Mar 31, 2015
1. SIGNIFICANT ACCOUNTING POLICIES
1.1 Basis of Accounting: The financial statements are prepared under
historical cost convention and comply with the notified accounting
standards of Companies Accounting Standards Rules, 2006.
1.2 Use of Estimates :The preparation of financial statements in
conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported
amounts of assets and liabilities at the date of the financial
statements and the result of operations during the reporting period end
Although these estimates are based upon management's best knowledge of
current events and actions, actual results could differ from these
estimates.
1.3 Revenue Recognition: Revenue is recognised on accrual basis.
1.4 Taxation : Provision for Taxation comprises of Income Tax Liability
on the profits for the year chargeable to tax and Deferred Tax
resulting from timing differences between Book and Tax profits. The
Deferred Tax assets/ Liability is provided in accordance with the
Accounting standard- 22(AS-22), "Accounting for Taxes on Income".
Where Minium Alternate Tax (MAT) is applicable, it is provided in the
statement of Profit and Loss irrespective of the Tax Credit benefits
envisaged in the Income Tax Act, 1961.
1.5 Cash and Cash Equivalents: Cash and Cash Equivalents for the
purposes of cash flow statement comprise cash at bank and in hand.
Mar 31, 2014
1.1 Basis of Accounting: The financial statements are prepared under
historical cost convention and comply with the notified accounting
standards of Companies Accounting Standards Rules, 2006.
1.2 Use of Estimates :The preparation of financial statements in
conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported
amounts of assets and liabilities at the date of the financial
statements and the result of operations during the reporting period
end. Although these estimates are based upon management''s best
knowledge of current events and actions, actual results could differ
from these estimates.
1.3 Revenue Recognition : Revenue is recognised on accrual basis.
1.4 Taxation : Provision for Taxation comprises of Income Tax Liability
on the profits for the year chargeable to tax and Deferred Tax
resulting from timing differences between Book and Tax profits. The
Deferred Tax assets/ Liability is provided in accordance with the
Accounting standard- 22(AS-22), "Accounting for Taxes on Income".
Where Minium Alternate Tax (MAT) is applicable, it is provided in the
statement of Profit and Loss irrespective of the Tax Credit benefits
envisaged in the Income Tax Act, 1961.
1.5 Cash and Cash Equivalents : Cash and Cash Equivalents for the
purposes of cash flow statement comprise cash at bank and in hand.
2(b)Terms/ Rights attached to Equity Shares
The company has only one class of equity shares having a face value of
Rs. 10 per share. Each equity shareholder is entitled to one vote per
share. In the event of winding up of the company, the equity
shareholders shall be entitled to be repaid remaining assets of the
company in the ratio of the amount of capital paid up on such equity
shares.
Mar 31, 2013
1.1 Basis of Accounting; The financial statements are prepared under
historical cost convention and comply with the notified accounting
standards of Companies Accounting Standards Rules, 2006 12 Use of
Estimate to
1.2 The preparation of financial statements if conformity with
generally accepted d ac co uniting principles requires management to mace
estimates and assumptions that affect the reported amounts of assets
and liabilities at tie date of the financial statements and the result
of operations during the reporting period end. Although these estimates
are based upon management''s best knowledge of current events and
actions, actual results could differ from these estimates.
1.3 Revenue Recognition: Revenue is recognized on accrual basis.
1.4 Taxation: Provision for Taxation comprises of Income tax Liability
on the profits for the year chargeable to tax and Offered Tax
resulting from timing differences between Book and Tax profits. The
Deferred Tax assets/ Liability is provided in accordance with the
Accounting standard-22(AS-22), "Accounting or Taxes on Income".
Where Minimum Alternate Tax (MAT) is applicable, it is provided in the
statement of Profit and Loss irrespective of the Tax Credit benefits
envisaged 111 the income Tax Act. 1961.
1.5 Cash and Cash Equivalents: Cash and Cash Equivalents for the
purposes of cash flow statement comprise cash at bank and in hand ;
Mar 31, 2012
(a) Basis of Accounting: The financial statements are prepared under
historical cost convention and comply with the notified accounting
standards of Companies Accounting Standards Rules, 2006.
(b) Use of Estimates :The preparation of financial statements in
conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported
amounts of assets and liabilities at the date of the financial
statements and the result of operations during the reporting period
end. Although these estimates are based upon management's best
knowledge of current events and actions, actual results could differ
from these estimates.
(c) Excise Duty : Excise Duties recovered are included in the sale of
product. Purchases are being shown at a figure net of excise duty.
(d) Revenue Recognition: Revenue is recognized on accrual basis.
(e) Depreciation : Depreciation is provided under the straight-line
method at the rates prescribed in Schedule XIV of the Companies Act,
1956.
(f) Taxation: Provision for Taxation comprises of Income Tax Liability
on the profits for the year chargeable to tax and Deferred Tax
resulting from timing differences between Book and Tax profits, The
Deferred Tax assets/ Liability is provided in accordance with the
accounting standard 22(AS-22), "Accounting for Taxes on Income" issued
by the Institute of Chartered Accountants of India.
Where Minim Alternate Tax (MAT) is applicable, it is provided in the
Profit and Loss Account irrespective of the Tax Credit benefits
envisaged in the Income Tax Act, 1961.
Mar 31, 2011
(a) Basis of Accounting : The financial statements are prepared under
historical cost convention and comply with the notified accounting
standards of Companies Accounting Standards Rules. 2006.
(b) Use of Estimates :The preparation of financial statements in
conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported
amounts of assets and liabilities at the date of the financial
statements and the result of operations during the reporting period
end. Although these estimates are based upon managements best
knowledge of current events and actions, actual results could differ
from these estimates.
(c) Excise Duty : Excise Duties recovered are included in the sale of
product. Purchases are being shown at a figure net of excise duty.
(d) Revenue Recognition : Revenue is recognised on accrual basis.
(e) Depreciation : Depreciation is provided under the straight-line
method at the rates prescribed in Schedule XIV of the Companies Act,
1956.
(f) Taxation : Provision for Taxation comprises of Income Tax Liability
on the profits for the year chargeable to tax and Deferred Tax
resulting from timing differences between Book and Tax profits, The
Deferred Tax assets/ Liability is provided in accordance with the
accounting standard 22(AS-22), "Accounting for Taxes on Income" issued
by the Institute of Chartered Accountants of India.
Where Minium Alternate Tax (MAT) is applicable, it is provided in the
Profit and Loss Account irrespective of the Tax Credit benefits
envisaged in the Income Tax Act, 1961.
Mar 31, 2010
(a) Basis of Accounting : The financial statements are prepared under
historical cost convention on a going concern basis and comply with the
notified accounting standards of Companies Accounting Standards Rules,
2006.
(b) Use of Estimates :The preparation of financial statements in
conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported
amounts of assets and liabilities at the date of the financial
statements and the result of operations during the reporting pehod end.
Although these estimates are based upon managements best knowledge of
current events and actions, actual results could differ from these
estimates.
(c) Fixed Assets : All Fixed Assets have been valued at cost (net of
Cenvat, where applicable). All cost incidental to the acquisition and
installation of the assets are capitalised.
(d) Excise Duty : Excise Duties recovered are included in the sale of
product. Purchases are being shown at a figure net of excise duty.
je) Inventories : Inventories of raw material, Packing material & Work
in Progress are valued at cost; and finished goods are valued at cost
or net recognized value which ever is lower. Finished goods-trading are
valued at cost. Raw Material in hand is valued at FIFO basis and
packing materials at weighted average basis.
(f) Investments: Investments are stated at cost. However, provision for
diminution in value is made to recognize a decline other than temporary
in the value of the investments.
(g) Revenue Recognition : Revenue is recognised on accrual basis.
(h) Depreciation : Depreciation is provided under the straight-line
method at the rates prescribed in Schedule XIV of the Companies Act,
1956. In respect of additions during the year, depreciation has been
provided on pro-rata basis.
(i) Provisions for Doubtful Debts : Provisions for doubtful debts are
made in cases where collection of debt is uncertain.
(j) Taxation : Provision of Taxation comprises of Income Tax Liability
on the profits for the year chargeable to tax and Deferred Tax
resulting from timing differences between Book and Tax profits, The
Deferred Tax assets/ Liability is provided in accordance with the
accounting standard 22 (AS-22), "Accounting for Taxes on Income" issued
by the Institute of Chartered Accountants of India.
Where Minium Alternate Tax (MAT) is applicable, it is provided in the
Profit and Loss Account irrespective of the Tax Credit benefits
envisaged in the Income Tax Act, 1961.
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