Mar 31, 2014
(A) METHOD OF ACCOUNTING:
The Accounts of the Company are prepared under the Historical Cost
Convention using the Mercantile Method of Accounting.
(B) FIXED ASSETS:
Company has no fixed Assets at the end of financial year hence question
of its valuation does not arise.
(C) DEPRECIATION:
The question of providing Depreciation in absence of Fixed Assets does
not arise.
(D) INVESTMENTS:
The investments are shown at cost and are inclusive of related
expenses. Income from these deposit & Investment is accounted on
Receipt basis from the available information.
(E) INVENTORY:
Inventories are valued at a cost or net realizable price whichever is
lower.
(F) RETIREMENT BENEFITS:
Gratuity and Provident Fund are not provided in the books since not
applicable.
(G) CAPITAL ISSUE EXPENDITURE:
Company has written off Preliminary and Pre-operative expenses
amounting to Rs. 3,04,303 during the year.
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