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Accounting Policies of Multiplus Holdings Ltd. Company

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.

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