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Accounting Policies of Kyra Landscapes Ltd. Company

Mar 31, 2014

Not Available.


Mar 31, 2013

(i) Method Of Accounting

a) The financial statements are prepared under the historical cost convention in accordance with the generally accepted accounting principles and the requirements of the Companies Act, 1956.

b) The Company generally follows accrual system of accounting and recognises significant items of Income 6 Expenditure on accrual basis.

(ii) Investments:

Long term investments are stated at cost. Provision for diminution in the value of long-term investments is made only if such a decline is other than temporary.

The Company has made investment in shares of ALAG NIRMAN PVT LTD to the extent of 54.55% of the total equity share capital of the said company thereby becoming Holding company.

(iii) Depreciation and Amortisation : Depreciation on fixed assets is provided in the manner prescribed in Schedule XIV to the Companies Act, 1956. Fictious Asset /Expenditures which were erstwhile carried forward in the Balance Sheet under the head Miscellaneous Expenditure to the extend not written off were fully written off with the advent of AS26.

(iv) Employees Retirement Benefits: Gratuity, Provident fund and other Retirement scheme are not applicable and hence the Company has not provided for the same.


Mar 31, 2012

(i) Method Of Accounting

a) The financial statements are prepared under the historical cost convention in accordance with the generally accepted accounting principles and the requirements of the Companies Act, 1956.

b) The Company generally follows accrual system of accounting and recognises significant items of Income & Expenditure on accrual basis.

(ii) Investments:

Long term investments are stated at cost. Provision for diminution in the value of long-term investments is made only if such a decline is other than temporary.

(iii) Depreciation and Amortisation:

Depreciation on fixed assets is provided in the manner prescribed in Schedule XIV to the Companies Act, 1956. Fictious Asset /Expenditures which were erstwhile carried forward in the Balance Sheet under the head Miscellaneous Expenditure to the extend not written off were fully written off with the advent of AS26.

(iv) Employees Retirement Benefits:

Gratuity, Provident fund and other Retirement scheme are not applicable and hence the Company has not provided for the same.


Mar 31, 2011

(i) Method Of Accounting

a) The financial statements are prepared under the historical cost convention in accordance with the generally accepted accounting principles and the requirements of the Companies Act, 1956.

b) The Company generally follows accrual system of accounting and recognises significant items of Income & Expenditure on accrual basis.

(ii) Investments:

Investments are valued at cost and any diminution in value, unless it is of permanent nature is not recognised.

(iii) Amortisation of Miscellaneous Expenditure:

a) Preliminary expenses are amortised over a period of five years

(iv) Employees Retirement Benefits:

Gratuity, Provident fund and other Retirement scheme are not applicable and hence the Company has not provided for the same.


Mar 31, 2009

1. General

i) The Accounts have been prepared on historical cost basis ignoring Changes, if any in the purchasing power of money.

ii) All revenue and expenses are accounted on accrual basis.

2. Taxation

i) Provision for current tax is made after taking into consideration benefits admissible under the provision of the Income Tax Act, 1961.

ii) Deferred Tax resulting from timing difference between book and taxable profit is accounted for using tax rates and law that have been enacted as on the Balance Sheet Date. Deferred Tax Asset, if any. is recognized and carried forward only to the extent that there is a reasonable certainly that the assets will be realized in future.

3. Borrowing Cost.

Borrowing cost directly attributable to the acquisition or construction of fixed asset are capitalized as part of the cost of the asset, up to the date the asset is put to use, Other borrowing costs are changed to the profit & loss account in the year in which they are incurred.

4. Investment

Long term investments are stated at cost. Provision for diminution in value of long term investment is made only if such a decline is other than temporary.

5. Income Recognition

Income earned during the year is from Consultancy fees and is shown in the Profit & Loss Account.

 
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