Mar 31, 2015
A Fixed Assets are stated at cost of acquisition/ construction less
accumulated depreciation. The cost includes all the pre-operative
expenses and the financing cost of borrowings related to the pre
production period. In case of revaluation of assets cost of acquisition
is substituted by appropriate value in terms of valuation by competent
professional.
B Pursuant to requirement of Schedule II of the Companies Act, 2013
(the Act), Company has revised the useful and residual life of assets
and depreciation rates as prescribed under the Schedule II of the Act
w.e.f. 1st April, 2014. In case of fixed assets where the residual
useful life was nil as at 01-04-2014, the Company has adjusted the net
written down values aggregating to Rs. 12,94,848 from retained
earnings. Further, due to applicability of Schedule II of the Act
during the year, the depreciation for the year is lower by Rs.
1,81,690/-.
C Foreign Currency Transactions:
i Export Sales- At the rates as on the date of negotiation or
collection ,where export bills are negotiated after the close of the
year, then at the year end rate when not covered by forward contract.
ii Expenditure- At the rates as on the date of transaction,
receivables, creditors and outstanding liabilities are translated at
the rate as at the close of the year, or at forward contract rate,
wherever applicable.
iii Foreign Currency Loans for acquiring Fixed Assets and outstanding
at the close of the Financial Year - At the contracted /prevailing rate
of exchange, at the close of the year. The gain or loss due to
decrease/increase in rupee liability due to fluctuations in rates of
exchange is adjusted to the cost of the assets acquired through these
loans. The depreciation on such increase/decrease in value of assets is
provided for prospectively on residual life of the assets.
D Investments are stated at cost.
E Stock of Raw Material, spare parts and work in process are valued at
cost.Finished goods are valued at lower of direct cost or net
realisable value.
F Expenditure During Construction Period : Expenditure incurred on
projects during implementation is capitalised and apportioned to
various assets on commissioning of the project.
G Preliminary, Capital Issue and Deferred Revenue Expenses Preliminary,
capital issue expenditure are written off in 10 years from the year of
commercial production.
H Retirement Benefit : Gratuity:- Provision for gratuity is made on the
basis of actual accrued liability if any.
Mar 31, 2014
A Fixed Assets are stated at cost of acquisition/ construction less
accumulated depreciation. The cost includes all the pre-operative
expenses and the financing cost of borrowings related to the pre
production period. In case of revaluation of assets cost of acquisition
is substituted by appropriate value in terms of valuation by competent
professional. B Depreciation on Fixed Assets is provided on straight
line Method at the rates and in the manner prescribed in Schedule XIV
to the Companies Act, 1956. Depreciation on assets acquired during the
year is charged on pro rata basis & part of the month is considered as
a full month. Depreciation on revalued assets is recomputed so as to
write off the entire value in residual life of assets. C Foreign
Currency Transactions:
i Export Sales- At the rates as on the date of negotiation or
collection ,where export bills are negotiated after the close of the
year, then at the year end rate when not covered by forward contract.
ii Expenditure- At the rates as on the date of transaction,
receivables, creditors and outstanding liabilities are translated at
the rate as at the close of the year, or at forward contract rate,
wherever applicable. iii Foreign Currency Loans for acquiring Fixed
Assets and outstanding at the close of the Financial Year - At the
contracted /prevailing rate of exchange, at the close of the year. The
gain or loss due to decrease/increase in rupee liability due to
fluctuations in rates of exchange is adjusted to the cost of the assets
acquired through these loans. The depreciation on such
increase/decrease in value of assets is provided for prospectively on
residual life of the assets. D Investments are stated at cost. E
Stock of Raw Material, spare parts and work in process are valued at
cost.Finished goods are valued at lower of direct cost or net
realisable value.
F Expenditure During Construction Period : Expenditure incurred on
projects during implementation is capitalised and apportioned to
various assets on commissioning of the project.
G Preliminary, Capital Issue and Deferred Revenue Expenses
:Preliminary, capital issue expenditure are written off in 10 years
from the year of commercial production.
H Retirement Benefit : Gratuity:- Provision for gratuity is made on the
basis of actual accrued liability.
Mar 31, 2013
A Fixed Assets are stated at cost of acquisition/ construction less
accumulated depreciation. The cost includes all the pre-operative
expenses and the financing cost of borrowings related to the pre
production period. In case of revaluation of assets cost of acquisition
is substituted by appropriate value in terms of valuation by competent
professional.
B Depreciation on Fixed Assets is provided on straight line Method at
the rates and in the manner prescribed in Schedule XIV to the Companies
Act, 1956. Depreciation on assets acquired during the year is charged
on pro rata basis & part of the month is considered as a full month. Depreciation on revalued assets is recomputed so as to write off the
entire value in residual life of assets.
C Foreign Currency Transactions:
i Export Sales- At the rates as on the date of negotiation or
collection ,where export bills are negotiated after the close of the
year, then at the year end rate when not covered by forward contract.
ii Expenditure- At the rates as on the date of transaction,
receivables, creditors and outstanding liabilities are translated at
the rate as at the close of the year, or at forward contract rate,
wherever applicable.
iii Foreign Currency Loans for acquiring Fixed Assets and outstanding
at the close of the Financial Year - At the contracted /prevailing
rate of exchange, at the close of the year. The gain or loss due to decrease/increase in rupee liability due to fluctuations in rates of
exchange is adjusted to the cost of the assets acquired through
these loans. The depreciation on such increase/decrease in value of
assets is provided for prospectively on residual life of the assets.
D Investments are stated at cost.
E Stock of Raw Material, spare parts and work in process are valued at
cost.Finished goods are valued at lower of direct cost or net
realisable value.
F Expenditure During Construction Period :
Expenditure incurred on projects during implementation is capitalised
and apportioned to various assets on commissioning of the project.
G Preliminary, Capital Issue and Deferred Revenue Expenses :Preliminary,
capital issue expenditure are written off in 10 years from the year of commercial production.
H Retirement Benefit : Gratuity:- Provision for gratuity is made on
the basis of actual accrued liability.
Mar 31, 2012
A. Fixed Assets are stated at cost of acquisition/construction less
accumulated depreciation. The cost includes all the pre-operative
expenses and the financing cost of borrowings related to the pre
production period. In case of revaluation of assets cost of acquisition
is substituted by appropriate value in terms of valuation by competent
professional
B. Depreciation on Fixed Assets is provided on straight line Method at
the rates and in the manner prescribed in Schedule XIV to the Companies
Act, 1956. Depreciation on assets acquired during the year is charged
on pro rata basis & part of the month is considered as a full month..
Depreciation on revalued assets is recomputed so as to write off the
entire value in residual life of assets.
C. Foreign Currency Transactions
i. Export Sales- At the rates as on the date of negotiation or
collection, where export bills are negotiated after the close of the
year, then at the year end rate when not covered by forward contract.
ii. Expenditure- At the rates as on the date of transaction,
receivables, creditors and outstanding liabilities are translated at
the rate as at the close of the year, or at forward contract rate,
wherever applicable.
iii. Foreign Currency Loans for acquiring Fixed Assets and outstanding
at the close of the Financial Year - At the contracted/prevailing rate
of exchange, at the close of the year. The gain or loss due to
decrease/ increase in rupee liability due to fluctuations in rates of
exchange is adjusted to the cost of the assets acquired through these
loans. The depreciation on such increase/decrease in value of assets is
provided for prospectively on residual life of the assets.
D. Investments are stated at cost.
E. Stock of Raw Material, spare parts and work in process are valued at
cost . Finished goods are valued at lower of direct cost or net
realisable value.
F. Expenditure During Construction Period : Expenditure incurred on
projects during implementation is capitalised and apportioned to
various assets on commissioning of the project.
G. Preliminary, Capital Issue and Deferred Revenue Expenses
Preliminary, capital issue expenditure are written off in 10 years from
the year of commercial production.
H. Retirement Benefit : Gratuity:- Provision for gratuity is made on
the basis of actual accrued liability.
Mar 31, 2010
A The financial statements have been prepared under the historical cost
convention In accordance with generally accepted accounting principles
and provisions of the Companies Act, 1956 as adopted by the Company
B The Company generally follows mercantile system of accounting,
recognises significant items of income and expenditure on accrual basis
B. Fixed Assete and Depreciation
A Fixed Assets are stated at cost of acquisition/ construction less
accumulated depreciation. The cost includes all the pre-operative
expenses and the financing cost of borrowings related to the pre
production period. In case of revaluation of assets cost of acquisition
is substituted by appropriate value in terms of valuation by competent
professional B Depreciation on Fixed Assets is provided on straight
line Method at the rates and in the manner prescribed in Schedule XIV
to the Companies Act, 1956. Depreciation on assets acquired during the
year is charged on pro rata basis & part of the month is considered as
a full month.. Depreciation on revalued assets is recomputed so as to
write off the entire value in residual life of assets.
C Foreign Currency Transactions
A Export Sales- At the rates as on the date of negotiation or
collection .where export bills are negotiated after the close of the
year, then at the year end rate when not covered by forward contract.
B Expenditure- At the rates as on the date of transaction, receivables,
creditors and outstanding liabilities are translated at the rate as at
the close of the year, or at forward contract rate, wherever
applicable. C Foreign Currency Loans for acquiring Fixed Assets and
outstanding at the close of the Financial Year -At the contracted
/prevailing rate of exchange, at the close of the year. The gain or
loss due to decrease/increase in rupee liability due to fluctuations in
rates of exchange is adjusted to the cost of the assets acquired
through these loans. The depreciation on such increase/decrease in
value of assets is provided for prospectively on residual life of the
assets.
D. Investments : Investments are stated at cost.
E Inventories: Stock of Raw Material, spare parts and work in process
are valued at cost . Finished goods are valued at lower of direct cost
or net realisable value.
F. Expenditure During Construction Period Expenditure incurred on
projects during implementation is capitalised and apportioned to
various assets on commissioning of the project.
G. Preliminary, Capital Issue and Deferred Revenue Expenses :
Preliminary, capital issue expenditure are written off in 10 years from
the year of commercial production. H. Retirement Benefit : Gratuity:-
Provision for gratuity is made on the basis of actual accrued
liability.
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