Mar 31, 2014
A. The financial statements are prepared under historical cost
convention and in accordance with generally accepted accounting
principles (except otherwise referred elsewhere in these notes) and
materially comply with the mandatory accounting standards specified in
Companies (Accounting Standards) Rules,2006 and the Guidance Notes
issued by The Institute ofprinciples (except otherwise referred
elsewhere in these notes) and materially comply with the mandatory
accounting Chartered Accountants of India and the applicable provisions
of the Companies Act, 1956.
B. Generally all items of Income and Expenditure having material effect
on profitability are recognized on accrual basis.
C. Preliminary expenses are being amortized over a period of five years
commencing from the current financial year in which commercial
activities were commenced.
D. investments are stated at cost. Fall, if any, in value of unquoted
investments could not be ascertained due to non-availability of their
Balance Sheet.
E. Quoted Shares are stated at cost.
Unquoted Shares are stated at cost.
F. REVENUE RECOGNITION
a) Income is reconised as per the terms of contract with customers when
the services are rendered.
G. EXPENDITURE RECOGNITION
a) All the expenses are accounted for on accrual basis
H. TAXATION
a) Tax expense comprises of current Current income tax is measured at
the amount expected to be paid to the tax authorities in accordance
with the income Tax Act 1961.
NOTE : 20 OTHER NOTES TO FINANCIAL STATEMENTS
A. No provision has been made in respect of Gratuity payable to
employees. The present liability for future payments of Gratuity is
unascertained.
B. Trade Receivables, Loans & Advances (Dr/Cr.), Trade Payables,
Advances and Deposits (Dr./Cr.) are taken as per balances appearing in
the books of accounts of the Company, as conformation thereof are still
awaited.
C. In the opinion of the Board of Directors, the realizable value of
Non current Assets (Other than Fixed assets not meant for resale) and
Current Assets in the ordinary course of business would not be less
than the amount at which they are appearing in the Balance Sheet and
the provision for all known liabilities is adequate and not in excess
of the amount at which they are stated in the Balance Sheet.
D. Earnings per share
Basic earnings per share are calculated by dividing the net profit or
loss for the year attributable to equity shareholders (after deducting
attributable taxes) by the weighted average number of equity shares
outstanding during the year.
For the purpose of calculating diluted earnings per share, the net
profit/ loss for the year attributable to equity shareholders and the
weighted average number of shares outstanding during the year are
adjusted for the effects of all dilutive potential equity shares.
E. Cash Flow Statement
The cash flow statement is prepared by the indirect method setout in
the accounting standard 3 in cashflow statement. Cash and cash
equivalents for the purpose of cash flow statement comprise cash at
bank and cash in hand .
For the purpose of calculating diluted earnings per share, the net
profit/ loss for the year attributable to equity shareholders and the
weighted average number of shares outstanding during the year are
adjusted for the effects of all dilutive potential equity shares.
F. According to the information provided to us, there were no dues to
suppliers under the Micro, Small and Medium Enterprises Development
Act, 2006.
Mar 31, 2013
A. The financial statements are prepared under historical cost
convention and in accordance with generally accepted accounting
principles (except otherwise referred elsewhere in these notes) and
materially comply with the mandatory accounting standards specified in
Companies (Accounting Standards) Rules,2006 and the Guidance Notes
issued by The Institute ofprinciples (except otherwise referred
elsewhere in these notes) and materially comply with the mandatory
accounting Chartered Accountants of India and the applicable provisions
of the Companies Act, 1956.
B. Generally all items of Income and Expenditure having material effect
on profitability are recognized on accrual basis.
C. Preliminary expenses are being amortized over a period of five years
commencing from the current financial year in which commercial
activities were commenced.
D. Investments are stated at cost. Fall, if any, in value of unquoted
Investments could not be ascertained due to non-availability of their
Balance Sheet.
E. Quoted Shares are stated at cost.
Unquoted Shares are stated at cost.
F. REVENUE RECOGNITION
a) Income is reconised as per the terms of contract with customers when
the services are rendered.
G. EXPENDITURE RECOGNITION
a) All the expenses are accounted for on accrual basis
H. TAXATION
a) Tax expense comprises of current Current income tax is measured at
the amount expected to be paid to the tax authorities in accordance
with the Income Tax Act 1961.
NOTE: 21 OTHER NOTES TO FINANCIAL STATEMENTS
A. No provision has been made in respect of Gratuity payable to
employees. The present liability for future payments of Gratuity is
unascertained.
B. Trade Receivables, Loans & Advances (Dr/Cr.), Trade Payables,
Advances and Deposits (Dr./Cr.) are taken as per balances appearing in
the books of accounts of the Company, as conformation thereof are still
awaited.
C. In the opinion of the Board of Directors, the realizable value of
Non current Assets (Other than Fixed assets not meant for resale) and
Current Assets in the ordinary course of business would not be less
than the amount at which they are appearing in the Balance Sheet and
the provision for all known liabilities is adequate and not in excess
of the amount at which they are stated in the Balance Sheet.
D. Earnings per share
Basic earnings per share are calculated by dividing the net profit or
loss for the year attributable to equity shareholders (after deducting
attributable taxes) by the weighted average number of equity shares
outstanding during the year.
For the purpose of calculating diluted earnings per share, the net
profit/ loss for the year attributable to equity shareholders and the
weighted average number of shares outstanding during the vear are
adjusted for the effects of all dilutive potential equity shares.
NS 6741 6618
E. Cash Flow Statement
The cash flow statement is prepared by the indirect method setout in
the accounting standard 3 in cashflow statement. Cash and cash
equivalents for the purpose of cash flow statement comprise cash at
bank and cash in hand .
For the purpose of calculating diluted earnings per share, the net
profit/ loss for the year attributable to equity shareholders and the
weighted average number of shares outstanding during the vear are
adjusted for the effects of all dilutive potential equity shares.
F. According to the information provided to us, there were no dues to
suppliers under the Micro, Small and Medium Enterprises Development
Act, 2006.
Mar 31, 2012
A. The financial statements are prepared under historical cost
convention and in accordance with generally accepted accounting
principles (except otherwise referred elsewhere in these notes) and
materially comply with the mandatory accounting standards specified in
Companies (Accounting Standards) Rules,2006 and the Guidance Notes
issued by The Institute of principles (except otherwise referred
elsewhere in these notes) and materially comply with the mandatory
accounting Chartered Accountants of India
B. Genera IV all tams of Income and Expenditure having material effect
on profitability are recognized on accrual basis.
C. Preliminary expenses are being amortized over a period of five
years commencing from the current financial year in which
D. Investments are stated at cost. Fall, if any, in value of unquoted
Investments could not be ascertained due to non-availability of their
Unquoted shares are valued "At Cost" and not at "Lower of cost or
fair value/Breakup Value" as prescribed under AS-13. a) Income is
recognized as per the terms of contract with customers when the services
are rendered.
a) Tax expense comprises of current Current income tax is measured at
the amount expected to be paid to the tax authorities
A. No provision has been made in respect of Gratuity payable to
employees. The present liability for future payments of Gratuity is
B. Trade Receivables, Loans & Advances (Dr/Cr.), Trade Payables,
Advances and Deposits (Dr./Cr.) are taken as per balances appearing in
C. In the opinion of the Board of Directors, the realizable value of
Noncurrent Assets (Other than Fixed assets not meant for resale) and
Current Assets in the ordinary course of business would not be less
than the amount at which they are appearing in the Balance Sheet and
the provision for all known liabilities is adequate and not in excess
of the amount at which they are stated in the Balance Sheet
Basic earnings per share are calculated by dividing the net profit or
loss for the year attributable to equity shareholders (after deducting
attributable taxes) by the weighted average number of equity shares
outstanding during the year.
For the purpose of calculating diluted earnings per share, the net
profit/ loss for the year attributable to equity shareholders and the
weighted average number of shares outstanding during the year are
adjusted for the effects of all dilutive potential equity shares.
E. According to the information provided to us, there were no dues to
suppliers under the Micro, Small and Medium Enterprises
F. Previous Year figures have been re-grouped/re-casted and/or
re-arranged wherever found necessary.
G. Till the year ended 31st March 2011, the company was using
pre-revised Schedule VI to the Companies Act 1956, for preparation and
presentation of its financial statements. During the year ended 31st
March 2012, the revised Schedule VI notified under the Companies Act
1956, has become applicable to the Company. The Company has
reclassified previous year''s figures to conform to this year''s
classification. It significantly impacts presentation and disclosures
made in the financial statements, particularly
Mar 31, 2011
1 Basis of Accounting :
The financial statements are prepared under the historical cost
convention and comply with the mandatory accounting standards and
statements issued by The Institute of Chartered Accountants of India
and The Companies Act, 1956. All income and expenditure having a
material bearing on the financial statements are recognised on accrual
basis.
2 Fixed Assets:
Fixed Assets are valued at Cost Less Depreciation
3 Depreciation:
Depreciation on Fixed Assets is provided at Straight Line Method in
Accordance with Schedule XVI to the Companies Act, 1956 but restricted
to the period of use during the year.
4 Investments
Investments are stated at cost.
5 Inventories:
Inventories are valued at cost. 603 500
6 Miscellaneous Expenditure :
Public Issue Expenses & Share Issue Expenses are being proportionately
written off over a period of Ten Years
Mar 31, 2010
1 Basis of Accounting :
The financial statements are prepared under the historical cost
convention and comply with the mandatory accounting standards and
statements issued by The Institute of Chartered Accountants of India
and The Companies Act, 1956. All income and expenditure having a
material bearing on the financial statements are recognised on accrual
basis.
2 Fixed Assets:
Fixed Assets are valued at Cost Less Depredation
3 Depreciation:
Depreciation on Fixed Assets is provided at Straight Line Method in
Accordance with Schedule XVI to the Companies Act, 1956 but restricted
to the period of use during the year.
4 Investments: Investments are stated at cost
5 Inventories:
Inventories are valued at cost. 10,335,000
6 Miscellaneous Expenditure:
Public Issue Expenses & Share Issue Expenses are being proportionately
written off over a period of Ten Years
Mar 31, 2009
BASIS OF PREPARATION OF FINANCIAL STATEMENT:
The financial statements are prepared under the historical cost
convention method .All income and Expenditure having a material bearing
in the financial statement are recognized on accrual basis. The
financial statements have been prepared , in all material respects with
applicable accounting principles in India, the accounting Standard
issued by the institute of Chartered Accountants of India and the
relevant provisions of the Companies Act, 1956 of India
- FIXED ASSETS :
Fixed assets are stated at cost and include incidental and / or
installation expenses incurred in putting the asset DEPRECIATION :
Deprivation on Fixed assets is provided on Straight Line Method in the
manner laid down in schedule XIV to the Companies Act,1956. Dereciauon
on additions to assets during the year is provided on the proportionate
basis
INVESTMENTS:
Investments are stated at cost.
INVENTORIES :
Inventories are valued at cost.
MISCELLANEOUS EXPENDITURE :
Preliminary & Share issue expenses are written off over a period of 10
years in equal installments
FOREIGN CURRENCY TRANSACTIONS :
Transaction in foreign currency are recorded at the rate prevailing on
the date of receipt of money