Mar 31, 2015
1.1 Basis of preparation of financial statements
These financial statements are prepared on under the historical cost
convention, in compliance in accordance with Generally Accepted
Accounting Principles (GAAP) in India on accrual basis. GAAP Comprises
accounting standards as specified in rule 3 of the Companies
(Accounting Standards) Rules 2006, and the relevant provisions of the
Companies Act, to the extent applicable. Accounting policies have been
consistently applied.
All assets and liabilities have been classified as current or
non-current as per the Company's normal operating cycle and other
criteria set out in the Form AOC - 3 of the Companies (Accounts) Rule,
2014. Company has ascertained its operating cycle as 12 months for the
purpose of current - non current classification of assets and
liabilities.
1.2 Use of estimates
The preparation of financial statements in conformity with GAAP
requires management to make estimates and assumptions that affect the
reported amounts of income and expenses of the period, reported amount
of assets and liabilities and disclosure relating to contingent assets
and liabilities as on the date of the financial statements. Accounting
estimate could change from period to period and actual results could
differ from those estimates.
1.3 Revenue recognition
Revenue is recognized on accrual basis. Dividend income is accounted
for on receipt basis. Sale/purchase of securities is recognized on the
basis of actual deliveries of securities.
1.4 Investments
Securities, which are considered by the management as stock in trade,
are valued at lower of cost or net realizable value. Transfer charges
on securities purchased are added to the cost when paid. Cost of Stock
is taken on Average cost method
1.5 Employee benefits
Employee benefits are recognized as an expense in the profit and loss
account
1.6 Foreign Currency Transactions
a. Expenditure in Foreign Currency: NIL
b. Income in Foreign Currency : NIL
1.7 Taxes
Taxation, if any, is being provided at the rate prevailing during
relevant period under normal provisions prescribed by the Income tax
Act, 1961 and rules made thereunder.
1.8 Cash and Cash Equivalents
Cash and cash equivalents comprise cash in hand and accounts with
banks.
Mar 31, 2014
1.1 Basis of preparation of financial statements
These financial statements are prepared on under the historical cost
convention, in compliance in accordance with Generally Accepted
Accounting Principles (GAAP) in India on accrual basis. GAAP Comprises
accounting standards as specified in rule 3 of the Companies
(Accounting Standards) Rules 2006, and the relevant provisions of the
Companies Act, 1956 to the extent applicable. Accounting policies have
been consistently applied.
All assets and liabilities have been classified as current or
non-current as per the Company's normal operating cycle and other
criteria set out in the Schedule VI to the Companies Act,1956. Company
has ascertained its operating cycle as 12 months for the purpose of
current - non current classification of assets and liabilities.
1.2 Use of estimates
The preparation of financial statements in conformity with GAAP
requires management to make estimates and assumptions that affect the
reported amounts of income and expenses of the period, reported amount
of assets and liabilities and disclosure relating to contingent assets
and liabilities as of the date of the financial statements. Accounting
estimate could change from period to period and actual results could
differ from those estimates.
1.3 Revenue recognition
Revenue is recognized on accrual basis. Dividend income is accounted
for on receipt basis. Sale/purchase of securities is recognized on the
basis of actual deliveries of securities.
1.4 Investments
Securities, which are considered by management as investments, are
valued at cost. Cost is determined on a weighted average basis.
Transfer charges on securities purchased are added to the cost when
paid. Earning from investments are accrued on declaration or receipt
and the Tax deducted at Source thereon is treated as advance tax.
1.5 Employee benefits
There was no person employed during the year.
1.6 Foreign Currency Transactions
a. Expenditure in Foreign Currency : NIL
b. Income in Foreign Currency : NIL
1.7 Taxes
Taxation, if any, is being provided at the rate prevailing during
relevant period under normal provisions prescribed by the Income tax
Act, 1961 and rules made thereunder.
1.8 Cash and Cash Equivalents
Cash and cash equivalents comprise cash in hand and accounts with
banks.
Mar 31, 2013
1.1 Basis of preparation of financial statements
These financial statements are prepared on under the historical cost
convention, in compliance in accordance with Generally Accepted
Accounting Principles (GAAP) in India on accrual basis. GAAP Comprises
accounting standards as specified in rule 3 of the Companies
(Accounting Standards) Rules 2006, and the relevant provisions of the
Companies Act, 1956 to the extent applicable. Accounting policies have
been consistently applied.
All assets and liabilities have been classified as current or
non-current as per the Company's normal operating cycle and other
criteria set out in the Schedule VI to the Companies Act, 1956. Company
has ascertained its operating cycle as 12 months for the purpose of
current  non current classification of assets and liabilities.
1.2 Use of estimates
The preparation of financial statements in conformity with GAAP
requires management to make estimates and assumptions that affect the
reported amounts of income and expenses of the period, reported amount
of assets and liabilities and disclosure relating to contingent assets
and liabilities as of the date of the financial statements. Accounting
estimate could change from period to period and actual results could
differ from those estimates.
1.3 Revenue recognition
Revenue is recognized on accrual basis. Dividend income is accounted
for on receipt basis. Sale/purchase of securities is recognized on the
basis of actual deliveries of securities.
1.4 Investments
Securities, which are considered by management as investments, are
valued at cost. Cost is determined on a weighted average basis.
Transfer charges on securities purchased are added to the cost when
paid. Earning from investments are accrued on declaration or receipt
and the Tax deducted at Source thereon is treated as advance tax.
1.5 Employee benefits
There was no person employed during the year.
1.6 Foreign Currency Transactions
a. Expenditure in Foreign Currency : NIL
b. Income in Foreign Currency : NIL
1.7 Taxes
There is no income tax liability under normal provisions or MA I
calculation prescribed by the Income tax Act, 1961 and rules made
thereunder as the company is having loss in current year and immidiate
previous year. Deferred Tax Assets/ Liabilities has not been recognized
in the books of account, as per discussion with management it is not
reasonably certain that there will be sufficient future Income to
recover such deferred tax.
1.8 Cash and Cash Equivalents
Cash and cash equivalents comprise cash in hand and accounts with
banks.
Mar 31, 2012
1.1 Basis of preparation of financial statements
These financial statements are prepared on under the historical cost
convention, in compliance in accordance with Generally Accepted
Accounting Principles (GAAP) in India on accrual basis. GAAP Comprises
accounting standards as specified in rule 3 of the Companies
(Accounting Standards) Rules 2006, and the relevant provisions of the
Companies Act, 1956 to the extent applicable. Accounting policies have
been consistently applied.
All assets and liabilities have been classified as current or
non-current as per the Company's normal operating cycle and other
criteria set out in the Schedule VI to the Companies Act,1956. Company
has ascertained its operating cycle as 12 months for the purpose of
current - non current classification of assets and liabilities.
1.2 Use of estimates
The preparation of financial statements in conformity with GAAP
requires management to make estimates and assumptions that affect the
reported amounts of income and expenses of the period, reported amount
of assets and liabilities and disclosure relating to contingent assets
and liabilities as of the date of the financial statements. Accounting
estimate could change from period to period and actual results could
differ from those estimates.
1.3 Revenue recognition
Revenue is recognized on accrual basis. Dividend income is accounted
for on receipt basis. Sale/purchase of securities is recognized on the
basis of actual deliveries of securities.
1.4 Investments
Securities, which are considered by management as investments, are
valued at cost. Cost is determined on a weighted average basis.
Transfer charges on securities purchased are added to the cost when
paid. Earning from investments are accrued on declaration or receipt
and the Tax deducted at Source thereon is treated as advance tax.
1.5 Employee benefits
There was no person employed during the year.
1.6 Foreign Currency Transactions
a. Expenditure in Foreign Currency : NIL
b. Income in Foreign Currency : NIL
1.7 Taxes
There is no income tax liability under normal provisions or MAT
calculation prescribed by the Income tax Act, 1961 and rules made
thereunder as the company is having loss in current year and immidiate
previous year. Deferred Tax Assets/ Liabilities has not been recognized
in the books of account, as per discussion with management it is not
reasonably certain that there will be sufficient future Income to
recover such deferred tax.
1.8 Cash and Cash Equivalents
Cash and cash equivalents comprise cash in hand and accounts with
banks.
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