Mar 31, 2015
1. Basis of Preparation:
The financial statements are prepared under the historical cost
convention and the requirements of the Companies Act, 2013.
2. Use of Estimates:
The preparation of financial statements requires the management of the
company to make estimates and assumption that affect the reported
balances of assets and liabilities and disclosures relating to the
contingent liabilities as at the date of the financial statements and
reported amount of incomes and expenses during the year. Examples of
such estimates includes provisions for doubtful debts, employees
retirement benefit plan, Provision for Income Taxes, accounting for
contract cost expected to be incurred to complete the software
development and the useful lives of fixed assets.
3. Fixed Assets:
Fixed Assets are stated at Cost, less accumulated depreciation. Cost
includes expenditure incurred to bring the assets to its present
location and condition.
4. Depreciation:
Depreciation is provided underwritten Down Method at the rate
prescribed under Schedule II of the Companies Act, 2013.
5. Investments:
Investments, being long-term investments, in shares are unquoted and
stated at cost, unless there is other than temporary decline in the
value thereof.
6. Retirement Benefits:
There being no employee of permanent nature serving continuously for
specified period for entitlement to Retirement benefits under the
statutory regulations no provisions therefore was made in the accounts.
The terms of employment does not permit for carry forward and/ or
encashment of leave and hence no provision for leave encashment was made
in the Accounts.
7. Revenue Recognition:
a. Sales are recognized on dispatch to customer.
b. Items of Income and Expenditure are recognised on accrual and
prudent basis.
8. Taxation:
Provision for Taxation is made on the basis of the taxable profits
computed for the current accounting period (reporting period) in
accordance with the Income Tax Act, 1961.
Minimum alternative tax (MAT) paid in accordance to the tax laws, which
gives rise to future economic benefits in the form of adjustment of
future income tax liability, is considered as an asset if there is
convincing evidence that the Company will pay normal income tax after
the tax holiday period. Accordingly, MAT is recognised as an asset in
the balance sheet when it is probable that the future economic benefit
associated with it will flow to the Company and the asset can be
measured reliably.
Deferred Tax expenses or benefit is recognized on timing difference
being the difference between books accounting income and taxable income
that originated in one period and are capable of reversal in one or
more subsequent period. Deferred tax assets and liabilities are
measured using the tax rates and tax law that have been enacted or
substantively enacted by the balance sheet date.
9. Inventory Valuation
There is no inventories in stock during the year.
10. Contingent Liabilities:
Contingent Liabilities are not provided but disclosed by way of notes
under Notes to the Accounts.
11. Earning per Share:
Earning per share is calculated by dividing the net profit or loss for
the period attributable to equity shareholders, by the weighted average
number of equity shares outstanding during the period.
For the purpose of calculating diluted earnings per share, the net
profit or losses for the period attributable to equity shareholders and
weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
12. General:
Accounting Policies not specially referred to are consistent with the
generally accepted accounting practices.
Mar 31, 2014
1 Basis of Preparation:
The financial statements are prepared under the historical cost
convention and the requirements of the Companies Act, 1956.
2. Use of Estimates:
The preparation of financial statements requires the management of the
company to make estimates and assumption that affect the reported
balances of assets and liabilities and disclosures relating to the
contingent liabilities as at the date of the financial statements and
reported amount of incomes and expenses during the year. Examples of
such estimates includes provisions for doubtful debts, employees
retirement benefit plan, Provision for Income Taxes, accounting for
contract cost expected to be incurred to complete the software
development and the useful lives of fixed assets.
3. Fixed Assets:
Fixed Assets are stated at Cost, less accumulated depreciation. Cost
includes expenditure incurred to bring the assets to its present
location and condition.
4. Depreciation:
Depreciation is provided under Written Down Method at the rate
prescribed under Schedule XIV of the Companies Act, 1956.
5. Investments:
Investments, being long-term investments, in shares are unquoted and
stated at cost, unless there is other than temporary decline in the
value thereof.
6. Retirement Benefits:
There being no employee of permanent nature serving continuously for
specified period for entitlement to Retirement benefits under the
statutory regulations no provisions therefore was made in the accounts.
The terms of employment does not permit for carry forward and/or
encashment of leave and hence no provision for leave encashment was
made in the Accounts.
7. Revenue Recognition:
a. Education & Training Income has been recognized at the time of the
enrollment for courses and training programs.
b. Sales are recognized on dispatch to customer.
c. Items of Income and Expenditure are recognised on accrual and
prudent basis.
8. Taxation:
Provision for Taxation is made on the basis of the taxable profits
computed for the current accounting period (reporting period) in
accordance with the Income Tax Act, 1961.
Minimum alternative tax (MAT) paid in accordance to the tax laws, which
gives rise to future economic benefits in the form of adjustment of
future income tax liability, is considered as an asset if there is
convincing evidence that the Company will pay normal income tax after
the tax holiday period. Accordingly, MAT is recognised as an asset in
the balance sheet when it is probable that the future economic benefit
associated with it will flow to the Company and the asset can be
measured reliably.
Deferred Tax expenses or benefit is recognized on timing difference
being the difference between books accounting income and taxable income
that originated in one period and
are capable of reversal in one or more subsequent period. Deferred tax
assets and liabilities are measured using the tax rates and tax law
that have been enacted or substantively enacted by the balance sheet
date.
9. Inventory Valuation
Inventories are carried at lower of cost and net realizable value. Cost
is determined on a weighted average basis. Work-in-progress is carried
at lower of cost or net realisable value. Finished goods are carried at
lower of cost and net realisable value.
10. Contingent Liabilities:
Contingent Liabilities are not provided but disclosed by way of notes
under Notes to the Accounts.
11. Earning per Share:
Earning per share is calculated by dividing the net profit or loss for
the period attributable to equity shareholders, by the weighted average
number of equity shares outstanding during the period.
For the purpose of calculating diluted earnings per share, the net
profit or losses for the period attributable to equity shareholders and
weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
12. General:
Accounting Policies not specially referred to are consistent with the
generally accepted accounting practices.
Mar 31, 2013
1. Basis of Preparation:
The financial statements are prepared under the historical cost
convention and the requirements of the Companies Act, 1956.
2. Use of Estimates:
The preparation of financial statements requires the management of the
company to make estimates and assumption that affect the reported
balances of assets and liabilities and disclosures relating to the
contingent liabilities as at the date of the financial statements and
reported amount of incomes and expenses during the year. Examples of
such estimates includes provisions for doubtful debts, employees
retirement benefit plan, Provision for Income Taxes, accounting for
contract cost expected to be incurred to complete the software
development and the useful lives of fixed assets.
3. Fixed Assets:
Fixed Assets are stated at Cost, less accumulated depreciation. Cost
includes expenditure incurred to bring the assets to its present
location and condition.
4. Depreciation:
Depreciation is provided under Written Down Method at the rate
prescribed under Schedule XIV of the Companies Act, 1956.
5. Investments:
Investments, being long-term investments, in shares are unquoted and
stated at cost, unless there is other than temporary decline in the
value thereof.
6. Retirement Benefits:
There being no employee of permanent nature serving continuously for
specified period for entitlement to Retirement benefits under the
statutory regulations no provisions therefore was made in the accounts.
The terms of employment does not permit for carry forward and/or
encashment of leave and hence no provision for leave encashment was
made in the Accounts.
7. Revenue Recognition:
a. Education & Training Income has been recognized at the time of the
enrollment for courses and training programs.
b. Sales are recognized on dispatch to customer.
c. items of Income and Expenditure are recognised on accrual and
prudent basis.
8. Taxation:
Provision for Taxation is made on the basis of the taxable profits
computed for the current accounting period (reporting period) in
accordance with the Income Tax Act, 1961.
Minimum alternative tax (MAT) paid in accordance to the tax laws, which
gives rise to future economic benefits in the form of adjustment of
future income tax liability, is considered as an asset if there is
convincing evidence that the Company will pay normal income tax after
the tax holiday period. Accordingly, MAT is recognised as an asset in
the balance sheet when it is probable that the future economic benefit
associated with it will flow to the Company and the asset can be
measured reliably.
Deferred Tax expenses or benefit is recognized on timing difference
being the difference between books accounting income and taxable income
that originated in one period and are capable of reversal in one or
more subsequent period. Deferred tax assets and liabilities are
measured using the tax rates and tax law that have been enacted or
substantively enacted by the balance sheet date.
9. Inventory Valuation
Inventories are carried at lower of cost and net realizable value. Cost
is determined on a weighted average basis. Work-in-progress is carried
at lower of cost or net realisable value. Finished goods are carried at
lower of cost and net realisable value.
10.Contingent Liabilities:
Contingent Liabilities are not provided but disclosed by way of notes
under Notes to the Accounts.
11.Earning per Share:
Earning per share is calculated by dividing the net profit or loss for
the period attributable to equity shareholders, by the weighted average
number of equity shares outstanding during the period.
For the purpose of calculating diluted earnings per share, the net
profit or losses for the period attributable to equity shareholders and
weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
12.General:
Accounting Policies not specially referred to are consistent with the
generally accepted accounting practices.
Mar 31, 2012
1. Basis of Preparation :
The financial statements are prepared under the historical cost
convention and the requirements of the Companies Act, 1956.
2. Use of Estimates :
The preparation of financial statements requires the management of the
company to make estimates and assumption that affect the reported
balances of assets and liabilities and disclosures relating to the
contingent liabilities as at the date of the financial statements and
reported amount of incomes and expenses during the year. Examples of
such estimates includes provisions for doubtful debts, employees
retirement benefit plan, Provision for Income Taxes, accounting for
contract cost expected to be incurred to complete the software
development and the useful lives of fixed assets.
3. Fixed Assets :
Fixed Assets are stated at Cost, less accumulated depreciation. Cost
includes expenditure incurred to bring the assets to its present
location and condition. Old and absolute computers sold out this year.
4. Depreciation :
Depreciation is provided under Straight Line methods at the rates
prescribed under Schedule XIV of the Companies Act, 1956 except
Computer Systems which is provided under Written Down Method at the
rate prescribed under Schedule XIV of the Companies Act, 1956.
5. Investments :
Investments, being long-term investments, in shares are unquoted and
stated at cost, unless there is other than temporary decline in the
value thereof.
6. Retirement Benefits :
Contributions to defined contribution retirement benefit schemes are
recognized as expenses when employees have rendered services entitling
them to contributions.
For defined benefit schemes, the cost of providing benefits is
determined using the Projected United Credit Methods, with actuarial
valuations being carried out at each balance sheet date, Actuarial
gains and losses are recognized in full in the profit and loss account
for the period in which they occur, Past service cost is recognised
immediately to the extent that the benefit are already vested, and
otherwise is amortized on a straight-line basis over the average period
until the benefits become vested.
The retirement benefit obligation recognised in the balance sheet
represents the present value of the defined benefit obligation as
adjusted for unrecognized past service cost, and as reduced by the fair
value of scheme assets. Any asset resulting from this calculation is
limited to the present value of available refunds and reductions in
future contributions to the scheme.
7. Revenue Recognition :
a. Education & Training Income has been recognized at the time of the
enrollment for courses and training programs.
b. Sales are recognized on dispatch to customer.
c. Items of Income and Expenditure are recognised on accrual and
prudent basis.
8. Taxation :
Provision for Taxation is made on the basis of the taxable profits
computed for the current accounting period (reporting period) in
accordance with the Income Tax Act, 1961.
Minimum alternative tax (MAT) paid in accordance to the tax laws, which
gives rise to future economic benefits in the form of adjustment of
future income tax liability, is considered as an asset if there is
convincing evidence that the Company will pay normal income tax after
the tax holiday period. Accordingly, MAT is recognised as an asset in
the balance sheet when it is probable that the future economic benefit
associated with it will flow to the Company and the asset can be
measured reliably. Deferred Tax expenses or benefit is recognized on
timing difference being the difference between books accounting income
and taxable income that originated in one period and are capable of
reversal in one or more subsequent period. Deferred tax assets and
liabilities are measured using the tax rates and tax law that have been
enacted or substantively enacted by the balance sheet date.
9. Inventory Valuation
Inventories are carried at lower of cost and net realizable value. Cost
is determined on a weighted average basis. Work-in-progress is carried
at lower of cost or net realisable value. Finished goods are carried at
lower of cost and net realisable value.
10. Contingent Liabilities :
Contingent Liabilities are not provided''but disclosed by way of notes
under Notes to the Accounts.
11. Earning per Share :
Earning per share is calculated by dividing the net profit or loss for
the period attributable to equity shareholders, by the weighted average
number of equity shares outstanding during the period.
For the purpose of calculating diluted earnings per share, the net
profit or losses for the period attributable to equity shareholders and
weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
12. General:
Accounting Policies not specially referred to are consistent with the
generally accepted accounting practices.
Mar 31, 2010
1. Basis of Preparation :
The financial statements are prepared under the historical cost
convention and the requirements of the Companies Act, 1956.
2. Use of Estimates :
The preparation of financial statements requires the management of the
company to make estimates and assumption that affect the reported
balances of assets and liabilities and disclosures relating to the
contingent liabilities as at the date of the financial statements and
reported amount of incomes and expenses during the year. Examples of
such estimates includes provisions for doubtful debts, employees
retirement benefit plan, Provision for Income Taxes, accounting for
contract cost expected to be incurred to complete the software
development and the useful lives of fixed assets.
3. Fixed Assets :
Fixed Assets are stated at Cost, less accumulated depreciation. Cost
includes expenditure incurred to bring the assets to its present
location and condition.
4. Depreciation :
Depreciation is provided under Straight Line methods at the rates
prescribed under Schedule XIV of the Companies Act, 1956 except this
year new Computer Systems which is provided under Written Down Method
at the rate prescribed under Schedule XIV of the Companies Act, 1956.
5. Investments :
Investments, being long-term investments, in shares are unquoted and
stated at cost, unless there is other than temporary decline in the
value thereof.
6. Retirement Benefits :
Contributions to defined contribution retirement benefit schemes are
recognized as expenses when employees have rendered services entitling
them to contributions.
For defined benefit schemes, the cost of providing benefits is
determined using the Projected United Credit Methods, with actuarial
valuations being carried out at each balance sheet date, Actuarial
gains and losses are recognized in full in the profit and loss account
for the period in which they occur, Past service cost is recognised
immediately to the extent that the benefit are already vested, and
otherwise is amortized on a straight-line basis over the average period
until the benefits become vested.
The retirement benefit obligation recognised in the balance sheet
represents the present value of the defined benefit obligation as
adjusted for unrecognized past service cost, and as reduced by the fair
value of scheme assets. Any asset resulting from this calculation is
limited to the present value of available refunds and reductions in
future contributions to the scheme.
7. Revenue Recognition :
a. Education & Training Income has been recognized at the time of the
enrollment for courses and training programs.
b. Sales are recognized on dispatch to customer.
c. Items of Income and Expenditure are recognised on accrual and
prudent basis.
8. Taxation :
Provision for Taxation is made on the basis of the taxable profits
computed for the current accounting period (reporting period) in
accordance with the Income Tax Act, 1961.
Minimum alternative tax (MAT) paid in accordance to the tax laws, which
gives rise to future economic benefits in the form of adjustment of
future income tax liability, is considered as an asset if there is
convincing evidence that the Company will pay normal income tax after
the tax holiday period. Accordingly, MAT is recognised as an asset in
the balance sheet when it is probable that the future economic benefit
associated with it will flow to the Company and the asset can be
measured reliably.
Deferred Tax expenses or benefit is recognized on timing difference
being the difference between books accounting income and taxable income
that originated in one period and are capable of reversal in one or
more subsequent period. Deferred tax assets and liabilities are
measured using the tax rates and tax law that have been enacted or
substantively enacted by the balance sheet date.
9. Inventory Valuation
Inventories are carried at lower of cost and net realizable value. Cost
is determined on a weighted average basis. Work-in-progress is carried
at lower of cost or net realisable value. Finished goods are carried at
lower of cost and net realisable value.
10. Contingent Liabilities:
Contingent Liabilities are not provided but disclosed by way of notes
under Notes to the Accounts.
11. Earning per Share :
Earning per share is calculated by dividing the net profit or loss for
the period attributable to equity shareholders, by the weighted average
number of equity shares outstanding during the period. For the purpose
of calculating diluted earnings per share, the net profit or losses for
the period attributable to equity shareholders and weighted average
number of shares outstanding during the period are adjusted for the
effects of all dilutive potential equity shares.
12. General:
Accounting Policies not specially referred to are consistent with the
generally accepted accounting practices.
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