Notes to Accounts of Asian Films Production and Distribution Ltd.

Sep 30, 2013

1.1 The Company did not have any transactions with Small Scale Industrial (''SME''s'') Undertakings during the year ended September 30, 2013 and hence there are no amounts due to such undertakings. The identification of SME''s undertakings is based on the management''s knowledge of their status. The Company has not received any information from "suppliers" regarding their status under the Micro, Small and Mediurri Enterprises Development Act, 2006 and hence disclosures, if any, relating to amount unpaid as at the year end together with interest paid/payable as required under the said Act have not been furnished.

1.2 Balances in respect of certain sundry debtors, sundry creditors and loans and advances are taken as shown by the books of account and are subject to confirmation and consequent adjustments and reconciliation, if any.

1.3 As per Management opinion Current assets, loans and advances have a value on realization which in the ordinary course of the business would not be less than the amount at which they are stated in the balance sheet and the provisions for all known and determined liabilities are adequate and not in excess of the amount reasonably required.

1.4 Figures in brackets represent those of the previous year. Figures for the previous year have been regrouped amended wherever necessary.

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Sep 30, 2012

1. Background

Asian Films production and Distribution Limited (Formerly Known as K C Bokadia Films Limited) incorporated 6th of December 2012. The Company is in to the business of production/distribution of movies.

2. Basis of Preparation

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on an accrual basis and under the historical cost convention.

The accounting policies adopted in the preparation of financial statements are consistent with those of previous year, except for the change in accounting policy explained below. Except AS-6 being Depreciation Accounting as depreciation has not been provided on all the assets except Computer.

(a) In the view of the Management, No Provision is required to be made for Depreciation on fixed assets except Depreciation on Computer. The effect of which can not be quantified, to that extent Profit for the year and balance in Profit & loss account is over stated

(b) The Company has not made any Provision regarding Gratuity liability as prescribed by the accounting standard 15 (Revised) on employee benefits.

(c) Investments are long term and unquoted in nature and hence in the view of the management no provision for diminution in the value of investments is required to be made.

3.1 Related party transaction

As per accounting standard on Related Party Disclosure (AS-18) as notified by the ompanies Accounting Standard Rules, 2006 (as amended), the names of the related parties of the Company are as follows:

Names of related parties and related party relationship

Related parties where control exists irrespective of whether transactions have occurred or not:

Key Managerial Personnel

Anurag Prasad -Whole Time Director

C. Remuneration to key managerial personal

Anurag Prasad (Whole Time Director) 1,200,000 2,87,000

3.2 Contingent liabilities

The following are the details of contingent liabilities

a. Claims against the Company not acknowledged as debt are Rs. (Previous year - Rs.).

The Company has cases pending at the Central Investigation Unit (Customs) and Securities Exchange Board of India. The departments are yet to pass final order hence the liability for the same is currently unascertainable.

3.3 Balances in respect of certain sundry debtors, sundry creditors and loans and advances are taken as shown by the books of account and are subject to confirmation and consequent adjustments and reconciliation, if any.

3.4 As per Management opinion Current assets, loans and advances have a value on realization which in the ordinary course of the business would not be less than the amount at which they are stated in the balance sheet and the provisions for all known and determined liabilities are adequate and not in excess of the amount reasonably required.

3.5 Details of dues to micro and small enterprises as defined under the MSMED Act, 2006

There are no micro, small and medium enterprises, to which the Company owes dues, which are outstanding for more than 45 days as at March 31, 2012. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

3.6 Figures in brackets represent those of the previous year.

3.7 Figures for the previous year have been regrouped / amended wherever necessary.

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Sep 30, 2011

(a) In the view of the Management, No Provision is required to be made for Depreciation on fixed assets except Depreciation on Computer. The effect of which can not be quantified, to that extent Profit for the year and balance in Profit & loss account is over stated.

(b) The Company has not made any Provision regarding Gratuity liability as prescribed by the accounting standard 15 (Revised) on employee benefits.

(c) Investments are long term and unquoted in nature and hence in the view of the management no provision for diminution in the value of investments is required to be made.

(d) Segment Reporting: The Company Operates in single Segment. i.e. Media.

(e) Related Party Disclosure :

There is no transaction that has taken place during the year with related parties to be disclosed as required by Accounting Standard -18 " Related party Transaction" issued by the Institute of Chartered Accountants Of India and notified by the Companies Accounting standard Rules – 2006.

(f) The balances shown in the Balance sheet under the head of unsecured loans, Creditors, Debtors and Loans and Advances are each subject to confirmation from respective parties and are subject to adjustment if any, on receipt of confirmation.

(g) The Company has not received any intimation from Suppliers regarding their status under Micro and Medium Enterprises Development Act, 2006 and hence disclosure , if any, relating to amounts unpaid as at year end together with interest paid/payable as required under the said Act have not been given.

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Sep 30, 2010

(a) In the view of the Management, No Provision is required to be made for Depreciation on fixed assets except Depreciation on Computer. The effect of which can not be quantified, to that extent Profit for the year and balance in Profit & loss account is over stated.

(b) The Company has not made any Provision regarding Gratuity liability as prescribed by the accounting standard 15 (Revised) on employee benefits.

(c) Investments are long term ai. d unquoted in nature and hence in the view of the management no provision for diminution in the value of investments is required to be made.

(d) Segment Reporting: The Company Operates in single Segment, i.e. Media.

(e) Related Party Disclosure : There is no transaction that has taken place during the year with related parties to be disclosed as required by Accounting Standard -18 " Related party Transaction" issued by the Institute of Chartered Accountants Of India and notified by the Companies Accounting standard Rules - 2006.

(2) The balances shown in the Balance sheet under the head of unsecured loans, Creditors, Debtors and Loans and Advances are each subject to confirmation from respective parties and are subject to adjustment if any, on receipt of confirmation.

(3) The Company has not received any intimation from Suppliers regarding then- status under Micro and Medium Enterprises Development Act, 2006 and hence disclosure , if any, relating to amounts unpaid as at year end together with interest paid/payable as required under the said Act have not been given.

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Sep 30, 2009

(1) Provisions, Contingent Assets and Contingent Liabilities

A provision involving substantial degree of estimation are recognized when there is a present obligation as a result of past event and it is probable that there will be on outflow or resources.

(a) In the view of the Management, No Provision is required to be made for Depreciation on fixed assets except Depreciation on Computer. The effect of which can not be quantified, to that extent Profit for the year and balance in Profit & loss account is overstated.

(b) The Company has not made any Provision regarding Gratuity liability as prescribed by the accounting standard 15 (Revised) on employee benefits.

(c) Investments are long term and unquoted in nature and hence in the view of the management no provision for diminution in the value of investments is required to be made.

(d) Segment Reporting: The Company Operates in single Segment, i.e. Media.

(e) Related Party Disclosure : There is no transaction that has taken place during the year with related parties to be disclosed as required by Accounting Standard -18 " Related party Transaction" issued by the Institute of Chartered Accountants Of India and notified by the Companies Accounting standard Rules - 2006.

(2) The balances shown in the Balance sheet under the head of unsecured loans, Creditors, Debtors and Loans and Advances are each subject to confirmation from respective parties and are subject to adjustment if any, on receipt of confirmation.

(3) The Company has not received any intimation from Suppliers regarding their status under Micro and Medium Enterprises Development Act, 2006 and hence disclosure , if any, relating to amounts unpaid as at year end together with interest paid/payable as required under the said Act have not been given.