I. ACCOUNTING CONVENTION :
The financial statement is prepared under the historical cost
convention and follows the mercantile system of accounting and
recognizes income and expenditure on the accrual basis except those
with significant uncertainties. Sales & Purchase is accounted exclusive
of excise duty.
II. FIXED ASSETS :
There Fixed assets are stand at cost of acquisition inclusive of
freight, duties, taxes, and inclusive of expenses.
III. DEPRECIATION :
Depreciation on fixed assets is provided on Written Down Value Method
at the rate and in the manner prescribed in Schedule XIV of the
Companies Act, 1956.
IV. INVENTORIES :
There is no Closing Stock at the year end. In closing Stocks include
shares and securities is valued at cost or market price whichever is
lower. The stock of Shares and securities is based on the intention of
management and other relevant circumstances.
V. INVESTMENT :
All the Investment are Long Term Investment which is stated at cost.
VI. MISCELLANOUS EXPENSES :
There is no any Preliminary Expenditures at the end of the year.
VII. CONTINGENT LIABILITIES :
No Provision is made for liabilities, which are contingent in nature
but, if material, the same all disclosed by way notes to the accounts.