S P FINANCE AND TRADING LIMITED
ANNUAL REPORT 2004-2005
S P FINANCE AND TRADING LIMITED,
Your Directors' have pleasure in presenting their twenty-fourth Annual
Report and Audited Balance Sheet and Profit and Loss Account for the year
ended 31st March, 2005.
FINANCIAL HIGHLIGHTS: Current Year Previous Year
Rs. in lacs Rs. in lacs
Gross Receipts 96.87 117.77
Profit before Tax 91.71 101.48
Provision for tax 3.81 1.55
Profit after Tax 87.90 99.93
Transferred to Reserve 46.83 9.99
Total retained Profit 41.57 89.94
Your directors do not propose any Dividend on Equity Shares of the Company
for the year under review.
Smt Sangeeta P.Poddar retires by rotation and being eligible offer herself
for reappointment. The Board recommends her appointment at the ensuing
Annual General Meeting.
The Company has not accepted any Deposits from Public during the year under
PARTICULARS OF EMPLOYEES:
The information of Employees Pursuant to Section 217(2A) of the Companies
Act, 1956 is Nil.
CONSERVATION OF ENERGY:
The Company did not had any power consumption during the year, such
information regarding conservation of energy is not applicable.
TECHNOLOGY ABSORPTION - Nil
FOREIGN EXCHANGE EARNINGS AND OUTGO - Nil
DIRECTORS' RESPONSIBILITY STATEMENT:
The board of Directors hereby declares:
i. That in the preparation of the annual accounts, the applicable
accounting standards has been followed along with proper explanation
relation to material departures.
ii. That the directors has selected such accounting policies and applied
them consistently and made judgements and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of the
company at the end of the financial year and of the profit or loss of the
company for that period.
iii. That the Directors has taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities.
iv. That the directors has prepared the annual accounts on a going concern
A report from M/s.J.H.Fatehchandka & Company, Company Secretaries regarding
compliance u/s 383A(1) of the Companies Act, 1956 is appended.
The Auditors of the Company M/s.B.L.Sarda & Associates, Chartered
Accountants, Mumbai retires at the conclusion of the Current Annual General
Meeting and are being eligible for re-appointment.
The Directors record their appreciation of the Co-operation from the
Employees and Bankers during the year.
FOR AND ON BEHALF OF THE BOARD,
FOR S P FINANCE AND TRADING LIMITED
PLACE : Mumbai
DATED : 27th June, 2005