Mar 31, 2014
1. Method of Accounts: The Financial Statements have been prepared
under the historical cost convention, in accordance with the Generally
Accepted Accounting Principles accepted in India and the provisions of
the Companies Act, 1956, as adopted consistently by the Company. Method
of accounting employed by the company is generally mercantile both as
to income and expenditure. All income and expenditure having a
material bearing on the financial statements are recognised on accrual
basis.
The preparation of financial statements in conformity with accounting
standards requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities at the date of
financial statements, and the reported amounts of revenues and expenses
during the reporting period.
2. Revenue Recognition: There is no transaction in nature of trading
or manufacturing during the year. The commission income is recognised
on acceptance basis.
3. Fixed Assets & Depreciation: There is no fixed assets at the end of
the year.
4. Inventories: There are no inventories as at the beginning as well
as at the end of the year.
5. Investment: Investments being long term are stated at cost.
Investments are subject to physical verification and reconciliation
thereof with actual quantity as regards the numbers of investment,
which might have been increased due to conversion, bonus if any or
decreased due to conversion from one form to another. The details shown
in NOTE "5" of the Balance Sheet is taken as certified and valued by
management. Further on account what is stated above, the market values
of quoted shares are not determined.
6. Retirement Benefits :
(i) Provident Fund: Since there is no employee eligible for Provident
Fund at the date of financial statement, no provision for Provident
Fund has been made in books of account.
(ii) Gratuity: Since there is no employee eligible for gratuity at the
date of financial statement, no provision for gratuity has been made in
books of account.
7. Contingency :
(i) Sundry Creditors, Debtors and Loans and Advances including
borrowings and cash credit from bank are subject to confirmation and
reconciliation with respect to individual details. Same are taken as
certified by management and necessary adjustments in this respect have
been carried out and further be carried out on ascertainment of amounts
thereof.
8. Contingent Liabilities: There is no Contingent liability for the
year.
9. Taxation: No provision for Taxation and deferred taxation has been
provided in the books of account.
Mar 31, 2013
1. Method of Accounts: The Financial Statements have been prepared
under the historical cost convention, in accordance with the Generally
Accepted Accounting Principles accepted in India and the provisions of
the Companies Act. 1956. as adopted consistently by the Company. Method
of accounting employed by the company is generally mercantile both as
to income and expenditure. All income and expenditure having a material
bearing on the financial statements are recognized on accrual basis.
The preparation of financial statements in conformity with accounting
standards requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities at the date of
financial statements, and the reported amounts of revenues and expenses
during the reporting period.
2. Revenue Recognition: There is no transaction in nature of trading or
manufacturing during the year. The commission income is recognized on
acceptance basis.
3. Fixed Assets & Depreciation: There is no fixed assets at the end of
the year.
4. Inventories: There are no inventories as at the beginning as well as
at the end of the year.
5. Investment: Investments being long term are stated at cost.
Investments are subject to physical verification and reconciliation
thereof with actual quantity as regards the numbers of investment.
which might have been increased due to conversion, bonus if any or
decreased due to conversion from one form to another. The details shown
in NOTE "5" of the Balance Sheet is taken as certified and valued by
management. Further on account what is stated above, the market values
of quoted shares are not determined.
6. Interest on Borrowings: The Interest on cash credit account with
Union Bank of India has been charged against the profit for the current
year since the said interest has been charged by the bank in its books
on settlement basis of this account with bank.
7. Retirement Benefits:
(I) Provident Fund: Since there is no employee eligible for Provident
Fund at the date of financial statement, no provision for Provident
Fund has been made in books of account.
(ii) Gratuity: Since there is no employee eligible for gratuity at the
date of financial statement, no provision for gratuity has been made
in books of account.
8. Contingency:
(i) Sundry Creditors, Debtors and Loans and Advances including
borrowings and cash credit from bank are subject to confirmation and
reconciliation with respect to individual details. Same are taken as
certified by , management and necessary adjustments in this respect
have been carried out and further be carried out on ascertainment of
amounts thereof.
9. Contingent Liabilities: There is no Contingent liability for the
year.
10. Taxation: No provision for Taxation and deferred taxation has been
provided in the books of account.
Mar 31, 2011
1. Method of Accounts: The Financial Statements have been prepared
under the historical cost convention, in accordance with the Generally
Accepted Accounting Principles accepted in India and the provisions of
the Companies Act, 1956, as adopted consistently by the Company. Method
of accounting employed by the company is generally mercantile both as
to income and expenditure. All income and expenditure having a material
bearing on the financial statements are recognised on accrual basis.
The preparation of financial statements in conformity with accounting
standards requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities at the date of
financial statements, and the reported amounts of revenues and expenses
during the reporting period.
2. Revenue Recognition: There is no transaction in nature of trading
or manufacturing during the year. Other Income has been accounted on
receipt basis.
3. Fixed Assets & Depreciation : There is no fixed assets at the end
of the year.
4. Inventories: There are no inventories as at the beginning as well
as at the end of the year.
5. Investment: Investments being long term are stated at cost.
Investments are subject to physical verification and reconciliation
thereof with actual quantity as regards the numbers of investment,
which might have been increased due to conversion, bonus if any or
decreased due to conversion from one form to another. The details shown
in Schedule 'E' of the Balance Sheet is taken as certified and valued
by management. Further on account what is stated above, the market
values of quoted shares are not determined.
6. Interest on Borrowings: The Interest on cash credit account with
Union Bank of India has not been charged against the profit for the
current year since the said interest has not been charged by the bank
in its books and account is NPA under settlement and it is further
subject to reconciliation on availability of statement.
7. Retirement Benefits :
(i) Provident Fund: Since there is no employee eligible for Provident
Fund at the date of financial statement, no provision for Provident
Fund has been made in books of account.
(ii) Gratuity: Since there is no employee eligible for gratuity at the
date of financial statement, no provision for gratuity has been made in
books of account.
8. Contingency :
(i) Sundry Creditors, Debtors and Loans and Advances including
borrowings and cash credit from bank are subject to confirmation and
reconciliation with respect to individual details. Same are taken as
certified by management and necessary adjustments in this respect have
been carried out and further be carried out on ascertainment of amounts
thereof
9. Contingent Liabilities: The Company has Cash Credit Account with
Union Bank of India, Udhna on which the bank has not charged interest
in their books on this account and hence the company has not debited
the interest on Cash Credit Account. The amount of interest and the
contingent liabilities thereof has not been quantified, since the
Company had corresponded for the bank for settlement.
10. Taxation: No provision for Taxation and deferred taxation has been
provided in the books of account.
Mar 31, 2010
1. Method of Accounts: The Financial Statements have been prepared
under the historical cost convention, in accordance with the Generally
Accepted Accounting Principles accepted in India and the provisions of
the Companies Act, 1956, as adopted consistently by the Company. Method
of accounting employed by the company is generally mercantile both as
to income and expenditure. All income and expenditure having a material
bearing on the financial statements are recognised on accrual basis.
The preparation of financial statements in conformity with accounting
standards requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities at the date of
financial statements, and the reported amounts of revenues and expenses
during the reporting period.
2. Revenue Recognition: There is no transaction in nature of trading
or manufacturing during the year. Other Income has been accounted on
receipt basis.
3. Fixed Assets & Depreciation : There is no fixed assets at the end
of the year.
4. Inventories: There are no inventories as at the beginning as well
as at the end of the year.
5. Investment: Investments being long term are stated at cost.
Investments are subject to physical verification and reconciliation
thereof with actual quantity as regards the numbers of investment,
which might have been increased due to conversion, bonus if any or
decreased due to conversion from one form to another. The.details
shown in Schedule * F' of the Balance Sheet is taken as certified and
value.d by management. Further on account what is stated above, the
market values of quoted shares are not determined.
6. Retirement Benefits :
(i) Provident Fund: Since there is no employee eligible for Provident
Fund at the date of financial statement; no provision for Provident
Fund has been made in books of account.
(ii) Gratuity: Since there is no employee eligible for gratuity at the
date of financial statement, no provision for gratuity has been made in
books of account.
7. Interest on Borrowings; The Interest on cash credit account with
Union Bank of India has not been charged against the profit for the
current year since the said interest has not been charged by the bank
in its books and it is further subject to reconciliation on
availability of statement.
8. Contingency:
(i) Sundry Creditors, Debtors and Loans and Advances including
borrowings and cash credit from bank are subject to confirmation and
reconciliation with respect to individual details. Same are taken as
certified by management and necessary adjustments in this respect have
been carried out and further be carried out on ascertainment of amounts
thereof.
9. Contingent Liabilities: The Company has Cash Credit Account with
Union Bank of India, Udhna on which the bank has not charged interest
in their books on this account and hence the company has not debited
the interest on Cash Credit Account. The amount of interest and the
contingent liabilities thereof has not been quantified, since the
Company had corresponded for the bank statement & interest thereon, and
bank has not provided any statement of said cash credit account along
with detail of interest.
10. Dividend Account With Union Bank of India: The Company has
Dividend Account with Union Bank of India, Udhna, the balance with same
Bank is subject to reconciliation.
11. Taxation: No provision for Taxation and deferred taxation has been
provided in the books of account.