(1) Basis of preparation of financial statements: -
 
 The financial statements are prepared under the historical cost
 convention, on the accrual basis of accounting in accordance with the
 Generally Accepted Accounting Principles (GAAP) in India and comply
 with the mandatory accounting standards as notified under the Companies
 (Accounting Standards) Rules, 2006, to the extent applicable and in
 accordance with the provisions of the Companies Act, 1956, as adopted
 consistently by the Company.
 
 (2) Use of estimates
 
 The preparation of financial statements in conformity with GAAP
 requires management to make estimates and assumptions that affect the
 reported amounts of assets and liabilities, disclosure of contingent
 liabilities on the date of the financial statements and the reported
 amounts of revenues and expenses during the reporting period. Although
 these estimates are based upon management''s best knowledge of current
 events and actions, actual results could differ from these estimates.
 
 (3) Revenue Recognition: -
 
 Revenue is recognized to the extent that it is probable that the
 economic benefits will flow to the Company and the revenue can be
 reliably measured.
 
 Sale of Goods
 
 Revenue from Sale of Goods is recognized when the significant risk and
 reward of ownership of goods are transferred to the customer and is
 stated net of sales tax and sales return.
 
 Interest Revenue is recognized on accrual basis.
 
 Dividend
 
 Revenue is recognized when the payment is received.
 
 (4) Fixed Assets: -
 
 Fixed Assets are stated at the original cost inclusive of inward
 freight, incidental expenses related to acquisition and related
 pre-operational expenses.
 
 5) Depreciation: - Depreciation has been provided on Written Down Value
 method at the rates prescribed in Schedule XIV to the Companies Act,
 1956. All assets costing Rs.5000 or below are depreciated in full by
 way of a one time depreciation charge.  However no depreciation has
 been provided on Master Pieces of Gold and Silver, Library Books
 andProps. The Company''s has not provided depreciation on the Web Portal
 - Jewelry YTT, as it was not in operation during the year. The Company
 will provide the depreciation on the Web Portal - Jewelry YTT, as and
 when it becomes operational.
 
 Leasehold Improvements are amortized over the period of Lease.
 
 (6) Inventories: -Method of Valuation
 
 (a) Raw Material - at cost
 
 (b) Finished Goods - at lower of cost or estimated realizable value.
 
 (7) Provision for Income Taxi- Pro vision for taxation has been
 ascertained as per the applicable provisions of the Income Tax Act,
 1961.
 
 (8) Deferred Taxation: -
 
 Deferred tax is recognized, subject to the consideration of prudence on
 timing differences, being the difference between taxable Incomes and
 accounting income that originate in one period and are capable of
 reversal in one or more subsequent years.  
 
 (9) Borrowing Costs
 
 Borrowing costs that are attributable to the acquisition of assets are
 capitalized as part of the cost of such Assets. All other borrowing
 costs are recognized as an expense in the period in which they are
 incurred.
 
 (10) Investments
 
 Investments are classified into Current and Long Term investments.
 Current investments are stated at lower of cost and fair value. Long
 term Investments are stated at cost.
 
 (11) Retirement Benefits
 
 Employees'' benefits of short term nature are recognized as expenses as
 and when it accrues. Long term employee benefits (e.g. long-service
 leave) and post employment benefits (e.g. Gratuity) are recognized as
 expenses based on actuarial valuation at the end which takes into
 account actuarial gains and losses.
 
 (12) Impairment of Assets:-
 
 The carrying amounts of assets are reviewed at each balance sheet date
 if there is any indication of impairment based on internal/external
 factors. An asset is impaired when the carrying amount of the asset
 exceeds the recoverable amount. An impairment loss is charged to the
 Profit and Loss Account in the year in which an asset is identified as
 impaired. An impairment loss recognized in prior accounting period is
 reversed if there has been change in the estimate of the recoverable
 amount.