Mar 31, 2015
A. Basis of preparation
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The company has prepared theses financial statements to
comply in all material respects with the accounting standards notified
under the Companies (Accounting Standards) Rules, 2006, (as amended)
and the relevant provisions of the Companies Act, 1956. The financial
statements have been prepared on an accrual basis and under the
historical cost convention.
The accounting policies adopted in the preparation of financial
statements are consistent with those of previous year. , except for the
change in accounting policy explained below.
b. Use of estimate
The preparation of financial statements in conformity with Indian GAAP
requires the management to make judgments, estimates and assumptions
that affect the reported amounts of revenues, expenses, assets and
liabilities and the disclosure of contingent liabilities, at the end of
the reporting period. Although these estimates are based on the
management's best knowledge of current events and actions, uncertainty
about these assumptions and estimates could result in the outcomes
requiring a material adjustment to the carrying amounts of assets or
liabilities in future periods.
c. Revenue Recognition
Revenue from Software Development is recognized based on Software
Developed and billed as per the terms of specific contracts. Revenue
from the training activity is accounted basing on the proportion of the
completion of the course as at the end of the year. Income from
dividend is accounted on cash basis.
d. Interest
Interest income is recognized on a time proportion basis taking into
account the amount outstanding and the applicable interest rate.
Interest income is included under the head "other income" in the
statement of profit and loss.
e. Earnings Per Share
Basic earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. 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.
f. Contingent liabilities
A contingent liability is a possible obligation that arises from past
events whose existence will be confirmed by the occurrence or
non-occurrence of one or more uncertain future events beyond the
control of the company or a present obligation that is not recognized
because it is not probable that an outflow of resources will be
required to settle the obligation. A contingent liability also arises
in extremely rare cases where there is a liability that cannot be
recognized because it cannot be measured reliably.
i. Tangible Fixed Assets
Fixed assets are accounted at cost and inclusive of inward freight,
duties and taxes and incidental expenses related to acquisition.
Capital Work-in-Progress includes advances for capital items, capital
items under erection and pre- operative expenses pending allocation on
the assets to be commissioned.
j. Depreciation
Depreciation on Fixed Assets based on the rates specified in Schedule
XIV to the Companies Act, 1956, under Straight Line method.
k. Tax Expenses
i) Current Tax Expense
The Current charge for income tax is calculated in accordance with the
tax regulations.
ii) Deferred Tax Expense
Deferred Income tax reflects the impact of timing difference between
accounting income and tax income for the year/period. Deferred tax is
measured based on the tax rates and the tax laws enacted at the Balance
Sheet date. Deferred tax asset is recognized only to the extent of
certainty of realization of such asset.
Mar 31, 2014
A. Basis of preparation
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The company has prepared theses financial statements to
comply in all material respects with the accounting standards notified
under the Companies (Accounting Standards) Rules, 2006, (as amended)
and the relevant provisions of the Companies Act, 1956. The financial
statements have been prepared on an accrual basis and under the
historical cost convention.
The accounting policies adopted in the preparation of financial
statements are consistent with those of previous year. , except for the
change in accounting policy explained below.
b. Use of estimate
The preparation of financial statements in conformity with Indian GAAP
requires the management to make judgments, estimates and assumptions
that affect the reported amounts of revenues, expenses, assets and
liabilities and the disclosure of contingent liabilities, at the end of
the reporting period. Although these estimates are based on the
management''s best knowledge of current events and actions, uncertainty
about these assumptions and estimates could result in the outcomes
requiring a material adjustment to the carrying amounts of assets or
liabilities in future periods.
c. Revenue Recognition
Revenue from Software Development is recognized based on Software
Developed and billed as per the terms of specific contracts. Revenue
from the training activity is accounted basing on the proportion of the
completion of the course as at the end of the year. Income from
dividend is accounted on cash basis.
d. Interest
Interest income is recognized on a time proportion basis taking into
account the amount outstanding and the applicable interest rate.
Interest income is included under the head "other income" in the
statement of profit and loss.
e. Earnings Per Share
Basic earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. 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.
. f. Contingent liabilities
A contingent liability is a possible obligation that arises from past
events whose existence will be confirmed by the occurrence or
non-occurrence of one or more uncertain future events beyond the
control of the company or a present obligation that is not recognized
because it is not probable that an outflow of resources will be
required to settle the obligation. A contingent liability also arises
in extremely rare cases where there is a liability that cannot be
recognized because it cannot be measured reliably.
i. Tangible Fixed Assets
Fixed assets are accounted at cost and inclusive of inward freight,
duties and taxes and incidental expenses related to acquisition.
Capital Work-in-Progress includes advances for capital items, capital
items under erection and pre- operative expenses pending allocation on
the assets to be commissioned.
j. Depreciation
Depreciation on Fixed Assets based on the rates specified in Schedule
XIV to the Companies Act, 1956, under Straight Line method.
k. Tax Expenses
i) Current Tax Expense
The Current charge for income tax is calculated in accordance with the
tax regulations.
ii) Deferred Tax Expense
Deferred Income tax reflects the impact of timing difference between
accounting income and tax income for the year/period. Deferred tax is
measured based on the tax rates and the tax laws enacted at the Balance
Sheet date. Deferred tax asset is recognized only to the extent of
certainty of realization of such asset.
3. There is no information from any of the suppliers regarding their
status as small scale industrial undertakings.Hence information
regarding dues to such undertakings could not be furnished.
4. The Previous year figures have been regrouped or reclassified
wherever necessary to be in conformity with the current year figures.
All amounts in the financial statements are presented in Rupees except
where ever specifically mentioned.
Mar 31, 2012
A. Basis of preparation
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The company has prepared theses financial statements to
comply in all material respects with the accounting standards notified
under the Companies (Accounting Standards) Rules' 2006' (as amended)
and the relevant provisions of the Companies Act' 1956. The financial
statements have been prepared on an accrual basis and under the
historical cost convention.
The accounting policies adopted in the preparation of financial
statements are consistent with those of previous year. ' except for the
change in accounting policy explained below.
b. Change in Presentation and disclosure of financial statements
During the year ended March 31' 2012' the revised Schedule VI notified
under the Companies Act 1956' has become applicable to the company' for
preparation and presentation of its financial statements. The adoption
of revised Schedule VI does not impact recognition and measurement
principles followed for preparation of financial statements. However'
it has significant impact on presentation and disclosures made in the
financial statements. The company has also reclassified the previous
year figures in accordance with the requirements applicable in the
current year.
c. Use of estimate
The preparation of financial statements in conformity with Indian GAAP
requires the management to make judgments' estimates and assumptions
that affect the reported amounts of revenues' expenses' assets and
liabilities and the disclosure of contingent liabilities' at the end of
the reporting period. Although these estimates are based on the
management's best knowledge of current events and actions' uncertainty
about these assumptions and estimates could result in the outcomes
requiring a material adjustment to the carrying amounts of assets or
liabilities in future periods.
d. Revenue Recognition
Revenue from Software Development is recognized based on Software
Developed and billed as per the terms of specific contracts. Revenue
from the training activity is accounted basing on the proportion of the
completion of the course as at the end of the year. Income from
dividend is accounted on cash basis.
e. Interest
Interest income is recognized on a time proportion basis taking into
account the amount outstanding and the applicable interest rate.
Interest income is included under the head "other income" in the
statement of profit and loss.
f. Earnings Per Share
Basic earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period. 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.
g. Inventories
Medical supplies' stores and spares are valued at cost. Cost of
pharmacy items is computed on the basis of Specific identification
Method.
h. Contingent liabilities
A contingent liability is a possible obligation that arises from past
events whose existence will be confirmed by the occurrence or
non-occurrence of one or more uncertain future events beyond the
control of the company or a present obligation that is not recognized
because it is not probable that an outflow of resources will be
required to settle the obligation. A contingent liability also arises
in extremely rare cases where there is a liability that cannot be
recognized because it cannot be measured reliably.
The company does not recognize a contingent.
i. Tangible Fixed Assets
Fixed assets are accounted at cost and inclusive of inward freight'
duties and taxes and incidental expenses related to acquisition.
Capital Work-in-Progress includes advances for capital items' capital
items under erection and pre- operative expenses pending allocation on
the assets to be commissioned.
j. Depreciation
Depreciation on Fixed Assets based on the rates specified in Schedule
XIV to the Companies Act' 1956' under Straight Line method.
k. Tax Expenses
i) Current Tax Expense
The Current charge for income tax is calculated in accordance with the
tax regulations.
ii) Deferred Tax Expense
Deferred Income tax reflects the impact of timing difference between
accounting income and tax income for the year/period. Deferred tax is
measured based on the tax rates and the tax laws enacted at the Balance
Sheet date. Deferred tax asset is recognized only to the extent of
certainty of realization of such asset.
Mar 31, 2010
A. Basis for preparation of accounts:
The accounts have been prepared to comply in all material aspects with
applicable accounting principles in India, the Accounting Standards
issued by the Institute of Chartered Accountants of India and the
relevant provisions of the Indian Companies Act, 1956.
B. Fixed Assets:
i) Fixed Assets are stated at Historical Cost, less accumulated
depreciation. Cost of acquisition of Fixed Assets is inclusive of
freight, duties, taxes and incidental expenses thereto and interest on
direct borrowings up to commissioning, wherever applicable.
ii) Depreciation is provided in accordance with the rates and rules
specified in Schedule XIV to the Companies Act, 1956, under Straight
Line Method.
iii) Capital Work-in-Progress includes advances for capital items,
capital items under erection and pre- operative expenses pending
allocation on the assets to be commissioned.
C. Foreign Exchange Transactions:
Transactions in Foreign Exchange, other than those covered by Forward
Contracts, are accounted for at the exchange rates prevailing on the
date of transactions. Assets and Liabilities remaining unsettled at the
end of the year other than those covered by forward contracts are
translated at the closing rate. Realized gains and losses on foreign
exchange transactions other than those relating to Fixed Assets are
recognized in the Profit and Loss Account. Gain or Loss on translation
and realized Gain or Loss in respect of Liabilities incurred to acquire
Fixed Assets are adjusted to the carrying cost of Fixed Assets.
D. Miscellaneous Expenditure:
To write off Preliminary Expenses over a period of Ten Years.
E. Accounting Convention:
The Financial Statements are prepared under Historical Cost Convention
on an accrual basis.
F. Revenue Recognition:
Revenue from Software Development is recognized based on Software
Developed and billed as per the terms of specific contracts. Revenue
from the training activity is accounted basing on the proportion of the
completion of the course as at the end of the year. Income from
dividend is accounted on cash basis.