direct Exp 19 97,762,508 104,851,272
Personnel Exp 20 96,672,265 90,848,748
Other Expenses 21 27,915,856 29,205,379
Financial Expenses 22 4,989,040 7,020,433
Depreciation & Amortizations 23 24,680,718 23,384,774
252,020,386 255,310,606
PROFIT BEFORE TAX (321,606) 7,851,042
Provison for taxation - -
NET PROFIT AFTER TAX (321,606) 7,851,042
Dividend - -
Extraordinary Item, net of tax - -
NET PROFIT AFTER TAX AND (321,606) 7,851,042
Balance Brought Forward 26,638,573 18,787,530
Balance Carried Forward 26,316,967 26,638,573
CYBER MEDIA INDIA LLC
(All figures in INR)
CONSOLIDATED PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31.03.2016
31.03.2016 31.03.2015
1 SHARE CAPITAL
Share Capital
Representing 100% ownership Interest 128,825,098 128,825,098
128,825,098 128,825,098
2 RESERVES AND SURPLUS
Foreign Currency Translation Reserve 71,810,369 72,289,549
Profit & Loss A/c
At Commencement of the year 38,774,033 18,787,530
Add : Profit for the Year (321,605) 7,851,042
38,452,429 26,638,572
Less : Negative Minority Share - -
Balance C/F 38,452,429 26,638,572
110,262,797 98,928,121
MINORITY INTEREST - -
- -
3 LONG TERM BORROWINGS
Secured Loans
Term Loan 19,396,137 77,512,793
19,396,137 77,512,793
Unsecured Loans
From Others 43,116,450 -
From Holding Company - -
43,116,450 -
62,512,587 77,512,793
4 LONG TERM PROVISIONS
Income Tax - -
Dividend Payable - -
Employee Benefits - -
- -
5 SHORT TERM BORROWINGS
Secured Loans
Term Loan * -
Cash Credit Facilities 23,511,652 43,491,398
23,511,652 43,491,398
Unsecured Loans
Loans & Advances from related Others : -
Loans & Advances from Others : - -
- -
23,511,652 43,491,398
* Amount payable within one year - -
6 TRADE PAYABLES
Sundry Creditors
Micro Small and Medium Enterprises - -
Others 26,270,086 115,117,794
26,270,086 115,117,794
7 OTHER CURRENT LIABILITIES
Acceptances 1,012,039 1,710,976
Duties & Taxes 3,583,573 1,596,065
Interest due but not paid 977,191 488,862
SCHEDULES TO THE BALANCE SHEET AS AT 31.03.2016
(All Figures in INR)
CYBER MEDIA INDIA LLC
31.03.2016 31.03.2015
SCHEDULES TO THE BALANCE SHEET AS AT 31.03.2016
(All Figures in INR)
CYBER MEDIA INDIA LLC
Advance payments for which value still to be given 76,342,641 -
81,915,444 3,795,903
8 SHORT TERM PROVISIONS
Others - -
Employee Benefits 6,823,913 5,697,480
6,823,913 5,697,480
9 FIXED ASSETS (See Note 1)
Tangible Assets
Gross 14,297,531 12,585,620
Depreciation 12,274,770 10,172,690
2,022,761 2,412,930
Intangible Assets
Gross 365,748,953 345,146,442
Depreciation 183,598,626 150,896,456
182,150,328 194,249,987
184,173,089 196,662,917
10 INVESTMENTS
Long-term investments (unquoted)
SX-2 Media LLC 76,455,460 72,142,197
CMP Cyber Media LLC - -
Publishing Services - -
TDA Group LLC - -
76,455,460 72,142,197
Aggregate amount of Unquoated Investments 76,455,460 72,142,197
11 Deferred Tax Assets 4,992,852 4,711,179
12 LONG TERM LOANS AND ADVANCES
Unsecured considered good - -
Loans and Advances to Related Parties 14,540,194 -
Advance Income Tax (Net of Provisions) -
Other Deposits 2,087,815 -
Advance income tax - -
16,628,009 -
13 INVENTORIES
Inventories - -
Work In Progress 53,579,567 51,011,502
53,579,567 51,011,502
14 SUNDRY DEBTORS
Unsecured
Debts- Outstanding for a period exceeding six months - -
Considered Good Other Debts 88,902,814 91,637,443
88,902,814 91,637,443
15 CASH AND BANK BALANCES
Cash in hand 32,871 31,295
Balances with Scheduled Banks in Indian Rupees
In Current Accounts 12,146,106 47,466,534
12,178,977 47,497,829
16 SHORT TERM LOANS AND ADVANCES
Unsecured considered good
Loan to Holding Company - 3,129,540
Prepaid Expenses -
Advances For Supply of goods and rendering of services
3,210,810 2,585,329
Other Deposits - 3,990,652
CYBER MEDIA INDIA LLC
SCHEDULES TO THE PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 31.03.2016
Year Ending Year Ending
31.03.2016 31.03.2015
17 Sales
Sales 251,481,488 263,141,962
251,481,488 263,141,962
18 Other Income
Dividend Income - 19,686
Interest Income 217,293
217,293 19,686
19 DIRECT EXPENSES
Press, News, Programme and Article Services
Opening Stock 53,579,567 -
Add : Expenses Incurred During the Year
Press, News, Programme and Article Services 97,762,508 104,851,272
151,342,075 104,851,272
Less : Closing Stock 53,579,567 -
97,762,508 104,851,272
Development Expenses - -
Events & Seminars - -
Hosting Server Charges - -
Packing and Despatch - -
Printing and Processing - -
Research & Survey - -
Discount on Sales & Services - -
97,762,508 104,851,272
-
20 PERSONNEL EXPENSES
Salaries, Bonus and Allowances 92,538,226 86,948,670
Contribution to Provident and Other Funds 4,074,073 3,803,143
Staff Welfare - -
Staff Recruitment & Training 59,966 96,935
96,672,265 90,848,748
21 OTHER EXPENSES
Electricity & Water - -
Rental 10,713,627 12,185,720
Repair and Maintenance - Building -
Repair and Maintenance - Plant & Machinery 949,714 785,775
Insurance 138,820 59,823
Rates and Taxes 186,149 308,214
Miscellaneous Expenses 2,510,310 3,922,447
Loss on exchange rate fluctuations - -
Remuneration to Statutory Auditors - -
Legal and Professional Charges 7,519,765 6,959,724
Correspondence and Communications 1,112,429 723,072
Travelling and Conveyance 1,520,640 1,886,708
Central & Apportioned Expense -
Advertisement and Publicity 3,121,110 2,240,078
Bank Charges 52,328 -
Newspaper, Books and Periodicals - -
Preliminary Expenses written off - -
Printing and Stationary 90,963 133,818
Vehicle Running and Maintenance - -
27,915,856 29,205,379
22 FINANCIAL EXPENSES
Interest
Term Loans 4,003,856 6,648,882
Other Interest - -
Cash Credit Facilities 985,184 -
Financial Charges - 371,551
4,989,040 7,020,433
23 DEPRECIATION & AMORTISATION
Depreciation 1,464,862 23,384,774
Amortisation 23,215,856 -
24,680,718 23,384,774
Provision For Taxation - -
Provision for Dividend - -
Extraordinary Item, net of tax - -
PBT (321,606) 7,851,042
NOTE 1 TO SCHEDULE 5-
FIXED ASSETS (In Rupees)
AS AT AS AT Translation AS AT UPTO FOR THE UPTO Translation UPTO AS AT AS AT Translation AS AT
DESCRIPTION 01.04.2015 ADDITIONS DEDUCTIONS 31.03.2016 Difference 31.03.2016 31.03.2015 YEAR ADJUSTMENTS 31.03.2016 Difference 31.03.2016 31.03.2016 31.03.2015 Difference 31.03.2016
Tangible Assets
Computer Equipment 6,640,080 362,694 - 7,002,773 396,218 7,398,992 6,354,769 464,346 - 6,819,116 389,424 7,208,539 190,452 285,310 - 190,452
Equipments 4,846,359 226,385 - 5,072,744 289,190 5,361,934 2,718,738 888,625 - 3,607,364 180,474 3,787,837 1,574,096 2,127,620 - 1,574,096
Furniture & Equipment 834,736 371,867 - 1,206,603 49,775 1,256,378 834,732 111,891 - 946,622 51,539 998,161 258,217 4 - 258,217
Leasehold Improvement 264,446 - - 264,446 15,781 280,227 264,450 - - 264,450 15,782 280,232 (5) (4) - (5)
12,585,620 960,946 - 13,546,567 750,964 14,297,531 10,172,690 1,464,862 - 11,637,552 637,218 12,274,770 2,022,761 2,412,930 - 2,022,761
Intangible Assets
Goodwill 183,712,199 - - 183,712,199 (37,965,053) 145,747,146 54,710,816 6,190,312 - 60,901,128 (10,030,668) 50,870,461 94,876,685 129,001,383 4,789,300 99,665,986
Software Package 317,287 - - 317,287 18,935 336,222 317,256 - - 317,256 18,933 336,189 33 31 - 33
Customer Intangibles - Other 207,294,948 - - 207,294,948 12,370,637 219,665,585 95,868,383 17,025,544 - 112,893,927 19,498,049 132,391,976 87,273,609 111,426,565 - 87,273,609
391,324,434 - - 391,324,434 (25,575,481) 365,748,953 150,896,456 23,215,856 - 174,112,311 9,486,314 183,598,626 182,150,328 240,427,979 4,789,300 186,939,628
TOTAL AS AT 31.03.2016 403,910,055 960,946 - 404,871,001 (24,824,517) 380,046,484 161,069,146 24,680,718 - 185,749,864 10,123,532 195,873,395 184,173,089 242,840,909 4,789,300 188,962,390
TOTAL AS AT 31.03.2015 306,464,277 447,863 - 306,912,140 27,974,691 294,870,898 99,641,069 22,243,340 - 121,884,408 16,216,751 154,566,402 185,027,732 206,800,675 2,169,740 187,197,471
NET BLOCK
CYBER MEDIA INDIA LLC
NOTE 1 TO SCHEDULE 5 FORMING PART OF BALANCE SHEET
GROSS BLOCK DEPRECIATION
Financial Statements of Kurrent Media LLC for the Financial
Year ended 31.03.2016
(All figures in INR)
AS AT
31.03.2016
EQUITY & LIABILITIES
SHAREHOLDERS' FUNDS
Share Capital 1 -
Reserves and Surplus 2 (7,905,629)
(7,905,629)
NON CURRENT LIABILITIES
Long Term Borrowings 3 54,261,882
Long Term Provisions 4 -
54,261,882
CURRENT LIABILITIES
Trade Payables 5 75,114,809
Other Current Liabilities 6 3,262,540
Short Term Provisions 7 -
78,377,349
124,733,602
ASSETS
NON CURRENT ASSETS
Fixed Assets 8
Tangible Assets 56,024
Intangible Assets 72,860,467
72,916,491
Investments 9 -
Deferred Tax Assets 10 35,963,400
Long Term Loans and Advances 11 7,656,815
116,536,706
CURRENT ASSETS
Inventories 12 -
Trade Receivables 13 8,080,256
Cash and Bank Balance 14 116,640
Short Loans and Advances 15 -
8,196,896
Profit & Loss Account -
MISCELLANEOUS EXPENDITURE
124,733,602
-
KURRENT MEDIA LLC
CONSOLIDATED BALANCE SHEET AS AT 31.03.2016
SCHEDULE
NO
SCHEDULE Year Ended NO. 31.03.2016
INCOME
Sales 16 1,954,585
Other Income 17 65,136
Total Revenue 2,019,721
EXPENDITURE
Direct Exp 18 -
Employee Benefits Expenses 19 76,023
Financial Expenses 20 4,857,549
Depreciation & Amortizations 21 4,008,588
Other Expenses 22 692,245
Total Expenses 9,634,406
PROFIT BEFORE TAX (7,614,685)
Provison for taxation -
Deferred Tax (935,600)
Minority Interest -
Dividend -
Extraordinary Item, net of tax -
(935,600)
NET PROFIT AFTER TAX AND EXTRAORDINARY ITEM (6,679,085)
Balance Brought ForwardBalance Carried Forward (6,679,085)
KURRENT MEDIA LLC
CONSOLIDATED PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31.03.2016
(All figures in INR)
As At
31.03.2016
1 SHARE CAPITALShare Capital
Representing 100% ownership Interest - -
2 RESERVES AND SURPLUS
Foreign Currency Translation Reserve (96,392)
Securities Premium Reserves
As per the last Balance Sheet -
Add: Acquired under the scheme of amalgamation -
-
Profit & Loss A/c
As per last Balance Sheet (1,130,152)
Less: Depriciation written back -
(1,130,152)
Add : Profit for the Year (6,679,085)
(7,809,237) (7,905,629)
3 LONG TERM BORROWINGS
SECURED LOANS
Term Loan from Bank -
Term Loan from Others -
-
UNSECURED LOANS
From Others 54,261,882
From Holding Company -
Security Deposit -
54,261,882 54,261,882
4 LONG TERM PROVISIONSProvision for employees’ benefits. -
-
5 TRADE PAYABLES
Sundry Creditors 75,114,809 75,114,809
6 OTHER CURRENT LIABILITIES
Advance payments for which value still to be given -
Other Payables
- Statutory Dues 3,262,540
- Creditors against capital expenditure -
- Bank Overdraft - 3,262,540
7 SHORT TERM PROVISIONS
Provision for employees’ benefits. -
Provision made for Doubtful Debts - -
8 FIXED ASSETS (See Note 1)
Tangible Assets
Gross 1,122,460
Depreciation 1,066,436
56,024
Intangible Assets
Gross 133,073,908
Depreciation 60,213,441
SCHEDULES TO THE BALANCE SHEET AS AT 31.03.2016KURRENT MEDIA LLC
As At
31.03.2016
SCHEDULES TO THE BALANCE SHEET AS AT 31.03.2016KURRENT MEDIA LLC
72,860,467 72,916,491
9 INVESTMENTS
Long-term investments
Cyber Media Services Limited -
Cyber Media India LLC -
-
10 Deferred Tax Assets (Net)
Deferred Tax Assets
- Disallowance under the Income Tax Act
Opening Balance 563,600
Add: During the year -
563,600
- Carry Forward Losses
Opening Balance 37,470,700
Add: During the year 804,200
38,274,900
TOTAL (A) 38,838,500
Deferred Tax Liabilities
- Fixed Assets
Opening Balance 3,006,500
Add: During the year (131,400)
TOTAL (B) 2,875,100
TOTAL (A-B) 35,963,400
11 LONG TERM LOANS AND ADVANCES
Advance income tax 7,656,815 7,656,815
12 INVENTORIES
Inventories -
Work In Progress - -
13 SUNDRY DEBTORS
Unsecured
Debts- Outstanding for a period exceeding six months Considered
Good 8,080,256
Other Debts Considered Good - 8,080,256
14 CASH AND BANK BALANCES
Cash in hand -
Balances with Scheduled Banks In Current Accounts 116,640 116,640
15 SHORT TERM LOANS AND ADVANCES
Unsecured considered good -
Loan to Subsidiaries -
Loan to Holding Co. -
Advances - For Supply of goods and rendering of services -
Other Deposits -
Advance income tax - -
SCHEDULES TO THE PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31.03.2016
Year Ended31.03.2016
16 Sales
Sales 1,954,585
1,954,585
17 Other Income
Interest Income -
Other non-operating income -
Miscellaneous Income 65,136
Net gain/loss on foreign currency translation and transaction -
65,136
18 DIRECT EXPENSES
Cost of Materials consumed
Opening Stock -
Add : Purchases - -
Less : Closing Stock - -
19 EMPLOYEE BENEFITS EXPENSES
Salaries, Bonus and Allowances -
Contribution to Provident and Other Funds 76,023
Staff Welfare -
Staff Recruitment & Training -
76,023
20 FINANCIAL EXPENSES
Interest
Term Loans 4,825,531
Other Interest
Cash Credit Facilities -
Financial Charges 32,019
4,857,549
21 DEPRECIATION & AMORTIZATIONSDepreciation & Amortizations 4,008,588
4,008,588
22 OTHER EXPENSES
Electricity & Water -
Repair and Maintenance - Building -
Repair and Maintenance - Plant & Machinery -
Insurance -
Rates and Taxes 45,859
Miscellaneous Expenses -
Loss on exchange rate fluctuations -
Remuneration to Statutory Auditors 45,800
Legal and Professional Charges 96,938
Correspondence and Communications -
Travelling and Conveyance -
Rental -
Central & Apportioned Expense -
Bank Charges 17,075
Difference in Exchange- dr 3,184
other miscellaneous expenses 483,389
Vehicle Running and Maintenance -
692,245
(7,614,685)
Minority Interest -
Provision For Taxation (2,693,200)
Provision for Dividend -
Extraordinary Item, net of tax -
PBT (4,921,485)
KURRENT MEDIA LLC
NOTE 1 TO SCHEDULE
8- FIXED ASSETS
AS AT AS AT UPTO UPTO AS AT AS AT
DESCRIPTION 01.04.2015 31.03.2016 31.03.2015 31.03.2016 31.03.2016 31.03.2015
Tangible Assets
Computer Equipment 1,088,024 - - 1,088,024 1,033,722 - - 1,033,722 54,302 54,302
Equipment 34,436 - - 34,436 32,714 - - 32,714 1,722 1,722
Furniture & Equipment - - - - - - - - - -
Total (A) 1,122,460 - - 1,122,460 1,066,436 - - 1,066,436 56,024 56,024
Intangible Assets
Software Package 171,763 - - 171,763 117,178 8,588 - 125,766 45,997 54,585
Commercial Rights 80,000,000 - - 80,000,000 56,087,675 4,000,000 - 60,087,675 19,912,325 23,912,325
Goodwill - 52,902,145 - 52,902,145 - - - - 52,902,145 -
Total (B) 80,171,763 52,902,145 - 133,073,908 56,204,853 4,008,588 - 60,213,441 72,860,467 23,966,910
Grand Total (A+B) 81,294,223 52,902,145 - 134,196,368 57,271,289 4,008,588 - 61,279,877 72,916,491 24,022,934
GROSS BLOCK DEPRECIATION NET BLOCK
NOTE 1 TO SCHEDULE 5 ANNEXED TO AND FORMING PART OF BALANCE SHEET
KURRENT MEDIA LLC
ADDITIONS DEDUCTIONS
FOR THE
YEAR
ADJUSTMENT
S