1.1 ACCOUNTING CONVENTION
The Financial statements are prepared on going concern concept under
historical cost convention on accrual basis and are in accordance with
the applicable accounting standard issued by the Institute of Chartered
Accounts of Indian notified under section 211 (3C) and the other
relevant provisions of the Companies Act.1956.
1.2 FIXED ASSETS
Fixed assets are stated at cost less accumulated depreciation. Cost
comprises the purchase price or construction cost including any
attributable cost of bringing the assets to its working condition for
Depreciation is provided on straight line method as per schedule XIV of
the companies Act 1956.on prorate basis.
1.4 STOCK IN TRADE
1. Share ,debentures, units & Securities are accounted under Stock in
trade on trade dates.
2. The cost of stock in trade includes brokerage but does not include
stamp duty which was charged to revenue.
1.5 VALUATION OF STOCK IN TRADE
Stock has been valued at cost instead of cost or market value which
ever is lower because the company is doing business of shares &
securities as broker of Stock Exchange.
The Investments are long term i.e. non-current investment and are valued
at cost since the company is doing business of shares & securities in
share market therefore no provision is being made for diminution in the
(a) In respect of contracts relating to shares without taking or giving
deliveries profit or Losses are accounted for on squaring updates.
(b) Income from dealing in shares / Securities is recognized on the
basis of matched contract of similar deliveries dates for purchase &
sales entered during the year.
(c) Dividend on investment in shares & Securities are accounted for on
All expenses are accounted on accrual basis.
1.9. CONTINGENTLIABILITY 2011-2012 2010-2011
To the extent known NIL NIL