SURYA FUNCITY LIMITED
ANNUAL REPORT 2009-2010
Your Directors have pleasure in presenting their 17th Annual Report and the
audited statement of Accounts of the Company for the year ended 31st March,
2010, which we would take as read.
FINANCIAL RESULTS (Rs. In lacs)
FINANCIALS ACCOUNTING YEAR ACCOUNTING YEAR
ENDING 31.03.2010 ENDING 31.03.2009
1. Profit before
Depreciation & Tax 49.98 50.09
2. Depreciation 44.26 42.12
3. Provision for Taxation 0.64 0.88
4. Net Profit Loss 3.20 7.09
5. Paid a Equity Share Capital 537.00 537.00
TURNOVER & PROFITS
During the year, Company achieved Turnover of Rs.230.48 lacs as against
Rs.during the previous year. The profit & loss shows the Net Profit of
Rs.3.20 lac for the year as against Net profit of Rs. 7.09 lac for the
Due to inadequacy of profits, the Company is not in a position to declare
any dividend for the year ended on 31st March, 2010.
In accordance with the provisions of Article of Association of the Company
and of the Companies Act, 1956, Mr. Arvinder Singh, director will retire by
rotation at the ensuing Annual General Meeting and being eligible offers
himself for reappointment.
The Company has not accepted any deposits as per section 58A of the
Companies Act, 1956.
M/S Vasudeva & Associates, Chartered Accountants, the Statutory Auditors of
the company, will retire as Auditors at the ensuing Annual General Meeting
and being eligible, offer themselves for re-appointment.
DIRECTORS RESPONSIBILITY STATEMENT
In accordance with the provisions of section 217(2AA) of the companies Act,
1956, your director state that:
a) In preparation of the accounts, the applicable accounting standards have
b) Accounting policies selected were applied consistently. Reasonable and
prudent judgements and estimates were made so as to give a true and fair
view of the state of affairs of the Company as at the end of the March,
c) Due and diligent care has been taken for the maintenance of adequate
accounting records in accordance with the provisions of the Companies Act
1956, for safeguarding the assets of the company and preventing and
detecting fraud and other irregularities; and
d) The annual accounts of the company have been prepared on a going concern
During the year under review, the Audit Committee met five times. The
Committee gave some valuable suggestions for the improvement of internal
As required under clause 49 of the Listing Agreement, a report on Corporate
Governance is enclosed in this Annual Report. Auditor's certificate on the
compliance of Corporate Governance is also annexed with the report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS
The information required under section 217(1)(e) of the Companies Act, 1956
read with rule 2 of the Companies (Disclosure of Particulars in the Report
of Board of Directors) Rules, 1988, relating to conservation of energy,
technology absorption and foreign exchange earnings is as follows:
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION
The Company has installed D.G. set of appropriate capacity as stand by
source of power backup in case of failure of power from State Electricity
Board to avoid energy losses. All the rides are attached with automatic
power control system.
Foreign Exchange Earnings : Nil
Foreign Exchange utilized : Rs.
The company has not employed any employee at such remuneration attracting
the provisions of section 217(2A) of the Companies Act, 1956. Statement
showing particulars of such employees is, therefore, not annexed to this
INFORMATION PURSUANT TO LISTING AGREEMENT
The names and addresses of the Stock Exchanges where the Company shares are
1. The Executive Director
The Delhi Stock Exchange Ltd.
DSE House, 3/1, Asif Ali Road,
New Delhi-110 002.
2. The Executive Director
The Ludhiana Stock Exchange
Feroze Gandhi Market,
3. The Bombay Stock Exchange Limited
25th Floor, Phiroze Jeejeebhoy Towers
Dalal Street, Mumbai-400 001.
The notes, forming part of the Accounts, being self-explanatory, the
comments made by the Auditors in their Report, are not being dealt with
The Directors place on record their appreciation for the services rendered
by all the employees of the company and are greatful to Bank of India and
other Agencies for timely assistance. Your Directors are also grateful to
shareholders, customers and suppliers of the Company for their continued
For and on behalf of the Board
Kamaljeet Singh Sarabjeet Singh
(Managing Director) (Director)
MANAGEMENT DISCUSSION AND ANALYSIS
The main business of the Company is running of Amusement Park, Water Park,
Joy Rides, Fun Games and Resort.
a) Industry structure and Development:
The entertainment industry is moving at a very fast pace. The Company has
to sustain and compete with pace with the growing competition.
b) Opportunities and Threats:
Tapping into institutions and Corporate market of Punjab, Haryana and
Himachal Pradesh to increase the customer base. The potential threat could
be due to coming up of new amusement parks in and around Chandigarh.
The Company is headed into right direction, is market leader in its field&
enjoy excellent relations with customers.
d) Risk & concerns:
Accidents and mishaps can damage the reputation of the Company. But Company
is regularly monitoring all equipments and is adhering to all safety
e) Internal control system and adequacy:
The Company has adequate internal control systems relating to purchases,
components, equipments, machinery and other assets. The Company has
internal control system for speedy compilation of accounts and to comply
with all applicable laws and regulations.
f) Finance performance & Analysis:
The Company has shown a growth of 15% of the turnover as compared to last
financial year and similarly profits before depreciation shows net growth
g) Human Resource Development/Industrial Relations:
Relations between management and labour cordial throughout the year.