Mar 31, 2014
1.1 Basis of preparation of financial statements
The financial statements have been prepared and presented under the
historical cost convention on the accrual basis of accounting and
comply with the Accounting Standards issued by the Institute of
Chartered Accountants of India (''ICAI'') and the relevant provisions of
the Companies Act, 1956, to the extent applicable.
1.2 Use of estimates
The preparation of financial statements in conformity with generally
accepted accounting principles (''GAAP'') requires management to make
estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent liabilities as of the date
of financial statements, and the reported amount of revenue and
expenses during the reporting period. The estimates and assumptions
used in the accompanying financial statements are based upon
management''s evaluation of the relevant facts and circumstances as of
the date of the financial statements. Actual results may differ from
the estimates used in preparing the accompanying financial statements.
Any revision to accounting estimates is recognised prospectively in
current and future periods.
1.3 Fixed assets and depreciation
The Company values its Fixed Assets on written down value. Depreciation
is charged as per the rates prescribed by the Companies Act, 1956. The
company practices reducing balance method for charging depreciation on
Fixed Assets.
1.4 Intangible Assets
The Company does not own any Intangible Assets.
1.5 Going Concern
As at March 31, 2014 the Company has accumulated Profit of
approximately Rs. 413.40 Lacs (Previous year - Rs. 399.48 Lacs).
Accordingly, these financial statements have been prepared under the
going concern assumption.
1.6 Income
(i) Income from investment and derivatives trading in Shares is
recognised on Accrual Basis
(ii) Dividend income from investments is recognised when the Company''s
right to receive payment is established.
1.7 Employees Retirement benefits
The Company provides for retirment benefits in form of gratuty. Such
defined benefits are charged to the Profit & Loss Accounts, as
applicable, as incurred.
1.8 Foreign Currency Transactions
Company does not have any transaction involving foreign currency.
1.9 Investments
Long term investments are stated at cost. Cost includes brokerage and
other directly related payments made for acquiring investments.
Provision, where necessary, is made to recognise a diminution, other
than temporary, in the value of the investments. Current investments
are stated at lower of cost and fair value.
1.10 Inventories
Company does not possess any inventories.
1.11 Taxation
Income tax expense comprises current tax (i.e. amount of tax for the
period determined in accordance with the income tax law) and deferred
tax charge or credit (reflecting the tax effects of timing differences
between accounting income and taxable income for the period.) Provision
for current Income taxes is made at the tax rate applicable to the
relevant assessment year. The deferred tax charge or credit and the
corresponding deferred tax liabilities or assets are recognised using
the tax rates that have been enacted or substantively enacted at the
balance sheet date. Deferred tax assets are recognised only to the
extent that there is a reasonable certainty that the assets can be
realised in future; however, where there is unabsorbed depreciation or
carried forward loss under taxation laws, deferred tax assets are
recognised only if there is a virtual certainty of realisation of such
assets. Deferred tax assets are reviewed as at each balance sheet date
and written down or written up to reflect the amount that is reasonable
/ virtually certain (as the case may be) to be realised.
1.12 Earnings per share (''EPS'')
The basic earnings per share is computed by dividing the net profit
attributable to the equity shareholders for the period by the weighted
average number of equity shares outstanding during the Year ended March
31,2014.
1.13 Provisions and contingent liabilities
The Company creates a provision where there is present obligation as a
result of a past event that probably requires an outflow of resources
and a reliable estimate can be made of the amount of the obligation. A
disclosure for a contingent liability is made when there is a possible
or a present obligation that may, but probably will not require an
outflow of resources. When there is a possible obligation in respect of
which the likelihood of outflow of resources is remote, no provision or
disclosure is made
Mar 31, 2013
1.1 Basis of preparation of financial statements
The financial statements have been prepared and presented under the
historical cost convention on the accrual basis of accounting and
comply with the Accounting Standards issued by the Institute of
Chartered Accountants of India (TCAF) and the relevant provisions of
the Companies Act, 1956, to the extent applicable.
1.2 Use of estimates
The preparation of financial statements in conformity with generally
accepted accounting principles (''GAAP'') requires management to make
estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent liabilities as of the date
of financial statements, and the reported amount of revenue and
expenses during the reporting period. The estimates and assumptions
used in the accompanying financial statements are based upon
management''s evaluation of the relevant facts and circumstances as of
the date of the financial statements. Actual results may differ from
the estimates used in preparing the accompanying financial statements.
Any revision to accounting estimates is recognized prospectively in
current and future periods.
1.3 Fixed assets and depreciation
The Company values its Fixed Assets on written down value. Depreciation
is charged as per the rates prescribed by the Companies Act, 1956. The
company practices reducing balance method for charging depreciation on
Fixed Assets.
1.4 Intangible Assets
The Company does not own any Intangible Assets.
1.5 Going Concern
As at March 31, 2013 the Company has accumulated Profit of
approximately Rs. 399.48 Lacs (Previous year - Rs. 302.18 Lacs).
Accordingly, these financial statements have been prepared under the
going concern assumption.
1.6 Income
(i) Income from investment and derivatives trading in Shares is
recognised on Accrual Basis
(ii) Dividend income from investments is recognized when the Company''s
right to receive payment is established.
1.7 Employees Retirement benefits
The Company provides for retirement benefits in form of gratuity. Such
defined benefits are charged to the Profit & Loss Accounts, as
applicable, as incurred.
1.8 Foreign Currency Transactions
Company does not have any transaction involving foreign currency.
1.9 Investments
Long term investments are stated at cost. Cost includes brokerage and
other directly related payments made for acquiring investments.
Provision, where necessary, is made to recognize a diminution, other
than temporary, in the value of the investments. Current investments
are stated at lower of cost and fair value.
1.10 Inventories
Company does not possess any inventories.
1.11 Taxation
Income tax expense comprises current tax (i.e. amount of tax for the
period determined in accordance with the income tax law) and deferred
tax charge or credit (reflecting the tax effects of timing differences
between accounting income and taxable income for the period.) Provision
for current Income taxes is made at the tax rate applicable to the
relevant assessment year. The deferred tax charge or credit and the
corresponding deferred tax liabilities or assets are recognized using
the tax rates that have been enacted or substantively enacted at the
balance sheet date. Deferred tax assets are recognized only to the
extent that there is a reasonable certainty that the assets can be
realized in future; however, where there is unabsorbed depreciation or
carried forward loss under taxation laws, deferred tax assets are
recognized only if there is a virtual certainty of realization of such
assets. Deferred tax assets are reviewed as at each balance sheet date
and written down or written up to reflect the amount that is reasonable
/ virtually certain (as the case may be) to be realized.
1.12 Earnings per share (''EPS'')
The basic earnings per share is computed by dividing the net profit
attributable to the equity shareholders for the period by the weighted
average number of equity shares outstanding during the Year ended March
31,2013.
1.13 Provisions and contingent liabilities
The Company creates a provision where there is present obligation as a
result of a past event that probably requires an outflow of resources
and a reliable estimate can be made of the amount of the obligation. A
disclosure for a contingent liability is made when there is a possible
or a present obligation that may, but probably will not require an
outflow of resources. When there is a possible obligation in respect of
which the likelihood of outflow of resources is remote, no provision or
disclosure is made
Mar 31, 2012
1.1 Basis of preparation of financial statements
The financial statements have been prepared and presented under the
historical cost convention on the accrual basis of accounting and
comply with the Accounting Standards issued by the Institute of
Chartered Accountants of India ('ICAI') and the relevant provisions of
the Companies Act, 1956, to the extent applicable.
1.2 Use of estimates
The preparation of financial statements in conformity with generally
accepted accounting principles ('GAAP') requires management to make
estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent liabilities as of the date
of financial statements, and the reported amount of revenue and
expenses during the reporting period. The estimates and assumptions
used in the accompanying financial statements are based upon
management's evaluation of the relevant facts and circumstances as of
the date of the financial statements. Actual results may differ from
the estimates used in preparing the accompanying financial statements.
Any revision to accounting estimates is recognised prospectively in
current and future periods.
1.3 Fixed assets and depreciation
The Company values its Fixed Assets on written down value. Depreciation
is charged as per the rates prescribed by the Companies Act, 1956. The
company practices reducing balance method for charging depreciation on
Fixed Assets.
1.4 Intangible Assets
The Company does not own any Intangible Assets.
1.5 Going Concern
As at March 31, 2012 the Company has accumulated Profit of
approximately Rs. 302.18 Lacs (Previous year - Rs. 241.95 Lacs).
Accordingly, these financial statements have been prepared under the
going concern assumption.
1.6 Income
(i) Income from investment and derivatives trading in Shares is
recognised on Accrual Basis
(ii) Dividend income from investments is recognised when the Company's
right to receive payment is established.
1.7 Employees Retirement benefits
The Company provides for retirement benefits in form of gratuity. Such
defined benefits are charged to the Profit & Loss Accounts, as
applicable, as incurred.
1.8 Foreign Currency Transactions
Company does not have any transaction involving foreign currency.
1.9 Investments
Long term investments are stated at cost. Cost includes brokerage and
other directly related payments made for acquiring investments.
Provision, where necessary, is made to recognise a diminution, other
than temporary, in the value of the investments. Current investments
are stated at lower of cost and fair value.
1.10 Inventories
Company does not possess any inventories.
1.11 Taxation
Income tax expense comprises current tax (i.e. amount of tax for the
period determined in accordance with the income tax law) and deferred
tax charge or credit (reflecting the tax effects of timing differences
between accounting income and taxable income for the period.) Provision
for current Income taxes is made at the tax rate applicable to the
relevant assessment year. The deferred tax charge or credit and the
corresponding deferred tax liabilities or assets are recognised using
the tax rates that have been enacted or substantively enacted at the
balance sheet date. Deferred tax assets are recognised only to the
extent that there is a reasonable certainty that the assets can be
realised in future; however, where there is unabsorbed depreciation or
carried forward loss under taxation laws, deferred tax assets are
recognised only if there is a virtual certainty of realisation of such
assets. Deferred tax assets are reviewed as at each balance sheet date
and written down or written up to reflect the amount that is
reasonable/virtually certain (as the case may be) to be realised.
1.12 Earnings per share ('EPS')
The basic earnings per share is computed by dividing the net profit
attributable to the equity shareholders for the period by the weighted
average number of equity shares outstanding during the Year ended March
31, 2012.
1.13 Provisions and contingent liabilities
The Company creates a provision where there is present obligation as a
result of a past event that probably requires an outflow of resources
and a reliable estimate can be made of the amount of the obligation. A
disclosure for a contingent liability is made when there is a possible
or a present obligation that may, but probably will not require an
outflow of resources. When there is a possible obligation in respect of
which the likelihood of outflow of resources is remote, no provision or
disclosure is made
Mar 31, 2010
1.1 Basis of preparation of financial statements
The financial statements have been prepared and presented under the
historical cost convention on the accrual basis of accounting and
comply with the Accounting Standards issued by the Institute of
Chartered Accountants of India (ICAI) and the relevant provisions of
the Companies Act, 1956, to the extent applicable.
1.2 Use of estimates
The preparation of financial statements in conformity with generally
accepted accounting principles (GAAP) requires management to make
estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent liabilities as of the date
of financial statements, and the reported amount of revenue and
expenses during the reporting period. The estimates and assumptions
used in the accompanying financial statements are based upon
managements evaluation of the relevant facts and circumstances as of
the date of the financial statements. Actual results may differ from
the estimates used in preparing the accompanying financial statements.
Any revision to accounting estimates is recognised prospectively in
current and future periods.
1.3 Fixed assets and depreciation
The Company does not own any Fixed Assets.
1.4 Intangible Assets
The Company does not own any Intangible Assets.
1.5 Going Concern
As at March 31, 2010 the Company has accumulated Profit of
approximately Rs. 149.84 Lacs (Previous year-Rs. 120.32 Lacs).
Accordingly, these financial statements have been prepared under the
going concern assumption.
1.6 Income
(i) Income from investment and derivatives trading in Shares is
recognised on Accrual Basis
(ii) Dividend income from investments is recognised when the Companys
right to receive payment is established.
1.7 Employees Retirement benefits
The Company provides for retirment benefits in form of gratuty. Such
defined benefits are charged to the Profit & Loss Accounts, as
applicable, as incurred.
1.8 Foreign Currency Transactions
Company does not. have any transaction involving foreign currency.
1.9 Investments
Long term investments are stated at cost. Cost includes brokerage and
other directly related payments made for acquiring investments.
Provision, where necessary, is made to recognise a diminution, other
than temporary, in the value of the investments. Current investments
are stated at lower of cost and fair value.
1.10 Inventories
Company does not possess any inventories.
1.11 Taxation
Income tax expense comprises current tax (i.e. amount of tax for the
period determined in accordance with . the income tax law) and
deferred tax charge or credit (reflecting the tax effects of timing
differences between accounting income and taxable income for the
period.) Provision for current Income taxes is made at the tax rate
applicable to the relevant assessment year. The deferred tax charge or
credit and the corresponding deferred tax liabilities or assets are
recognised using the tax rates that have been enacted or substantively
enacted at the balance sheet date. Deferred tax assets are recognised
only to the extent that there is a reasonable certainty that the assets
can be realised in future; however, where there is unabsorbed
depreciation or carried forward loss under taxation laws, deferred tax
assets are recognised only if there is a virtual certainty of
realisation of such assets. Deferred tax assets are reviewed as at each
balance sheet date and written down or written up to reflect the amount
that is reasonable / virtually certain (as the case may be) to be
realised.
1.12 Earnings per share (EPS)
The basic earnings per share is computed by dividing the net profit
attributable to the equity shareholders for the period by the weighted
average number of equity shares outstanding during the Year ended March
31,2010.
1.13 Provisions and contingent liabilities
The Company creates a provision where there is present obligation as a
result of a past event that probably requires an outflow of resources
and a reliable estimate can be made of the amount of the obligation. A
disclosure for a contingent liability is made when there is a possible
or a present obligation that may, but probably will not require an
outflow of resources. When there is a possible obligation in respect of
which the likelihood of outflow of resources is remote, no provision or
disclosure is made
2.1 Additional information pursuant to the provision of paragraph 3 and
4 in Part II of Schedule VI of the Companies Act, 1956 (As certified by
the Directors and accepted by the Auditors without verification)
i) As the company is not a manufacturing company the provisions of
paragraph 4C are not applicable.
ii) Provisions of para 4D
Mar 31, 2002
METHOD OF ACCOUNTING:
a. The Company follows mercantile system of Accounting and recognises
income & expenditure on accrual basis except mentioned otherwise.
b. Financial Statements are based on historical cost. These Cost are
not adjusted to reflect inflation in the economy.
VALUATION OF INVESTMENT :
The Slock of shares is valued at cost of requisition.