Pankaj S. Zawar & Co.Shop No. 3, Plot No 184, Verma
Complex, Chalis Bhigq
Malkapur-443 I 01 .CHARTERED ACCOUNTANTS
Financial Statements Of
Lok Sewa Shikshan Bahhuddheshiva Mandal's.
Padmashri Dr. V.B.Kolte ColleFe of EnFineering,
Ma lka pu r
For the financial vear
2017-18
< Polytechnic>
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Pankaj S. Zawar & Co.CHARTEREDACCOUNTANTS
Place:-Malkapur
Date:- 28/0612018
ShopNo.3,PlotNo lM,Venna Comple>q ClulisBhiga
Mallopnaa310l
'We have audited the attached Ba.lance Sheet of LokSewa Shikshan Bahhuddheshiya Mandal's, PadmashriDr. V.B.Kolte College of Engineering, Malkapur as at 31st Mmch 2018 and also the Income & Expenditure Accountof the LokSewa Shikshan Bahhuddheshiya Mandal's, Padmashri Dr. V.B.Kolte College of Engineering, Malkapurfor the year ended on that date annexed there to. 'lhese Financial Statements are the responsibility of theManagements. Our responsibility is to express an opinion on these financial statements based on our audit.
'We conducted our audit in accordance with auditing standards generally accepted in India. Those Standardsrequired that we plan and perform the audit to obtain reasonable assurance about whether the financial statements erefree of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts arddisclosures in the financial statements. An audit also includes assessing the accounting principles used and significantestimates made by managements, as well as evaluating the overall financial statement presentation. We believe thatour audit provides a reasonable basis for our opinion.
L. 'We have obtained all the information and explanations which to the best of our knowledge & belief werenecessary for the purpose ofour audit;
2. 'The Balance Sheet and the Income & Expenditure Account dealt with by this report are in agreement withthe books of account.
3. 'In our opinion and to the best of our information and according to the explanations given to us, the said'Balance Sheet & the lncome & Expenditure Account together with the schedules attached read with'Accounting Policies and Notes thereon; give a true and fair view :
i. In the case of Balance Sheet, of the state of affairs of the College as at March 3lst, 2018, andii' In the case of Income & Expenditwe Account, of the Deflcit for the year ended on that date.
For PANI(AJ S. ZAWAR & CO..Chartered Accountants
Pankaj S. Zawar
Proprietor
M.No.109467
F'.R. No. 120891W
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4|,,4|-PARTICULARS AMOUNT
ITRUST FUND / CORPUS FUND
DEVETOPMENT FUND
BAL AS PER LAST BALANCE SHEET
ADD: TRANSFER DURING THE YEAR
DEPRECIATION FUND
BAL AS PER LAST BALANCE SHEET
ADD: TRANSFER DURING THE YEAR
46,96,296.27
6,39,377.50 53,35,663.77
2L,4t,69L.00
15,85,919.00
5,55,772.00
74,77,354.77
TOKSEVA SHIKSHAN BAHUDESHlYA MANDAL'SPADMSHRI DR. V B KOTTE COttEGE OF POLYTECHNIC
SCHEDULE "A" FUNDS FOR THE pERtOD OL.O4.2OL7 to 31.03.18
SCHEDULE "8" LOANS,ADVANCES & DEpostrs FoR THE pERloD o1.o4"2o17 to 31.03.18
SCHEDUTE ',D'' CASH AND BANK BAtANcEs FoR THE PERIOD o1-.o4.2o1.7 to 31.03.18
PARTICULARS DEBIT CREDITI orposrrs FRoM sTUDENTSI
IcREDtTORS FOR ASSETSI
IcRED|TORS FOR EXPENSES
ITDS PAYABLE
ISALARY & SryPEND PAYABLE
IBANK OF MAHARASHTRA
ISCHOLARSHIP PAYABLE
OTHER PROVISIONS
EXAM REMUNARATION PAYABLEADVANCE FEES RECEIVED
STUDENTS FEES RECEIVABLE
DEPOSITS TO OTHERS
TDS RECEIVED
BRANCH / DIVISION
ro,ooo.oo
r,ozs.oo
L,31,931.00
3,52,22,O53.O0
23,455.00
4,56,00,556.00
86,96,000.00
8,27,237.00
9t,o4,Lg7.OO
2,5!,793.O0
11,61,L90.00
6.0032,16,45s.50
28,84,030.99
t,5"7,29,292.00
TOTAT RS. 8,09,94,923.00 4,L9,7O,197.39
PARTICULARS BAL.AS ON 01.04.17 BAL.AS ON 31.03.18CASH ON HAND
BANK ACCOUNTS. CURRENT
FIXED DEPOSITS WITH BANK
29,145^O0
2,42,226.5611,909.00
4,34,296.3!
TOTAT RS. 2,7L,37L.56 4,46,204.3t
ffi*1a.""ri,-riit/i
SCHEDULE "E" MAINTENANCE ACCOUNT FOR THE PERIOD 01.04.17 TO 31.03.18
PARTICULARS AMOUNTS
TUTION FEES
OTHER FEES
INTREST RECEIVED FROM BANK
MISC INCOME
t,2s,21,ozs.008,36,2O3.07
3,715.00
3,98,156.02
TOTAT RS. 1.37.s9.099.09
SCHEDUTE ''F" DEVELOPMENT ACCOUNT FOR THE PERIOD 01.04.16 TO 31.03.18
PARTICUTARS AMOUNTS
DEVELOPMENT FEES
DONATIONS
CORPUS FUND
L2,78,755._O0
TOTAT RS. L2,78,755.O0
1,50,37,854.09
SCHEDUTE "G'' SATARIES FOR THE PERIOD OL.O4.L7 TO 31.03.18
PARTICULARS AMOUNTS
STAFF SALARY AND REMUNERATIONS
SECURITY EXP
OTHER STAFF EXP.
STAFF MEDICAL EXP
STAFF TRANING EXP.
1,60,73,760.00
TOTAL RS. L,6O,73,760.0O
SCHEDULE "H" COLLEGE DIRECT EXPENSES FOR THE PERIOD OL,O4.L7 TO 31.03.18
PARTICUTARS AMOUNTS
REMUNERATION / PROFESSIONAL CHARGES TO VISITINGFACULTIES
AFFILIATION FEE
EXAM FEE PAID TO UNIVERSIW
ENROLLMENT FEE
STUDENT INSURANCE
BUILDING & DEADSTOCK INSURANCESCHOLARSHIP PAID TO STUDENTS UNDER SOCIAL
WELFARE SCHEME OFFICE
MAINTENANCE - COLLEGE BUILDING
FURNITURE, EQUIPMENTS, COMPUTERS ETC
MAINTENANCE
MAINTENANCE - OTHERS
ADVERTISEMENT FOR RECRUITMENT OF STAFF FOR THE
coLLEGE (COST OF 3 ADVERTTSEMENTS EACH rN 2
NEWSPAPERS IN A YEAR)
ADVERTTSEMENT FOR ADMTSSTONS (COST OF 3
ADVERTISEMENTS EACH IN 2 NEWSPAPERS IN A YEAR)
ADVERTISEMENT - GENERAL
STUDENT SPORTS ACTIVITIES & GYMKHANA EXPENSES
OTHER STUDENT WELFARE
BANK INTEREST / CHARGESCONFERENCES SEMINAR - STUDENT
NBA / NACC EXPSCONSULTANCY FEES - OTHERS
INTERNET CHARGES
TELEPHONE, FAX CHARGES
PROSPECTUS PRINTING
EXAM PAPERS AND FORM PRINTING
OTHER STATIONARY
ELECTRICITY
MUNICIPAL & LOCAL TAXCLEANING
GARDENlNG
FRA/PNS Fee
EXPENSES RELATED TO STUDENTS
EXPENSES RELATED TO TRUST AND OTHERS
MAGAZIN E, JOU RNALS, PERIODICALS ETC SU BSCRI PTION
85,497.OO
1,60,000.00
8,36,383.00
2s,s20.00
45,566.00
3,55,506.00
2,560.00
\,20,274.00
1,40,2t5.00
L,93,L70.00
1,432.O0
s,go,ooo.oo
22,000.00
36,850,00
19,034.00
2,50,834.00
4,48,700.00
3,10,510.00
6,894.00
34,319.00
2,31,594.40
5,67,O23.94
57,855.00
L3,550.00
TOTAL RS. 45,55,227.34
SCHEDUTE ''I"
SCHEDULE ''J" NON RECURING RECEIPTS AND PAYMENTS
45,95,734.34
FOR THE pERtoD O7.O4.17 TO 31.03.18
COLLEGE ADMINISTRATIVE EXPENSES
CONVEYANCE, TRAVELLING, ETC. TO MEMBERSPOSTAGE CHARGES
30,000.00
507.00
PARTICUTARSDEPOSITS FIOMTruDENTS
TDS PAYABLE
SALARY & SryPEND PAYABLEBANK OF MAHARASHTRASCHOLARSHIP PAYABLEOTHER PROVISIONS
STUDENTS FEES RECEIVABLEBRANCH DIVISION
DEPOSITS WITH BANK
5,47,907.00L,54,59,095.00
4,31,ggg.oo
9,56,4L6.0032,16,455.50
72,54,276.00
2,40,17,965.00
5,47,976.00L,93,91.,012.00
,,rr,ora.oo4L,5A,4L3.50
L,36,92,922.0o
82,25,218.oo
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3)
LOKSEVA SHIKSHAN BAHL]UDESHIYA MANDAL'S,PADMASHREE DR.V B KOLTE COI,LEGE OF ENGINEERING AND POLYTECHNIC, MUKTAINAGAR ROAD. MALKAPUR
DIST. BULDANA443IOISCHEDULE ''K', : SIGNIFICANT ACCOLTNTING POLICIES AND NoTES oN ACCOLTNTS
FOR THE YEAR 20I7.2018
SIGNIFICANT ACCOLINTING POLICIES
METHOD OF ACCOLTNTING :
The accounts are prepared in accordance with accounting principles generally accepted in India.The College is maintaining its accounts on the basis of mercantile system of accounting generally.BASIS OP PREPARATION OF FINANCIAL STATEMENTS :The financial statements hdve been prepared under the historical cost convention and in accordance withgenerally accepted accounting principles.
Accounting policies not specifically referred to otherwise, are consistent and in accordance with generallyaccepted accounting principles.
REVENI.IE RECOGNITION :
Tuition Fees, misc. receipts, bank interest etc. are accounted for on accrual basis.4) FTXED ASSETS:
Fired assets are stated at cost ofacquisition and depreciation fund is created to the extent ofdepreciation onassets. None ofthe fixed assets have been revalued during the year under review.
5r DEPRECIA tlON :Depreciation on Fixed Assets is calculated on written down value method as per rates specified in theIncome Tar Act 196 1.
6) CURRE\r ASSETS, I,OANS & ADVANCES.In the opLnion ollhe management. the value ofall current assets. advances and deposits, cash and bankbalances and outstanding income, and other realizable assets are not less than their realizable value in theordinan course of business.
i) BORRO\\ NG COSTS :Borrori irs costs have been treated as expenses during the period in which they have been incurred.
B. \OTES ON ACCOT]NTS: -1) Baiances ofSundry Debtors, Sundry creditors, Loans and advances, Deposits have been accepted as
maintained by management without third party confirmations and are subject to reconciliations.2) Fixed assets have not been revalued during the year.3 ) Depreciation frrnd is not invested in Govt. Securities.1) Bank Statements are subject to reconciliation5) Att the lluilding Fund is accepted in cash.6) Some of Fixed Assets acquisition, as well as expenses incurred and corpus Fund received have been
done in cash and are supported by office made vouchers only.7) Provisions of Tax Deduction at Source (TDS) are not followed in case of Advertisement and some other
expenses' For pANKA.r S. ZAWAR & CO.
Chartered Accountants
PLACE:-MAI,KAPUR
-*,
frrrltr i,ural., ,.$)
Pankaj S. Zawar
Proprietor
M.No.109467
r.n uo 120891W
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