Mar 31, 2014
I) Basis of Preparation of Financial Statement:
The financial statements have been prepared using historical cost
convention and on the of going concern in accordance with generally
accepted principles in India, Accounting standars notified under
Section 211(3C) of the Companies Act, 1956 and otherrelevant provisions
of the Companies Act, 1956.
ii) Use of Estimates:
The preparation of financial statements requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities on the financial statements and the reported amount of
revenues and expenses during the reporting period. Difference Between
the actual result and estimates are recognized in the period in which
the result are known / materialized.
iii) Revenue Recognition:
'' All revenue and expenses are accounted for on accrual basis. Revenue
in recognized when no significant uncertainites exist in relation to
the amount of eventual receipt.
(a) Sales are recognized on dispatch of goods to customers.
iv) Fixed Assets:
Fixed assets are stated at their original cost of acquisition /
installation, net of accumulated despreciation. amortization and
impairment losses.
v) Depreciation and Amortization:
Depreciation is provided on the "written Down Value Method" in the
manner and at the rates specified in schedule XIV of the Companies Act,
1956 as specified in the accounting policies.
vi) Investments:
Long Term Investments are valued at cost. Provision for diminution in
value is made only if in the opinion of management such a decline is
other than temporary.
vii) Provision and Contingencies:
Provision is recognized when there is a present obligation as a result
of past event that prbably requires an outflow of resources and a
reliable estimate can be made of the amount of the obligation. A
disclosure on contingent liability is made when there is a possible
obligation or present obligation that probably will not require an out
flow of resources or where reliable estimate of the amount of the
obligation cannot be made. However contingent assets are neither
provided for nor disclosed.
vill) Lease Accounting: 1
Leasing of assets whereby the lessor essentially remains the owner of
the asset are classified as operting leases. Therefore Income from
such lease is credited to Profit & loss Account.
1. Convention:
The Financial statements have been prepared under the historical cost
convention in accordance with the applicable Accounting standards and
relevant Presentational requirements of the Companies Act, 1956.
2. Fixed Assets:
Fixed Assets (other than those which have been revalued) are stated at
their original cost. In the case of revalued assets, the book value is
inclusive of revaluation factor with corresponding credit under
Revaluation Reserve.
3. Depreciation:
Depreciation on fixed assets is charged on written down value basis in
accordance with Schedule XIV of the Companies Act, 1956. Depreciation
on revalued portion of fixed assets is charged to Revaluation Reserve.
4. Investments:
Investments are shown at cost. Dividends are accounted for when
realised.
5. Retirement Benefits:
Company''s contribution paid/payable to Provident Fund & other Funds are
charged to the Profit and Loss Account.
Mar 31, 2013
I) Basis of Preparation of Financial Statement:
The financial statements have been prepared using historical cost
convention and on the of going concern in accordance with generally
accepted principles in India, Accounting standars notified under
Section 211(3C) of the Companies Act, 1956 and other relevant
provisions of the Companies Act, 1956.
ii) Use of Estimates:
The preparation of financial statements requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities on the financial statements and the reported amount of
revenues and expenses during the reporting period. Difference Between
the actual result and estimates are recognized in the period in which
the result are known / materialized.
iii) Revenue Recognition:
All revenue and expenses are accounted for on accrual basis. Revenue in
recognized when no significant uncertainites exist in relation to the
amount of eventual receipt.
(a) Sales are recognized on dispatch of goods to customers.
iv) Fixed Assets:
Fixed assets are stated at their original cost of acquisition /
installation, net of accumultated despreciation. amortization and
impairment losses.
v) Depreciation and Amortization:
Depreciation is provided on the "written Down Value Method" in the
manner and at the rates specified in schedule XIV of the Companies Act,
1956 as specified in the accounting policies.
vi) Investments:
Long Term Investments are valued at cost. Provision for diminution in
value is made only if in the opinion of management such a decline is
other than temporary.
vii) Provision and Contingencies:
Provision is recognized when there is a present obligation as a result
of past event that prbably requires an outflow of resources and a
reliable estimate can be made of the amount of the obligation. A
disclosure on contingent liability is made when there is a possible
obligation or present obligation that probably will not require an out
flow of resources or where reliable estimate of the amount of the
obligation cannot be made. However contingent assets are neither
provided for nor disclosed.
vill) Lease Accounting:
Leasing of assets whereby the lessor essentially remains the owner of
the asset are classified as operting leases. Therefore Income from
such lease is credited to Profit & loss Account.
1. Convention :
The Financial statements have been prepared under the historical cost
convention in accordance with the applicable Accounting standards and
relevant presentational requirements of the Companies Act, 1956.
2. Fixed Assets:
Fixed Assets (other than those which have been revalued) are stated at
their original cost. In the case of revalued assets, the book value is
inclusive of revaluation factor with corresponding credit under
Revaluation Reserve.
3. Depreciation:
Depreciation on fixed assets is charged on written down value basis in
accordance with Schedule XIV of the Companies Act, 1956. Depreciation
on revalued portion of fixed assets is charged to Revaluation Reserve.
4. Investments:
Investments are shown at cost. Dividends are accounted for when
realised.
5. Retirement Benefits:
Company''s contribution paid/payable to Provident Fund & other Funds are
charged to the Profit and Loss Account.
Mar 31, 2012
I) Basis of Preparation of Financial Statements :
The financial statements have been prepared using historical cost
convention and on the basis of going concern in accordance with
generally accepted accounting principles in India, Accounting standards
notified under Section 211(3C) of the Companies Act, 1956 and other
relevant provisions of the Companies Act, 1956.
ii) Use of Estimates :
The preparation of financial statements requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities on the date of the financial statements and the reported
amount of revenues and expenses during the reporting period. Difference
Between the actual result and estimates are recognized in the period in
which trie result are known /materialized.
iii) Revenue Recognition:
All revenue and expenses are accounted for on accrual basis. Revenue is
recognized when no significant uncertainties exist in relation to the
amount of eventual receipt. (a) Sales are recognized on dispatch of
goods to customers
iv) Fixed Assets :
Fixed assets are stated at their original cost of acquisition /
installation, net of accumulated despreciation, amortization and
impairment losses.
v) Depreciation and Amortization :
Depreciation is provided on the "written Down Value Method" in the
manner and at the rates specified in schedule XIV of the Comoanies Act,
1956 as specified in the accounting policies
vi) Investments :
Long Term Investments are valued at cost. Provision for diminution in
value is made only if in the opinion of management such a decline is
other than temporary.
vii) Provision and Contingencies:
Provision is recognized when there is a present obligation as a result
of past event that prbably requires an outflow of resources and a
reliable estimate can be made of the amount of the obligation. A
disclosure on contingent liability is made when there is a possible
obligation or present obligation that probably will not require an out
flow of resources or where reliable estimate of the amount of the
obligation cannot be made. However contingent assets are neither
provided for nor disclosed.
viii) Earning Per Share :
Calaulation of Earning Per shar is not applicable as company has
incurred losses in the current year.
ix) Lease Accounting:
Leasing of assets whereby the lessor essentially remains the owner of
the asset are classified as operating leases. Therefore Income from
such lease is credited to Profit & loss Account.
1 Convention :
The Financial statements have been prepared under the historical cost
convention in accordance with the applicable Accounting standards and
relevant presentational require- ments of the Companies Act, 1956.
2. Fixed Assets :
Fixed Assets (other than those which have been revalued) are stated at
their original cost. In the case of revalued assets, the book value is
inclusive of revaluation factor with corresponding credit under
Revaluation Reserve.
3. Depreciation :
Depreciation on fixed assets is charged on written down value basis in
accordance with Schedule XIV of the Companies Act, 1956. Depreciation
on revalued portion of fixed assets is charged to Revaluation Reserve.
4. Investments :
Investments are shown at cost. Dividends are accounted for when
realised.
5. Retirement Benefits :
Company's contribution paid/payable to Provident Fund & other Funds are
charged to the Profit and Loss Account.
Mar 31, 2010
1. Convention:
The Financial statements have been prepared under the historical cost
convention in accordance with the applicable Accounting standards and
relevant presentational requirements of the Companies Act, 1956.
2. Fixed Assets:
Fixed Assets (other than those which have been revalued) are stated at
their original cost. In the case of revalued assets, the book value is
inclusive of revaluation factor with corresponding credit under
Revaluation Reserve.
3. Depreciation:
Depreciation on fixed assets is charged on written down value basis in
accordance with Schedule XIV of the Companies Act, 1956. Depreciation
on revalued portion of fixed assets is charged to Revaluation Reserve.
4. Investments:
Investments are shown at cost. Dividends are accounted for when
realised.
5. Retirement Benefits:
Companys contribution paid/payable to Provident Fund & other Funds are
charged to the Profit and Loss Account.