Accounting Policies of Trans Freight Containers Ltd. Company

Mar 31, 2015

A. Accounting Policies :

The books of accounts are prepared under the Historical Cost Convention Method using the accrual method of accounting.

b. Inventories :

Inventories are valued at the lower of cost or net realisable value.

c. Depreciation :

Depreciation on all assets is provided on the Straight Line Method in accordance with the provisions of Section 205 (2) (b) of the Companies Act, 1956 and in the manner prescribed in Schedule XI to the Companies Act, 1956.

d. Fixed Assets :

Fixed Assets are stated at cost of acquisition or construction. All costs including finance cost till commencement of commercial production are capitalised.

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Mar 31, 2014

A. Accounting Policies :

The books of accounts are prepared under the Historical Cost Convention Method using the accrual method of accounting.

b. Inventories :

Inventories are valued at the lower of cost or net realisable value.

c. Depreciation :

Depreciation on all assets is provided on the Straight Line Method in accordance with the provisions of Section 205 (2) (b) of the Companies Act, 1956 and in the manner prescribed in Schedule XIV to the Companies Act, 1956.

d. Fixed Assets :

Fixed Assets are stated at cost of acquisition or construction. All costs including finance cost till commencement of commercial production are capitalised.

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Mar 31, 2013

A. Accounting Policies :

The books of accounts are prepared under the Historical Cost Convention Method using the accrual method of accounting.

b. Inventories :

Inventories are valued at the lower of cost or net realisable value.

c. Depreciation :

Depreciation on all assets is provided on the Straight Line Method in accordance with the provisions of Section 205 (2) (b) of the Companies Act, 1956 and in the manner prescribed in Schedule XIV to the Companies Act, 1956.

d. Fixed Assets :

Fixed Assets are stated at cost of acquisition or construction. All costs including finance cost till commencement of commercial production are capitalised.

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Mar 31, 2011

1. Accounting Policies :

The books of Accounts are prepared under the Historical Cost Convention Method using the accrual method of accounting.

2. Inventories :

Inventories are valued at the lower of cost or net realisable value.

3. Depreciation :

Depreciation on all assets is provided on the Straight Line Method in accordance with the provisions of Section 205 (2) (b) of the Companies Act, 1956 and in the manner prescribed in Schedule XIV to the Companies Act, 1956.

4. Fixed Assets :

Fixed Assets are stated at cost of acquisition or construction. All costs including finance cost till commencement of commercial production are capitalized.

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Mar 31, 2010

1. Accounting Policies :

The books of Accounts are prepared under the Historical Cost Convention Method using the accrual method of accounting.

2. Inventories :

Inventories are valued at the lower of cost or net realisable value.

3. Depreciation :

Depreciation on all assets is provided on the Straight Line Method in accordance with the provisions of Section 205 (2) (b) of the Companies Act, 1956 and in the manner prescribed in Schedule XIV to the Companies Act, 1956.

4. Fixed Assets :

Fixed Assets are stated at cost of acquisition or construction. All costs including finance cost till commencement of commercial production are capitalized.

5. Government Grant :

The Company has been granted Rs. NIL ( Previous year Rs.163.12 Lacs ) as Sale Tax Incentive (Deferral ), under Part I of the 1988 Scheme of the Government of Maharashtra.

6. Retirement Benefits :

All workers and staff who left their jobs have been paid their gratuity, leave encashment and their pending dues as per the direction of the one time settlement agreed between the union and the management. There are no pending defined contributions such as Provident Fund.

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Mar 31, 2009

1. Accounting Policies :

The books of accounts are prepared under the Historical Cost Convention Method using the accrual method of accounting.

2. Inventories :

Inventories are valued at the lower of cost or net realisable value.

3. Depreciation :

Depreciation on all assets is provided on the Straight Line Method in accordance with the provisions of Section 205 (2) (b) of the Companies Act, 1956 and in the manner prescribed in Schedule XIV to the Companies Act, 1956.

4. Fixed Assets :

Fixed Assets are stated at cost of acquisition or construction. All costs including finance cost till commencement of commercial production are capitalized.

5. Government Grant :

The Company has been granted Rs. 163.12 Lacs (Previous year Rs. 163.12 Lacs) as Sale Tax Incentive (Deferral), under Part I of the 1988 Scheme of the Government of Maharashtra.

6. Retirement Benefits :

All workers and staff who left their jobs have been paid their gratuity, leave encashment and their pending dues as per the direction of the one time settlement agreed between the union and the management. There are no pending defined contributions such as Provident Fund.