The Bengal Club Annual Report Inside 2019 exp · Ambarish Dasgupta Anjan Chatterjee* Avijit Mukerji+ Jayanti Prasad Khaitan Kunal Sen Nandini Ray++ Partha Ranjan Das Sandip Chatterjee

The Bengal Club Limited | Report & Accounts 2019

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Contents

Notice -- 03

Committee Report -- 06

Auditors’ Report -- 15

Balance Sheet -- 24

Income & Expenditure Account -- 25

Cash Flow Statement -- 26

Notes to the Financial Statement -- 27

Members are requested to send any question they may have regarding this Annual Report to the Chief Executive Offi cer by 08 July 2019


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The Committee of The Bengal Club Limited

Tapas RaychaudhuryPresident

Sumit MazumderVice President

Afroze Randerian+++

Ambarish Dasgupta

Anjan Chatterjee*

Avijit Mukerji+

Jayanti Prasad Khaitan

Kunal Sen

Nandini Ray++

Partha Ranjan Das

Sandip Chatterjee

Shib Sanker Mukherji**

Soumendra Nath Mookherjee

Sumit Ray

Sutanu Ghosh***

* Till August 2018

** Till January 2019

*** Till December 2018

+ Since August 2018

++ Since January 2019

+++ Since May 2019


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Notice

Notice is hereby given that the Annual General Meeting of the Members of The Bengal Club Limited will be held at the Registered Offi ce at 33B Chowringhee Road, Kolkata 700 071 on Friday 19 July 2019 at 5.30 pm to transact the following business:

As Ordinary Business:

1. To consider and adopt the Audited Accounts for the year ended 31 March 2019 and the Report of the Committee and the Auditors thereon.

2. To elect a President, Vice President and the Committee Members.

3. To appoint Auditors and to fi x their remuneration.

By Order of the CommitteeRegistered Offi ce: 33B Chowringhee Road sd/-Kolkata 700 071 Dipankar Chakravorty Chief Executive Offi cer & Secretary31 May, 2019


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NOTE:

1. The Club requests Members who have not yet registered their email Id with the Club to do so at the earliest so that the Statement of the Annual Accounts can be emailed at their registered email Id instead of sending physical copy. Support of the Members will help the Club in participating in the Green Initiative in Corporate Governance and protect environment. Such Members who still require physical copy of the Annual Accounts may indicate their preference in writing to the Club.

2. Nomination for the post of President, Vice-President and the Committee Members shall be received latest by 9th July 2019. The last date for withdrawal of the nomination shall be on 10th July 2019. Final list of the candidates off ering themselves to each of the above posts shall be displayed on the Notice Board of the Club on 11th July 2019.

3. Members who have cleared their Club bills till the month of May 2019 only shall be eligible to cast their vote on the business stated in this Notice. The last date for eff ecting payment is fi xed at 13th July 2019. Vote cast by a member who fails to eff ect payment by the said date is liable to be rejected.

4. In compliance with Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies (Management and Administration) Rules 2014, the Club is pleased to provide Members with the facility to cast their votes through remote e-voting which shall be available to Members from 16th July 2019 (9 a.m.) until 18th July 2019 (5 p.m.) . The remote e-voting module shall be disabled by NSDL for voting thereafter. Once the vote on a resolution is cast by the Member, the Member shall not be allowed to change it subsequently.

5. Members who avail of the remote e-voting facility will not be able to vote at the AGM but will be able to attend the AGM.

6. Members may note the following instructions for casting their votes by remote e-voting:-

A. In case a Member receives an e-mail from NSDL [for Members whose e-mail Ids are registered with the Club]

(i) Open e-mail and open PDF fi le viz.: “Bengalclub_e-voting.pdf” with your Membership No as Password. The said PDF fi le contains your User Id and Password/PIN for remote e-voting. Please note that the Password is an initial Password;

(ii) Launch internet browser by typing the following URL: https:// www.evoting.nsdl.com;

(iii) Click on ‘Shareholder - Login‘;

(iv) Put User Id and Password as ‘Initial Password’/PIN noted in step (i) above. Click ‘Login’;

(v) Password change menu will appear. Change the Password/PIN with new Password of your choice with minimum 8 digits/characters or combination thereof. Note your new Password. It is strongly recommended not to share your Password with any other person and take utmost care to keep your Password confi dential;

(vi) Home page of remote e-voting opens. Click on remote e-voting: ‘Active Voting Cycles’;

(vii) Select ‘EVEN’ of Bengal Club Limited;


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(viii) Now you are ready for remote e-voting as ‘Cast Vote’ page opens;

(ix) Cast your vote by selecting appropriate option and click on ‘Submit’ and also ‘Confi rm’ when prompted;

(x) Upon confi rmation, the message ‘Vote cast successfully’ will be displayed;

(xi) Once you have voted on a Resolution, you will not be allowed to modify your vote.

B. In case a Member receives physical copy of the Notice of AGM [for Members whose e-mail Ids are not registered with the Club or requesting physical copy], they need to cast their vote through ballot.

C. In case of any queries/grievances, you may refer the Frequently Asked Questions (FAQs) for Members and remote e-voting user manual for Members available at the ‘Downloads’ section of www.evoting.nsdl.com or call on Toll Free No.: 1800222990 or 022-24994738 or at e-mail id: [email protected].

D. You can also update your mobile number and e-mail Id in the user profi le details of the folio which may be used for sending future communication(s).

7. Mr Shouryabrata Mandal and Mr Arunabha Deb have been appointed by the Committee of the Club as the Scrutinizers, to scrutinize the voting process in a fair and transparent manner.

8. Members who are present at the AGM and did not cast their votes by availing the remote e-voting facility shall be permitted to cast their vote at the AGM.

9. The Scrutinizers shall, immediately after the conclusion of voting at the AGM, unblock the votes cast through electronic voting system provided at the AGM venue and remote e-voting in the presence of at least two witnesses, not in the employment of the Club and make, within 48 hours of conclusion of the AGM, a consolidated scrutinizer’s report of the total votes cast in favor or against, if any, to the Chairman or a person authorized by him in writing who shall countersign the same and declare the results of the voting forthwith. The resolution (s) shall be deemed to be passed on the date of the relevant general meeting, subject to receipt of requisite number of votes.

10. The results of the voting along with the report of the Scrutinizers shall be placed on the Club’s website www.thebengalclub.com and on the website of NSDL immediately after the results are declared. The results shall also be made available on the Notice Board of the Club at its Registered Offi ce in Kolkata.


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Report of The Committee of The Bengal Club LimitedSome major events of the Club from August 2018 to June 2019:

Entertainment & Sports ~

• August 18, 2018 ~ International Dance Festival featuring Bharat Natyam with Spanish Flamenco

• October 6, 2018 ~ ‘Agomoni’ Dance Drama with Rubena Chatterji and her team

• November 3, 2018 ~ Diwali Night with Kutle Khan and his Troupe from Rajasthan

• November 17, 2018 ~ Park Street Nostalgia with Usha Uthup.

• December 31, 2018 ~ New Years’ Eve Party with Band Krosswinds

• January 23, 2019 ~ Annual Institutional Open Quiz with Quizmaster Abhijit Banerjee

• January 27, 2019 ~ “The Mentalist” - Roy Zaltsman mesmerized the record turnout at the Bengal Club.

• March 6, 2019 ~ A Classical Evening featuring Ustad Nishat Khan and Pandit Subhankar Banerjee

• April 7, 2019 ~ Inter Club Bridge Tournament featuring players from 12 reputed Clubs of Kolkata

• April 12, 2019 ~ Poila Baisakh with renowned singer Iman Chakraborty

• May 11, 2019 ~ Inter Club Chess Tournament featuring 6 renowned Clubs of Kolkata and including a

team from The Bengal Club. The Chief Guest was Grandmaster Dibyendu Barua.

• May 15, 2019 ~ Rabindranath-O-Bideshi with Jayati Dasgupta and Sujoy Prasad Chatterjee

• May 25, 2019 ~ Ladies Cocktail Evening with Band Stairwayz and a Fun Quiz

Library Talks & Events ~

• July 21, 2018 ~ Sumantra Bose ~ Secular State and Religious Politics

• August 14, 2018 ~ Maitresh Suman Ghosh ~ India Growth

• September 1, 2018 ~ Diego Sanchez ~ Roots and Routes: India and Spain

• September 14, 2018 ~ Jawhar Sircar ~ How Bengali is the Bengali Culture?

• September 27, 2018 ~ Ananda Lal ~ Theatre in Troubled Times

• January 12, 2019 ~ Annual Panel Discussion ~ “Freedom of Press is a fi gment of our imagination”.

Panelists included Ratikanta Basu, Rebecca Skippage (BBC) , Babul Supriyo, Sugata Bose, Sunanda K

Datta-Ray, Sunetra Chowdhury. The discussion was moderated by Kunal Sarkar.

• January 19, 2019 ~ Rosinka Chaudhuri ~ Tagore and the Bengali Drawing Room.

• February 9, 2019 ~ Shuma Raha ~ Modern Love


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• March 8, 2019 ~ Paranjoy Guha Thakurta and Sourya Majumdar ~ Loose Pages: Court Cases that

could have shaken India

• March 27, 2019 ~ The Annual MAK Pataudi Lecture at The Oberoi Grand ~ Speaker David Ivon Gower

• April 11, 2019 ~ Goutam Halder ~ Rabindranath er Nari Charitra

• April 26, 2019 ~ Gayatri Chakravorty Spivak ~ Preserving Textual Treasures of Bengal

• May 1, 2019 ~ Ruchir Sharma in conversation with Harsh Neotia ~ The Rise and Fall of Nations

• May 8, 2019 ~ Bihani Sarkar ~ Classical Sanskrit Tragedies

Food Events ~

• August 12, 2018 ~ The Bengal Club Monsoon Special Lunch

• September 7, 2018 ~ English Pub Grub Night

• September 9, 2018 ~ Beer & Hilsa Festival

• September 29, 2018 ~ A Pure Vegetarian Gourmet Dinner

• October 14 and 16, 2018 ~ Durga Puja Special Bengali Lunch

• December 25, 2018 ~ Traditional Christmas Lunch

• January 12, 2019 ~ Kashmiri Dinner

• February 1, 2019 ~ Foundation Day Dinner

• February 6, 2019 ~ Live Bar B Q at the Rooftop

• February 16, 2019 ~ Annual Global Culinary Festival

• March 6, 2019 ~ Dinner by Oudh 1590

• March 27, 2019 ~ English Pub Grub

• May 3 and 10, 2019 ~ Pork Addicts Delight. Repeated due to Member’s Demand.

• May 15, 2019 ~ Thakur Barir Ranna

New facility ~

• Conversion of the Millennium Room to a Coastal Cuisine Restaurant and an Art Gallery

• Opening of a “Wi-Fi Café at Sports Bar”

• Installation of a Stair Lift in the Staircase leading to Room No 300 and the Library for our old, aged

and diff erently abled Members.


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The Committee is pleased to submit the Annual Report of the Club for the year ended 31 March 2019.

Summary of the Financial Results of the Club:

For the year ended

31 March, 2019

For the year ended

31 March, 2018 (` in Lakhs) (` in Lakhs)

Total Income including Interest Income 1465.64 1340.96

Total Expenditure excluding Depreciation 1392.49 1268.16

Surplus before Depreciation & Taxation 73.15 72.80

Less: Depreciation 52.04 50.51

Surplus before Taxation 21.11 22.29

Less: Taxation 13.94 19.12

Net Surplus 7.17 3.17

Highlights

The gross receipt of the Club was ` 1465.64 lakhs as compared to ` 1340.96 lakhs in the previous year. The overall usage of the Club facilities by the Members was higher as compared to last year.

The total investments in Bonds and Fixed Deposits with the Bank stood at ` 1104.51 lakhs compared to` 1005.65 lakhs in the previous year, i.e., an increase of ` 98.86 Lakh in the current year.

Despite the increase in revenue, the employee cost also grew substantially. However, the total net surplus was ` 7.17 lakhs as compared to ` 3.17 lakhs in the previous year.

Departmental Performances

Coff ee Room

The gross revenue during the year was ` 416.35 lakhs which is higher by ` 40.49 lakhs as compared to the previous year’s revenue of ̀ 375.86 lakhs. The increase in the revenue is partly due to the incremental footfall and 5 to 7% increase in sale price. Initiatives were carried out to serve innovative items, organise special gastronomic events as well as eff ective menu planning for various buff ets. New items for set lunches were also introduced. This was done based on the suggestions and comments received from various Members. Despite these eff orts, gross surplus was less than satisfactory due to increased salary and wages.

Oriental Room

The Oriental Room continues to be a very popular dining place amongst our Members in the Club. This year gross sales increased by ` 20.81 lakhs to ` 150.91 lakhs as compared to ` 130.10 lakhs in the previous year. Several new items were introduced, amongst them Honey Glazed Duck, was well appreciated by Members.

Coastal Cuisine

A new restaurant “Coastal Cuisine at the Millennium Gallery” was inaugurated at the Club on 29th March 2019. Apart from being a coastal food restaurant, it also displays paintings from young artists from Kolkata. Members have highly appreciated the food as well as the ambience. However the fi nancials are not included in the current balance sheet, but will be refl ected from 1st April, 2019.


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Bakery and Ice-cream Counter

The Club Bakery and the Ice Cream Counter continued to retain their popularity. The total revenue this year was Rs.77.91 lakhs as compared to the previous year of ` 70.05 lakhs, refl ecting an increase of ` 7.86 lakhs.

Barber Shop

The Barber Shop continues to be patronized by our Members.

Bars

The Bar has registered a satisfactory sale fi gure of ` 268.97 lakhs as compared to that of the previous year of ` 244.62 lakhs, an increase of ` 24.35 lakhs. However, surplus has increased marginally by ` 2.96 lakhs. This surplus was low mainly due to the steep increase in the liquor license fee prevailing at present. The Sports Bar now has a new facility during the day time named as “Wi-Fi Café at Sports Bar” providing Wi-Fi facility so that Members can avail of internet facility. Diff erent types of Coff ee are also being served along with sandwiches, bacon and chicken puff , pastries etc. The dress code is relaxed.

Residential Chambers

The Chambers continue to remain a major concern in the face of stiff competition from the hospitality sector. The overall occupancy this year was 58%. Revenue decreased to ` 99.13 lakhs as compared to the previous year of ` 113.22 lakhs. In addition, introduction of complimentary breakfast has also increased the shortfall by ` 1.95 lakhs. The total surplus was only ` 2.51 lakhs as compared to that of previous year of ` 21.01 lakhs. This has signifi cantly aff ected our total ‘Departmental Surplus’. Reducing the numbers of rooms and converting them to more fi nancially viable club facilities is being thought of.

Reynolds Room

This heritage lounge with its quiet and cosy atmosphere is a very popular outlet for enjoying light refreshments. The Club is planning to introduce a “Short-Story Vending Machine” here so that Members can browse through their favourite stories over a cup of tea or coff ee. This will be housed inside a replica of an old ‘Post Box’. Apart from the existing menu some new snacks items have been introduced which are very popular with the Members.

Entertainment and Sports

The highlight of the year was a special event organized by the Club. We invited the world famous Mentalist from Israel, Mr Ray Zaltsman. He mesmerized the audience with an unforgettable performance, and drew a record participation of over 400 Members and their guests. The International Dance Festival and The Park Street Nostalgia presented by famous Ms Usha Uthup also met with great success. The Annual Institutional Open Quiz featuring Quizmaster Abhijit Banerjee was also well attended by Members.

A Yoga workshop was also introduced at the Club for the fi rst time. The Club also organised the Inter Club Bridge Tournament by inviting 13 of the leading Clubs of India. A total turnout in excess of 120 plus participants made the tournament a grand success. This was followed by the Inter Club Chess Tournament under the aegis of West Bengal Chess Association and 6 Clubs participated in the event. Grandmaster Dibyendu Barua was the Chief Guest and he gave away the prizes.


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Sports Lounge

The Sports Lounge which became operational since last year is slowly but steadily gaining popularity. Billiards workshops were introduced, the 1st ever Intra Club Chess Championship was held there. The Card tables were well utilized by the Bridge players and the outside air conditioned covered verandah was often used for small gatherings.

Library

This year the Club organised quite a few Library Talks by eminent personalities. Varied in themes - the captivating Talks ranged from Jawhar Sircar’s “How Bengali is Bengali Culture”, Ananda Lal’s “Theatre in the Troubled Times, Sumantra Bose speaking on “Secular State and Religious Politics”, Rosinka Chowdhury’s talk on “Tagore and the Bengali Drawing Room”, Diego Sanchez discussing “Roots & Routes: India and Spain to the illuminating talk by Gayatri Chakravorty Spivak, an Indian scholar, literary theorist and feminist critic on “Preserving Textual Treasures of Bengal”,

This was followed by a chat session between Ruchir Sharma and Harsh Neotia on “The Rise and Fall of Nations” and Paranjoy Guha Thakurta speaking to Sourya Majumdar on “Loose Pages: Court cases that could have shaken India”. Also there were other talks by Maitresh Suman Ghosh, Shuma Raha, Gautam Halder and Bihani Sarkar. Few movies, the likes of which were The English Patient, Annie Hall, Bend it like Beckham, Borg vs McEnroe, A Separation, Mary Kom, The Murder of Roger Ackroyd, Murder on the Orient Express, Bohemian Rhapsody and A Star is Born, were enjoyed by the Members.

The Club’s signature Annual Panel Discussion, “Freedom of Press is a fi gment of our Imagination” was held this year with eminent speakers like Ratikanta Basu, Rebecca Skippage(BBC) , Babul Supriyo, Sugata Bose, Sunanda K Datta-Ray and Sunetra Chowdhury. Dr Kunal Sarkar was the Moderator.

Our trademark MAK Pataudi Lecture was delivered this year by David Ivon Gower, former Captain of the England Cricket Team at the Oberoi Grand.

Research, Analysis and Membership Usage

A Subcommittee was formed for the fi rst time this year and has added great value. The Chairman along with our Systems Manager provided various data on the usage by our Members which were analyzed according to their age and duration of Membership. Also, this Subcommittee looked in great details at the footfall in our parties, food outlets and occupancy in residential Chambers. The Main Committee took various meaningful decisions based on the data supplied by this Subcommittee.

Heritage & Preservation

Out of our 12 notable and expensive wall paintings at the Club, 8 of them were restored before this Committee year. This particular Subcommittee carried out restorations successfully of the remaining 4 paintings. Inventory of all the Silverware items is checked and monitored regularly by the Subcommittee and currently all the silverwares are under insurance cover.


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Project, Maintenance & Housekeeping

This Subcommittee successfully restored a damaged ceiling in one of our Chambers room. Restoration of the Balance ceilings to be carried out in the next Committee Year. The passageway leading to the Systems Room, Cash Room and the Hindu Staff Quarters which was in a bad shape was restored successfully. Also, as a new initiative, a new Stair Lift has been installed in the staircase in the 2nd Floor leading to Room 300 and the Library for our old, aged and diff erently abled Members.

Business Centre

The Business Centre continues to be used for meetings and conferences and is doing reasonably well.

Projects

During the year the following projects were completed:

• Conversion of The Millennium Room into a Coastal Cuisine Restaurant

• Renovation of select Chamber Room No 14

• Wi-Fi Café at Sports Bar

• Installation of a Stair Lift in the staircase leading to Room No 300 and the Library for our old, aged and diff erently abled Members.

Membership (status as on March 31, 2019)

2019 2018Town Members 776 762

Life Members 212 210

Mofussil Members 225 221

Special Members 215 198

Non Resident/Supernumery 89 86

Honorary 1 1

Corporate Nominees 82 84

Reciprocal 159 163

Total 1759 1725


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Corporate Governance

During the period August 2018 to May 2019, 9 (nine) General Committee Meetings were held.

Committee Member Meetings AttendedTapas Raychaudhury 9

Ambarish Dasgupta 8

Avijit Mukerji 8

Jayanti Prasad Khaitan 8

Kunal Sen 9

Nandini Ray 5

Partha Ranjan Das 9

Sandip Chatterjee 6

Shib Sanker Mukherji -

Soumendra Nath Mookherjee 7

Sumit Mazumder 9

Sumit Ray 7

Sutanu Ghosh 3

Subcommittees

The various Subcommittees met as follows:

Subcommittee Meetings held between August 2018 to May 2019Administration 4

Bar 6

Chambers 4

Entertainment & Sports 3

Finance & Systems 5

Food 6

Legal -

Library 6

Membership 9

Project & Maintenance 5

Heritage & Preservation 2


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Deceased Members

The Committee deeply regrets the sad demise of the following Members since the last Annual General Meeting in July 2018:

Abhijit Basu (BB 88) Kallol Datta (BD 177)

Amit Kumar Sen (BS 115) Kersasp Dastur (BD 13)

Amitava Bose (BB 276) Narayanaswami Sitaraman (BS 223)

Arijit Kumar Ghosh (BG 53) Narendra Nath Atal (BA 8)

Arup Kumar Banerjee (BB 152) Nirmalendu Guha (BG 86)

Ashim Ranjan Chaudhury (BC 54) N K Agarwal (BA 44)

Asok Kumar Das (BD 103) Pannalal Roychowdhury (BR 119)

Bimalendu Banerjee (BB 121) Prakash Chand Jain (BJ 8)

Chandra Shekar Jalan (BJ 41) Shyam Sundar Shah (BS 114)

Dileep Krishna Rohatgi (BR 100) Sujitendra Krishna Deb (BD 121)

Dipankar Prasad Gupta (BG 97) Tara Chand Mohanka (BM 87)

Gordhandas Jerambhai Wadhwa (BW 1) Tarun Chandra Basu (BB 105)

The Committee

Mr Anjan Chatterjee resigned from the Committee in August 2018 and in his place Mr Avijit Mukerji was inducted as a member of the Committee. Mr Sutanu Ghosh resigned from the Committee in December 2018 and Dr (Ms) Nandini Ray was inducted as a Committee member in January 2019. Mr Shib Sanker Mukherji resigned from the Committee in January 2019 after completing his tenure as Bengal Club President. The Committee thanked Mr Shib Sanker Mukherji most warmly for his leadership and guidance. In the vacancy created by the resignation of Mr Shib Shanker Mukherji, Ms Afroze Randerian was inducted as a member of the Committee in May 2019.

The following Committee Members retire at the forthcoming Annual General Meeting but being eligible, off er themselves for re-election.

Tapas Raychaudhury Kunal Sen

Sumit Mazumder Nandini Ray

Afroze Randerian Partha Ranjan Das

Ambarish Dasgupta Sandip Chatterjee

Avijit Mukerji Soumendra Nath Mookherjee

Jayanti Prasad Khaitan Sumit Ray

Sumit Mazumder and Soumendra Nath Mookherjee have off ered themselves for election as the President and Vice President of the Club respectively at the forthcoming Annual General Meeting.


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Committee Members’ Responsibility Statement

As stipulated under Section 134 Sub-sections 3 (C) and 5 of the Companies Act, 2013 your Committee states that:

(a) in the preparation of the annual accounts, the applicable accounting standards have been followed.

(b) they have selected such accounting policies and used the same consistently and applied judgements and estimates that are reasonable and prudent so as to present a true and fair view of the state of aff airs of the Club as at 31 March 2019 and of the Statement of Income and Expenditure of the Club for the fi nancial year ended 31 March 2019;

(c) they have taken adequate care for the maintenance of proper accounting records in accordance with the provisions of this Act for safeguarding the assets of the Club and for preventing and detecting fraud and other irregularities;

(d) they have prepared the annual accounts on a “going concern” basis.

(e) they had devised proper systems to ensure compliance with the provisions of all applicable laws, less Internal Financial Control over Financial Reporting, which is under process. However, adequate internal control systems are in place and maintained eff ectively and operated in all respects to the fi nancial reporting.

Secretariat and Staff Relations

The relationship between the Committee and the Staff remained cordial throughout the year.

The Committee would like to place on record its deep appreciation for the excellent and effi cient work done by the Secretariat and the excellent services rendered by the Staff throughout the period.

The Bengal Club is one of the oldest social clubs in India and has enjoyed an iconic stature for close to192 years. It is incumbent on all Members to ensure that the values and traditions of the Club remain, even while we embrace change and evolve with contemporary times.

For and on behalf of the Committee

Place: Kolkata Tapas Raychaudhury

Date: 31st May, 2019 President


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INDEPENDENT AUDITOR’S REPORT ToThe Members ofThe Bengal Club Limited

Report on the Audit of the Financial Statements

Opinion

We have audited the fi nancial statements of The Bengal Club Limited (“the Club”) , which comprise the balance sheet as at 31st March 2019, and the statement of Income and Expenditure, and statement of cash fl ows for the year then ended, and notes to the fi nancial statements, including a summary of signifi cant accounting policies and other explanatory information.

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid fi nancial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of aff airs of the Club as at March 31, 2019, Income and Expenditure, and its Cash Flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specifi ed under section 143 (10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Club in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the fi nancial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfi lled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is suffi cient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgement, were of most signifi cance in our audit of the fi nancial statements of the current period. These matters were addressed in the context of our audit of the fi nancial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We have determined that there are no key audit matters to communicate in our report.

• Information Other than the Financial Statements and Auditors’ Report Thereon

The Club’s General Committee Members are responsible for the preparation of the other information. The other information comprises the Committee Report included in the Annual report, but does not include the fi nancial statements and our auditors’ report thereon.

Our opinion on the fi nancial statements does not cover the other information, and accordingly, we do not express any form of assurance conclusion thereon.


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In connection with our audit of the fi nancial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the fi nancial statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated.

If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of Management and Those Charged with Governance for Financial Statements

The Club’s Committee is responsible for the matters stated in section 134 (5) of the Companies Act, 2013 (“the Act”) with respect to the preparation of these fi nancial statements that give a true and fair view of the fi nancial position, fi nancial performance, and cash fl ows of the Club in accordance with the accounting principles generally accepted in India, including the Accounting Standards specifi ed under section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Club and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal fi nancial controls, that were operating eff ectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the fi nancial statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the fi nancial statements, management is responsible for assessing the Club’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Club or to cease operations, or has no realistic alternative but to do so.

Those Committee Members are also responsible for overseeing the Club’s fi nancial reporting process.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the fi nancial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to infl uence the economic decisions of users taken on the basis of these fi nancial statements.

As part of an audit in accordance with SAs, we exercise professional judgement and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the fi nancial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is suffi cient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.


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• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143 (3) (i) of the Companies Act, 2013, we are also responsible for expressing our opinion on whether the Club has adequate internal fi nancial controls system in place and the operating eff ectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast signifi cant doubt on the Club’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the fi nancial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Club to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the fi nancial statements, including the disclosures, and whether the fi nancial statements represent the underlying transactions and events in a manner that achieves fair presentation.

• Materiality is the magnitude of misstatements in the fi nancial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the fi nancial statements may be infl uenced. We consider quantitative materiality and qualitative facts in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the eff ect of any identifi ed misstatements in the fi nancial statements.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and signifi cant audit fi ndings, including any signifi cant defi ciencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditor’s Report) Order, 2016 (“the Order”) , issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act, 2013, we give in the Annexure (A) a statement on the matters specifi ed in paragraphs 3 and 4 of the Order, to the extent applicable.

As required by Section 143 (3) of the Act, we report that:

(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.


CIN : U91990WB1907GAP00175418

(b) In our opinion, proper books of account as required by law have been kept by the Club so far as it appears from our examination of those books.

(c) The Balance Sheet, the Statement of Income and Expenditure, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account.

(d) In our opinion, the aforesaid fi nancial statements comply with the Accounting Standards specifi ed under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

(e) On the basis of the written representations received from the Members of the General Committee as on 31st March, 2019 taken on record by management of the Club, none of the Committee Members are disqualifi ed as on 31st March, 2019 from being appointed as a Committee Member in terms of Section 164 (2) of the Act.

(f ) With respect to the adequacy of the internal fi nancial controls over fi nancial reporting of the Club and the operating eff ectiveness of such controls, refer to our separate Report in “Annexure B”.

(g) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

i. The Club has disclosed the impact of pending litigations on its fi nancial position in its fi nancial statements –in Note 21 to the fi nancial statements;

ii. The Club does not have any long term contracts including derivative contracts for which there were any material foreseeable losses;

iii. There are no amounts that are required to be transferred to the Investor Education and Protection Fund by the Club.

For RAY & RAY (R. N. Roy) Chartered Accountants PartnerFirm Registration No. 301072E Membership No. 8608

Place: KolkataDate: 31st May, 2019


CIN : U91990WB1907GAP001754 19

‘Annexure A’ to the Auditor’s Report (The Annexure referred to in paragraph 1 “Report on Other Legal and Regulatory Requirements” of the Auditors’ Report of even date) .

(i) (a) The Club has maintained records showing particulars, including quantitative details and situation of fi xed assets which off ers scope for improvement.

(b) As explained to us, fi xed assets have been physically verifi ed by an independent fi rm of Chartered Accountants during the year on whose report we have relied upon and which in our opinion is reasonable having regard to the size of the Club and nature of the assets. Discrepancies observed in the course of such physical verifi cation have been adjusted in the accounts.

(c) The immovable properties of the Club are held in its name as verifi ed from the Advocate’s certifi cate in this regard.

(ii) Physical verifi cation of the inventory has been conducted at reasonable intervals by the management. Discrepancies which were noticed on such verifi cation were not material and the same has been properly dealt with in the books of accounts.

(iii) The Club has not granted any loans, secured or unsecured, to companies, fi rms, Limited Liability Partnerships or other parties covered in the register maintained under section 189 of the Companies Act, 2013.

(iv) In our opinion and according to the information and explanations given to us, the Club has complied with the provisions of Sections 185 and 186 of the Companies Act, 2013 in respect of making investments as applicable. The Club has not granted any loans or provide guarantees.

(v) According to the information and explanations given to us, the Club has not accepted any deposit during the year and had no unclaimed deposits at the beginning of the year as per the provisions of Sections 73 to 76 or any other relevant provisions of the Companies Act, 2013.

(vi) As informed to us, the maintenance of cost records has not been specifi ed by the Central Government under section 148 (1) of the Companies Act, 2013.

(vii) According to the information and explanations given to us, in respect of statutory dues:

(a) The Club has been generally regular in depositing undisputed statutory dues, including Provident Fund, Employees’ State Insurance, Income-tax, Sales Tax, Customs Duty, Excise Duty, Service Tax, Value Added Tax, Goods and Service Tax, Cess and other material statutory dues applicable to it to the appropriate authorities.

There were no undisputed amounts payable in respect of Provident Fund, Employees’ State Insurance, Income-tax, Sales Tax, Service Tax, Customs Duty, Excise Duty, Value Added Tax, Goods and Service Tax, Cess and other material statutory dues in arrears as at 31st March, 2019 for a period of more than six months from the date they became payable.


CIN : U91990WB1907GAP00175420

(b) As per the details provided by the Club, the dues of Income-tax, Sales Tax, Municipal Tax and Service Tax which have not been deposited as on 31st March, 2019 on account of disputes are given below:

Name of the Statute

Nature of duesAmount

(` in Lakhs)

Forum where dispute is pending

Year to which the amount relates

West Bengal Sales Tax Act

Sales Tax 74.15Assistant Commissioner Commercial Taxes, South

Circle, Kolkata2000 to 2003


Sales Tax 26.47

Appellate Forum before Assistant Commissioner of Commercial Taxes, South

Circle, Kolkata

2005-2006


Sales Tax 303.94

Appellate & Revisional Board/Sr. Joint

Commissioner of Commercial Tax, Kolkata

2009-10 to 2015-16

Kolkata Municipal

Corporation Act,1980

Commercial Surcharge of Municipal Tax

6.41Division Bench of Calcutta

High Court1998-1999 to 2008-

2009

Kolkata Municipal

Corporation Act,1980

Commercial Surcharge of Municipal Tax

37.10Division Bench of Calcutta

High CourtAs on 31.3.18

Income Tax Act, 1961

Income Tax 0.16Assistant Commissioner of

Income Tax, Circle 8

A petition under section 154 has been fi led in this respect.

Finance Act, 1994

Service Tax 134.75

Joint Commissioner of Central Tax, Kolkata

Audit-1 (CGST & CX) Commissionerate, Kolkata

October 2013 to June 2017

Refer Note No. 21 of the Financial Statements

(viii) According to the records of the Club examined by us and as per the information and explanations given to us, the Club has not availed of any loans or borrowings from any fi nancial institution or banks or government and has not issued any debentures.

(ix) The Club has not raised moneys by way of initial public off er or further public off er (including debt instruments) or term loans and hence reporting under clause (ix) of the Order is not applicable.


CIN : U91990WB1907GAP001754 21

(x) To the best of our knowledge and according to the information and explanations given to us, no fraud by the Club and no material fraud on the Club by its offi cers or employees has been noticed or reported during the year.

(xi) In our opinion and according to the information and explanations given to us, the provisions of section 197 of the Companies Act, 2013 do not apply to the Club.

(xii) The Club is not a Nidhi Company and hence reporting under clause (xii) of the Order is not applicable.

(xiii) In our opinion and according to the information and explanations given to us, the provisions of Section 188 and 177 of the Companies Act, 2013 do not apply to the Club.

(xiv) The Club has not made any preferential allotment/private placement of shares or fully or partly convertible debentures during the year under review. Hence, the requirement of Section 42 of the Companies Act, 2013 is not applicable to the Club.

(xv) In our opinion and according to the information and explanations given to us, during the year the Club has not entered into any non-cash transactions with Committee Members or persons connected with them and so the provisions of Section 192 of the Companies Act, 2013 are not applicable.

(xvi) The Club is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934.




CIN : U91990WB1907GAP00175422

‘Annexure B’ to Independent Auditor’s ReportReport on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Act”)

We have audited the internal fi nancial controls over fi nancial reporting of The Bengal Club Limited (“the Club”) as of 31st March, 2019 in conjunction with our audit of the fi nancial statements of the Club for the year ended on that date.

Management’s Responsibility for Internal Financial Controls

The Club’s management is responsible for establishing and maintaining internal fi nancial controls based on the internal control over fi nancial reporting criteria established by the Club considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India (‘ICAI’) .

These responsibilities include the design, implementation and maintenance of adequate internal fi nancial controls that were operating eff ectively for ensuring the orderly and effi cient conduct of its business, including adherence to Club’s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable fi nancial information, as required under the Companies Act, 2013.

Auditor’s Responsibility

Our responsibility is to express an opinion on the Club’s internal fi nancial controls over fi nancial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls over Financial Reporting (the “Guidance Note”) and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143 (10) of the Companies Act, 2013, to the extent applicable to an audit of internal fi nancial controls, both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal fi nancial controls over fi nancial reporting were established and maintained and if such controls operated eff ectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal fi nancial controls system over fi nancial reporting and their operating eff ectiveness.

Our audit of internal fi nancial controls over fi nancial reporting included obtaining an understanding of internal fi nancial controls over fi nancial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating eff ectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the fi nancial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is suffi cient and appropriate to provide a basis for our audit opinion on the Club’s internal fi nancial controls system over fi nancial reporting.


CIN : U91990WB1907GAP001754 23

Meaning of Internal Financial Controls over Financial Reporting

A Club’s internal fi nancial control over fi nancial reporting is a process designed to provide reasonable assurance regarding the reliability of fi nancial reporting and the preparation of fi nancial statements for external purposes in accordance with generally accepted accounting principles. A Club’s internal fi nancial control over fi nancial reporting includes those policies and procedures that

1) Pertain to the maintenance of records that, in reasonable detail, accurately and fairly refl ect the transactions and dispositions of the assets of the Club;

2) Provide reasonable assurance that transactions are recorded as necessary to permit preparation of fi nancial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Club are being made only in accordance with authorizations of management and Members of General committee of the Club; and

3) Provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the Club’s assets that could have a material eff ect on the fi nancial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal fi nancial controls over fi nancial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal fi nancial controls over fi nancial reporting to future periods are subject to the risk that the internal fi nancial control over fi nancial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

Based on our audit procedures, in our opinion, the Club generally has, in all material respects, an adequate internal fi nancial controls system over fi nancial reporting and such internal fi nancial controls over fi nancial reporting were operating eff ectively as at 31st March, 2019, based on the internal control over fi nancial reporting criteria established by the Club considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.




CIN : U91990WB1907GAP00175424

Balance Sheet as at 31 March 2019

NoteAs at

31 March 2019As at

31 March 2018` `

I. FUNDS AND LIABILITIESMembers’ FundsReserves and Surplus 2 19,94,58,096 18,46,19,158 Non Current LiabilitiesLong Term Provisions 3 81,58,985 81,58,985 82,76,145 82,76,145 Current LiabilitiesTrade Payables

Total outstanding dues of Creditors-Micro & Small Enterprises. - -

Total outstanding dues of Creditors-Other than Micro & Small Enterprises

4 95,46,368 55,92,488

Other Current Liabilities 5 80,49,550 76,53,850 Short Term Provisions 6 60,52,173 2,36,48,091 56,00,290 1,88,46,628

Total 23,12,65,172 21,17,41,931 II. ASSETSNon Current AssetsProperty, Plant and Equipment a) Tangible Assets 7 7,71,70,831 6,68,05,682 b) Intangible Assets 2,46,727 3,73,733 Non Current Investments 8 3,82,40,731 3,89,79,581 Long-Term Loans and Advances 9 1,20,70,284 1,18,09,614 Other Non-Current Assets 10 58,11,351 13,35,39,924 1,62,04,484 13,41,73,094 Current AssetsInventories 11 26,96,682 25,60,605 Trade Receivables 12 1,67,06,553 1,57,42,020 Cash and Cash Equivalents 13 7,06,15,322 5,13,58,363 Short Term Loans and Advances 14 48,67,032 51,89,271 Other Current Assets 15 28,39,659 9,77,25,248 27,18,578 7,75,68,837

Total 23,12,65,172 21,17,41,931

Notes 1 to 15 and 21 to 29 are an integral part of the Balance SheetThis is the Balance Sheet referred to in our report of even date

For RAY & RAY For and On behalf of the Committee:Chartered Accountants (Firm’s Registration No. 301072E) Tapas Raychaudhury (President) R. N. ROY Partner Avijit MukerjiMembership No. 8608 (Member of the Committee)

Place : Kolkata Dipankar ChakravortyDate : 31st May, 2019 (Chief Executive Offi cer & Secretary)


CIN : U91990WB1907GAP001754 25



Statement of Income & Expenditure for the year ended 31 March 2019

NoteYear ended 31

March 2019Year ended 31

March 2018` `

I. INCOME

Subscriptions 16 2,31,23,552 1,99,42,263

Departmental Surplus 17 66,77,019 73,69,622

Other Income 18 2,21,12,716 2,07,69,491

Total 5,19,13,287 4,80,81,376

II. EXPENDITURE

Administrative Expenses General 19 4,45,98,592 4,08,00,807

Depreciation and Amortisation Expenses 20 52,03,872 50,51,233

Total 4,98,02,464 4,58,52,040

SURPLUS BEFORE TAXATION 21,10,823 22,29,336

TAX EXPENSES

Provision for Tax -Current Year 16,37,583 19,12,064

Tax adjustments for Earlier Year (2,43,677) -

SURPLUS AFTER TAXATION 7,16,917 3,17,272

Notes 1 & 16 to 20 and 21 to 29 are an integral part of the Statement of Income & ExpenditureThis is the Statement of Income & Expenditure referred to in our report of even date.


CIN : U91990WB1907GAP00175426

Cash Flow Statement for the year ended 31 March 2019Year ended 31

March 2019 Year ended 31

March 2018 ` `

A. Cash Flow from Operating ActivitiesProfi t before Taxation 21,10,823 22,29,336 Adjustments for:

1 Depreciation and amortisation expenses 52,03,872 50,51,233 2 Loss on sale of Assets 1,64,095 1,65,354 3 Interest income (83,34,610) (82,36,368) 4 Bad Debts writtem off 1,112 61,029 5 Loss on Exchange Fluctuation 12,802 24,977 6 Loss on Redemption of Investments 48,966 4,20,111 7 Profi t on Insurance Claim (92,449)

Operating Profi t before working capital changes (8,85,389) (2,84,328) Adjustments for :

1 Trade & Other Receivables (4,28,840) (63,35,374) 2 Inventories (1,36,077) 9,21,109 3 Trade Payables and other current liabilities 48,01,463 42,10,100 4 Long Term Provision (1,17,160) 8,26,487 5 Non Current Assets 13,896 7,416

32,47,893 (6,54,590) Income from Corporate Members fees (76,00,000) (73,00,000) Cash generated from/(used on) operations (43,52,107) (79,54,590)

Payment of direct taxes (16,54,576) (16,83,087) Net Cash generated from/(used on) operations (60,06,683) (96,37,677) B. Cash Flow from Investing ActivitiesPurchase of Fixed Assets (1,57,99,778) (1,41,59,895) Purchase of Investments (33,10,116) (3,04,54,741) Sale of Fixed Assets 58,750 1,54,000 Sales Proceeds on redemption of Investment 40,00,000 92,50,000 Interest received 82,13,529 81,33,509 Fixed Deposit Purchases 1,03,79,237 (55,06,040) Net Cash fl ow from/(used in) Investing Activities 35,41,622 (3,25,83,167) C. Cash Flow from Financing ActivitiesCorporate Members fees received 90,00,000 90,00,000 Entrance fees received 2,02,55,250 1,78,93,960 Development fund utilised (75,33,230) (77,14,624) Net Cash fl ow from/(used in) Financing Activities 2,17,22,020 1,91,79,336 Net increase in Cash and Cash Equivalents during the year (A+B+C) 1,92,56,959 (2,30,41,508) Cash & Cash Equivalents at the beginning of the year 5,13,58,363 7,43,99,871 Cash & Cash Equivalents at the end of the year 7,06,15,322 5,13,58,363

Notes:The above Cash Flow Statement has been prepared under the indirect method as set out in the Accounting Standard-3 on Cash fl ow statement. This is the Cash Flow statement, in term of our report attached.




CIN : U91990WB1907GAP001754 27

Notes to the Financial Statement1 General Information

The Bengal Club Ltd (the Club) is a social club limited by guarantee established in 1907 for the purpose of providing privilege, convenience and accommodation to its Members.

2 Signifi cant Accounting Policies

(a) Basis of Accounting

These fi nancial statements have been prepared in accordance with the historical cost convention on accrual basis and in conformity with the relevant accounting standards as notifi ed under the Companies (Accounts) Rules, 2014 and the relevant provisions of the Companies Act, 2013.

All assets and liabilities have been classifi ed as current or noncurrent as per the club operating cycle and other criteria set out in the Schedule III to the Companies Act 2013. Based on the nature of products and the time between the acquisition of assets for processing and their realization in cash and cash equivalents, the Club has ascertained its operating cycle as 12 months for the purpose of current – non current classifi cation of assets and liabilities.

(b) Use of Estimates

The preparation of these fi nancial statements is in conformity with the Generally Accepted Accounting principles which requires management to make estimates that aff ect the reported amount of assets and liabilities and the disclosure of contingent liabilities as at the date of fi nancial statements and the reported amount of revenues and expenses during the reporting period although these estimates are based on management’s best knowledge of current events and actions. Actual results may ultimately diff er from these estimates, which are recognized in the year in which the results are known/materialized.

(c) Property , Plant and Equipment

i) Tangible Assets

Assets are stated at cost. Cost includes taxes, duties, freight and other incidental expenses related to acquisition and installation.

ii) Intangible Assets

Software is expected to provide future enduring economic benefi t and are stated at cost less amortization. All upgradation/enhancement are charged off as revenue expenditure unless they bring signifi cant additional benefi ts. Software is amortized over a period of fi ve years.

iii) Capital work in progress is stated at cost


CIN : U91990WB1907GAP00175428

(d) Depreciation

(i) Tangible Assets

Depreciation is provided on written down value method as prescribed in Schedule II of the Companies Act 2013, except in respect of certain assets mentioned below where the club has adopted useful lives longer than that specifi ed in Schedule II of the Companies Act 2013, based on technical assessment made by an independent valuer.

Building-75 years | Tubewell–20 years | Air Conditioning Plant– 40 years | Electrical Installation- 45 years | Refrigeration & Cold Storage– 40 years | Kitchen Equipments –25 years | Lift – 40 years | Fire Fighting System-25 years | Offi ce Equipment (Heavy Group - 15 years Light Group – 12 years) | Channel Music System-30years | Furniture & Fittings – 40 years |

Depreciation on additions/disposals of the Property, Plant & Equipment is provided on pro-rata basis with reference to the date of additions/disposals. Any Gain/Loss arising out of sale/disposal of Property, Plant & Equipment is treated accordingly in the Income & Expenditure Account.

(ii) Intangible Assets

Intangible assets are amortized as per management estimation over a period of maximum fi ve years.

(iii) Impairment of Assets

Assessment is done at each Balance Sheet date as to whether there is any indication that an asset (tangible and intangible) may be impaired. For the purpose of assessing impairment, the smallest identifi able group of assets that generates cash infl ows from continuing use that are largely independent of the cash infl ows from other assets or group of assets, is considered as a cash generating unit. If any such indication exists, an estimate of the recoverable amount of the asset/cash generating unit is made. Assets whose carrying value exceeds their recoverable amount are written down to the recoverable amount. Recoverable amount is higher of an asset’s or cash generating unit’s net selling price and its value in use .Value in use is the present value of the estimated future cash fl ows expected to arise from the continuing use of an asset and from its disposal at the end of its useful life. Assessment is also done at each Balance Sheet date as to whether there is any indication that an impairment loss recognized for an asset in prior accounting periods may no longer exist or may have decreased.

(e) Investments

Long-term investments are stated at cost. Diminution of permanent nature, if any, is provided for.

(f) Inventories

Inventories are valued at the lower of cost or net realizable value. Cost is determined on weighted average basis, which comprises of expenditure incurred in the normal course of business in bringing the inventory to their present location and condition.


CIN : U91990WB1907GAP001754 29

(g) Crockery, Cutlery and Linen

(i) Crockery and cutlery are charged off in the year of purchase. Certain items of special nature, having enduring value, are charged off over a period of four years from the date of its initial purchase.

(ii) Linen is charged off over a period of four years from the date of its initial purchase.

(h) Retirement and Other Employee Benefi ts

(i) Provident Fund and Employees State Insurance dues (Defi ned Contribution Schemes) are administered by the Government and contributions to the said funds are charged to Income and Expenditure Account on accrual basis.

(ii) Gratuity (Defi ned Benefi t Scheme)

The Club has a Gratuity Fund administered by the Life Insurance Corporation (LIC) of India. The Club has taken a “Group Gratuity Policy” with the LIC for future payment of gratuities to all its retiring employees. The amount of annual contribution, as determined actuarially by LIC, is provided for in these accounts on accrual basis.

(iii) Leave encashment (Defi ned Benefi t Scheme) is provided annually as per actuarial valuation.

(i) Revenue Recognition

(i) The Club follows the accrual basis of accounting in respect of its income and expenditure. The apportionment/allocation of various expenditure amongst the diff erent departments have been made on such basis, as determined by the Committee from time to time.

(ii) Entrance Fees received from the Members are initially credited to “Capital Reserve Account” and a fi xed amount per member is transferred from “Capital Reserve Account” to “Development Fund Account”. The amounts, so transferred, are utilized towards development and maintenance related expenses and/or such other expenses, as determined by the Committee from time to time.

(iii) Entrance Fees received from Corporate Members are initially credited to “Corporate Members Fees” under the head “Reserves and Surplus” and proportionate amount is credited to Subscription Account, as income, in fi ve equal installments over the period of Corporate Membership.

(iv) Sales and Services, which exclude Goods & Services Tax, represent the invoiced value of goods sold and services rendered to the Members.

(v) Income accrued from the Investments, together with the related tax, are credited to Income and Expenditure Account on accrual basis.

(vi) Interest on Deposits is recognized on a time proportionate basis taking into account the amounts outstanding and the rates applicable.


CIN : U91990WB1907GAP00175430

(j) Taxes on Income

Current Tax represents the amount computed on taxable income as per prevailing taxation laws.

(k) Foreign Currency Transactions

Membership Subscriptions and Entrance Fees received in foreign currencies are accounted for as and when received and on the basis of advices received from bank.

(l) Treatment of Prior Period and Extra Ordinary Items

(i) Any material items (other than those arising out of over/under estimation in earlier years) arising as a result of error or omission in preparation of earlier years fi nancial statements are separately disclosed.

(ii) Any material gains/losses which arise from the events or transactions which are distinct from ordinary activities of the Club are separately disclosed.

(m) Provisions, Contingent Liabilities and Contingent Assets

A provision is made based on a reliable estimate when it is probable that an outfl ow of resources embodying economic benefi ts will be required to settle an obligation. Contingent liabilities, if material, are disclosed by way of notes to accounts. Contingent assets are not recognized or disclosed in the fi nancial statements


CIN : U91990WB1907GAP001754 31

Notes to the Financial Statement (Contd.)

As at 31 March

2019 As at 31 March

2018 ` `

2 Reserves and SurplusA. Capital Reserve

Balance at the beginning of the year 14,15,47,431 12,99,53,471

Add : Entrance fees received 2,02,55,250 1,78,93,960

16,18,02,681 14,78,47,431

Less: Transfer to Development Fund 82,25,000 15,35,77,681 63,00,000 14,15,47,431

B. General ReserveBalance at the beginning of the year 2,17,06,575 2,13,89,303

Add: Balance transferred from the Statement of Income and Expenditure Account 7,16,917 2,24,23,493 3,17,272 2,17,06,575

C. Development FundBalance at the beginning of the year 57,65,152 71,79,776

Add: Transfer from Capital Reserve 82,25,000 63,00,000

1,39,90,152 1,34,79,776

Less: Utilisation for development and maintenance related expenses. 75,33,230 64,56,922 77,14,624 57,65,152

D. Corporate Members FeesBalance at the beginning of the year 1,56,00,000 1,39,00,000

Add: Received during the year 90,00,000 90,00,000

2,46,00,000 2,29,00,000

Less: Income recognised for the year 76,00,000 1,70,00,000 73,00,000 1,56,00,000

19,94,58,096 18,46,19,158


CIN : U91990WB1907GAP00175432

As at 31 March 2019

As at 31 March 2018

` `

3 Long Term ProvisionsProvision for Leave Encashment 81,58,985 82,76,145

81,58,985 82,76,145

4 Trade PayablesTotal outstanding dues of creditors- Micro & Small Enterprises. - -

Total outstanding dues of creditors- other than Micro & Small Enterprises (Note:24) 95,46,368 55,92,488

95,46,368 55,92,488

5 Other Current Liabilities Advance Subscriptions from Members 4,90,275 4,80,125

Members Credit Balances 26,34,723 38,21,395

Others Advances 1,00,000 1,00,000

Other Liabilities 38,59,637 26,39,698

Deposit Others 9,64,915 6,12,632

80,49,550 76,53,850

6 Short Term ProvisionsProvision For Employee benefi ts :

Gratuity 17,05,706 20,27,810

Leave Encashment 14,98,313 7,96,730

Bonus 28,48,154 27,75,750

60,52,173 56,00,290



CIN : U91990WB1907GAP001754 33

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CIN : U91990WB1907GAP00175434

As at 31 March 2019

As at 31 March 2018

` `

8 Non Current Investments Long Term - Non-Trade (At Cost) Quoted - Investments in Bonds : • Power Finance Corporation 1 Unit (P.Yr 1 Unit) of 8.80% Tax Free Bonds 2025 10,07,000 10,07,000 • Indian Railway Finance Corporation 3 Units (P.Yr 3 Units) of 8.55% Tax free Bonds 2019 (Matured during this year) - 30,06,000 • Power Finance Corporation 2 Units (P.Yr 2 Units) of 8.70% Tax Free Bonds 2020 20,08,000 20,08,000

• Canara Bank RRLOA perpetual 2020 2 Units (P.Yr 2 Units) of 9.05% Tax Free Bonds 20,31,000 20,31,000 • Housing Urban Development Corporation 701 No (P.Yr 701 No) of 7.02% Tax Free Bonds 2026 7,01,000 7,01,000 • National Highways Authorities 771 No. (P.Yr 771 No) of 7.04% Tax Free Bonds 2026 7,71,000 7,71,000 • Uco Bank Perpetual Bonds 1 Unit (P.Yr.1 Unit) of 11.70% Taxable Bonds 2021 (Redemption dring this year) - 10,42,966 • TATA STEEL Perpetual Bonds 12 Units (P.Yr 9) of 11.80% Taxable Bonds 2021 1,34,42,002 1,01,31,886 • National Highways Authorities- N1 2000 Units (P.Yr 2000 units) of 8.20% Tax Free Bonds 2022 23,80,937 23,80,937 • Power Finance Corporation 1000 Units (P.Yr 1000 units) of 8.20% Tax Free Bonds 2022 11,71,295 11,71,295 • Power Finance Corporation 4000 Units (P.Yr 4000 units) of 8.30% Tax Free Bonds 2027 48,52,770 48,52,770 • Housing Urban Development Corporation 1000 Units (P.Yr 1000 units) of 8.20% Tax Free Bonds 2027 12,10,036 12,10,036 • National Housing Bank 300 Units (P.Yr 300 units) of 8.93% Tax Free Bonds 2029 19,39,254 19,39,254 • National Highways Authorities- N2 4600 Units (P.Yr 4600 units) of 8.30% Tax Free Bonds 2027 55,09,055 55,09,055 • National Highways Authorities- N6 1000 Units (P.Yr 1000 units) of 8.75% Tax Free Bonds 2029 12,16,382 12,16,382

3,82,39,731 3,89,78,581 Un-Quoted 5% Non-redeemable Registered Debenture Stock of Woodland Hospital and Medical Research Centre Limited (Formerly East India Clinic) 1,000 1,000

3,82,40,731 3,89,79,581 Notes :Aggregate Book value of Quoted Investments 3,82,40,731 3,89,79,581 Aggregate market price/NAV of Quoted Investments 3,35,72,000 3,30,72,000 Aggregate Book value of Unquoted Investments 1,000 1,000



CIN : U91990WB1907GAP001754 35

As at 31 March

2019 As at 31 March

2018` `

9 Long Term Loans and Advances (Unsecured - Considered Good) Security Deposits 25,04,858 25,04,858

Advance Payment for :

Income Tax (Net of Provision of ` 1,62,65,538 - Previous Year `

1,49,46,632) 7,41,738 4,06,068

Fringe Benefi t Tax (Net) - 75,000

Municipal Tax [Ref.Note :21 (a) ] 13,03,845 13,03,845

WB Sales Tax [Ref.Note :21 (b) ] 75,19,843 75,19,843

1,20,70,284 1,18,09,614

10 Other Non-Current Assets (Unsecured - Considered Good) Sundry Recoverable 11,351 25,247

Fixed Deposits- Maturity period beyond 12 Months 58,00,000 1,61,79,237

58,11,351 1,62,04,484

11 Inventories (Valued at lower of cost or net realisable value) Stores 3,25,753 3,19,747

Wine, Cigars, Cigarettes etc. 21,50,954 19,73,650

Empty Bottles etc. 72,832 71,263

Stock of Memorabilia etc. 1,47,143 1,95,945

26,96,682 25,60,605

12 Trade receivables (Unsecured - Considered Good) Receivable from Members:

Over six months 1,92,938 31,612 Others 1,48,45,035 1,34,65,100

1,50,37,973 1,34,96,712 Receivable from Others:

Over six months 1,23,725 80,600 Others 15,44,855 21,64,708

16,68,580 22,45,308 1,67,06,553 1,57,42,020



CIN : U91990WB1907GAP00175436

As at 31 March

2019 As at 31 March

2018` `

13 Cash and Cash EquivalentsCash and Cash Equivalents :

Cash on Hand 16,491 8,323 Bank Balances with Current Accounts 41,89,052 59,44,406 Fixed Deposits- Maturity period upto 12 Months 6,64,09,779 4,54,05,634

7,06,15,322 5,13,58,363

14 Short term loans and advances (Unsecured - Considered Good) Advance recoverable in cash or in kind or for value to be received 33,99,005 38,74,593 Prepaid Expenses 12,40,662 13,14,678 Insurance Claim Receivable 2,27,365 -

48,67,032 51,89,271

15 Other Current AssetsInterest Accrued on Deposits 19,12,217 16,71,084 Interest Accrued on Bonds 9,27,442 10,47,494

28,39,659 27,18,578



CIN : U91990WB1907GAP001754 37

Year ended 31 March 2019

Year ended 31 March 2018

` `

16 SubscriptionsAnnual Subscription 17,28,038 15,78,747Monthly Subscription 1,10,08,975 1,09,93,516Life Members Subscription 1,40,000 70,000 Corporate Members Fees 76,00,000 73,00,000 Sports Lounge Subscription 26,46,539 -

2,31,23,552 1,99,42,263

17 Departmental SurplusFrom Club Premises, (Note-17A) 2,50,578 21,01,136From Coff ee Room (Note - 17B) 8,92,290 7,31,000 From Bar (Note - 17C) 23,21,520 20,26,025 From Oriental Room (Note - 17D) 11,14,495 5,60,821 From Bakery & Icecream Counter (Note - 17E) 20,98,136 19,50,640

66,77,019 73,69,622

17A Surplus from Club PremisesReceipts 99,13,009 1,13,21,704 Expenditure : Rates and taxes 2,01,312 2,01,312 Salaries, Wages and Bonus 60,84,440 56,40,645 Insurance 54,146 51,478 Contribution to Provident Fund 4,83,645 4,58,770 Contribution to Employees State Insurance 64,159 1,13,519 Repairs and Maintenance

Building 1,39,664 1,56,330 Plant & Machinery 25,631 33,680 Others 42,943 42,555

Linen - 86,011 Power & Fuel 22,30,967 23,16,216 Complementary Breakfast 1,95,496 - General Charges 1,40,028 1,20,052

96,62,431 92,20,568 Surplus 2,50,578 21,01,136



CIN : U91990WB1907GAP00175438

Year ended31 March 2019


` `

17B Surplus from Coff ee RoomReceipts 4,16,34,967 3,75,86,503 Expenditure : Consumption

Opening Stock 2,22,556 7,92,859 Add : Purchases 1,96,44,990 1,69,44,395

1,98,67,546 1,77,37,254 Less : Closing Stock 2,27,136 2,22,556

1,96,40,410 1,75,14,698 Salaries, Wages and Bonus 1,67,59,013 1,46,79,836 Contribution to Provident Fund 13,10,383 11,48,210 Contribution to Employees State Insurance 1,76,598 3,97,610 Power & Fuel 25,03,508 24,13,284 Tablewares 76,800 2,28,739 Repairs and Maintenance

Building 91,974 61,912 Plant & Machinery 41,463 64,349 Others 24,916 15,201

Linen 30,617 2,58,565 Miscellaneous 86,994 73,099

4,07,42,677 3,68,55,503 Surplus 8,92,290 7,31,000

17C Surplus from BarReceipts 2,68,97,402 2,44,62,110 Expenditure : Consumption:

Opening Stock 19,73,650 23,59,602 Add: Purchases 1,54,48,547 1,39,62,230

1,74,22,197 1,63,21,832 Less :Closing Stock 21,50,954 19,73,650

1,52,71,243 1,43,48,182 Salaries, Wages and Bonus 55,24,662 53,33,435 Contribution to Provident Fund 4,52,949 4,60,497 Contribution to Employees State Insurance 98,705 1,20,505 Power & Fuel 12,38,928 12,86,272 Tableware 78,037 76,241 Repairs & Maintenance


Literage Fees 11,00,000 3,20,000 Miscellaneous 6,74,698 3,54,540

2,45,75,882 2,24,36,085 Surplus 23,21,520 20,26,025



CIN : U91990WB1907GAP001754 39



` `

17D Surplus from Oriental RoomReceipts 1,50,90,995 1,30,10,138 Expenditure : Consumption 61,76,807 49,84,655 Salaries, Wages and Bonus 55,19,454 51,03,461 Contribution to Provident Fund 4,65,250 4,47,666 Contribution to Employees State Insurance 93,448 2,24,036 Tableware 89,785 48,184 Power & Fuel 15,19,787 15,32,580 Linen - - Repairs & Maintenance


1,39,76,500 1,24,49,317 Surplus 11,14,495 5,60,821

17E Surplus from Bakery & Ice Cream CounterReceipts Bakery Counter 67,50,232 59,83,786 Ice Cream Counter 10,40,779 10,21,300

77,91,011 70,05,086 Expenditure : Consumption 38,23,856 34,27,988 Salaries, Wages and Bonus 17,45,657 14,74,521 Contribution to Provident Fund 72,292 58,711 Contribution to Employees State Insurance 19,107 16,827 Power & Fuel 12,000 12,000 Repairs & Maintenance

Building 12,000 40,025 Plant & Machinery 3,250 23,504 Others 4,713 870

56,92,875 50,54,446 Surplus 20,98,136 19,50,640



CIN : U91990WB1907GAP00175440



` `

18 Other IncomeInterest (Gross) :

On Fixed Deposit with Bank 47,29,065 48,62,986 On Bond (Tax Free) 20,36,216 20,48,459 On Bond 14,34,687 11,96,613 On Security Deposit with CESC 1,34,642 1,28,310

Hire of Guest Rooms Charges 85,33,575 75,20,435 Business Centre 4,71,550 5,08,300 Cover Charges 21,62,057 22,33,794 Miscellaneous income 26,10,924 22,70,594

2,21,12,716 2,07,69,491



CIN : U91990WB1907GAP001754 41




` `

19 Administrative Expenses GeneralEmployment Cost and benefi t : Salaries, Wages and Bonus 1,58,02,588 1,33,51,165 Contribution to Provident Fund 11,01,556 10,63,897 Contribution to Employees State Insurance 74,741 1,60,035 Gratuity 38,05,706 20,27,810 Leave Encashment 19,67,644 20,34,309 Staff Welfare 49,74,584 48,72,991 Staff Uniforms 4,77,801 13,98,779 Conveyance 73,60,683 72,17,261

3,55,65,303 3,21,26,247 Repair and Maintenance : Building 7,74,255 3,53,259 Plant & Machinery 3,55,762 10,20,645 Others 4,17,373 5,84,668

15,47,390 19,58,572 Other Expenditure : Library 3,15,097 2,74,036 Power & Fuel 15,81,326 16,35,849 Insurance 54,146 51,480 Stationery & Printing 9,63,248 4,08,157 Postage & Telephone 12,59,375 9,67,791 Professional Fees 4,16,623 5,54,731 Audit Fees 2,00,000 2,00,000 Loss on Exchange Fluctuation 12,802 24,977 Loss on Sale/Discard of assets 1,64,095 1,65,354 Service Tax paid 3,90,553 - Bad Debts 1,112 61,029 Loss on Redemption of Investments 48,966 4,20,111 Miscellaneous Expenses 20,78,557 19,52,473

74,85,900 67,15,988 4,45,98,592 4,08,00,807

20 Depreciation And Amortisation ExpensesTangible Assets 50,76,866 48,01,427 Intangible Assets 1,27,006 2,49,806

52,03,872 50,51,233


CIN : U91990WB1907GAP00175442

21. Contingent Liabilities

Claims against the Club not acknowledged as debts in respect of :

a) The Club received a demand for property tax from Kolkata Municipal Corporation (KMC) and the amount outstanding (including principal, penalty, Interest) as on 31 March 2018 for Rs. 37,09,765/-against which appeal has not been disposed off .The Hon’ble Calcutta High Court, vide its Order dated 13 December 2005, had delivered its decision in favour of the Club against Writ Petition by which the constitutional validity of levying commercial surcharge for the Club’s premises was challenged, being used not for any non-residential or commercial purpose. However, the Kolkata Municipal Corporation (KMC) has preferred an appeal against the said Order at a Division Bench of the Hon’ble Calcutta High Court. In view of this, amounts paid to KMC on diff erent occasions aggregating to ` 13,03,845/- (Previous Year - ` 13,03,845/-) , net of liabilities ` 3,12,090/- (Previous Year – ` 3,12,090/-) , is being refl ected as an advance. In view of KMC’s appeal against the aforesaid Order, commercial surcharge amounting to ` 7,83,360/- (Previous year - ` 7,83,360/-) , net of payment in earlier years under protest amounting to ` 2,76,480/- (Previous Year – ` 2,76,480) , has not been recognized in these accounts. The appeal has not yet been disposed off .

b) The Club had received demands aggregating to ` 74,15,402/- (Previous Year – ` 74,15,402/) from West Bengal Sales Tax Authorities for the period from 1st April 2000 to 31st March 2003. The said demands were made on account of Sales Tax payable on sale of food to the Permanent Members of the Club during that period. The Club has preferred appeals before the Assistant Commissioner, Commercial Taxes, South Circle, Kolkata, against such levy. However, the Club has deposited ` 75,19,843/- (Previous Year – ` 75,19,843/-) under protest with the Sales Tax Authorities against the demands which have been refl ected as long term advance in the accounts pending disposal of the appeals.

The Hon’ble Calcutta High Court in its judgement dated 16th May 2008, in one of the Clubs of Kolkata case, confi rmed against the order of the West Bengal Sales Tax Tribunal, holding the sale of food to the Permanent Members of the Club is exempted from levy of any Sales Tax. The Club has written to the Sales Tax Authorities for immediate disposal of appeals and for refund of the amounts already paid for the above mentioned years in view of that judgement.

c) The Club has received orders raising demands aggregating to ` 3,03,93,835/- (Sales Tax `

2,23,62,454, Interest ` 63,31,381/- and Penalty ` 17,00,000/-) from Sales Tax Authorities for the period 2009-2010 to 2015-2016. The said demand were made on account of diff erence between amount collected from Members and MRP/purchase price of Foreign liquor. The Club is contesting such demands and has preferred appeal/revision before Senior Joint Commissioner of Commercial Taxes/Appellate & Revisional Board.

d) Consequent to a Service Tax audit conducted for the period October 2013 to June 2017, the Club has received a show cause cum demand notice dated 12th Apr, 2019 issued by the Joint Commissioner of Central Tax , Kolkata Audit -1 (CGST & CX) Commissionerate, for an amount of Rs. 1,34,75,465/- mainly with reference to Rule 6 of the CENVAT Credit Rules , 2004 . The Club is



CIN : U91990WB1907GAP001754 43

Notes to the Financial Statement (Contd.) in the process of preparing its reply to the said notice.

e) There are demands on account of Sales Tax, Kolkata Municipal Corporation and Income Tax

amounting to ` 26.47 lakhs (Previous Year – ` 26.47 lakhs) , ` 6.41 lakhs (Previous Year – ` 6.41 lakhs) and ` 0.16 lakhs (Previous Year – ` 0.16 lakhs) respectively against which the Club has preferred appeals.

22. Disclosure of actuarial assumptions made by Life Insurance Corporation of India in accordance with the requirements of Accounting Standard 15 (Revised) :

Gratuity:

a) Mortality Rate : LIC (2006-08) ultimate;b) Withdrawal Rate : 1% to 3% depending on agec) Discount Rate: 7.5% p.a.d) Salary Escalation : 3%

Leave Encashment:

e) Discount Rate 7.60%f) Future Salary Increase 2% p.a.g) Withdrawal Rate 2% p.a.h) Mortality Rate : IALM 2006-08 ultimate

23. Trade receivable include amounts due from Committee Members and Secretary as on 31st March 2019 ` 5,67,268/- (Previous Year – ` 8,55,956/-) .

24. There are no micro, small and medium enterprises, as required to be disclosed under “The Micro Small and Medium Enterprise Development Act, 2006” identifi ed by the Club on the basis of available information.

25. Provision for deferred taxation has not been recognised in these accounts, as there were no timing diff erences between taxable and accounting income as at the Balance Sheet date.

26. Earnings in foreign currencies during the year on account of Members’ subscription/other charges and Credit Card settlements – ` 29,74,805/- (Previous year – ` 35,73,415/-) .

27. The Club is a Small and Medium-sized Company (SMC) , as defi ned in the Companies (Accounting Standards) Rules 2006. Accordingly the Club is exempted from certain disclosures like Retirement Benefi ts disclosures and has complied with the relevant Accounting Standards, as applicable to a SMC.


CIN : U91990WB1907GAP00175444

28 Additional Information as required by Part II of Schedule III to the Statement of Income & Expenditure: Year ended

31 March 2019 Year ended

31 March 2018` `

INCOME Gross Departmental Receipts: 10,13,27,384 9,33,85,541 EXPENSES Gross Departmental Consumption: 4,49,12,316 4,02,75,523 Employees Cost & Benefi ts:Salaries ,Wages & Bonus 5,14,35,814 4,55,83,063 Contribution to Provident and Other Funds 82,18,539 66,98,093 Leave Enchashment 19,67,644 20,34,309 Staff Welfare 54,52,385 62,71,770 Conveyance Exp 73,60,683 72,17,261

7,44,35,065 6,78,04,495 Power & Fuel: 90,86,515 91,96,201 Repair & Maintenace :

Building 11,45,788 7,60,218 Plant & Machinery 5,03,163 12,06,288 Others 5,33,622 6,75,640

21,82,573 26,42,146

29 Previous year fi gures have been regrouped and re-arranged, wherever necessary.

For THE BENGAL CLUB LIMITED

Signature to note 1 to 29 of the Financial Statements




Documents

The Bengal Club Annual Report Inside 2019 exp · Ambarish Dasgupta Anjan Chatterjee* Avijit Mukerji+ Jayanti Prasad Khaitan Kunal Sen Nandini Ray++ Partha Ranjan Das Sandip Chatterjee