Dec 31, 2014
1. BASIS OF ACCOUNTING:
The financial statements are prepared on accrual basis and in
accordance with the requirements of the Companies Act, 1956.
2. FIXED ASSETS:
Fixed assets are stated at cost less accumulated depreciation. The
Company capitalises all costs relating to the acquisitions and
installations of fixed assets.
3. DEPRECIATION:
Depreciation is provided under the Straight Line Method on single shift
basis at the rates provided by Schedule XIV to the Companies Act, 1956
on Buildings, Plant & Machinery, Electrical installation, Furniture and
Fixtures and on Written Down Value method on Vehicles, Computer and the
Other assets at the rates prescribed in Schedule XIV to the Companies
Act, 1956.
4. INVENTORIES:
(a) Raw materials are valued at cost or net realisable value whichever
is lower
(b) Work in progress are valued at cost or net realisable value
whichever is lower
(c) Finished goods are valued at cost or net realisable value whichever
is lower. Cost of work in progress and finished products comprises
expenditure incurred in the normal course of business in bringing such
inventories to its present location and includes production &
administrative overheads based on normal level of activity.
5. FOREIGN CURRENCY TRANSACTION
Foreign currency transactions are translated into Indian Rupees at
actual amounts realised / paid as the case may be. Unrealised Sales
Invoices / Debtors are valued at the rate prevailing on the date of
Balance Sheet.
6. SALES:
Sales are exclusive of duties and sales tax.
7. RETIREMENT BENEFIT:
Contribution to the Provident Fund and Family Pension Fund are charged
to Profit & Loss Account
8. CONTINGENT LIABILITIES:
Liabilities which are of contingent nature are disclosed by way of
Notes and such liabilities which are likely to mature are provided for.
9. DEFERRED TAX
The Company provides for the deferred tax using liability method based
on the tax effect of timing difference resulting from the recognition
of terms in the financial statements. Deferred tax assets are
recognised only if reasonable possibility of adjustment is there.
Dec 31, 2013
1. BASIS OF ACCOUNTING:
The financial statements are prepared on accrual basis and in
accordance with the requirements of the Companies Act, 1956.
2. FIXED ASSETS:
(a) Fixed assets are stated at cost less accumulated depreciation. The
Company capitalises all costs relating to the acquisitions and
installations of fixed assets.
3. DEPRECIATION:
Depreciation is provided under the Straight Line Method on single shift
basis at the rates provided by Schedule XIV to the Companies Act, 1956
on Buildings, Plant & Machinery, Electrical installation, Furniture and
Fixtures and on Written Down Value method on Vehicles, Computer and the
Other assets at the rates prescribed in Schedule XIV to the Companies
Act, 1956.
4. INVENTORIES:
(a) Raw materials are valued at cost or net realisable value whichever
is lower
(b) Work in progress are valued at cost or net realisable value
whichever is lower
(c) Finished goods are valued at cost or net realisable value whichever
is lower. Cost of work in progress and finished products comprises
expenditure incurred in the normal course of business in bringing such
inventories to its present location and includes production &
administrative overheads based on normal level of activity.
5. FOREIGN CURRENCY TRANSACTION
Foreign currency transactions are translated into Indian Rupees at
actual amounts realised / paid as the case may be. Unrealised Sales
Invoices / Debtors are valued at the rate prevailing on the date of
Balance Sheet.
6. SALES:
Sales are exclusive of duties and sales tax.
7. RETIREMENT BENEFIT:
Contribution to the Provident Fund and Family Pension Fund are charged
to Profit & Loss Account
8. CONTINGENT LIABILITIES:
Liabilities which are of contingent nature are disclosed by way of
Notes and such liabilities which are likely to mature are provided for.
9. DEFERRED TAX
The Company provides for the deferred tax using liability method based
on the tax effect of timing difference resulting from the recognition
of terms in the financial statements. Deferred tax assets are
recognised only if reasonable possibility of adjustment is there.
Dec 31, 2012
1. BASIS OF ACCOUNTING:
The financial statements are prepared on accrual basis and in
accordance with the requirements of the ; Companies Act, 1956. ;
2. FIXED ASSETS:
(a) Fixed assets are stated at cost less accumulated depreciation. The
Company capitalizes all costs relating to the acquisitions and
installations of fixed assets.
3. DEPRECIATION:
Depreciation is provided under the Straight Line Method on single shift
basis at the rates provided by Schedule XIV to the Companies Act, 1956
on Buildings, Plant & Machinery, Electrical installation, Furniture and
Fixtures , and on Written Down Value method on Vehicles, Computer and
the Other assets at the rates prescribed in Schedule XIV to the
Companies Act, 1956.
4. INVENTORIES:
(a) Raw materials are valued at cost or net realizable value whichever
is lower
(b) Work in progress are valued at cost or net realizable value
whichever is lower
(c) Finished goods are valued at cost or net realizable value whichever
is lower. Cost of work in progress and j finished products comprises
expenditure incurred in the normal course of business in bringing such
j inventories to its present location and includes production &
administrative overheads based on normal j level of activity.
5. FOREIGN CURRENCY TRANSACTION
Foreign currency transactions are translated into Indian Rupees at
actual amounts realized / paid as the rise may be. Unrealized Sales
Invoices / Debtors are valued at the rate prevailing on the date of
Balance Sheet.
6. SALES:
Sales are exclusive of duties and sales tax.
7. RETIREMENT BENEFIT:
Contribution to the Provident Fund and Family Pension Fund are charged
to Profit & Loss Account
8. CONTINGENT LIABILITIES:
Liabilities which are of contingent nature are disclosed by way of
Notes and such liabilities which are likely to mature are provided for.
9. DEFERRED TAX
The Company provides for the deferred tax using liability method based
on the tax effect of timing difference I resulting from the recognition
of terms in the financial statements. Deferred tax assets are
recognized or ,'' if i reasonable possibility of adjustment is there.
Dec 31, 2011
1. BASIS OF ACCOUNTING:
The financial statements are prepared on accrual basis and in
accordance with the requirements of the Companies Act, 1956.
2. FIXED ASSETS:
(a) Fixed assets are stated at cost less accumulated depreciation. The
Company capitalizes all costs relating to the acquisitions and
installations of fixed assets.
3. DEPRECIATION:
Depreciation is provided under the Straight Line Method on single shift
basis at the rates provided by Schedule XIV to the Companies Act, 1956
on Buildings, Plant & Machinery, Electrical Installation, Furniture and
Fixtures and on Written Down Value method on Vehicles and the Other
Assets at the rates prescribed in Schedule XIV to the Companies Act,
1956.
4. INVENTORIES:
(a) Raw materials are valued at cost.
(b) Work in progress are valued at cost
(c) Finished goods are valued at cost or net realisable value whichever
is lower. Cost of work in progress and finished products comprises
expenditure incurred in the normal course of business in bringing such
inventories to its present location and includes production &
administrative overheads based on normal level of activity.
5. FOREIGN CURRENCY TRANSACTION
Foreign currency transactions are translated into Indian Rupees at
actual amounts realised / paid as the case may be. Unrealised Sales
Invoices / Debtors are valued at the rate prevailing on the date of
Balance Sheet.
6. SALES:
Sales are exclusive of duties and sales tax.
7. RETIREMENT BENEFIT:
Contribution to the Provident Fund and Family Pension Fund are charged
to Profit & Loss Account
8. CONTINGENT LIABILITIES:
Liabilities which are of contingent nature are disclosed by way of
Notes and such liabilities which are likely to mature are provided for.
9. DEFERRED TAX
The Company provides for the deferred tax using liability method based
on the tax effect of timing difference resulting from the recognition
of terms in the financial statements. Deferred tax assets are
recognised only if reasonable possibility of adjustment is there.