Mar 31, 2015
1.1 BASIS OF ACCOUNTING AND PREPARATION OF FINANCIAL STATEMENTS
The financial statements are prepared under the historical cost
convention, in accordance with applicable accounting standards notified
by the companies (Accounting Standards) Rules, 2006 and the relevant
provisions of the Companies Act,1956.
1.2 FIXED ASSETS
No Fixed Assets during the year under review.
1.3 DEPRECIATION / AMORTISATION
Depreciation on Fixed Assets is provided on Written Down Value Method
at the rate and in the manner prescribed under the Schedule XIV to the
Companies Act, 1956.
1.4 INVESTMENTS
Long-term Investments are stated at cost. Provision for diminution in
the value of long-term investments is made only if such a decline is
other than temporary in the opinion of the management.
1.5 REVENUE RECOGNITION
Other Income are accounted on accrual basis.
1.6 STOCK ON HIRE
Stock on hire is stated at realisable value after providing for
doubtful.
1.7 IMPAIRMENT
An asset is treated as Impaired when the carrying cost of assets
exceeds its recoverable value. An impairment loss is charged to the
Profit & Loss Account in the year in which an asset is identified as
impaired. The impairment loss recognised in prior accounting periods is
reversed if there has been a change in the estimate of recoverable
amount.
1.8 PROVISIONS AND CONTINGENT LIABILITIES
A provision is recognized when there is a present obligation as a
result of past events for which it is probable that an outflow of
resources will be required to settle the obligation and in respect of
which a reliable estimate can be made. These are reviewed at each
balance sheet date and adjusted to reflect the current best estimates.
Contingent liabilities are disclosed after an evaluation of the facts
and legal aspects of the matters involved.
Mar 31, 2014
1.1 BASIS OF ACCOUNTING AND PREPARATION OF FINANCIAL STATEMENTS
The financial statements are prepared under the historical cost
convention, in accordance with applicable accounting standards notified
by the companies (Accounting Standards) Rules, 2006 and the relevant
provisions of the Companies Act, 1956.
1.2 FIXED ASSETS
Fixed Assets are stated at cost less accumulated depreciation.
1.3 DEPRECIATION / AMORTISATION
Depreciation on Fixed Assets is provided on Written Down Value Method
at the rate and in the manner prescribed under the Schedule XIV to the
Companies Act, 1956.
1.4 INVESTMENTS
Long-term Investments are stated at cost. Provision for diminution in
the value of long-term investments is made only if such a decline is
other than temporary in the opinion of the management.
1.5 REVENUE RECOGNITION
Other Income are accounted on accrual basis.
1.6 STOCK ON HIRE
Stock on hire is stated at realisable value after providing for
doubtful.
1.7 IMPAIRMENT
An asset is treated as Impaired when the carrying cost of assets
exceeds its recoverable value. An impairment loss is charged to the
Profit & Loss Account in the year in which an asset is identified as
impaired. The impairment loss recognised in prior accounting periods is
reversed if there has been a change in the estimate of recoverable
amount.
1.8 PROVISIONS AND CONTINGENT LIABILITIES
A provision is recognized when there is a present obligation as a
result of past events for which it is probable that an outflow of
resources will be required to settle the obligation and in respect of
which a reliable estimate can be made. These are reviewed at each
balance sheet date and adjusted to reflect the current best estimates.
Contingent liablities are disclosed after an evaluation of the facts
and legal aspects of the matters involved.
Mar 31, 2013
1.1 BASIS OF ACCOUNTING AND PREPARATION OF FINANCIAL STATEMENTS
The financial statements are prepared under the historical cost
convention, in accordance with applicable accounting standards notified
by the Companies (Accounting Standards) Rules, 2006 and the relevant
provisions of the Companies Act, 1956.
1.2 FIXED ASSETS
Fixed Assets are stated at cost less accumulated depreciation.
1.3 DEPRECIATION / AMORTISATION
Depreciation on Fixed Assets is provided on Written Down Value lyiethod
at the rate and in the manner prescribed under the Schedule XIV to the
Companies Act, 1956.
1.4 INVESTMENTS
Long-term Investments are stated at cost. Provision for diminution in
the value of long-term investments is made only if such a decline is
other than temporary in the opinion of the management.
1.5 REVENUE RECOGNITION
Other Income are accounted on accrual basis.
1.6 STOCK ON HIRE
Stock on hire is stated at realizable value after providing for
doubtful.
1.7 IMPAIRMENT
An asset is treated as Impaired when the carrying cost of assets
exceeds its recoverable value. An impairment loss is charged to the
Profit & Loss Account in the year in which an asset is identified as
impaired. The impairment loss recognized in prior accounting periods is
reversed if there has been a change in the estimate of recoverable
amount.
1.8 PROVISIONS AND CONTINGENT LIABILITIES
A provision is recognized when there is a present obligation as a
result of past events for which it is probable that an outflow of
resources will be required to settle the obligation and in respect of
which a reliable estimate can be made. These are reviewed at each
balance sheet date and adjusted to reflect the current best estimates.
Contingent liabilities are disclosed after an evaluation of the facts
and legal aspects of the matters involved.
Mar 31, 2012
1.1 BASIS OF ACCOUNTING AND PREPARATION OF FINANCIAL STATEMENTS
The financial statements are prepared under the historical cost
convention, in accordance with applicable accounting standards notified
by the companies (Accounting Standards) Rules, 2006 and the relevant
provisions of the Companies Act, 1956.
1.2 FIXED ASSETS
Fixed Assets are stated at cost less accumulated depreciation.
1.3 DEPRECIATION/AMORTISATION
Depreciation on Fixed Assets is provided on Written Down Value Method
at the rate and in the manner prescribed under the Schedule XIV to the
Companies Act, 1956.
1.4 INVESTMENTS
Long-term Investments are stated at cost. Provision for diminution in
the value of long-term investments is made only if such a decline is
other than temporary in the opinion of the management.
1.5 REVENUE RECOGNITION
Other Income are accounted on accrual basis.
1.6 STOCK ON HIRE
Stock on hire is stated at realisable value after providing for
doubtful.
1.7 IMPAIRMENT
An asset is treated as Impaired when the carrying cost of assets
exceeds its recoverable value. An impairment loss is charged to the
Profit & Loss Account in the year in which an asset is identified as
impaired. The impairment loss recognised in prior accounting periods is
reversed if there has been a change in the estimate of recoverable
amount.
1.8 PROVISIONS AND CONTINGENT LIABILITIES
A provision is recognized when there is a present obligation as a
result of past events for which it is probable that an outflow of
resources will be required to settle the obligation and in respect of
which a reliable estimate can be made. These are reviewed at each
balance sheet date and adjusted to reflect the current best estimates.
Contingent liabilities are disclosed after an evaluation of the facts
and legal aspects of the matters involved.
Mar 31, 2010
A. Accounting Convention The financial statements are prepared under
the historical cost convention, in accordance with applicable
accounting standards notified by the Companies (Accounting Standards)
Rules, 2006 and the relevant provisions of the Companies Act, 1956.
b. Fixed Assets Fixed Assets are stated at cost less accumulated
depreciation.
c. Depreciation Depreciation on Fixed Assets is provided on written
down value method at the rate and in the manner prescribed under the
Schedule XIV to the Companies Act, 1956.
d. Investments Long Term Investments are stated at cost. Provision for
diminution in the value of long term investments is made only is such a
decline is other than temporary in the opinion of the management.
e. Revenue Recognition Other Income is accounted on accrual basis.
f. Stock on Hire Stock on hire is stated at realisable value after
providing for doubtful.
g. Impairment An asset is treated as impaired when the carrying cost
of assets exceeds its recoverable value. An impairment loss is charged
to the Profit & Loss Account in the year in which an asset is
identified as impaired. The impairment loss recognized in prior
accounting periods is reversed if there has been a change in the
estimate of recoverable amount.
h. Provisions and Contingent Liabilities A Provision is recognized
when there is a present obligation as a result of past events for which
it is probable that an outflow of resources will be required to settle
the obligation and in respect of which a reliable estimate can be made.
These are reviewed at each balance sheet date and adjusted to reflect
the current best estimates. Contingent liabilities are disclosed after
an evaluation of the facts and legal aspects of the matters involved.
Mar 31, 2009
1. Accounting Convention
The accounts have been prepared under historical cost convention, under
the accrual method of accounting.
2. Revenue Recognition
Income is recognised on accrual basis.
3. Fixed Assets & Depreciation
Depreciation on Fixed Assets is provided on written down value method
at the rate and in the manner prescribed under the Schedule XIV to the
Companies Act, 1956.
4. Investments & Current Assets
Investments are stated after providing for loss in diminution.
5. Stock on Hire, Receivables, Loans & Advances
Stock on hire, receivables, loans and advances are stated at realisable
value after providing for doubtful.
6. Receivables, Loans & Advances
Receivables, loans and advances if identified as irrecoverable or
doubtful, are written off or provided for.
7. Employee Retirement Benefit
Not applicable as there is no employee in the pay roll of the Company.