Mar 31, 2015
Significant accounting policies adopted in the preparation and
presentation of the accounts are as under:
a) Nature of Operations
KCL Infra Projects Limited ("the Company") was incorporated on 21st
July, 1995 at Jaipur, India. The main object of the Company is to carry
on business of Construction & Infrastructure Activities. In addition to
that Company is also engaged in dealings of Shares & securities,
derivatives and other investments.
b) Basis of Accounting
The Financial Statements have been prepared and presented under the
historical cost convention on accrual basis of accounting, in
accordance with the accounting principles generally accepted in India
and comply with the applicable accounting standards issued by the
Institute of Chartered Accountants of India (ICAI) and the relevant
provisions of the Companies Act, 1956 and Companies Act, 2013, to the
extent applicable. Except where otherwise stated, the accounting
principles have been consistently applied.
c) Fixed Assets
Fixed Assets are stated at cost less accumulated depreciation.
Depreciation is provided on Straight Line method on pro-rata basis over
the useful life prescribed in schedule II of the Companies Act, 2013.
Depreciable amount is calculated after considering 5% of original
costas residual value.
d) Investments
Long term investments are stated at cost and provision is made to
recognize any diminution in value, other than that of a temporary
nature.
e) Inventories
Inventories are valued as follows:
* Constructions & Infrastructure
Projects in progress are valued at cost.
* Equity Shares & Units of Mutual Fund
Equity Shares & Units of Mutual Fund are valued at Cost or realizable
value, whichever is lower. Cost is determined on a First in First out
Basis.
f) Revenue recognition
* Revenue is recognized to the extent it is probable that the economic
benefits will flow to the Company and the revenue can be reliably
measured. In respect of non-delivery based transactions such as
derivatives, the profits loss is accounted for at the completion of
each Profit and Loss as incurred.
* In respect of any other income, the Company follows the practice of
recognizing income on accrual basis.
g) Income taxes
Tax expense comprises both current and deferred taxes. Current
income-tax is measured at the amount expected to be paid to the tax
authorities in accordance with the Indian Income Tax Act. Deferred
income taxes reflect the impact of current year timing differences
between taxable income and accounting income for the year and reversal
of timing differences of earlier years. Deferred tax is measured based
on the tax rates and the tax laws enacted or substantively enacted at
the balance sheet date.
Deferred tax assets are recognized 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.
Deferred tax assets are recognized on carry forward of unabsorbed
depreciation and tax losses only if there is virtual certainty that
such deferred tax assets can be realized against future taxable
profits.
h) Earnings perShare
Basic earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the number
of equity shares outstanding during the period.
i) Segment Reporting Policies Identification of segments:
The Company's operating businesses are organized and managed separately
according to the nature of products and services provided, with each
segment representing a strategic business unit that offers different
products and serves different markets.
Allocation of common costs:
Common allocable costs are allocated to each segment according to the
relative contribution of each segment to the total common costs.
Segment Policies:
The Company prepares its segment information in conformity with the
accounting policies adopted for preparing and presenting the Financial
Statements of the Company as a whole.
j) Provisions and Contingent Liabilities
The Company recognizes a provision where there is present obligation as
a result of a past event that probably requires an outflow of resources
and a reliable estimate can be made of the amount of the obligation.
Disclosures for a contingent liability is made when there is a possible
obligation ora present obligation that may, but probably will not,
require an outflow of resources. Where there is a possible obligation
or a present obligation that the likelihood of outflow of resources is
remote, no provision or disclosure is made.
Mar 31, 2014
A) Nature of Operations
KCL Infra Projects Limited ("the Company") was incorporated on 21st
July, 1995 at Jaipur, India. The main object of the company is to carry
on business of Construction & Infrastructure Activities. In addition to
that company is also engaged in dealings of Shares & securities,
derivatives and other investments.
b) Basis of Accounting
The financial statements have been prepared and presented under the
historical cost convention on accrual basis of accounting, in
accordance with the accounting principles generally accepted in India
and comply with the applicable accounting standards issued by the
Institute of Chartered Accountants of India (ICAI) and the relevant
provisions of the Companies Act, 1956, to the extent applicable. Except
where otherwise stated, the accounting principles have been
consistently applied.
c) Fixed Assets
Fixed Assets are stated at cost less accumulated depreciation.
Depreciation is provided on Straight Line method on pro-rata basis at
the rates, which are prescribed in Schedule XIV of the Companies Act,
1956.
d) Investments
Long term investments are stated at cost and provision is made to
recognize any diminution in value, other than that of a temporary
nature.
e) Inventories
Inventories are valued as follows:
* Constructions & Infrastructure
Projects in progress are valued at cost.
* Equity Shares & Units of Mutual Fund
Equity Shares & Units of Mutual Fund are valued at Cost or realizable
value, whichever is lower. Cost is determined on a First in First out
Basis.
f) Revenue recognition
a) Revenue is recognized to the extent it is probable that the economic
benefits will flow to the Company and the revenue can be reliably
measured. In respect of non-delivery based transactions such as
derivatives, the profit & loss is accounted for at the completion of
each Profit and Loss as incurred.
b) In respect of any other income, the company follows the practice of
recognizing income on accrual basis.
g) Income taxes
Tax expense comprises both current and deferred taxes. Current
income-tax is measured at the amount expected to be paid to the tax
authorities in accordance with the Indian Income Tax Act. Deferred
income taxes reflect the impact of current year timing differences
between taxable income and accounting income for the year and reversal
of timing differences of earlier years. Deferred tax is measured based
on the tax rates and the tax laws enacted or substantively enacted at
the balance sheet date.
Deferred tax assets are recognized 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.
Deferred tax assets are recognized on carry forward of unabsorbed
depreciation and tax losses only if there is virtual certainty that
such deferred tax assets can be realized against future taxable
profits.
h) Earnings per Share
Basic earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the number
of equity shares outstanding during the period.
i) Segment Reporting Policies
Identification of segments:
The Company''s operating businesses are organized and managed separately
according to the nature of products and services provided, with each
segment representing a strategic business unit that offers different
products and serves different markets.
Allocation of common costs:
Common allocable costs are allocated to each segment according to the
relative contribution of each segment to the total common costs.
Segment Policies:
The Company prepares its segment information in conformity with the
accounting policies adopted for preparing and presenting the financial
statements of the Company as a whole.
j) Provisions and Contingent Liabilities
The Company recognizes a provision where there is present obligation as
a result of a past event that probably requires an outflow of resources
and a reliable estimate can be made of the amount of the obligation.
Disclosures for a contingent liability is made when there is a possible
obligation or a present obligation that may, but probably will not,
require an outflow of resources. Where there is a possible obligation
or a present obligation that the likelihood of outflow of resources is
remote, no provision or disclosure is made.
Mar 31, 2012
A) Nature of Operations
KCL Infra Projects Limited ("the Company") was incorporated on 21st
July, 1995 at Jaipur, India. The main object of the company is to
carry on business of Construction & Infrastructure Activities. In
addition to that company is also engaged in dealings of Shares &
securities, derivatives and other investments.
b) Basis of Accounting
The financial statements have been prepared and presented under the
historical cost convention on accrual basis of accounting, in
accordance with the accounting principles generally accepted in India
and comply with the applicable accounting standards issued by the
Institute of Chartered Accountants of India (ICAI) and the relevant
provisions of the Companies Act, 1956, to the extent applicable. Except
where otherwise stated, the accounting principles have been consis-
tently applied, presentation and disclosure of financial statements The
financial statements of the Company have been prepared and presented
for the year ended March 31, 2012, as per the format prescribed under
the revised Schedule VI notified under the Companies Act, 1956. The
adoption of revised Schedule VI does not impact recognition and
measurement principles followed for the preparation of the financial
statements. However, it has significant impact on presentation and
disclosures made in the financial statements. The Company has also
reclassified the previous year figures in accordance with the
requirements applicable in the current year.
c) Fixed Assets
Fixed Assets are stated at cost less accumulated depreciation.
Depreciation is provided on Straight Line method on pro-rata basis at
the rates, which are prescribed in Schedule XIV of the Companies Act,
1956.
d) Investments
Long term investments are stated at cost and provision is made to
recognize any diminution in value, other than that of a temporary
nature.
e) Inventories
Inventories are valued as follows:
Constructions & Infrastructure
Projects in progress are valued at cost.
- Equity Shares & Units of Mutual Fund
Equity Shares & Units of Mutual Fund are valued at Cost or realizable
value, whichever is lower. Cost is determined on a First in First out
Basis.
f) Revenue recognition
Revenue is recognized to the extent that it is probable that the
economic benefits will flow to the Company and the revenue can be
reliably measured. As per the ICAI Announcement, ac- counting for
derivative contracts, other than those covered under AS-11, are marked
to market on a portfolio basis, and the profit & loss is charged to the
statement of profit & loss Account . Previously company adopted the
policy for charging these instrument on the basis of contract note via
purchases & sale.
g) Income taxes
Tax expense comprises both current and deferred taxes. Current
income-tax is measured at the amount expected to be paid to the tax
authorities in accordance with the Indian Income Tax Act. Deferred
income taxes reflect the impact of current year timing differences
between tax- able income and accounting income for the year and
reversal of timing differences of earlier years. Deferred tax is
measured based on the tax rates and the tax laws enacted or
substantively enacted at the balance sheet date.
Deferred tax assets are recognized 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.
Deferred tax assets are recognized on carry forward of unabsorbed
depreciation and tax losses only if there is virtual certainty that
such deferred tax assets can be realized against future taxable
profits.
h) Earnings per Share
Basic earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the number
of equity shares outstanding during the period.
i) Segment Reporting Policies Identification of segments:
The Company''s operating businesses are organized and managed separately
according to the nature of products and services provided, with each
segment representing a strategic business unit that offers different
products and serves different markets.
Allocation of common costs:
Common allocable costs are allocated to each segment according to the
relative contribution of each segment to the total common costs.
Segment Policies:
The Company prepares its segment information in conformity with the
accounting policies adopted for preparing and presenting the financial
statements of the Company as a whole, j) Provisions and Contingent
Liabilities
The Company recognizes a provision where there is present obligation as
a result of a past event that probably requires an outflow of resources
and a reliable estimate can be made of the amount of the obligation.
Disclosures for a contingent liability is made when there is a possible
obligation or a present obligation that may, but probably will not,
require an outflow of resources. Where there is a possible obligation
or a present obligation that the likelihood of outflow of resources is
remote, no provision or disclosure is made.
Mar 31, 2010
1. Nature of Operations
KCL Infra Projects Limited (Formerly Kadamb Constructions Limited)
("the Company") was incorpo- rated on 21st July, 1995 at Jaipur, India.
The main object of the company is to carry on business of Construction
Activities. In addition to that company is also engaged in dealings of
Shares & secu- rities, derivatives and other investments.
2. Basis of Accounting
The financial statements have been prepared and presented under the
historical cost convention on accrual basis of accounting, in
accordance with the accounting principals generally accepted in India
and comply with the applicable accounting standards issued by the
Institute of Chartered Accountants of India (ICAI) and the relevant
provisions of the Companies Act, 1956, to the extent applicable. Except
where otherwise stated, the accounting principles have been consis-
tently applied.
3. Fixed Assets
Fixed Assets are stated at cost less accumulated depreciation.
Depreciation is provided on Straight Line method on prorata basis at
the rates, which are prescribed in Schedule XIV of the Companies Act,
1956.
4. Investments
Long term investments are stated at cost and provision is made to
recognize any diminution in value, other than that of a temporary
nature.
5. Inventories
Inventories are valued as follows: æ Equity Shares & Units of Mutual
Fund Equity Shares & Units of Mutual Fund are valued at Cost or
realizable value, whichever is lower. Cost is determined on a First in
First out Basis.
6. Revenue recognition
The Company is carrying on business in Derivative segment. The Company
has recorded the turnover on the basis of Contract Notes of Purchase &
Sell.
7. Income taxes
Tax expense comprises both current and deferred taxes. Current
income-tax is measured at the amount expected to be paid to the tax
authorities in accordance with the Indian Income Tax Act. Deferred
income taxes reflect the impact of current year timing differences
between taxable income and accounting income for the year and reversal
of timing differences of earlier years. Deferred tax is measured based
on the tax rates and the tax laws enacted or substantively enacted at
the balance sheet date. Deferred tax assets are recognised 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 realised. Deferred tax assets are recognised on carry forward of
unabsorbed depreciation and tax losses only if there is virtual
certainty that such deferred tax assets can be realised against future
taxable profits.
8. Earnings per Share
Basic earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the number
of equity shares outstanding during the period. The Earn- ing per share
for the previous year has been restated as the number of equity shares
outstanding increases as a result of the share split during the current
financial year.
9. Provisions and Contingent Liabilities
The Company recognizes a provision where there is present obligation as
a result of a past event that probably requires an outflow of resources
and a reliable estimate can be made of the amount of the obligation.
Disclosures for a contingent liability is made when there is a possible
obligation or a present obligation that may, but probably will not,
require an outflow of resources. Where there is a possible obligation
or a present obligation that the likelihood of outflow of resources is
remote, no provision or disclosure is made.