| a. The accounts have been prepared using historical cost Convention in
accordance with Generally Accepted Accounting Principles and provisions
of the Companies Act, 1956 as applicable to the Company.
b. The company is not having manufacturing activity since 2001. Since
this is the only activity it shows the impact / effect on the "Going
Concern Concept".
c. The company has not provided the interest on secured loans and thus
not followed the "accrual concepts".
d. All fixed Assets are stated at cost less depreciation.
e. Depreciation:
i) Depreciation is provided for on straight line method on pro-rata
basis at the rates specified in Schedule XIV of the Companies Act, 1956
on all the assets except Rose Plants.
ii) The Company has not provided Depreciation on Vehicle since the same
is not kept i in use during the year. i
iii) The Company could not continue the operations in the Firm yard
since December 2001 due to interference of Main Financiers M/s KSIIDC,
Bangalore in the event of Loans extended. It resulted to complete
damage to all Rose Plants and hence the value of Rose Plants as on
01.04.08 is written off during the previous year 2008-09.
f As the premises of operations are under the control of KSIIDC,
Bangalore, there is no possibility of continuation of business
Operations till the loans are cleared. Hence loans has been provided
for accured basis.
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