Our endeavour is to enhance Stakeholders' Value - Uflex Ltd.

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| 98 | UFLEX LIMITED DIRECTOR’S FLEX EUROPE REPORT PRIVATE LIMITED the signifi cant estimates and judgements made by the Director in the preparation of the fi nancial statements and of whether the accounting policies are appropriate to the company's circumstances consistently applied and adequately disclosed. We planned and performed our audit so as to obtain all the information and explanations we considered necessary in order to provide us with suffi cient evidence to give reasonable assurance that the fi nancial statements are free from material misstatements whether caused by fraud or other irregularity or error. In forming our opinion, we also evaluated the overall adequacy of the presentation of information in the fi nancial statements. Opinion In our opinion, the fi nancial statements give a true and fair view of the state of the company's aff airs as at 31st March 2009 and of its results for the year then ended and have been properly prepared in accordance with the Companies Act 1985 relating to small companies. PARKER LLOYD 30 POLAND STREET REGISTERED AUDITORS LONDON W1F 8QS 21st May 2009 PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2009 2009 2008 £ Rs in Lacs £ Rs in Lacs TURNOVER (Notes 1 & 2) 20,000 14.54 0 0.00 COST OF SALES 0 0.00 0 0.00 GROSS PROFIT 20,000 14.54 0 0.00 OTHER INCOME 663 0.48 1,118 0.81 20,663 15.02 1,118 0.81 ADMINISTRATION EXPENSES 41,126 29.89 5,564 4.04 OPERATING LOSS (Note 3) -20,463 (14.87) -4,446 (3.23) TAXATION (Note 4) 0 0.00 0 0.00 LOSS ON ORDINARY ACTIVITIES AFTER TAXATION -20,463 (14.87) -4,446 (3.23) Note: All fi gures have been converted by using rate of Rs. 72.68/ 1 GBP as on 31/03/2009. The Notes on pages 10 to 12 form an integral part of these Accounts. BALANCE SHEET AS AT 31ST MARCH 2009 2009 2008 £ (Rs in Lacs) £ (Rs in Lacs) FIXED ASSETS CURRENT ASSETS – – – – Debtors (Note 5) 44,275 32.18 24,399 17.73 Cash at Bank 21,001 15.26 36,616 26.61 CREDITORS: AMOUNTS FALLING 65,276 47.44 61,015 44.34 DUE WITHIN ONE YEAR (Note 6) 6,536 4.75 6,812 4.95 NET CURRENT ASSETS CREDITORS: AMOUNTS FALLING 58,740 42.69 54,203 39.39 DUE AFTER MORE THAN ONE YEAR – – – – TOTAL ASSETS LESS CURRENT LIABILITIES CAPITAL AND RESERVES 58,740 42.69 54,203 39.39 CALLED UP SHARE CAPITAL (Note 8) 100,000 72.68 75000 54.51 RESERVES (Note 9) (41,260) (29.99) (20797) (15.12) 58,740 42.69 54,203 39.39 These fi nancial statements have been prepared in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small companies. Approved by the Board on 21st May 2009. A C SRIVASTAVA Director The Notes on pages 10 to 12 form an integral part of these Accounts. TWENTIETH ANNUAL REPORT 2008 - 2009
DIRECTOR’S FLEX EUROPE REPORT PRIVATE LIMITED UFLEX LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2009 COMPLIANCE WITH ACCOUNTING STANDARDS The accounts have been prepared in accordance with the Financial Reporting Standards for Smaller Entities (eff ective January 2007). NOTE 1 ACCOUNTING POLICIES The principal accounting policies adopted in the preparation of the fi nancial statements are set out below and have been consistently applied within the same accounts. Basis of Preparation The fi nancial statements have been prepared under the historical cost convention. Stock Stock is valued at the lower of cost and net realisable value. Turnover Turnover derived from ordinary activities represents net invoiced sales of goods, excluding Value Added Tax. Deferred Taxation Provision is made at current rates for taxation deferred in respect of all material timing diff erences except to the extent that, in the opinion of the Directors, there is a reasonable probability that the liability will not arise in the foreseeable future. NOTE 2 TURNOVER The turnover and loss before taxation are attributable to the one principal activity of the company. NOTE 3 OPERATING LOSS The operating loss is stated after charging:- 2009 2008 £ Rs in Lacs £ Rs in Lacs Directors’ remuneration The directors received no remuneration from the company in either year. 0 0 0 0 NOTE 4 TAXATION No liability to Corporation Tax arose on ordinary activities shown in the accounts due to the availability of taxable losses. NOTE 5 DEBTORS 2009 2008 £ Rs in Lacs £ Rs in Lacs Prepayments and Other Debtors 44,275 32.18 24,399 17.73 NOTE 6 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2009 2008 £ Rs in Lacs £ Rs in Lacs Accruals and Other Creditors 6,536 4.75 6,812 4.95 TWENTIETH ANNUAL REPORT 2008 - 2009 | 99 | S U B S I D I A R I E S
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Stone Laying Ceremony - Egypt Plant
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Our vision is to create total fl ex
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The Company has reaffirmed its conv
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CORPORATE INFORMATION UFLEX LIMITED
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Key People Shri Pradeep Tyle Sr. Pr
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DIRECTOR’S REPORT | 2 | UFLEX LIM
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DIRECTOR’S REPORT 3. Future plan
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UFLEX LIMITED MANAGEMENT DISCUSSION
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UFLEX LIMITED MANAGEMENT DISCUSSION
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Our endeavour is to enhance Stakeholders' Value - Uflex Ltd.

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