Mar 31, 2014
1.1 Basis of Preparation of Financial Statements
The financial statements of the company have been prepared in
accordance with the Generally Accepted Accounting Principles in India
(Indian GaAp) and the provisions of the Companies Act,1961. The company
has prepared these financial statements to comply in all material
respects with the accounting standards notified under the Companies
(Accounting Standards) Rules,2006, (as amended) and the relevant
provisions of the Companies Act, 1956. The financial statements have
been prepared on an accrual basis and under the historical cost
convention
2.2 Use of Estimates
The preparation of financial statements requires the management to make
estimates and assumptions consid- ered in the reported amounts of
assets and liabilities as on the date of the financial statements and
the reported income and expenses during the reporting period. The
estimates and assumptions used in the financial statements are based
upon the Management''s evaluation of the relevant facts and
circumstances as on the date of financial statements. Management
believes that the estimates used in the preparation of the financial
statements are prudent and reasonable. Future results may vary from
these estimates.
2.3 Stock in Trade
(a) Shares : The Company has valued its Closing Stock of
Shares/Debentures at "Cost Price" instead of "Scrip wise lower of
Cost or Market Price".
2.4 Revenue Recognition
a) Revenue is being recognized in accordance with the Guidance Note on
accrual basis of accounting issued by the Institute of Chartered
Accountants of India. As per the Prudential Norms prescribed by the
Reserve Bank of India with regard to Income Recognition (as amended
till 31.1.98) no Income has been recognized on Non Performing Assets as
defined in the said guidelines.
b) Income from dividends on shares is accounted for on receipt basis.
c) Casual & Incomes of Non-recurring nature are accounted for on
Receipt Basis.
d) FIFO method has been adopted with regard to valuations and Income of
shares and securities.
2.5 Fixed Assets
Fixed Assets are stated at cost net of recoverable taxes and includes
amounts added on revaluation less accumulated depreciation. The
carrying amount of fixed assets are reviewed at each balance sheet date
if there is any indication of impairment based on internal/external
factors. There is no impairment of assets during the year as stated by
management.
2.6 Depreciation and Amortization
Entire block of Assets is fully depreciated in previous year.
2.7 Investments
Investments in quoted securities are classified as long term or short
term depending upon the intention to be sold the same. In terms of the
prudential norms of the Reserve Bank of India, the long term
investments are valued at cost. Provision for diminution in the value
of long term investments is made only if such a decline is other than
temporary. During the year the Investments has been converted into
stock in trade and provision has been made for decline in value of
Investment.
2.8 Employee Benefits
Short-term employee benefits are recognized as an expense at the
undiscounted amount in the profit and loss account of the year in which
the related service is rendered. The company recognizes termination
benefits as a liability and an expense when the enterprise has a
present obligation as a result of a past event. The provision for the
gratuity has been made in the books of accounts as per gratuity act.
2.9 Earning Per Share (EPS)
In determining earnings per share (EPS), the Company considers the net
profit after tax and includes the post tax effect of any extra-ordinary
/ exceptional item. In absence of any dilutive effect of equity shares
the basic and diluted EPS are calculated on the same basis. The number
of shares used in computing basic and diluted earnings per share is the
weighted average number of shares outstanding during the period
2.10 Cash Flows
Cash flows are reported using the indirect method, whereby net profit
before tax is adjusted for the effects of transactions of a non-cash
nature and any deferrals or accruals of past or future cash receipts or
payments. The cash flows from regular revenue generating, investing and
financing activities of the Company are segregated.
Mar 31, 2013
1.1 Basis of Preparation of Financial Statements
The financial statements of the company have been prepared in
accordance with the Generally Accepted Accounting Principles in India
(Indian GAAP) and''the provisions of the Companies Act, 1961. The
company has prepared these financial statements to comply in all
material respects with the accounting standards notified under the
Companies (Accounting Standards) Rules,2006, (as amended) and the
relevant provisions of the Companies Act, 1956. The financial
statements have been prepared on an accrual basis and under the
historical cost convention
1.2 Use of Estimates
The preparation of financial statements requires the management to make
estimates and assumptions considered in the reported amounts of assets
and liabilities as on the date of the financial statements and the
reported income and expenses during the reporting period. The estimates
and assumptions used in the financial statements are based upon the
Management''s evaluation of the relevant facts and circumstances as on
the date of financial statements. Management believes that the
estimates used in the preparation of the financial statements are
prudent and reasonable. Future results may vary from these estimates.
1.3 Revenue Recognition
a) Revenue is being recognized in accordance with the Guidance Note on
accrual basis of accounting issued by the Institute of Chartered
Accountants of India. As per the Prudential Norms prescribed by the
Reserve Bank of India with regard to Income Recognition (as amended
till 31.1.98) no Income has been recognized on Non Performing Assets as
defined in the said guidelines.
b) Income from dividends on shares is accounted for on receipt basis.
c) Casual & Incomes of Non-recurring nature are accounted for on
Receipt Basis.
d) FIFO method has been adopted with regard to valuations and income of
shares and securities.
1.4 Fixed Assets
Fixed Assets are stated at cost net of recoverable taxes and includes
amounts added on revaluation less accumulated depreciation. The
carrying amount of fixed assets are reviewed at each balance sheet date
if there is any indication of impairment based on internal/external
factors. There is no impairment of assets during the year as stated by
management.
1.5 Depreciation and Amortization
Depreciation is charged on assets on straight line method at the rates
and in the manner specified in Schedule XIV to the Companies Act, 1956.
Leasehold Assets are not amortized.
1.6 Investments
Investments in quoted securities are classified as long term or short
term depending upon the intention to be cold the same. In terms of the
prudential norms of the Reserve Bank of India, the long term
investments are valued at cost. Provision for diminution in the value
of long term investments is made only if such a decline is other than
temporary.
1.7 Employee Benefits
Short-term employee benefits are recognized as an expense at the
undiscounted amount in the profit and loss account of the year in which
the related service is rendered. The company recognizes termination
benefits as a liability and an expense when the enterprise has a
present obligation as a result of a past event. The provision for the
gratuity has been made in the books of accounts as per gratuity act.
1.8 Earning Per Share (EPS)
In determining earnings per share (EPS), the Company considers the net
profit after tax and includes the post tax effect of any extra-ordinary
/ exceptional item. In absence of any dilutive effect of equity shares
the basic and diluted EPS are calculated on the same basis. The number
of shares used in computing basic and diluted earnings per share is the
weighted average number of shares outstanding during the period
1.9 Cash Flows
Cash flows are reported using the indirect method, whereby net profit
before tax is adjusted for the effects of transactions of a non-cash
nature and any deferrals or accruals of past or future cash receipts or
payments. The cash flows from regular revenue generating, investing and
financing activities of the Company are segregated.
Mar 31, 2012
1.1 Basis of Preparation of Financial Statements
The financial statements of the company have been prepared in
accordance with the Generally Accepted Account- ing Principles in India
(Indian GAAP) and the provisions of the Companies Act,1961. The company
has prepared these financial statements to comply in all material
respects with the accounting standards notified under the Companies
(Accounting Standards) Rules,2006, (as amended) and the relevant
provisions of the Companies Act, 1956. The financial statements have
been prepared on an accrual basis and under the historical cost
convention
1.2 Use of Estimates
The preparation of financial statements requires the management to make
estimates and assumptions considered in the reported amounts of assets
and liabilities as on the date of the financial statements and the
reported income and expenses during the reporting period. The estimates
and assumptions used in the financial statements are based upon the
Management's evaluation of the relevant facts and circumstances as on
the date of financial statements. Management believes that the
estimates used in the preparation of the financial statements are
prudent and reasonable. Future results may vary from these estimates.
1.3 Stock in Trade
The Company has valued its Closing Stock of Shares/Debentures at
ÃCost Priceà instead of ÃScrip wise lower of Cost or Market
PriceÃ.
Includes Bonus, Merger, Spilit of shares etc.
1.4 Revenue Recognition
a) Revenue is being recognized in accordance with the Guidance Note on
accrual basis of accounting issued by the Institute of Chartered
Accountants of India. As per the Prudential Norms prescribed by the
Reserve Bank of India with regard to Income Recognition (as amended
till 31.1.98) no Income has been recognized on Non Performing Assets as
defined in the said guidelines.
b) Income from dividends on shares is accounted for on receipt basis.
c) Casual & Incomes of Non-recurring nature are accounted for on
Receipt Basis.
d) FIFO method has been adopted with regard to valuations and Income of
shares and securities.
1.5 Fixed Assets
Fixed Assets are stated at cost net of recoverable taxes and includes
amounts added on revaluation less accumu- lated depreciation. The
carrying amount of fixed assets are reviewed at each balance sheet date
if there is any indication of impairment based on internal/external
factors. There is no impairment of assets during the year as stated by
management.
1.6 Depreciation and Amortization
Depreciation is charged on assets on straight line method at the rates
and in the manner specified in Schedule XIV to the Companies Act, 1956.
Leasehold Assets are not amortized.
1.7 Investments
Investments in quoted securities are classified as long term or short
term depending upon the intention to be sold the same. In terms of the
prudential norms of the Reserve Bank of India, the long term
investments are valued at cost. Provision for diminution in the value
of long term investments is made only if such a decline is other than
temporary.
1.8 Employee Benefits
Short-term employee benefits are recognized as an expense at the
undiscounted amount in the profit and loss account of the year in which
the related service is rendered. The company recognizes termination
benefits as a liability and an expense when the enterprise has a
present obligation as a result of a past event. The provision for the
gratuity has been made in the books of accounts as per gratuity act.
1.9 Earning Per Share (EPS)
In determining earnings per share (EPS), the Company considers the net
profit after tax and includes the post tax effect of any extra-ordinary
/ exceptional item. In absence of any dilutive effect of equity shares
the basic and diluted EPS are calculated on the same basis. The number
of shares used in computing basic and diluted earnings per share is the
weighted average number of shares outstanding during the period
1.10 Cash Flows
Cash flows are reported using the indirect method, whereby net profit
before tax is adjusted for the effects of transactions of a non-cash
nature and any deferrals or accruals of past or future cash receipts or
payments. The cash flows from regular revenue generating, investing and
financing activities of the Company are segregated.
Mar 31, 2011
1) Revenue Recognition
a) Revenue is being recognized in accordance with the Guidance Note on
accrual basis of accounting issued by the Institute of Chartered
Accountants of lndia. As per the Prudential Norms prescribed by the
Reserve Bank of India with regard to Income Recognition (as amended
till 31.1.98) no Income has been recognized on Non Performing Assets as
defined in the said guidelines.
b) Income from dividends on shares is accounted for on receipt basis.
c) Casual & Incomes of Non-recurring nature are accounted for on
Receipt Basis.
d) FIFO method has been adopted with regard to valuations and Income of
shares and securities.
2) Valuation of Assets
a) Fixed Assets are stated at cost less depreciation. The carrying
amount of fixed assets are reviewed at each balance sheet date if there
is any indication of impairment based on internal/external factors.
There is no impairment of assets during the year as stated by
management.
b) Investments in quoted securities are classified as long term or
short term depending upon the intention to be sold the same. In terms
of the prudential norms of the Reserve Bank of India, the long term
investments are valued at cost.
c) Stock in Trade of Shares/securities is valued at FIFO. As per past
practice, the Company has valued its Closing Stock of Shares/Debentures
at "Cost Price" instead of "Scrip wise lower of Cost or Market Price".
(3) Depreciation
Depreciation is charged on assets on straight line method at the rates
and in the manner specified in Schedule XIV to the Companies Act, 1956,
(4) Employment Benefits
Short-term employee benefits are recognized as an expense at the
undiscounted amount in the profit and loss account of the year in which
the related service is rendered. The company recognizes termination
benefits as a liability and an expense when the enterprise has a
present obligation as a result of a past event. The provision for the
gratuity has been made in the books of accounts as per gratuity act.
Mar 31, 2010
1) Revenue Recognition
a) Revenue is being recognized in accordance with the Guidance Note on
accrual basis of accounting issued by the Institute of Chartered
Accountants of India. As per the Prudential Norms prescribed by the
Reserve Bank of India with regard to Income Recognition (as amended
till 31.1.98) no Income has been recognized on Non Performing Assets as
defined in the said guidelines.
b) Income from dividends on shares is accounted for on receipt basis.
c) Casual & Incomes of Non-recurring nature are accounted for on
Receipt Basis.
d) FIFO method has been adopted with regard to valuations and Income of
shares and securities.
2) Valuation of Assets
a) Fixed Assets are stated at cost less depreciation. The carrying
amount of fixed assets are reviewed at each balance sheet date if there
is any indication of impairment based on internal/external factors.
There is no impairment of assets during the year as stated by
management.
b) Investments in quoted securities are classified as long term or
short term depending upon the intention to be sold the same. In terms
of the prudential norms of the Reserve Bank of India, the long term
investments are valued at cost.
c) Stock in Trade of Shares/securities is valued at FIFO. As per past
practice, the Company has valued its Closing Stock of Shares/Debentures
at "Cost Price" instead of "Scrip wise lower of Cost or Market Price"
as recommended by The Institute of Chartered Accountants of
lndiaAS-2.
(3) Depreciation
Depreciation is charged on assets on straight line method at the rates
and in the manner specified in Schedule XIV to the Companies Act, 1956.
(4) Employment Benefits
Short-term employee benefits are recognized as an expense at the
undiscounted amount in the profit and loss account of the year in which
the related service is rendered. The company recognizes termination
benefits as a liability and an expense when the enterprise has a
present obligation as a result of a past event. The provision for the
gratuity has been made in the books of accounts as per gratuity act.
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