Mar 31, 2015
A Use of Estimates
The preparation of the financial statements in conformity with GAAP
requires management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosures relating to
contingent liabilities as at the date of the financial statements and
reported amounts of income and expenses during the period. Although
these estimates are based on management''s best knowledge of current
events and actions, uncertainty about these assumptions and estimates
could result in the outcomes requiring a material adjustment to the
carrying amounts of assets or liabilities in future period.
b Tangible Fixed Assets
"Fixed assets are stated at cost, net of accumulated depreciation and
accumulated impairment losses, if any. The cost comprises purchase
price, borrowing costs if capitalization criteria are met and directly
attributable cost of bringing the asset to its working condition for
the intended use. Any trade discount and rebates are deducted in
arriving at the purchase price."Subsequent expenditure related to an
item of fixed asset is added to its book value only if it increases the
future benefits from the existing asset beyond its previously assessed
standard performance. All other expenses on existing fixed assets,
including day to day repair and maintenance expenditure and cost of
replacing parts, are charged to the statement of profit and loss for
the period during which such expenses are incurred."
c Depreciation
Depreciation on Fixed Assets are provided for in accordance with
Schedule II of the Companies Act 2013 on Straight Line Method. In
respect of Additions made during the year, Depreciation is charged on
prorata basis from the date of Addition.
d Investments
"Investments, which are readily realizable and intended to be held for
not more than one year from the date on which such investments are
made, are classified as current investments. All other investments are
classified as long-term investments."All investments are usually
measured at cost. "Current investments are carried in the financial
statements at lower of the cost and fair value determined in on an
individual investment basis. Long term investments are carried at cost.
However, provision for diminution in value of the investments.
e Provisions & Contingent Liability
"The Company recognized a provision when there is a present obligation
as a result of past event, and a reliable estimate can be made of the
amount of the obligation. Provisions are determined based on the best
estimate required to settle the obligation at the reporting date. These
estimates are reviewed at each reporting date and adjusted to reflect
the current best estimates.
f Inventories
Stock In Trade of Shares is Valued at Cost or Realisable value which
ever is lower on Fifo Basis g Income Tax
"Tax expenses comprise current and deferred tax.
Current tax comprises Company''s tax liability for the current financial
year as well as additional tax paid, if any, during the year in respect
of earlier years on receipt of demand from the authorities. For
computation of taxable income under the Income Tax Act, 1961, accrual
basis of accounting has been adopted and consistently followed by the
Company.
Deferred tax assets and liabilities are computed on the timing
differences at the Balance Sheet date using the tax rate and tax laws
that have been enacted or substantially enacted by the Balance sheet
date. Deferred tax assets are recognized based on management estimates
of reasonable certainty that sufficient taxable income will be
available against which such deferred tax assets can be realized.
Unrecognized deferred tax assets of earlier years are re-assessed and
recognized to the extent that it has become reasonably certain that
future taxable income will be available against which such deferred tax
assets can be realized.
h Retirement and Employee Benefits
The Company has Defined Benefit plans namely leave encashment and
gratuity for all employees which is accounted for by the Company on
accrual Basis
i Revenue Recognition
(i) Revenues are recognized to the extent that it is probable that
economic benefit will flow to the Company and revenue can be reliably
measured.
(ii) Dividend income is recognised when the right to receive the
payment is established.
(iii) Interest income is recognised on a time proportion basis taking
into account the amount outstanding and the interest rate applicable.
j Earning Per Share
"Earnings per Share (EPS) are computed on the basis of net profit after
tax for the year. The number of shares used in computing basic EPS is
weighted average number of shares outstanding during the year. "The
diluted EPS is calculated on the same basis as basic EPS, since there
are no dilutive equity shares."
k Cash Flow Statement
Cash flows are reported using the indirect method, whereby net profit/
(loss) before tax is adjusted for the effects of transactions of a
non-cash nature. The cash flows from regular revenue generating,
investing and financing activities of the Company are segregated.
Mar 31, 2014
Basis of Preparation
These financial statements are prepared in accordance with Indian
Generally Accepted Accounting Principles (GAAP) under the historical
cost convention on the accrual basis except for certain financial
instruments which are measured at fair values. GAAP comprises mandatory
accounting standards as prescribed by the Companies (Accounting
Standards) Rules, 2006, the provisions of the Companies Act, 1956 and
guidelines issued by the Securities and Exchange Board of India (SEBI).
Accounting policies have been consistently applied except where a newly
issued accounting standard is initially adopted or a revision to an
existing accounting standard requires a change in the accounting policy
hitherto in use.
1 Accounting Policies
a Use of Estimates
The preparation of the financial statements in conformity with GAAP
requires management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosures relating to
contingent liabilities as at the date of the financial statements and
reported amounts of income and expenses during the period. Although
these estimates are based on management''s best knowledge of current
events and actions, uncertainty about these assumptions and estimates
could result in the outcomes requiring a material adjustment to the
carrying amounts of assets or liabilities in future period.
b Tangible Fixed Assets
"Fixed assets are stated at cost, net of accumulated depreciation and
accumulated impairment losses, if any. The cost comprises purchase
price, borrowing costs if capitalization criteria are met and directly
attributable cost of bringing the asset to its working condition for
the intended use. Any trade discount and rebates are deducted in
arriving at the purchase price."Subsequent expenditure related to an
item of fixed asset is added to its book value only if it increases the
future benefits from the existing asset beyond its previously assessed
standard performance. All other expenses on existing fixed assets,
including day to day repair and maintenance expenditure and cost of
replacing parts, are charged to the statement of profit and loss for
the period during which such expenses are incurred."
c Depreciation
Depreciation on Fixed Assets are provided for in accordance with
Schedule XIV of the Companies Act 1956 on Straight Line Method. In
respect of Additions made during the year, Depreciation is charged on
prorata basis from the date of Addition.
d Investments
"Investments, which are readily realizable and intended to be held for
not more than one year from the date on which such investments are
made, are classified as current investments. All other investments are
classified as long-term investments."All investments are usually
measured at cost. "Current investments are carried in the financial
statements at lower of the cost and fair value determined in on an
individual investment basis. Long term investments are carried at cost.
However, provision for diminution in value is made to recognize a
decline other than temporary in the value of the Investments.
e Provisions & Contingent Liability
"The Company recognized a provision when there is a present obligation
as a result of past event, and a reliable estimate can be made of the
amount of the obligation. Provisions are determined based on the best
estimate required to settle the obligation at the reporting date. These
estimates are reviewed at each reporting date and adjusted to reflect
the current best estimates.""The liabilities or obligations, which
cannot be crystallized but loom in horizon, are disclosed as contingent
liabilities.
f Inventories
Stock In Trade of Shares is Valued at Cost on Fifo Basis
g Income Tax
"Tax expenses comprise current and deferred tax. "Current tax comprises
Company''s tax liability for the current financial year as well as
additional tax paid, if any, during the year in respect of earlier
years on receipt of demand from the authorities. For computation of
taxable income under the Income Tax Act, 1961, accrual basis of
accounting has been adopted and consistently followed by the
Company."Deferred tax assets and liabilities are computed on the timing
differences at the Balance Sheet date using the tax rate and tax laws
that have been enacted or substantially enacted by the Balance sheet
date. Deferred tax assets are recognized based on management estimates
of reasonable certainty that sufficient taxable income will be
available against which such deferred tax assets can be realized.
Unrecognized deferred tax assets of earlier years are re-assessed and
recognized to the extent that it has become reasonably certain that
future taxable income will be available against which such deferred tax
assets can be realized.""
h Retirement and Employee Benefits
The Company has Defined Benefit plans namely leave encashment and
gratuity for all employees which is accounted for by the Company on
payment Basis
i Revenue Recognition
Revenues are recognized to the extent that it is probable that economic
benefit will flow to the Company and revenue can be reliably measured.
It is accounted for net of trade discounts.
j Earning Per Share
"Earnings per Share (EPS) are computed on the basis of net profit after
tax for the year. The number of shares used in computing basic EPS is
weighted average number of shares outstanding during the year. "The
diluted EPS is calculated on the same basis as basic EPS, since there
are no dilutive equity shares."
k Cash Flow Statement
Cash flows are reported using the indirect method, whereby net profit/
(loss) before tax is adjusted for the effects of transactions of a
non-cash nature. The cash flows from regular revenue generating,
investing and financing activities of the Company are segregated.
c Terms / Rights Attached to Shares Equity Shares
The Company has only one class of Equity shares having a par value of
10/-. Each holder of equity shares is entitled to one vote per share.
The Company declares and pays dividends in Indian rupees if any.
During the Year Ended 31st March 2014 the amount per share dividend
recognized as distributions to equity shareholders was Rs. NIL( For
31st March 2013 was Rs NIL)
In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive any of the remaining assets of the
company, after distribution of all preferential amounts. The
distribution will be in proportion to the number of equity shares held
by the shareholders.
Mar 31, 2013
A. Use of Estimates
The preparation of the financial statements in conformity with GAAP
requires management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosures relating to
contingent liabilities as at the date of the financial statements and
reported amounts of income and expenses during the period. Although
these estimates are based on management''s best knowledge of current
events and actions, uncertainty about these assumptions and estimates
could result in the outcomes requiring a material adjustment to the
carrying amounts of assets or liabilities in future period.
b. Tangible Fixed Assets
Fixed assets are stated at cost, net of accumulated depreciation and
accumulated impairment losses, if any. The cost comprises purchase
price, borrowing costs if capitalization criteria are met and directly
attributable cost of bringing the asset to its working condition for
the intended use. Any trade discount and rebates are deducted in
arriving at the purchase price.
Subsequent expenditure related to an item of fixed asset is added to
its book value only if it increases the future benefits from the
existing asset beyond its previously assessed standard performance. All
other expenses on existing fixed assets, including day to day repair
and maintenance expenditure and cost of replacing parts, are charged to
the statement of profit and loss for the period during which such
expenses are incurred.
c. Depreciation
Depreciation on Fixed Assets are provided for in accordance with
Schedule XIV of the Companies Act 1956 on Straight Line Method. In
respect of Additions made during the year, Depreciation is charged on
prorata basis from the date of Addition.
d. Investments
Investments, which are readily realizable and intended to be held for
not more than one year from the date on which such investments are
made, are classified as current investments. All other investments are
classified as long-term investments.
All investments are usually measured at cost.
Current investments are carried in the financial statements at lower of
the cost and fair value determined in on and individual investment
basis. Long term investments are carried at cost. However, provision
for diminution in value is made to recognize a decline other than
temporary in the value of the Investments.
e. Provisions & Contingent Liability
The Company recognized a provision when there is a present obligation
as a result of past event, and a reliable estimate can be made of the
amount of the obligation. Provisions are determined based on the best
estimate required to settle the obligation at the reporting date. These
estimates are reviewed at each reporting date and adjusted to reflect
the current best estimates.
f. Inventories
Stock In Trade of Shares is Valued at Cost on Fifo Basis
g. Income Tax
Tax expenses comprise current and deferred tax.
Current tax comprises Company''s tax liability for the current
financial year as well as additional tax paid, if any, during the year
in respect of earlier years on receipt of demand from the authorities.
For computation of taxable income under the Income Tax Act, 1961,
accrual basis of accounting has been adopted and consistently followed
by the Company. Deferred tax assets and liabilities are computed on the
timing differences at the Balance Sheet date using the tax rate and tax
laws that have been enacted or substantially enacted by the Balance
sheet date. Deferred tax assets are recognized based on management
estimates of reasonable certainty that sufficient taxable income will
be available against which such deferred tax assets can be realized.
Unrecognized deferred tax assets of earlier years are re- assessed and
recognized to the extent that it has become reasonably certain that
future taxable income will be available against which such deferred tax
assets can be realized.
h. Retirement and Employee Benefits
The Company has Defined Benefit plans namely leave encashment and
gratuity for all employees which is accounted for by the Company on
payment Basis.
i. Revenue Recognition
Revenues are recognized to the extent that it is probable that economic
benefit will flow to the Company and revenue can be reliably measured.
It is accounted for net of trade discounts.
j. Earning Per Share
Earnings per Share (EPS) are computed on the basis of net profit after
tax for the year. The number of shares used in computing basic EPS is
weighted average number of shares outstanding during the year. The
diluted EPS is calculated on the same basis as basic EPS, since there
are no dilutive equity shares.
k. Cash Flow Statement
Cash flows are reported using the indirect method, whereby net profit/
(Loss) before tax is adjusted for the effects of transactions of a
non-cash nature. The cash flows from regular revenue generating,
investing and financing activities of the Company are segregated.
Mar 31, 2012
A. Use of Estimates
The preparation of the financial statements in conformity with GAAP
requires management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosures relating to
contingent liabilities as at the date of the financial statements and
reported amounts of income and expenses during the period. Although
these estimates are based on management's best knowledge of current
events and actions, uncertainty about these assumptions and estimates
could result in the outcomes requiring a material adjustment to the
carrying amounts of asses or liabilities in future period.
b. Tangible Fixed Assets
Fixed assets are stated at cost, net of accumulated depreciation and
accumulated impairment losses, if any. The cost comprises purchase
price, borrowing costs if capitalization criteria are met and directly
attributable cost of bringing the asset to its working condition for
the intended use. Any trade discount and rebates are deducted in
arriving at the purchase price.
Subsequent expenditure related to an item of fixed asset is added to
its book value only if it increases the future benefits from the
existing asset beyond its previously assessed standard performance. All
other expenses on existing fixed assets, including day to day repair
and maintenance expenditure and cost of replacing parts, are charged to
the statement of profit and loss for the period during which such
expenses are incurred.
c. Depreciation
Depreciation on Fixed Assets are provided for in accordance with
Schedule XIV of the Companies Act 1956 on Straight Line Method. In
respect of Additions made during the year, Depreciation is charged on
prorata basis from the date of Addition.
d. Investments
Investments, which are readily realizable and intended to be held for
not more than one year from the date on which such investments are
made, are classified as current investments. All other investments are
classified as long-term investments.
All investments are usually measured at cost.
Current investments are carried in the financial statements at lower of
the cost and fair value determined in on and individual investment
basis. Long term investments are carried at cost. However, provision
for diminution in value is made to recognize a decline other than
temporary in the value of the Investments.
e. Provisions & Contingent Liability
The Company recognized a provision when there is a present obligation
as a result of past event, and a reliable estimate can be made of the
amount of the obligation. Provisions are determined based on the best
estimate required to settle the obligation at the reporting date. These
estimates are reviewed at each reporting date and adjusted to reflect
the current best estimates.
f. Inventories
Stock In Trade of Shares is Valued at Cost on Fifo Basis
g. Income Tax
Tax expenses comprise current and deferred tax.
Current tax comprises Company's tax liability for the current financial
year as well as additional tax paid, if any, during the year in respect
of earlier years on receipt of demand from the authorities. For
computation of taxable income under the Income Tax Act, 1961, accrual
basis of accounting has been adopted and consistently followed by the
Company. Deferred tax assets and liabilities are computed on the timing
differences at the Balance Sheet date using the tax rate and tax laws
that have been enacted or substantially enacted by the Balance sheet
date. Deferred tax assets are recognized based on management estimates
of reasonable certainty that sufficient taxable income will be
available against which such deferred tax assets can be realized.
Unrecognized deferred tax assets of earlier years are re- assessed and
recognized to the extent that it has become reasonably certain that
future taxable income will be available against which such deferred tax
assets can be realized.
h. Retirement and Employee Benefits
The Company has Defined Benefit plans namely leave encashment and
gratuity for all employees which is accounted for by the Company on
payment Basis.
i. Revenue Recognition
Revenues are recognized to the extent that it is probable that economic
benefit will flow to the Company and revenue can be reliably measured.
It is accounted for net of trade discounts.
j. Earning Per Share
Earnings per Share (EPS) are computed on the basis of net profit after
tax for the year. The number of shares used in computing basic EPS is
weighted average number of shares outstanding during the year. The
diluted EPS is calculated on the same basis as basic EPS, since there
are no dilutive equity shares.
k. Cash Flow. Statement
Cash flows are reported using the indirect method, whereby net profit/
(Loss) before tax is adjusted for the effects of transactions of a
non-cash nature. The cash flows from regular revenue generating,
investing and financing activities of the Company are segregated.
Mar 31, 2011
A) Basis of Accounting:
The accounts are prepared under historical cost convention on
mercantile system of Accounting.
B) Fixed Assets :
The Fixed Assets are recorded at cost less depreciation.
C) Depreciation :
Depreciation on Fixed Assets are provided for in accordance with
Schedule XIV of the Companies Act, 1956 on the straight-line method. In
respect of additions made during the year, Depreciation is charged "on
prorate basis from the date of addition.
D) Investments :
Undiluted Investments are stated at cost. Quoted Investments are stated
at cost and are Long Term. However provision for Diminution in value
is made to recognized for a decline other than temporary in nature
E) Share Issue Expenses :
Share Issue Expenses are written off over a period of Ten years.
F) Contingent Liability :
Contingent Liability is not provided for and is disclosed in notes to
the account.
G) Stock in trade :
Stock in trade of shares is valued at cost.
H) Income Tax :
Income Tax expenses is accrued in accordance with AS 22 "Accounting on
taxes on income" which includes current taxes and deferred taxes,
Unrecognized Deferred Tax assets of earlier years and current year are
recognized to the extent it has become reasonably certain that future
taxable income will be available against which such deferred tax assets
can be realized.
I) Retirement Benefits :
Liabilities in respect of retirement benefits of employees i.e.
gratuity and encashment of earned leave on retirement are accounted
over payment basis .
Mar 31, 2010
A) Basis of Accounting:
The accounts are prepared under historical cost convention on
mercantile system| of Accounting.
B) Fixed Assets :
The Fixed Assets are recorded at cost less depreciation.
C) Depreciation :
Depreciation on Fixed Assets are provided for in accordance with
Schedule XIV of the Companies Act, 1956 on the straight-line method. In
respect of additions made during the year, Depreciation is charged on
provate basis from the udition.
D) Investments:
Unquoted Investments are stated at cost. Quoted Investments are stated
at cost and are Long Term. However provision for Diminution in value is
made to recognized for a decline other than temporary in nature.
E) Share Issue Expenses:
Share Issue Expenses are written off over a period of Ten years.
F) Contingent Liability:
Contingent Liability is not provided for and is disclosed in notes to
the account!
G) Stock in trade:
Stock in trade of shares is valued at cost.
H) Income Tax:
Income Tax-expenses is accrued in accordance with AS 22 "Accounting on
taxes on income" which includes current taxes and deferred taxes,
Unrecognized Deferred Tax assets of earlier years and current year are
recognized to the extent it has become reasonably certain that future
taxable income will be available against which such deferred tax assets
can be realized.
I) Retirement Benefits:
Liabilities in respect of retirement benefits of employees i.e.
gratuity and encashment of earned leave on retirement are accounted on
payment basis.