| ESCORTS MUTUAL FUND | ||||||
| ESCORTS INCOME PLAN | ||||||
| REVENUE ACCOUNT FOR THE YEAR ENDED MARCH 31, 2005 | ||||||
| SCHEDULE | FOR THE YEAR ENDED | FOR THE YEAR ENDED | ||||
| MARCH 31, 2005 | MARCH 31, 2004 | |||||
| ( Rs.) | ( Rs.) | |||||
| INCOME & GAINS | ||||||
| Interest | 7 | 57,174,460 | 58,400,236 | |||
| Profit on Sale/Redemption of Investments | 9,954,099 | 7,232,834 | ||||
| (other than inter-scheme transfer/sale) | ||||||
| Profit on Inter-Scheme Transfer/Sale of Investments | 2,071,364 | 2,080,028 | ||||
| Provision no longer required written back | - | 994,569 | ||||
| Sundry Balances Written Back | 100,851 | 23,949 | ||||
| Other Income | 42,910 | 1,219,885 | ||||
| Total Income | ---------------------------- | ---------------------------- | ||||
| 69,343,684 | 69,951,501 | |||||
| ---------------------------- | ---------------------------- | |||||
| EXPENSES & LOSSES | ||||||
| Investment Management & Advisory Fees | 7,976,140 | 7,887,676 | ||||
| Loss on Sale/Redemption of Investments | 8,676,890 | 7,821,160 | ||||
| (other than inter-scheme transfer/sale) | ||||||
| Loss on Inter-Scheme Transfer/Sale of Investments | 5,756,240 | 64,000 | ||||
| Trusteeship Fees | 147,364 | 350,894 | ||||
| Audit Fees | 62,814 | 145,800 | ||||
| Custodian Fees | 309,289 | 343,220 | ||||
| Registrar's Out of pocket Expenses | 232,667 | 188,933 | ||||
| Sundry Balances Written off | 156,772 | 106,184 | ||||
| Other operating expenses | 8 | 6,917,186 | 5,715,153 | |||
| ---------------------------- | ----------------------------- | |||||
| 30,235,362 | 22,623,021 | |||||
| Less: Expenses to be Re-imbursed by Asset Management Company | 2,469,361 | 1,485,550 | ||||
| ---------------------------- | ---------------------------- | |||||
| Total Expenses | 27,766,001 | 21,137,471 | ||||
| ---------------------------- | ---------------------------- | |||||
| EXCESS OF INCOME OVER EXPENDITURE | 41,577,682 | 48,814,030 | ||||
| Net Change in Unrealised Depreciation | 9 | (4,764,518) | - | |||
| Equalisation Account | (169,157,274) | 23,981,569 | ||||
| Dividend | (4,806,178) | (5,757,925) | ||||
| ---------------------------- | ---------------------------- | |||||
| SURPLUS/ (DEFICIT) CARRIED TO BALANCE SHEET | (137,150,288) | 67,037,675 | ||||
| ---------------------------- | ---------------------------- | |||||
| Significant Accounting Policies & Notes to the Accounts | 11 | The Schedules referred to above form an integral | ||||
| part of the Revenue Account | ||||||
| Per our report of even date | ||||||
| For and on behalf of | For ESCORTS MUTUAL FUND | For ESCORTS ASSET | ||||
| S.N DHAWAN & CO. | (TRUSTEE: ESCORTS INVESTMENT TRUST LTD.) | MANAGEMENT LTD. | ||||
| Chartered Accountants | ||||||
| ( VIJAY DHAWAN ) | (RAJAN NANDA) | (LALIT K. KHANNA) | ||||
| PARTNER | CHAIRMAN | |||||