Mar 31, 2015
The significant accounting policies adopted, and which have been
consistently followed, are as follows :
a) Basis of preparation: - The financial statements are presented in
INR and prepared using historical cost and in accordance with
accounting standards generally accepted in India. (GAAP)
b) Method of Accounting: - Company follows mercantile system of
accounting.
c) Fixed Assets: - Fixed Assets are stated at cost less accumulated
depreciation. The cost comprises of basic price, Excise Duty and any
attributable cost for bringing the asset to the working condition for
its intended use.
d) Depreciation: - Depreciation on Fixed Assets has been provided on
WDV method on the basis of remaining useful life of the assets in the
manner specified in schedule II of the Companies Act, 2013. Due to this
reserve has been hit by INR 205,926/- e) Inventories: - Finished Goods
are stated at the lower of cost and net realizable value. Cost
comprises of direct materials, and other attributable overheads. Net
realizable value is based on estimated selling prices. Raw material,
packing material and baggasse are valued at cost. Cost is arrived at
using the First-In, First-Out (FIFO) method and comprises invoice value
plus applicable landing charges less discounts.
f) Staff end-of-service gratuity: - Staff end-of-service gratuity is
accounted on payment basis.
g) Revenue
i) Sale of goods: - Revenue represents the amount invoiced, net of
discounts and returns, for goods delivered during the year.
ii) Interest income: - Interest income is recognised on an accrual
basis using the effective interest method, when it is probable that the
economic benefits will flow to the company and the interest can be
measured reliably.
iii) Godown Rent :- Godown Rent Income is recognised on an accrual
basis, when it is probable that the economic benefits will flow to the
company and the Rent has been accounted when it became realisable.
h) Leases: - Leases under which substantially all the risks and rewards
of ownership of the related asset remain with the lessor are classified
as operating leases and the lease payments are charged to profit and
loss.
i) Foreign currency transactions: - Transactions in foreign currencies
are translated into INR at the rate of exchange ruling on the date of
the transactions. Gains or losses resulting from foreign currency
transactions have been considered at the time of preparing financial
statements.
j) Cash and cash equivalents: - Cash and cash equivalents comprise
cash, bank current accounts and bank deposits free of encumbrance with
a maturity date of twelve months or less, from the date of deposit
except dividend accounts balances.
l) Estimated amount of Contracts remaining to be executed on Capital
account is not determinable; however capitalised as WIP (Plant &
Machinery) amounting to INR 13,53,342 (Previous year NIL).
Mar 31, 2014
The significant accounting policies adopted, and which have been
consistently followed, are as follows :
a) Basis of preparation: - The financial statements are presented in
INR and prepared using historical cost and in accordance with
accounting standards generally accepted in India. (GAAP)
b) Method of Accounting: - Company follows mercantile system of
accounting.
c) Fixed Assets: - Fixed Assets are stated at cost less accumulated
depreciation. The cost comprises of basic price, Excise Duty and any
attributable cost for bringing the asset to the working condition for
its intended use.
d) Depreciation: - Depreciation on Fixed Assets has been provided on
WDV method at the rates and in the manner specified in schedule XIV of
the Companies Act, 1956.
e) Inventories: - Finished Goods are stated at the lower of cost and
net realizable value. Cost comprises of direct materials, and other
attributable overheads. Net realizable value is based on estimated
selling prices. Raw material, packing material and baggasse are valued
at cost. Cost is arrived at using the First-In, First-Out (FIFO) method
and comprises invoice value plus applicable landing charges less
discounts.
f) Staff end-of-service gratuity: - Staff end-of-service gratuity is
accounted on payment basis.
g) Revenue
i) Sale of goods: - Revenue represents the amount invoiced, net of
discounts and returns, for goods delivered during the year.
ii) Interest income: - Interest income is recognised on an accrual
basis using the effective interest method, when it is probable that the
economic benefits will flow to the company and the interest can be
measured reliably.
h) Leases: - Leases under which substantially all the risks and rewards
of ownership of the related asset remain with the lessor are classified
as operating leases and the lease payments are charged to profit and
loss.
i) Foreign currency transactions: - Transactions in foreign currencies
are translated into INR at the rate of exchange ruling on the date of
the transactions. Gains or losses resulting from foreign currency
transactions have been considered at the time of preparing financial
statements.
j) Cash and cash equivalents: - Cash and cash equivalents comprise
cash, bank current accounts, and bank deposits free of encumbrance with
a maturity date of twelve months or less, from the date of deposit
except dividend accounts balances.
l) Estimated amount of Contracts remaining to be executed on Capital
account and provided for  NIL (Previous year NIL)
Mar 31, 2013
The significant accounting policies adopted, and which have been
consistently followed, are as follows:
a) Basis of preparation - The financial statements are presented in INR
and prepared using historical cost and in accordance with accounting
standards generally accepted in India. (GAAP)
b) Method of Accounting - Company follows mercantile system of
accounting.
c) Fixed Assets - Fixed Assets are stated at cost less accumulated
depreciation. The cost comprises of basic price, Excise Duty and any
attributable cost for bringing the asset to the working condition for
its intended use.
During the year company has disposed off Plant and machinery & Air
conditioners situated at Chakan Unit along with Truck due to non
operation of Chakan Unit remaining block of fixed assets has been
transferred to Kurkumbh unit at its gross block.
d) Depreciation - Depreciation on Fixed Assets has been provided on WDV
method at the rates and in the manner specified in schedule XIV of the
Companies Act, 1956.
e) Inventories - Finished Goods are stated at the lower of cost and net
realizable value. Cost comprises of direct materials, and other
attributable overheads. Net realizable value is based on estimated
selling prices.
Raw material and packing material are valued at cost. Cost is arrived
at using the First-In, First-Out (FIFO) method and comprises invoice
value plus applicable landing charges less discounts.
f) Staff end-of-service gratuity - Staff end-of-service gratuity is
accounted on payment basis.
g) Revenue
i) Sale of goods - Revenue represents the amount invoiced, net of
discounts and returns, for goods delivered during the year.
ii) Interest income - Interest income is recognised on an accrual basis
using the effective interest method, when it is probable that the
economic benefits will flow to the company and the interest can be
measured reliably.
h) Leases - Leases under which substantially all the risks and rewards
of ownership of the related asset remain with the lessor are classified
as operating leases and the lease payments are charged to profit and
loss.
i) Foreign currency transactions - Transactions in foreign currencies
are translated into INR at the rate of exchange ruling on the date of
the transactions.
Gains or losses resulting from foreign currency transactions have been
considered at the time of preparing financial statements.
j) Cash and cash equivalents - Cash and cash equivalents comprise cash,
bank current accounts, and bank deposits free of encumbrance with a
maturity date of twelve months or less, from the date of deposit except
dividend accounts balances.
Mar 31, 2010
1.1 FIXED ASSETS : Gross Block of Fixed Assets are stated at cost. Cost
comprise the basic price, Excise Duty and any attributable cost for
bringing the asset to its working condition for its intended use.
1.2 DEPRECIATION : Depreciation on Fixed Assets has been provided on
WDV method at the rates and in the manner specified in Schedule XIV of
the Companies Act, 1956.
1.3 Mercantile System of Accounting is followed.
1.4 Inventories
a.Finished Goods are valued at cost or Market Price whichever is less.
b. Raw Material and packing Material are valued at Cost. Inventories
has been taken as valued & certified by management
1.5 Gratuity has been accounted for on payment basis.
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