| 1 Basis of Accounting
The financial statements are prepared under the historical cost
convention on the concept of a going concern, in accordance with the
Generally Accepted The financial statements are mandatory Accounting
Standards as not,fled under the Companies (Accounting Standards) Rules,
2006 and as per the provisons and presentational requirements of the
Companies Act, 1956.
2 Changes in Accounting Policies
The accounting policies adopted consistent with those of previous
flnancial year. The management assures that there has been no change in
accounting policies as compared to that of previous year which would
have any significant effect on these financials.
3 Recognition of income
Sales represents invoiced Value of goods Sold. Other Income is
recognised and accounted for on accrual basis unless otherwise stated.
4 Tangible Fixed Assets
Fixed assets are stated at cost less accumulated depreciation and
impairment losses, if any. Cos. comprises the purchase price and any
period cost of bringing the assets to its working condition for its
intended use Borrovnng costs relating to acquisition of fixed assess
which take substantia, penod of time .toget ready for its intended use
are also included to the extent they relate to the penod till such
assets are ready to be put to use
4 (A)- Depreciation on tangible fixed assets
Depreciation has been provided on Tangible Assets as per AS-6
5 Taxes on Income
Current tax is determined and provided for on the amount of taxable
income at the applicable rates for the relevant financial year Deferred
Tax Assets and Liabilities (DTA/ DTL) are recognised subject to
consideration of prudence, on timing differences, being the difference
between taxable income and accounting income tharong^e in one period
and is capabie of reversal in one or more subsequent periods.The DTA ,s
recognised only to the extent mat there is reasonable certainty of
sufficient future profits against which such DTA can be realised.
6 Contingent Liability
The contingent liability if any. are disclosed in the Notes to
Accounts. Provision is made fit the accounts, if it becomes probable
that there will be outflow of resouces for settling the obligation.
7 Events occuring ofter the balance sheet date
Ajustments to assets and liabilities are made for events occurring
after the balance sheet date to provide additional information
materially affecting the determination of the amounts of assets or
liabilities relating to conditions existing at the balance sheet date.
8 Earnings Per Share
Basic earings per share are calculated by dividing the ne, profit or
loss for the year/ period attributable to equity shareholders by the
weighted average number of equity shares outstanding during the year/
period.
9 Use of estimates
The preparation of financial statemenst in conformity with generally
accepted accounting principles,requires management to make estimates and
assumptions that affect the reported amounts of asets and liabilites and
the disclosure of contingent assets and liabilites on the financial
statements and the results of operations during the reporting year.
Actual reslults could differ from those estimates. Any revision to
accounting estimatesin recognised prospectively in current and future
periods.
10 Foreign Currency Trasaction
curreiencies are normally recorded a, the exchange rate prevailing at
the time of the transaction Monetary items denominated in foreign
currencies at the year end are transited the rate ruling at the year
end rate.
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