Mar 31, 2015
A. Basis of Accounting
The Accounts are prepared on historical cost conventions on a going
concern basis. All expenditure and income are accounted on accrual
basis. These statements have been prepared in accordance with
applicable mandatory Accounting Standards. Accounting Policies not
specifically referred to otherwise are consistent and in conso- nance
with Generally Accepted Accounting Policies.
b. Fixed Assets
Fixed assets are stated at historical cost, which includes expenditure
incurred in acquisition or construction and other related preoperative
expenses up to the commissioning/installation of the assets. Finance
cost such as interest up to the date of commissioning of the assets on
borrowed funds attributable to the acquisition of assets is also
capitalized to relevant assets.
c. Depreciation
Depreciation is provided as per written down value method. Depreciation
on addition/ deletion of assets has been calculated on pro-rata basis
from the date of addition or up to the date of sale/discarding of
assets. Depre- ciation is provided on useful life of the assets as
prescribed in schedule II to the Companies Act,2013.
Lease hold land is capitalized on cash price basis and no writes off is
being made on it, as lease is perpetual and long term.
Intangible asset (web site development) is amortised on a straight line
basis over three years.
d. Inventories
Inventories are valued at the lower of cost and net realisable value.
Cost includes all applicable costs incurred in bringing goods to their
present location and condition, determined on a first in first out
basis.
e. Recognition of Revenue
i) Revenue from sale of goods is recognised on transfer of all
significant risks and rewards of ownership in the goods to the
customer.
ii) Service income is recognized as per the terms of contracts with
customers when the related services are performed or the agreed
milestones are achievd.
iii) All other miscellaneous receipts are recognized when the amounts
are actually received or the realisability is certain.
f. Provisions and Contingent liabilities
Provisions involving substantial degree of estimation in measurement
are recognised when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Li- abilities are not recognised but are disclosed, while
Contingent Assets are neither recognised nor disclosed, in the
financial statements.
g. Employee Benefits
i) All employee benefits payable within twelve months of rendering the
service are classified as short-term em- ployee benefits. Benefits such
as salaries, wages and bonus etc., are recognized in the profit & loss
account in the period in which the employee renders the related
service.
ii) Provision of Gratuity and Provident fund act are not applicable to
the Company as the total numbers of em- ployees on roll of the Company
are below threshold limit specified in the relevant statutes.
h. Income Tax
i) Current Income Tax is measured at the amount expected to be paid to
the tax authorities in accordance with the Indian Income Tax Act.
ii) Deferred taxes are recognized, on timing differences between taxable
income and accounting income/expen- diture that originate in one period
and are capable of reversal in one or more subsequent period. Deferred
Tax assets are recognised only to the extent that there is reasonable
certainty that sufficient future taxable income will be available
against which such deferred tax assets can be realised.
i. Impairments
i) The carrying amounts of assets are reviewed at each Balance Sheet
date to determine whether there is any indication of impairment. If any
indications exist, the assets recoverable amount is estimated. An
impairment loss is recognised wherever the carrying amount of an asset
exceeds its recoverable amount. The recover- able amount is the greater
of the assets net selling price and value in use. In assessing value in
use, the estimated future cash flows are discounted to their present
value based on the average pre-tax borrowing rate, adjusted for risk
specified to the assets.
ii) A previously recognised impairment loss is increased or decreased
depending on changes in circumstances.
iii) After impairment, depreciation is provided on the assets revised
carrying amount over its remaining useful life.
j. Investments
i) Long term investments are valued at their cost including brokerage,
fees and duty. However, if there is decline in value of investment,
other than temporary, the carrying amount of investment is reduced
recognizing the decline in value of each investment.
ii) Current investments are valued at cost or market price, whichever
is lower.
k. Earnings Per Share
In accordance with the Accounting Standard-20 (AS-20) "Earning Per
Share" issued by The Institute of Chartered Accountants of India, Basic
& Diluted Earnings Per Share is computed using the weighted average
number of shares outstanding during the period.
Mar 31, 2014
A. Basis of Accounting
The Accounts are prepared on historical cost conventions on a going
concern basis. All expenditure and income are accounted on accrual
basis. These statements have been prepared in accordance with
applicable mandatory Accounting Standards. Accounting Policies not
specifically referred to otherwise are consistent and in consonance
with Generally Accepted Accounting Policies.
b. Fixed Assets
Fixed assets are stated at historical cost, which includes expenditure
incurred in acquisition or construction and other related preoperative
expenses up to the commissioning/installation of the assets. Finance
cost such as interest up to the date of commissioning of the assets on
borrowed funds attributable to the acquisition of assets is also
capitalized to relevant assets.
c. Depreciation
Depreciation is provided as per written down value method as per rates
given in Schedule XIV of the Companies Act, 1956. Depreciation on
addition/ deletion of assets has been calculated on pro-rata basis from
the date of addition or up to the date of sale/discarding of assets.
Lease hold land is capitalized on cash price basis and no writes off is
being made on it, as lease is perpetual and long term. Intangible
asset (web site development) is amortised on a straight line basis over
three years.
d. Inventories
Inventories are valued at the lower of cost and net realisable value.
Cost includes all applicable costs incurred in bringing goods to their
present location and condition, determined on a first in first out
basis.
e. Recognition of Revenue
i) Revenue from sale of goods is recognised on transfer of all
significant risks and rewards of ownership in the goods to the
customer.
ii) Service income is recognized as per the terms of contracts with
customers when the related services are performed or the agreed
milestones are achieved.
iii) All other miscellaneous receipts are recognized when the amounts
are actually received or the readability is certain.
f. Provisions and Contingent liabilities
Provisions involving substantial degree of estimation in measurement
are recognised when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognised but are disclosed, while
Contingent Assets are neither recognised nor disclosed, in the
financial statements.
g. Employee Benefits
i) All employee benefits payable within twelve months of rendering the
service are classified as short-term employee benefits. Benefits such
as salaries, wages and bonus etc., are recognized in the profit & loss
account in the period in which the employee renders the related
service.
ii) Provision of Gratuity and Provident fund act are not applicable to
the Company as the total numbers of employees on roll h. Income Tax
i) Current Income Tax is measured at the amount expected to be paid to
the tax authorities in accordance with the Indian Income Tax Act.
ii) Deferred taxes are recognized, on timing differences between
taxable income and accounting income/ expenditure that originate in one
period and are capable of reversal in one or more subsequent period.
Deferred Tax assets are recognised only to the extent that there is
reasonable certainty that sufficient future taxable income will be
available against which such deferred tax assets can be realised. i.
Impairments
i) The carrying amounts of assets are reviewed at each Balance Sheet
date to determine whether there is any indication of impairment. If any
indications exist, the assets recoverable amount is estimated. An
impairment loss is recognised wherever the carrying amount of an asset
exceeds its recoverable amount. The recoverable amount is the greater
of the assets net selling price and value in use. In assessing value in
use, the estimated future cash flows are discounted to their present
value based on the average pre-tax borrowing rate, adjusted
for risk specified to the assets. ii) A previously recognised
impairment loss is increased or decreased depending on changes in
circumstances. iii) After impairment, depreciation is provided on the
assets revised carrying amount over its remaining useful
life.
j. Investments
i) Long term investments are valued at their cost including brokerage,
fees and duty. However, if there is decline in value of investment,
other than temporary, the carrying amount of investment is reduced
recognizing the decline in value of each investment.
ii) Current investments are valued at cost or market price, whichever
is lower. k. Earnings Per Share In accordance with the Accounting
Standard-20 (AS-20) "Earning Per Share" issued by The Institute of
Chartered Accountants of India, Basic & Diluted Earnings Per Share is
computed using the weighted average number of shares outstanding during
the period.
1. During the current year and in the previous year, there have been
no movement in the number of equity shares outstanding.
2. Pursuant to the scheme of capital reduction as approved by the
Hon''ble Delhi High Court vide order dated De- cember 15, 2009, the face
and paid up value of each share of the company has been reduced by 90%,
i.e., from Rs. 10 per share to Re. 1 per share. Further, the balance
lying in the share forfeiture account also stands cancelled as per the
terms of the scheme of capital reduction.
Mar 31, 2013
A. Basis of Accounting
The Accounts are prepared on historical cost conventions on a going
concern basis. All expenditure and income are accounted on accrual
basis. These statements have been prepared in accordance with
applicable mandatory Accounting Standards. Accounting Policies not
specifcally referred to otherwise are consistent and in consonance with
Generally Accepted Accounting Policies.
b. Fixed Assets
Fixed assets are stated at historical cost, which includes expenditure
incurred in acquisition or construction and other related preoperative
expenses up to the commissioning/installation of the assets. Finance
cost such as interest up to the date of commissioning of the assets on
borrowed funds attributable to the acquisition of assets is also
capitalized to relevant assets.
c. depreciation
Depreciation is provided as per written down value method as per rates
given in Schedule XIV of the Companies Act, 1956. Depreciation on
addition/ deletion of assets has been calculated on pro-rata basis from
the date of addition or up to the date of sale/discarding of assets.
Lease hold land is capitalized on cash price basis and no writes off is
being made on it, as lease is perpetual and long term. Intangible
asset (web site development) is amortised on a straight line basis over
three years.
d. inventories
Inventories are valued at the lower of cost and net realisable value.
Cost includes all applicable costs incurred in bringing goods to their
present location and condition, determined on a frst in frst out basis.
e. Recognition of Revenue
i) Revenue from sale of goods is recognised on transfer of all
signifcant risks and rewards of ownership in the goods to the customer.
ii) Service income is recognized as per the terms of contracts with
customers when the related services are performed or the agreed
milestones are achieved.
iii) All other miscellaneous receipts are recognized when the amounts
are actually received or the realisability is certain.
f. Provisions and Contingent liabilities
Provisions involving substantial degree of estimation in measurement
are recognised when there is a present obligation as a result of past
events and it is probable that there will be an outfow of resources.
Contingent Liabilities are not recognised but are disclosed, while
Contingent Assets are neither recognised nor disclosed, in the fnancial
statements.
g. Employee Benefts
i) All employee benefts payable within twelve months of rendering the
service are classifed as short-term employee benefts. Benefts such as
salaries, wages and bonus etc., are recognized in the proft & loss
account in the period in which the employee renders the related
service.
ii) Provision of Gratuity and Provident fund act are not applicable to
the Company as the total numbers of employees on roll of the Company
are below threshold limit specifed in the relevant statutes.
h. Income Tax
i) Current Income Tax is measured at the amount expected to be paid to
the tax authorities in accordance with the Indian Income Tax Act.
ii) Deferred taxes are recognized, on timing differences between
taxable income and accounting income/ expenditure that originate in one
period and are capable of reversal in one or more subsequent period.
Deferred Tax assets are recognised only to the extent that there is
reasonable certainty that suffcient future taxable income will be
available against which such deferred tax assets can be realised.
i. impairments
i) The carrying amounts of assets are reviewed at each Balance Sheet
date to determine whether there is any indication of impairment. If any
indications exist, the assets recoverable amount is estimated. An
impairment loss is recognised wherever the carrying amount of an asset
exceeds its recoverable amount. The recoverable amount is the greater
of the assets net selling price and value in use. In assessing value in
use, the estimated future cash fows are discounted to their present
value based on the average pre-tax borrowing rate, adjusted for risk
specifed to the assets.
ii) A previously recognised impairment loss is increased or decreased
depending on changes in circumstances.
iii) After impairment, depreciation is provided on the assets revised
carrying amount over its remaining useful life.
j. investments
i) Long term investments are valued at their cost including brokerage,
fees and duty. However, if there is decline in value of investment,
other than temporary, the carrying amount of investment is reduced
recognizing the decline in value of each investment.
ii) Current investments are valued at cost or market price, whichever
is lower.
k. earnings Per share
In accordance with the Accounting Standard-20 (AS-20) "Earning Per
Share" issued by The Institute of Chartered Accountants of India, Basic
& Diluted Earnings Per Share is computed using the weighted average
number of shares outstanding during the period.
Mar 31, 2012
A. Basis of Accounting
The Accounts are prepared on historical cost conventions on a going
concern basis. All expenditure and income are accounted on accrual
basis. These statements have been prepared in accordance with
applicable mandatory Accounting Standards. Accounting Policies not
specifically referred to otherwise are consistent and in consonance
with Generally Accepted Accounting Policies.
This is the first year of application of the revised Schedule VI to the
Companies Act, 1956 for the preparation of the financial statements of
the company. The revised Schedule VI introduces some significant
conceptual changes as well as new disclosures. These include
classification of all assets and liabilities into current and non-
current. The previous year figures have also undergone a major
reclassification to comply with the requirements of the revised
Schedule VI.
b. Fixed Assets
Fixed assets are stated at historical cost, which includes expenditure
incurred in acquisition or construction and other related preoperative
expenses up to the commissioning/installation of the assets. Finance
cost such as interest up to the date of commissioning of the assets on
borrowed funds attributable to the acquisition of assets is also
capitalized to relevant assets.
c. Depreciation
Depreciation is provided as per written down value method as per rates
given in Schedule XIV of the Companies Act, 1956. Depreciation on
addition/ deletion of assets has been calculated on pro-rata basis from
the date of addition or up to the date of sale/discarding of assets.
Lease hold land is capitalized on cash price basis and no writes off is
being made on it, as lease is perpetual and long term.
Intangible asset (web site development) is amortised on a straight line
basis over three years.
d. Inventories
Inventories are valued at the lower of cost and net realisable value.
Cost includes ail applicable costs incurred in bringing goods to their
present location and condition, determined on a first in first out
basis.
e. Recognition of Revenue
i) Revenue from sale of goods is recognised on transfer of all
significant risks and rewards of ownership in the goods to the
customer.
ii) Service income is recognized as per the terms of contracts with
customers when the related services are performed or the agreed
milestones are achieved.
iii) All other miscellaneous receipts are recognized when the amounts
are actually received or the realisability is certain.
f. Provisions and Contingent liabilities
Provisions involving substantial degree of estimation in measurement
are recognised when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognised but are disclosed, while
Contingent Assets are neither recognised nor disclosed, in the
financial statements.
g. Employee Benefits
i) All employee benefits payable within twelve months of rendering the
service are classified as short-term employee benefits. Benefits such
as salaries, wages and bonus etc., are recognized in the profit & loss
account in the period in which the employee renders the related
service.
ii) Provision of Gratuity and Provident fund act are not applicable to
the Company as the total numbers of employees on roll of the Company
are below threshold limit
: specified in the relevant statutes.
h. Income Tax
i) Current Income Tax is measured at the amount expected to be paid to
the tax authorities in accordance with the Indian Income Tax Act.
ii) Deferred taxes are recognized, on timing differences between
taxable income and accounting income/expenditure that originate in one
period and are capable of reversal in one or more subsequent period.
Deferred Tax assets are recognised only to the extent that there is
reasonable certainty that sufficient future taxable income will be
available against which such deferred tax assets can be realised.
i. Impairments
i) The carrying amounts of assets are reviewed at each Balance Sheet
date to determine whether there is any indication of impairment. If any
indications exist, the assets recoverable amount is estimated.
An impairment loss is recognised wherever the carrying amount of an
asset exceeds its recoverable amount. The recoverable amount is the
greater of the assets net selling price and value in use. In assessing
value in use, the estimated future cash flows are discounted to their
present value based on the average pre-tax borrowing rate, adjusted for
risk specified to the assets.
ii) A previously recognised impairment loss is increased or decreased
depending on changes in circumstances.
iii) After impairment, depreciation is provided on the assets revised
carrying amount over its remaining useful life.
j. Investments
i) Long term investments are valued at their cost including brokerage,
fees and duty. However, if there is decline in value of investment,
other than temporary, the carrying amount of investment is reduced
recognizing the decline in value of each investment.
ii) Current investments are valued at cost or market price, whichever
is lower.
k. Earnings Per Share
In accordance with the Accounting Standard-20 (AS-20) ÃEarning Per
Shareà issued by The Institute of Chartered Accountants of India,
Basic & Diluted Earnings Per Share is computed using the weighted average
number of shares outstanding during the period.
Mar 31, 2011
1. Basis of Accounting
The Accounts are prepared on historical cost conventions on a going
concern basis. All expenditure and income are accounted on accrual
basis. These statements have been prepared in accordance with
applicable mandatory Accounting Standards. Accounting Policies not
specifically referred to otherwise are consistent and in consonance
with Generally Accepted Accounting Policies.
2. Fixed Assets
Fixed assets are stated at historical cost, which includes expenditure
incurred in acquisition or construction and other related preoperative
expenses up to the commissioning/installation of the assets. Finance
cost such as interest up to the date of commissioning of the assets on
borrowed funds attributable to the acquisition of assets is also
capitalized to relevant assets.
3. Depreciation
Depreciation is provided as per written down value method as per rates
given in Schedule XIV of the companies Act, 1956. Depreciation on
addition/ deletion of assets has been calculated on pro-rata basis from
the date of addition or up to the date of sale/discarding of assets.
Lease hold land is capitalized on cash price basis and no writes of is
being made on it, as lease is perpetual and long term.
4. Inventories
Inventories are valued at the lower of cost and net realisable value.
cost includes all applicable costs incurred in bringing goods to their
present location and condition, determined on a first in first out
basis.
5. Recognition of Revenue
a) Revenue from sale of goods is recognised on transfer of all
significant risks and rewards of ownership in the goods to the
customer.
b) Service income is recognized as per the terms of contracts with
customers when the related services are performed or the agreed
milestones are achieved.
c) All other miscellaneous receipts are recognized when the amounts are
actually received or the realisability is certain.
6. Provisions and contingent liabilities
Provisions involving substantial degree of estimation in measurement
are recognised when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
contingent Liabilities are not recognised but are disclosed, while
contingent Assets are neither recognised nor disclosed, in the
financial statements.
7. Employee Benefits
a) All employee benefits payable within twelve months of rendering the
service are classified as short-term employee benefits. Benefits such
as salaries, wages and bonus etc., are recognized in the profit & loss
account in the period in which the employee renders the related
service.
b) Provision of Gratuity and Provident fund act are not applicable to
the company as the total numbers of employees on roll of the company
are below threshold limit specified in the relevant statutes.
8. Income Tax
a) current Income Tax is measured at the amount expected to be paid to
the tax authorities in accordance with the Indian Income Tax Act.
b) Deferred taxes are recognized, on timing differences between taxable
income and accounting income/ expenditure that originate in one period
and are capable of reversal in one or more subsequent period. Deferred
Tax assets are recognised only to the extent that there is reasonable
certainty that sufficient future taxable income will be available
against which such deferred tax assets can be realised.
9. Impairments
a) The carrying amounts of assets are reviewed at each Balance Sheet
date to determine whether there is any indication of impairment. If any
indications exist, the assets recoverable amount is estimated. An
impairment loss is recognised wherever the carrying amount of an asset
exceeds its recoverable amount. The recoverable amount is the greater
of the assets net selling price and value in use. In assessing value in
use, the estimated future cash flows are discounted to their present
value based on the average pre- tax borrowing rate, adjusted for risk
specified to the assets.
b) A previously recognised impairment loss is increased or decreased
depending on changes in circumstances.
c) After impairment, depreciation is provided on the assets revised
carrying amount over its remaining useful life.
10. Investments
a) Long term investments are valued at their cost including brokerage,
fees and duty. However, if there is decline in value of investment,
other than temporary, the carrying amount of investment is reduced
recognizing the decline in value of each investment.
b) Short term investments are valued at cost or market price, whichever
is lower.
11. Earning Per Share (All amounts are in Rupees)
In accordance with the Accounting Standard-20 (AS-20) "Earning Per
Share" issued by The Institute of chartered Accountants of India, Basic
& Diluted Earning Per Share is computed using the weighted average
number of shares outstanding during the period.
Mar 31, 2010
1. Basis of Accounting
The Accounts are prepared on historical cost conventions on a going
concern basis. All expenditure and income are accounted on accrual
basis. These statements have been prepared in accordance with
applicable mandatory Accounting Standards. Accounting Policies not
specifically referred to otherwise are consistent and in consonance
with Generally Accepted Accounting Policies.
2. Fixed Assets
Fixed assets are stated at historical cost, which includes expenditure
incurred in acquisition or construction and other related preoperative
expenses up to the commissioning/installation of the assets. Finance
cost such as interest up to the date of commissioning of the assets on
borrowed funds attributable to the acquisition of assets is also
capitalized to relevant assets.
3. Depreciation
Depreciation is provided as per written down value method as per rates
given in Schedule XIV of the Companies Act, 1956. Depreciation on
addition/ deletion of assets has been calculated on pro-rata basis from
the date of addition or up to the date of sale/discarding of assets.
Lease hold land is capitalized on cash price basis and no writes off is
being made on it, as lease is perpetual and long term.
4. Inventories
Raw material, Stores and Spares are valued at cost on First In First
Out basis. Finished goods. Work in progress is valued at cost which
includes material and variable manufacturing overheads. Scrap is
valued at estimated net realizable value.
5. Recognition of Revenue
a) Revenue in respect of sale is recognized at the point of
dispatch/removal of goods. Sales exclude trade tax but are inclusive/
net of excise duty and trade discount. Sales shown are net of sales
return. Other revenues are recognized on accrual basis.
b) Service income is recognized as per the terms of contracts with
customers when the related services are performed or the agreed
milestones are achieved.
c) All other miscellaneous receipts are recognized when the amounts are
actually received or the realisability is certain.
6. Provisions and Contingent liabilities
Provisions involving substantial degree of estimation in measurement
are recognised when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognised but are disclosed, while
Contingent Assets are neither recognised nor disclosed, in the
financial statements.
7. Employee Benefits
a) All employee benefits payable within twelve months of rendering the
service are classified as short-term employee benefits. Benefits such
as salaries, wages and bonus etc., are recognized in the profit & loss
account in the period in which the employee renders the related
service.
b) Provisions of Gratuity and Provident Fund Act are not applicable to
the Company as the total numbers of employees on roll of the Company
are below threshold limit specified in the relevant statutes.
8. Income Tax
a) Current Income Tax is measured at the amount expected to be paid to
the tax authorities in accordance with the Indian Income Tax Act.
b) Deferred taxes are recognized, on timing differences between taxable
income and accounting income/expenditure that originate in one period
and are capable of reversal in one or more subsequent period. Deferred
Tax assets are recognised only to the extent that there is reasonable
certainty that sufficient future taxable income will be available
against which such deferred tax assets can be realised.
9. Impairments
a) The carrying amounts of assets are reviewed at each Balance Sheet
date to determine whether there is any indication of impairment. If any
indications exist, the assets recoverable amount is estimated. An
impairment loss is recognised wherever the carrying amount of an asset
exceeds its recoverable amount. The recoverable amount is the greater
of the assets net selling price and value in use. In assessing value in
use, the estimated future cash flows are discounted to their present
value based on the average pre-tax borrowing rate, adjusted for risk
specified to the assets.
b) A previously recognised impairment loss is increased or decreased
depending on changes in circumstances.
c) After impairment, depreciation is provided on the assets revised
carrying amount over its remaining useful life.
10. Investments
a) Long term investments are valued at their cost including brokerage,
fees and duty. However, if there is decline in value of investment,
other than temporary, the carrying amount of investment is reduced
recognizing the decline in value of each investment.
b) Short term investments are valued at cost or market price, whichever
is lower.
11. Earning Per Share
In accordance with the Accounting Standard-20 (AS-20) "Earning Per
Share" issued by The Institute of Chartered Accountants of India, Basic
& Diluted Earning Per Share is computed using the weighted average
number of shares outstanding during the period.
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