Mar 31, 2015
A) Recognition of Income and Expenditure:
The Accounts are prepared on accrual basis,
b) Fixed Assets and Depreciation:
I) Fixed Assets includes all expenditure of Capital nature and are
stated at cost of Acquistion, Installation and commissioning less
depreciation, Fixed Assets are stated at historical cost,
II) Depreciation on Fixed Assets other than Land & Plant and Machinery
is provided as per written down value method of Income Tax Act,
1961,which is not lower than minimum rates prescribed under schedule
XIV of Companies Act in case of following Assets:-
1. Computer 60%
and in case of following assets, depreciation
rates are lower than minimum prescribed rates:-
2. Furniture & Fixtures 10%
3. Vehicles 15%
4. Electrical Installation 10%
5. Air Conditioning 15%
6. Testing Equipment 15%
7. Office Equipment 15%
III) In case of Plant and Machinery, Coompany has provided Depreciation
on Straight Line method as per schedule XIV of Companies Act, 1956,
IV) No Depreciation has been provided on assets sold/discarded during
the year
c) Investments:
Investments are valued at cost inclusive of expenses incidental to
their acquisition, Investments meant for long term are carried at cost
and any diminution in value of permanent nature are provided for in
accounts,
d) Valuation of Inventories:
1) Raw Materials, Consumable,
At Cost and other expenditure incurred inclusive of excise duty to
bring the inventories to its present location and conditions, Cost is
determined on FIFO basis,
2) Work-in-progress
At Cost of material and labour together with relevant factory
overheads,
3) Finished Goods
At Cost of material and labour together with relevant factory overheads
(inclusive of excise duty ) or net realisable value whichever is lower
e) Impairment of Assets:
If internal /external indications suggest that an asset of the company
may be impaired, the recoverable amount of asset/ cash generating unit
is determined on the Balance Sheet date and if it is less than its
carrying amount, the carrying amount of the asset / cash generating
unit is reduced to the said recoverable amount, The recoverable amount
is measured as the higher of net selling price and value in use of such
assets / cash generating unit, which is determined by the present value
of the estimated future Cash Flows,
f) Provision for Retirement Benefits:
Provision for gratuity is made in accounts assuming that all the
employee retire at the end of the year, The Company has carried out
acturial valuation of Retirement Benefits during the year.
g) Contingent Liabilities:
Contingent liabilities are not provided for in the accounts and are
disclosed separately in Notes on Accounts
Mar 31, 2014
01. ACCOUNTING POLICIES:
a) Recognition of Income and Expenditure: The Accounts are prepared on
accrual basis.
b) Fixed Assets and Depreciation:
I) Fixed Assets includes all expenditure of Capital nature and are
stated at cost of Acquistion, Installation and commissioning less
depreciation. Fixed Assets are stated at historical cost.
II) Depreciation on Fixed Assets other than Land & Plant and Machinery
is provided as per written down value method of Income Tax Act, 1961
.which is not lower than minimum rates prescribed under schedule XIV of
Companies Act in case of following Assets:-
1. Computer 60%
and in case of following assets, depreciation rates are lower than
minimum prescribed rates:-
2. Furniture & Fixtures 10%
3. Vehicles 15%
4. Electrical Installation 10%
5. Air Conditioning 15%
6. Testing Equipment 15%
7. Office Equipment 15%
III) In case of Plant and Machinery, Coompany has provided Depreciation
on Straight Line method as per schedule XIV of Companies Act, 1956.
IV) No Depreciation has been provided on assets sold/discarded during
the year
c) Investments:
Investments are valued at cost inclusive of expenses incidental to
their acquisition. Investments meant for long term are carried at cost
and any diminution in value of permanent nature are provided for in
accounts.
d) Valuation of Inventories:
1) Raw Materials, Consumable, At Cost and other expenditure incurred
inclusive of excise
duty to bring the inventories to its present location and conditions.
Cost is determined on FIFO basis.
2) Work-in-progress At Cost of material and labour together with
relevant factory overheads.
3) Finished Goods At Cost of material and labour together with relevant
factory overheads (inclusive of excise duty) or net realisable value
whichever is lower
e) Impairment of Assets:
If internal /external indications suggest that an asset of the company
may be impaired, the recoverable amount of asset/ cash generating unit
is determined on the Balance Sheet date and if it is less than its
carrying amount, the carrying amount of the asset/cash generating unit
is reduced to the said recoverable amount. The recoverable amount is
measured as the higher of net selling price and value in use of such
assets /cash generating unit, which isdetermined by the present value
of the estimated future Cash Flows.
f) Provision for Retirement Benefits:
Provision for gratuity is made in accounts assuming that all the
employee retire at the end of the year. The Company has carried out
acturial valuation of Retirement Benefits during the year.
g) Contingent Liabilities:
Contingent liabilities are not provided for in the accounts and are
disclosed separately in Notes on Accounts
Mar 31, 2013
A) Recognition of Income and Expenditure:
The Accounts are prepared on accrual basis.
b) Fixed Assets and Depreciation:
I) Fixed Assets includes all expenditure of Capital nature and are
stated at cost of Acquistion, Installation and commissioning less
depreciation. Fixed Assets are stated at historical cost.
II) Depreciation on Fixed Assets other than Land & Plant and Machinery
is provided as per written down value method of Income Tax Act,
1961,which is not lower than minimum rates prescribed under schedule
XIV of Companies Act in case of following Assets:- 1. Computer 60% and
in case of following assets, depreciation rates are lower than minimum
prescribed rates:-
2. Furniture & Fixtures 10%
3. Vehicles 15%
4. Electrical Installation 10%
5. Air Conditioning 15%
6. Testing Equipment 15%
7. Office Equipment 15%
III) In case of Plant and Machinery, Coompany has provided Depreciation
on Straight Line method as perschedule XIV of Companies Act,1956.
IV) No Depreciation has been provided on assets sold/discarded during
the year
c) Investments:
Investments are valued at cost inclusive of expenses incidental to
their acquisition. Investments meant for long term are carried at cost
and any diminution in value of permanent nature are provided for in
accounts.
d) Valuation of Inventories:
1) Raw Materials, Consumable, At Cost and other expenditure incurred
inclusive of excise duty to bring the inventories to its present
location and conditions.
Cost is determined on FIFO basis.
2) Work-in-progress At Cost of material and labour together
with relevant factory overheads.
3) Finished Goods At Cost of material and labour together
with relevant factory overheads ( inclusive of excise duty ) or net
realisable value whichever is lower
e) Impairment of Assets:
If internal /external indications suggest that an asset of the company
may be impaired, the recoverable amount of asset/ cash generating unit
is determined on the Balance Sheet date and if it is less than its
carrying amount, the carrying amount of the asset / cash generating
unit is reduced to the said recoverable amount. The recoverable amount
is measured as the higher of net selling price and value in use of such
assets / cash generating unit, which is determined by the present value
of the estimated future Cash Flows.
f) Provision for Retirement Benefits:
Provision for gratuity is made in accounts assuming that all the
employee retire at the end of the year However, acturial valuation not
carried out by the company.
g) Contingent Liabilities:
Contingent liabilities are not provided for in the accounts and are
disclosed separately in Note on Accounts
Mar 31, 2012
A) Recognition of Income and Expenditure:
The Accounts are prepared on accrual basis.
b) Fixed Assets and Depreciation:
I) Fixed Assets includes all expenditure of Capital nature and are
stated at cost of Acquistion, Installation and commissioning less
depreciation. Fixed Assets are stated at historical cost.
II) Depreciation on Fixed Assets other than Land is provided as per
written down value method of Income Tax Act, 1961 .which is not lower
than minimum rates prescribed under schedule XIV of Companies Act in
case of following Assets:-
c) Investments:
Investments are valued at cost inclusive of expenses incidental to
their acquisition. Investments meant for long term are carried at cost
and any diminution in value of permanent nature are provided for in
accounts.
e) impairment of Assets:
If internal /external indications suggest that an asset of the company
may be impaired, the recoverable amount of asset/ cash generating unit
is determined on the Balance Sheet date and if it is less than its
carrying amount, the carrying amount of the asset / cash generating
unit is reduced to the said recoverable amount. The recoverable amount
is measured as the higher of net selling price and value in use of such
assets / cash generating unit, which is determined by the present value
of the estimated future Cash Flows.
f) Provision for Retirement Benefits:
Provision for gratuity is made in accounts assuming that all the
employee retire at the end of the year However, acturial valuation not
carried out by the company.
g) Contingent Liabilities:
Contingent liabilities are not provided for in the accounts and are
disclosed separately in Notes on Accounts
Mar 31, 2010
01. ACCOUNTING POLICIES:
a) Recognition of Income and Expenditure: The Accounts are prepared on
accrual basis.
b) Fixed Assets and Depreciation:
I) Fixed Assets includes all expenditure of Capital nature and are
stated at cost of acquistion, installation and commissioning less
depreciation. Fixed Assets are stated at historical cost.
II) Depreciation on Fixed Assets other than Land is provided as per
written down value method of Income Tax Act, 1961 .which is not lower
than minimum rates prescribed under schedule XIV of Companies Act in
case of following Assets:-
1. Computer 60%
and in case of following assets, depreciation rates are lower than
minimum prescribed rates: -
1. Furniture & Fixtures 10%
2. Vehicles 15%
3. Plant & Machinery 15%
4. Electrical Installation 10%
5. Air Conditioning 15%
6. Testing Equipment 15%
7. Office Equipment 15%
III) No Depreciation has been provided on assets sold/discarded during
the year
c) Investments:
Investments are valued at cost inclusive of expenses incidental to
their acquisition. Investments meant for long term are carried at cost
and any diminution in value of permanent nature are provided for in
accounts.
d) Valuation of Inventories:
1) Raw Materials, Consumable, : At Cost and other expenditure incurred
inclusive of excise duty to bring the
inventories to its present location and
conditions.
Cost is determined on FIFO basis.
2) Work-in-progress : At Cost of material and labour together
with relevant factory overheads.
3) Finished Goods : At Cost of material and labour together
with relevant factory overheads
(inclusive of excise duty) or net
realisable value whichever is lower
4) Stock of Shares : At cost
e) Impairment of Assets:
If internal /external indications suggest that an asset of the company
may be impaired, the recoverable amount of asset/ cash generating unit
is determined on the Balance Sheet date and if it is less than its
carrying amount, the carrying amount of the asset/ cash generating unit
is reduced to the said recoverable amount. The recoverable amount is
measured as the higher of net selling price and value in use of such
assets/ cash generating unit, which is determined by the present value
of the estimated future Cash Flows.
f) Provision for Retirement Benefits:
Provision for gratuity is made in accounts assuming that all the
employee retir, at the end of the year However, acturial valuation not
carried out by the company.
g) Contingent Liabilities:
Contingent liabilities are not provided for in the accounts and are
disclosed separately in Notes on Accounts
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