Mar 31, 2015
1.1 Accounting Concepts
The Company follows the mercantile system of accounting and recognized
Income and Expenditure on accrual basis. The accounts are prepared on
historical cost convention and as a going concern. Accounting policies
not referred to otherwise are consistent with generally accepted
Accounting Principles.
1.2 Fixed Assets
Fixed Assets are stated at cost (Including other expenses related to
acquisition and installation).Less accumulated Depreciation
1.3 Depredation
Depreciation has been provided under W D V method at useful lives
specified in the Schedule II of the Companies Act, 2013.
1.4 Revenue Recognition
Revenue from Sales represented invoice value of goods sold excluding of
sales tax, insurance, packing & forwarding charges etc. Sales of goods
is recognized on transfer of property of goods as per agreed terms
1.5 Retirement Benefits
These are accounted for as and when paid.
1.6 Investments
investments are valued at cost.
1.7 Earnings per Share
The earnings considered in ascertaining the company's EPS comprise the
net profit or (loss) for the period after tax and extra ordinary items.
The Basis EPS is computed on the basis of weighted average number of
equity shares outstanding during the year. The Number of Share for
computation of diluted EPS comprise of weighted average number of
equity shares considered for deriving basic EPS.
1.8 Taxes on Income
Tax expenses for the year comprises of current tax and deferred tax.
Current taxes are measured at the current rate of tax in accordance
with provision of the Income Tax Act, 1961. Deferred Tax Assets &
Liabilities are recognized for future tax consequences attributable to
the timing differences that results between taxable profit & the profit
as per the financial statement. Deferred tax Assets & liabilities are
measured using the tax rate and tax laws that have been enacted or
substantively enacted at the Balance Sheet date. Deferred tax assets
are recognized on unabsorbed depreciation & carry forward losses under
tax law to the extent there is virtual certainty that sufficient future
taxable income will be available against which such deferred tax assets
can be realized The effect of deferred tax assets & liabilities of a
change in tax rate is recognized in the Profit & Loss account in the
year of Change.
1.9 Contingent Liabilities
Contingent liabilities are determined on the basis of available
information and are disclosed by way of Notes to Accounts.
1.10 All Balances of sundry Debtors, Creditors, Loan & Advances are
subject to confirmations.
1.11 Auditors Remuneration consists of:
Current Year Previous Year
Rs. Rs.
Audit Fees 20,000/- 20,000/-
Tax Audit Fees 10,000/- 10,000/-
Total 30,000/- 30,000/-
1.12 Provision has been made for Income tax as per the provisions of
Income Tax Act 1961.
1.13 In order to comply with the requirement of the Micro, Small and
Medium Enterprises Development Act 2006, the company has not received
any memorandum (as required by to be filed by the suppliers with the
notified authority under Micro, Small and Medium Enterprises
Development Act 2006) claiming their status as micro or medium
enterprises the information as required to be given above is considered
to be NIL.
1.14 In accordance with the Accounting Standard on "Related Party
Disclosure"(AS-18),the disclosure in respect of transactions with the
company's related parties are: NA
1.15 In the opinion of. the Board of Directors all the current assets,
Loans & Advances are approximately of the value stated in the balance
sheet as at 31st March, 2015 if realized in the ordinary course of
business. The provision for depreciation and all known liabilities has
been made and is adequate and not in excess of amount reasonably
required.
1.16 In view of Accounting Standard -22 " Accounting for Taxes on
Income", deferred tax Assets has been considering lack of virtual
certainty of its realization of losses.
I) Value of Imports : Rs. Nil (NIL)
II) Expenditure in foreign Currency : Rs. Nil (NIL)
III) Earnings in foreign Exchange : Rs. Nil (NIL)
IV) Amount remitted during the year in foreign : RS. Nil (NIL)
Currencies on account of dividend
1.17. Previous year figures have been regrouped and rearranged,
wherever necessary.
Mar 31, 2014
1.1 Accounting Concepts :
The Company follows the mercantile system of accounting and recognized
Income and Expenditure on accrual basis. The accounts are prepared on
historical cost convention and as a going concern. Accounting policies
not referred to otherwise are consistent with generally accepted
Accounting Principles.
2.2 Fixed Assets
Fixed Assets are stated at cost (Including other expenses related to
acquisition and installation).Less accumulated Depreciation
2.3 Depreciation
i. Depreciation has been provided under W D V method at the rates
prescribed in Schedule XIV of the Companies Act, 1956 (as amended).
ii. Depreciation of fixed assets is provided on Pro-rata basis from
the date of their purchase / acquisition / capitalization till the date
of disposal.
2.4 Revenue Recognition
Revenue from Sales represented invoice value of goods sold excluding of
sales tax, insurance, packing & forwarding charges etc. Sales of goods
is recognized on transfer of property of goods as per agreed terms
2.5 Retirement Benefits
These are accounted for as and when paid.
2.6 Investments Investments are valued at cost.
2.7 Earning per Share
The earnings considered in ascertaining the company''s EPS comprise the
net profit or (loss) for the period after tax and extra ordinary items.
The Basis EPS is computed on the basis of weighted average number of
equity shares outstanding during the year. The Number of Share for
computation of diluted EPS comprise of weighted average number of
equity shares considered for deriving basic EPS.
NOTES FORMING PARTS OF FINANCIAL STATEMENT | Continued
2.8 Taxes on Income
Tax expenses for the year comprises of current tax and deferred tax.
Current taxes are measured at the current rate of tax in accordance
with provision of the Income Tax Act, 1961.
Deferred Tax Assets & Liabilities are recognized for future tax
consequences attributable to the timing differences that results
between taxable profit & the profit as per the financial statement.
Deferred tax Assets & liabilities are measured using the tax rate and
tax laws that have been enacted or substantively enacted at the Balance
Sheet Date.
Deferred tax assets are recognized on unabsorbed depreciation & carry
forward losses under tax law to the extent there is virtual certainty
that sufficient future taxable income will be available against which
such deferred tax assets can be realized The effect of deferred tax
assets & liabilities of a change in tax rate is recognized in the
Profit & Loss account in the year of Change.
2.9 Contingent Liabilities
Contingent liabilities are determined on the basis of available
information and are disclosed by way of Notes to Accounts.
Mar 31, 2012
1.1 Accounting Concepts :
The Company follows the mercantile system of accounting and recognized
Income and Expendi- ture on accrual basis. The accounts are prepared on
historical cost convention and as a going concern. Accounting policies
not referred to otherwise are consistent with generally accepted
Accounting Principles.
1.2 Fixed Assets
Fixed Assets are stated at cost (Including other expenses related to
acquisition and installation).Less accumulated Depreciation
1.3 Depreciation
i. Depreciation has been provided under W D V method at the rates
prescribed in Schedule XTV of the Companies Act, 1956 (as amended).
ii. Depreciation of fixed assets is provided on Pro-rata basis from
the date of their purchase / acquisition / capitalization till the date
of disposal.
1.4 Revenue Recognition
Revenue from Sales represented invoice value of goods sold including of
sales tax, insurance, packing & forwarding charges and Technical
services etc. Sales of goods is recognized on transfer of property of
goods as per agreed terms
1.5 Retirement Benefits
These are accounted for as and when paid.
1.6 Investments
Investments are valued at cost.
1.7 Earning per Share
The earnings considered in ascertaining the company's EPS comprise the
net profit or (loss) for the period after tax and extra ordinary items.
The Basis EPS is computed on the basis of weighted average number of
equity shares outstanding during the year. The Number of Share for
computation of diluted EPS comprise of weighted average number of
equity shares considered for deriving basic EPS.
1.8 Taxes on Income
Tax expenses for the year comprises of current tax and deferred tax.
Current taxes are measured at the current rate of tax in accordance
with provision of the Income Tax Act, 1961. Deferred Tax Assets &
Liabilities are recognized for future tax consequences attributable to
the timing differences that results between taxable profit &. the
profit as per the financial statement. Deferred tax Assets &
liabilities are measured using the tax rate and tax laws that have been
enacted or substantively enacted at the Balance Sheet Date.
Deferred tax assets are recognized on unabsorbed depreciation & carry
forward losses under tax law to the extent there is virtual certainty
that sufficient future taxable income will be available against which
such deferred tax assets can be realized The effect of deferred tax
assets & liabilities of a change in tax rate is recognized in the
Profit &. Loss account in the year of Change.
1.9 Contingent Liabilities
Contingent liabilities are determined on the basis of a vailable
information and are disclosed by way of Notes to Accounts.
Mar 31, 2011
1. Accounting Concepts :
The Company follows the mercantile system of accounting and recognized
Income and Expenditure on accrual basis. The accounts are prepared on
historical cost convention and as a going concern. Accounting policies
not referred to otherwise are consistent with generally accepted
Accounting Principles.
2. Fixed Assets
Fixed Assets are stated at cost (Including other expenses related to
acquisition and installation).Less accumulated Depreciation
3. Depreciation
i. Depreciation has been provided under W D V method at the rates
Prescribed in Schedule XIV of the Companies Act, 1956 (as amended).
ii. Depreciation of fixed assets is provided on Pro-rata basis from
the date of their
purchase / acquisition / capitalization till the date of disposal.
4. Inventories
i. Raw materials and stores and spares are valued at Cost or net
realizable value.
whichever is Lower
ii. Work-in-Progress is valued at estimated value.
iii. Finished goods are valued at lower of cost or market price.
5. Turnover
Turnover represented invoice value of goods sold including of sales
tax, insurance, packing & forwarding charges and Technical services
etc. Sales of goods is recognized on transfer of property of goods as
per agreed terms
6. Miscellaneous Expenditure
Miscellaneous Expenditure "consists of preliminary expenses and share
issue expenses" which are amortized equally over ten years.
7. Retirement Benefits
These are accounted for as and when paid.
8. Investments
Investments are valued at cost.
Mar 31, 2010
1. Accounting Concepts :
The Company follows the mercantile system of accounting and recognized
Income and Expenditure on accrual basis. The accounts are prepared on
historical cost convention and as a going concern. Accounting policies
not referred to otherwise are consistent with generally accepted
Accounting Principles.
2. Fixed Assets
Fixed Assets are stated at cost (Including other expenses related to
acquisition and installation).Less accumulated Depreciation
3. Depreciation
i. Depreciation has been provided under W D V method at the rates
prescribed in
Schedule XIV of the Companies Act, 1956 (as amended).
ii. Depreciation of fixed assets is provided on Pro-rata basis from
the date of their purchase / acquisition / capitalization till the date
of disposal.
4. Inventories
i. Raw materials and stores and spares are valued at Cost or net
realizable value.
whichever is Lower ii. Work-in-Progress is valued at estimated value.
iii. Finished goods are valued at lower of cost or market price.
5. Turnover
Turnover represented invoice value of goods sold including of sales
tax, insurance, packing & forwarding charges and Technical services
etc. Sales of goods is recognized on transfer of property of goods as
per agreed terms
6. Miscellaneous Expenditure
Miscellaneous Expenditure "consists of preliminary expenses and share
issue expenses" which are amortized equally over ten years.
7. Retirement Benefits
These are accounted for as and when paid.
8. Investments Investments are valued at cost.