Notes to Accounts of Pine Animation Ltd.

Mar 31, 2015

Note 1: Earnings per Share:

Basic earnings per share is computed by dividing the profit/ (loss) after tax (including the post-tax effect of extraordinary items, if any) by the weighted average number of equity shares outstanding during the year.

Diluted earnings per share is computed by dividing the profit/ (loss) after tax (including the post-tax effect of extraordinary items, if any) as adjusted for dividend, interest and other charges to expense or income relating to the dilutive potential equity shares, by the weighted average number of equity shares considered for deriving basic earnings per share and the weighted average number of shares which could have been issued on the conversion of all dilutive potential equity shares.

Note 2: Provisions, Contingent Liabilities & Contingent Assets:

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past event and it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognized nor disclosed in the financial statements.

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

Note 4: Disclosures under accounting standards:

a. Segment Reporting (AS-17):

The Company operates in the business of Trading, Animation & Software developments. It operates only in Domestic Market, hence there is no business / geographical segments to be reported as required under Accounting Standard (AS- 17) "Segment Reporting" issued by the Institute of Chartered Accountants of India.

b. Related Party Disclosure (AS-18):

Related Party Disclosure under AS-18 issued by the Institute of Chartered Accounts of India. The Management has informed that all the transactions entered during the previous year with various parties do not fall within the purview of the Accounting standard 18 "Related Party Transaction" issued by the Institute of Chartered Accountants of India.The related parties of the company at March 31, 2015 are as follows:

a. Key management personnel & status :

- Santosh Kumar - Whole-time Director

- Mandar Subhash Palav - Independent Director

- Shyamsunder Parasramka - Additional Director

- Krishnakumar Murarka - Independent Director

- Bhavita Ashiyani - Women Director

The Management has informed that all the transactions entered during the previous year with various parties do not fall within the purview of the Accounting standard 18 "Related Party Transaction" issued by the Institute of Chartered Accountants of India.

c. Summary of significant related party transactions

The nature and volume of transaction of the company during the year with the above parties were as follows:

Note 5: The Company had given loans and advances from the surplus fund left over after using of working capital.

Note 6: The balances of Current assets, Current liabilities including Sundry Debtors, Sundry Creditors, Loans& advances, Secured & Unsecured Loan balances are subject to Confirmation

Note 7: Figures have been rounded off to the nearest rupee.

Note 8: Comparative Figures:

Previous year's figures have been regrouped and rearranged wherever necessary to make them comparable with the figures for the current year.

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Mar 31, 2014

Note 1: Provisions, Contingent Liabilities & Contingent Assets:

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past event and it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognized nor disclosed in the financial statements.

Note 2: The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures if any, relating to amounts unpaid as at the year end together with the interest paid/payable as required under the said Act have not been given.

Note 3: Disclosures under accounting standards:

a. Segment Reporting (AS-17):

The Company operates in the business of Trading, Animation & Software developments. It operates only in Domestic Market, hence there is no business / geographical segments to be reported as required under Accounting Standard (AS-17) "Segment Reporting” issued by the Institute of Chartered Accountants of India.

b. Related Party Disclosure (AS-18):

Related Party Disclosure under AS-18 issued by the Institute of Chartered Accounts of India. The Management has informed that all the transactions entered during the previous year with various parties do not fall within the purview of the Accounting standard 18 "Related Party Transaction" issued by the Institute of Chartered Accountants of India.The related parties of the company at March 31, 2014 are as follows:

a. Key management personnel & status :

* Santosh Kumar - Whole-time Director

* Mandar Subhash Palav - Additional director

* Lalji Ramraj Yadav - Additional Director

The Management has informed that all the transactions entered during the previous year with various parties do not fall within the purview of the Accounting standard 18 "Related Party Transaction" issued by the Institute of Chartered Accountants of India.

c. Summary of significant related party transactions

The nature and volume of transaction of the company during the year with the above parties were as follows:

Name of the related party Nature of Payment March 31, 2014

Mr.Santosh Kumar Managerial Remuneration Rs. 175000/_

Note 4: The Company had given loans and advances from the surplus fund left over after using of working capital.

Note 5: The balances of Current assets, Current liabilities including Sundry Debtors, Sundry Creditors, Loans& advances, Secured & Unsecured Loan balances are subject to Confirmation

Note 6: Figures have been rounded off to the nearest rupee.

Note 7: Comparative Figures:

Previous year’s figures have been regrouped and rearranged wherever necessary to make them comparable with the figures for the current year.

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Mar 31, 2013

Note 1: Information required under Para 3 (ii) (b) of Part II of Schedule VI to the Companies Act'' 1956 in respect of items traded during the year:

a. Since the Company is in the business of trading'' the provisions regarding licensed and installed capacity'' as well as production & raw - material consumption are not applicable.

b. Details of items traded during the year – 1) Securities & Commodities

Note 2: Provisions'' Contingent Liabilities & Contingent Assets:

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past event and it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognized nor disclosed in the financial statements.

Note 3: The Company has not received any intimation from suppliers regarding their status under the Micro'' Small and Medium Enterprises Development Act'' 2006 and hence disclosures if any'' relating to amounts unpaid as at the yearend together with the interest paid/payable as required Under the said Act have not been given.

Note 4: Disclosures under accounting standards:

a. Segment Reporting (AS-17):

The Company operates in the business of Trading'' Animation & Software developments. It operates only in Domestic Market'' hence there is no business / geographical segments to be reported as required under Accounting Standard (AS-17) "Segment Reporting" issued by the Institute of Chartered Accountants of India.

b. Related Party Disclosure (AS-18):

Related Party Disclosure under AS-18 issued by the Institute of Chartered Accounts of India. The Management has informed that all the transactions entered during the previous year with various parties do not fall within the purview of the Accounting standard 18 "Related Party Transaction" issued by the Institute of Chartered Accountants of India. The related parties of the company at March 31'' 2013 are as follows:

i. Key management personnel & status :

- Nagaraja Sharma Rajagopalan - Additional director

- Mandar Subhash Palav - Additional director

- Lalji Ramraj Yadav - Additional Director

- Nirmal Pragjibhai Jodhani - Director appointed in casual vacancy

- Priyesh Prakash Pethe - Additional director

- Deepak Prakash Rane - Director appointed in casual vacancy

The Management has informed that all the transactions entered during the previous year with various parties do not fall within the purview of the Accounting standard 18 "Related Party Transaction" issued by the Institute of Chartered Accountants of India.

Note 5:The Company had given Inter-Corporate deposit and loans and advances from the surplus fund left over after using of working capital.

Note 6: The balances of Current assets'' Current liabilities including Sundry Debtors'' Sundry Creditors'' Loans& advances'' Secured & Unsecured Loan balances are subject to Confirmation Note 29: Figures have been rounded off to the nearest rupee.

Note 7: Comparative Figures:

Previous year''s figures have been regrouped and rearranged wherever necessary to make them Comparable with the figures for the current year.

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Mar 31, 2012

1 Under the Micro Small and Medium Enterprises Development Act, 2006, certain disclosures are required to be made relating to Micro, Small and Medium Enterprises. The company is in the process of compiling relevant information from its suppliers about their coverage under the Act. Since the relevant information is not presently available, no disclosures have been made in the accounts.

2 The company has suspended manufacturing activities during the financial year 2003-2004 and there are no intentions to resume the manufacturing activities. In spite of these facts the accounts have been prepared on the basis of going concern.

3 Corresponding figures of the previous year have been regrouped or rearranged to make it comparable with this years''s figure, wherever necessary.

4 In view of the fact that the company has suspended manufacturing operations, particulars required to be furnished as per part-III of Schedule-VI of the Companies Act, 1956 has not been furnished.

5 The company is having net deferred tax assets. Deferred tax assets, which have arisen mainly on account of unabsorbed depreciation and carried forward losses, have been considered for recognition, as there is no virtual certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. Therefore, net deferred tax asset has not been recognized in the accounts of the company.

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Mar 31, 2011

A. The Company has not entered into any transactions during the year with any related party with in the meaning of the Accounting Standard (AS-18) Related Party Disclosures and hence reporting under the same do not arise.

b. Estimated amount of contracts remaining to be executed on capital account not provided for

Nil Nil

c. In compliance with Accounting Standard (AS- 22) relating to Accounting for Taxes on income issued by the Institute of Chartered Accountants of India, the deferred tax Asset during the year aggregating to Rs.7,703/- has been recognized.

d. Previous Year's figures have been regrouped wherever found necessary,

e. Figures have been rounded off to the nearest rupee.

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Mar 31, 2010

A. The Company has not entered into any transactions during the year with any related party within the meaning of the Accounting Standard(AS-18) Related Party Disclosures and hence reporting under the same do not arise.

b. Estimated amount of contracts remaining to be executed on capital account not provided for Nil Nil

c. In compliance with Accounting Standard (AS- 22) relating to Accounting for Taxes on Income issued by the Institute of Chartered Accountants of India, the deferred tax Liability accruing during the year aggregating to Rs. (29,189) has been recognized in the Profit & Loss Account.

d. Previous Year's figures have been regrouped wherever found necessary.

e. Figures have been rounded off to the nearest rupee.

As per our report of even date Signatories to the Balance Sheet Profit & Loss Account and Schedules.