Mar 31, 2015
A) Basis of Preparation of Financial Statements
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The company has prepared these financial statements to
comply in all material respects with the accounting standards notified
under Section 133 of the Companies Act, 2013, read with Rule 7 of the
Companies (Accounts) Rules, 2014 and the relevant provisions of the
Companies Act, 2013 ("the 2013 Act")/Companies Act, 1956 ("the Act
1956"), as applicable. These financial statements have been prepared on
an accrual basis and under the historical cost conventions.
b) Inventories
Stock of shares are valued at cost
c) Fixed Assets:
Fixed Assets are stated at cost of acquisition/installation less
accumulated depreciation. The cost of assets comprises of purchase
price and directly attributable cost of bringing the assets to working
condition for its intended use.
d) Depreciation and Amortisation
In respect of fixed assets (other than freehold land and capital
work-in-progress) acquired during the year, depreciation/ amortisation
is charged on a straight line basis so as to write off the cost of the
assets over the useful lives and for the assets acquired prior to 1
April, 2014, the carrying amount as on 1 April, 2014 is depreciated
over the remaining useful life in terms of the provisions of Schedule
II of the Companies Act, 2013.
e) Investments
Investments are classified into current and Long -term investment.
Current Investments are stated at lower of cost and fair market value.
Long Term Investments are stated at cost after deducting provision, if
any, for diminution in value considered to be other than temporary in
nature.
f) Earning Per Share
Basic and Diluted Earnings per shares are calculated by dividing the
net profit attributable to the ordinary shareholders by the weighted
average number of ordinary shares outstanding during the year.
g) Taxation
Provision for current tax is made after taking in to consideration
benefits admissible under the provisions of the Income Tax Act, 1961,
Deferred tax resulting from "timing difference" between taxable and
accounting income is accounted for using the tax rates and law that are
enacted or substantively enected as on the balance sheet date. Deferred
tax assets is recognised and carried forward only to the extent that
there is virtual certainty that the assets will be realised in future.
h) Employee Benefits
Gratuity Liability has been provided on the basis of acturial
valuation.The company does not contributes to any fund for gratuity for
its employees. The cost of providing benefits is determined on the
basis of actuarial valuation at each year end using projected unit
credit method.Actuarial gain and losses is recognized in the period in
which they occur in the statement of profit and loss.
I) Impairment
An asset is treated as impaired when the carrying cost of assets
exceeds its recoverable value being higher of value in use and net
selling price. An impairment loss is recognized as an expense in the
Profit and Loss Account in the year in which an asset is impaired. The
impairment loss recognized in prior accounting period is reversed if
there has been an improvement in recoverable amount.
j) Provision & Contingent Liability
A provision is recognized when there is a present obligation as a
result of past event, that probably requires an outflow of resources
and a reliable estmate can be made to settle the amount of
obligation.These are reviewed at each year end and adjusted to reflect
the best current estmates. Contingent liabilities are not recognised
but disclosed in the financial statements.
As per our report of even date
Mar 31, 2014
A) Basis of Preparation of Financial Statements
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The company has prepared these financial statements to
comply in all material respects with the accounting standards notified
under the Companies (Accounting Standards) Rules, 2006,(as amended) and
the relevant provisions of the Companies Act,1956. These financial
statements have been prepared on an accrual basis and under the
historical cost conventions.
b) Inventories
Stock of shares are valued at cost
c) Fixed Assets:
Fixed Assets are stated at cost of acquisition/installation less
accumulated depreciation. The cost of assets comprises of purchase
price and directly attributable cost of bringing the assets to working
condition for its intended use.
d) Depreciation and Amortisation
Depreciation on fixed assets has been provided on straight line method
(SLM) at the rates and manner prescribed under Schedule XIV to the
Companies Act, 1956 of India.
e) Investments
Investments are classified into current and Long -term investment.
Current Investments are stated at lower of cost and fair market value.
Long Term Investments are stated at cost after deducting provision, if
any, for diminution in value considered to be other than temporary in
nature.
f) Earning Per Share
Basic and Diluted Earnings per shares are calculated by dividing the
net profit attributable to the ordinary shareholders by the weighted
average number of ordinary shares outstanding during the year.
g) Taxation
Provision for current tax is made after taking in to consideration
benefits admissible under the provisions of the Income Tax Act, 1961,
Deferred tax resulting from "timing difference" between taxable and
accounting income is accounted for using the tax rates and law that are
enacted or substantively enected as on the balance sheet date. Deferred
tax assets is recognised and carried forward only to the extent that
there is virtual certainty that the assets will be realised in future.
h) Employee Benefits
Provident Fund Act and/or Superannuation Fund is not applicable the
Company during the year under review and the company do not have any
other scheme for Provident Fund.
I) Impairment
An asset is treated as impaired when the carrying cost of assets
exceeds its recoverable value being higher of value in use and net
selling price. An impairment loss is recognized as an expense in the
Profit and Loss Account in the year in which an asset is impaired. The
impairment loss recognized in prior accounting period is reversed if
there has been an improvement in recoverable amount. j) Provision &
Contingent Liability
A provision is recognized when there is a present obligation as a
result of past event, that probably requires an outflow of resources
and a reliable estimate can be made to settle the amount of obligation.
These are reviewed at each year end and adjusted to reflect the best
current estimates. Contingent liabilities are not recognised but
disclosed in the financial statements.
Mar 31, 2013
A) Basis of Preparation of Financial Statements
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The company has prepared these financial statements to
comply in all material respects with the accounting standards notified
under the Companies (Accounting Standards) Rules, 2006,(as amended) and
the relevant provisions of the Companies Act,1956. These financial
statements have been prepared on an accrual basis and under the
historical cost conventions.
b) Inventories
Stock of shares are valued at cost
c) Fixed Assets:
Fixed Assets are stated at cost of acquisition/installation less
accumulated depreciation. The cost of assets comprises of purchase
price and directly attributable cost of bringing the assets to working
condition for its intended use.
d) Depreciation and Amortisation
Depreciation on fixed assets has been provided on straight line method
(SLM) at the rates and manner prescribed under Schedule XIV to the
Companies Act, 1956 of India.
e) Investments
Investments are classified into current and Long -term investment.
Current Investments are stated at lower of cost and fair market value.
Long Term Investments are stated at cost after deducting provision, if
any, for diminution in value considered to be other than temporary in
nature.
f) Earning Per Share
Basic and Diluted Earnings per shares are calculated by dividing the
net profit attributable to the ordinary shareholders by the weighted
average number of ordinary shares outstanding during the year.
g) Taxation
Provision for current tax is made after taking in to consideration
benefits admissible under the provisions of the Income Tax Act, 1961,
Deferred tax resulting from "timing difference" between taxable and
accounting income is accounted for using the tax rates and law that are
enacted or substantively enected as on the balance sheet date. Deferred
tax assets is recognised and carried forward only to the extent that
there is virtual certainty that the assets will be realised in future.
h) Employee Benefits
Provident Fund Act and/or Superannuation Fund is not applicable the
Company during the year under review and the company do not have any
other scheme for Provident Fund.
I) Impairment
An asset is treated as impaired when the carrying cost of assets
exceeds its recoverable value being higher of value in use and net
selling price. An impairment loss is recognized as an expense in the
Profit and Loss Account in the year in which an asset is impaired. The
impairment loss recognized in prior accounting period is reversed if
there has been an improvement in recoverable amount. j) Provision &
Contingent Liability
A provision is recognized when there is a present obligation as a
result of past event, that probably requires an outflow of resources
and a reliable estimate can be made to settle the amount of obligation.
These are reviewed at each year end and adjusted to reflect the best
current estimates. Contingent liabilities are not recognised but
disclosed in the financial statements.
Mar 31, 2012
A) Basis of Preparation of Financial Statements
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The company has prepared these financial statements to
comply in all material respects with the accounting standards notified
under the Companies (Accounting Standards) Rules, 2006,(as amended) and
the relevant provisions of the Companies Act,1956. These financial
statements have been prepared on an accrual basis and under the
historical cost conventions.
b) Inventories
Stock of shares are valued at cost
c) Fixed Assets:
Fixed Assets are stated at cost of acquisition/installation less
accumulated depreciation. The cost of assets comprises of purchase
price and directly attributable cost of bringing the assets to working
condition for its intended use.
d) Depreciation and Amortisation
Depreciation on fixed assets has been provided on straight line method
(SLM) at the rates and manner prescribed under Schedule XIV to the
Companies Act, 1956 of India.
e) Investments
Investments are classified into current and Long -term investment.
Current Investments are stated at lower of cost and fair market value.
Long Term Investments are stated at cost after deducting provision, if
any, for diminution in value considered to be other than temporary in
nature.
f) Earning Per Share
Basic and Diluted Earnings per shares are calculated by dividing the
net profit attributable to the ordinary shareholders by the weighted
average number of ordinary shares outstanding during the year.
g) Taxation
Provision for current tax is made after taking in to consideration
benefits admissible under the provisions of the Income Tax Act, 1961,
Deferred tax resulting from "timing difference" between taxable and
accounting income is accounted for using the tax rates and law that are
enacted or substantively enected as on the balance sheet date. Deferred
tax assets is recognised and carried forward only to the extent that
there is virtual certainty that the assets will be realised in future.
h) Employee Benefits
Provident Fund Act and/or Superannuation Fund is not applicable the
Company during the year under review and the company do not have any
other scheme for Provident Fund.
I) Impairment
An asset is treated as impaired when the carrying cost of assets
exceeds its recoverable value being higher of value in use and net
selling price. An impairment loss is recognized as an expense in the
Profit and Loss Account in the year in which an asset is impaired. The
impairment loss recognized in prior accounting period is reversed if
there has been an improvement in recoverable amount. j) Provision &
Contingent Liability
A provision is recognized when there is a present obligation as a
result of past event, that probably requires an outflow of resources
and a reliable estimate can be made to settle the amount of obligation.
These are reviewed at each year end and adjusted to reflect the best
current estimates. Contingent liabilities are not recognised but
disclosed in the financial statements.