KRISHNA BHIMA SAMRUDDHI LOCAL AREA BANK LIMITED Rs BALANCE

Document Sample
KRISHNA BHIMA SAMRUDDHI LOCAL AREA BANK LIMITED Rs BALANCE Powered By Docstoc
					KRISHNA BHIMA SAMRUDDHI LOCAL AREA BANK LIMITED
                                                                                                              Rs.

  BALANCE SHEET AS ON                                      Sch 31-Mar-08                     31-Mar-07

  CAPITAL AND LIABILITIES
  Capital                                                    1           75,000,000                50,000,000
  Reserves and Surplus                                       2           18,510,661                 8,872,624
  Deposits                                                   3          434,200,985               273,805,675
  Borrowings                                                 4          271,040,077               148,947,771
  Other Liabilities and Provisions                           5           12,922,716                 5,957,624

  Total                                                                 811,674,439               487,583,694


  ASSETS
  Cash and Balances with Reserve Bank of India              6            20,760,478                13,689,972
  Balances with Banks and Money at Call and Short Notice    7            74,368,314                43,243,442
  Investments                                               8           158,556,549                98,907,648
  Advances                                                  9           521,006,586               302,083,223
  Fixed Assets                                              10           13,137,285                11,354,765
  Other Assets                                              11           23,845,228                18,304,644

  Total                                                                 811,674,439               487,583,694

  Contingent Liabilities                                    12                 234,250                        -
  Bills for Collection                                                              -                         -

  Principal Accounting Policies                              18
  Notes on Accounts                                          19
  The schedules referred to above form an integral part of the Balance Sheet

  In terms of our report of even date                                 for and on behalf of Board of Directors

                              for VARADACHARY & CO.,
                                   Chartered Accountants

  Place: Hyderabad                                                Managing Director                     Director
  Date:
                              (M.SRINIVAS)
                                     Partner
                               M.No.201655                              Director                        Director




                                                                      Audited Financial Statements as on March 31, 2008
   KRISHNA BHIMA SAMRUDDHI LOCAL AREA BANK LIMITED
                                                                                                                   Rs.
PROFIT AND LOSS ACCOUNT FOR
                                                              Sch 31-Mar-08                      31-Mar-07
THE YEAR ENDED
I. INCOME
 Interest Earned                                              13            86,665,932                  52,568,842
 Other Income                                                 14            26,538,903                  17,801,723

  Total                                                                   113,204,835                   70,370,565

II. EXPENDITURE
  Interest Expended                                           15            43,381,269                  21,547,697
  Operating Expenses                                          16            59,033,993                  42,502,873
  Provisions and Contingencies                                17             6,151,536                   3,295,327

  Total                                                                   108,566,798                   67,345,897

III. PROFIT / LOSS
  Net Profit/(Loss) for the Year                                             4,638,037                    3,024,668
  Add: Profit/(Loss) Brought Forward                                         6,457,425                    4,037,691
  Total                                                                     11,095,463                    7,062,359


IV. APPROPRIATIONS/TRANSFERS

 Statutory Reserve                                                             927,607                      604,934
 Investment Fluctuation Reserve                                                    -                            -
 Government / Proposed Dividend                                                    -                            -
 Balance Carried Over to Balance Sheet                                      10,167,855                    6,457,425
  Total                                                                     11,095,463                    7,062,360

Principal Accounting Policies                                  18
Notes on Accounts                                              19

In terms of our report of even date                                       for and on behalf of Board of Directors

                                 for VARADACHARY & CO.,
                                      Chartered Accountants

Place: Hyderabad                                                    Managing Director                        Director
Date:
                            (M.SRINIVAS)
                                 Partner
                            M.No.201655                                         Director                     Director




                                                                     Audited Financial Statements as on March 31, 2008
    KRISHNA BHIMA SAMRUDDHI LOCAL AREA BANK LIMITED
                                                                                                Rs.
SCHEDULES TO BALANCE SHEET
AS ON                                                     31-Mar-08            31-Mar-07
SCHEDULE 1:CAPITAL
Authorised Capital                                           100,000,000             100,000,000
    100,00,000 Equity Shares of Rs. 10/- each
Issued, Subscribed, and Paid-up capital                       75,000,000              50,000,000
    75,00,000 Equity Shares of Rs. 10/- each (Previous
    Year 50,00,000 Equity Shares of Rs.10/- each)
Total                                                         75,000,000              50,000,000

SCHEDULE 2:RESERVES AND SURPLUS
I.Statutory Reserves
 Opening Balance                                                1,743,198               1,138,264
 Additions during the Year                                        927,607                 604,934
 Deductions during the Year                                           -                       -
Total                                                           2,670,805               1,743,198
II.Capital Reserves
 Opening Balance                                                        -                       -
 Additions during the year                                              -                       -
 Deductions during the year                                             -                       -
Total                                                                   -                       -
III.Share Premium
 Opening Balance                                                      -                         -
 Additions during the year                                      5,000,000                       -
 Deductions during the year                                           -                         -
Total                                                           5,000,000                       -
IV.Investment Fluctuation Reserve
 Opening Balance                                                  220,000                 220,000
 Additions during the year                                            -                       -
 Deductions during the year                                           -                       -
Total                                                             220,000                 220,000
V. Revenue and Other Reserves
 Opening Balance                                                  452,000                 452,000
 Addition During the Year                                             -                       -
 Deductions during the year                                           -                       -
Total                                                             452,000                 452,000
VI. Balance in Profit and Loss Account                        10,167,856                6,457,426
Total (I to VI)                                               18,510,661                8,872,624
SCHEDULE 3:DEPOSITS
A I. Demand Deposits
      (i) From Banks                                                 -                       -
      (ii) From Others                                        16,014,906               5,397,740
   II. Savings Bank Deposits                                  91,521,251              93,506,222
   III. Term Deposits
       (i) From Banks                                                -                       -
       (ii) From Others                                      326,664,829             174,901,713
Total (I, II and III)                                        434,200,985             273,805,675
B. I. Deposits of branches in India                          434,200,985             273,805,675
   II. Deposits of branches out side India                           -                       -
Total                                                        434,200,985             273,805,675

In terms of our report of even date                        for and on behalf of Board of Directors

                            for VARADACHARY & CO.,
                                 Chartered Accountants

Place: Hyderabad                                         Managing Director               Director
Date:
                            (M.SRINIVAS)
                               Partner
                            M.No.201655                      Director                    Director



                                                                                Audited Financial Statements as on March 31, 2008
     KRISHNA BHIMA SAMRUDDHI LOCAL AREA BANK LIMITED

                                                                                                   Rs.
SCHEDULES TO BALANCE SHEET AS
ON                                                           31-Mar-08            31-Mar-07
SCHEDULE 4:BORROWINGS
I. Borrowings in India
    i Reserve Bank of India                                            -                       -
    ii Other Banks                                             213,690,477              99,553,571
    iii Other Institutions and Agencies                         57,349,600              49,394,200
II. Borrowings outside India                                           -                       -
Total                                                          271,040,077             148,947,771
(Secured borrowings included in I & II above)
SCHEDULE 5:OTHER LIABILITIES AND
PROVISIONS
I. Bills Payable                                                       -                        -
II. Inter-Office adjustments (net)                                     -                        -
III. Interest Accured                                                  -                        -
IV. Others (including provisions)                               12,922,716                5,957,624

Total                                                           12,922,716                5,957,624
SCHEDULE 6:CASH AND BALANCES WITH
RESERVE BANK OF INDIA
I. Cash in hand                                                 18,160,478              13,589,972
        (including foreign currency notes)
II.Balances with Reserve Bank of India
   (i) in current Account                                        2,600,000                 100,000
   (ii) in other Accounts                                              -                       -
Total - (I & II)                                                20,760,478              13,689,972

SCHEDULE 7:BALANCES WITH BANKS AND
MONEY AT CALL AND SHORT NOTICE
I. In India
  i. Balance with banks
     a. in current accounts                                     38,968,314              30,743,442
     b. in other deposit accounts                               35,400,000              12,500,000
  ii.Money at call and short notice
     a. with banks                                                     -                       -
     b. with other institutions                                        -                       -
Total                                                           74,368,314              43,243,442
II. Outside India
  i. In current accounts
  ii. In Other deposit accounts                                        -                       -
  iii. Money at call and short notice                                  -                       -
Total                                                                  -                       -
Total - (I & II)                                                74,368,314              43,243,442

In terms of our report of even date                         for and on behalf of Board of Directors

                              for VARADACHARY & CO.,
                                   Chartered Accountants

Place: Hyderabad                                           Managing Director               Director
Date:
                             (M.SRINIVAS)
                                 Partner
                              M.No.201655                      Director                    Director




                                                                                  Audited Financial Statements as on March 31, 2008
    KRISHNA BHIMA SAMRUDDHI LOCAL AREA BANK LIMITED

SCHEDULES TO BALANCE SHEET AS
ON                                                            31-Mar-08            31-Mar-07
SCHEDULE 8:INVESTMENTS
I. Investments in India in
  i. Government Securities                                      160,591,984             101,035,929
  ii. Other approved securities                                         -                       -
  iii.Shares                                                            -                       -
  iv.Debentures and Bonds                                               -                       -
  v.Subsidiaries and/or joint ventures                                  -                       -
  vi.Others                                                             -                       -
Total                                                           160,591,984             101,035,929
   Less: Depreciation                                             2,035,435               2,128,281
   Net Investments                                              158,556,549              98,907,648
II. Investments outside India in
 i.Government securities (including local authorities)
                                                                        -                       -
 ii.Subsidiaries and/or joint ventures abroad                           -                       -
 iii. Other investments                                                 -                       -
Total                                                                   -                       -
Total - (I & II)                                                158,556,549              98,907,648

SCHEDULE 9:ADVANCES
A i) Bills purchased and discounted                                     -                       -
   ii) Cash credits, overdrafts and loans repayable on              969,676                  32,605
   iii) Term Loans                                              520,036,910             302,050,618
Total                                                           521,006,586             302,083,223
B i) Secured by Tangible Assets                                 518,866,574             299,887,449
   ii) Covered by Bank/Government Guarantee                             -                       -
   iii) Unsecured                                                 2,140,012               2,195,774
  Total                                                         521,006,586             302,083,223
C I) Advances in India
   i) Priority Sectors                                          501,668,323             290,394,251
   ii) Public Sector                                                    -                       -
   iii) Banks                                                           -                       -
   iv) Others                                                    19,338,264              11,688,973
Total                                                            521,006,586             302,083,223
  II) Advances outside India
   i) Due from Banks                                                    -                       -
   ii) Due from Others                                                  -                       -
Total                                                                   -                       -
Total ( C. I & II )                                             521,006,586             302,083,223
SCHEDULE 10:FIXED ASSETS
I Premises                                                                 -                       -
II Other Fixed assets (including furniture and fixtures)
 At cost as on 31st March of the preceding year                  16,947,473              11,428,967
 Additions during the year                                        4,904,331               5,830,997
 Deductions during the year                                         729,100                 312,491
 Depreciation to date                                             7,985,419               5,592,708
Total                                                            13,137,285              11,354,765


In terms of our report of even date                          for and on behalf of Board of Directors

                             for VARADACHARY & CO.,
                                  Chartered Accountants

Place: Hyderabad                                           Managing Director                Director
Date:
                            (M.SRINIVAS)
                                Partner
                             M.No.201655                        Director                    Director



                                                                                   Audited Financial Statements as on March 31, 2008
    KRISHNA BHIMA SAMRUDDHI LOCAL AREA BANK LIMITED
                                                                                                   Rs.
SCHEDULES TO BALANCE SHEET AS
ON                                                            31-Mar-08            31-Mar-07
SCHEDULE 11:OTHER ASSETS                                                -
 I. Inter-0ffice adjustments (net)                                      -                       -
 II. Interest accrued                                            13,173,673               9,013,696
 III. Tax paid in advance / Tax deducted at source                5,481,222               2,182,039
 IV. Stationery and stamps                                          469,407                 683,810
 V. Non-banking assets acquired in satisfaction of claims               -                       -
 VI. Deferred Tax Asset ( Net)                                          -                       -
 VII. Others                                                      4,720,927               6,425,099
Total                                                            23,845,228              18,304,644

SCHEDULE 12:CONTINGENT LIABILITIES

I. Claims against the bank not acknowledged as debts
                                                                           -                       -
II. Liability for partly paid investments                                  -                       -
III. Capital Commitments                                                   -                       -
IV. Liability on account of outstanding forward exchange
contracts                                                                  -                       -
V. Guarantees given on behalf of constituents
    a. In India                                                      234,250                       -
    b. Outside India                                                     -                         -
VI. Acceptances, endorsements and other obligations
                                                                           -                       -
VII.Other items for which the bank is contingently liable
                                                                         -                         -
Total                                                                234,250                       -

In terms of our report of even date                          for and on behalf of Board of Directors

                            for VARADACHARY & CO.,
                                 Chartered Accountants

Place: Hyderabad                                            Managing Director               Director
Date:
                            (M.SRINIVAS)
                               Partner
                            M.No.201655                         Director                    Director




                                                                                   Audited Financial Statements as on March 31, 2008
KRISHNA BHIMA SAMRUDDHI LOCAL AREA BANK LIMITED

                                                                                                       Rs.
    PROFIT AND LOSS ACCOUNT FOR
                                                                31-Mar-08              31-Mar-07
    THE YEAR ENDED
    SCHEDULE 13: INTEREST EARNED
    I. Interest/discount on advances/bills                         75,802,371                  46,133,758
    II. Income on Investments                                      10,439,248                   6,200,257
    III.Interest on balances with Reserve Bank of India and
    other inter-bank funds                                           424,313                     234,827
    IV. Others                                                              -                         -
    Total                                                          86,665,932                  52,568,842

    SCHEDULE 14:OTHER INCOME
    I. Profit on sale of Asset / Investments                           55,700                         -
    II. Miscellaneous Income                                       26,483,203                  17,801,723
    Total                                                          26,538,903                  17,801,723

    SCHEDULE 15:INTEREST EXPENDED
    I. Interest on Deposits                                        20,219,504                   8,421,008
    II.Interest on Reserve Bank of India/Inter-bank
    borrowings                                                     22,002,306                  10,650,162
    II.Others                                                       1,159,460                   2,476,527
    Total                                                          43,381,269                  21,547,697

    SCHEDULE 16:OPERATING EXPENSES
    I.    Payments to and provision for employees                  32,575,276                  19,504,430
    II. Rent, taxes and lighting                                    2,705,218                   1,816,906
    III. Printing and Stationery                                    2,124,606                   1,332,917
    IV. Advertisement and publicity                                   512,518                     420,849
    V. Depreciation on bank's property                              2,838,212                   2,234,455
    VI. Directors' fees, allowances and expenses                      417,219                     314,635
    VII. Auditors' Fees and Expenses                                  250,875                     208,089
    VIII. Law Charges                                                  17,643                      26,867
    IX. Postage, Telegrams, Telephones. Etc.                        1,665,780                   1,428,415
    X. Repairs and maintenance                                      1,308,753                     921,060
    XI. Insurance                                                     949,696                     627,499
    XII. Other expenditure                                         13,668,196                  13,666,750
    Total                                                          59,033,993                  42,502,873

    SCHEDULE 17:PROVISIONS AND
    CONTINGENCIES
    I. Provision for Non Performing Assets                          2,434,325                     762,474
    II. Provision on Standard Assets                                  578,424                     247,780
    III. Provision for Taxation (Including Deferred and
    Fringe BenefitTax)                                              3,132,637                   2,130,723
    IV. Provision for Depreciation on Investments                       6,150                     154,350
    Total                                                           6,151,536                   3,295,327

    In terms of our report of even date                         for and on behalf of Board of Directors

                                for VARADACHARY & CO.,
                                      Chartered Accountants

    Place: Hyderabad                                          Managing Director                  Director
    Date:
                                 (M.SRINIVAS)
                                    Partner
                                 M.No.201655                      Director                       Director
                                                                    Audited Financial Statements as on March 31, 2008