Mar 31, 2015
Basis of accounting and preparation of financial statements
The financial statements of the Company have been prepared in
accordance with the Generally Accepted Accounting Principles in India
(Indian GAAP) to comply with the Accounting Standards notified under
the Companies (Accounting Standards) Rules, 2006 (as amended). The
financial statements have been prepared on accrual basis under the
historical cost convention. The accounting policies adopted in the
preparation of the financial statements are consistent with those
followed in the previous year.
Use of estimates
The preparation of the financial statements in conformity with Indian
GAAP requires the Management to make estimates and assumptions
considered in the reported amounts of assets and liabilities (including
contingent liabilities) and the reported income and expenses during the
year. The Management believes that the estimates used in preparation of
the financial statements are prudent and reasonable. Future results
could differ due to these estimates and the differences between the
actual results and the estimates are recognized in the periods in which
the results are known / materialized.
inventories
Inventories are valued at the lower of cost (on FIFO basis) and the net
realizable value after providing for obsolescence and other losses,
where considered necessary.
Cash and cash equivalents (for purposes of Cash Flow statement)
Cash comprises cash on hand and demand deposits with banks. Cash
equivalents are short-term balances (with an original maturity of three
months or less from the date of acquisition), highly liquid investments
that are readily convertible into known amounts of cash and which are
subject to insignificant risk of changes in value.
Cash Flow statements
Cash fows are reported using the indirect method, whereby profit /
(loss) before extraordinary items and tax is adjusted for the effects
of transactions of non-cash nature and any deferrals or accruals of
past or future cash receipts or payments. The cash fows from operating,
investing and financing activities of the Company are segregated based
on the available information.
Revenue Recognition
All incomes and expenditure are recognized as per 'Accounting
Standard-9' accounted on accrual basis except where stated otherwise.
Dividends on investments are accounted for when the right to receive
the dividend is established.
Employee Benefits
a. P.F. and E.S.I.C. Scheme is not applicable to the company.
b. Gratuity is accounted as and when it becomes due.
segment Reporting
The Company identifies primary segments based on the dominant source,
nature of risks and returns and the internal organization and
management structure. The operating segments are the segments for which
separate financial information is available and for which operating
profit/loss amounts are evaluated regularly by the executive Management
in deciding how to allocate resources and in assessing performance.
The accounting policies adopted for segment reporting are in line with
the accounting policies of the Company. Segment revenue, segment
expenses, segment assets and segment liabilities have been identified
to segments on the basis of their relationship to the operating
activities of the segment.
Inter-segment revenue is accounted on the basis of transactions which
are primarily determined based on market / fair value factors.
Revenue, expenses, assets and liabilities which relate to the Company
as a whole and are not allocable to segments on reasonable basis have
been included under "unallocated revenue / expenses / assets /
liabilities".
investments
Long-term investments are carried individually at cost less provision
for diminution, other than temporary, in the value of such investments.
Current investments are carried individually, at the lower of cost and
fair value. Costs of investments include acquisition charges such as
brokerage, fees and duties.
Borrowing Cost
Borrowing costs directly attributable to the acquisition and
construction of qualifying foxed assets are capitalized as part of the
cost of the assets, up to the date the asset is put to use. Other
borrowing costs are charged to the Profit and Loss Account.
taxes on income
Current Tax is determined as the tax payable in respect of taxable
income for the year, if any. Deferred tax for the year is recognized on
timing difference; being the difference between taxable incomes and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods. Deferred Tax Assets and
Liabilities are measured using the tax rates and tax laws that have
been enacted or substantively enacted by the Balance Sheet date.
Deferred Tax Assets are recognized and carried forward only if there is
a reasonable/virtual certainty of realization.
Current and deferred taxes relating to items directly recognized in
equity are recognized in equity and not in the Statement of Proof and
Loss.
provisions and Contingencies
A provision is recognized when the Company has a present obligation as
a result of past events and it is probable that an outflow of resources
will be required to settle the obligation in respect of which a
reliable estimate can be made. Provisions (excluding retirement
benefits) are not discounted to their present value and are determined
based on the best estimate required to settle the obligation at the
Balance Sheet date. These are reviewed at each Balance Sheet date and
adjusted to reflect the current best estimates. Contingent liabilities
are disclosed in the Notes.
impairment of assets
At the end of each year, the Company assesses whether any impairment
loss may have occurred in respect of its Assets in accordance with
Accounting Standard  28 "Impairment of Assets" issued by the Institute
of Chartered Accountants of India, and Impairment Losses if any are
accounted for by the company in accordance with the Standard
applicable.
Mar 31, 2014
1.1 Basis of accounting and preparation of financial statements
The financial statements of the Company have been prepared in
accordance with the Generally Accepted Accounting Principles in India
(Indian GAAP) to comply with the Accounting Standards notified under
the Companies (Accounting Standards) Rules, 2006 (as amended) and the
relevant provisions of the Companies Act, 1956. The financial
statements have been prepared on accrual basis under the historical
cost convention. The accounting policies adopted in the preparation of
the financial statements are consistent with those followed in the
previous year.
1.2 Use of Estimates
The preparation of the financial statements in conformity with Indian
GAAP requires the Management to make estimates and assumptions
considered in the reported amounts of assets and liabilities (including
contingent liabilities) and the reported income and expenses during the
year. The Management believes that the estimates used in preparation of
the financial statements are prudent and reasonable. Future results
could differ due to these estimates and the differences between the
actual results and the estimates are recognised in the periods in which
the results are known / materialised.
1.3 Inventories
Inventories are valued at the lower of cost (on FIFO basis) and the net
realisable value after providing for obsolescence and other losses,
where considered necessary.
1.4 Cash and cash equivalents (for purposes of Cash Flow Statement)
Cash comprises cash on hand and demand deposits with banks. Cash
equivalents are short-term balances (with an original maturity of three
months or less from the date of acquisition), highly liquid investments
that are readily convertible into known amounts of cash and which are
subject to insignificant risk of changes in value.
1.5 Cash Flow Statements
Cash flows are reported using the indirect method, whereby profit /
(loss) before extraordinary items and tax is adjusted for the effects
of transactions of non-cash nature and any deferrals or accruals of
past or future cash receipts or payments. The cash flows from
operating, investing and financing activities of the Company are
segregated based on the available information.
1.6 Revenue Recognition
All incomes and expenditure are recognised as per ''Accounting
Standard-9'' accounted on accrual basis except where stated otherwise.
Dividends on investments are accounted for when the right to receive
the dividend is established.
1.7 Employee Benefits
I. P.F and E.S.I.C Scheme is not applicable to the company.
II. Gratuity is accounted as and when it becomes due.
1.8 Segment Reporting
The Company identifies primary segments based on the dominant source,
nature of risks and returns and the internal organisation and
management structure. The operating segments are the segments for which
separate financial information is available and for which operating
profit/loss amounts are evaluated regularly by the executive Management
in deciding how to allocate resources and in assessing performance.
The accounting policies adopted for segment reporting are in line with
the accounting policies of the Company. Segment revenue, segment
expenses, segment assets and segment liabilities have been identified
to segments on the basis of their relationship to the operating
activities of the segment.
Inter-segment revenue is accounted on the basis of transactions which
are primarily determined based on market / fair value factors.
Revenue, expenses, assets and liabilities which relate to the Company
as a whole and are not allocable to segments on reasonable basis have
been included under "unallocated revenue / expenses / assets /
liabilities".
1.9 Investments
Long-term investments are carried individually at cost less provision
for diminution, other than temporary, in the value of such investments.
Current investments are carried individually, at the lower of cost and
fair value. Costs of investments include acquisition charges such as
brokerage, fees and duties.
1.10 Borrowing Cost
Borrowing costs directly attributable to the acquisition and
construction of qualifying fixed assets are capitalized as part of the
cost of the assets, up to the date the asset is put to use. Other
borrowing costs are charged to the Profit and Loss Account.
1.11 Taxes on Income
Current Tax is determined as the tax payable in respect of taxable
income for the year, if any. Deferred tax for the year is recognised on
timing difference; being the difference between taxable incomes and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods. Deferred Tax Assets and
Liabilities are measured using the tax rates and tax laws that have
been enacted or substantively enacted by the Balance Sheet date.
Deferred Tax Assets are recognised and carried forward only if there is
a reasonable/virtual certainty of realisation.
Current and deferred tax relating to items directly recognised in
equity are recognised in equity and not in the Statement of Profit and
Loss.
1.12 Provisions and Contingencies
A provision is recognised when the Company has a present obligation as
a result of past events and it is probable that an outflow of resources
will be required to settle the obligation in respect of which a
reliable estimate can be made. Provisions (excluding retirement
benefits) are not discounted to their present value and are determined
based on the best estimate required to settle the obligation at the
Balance Sheet date. These are reviewed at each Balance Sheet date and
adjusted to reflect the current best estimates. Contingent liabilities
are disclosed in the Notes.
1.13 Impairment of Assets
At the end of each year, the Company assesses whether any impairment
loss may have occurred in respect of its Assets in accordance with
Accounting Standard  28 "Impairment of Assets" issued by the
Institute of Chartered Accountants of India, and Impairment Losses if
any are accounted for by the company in accordance with the Standard
applicable.
Mar 31, 2012
1.1 Basis of Preparation of Financial Statements
Financial Statements have been prepared under the historical cost
convention and in accordance with the provisions of Companies Act,
1956. Accounting Policies not referred to otherwise are consistent and
are in accordance with the generally accepted accounting Principles in
India.
1.2 Use of Estimates
The preparation of Financial Statements are in confirmity with
generally accepted accounting principles requires estimates and
assumptions to be made to that effect the reported amount of Assets and
Liabilities on the date of financial statements and the reported amount
of revenue and expenses during the reporting period. Difference between
the actual results and estimates are recognized in the period in which
the results are known/materialized.
1.3 Fixed Assets
The Company is not having any Fixed Assets during the year under
review.
1.4 Depreciation
As the Company is not having any Fixed Asset during the year, the
method of charging Depreciation is not applicable to the Company.
1.5 Investments
The Company is not having any Investment during the year.
1.6 Inventories
The Company is not having any Inventories during the year.
1.7 Taxes on Income
Provision for Taxation is made on the basis of estimated taxable income
for the period at current rates. Tax expenses comprises of both Current
Tax and Deferred Tax at the applicable enacted or substantively enacted
rates. Current Tax represents the amount of Income Tax payable
/recoverable in respect of taxable income/loss for the reporting
period. Deferred Tax represents the effect of timing difference between
taxable income and accounting income for the reporting period that
originates in one year and are capable of reversal in one or more
subsequent years.
1.8 Provisions, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
events and it is probable that there will be an outfolow of resources.
Contingent Liabilities are not recognized but are disclosed in the
Notes. Contingent Assets are neither recognized nor disclosed in the
financial statements.
1.9 Revenue Recognition
Items of Income and Expenditure are recognized and accounted for on
Accrual basis.
1.10 Contingent Liability, if any, are disclosed by way of Notes.
Mar 31, 2011
1. The Financial Statements are prepared on mercantile basis under the
historical cost convention in accordance with the generally accepted
accounting principles in India, Accounting Standards notified under
section 211(3C) of the Companies Act 1956, read with the Companies
(Accounting Standard) Rules, 2006 and the other relevant provisions of
the Companies Act, 1956.
Revenue Recognition
2. All revenue and expenses are accounted on accrual basis.
Fixed Assets
3. All Fixed Assets are stated at cost. Costs include purchase price
and all other attributable costs of bringing the assets to working
condition for intended use.
Turnover
4. Turnover is stated after adjusting rebates and discounts and
excluding Sales tax
Depreciation
5. Depreciation on all assets is charged proportionately from the date
of acquisition/installation on written down method at rates prescribed
in Schedule XIV of the Companies Act, 1956. Assets costing less than `
5000/- individually have been fully depreciated in the year of
purchase.
Investments
6. Investments are valued at cost.
Retirement Benefit
7. None of the Employee has completed the service period to become
eligible for payment of gratuity.
Income Tax
8. Provision for taxes comprising of current tax is measured in
accordance with Accounting Standard 22- "Accounting For Taxes On
Income" issued by the Institute of Chartered Accountants of India :
9. Tax expenses comprises of current and deferred tax.
10. Provision for current income tax and fringe benefit tax is made on
the basis of relevant provisions of Income Tax Act, 1961 as applicable
to the financial year.
11. Deferred Tax is recognized subject to the consideration of prudence
on timing differences, being the difference between taxable Income and
Accounting Income that originate in one period and are capable of
reversal in one or more subsequent periods.
Provisions, Contingent Liabilities & Contingent Assets
Disclosures in terms of Accounting Standards (AS 29) Provisions,
Contingent Liabilities and Contingent Assets issued by the Institute of
Chartered Accountants of India :
12. The Company creates a provision when there is a present obligation
as a result of past event that probably requires an outflow of
resources and a reliable estimate can be made of the amount of the
obligation.
13. A disclosure for a contingent liability is made when there is a
possible obligation or present obligation that probably will not
require an outflow of resources or where reliable estimate of the
amount of the obligation cannot be made.
14. Contingent Assets are neither recognized nor disclosed.
Others
15. None of the Finished Products or Raw Materials, Stores, Spares and
Components consumed or purchased during the year have been imported.
16. None of the Earnings / Expenditures is in Foreign Currency.
17. Balance of Debtors, Creditors, Deposits, Loans and Advances are
subject to confirmation.
18. In the opinion of the Board, the Current Assets, Loans & Advances
are approximately of the value stated if realized in the ordinary
course of business. The provision for depreciation and all known
liabilities are adequate and not in excess of the amounts reasonably
necessary.
19. Investments of the Company have been considered by the management
to be of a long term nature and hence they are long term investments
and are valued at cost of acquisitions.
Segment Report
20. Based on the Similarity of activities, risks and reward structure,
organization structure and internal reporting systems, the Company was
in no business Segment during the year.
Mar 31, 2010
1. The Financial Statements are prepared on mercantile basis under the
historical cost convention in accordance with the generally accepted
accounting principles in India, Accounting Standards notified under
section 211(3C) of the Companies Act 1956, read with the Companies
(Accounting Standard) Rules, 2006 and the other relevant provisions of
the Companies Act, 1956.
Revenue Recognition
2. All revenue and expenses are accounted on accrual basis.
Fixed Assets
3. All Fixed Assets are stated at cost. Costs include purchase price
and all other attributable costs of bringing the assets to working
condition for intended use.
Turnover
4. Turnover is stated after adjusting rebates and discounts and
excluding Sales tax
Depreciation
5. Depreciation on all assets is charged proportionately from the date
of acquisition/installation on written down method at rates prescribed
in Schedule XIV of the Companies Act, 1956. Assets costing less than '
5000/- individually have been fully depreciated in the year of
purchase.
Investments
6. Investments are valued at cost.
Retirement Benefit
7. None of the Employee has completed the service period to become
eligible for payment of gratuity.
Income Tax
8. Provision for taxes comprising of current tax is measured in
accordance with Accounting Standard 22- ÃAccounting For Taxes On
Income" issued by the Institute of Chartered Accountants of India :
9. Tax expenses comprises of current and deferred tax.
10. Provision for current income tax and fringe benefit tax is made on
the basis of relevant provisions of Income Tax Act, 1961 as applicable
to the financial year.
11. Deferred Tax is recognized subject to the consideration of
prudence on timing differences, being the difference between taxable
Income and Accounting Income that originate in one period and are
capable of reversal in one or more subsequent periods.
Provisions, Contingent Liabilities & Contingent Assets
Disclosures in terms of Accounting Standards (AS 29) Provisions,
Contingent Liabilities and Contingent Assets issued by the Institute
of Chartered Accountants of India :
12. The Company creates a provision when there is a present obligation
as a result of past event that probably requires an outflow of
resources and a reliable estimate can be made of the amount of the
obligation.
13. A disclosure for a contingent liability is made when there is a
possible obligation or present obligation that probably will not
require an outflow of resources or where reliable estimate of the
amount of the obligation cannot be made.
14. Contingent Assets are neither recognized nor disclosed.
Others
15. None of the Finished Products or Raw Materials, Stores, Spares and
Components consumed or purchased during the year have been imported.
16. None of the Earnings / Expenditures is in Foreign Currency.
17. Balance of Debtors, Creditors, Deposits, Loans and Advances are
subject to confirmation.
18. In the opinion of the Board, the Current Assets, Loans & Advances
are approximately of the value stated if realized in the ordinary
course of business. The provision for depreciation and all known
liabilities are adequate and not in excess of the amounts reasonably
necessary.
19. Investments of the Company have been considered by the management
to be of a long term nature and hence they are long term investments
and are valued at cost of acquisitions.
Segment Report
20. Based on the Similarity of activities, risks and reward structure,
organization structure and internal reporting systems, the Company has
structured its operations into the following Segment :-
Manufacturing of Cement and Cement Products
Hiring of its Factory on Lease/Job Work
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