Mar 31, 2015
3 Summary of signifitunt accounting policies 3.1 Basis for Accounting
These financial statements are prepared in accordance with Indian
Generally Accepted Accounting Principles (GAAP) under the historical
cost convention on the accrual basis except for certain financial
instruments which are measured at fair values GAAP comprises mandatory
accounting standards as prescribed under section 133 of the companies
Act, 2013 (Act) read with Rule 7 of the Companies (Accounts) Rules.
2014, the provisions of the Act (to the extent notified) and guidelines
issued by the Securities and Exchange Board of lndia (SEBI). Accounting
policies have been consistently applied except where a newly issued
accounting standard iv initially adopted or a revision to an existing
accounting standard requires a change in the accounting policy hitherto
in use
3.2 Use of Estimates
The preparation of the financial statements in conformity with GAAP
requires management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosures relating to
contingent liabilities as at the date of the financial statements and
reported amounts of income and expenses during the period Examples of
such estimates include compulation of percentage of completion which
requires the Company to estimate the efforts or costs expended to date
as a proportion of the total efforts or costs to he expended,
provisions for doublful debts, future obligations under employee
retirement benefit plans, income taxes and the useful lives of fixed
tangible assets and intangible assets. Accounting estimates could
change from period to period. Actual results could differ from those
estimates. Appropriate changes tn estimates are made as the Management
becomes aware of changes in circumstances surrounding the estimates.
Changes in estimates are reflected in the financial statements in the
period in Which changes are made and. if material, their effects are
disclosed in the notes to the financial statements
3.3 Revenue Recognition
Revenue from operations includes Interest on loan provided, Interest on
FDR. Sale of shares and other. Interest income is recognized on accrual
basis.
3.4 Fixed assets
Fixed assets are stated at cost of acquisition, construction, amount
added on revaluation less accumulated depreciation. Cost includes taxes,
duties, freight end other incidental expense related to acquisition.
improvements and installation of assets Subsequent expenditures related
to an item of fixed asset are added to its hook value only if they
increase the future benefits from, the existing asset beyond its
previously assessed standard of performance.
3.5 Depreciation on fixed assets
Depreciation on fixed assets has been provided on written down value
method as per the method Specified in schedule II to the Companies Act,
2013, and in the manner prescribed therein.
3.6 Provisions and contingencies
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources
which can be reliably measured, Contingent Liabilities are not
recognized but are disclosed in the notes. Contingent Assets are
neither recognized nor disclosed in fi financial statements.
3.7 Investments
Investments that are readily realizable and are intended to be held for
not more than one year from the date on which such investments are made
arc classified us current investments, All other investments are
classified as long term investments Current investment arc carried at
cost or fair value, whichever is lower. Long-term investments are
carried at cost. However, diminution in the value of the long term in
vestments, other than temporary, is duly accounted for in the
statements of profit and loss.
3.8 Earning per share
Profit as per Statement for profit and loss Account 264352
Number of equity Shares outstanding at the end of the year 5550000
Earning per share (basic) 0.048
Earning per share (diluted) 0.048
3.9 Deferred tax
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of The Income Tax Act, 1961.
Deferred tax resulting from "Timing Difference" between book and
taxable profits is accounted for using, the tax rates and laws that
have been enacted Of substantively enacted as on the Balance Sheets
date The deferred tax assets are recognized and. carry forward only to
the extent that there is reasonable certainty that the assets Will be
realized in future.
Mar 31, 2014
The financial statements are prepared under the historical cost
convention on an accrual basis of accounting m accordance with the
generally accepted accounting principles. Accounting Standards notified
under Section 21 l(3C) ol the Compames Act. 1956 and the relevant
provisions thereof
3.2 Use of Estimates
The preparation of financial statements in conformity with Indian GAAP
requires the management to make judgements, estimates and assumptions
that affect the reported amounts of revenues, expenses, assets and
liabilities and the disclosure of contingent liabilities at the end of
the reporting period Although these estimates are based on the
mangement's best knowledge of current events and actions, uncertainty
about these assumptions and estimate could result in the outcomes
requiring a material adjustment to the carrying amounts of assets or
liabilities in future periods
3.3 Revenue Recognition
Revenue from operations incudes Interst on loan provided . Interest on
FDR . Sale of shares and other Interest income is recognised on accrual
basis.
3 4 Fixed assets
Fixed assets are stated at cost of acquisition,construction, amount
added on revaluation less accumulated depreciation Cost includes taxes,
duties. freight and other incidental expenses related to acquisition,
improvements and installation of assets Subsequent expenditures related
to an item of fixed asset are added to its book value only if they
increase the future benefits from the existing asset beyond its
previously assessed standard of performance
3 5 Depreciation on fixed assets
Depreciation on fixed assets has been provided on written down value
method at the rates specified in the schedule XIV to the Companies Act.
1956. and in the manner prescribed therein
3.6 Provisions and contingencies
Provisions involving substantial degree of estimation in measurement
arc recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources
which can be reliably measured. Contingent Liabilities are not
recognized but are disclosed in the notes Contingent Assets are neither
recognized nor disclosed in the financial statements.
3.7 Investments
Investments that are readily realisable and are intended to be held for
not more than one year from the date on which such investments arc made
are classified as current investments All other investments are
classified as long term investments Current investments are carried at
cost or fair value, whichever is lower Long-term investments are
carried at cost However, diminution in the value of the long term
investments, other than temporary, is duly accounted for in the
statement of profit and loss
3.8 Earning per share
Profit as per statement for profit and loss Account 102773
Number of equity shares outstanding at the end of the year 5550000
Earning per share (basic) 0019
Earning per share (diluted) 0.019
3.9 Deferred tax
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of 1 he Income lax Act. 1961
Deferred tax resulting from "Timing Difference'' between book and
taxable profits is accounted for using the tax rates and laws that have
been enacted or substantively enacted as on the Balance Sheets date The
deferred lax assets are recognized and carry forward only to the extent
that there is reasonable certainty that the assets will be realized in
future
Mar 31, 2013
3.1 Basis for Accounting
The financial statements are prepared under the historical cost
convention on an accrual basis of accounting m accordance with the
generally accepted accounting principles. Accounting Standards notified
under Section 21 l(3C) ol the Compames Act. 1956 and the relevant
provisions thereof
3.2 Use of Estimates
The preparation of financial statements in conformity with Indian GAAP
requires the management to make judgements, estimates and assumptions
that affect the reported amounts of revenues, expenses, assets and
liabilities and the disclosure of contingent liabilities at the end of
the reporting period Although these estimates are based on the
mangement's best knowledge of current events and actions, uncertainty
about these assumptions and estimate could result in the outcomes
requiring a material adjustment to the carrying amounts of assets or
liabilities in future periods
3.3 Revenue Recognition
Revenue from operations incudes Interst on loan provided . Interest on
FDR . Sale of shares and other Interest income is recognised on accrual
basis.
3 4 Fixed assets
Fixed assets are stated at cost of acquisition,construction, amount
added on revaluation less accumulated depreciation Cost includes taxes,
duties. freight and other incidental expenses related to acquisition,
improvements and installation of assets Subsequent expenditures related
to an item of fixed asset are added to its book value only if they
increase the future benefits from the existing asset beyond its
previously assessed standard of performance
3 5 Depreciation on fixed assets
Depreciation on fixed assets has been provided on written down value
method at the rates specified in the schedule XIV to the Companies Act.
1956. and in the manner prescribed therein
3.6 Provisions and contingencies
Provisions involving substantial degree of estimation in measurement
arc recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources
which can be reliably measured. Contingent Liabilities are not
recognized but are disclosed in the notes Contingent Assets are neither
recognized nor disclosed in the financial statements.
3.7 Investments
Investments that are readily realisable and are intended to be held for
not more than one year from the date on which such investments arc made
are classified as current investments All other investments are
classified as long term investments Current investments are carried at
cost or fair value, whichever is lower Long-term investments are
carried at cost However, diminution in the value of the long term
investments, other than temporary, is duly accounted for in the
statement of profit and loss
3.8 Earning per share
Profit as per statement for profit and loss Account 514629
Number of equity shares outstanding at the end of the year 5550000
Earning per share (basic) 0.093
Earning per share (diluted) 0.093
3.9 Deferred tax
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of 1 he Income lax Act. 1961
Deferred tax resulting from "Timing Difference'' between book and
taxable profits is accounted for using the tax rates and laws that have
been enacted or substantively enacted as on the Balance Sheets date The
deferred lax assets are recognized and carry forward only to the extent
that there is reasonable certainty that the assets will be realized in
future
Mar 31, 2012
3.1 Basis for Accounting
The financial statements are prepared under the historical cost
convention on an accrual basis of accounting m accordance with the
generally accepted accounting principles. Accounting Standards notified
under Section 21 l(3C) ol the Compames Act. 1956 and the relevant
provisions thereof
3.2 Use of Estimates
The preparation of financial statements in conformity with Indian GAAP
requires the management to make judgements, estimates and assumptions
that affect the reported amounts of revenues, expenses, assets and
liabilities and the disclosure of contingent liabilities at the end of
the reporting period Although these estimates are based on the
mangement's best knowledge of current events and actions, uncertainty
about these assumptions and estimate could result in the outcomes
requiring a material adjustment to the carrying amounts of assets or
liabilities in future periods
3.3 Revenue Recognition
Revenue from operations incudes Interst on loan provided . Interest on
FDR . Sale of shares and other Interest income is recognised on accrual
basis.
3 4 Fixed assets
Fixed assets are stated at cost of acquisition,construction, amount
added on revaluation less accumulated depreciation Cost includes taxes,
duties. freight and other incidental expenses related to acquisition,
improvements and installation of assets Subsequent expenditures related
to an item of fixed asset are added to its book value only if they
increase the future benefits from the existing asset beyond its
previously assessed standard of performance
3 5 Depreciation on fixed assets
Depreciation on fixed assets has been provided on written down value
method at the rates specified in the schedule XIV to the Companies Act.
1956. and in the manner prescribed therein
3.6 Provisions and contingencies
Provisions involving substantial degree of estimation in measurement
arc recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources
which can be reliably measured. Contingent Liabilities are not
recognized but are disclosed in the notes Contingent Assets are neither
recognized nor disclosed in the financial statements.
3.7 Investments
Investments that are readily realisable and are intended to be held for
not more than one year from the date on which such investments arc made
are classified as current investments All other investments are
classified as long term investments Current investments are carried at
cost or fair value, whichever is lower Long-term investments are
carried at cost However, diminution in the value of the long term
investments, other than temporary, is duly accounted for in the
statement of profit and loss
3.8 Earning per share
Profit as per statement for profit and 614386 596689
loss Account
Number of equity shares outstanding at 5550000 5550000
the end of the year
Earning per share (basic) 0.111 0.108
Earning per share (diluted) 0.111 0.108
3.9 Deferred tax
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of 1 he Income lax Act. 1961
Deferred tax resulting from "Timing Difference'' between book and
taxable profits is accounted for using the tax rates and laws that have
been enacted or substantively enacted as on the Balance Sheets date The
deferred lax assets are recognized and carry forward only to the extent
that there is reasonable certainty that the assets will be realized in
future
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