LUDHIANA CHAPTER OF NIRC OF ICSI I. SOURCES AND

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LUDHIANA CHAPTER OF NIRC OF ICSIBALANCE SHEET AS AT 31st MARCH, 2020(Amount in Rs.)PARTICULARSNOTE NO.As at 31st March 2020As at 31st March 2019I. SOURCES AND LIABILITIES(1) Reserves & Surplus(a) Reserve & Surplus1(b) Earmarked Funds8,60,31528,70,077-SUB-TOTAL (1)-8,60,3158,70,077(2) Non- Current Liabilities(a) Long Term Borrowings--(b) Long Term Liabilities--------(c) Long Term ProvisionsSUB-TOTAL (2)(3) Current Liabilities(a) Short Term Borrowings(b) Sundry Creditors3--(c) Other Current Liabilities446,07911,800(d ) Short term Provisions1,7022,608SUB-TOTAL (3)547,78114,408TOTAL (1 2 3)9,08,0968,84,4852,65,93481,776II. ASSETS(1) Non-current Assets(a) Fixed Assets6(i) Tangible Assets(ii) Intangible Asssets--(iii) Capital Work in Progress--(iv) Intangible Assets under development--SUB-TOTAL (a)(b) Non-current Investments72,65,93481,7763,67,4102,75,449(c ) Long Term Loan and Advances-(d) Other Non-Current Assets-SUB-TOTAL (1)-6,33,3443,57,225(2) Current Assets(a) Current Investments8-4,04,252(b) Inventories9--(c ) Sundry Debtors106,7924,127(d) Cash and Cash Equivalents111,55,46068,881(e) Short terms Loans and Advances12(f) Other current Assets13--1,12,50050,000SUB-TOTAL (2)2,74,7525,27,260TOTAL (1) (2)9,08,0968,84,485ACCOUNTING POLICIES AND OTHER NOTES TO THE ACCOUNTS20-Notes referred to above form an integral part of the Balance Sheet.For LUDHIANA CHAPTER OF NIRC OF ICSIAs per our report of even date.For Kiranjeet & Associates(Kushal Kumar)(Hardeep Singh Nijher)(Pranav Khanna)Chartered AccountantsRegional Director/ ExecutiveOfficer /OfficeInchargeChairmanVice Chairman(Shivali Gupta)(Harshit Arora)SecretaryTreasurerFRN : 021642N(Kiranjeet Kaur)ProprietorMembership No. 098876Place : LudhianaDate : 22.06.2020

LUDHIANA CHAPTER OF NIRC OF ICSIINCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31st MARCH 2020(Amount in Rs. )PARTICULARSNote No.For the year endedAs at 31st March 2020As at 31st March 2019INCOMEIncome from 91,2826,24,7735,36,176Interest on InvestmentsOther IncomeTOTAL INCOMEEXPENDITUREEmployee Benefit Expense16Oral Eduction Expense----Travelling and Conveyance Expense1713,42015,445Programmes / Seminars Expense183,68,7513,13,215Career Awareness and Promotion ExpenseDepreciation & AmortizationOther Expenses19TOTAL EXPENDITURESurplus/(Short) before extraordinary & exceptional 2(2,28,227)38,354Add / Less : Extra Ordinary ItemsAdd / Less : Exceptional ItemsSurplus on Disposal of AssetsLoss on sale /Disposal /write-off of AssetsPrior period expenses (net)Surplus after extra ordinary & exceptional itemsAppropriation to Funds / Reserves :(i)(ii)(iii)-TOTAL APPROPRIATIONSBalance transferred to General ReserveTOTALACCOUNTING POLICIES AND OTHER NOTES TO THE ACCOUNTS-(2,28,227)38,354(2,28,227)38,35420Notes referred to above form an integral part of theIncome & Expenditure A/c.For LUDHIANA CHAPTER OF NIRC OF ICSIAs per our report of even date annexed.For Kiranjeet & AssociatesChartered AccountantsFRN : 021642N(Kiranjeet Kaur)ProprietorMembership No. 098876Place : LudhianaDate : 22.06.2020(Kushal Kumar)RegionalDirector /Executive Officer/Office Incharge(Hardeep Singh Nijher)Chairman(Pranav Khanna)Vice Chairman(Shivali Gupta)Secretary(Harshit Arora)Treasurer

LUDHIANA CHAPTER OF NIRC OF ICSIRESERVES & SURPLUSNote - 1(Amount in Rs. )PARTICULARSAs at 31st March 2020As at 31st March 2019(1) GENERAL RESERVEAs per last Balance Sheet6,91,6246,53,270SURPLUS/(SHORT) (As per Income & Expenditure A/c)(2,28,227)Sub-Total (1) :4,63,39738,3546,91,624(2) OTHER THAN GENERAL RESERVES, IF ANY(2A) BUILDING RESERVEAs per last Balance SheetAdd : InterestAdd : DonationsAdd : Transfer from ReservesAdd : Transfer from I&E AccountLess : Utilisation / transfer (mention specific purpose/nature)Sub-Total (2A) :--Sub-Total (2B) :--Sub-Total (2C) :--Sub-Total (2D) :--TOTAL (2) :--(2B) LIBRARY RESERVEAs per last Balance SheetAdd : InterestAdd : DonationsAdd : Transfer from ReservesLess : Utilisation / transfer (mention specific purpose/nature)(2C) INFRASTRUCTURE RESERVEAs per last Balance SheetAdd : InterestAdd : DonationsAdd : Transfer from ReservesAdd : Transfer from I&E AccountLess : Utilisation / transfer (mention specific purpose/nature)(2D) OTHER RESERVEAs per last Balance SheetAdd : InterestAdd : Transfer from ReservesAdd : Transfer from I&E AccountLess : Utilisation / transfer (mention specific purpose/nature)(3) CONTRIBUTION TO /FROM TOWARDS LAND & BLDG / OTHERASSETSAdd : Contribution (Liabilities)Balance of the P/ Year1,78,4531,34,453Current Year2,18,46544,000Less : Contribution (Assets)Balance of the P/ Year--Current Year--TOTAL (3) :3,96,9181,78,453Total : (1) (2) (3) :8,60,3158,70,077

LUDHIANA CHAPTER OF NIRC OF ICSINote - 2EARMARKED FUND(Amount in Rs. )INFRASTRUCTURE FUNDPARTICULARS2019-20ENDOWMENT FORPRIZE AWARD FUND2018-192019-202018-19--------TOTAL AMOUNT2019-202018-19As per last Balance SheetAdd: Contribution during the yearAdd: Transfer from Gen ReserveAdd: Receipts during the yearAdd: Interest allocationSub-Total :Less: Transfer to GR on utilisationLess: Utilised during the yearBalance as at the close of the year--

LUDHIANA CHAPTER OF NIRC OF ICSINOTE - 3SUNDRY CREDITORS(Amount in Rs.)PARTICULARSAs at 31st March 2020As at 31st March 2019Sundry Creditors- For Goods & Services--- Others- Inter Unit Balance (for details pl see below)-6,792Total : -6,792Inter Unit Balance(Amount in Rs.)PARTICULARSAs at 31st March 2020As at 31st March 2019Payable to HQ- Sales Proceeds of HQ Publications-- Advance from HQ-- Others, if any--Receivable from HQ- Reimbursement2,617- TDS (year-wise)4,1754,1276,7924,127Total :(6,792) -4,127NOTE - 4OTHER CURRENT LIABILITIES(Amount in Rs.)PARTICULARSAs at 31st March 2020As at 31st March 2019Other Current Liabilities(i) Fee received in advance from Members-(ii) Fee received in advance from Students-(iii) Security Deposits-(iv) Other Current Liabilities- Audit Fee Payable9,4509,440- GST Payable2,088-- TDS Payable7,228-- ROCHE Payable3,453- Sahil Khurana22,680- Professional ChargesTotal :1,1802,36046,07911,800NOTE - 5SHORT TERM PROVISIONS(Amount in Rs.)PARTICULARSAs at 31st March 2020As at 31st March 2019(i) Expenses Payablea) Telephone Expenses Payable5801,498b) Electricity Expenses Payable1,1221,1101,7022,608c)(ii) Provision for Expensesa)b)c)Total :

LUDHIANA CHAPTER OF NIRC OF ICSINOTE - 6FIXED ASSETS( Amount in Rs.)Gross BlockRate ofDepreciationItemsCostas onAdditionsDepreciation / ImpairmentAdjustment/Total costTotalFor theAdjustment/Totalas onas onTransfer/Saleas onas onYearTransfer/as 1.4.2019(i) Tangible AssetsFurniture & FixturesComputer PeripheralsCooling EquipmentElectrical EquipmentOffice Machines andCommunication EquipmentOther EquipmentLibrary BooksAssets Less Than 6,4661,38,02285,325--11,99919,654Net --54,115-Current Year Total 72,65,93481,776Previous Year Total 1,77662,193----(ii) Intangible AssetsERP Software1/3-Current Year Total (ii)-Previous Year Total (ii)-Current Year Total (i ii)Previous Year Total (i 35331,437-1,66,79081,77662,193FIXED ASSETS (Capital work in progress)Gross BlockAdditionsCostItemsAdjustment/Total costas onTransfer/as on1.4.2019Sale31.3.2020(iii) Capital Work in ProgressLand under acquisitionBuildings under constructionCurrent Year Total (iii)--------Current Year Total (iv)----Previous Year Total (iv)----Previous Year Total (iii)(iv) Intangible Assets under developmentComputer Software

NOTE - 7LUDHIANA CHAPTER OF NIRC OF ICSI(Amount in Rs.)NON CURRENT INVESTMENTSAS ----91,961---91,961-INVESTMENT IN DEBENTURES / BONDSSUB-TOTAL(II) :III31.03.2020INVESTMNET IN GOVT. SECURITIESSUB-TOTAL(I) :IIAS ONINVESTMNET IN MUTUAL FUNDSSUB-TOTAL(III) :IV OTHER NON-CURRENT INVESTMENTS(A) Fixed Deposits in Banks(i) Corporation Bank2,75,449-SUB-TOTAL (IV-A) :2,75,4493,67,410-3,67,410(B) Fixed Deposits with institutions other than BanksSUB-TOTAL (IV-B) :----SUB-TOTAL (IV-C) :----(C) OTHERS (Specify nature)TOTAL IV :2,75,44991,961-3,67,410TOTAL (I II III IV) :2,75,44991,961-3,67,410

NOTE - 8LUDHIANA CHAPTER OF NIRC OF ICSI(Amount in Rs.)CURRENT INVESTMENTSAS ----INVESTMENT IN DEBENTURES / BONDSSUB-TOTAL(II) :III31.03.2020INVESTMNET IN GOVT. SECURITIESSUB-TOTAL(I) :IIAS ONINVESTMNET IN MUTUAL FUNDSSUB-TOTAL(III) :IV OTHER - CURRENT INVESTMENTS(A) Fixed Deposits in Banks(i) Corporation Bank4,04,252-4,04,252-(ii)----(iii)----SUB-TOTAL (IV-A) :4,04,252-4,04,252-(B) Fixed Deposits with institutions other than BanksSUB-TOTAL (IV-B) :----SUB-TOTAL (IV-C) :----(C) OTHERS (Specify nature)TOTAL IV :4,04,252-4,04,252-TOTAL (I II III IV) :4,04,252-4,04,252-

LUDHIANA CHAPTER OF NIRC OF ICSINOTE - 9INVENTORIES(Amount in Rs.)As at 31st March 2020PARTICULARSAs at 31st March 2019Publications (RO / Chapters own)Consumables, Stores & Others (RO / Chap own)Total :--NOTE - 10SUNDRY DEBTORS(Amount in Rs.)As at 31st March 2020PARTICULARSAs at 31st March 2019Sundry Debtors outstanding for more than six monthsSecured, considered goodUnsecured, considered goodDoubtfulLess : Provision for Bad and Doubtful advanceSUB-TOTAL (a)Others Sundry DebtorsSecured , considered goodUnsecured , considered goodDoubtfulLess : Provision for Bad and Doubtful advanceInter Unit Balance-4,127SUB-TOTAL (b)Total :-4,127NOTE - 11CASH AND CASH EQUIVALENTS(Amount in Rs.)As at 31st March 2020PARTICULARSBalances with Bank (Including linked term deposits)1,44,520As at 31st March 201968,296Cheques / Drafts / Postal Orders / Stamps /Franking Units in handCash in handTotal :10,9405851,55,46068,881

LUDHIANA CHAPTER OF NIRC OF ICSINOTE - 12SHORT TERM LOANS AND ADVANCES(Amount in Rs.)As at 31st March 2020PARTICULARSAs at 31st March 2019SHORT TERM LOANS AND ADVANCESSecured, considered goodUnsecured, considered goodDoubtfulLess : Provision for Bad and Doubtful advanceTotal :--NOTE - 13OTHER CURRENT ASSETS(Amount in Rs.)As at 31st March 2020PARTICULARSAs at 31st March 2019OTHER CURRENT ASSETSAccrued Interst on Current InvestmentsAccrued Interst on Non-Current InvestmentsPrepaid Expenses12,500Security Deposit1,00,00050,000GSTTDS0-Recoverable from Parties / Vendors (with break up)Total :1,12,50050,000

LUDHIANA CHAPTER OF NIRC OF ICSINote -14(Amount in Rs.)INCOME FROM ACTIVITIESFor the year endedPARTICULARS31st March 202031st March 2019Income from StudentsOral Education Fee--Other Fees :Library Annual SubscriptionLibrary Fine--Sale of Publications (RC /Chap own)Programmes / SeminarsFrom Members1,07,1042,00,522-1,07,1042,00,522From Students- Students Training Programmes- OthersTotal :3,51,0002,01,5003,51,0002,01,5004,58,1044,02,022

LUDHIANA CHAPTER OF NIRC OF ICSINote -15(Amount in Rs.)OTHER INCOMEFor the year endedPARTICULARSAs at 31st March 2020As at 31st March 2019Subscription to NewsletterIncentive on InvestmentsInvestor Awarness ProgrammesProvision no longer required, written-backDonations - GeneralRentGrants received from Headquarters1,33,507Grants received from Regional OfficeUnpaid Security Deposits / EMD / Retention Money/Stale ChequesDiscount & RebateMiscellaneous IncomeTotal :-90,629-162,7006531,36,22391,282

LUDHIANA CHAPTER OF NIRC OF ICSINote -16EMPLOYEE BENEFIT EXPENSE(Amount in Rs.)For the year endedPARTICULARSAs at 31st March 2020As at 31st March 2019Salaries and Allowancesa)b)c)Staff Welfarea)b)c)TOTAL--Note -17TRAVELLING AND CONVEYANCE EXPENSE(Amount in Rs.)For the year endedPARTICULARSAs at 31st March 2020Travelling ExpensesConveyance ExpensesTOTALAs at 31st March 20191,7305,93711,6909,50813,42015,445Note -18PROGRAMMES / SEMINAR EXPENSES(Amount in Rs.)For the year endedPARTICULARSAs at 31st March 2020As at 31st March 2019Programmes / Seminars of Membersa) Seminar grammes / Seminars of Studentsa) Students Training Programmes1,23,525b) Other 8,7513,13,215

LUDHIANA CHAPTER OF NIRC OF ICSINote - 19(Amount in Rs.)OTHER EXPENSESFor the year endedAs at 31st March 2020As at 31st March counting Charges-Rent, Rates and TaxesElectricity and Water9502,76,41424,00025,54718,796Communication Expense- Telephone / Fax11,103- Courier / Postage989Insurance18,88012,092787-19,667-Repairs and Maintenance- Buildings--- Computer3,8003,076- Other Assets--- Vehicles-Office Expenses3,800-3,07626,54422,552Newspapers and Periodicals--Meeting expenses--Computerisation (Data Processing)--Professional Charges14,83016,520Packing and Despatch--Loss on Sale/ Disposal/Write-off of Assets--Loss/Write-off of Stocks-Bank Charges-1,807Student Scholarship and Awards132--Auditors Remuneration (including GST)- Statutory Audit Fees6,500- Statutory Auditor Other Services7,080-- Internal Audit Fees17,700Misc. Expenses24,20029,5089,44016,5204,131Freight944-TDS / Income Tax Recoverable written off--Bad Debts--Provision for Bad/Doubtful Debts--TOTAL4,36,5221,37,725

Ludhiana Chapter of NIRC of ICSICash Flow Statement for the year ended 31st March 2020( Amount)2019-20Cash Flow from Operating ActivityNet Surplus after Prior period, Extra ordinary and Exceptional items as per I & E Account2018-19(2,28,227)Add : Depreciation on Fixed Assets: Stock Written off: Bad Debts and Provision for Doubtful Debts: Loss on Sale of AssetsCash flow from operation after adjustment for non cash expensesLess: : Income from Investment: Provisions no longer required back and amount written off34,307: Surplus on Disposal of AssetsOperating Surplus before Working Capital and Funds ase /(Decrease) in Current Assets and Current Liabilities and Operating Earmarked Fund Balances(Increase)/Decrease in Inventory(Increase)/Decrease in Sundry Debtors(2,665)(Increase)/Decrease in Short Term Loans & Advances(Increase)/Decrease in Other Current Assets(62,500)(Increase)/Decrease in Long Term Loans & Advances(Increase)/Decrease in Other Non Current Assets(Increase)/Decrease in GR/Contribution / Utilisation to RC / Chapters2,18,465Increase/(Decrease) in Sundry CreditorsIncrease/(Decrease) in Other Current Liabilities34,279Increase/(Decrease) in Short Term Provisions(906)Increase/(Decrease) in Long Term Liabilities and ProvisionsNet cash generated from operating activity.1,86,673Cash flow from Investing ActivityIncome from InvestmentsSale Proceeds of Redumption of InvestmentsAcquisition of InvestmentsSale Proceeds of Fixed AssetsAcquisition of Fixed Assets including WIPNet Cash used in Investing ActivityCash flow from Financing ActivityCash Flow from Financing ActivityAddition in Corpus ,12,291(15,250)(2,18,465)(51,020)93,826-Cash Generated From Financing ActivitiesNet cash generated from Financing Activities.Net Cash Flow for the Year ended as on 31st March 2020 (A)Cash and cash equivalent at the beginning of the year(B)Cash and cash equivalent at the end of the yearNote:1 The above Cash Flow Statement has been derived using the Indirect method prescribed in AS-3.2 Enclosed Notes 1 to 20 form an intergral part of the Cash Flow Statement.3 Cash and cash equivalents include:a Cash, Cheques/Drafts/Postal Orders & Postage Stamps/ Franking units.b Balances with Scheduled Banks- In Savings Bank accounts (incl Term 6268,88110,9401,44,5201,55,460For LUDHIANA CHAPTER OF NIRC OF ICSIAs per our report of even date.For Kiranjeet & AssociatesChartered AccountantsFRN : 021642N(Kiranjeet Kaur)ProprietorMembership No. 098876Place : LudhianaDate : 22.06.2020(KushalKumar)RegionalDirector /ExecutiveOfficer /OfficeIncharge(Hardeep Singh Nijher)Chairman(Shivali Gupta)Secretary(Pranav Khanna)Vice Chairman(Harshit Arora)Treasurur

LUDHIANA CHAPTER OF NIRC OF ICSINOTE ANNEXED TO AND FORMING PART OF THE BALANCE SHEET AS ON31.03.2020 AND PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED ON THAT DATE.ACCOUNTING POLICIES & NOTES ON ACCOUNTS1. SIGNIFICANT ACCOUNTING POLICIES1. SIGNIFICANT ACCOUNTING POLICIES1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS(a) The financial statements have been prepared under the historical cost convention, in accordance with thegenerally accepted accounting principles.(b) Accounting policies not specifically referred to are consistent and in consonance with generally acceptedaccounting principles.(c) The company generally follows mercantile system of accounting and recognizes significant items of incomeand expenditure on accrual basis.2. PROVISIONS AND CONTINGENT LIABILITIESProvisions are recognized for present obligations of uncertain timing or amount arising as a result of a pastevent where a reliable estimate can be made and it is probable that an outflow of resourcesembodyingeconomic benefits will be required to settle the obligation. Where it is not probable that an outflow of resourcesembodying economic benefits will be required or the amount cannot be estimated reliably, the obligation isdisclosed as a contingent liability, unless the probability of outflow of resources embodying economicbenefits is remote. Possible obligations, whose existence will only be confirmed by the occurrence or nonoccurrence of one or more uncertain events are also disclosed as contingent liabilities unless the probabilityof outflow of resources embodying economic benefits is remote.3. REVENUE & EXPENDITURE RECOGNITION :a. Revenue from sale of publications is recognized at the time of preparing the sale bill, i.e. when the property ingoods as well as the significant risks and the rewards of the property get transferred to Buyer.b. Income on interest-bearing securities and fixed deposits is recognized on a time proportion basis taking intoaccount the amount outstanding and the rates applicable.c. Receipt of money specific sponsored Programmes is recognized on a systematic basis in the Income &Expenditure Account over the periods necessary to match them with the related costs which they are intendedto compensate. Unspent balance of such receipts, if any, are carried to next year.d.The Chapter has made books of accounts on receipt basis and out of total expenses Rs.175000/- recoverablefrom Head Office against rent, electricity expenses and telephone expenses. These will be accounted in thenext financial year as when received.4. FIXED ASSETS & SECURITY DEPOSITS :a. Fixed Assets excluding Land are stated at historical cost less depreciation.b. Depreciation is provided on the Written Down Value method at the following rates as approved by theCouncil, based on the useful life of the respective assets :ItemBuildingsFurniture and FixturesLifts/Air Conditioners/Other EquipmentsVehiclesComputers / Mobile Phones%510152040c. Depreciation on additions to Fixed assets is provided on pro-rata basis. No depreciation is charged in the yearof sale. Fixed Assets costing 5,000 or less are fully depreciated.d. Security deposit includes Rs.50000/- to GNIMT Trust and Rs.50000/- from Gurdwara Shaheedan S. DarshanSingh Pheruman Trust.

5. Allocation / Transfer to Reserves & Surplus and Earmarked FundsCorpus donation / donation for Building & Other Specific Fund received during the year is directly taken tosuch Reserve.6.OTHER NOTESa. Figures of previous year have been regrouped / recasted wherever necessary to make them comparable with thatof the current year.b. In opinion of the Council the value of realisation of loans, advances and current assets in the ordinarycourse of business will not be less than the amount at which they are stated in the balance sheet andprovision for all known liabilities has been made.c. Debit or Credit balances on whatever account are subject to confirmation from the respective parties.d. Contingent liabilities against the chapter not acknowledged as debts - NIL.e. Employees drawing more than Rs.25000/- p.m.Nil (P.Y. NIL)f. Expenditure in Foreign CurrencyNil (P.Y. Nil)g. Earning in Foreign ExchangeNil (P.Y. Nil)h. Prior Period Income/ExpenditureNil (P.Y. Nil)i. Capital CommitmentsNil (P.Y. Nil)j. Donation in KindNil (P.Y. Nil)k. Related Party TransactionsNil (P.Y. Nil)For LUDHIANA CHAPTER OF NIRC OF ICSI(HARDEEP SINGH NIJHER)CHAIRMAN(PRANAV KHANNA)VICE CHAIRMAN(SHIVALI GUPTA)SECRETARY(HARSHIT ARORA)TREASURER(KUSHAL KUMAR)OFFICE INCHARGEPLACE : LUDHIANADATE : 22.06.2020For KIRANJEET & ASSOCIATESCHARTERED ACCOUNTANTS(KIRANJEET KAUR)PROPRIETOR

LUDHIANA CHAPTER OF NIRC OF ICSI FIXED ASSETS ( Amount in Rs.) Gross Block Net Block Cost Adjustment/ Total cost Total For the Adjustment/ Total as on as on as on Transfer/Sale as on as on Year Transfer/ as on 31.3.2020 31.3.2019 1.4.2019 31.3.20201.4.2019 Sale (i) Tangible Assets Furniture & Fixtures 1

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