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Accounting Policies of Safal Securities Ltd. Company

Mar 31, 2015

I) Basis of Accounting:

Financial Statements are prepared under historical cost convention on a accrual basis in accordance with the requirements of the Companies Act. 2013.

ii) Fixed Assets and Depreciation

a) There are no fixed assets b) Depreciation:

(i) Not Applicable

ii) INVENTORIES

There is no Inventory hence not applicable.

iii) MISCELLANEOUS EXPENSES

There is no Preliminary Expenditure at the year end.

iv) CONTINGENT LIABILITIES

No provision is made for liabilities, which are contingent in nature but, if material the same is disclosed by way of notes to the accounts.


Mar 31, 2014

I) Basis of Accounting:

Financial Statement are prepared under historical cost convention on a accrual basis in accordance with the requirements of the Companies Act. 1956.

ii) Fixed Assets and Depreciation

a) There is no Fixed assets

b) Depreciation:

(i) Not Applicable

ii) INVENTORIES

There is no Inventory hence not applicable.

iii) MISCELLANEOUS EXPENSES

There is no Preliminary Expenditure at the year end.

iv) CONTINGENT LIABILITIES

No provision is made for liabilities, which are contingent in nature but, if material the same is disclosed by way of notes to the accounts.


Mar 31, 2013

I) Basis of Accounting :

Financial Statement are prepared under historical cost convention on a accrual basis in accordance with the requirements of the Companies Act. 1956.

ii) Fixed Assets and Depreciation

a) There is no Fixed assets

b) Depreciation :

(i) Not Applicable

ii) INVENTORIES

There is no Inventory hence not applicable.

iii) MISCELLANEOUS EXPENSES

There is no Preliminary Expenditure at the year end.

iv) CONTINGENT LIABILITIES

No provision is made for liabilities, which are contingent in nature but, if material the same is disclosed by way of notes to the accounts.


Mar 31, 2010

I. ACCOUNTING CONVENTION :

The financial statement is prepared under the historical cost convention and follows the mercantile system of accounting and recognizes income and expenditure on the accrual basis except those with significant uncertainties. Sales & Purchase is accounted exclusive of excise duty.

II. FIXED ASSETS :

There is no Fixed assets, hence not applicable.

III. INVENTORIES :

There is no Inventory, hence not applicable.

IV. INVESTMENT : There is no investment.

V. MISCELLANOUS EXPENSES :

Preliminary Expenditures are written off over period often years.

VI. CONTINGENT LIABILITIES :

No Provision is made for liabilities which are contingent in nature but, if material, the same all disclosed by way notes to the accounts.


Mar 31, 2009

I. ACCOUNTING CONVENTION:

The financial statement is prepared under the historical cost convention and follows the mercantile system of accounting and recognizes income and expenditure on the accrual basis except those with significant uncertainties. Sales & Purchase is accounted exclusive of excise duty.

II. FIXED ASSETS:

There is no Fixed assets, hence not applicable. HI. INVENTORIES:

There is no Inventory, hence not applicable.

IV. INVESTMENT: There is no investment.

V. MISCELLANOUS EXPENSES:

Preliminary Expenditures are written off over period of ten years.

 
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