Mar 31, 2014
1. General:
Basis of Preparation of Financial Statements:
The financial statements have been prepared to comply in all material
respects in with the Indian Generally Accepted Accounting Principles
(IGAAP) in India under the historical cost basis. IGAAP comprises
mandatory accounting standards as specified in Companies Accounting
Standards Rules, 2006, relevant guidelines issued by Securities
Exchange Board of India, and relevant provisions of Companies Act, 1956
as issued from time to time,. The financial statements are prepared
under the historical cost convention and accrual basis and in
accordance with the Generally Accepted Accounting Principles in India
and the requirements of the Companies Act 1956.
2. Revenue Recognition:
(i) The Company follows the mercantile system of Accounting and
recognises income and expenditure on accrual basis. ''
(ii) Revenue is not recognised on the grounds of prudence, until
realised in respect of liquidated damages, delayed payments as recovery
of the amounts are not certain.
3. Fixed Assets:
(i) Fixed assets are stated at cost less accumulated depreciation. Cost
of acquisition of fixed assets is inclusive of freight, duties, taxes
and incidental expenses thereto.
4. Depreciation and Amortisation:
(i) Depreciation is provided on straight line method on pro-rata basis
and at the rates and manner specified in the Schedule XIV of the
Companies Act, 1956.
5. Inventories:
Inventories i.e., shares are valued at cost or market price whichever
is lower.
Mar 31, 2013
1 .General:
Basis of preparation of financial statements: - The financial
statements have been prepared to comply in all materia! respects in
with the Indian Generally Accepted Accounting Principles(SGAAP) in
India under the historical cost basis.lGAAP comprises mandatory
accounting standards as ¦ specified in Companies Accounting Standards
Rules, 2006, relevant guidelines issued by Securities Exchange Board of
India, and relevant provisions of - Companies Act, 1956 as issued from
time to time.-The financial statements are prepared under the
historical cost convention and accrual basis and in accordance with the
Generally Accepted Accounting Principles in India and the requirements
of the Companies Act, 1956.
2.Revenue Recognition:
(i) The Company follows the mercantile system of Accounting and
recognises income and expenditure on accrual basis.
(ii) Revenue is not recognized on the grounds of prudence, until
realised in respect of liquidated damages, delayed payments as recovery
of the amounts are not certain.
3.Fixed Assets:
(i) Fixed assets are stated at cost less accumulated depreciation. Cost
of acquisition of fixed assets is inclusive of freight, duties, taxes
and incidental expenses thereto.
4.Depreciation and Amortisation:
(i) Depreciation is provided on straight line method on pro-rata basis
and at the rates and manner specified in the Schedule XIV of the
Companies Act, 1956.
5.Inventories:
Inventories ke., shares are valued at cost or market price whichever is
lower.
Mar 31, 2012
General:
(i) These accounts are prepared on the historical cost basis and on the
accounting principles of a going concern.
(ii) Accounting policies not specifically referred to otherwise are
consistent and in consonance with generally accepted accounting
principles.
Revenue Recognition:
(i) The Company follows the mercantile system of Accounting and
recognises income and expenditure on accrual basis.
(ii) Revenue is not recognised on the grounds of prudence, until
realised in respect of liquidated damages, delayed payments as recovery
of the amounts are not certain.
Fixed Assets:
(i) Fixed assets are stated at cost less accumulated depreciation. Cost
of acquisition of fixed assets is inclusive of freight, duties, taxes
and incidental expenses thereto.
Depreciation and Amortisation:
(i) Depreciation is provided on straight line method on pro-rata basis
and at the rates and manner specified in the Schedule XIV of the
Companies Act, 1956.
Inventories:
Inventories i.e., shares are valued at cost or market price whichever
is lower.
Taxation:
The current charge for income tax is calculated in accordance with the
relevant tax regulations applicable to the Company. Deferred tax asset
and liability is recognised for future tax consequences attributable to
the timing differences that result between the profit offered for
income tax and the profit as per the financial statements
Deferred tax liability & Asset are measured as per the tax rates/laws
that have been enacted or substantively enacted by the Balance Sheet
date.
EPS
The Earning considered in ascertaining the Company's earning per share
comprises net profit after Tax. The number of shares used in computing
basic earning per share is weighted average number of shares
outstanding during the year.
As Company earned Loss EPS is not calculated.
Gratuity
No provision for gratuity has been made as no employee has put in
qualifying period of service for entitlement of this benefit.
Mar 31, 2010
General:
(i) These accounts are prepared on the historical cost basis and on the
accounting principles of a going concern.
(ii) Accounting policies not specifically referred to otherwise are
consistent and in consonance with generally accepted accounting
principles.
Revenue Recognition:
(i) The Company follows the mercantile system of Accounting and
recognises income and expenditure on accrual basis. .
(ii) Revenue is not recognised on the grounds of prudence, until
realised in respect of liquidated damages, delayed payments as recovery
of the amounts are not certain.
Fixed Assets:
(i) Fixed assets are stated at cost less accumulated depreciation. Cost
of acquisition of fixed assets is inclusive of freight, duties, taxes
and incidental expenses thereto.
Depreciation and Amortisation:
(i) Depreciation is provided on straight line method on pro-rata basis
and at the rates and manner specified in the Schedule XIV of the
Companies Act 1956.
Inventories:
Inventories i.e., shares are valued at cost or market price whichever
is lower.
Taxation :
The current charge for income tax is calculated in accordance with the
relevant tax regulations applicable to the Company. Deferred tax asset
and liability is recognised for future tax consequences attributable to
the timing differences that result between the profit offered for
income tax and the profit as per the financial statements. Deferred tax
asset & liability are measured as per the tax rates/taws that have been
enacted or substantively enacted by the Balance Sheet date.
EPS
The Earning considered in ascertaining the Companys earning per share
comprises net profit after Tax. The number of shares used in computing
basic earning per share is weighted average number of shares
outstanding during the year.
Gratuity
No provision for gratuity has been made as no employee has put in
qualifying period of service for entitlement of this benefit
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