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Company Information

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AADHAAR VENTURES INDIA LTD.

04 January 2019 | 12:00

Industry >> Non-Banking Financial Company (NBFC)

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ISIN No INE063D01030 BSE Code / NSE Code 531611 / AADHAARVEN Book Value (Rs.) 23.29 Face Value 10.00
Bookclosure 29/09/2023 52Week High 1 EPS 0.00 P/E 0.00
Market Cap. 7.70 Cr. 52Week Low 0 P/BV / Div Yield (%) 0.02 / 0.00 Market Lot 1.00
Security Type Other

ACCOUNTING POLICY

You can view the entire text of Accounting Policy of the company for the latest year.
Year End :2015-03 
a) Basis of Accounting

The accounts of the Company are prepared under the historical cost convention and are in accordance with the applicable accounting standards and accordingly accrual basis of accounting is followed for recognition of income and expenses except where otherwise stated and where the exact quantum is not ascertainable. Expenditure on issue of share capital, if any, is accounted when actually incurred.

b) Revenue Recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. The following specific recognition criteria are met before revenue is recognized:

(i) Sales are recognised on dispatch to the customers and recorded net of trade discounts, rebates, etc.

(ii) Interest income is recognised on a time proportion basis taking in to account the amount outstanding and the applicable interest rate

(iii) Dividend income is recognised when the company's right to receive dividend is established on the reporting date.

(iv) Other Income account on accrual basis

c) Fixed Assets

Fixed assets are stated at total capitalized costs relating and attributable directly or indirectly to acquisition and installation thereof as reduced by the accumulated depreciation thereon.

d) Depreciation/Amortization

Depreciation is provided on pro-rata basis on Straight Line Method at the rate prescribed under schedule II to the Companies Act, 2013 with the exception of the following:

(i) Assets costing Rs. 5000/- or less are fully depreciated in the year of purchased

e) Inventories

Inventories are valued as follows:

(i) Raw Materials, Stores and Spares: at cost

(ii) Work in Progress: at lower of estimated cost or net realizable value

(iii) Waste Materials, Damaged goods, Scrap: if any at net estimated realizable value (iii) Finished Goods: at lower of cost or market value.

f) Investments

Investments that are intended to be held for more than a year, from the date of acquisition are classified as long term investment are carried at cost less any provision for permanent diminution in value. Investments other than long term investments are being current investments are valued at cost or fair market value whichever is lower.

g) Assets & Liabilities

The Assets and Liabilities are taken at the book value certified by the Management

h) Foreign Currency Transactions

Foreign Currency Transactions are normally recorded at the exchange rate, prevailing on the date of transaction or conversion, as the case may be.

i) Taxes on Income

(i) Current Tax: Provision for Income Tax is determined in accordance with the provisions of Income Tax Act, 1961.

(ii) Deferred Tax Provision: Deferred Tax is recognized on timing differences between the accounting income and the taxable income for the year, and quantified using the tax rates and laws enacted or substantively enacted on the Balance Sheet date.

Deferred Tax Assets are recognized and carried forward to the extent that there is a reasonable certainty that sufficient future taxable income will be available against which such Deferred Tax Assets can realized.

j) Miscellaneous Expenditure

Preliminary expenses / shares issue expenses etc. are not amortise during the year.

k) Use of Estimates

The Preparation of the Financial statements in conformity with the generally accepted accounting principles require the Management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenue and expenses and disclosure of contingent liabilities on the date of the financial statements. Actual results could differ from the estimates. Any revision to accounting estimates is recognised prospectively in current and future periods.

l) Previous year's figures

The Previous year's figures have been recast/restated, wherever necessary to confirm to current year classification.

m) Loans & advances

Advances recoverable in cash, kind or value to be received are primarily towards prepayments for value to be received and same has been confirmed by the management.

Sundry Debtors, Creditors, Loans & Advances and bank balances are stated as appear in the books of accounts in the ordinary course of business. The balances are un-confirmed and are subject to confirmation from the party/Bank.

Micro, Small and Medium Enterprises:-

There are no Micro, Small & Medium Enterprises in respect of whom the company's dues are outstanding for more than 45 days as at the balance sheet date