Mar 31, 2015
(i) Basis for preparation of Financial Statements
accordance with the applicable requirements of the Companies Act, 2013
(the 'Act') ard comply in all material aspects with the Accounting
Standards prescribed by the Central Government, in accordance with the
Companies (Accounting Standards) Rules, 2006 as adopted consistently by
the company, to the extent applicable.
The presentation of financial statements in conformity with GAAP
requires management of the Company to make estimates and assumptions
that affect the amounts reported in the financial statements and
accompanying notes. Although these estimates are based on management's
best knowledge of current events and actions the company may undertake
in future, actual results ultimately may differ from the estimates.
(ii) Revenue recognition
The Company derives its revenue from the operations of LED Lights,
Signages and NBFC The revenue from its operations is recorded on
accrual basis.
(iii) Expenditure
Expenses are accounted for on accrual basis and provisions are made for
all known losses and liabilities.
(iv) Fixed assets/ Depreciation & Amortization
Fixed assets are stated at cost less accumulated depreciation and
impairment loss, if any. Costs include all expenses incurred to bring
the assets to its present location and condition for its intended use.
Schedule XIV to the Companies Act, 2013. Depreciation on addition to
fixed assets is provided on pro-rata basis from the date the assets are
put to use. Depreciation on sale / deduction from fixed assets is
provided for up to the date of sale, deduction, discardment as the case
may be.
Assets costing less than Rs. 5,000 are fully depreciated in the year of
purchase except in case of deployment as project assets (if any)
Intangible Assets
An Intangible asset is recognized, where it is probable that the future
economic benefits attributable to the asset will flow to the enterprise
and where it its cost can be reliably measured.
Intangible asset are stated at cost of acquisition less accumulated
amortization. Amortization on the Intangible assets is provided at the
written down value method at the rates and in the manner prescribed in
Schedule XIV to the Companies Act, 1956. Depreciation on addition to
fixed assets is provided on pro-rata basis from the date the assets are
put to use. Depreciation on sale / deduction from fixed assets is
provided for up to the date of sale, deduction, discardment as the case
may be.
(v) Impairment of Assets
any events or changes in circumstances which might indicate that the
carrying amount may not be recoverable as per the provisions of
applicable Accounting standards. If such indication exists the
recoverable amount of the asset is estimated in order to determine the
extent of impairment loss. The recoverable amount is higher of asset's
net selling price and value in use which means the present value of
future cash flows expected to arise form the continuing use of the
asset and its eventual disposal. An Impairment loss is charged to the
profit & loss account in the year in which an asset is impaired.
Reversal of impairment loss is recognized immediately as income in the
Profit & loss account.
Short term employee benefits are recognized in the period during which
the services have been rendered.
(vii) Provision for tax
Tax expense for the year comprises current and deferred is included in
determining the net profit for the year.
Provision for current tax is based on the tax liabilities computed in
accordance with the provisions of the Income Tax Act, 1961.
Deferred Tax expense or benefit is recognized on timing Difference
between accounting and taxable income that originates in one year and
are capable of reversal in one or more subsequent period. Deferred tax
assets and liabilities are measured using the tax rates and laws that
are enacted or substantively enacted by the balance sheet date.
The deferred tax asset is recognized subject to principle of prudence
and conservatism and carried forward only to the extent that there is a
virtual certainty that sufficient future taxable income will be
available against which such deferred tax asset will be realized.
(viii) Provision, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognized but are disclosed in the
notes. Contingent Assets are neither recognized nor disclosed in the
financial statements.
(ix) Earning per share
Basic Earnings per share are calculated by dividing the net profit or
loss for the year attributable to equity shareholders after tax (and
including post tax effect of any extra-ordinary item) by the weighted
average number of equity shares outstanding during the year. The
weighted average number of equity shares outstanding during the period,
are adjusted for events of bonus issue to existing shareholders.
For the purpose of calculating diluted earning per share, the net
profits or loss attributable to equity shareholders and the weighted
average number of shares outstanding are adjusted for the effects of
all dilutive potential equity shares, if any.
Mar 31, 2014
(i) Basis for preparation of Financial Statements
accordance with the applicable requirements of the Companies Act, 1956
(the 'Act') and comply in all material aspects with the Accounting
Standards prescribed by the Central Government, in accordance with the
Companies (Accounting Standards) Rules, 2006 as adopted consistently by
the company, to the extent applicable.
assumptions that affect the amounts reported in the financial
statements and accompanying notes. Although these estimates are based
on management's best knowledge of current events and actions the
company may undertake in future, actual results ultimately may differ
from the estimates.
(ii) Revenue recognition
The Company derives its revenue from the operations of LED Lights,
Signages and NBFC The revenue from its operations is recorded on
accrual basis.
(iii) Expenditure
Expenses are accounted for on accrual basis and provisions are made for
all known losses and liabilities.
(iv) Fixed assets/ Depreciation & Amortization
Fixed assets are stated at cost less accumulated depreciation and
impairment loss, if any. Costs include all expenses incurred to bring
the assets to its present location and condition for its intended use.
in Schedule XIV to the Companies Act, 1956. Depreciation on addition to
fixed assets is provided on pro-rata basis from the date the assets are
put to use. Depreciation on sale / deduction from fixed assets is
provided for up to the date of sale, deduction, discardment as the case
may be.
any)
Intangible Assets
An Intangible asset is recognized, where it is probable that the future
economic benefits attributable to the asset will flow to the enterprise
and where it its cost can be reliably measured.
Intangible asset are stated at cost of acquisition less accumulated
amortization. Amortization on the Intangible assets is provided at the
written down value method at the rates and in the manner prescribed in
Schedule XIV to the Companies Act, 1956. Depreciation on addition to
fixed assets is provided on pro-rata basis from the date the assets are
put to use. Depreciation on sale / deduction from fixed assets is
provided for up to the date of sale, deduction, discardment as the case
may be.
(v) Impairment of Assets
determine any events or changes in circumstances which might indicate
that the carrying amount may not be recoverable as per the provisions
of applicable Accounting standards. If such indication exists the
recoverable amount of the asset is estimated in order to determine the
extent of impairment loss. The recoverable amount is higher of asset's
net selling price and value in use which means the present value of
future cash flows expected to arise form the continuing use of the
asset and its eventual disposal. An Impairment loss is charged to the
profit & loss account in the year in which an asset is impaired.
Reversal of impairment loss is recognized immediately as income in the
Profit & loss account.
Short term employee benefits are recognized in the period during which
the services have been rendered.
(vii) Provision for tax
Tax expense for the year comprises current and deferred is included in
determining the net profit for the year.
Provision for current tax is based on the tax liabilities computed in
accordance with the provisions of the Income Tax Act, 1961.
Deferred Tax expense or benefit is recognized on timing Difference
between accounting and taxable income that originates in one year and
are capable of reversal in one or more subsequent period. Deferred tax
assets and liabilities are measured using the tax rates and laws that
are enacted or substantively enacted by the balance sheet date.
The deferred tax asset is recognized subject to principle of prudence
and conservatism and carried forward only to the extent that there is a
virtual certainty that sufficient future taxable income will be
available against which such deferred tax asset will be realized.
(viii) Provision, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognized but are disclosed in the
notes. Contingent Assets are neither recognized nor disclosed in the
financial statements.
(ix) Earning per share
(and including post tax effect of any extra-ordinary item) by the
weighted average number of equity shares outstanding during the year.
The weighted average number of equity shares outstanding during the
period, are adjusted for events of bonus issue to existing
shareholders.
For the purpose of calculating diluted earning per share, the net
profits or loss attributable to equity shareholders and the weighted
average number of shares outstanding are adjusted for the effects of
all dilutive potential equity shares, if any.
Schedule no. 1-21 forms the part of the Balance Sheet and Profit and
Loss A/c
Mar 31, 2013
(i) Basis for preparation of Financial Statements
with the applicable requirements of the Companies Act, 1956 (the 'Act')
and comply in all material aspects with the Accounting Standards
prescribed by the Central Government, in accordance with the Companies
(Accounting Standards) Rules, 2006 as adopted consistently by the
company, to the extent applicable.
The presentation of financial statements in conformity with GAAP
requires management of the Company fo make estimates and assumptions
that affect the amounts reported in the financial statements and
accompanying notes. Although these estimates are based on managements
best knowledge of current events and actions the company may undertake
in future, actual results ultimately may differ from the estimates. .
(ii) Revenue recognition
The Company derives its revenue from the operations of LED Lights,
Signages and NBFC
The revenue from its operations is recorded on accrual basis, -
(iii) Expenditure
Expenses are accounted for on accrual basis and provisions are made for
all known losses and liabilities.
(iv) Fixed assets/ Depreciation & Amortization
fixed assets are stated at cost less accumulated depreciation and
impairment loss, if any. Costs include all expenses incurred to bring
the assets to its present location and condition for its intended use.
Depreciation on other tangible fixed assets is provided at the written
down value method at the rates and in the manner prescribed in Schedule
XiV to the Companies Act, 1956. Depreciation on addition to fixed
assets is provided on pro-rata basis from the date the assets are put
to Use- Depreciation on sale / deduction from fixed assets is provided
for up to the date of sale, deduction, discardment as the case may be.
Assets costing less than Rs. 5,000 are fully depreciated in the year of
purchase except in case of deployment as project assets (if any)
Intangible Assets
An Intangible asset is recognized, where it is probable that the future
economic benefits attributable to the asset will flow to the enterprise
and where it its cost can be reliably measured.
Intangible asset are stated at cost of acquisition less accumulated
amortization. Amortization on the Intangible assets is provided at the
written down value method at the rates and in the manner prescribed in
Schedule XIV to the Companies Act, 1956. Depreciation on addition to
fixed assets is provided on pro-rata basis from the date the assets are
put to use. Depreciation on sale / deduction from fixed assets is
provided for jc to the date of sale, deduction, discardment as the case
may be.
v) Impairment of Assets
Events or changes in circumstances which might indicate that the
carrying amount may not be recoverable as per the provisions of
applicable Accounting standards. If such indication exists the
recoverable amount of the asset is estimated in order to determine the
extent of moairment loss. The recoverable amount is higher of asset's
net selling price and value in use which means the present value of
future cash flows expected to arise form the continuing use of the asset
and its eventual disposal. An Impairment loss is charged to the profit &
loss account in the year in which an asset is impaired.
Reversal of impairment loss is recognized immediately as income in the
Profit & loss account.
Smart term employee benefits are recognized in the period during which
the services have been rendered.
(vii) Provision for tax
Tax expense for the year comprises current and deferred is included in
determining the net profit for the year
Provision for current tax is based on the tax liabilities computed in
accordance with the provisions of the Income Tax Act, 1961.
Deferred Tax expense or benefit is recognized on timing Difference
between accounting and taxable income that originates in one year and
are capable of reversal in one or more subsequent period. Deferred tax
assets and liabilities are measured using the tax rates and laws that
are enacted or substantively enacted by the balance sheet date.
The deferred tax asset is recognized subject to principle of prudence
and conservatism and carried forward only to the extent that there is a
virtual certainty that sufficient future taxable income will be
available against which such deferred tax asset will be realized.
(viii) Provision, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognized but are disclosed in the
notes. Contingent Assets are neither recognized nor disclosed in the
financial statements.
(ix) Earning per share
Basic Earnings per share are calculated by dividing the net profit
or loss for the year attributable to equity shareholders after tax (and
including post tax effect of any extra-ordinary item) by the weighted
average number of equity shares outstanding during the year. The
weighted average number of equity shares outstanding during the period,
are adjusted for events of bonus issue to existing shareholders.
For the purpose of calculating diluted earning per share, the net
profits or loss attributable to equity shareholders and the weighted
average number of shares outstanding are adjusted for the effects of
all dilutive potential equity shares, if any.
Mar 31, 2012
(i) Basis for preparation of Financial Statements
accordance with the applicable requirements of the Companies Act, 1956
(the 'Act') and comply in all material aspects with the Accounting
Standards prescribed by the Central Government, in accordance with the
Companies (Accounting Standards) Rules, 2006 as adopted consistently by
the company, to the extent applicable.
assumptions that affect the amounts reported in the financial
statements and accompanying notes. Although these estimates are based
on management's best knowledge of current events and actions the
company may undertake in future, actual results ultimately may differ
from the estimates.
(ii) Revenue recognition
The Company derives its revenue from the operations of LED Lights,
Signages and NBFC The revenue from its operations is recorded on
accrual basis.
(iii) Expenditure
Expenses are accounted for on accrual basis and provisions are made for
all known losses and liabilities.
(iv) Fixed assets/ Depreciation & Amortization
Fixed assets are stated at cost less accumulated depreciation and
impairment loss, if any. Costs include all expenses incurred to bring
the assets to its present location and condition for its intended use.
in Schedule XIV to the Companies Act, 1956. Depreciation on addition to
fixed assets is provided on pro-rata basis from the date the assets are
put to use. Depreciation on sale / deduction from fixed assets is
provided for up to the date of sale, deduction, discardment as the case
may be.
any)
Intangible Assets
An Intangible asset is recognized, where it is probable that the future
economic benefits attributable to the asset will flow to the enterprise
and where it its cost can be reliably measured.
Intangible asset are stated at cost of acquisition less accumulated
amortization. Amortization on the Intangible assets is provided at the
written down value method at the rates and in the manner prescribed in
Schedule XIV to the Companies Act, 1956. Depreciation on addition to
fixed assets is provided on pro-rata basis from the date the assets are
put to use. Depreciation on sale / deduction from fixed assets is
provided for up to the date of sale, deduction, discardment as the case
may be.
(v) Impairment of Assets
determine any events or changes in circumstances which might indicate
that the carrying amount may not be recoverable as per the provisions
of applicable Accounting standards. If such indication exists the
recoverable amount of the asset is estimated in order to determine the
extent of impairment loss. The recoverable amount is higher of asset's
net selling price and value in use which means the present value of
future cash flows expected to arise form the continuing use of the
asset and its eventual disposal. An Impairment loss is charged to the
profit & loss account in the year in which an asset is impaired.
Reversal of impairment loss is recognized immediately as income in the
Profit & loss account.
Short term employee benefits are recognized in the period during which
the services have been rendered.
(vii) Provision for tax
Tax expense for the year comprises current and deferred is included in
determining the net profit for the year.
Provision for current tax is based on the tax liabilities computed in
accordance with the provisions of the Income Tax Act, 1961.
Deferred Tax expense or benefit is recognized on timing Difference
between accounting and taxable income that originates in one year and
are capable of reversal in one or more subsequent period. Deferred tax
assets and liabilities are measured using the tax rates and laws that
are enacted or substantively enacted by the balance sheet date.
The deferred tax asset is recognized subject to principle of prudence
and conservatism and carried forward only to the extent that there is a
virtual certainty that sufficient future taxable income will be
available against which such deferred tax asset will be realized.
(viii) Provision, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognized but are disclosed in the
notes. Contingent Assets are neither recognized nor disclosed in the
financial statements.
(ix) Earning per share
(and including post tax effect of any extra-ordinary item) by the
weighted average number of equity shares outstanding during the year.
The weighted average number of equity shares outstanding during the
period, are adjusted for events of bonus issue to existing
shareholders.
For the purpose of calculating diluted earning per share, the net
profits or loss attributable to equity shareholders and the weighted
average number of shares outstanding are adjusted for the effects of
all dilutive potential equity shares, if any.
Schedule no. 1-21 forms the part of the Balance Sheet and Profit and
Loss A/c