Mar 31, 2014
1. ACCOUNTNG ASSUMPTIONS :
The accounts have been prepared under the historic cost convention on
the basis of a going concern concept, with revenues recognized and
expenses accounted for on their accrual with due provisions/adjustments
for obligations that have been crystallized but not yet incurred.
2. SALES :
Sales include VAT.
3. BASIS OF PRESENTAION :
The structure of the accounts has been drawn in accordance with the
Revised Schedule VI of the Companies Act, 1956.
4. FIXED ASSETS:
Fixed Assets are stated at cost less depreciation. Cost includes
freight, installation Charges, duties, taxes, and other incidental
charges thereon.
5. DEPRECIATION:
Depreciation is charged on straight line method as per Schedule XIV of
the Companies Act, 1956. Depreciation on assets acquired during the
year is calculated on pro-rata basis with reference to the date of
acquisition.
6. TAXATION:
Deferred Tax is recognized, subject to the consideration of prudence,
on timing difference being the differences between taxable incomes and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods.
7. INVENTORIES:
Inventories are valued as under.
a) Raw materials are valued at cost less VAT.
b) Finished goods are valued at cost price excluding Central Excise on
them.
c) Excise duty is accounted for as and when the same is paid on the
dispatch of the goods from the factory.
8. RETIREMENT BENEFITS
The company has a policy of paying retirement benefits to its employees
as and when due.
9. INVESTMENTS:
Investments stated at cost.
10. MISCELLANEOUS EXPENDITURE:
All expenditure, the benefit of which is spread over a number of years
grouped under Miscellaneous Expenditure to be amortized in five
instalments from the year in which the benefit of such expenditure
accrues.
Notes forming part of the Balance Sheet as at 31st March, 2014 and
Profit and Loss statement for the period ended on that date.
Mar 31, 2013
1. ACCOUNTNG ASSUMPTIONS:
The accounts have been prepared under the historic cost convention on
the basis of a going concern concept, with revenues recognized and
expenses accounted for on their accrual with due provisions/adjustments
for obligations that have been crystallized but not yet incurred.
2. SALES:
Sales exclude excise duty and VAT.
3. BASIS OF PRESENTAION:
The structure of the accounts has been drawn in accordance with the
Revised Schedule VI of the Companies Act, 1956.
4. FIXED ASSETS:
Fixed Assets are stated at cost less depreciation. Cost includes
freight, installation Charges, duties, taxes, and other incidental
charges thereon. The plant and
Machinery acquired during the year is capitalized net of CENVAT and VAT
Credit available on such purchase.
5. DEPRECIATION:
Depreciation is charged on straight line method as per Schedule XIV of
the Companies Act, 1956. Depreciation on assets acquired during the
year is calculated on pro-rata basis with reference to the date of
acquisition.
6. TAXATION:
Deferred Tax is recognized, subject to the consideration of prudence,
on timing difference being the differences between taxable incomes and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods.
7. INVENTORIES:
Inventories are valued as under.
a) Raw materials are valued at cost less CENVAT & VAT.
b) Finished goods are valued at cost price excluding Central Excise on
them.
c) Excise duty is accounted for as and when the same is paid on the
dispatch of the goods from the factory.
8. RETIREMENT BENEFITS
The company has a policy of paying retirement benefits to its employees
as and when due.
9. INVESTMENTS:
Investments stated at cost.
10. MISCELLANEOUS EXPENDITURE:
All expenditure, the benefit of which is spread over a number of years
grouped under Miscellaneous Expenditure to be amortized in five
installments from the year in which the benefit of such expenditure
accrues.
Mar 31, 2012
1. ACCOUNTNG ASSUMPTIONS :
The accounts have been prepared under the historic cost convention on
the basis of a going concern concept' with revenues recognized and
expenses accounted for on their accrual with due provisions/adjustments
for obligations that have been crystallized but not yet incurred.
2. SALES:
Sales exclude excise duty and VAT.
3. BASIS OF PRESENTAION :
The structure of the accounts has been drawn in accordance with the
Revised Schedule VI of the Companies Act' 1956.
4. FIXED ASSETS:
Fixed Assets are stated at cost less depreciation. Cost includes
freight' installation Charges' duties' taxes' and other incidental
charges thereon. The plant and Machinery acquired during the year is
capitalized net of CENVAT and VAT Credit available on such purchase.
5. DEPRECIATION:
Depreciation is charged on straight line method as per Schedule XIV of
the Companies Act' 1956 Depreciation on assets acquired during the year
is calculated on pro-rata basis with reference to the date of
acquisition.
6. TAXATION:
Deferred Tax is recognized' subject to the consideration of prudence'
on timing difference being the differences between taxable incomes and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods.
7. INVENTORIES: Inventories are valued as u ider.
a) Raw materials are valued at cost less CENVAT & VAT.
b) Finished goods are valued at cost price excluding Central Excise on
them.
c) Excise duty is accounted for as and when the same is paid on the
dispatch of the goods from the factory.
8. RETIREMENT BENEFITS
The company has a policy of paying retirement benefits to its employees
as and when due.
9. INVESTMENTS: Investments stated at cost.
10. MISCELLANEOUS EXPENDITURE:
All expenditure' the benefit of which is spread over a number of years
grouped under Miscellaneous Expenditure to be amortized in five
installments from the year in which the benefit of such expenditure
accrues.
Mar 31, 2011
1.ACCOUNTNG ASSUMPTIONS:
The accounts have been prepared under the historic cost convention on
the basis of a going concern concept, with revenues recognized and
expenses accounted for on their accrual with due provisions/adjustments
for obligations that have been crystallized but not yet incurred.
2. SALES:
Sales exclude excise duty and VAT.
3. BASIS OF PRESENTAION :
The structure of the accounts has been drawn in accordance with the
Schedule VI of the Companies Act, 1956.
4. FIXED ASSETS:
Fixed Assets are stated at cost less depreciation. Cost includes
freight, installation Charges, duties, taxes, and other incidental
charges thereon. The plant and Machinery acquired during the year is
capitalized net of CENVAT and VAT Credit available on such purchase.
5. DEPRECIATION:
Depreciation is charged on straight line method as per Schedule XIV of
the Companies Act, 1956. Depreciation on assets acquired during the
year is calculated on pro-rata basis with reference to the date of
acquisition.
6. TAXATION:
Deferred Tax is recognized, subject to the consideration of prudence,
on timing difference being the differences between taxable incomes and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods.
7. INVENTORIES:
Inventories are valued as under.
a) Raw materials are valued at cost less CENVAT & VAT.
b) Finished goods are valued at cost price excluding Central Excise on
them.
c) Excise duty is accounted for as and when the same is paid on the
dispatch of the goods from the factory.
8. RETIREMENT BENEFITS
The company has a policy of paying retirement benefits to its employees
as and when due.
9. INVESTMENTS: Investments stated at cost.
10. MISCELLANEOUS EXPENDITURE:
All expenditure, the benefit of which is spread over a number of years
grouped under Miscellaneous Expenditure to be amortized in five
installments from the year in which the benefit of such expenditure
accrues.1.ACCOUNTNG ASSUMPTIONS:
The accounts have been prepared under the historic cost convention on
the basis of a going concern concept, with revenues recognized and
expenses accounted for on their accrual with due provisions/adjustments
for obligations that have been crystallized but not yet incurred.
2. SALES:
Sales exclude excise duty and VAT.
3. BASIS OF PRESENTAION :
The structure of the accounts has been drawn in accordance with the
Schedule VI of the Companies Act, 1956.
4. FIXED ASSETS:
Fixed Assets are stated at cost less depreciation. Cost includes
freight, installation Charges, duties, taxes, and other incidental
charges thereon. The plant and Machinery acquired during the year is
capitalized net of CENVAT and VAT Credit available on such purchase.
5. DEPRECIATION:
Depreciation is charged on straight line method as per Schedule XIV of
the Companies Act, 1956. Depreciation on assets acquired during the
year is calculated on pro-rata basis with reference to the date of
acquisition.
6. TAXATION:
Deferred Tax is recognized, subject to the consideration of prudence,
on timing difference being the differences between taxable incomes and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods.
7. INVENTORIES:
Inventories are valued as under.
a) Raw materials are valued at cost less CENVAT & VAT.
b) Finished goods are valued at cost price excluding Central Excise on
them.
c) Excise duty is accounted for as and when the same is paid on the
dispatch of the goods from the factory.
8. RETIREMENT BENEFITS
The company has a policy of paying retirement benefits to its employees
as and when due.
9. INVESTMENTS: Investments stated at cost.
10. MISCELLANEOUS EXPENDITURE:
All expenditure, the benefit of which is spread over a number of years
grouped under Miscellaneous Expenditure to be amortized in five
installments from the year in which the benefit of such expenditure
accrues.
Mar 31, 2009
1.SECURED LOANS :
Working Capital from Union Bank of India is secured by hypothecation of
the stocks of raw materials, packing materials, work-in-process and
finished goods and also consumables stores and lien on all receivables
and personal guarantee of Promoter Directors and second charges of
fixed assets.
2.DEPRECIATION
Depreciation on fixed assets provided as per the rate prescribed in
Schedule XIV of the Companies Act, 1956 on straight lone method. The
depreciation in the current year taken on Plant and Machinery on single
shift basis, because the Company operated for one shift only. The
depreciation on vehicle has not been provided because it has not been
transferred in the name of Company.
3. No bonus has been paid or provided during the period in the
accounts of the Company.
4. INVENTORIES:
Excise duty has not been provided on finished goods not Cleared from
the factory. However, this has no bearing on the profit/loss for the
Current year.
5.INCOME TAX:
Since the Company has carried forward loses and it is is sick unit
under rehabilitation no provision is made for Income Tax or MAT.
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