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Accounting Policies of Total Hospitality Ltd. Company

Mar 31, 2015

1. Accounting Convention:

(a) The accounts are prepared on a going concern basis under the historical cost convention in accordance with the provisions of The Companies Act, 2013 and materially comply with mandatory accounting standards issued by The Institute of Chartered Accountants of India.

(b) In our opinion, the value on realization of Current Assets and Loans & advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

2. Revenue Recognition:

(a) The income is accounted for on accrual basis unless referred otherwise.

3. Fixed Asset, Depreciation / Amortisation:

(a) There are no Fixed Assets in the Company, hence no depreciation provided during the year.

4. Investments

(a) Investments are stated at cost or realizable value, whichever is less.

5. Inventory Valuation

(a) There is no inventory as the company is not in operation.


Mar 31, 2014

1. Accounting Convention:

(i) The accounts are prepared on a going concern basis under the historical cost convention in accordance with the provisions of The Companies Act, 1956 and materially comply with mandatory accounting standards issued by The Institute of Chartered Accountants of India.

(ii) In our opinion, the value on realization of Current Assets and Loans & advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

2. Revenue Recognition:

(i) The income is accounted for on accrual basis unless referred otherwise.

3. Fixed Asset, Depreciation / Amortisation:

(i) There are no Fixed Assets in the Company, hence no depreciation provided during the year.

4. Investments

(i) Investments are stated at cost or realizable value, whichever is less.

5. Inventory Valuation

(i) There is no inventory as the company is not in operation.


Mar 31, 2012

1. Accounting Convention :

(i) The accounts are prepared on a going concern basis under the historical cost convention in accordance with the provisions of The Companies Act, 1956 and materially comply with mandatory accounting standards issued by The Institute of Chartered Accountants of India.

(ii) In our opinion, the value on realization of Current Assets and Loans & advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet

2. Revenue Recognition

(i) The income is accounted for on accrual basis unless referred otherwise.

3. Fixed Asset,Depreciation/Amortisation:

(i) There are no Fixed Assets in the Company, hence no depreciation provided during the year.

4. Investments

(i) Investments are stated at cost or realisable value, whichever is less.

5. Inventory Valuation

(i) There is no inventory as the company is not in operation.

 
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