APR Constructions Limited - Saffron Capital

STATEMENT OF ADJUSTMENTS TO AUDITED ASSETS AND LIABILITIES
PARTICULARS As at As at 31 st March
(Rs. in lakhs)
30-11-2010 2010 2009 2008 2007 2006
Reserves and Surplus
---Profit and Loss Account - (29.58) (29.62) (48.99) (21.82) (42.85)
Provisions
---Taxation - 29.58 (11.80) (21.10) (10.20) (33.72)
--- Retirement benefits - - - (13.73) (7.65) (6.68)
Deferred Tax Liability - - - 4.67 2.57 2.25
Preliminary Expenses - - (17.82) (18.83) (6.55) (4.70)
NOTES ON RESTATED ACCOUNTS:
1. Current Tax and Fringe Benefit Taxes
The amount of income tax paid in a year against the short provisions made in the earlier years was taken
to the respective years in the restated financial statements.
2. Preliminary Expenses:
The amount of Preliminary Expenses shown in the books of accounts over a period has been taken in the
restated financial statements to the concerned year in which the expenses were actually incurred to give
the effect of full write off in the year itself.
3. Retirement Benefits:
The actuary valuation was first conducted in the Financial Year 2008-09 with base year as 2005-06 and
the short provision made in the earlier years was debited to the Profit and Loss account of 2008-09 in the
books of accounts. This amount has been taken to related years in the restated financial statements.
4. Deferred Tax Liability:
The resultant changes in the deferred tax liability due to the changes made in the retirement benefits as
mentioned at point 3 above have been given to respective years in the restated financial statements.
5. Non-recurring items :
The company derived profit / suffered loss on sale of used fixed assets and land. Following are the
details:
(Rs. in lakhs)
Financial Year Loss Profit
2005-06 - -
2006-07 - 632.26
2007-08 - -
2008-09 - -
2009-10 0.80 -
For the 8 months Period
ended
- -
Though such sale is non-recurring, they are not extraordinary in nature.
6. In these restated accounts, the figures from the audited accounts for the respective years, have been
regrouped / reclassified wherever required for proper comparison.
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