Mar 31, 2014
A. Accounting Convention :
Income and expenditure except otherwise stated are recognised on
accrual basis. The accounts have been prepared on the basis of the
historical cost and on the accounting principles of a going concern.
b. Fixed Assets :
Fixed Assets are stated at cost less depreciation. Cost includes
freight, duties, taxes and all other related costs including cost of
financing of borrowed funds upto the date of installation
identified/allocated for the assets.
c. Depreciation :
Depreciation is provided on written down value method for assets
acquired up to 31.03.1983. In respect of the assets acquired on or
after 01.04.1983 depreciation has been provided on straight line method
in the following manner:
For assets acquired from 01.04.1983 to 15.12.1993 at the rates
specified in schedule XIV to the Companies Act, 1956. For assets
acquired on or after 16.12.1993 at the rates specified in schedule XIV
to the Companies Act, 1956.
d. Investments :
Long Term Investments are stated at cost. Provision for diminution in
value of such investments is made if the same is permanent in nature.
e. Employee Benefits :
Employee benefits are accrued in the year services are rendered by the
employees.
Contributions to defined contribution scheme such as Provident Fund
etc. are recognized as and when incurred.
Long term and short term employee benefits under defined scheme such as
contribution to gratuity is determined at close of the year at present
value of the amount payable using actuarial valuation techniques.
Actuarial gain and losses are recognized in the year when they arise.
f. Taxation :
Income Tax expense comprises current tax and deferred tax charge or
release. The deferred tax charge or credit is recognised using current
tax rates. Deferred tax assets on account of unabsorbed depreciation
and carry forward losses as per Income Tax Act are recognized only if
there is virtual certainty of realisation of such assets. Other
deferred tax assets are recognised only to the extent there is
reasonable certainty of realisation in future.
g. Contingent Liabilities :
Contingent liabilities have not been provided for and have been
disclosed by way of notes.
2.1 The Company has only one class of equity shares having a par value
of Rs. 10.each. Each share has one voting right.
2.2 The Company has only one class of preference shares having a par
value of Rs. 100 each. Dividend on such preference shares are
non-cumulative.
These preference shares are redeemable on or before 31.3.2020. Such
Preference share has no voting right.
2.3 There is no movement in the number of equity shares and preference
shares outstanding and amount of equity share capital and preference
share capital as at 31st March 2014.
2.4 In the year 2011-12, 8300 shares (each Rs. 5 paid) were forfeited
after duly called for payment.
2.5 Shares in the company held by each shareholder holding more than 5
percent shares specifying the number of shares held is mentioned below
:
Mar 31, 2013
A. Accounting Convention :
Income and expenditure except otherwise stated are recognised on
accrual basis. The accounts have been prepared on the basis of the
historical cost and on the accounting principles of a going concern.
b. Fixed Assets :
Fixed Assets are stated at cost less depreciation. Cost includes
freight, duties, taxes and all other related costs including cost of
financing of borrowed funds upto the date of installation identified/
allocated for the assets.
c. Depreciation :
Depreciation is provided oh written down value method for assets
acquired up to 31.03.1983. In respect of the assets acquired on or
after 01.04.1983 depreciation has been provided on straight line method
in the following manner:
For assets acquired from 01.04.1983 to 15.12.1993 at the rates
specified in schedule XIV to the Companies Act, 1956. For assets
acquired on or after 16.12.1993 at the rates specified in schedule XIV
to the Companies Act, 1956.
d. investments :
Long Term Investments are stated at cost. Provision for diminution in
value of such investments is made if the same is permanent in nature.
e. Employee Benefits :
Employee benefits are accrued in the year services are rendered by the
employees.
Contributions to defined contribution scheme such as Provident Fund
etc. are recognized as and when incurred.
Long term employee benefits under defined scheme such as contribution
to gratuity is determined at close of the year at present value of the
amount payable using actuarial valuation techniques.
Actuarial gain & losses are recognized in the year when they arise.
f. Taxation:
Income Tax expense comprises current tax and deferred tax charge or
release. The deferred tax charge or credit is recognised using current
tax rates. Deferred tax assets on account of unabsorbed depreciation
and carry forward losses as per Income Tax Act are recognized only if
there is virtual certainty of realisation of such assets. Other
deferred tax assets are recognised only to the extent there is
reasonable certainty of realisation in future.
g. Contingent Liabilities :
Contingent liabilities have not been provided for and have been
disclosed by way of notes.
Mar 31, 2012
A. Accounting Convention :
Income and expenditure except otherwise stated are recognised on
accrual basis. The accounts have been prepared on the basis of the
historical cost and on the accounting principles of a going concern.
b. Fixed Assets :
Fixed Assets are stated at cost less depreciation. Cost includes
freight, duties, taxes and all other related costs including cost of
financing of borrowed funds upto the date of installation identified/
allocated for the assets.
c. Depreciation :
Depreciation is provided on written down value method for assets
acquired up to 31.03.1983. In respect of the assets acquired on or
after 01.04.1983 depreciation has been provided on straight line method
in the following manner:
For assets acquired from 01.04.1983 to 15.12.1993 at the rates
specified in schedule XIV to the Companies Act, 1956. For assets
acquired on or after 16.12.1993 at the rates specified in schedule XIV
to the Companies Act, 1956.
d. Investments :
Long Term Investments are stated at cost. Provision for diminution in
value of such investments is made if the same is permanent in nature.
e. Employee Benefits:
Employee benefits are accrued in the year services are rendered by the
employees.
Contributions to defined contribution scheme such as Provident Fund
etc. are recognized as and when incurred.
Long term employee benefits under defined scheme such as contribution
to gratuity is determined at close of the year at present value of the
amount payable using actuarial valuation techniques.
Actuarial gain & losses are recognized in the year when they arise.
f. Taxation :
Income Tax expense comprises current tax and deferred tax charge or
release. The deferred tax charge or credit is recognised using current
tax rates. Deferred tax assets on account of unabsorbed depreciation
and carry forward losses as per Income Tax Act are recognized only if
there is virtual certainty of realisation of such assets. Other
deferred tax assets are recognised only to the extent there is
reasonable certainty of realisation in future.
g. Contingent Liabilities :
Contingent liabilities have not been provided for and have been
disclosed by way of notes.
Mar 31, 2010
1) Accounting Convention:
Income and expenditure except otherwise stated are recognised on
accrual basis. The accounts have been prepared on the basis of the
historical cost and on the accounting principles of a going concern.
2) Fixed Assets:
Fixed Assets are stated at cost less depreciation. Cost includes
freight, duties, taxes and all other related costs including cost of
financing of borrowed funds upto the date of installation
identified/allocated for the assets.
3) Depreciation:
Depreciation is provided on straight line method at the rates specified
in Schedule XIV to the Companies Act, 1956.
4) Investments:
Long Term Investments are stated at cost. Provision for diminution in
value of such investments is made if the same is permanent in nature.
5) Employee Benefits:
Employee benefits are accrued in the year services are rendered by the
employees.
Contributions to defined contribution scheme such as Provident Fund
etc. are recognized as and when incurred.
Long term employee benefits under defined scheme such as contribution
to gratuity is determined at close of the year at present value of the
amount payable using actuarial valuation techniques.
Actuarial gain & losses are recognized in the year when they arise.
6) Taxation:
Income Tax expense comprises current tax and deffered tax. The deffered
tax charge or credit is recognised using current tax rates. Deffered
tax assets on account of unabsorbed depreciation and carry forward
losses as per Income Tax Act are recognized only if there is virtual
certainty of realisation of such assets. Other deffered tax assets are
recognised only to the extent there is reasonable certainty of
realisation in future.
7) Miscellaneous Expenditure:
Advance against capital goods transferred from amalgamating Company is
written off in ten equal installments as per Scheme of amalgamation
sanctioned by the Hon'bie High Court at Kolkata.
8) Contingent Liabilities:
Contingent liabilities have not been provided for and have been
disclosed by way of notes.
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article