Mar 31, 2015
A) Basis of Preparation
The financial statements are prepared in accordance with Generally
Accepted Accounting Principles ("GAAP") under the historical cost
convention on an accrual basis. GAAP comprises mandatory Accounting
Standards issued by the (Companies Accounting Standards) Rules, 2006
and the relevant provisions of the Companies Act, 1956. The accounting
policies have been consistently applied by the Company, and are
consistent with those used in the previous year.
b) Use of Estimates
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of operations during the reporting
period end. Although these estimates are based upon management's best
knowledge of current events and actions, actual results could differ
from these estimates. Any revision to the accounting estimates is
recognized prospectively.
c) Investments
Investments that are specifically realized and intended to be held not
more than one year are classified as current investments. All other
investments are classified as long-term investments. Current
investments are carried at lower of cost and fair value determined on
an individual investment basis. Long-term investments are carried at
cost. However, provision for diminution in value is made to recognize a
decline other than temporary decline in the value of the investments.
As on the Balance Sheet Date, the Company is not holding any inventory
in hand. As on the Balance Sheet Date, the Company is not having any
investment.
d) Inventories
Closing Stock has been valued at cost or market price whichever is
less, where applicable. As on the Balance Sheet Date, the Company is
not holding any inventory in hand.
e) Revenue Recognition
Revenue is recognized to the extent that it is probable that the
economic benefits will flow to the Company and the revenue can be
reliably measured.
f) Accounting for Taxes on Income
Tax Expenses comprises of current tax and deferred tax. Current Income
Tax is measured at the amount expected to be paid to the tax
authorities in accordance with the Indian Income Tax Act.
Deferred Income Taxes reflects the impact of current year timing
differences between taxable income and accounting income for the year
and reversal of timing differences of earlier years.
Deferred tax is measured based on the tax rates and the tax laws
enacted or substantively enacted at the balance sheet date. Deferred
tax assets are recognised only to the extent that there is reasonable
certainty that sufficient future taxable income will be available
against which such deferred tax assets can be realized. In situations
where the Company has carry forward tax losses, deferred tax assets are
recognised only if there is virtual certainty supported by convincing
evidence that such deferred tax assets can be realized against future
taxable profits.
At each balance sheet date the Company re-assesses unrecognized
deferred tax assets. It recognizes unrecognized deferred tax assets to
the extent that it has become reasonably certain or virtually certain,
as the case may be that sufficient future taxable income will be
available against which such deferred tax assets can be realized.
g) Earnings Per Share
Basic earnings per share is calculated by dividing the net profit or
loss for the period attributable to equity shareholders (after
deducting preference dividends and attributable taxes) by the weighted
average number of equity shares outstanding during the period. The
weighted average number of equity shares outstanding during the period
is adjusted for events of bonus issue.
For the purpose of calculating diluted earnings per share, the net
profit or loss for the period attributable to equity shareholders and
the weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
The above calculation of Earnings Per Share indicates Basic Earnings
Per Share as well as Diluted Earnings Per Share.
h) The Company has complied with the provisions of Non Banking
Financial (Non Deposit Accepting or Holding) Companies Prudential
Norms, (Reserve Bank)
i) Provisions, Contingent Liabilities and Contingent Assets
A Provision is recognised when there is preset obligation as a result
of past event and it is probable that an outflow of resource will b
require to settle the obligation, in respect of which a reliable
estimate can be made. Provisions are not discounted to its present
value and are determined based on best estimate required to settle the
obligation at the obligation at the balance sheet date. These are
reviewed at each balance sheet date and adjusted to reflect the current
best estimates.
Disclosures for the contingent Liability is made , without a provision
in books, when there is an obligation that may, but probably will not
require outflow of resources.
Contingent Assets are neither recognised not disclosed in the financial
statements.
j) Cash And Cash Equivalents
Cash & Cash Equivalents in the Balance Sheet comprise cash at Schedule
Bank & In Hand.
k) There was no opening stock and closing stock during the year
2014-15.
Mar 31, 2014
A) Basis of Preparation
The financial statements are prepared in accordance with Generally
Accepted Accounting Principles ("GAAP") under the historical cost
convention on an accrual basis. GAAP comprises mandatory Accounting
Standards issued by the (Companies Accounting Standards) Rules, 2006
and the relevant provisions of the Companies Act, 1956. The accounting
policies have been consistently applied by the Company, and are
consistent with those used in the previous year.
b) Use of Estimates
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of operations during the reporting
period end. Although these estimates are based upon management''s best
knowledge of current events and actions, actual results could differ
from these estimates. Any revision to the accounting estimates is
recognized prospectively.
c) Investments
Investments that are specifically realized and intended to be held not
more than one year are classified as current investments. All other
investments are classified as long-term investments. Current
investments are carried at lower of cost and fair value determined on
an individual investment basis. Long-term investments are carried at
cost. However, provision for diminution in value is made to recognize a
decline other than temporary decline in the value of the investments.
As on the Balance Sheet Date, the Company is not holding any inventory
in hand. As on the Balance Sheet Date, the Company is not having any
investment.
d) Inventories
Closing Stock has been valued at cost or market price whichever is
less, where applicable. As on the Balance Sheet Date, the Company is
not holding any inventory in hand.
e) Revenue Recognition
Revenue is recognized to the extent that it is probable that the
economic benefits will flow to the Company and the revenue can be
reliably measured.
f) Accounting for Taxes on Income
Tax Expenses comprises of current tax and deferred tax. Current Income
Tax is measured at the amount expected to be paid to the tax
authorities in accordance with the Indian Income Tax Act. Deferred
Income Taxes reflects the impact of current year timing differences
between taxable income and accounting income for the year and reversal
of timing differences of earlier years.
Deferred tax is measured based on the tax rates and the tax laws
enacted or substantively enacted at the balance sheet date. Deferred
tax assets are recognised only to the extent that there is reasonable
certainty that sufficient future taxable income will be available
against which such deferred tax assets can be realized. In situations
where the Company has carry forward tax losses, deferred tax assets are
recognised only if there is virtual certainty supported by convincing
evidence that such deferred tax assets can be realized against future
taxable profits.
At each balance sheet date the Company re-assesses unrecognized
deferred tax assets. It recognizes unrecognized deferred tax assets to
the extent that it has become reasonably certain or virtually certain,
as the case may be that sufficient future taxable income will be
available against which such deferred tax assets can be realized.
g) Earnings Per Share
Basic earnings per share is calculated by dividing the net profit or
loss for the period attributable to equity shareholders (after
deducting preference dividends and attributable taxes) by the weighted
average number of equity shares outstanding during the period. The
weighted average number of equity shares outstanding during the period
is adjusted for events of bonus issue.
For the purpose of calculating diluted earnings per share, the net
profit or loss for the period attributable to equity shareholders and
the weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
The above calculation of Earnings per Share indicates Basic Earnings
per Share as well as Diluted Earnings Per Share.
h) The Company has complied with the provisions of Non Banking
Financial (Non Deposit Accepting or Holding) Companies Prudential
Norms, (Reserve Bank)
i) Provisions, Contingent Liabilities and Contingent Assets
A Provision is recognised when there is preset obligation as a result
of past event and it is probable that an outflow of resource will be
required to settle the obligation, in respect of which a reliable
estimate can be made. Provisions are not discounted to its present
value and are determined based on best estimate required to settle the
obligation at the obligation at the balance sheet date. These are
reviewed at each balance sheet date and adjusted to reflect the current
best estimates.
Disclosures for the contingent Liability is made , without a provision
in books, when there is an obligation that may, but probably will not
require outflow of resources. Contingent Assets are neither recognised
not disclosed in the financial statements.
j) Cash And Cash Equivalent
Cash & Cash Equivalents in the Balance Sheet comprise cash at Schedule
Bank & In hand.
k) There was no opening and closing stock during the year 2013-2014.
Mar 31, 2013
A) Basis of Preparation
The financial statements are prepared in accordance with Generally
Accepted Accounting Principles ("GAAP") under the historical cost
convention on an accrual basis. GAAP comprises mandatory Accounting
Standards issued by the (Companies Accounting Standards) Rules, 2006
and the relevant provisions of the Companies Act, 1956. The accounting
policies have been consistently applied by the Company, and are
consistent with those used in the previous year.
b) Use of Estimates
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of operations during the reporting
period end. Although these estimates are based upon management''s best
knowledge of current events and actions, actual results could differ
from these estimates. Any revision to the accounting estimates is
recognized prospectively.
c) Investments
Investments that are specifically realized and intended to be held not
more than one year are classified as current investments. All other
investments are classified as long-term investments. Current
investments are carried at lower of cost and fair value determined on
an individual investment basis. Long-term investments are carried at
cost. However, provision for diminution in value is made to recognize a
decline other than temporary decline in the value of the investments.
As on the Balance Sheet Date, the Company is not holding any inventory
in hand. As on the Balance Sheet Date, the Company is not having any
investment.
d) Inventories
Closing Stock has been valued at cost or market price whichever is
less, where applicable. As on the Balance Sheet Date, the Company is
not holding any inventory in hand.
e) Revenue Recognition
Revenue is recognized to the extent that it is probable that the
economic benefits will flow to the Company and the revenue can be
reliably measured.
f) Accounting for Taxes on Income
Tax Expenses comprises of current tax and deferred tax. Current Income
Tax is measured at the amount expected to be paid to the tax
authorities in accordance with the Indian Income Tax Act. Deferred
Income Taxes reflects the impact of current year timing differences
between taxable income and accounting income for the year and reversal
of timing differences of earlier years.
Deferred tax is measured based on the tax rates and the tax laws
enacted or substantively enacted at the balance sheet date. Deferred
tax assets are recognised only to the extent that there is reasonable
certainty that sufficient future taxable income will be available
against which such deferred tax assets can be realized. In situations
where the Company has carry forward tax losses, deferred tax assets are
recognised only if there is virtual certainty supported by convincing
evidence that such deferred tax assets can be realized against future
taxable profits.
At each balance sheet date the Company re-assesses unrecognized
deferred tax assets. It recognizes unrecognized deferred tax assets to
the extent that it has become reasonably certain or virtually certain,
as the case may be that sufficient future taxable income will be
available against which such deferred tax assets can be realized.
g) Earnings Per Share
Basic earnings per share is calculated by dividing the net profit or
loss for the period attributable to equity shareholders (after
deducting preference dividends and attributable taxes) by the weighted
average number of equity shares outstanding during the period. The
weighted average number of equity shares outstanding during the period
is adjusted for events of bonus issue.
For the purpose of calculating diluted earnings per share, the net
profit or loss for the period attributable to equity shareholders and
the weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
The above calculation of Earnings Per Share indicates Basic Earnings
Per Share as well as Diluted Earnings Per Share.
h) The Company has complied with the provisions of Non Banking
Financial (Non Deposit Accepting or Holding) Companies Prudential
Norms, (Reserve Bank)
i) Provisions, Contingent Liabilities and Contingent Assets A Provision
is recognised when there is preset obligation as a result of past event
and it is probable that an outflow of resource will be require to
settle the obligation, in respect of which a reliable estimate can be
made. Provisions are not discounted to its present value and are
determined based on best estimate required to settle the obligation at
the balance sheet date. These are reviewed at each balance sheet date
and adjusted to reflect the current best estimates. Disclosures for
the contingent Liability is made, without a provision in books, when
there is an obligation that may, but probably will not require outflow
of resources. Contingent Assets are neither recognised not disclosed
in the financial statements.
j) Cash And Cash Equivalents
Cash & Cash Equivalents in the Balance Sheet comprise cash at Schedule
Bank & In Hand.
k) There was no opening stock and closing stock during the year
2012-2013.
Mar 31, 2012
A) Basis of Preparation
The financial statements are prepared in accordance with Generally
Accepted Accounting Principles ("GAAP") under the historical cost
convention on an accrual basis. GAAP comprises mandatory Accounting
Standards issued by the (Companies Accounting Standards) Rules, 2006
and the relevant provisions of the Companies Act, 1956. The accounting
policies have been consistently applied by the Company, and are
consistent with those used in the previous year.
b) Use of Estimates
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of operations during the reporting
period end. Although these estimates are based upon management's best
knowledge of current events and actions, actual results could differ
from these estimates. Any revision to the accounting estimates is
recognized prospectively.
c) Fixed Assets
Fixed Assets owed are stated at historical at original cost less
accumulated depreciation. Cost of acquisition includes of freight,
duties taxes and other incidental expenses, if any.
d) Depreciation
The depreciation has been charged at Straight Line Method as per rates
prescribed in schedule XI of the Companies Act, 1956. Asset
individually costing Rs. 5,000 or less each are depreciated 100% in the
year of purchase
e) Impairment of Assets
The carrying amounts of fixed assets are reviewed at each balance sheet
date if there is any indication of impairment based on internal /
external factors. An impairment loss is recognized wherever the
carrying amount of an asset exceeds its recoverable amount. The
recoverable amount is the greater of the asset's net selling price and
value in use. In assessing value in use, the Company makes a reasonable
estimate of the value in use, the estimated future cash flows are
discounted to their present value at the weighted average cost of
capital. After impairment, depreciation is provided in the revised
carrying amount of the assets over its remaining useful life.
f) Investments
Investments that are specifically realized and intended to be held not
more than one year are classified as current investments. All other
investments are classified as long-term investments. Current
investments are carried at lower of cost and fair value determined on
an individual investment basis. Long-term investments are carried at
cost. However, provision for diminution in value is made to recognize a
decline other than temporary decline in the value of the investments.
g) Inventories
Closing Stock has been valued at cost or market price whichever is
less, where applicable. As on the Balance Sheet Date, the Company is
not holding any inventory in hand.
h) Revenue Recognition
Revenue is recognized to the extent that it is probable that the
economic benefits will flow to the Company and the revenue can be
reliably measured.
i) Accounting for Taxes on Income
Tax Expenses comprises of current tax and deferred tax. Current Income
Tax is measured at the amount expected to be paid to the tax
authorities in accordance with the Indian Income Tax Act. Deferred
Income Taxes reflects the impact of current year timing differences
between taxable income and accounting income for the year and reversal
of timing differences of earlier years.
Deferred tax is measured based on the tax rates and the tax laws
enacted or substantively enacted at the balance sheet date. Deferred
tax assets are recognised only to the extent that there is reasonable
certainty that sufficient future taxable income will be available
against which such deferred tax assets can be realized. In situations
where the Company has carry forward tax losses, deferred tax assets are
recognised only if there is virtual certainty supported by convincing
evidence that such deferred tax assets can be realized against future
taxable profits.
At each balance sheet date the Company re-assesses unrecognized
deferred tax assets. It recognizes unrecognized deferred tax assets to
the extent that it has become reasonably certain or virtually certain,
as the case may be that sufficient future taxable income will be
available against which such deferred tax assets can be realized.
j) Earnings Per Share
Basic earnings per share is calculated by dividing the net profit or
loss for the period attributable to equity shareholders (after
deducting preference dividends and attributable taxes) by the weighted
average number of equity shares outstanding during the period. The
weighted average number of equity shares outstanding during the period
is adjusted for events of bonus issue.
For the purpose of calculating diluted earnings per share, the net
profit or loss for the period attributable to equity shareholders and
the weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
The above calculation of Earnings Per Share indicates Basic Earnings
Per Share as well as Diluted Earnings Per Share.
k) The Company has complied with the provisions of Non Banking
Financial (Non Deposit Accepting or Holding) Companies Prudential
Norms, (Reserve Bank)
I) Provisions, Contingent Liabilities and Contingent Assets
A Provision is recognised when there is preset obligation as a result
of past event and it is probable that an outflow of resource will be
require to settle the obligation, in respect of which a reljable
estimate can be made. Provisions are not discounted to its present
value and are determined based on best estimate required to settle the
obligation at the balance sheet date. These are reviewed at each
balance sheet date and adjusted to reflect the current best estimates.
Disclosures for the contingent Liability is made , without a provision
in books, when there is an obligation that may, but probably will not
require outflow of resources.
Contingent Assets are neither recognised not disclosed in the financial
statements.
m) Cash And Cash Equivalents
Cash & Cash Equivalents in the Balance Sheet comprise cash at Schedule
Bank & In Hand.
Mar 31, 2010
A) Basis of Preparation
The financial statements are prepared in accordance with Generally
Accepted Accounting Principles ("GAAP") under the historical cost
convention on an accrual basis. GAAP comprises mandatory Accounting
Standards issued by the (Companies Accounting Standards) Rules, 2006
and the relevant provisions of the Companies Act, 1956. The accounting
policies have been consistently applied by the Company, and are
consistent with those used in the previous year.
b) Use of Estimates
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of operations during the reporting
period end. Although these estimates are based upon managements best
knowledge of current events and actions, actual results could differ
from these estimates. Any revision to the accounting estimates is
recognized prospectively.
c) Fixed Assets
Fixed Assets owed are stated at historical at original cost less
accumulated depreciation. Cost of acquisition includes of freight,
duties taxes and other incidental expenses, if any.
d) Depreciation
The depreciation has been charged at Straight Line Method as per rates
prescribed in schedule XI of the CompaniesAct, 1956. Asset
individually costing Rs. 5,000 or less each are depreciated 100% in the
year of purchase
e) Impairment of Assets
The carrying amounts of fixed assets are reviewed at each balance sheet
date if there is any indication of impairment based on internal /
external factors. An impairment loss is recognized wherever the
carrying amount of an asset exceeds its recoverable amount. The
recoverable amount is the greater of the assets net selling price and
value in use. In assessing value in use, the Company makes a reasonable
estimate of the value in use, the estimated future cash flows are
discounted to their present value at the weighted average cost of
capital. After impairment, depreciation is provided in the revised
carrying amount of the assets over its remaining useful life.
f) Investments
Investments that are specifically realized and intended to be held not
more than one year are classified as current investments. All other
investments are classified as long-term investments. Current
investments are carried at lower of cost and fair value determined on
an individual investment basis. Long-term investments are carried at
cost. However, provision for diminution in value is made to recognize
a decline other than temporary decline in the value of the investments.
g) Inventories
Closing Stock has been valued at cost or market price whichever is
less, where applicable. As on the Balance Sheet Date, the Company is
not holding any inventory in hand.
h) Revenue Recognition
Revenue is recognized to the extent that it is probable that the
economic benefits will flow to the Company and the revenue can be
reliably measured.
i) Accounting for Taxes on Income
Tax Expenses comprises of current tax and deferred tax. Current Income
Tax is measured at the amount expected to be paid to the tax
authorities in accordance with the Indian Income Tax Act. Deferred
Income Taxes reflects the impact of current year timing differences
between taxable income and accounting income for the year and reversal
of timing differences of earlier years. Deferred tax is measured based
on the tax rates and the tax laws enacted or substantively enacted at
the balance sheet date. Deferred tax assets are recognised only to the
extent that there is reasonable certainty that sufficient future
taxable income will be available against which such deferred tax assets
can be realized. In situations where the Company has unabsorbed
depreciation or carry forward tax losses, deferred tax assets are
recognised only if there is virtual certainty supported by convincing
evidence that such deferred tax assets can be realized againstfuture
taxable profits.
At each balance sheet date the Company re-assesses unrecognized
deferred tax assets. It recognizes unrecognized deferred tax assets to
the extent that it has become reasonably certain or virtually certain,
as the case may be that sufficient future taxable income will be
available against which such deferred tax assets can be realized.
j) Earnings PerShare
Basic earnings per share is calculated by dividing the net profit or
loss for the period attributable to equity shareholders (after
deducting preference dividends and attributable taxes) by the weighted
average number of equity shares outstanding during the period. The
weighted average number of equity shares outstanding during the period
is adjusted for events of bonus issue.
For the purpose of calculating diluted earnings per share, the net
profit or loss for the period attributable to equity shareholders and
the weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
k) The Company has complied with the provisions of Non Banking
Financial (Non Deposit Accepting or Holding) Companies Prudential
Norms, (Reserve Bank)
l) Provisions, Contingent Liabilities and Contingent Assets
A Provision is recognised when there is preset obligation as a result
of past event and it is probable that an outflow of resource will b
require to settle the obligation, in respect of which a reliable
estimate can be made. Provisions are not discounted to its present
value and are determined based on best estimate required to settle the
obligation at the obligation at the balance sheet date. These are
reviewed at each balance sheet date and adjusted to reflect the current
best estimates. Disclosures for the contingent Liability is made ,
without a provision in books, when there is an obligation that may, but
probably will not require outflow of resources.
Contingent Assets are neither recognised not disclosed in the financial
statements.
m) Cash And Cash Equivalents
Cash & Cash Equivalents in the Balance Sheet comprise cash at Schedule
Bank & In Hand.
n) Additional Information required to be disclosed as per clause 3.4C
and 4D of Schedule VI of the Companies Act, 1956. Particulars in
respect of Opening Stock, Purchases, Sales and Closing Stock.