| Note : 1
Basis of preparation
The financial statements are prepared under the historical cost
convention on the accrual basis of accounting, in accordance with the
Indian Generally Accepted Accounting Principles (GAAP) and company
with the accounting standards, as prescribed by the companies
(Accounting Standards) Rules, 2006, and provisions of the Companies
Act, 1956, to the extent applicable, as adopted consistently by the
company. The Financial Statements have been prepared in Indian rupees.
Note : 2
The Financial statements for the year ended March 31,2015 had been
prepared as per the then applicable, pre-revised schedules VI to the
companies Act, 1956. Consequent to the notification of Revised
Schedule VI under the Companies Act, 1956, the financial statements
for the year ended 31 March, 2015 are prepared as per Revised Schedule
VI. Accordingly, the previous year figure have also been reclassified
to confirm to this year's classification. Such reclassification of
previous year figure does not impact recognition and measurement
principles followed for preparation of financial statements.
The company has only one class of equity shares having per value of
Rs. 1/- per share. Each shareholder is entitled to one vote per share
with a right to receive per share dividend declared by the company. In
the event of liquidation, the equity shareholders are entitled to
receive remaining assets of the company (after distribution of all
preferential amounts, if any) in the proportion of equity shares held
by the shareholders.
No provision for Income Tax has been made in view of carried forward
losses.
Note : 3
Contingent liabilities for uncompleted contract of capital expenditure
not provided for Rs. NIL
Note : 4
The Company has closed down in business operations. There are very few
employees. Therefore no Provision of Gratuity is made in the accounts.
Note : 5
Corresponding figures of previous year are rearranged / regrouped
wherever found necessary.
Note : 6
Balances are subject to confirmation.
In the opinion ofthe board, Current Assets, Loans & Advances are
Approximately at the value stated if realised in the ordinary course
of business. The provisions for all known liabilities are made in
accounts and the same are adequate and not in excess of amounts
reasonably necessary.
Note : 7
RELATED PARTY DISCLOSURES
Related party disclosures as required under Accounting Standard on "
Related Party Disclosures" issued by the Institute of Chartered
Accountants of India are given below :
The are no transactions with related parties.
Note : 8
During the year the company has not carried out any business activity.
Therefore Accounting standard 17 on segment Reporting is not
applicable.
Note : 9
The Company has unabsorbed depreciation and carried forward losses
under the Tax Laws. Also during the current year there is substantial
unabsorbed depreciation and business loss. In absence of virtual
certainty of sufficient future taxable income, deferred tax asset /
liability has not been recognised by way of prudence in accordance
with AS-22-"Accounting for Taxes on Income" issued by the
Institute of Chartered Accountants of India.
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