Bisleri Gujarat

1.  Inventories are valued at the lower of cost or net realisable value
 except for a stock of Raw Material, Packing Material, Stores & Spares
 which are valued at cost.
 
 2.  No provision for Income Tax has been made in view of carried
 forward losses.
 
 3.  Contingent liabilities for uncompleted contract of capital
 expenditure not provided for Rs, Nil
 
 4.  Corresponding figures of previous year and / or rearranged wherever
 found necessary
 
 5.  Balances are subject to confirmation.
 
 6.  In the opinion of the board, Current Assets, Loans & Advances are
 Approximately of the value stated if realised in the ordinary course of
 business. The provisions for all known liabilities are made in accounts
 and the same are adequate and not in excess of amounts reasonably
 necessary.
 
 7.  Since the Company is engaged in the business of Manufacturing
 Mineral water only and selling within the state of Gujarat the
 Accounting Standard 17 on Segment Repoting is not applicable.
 
 8. The Company has unabsorbed depreciation and carried forward losses
 under the Tax Laws. Also during the current year there is substantial
 unabsorbed depreciation and business loss. In absence of virtual
 certainity of sufficient future taxable income, deferred tax
 asset/liabilitis has not been recognised by way of prudence in
 accordance with AS-22-Accounting for Taxes on Income issued by the
 Institute of Chartered Accountants of India.