Mar 31, 2014
1. GENERAL
The Financial Statements havegenerally been prepared on the historical
cost convention. Accounting policies not specifically referred to
otherwise are in consonance with generally accepted accounting
principals.
2. BASISOF ACCOUNTING
The company follows the mercantile system of accounting generally
except otherwise stated herein below, if so.
3. FIXED ASSETS
Fixed assets are stated at cost of less accumulated depreciation.
Depreciationhas beenprovided atthe rates and in accordance of Companies
Act..
4. INVESTMENTS
Investments are stated at cost.
5. INVENTORIES
Raw Materials and Finished products, produced and purchased by the
Company are carried at cost or market value whichever is less.
6. REVENUE AND EXPENDITURE RECOGNITION
Revenue is recognized and expenditure is accounted for on their accrual
except insurance claim, claims in respect of material purchased andsold
whichare accounted for on cash basis.
7. MISCELLANEOUS EXPENDITURE
Miscellaneous Expenditure such as preliminary expenditure are
amortizedover a period of 5 years.
8. DEFERRED TAX
The Deferred tax is recognized for all temporary differences subject to
the consideration of prudence and at currently available rates.
Deferred Tax assets are recognized only if there is virtual certainty
that they will be realized.
9. FOREIGN CURRENCY TRANSACTION
There were no foreign transactions done by company during the period.
Mar 31, 2011
1) GENERAL :
I. The Financial Statement have generally been prepared on the
historical cost convention.
II. Accounting policies not specifically referred to otherwise are in
consonance with generally accepted accounting principles.
2) BASIS OF ACCOUNTING:
The Company follows the mercantile system of accounting generally
except otherwise stated herein below, if so.
3) FIXED ASSETS :
Fixed assets are stated at cost of less accumulated depreciation.
depreciation has been provided. on WDV in accordance with the
provision of section 205(2)(b) of the companies Act,1956 at the rates
specified in the schedule XIV to the said Act.
4) INVESTMENT:
Investments, if any, are stated at cost.
5) REVENUE RECOGNITION:
I. Revenue in respect of Sales, Labour Charges, interest, and Overdue
Compensation Charges Etc. is recognized only when it is reasonably
certain that the ultimate collection will be made.
6) MISCELLANEOUS EXPENDITURE :
Miscellaneous Expenditure such as preliminary expenditure are amortized
over a period of 5 years.
7) DEFERED TAX:
The Deferred tax is recognized for all temporary differences subject to
the consideration of prudence and at currently available rates.
Deferred Tax assets are recognized only if there is virtual certainty
that they will be realized.
Mar 31, 2010
1) GENERAL :
I. The Financial Statement have generally been prepared on the
historical cost convention.
II. Accounting policies not specifically referred to otherwise are in
consonance with generally accepted accounting principles.
2) BASIS OF ACCOUNTING:
The Company follows the mercantile system of accounting generally
except otherwise stated herein below, if so.
3) FIXED ASSETS :
Fixed assets are stated at cost of less accumulated depreciation.
depreciation has been provided. on WDV in accordance with the
provision of section 205(2)(b) of the companies Act,1956 at the rates
specified in the schedule XIV to the said Act.
4) INVESTMENT:
Investments, if any, are stated at cost.
5) REVENUE RECOGNITION:
I. Revenue in respect of Sales, Labor Charges, interest, and Overdue
Compensation Charges Etc. is recognized only when it is reasonably
certain that the ultimate collection will be made.
6) MISCELLANEOUS EXPENDITURE :
Miscellaneous Expenditure such as preliminary expenditure are amortized
over a period of 5 years.
7) DEFERED TAX:
The Deferred tax is recognized for all temporary differences subject to
the consideration of prudence and at currently available rates.
Deferred Tax assets are recognized only if there is virtual certainty
that they will be realized.