Mar 31, 2015
2.1 Basis of preparations
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India. The
company has prepared these financial statements to comply in all
material respect with the accounting standards notified under the
Companies (Accounting Standards) Rules 2006 (as amended) and the
relevant provision of the Companies Act 2013. The financial statements
have been prepared on an accrual basis and under the historical cost
conventions. The accounting policies adopted in the preparation of the
financial statements are consistent with those of the previous year.
2.2 Revenue Recognition:
a) Income from Shares & Securities trading is recognized as income or
loss on the date of actual trade and are shown net of brokerage
expenses.
b) The dividend income is accounted for when the right to receive the
payment is established whereas, interest income and other income is
accounted on accrual basis.
c) The amount recognized as sale is exclusive of sales tax / VAT and
are net of returns and excludes freight and other charges and accounted
for at-time when the invoices are raised.
2.3 Fixed Assets- Tangibles
Tangible Assets are stated at cost of acquisition less accumulated
depreciation and amortization. All costs relating to the acquisition
and installation of tangible assets are capitalized and include
borrowing costs directly attributable to acquisition of tangible assets
upto the date the asset is put to use.
2.4 Depreciation- Tangibles
Depreciation on tangible assets is provided to the extent of
depreciable amount on straight line method over the useful life of such
assets as specified in Schedule II to the Companies Act, 2013.
2.5 Investments:
Investments are either classified as current or long term based on
Management's intention at the time of purchase. Investments that are
intended to be held for one year or more are classified as long term
investments and investments that are intended to be held for less than
one year are classified as current investments. Long term investments
are carried at cost less provisions made for permanent diminution in
the value, if any. Current investments are valued at the lower of cost
and fair value of each investment individually.
2.6 Stock in trade
The Stock of Raw Material is valued at cost. The Stock of Traded and
Finished Goods are valued at lower of cost or market value.
2.7 Taxes on Income:
a) Income-tax expense comprises current tax (i.e. amount of tax for the
period determined in accordance with income tax laws) and deferred tax
charge or credit (reflecting the tax effect of timing differences
between accounting income and taxable income for the period).
b) Deferred tax is recognized for all the timing differences, subject
to the consideration of prudence in respect of deferred tax assets.
Deferred tax assets are recognized and carried forward only to the
extent that there is a reasonable certainty that sufficient future
taxable income will be available against which such deferred tax assets
can be realized.
Deferred tax assets and liabilities are measured using the tax rates
and tax laws that have been enacted or substantively enacted by the
Balance Sheet date.
2.8 Provisions, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as results of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognized but are disclosed in Notes to
Accounts, while contingent assets are neither recognized nor disclosed
in the financial statements.
2.9 Provisions, Contingent Liabilities and Contingent Assets
Basic Earnings per Share is calculated by dividing the net profit after
tax for the year attributable to equity shareholders of the Company by
the weighted average number of shares outstanding during the year.
Mar 31, 2014
1.1 Basis of preparations
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India. The
company has prepared these financial statements to comply in all
material respect with the accounting standards notified under the
Companies (Accounting Standards) Rules 2006 (as amended) and the
relevant provision of the Companies Act 1956. The financial statements
have been prepared on an accrual basis and under the historical cost
conventions. The accounting policies adopted in the preparation of the
financial statements are consistent with those of the previous year.
2.2 Revenue Recognition:
a) Income from Shares & Securities trading is recognized as income or
loss on the date of actual trade and are shown net of brokerage
expenses.
b) The dividend income is accounted for when the right to receive the
payment is established whereas, interest income and other income is
accounted on accrual basis.
c) The amount recognized as sale is exclusive of sales tax / VAT and
are net of returns and excludes freight and other charges and accounted
for at time when the invoices are raised.
2.3 Investments:
Investments are either classified as current or long term based on
Managements intention at the time of purchase. Investments that are
intended to be held for one year or more are classified as long term
investments and investments that are intended to be held for less than
one year are classified as current investments. Long term investments
are carried at cost less provisions made for permanent diminution in
the value, if any. Current investments are valued at the lower of cost
and fair value of each investment individually.
2.4 Stock in trade
The Stock of Raw Material is valued at cost. The Stock of Traded and
Finished Goods are valued at lower of cost or market value.
2.5 Taxes on Income:
a) Income-tax expense comprises current tax (i.e. amount of tax for the
period determined in accordance with income tax laws) and deferred tax
charge or credit (reflecting the tax effect of timing differences
between accounting income and taxable income for the period).
b) The deferred tax charge or credit and the corresponding deferred tax
liabilities or assets are recognized using the tax rates that have been
enacted or substantively enacted at the balance sheet date. Deferred
tax assets are recognized only to the extent that there is reasonable
certainty that the assets can be realized in future.
2.6 Provisions, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as results of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognized but are disclosed in Notes to
Accounts, while contingent assets are neither recognized nor disclosed
in the financial statements.
2.7 Cash Flow Statement
Cash flow statements are prepared in accordance with the "Indirect
Method" as explained in the Accounting Standard (AS) 3 Â Cash Flow
Statements as prescribed under section 211(3C) of the Companies Act
1956.
2.8 Provisions, Contingent Liabilities and Contingent Assets
Basic Earning per Share is calculated by dividing the net profit after
tax for the year attributable to equity shareholders of the Company by
the weighted average number of shares outstanding during the year.
*Based on the information so far available with the company, there are
no dues payable to MSME as defined in the Micro, Small and Medium
Enterprises Development Act, 2006
Mar 31, 2013
1.1 Basis of preparations
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India. The
company has prepared these financial statements to comply in all
material respect with the accounting standards notified under the
Companies (Accounting Standards) Rules 2006 (as amended) and the
relevant provision of the Companies Act 1956. The financial statements
have been prepared on an accrual basis and under the historical cost
conventions. The accounting policies adopted in the preparation of the
financial statements are consistent with those of the previous year.
1.2 Revenue Recognition:
a) Income from Shares & Securities trading is recognized as income or
loss on the date of actual trade and are shown net of brokerage
expenses.
b) The dividend income is accounted for when the right to receive the
payment is established whereas, interest income and other income is
accounted on accrual basis.
c) The amount recognized as sale is exclusive of sales tax/VAT and are
net of returns and excludes freight and other charges and accounted for
at time when the invoices are raised.
1.3 Investments:
Investments are either classified as current or long term based on
Managements intention at the time of purchase. Investments that are
intended to be held for one year or more are classified as long term
investments and investments that are intended to be held for less than
one year are classified as current investments. Long term investments
are carried at cost less provisions made for permanent diminution in
the value, if any. Current investments are valued at the lower of cost
and fair value of each investment individually.
1.4 Stock in trade
The Stock of quoted shares is valued at lower of cost or market value.
1.5 Taxes on Income:
a) Income-tax expense comprises current tax (i.e. amount of tax for the
period determined in accordance with income tax laws) and deferred tax
charge or credit (reflecting the tax effect of timing differences
between accounting income and taxable income for the period).
b) The deferred tax charge or credit and the corresponding deferred tax
liabilities or assets are recognized using the tax rates that have been
enacted or substantively enacted at the balance sheet date. Deferred
tax assets are recognized only to the extent that there is reasonable
certainty that the assets can be realized in future.
1.6 Provisions, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as results of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognized but are disclosed in Notes to
Accounts, while contingent assets are neither recognized nor disclosed
in the financial statements.
1.7 Cash Flow Statement
Cash flow statements are prepared in accordance with the "Indirect
Method" as explained in the Accounting Standard (AS) 3 - Cash Flow
Statements as prescribed under section 211(3C) of the Companies Act
1956.
1.8 Provisions, Contingent Liabilities and Contingent Assets
Basic Earnings per Share is calculated by dividing the net profit after
tax for the year attributable to equity shareholders of the Company by
the weighted average number of shares outstanding during the year.
Mar 31, 2011
1.Accounting Policies :-
a. The Company follows the Prudential Norms for Asset Classification,
Income Recognition, Accounting Standards, and Provisioning for bad and
doubtful debts as prescribed by the Reserve Bank of India for Non
Banking Financial companies.
b. Accounts have been prepared on historical cost and accrual basis
c. Invertible are valued at cost. (Refer Note No. '4' given below}
d. Dividend Income is accounted for in the fear in which it is
declared
e. Fructose& Sale of Shares & Other Sews are accounted for on the
basis of Bill dates received from the brokers.
f. Long Term Investment are stated at cost. Provisioning for loss in
the value ,of investments is made on the basis of permanent impairment
in each security '
g. Income-tax expense comprises current tax and deferred tax charge or
credit. The deferred tax as** and deferred tax liability is canted by
applying tax rate and tax laws that have been enacted or substantively
enacting the Balance Sheet date. Deferred tax assets arising mainly on
account of brought forward losses and unabsorbed depreciation under tax
Laws are recognized, only if there is a virtual certainty of its
realization, supported by convening evidence. Deferred tax aspirin
account of other timing differences are reckonable only to the extent
there is a enable certainty of its realisation. At each Balance Sheet
date, the carrying amount of deferred tax assets are reviewed to
reassure realisation.
Mar 31, 2010
A. The company follows the prudential Norms for Asset Classification,
Income Recognition, Accounting Standards, and Provisioning for bad and
doubtful debts as prescribed by the Reserve Bank of India for Non
Banking Financial Companies.
b. Accounts have been prepared on historical cost and accrual basis.
c. Inventories are valued at cost. (Refer Note No. '4' given below).
d. Dividend Income is accounted for in the year in which it is
declared.
e. Purchase & Sale of Shares & Other Securities are accounted for on
the basis of Bill dates received from the brokers.
f. Long Term Investments are stated at cost Provisioning for loss in
the value of investments is made on the basis of permanent impairment m
each security.
g. Income tax expense comprises current tax and deferred tax charge or
credit. The deferred tax asset and deferred tax liability is calculated
by applying tax rate and tax laws that have been enacted or
substantively enacted by the Balance Sheet date. Deferred tax assete
arising mainly on account of brought forward losses and unabsorbed
depredation under tax laws, are recognized, only if there is a virtual
certainty of its realisation, supported by convincing evidence.
Deferred tax assets on account of other timing differences are
recognised only to the extent there is a reasonable certainty of its
realisation. At each Balanced Sheet date, the carrying amount of
deferred tax assets are reviewed to reassure realisation.