Mar 31, 2015
1. Accounting Convention:
The Financial statements are prepared as a going concern under the
historical cost convention on accrual basis and in accordance with the
applicable accounting standards issued by the Institute of Chartered
Accountants of India.
2. Fixed Assets:
a) Fixed Assets are stated at their cost of acquisition comprising of
the purchase price and any attributable cost of bringing the asset to
working condition for the intended use.
b) Depreciation is provided on Straight line method on pro-rata basis
in accordance with the useful life prescribed under Schedule II of the
Companies Act, 2013.
c) The Carrying amount of assets are reviewed at each balance sheet
date when required to assess whether they are recorded in excess of
their recoverable amounts and where carrying values exceed the
estimated recoverable amount, assets are written down to their
recoverable amount.
3. Inventories:
a) Packing Materials, Stores, Spares and Consumables are valued at
cost, calculated on "First-in-First-Out (FIFO) "basis, which either
equal to or Less than the realizable value. Items held for use in the
production of inventories are not written down below cost if the
finished products in which they will be incorporated are expected to be
sold at or above cost.
b) Finished goods and Work-in-process are valued at lower of the cost
or net realizable value. In respect of finished goods, cost includes
material, labour and proportion of appropriate overheads and excise
duty.
4. Revenue recognition:
Revenues are recognized on accrual basis. Sales are recognized
exclusive of Excise Duty and Sales Tax.
5. Retirement Benefits:
a) The Company's contribution to Provident Fund is recognized on
accrual basis.
b) Gratuity and Leave Encashment Liability is provided on the basis of
actuarial valuation at the end of each financial year.
6. Deferred Taxation:
Deferred Tax resulting from timing differences between book and tax
profit is accounted for under the liability method, at the current rate
of tax, to the extent that the timing differences are expected to
crystallize.
7. Contingencies:
Loss arising from claims, litigation, assessments, fines, penalties etc,
are provided for when it is probable that a liability may be incurred
and the amount can be reasonably estimated.
Mar 31, 2014
1. Accounting Convention:
The Financial statements are prepared as a going concern under the
historical cost convention on accrual basis and in accordance with the
applicable accounting standards issued by the Institute of Chartered
Accountants of India.
2. Fixed Assets:
a) Fixed Assets are stated at their cost of acquisition comprising of
the purchase price and any attributable cost of bringing the asset to
working condition for the intended use.
b) Depreciation is provided on Straight line method on pro-rata basis
in accordance rates prescribed under Schedule XIV of the Companies Act,
1956.
c). The Carrying amount of assets are reviewed at each balance sheet
date when required to assess whether they are recorded in excess of
their recoverable amounts and where carrying values exceed the
estimated recoverable amount, assets are written down to their
recoverable amount.
3. Inventories:
a) Packing Materials, Stores, Spares and Consumables are valued at
cost, calculated on "First-in-First-Out (FIFO)" basis, which either
equal to or Less than the realizable value. Items held for use in the
production of inventories are not written down below cost if the
finished products in which they will be incorporated are expected to be
sold at or above cost.
b) Finished goods and Work-in-process are valued at lower of the cost
or net realizable value. In respect of finished goods, cost includes
material, labour and proportion of appropriate overheads and excise
duty.
4. Revenue Recognition:
Revenues are recognized on accrual basis. Sales are recognized
exclusive of Excise Duty and Sales Tax.
5. Retirement Benefits:
a) The Company''s contribution to Provident Fund is recognized on
accrual basis.
b) Gratuity and Leave Encashment Liability is provided on the basis of
actuarial valuation at the end of each financial year.
6. Deferred Taxation:
Deferred Tax resulting from timing differences between book and tax
profit is accounted for under the liability method, at the current rate
of tax, to the extent that the timing differences are expected to
crystallize.
7. Contingencies:
Loss arising from claims, litigation, assessments, fines, penalties
etc., are provided for when it is probable that a liability may be
incurred and the amount can be reasonably estimated.
Mar 31, 2013
1. Accounting Convention:
The Financial statements are prepared as a going concern under the
historical cost convention on accrual basis and in accordance with the
applicable accounting standards issued by the Institute of Chartered
Accountants of India.
2. Fixed Assets:
a) Fixed Assets are stated at their cost of acquisition comprising of
the purchase price and any attributable cost of bringing the asset to
working condition for the intended use.
b) Depreciation is provided on Straight line method on pro-rata basis
in accordance rates prescribed under Schedule XIV of the Companies Act,
1956.
c). The Carrying amount of assets are reviewed at each balance sheet
date when required to assess whether they are recorded in excess of
their recoverable amounts and where carrying values exceed the
estimated recoverable amount, assets are written down to their
recoverable amount.
3. Inventories:
a) Raw Materials, Packing Materials, Stores, Spares and Consumables are
valued at cost, calculated on "First-in-First- Out (FIFO)" basis, which
either equal to or Less than the realizable value. Items held for use
in the production of inventories are not written down below cost if the
finished products in which they will be incorporated are expected to be
sold at or above cost.
b) Finished goods and Work-in-process are valued at lower of the cost
and net realizable value. In respect of finished goods, cost includes
material, labour and proportion of appropriate overheads and excise
duty.
4. Revenue Recognition:
Revenues are recognized on accrual basis. Sales are recognized
exclusive of Excise Duty and Sales Tax.
5. Retirement Benefits:
a) The Company''s contribution to Provident Fund is recognized on
accrual basis.
b) Gratuity and Leave Encashment Liability is provided on the basis of
actuarial valuation at the end of each financial year.
6. Deferred Taxation:
Deferred Tax resulting from timing differences between book and tax
profit is accounted for under the liability method, at the current rate
of tax, to the extent that the timing differences are expected to
crystallize.
7. Contingencies:
Loss arising from claims, litigation, assessments, fines, penalties
etc., are provided for when it is probable that a liability may be
incurred and the amount can be reasonably estimated.
Mar 31, 2012
1. Accounting Convention:
The Financial statements are prepared as a going concern under the
historical cost convention on accrual basis and in accordance with the
applicable accounting standards issued by the Institute of Chartered
Accountants of India. Even though the factory is under closure from
15th April'' 06 as per the closure Orders of the Pollution Control
Board, since the company is contesting the said order at higher legal
forum and confident of appropriate legal remedy for restart of the
factory. As on date of 31st March 2012, the Company is not a Going
Concern However as on date of this report, the Company is a going
concern as on the date of this Report and accordingly financials has
bee prepared.
2. Fixed Assets:
a) Fixed Assets are stated at their cost of acquisition comprising of
the purchase price and any attributable cost of bringing the asset to
working condition for the intended use.
b) Depreciation is provided on Straight line method on pro-rata basis
in accordance rates prescribed under Schedule XIV of the Companies Act,
1956.
c). The Carrying amount of assets are reviewed at each balance sheet
date when required to assess whether they are recorded in excess of
their recoverable amounts and where carrying values exceed the
estimated recoverable amount, assets are written down to their
recoverable amount.
3. inventories:
a) Raw Materials, Packing Materials, Stores, Spares and Consumables are
valued at cost, calculated on "First-in-First- Out (FIFO) "basis,
which either equal to or Less than the realizable value. Items held for
use in the production of inventories are not written down below cost if
the finished products in which they will be incorporated are expected
to be sold at or above cost.
b) Finished goods and Work-in-process are valued at lower of the cost
and net realizable value. In respect of finished goods, cost includes
material, labour and proportion of appropriate overheads and excise
duty.
4. Revenue recognition:
Revenues are recognized on accrual basis. Sales are recognized
exclusive of Excise Duty and Sales Tax.
5. Retirement Benefits:
a) The Company''s contribution to Provident Fund is recognized on
accrual basis.
b) Gratuity and Leave Encashment Liability is provided on the basis of
actuarial valuation at the end of each financial year.
6. Deferred Taxation:
Deferred Tax resulting from timing differences between book and tax
profit is accounted for under the liability method, at the current rate
of tax, to the extent that the timing differences are expected to
crystallize.
7. Contingencies.
Loss arising from claims, litigation, assessments, fines, penalties
etc., are provided for when it is probable that a liability may be
incurred and the amount can be reasonably estimated.
Mar 31, 2011
1. Accounting Convention:
The Financial statements are prepared as a going concern under the
historical cost convention on accrual basis and in accordance with the
applicable accounting standards issued by the Institute of Chartered
Accountants of India. Even though the factory is under closure from
15th April'' 06 as per the closure Orders of the Pollution Control
Board, since the company is contesting the said order at higher legal
forum and confident of appropriate legal remedy for restart of the
factory. As on date of 31st March 2011, the Company is not a Going
Concern. However as on date of this report, the Company is a going
concern as on the date of this Report and accordingly financials has
bee prepared.
2. Fixed Assets:
a) Fixed Assets are stated at their cost of acquisition comprising of
the purchase price and any attributable cost of bringing the asset to
working condition for the intended use.
b) Depreciation is provided on Straight line method on pro-rata basis
in accordance rates prescribed under Schedule XIV of the Companies Act,
1956.
c). The Carrying amount of assets are reviewed at each balance sheet
date when required to assess whether they are recorded in excess of
their recoverable amounts and where carrying values exceed the
estimated recoverable amount, assets are written down to their
recoverable amount.
3. Inventories:
a) Raw Materials, Packing Materials, Stores, Spares and Consumables are
valued at cost, calculated on "First-in-First- Out (FIFO) "basis,
which either equal to or Less than the realizable value. Items held for
use in the production of inventories are not written down below cost if
the finished products in which they will be incorporated are expected
to be sold at or above cost.
b) Finished goods and Work-in-process are valued at lower of the cost
and net realizable value. In respect of finished goods, cost includes
material, labour and proportion of appropriate overheads and excise
duty.
4. Revenue recognition:
Revenues are recognized on accrual basis. Sales are recognized
exclusive of Excise Duty and Sales Tax.
5. Retirement Benefits:
a) The Company''s contribution to Provident Fund is recognized on
accrual basis.
b) Gratuity and Leave Encashment Liability is provided on the basis of
actuarial valuation at the end of each financial year.
6. Deferred Taxation:
Deferred Tax resulting from timing differences between book and tax
profit is accounted for under the liability method, at the current rate
of tax, to the extent that the timing differences are expected to
crystallize.
7. Contingencies.
Loss arising from claims, litigation, assessments, fines, penalties
etc., are provided for when it is probable that a liability may be
incurred and the amount can be reasonably estimated.
Mar 31, 2010
1. Accounting Convention:
The Financial statements are prepared as a going concern under the
historical cost convention on accrual basis and in accordance with the
applicable accounting standards issued by the Institute of Chartered
Accountants of India. Even though the factory is . _er closure from
15th April'' 06 as per the closure Orders of the Pollution Control
Board, since the company is contesting the said order at higher legal
forum and confident of appropriate legal remedy for restart of the
factory. As on date of 31st March 2010, the Company is not a Going
Concern. However as on date of this report, the Company is a going
concern as on the date of this Report and accordingly financials has
bee prepared.
2. Fixed Assets:
a) Fixed Assets are stated at their cost of acquisition comprising of
the purchase price and any attributable cost of bringing the asset to
working condition for the intended use.
b) Depreciation is provided on Straight line method on pro-rata basis
in accordance rates prescribed under Schedule XIV of the Companies Act,
1956.
c). The Carrying amount of assets are reviewed at each balance sheet
date when required to assess whether they are recorded in excess of
their recoverable amounts and where carrying values exceed the
estimated recoverable amount, assets are written down to their
recoverable amount.
3. Inventories:
a) Raw Materials, Packing Materials, Stores, Spares and Consumables are
valued at cost, calculated on "First-in-First- Out (FIFO) "basis,
which either equal to or Less than the realizable value. Items held for
use in the production of inventories are not written down below cost if
the finished products in which they will be incorporated are expected
to be sold at or above cost.
b) Finished goods and Work-in-process are valued at lower of the cost
and net realizable value. In respect of finished goods, cost includes
material, labour and proportion of appropriate overheads and excise
duty.
4. Revenue recognition:
Revenues are recognized on accrual basis. Sales are recognized
exclusive of Excise Duty and Sales Tax.
5. Retirement Benefits:
a) The Company''s contribution to Provident Fund is recognized on
accrual basis.
b) Gratuity and Leave Encashment Liability is provided on the basis of
actuarial valuation at the end of each financial year.
6. Deferred Taxation:
Deferred Tax resulting from timing differences between book and tax
profit is accounted for under the liability method, at the current rate
of tax, to the extent that the timing differences are expected to
crystallize.
7. Contingencies.
Loss arising from claims, litigation, assessments, fines, penalties
etc., are provided for when it is probable that a liability may be
incurred and the amount can be reasonably estimated.
Mar 31, 2009
1. Accounting Convention:
The Financial statements are prepared as a going concern under the
historical cost convention on accrual basis and in accordance with the
applicable accounting standards issued by the Institute of Chartered
Accountants of India. Even though the factory is under closure from
15th April'' 06 as per the closure Orders of the Pollution Control
Board, since the company is contesting the said order at higher legal
forum and confident of appropriate legal remedy for restart of the
factory. As on date of 31st March 2009, the Company is not a Going
Concern. However as on date of this report, the Company is a going
concern as on the date of this Report and accordingly financials has
been prepared.
2. Fixed Assets:
a) Fixed Assets are stated at their cost of acquisition comprising of
the purchase price and any attributable cost of bringing the asset to
working condition for the intended use.
b) Depreciation is provided on Straight line method on pro-rata basis
in accordance rates prescribed under Schedule XIV of the Companies Act,
1956.
c). The Carrying amount of assets are reviewed at each balance sheet
date when required to assess whether they are recorded in excess of
their recoverable amounts and where carrying values exceed the
estimated recoverable amount, assets are written down to their
recoverable amount.
3. Inventories:
a) Raw Materials, Packing Materials, Stores, Spares and Consumables are
valued at cost, calculated on "First-in-First- Out (FIFO) "basis,
which either equal to or Less than the realizable value. Items held for
use in the production of inventories are not written down below cost if
the finished products in which they will be incorporated are expected
to be sold at or above cost.
b) Finished goods and Work-in-process are valued at lower of the cost
and net realizable value. In respect of finished goods, cost includes
material, labour and proportion of appropriate overheads and excise
duty.
4. Revenue recognition:
Revenues are recognized on accrual basis. Sales are recognized
exclusive of Excise Duty and Sales Tax.
5. Retirement Benefits:
a) The Company''s contribution to Provident Fund is recognized on
accrual basis.
b) Gratuity and Leave Encashment Liability is provided on the basis of
actuarial valuation at the end of each financial year.
6. Deferred Taxation:
Deferred Tax resulting from timing differences between book and tax
profit is accounted for under the liability method, at the current rate
of tax, to the extent that the timing differences are expected to
crystallize.
7. Contingencies.
Loss arising from claims, litigation, assessments, fines, penalties
etc., are provided for when it is probable that a liability may be
incurred and the amount can be reasonably estimated.
Mar 31, 2008
1. Accounting Convention:
The Financial statements are prepared as a going concern under the
historical cost convention on accrual basis and in accordance with the
applicable accounting standards issued by the Institute of Chartered
Accountants of India. Even though the factory is under closure from
15th April'' 06 as per the closure Orders of the Pollution Control
Board, since the company is contesting the said order at higher legal
forum and confident of appropriate legal remedy for restart of the
factory. As on date of 31st March 2008, the Company is not a going
Concern. However as on date of this report, the Company is a going
concern as on the date of this Report and accordingly financials has
bee prepared.
2. Fixed Assets:
a) Fixed Assets are stated at their cost of acquisition comprising of
the purchase price and any attributable cost of bringing the asset to
working condition for the intended use.
b) Depreciation is provided on Straight line method on pro-rata basis
in accordance rates prescribed under Schedule XIV of the Companies Act,
1956.
c). The Carrying amount of assets are reviewed at each balance sheet
date when required to assess whether they are recorded in excess of
their recoverable amounts and where carrying values exceed the
estimated recoverable amount, assets are written down to their
recoverable amount.
d) Gratuity and Leave Encashment Liability is provided on the basis of
actuarial valuation at the end of each financial year.
3. Inventories:
a) Raw Materials, Packing Materials, Stores, Spares and Consumables are
valued at cost, calculated on "First-in-First- Out (FIFO) "basis,
which either equal to or Less than the realizable value. Items held for
use in the production of inventories are not written down below cost if
the finished products in which they will be incorporated are expected
to be sold at or above cost.
b) Finished goods and Work-in-process are valued at lower of the cost
and net realizable value. In respect of finished goods, cost includes
material, labour and proportion of appropriate overheads and excise
duty.
4. Revenue recognition:
Revenues are recognized on accrual basis. Sales are recognized
exclusive of Excise Duty and Sales Tax.
5. Retirement Benefits:
a) The Company''s contribution to Provident Fund is recognized on
accrual basis.
b) Gratuity and Leave Encashment Liability is provided on the basis of
actuarial valuation at the end of each financial year.
6. Deferred Taxation:
Deferred Tax resulting from timing differences between book and tax
profit is accounted for under the liability method, at the current rate
of tax, to the extent that the timing differences are expected to
crystallize.
7. Contingencies.
Loss arising from claims, litigation, assessments, fines, penalties
etc., are provided for when it is probable that a liability may be
incurred and the amount can be reasonably estimated.
Mar 31, 2007
1. Accounting Convention:
The Financial statements are prepared as a going concern under the
historical cost convention on accrual basis and in accordance with the
applicable accounting standards issued by the Institute of Chartered
Accountants of India. Even though the factory is under closure from
15th April'' 06 as per the closure Orders of the Pollution Control
Board, since the company is contesting the said order at higher legal
forum and confident of appropriate legal remedy for restart of the
factory. As on date of 31st March 2007, the Company is not a going
Concern. However as on date of this report, the Company is a going
concern as on the date of this Report and accordingly financials has
bee prepared.
2. Fixed Assets:
a) Fixed Assets are stated at their cost of acquisition comprising of
the purchase price and any attributable cost of bringing the asset to
working condition for the intended use.
b) Depreciation is provided on Straight line method on pro-rata basis
in accordance rates prescribed under Schedule XIV of the Companies Act,
1956.
c). The Carrying amount of assets are reviewed at each balance sheet
date when required to assess whether they are recorded in excess of
their recoverable amounts and where carrying values exceed the
estimated recoverable amount, assets are written down to their
recoverable amount.
3. Inventories:
a) Raw Materials, Packing Materials, Stores, Spares and Consumables are
valued at cost, calculated on "First-in-First- Out (FIFO) "basis,
which either equal to or Less than the realizable value. Items held for
use in the production of inventories are not written down below cost if
the finished products in which they will be incorporated are expected
to be sold at or above cost.
b) Finished goods and Work-in-process are valued at lower of the cost
and net realizable value. In respect of finished goods, cost includes
material, labour and proportion of appropriate overheads and excise
duty.
4. Revenue recognition:
Revenues are recognized on accrual basis. Sales are recognized
exclusive of Excise Duty and Sales Tax.
5. Retirement Benefits:
a) The Company''s contribution to Provident Fund is recognized on
accrual basis.
b) Gratuity and Leave Encashment Liability is provided on the basis of
actuarial valuation at the end of each financial year.
6. Deferred Taxation:
Deferred Tax resulting from timing differences between book and tax
profit is accounted for under the liability method, at the current rate
of tax, to the extent that the timing differences are expected to
crystallize.
7. Contingencies.
Loss arising from claims, litigation, assessments, fines, penalties
etc., are provided for when it is probable that a liability may be
incurred and the amount can be reasonably estimated.
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