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Oswal Yarns
BSE: 514460|ISIN: INE670H01017|SECTOR: Textiles - Processing
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« Mar 12
Notes to Accounts Year End : Mar '13
Inventory is taken and valued as certified by the management.  Mode of
 valuation:
 
 Raw materials, work-in-progress, finished goods, consumables have been
 valued at lower of cost and net realizable value. The cost in respect
 of various items of inventory is computed as under :
 
 Raw materials at actual cost plus direct expenses incurred to bring the
 stock at its present position and location excluding VAT.
 
 Work-in-progress at raw material cost plus conversion cost depending
 upon the stage of completion.
 
 Finished goods at raw material cost plus conversion cost incurred to
 bring the goods up to their present condition and location.
 
 Consumables at actual cost plus direct expenses incurred to bring the
 stock at its present position and location excluding VAT.
 
 Waste has been valued at net realizable value.
 
 Note No. 1
 
 Segment Reporting:
 
 The company''s business predominantly comprises of only one segment i.e.
 manufacturing and trading of hosiery yarns/ cloth, therefore there is
 no separate reportable segment as required by AS-17 on segment
 reporting.
 
 Note No. 2
 
 Balances of various parties are subject to confirmation. However, in
 the opinion of the Board of Directors, all the Current Assets, Loans &
 Advances have a value on realisation in the ordinary course of business
 at least equal to the amount at which they are stated, except as
 expressly stated otherwise.
 
 Note No. 3
 
 Deferred Tax
 
 As a matter of prudence, deferred tax assets amounting to Rs. 3.61 Lacs
 (Previous year Rs. 3.64 Lacs) onaccount of timing difference in
 depreciation has not been recognised in accounts.
 
 Note No. 4
 
 Previous year figures have been grouped or regrouped wherever necessary
 to make the figures comparable.
 
 Note No. 5
 
 RELATED PARTY DISCLOSURES
 
 As per Accounting Standard 18, the disclosures of transactions with the
 related parties are given below:
 
 1.  List of Related Parties where controls exists and related parties
 with whom transactions have taken place:
 
 Nature of Relation
 
 KEY MANAGEMENT PERSONNAL
 
 Sh. Tej Paul Oswal
 
 Sh. Bharatt Oswall
Source : Dion Global Solutions Limited
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