Mar 31, 2015
1.i Basis of preparation of Financial Statements
The financial statements are prepared and presented under the
historical cost convention on accrual basis of accounting in accordance
with the generally accepted accounting principles in India ("GAAP"),
applicable Accounting Standards issued by The Institute of Chartered
Accountants of India and under the historical cost convention, on
accrual basis.
1.ii Revenue Recognition
Revenue is being recognized in accordance with the guidance Note on
Accrual Basis of Accounting issued by The Institute of Chartered
Accountants of India. Accordingly wherever there are uncertainties in
the realization of income, the same is not accounted for till such time
the uncertainty is resolved. Income from sale of shares is recognized
on the execution of transaction on the stock exchange. Income from
jobbing operation and from F&O Activities is recognized on the
settlement date. Income from interest on loan given is recognized on a
time proportion basis at the time of squared up of interest bearing
loan accounts or at the end of financial year, which ever is earlier.
Dividend income is recognized on receipt basis.
1.iii Treatment of Expenses
All expenses are accounted for on accrual basis.
1.iv Fixed Assets
Fixed Assets are stated at historical cost, less depreciation. Costs of
fixed assets include taxes, duties, freight and other expense
incidental and related there to the construction, acquisition, and
installation of respective assets.
1.v Borrowing Cost
Borrowing costs that are allocated to the acquisition or construction
of qualified assets are capitalized as part of cost of such assets. A
qualifying asset in one that necessarily takes substantial period of
time to get ready for intended use. All other borrowing costs are
charges to revenue.
1.vi Depreciation
Depreciation is provided on fixed assets on the basis of written down
value method on pro-rata basis at the useful life prescribed in
schedule II to the Companies Act, 2013.
1.vii Inventories
Stock-in-trade (quoted) is valued at cost (on first-in-first-out (FIFO)
basis) or market prices, whichever is lower.
1.viii Taxation
Provision for current income tax has been made as per the provisions of
the Income Tax Act. Deferred tax is recognized, subject to the
consideration of prudence, on timing difference, being the difference
between taxable income and accounting income that originate in one
period and are capable of reversal in one or more subsequent periods.
1.ix Employees Benefits
No provision has been made for the retirement benefits payable to the
employees since no employee has yet put in the qualifying period of
service and the liability for the same will be provided when it becomes
due. Provisions of provident fund and ESI have not been made, as the
provisions of the same are yet not applicable to the company. The
company is not paying leave encashment benefits to its employees as per
the rules of the company.
1.x Leases
The Company has taken office building on lease, which is classified as
an Operating Lease and lease payments are recognized as an expenses.
1.xi Earnings Per Share
Basic earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period.
1.xii Accounting for Provisions, Contingent Liabilities and Contingent
Assets Provisions are recognized when there is a present legal or
statutory obligation as a result of past events, where it is probable
that there will be outflow of resources to settle the obligation and
when a reliable estimate of the amount of the obligation can be made.
Contingent Liabilities are recognized only when there is a possible
obligation arising from past events due to occurrence or non-
occurrence of one or more uncertain future events, not wholly within
the control of the Company, or where any present obligation cannot be
measured in terms of future outflow of resources or where a reliable
estimate of the obligation cannot be made. Obligations are assessed on
an ongoing basis and only those having a largely probable outflow of
resources are provided for. Contingent Assets neither recognized nor
disclosed.
Mar 31, 2014
1.i Basis of preparation of Financial Statements
The financial statements are prepared and presented under the
historical cost convention on accrual basis of accounting in accordance
with the generally accepted accounting principles in India
("GAAP"), applicable Accounting Standards issued by The Institute
of Chartered Accountants of India and under the historical cost
convention, on accrual basis.
1.ii Revenue Recognition
Revenue is being recognized in accordance with the guidance Note on
Accrual Basis of Accounting issued by The Institute of Chartered
Accountants of India. Accordingly wherever there are uncertainties in
the realization of income, the same is not accounted for till such time
the uncertainty is resolved. Income from sale of shares is recognized
on the execution of transaction on the stock exchange. Income from
jobbing operation and from F80 Activities is recognized on the
settlement date. Income from interest on loan given is recognized on a
time proportion basis at the time of squared up of interest bearing
loan accounts or at the end of financial year, which ever is earlier.
Dividend income is recognized on receipt basis.
1.iii Treatment of Expenses
All expenses are accounted for on accrual basis.
1.iv Fixed Assets
Fixed Assets are stated at historical cost, less depreciation. Costs of
fixed assets include taxes, duties, freight and other expense
incidental and related there to the construction, acquisition, and
installation of respective assets.
1.v Borrowing Cost
Borrowing costs that are allocated to the acquisition or construction
of qualified assets are capitalized as part of cost of such assets. A
qualifying asset in one that necessarily takes substantial period of
time to get ready for intended use. All other borrowing costs are
charges to revenue.
1.vi Depreciation
Depreciation is provided on fixed assets on the basis of written down
value method on pro-rata basis at the rates prescribed in schedule XIV
to the Companies Act, 1956.
1.vii Inventories
Stock-in-trade (quoted) is valued at cost (on first-in-first-out (FIFO)
basis) or market prices, whichever is lower.
1.viii Taxation
Provision for current income tax has been made as per the provisions of
the Income Tax Act.
Deferred tax is recognized, subject to the consideration of prudence,
on timing difference, being the difference between taxable income and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods.
1.ix Employees Benefits
Provision of Gratuity has not been made, as presently no employee is
eligible for the same. Provisions of provident fund and ESI have not
been made, as the provisions of the same are yet not applicable to the
company. The company is not paying leave encashment benefits to its
employees as per the rules of the company.
1.x Leases
The Company has taken office building on lease, which is classified as
an Operating Lease.
1.xi Earnings Per Share
Basic earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period.
1.xii Contingent liabilities
Contingent liabilities are not provided for in the accounts but are
disclosed in notes to accounts.
Mar 31, 2013
I Basis of preparation of Financial Statements
Thefinancial statementsare prepared and presented underthe historical
cost convention on accrual basis of accounting in accordance with the
generally accepted accounting principles in India ("GAAP"), applicable
Accounting Standards issued by The Institute of CharteredAccounlants of
India and underthe historical cost convention, on accrual basis. 1.
ii Revenue Recognition
Revenue is being recognized in accordance with the guidance Note on
Accrual Basis of Accounting issued by The Institute of Chartered
Accountants oflndia.Accordingly wherever there are uncertainties in the
realization of income, the same is notaccounted for till such time the
uncertainly is resolved.
Income from sale of shares is recognized on the execution of
transaction on the stock exchange. Income from jobbing operation and
from F&O
Activities is recognized on thesettlementdate. Income frominterest on
loan given is recognized onatime proportion basisatthe time ofsquared
up of interest bearing loan accountsorattheend of financial year, which
everis earlier Dividend income is recognized on receiptbasis.
.iii
TreatmentofExpenses All expenses are accounted for on accrual basis.
iv FixedAssets
Fixed Assets are stated at historical cost, less depreciation.
Costsoffixed assets include taxes.duties.freightand other expense
incidental and related there to the construction, acquisition, and
installation of respective assets. 1
v Borrowing Cost
Borrowing costs thatare allocated tothe acquisition or construction of
qualified assets are capitalized as part of cost of such assets.
Aqualifying assetinone that necessarily takes substantial period of
time to getready for intended use.Allother borrowing costs are charges
to revenue. 1.
vi Depreciation
Depreciation is provided on fixed assetson the basisof written down
value method on pro-rata basisatthe rates prescribed in schedule
XlVtothe Companies Act, 1956. I.
vii Inventories
Stock-in-trade (quoted)
isvaluedatcost(onfirst-in-first-out(FIFO)basis)or market prices,
whbhever is lower.
viii Taxation
Provision for current income tax has been made as perthe provisionsof
the Income TaxAct.
Deferred tax is recognized, subject to the consideration of prudence,
on timing difference, being the difference between taxable income and
accounting income that originate in one period and are capable of
reversal in one or more subsequentperiods. 1.
ix Employees Benefits
ProvisionofGratuityhas not been made, as presently no employee is
eligible forthe same. Provisions of providentfund and ESI have not been
made, as the provisions of the same areyetnotapplicable to the company.
The company is not paying leaveencashmentbenefits to its employees as
per the rules of thecompany 1a Leases
The company has taken office building on lease, which is classified as
an Operating Lease. 1.
xi Earnings Per Share
Basicearnings pershareare calculated bydividing the
netprofitorlossforthe period attributabletoequityshareholders by
theweighted average numberofequilysharesoutstandingduring the period.
1.
xii Contingent liabilities
Contingentliabilitiesare not provided forin the accounts
butaredisclosed in notes to accounts.
Mar 31, 2012
1.i Basis of preparation of Financial Statements
The financial statements are prepared and presented under the
historical cost convention on accrual basis of accounting in accordance
with the generally accepted accounting principles in India ("GAAP"),
applicable Accounting Standards issued by The Institute of Chartered
Accountants of India and under the historical cost convention, on
accrual basis.
1.ii Revenue Recognition
Revenue is being recognized in accordance with the guidance Note on
Accrual Basis of Accounting issued by The Institute of Chartered
Accountants of India. Accordingly wherever there are uncertainties in
the realization of income, the same is not accounted for till such time
the uncertainty is resolved.
Income from sale of shares is recognized on the execution of
transaction on the stock exchange. Income from jobbing operation and
from F&O Activities is recognized on the settlement date. Income from
interest on loan given is recognized on a time proportion basis at the
time of squared up of interest bearing loan
accounts or at the end of financial year, which ever is earlier.
Dividend income is recognized on receipt basis.
1.iiiTreatment of Expenses
All expenses are accounted for on accrual basis.
1.iv Fixed Assets
Fixed Assets are stated at historical cost, less depreciation. Costs of
fixed assets include taxes, duties, freight and other expense
incidental and related there to the construction, acquisition, and
installation of respective assets.
1.v Borrowing Cost
Borrowing costs that are allocated to the acquisition or construction
of qualified assets are capitalized as part of cost of such assets. A
qualifying asset in one that necessarily takes substantial period of
time to get ready for intended use. All other borrowing costs are
charges to revenue.
1.vi Depreciation
Depreciation is provided on fixed assets on the basis of written down
value method on pro-rata basis at the rates prescribed in schedule XIV
to the Companies Act, 1956.
1.vii Inventories
Stock-in-trade (quoted) is valued at cost (on first-in-first-out (FIFO)
basis) or market prices, whichever is lower.
1.viiiTaxation
Provision for current income tax has been made as per the provisions of
the Income Tax Act.
Deferred tax is recognized, subject to the consideration of prudence,
on timing difference, being the difference between taxable income and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods.
1.ix Employees Benefits
Provision of Gratuity has not been made, as presently no employee is
eligible for the same. Provisions of provident fund and ESI have not
been made, as the provisions of the same are yet not applicable to the
company. The company is not paying leave encashment benefits to its
employees as per the rules of the company.
1.x Leases
The company has taken office building on lease, which is classified as
an Operating Lease.
1.xi Earnings Per Share
Basic earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period.
1.xii Contingent liabilities
Contingent liabilities are not provided for in the accounts but are
disclosed in notes to accounts.
Mar 31, 2010
1) Basis of preparation of Financial Statements
The financial statements are prepared and presented under the
historical cost convention on accrual basis of accounting in accordance
with the generally accepted accounting principles in India (ÃGAAPÃ),
applicable Accounting Standards issued by The Institute of Chartered
Accountants of India and under the historical cost convention, on
accrual basis.
2) Revenue Recognition
Revenue is being recognized in accordance with the guidance Note on
Accrual Basis of Accounting issued by The Institute of Chartered
Accountants of India. Accordingly wherever there are uncertainties in
the realization of income, the same is not accounted for till such time
the uncertainty is resolved.
Income from sale of shares is recognized on the execution of
transaction on the stock exchange. Income from jobbing operation and
from F&O Activities is recognized on the settlement date. Income from
interest on loan given is recognized on a time proportion basis at the
time of squared up of interest bearing loan accounts or at the end of
financial year, which ever is earlier. Dividend income is recognized on
receipt basis.
3) Treatment of Expenses
All expenses are accounted for on accrual basis, however, listing fees
payable to Jaipur Stock Exchange (JSE), Cochin Stock Exchange and Delhi
Stock Exchange (DSE) pertaining to previous years have been paid during
the year and accounted for in the books of accounts. The company is in
the process of delist its scrip from two stock exchanges except from
DSE.
4) Fixed Assets
Fixed Assets are stated at historical cost, less depreciation. Costs of
fixed assets include taxes, duties, freight and other expense
incidental and related there to the construction, acquisition, and
installation of respective assets.
5) Capital Work-in-progress
The costs incurred on that assets for which the construction is under
progress and are not ready for their intended use on the date of
financial statements, are shown under the head- Capital work-in-
progress.
6) Borrowing Cost
Borrowing costs that are allocated to the acquisition or construction
of qualified assets are capitalized as part of cost of such assets. A
qualifying asset in one that necessarily takes substantial period of
time to get ready for intended use. All other borrowing costs are
charges to revenue.
7) Depreciation
Depreciation is provided on fixed assets on the basis of written down
value method on pro-rata basis at the rates prescribed in schedule XIV
to the Companies Act, 1956. No depreciation has been provided on the
Capital work-in-progress.
8) Inventories
Stock-in-trade (quoted) is valued at cost (on first-in-first-out (FIFO)
basis) or market prices, whichever is lower. Unquoted stock-in-trade is
valued at cost.
9) Taxation
Provision for current income tax has been made as per the provisions of
the Income Tax Act.
Deferred tax is recognized, subject to the consideration of prudence,
on timing difference, being the difference between taxable income and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods.
10) Employees Benefits
Provision of Gratuity has not been made, as presently no employee is
eligible for the same. Provisions of provident fund and ESI have not
been made, as the provisions of the same are yet not applicable to the
company. The company is not paying leave encashment benefits to its
employees as per the rules of the company.
11) Leases
The company has taken office building on lease, which is classified as
an Operating Lease.
12) Earnings Per Share
Basic earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period.
13) Contingent liabilities
Contingent liabilities are not provided for in the accounts but are
disclosed in notes to accounts.
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