Mar 31, 2014
(a) Accounting Convention:
The financial statements are prepared on historical cost convention and
going concern basis.
(b) Fixed Assets:
Fixed assets are stated at cost of acquisition or construction less
accumulated depreciation/ amortization and accumulated impairment
losses, if any.
(c) Depreciation:
Depreciation is not provided for the year due to the fact that the
assets were not utilized because there was no manufacturing activities
carried out.
(d) Impairment of Assets:
An asset is treated as impaired when the carrying cost of an asset
exceeds its recoverable value. An impairment loss is charged to Profit
& Loss account in the year in which an asset is identified as impaired.
The impairment loss recognized in prior accounting period is reversed
if there has been a change in the estimate of recoverable amount.
(e) Investments:
There are no investments with the company.
(f) Inventories:
There are no inventories with the company.
(g) Revenue Recognition:
i) All Income and expenses are accounted on accrual basis.
ii) Scrap where not significant is accounted for when sold.
(h) Retirement benefits:
During the year there were no employees with the company.
(i) Foreign Currency Transaction:
There was no foreign currency transactions during the year.
Mar 31, 2013
A) Accounting Convention:
The financial statements are prepaid cm historical cost convention and
going concern basis.
a} Fixed Assets
Fixed assets are stalled at cost of acquisition or construction less
accumulated depreciation
c) Depreciation:
Depredation is not provided for the year due to (the fact that the asses
Is we''re not utilized because There was no manufacturing activities
carried out
d) Investments:
There are no investments with the company,
e) inventories
There are no inventories worth the company.
f) Revenue Recognition:
i) All income and expenses are accounted on accrual basis
ii] Scrap where not significant is accounted for when sold.
g) Retirement benefits:
Dung the year there were no employees with the company
Mar 31, 2012
1 Accounting Policies :
a ) Accounting Convention :
The financial statements are prepared on historical cost convention and
ongoing concern basis
b ) Fixed Assets :
Fixed assets are stated at cost of acquisition or construction less
accumulated depreciation.
C) Depreciation ;
Depreciation is not provided for the year due to the fact that the
assets were not utilised because there was no manufacturing activities
carried out.
d) Investments:
There are no investments with the company.
e) Inventories :
There are no inventories with the company.
f) Revenue Recognition :
i All Income and Expenses are accounted on accrual basis.
ii Scrap where not significant is accounted for when sold.
g ) Retirement benefits:
During the year there were no employees with the Company.
b) Contingent Liabilities : NIL
2 Due to no trading and manufacturing activities, additional
information as per schedule VI of the Companies Act, 1956, is not
applicable.
3 Since the company''s accumulated losses are more than paid up capital
and reserves and surplus and also in absence of business activity,
applicable statutory compliances were not met with.
4 Auditors remuneration is Rs.20000/= ( Previous Year Rs.5000/= )
5 Previous year figures are regrouped / rearranged wherever necessary.