Home  »  Company  »  Esha Media Research  »  Quotes  »  Accounting Policy
Enter the first few characters of Company and click 'Go'

Accounting Policies of Esha Media Research Ltd. Company

Mar 31, 2015

I) System of Accounting :

The financial statement are prepared as per going concern under historical cost convention on actual basis except these with significant uncertainty & in accordance with the relevant Accounting Standards issued by ICAI & in Compliance with the provisions of the Companies Act, 1956 & Companies Act, 2013. Accounting policies not stated explicitly otherwise are consisted with generally accepted accounting principles.

II) Revenue Recognition:

Revenue is recognized when the services is provided and passed on to the customers.

III) Fixed Assets:

Fixed Assets are recorded at cost of acquisition inclusive of all relevant levies & incidental expenses. They are stated at cost less accumulated depreciation.

IV) Depreciation:

Depreciation has been provided on written down value method under section 205(2)(b) of the CompaniesAct, 1956.

i) At the rates specified in schedule II of the Companies Act, 2013.

ii) On a pro - rata basis with reference to the month of additional/disposal in respect of assets added/disposed of during the year.

V) Provision for Income Tax:

The Provision for Income Tax has been made on the basis of the assessable income under the Income Tax Act, 1961. Current tax is the amount of tax payable on the taxable income for the year determined in accordance with the provisions of the Income Tax Act, 1961.

VI) Provision for Deferred Tax:

Deferred Tax is recognized on timing difference; being the differences between the taxable income & accounting income that originate in one period & are capable of reversal in one or more subsequent periods. Deferred tax assets subject to the consideration of prudence are recognized & set off against accumulated Deferred Tax Liabilities & balance if any is carried forward only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. The tax effect is calculated on the accumulated timing difference at the yearend based on the tax rates & laws enacted or substantially enacted on the balance sheet date.

VII) Remuneration to Directors:

i) Remuneration to Director : Rs. 37,20,000/-

VIII) In the opinion of the Board of Directors, the Current Assets, Loans & Advances are approximately of the values stated in Balance Sheet if realized in the ordinary course of business.

IX) The balances of Sundry Debtors, Sundry Creditors, Advances & Lenders are subject to confirmation / reconciliation and adjustments if any.

X) Physical Verification of cash was done by the Management on which the auditor has kept reliance.

XI) Advances to Companies under the same Management for goods & services:

Balance as on 31/03/15

a) RGE Digital Imaging Solutions Pvt. Ltd. - Rs. 11,74,377/-

b) Jyoti Printing Inks Private Limited - Rs. 1,84,111/-

XII) Related Party Transactions

a) Names Of Related Companies APBC Printing Inks Private

Limited, Jyoti Printing Inks Private Limited, RGE Digital Imaging Solutions Private Limited, Esha Broadcast Monitoring Private Limited, Stonerigde Advisors Private Limited.

b) Names Of Other Related Parties : Reliance Graphic Enterprises And PRR Family Trust.

c) Names Of Key Management : Mr. P.Ragahava Raju, Personnel Mr. R S Iyer,

Ms. Jyoti Babar. Ms. SakshiPawar Ms. ShilpaParab

XIII) Recasting of Balances:

Wherever possible & found necessary regrouping & recasting of ledger balances have been made.


Mar 31, 2014

I) System of Accounting :

The financial statement are prepared as per going concern under historical cost convention on actual basis except these with significant uncertainty and in accordance with the relevant Accounting Standards issued by ICAI & in compliance with the provisions of the Companies Act, 1956. Accounting policies not stated explicitly, otherwise are consisted with generally accepted accounting principles.

II) Revenue Recognition

Revenue is recognized when the services is provided and passed on to the customers.

III) Fixed Assets:

Fixed assets arc recorded at cost of acquisition inclusive of all relevant levies and incidental expenses. They are stated at cost less accumulated depreciation.

IV) Depreciation :

Depreciation has been provided on written down value method Method under section 205 (2)(b) of the companies Act, 1956.

i) At the rates specified in schedule XIV of the Companies Act, 1956, except in case of office equipments where we differ from the views of management.

ii) On A pro-rata basis with reference to the month of addition / disposal in respect of assets added / disposed of during the year.

V) Provision for Income Tax:

The Provision for Income Tax has been made on the basis of the assessable income under the income tax act, 1961. Current tax is the amount of tax payable on the taxable income for the year determined in accordance with the provisions of the Income tax act, 1961.

VI) Provision for Deferred Tax:

Deferred tax is recognized on timing differences; being the differences between the taxable income & accounting income that originate in one period & are capable of reversal in one or more subsequent periods. Deferred tax assets subject to the consideration of prudence are recognized and set off against accumulated Deferred Tax Liabilities and balance if any is carried forward only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. The tax effect is calculated on the accumulated timing difference at the yearend based on the tax rates and laws enacted or substantially enacted on the balance sheet date.


Mar 31, 2013

I) System of Accounting :

The financial statement are prepared as per going concern under historical cost convention on actual basis except these with significant uncertainty and in accordance with the relevant Accounting Standards issued by ICAI & in compliance with the provisions of the Companies Act, 1956. Accounting policies not stated explicitly, otherwise are consisted with generally accepted accounting principles.

II) Revenue Recognition

Revenue is recognized when the services is provided and passed on to the customers.

III) Fixed Assets:

Fixed assets are recorded at cost of acquisition inclusive of all relevant levies and incidental expenses. They are stated at cost less accumulated depreciation.

IV) Depreciation :

Depreciation has been provided on written down value method Method under section 205 ( 2) (b) of the companies Act ,1956.

i) At the rates specified in schedule XIV of the Companies Act, 1956,exceptincaseof office equipments where we differ from the views of management.

ii)On A pro-rata basis with reference to the month of addition/disposal in respect of assets added/ disposed of during the year.

V) Provision for Income Tax:

The Provision for Income Tax has been made on the basis of the assessable income under the income tax act, 1961. Current tax is the amount of tax payable on the taxable income for the year determined in accordance with the provisions of the Income tax act,1961.

VI) Provision for Deferred Tax:

Deferred tax is recognized on timing differences; being the differences between the taxable income & accounting income that originate in one period & are capable of reversal in one or more subsequent periods. Deferred tax assets subject to the consideration of prudence are recognized and set off against accumulated Deferred Tax Liabilities and balance if any is carried forward only to the extent that there is reasonable certainty that sufficient future taxable income will be available agaist which such deferred tax assets can be realized. The tax effect is calculated on the accumulated timing difference at the yearend based on the tax rates and laws enacted or substantially enacted on the balance sheet date.

VII) Remuneration to Directors

a) Salary & L.T.A. Rs. 37,40,247/-

b) Contribution to provident fund NIL

c) Other Benefits NIL


Mar 31, 2011

A. Basis of Preparation 1. The financial statements have been of prepared under the historical Financial Statements cost convention in accordance with generally accepted accounting principles and the provisions of the Companies Act, 1956 and applicable Accounting Standards prescribed under Companies (Accounting Standards) Rules, 2006 as adopted consistently by the company.

2. Accounting policies not specifically referred to otherwise are consistent and in consonance with generally accepted accounting principles followed by the company.

b. Fixed Assets Fixed assets are valued at cost less depreciation.

c. Depreciation Depreciation is provided on written down value method at the rates prescribed in the Schedule XIV to the Companies Act 1956.

d. Inventories Closing stock of raw materials are valued at cost or net realisable value which ever is lower. Cost Formula used is on FIFO basis.

e. Revenue Recognition 1. Sale is recognised on despatch of products and is inclusive of VAT.

2. Dividend income is accounted on receipt bais.

f. Investments Long term investments are valued at cost.

g. Retirement Benefits 1. Gratuity to employees is covered under the Group Gratuity cum Life Assurance Scheme of the Life insurance Corporation of India and annual contribution is charged to Profit and Loss Account.

2. Contribution to Government Provident/Pension Funds are accounted on actual liability basis.

h. Impairment of Assets: The Management assesses using external and internal sources whether there is any indication that an asset may be impaired. Impairment of an asset occurs where the carrying value exceeds the present value of cash flow expected to arise from the continuing use of the asset and its eventual disposal. The provision for impairment loss is made when recoverable amount of the asset is lower than the carrying amount.

i. Provisions and Contingent Provisions in respect of present obligations arising out of past Liabilities and Contingent Assets : events are made in the accounts when reliable estimate can be made of the amount of obligations and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but if material, are disclosed in the notes to accounts. Contingent assets are not recognized or disclosed in the financial statements.

j. Foreign Exchange Transactions: a) All foreign currency transactions were initially recognised at the rate on the date of transaction.

b) Exchange differences arising on the settlement of monetary items were recognised as income/expense.

c) Monetary items as on the date of balance sheet are stated at the closing rate.

k. Borrowing Costs : Borrowing costs that are directly attributable to the acquisition of qualifying assets are capitalized as part of cost of such asset. A qualifying asset is one that necessarily takes substantial period of time to get ready for intended use. All other borrowing costs are charged to revenue.

l. Cash Flow Statement : The cash flow statement has been compiled from and is based on the Balance Sheet as at 31 st March, 2011 and the related Profit and Loss Account for the year ended on that date. The Cash Flow Statement has been prepared under the indirect method as set out in the Accounting Standard - 3 on Cash Flow Statement issued by ICAI.

m. Operating Lease : Operating Lease payments are recognized as an expense in the Profit and Loss Account of the year to which they relate


Mar 31, 2010

A. Basis of preparation of Financial Statements

1. The financial statements have been prepared under the historical cost convention in accordance with generally accepted accounting principles and the provisions of the Companies Act, 1956 and applicable Accounting Standards prescribed under Companies (Accounting Standards) Rules, 2006 as adopted consistently by the company.

2. Accounting policies not specifically referred to otherwise are consistent and in consonance with generally accepted accounting principles followed by the company.

b. Fixed assets

-Fixed assets are valued at cost less depreciation.

c. Depreciation

-Depreciation is provided on written down value method at the rates prescribed in the Schedule XIV to the Companies Act 1956.

d. Inventories

-Closing stock of raw materials are valued at cost or net realisable value which ever is lower. Cost Formula used is on FIFO basis.

e. Revenue Recognition

1. Sale is recognised on despatch of products and is inclusive of VAT.

2. Dividend income is accounted on receipt bais.

f. Investments

-Long term investments are valued at cost.

g. Retirement Benefits

1. Gratuity to employees is covered under the Group Gratuity cum Life Assurance Scheme of the Life insurance Corporation of India and annual contribution is charged to Profit and Loss Account.

2. Contribution to Government Provident/Pension Funds are accounted on actual liability basis.

h. Impairment of Assets:

-The Management assesses using external and internal sources whether there is any indication that an asset may be impaired. Impairment of an asset occurs where the carrying value exceeds the present value of cash flow expected to arise from the continuing use of the asset and its eventual disposal. The provision for impairment loss is made when recoverable amount of the asset is lower than the carrying amount.

i. Provisions and Contingent Liabilities and Contingent Assets:

-Provisions in respect of present obligations arising out of past events are made in the accounts when reliable estimate can be made of the amount of obligations and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but if material, are disclosed in the notes to accounts. Contingent assets are not recognized or disclosed in the financial statements.

j. Foreign Exchange Transactions:

a) All foreign currency transactions were initially recognised at the rate on the date of transaction.

b) Exchange differences arising on the settlement of monetary items wre recognised as income/expense.

c) Monetary items as on the date of balance sheet are stated at the closing rate.

k. Borrowing costs:

Borrowing costs that are directly attributable to the acquisition of qualifying assets are capitalized as part of cost of such asset. A qualifying asset is one that necessarily takes substantial period of time to get ready for intended use. All other borrowing costs are charged to revenue.


Mar 31, 2009

1. Nature of Activity: - The Company is engaged in providing comprehensive processing services such as colour scanning, colour separation, image processing,etc., for printing and publishing industry.

Note: The nature of companys operations is such that there is no knownphysical measures or standard classification for its saleable products or services. Consequently the installed capacity is based on standard sets and actual production in terms of sets of various sizes have been certified by the management and accepted by the auditors.

a) Basis of preparation of

Financial Statements 1. The financial statements have been prepared under the historical cost convention in accordance with generally accepted accounting principles and the provisions of the Companies Act, 1956 and applicable Accounting Standards prescribed under Companies (Accounting Standards) Rules, 2006 as adopted consistently by the company.

2. Accounting policies not specifically referred to otherwise are consistent and in consonance with generally accepted accounting principles followed by the company.

b) Fixed assets Fixed assets are valued at cost less depreciation.

c) Depreciation Depreciation is provided on written down value method at the rates prescribed in the Schedule XlV to the Companies Act 1956.

d) Inventories Closing stock of raw materials are valued at cost or net realisable value which ever is lower. Cost formula used is on FIFO basis.

e) Revenue Recognition 1. Sale is recognised on despatch of products and is inclusive of Value Added Tax.

2. Dividend income is accounted on receipt basis.

f) Investments Long term investments are valued at cost.

g) Retirement Benefits 1. Gratuity payable to employees is covered under the Group Gratuity cum Life Assurance Scheme of the Life insurance Corporation of India and annual contribution is charged to Profit and Loss Account.

2. Contribution to Government Provident /Pension Funds are accounted on actual liability basis.

h) Impairment of Assets: The Management assesses using external and internal sources whether there is any indication that an asset may be impaired. Impairment of an asset occurs where the carrying value exceeds the present value of cash flow expected to arise from the continuing use of the asset and its eventual disposal. The provision for impairment loss is made when recoverable amount of the asset is lower than the carrying amount.

i) Provisions and Contingent

Liabilities and Contingent Assets : Provisions in respect of present obligations arising out of past events are made in the accounts when reliable estimate can be made of the amount of obligations and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but if material,are decided in the notes to accounts.Contingent assets are not recognized or disclosed in the financial statements.

j) Foreign Exchange Transactions : a) Are foreign currency transactions were initially recognised at the case on the date of transaction.

b) Exchange difference arising on the settlement of monetary items we recognised as income/expense.

c) Monetary items as on the date of balance sheet are stated at the doing case.

Borrowing costs that are directly attributable to the acquisition of qualifying assets are capitalized as part of cost of such asset. A qualifying asset is one that necessarily takes substantial period of time to get ready for intended use. All other borrowing costs are charged to revenue.

 
Subscribe now to get personal finance updates in your inbox!