Drafts

Format of Director Report for Small Company

Dear Members,

(Name of Company)

Your Directors have pleasure in presenting the (No. of AGM) Annual Report together with the Audited Statement of Accounts of your Company for the Year ended March 31, 2021.

  1. FINANCIAL SUMMARY:

The Company’s financial performance, for the year ended March 31, 2021:

                                                                                                                 (Amount in Rupees)

Particulars Year ended

March 31, 2020

Year ended

March 31, 2021

Revenue from Operations
Profit Before Tax
Less: Current Tax
Deferred Tax
Income Tax earlier years
Profit For The Year
Add: Balance in Profit and Loss Account
Closing Balance    
 
  1. STATE OF AFFAIRS / HIGHLIGHTS:
  • The Company is engaged in the business of ___________________________.
  • There has been no change in the business of the Company during the financial year ended March 31,
  1. CHANGE IN DIRECTORSHIP:

There has been no change in the constitution of Board during the year under review i.e. the structure of the Board remains the same.

OR

If there is any change, mentioned that Mr. …… has been resigned/ appointed w.e.f. ____________ as Director / MD/ etc of Company.

  1. BOARD’S COMMENT ON THE AUDITORS’ REPORT:

The observations of the Statutory Auditors, when read together with the relevant notes to the accounts and accounting policies are self explanatory and do not call for any further comment.

OR

(Explanation or comment by the Board on every qualification, reservation, adverse remark or disclaimer made by the statutory auditor in his report and/or by the secretarial auditor in the secretarial Audit Report)

  1. MEETINGS OF BOARD OF DIRECTORS:

(No. of Board Meeting) Board Meetings were held during the Financial Year ended March 31, 2021 i.e. (Dates of Board Meetings). The maximum gap between any two Board Meetings was less than one Hundred and Twenty days.

The names of members of the Board, their attendance at the Board Meetings are as under:

Name of Directors Number of Meetings attended/ Total Meetings held during the F.Y. 2020-21
Ms. (Name of Director)
Ms. (Name of Director)
Ms. (Name of Director)
  1. PARTICULARS OF LOANS AND INVESTMENT

The Company has not made any Investment, given guarantee and securities during the year under review. There for no need to comply provisions of section 186 of Companies Act, 2013.

OR

Details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013 are given in the notes to the Financial Statements. 

  1. WEB LINK OF ANNUAL RETURN, IF ANY:

The Company is having website i.e.___________________________ and annual return of Company has been published on such website. Link of the same is given below:

OR

The Company doesn’t having any website.  Therefore, no need to of publication of Annual Return.

  1. AUDITOR:

Statutory Auditors 

Auditors of the Company M/s__________________, Chartered Accountants, hold office until the conclusion of the ensuing Annual General Meeting and being eligible offer themselves for re-appointment until the conclusion of __th Annual General Meeting of the company to be held in the Year 2026.

As required under the provisions of section 139(1) of the Companies Act, 2013, the company has received a written consent from M/s__________________, Chartered Accountant to their appointment and a certificate, to the effect that their re-appointment, if made, would be in accordance with the new Act and the Rules framed there under and that they satisfy the criteria provided in Section 141 of the Companies Act, 2013.

  1. DIVIDEND:

The Board proposed to pay a dividend @___% on ______________ (Type of Shares) of Rs.___ each for every preference share having face value of Rs._____ each for the Financial Year 2020-2021 subject to approval of members at ensuing Annual General Meeting. The dividend, if approved in the ensuing Annual General Meeting, will be paid to Members whose names appear in the Register of Members as on date of ensuing Notice of Annual General Meeting.

  1. MATERIAL CHANGES AND COMMITMENTS:

There have been no material changes and commitments, which affect the financial position of the company which have occurred between the end of the financial year to which the financial statements relate and the date of this Report

OR

If there are material changes and commitments but their impact on the financial position is not determinable, a statement should be disclosed in the Report as under:

Following material changes and commitments have occurred between the end of the financial year to which the financial statements relate and the date of this Report and their impact on financial position of the company is not determinable.

  1. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, COURTS AND TRIBUNALS:

No significant and material order has been passed by the regulators, courts, tribunals impacting the going concern status and Company’s operations in future.

OR

The details of a significant material order passed by the Hon’ble High Court which may impact the going concern status of the Company and its future operations is provided in Annexure ___and forms part of this report

  1. DIRECTOR’S RESPONSIBILITY STATEMENT:

Pursuant to Section 134(5) of the Companies Act, 2013 the Board of Directors of the Company confirms that- 

  1. In the preparation of the annual accounts for the year ended March 31, 2021 the applicable accounting standards read with requirements set out under Schedule III to the Act, have been followed and there are no material departures from the same.
  2. 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 as at March 31, 2021 and of the profit of the Company for the year ended on that date.
  3. The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities.
  4. The Directors have prepared the annual accounts on a ‘going concern’ basis.
  5. The Company being unlisted, sub clause (e) of section 134(3) of the Companies Act, 2013 pertaining to laying down internal financial controls is not applicable to the Company.
  1. COMPLIANCE WITH SECRETARIAL STANDARD:

The Directors have devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standards and that such systems are adequate and operating effectively.

  1. DEPOSITS:

The Company has not accepted any deposits during the year under review.

Or

The company has not accepted any deposits during the year under review. However, loan from directors was during the year are as follows:

Name of Director Loan taken during the year Loan remaining at the end of the year
Ms. (Name of Director)
Ms. (Name of Director)
  1. PREVENTION OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE [“POSH”]:

The Company is committed to provide a safe and conducive work environment to its employees.

Your Directors further state that during the year under review, there were no cases filed pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. 

  1. CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES:

All related party transactions that were entered into during the financial year ended March 31, 2020 were on an arm’s length basis and were in the ordinary course of business. Therefore, the provisions of Section 188 of the Companies Act, 2013 were not attracted. Further, there are no materially significant related party transactions during the year under review made by the Company with Promoters, Directors, or other designated persons which may have a potential conflict with the interest of the Company at large. Thus, disclosure in Form AOC-2 is not required. However, the disclosure of transactions with related party for the year, as per Accounting Standard -18 Related Party Disclosures is given in Note no 24 to the Balance Sheet as on March 31, 2020.

ACKNOWLEDGMENT

Your Directors would like to express their sincere appreciation for the assistance and co-operation received from the banks, Government authorities, customers, vendors and members during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services by the Company’s executives, staff and workers.

Dated: For and on behalf of the Board of Directors
Place: (Name of the Company)

 

Name of the Director                                                                                          Name of the Director
(Designation)                                                                                                                            (Designation)
DIN:_________________ DIN: __________________
Add: _______________________________ Add: _______________________________

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