1. Accounting Convention & Revenue Recognition:
The accounts have been prepared in accordance with historical cost
convention and following mercantile basis of accounting except bonus,
which is accounted for on cash basis. Income & Expenditure have been
accounted for on mercantile basis.
Long-term investments are stated at Cost. In case there is diminution
in the value of Investments the same has not been accounted for.
(i) Raw Material: At cost.
(ii) Work-in-progress : At estimated cost.
(iii) Finished Goods : At cost or market price whichever is lower.
4. Fixed Assets:
1) Fixed Assets are stated at cost of acquisition including freight,
taxes, duties and other incidental expenses related to acquisition and
2) Depreciation on Fixed Assets is provided in accordance with the
rates specified in Schedule XIV of the Companies Act, 1956 as amended
on written down value method.
5. The Company has performed some Agricultural Business during the
year of the nature of Bio-Tech and Agricultural Products.
Sales is accounted for on raising of Bills.
7. Amortization of Miscellaneous Expenditure:
Preliminary and Share Issue expenses are amortised over a period of Ten