(1) Accounting Convention :
The accounts are prepared on accrual basis under the historical cost
convention in accordance with the applicable accounting standards and
relevant provisions of the Companies Act, 1956.
(2) Fixed Assets :
All fixed assets are stated at cost less depreciation.
(3) Depreciation :
During the year no depreciation is provided as there is no
(4) Sales :
During the year there is Trading Sales and no Manufacturing Sales.
(5) Expenses and Income :
All expenses and incomes are accounted for on mercantile basis.
(6) Investments :
Investments are valued at cost.
(7) Inventories :
Inventories are valued at cost.
Finished Goods are valued at lower cost or realizable value.