1.1 Basis of accounting and preperation of financial statements
 
 The financial statements of the Company have been prepared in
 accordance with the Generally Accepted Accounting Principles in India
 (Indian GAAP) to comply with the Accounting Standards notified under
 the Companies (Accounting Standards) Rules 2006 (as amended) and the
 relevant provision of the Companies Act 1956.
 
 1.2 Use of estimates
 
 The preparation of the financial statements is conformity with Indian
 GAAP requires the management to make estimates and assumption
 considered in the reported amount of assets and liabilities (including
 contingent liabilities) and the reported income and expenses during the
 year. The management belives that the estimates used in preparation of
 the financial statements are prudent and reasonable. Future results
 could oifter due to these estimates and the differences between the
 actual and the estimates are recognized in the periods in which the
 results are known / materialize.
 
 1.3 inventories
 
 Inventories of stores, beverages & eatables are valued at cost. Cost is
 arrived at by following Weighted Average method of accounting.
 
 1.4 Cash and Cash equivalents (for purpose of Cash Flow Statement)
 
 Cash comprises Cash on hand and demand deposits with banks. Cash
 equivalents are short-term balances (with an original maturity of three
 months or less from the date of acquisition), highly liquid investments
 that are readily convertible into known amounts of cash and which are
 subject to insignificant risk of change in Value.
 
 1.5 Cash fiow statement
 
 Cash flows are reported using the indirect method, whereby profit /
 (Loss) before extraordinary items and tax is adjusted for the effects
 of transactions of non-cash nature and any deferrals or accruals of
 past or future cash receipts or payments. The cash flows from
 operating, investing and financing activities of the Company are
 segregated based on the available information.
 
 1.6 Depreciation and amortization
 
 Depreciation on Fixed assets is provided on the Written down Value
 Method (W.D.V.), at the rates specified in Schedule XIV to the
 Companies Act, 1956, as amended up to the date of Balance Sheet.
 
 Depreciation on Fixed Assets, for which no rates have been specified in
 Schedule XIV to the Companies Act, 1956, is provided on the Written
 down Value Method at the rates at which the assets are depreciated over
 its estimated useful life.
 
 Depreciation is Provided on pro-rata basis from the month in which
 assets have been put to use and up to the date on which assets have
 been disposed, discarded or sold.
 
 1.7 Revenue recognition
 
 Sale/ Income from.Operations. .
 
 Parks Income is accounted on accrual basis i.e date of visit of park is
 the date of reckoning the income however in the case of the Membership
 for a specified period, the income has been treated as accrued
 proportionateley on the basis of span nf period of membership. Also in
 the case of life membership deposits, the income is recognized by
 spreading deposit over a period of ten years.
 
 Income from the services
 
 Revenue / Income and Cost I Expenditure a*e generally accounted on
 accrual basis as they are earned or incurred except employee''s
 retremen: benefits.  are accounted as and when actually paid.
 
 1.8 Tangible fixed assets
 
 Fixed Assets are stated at cost of acquisition less accumulated
 depreciation. Cost includes pre-Operation expenses net of revenue The
 Fixed Assets which are not yet completed are treated as Capital Work
 -in- Progress and no depreciation >s provided for the same,
 
 The assets having average life of aoout two yeas such as, Restaurant
 Crockery etc. are being clubbed under Miscellaneous Assets and have
 been written off after a period of two years.
 
 1.9 Amortization of Miscellaneous Expenses
 
 The preliminary expenses and issue expenses are amortized during the
 previous year. Expenses towards intensive advertisement campaign as
 well as sales promotion and foreign traveling, the benefit of which are
 expected to accrue over a numbe: of years are treated deferred revenue
 expenditure. Appropriate amounts are being written off every year.
 
 Advertisement & Other traveling & office expeprfes relating to the
 Periodic Membership Schemes whose income have been treated as accrued
 on proportionate basis are treated as deferred revenue expenditure and
 appropriate amounts are written off every year, over the period of such
 Schemes.
 
 1.10 Taxes on.Income
 
 Current tax is the amount of tax payable on the taxable income for the
 year as determined in accordance with the provisions of the income
 Act. 1961
 
 Minimum Alternate lax (MAT) paiu m accordance witn me tax laws, which
 gives future economics benefits in the form of adjustment io future
 income tax liability, is considered as an asset if there is convincing
 evidence that the Company will pay norma! income tax Accordingly, MAT
 is recognized as an asset in the Balance Sheet when it is probaoie that
 f.iu. e economic benefit associated with it will flow to the Company.
 
 Deferred tax is recognized on timing differences being the differences
 between the taxable income and the accounting income that originate in
 one penod and are capable of reversal in one or more subsequent
 periods. Deferred tax is measured jsmg use tax rates and the tax iaws
 enacted or substantially enacted as at the reporting date. Deferred tax
 is liabilities are recognized for all timing differences. Deferred tax
 assets in respect of unabsorbed depreciation and carry forward of
 losses are recognized only if there is virtual certainty that there
 will be sufficient future taxable income available to realise such
 assets. Deferred tax assets are recognized for timing differences of
 other items only to the extent that reasonable certainty exists that
 sufficient future taxable income will be available against which these
 can be realised. Deferred tax assets and liabilities are offset if such
 items relate to taxes on income levied by the same governing tax iaws
 and the Company has a legally enforceable right for such set off.
 Deferred tax assets are reviewed at each Balance Sheet date for their
 reafsabu.
 
 1.11 Other Disclosure
 
 a Figures of Previous year have been regrouped I recast wherever
 necessary to make them comparable with the figures of the Current year.
 
 b The company has not provided for the gratuity liability as well as
 employees'' other retirement benefits though it should have provided for
 the same in line with the accounting standard made mandatory.
 
 c Since the company is following cash method of accounting in this
 respect, the liability in respect of gratuity is not being worked out
 by it.
 
 d No provision has been made for penalty and interest which may levied
 upon the Company for non deduction I short deduction of TDS and delay /
 default in remitting money to various authorities because the amount is
 not ascertainable as on the date of Balance Sheet. The same shall be
 accounted for as and when levied by such authorities.
 
 f Balance due to or due from parties/ banks from whom confirmations are
 not received, are subject to adjustment on receipt of necessary
 confirmations.