Mar 31, 2015
1. Basis of Accounting & Revenue Recognition:
a) The financial statements of the Company have been prepared in
accordance with the Generally Accepted Accounting Principles in India
(Indian GAAP) to comply with the Accounting Standards notified under
Section 211(3C) of the Companies Act, 1956 ("the 1956 Act") (which
continues to be applicable in respect of Section 133 of the Companies
Act, 2013("the 2013Act") in terms of General Circular 15/2013 Dated
September 13, 2013 Act, as applicable.
b) The Company follows the mercantile system of accounting and
recognizes income & expenditure on an accrual basis except those with
significant uncertainties.
2. Fixed assets:
Fixed Assets are stated at cost of acquisition and inclusive of
freight, taxes and incidental expenses related to acquisition of the
said fixed assets.
3. Depreciation:
Depreciation on tangible assets is provided on the straight line method
as per Schedule II of the Companies Act, 2013 over the useful lives of
assets estimated by the Management.
4. Inventories:
Inventories are valued at the lower of the cost & estimated net
realizable value.
5. Retirement benefits:
As per the Company's management, the Gratuity and Provident Fund are
not provided in the books as the same is not applicable.
6. Provisions, Contingent Liabilities and Contingent Assets:
A provision is recognized if, as a result of a past event, the Company
has a present legal obligation that is reasonably estimate, and it is
probable that an outflow of economic benefit will be required to settle
the obligation. Provisions are determined by the best estimate of the
outflow of economic benefits required to settle the obligation at the
reporting date. Where no reliable estimate can be made, a disclosure is
made as contingent liability. A disclosure for contingent liability is
also made when there is a possible obligation or a present obligation
that may, but probably will not, require an outflow of resources. Where
there is a possible obligations or a present obligation in respect of
which the likelihood of outflow of resources is remote, no provision or
disclosure is made.
7. Earnings Per Sharer-
Basic and diluted earnings per share are computed in accordance with
Accounting Standard-20. Basic earnings per share is calculated by
dividing the net profit or loss after tax for the year attributable to
equity shareholders by the weighted average number of equity shares
outstanding during the year. Diluted earnings per equity share are
computed using the weighted average number of equity shares and
dilutive potential equity shares outstanding during the year, except
where the results are anti-dilutive.
8. Cash Flow Statement
Cash flow are reported using indirect method, whereby profit before tax
is adjusted for the effects of the transactions of a non-cash nature,
any deferrals or accruals of past or future operating cash receipts or
payments and item of income or expenses associated with investing or
financing cash flows. The cash flow from operating, investing and
financing activities of the Company is segregated.
9. Capital Issue Expenditure:
Company has write off Preliminary and Pre-operative expenses partially
during the year.
Mar 31, 2014
The accounts have been prepared in accordance with the Mandatory
Accounting Standards issued by the Institute of Chartered Accountants
of India and other applicable provisions of the other Laws.
(A) METHOD OF ACCOUNTING:
The Accounts of the Company are prepared under the Historical Cost
Convention using the Mercantile Method of Accounting.
(B) FIXED ASSETS:
Company has no fixed Assets at the end of financial year hence question
of its valuation does not arise.
(C) DEPRECIATION:
The question of providing Depreciation in absence of Fixed Assets does
not arise.
(D) INVESTMENTS:
The investments are shown at cost and are inclusive of related
expenses. Income from these deposit & Investment is accounted on
Receipt basis from the available information.
(E) INVENTORY:
Company h as not done any Commercial activities during the year hence
no details of Inventory is provided.
(F) RETIREMENT BENEFITS:
Gratuity and Provident Fund are not provided in the books since not
applicable.
(G) CAPITAL ISSUE EXPENDITURE:
Company has not written off Preliminary and Pre-operative expenses
during the year in absence of Commercial Activities or any Income.
Mar 31, 2012
The accounts have been prepared in accordance with the Mandatory
Accounting Standards issued by the Institute of Chartered Accountants
of India and other applicable provisions of the other Laws.
(A) METHOD OF ACCOUNTING:
The Accounts of the Company are prepared under the Historical Cost
Convention using the Mercantile Method of Accounting.
(B) FIXED ASSETS:
Company has no fixed Assets at the end of financial year hence question
of its valuation does not arise.
(C) DEPRECIATION:
The question of providing Depreciation in absence of Fixed Assets does
not arise.
(D) INVESTMENTS:
The investments are shown at cost and are inclusive of related
expenses. Income from these deposit & Investment is accounted on
Receipt basis from the available information.
(E) INVENTORY:
Company h as not done any Commercial activities during the year hence
no details of Inventory is provided.
(F) RETIREMENT BENEFITS:
Gratuity and Provident Fund are not provided in the books since not
applicable.
(G) CAPITAL ISSUE EXPENDITURE:
Company has not written off Preliminary and Pre-operative expenses
during the year in absence of Commercial Activities or any Income.
Mar 31, 2010
The accounts have been prepared in accordance with the Mandatory
Accounting Standards issued by the Institute of Chartered Accountants
of India and other applicable provisions of the other Laws.
(A) METHOD OF ACCOUNTING:
The Accounts of the Company are prepared under the Historical Cost
Convention using the Mercantile Method of Accounting.
(B) FIXED ASSETS:
Company has no fixed Assets at the end of Financial year hence question
of its valuation does not arise.
(C) DEPRECIATION:
The question of providing Depreciation in absence of Fixed Assets does
not arise.
(D) INVESTMENTS:
The investments are shown at cost and is inclusive of related expenses.
Income from these deposit & Investment is accounted on Receipt basis
from the available information.
(E) INVENTORY:
Company h as not done any Commercial activities during the year hence
no details of Inventory is provided.
(F) RETIREMENT BENEFITS:
Gratuity and Provident Fund are not provided in the books since not
applicable.
(I) CAPITAL ISSUE EXPENDITURE :
Company has not written off Preliminary and Pre-operative expenses
during the year in absence of Commercial Activities or any Income.