Draft Directors’ Report For Financial Year 2021-22
XYZ PRIVATE LIMITED
Directors’ Report
To,
The Members,
The Directors present herewith the ______Annual Report together with the Audited Statement of Accounts for the year ended 31st March, 2022.
Financial Results
| Particulars | Current Year | Previous Year |
| Total Income
Profit (loss) before depreciation & tax Less: depreciation |
||
| Profit (loss) before tax
Less: Taxation Charge Deferred tax (credit) / charge |
||
| Profit (loss) after tax, carried to balance sheet |
CAPITAL & RESERVES
Your Company’s Authorized Share Capital is Rs. _______
Your Company’s Paid up Share Capital remained unchanged at _________.
The Reserves of the Company stood at ________ as on 31st March, 2022 as against ____________as on 31st March, 2021.
DIVIDEND
Your Directors have not declared any dividend for the year. (SPECIFY IF ANY)
REVIEW OF OPERATIONS
During the year under review the revenue of the Company has increased from Rs.____in the Financial Year 2020-21 to Rs._____ in the Financial Year 2021-22 thereby increasing the profits of the Company from ______ in the Financial Year 2020-21 to Rs. _______ in the Financial Year 2021-22. The Board is hopeful that the current year will show better results.
MAINTENANCE OF COST RECORDS
The Directors state that the overall turnover of the company does not exceed the limit prescribed for maintenance of Cost Records as specified by the Central Government under Section 148(1) of the Companies Act, 2013, accordingly such accounts and records are not made and maintained by the Company. (SPECIFY IF APPLICABLE)
MATERIAL CHANGES AFTER THE CLOSE OF THE FINANCIAL YEAR
There are no material changes affecting the financial position of the Company after 31st March, 2022. (SPECIFY IF ANY)
SUBSIDIARY COMPANIES
Your Company does not have any Subsidiary Company. (SPECIFY IF ANY)
PERFORMANCE AND FINANCIAL POSITION OF THE SUBSIDIARIES
This is not applicable to the Company.
DIRECTORS
There has been no change in directors during the year under review. (SPECIFY IF ANY CHANGE)
PARTICULARS OF LOAN GIVEN, GUARANTEES GIVEN OR INVESTMENTS MADE
The Company has not given any loans or guarantees or made investments in Shares/Securities requiring reporting during the Financial Year 2021-22. (SPECIFY IF ANY)
STATUTORY AUDITORS AND THEIR REPORT
The Audit Report on the Annual Statement of Accounts for the Financial Year 2021-22 is attached. There are no audit observations which require comment.
DETAILS OF ESTABLISHMENT OF VIGIL MECHANISM , IF ANY,
The threshold limit provided under Section 177(9) read with Rule 7 of the Companies (Meeting of Board and its Power) Rule, 2014 is not applicable on the Company. (SPECIFY IF ANY)
ISSUE OF EQUITY SHARES WITH DIFFERENTIAL RIGHTS, SWEAT EQUITY, ESOS ETC., IF ANY
The Company has not issued shares with differential voting rights nor granted stock options nor sweat equity during the period under review. (SPECIFY IF ANY)
ESTABLISHMENT OF CSR POLICY AND RELATED DISCLOSURE / COMPLIANCES
The Company does not cross the threshold limit provided under Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014 relating to Corporate Social Responsibility, hence CSR is not applicable to the Company. (SPECIFY IF APPLICABLE)
FRAUDS REPORTED BY AUDITORS UNDER SECTION 143(12), OTHER THAN THOSE WHICH ARE REPORTABLE TO THE CENTRAL GOVERNMENT.
The Statutory Auditors have not reported any incident of fraud to the Board of Directors of the Company. (SPECIFY IF ANY)
PUBLIC DEPOSITS
The Company has neither invited nor accepted any Deposits from the public in the year under review. (SPECIFY IF ANY)
NUMBER OF MEETINGS OF BOARD OF DIRECTORS
During the financial year under review, _____ (______) meetings of Board of Directors of the Company were held as under:
| S. No | Date of Board Meeting
|
Directors present in the Board Meeting |
| 1. | ||
| 2. | ||
| 3. | ||
| 4. |
The maximum interval between any two Board Meetings did not exceed 120 (One hundred and twenty) days. The details of attendance of each Director at Board Meetings are as follows:
| S. No. | Name of the Director | Board Meetings | |
| No. of Meetings held | No. of Meetings attended
|
||
| 1. | |||
| 2. | |||
| 3. | |||
DISCLOSURE OF RELATED PARTY TRANSACTIONS
The Company has disclosed the Related Party Transactions during the year 2021-22 in Note No: -______forming part of the Financial Statement and which are also self-explanatory to the Stakeholders.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO
Information pursuant to Section 134(3)(m) of the Companies Act, 2013, read with the Companies (Accounts) Rules, 2014 in respect of conservation of energy, technology absorption and foreign exchange earnings and outgo(SPECIFY IF ANY)
(A) Conservation of Energy
(i) The steps taken or impact on conservation of energy;
The operations of your Company are not energy intensive. However, adequate measures have been initiated to reduce energy consumption.
(ii) The steps taken by the company for utilising alternate sources of energy;
The operations of your Company are not energy intensive.
(iii) the capital investment on energy conservation equipments; -Nil
(B) Technology absorption-
(i) the efforts made towards technology absorption; – None
(ii) the benefits derived like product improvement, cost reduction, product development or import substitution; – Not Applicable
(iii) in case of imported technology (imported during the last three years reckoned from the beginning of the financial year)-
(a) the details of technology imported; – None
(b) the year of import; – Not Applicable
(c) whether the technology been fully absorbed; – Not Applicable
(d) if not fully absorbed, areas where absorption – Not applicable has not taken place, and the reasons thereof; and
(iv) the expenditure incurred on Research and Development. – Nil
(C) Foreign exchange Earnings and Outgo
During the period under review there was no foreign exchange earnings or out flow. (SPECIFY IF ANY)
PARTICULARS OF EMPLOYEES
There were no employees which require reporting. (SPECIFY IF ANY)
ORDER OF COURT
There has been no significant /material order passed by Regulators/Tribunals/Courts impacting the going concern status and future operations. (SPECIFY IF ANY)
COMPLAINCE OF SECRETARIAL STANDARDS
The Board confirms that it has complied with the Secretarial Standards issued by Institute of Company Secretaries of India to the extent applicable to the Company.
DIRECTORS’ RESPOSIBILITY STATEMENT
Your Directors hereby confirm that:
In the preparation of the annual accounts for the financial year 2021-22, the applicable accounting standards have been followed along with proper explanation relating to material departures; The Directors have selected such accounting policies and applied them consistently and 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 at the end of the financial year and of the profit and loss of the Company for that period;
The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of The Companies Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
The directors have prepared the annual accounts on a going concern basis; and
The Directors have laid down internal financial controls to be followed by the Company, and these financial controls are adequate and are operating effectively, and
The Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.
OTHER DETAILS
No Company have become or ceased to be its Subsidiary, Joint Venture or Associated Company during the year.
There has been no change in the business of the Company.
The financial summary of the performance is given under Financial Results of the Company.
The Company has adequate internal financial controls in safeguarding and ensuring proper preparation and presentation of the Annual statements.
There were no other major events during the year under review.
DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT 2013
Since the number of employees in the company doesnot exceed 10, the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 is not applicable to the Company.
(SPECIFY IF ANY
ACKNOWLEDGEMENT
The Directors place on record their appreciation of the continued support from the Bank, Business Associates and its Shareholders.
By Order of the Board of Directors
For XYZ PRIVATE LIMITED
PLACE: NEW DELHI
DATE: ______
(1ST DIRECTOR)
DIRECTOR
DIN: ___________
(2ND DIRECTOR)
DIRECTOR
DIN: ___________
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