Mar 31, 2015
1. GENERAL
The Financial Statements have generally been prepared on the historical
cost convention. Accounting policies not specifically referred to
otherwise are in consonance with generally accepted accounting
principals.
2. BASIS OF ACCOUNTING
The company follows the mercantile system of accounting generally
except otherwise stated herein below, if so.
3. FIXED ASSETS
Fixed assets are stated at cost of less accumulated depreciation. No
Depreciation has been provided during the period under consideration.
4. INVESTMENTS Investments are stated at cost.
5. INVENTORIES
The company is not having any type of inventory.
6. REVENUE AND EXPENDITURE RECOGNITION
Revenue is recognized and expenditure is accounted for on their accrual
except insurance claim, claims in respect of material purchased and
sold which are accounted for on cash basis.
7. MISCELLANEOUS EXPENDITURE
Miscellaneous Expenditure such as preliminary expenditure are amortized
over a period of 5 years.
8. DEFER TAX
The Deferred tax is recognized for all temporary differences subject to
the consideration of prudence and at currently available rates.
Deferred Tax assets are recognized only if there is virtual certainty
that they will be realized.
9. FOREIGN CURRENYTRANSACTION There is no such transaction during the
period.
10. CONTINGENT LIABILITIES There is no any contingent liability.
11. TRADE RECEIVABLE AND PAYABLE
Balances of trade payable and receivable are subject to confirmation,
reconciliation and consequential adjustments, if any.
12. RELATED PARTY TRANSACTIONS Subsidiary Company : Millennium Online
(India) Ltd. Loan to Subsidiary : Rs.20000000/-
Interest Received from Subsidiary : Rs.300000/-
Mar 31, 2014
1. GENERAL
The Financial Statements have generally been prepared on the historical
cost convention. Accounting policies not specifically referred to
otherwise are in consonance with generally accepted accounting
principals.
2. BASIS OF ACCOUNTING
The company follows the mercantile system of accounting generally
except otherwise stated herein below, if so.
3. FIXED ASSETS
Fixed assets are stated at cost of less accumulated depreciation. No
Depreciation has been provided during the period under consideration.
4. INVESTMENTS
Investments are stated at cost.
5. INVENTORIES
The company is not having any type of inventory.
6. REVENUE AND EXPENDITURE RECOGNITION
Revenue is recognized and expenditure is accounted for on their accrual
except insurance claim, claims in respect of material purchased and
sold which are accounted for on cash basis.
7. MISCELLANEOUS EXPENDITURE
Miscellaneous Expenditure such as preliminary expenditure are amortized
over a period of 5 years.
8. DEFER TAX
The Deferred tax is recognized for all temporary differences subject to
the consideration of prudence and at currently available rates.
Deferred Tax assets are recognized only if there is virtual certainty
that they will be realized.
9. FOREIGN CURRENY TRANSACTION
There is no such transaction during the year.
10. CONTINGENT LIABILITIES
There is no any contingent liability.
11. TRADE RECEIVABLE AND PAYABLE
Balances of trade payable and receivable are subject to confirmation,
reconciliation and consequential adjustments, if any.
12. RELATED PARTY TRANSACTIONS
There were no transaction between related concern/parties.
13. Employees Benefit Expenses
Particulars Current Year Previous Year
Salary Paid 64150 61035
14. Details of Payment to Auditors
Particulars Current Year Previous Year
As Auditor 15000 15000
Certification 2500 0
15. The amount due to Micro & Small Enterprises are based on the
information available with the company.
16. Figures of the previous year have been regrouped/re-cast wherever
necessary.
Mar 31, 2010
Not Available
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