Mar 31, 2015
(i) General
The financial statements are prepared as a Going-concern and Historical
cost convention, on accrual basis and in accordance with the Companies
Act 2013. Accounting policies not stated explicitly otherwise are
consistent with the accounting principles generally accepted in India.
(ii) Use of Estimates
The presentation of financial statements requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities on the date of the financial statements and the reported
amount of revenues and expenses during the reporting period. Difference
between the actual results and the estimates are recognized in the
period in which the results are known / materialised.
(iii) Income Recognition
Revenues are accounted on accrual, except to the extent stated
otherwise.
Non-refundable deposits received under a time-share scheme are
recognized as revenue over the tenure of the scheme.
(iv) Borrowing costs
Borrowing cost that are attributable to the acquisition or construction
of qualifying assets are capitalised as part of the cost of such assets
up to the date when such assets are ready for intended use. Other
borrowing costs are charged as expense in the year in which they are
incurred.
(v) Fixed Assets
Fixed Assets, other than Land and Building, are carried at cost less
depreciation. Buildings and Land, which have been revalued, are carried
at replacement cost value, net of depreciation, and fair market value
respectively.
Direct costs are capitalized up to the date when fixed assets are ready
for use. Capital-work-in progress comprises outstanding advances paid
to acquire fixed assets, and the cost of fixed assets that are not
ready for their intended use at the balance sheet date.
(vi) Depreciation
Depreciation is provided on the Straight Line method in the manner
prescribed in Schedule ll to the Companies Act, 2013.
Depreciation on additions/deletion is provided on pro-rata basis with
reference to the date of addition/deletion as the case may be.
Depreciation on additions to building on revaluation is being provided
over the remaining useful life as indicated by the valuer. Such
depreciation is adjusted against Revaluation Reserve.
(vii) Subsidies
Central Investment Subsidy granted by the Government is credited to
"Capital Reserve".
(viii) Inventories
Food & Beverages, Operating supplies and Stores are valued at lower of
cost (weighted average basis) or net realizable value.
(ix) Retirement Benefits
The Company contributes towards Provident Fund and Super annuation Fund
which are defined contribution schemes. Liability in respect thereof is
determined on the basis of contribution required under the
statutes/rules. Gratuity liability is accrued and provided for on the
basis of actuarial valuations made at the year end. Provision for leave
encashment which is an actual liability, is provided for.
(x) Investments
Investments that are readily realizable and intended to be held for not
more than a year are classified as current investments. All other
investments are classified as long-term investments. Current
investments are carried at lower of cost and fair value. Long-term
investments are carried at cost. However, provision for diminution in
value is made to recognize a decline other than temporary in the value
of the long-term investments.
(xi) Foreign Currency Transactions
Foreign currency transactions are recorded at the exchange rate
prevailing on the date of the transaction. Gains/ losses arising on
banking of foreign currency are recognized in the Profit and Loss
Account on realization / incurrence.
(xii) Taxes on Income
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of Income Tax Act, 1961.
Deferred tax provision is made considering 'timing differences' between
book and taxable profit using the tax rates and laws that have been
enacted or substantively enacted as on the balance sheet date. The
deferred tax asset is recognized and carried forward only to the extent
that there is reasonable/virtual certainty that asset will be realized
in future.
(xiii) Impairment of Assets
Impairment is ascertained at each balance sheet date in respect of the
Company's fixed assets. An impairment loss is recognized whenever the
carrying amount of an asset exceeds its recoverable amount. The
recoverable amount is the greater of the net selling price and value in
use. In assessing value in use, the estimate future cash flows are
discounted to their present value based on an appropriate discount
factor.
(xiv) Accounting for Provisions, Contingent Liabilities and Contingent
Assets
A provision is recognized when the Company has a legal and constructive
obligation as a result of a past event, for which it is probable that
cash outflow will be required and a reliable estimate can be made of
the amount of the obligation. A contingent liability is disclosed when
the Company has a possible or present obligation where it is not
probable that an outflow of resources will be required to settle it.
Contingent assets are neither recognized nor disclosed in the financial
statements.
Mar 31, 2014
I) General
The financial statements are prepared as a Going-concern and Historical
cost convention, on an accrual basis and in accordance with the
Companies Act 1956. Accounting policies not stated explicitly otherwise
are consistent with the accounting principles generally accepted in
India.
(ii) Use of Estimates
The presentation of financial statements requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities on the date of the financial statements and the reported
amount of revenues and expenses during the reporting period. Difference
between the actual results and the estimates are recognized in the
period in which the results are known / materialised.
(iii) Income Recognition
Revenues are accounted on accrual, except to the extent stated
otherwise.
Non-refundable deposits received under a time-share scheme are
recognized as revenue over the tenure of the scheme.
(iv) Borrowing costs
Borrowing cost that are attributable to the acquisition or construction
of qualifying assets are capitalised as part of the cost of such assets
up to the date when such assets are ready for intended use. Other
borrowing costs are charged as expense in the year in which they are
incurred.
(v) Fixed Assets
Fixed Assets, other than Land and Building, are carried at cost less
depreciation. Buildings and Land, which have been revalued, are carried
at replacement cost value, net of depreciation, and fair market value
respectively.
Direct costs are capitalized until fixed assets are ready for use.
Capital-work-in progress comprises outstanding advances paid to acquire
fixed assets, and the cost of fixed assets that are not ready for their
intended use at the balance sheet date.
(vi) Depreciation
Fixed Assets, other than Room Airconditioning, Machinery and Electrical
Installations acquired upto December 16, 1993 are depreciated on a
Straight Line Basis at the rates then prescribed under Schedule XIV to
the Companies Act, 1956, whereas those acquired thereafter are
depreciated at the revised rates prescribed in the said Schedule XIV.
Room Airconditioning, Machinery and Electrical Installations are
depreciated on the Straight Line method over the shorter commercial
life of 9 years, estimated by the management, in view of continued use
of these assets.
Depreciation on additions to building on revaluation is being provided
over the remaining useful life as indicated by the valuer. Such
depreciation is adjusted against Revaluation Reserve.
(vii) Subsidies
Central Investment Subsidy granted by the Government is credited to
"Capital Reserve".
(viii) Inventories
Food & Beverages, Operating supplies and Stores are valued at lower of
cost (weighted average basis) or net realizable value.
(ix) Retirement Benefits
The Company contributes towards Provident Fund and Super annuation Fund
which are defined contribution schemes. Liability in respect thereof is
determined on the basis of contribution required under the
statutes/rules. Gratuity liability is accrued and provided for on the
basis of actuarial valuations made at the year end. Provision for leave
encashment which is an actual liability,is provided for.
(x) Investments
Investments that are readily realizable and intended to be held for not
more than a year are classified as current investments. All other
investments are classified as long-term investments. Current
investments are carried at lower of cost and fair value. Long-term
investments are carried at cost. However, provision for diminution in
value is made to recognize a decline other than temporary in the value
of the long-term investments.
(xi) Foreign Currency Transactions
Foreign currency transactions are recorded at the exchange rate
prevailing on the date of the transaction. Gains/losses arising on
banking of foreign currency are recognized in the Profit and Loss
Account on realization / incurrence.
(xii) Taxes on Income
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of Income Tax Act, 1961.
Deferred tax provision is made considering ''timing differences'' between
book and taxable profit using the tax rates and laws that have been
enacted or substantively enacted as on the balance sheet date. The
deferred tax asset is recognized and carried forward only to the extent
that there is reasonable/virtual certainty that asset will be realized
in future.
(xiii) Impairment of Assets
Impairment is ascertained at each balance sheet date in respect of the
Company''s fixed assets. An impairment loss is recognized whenever the
carrying amount of an asset exceeds its recoverable amount. The
recoverable amount is the greater of the net selling price and value in
use. In assessing value in use, the estimate future cash flows are
discounted to their present value based on an appropriate discount
factor.
(xiv) Accounting for Provisions, Contingent Liabilities and Contingent
Assets A provision is recognized when the Company has a legal and
constructive obligation as a result of a past event, for which it is
probable that cash outflow will be required and a reliable estimate can
be made of the amount of the obligation. A contingent liability is
disclosed when the Company has a possible or present obligation where
it is not probable that an outflow of resources will be required to
settle it. Contingent assets are neither recognized nor disclosed in
the financial statements.
Mar 31, 2013
(i) General
The financial statements are prepared as a Going-concern and Historical
cost convention, on an accrual basis and in accordance with the
Companies Act 1956. Accounting policies not stated explicitly otherwise
are consistent with the accounting principles generally accepted in
India.
(ii) Use of Estimates
The presentation of financial statements requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities on the date of the financial statements and the reported
amount of revenues and expenses during the reporting period. Difference
between the actual results and the estimates are recognized in the
period in which the results are known / materialised.
(iii) Income Recognition
Revenues are accounted on accrual, except to the extent stated
otherwise.
Non-refundable deposits received under a time-share scheme are
recognized as revenue over the tenure of the scheme.
(iv) Borrowing costs
Borrowing cost that are attributable to the acquisition or construction
of qualifying assets are capitalised as part of the cost of such assets
up to the date when such assets are ready for intended use. Other
borrowing costs are charged as expense in the year in which they are
incurred.
(v) Fixed Assets
Fixed Assets, other than Land and Building, are carried at cost less
depreciation. Buildings and Land, which have been revalued, are carried
at replacement cost value, net of depreciation, and fair market value
respectively.
Direct costs are capitalized until fixed assets are ready for use.
Capital-work-in progress comprises , outstanding advances paid to
acquire fixed assets, and the cost of fixed assets that are not ready
for their intended use at the balance sheet date.
(vi) Depreciation
Fixed_ Assets, other than Room Airconditioning, Machinery and
Electrical Installations acquired upto December 16, 1993 are
depreciated on a Straight Line Basis at the rates then prescribed under
Schedule XIV to the Companies Act, 1956, whereas those acquired
thereafter are depreciated at the revised rates prescribed in the said
Schedule XIV. Room Airconditioning, Machinery and Electrical
Installations are depreciated on the Straight Line method over the
shorter commercial life of 9 years, estimated by the management, in
view of continued use of these assets.
Depreciation on additions to building on revaluation is being provided
over the remaining useful life as indicated by the valuer. Such
depreciation is adjusted against Revaluation Reserve.
(vii) Subsidies
Central Investment Subsidy granted by the Government is credited to
"Capital Reserve".
(viii) Inventories
Food & Beverages, Operating supplies and Stores are valued at lower of
cost (weighted average basis) or net realizable value.
(ix) Retirement Benefits
The Company contributes towards Provident Fund and Super annuation Fund
which are defined contribution schemes. Liability in respect thereof is
determined on the basis of contribution required under the
statutes/rules. Gratuity liability is accrued and provided for on the
basis of actuarial valuations made at the year end. Provision for leave
encashment which is an actual liability,is provided for.
(x) Investments
Investments that are readily realizable and intended to be held for not
more than a year are classified as current investments. All other
investments are classified as long-term investments. Current
investments are carried at lower of cost and fair value. Long-term
investments are carried at cost. However, provision for diminution in
value is made to recognize a decline other than temporary in the value
of the long-term investments.
(xi) Foreign Currency Transactions
Foreign currency transactions are recorded at the exchange rate
prevailing on the date of the transaction. Gains/losses arising on
banking of foreign currency are recognized in the Profit and Loss
Account on realization / incurrence.
(xii) Taxes on Income
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of Income Tax Act, 1961.
Deferred tax provision is made considering ''timing differences''
between book and taxable profit using the tax rates and laws that have
been enacted or substantively enacted as on the balance sheet date. The
deferred tax asset is recognized and carried forward only to the extent
that there is reasonable/virtual certainty that asset will be realized
in future.
(xiii) Impairment of Assets
Impairment is ascertained at each balance sheet date in respect of the
Company''s fixed assets. An impairment loss is recognized whenever the
carrying amount of an asset exceeds its recoverable amount. The
recoverable amount is the greater of the net selling price and value in
use. In assessing value in use, the estimate future cash flows are
discounted to their present value based on an appropriate discount
factor.
(xiv) Accounting for Provisions, Contingent Liabilities and Contingent
Assets
A provision is recognized when the Company has a legal and constructive
obligation as a result of a past event, for which it is probable that
cash outflow will be required and a reliable estimate can be made of
the amount of the obligation. A contingent liability is disclosed when
the Company has a possible or present obligation where it is not
probable that an outflow of resources will be required to settle it.
Contingent assets are neither recognized nor disclosed in the financial
statements.
Mar 31, 2012
(i) General
The financial statements are prepared as a Going-concern and Historical
cost convention, on an accrual basis and in accordance with the
Companies Act 1956. Accounting policies not stated explicitly otherwise
are consistent with the accounting principles generally accepted in
India.
(ii) Use of Estimates
The presentation of financial statements requires estimates and
assumptions to be made that affect the reported amount of assefe and
liabilities on the date of the financial statements and the reported
amount of revenues and expenses during the reporting period. Difference
between the actual results and the estimates are recognized in the
period in which the results are known / materialised.
(iii) Income Recognition
Revenues are accounted on accrual, except to the extent stated
otherwise.
Non-refundable deposits received under a time-share scheme are
recognized as revenue over the tenure of the scheme.
(iv) Borrowing costs
Borrowing cost that are attributable to the acquisition or construction
of qualifying assets are capitalised as part of the cost of such assets
up to the date when such assets are ready for intended use. Other
borrowing costs are charged as expense in the year in which they are
incurred.
(v) Fixed Assets
Fixed Assets, other than Land and Building, are carried at cost less
depreciation. Buildings and Land, which have been revalued, are carried
at replacement cost value, net of depreciation, and fair market value
respectively.
Direct costs are capitalized until fixed assets are ready for use.
Capital-work-in progress comprises outstanding advances paid to acquire
fixed assets, and the cost of fixed assets that are not ready for their
intended use at the balance sheet date.
(vi) Depreciation
Fixed Assets, other than Room Airconditioning, Machinery and Electrical
Installations acquired upto December 16, 1993 are depreciated on a
Straight Line Basis at the rates then prescribed under Schedule XIV to
the Companies Act, 1956, whereas those acquired thereafter are
depreciated at the revised rates prescribed in the said Schedule XIV.
Room Airconditioning, Machinery and Electrical Installations are
depreciated on the Straight Line method over the shorter commercial
life of 9 years, estimated by the management, in view of continued use
of these assets.
Depreciation on additions to building on revaluation is being provided
over the remaining useful life as indicated by the valuer. Such
depreciation is adjusted against Revaluation Reserve.
(vii) Subsidies
Central Investment Subsidy granted by the Government is credited to
"Capital Reserve".
(viii) Inventories
Food & Beverages, Operating supplies and Stores are valued at lower of
cost (weighted average basis) or net realizable value.
(ix) Retirement Benefits
The Company contributes towards Provident Fund and Super annuation Fund
which are defined contribution schemes. Liability in respect thereof is
determined on the basis of contribution required under the
statutes/rules. Gratuity liability is accrued and provided for on the
basis of actuarial valuations made at the year end. Provision for leave
encashment which is an actual liability, is provided for.
(x) Investments
Investments that are readily realizable and intended to be held for not
more than a year are classified as current investments. All other
investments are classified as long-term investments. Current
investments are carried at lower of cost and fair value. Long-term
investments are carried at cost. However, provision for diminution in
value is made to recognize a decline other than temporary in the value
of the long-term investments.
(xi) Foreign Currency Transactions
Foreign currency transactions are recorded at the exchange rate
prevailing on the date of the transaction. Gains/losses arising on
banking of foreign currency are recognized in the Profit and Loss
Account on realization / incurrence.
(xii) Taxes on Income
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of Income Tax Act, 1961.
Deferred tax provision is made considering 'timing differences'
between book and taxable profit using the tax rates and laws that have
been enacted or substantively enacted as on the balance sheet date. The
deferred tax asset is recognized and carried forward only to the extent
that there is reasonable/virtual certainty that asset will be realized
in future.
(xiii) Impairment of Assets
Impairment is ascertained at each balance sheet date in respect of the
Company's fixed assets. An impairment loss is recognized whenever the
carrying amount of an asset exceeds its recoverable amount. The
recoverable amount is the greater of the net selling price and value in
use. In assessing value in use, the estimate future cash flows are
discounted to their present value based on an appropriate discount
factor.
(xiv) Accounting for Provisions, Contingent Liabilities and Contingent
Assets
A provision is recognized when the Company has a legal and constructive
obligation as a result of a past event, for which it is probable that
cash outflow will be required and a reliable estimate can be made of
the amount of the obligation. A contingent liability is disclosed when
the Company has a possible or present obligation where it is not
probable that an outflow of resources will be required to settle it.
Contingent assets are neither recognized nor disclosed in the financial
statements.
Mar 31, 2010
(i) General
The financial statements are prepared as a Going-concern and Historical
cost convention, on an accrual basis and in accordance with the
Companies Act 1956. Accounting polices not stated explicitly otherwise
are consistent with the accounting principles generally accepted in
India.
(ii) Use of Estimates
The presentation of financial statements requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities on the date of the financial statements and the reported
amount of revenues and expenses during the reporting period. Difference
between the actual results and the estimates are recognized in the
period in which the results are known/ materialised.
(iii) Income Recognition
Revenues are accounted on accrual, except to the extent stated
otherwise.
Non-refundable deposits received under a time-share scheme are
recognised as revenue over the tenure of the scheme.
(iv) Borrowing costs
Borrowing cost that are attributable to the acquisition or construction
of qualifying assets are capitalised as part of the cost of such assets
up to the date when such assets are ready for intended use. Other
borrowing costs are charged as expense in the year in which they are
incurred.
(v) Fixed Assets
Fixed Assets, other than Land and Building, are carried at cost less
depreciation. Buildings and Land, which have been revalued, are carried
at replacement cost value, net of depreciation, and fair market value
respectively.
Direct costs are capitalised until fixed assets are ready for use.
Capital-work-in progress comprises outstanding advances paid to acquire
fixed assets, and the cost of fixed assets that are not ready for their
intended use at the balance sheet date.
(vi) Depreciation
Fixed Assets, other than Room Airconditioning, Machinery and Electrical
Installations acquired upto December 16, 1993 are depreciated on a
Straight Line Basis at the rates then prescribed under Schedule XIV to
the Companies Act, 1956, whereas those acquired thereafter are
depreciated at the revised rates prescribed in the said Schedule XIV.
Room Airconditioning, Machinery and Electrical Installations are
depreciated on the Straight Line method over the shorter commercial
life of 9 years, estimated by the management, in view of continued use
of these assets.
Depreciation on additions to building on revaluation is being provided
over the remaining useful life as indicated by the valuer. Such
depreciation is adjusted against Revaluation Reserve.
(vii) Subsidies
Central Investment Subsidy granted by the Government is credited to
"Capital Reserve."
(viii) Inventories
Food & Beverages, Operating supplies and Stores are valued at lower of
cost (weighted average basis) or net realizable value.
(ix) Retirement Benefits
The Company contributes towards Provident Fund and Super annuation Fund
which are defined contribution schemes. Liability in respect thereof is
determined on the basis of contribution required under the
statutes/rules. Gratuity liability is accrued and provided for on the
basis of actuarial valuations made at the year end. Provision for leave
encashment which is an actual liability, is provided for.
(x) Investments
Investments that are readily realizable and intended to be held for not
more than a year are classified as current investments. All other
investments are classified as long-term investments. Current
investments are carried at lower of cost and fair value. Long-term
investments are carried at cost. However, provision for diminution in
value is made to recognize a decline other than temporary in the value
of the long-term investments.
(xi) Foreign Currency Transactions
Foreign currency transactions are recorded at the exchange rate
prevailing on the date of the transaction. Gains/losses arising on
banking of foreign currency are recognized in the Profit and Loss
Account on realization / incurrence.
(xii) Taxes on income
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of Income Tax Act,
1961.Deferred tax provision is made considering timing differences
between book and taxable profit using the tax rates and laws that have
been enacted or substantively enacted as on the balance sheet date. The
deferred tax asset is recognized and carried forward only to the extent
that there is reasonable/virtual certainty that asset will be realised
in future.
(xiii) Impairment of Assets
Impairment is ascertained at each balance sheet date in respect of the
Companys fixed assets. An impairment loss is recognised whenever the
carrying amount of an asset exceeds its recoverable amount. The
recoverable amount is the greater of the net selling price and value in
use. In assessing value in use, the estimated future cash flows are
discounted to their present value based on an appropriate discount
factor.
(xiv) Accounting for Provisions, Contingent Liabilities and Contingent
Assets
A provision is recognized when the Company has a legal and constructive
obligation as a result of a past event, for which it is probable that
cash outflow will be required and a reliable estimate can be made of
the amount of the obligation. A contingent liability is disclosed when
the Company has a possible or present obligation where it is not
probable that an outflow of resources will be required to settle it.
Contingent assets are neither recognized nor disclosed in the financial
statements.