Mar 31, 2015
1 Method of Accounting
The accounts are prepared on accrual basis under the historical cost
convention and on going concern concept.
2 Revenue Recognition
(i) Revenue in respect of sales of goods is recognised on transfer of
property in the goods to the buyers, which generally coincides with the
delivery of goods.
(ii) The revenue in respect of other income is recognised when no
significant uncertainty to its realisation exists.
3 Audit fees are not booked during the year.
Note 12.2 : Previous Year's Figures :
The Revised Schedule VI has become effective from 1 April, 2012 for the
preparation of financial statements. This has significantly impacted
the disclosure and presentation made in the financial statements.
Previous year's figures have been regrouped / reclassified wherever
necessary to correspond with the current year's classification /
disclosure.
Note 12.3 : The balance of sundry creditors and loans and advances are
subject to confirmation of respective parties, any adjustment, if
required, will be made on receipt of the same.
Note 12.4 : In The Opinion Of Board Of Directors :
1 The Current assets, loans and advances are approximately of the value
stated, if realised in the ordinary course of business.
2 The provision for all known and ascertained liabilities are adequate
and not in excess of the amount reasonably necessary.
3 Expenditure on Employment
The company had no employee during the year, who were in receipt of
remuneration aggregating to :
(1) Not more than Rs. 24,00,000/- for the year, if employee throught
the financial year or
(2) Not more than Rs. 2,00,000/- per month, if employee for the part of
the financial year
4 Expenditure in Foreign Currency Nil
5 Earning in foreign currency Nil
6 Amount remitted during the year in Foreign Currency Nil
Note 12.5 : Income and Expenditure :
The provision of all income and expenses of the year have been done
except those which are uncertain.
Note 12.6 : Related party transactions
Details of related parties:
Description of relationship Names of related parties
Company in which KMP / Relatives of KMP can Sankira Resorts P Ltd,
Significant Influence N V Life Care P Ltd, B
Nanji Construction Pvt.
Ltd, B Nanji Enterprise
Ltd, B Nanji Power Cable
Ltd, B Nanji
Finance Ltd, Samal
Investments Pvt. Ltd
Note: Related parties have been identified by the Management.
Details of related party transactions during the year ended 31 March,
2015 and balances
outstanding as at 31 March, 2015: Entities in which KMP /
relatives of KMP have
significant influence
Balances outstanding at the end of the year
Loans and advances 106091108
(106,119,894)
Mar 31, 2014
1. Method of Accounting :
The accounts are prepared on accrual basis under the historical cost
convention and on going concern concept.
2. Revenue Recognition :
(i) Revenue in respect of sales of goods is recognised on transfer of
property in the goods to the buyers, which generally coincides with the
delivery of goods.
(ii) The revenue in respect of other income is recognised when no
significant uncertainty to its realisation exists.
Note 1.2 : Previous Year''s Figures :
The Revised Schedule VI has become effective from 1 April, 2012 for the
preparation of financial statements. This has significantly impacted
the disclosure and presentation made in the financial statements.
Previous year''s figures have been regrouped / reclassified wherever
necessary to correspond with the current year''s classification /
disclosure.
Note 1.3 :
The balance of sundry creditors and loans and advances are subject to
confirmation of respective parties, any adjust- ment, if required, will
be made on receipt of the same.
Note 1.4 : In The Opinion Of Board Of Directors :
1 The Current assets, loans and advances are approximately of the value
stated, if realised in the ordinary course of business.
2 The provision for all known and ascertained liabilities are adequate
and not in excess of the amount reasonably necessary.
3 Expenditure on Employment :
The company had no employee during the year, who were in receipt of
remuneration aggregating to :
(1) Not more than Rs. 6,00,000/- for the year, if employee throught the
financial year or
(2) Not more than Rs. 50,000/- per month, if employee for the part of
the financial year
Note 1.5 : Income and Expenditure :
The provision of all income and expenses of the year have been done
except those which are uncertain.
Mar 31, 2013
1. Method of Accounting :
The accounts are prepared on accrual basis under the historical cost
convention and on going concern concept.
2. Revenue Recognition :
(i) Revenue in respect of sales of goods is recognised on transfer of
property in the goods to the buyers, which generally coincides with the
delivery of goods.
(ii) The revenue in respect of other income is recognised when no
significant uncertainty to its realisation exists.
Mar 31, 2012
1. Method of Accounting :
The accounts are prepared on accrual basis under the historical cost
convention and on going concern concept.
2. Revenue Recognition :
(i) Revenue in respect of sales of goods is recognised on transfer of
property in the goods to the buyers, which generally coincides with the
delivery of goods.
(ii) The revenue in respect of other income is recognised when no
significant uncertainty to its realisation exists.
Mar 31, 2010
1 Method of Accounting
The accounts are prepared on accrual basis under the historical cost
convention and on going concern concept.
2 Fixed Assets
The Fixed assets are stated at their historical cost of acquisition /
construction. The cost includes incidental or ancillary expenses
relating to the acquisition / installation of assets.
3 Depreciation
Depreciation on Office Building is not proveded as per specified under
section 205(2)(a) of the Companies Act, 1956 in accordance with the
rates specified in Schedule XIV to the Companies Act, 1956.
4 Inventories
Stock of Trading goods is valued at lower of the cost or market value.
5 Investments
Investments are stated at their cost of acquisition.
6 Revenue Recognition
(i) Revenue in respect of sales of goods is recognised on transfer of
property in the goods to the buyers, which generally coincides with the
delivery of goods.
(ii) The revenue in respect of other income is recognised when no
significant uncertainty to its realisation exists.
(iii) Income on advances given to group companies would be recognised
as and when corresponding invest- ment are realised by respecting
companies.
7 Retirement Benefits
Retirement benefits are accounted as and when paid.
8 Miscellaneous Expenditure
Expenses are amortised over a period of Five year.
9 Impairment of Assets
The carriying amounts of assets are reviewed at each balance sheet
date, if there is any indication of impair- ment based on
internal/external factors. An impairment loss will be recognised
wherever the carrying amount of an assets exceeds its estimated
recoverable amount. The recoverable amount is greater of the assets net
selling price and value in use. In assessing the value in use the
estimated future cash flows are discounted to the present value at the
weighted average cost of capital. During the year there is no impaiment
losses on assets of the company.
10 Deferred Tax Assets/(Liabilities)
According the the Accounting Standard (AS-22) on "Accounting for Taxes
on Income" issued by the Institute of Chartered Accountants of India,
the deferred tax assets and liabilities for the year, arising out of
timing difference, if any, are reflected in the Profit and Loss
Account. The cumulative effect, if any, thereof is shown in the Balance
Sheet. The deferred tax assets are recognised only if there is a
reasonable certainty that the assets will be realised in the future.
Mar 31, 2009
1 Method of Accounting
The accounts are prepared on accrual basis under the historical cost
convention and on going concern concept.
2 Fixed Assets
The Fixed assets are stated at their historical cost of acquisition /
construction. The cost includes incidental or ancillary expenses
relating to the acquisition / installation of assets.
3 Depreciation
Depreciation on the Fixed Assets has been provided on W.D.V. method as
specified under section 205(2)(a) of the Companies Act, 1956 in
accordance with the rates specified in Schedule XIV to the Companies
Act, 1956.
4 Inventories
Stock of Trading goods is valued at lower of the cost or market value.
5 Investments
Investments are stated at their cost of acquisition.
6 Revenue Recognition
(i) Revenue in respect of sales of goods is recognised on transfer of
property in the goods to the buyers, which generally coincides with the
delivery of goods.
(ii) The revenue in respect of other income is recognised when no
significant uncertainty to its realisation exists.
7 Retirement Benefits
Retirement benefits are accounted as and when paid.
8 Miscellaneous Expenditure
Expenses are amortised over a period of Five year.