Mar 31, 2015
1. Basis of Preparation of Financial Statement
The company follows mercantile system of accounting , recognition
income and expenditure on accrual basis. The accounts are prepared on
historical cost convention and as a going concern and in accordance
with the provision of the companies act, 1956 as adopted consistently
by the company. Accounting policies not referred to specifically
otherwise are consistent and in consonance with generally accepted
accounting policies.
2. Fixed Assets
Fixed Assets which have been put to use are shown at cost or
acquisition (including expenses related to installation and
proportionate share of Preoperative expenses top the relative assets)
less depreciation. No depreciation has been provided on fixed assets
which are under installation or installed but not put to use.
3. Depreciation
(1) Depreciation is provided on pro-rata basis, from the data on which
assets have been put to use.
(2) Depreciation is provided on Written Down value basis at the rates
as prescribed u/s. XIV to the Co. Act' 1956.
4. Related Party Disclosure
There is no related party transactions took place during the year.
5. The company has not made any provision for deferred tax liability
arising out of timing difference on account of depreciation as per
companies act and Income Tax Act as per Accounting Standard AS-22
prescribed ICAI
Mar 31, 2014
1. Basis of Preparation of Financial Statement
The company follows mercantile system of accounting , recognition
income and expenditure on accrual basis. The accounts are prepared on
historical cost convention and as a going concern and in accordance
with the provision of the companies act, 1956 as adopted consistently
by the company. Accounting policies not referred to specifically
otherwise are consistent and in consonance with generally accepted
accounting policies.
2. Fixed Assets
Fixed Assets which have been put to use are shown at cost or
acquisition (including expenses related to installation and
proportionate share of Preoperative expenses top the relative assets)
less depreciation. No depreciation has been provided on fixed assets
which are under installation or installed but not put to use.
3. Depreciation
(1) Depreciation is provided on pro-rata basis, from the data on which
assets have been put to use.
(2) Depreciation is provided on Written Down value basis at the rates
as prescribed u/s. XIV to the Co. Act'' 1956.
4. Related Party Disclosure
There is no related party transactions took place during the year.
5. The company has not made any provision for deferred tax liability
arising out of timing difference on account of depreciation as per
companies act and Income Tax Act as per Accounting Standard AS-22
prescribed ICAI
Mar 31, 2010
[1] BASIS OF ACCOUNTING:
These accounts have been prepared on the historical cost basis and on
the accounting principles of going concern.
All expenses and income, to the extent considered payable and
receivable, respectively unless specifically stated to be otherwise,
are accounted for on mercantile basis.
[2] FIXED ASSETS:
There are no fixed assets.
[3] DEPRECIATION
There are no fixed assets.
[4] INVESTMENTS
There are no investments.
[5] INVENTORIES
There are no investments.
[6] SALES
Sales are stated at gross value inclusive of Excise Duty less Trade
Discount.
[7] MISCELLANEOUS EXPENDITURE
Share issue expenses and preliminary expenses are amortized over period
of ten years.
[8] Cost of Hire Purchase Finance charges are evenly distributed.
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