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Accounting Policies of KCL Infra Projects Ltd. Company

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: ¦ 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.

 
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