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Accounting Policies of Dolphin Medical Services Ltd. Company

Mar 31, 2015

A. Basis of Preparation of Consolidated Financial Statements

The Consolidated Financial Statements include accounts of Dolphin Medical Services Limited ('the company') and its Subsidiaries Bridge Corporate Services Private Ltd. and Evum Life Sciences Private Ltd. The Consolidated financial statements have been prepared under historical cost convention and in conformity with the generally accepted accounting principles in India, the Accounting Standards notified under Sub- section 3(C) of Section 211 of the Companies Act, 1956 of India and other relevant provisions of the Act. All inter company transactions between subsidiary companies are eliminated.

b. Income and Expenditure

All items and expenditure shown in the statement having material bearing on the accounts are accounted on accrual basis.

c. Fixed Assets

Fixed Assets are stated at cost of acquisition. Cost of acquisition is inclusive of freight, duties, levies, preparatory works, erection, installation and all incidentals attributable to bringing the asset to its working condition.

d. Capital Work in Progress

The assets under installation or under construction, related advances and pending allocations as at the Balance Sheet date are shown as Capital Work in Progress.

e. Depreciation

Depreciation is computed on Straight Line method basis in accordance with the provision of Schedule XIV of the Companies Act, 1956.

f. Investments

Investments are stated at cost of acquisition and the same are considered as long term investments.

g. Provision for Tax

Provision for tax has been computed on the basis of Profits in accordance with the Income Tax .Act, 1961.

h. Deferred Income Tax The Company has accounted for Deferred Tax in accordance with the Accounting Standard-22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India.

Deferred tax is accounted for by computing the tax effect of timing differences, which arise during the year and reverse in subsequent periods.

The deferred Tax Liability for the current year amounting to Rs.1.70 Lakhs is shown in the Profit and Loss account under provision for deferred tax. As at the year end, deferred Tax liability aggregates to Rs.64.35 Lakhs.

i. Employee Benefits Provident fund: The Company makes contribution to Provident Fund administered by the Central Government under the Provident Fund Act, 1952.

j. Contingent Liabilities Contingent Liabilities are generally not provided for in the accounts and are shown separately if any in the notes on accounts.


Mar 31, 2014

A. Basis of Preparation of financial statements

The financial statements have been prepared under historical cost convention and in conformity with the generally accepted accounting principles, applicable provisions of the Companies Act, 1956 and as per the Accounting Standards issued by the Institute of Chartered Accountants of India.

b. Income and Expenditure

All items and expenditure shown in the statement having material bearing on the accounts are accounted on accrual basis.

c. Fixed Assets

Fixed Assets are stated at cost of acquisition. Cost of acquisition is inclusive of freight, duties, levies, preparatory works, erection, installation and all incidentals attributable to bringing the asset to its working condition.

d. Capital Work in Progress

The assets under installation or under construction and related advances as at the Balance Sheet date are shown as Capital Work in Progress.

e. Depreciation

Depreciation is computed on Straight Line method basis in accordance with the provision of Schedule XIV of the Companies Act, 1956.

f. Investments

Investments are stated at cost of acquisition and the same are considered as long term investments.

g. Provision for Tax

Provision for tax has been computed on the basis of Profits in accordance with the Income Tax Act, 1961.

h. Deferred Income Tax

The Company has accounted for Deferred Tax in accordance with the Accounting Standard- 22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India.

Deferred tax is accounted for by computing the tax effect of timing differences, which arise during the year and reverse in subsequent periods.

The deferred Tax Liability for the current year amounting to Rs.0.39 Lakhs is shown in the Profit and Loss account under provision for Deferred tax. As at the year end, deferred Tax liability aggregates to Rs.66.04 Lakhs.

i. Employee Benefits

Provident fund: The Company makes contribution to Provident Fund administered by the Central Government under the Provident Fund Act, 1952.

j. Contingent Liabilities

Contingent Liabilities are generally not provided for in the accounts and are shown separately if any in the notes on accounts.


Mar 31, 2012

A. Basis of Preparation of financial statements

The financial statements have been prepared under historical cost convention and in conformity with the generally accepted accounting principles' applicable provisions of the Companies Act' 1956 and as per the Accounting Standards issued by the Institute of Chartered Accountants of India.

b. Income and Expenditure

All items and expenditure shown in the statement having material bearing on the accounts are accounted on accrual basis.

c. Fixed Assets

Fixed Assets are stated at cost of acquisition. Cost of acquisition is inclusive of freight' duties' levies' preparatory works' erection' installation and all incidentals attributable to bringing the asset to its working condition. d.Capital Work in Progress

The assets under installation or under construction and related advances as at the Balance Sheet date are shown as Capital Work in Progress.

e. Depreciation

Depreciation is computed on Straight Line method basis in accordance with the provision of Schedule XIV of the Companies Act' 1956.

f. Investments

Investments are stated at cost of acquisition and the same are considered as long term investments.

g. Deferred Income Tax

The Company has accounted for Deferred Tax in accordance with the Accounting Standard-22

Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India.

Deferred tax is accounted for by computing the tax effect of timing differences' which arise during the year and reverse in subsequent periods.

The deferred Tax Liability for the current year amounting to Rs.4.27 Lakhs is shown in the Profit and Loss account under provision for Deferred tax. As at the year end' deferred Tax liability aggregates to Rs.62.45 Lakhs.

h. Employee Benefits Provident fund: The Company makes contribution to Provident Fund administered by the Central

Government under the Provident Fund Act' 1952.

i. Contingent Liabilities

Contingent Liabilities are generally not provided for in the accounts and are shown separately if any in the notes on accounts.


Mar 31, 2010

A. Basis of Preparation of financial statements: The financial statements have been prepared under historical cost convention and in conformity with the generally accepted accounting principles, applicable provisions of the Companies Act, 1956 and as per the Accounting Standards issued by the Institute of Chartered Accountants of India.

b. Income and Expenditure : All items and expenditure shown in the statement having material bearing on the accounts are accounted on accrual basis.

c. Fixed Assets: Fixed Assets are stated at cost of acquisition. Cost of acquisition is inclusive of freight, duties, levies, preparatory works, errection, installation and all incidentals attributable to bringing the asset to its working condition.

d. Capital Work in Progress: The assets under installation or under construction and related advances as at the Balance Sheet date are shown as Capital Work in Progress.

e. Depreciation : Depreciation is computed on Straight Line method basis in accordance with the provision of Schedule XIV of the Companies Act, 1956.

f. Investments Investments are stated at cost of acquisition and the same are considered as long term investments.

g. Provision for Tax Provision for tax has been computed on the basis of Profits in accordance with the Income Tax .Act, 1961

h. Deferred Income Tax

The Company has accounted for Deferred Tax in accordance with the Accounting Standard-22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India.

Deferred tax is accounted for by computing the tax effect of timing differences, which arise during the year and reverse in subsequent periods.

The deferred Tax Liability for the current year amounting to Rs.15.07 Lakhs is shown in the Profit and Loss account under provision for Deferred tax. As at the year end, Deferred Tax liability aggregates to Rs.48.21 Lakhs.

i. Employee Benefits

Provident fund: The Company makes contribution to Provident Fund administered by the Central Government under the Provident Fund Act, 1952.

j. Contingent Liabilities

Contingent Liabilities are generally not provided for in the accounts and are shown separately if any in the notes on accounts

 
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