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Accounting Policies of Secunderabad Healthcare Ltd. Company

Mar 31, 2015

1. Accounting Convention :

a. General

(i) These Accounts are prepared on the historical cost basis and on the accounting principles of a going concern.

(ii) Accounting policies not specifically referred to otherwise, are consistent and in consonance with the generally accepted accounting principles prescribed by the (Accounting Standards) Rules, 2006 issued by the Central Government.

b. Revenue Recognition

(i) The Company follows the mercantile system of Accounting and recognizes income and expenditure on accrual basis.

(ii) Revenue is not recognized on the grounds of prudence, until realized in respect of liquidated damages, delayed payments as recovery of the amounts are not certain.

c. Use of Estimates

The preparation of the Financial statements is on conformity with the generally accepted accounting principles which requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities on the date of the financial statements and the results of operations during the reporting periods. Although these estimates are based upon the management's best knowledge of current events and actions, actual results could differ from the estimates and revisions, if any, recognized in the current and future periods.

d. Fixed Assets

Fixed Assets are stated at cost less accumulated depreciation. Cost of Acquisition of fixed assets is inclusive of duties and incidental expenses thereto.

e. Depreciation and Amortization

Depreciation on fixed assets is computed on the straight line method and as per useful life as prescribed under Part C of Schedule II of the Companies Act, 2013.

f. Impairment of Assets

The Company assesses at each balance sheet date whether there is any indication that an asset may be impaired. If any such indication exists, the Company estimates the recoverable amount of the asset. If such recoverable amount of the asset or the recoverable amount of the cash generating unit to which the asset belongs is less than its carrying amount, the carrying amount is reduced to its recoverable amount and the reduction is treated as an impairment loss and is recognized in the Profit and Loss Account. If at the balance sheet date there is an indication that a previously assessed impairment loss no longer exists, the recoverable amount is reassessed and the asset is reflected at the recoverable amount subject to a maximum of depreciated historical cost.

2. Investment :

The Quoted and Unquoted Investments are stated at cost i.e. cost of acquisition, inclusive of the expenses incidental to acquisition, wherever applicable.

3. Inventories :

Inventories are valued at Cost or Market Price, whichever is lower.

4. Taxes on Income :

The current charge for income tax is calculated in accordance with the relevant tax regulations applicable to the company, deferred tax asset and liability is recognized for future tax consequences attributable to the timing differences that result between the profit offered for income tax and the profit as per the financial Statements. Deferred tax asset & liability are measured as per the tax rates/ laws that have been enacted or substantively enacted by the Balance Sheet date.

5. Earnings per Share :

The Earnings considered in ascertaining the Earnings per Share comprises the Net Profit after Tax. The number of Shares used in the computation of the Earnings per Share is the weighted average number of Shares outstanding during the year.

6. Gratuity :

No provision for Gratuity has been made in the accounts as none of the employees of the Company have completed five years of services as required by the payment of Gratuity Act.

7. Related Party Disclosures

The Company furnishes the Disclosure of transactions with related parties, as required by Accounting Standard 18 "Related Party Disclosure" as specified in the Companies (Accounting Standard) Rules, 2006. Related parties as defined under clause 3 of the Accounting Standard 18 have been identified on the basis of representation made by the management and information available with the company.


Mar 31, 2014

A. General

(i) These Accounts are prepared on the historical cost basis and on the accounting principles of a going concern.

(ii) Accounting policies not specifically referred to otherwise, are consistent and in consonance with the generally accepted accounting principles prescribed by the (Accounting Standards) Rules, 2006 issued by the Central Government.

b. Revenue Recognition

(i) The Company follows the mercantile system of Accounting and recognizes income and expenditure on accrual basis.

(ii) Revenue is not recognized on the grounds of prudence, until realized in respect of liquidated damages, delayed payments as recovery of the amounts are not certain.

c. Use of Estimates

The preparation of the Financial statements is on conformity with the generally accepted accounting principles which requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities on the date of the financial statements and the results of operations during the reporting periods. Although these estimates are based upon the management''s best knowledge of current events and actions, actual results could differ from the estimates and revisions, if any, recognized in the current and future periods.

d. Fixed Assets

Fixed Assets are stated at cost less accumulated depreciation. Cost of Acquisition of fixed assets is inclusive of duties and incidental expenses thereto.

e. Depreciation and Amortization

Depreciation is provided on Straight line Method on pro- rata basis and at the rates and manner specified in Schedule XIV of the Companies Act, 1956.

f. Impairment of Assets

The Company assesses at each balance sheet date whether there is any indication that an asset may be impaired. If any such indication exists, the Company estimates the recoverable amount ofthe asset. If such recoverable amount of the asset or the recoverable amount of the cash generating unit to which the asset belongs is less than its carrying amount, the carrying amount is reduced to its recoverable amount and the reduction is treated as an impairment loss and is recognized in the Profit and Loss Account. If at the balance sheet date there is an indication that a previously assessed impairment loss no longer exists, the recoverable amount is reassessed and the asset is reflected at the recoverable amount subject to a maximum of depreciated historical cost.


Mar 31, 2013

A. General

(I) These Accounts are prepared on the historical cost basis and on the accounting principles of a going concern.

(ii) Accounting policies not specifically referred to otherwise, are consistent and in consonance with the generally accepted accounting principles prescribed by the (Accounting Standards) Rules, 2006 issued by the Central Government.

b. Revenue Recognition

(I) The Company follows the mercantile system of Accounting and recognizes income and expenditure on accrual basis.

(ii) Revenue is not recognized on the grounds of prudence, until realized in respect of liquidated damages, delayed payments as recovery of the amounts are not certain.

c. Use of Estimates

The preparation of the Financial statements is on conformity with the generally accepted accounting principles which requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities on the date of the financial statements and the results of operations during the reporting periods. Although these estimates are based upon the management''s best knowledge of current events and actions, actual results could differ from the estimates and revisions, if any, recognized in the current and future periods.

d. Fixed Assets

Fixed Assets are stated at cost less accumulated depreciation. Cost of Acquisition of fixed assets is inclusive of duties and incidental expenses thereto

e. Depreciation and Amortization

Depreciation is provided on Straight line Method on pro- rata basis and at the rates and manner specified in Schedule XIV ofthe Companies Act, 1956.

f. Impairment of Assets

The Company assesses at each balance sheet date whether there is any indication that an asset may be impaired. If any such indication exists, the Company estimates the recoverable amount of the asset. If such recoverable amount of the asset or the recoverable amount of the cash generating unit to which the asset belongs is less than its carrying amount, the carrying amount is reduced to its recoverable amount and the reduction is treated as an impairment loss and is recognized in the Profit and Loss Account. If at the balance sheet date there is an indication that a previously assessed impairment loss no longer exists, the recoverable amount is reassessed and the asset is reflected at the recoverable amount subject to a maximum of depreciated historical cost.


Mar 31, 2011

General

(i) These accounts are prepared on the historical cost basis and on the Accounting principles of a going concern.

(ii) Accounting policies not specifically referred to otherwise arc consistent and in consonance with generally accepted accounting Principles.

Revenue Recognition:

(i) The Company follows the mercantile system of Accounting and recognizes income and expenditure on accrual basis.

(ii) Revenue is not recognized on the grounds of prudence, until realized in respect of liquidated damages, delayed payments as recovery of the amounts are not certain. investments,;

(i) Investments are stated at cost i.e. cost of acquisition, inclusive of expenses incidental to acquisition wherever applicable.

Fixed Assets:

(i) Fixed assets are started at cost less accumulated depreciation. Cost of acquisition of fixed assets is inclusive of freight, duties taxes and incidental expenses thereto.

Depreciation and Amortization :

(i) Depreciation is provided on straight line method on pro-rata basis and at the rates and manner specified in the Schedule XIV of the Companies Act, 1956.

Inventories :

Inventories are valued at cost or market price whichever is lower.

Taxation:

The current charge for income tax is calculated in accordance with the relevant tax regulations applicable to the company, deferred tax asset and liability is recognized for future consequences attributable to the timing differences that result between the profit offered for income tax and the profit as per the financial Statements. Deferred tax asset & liability are measured as per the tax rates/ laws that have been enacted or substantively enacted by the Balance Sheet date.

Earnings Per Share:

The earning considered in ascertaining the company's earnings per Share comprises net Profit after tax. The number of shares used in computing basic earnings per share is the weighted average number of shares outstanding during the year.

Gratuity:

No provision for gratuity has been made as no employee has put in qualifying period of service for entitlement of this benefit.


Mar 31, 2010

General;

(i) These accounts are prepared on the historical cost basis and on the accounting principles of a going concern. (ii) Accounting policies not specifically referred to otherwise are consistent and in consonance with generally accepted accounting Principles.

Revenue Recognition :

(i) The Company follows the Mercantile system of Accounting and recognizes income and expenditure on accrual basis.

(ii) Revenue is not recognized on the grounds of prudence, until realized in respect of liquidated damages, delayed payments as recovery of the amounts are not certain.

Investments:

(i) Investments are stated at cost i.e cost of acquisition, inclusive of expenses incidental to acquisition wherever applicable.

Fixed Assets :

(i) Fixed assets are started at cost less accumulated depreciation. Cost of acquisition of fixed assets is inclusive of freight, duties taxes and incidental expenses thereto.

Depreciation and Amortization :

(i) Depreciation is provided on straight line method on pro-rata basis and at the rates and manner specified in the Schedule XIV of the Companies Act, 1956.

Inventories:

Inventories are valued at cost or market price whichever is lower.

Taxation :

The current charge for income tax is calculated in accordance with the relevant tax regulations ap- plicable to the company, Deferred tax asset and liability is recognized for future tax consequences attributable to the timing differences that result between the profit offered for income tax and the profit as per the financial Statements. Deferred tax asset & liability are measured as per the tax rates/ laws that have been enacted or substantively enacted by the Balance Sheet date.

Earning Per Share:

The earning considered in ascertaining the companys earning per Share comprises net Profit after tax. The number of shares used in computing basic earning per share is the weighted average number of shares outstanding during the year.

No provision for gratuity has been made as no employee has put in qualifying period of service for entitlement of this benefit.

 
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