KALINGA STUDIOS LIMITED : BHUBANESWAR

PROVISIONAL BALANCE SHEET AS ON 31ST MARCH, 2000

Schedule 31st MARCH, 1999 31ST MARCH,1998
SOURCES OF FUNDS
SHAREHOLDERS’ FUNDS
Share Capital 1 12,950,400.00 12,950,400.00
Advance Against Share Capital 11,173,526.20 11,173,526.20
Reserve & Surplus 2 1,484,500.00 1,484,500.00
Surcharge 460,685.50
LOAN FUNDS
Secured Loans 3 1,257,538.05 1,407,835.10
Unsecured Loans 3A 2,369,938.24
TOTAL 27,326,649.75 29,386,199.54
APPLICATION OF FUNDS
FIXED ASSETS 5
Gross Block 33,664,359.17 33,003,735.17
Less : Depreciation 25,502,646.22 23,395,688.12
Net Block 8,161,712.95 9,608,047.05
CURRENT ASSETS & LOANS & ADVANCES
Sundry Debtors 6 3,231,128.03 2,987,175.83
Cash & Bank Balances 7 481,620.36 159,963.41
Loans & Advances 8 490,470.70 813,020.30
TOTAL 4,203,219.09 3,960,159.54
LESS : CURRENT LIABILITIES & PROVISIONS
Current Liabilities 4 2,172,735.38 1,525,941.43
Provisions 4 106,470.00 95,939.00
TOTAL 2,279,205.38 2,338,279.11
NET CURRENT ASSETS 1,924,013.71 2,338,279.11
MISCEL. EXPENDITURE
(To the extent not written off or adjusted)
Profit & Loss Account 9 17,240,923.09 17,439,873.38
TOTAL 27,326,649.75 29,386,799.54
 KALINGA STUDIOS LIMITED : BHUBANESWAR
PROVISIONAL PROFIT & LOSS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2001
Schedule 31st MARCH, 1999 31ST MARCH,1998
EARNINGS
Charges 10 5,938,787.00 6,674,417.50
Other Income 11 212,222.35 372,013.85
TOTAL 6,151,009.35 7,046,431.35
EXPENDITURE

Payments to & Provision

For Employees 12 2,791,547.65 2,385,735.05

Other Expenses 13 1,851,028.66 1,704,471.65
Hire Charges of Equipment 610,359.70 1,414,756.00
Depreciation 5 2,106,958.10 2,274,663.29
TOTAL 7,359,894.11 7,779,625.99

LOSS FOR THE YEAR 1,208,884.86 733,194.64

ADD : PRIOR PERIOD EXPENSES - 42,780.15

LESS : PRIOR PERIOD INCOME 1,407,835.10 202,750.87

PROFIT / LOSS : BALANCE TRANSFERRED TO BALANCE SHEET 198,950.29 573,223.92

 KALINGA STUDIOS LIMITED : BHUBANESWAR
SCHEDULE FORMING PART OF THE BALANCE SHEET

SCHEDULE - 1 31st MARCH, 1999 31ST MARCH,1998

SHARE CAPITAL :
Authorised : 17,500,000.00 17,500,000.00
1,75,000 Equity shares of Rs.100/- each
(Previous year 1,75,000 Equity shares of Rs.100/- each)

Issued, Subscribed and Paid Up : 12,950,400.00 12,950,400.00

1,74,504 numbers of Equity shares of Rs.100/- each
(Previous year 1,29,504 Equity shares of Rs.100/- each)

(Of the above equity shares, 1,74,496 numbers of equity shares

(previous year 1,29,496 numbers of equity shares) are held by the
Orissa Film Development Corporation Limited, a Govt. of Orissa
undertaking – Holding Company)

ADVANCE AGAINST SHARE CAPITAL 11,634,211.70 11,173,526.20

(From Orissa Film Development Corpn. Ltd.
a Govt. of Orissa undertaking-Holding Company)
SCHEDULE - 2
RESERVE AND SURPLUS
CAPITAL RESERVES
State Investment Subsidy 1,484,500.00 1,484,500.00
SCHEDULE - 3
LOAN FUNDS :
SECURED LOANS : -
(From Orissa State Financial Corporation, as per last account ) 396,000.00
ADD : Interest accrued and due thereon - 1,011,835.10
TOTAL - 1,407,835.10
(Previous year : Pledged and hypothecated with the Corporation by way of Pari-passu, all plant fixed and unfixed machinery, fixtures,
implements, fittings and other installations, furnitures, vehicle, typewriters and all other articles and things fixed or lying on the said
 premises or any go-downs of borrowers or in the hands of any person as agent of the borrower in the course of transit, etc.)

KALINGA STUDIOS LIMITED : BHUBANESWAR

SCHEDULE FORMING PART OF THE BALANCE SHEET
SCHEDULE - 3A 31st MARCH, 1999 31ST MARCH,1998
UNSECURED LOANS
From Orissa Film Development 1,257,538.05 2,369,938.24
Corporation Ltd., Cuttack 1,257,538.05 2,369,938.24
SCHEDULE - 4
CURRENT LIABILITIES AND PROVISIONS
CURRENT LIABILITIES
Acceptance 2,500.00 2,500.00
* Sundry Creditors for goods, services, exp. 2,170,235.38 1,523,441.43
TOTAL 2,172,735.38 1,525,941.43
*Comprised of :
Sales Tax payable 240,029.95 240,029.95
Liabilities for expenses 850,887.65 617,233.85
Advance from Parties 657,730.25 488,756.00
Advance due to Suppliers 324,877.65 19,261.95
Amount payable to M/s. Sharada Ent. 78,514.53 78,514.53
Amount payable to Valso Industries 18,000.00 18,000.00
CD with State Bank of India, Bhubaneswar 195.35 61,645.15
TOTAL 2,170,235.38 1,523,441.43
PROVISIONS
Provision for Bonus 106,470.00 95,939.00
SCHEDULE - 6
SUNDRY DEBTORS
a) Debtors outstanding for a period 1,238,497.08 1,176,639.33
b) Exceeding six months 1,992,630.95 1,810,536.50
TOTAL 3,231,128.03 2,987,175.83
SCHEDULE - 7
CASH AND BANK BALANCES :
Cash in hand 13,205.80 8,234.95
Balance with Schedule Banks on :
 Current Account 360,728.01 151,728.46
L/c Margin accounts 107,686.55
TOTAL 481,620.36 159,963.41

KALINGA STUDIOS LIMITED : BHUBANESWAR

SCHEDULE FORMING PART OF THE BALANCE SHEET
31st MARCH, 1999 31ST MARCH,1998
SCHEDULE - 8
LOANS AND ADVANCES
Advance to staff 73,464.95 47,646.35
Advance to Others 29,044.00 122,537.10
Vehicle advance to staff 7,894.45 3,804.20
Receivables 217,812.35 174,487.00
Deposit with Govt. Deptt. & others 116,736.80 375,155.45
Prepaid Expenses 45,518.15 89,390.20
TOTAL 490,470.70 813,020.30

SCHEDULE - 9
PROFIT AND LOSS ACCOUNT
Loss up to previous year 17,439,873.38 16,866,649.46
Add : Loss for the year 198,950.29 573,223.92
TOTAL 17,240,923.09 17,439,873.38

SCHEDULE - 10
CHARGES
Editing charges 293,505.00 471,297.00
Equipment hire charges 3,500,265.00 3,548,668.50
Recording theatre charges 1,578,122.50 1,686,319.00
Campus charges 82,500.00 86,000.00
Shooting floor charges 256,069.50 395,578.00
Generator charges 5,225.00 16,055.00
Guest Room charges 108,100.00 190,900.00
Village Complex charges 60,250.00 86,000.00
Video charges 54,750.00 193,600.00
TOTAL 5,938,787.00 6,674,417.50
 KALINGA STUDIOS LIMITED : BHUBANESWAR
SCHEDULE FORMING PART OF THE BALANCE SHEET
31st MARCH, 1999 31ST MARCH,1998
SCHEDULE - 11
OTHER INCOME
Miscellaneous receipts 136,799.70 309,390.80
Shooting bulbs 23,875.00 49,047.50
Interest 15,197.65 13,575.55
Insurance Claim 36,350.00 -
Car Hire Charges - -
TOTAL 212,222.35 372,013.85

SCHEDULE - 12
PAYMENT TO AND PROVISIONS FOR EMPLOYEES
Salary and wages to staff 2,051,286.60 1,958,527.10
Contribution to Provident Fund 234,533.05 166,543.95
Bonus 107,270.00 96,389.00
Gratuity 398,458.00 164,275.00
TOTAL 2,791,547.65 2,385,735.05
SCHEDULE - 13
OTHER EXPENDITURES
Travelling and conveyance :
Directors 11,281.65 5,160.50
Others 24,401.55 46,578.85
Printing and Stationery 13,910.25 15,654.00
Fuel and Lubricant 29,837.65 33,228.75
Telephone charges 46,856.85 44,869.60
Internal Audit fees 7,963.00 7,800.00

AUDITOR'S REMUNERATION
 Audit fees 1,500.00 1,500.00
Audit expenses 4,520.00 6,129.75

ELECTRICITY CHARGES 716,583.00 713,167.45

REPAIR AND MAINTENANCE

Plant and Machinery 179,058.15 266,840.30
Buildings 125,604.10 14,240.50
Others 241,520.60 132,709.10
Electrical expenses 15,794.50 34,346.75
Insurance 1,851.30 84,458.00
Bank charges and commission 2,796.00 8,769.00
Misc. Expenses 130,226.10 116,726.70
Interest 61,791.45 172,292.40
TOTAL 1,615,496.15 830,382.75
Miscellaneous expenses shown by the company are comprises of :
Advertisement - -
Bad Debts - 2,136.00
Director’s sitting fees 1800.00 1,800.00
Donation 553.00 301.00
Filing fees 1440.00 11,040.00
Garden expenses 9076.00 3,966.00
Legal fees 0.00 2,150.00
Legal fees and expenses 4245.00 27,869.25
Meeting Expenses 5574.40 1,655.00
Office expenses 14899.70 15,781.20
Other Miscellaneous expenses 15558.00 -
Paper & Periodicals 420.00 438.75
Postage and Telegram 3665.00 5,943.00
Secretarial Service charges 1600.00 6,800.00
Sitting room expenses 4950.05 9,434.00
Staff Welfare 12493.80 2,778.00
Studio Maintenance 4094.00 8,189.50
Surveyors fees - 15,000.00
 Transportation charges 1909.00 1,445.00
TOTAL 82277.95 116,726.70

KALINGA STUDIOS LIMITED : BHUBANESWAR

NOTES ON ACCOUNTS AND CONTINGENT LIABILITIES

SCHEDULE - 14

Licensed Capacity Not applicable

Installed Capacity Not applicable

5. Since the Company is engaged in shooting, dubbing, recording

mixing, re-recording and editing etc. of the film according to
consumer requirement, the information required under 4C of
Part II of Schedule VI of the Companies Act, 1956 cannot be
furnished.

6. Information as required under 4D of Part-II of Schedule VI of

the Companies Act, 1956 wherever applicable are as follows : -

Value of imports on C.I.F. basis during the previous year

calculated by the Company including through canalising
agencies on invoice value
31st MARCH, 1999 31ST MARCH,1998
i. Raw materials Nil. Nil.
ii. Component and spare parts Nil. Nil.
iii. Capital goods Nil. 1,223,712.00
iv. Custom duty Nil. 859,592.98

9. Gratuity is taken on cash basis. Gratuity is accounted in the year it is paid.

10. Interest has been taken as per the books of accounts.

11. The Company has become a Government Company since 21st July, 1983
Consequent on the purchase of its shares from private parties by the
Orissa Film Development Corporation Limited. ( A Govt. of Orissa Undertaking)

6. Depreciation on fixed assets has been charged on written down value

method at applicable rates as prescribed in the Income Tax Rules, 1962
instead of Companies Act 1956.
KALINGA STUDIOS LIMITED : BHUBANESWAR
NOTES ON ACCOUNTS AND CONTINGENT LIABILITIES

7. A sum of Rs.3,421.00 shown as payable to Sri S.S.L. Sehegal, Contractor

provisional bill submitted by the said contractor is under dispute.

8. E.S.I. Demand has not been accounted for in the books of accounts and
payment towards E.P.F. attachment of Rs.17,840/- has been shown
under “Loans & Advances”.

9. Fixed assets have not been revalued during the year.

10. Depreciation has been provided on written down value at rates as prescribed
under the Income Tax Rules, 1962.

11. Expenditure in foreign currency : Nil

(Previous year : Repairs and
Maintenance Rs.1,27,306/-)

12. The balance of unsecured loans amounting to Rs.23,69,938.24 and Ways &
Means Advance from Orissa Film Development Corpn. Limited (Holding
Company) amounting to Rs.1,20,256.00 included in Receivables are
subject to confirmation and / or reconciliation.

13. The Company has adopted a Group Gratuity Scheme being introduced by
LIC of India. Hence the amount of Rs.3,98,458/- is shown under the head
 Gratuity towards second installment of Group Gratuity premium.

20. The Balance of Unsecured Loans amounting to Rs.21.50,609.45 and Ways

and Means Advance from O.F.D.C. Ltd. ( Holding Company ) amounting to
to Rs.7,65,498.65 included under Receivables are subject to confirmation
and reconciliation.

KALINGA STUDIOS LIMITED : BHUBANESWAR

NOTES ON ACCOUNTS AND CONTINGENT LIABILITIES

21. Loans dues shown under Secured Loans Last Year from O.S.F.C. Ltd.
amounting to Rs.14,07,835.10 has been waived as per decision by the
Government. The same has been shown as Prior Period Income.

22. In the absence of the final bills from Shruti Enterprisers and Visual Links
hired for outdoor shooting, the amount paid shown as advance against
supply amounting to Rs.83,912.35 and Rs.68,500.00 respectively are
shown under Receivables.

23. Figures for the previous year are regrouped and rearranged wherever
felt necessary.
 KALINGA STUDIOS LIMITED : BHUBANESWAR
SCHEDULE FORMING PART OF THE BALANCE SHEET
AND PROFIT & LOSS ACCOUNT
F I X E D A S S E T S

SCHEDULE - 5

PARTICULARS ORIGINAL ADDITIONS ADDITIONS TOTAL TOTAL RATE DEPN. DEPN. TOTAL W. D. V. W. D. V.
COST AS DURING DURING ADDITIONS COST OF UPTO DURING DEPRE- AS ON AS ON
ON 1.4.1998 1.4.1998 TO 1.10.98 TO DURING DEPN. LAST YEAR THE YEAR CIATION 31.03.1999 31.03.1998
30.09.1998 31.03.1999 THE YEAR %
1 2 3 4 5 6 7 8 9 10 11 12
Buildings 4136310.74 0.00 10890.00 10890.00 4147200.74 10 2350199.68 179155.60 2529355.28 1617845.46 1786111.06
Machinery and 15308318.94 8900.00 515835.00 524735.00 15833053.94 25 ### 804173.15 ### 2670436.84 2949874.99
equipment
Air Conditioners & 675022.90 0.00 0.00 0.00 675022.90 25 613386.87 15409.00 628795.87 46227.03 61636.03
Circulator
Electrical Installations 1117148.37 0.00 0.00 0.00 1117148.37 10 866867.75 25028.05 891895.80 225252.57 250280.62
& Sanitary Fittings
Furniture and fixture 666205.31 5550.00 1875.00 7425.00 673630.31 10 428425.78 24426.70 452852.48 220777.83 237779.53
Shooting Bulbs 818665.90 0.00 86850.00 86850.00 905515.90 100 818665.90 43425.00 862090.90 43425.00 0.00
Scooter 9255.63 0.00 0.00 0.00 9255.63 25 9116.64 34.75 9151.39 104.24 138.99
Office equipments 272958.48 0.00 3227.00 3227.00 276185.48 25 210478.22 16023.50 226501.72 49683.76 62480.26
Roads 235512.80 0.00 0.00 0.00 235512.80 10 136223.05 9929.00 146152.05 89360.75 99289.75
Bore Well 84007.00 0.00 12497.00 12497.00 96504.00 10 45581.90 4467.35 50049.25 46454.75 38425.10
Video Equipments 8400496.40 0.00 15000.00 15000.00 8415496.40 25 5228419.60 794895.20 6023314.80 2392181.60 3172076.80
Generator Van 1121641.70 0.00 0.00 0.00 1121641.70 20 314059.68 161516.40 475576.08 646065.62 807582.02
Car 158191.00 0.00 0.00 0.00 158191.00 20 15819.10 28474.40 44293.50 113897.50 142371.90
33003735.17 14450.00 646174.00 660624.00 33664359.17 ### 2106958.10 ### 8161712.95 9608047.05

### 375816.50 2392469.48 2768285.98 33003735.17 ### 2274663.29 ### 9608047.05 9114424.36
Nil
x