Format of Directors Report

By | August 15, 2015
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(Last Updated On: August 14, 2015)

Format of Directors Report . It is only to read. Make necessary amendment to use as format

                                 DIRECTORS REPORT

To,

The Members,

Your Directors have pleasure in presenting the ………th Annual Report of your company along with the Audited Financial Statements for the Financial Year ended on 31st March, 2015. Further, in compliance with the Companies Act, 2013 the company has made all requisite disclosures in the Board Report with the objective of accountability and transparency in its operations and to make you aware about its performance and future perspective.

  1. FINANCIAL SUMMARY /PERFORMANCE OF THE COMPANY

                                                                                                                        Amount in Rupees

 Current yearPrevious year
Total Turnover / Gross Receipts 
Profit for the year after meeting all expenses including preliminary expenses of Rs. Nil (Previous year Nil /-) but before providing for depreciation & Income Tax 
Depreciation for the Current year
Profit after dep. But before Income Tax 
Provision for tax    – Current
                             – Deferred
Income Tax Adjusted for earlier years
Profit  after tax 
Balance b/f from earlier year
Dividend and dividend tax  
Balance carried to Balance Sheet
  1. DIVIDEND

 Due to insufficient profits in the Business, the Directors of your Company regret their inability to recommend any dividend for the Financial Year 2014-2015 (Previous year- NIL).

  1. INFORMATION ON STATE OF THE COMPANY AFFAIRS

 No business has been done by the company during the year. The Directors are hopeful to start the business in the current year.

Change the clause as per the requirement.

 Under this heading, a brief description of the nature of business of the company specifying growth in terms of volume of the key products/services of the company which covers the bulk of the operating profit. It may also specify details of the operational highlights indicating the overall growth of the company and state any diversification if any made during the year. Company’s plan to venture in other segments may also be added.

  1. CHANGE IN THE NATURE OF BUSINESS

      There is no change in the nature of business of the company during the Financial Year 2014-15.

 MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT.

 There were no material changes during the year, affecting the financial position of the company.

  1. RESERVES

The amount of Profit of Rs __________was transferred to the General Reserve.

 DETAILS OF SUBSIDIARY/JOINT VENTURE/ASSOCIATE COMPANIES

 There are no subsidiary, associate or joint venture companies. 

  1. FIXED DEPOSIT

      The company has not accepted any Fixed Deposit during the year. 

  1. CHANGE IN SHARE CAPITAL DURING THE FINANCIAL YEAR 2014-15 

There is no change in share capital structure of the Company during the financial year 2014-15. Alternatively

During the Financial Year 2014-15, the share capital of the Company has been increased from ____ to ____, pursuant to allotment of____ equity shares of Rs ____ each under Private Placement/Preferential allotment/Rights issue /Employee Stock Option Scheme of the Company. 

  1. NUMBER OF MEETINGS OF THE BOARD 

There were six meetings of Board of Directors held during the financial year 2014-15.

       Change the clause as per the requirement.

  1. STATEMENT ON DECLARATIONBY INDEPENDENT DIRECTORS 

There are no independent directors in the company. 

  1. MANEGERIAL REMUNERATION 

No managerial remuneration was given to the Directors.

       Change the clause as per the requirement.

Disclosure about receipt of any commission by MD / WTD from a Company and/or receipt of commission / remuneration from it Holding or Subsidiary to be provided. 

  1. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186

 The company has not given any loans or guarantees and not made any investments covered under the provisions of section 186 of the Companies Act, 2013.

  1. DETAILS OF DIRECTORS OR KMP WHO WERE APPOINTED OR HAVE RESIGNED DURING THE YEAR.

There is no change in the Directors.

  1. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES REFFERRED TO IN SUB SECTION 1 OF SECTION 188 

There were no related party transactions during the financial year 2014-15. 

  1. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

There are no significant material orders passed by the regulators/courts which would impact the going concern status of the company and its future operations. 

  1. AUDITORS

 The Auditors M/S (Firm Name) Chartered Accountants, ………(Place ) whose period of office expires at the conclusion of ensuing Annual General Meeting areeligible for re-appointment.

They have confirmed their eligibility under section 141 of Companies Act 2013 and that are not disqualified for appointment and being eligible offer themselves for re-appointment.

Pursuant to the provisions of section 139 of the Companies Act, 2013 and the Rules framed there under, it is proposed to ratify the appointment of M/S (Firm Name), Chartered Accountants, as the statutory auditors of the Company for the Financial Year 2014-15.

  1. STATUTORY AUDITORS REPORT 

There are no qualifications in statutory audit report. The comments in the Auditors Report read with the notes to the accounts are self explanatory and do not call for further explanation.

  1. DIRECTORS’ RESPONSIBILITY STATEMENT 

The company has taken the utmost care in its operations, compliance, transparency, financial disclosures and the financial statements have been made to give a true and fair vies of the state of affair of the company. As required under section 134 (5) and 134(3)(c), and based upon the detailed representation, due diligence and inquiry there of your Board of Directors assures and confirm as under:

  1.  In the preparation of the annual accounts for the financial year ended on 31st March, 2015, the applicable accounting standards have been followed and there are no material departures from the same.
  2. The selected accounting policies were applied consistently and the directors made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at 31st March, 2015.
  3. Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities.
  4.  The annual accounts have been prepared on going concern basis.
  5.  The internal financial controls have been laid down by the company and such financial controls are adequate and operating effectively
  6. Proper systems had been devised in compliance with the provision of all the applicable laws and such systems were adequate and operating effectively.  
  1. ENERGY CONSERVATION, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE, EARNING AND OUTGO

The Clause Energy Conservation and Technology Absorption are not applicable to Company.  There was no earning and outgo in foreign exchange during the year.

  1. EXTRACT OF THE ANNUAL RETURN 

The extract of the annual return in Form No MGT – 9 in compliance with the requirement of Section 92(3), Section 134(3) of the Companies Act 2013 is annexed with the Board’s Report.

  1. ACKNOWLEDGEMENTS

Your Directors place on record their thanks to the share holders and also appreciate the valuable co-operation and continued support received from Company’s Bankers.

For and on Behalf of Board      

 (NAME OF DIRECTOR)

DIRECTOR

DIN-………

ADDRESS- ……………..

 Place:

Dated:  …….

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