Mar 31, 2014
A. Basis & Method of Accounting
The financial statements have been prepared on accrual basis under
historical cost convention in accordance with generally accepted
accounting principles in India and the provision of the Companies
Act,1956.
b. Use of Estimates
The preparation of financial statements is conformity with generally
accepted accounting principles requires the management to make
estimates and assumptions that effects the reported balances of assets
and liabilities as of the date of financial statement and reported
amount of income and expenses during the period management believe that
the estimates used in the preparation of financial statements are
prudent and reasonable. Actual results could differ from the Estimates.
c. Fixed Assets
Fixed Assets are stated at cost of acquisition or construction
inclusive of capitalization of all costs incurred till the commencement
of commercial production.
d. Impairment of Assets
The carrying amount of assets are reviewed at each Balance Sheet date,
if there is any indication of impairment based on internal / external
factors. An asset is impaired when the carrying amount of the asset
exceed the recoverable amount. An impairment loss is charged to the
Statement of Profit and Loss in the year in which the asset is
identified as being impaired.
e. Depreciation
The depreciation on Fixed Assets is provided on straight line method,
in accordance with the Schedule XIV to the Companies Act, 1956. The
depreciation on Assets added during the year has been provided on
pro-rata basis with reference to the date on which the assets were put
to use. No depreciation has been provided on the fixed assets, which
have not been put to use during the year.
f. Revenue recognition
Sales represent invoice value of goods supplied and service rendered,
including Sales Tax applicable and are net of rate difference and goods
returned.
g. Inventories
Inventories are valued at cost or net realizable value whichever is
lower. The cost is worked out on weighted average basis.
h. Research and Development Expenses
Expenditure relating to capital items is debited to fixed assets and
depreciated at applicable rates. Revenue expenses are charged to the
Statement of Profit & Loss of the year.
i. Retirement Benefits
Retirement benefits are given as per term & condition of contract with
employee. Short term employee''s benefits are recognized at the
undiscounted amount in the profit and loss account.
j. Taxation
Income-tax expenses comprises current tax and deferred tax charge or
credit. The deferred tax asset and deferred tax liability is calculated
by applying tax rate and tax laws that have been enacted or
substantially enacted by the Balance Sheet date. Deferred tax assets
arising mainly on account of brought forward losses and unabsorbed
depreciation under tax laws, are recognized, only if there is a virtual
certainty of its realization, supported by convincing evidence.
Deferred tax assets on account of other timing differences are
recognized only to the extent there is a reasonable certainty of its
realization. At each Balance Sheet date, the carrying amount of
deferred tax assets is reviewed to reassure realization.
k. Earning per Share
The earnings considered in ascertaining the Company''s EPS are computed
as per Accounting Standard 20 on "Earning Per Share", issued by the
Institute of Chartered Accountants of India. The number of shares used
in computing basic EPS is the weighted average number of shares
outstanding during the period. The diluted EPS is calculated on the
same basis as basic EPS, after adjusting for the effects of potential
dilutive equity shares unless the effect of the potential dilutive
equity shares is anti- dilutive.
l. Segment Reporting
The Company is engaged in the Office Automation and Security Systems
and Services thereof being a single segment hence disclosure as
requirements of Accounting Standard AS-17 issued by the Institute of
Chartered Accountants of India is not applicable.
m. Other Accounting policies
These are consistent with generally accepted accounting practices.
(b) Term & right attached to Equity Shares
The Company has only one class of Equity Shares having a par value of
Rs.10/- per share. Each holder of Equity Share is entitled to one vote
per share. In the event of liquidation, a shareholder will be entitled
to receive remaining assets of the Company after distribution of all
preferential amount. The distribution will be in proportion to the
Equity Share held by the share holder.
Mar 31, 2012
A. Basis & Method of Accounting
The financial statements have been prepared on accrual basis under
historical cost convention in accordance with generally accepted
accounting principles in India and the provision of the Companies
Act,1956.
b. Use of Estimates
The preparation of financial statements is conformity with generally
accepted accounting principles requires the management to make
estimates and assumptions that effects the reported balances of assets
and liabilities as of the date of financial statement and reported
amount of income and expenses during the period management believe that
the estimates used in the preparation of financial statements are
prudent and reasonable. Actual results could differ from the Estimates.
c. Fixed Assets
Fixed Assets are stated at cost of acquisition or construction
inclusive of capitalization of all costs incurred till the commencement
of commercial production.
d. Impairment of Assets
The carrying amount of assets are reviewed at each Balance Sheet date,
if there is any indication of impairment based on internal / external
factors. An asset is impaired when the carrying amount of the asset
exceed the recoverable amount. An impairment loss is charged to the
Statement of Profit and Loss in the year in which the asset is
identified as being impaired.
e. Depreciation
The depreciation on Fixed Assets is provided on straight line method,
in accordance with the Schedule XIV to the Companies Act, 1956. The
depreciation on Assets added during the year has been provided on
pro-rata basis with reference to the date on which the assets were put
to use. No depreciation has been provided on the fixed assets, which
have not been put to use during the year.
f. Investments
The long term investments (unquoted) are stated at cost. The income
from investments is accounted for when received.
g. Revenue recognition
Sales represent invoice value of goods supplied and service rendered,
including Sales Tax applicable and are net of rate difference and goods
returned.
h. Inventories
Inventories are valued at cost or net realizable value whichever is
lower. The cost is worked out on weighted average basis.
i. Research and Development Expenses
Expenditure relating to capital items is debited to fixed assets and
depreciated at applicable rates. Revenue expenses are charged to the
Statement of Profit & Loss of the year.
j. Retirement Benefits
No provisions has been made for payment of gratuity since it is not yet
applicable. Leave encashment benefits have been charged to Statement of
Profit & Loss.
k. Borrowing Cost
Borrowing costs that are attributable to acquisition or construction of
qualifying assets are capitalized as a part of the cost of such asset.
A Qualifying asset is one that necessarily takes a substantial period
of time to get ready for intended use. All other borrowing costs are
charged to the Statement of Profit & Loss.
l. Taxation
IncomeÃtax expenses comprises current tax and deferred tax charge or
credit. The deferred tax asset and deferred tax liability is calculated
by applying tax rate and tax laws that have been enacted or
substantially enacted by the Balance Sheet date. Deferred tax assets
arising mainly on account of brought forward losses and unabsorbed
depreciation under tax laws, are recognized, only if there is a virtual
certainty of its realization, supported by convincing evidence.
Deferred tax assets on account of other timing differences are
recognized only to the extent there is a reasonable certainty of its
realization. At each Balance Sheet date, the carrying amount of
deferred tax assets is reviewed to reassure realization.
m. Earning per share
The earnings considered in ascertaining the CompanyÃs EPS are computed
as per Accounting Standard 20 on ÃEarning Per Share", issued by the
Institute of Chartered Accountants of India. The number of shares used
in computing basic EPS is the weighted average number of shares
outstanding during the period. The diluted EPS is calculated on the
same basis as basic EPS, after adjusting for the effects of potential
dilutive equity shares unless the effect of the potential dilutive
equity shares is anti- dilutive.
n. Segment Reporting
The Company is engaged in the Office automation and Security Systems
and Services thereof being a single segment hence disclosure as
requirements of Accounting Standard AS-17 issued by the Institute of
Chartered Accountants of India is not applicable.
o. Miscellaneous Expenditure
There is no miscellaneous expenditure for the year.
p. Other Accounting policies
These are consistent with generally accepted accounting practices.
Mar 31, 2011
A. Basis & Method of Accounting
The financial statements have been prepared on accrual basis under
historical cost convention in accordance with generally accepted
accounting principles in India and the provisions of the Companies
Act,1956.
b. Use of Estimates
The preparation of financial statements is conformity with generally
accepted accounting principles requires the management to make
estimates and assumptions that effects the reported balances of assets
and liabilities as of the date of financial statement and reported
amount of income and expenses during the period management believe that
the estimates used in the preparation of financial statements are
prudent and reasonable. Actual results could differ from the estimates.
c. Fixed Assets
Fixed Assets are stated at cost of acquisition or construction
inclusive of capitalization of all costs incurred till the commencement
of commercial production.
d. Impairment of Assets
The carrying amount of assets are reviewed at each Balance Sheet date,
if there is any indication of impairment based on internal / external
factors. An asset is impaired when the carrying amount of the asset
exceed the recoverable amount. An impairment loss is charged to the
Profit and Loss Account in the year in which the asset is identified as
being impaired.
e. Depreciation
The depreciation on Fixed Assets is provided on straight line method,
in accordance with the Schedule XIV to the Companies Act, 1956. The
depreciation on Assets added during the year has been provided on pro-
rata basis with reference to the date on which the assets were put to
use. No depreciation has been provided on the fixed assets, which have
not been put to use during the year.
f. Investments
The long term investments (unquoted) are stated at cost. The income
from investments is accounted for when received.
g. Revenue recognition
Sales represent invoice value of goods supplied and service rendered,
including Sales Tax applicable and are net of rate difference and goods
returned.
h. Inventories
Inventories are valued at cost or net realizable value whichever is
lower. The cost is worked out on weighted average basis.
i. Research and Development Expenses
Expenditure relating to capital items is debited to fixed assets and
depreciated at applicable rates. Revenue expenses are charged to Profit
& Loss Account of the year.
j. Retirement Benefits
No provisions has been made for payment of gratuity since it is not yet
applicable. Leave encashment benefits have been charged to Profit &
Loss Account.
k. Borrowing Cost
Borrowing costs that are attributable to acquisition or construction of
qualifying assets are capitalized as a part of the cost of such asset.
A Qualifying asset is one that necessarily takes a substantial period
of time to get ready for intended use. All other borrowing costs are
charged to Profit & Loss Account.
l. Taxation
Income-tax expenses comprises current tax and deferred tax charge or
credit. The deferred tax asset and deferred tax liability is calculated
by applying tax rate and tax laws that have been enacted or
substantially enacted by the Balance Sheet date. Deferred tax assets
arising mainly on account of brought forward losses and unabsorbed
depreciation under tax laws, are recognized, only if there is a virtual
certainty of its realization, supported by convincing evidence.
Deferred tax assets on account of other timing differences are
recognized only to the extent there is a reasonable certainty of its
realization. At each Balance Sheet date, the carrying amount of
deferred tax assets is reviewed to reassure realization.
m. Earning per share
The earnings considered in ascertaining the CompanyÃs EPS are
computed as per Accounting Standard 20 on "Earning Per ShareÃ, issued
by the Institute of Chartered Accountants of India. The number of
shares used in computing basic EPS is the weighted average number of
shares outstanding during the period. The diluted EPS is calculated on
the same basis as basic EPS, after adjusting for the effects of
potential dilutive equity shares unless the effect of the potential
dilutive equity shares is anti-dilutive.
n. Segment Reporting
The Company is engaged in the Office automation and security system and
services thereof being a single segment hence disclosure as
requirements of Accounting Standard AS-17 issued by the Institute of
Chartered Accountants of India is not applicable.
o. Miscellaneous Expenditure
There is no miscellaneous expenditure for the year.
p. Other Accounting policies
These are consistent with generally accepted accounting practices.
Mar 31, 2010
A. Basis & Method of Accounting
The financial statements have been prepared on accrual basis under
historical cost convention in accordance with generally accepted
accounting principles in India and the prfovision of the Companies
Act,1956.
b. Use of Estimates
The preparation of financial statements is conformity with generally
accepted accounting principles requires the management to make
estimates and assumptions that effects the reported balances of assets
and liabilities as of the date of financial statement and reported
amount of income and expenses during the period management believe that
the estimates used in the preparation of financial statements are
prudent and reasonable. Actual results could differ from the estimates.
c. Fixed Assets
Fixed Assets are stated at cost of acquisition or construction
inclusive of capitalization of all costs incurred till the commencement
of commercial production.
d. Impairment of Assets
The carrying amount of assets are reviewed at each Balance Sheet date,
if there is any indication of impairment based on internal / external
factors. An asset is impaired when the carrying amount of the asset
exceed the recoverable amount. An impairment loss is charged to the
Profit and Loss Account in the year in which the asset is identified as
being impaired.
e. Depreciation
The depreciation on Fixed Assets is provided on straight line method,
in accordance with the Schedule XIV to the Companies Act, 1956. The
depreciation on Assets added during the year has been provided on pro-
rata basis with reference to the date on which the assets were put to
use. No depreciation has been provided on the fixed assets, which have
not been put to use during the year.
f. Investments
The long term investments (unquoted) are stated at cost. The income
from investments is accounted for when received.
g. Revenue recognition
Sales represent invoice value of goods supplied and service rendered,
including Sales Tax applicable and are net of rate difference and goods
returned.
h. Inventories
Inventories are valued at cost or net realizable value whichever is
lower. The cost is worked out on weighted average basis.
i. Research and Development Expenses
Expenditure relating to capital items is debited to fixed assets and
depreciated at applicable rates. Revenue expenses are charged to Profit
& Loss Account of the year.
j. Retirement Benefits
No provisions has been made for payment of gratuity since it is not yet
applicable. Leave encashment benefits have been charged to Profit &
Loss Account.
k. Borrowing Cost
Borrowing costs that are attributable to acquisition or construction of
qualifying assets are capitalized as a part of the cost of such asset.
A Qualifying asset is one that necessarily takes a substantial period
of time to get ready for intended use. All other borrowing costs are
charged to Profit & Loss Account.
I. Taxation
Income-tax expenses comprises current tax and deferred tax charge or
credit. The deferred tax asset and deferred tax liability is calculated
by applying tax rate and tax laws that have been enacted or
substantially enacted by the Balance Sheet date. Deferred tax assets
arising mainly on account of brought forward losses and unabsorbed
depreciation under tax laws, are recognized, only if there is a virtual
certainty of its realization, supported by convincing evidence.
Deferred tax assets on account of other timing differences are
recognized only to the extent there is a reasonable certainty of its
realization. At each Balance Sheet date, the carrying amount of
deferred tax assets is reviewed to reassure realization.
m. Earning per share
The earnings considered in ascertaining the Companys EPS are computed
as per Accounting Standard 2C on "Earning Per Share", issued by the
Institute of Chartered Accountants of India. The number of share: used
in computing basic EPS is the weighted average number of shares
outstanding during the period. The diluted EPS is calculated on the
same basis as basic EPS, after adjusting for the effects of potential
dilutive equity shares unless the effect of the potential dilutive
equity shares is anti-dilutive.
n. Segment Reporting
The Company is engaged in the Office automation and security system and
services thereof being a singment segment hence disclosure as
requirements of Accounting Standard AS-17 issued by the Institute o
Chartered Accountants of India is not applicable.
o. Miscellaneous Expenditure
There is no miscellaneous expenditure for the year.
p. Other Accounting policies
These are consistent with generally accepted accounting practices.
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