Mar 31, 2015
A. ACCOUNTING ASSUMPTIONS:
The financial statements of Senthil Infotek Limited have
been prepared and presented in accordance with Indian Generally
Accepted Accounting Principle(GAAP) under the historical cost
convention on the accrual basis. GAAP comprises accounting Standards
notified by the central Government of India under section 2 (2) of the
companies Act, 2013, other pronouncements of Institute of Chartered
Accountants of India, and the provisions of companies Act.
The Company has prepared these financial Statements as per the format
prescribed by Revised Schedule VI to the companies Act 1956 issued by
Ministry of Corporate Affairs.
Previous year figures have been regrouped, recast and reclassified
wherever necessary to confirm with those of the current year.
b. FIXED ASSETS: Fixed Assets are accounted at cost of acquisition
exclusive of CENVAT and
inclusive of freight inward, taxes, incidentals related to acquisition
and financial cost till commencement of commercial production.
c. DEPRECIATION: Depreciation has not been provided for this year as
the operations were negligible.
d. INCOME TAX EXPENSES:
Income tax expense comprises current tax and deferred tax charge or
credit.
Current Tax
The current charge for income taxes is calculated in accordance with
the relevant tax regulations applicable to the company.
Deferred Tax - Not Applicable
Mar 31, 2014
A) Financial Statements are prepared under the historical cost
convention and in accordance with normally accepted accounting
standards.
b) Fixed Assets are at cost.Depreciation has not been provided on fixed
assets, since the company has not started commercial production on the
floriculture project.
Mar 31, 2013
A) Financial Statements are prepared under the historical cost
convention and in accordance with normally accepted accounting
standards.
b) Fixed assets are at cost. Depreciation has not been provided on
fixed assets since the company has not yet started commercial
production on the floriculture project.
c) Preliminary expenses will be amortized over a period of 10 years
from the date of commencement of commercial production.
Mar 31, 2012
A) Financial Statements are prepared under the historical cost
convention and in accordance with normally accepted accounting
standards.
b) Fixed assets are at cost. Depreciation has not been provided on
fixed assets since the company has not yet started commercial
production on the floriculture project.
c) Preliminary expenses will be amortized over a period of 10 years
from the date of commencement of commercial production.
Mar 31, 2010
1. Accounting Policies
a) Financial Statements are prepared under the historical cost
convention and in accordance with normally accepted accounting
standards.
b) Fixed assets are at cost. Depreciation has not been provided on
fixed assets since the company has not yet started commercial
production on the floriculture project.
c) Preliminary expenses will be amortized over a period of 10 years
from the date of commencement of commercial production.
Mar 31, 2009
1. Accounting Policies
a) Financial Statements are prepared under the historical cost
convention and in accordance with normally accepted accounting
standards.
b) Fixed assets are at cost. Depreciation has not been provided on
fixed assets since the company has not yet started commercial
production on the floriculture project.
c) Preliminary expenses will be amortized over a period of 10 years from
the date of commencement of commercial production.
d) Transaction In foreign currencies are NIL.
e) Additional information pursuant to the provisions of Clause 3.4A,
4c and 4D of part II schedule VI of the Companies Act. 1956 are
not given since the activities of the company are not started.
f) Figures have been rounded off to the nearest rupee.
g) Previous years figures are regrouped wherever necessary.
h) Confirmation of balances in respect of Loans & Advances and Creditors
remain to be obtained.
I) The issue of shares amounting to Rs.5.05 Crores is subject to
reconciliation,
j) During the year under 'review software activity was started. The
expenditure Incurred on the floriculture project Is classified as pre-
operative expenditure to be capitalized.
k) During the year the company sold 10 Acres of land along with the
-developments made there on. The excess of sale proceeds over
expenditure Incurred and proportionate cost of land Is transferred as
capital reserve,
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