Mar 31, 2018
1. Significant accounting policies ;
1.1 The financial statements as at and for the year ended March 31, 2018 have been prepared in accordance with Indian Accounting Standards (âInd ASâ) notified under the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016.
1.2 Basis of measurement
The financial statements have been prepared on a historical cost convention and on an accrual basis, except for certain items that are measured at fair value as required by relevant Ind AS:
(i) Financial assets and financial liabilities measured at fair value;
(ii) Defined benefit and other long-term employee benefits, if any.
1.3 Functional Currency and Foreign currency
No Foreign currency transaction has taken place during the relevant period.
1.4 Use of Estimates and Judgments:
The preparation of these financial statements in conformity with the recognition and measurement principles of Ind AS requires the management of the Company to make estimates and assumptions that affect the reported balances of assets and liabilities, disclosures relating to contingent liabilities as at the date of the financial statements and the reported amounts of income and expense for the periods presented.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and future periods are affected.
1.5 Revenue recognition
1.5.1 Interest income from a financial asset is recognised when it is probable that the economic benefits will flow to the company and the amount of income can be measured reliably. Interest income is accured on a time basis, by reference to the principle outstanding and the effective interest rate applicable, which is the rate exactly discounts the estimated future cash receipts through expected life of the financial asset to that assetâs net carrying amount on initial recognition.
1.5.2 Commission Income is recognized when it has accrued.
1.6 Leases
No Operating & Finance lease has taken by the company.
1.7 Cost recognition
Costs and expenses are recognised when incurred and have been classified according to their primary nature.
1.8 Income Tax
Tax expenses comprise current tax (i.e. amount of tax for the period determined in accordance with the income tax-law) and deferred tax charge or credit (reflecting the tax effects of timing deference between accounting income and taxable income for the year).
Current tax is measured at the amount expected to be paid to the taxation authorities, using applicable tax rates and tax laws. Deferred income tax is recognised using the balance sheet approach.
Deferred income tax assets and liabilities are recognised for deductible and taxable temporary differences arising between the tax base of assets and liabilities and their carrying amount, except when the deferred income tax arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and affects neither accounting nor taxable profit or loss at the time of the transaction.
Deferred income tax asset are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and the carry forward of unused tax credits and unused tax losses can be utilised. The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilised.
Deferred tax assets and liabilities are measured using substantively enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to be received or settled.
1.9 Financial Instruments
Financial assets and liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. Financial assets and liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value measured on initial recognition of financial asset or financial liability.
1.9.1 Cash and cash equivalents: Cash and cash equivalents considers all highly liquid financial instruments, which are readily convertible into known amounts of cash that are subject to an insignificant risk of change in value and having original maturities of three months or less from the date of purchase, to be cash equivalents. Cash and cash equivalents consist of balances with banks which are unrestricted for withdrawal and usage.
1.9.2 Financial assets at amortised cost: Financial assets are subsequently measured at amortised cost if these financial assets are held within a business whose objective is to hold these assets in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
1.9.3 Equity Instruments (Share capital): Ordinary shares:- Ordinary shares are classified as equity. Incremental costs directly attributable to the issuance of new ordinary shares are recognised as a deduction from equity, net of any tax effect (if any).
1.10 Property, plant and equipment
Property, plant and equipment are stated at cost, less accumulated depreciation (other than freehold land) and impairment loss, if any. The cost of tangible assets comprises purchase price and any cost directly attributable to bringing the assets to its working condition for its intended use.
1.11 Earnings per share
Basic earnings per share are computed by dividing profit or loss attributable to equity shareholders of BSE Limited by the weighted average number of equity shares outstanding during the period. The company did not have any potentially dilutive securities in any of the periods presented.
Mar 31, 2016
Basis of Accounting
The financial statements are prepared under the historical cost convention on the concept of a going concern, in accordance with the Generally Accepted Accounting Principles and mandatory Accounting Standards as notified under Rule 7 of the Companies (Accounts) Rules, 2014 which is similar to provisions and presentational requirements of the Companies Act, 2013.
2. Changes in Accounting policies
The accounting policies adopted are consistent with those of previous financial year . The management assures that there has been no change in accounting policies as compared to that of previous year which would have any significant effect on these financials.
3. Recognition of Income
Sales represents invoiced Value of goods Sold. Other Income is recognized and accounted for on accrual basis unless otherwise stated.
4. Tangible Fixed Assets
Fixed assets are stated at cost less accumulated depreciation and impairment losses, if any. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use. Borrowing costs relating to acquisition of fixed assets which take substantial period of time to get ready for its intended use are also included to the extent they relate to the period till such assets are ready to be put to use.
5. Taxes on Income
Current tax is determined and provided for on the amount of taxable income at the applicable rates for the relevant financial year. Deferred Tax Assets and Liabilities (DTA/ DTL) are recognized, subject to consideration of prudence, on timing differences, being the difference between taxable income and accounting income that originate in one period and is capable of reversal in one or more subsequent periods. The DTA is recognized only to the extent that there is reasonable certainty of sufficient future profits against which such DTA can be realized.
6. Contingent Liability
The contingent liabilities, if any, are disclosed in the Notes to Accounts. Provision is made in the accounts, if it becomes probable that there will be outflow of resources for settling the obligation.
7. Events occurring after the balance sheet date
Adjustments to assets and liabilities are made for events occurring after the balance sheet date to provide additional information materially affecting the determination of the amounts of assets or liabilities relating to conditions existing at the balance sheet date.
8 . Earnings Per Share
Basic earnings per share are calculated by dividing the net profit or loss for the year/ period attributable to equity shareholders by the weighted average number of equity shares outstanding during the year/ period.
9. Use of estimates
The preparation of financial statements, in conformity with generally accepted accounting principles, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities on the date of the financial statements and the results of operations during the reporting year. Actual results could differ from those estimates. Any revision to accounting estimates is recognized prospectively in current and future periods.
10 . Foreign Currency Transaction
Transactions denominated in foreign currencies are normally recorded at the exchange rate prevailing at the time of the transaction. Monetary items denominated in foreign currencies at the yearend are translated at the rate ruling at the yearend rate.
11 Depreciation
Depreciation on Fixed Assets is provided to the extent of depreciable amount on the Written Down Value (WDV) Method. Depreciation is provided based on useful life of the assets as prescribed in Schedule II to the Companies Act, 2013.
Mar 31, 2015
1 Basis of Accounting
The financial statements are prepared under the historical cost
convention on the concept of a going concern, in accordance with the
Generally Accepted Accounting Principles and mandatory Accounting
Standards as notified under Rule 7 of the Companies (Accounts) Rules,
2014 which is similar to provisions and presentational requirements of
the Companies Act, 2013.
2 Changes in Accounting policies
The accounting policies adopted are consistent with those of previous
financial year. The management assures that there has been no change in
accounting policies as compared to that of previous year which would
have any significant effect on these financials.
3 Recognition of Income
Sales represents invoiced Value of goods Sold. Other Income is
recognised and accounted for on accrual basis unless otherwise stated.
4 Tangible Fixed Assets
Fixed assets are stated at cost less accumulated depreciation and
impairment losses, if any. Cost comprises the purchase price and any
attributable cost of bringing the asset to its working condition for
its intended use. Borrowing costs relating to acquisition of fixed
assets which take substantial period of time to get ready for its
intended use are also included to the extent they relate to the period
till such assets are ready to be put to use.
5 Taxes on Income
Current tax is determined and provided for on the amount of taxable
income at the applicable rates for the relevant financial year.
Deferred Tax Assets and Liabilities (DTA/ DTL) are recognised, subject
to consideration of prudence, on timing differences, being the
difference between taxable income and accounting income that originate
in one period and is capable of reversal in one or more subsequent
periods. The DTA is recognised only to the extent that there is
reasonable certainty of sufficient future profits against which such
DTA can be realised.
6 Contingent Liability
The contingent liabilities, if any, are disclosed in the Notes to
Accounts. Provision is made in the accounts, if it becomes probable
that there will be outflow of resources for settling the obligation.
7 Events occurring after the balance sheet date
Adjustments to assets and liabilities are made for events occurring
after the balance sheet date to provide additional information
materially affecting the determination of the amounts of assets or
liabilities relating to conditions existing at the balance sheet date.
8 Earnings Per Share
Basic earnings per share are calculated by dividing the net profit or
loss for the year/ perio d attributable to equity shareholders by the
weighted average number of equity shares outstanding during the year/
period.
9 sUse of estimates
The preparation of financial statements, in conformity with generally
accepted accounting principles, requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and the disclosure of contingent assets and liabilities on
the date of the financial statements and the results of operations
during the reporting year. Actual results could differ from those
estimates. Any revision to accounting estimates is recognised
prospectively in current and future periods.
10 Foreign Currency Transaction
Transactions denominated in foreign currencies are normally recorded at
the exchange rate prevailing at the time of the transaction. Monetary
items denominated in foreign currencies at the year end are translated
at the rate ruling at the year end rate.
11 Depreciation
Depreciation on Fixed Assets is provided to the extent of depreciable
amount on the Written Down Value (WDV) Method. Depreciation is provided
based on useful life of the assets as prescribed in Schedule II to the
Companies Act, 2013.
Mar 31, 2014
1 Basis of Accounting
The financial statements are prepared under the historica l cos t con
vention on the concept of a going concern, in accordance with the
Generally Accepted Accounting Principles and mandatory Accounting
Standards as notified under the Companies (Accounting Standards) Rules,
2006 and as per the provisions and presentational requirements of the
Companies Act, 1956.
2 Changes in Accounting policies
The accounting policies adopted are consistent with those of pre vious
financial year. The manage ment assures that there has been no change
in accounting policies as compared to that of previous year which would
have any significant effect on these financials.
3 Recognition of Income
Sales represents invoiced Value of goods Sold. Other Incom e is re cogn
ised and accounted for on ac crual basis unless otherwise stated.
4 Tangible Fixed Assets
Fixed assets are stated at cost less accumulated depreci ation and
impairment losses, if any. Cost comprises the purchase price and any
attributable cost of bringing the asset to its working condition for
its intended use. Borrowing costs relating to acquisition of fixed
assets which take substantial period of time to get ready for its
intended use are also included to the extent they relate to the period
till such assets are ready to be put to use.
4 (A)- Depreciation on tangible fixed assets
Depreciation on Fixed Assts has been provided for 6 Month, as the
business of the company has commenced from 01st Oct 2012. The method of
the depreciation adopted by the company on the basis of written down
value method (W.D.V.) at the rates prescribed under Schedule XIV of the
Companies ACT 1956.
5 Taxes on Income
Current tax is determined and provided for on the amount of tax able
income at the applicable rates for the relevant financial year.
Deferred Tax Assets and Liabilities (DTA/ DTL) are recognised, subject
to consideration of prudence, on timing differences, being the
difference between taxable income and accounting income that originate
in one period and is capable of reversal in one or more subsequent
periods. The DTA is recognised only to the extent that there is
reasonable certainty of sufficient future profits against which such
DTA can be realised.
6 Contingent Liability
The contingent liabilities, if any, are disclosed in the Notes to Acco
unts. Provision is made in the acco unts, if it becomes probable that
there will be outflow of resources for settling the obligation.
7 Events occurring after the balance sheet date
Adjustments to assets and liabilities are made for events occurri ng
after the balance sheet date to provide additional information
materially affecting the determination of the amounts of assets or
liabilities relating to conditions existing at the balance sheet date.
8 Earnings Per Share
Basic earnings per share are calculated by dividing the net p rofit o r
loss for the year/ period attributab le to equity shareholders by the
weighted average number of equity shares outstanding during the year/
period.
9 Use of estimates
The preparation of financial statements, in conformity with generally
accepted accounting principles, requires management to make estimates
and assumptions that affect the reported amounts of assets and
liabilities and the disclosure of contingent assets and liabilities on
the date of the financial statements and the results of operations
during the reporting year. Actual results could differ from those
estimates. Any revision to accounting estimates is recognised
prospectively in current and future periods.
10 Foreign Currency Transaction
Transactions denominated in foreign currencies are normally record ed
at the exchan ge rate prevailin g at the time of the transaction.
Monetary items denominated in foreign currencies at the year end are
translated at the rate ruling at the year end rate.
Mar 31, 2013
1. GENERAL
The Financial Statements have been prepared under the historical cost
convention in accordance with the generally accepted accounting
principles in India and the provisions of the Companies Act, 1956 as
adopted consistently by the company.
2. ACCOUNTING POLICIES
(a) Income and Expenses are being accounted for an accrual basis.
(b) Fixed Assets are stated at cost less Depreciation. Cost comprises
the purchase price and any attributable cost of bringing the assets to
working condition for its intended use.
(c) Depreciation is provided using the Written Download Value Method at
the rates and in the manner specified in Schedule XIV of the Companies
Act, 1956.
Mar 31, 2012
A.l BASIC FOR PREPARATION OF FINANCIAL STATEMENT
The financial statements are prepared under the historical cost
convention, in accordance With generally accepted accounting principles
and the provision of the companies Act, 1956, as adopted consistently
by the company.
A.2 RECOGNITION OF INCOME AND EXPENDITURE
All income and expenditure having material bearing on the financial
statements are recognized on the accrual basis.
A.3 RECOGNITION OF EXPENSES
Expenses are accounted on the accrual basis and provisions are made for
all known Losses and liabilities.
A.4 TAXATION
Current Tax: Provision for current taxes on income is made on the basis
of the actual liabilities for the year.
Deferred Tax : in accordance with Accounting Standard -22 " Accounting
for Taxes on income, issued by the Institute of Chartered Accountants
of India , the deferred tax for timing difference between the book and
tax profits for the year is accounted for using the tax rates and laws
that have been enacted for subsequently enacted as of the balance sheet
date. Deferred Tax liability arising from timing differences are
Recognized to the extent there is reasonable certainty that liability
can be realized in future.
Mar 31, 2011
A BASIC FOR PREPARATION OF FINANCIAL STATEMENT
The financial statements are prepared under the historical cost
convention, in accordance With generally accepted accounting principles
and the provision of the companies Act, 1956, as adopted consistently
by the company,
A.2 RECOGNITION OF INCOME AND EXPENDITURE
All income and expenditure having material bearing on the financial
statements are '' recognized on the accrual basis.
A.3 RECOGNITION OF EXPENSES
Expenses are accounted oh the accrual basis and provisions are made for
alt known Losses and liabilities.
A.4 TAXATION
Current Tax: Provision for current taxes on income is made on the basis
of the actual liabilities for the year.
Deferred Tax : in accordance with Accounting Standard -22 "
Accounting for Taxes on income, issued by the Institute of Chartered
Accountants of Indio , the deferred tax for timing difference between
the book and tax profits for the year is accounted for using the tax
rates and laws that have been enacted for subsequently enacted as of
the balance sheet date. Deferred Tax liability arising from timing
differences are Recognized to the extent there is reasonable certainty
that liability can be realized in future.
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