NUMERO UNO PROJECTS LIMITED
ANNUAL REPORT 2003-2004
NUMERO UNO PROJECTS LTD.
Your Directors have pleasure in presenting the Thirtieth Annual Report
together with the Audited Statement Accounts for the year ended 31st March,
The financial results of the company are as under:
Current Year Previous year
Profit / (Loss) Before Depreciation and tax (300.347) (2.310,060)
Less : Depreciation 1,353 1,353
Profit / (Loss) before taxes (301,700) (2,311,403)
Less: Provision for taxation NIL NIL
Profit / (Loss) After Taxation (301,700) (2,311,403)
Balance brought forward from earlier years (29,203,389) (26,891,966)
Balance carried forward to Balance Sheet (29,505,099) (29,203,389)
During the year under review, the Company has not been able to perform well
because of a general slump Market Conditions. Efforts would continue to
generate increase in the volume of business in the year 2003-04.
During the year under review, your company had token material handling and
labour contracts on behalf other construction companies. All the income for
the year has been generated through such contracts same is expected to
increase in the year 2003-04.
Some signs of recovery are being felt and the sane is predicted by the
trade organizations in the near future Based on the above perception your
Company is expected to do better in the year 2003-2004.
Your Directors do not recommend payment of any dividend to the shareholders
for the year under review account of lose and accumulated losses of earlier
Mr. Shrikant, Ghanti, in accordance with the provisions of the Companies
Act, 1956 and the Articles of Association, retires by rotation and is
eligible for reappointment.
CORPORATE GOVERNANCE :
The Corporate Governance Report along with the auditor's certificate
regarding compliance of the conditions of the corporate Governance as
stipulated in clause 49 of the Listing Agreement of the Stock Exchange is
PARTICULARS OF EMPLOYEES
Particulars of Employees, in accordance with the provision of section ?1?
(2A) of the Companies Act, 1956, read with Companies (Particulars of
Employees) Rules, 1988, are not given since no Employee was paid
remuneration exceeding Rs.12,00,000/- per annum or Rs.100,0001- per month
INFORMATION PURSUANT TO SECTION 21? (1) (e)
Information pursuant to section 217 (1) (e) of the Companies Act, 1956 read
with Companies (Disclosure of particulars in the report of the Hoard of
Directors) Rules, 1988,
(1) CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN -EXCHANGE
EARNINGS AND OUTGO.
Adequate measures have been taken to avoid wastage of energy Other parties
of these Rules are not applicable to the Company.
The company continues to maintain harmonious &; cordial relation with its
customers, Clients, workers, supervisors & Offices at all levels.
DIRECTORS RESPONSIBILITY STATEMENT U/S 217 (2AA)
The Directors would like to assure the Members that the financial
statements for the year under review, confirm in their entirety to the
requirements of the Companies Act, 1956.
The Directors confirm:
1) That in the preparation of the annual accounts, the applicable
accounting standards have been followed and that no material departures
have been made from the same
2) That the directors have selected the accounting policies and replied
upon them consistently and have the made judgments and estimates that are
reasonable and prudent so as to give a true and fair view of the state of
affairs of tire company at the end of the financial year and of the profit
and loss of the company for that period;
3) That the directors have taken proper and sufficient care for maintenance
of adequate accounting records in accordance with the provision of the
Companies Act, 1956 for the safeguard of the assets of the Company and for
preventing and detecting fraud and other irregularities and
4) That the Directors had prepared the annual accounts of going concern
PUBLIC FIXED DEPOSITS :
The Company has no public deposit of and will not accept any deposit
without prior approval of the statutory authorities concerned.
INFORMATION PURSUANT TO CLAUSE 32
The Cash flow statement pursuant to clause 32 of the listing agreement is
provided along with the notes to accounts.
M/s. Kaushik Joshi Associates, Chartered Accountants, retire at the ensuing
Annual General Meeting of the Company and eligible for re-appointment.
The observation of the Auditors in the report has been dealt with in the
dotes forming parts of the Accounts.
Your Directors recommend the re-appointment of M/s.Kaushik Joshi Associates
as Auditors of the s Company to hold office until the conclusion of the
Next Annual General Meeting of the Company,
The Directors wish to convey their gratitude to the company's clients,
bankers, shareholders and employees for their valued support extended to
FOR AND ON BEHALF OF THE BOARD
HARISH D. RUPAREL