Mar 31, 2015
(a) Basis of Accounting
The accompanying Financial Statements have been prepared to comply in
all material aspects with the mandatory Accounting Standards ('AS')
issued by the Institute of Chartered Accountants of India ('ICAI'). The
company has consistently applied the Accounting policies and is
consistent with those used in the previous year. The Company generally
follows mercantile system of Accounting recognizing both Income &
Expenditure on accrual basis.
(b) Accounting Assumptions
The accounts are prepared on historical cost convention and as a going
concern, accounting policies, not specifically referred to otherwise,
are consistent with generally accepted accounting principles, unless
otherwise stated.
(c) Use of estimates
The preparation of financial statements requires management to make
estimates and assumptions that affect the reported statements of assets
and liabilities, the disclosure of contingent liabilities on the date
of the financial statements and the reported amounts of revenues and
expenses during the period reported. Actual results could differ from
these estimates and assumptions. Any revision to accounting estimates
is recognized prospectively in the current and future periods.
(d) Fixed Assets:
Fixed Assets are stated at cost less accumulated depreciation. Costs
includes cost of acquisition and subsequent improvements thereto
including borrowing costs, all relevant levies and other incidental
expenses incurred to bring the assets to its present location and
condition.
(e) Event occurring after Balance Sheet Date
No material events have occurred after the balance sheet date.
(f) Impairment of Assets:
Management periodically assesses using, external and internal sources,
whether there is an indication that an asset may be impaired.
Impairment occurs where the carrying value exceeds the present value of
future cash flows expected to arise from the continuing use of the
asset and its eventual disposal. The impairment loss to be expensed is
determined as the excess of the carrying amount over the higher of the
asset's net sales price or present value as determined above. During
the year under consideration, there was no indication, either internal
or external as to the impairment of any of the assets.
(g) Contingent Liabilities
Based on the information available, no contingent liabilities have been
ascertained at the end of the year. Therefore, no provision for any
contingent liability has been provided.
(h) The Company is a Small and Medium Sized Company (SMC) as defined in
the General Instructions in respect of Accounting Standards notified
under the Companies Act, 1956. Accordingly, the Company has complied
with the Accounting Standards as applicable to a Small and Medium Sized
Company.
(i) There was no employee of the company drawing the remuneration of
Rs. 6000000/- or more P.A., if employed for whole of the year, or Rs.
500000/- or more P.M., if employed for part of the year.
(I) In opinion of the Board of Directors, the aggregate value of
current assets, loans & advances on realization in ordinary course of
business shall not be less than the amount at which these are stated in
the Balance Sheet.
(m) Cash flow are reported using the indirect method as specified in AS
- 3 issued by the Institute of Chartered Accountants of India, thereby
profit after tax is adjusted for the effects of transactions of a non-
cash nature and any deferrals or accruals of past or future cash
receipts or payments. The cash flows from operating, financing and
investing activities of the company are segregated.
Mar 31, 2014
(a) Basis of Accounting
The accompanying Financial Statements have been prepared to comply in
all material aspects with the mandatory Accounting Standards (''AS'')
issued by the Institute of Chartered Accountants of India (''ICAI''). The
company has consistently applied the Accounting policies and is
consistent with those used in the previous year. The Company generally
follows mercantile system of Accounting recognizing both Income &
Expenditure on accrual basis.
(b) Accounting Assumptions
The accounts are prepared on historical cost convention and as a going
concern, accounting policies, not specifically referred to otherwise,
are consistent with generally accepted accounting principles, unless
otherwise stated.
(c) Use of estimates
The preparation of financial statements requires management to make
estimates and assumptions that affect the reported statements of assets
and liabilities, the disclosure of contingent liabilities on the date
of the financial statements and the reported amounts of revenues and
expenses during the period reported. Actual results could differ from
these estimates and assumptions. Any revision to accounting estimates
is recognised prospectively in the current and future periods.
(d) Fixed Assets:
Fixed Assets are stated at cost less accumulated depreciation. Costs
includes cost of acquisition and subsequent improvements thereto
including borrowing costs, all relevant levies and other incidental
expenses incurred to bring the assets to its present location and
condition.
(e) Event occurring after Balance Sheet Date
No material events have occurred after the balance sheet date.
(f) Impairment of Assets:
Management periodically assesses using, external and internal sources,
whether there is an indication that an asset may be impaired.
Impairment occurs where the carrying value exceeds the present value of
future cash flows expected to arise from the continuing use of the
asset and its eventual disposal. The impairment loss to be expensed is
determined as the excess of the carrying amount over the higher of the
asset''s net sales price or present value as determined above. During
the year under consideration, there was no indication, either internal
or external as to the impairment of any of the assets.
(g) Contingent Liabilities
Based on the information available, no contingent liabilities have been
ascertained at the end of the year. Therefore, no provision for any
contingent liability has been provided.
(h) The Company is a Small and Medium Sized Company (SMC) as defined in
the General Instructions in respect of Accounting Standards notified
under the Companies Act, 1956. Accordingly, the Company has complied
with the Accounting Standards as applicable to a Small and Medium Sized
Company.
(i) There was no employee of the company drawing the remuneration of
Rs. 6000000/- or more P.A., if employed for whole of the year, or Rs.
500000/- or more P.M., if employed for part of the year.
(j) Foreign Exchange Earning : Nil
Foreign Exchange Outgo : Nil
(k) CIF Value of Import : Nil
(l) In opinion of the Board of Directors, the aggregate value of
current assets, loans & advances on realization in ordinary course of
business shall not be less than the amount at which these are stated in
the Balance Sheet.
(m) Cash flow are reported using the indirect method as specified in AS
- 3 issued by the Institute of Chartered Accountants of India, thereby
profit after tax is adjusted for the effects of transactions of a non-
cash nature and any deferrals or accruals of past or future cash
receipts or payments. The cash flows from operating, financing and
investing activities of the company are segregated.
Mar 31, 2013
(a) Basis of Accounting
The accompanying Financial Statements have been prepared to comply in
all material aspects with the mandatory Accounting Standards (''AS'')
issued by the Institute of Chartered Accountants of India (''ICAI''). The
company has consistently applied the Accounting policies and is
consistent with those used in the previous year. The Company generally
follows mercantile system of Accounting recognizing both Income &
Expenditure on accrual basis.
(b) Accounting Assumptions
The accounts are prepared on historical cost convention and as a going
concern, accounting policies, not specifically referred to otherwise,
are consistent with generally accepted accounting principles, unless
otherwise stated.
(c) Use of estimates
The preparation of financial statements requires management to make
estimates and assumptions that affect the reported statements of assets
arid liabilities, the disclosure of contingent liabilities on the date
of the financial statements and the reported amounts of revenues and
expenses during the period reported. Actual results could differ from
these estimates and assumptions. Any revision to accounting estimates
is recognised prospectively in the current and future periods.
(d) Fixed Assets:
Fixed Assets are stated at cost less accumulated depreciation. Costs
includes cost of acquisition and subsequent improvements thereto
including borrowing costs, all relevant levies and other incidental
expenses incurred to bring the assets to its present location and
condition.
(e) Event occurring after Balance Sheet Date
No material events have occurred after the balance sheet date.
(f) Impairment of Assets:
Management periodically assesses using, external and internal sources,
whether there is an indication that an asset may be impaired.
Impairment occurs where the carrying value exceeds the present value of
future cash flows expected to arise from the continuing use of the
asset and its eventual disposal. The impairment loss to be expensed is
determined as the excess of the carrying amount over the higher of the
asset''s net sales price or present value as determined above. During
the year under consideration, there was no indication, either internal
or external as to the impairment of any of the assets.
(g) Contingent Liabilities
Based on the information available, no contingent liabilities have been
ascertained at the end of the year. Therefore, no provision for any
contingent liability has been provided.
(h) The Company is a Small and Medium Sized Company (SMC) as defined in
the General Instructions in respect of Accounting Standards notified
under the Companies Act, 1956. Accordingly, the Company has complied
with the Accounting Standards as applicable to a Small and Medium Sized
Company.
(i) There was no employee of the company drawing the remuneration of
Rs. 6000000/- or more P.A., if employed for whole of the year, or Rs.
500000/- or more P.M., if employed for part of the year.
(j) Foreign Exchange Earning : Nil
Foreign Exchange Outgo : Nil
(k) CIF Value of Import : Nil
Mar 31, 2012
(a) Basis of Accounting
The accompanying Financial Statements have been prepared to comply in
all material aspects with the mandatory Accounting Standards (''AS'')
issued by the Institute of Chartered Accountants of India (''ICAI'').
The company has consistently applied the Accounting policies and is
consistent with those used in the previous year. The Company generally
follows mercantile system of Accounting recognizing both Income &
Expenditure on accrual basis.
(b) Accounting Assumptions
The accounts are prepared on historical cost convention and as a going
concern, accounting policies, not specifically referred to otherwise,
are consistent with generally accepted accounting principles, unless
otherwise stated.
(c) Presentation and disclosure of financial statements
During the year end 31 March 2012, the revised Schedule VI notified
under the Companies Act 1956, has become applicable to the company, for
preparation and presentation of its financial statements. The adoption
of revised Schedule VI does not impact recognition and measurement
principles followed for preparation of financial statements. However,
it has significant impact on presentation and disclosure made in the
financial statements. The company has also reclassified the previous
year figures in accordance with requirements applicable in the current
year.
(d) Use of estimates
The preparation of financial statements requires management to make
estimates and assumptions that affect the reported statements of assets
and liabilities, the disclosure of contingent liabilities on the date
of the financial statements and the reported amounts ''of revenues and
expenses during the period reported. Actual results could differ from
these estimates and assumptions. Any revision to accounting estimates
is recognised prospectively in the current and future periods.
(e) Fixed Assets:
Fixed Assets are stated at cost less accumulated depreciation. Costs
includes cost of acquisition and subsequent improvements thereto
including borrowing costs, all relevant levies and other incidental
expenses incurred to bring the assets to its present location and
condition.
(e) Event occurring after Balance Sheet Dote
No material events ''nave occurred after the balance sheet date.
(f) Impairment of Assets:
Management periodically assesses using, external and internal sources,
whether there is an indication that an asset may be impaired.
Impairment occurs where the carrying value exceeds the present value of
future cash flows expected to arise from the continuing use of the
asset and its eventual disposal. The impairment loss to be expensed is
determined as the excess of the carrying amount over the higher of the
asset''s net sales price or present value as determined above. During
the year under consideration, there was no indication, either ''
internal or external as to the impairment of any of the assets.
(f) Contingent Liabilities
Based on the information available, no contingent liabilities have been
ascertained at the end of the year. Therefore, no provision for any
contingent liability has been provided.
(h) The Company is a Small and Medium Sized Company (SMC) as defined in
the General Instructions in respect of Accounting Standards notified
under the Companies Act, 1956. Accordingly, the Company has complied
with the Accounting Standards as applicable to a Small and Medium Sized
Company,
(i) There was no employee of the company drawing the remuneration of
Rs. 6000000/- or more P.A., if employed for whole of the year, or Rs.
500000/- or more P.M., if employed for part of the year.
(j) Foreign Exchange Earning : Nil
Foreign Exchange Outgo : Nil
(k) CIF Value of Import : Nil
(I) In opinion of the Board of Directors, the aggregate value of
current assets, loans & advances on realization in ordinary course of
business shall not be less than the amount at which these are stated in
the Balance Sheet.