Mar 31, 2015
A. Changes in accounting policy
During the year ended 31st March 2015, the revised Schedule III
notified under the Companies Act, 2013, has become applicable to the
company, for preparation and presentation of its financial statements.
The adoption of revised Schedule III does not impact recognition and
measurement principles followed for preparation of financial
statements. However, it only impact on the presentation and disclosures
made in the financial statements. The company has also reclassified
previous year's figure in accordance with the requirements applicable
for the current year.
b. Revenue recognition
Having regard to the size, nature and level of operation of the
business, the company is applying accrual basis of accounting for
recognition of income earned and expenses incurred in the normal course
of business.
c. Fixed assets:
Fixed Assets are valued at cost of purchase and/ or construction as
increased by necessary expenditure incurred to make them ready for use
in the business.
d. Inventories
Inventories include investments in shares of other companies. The
Company classifies such investments as inventory and valuation of them
has been made at lower of cost or Market Value. However, unquoted
investments are stated at cost.
e. Depreciation
The company didn't charge depreciation on Office Premises as same is
not put fixed assets on straight line method as per rates prescribed
under Companies Act, 2013 on pro- rata basis. However, no Depreciation
is being charged on asset depreciated upto 95% of its historical cost.
f. Taxes on income
Current taxes on income have been provided by the Company in accordance
with the relevant provisions of the Income Tax Act, 1961. Deferred
Taxes has been recognised on timing differences between accounting
income and taxable income subject to consideration of prudence.
Mar 31, 2014
1. Basis of preparation
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles (Indian GAAP).
The company has prepared these financial statements to comply in all
material respects with the accounting standards notified under
Companies (Accounting Standards) Rules, 2006 (as amended from time to
time) and the relevant provisions of the Companies Act, 1956.
The financial statements have been prepared on accrual basis and under
the historical cost convention. The accounting policies not
specifically referred, are consistently applied from the past
accounting periods.
2. Summary of significant accounting policies
a. Changes in accounting policy
During the year ended 31st March 2014, the revised Schedule VI notified
under the Companies Act, 1956, has become applicable to the company,
for preparation and presentation of its financial statements. The
adoption of revised Schedule VI does not impact recognition and
measurement principles followed for preparation of financial
statements. However, it only impact on the presentation and disclosures
made in the financial statements. The company has also reclassified
previous year''s figure in accordance with the requirements applicable
for the current year.
b. Revenue recognition
Having regard to the size, nature and level of operation of the
business, the company is applying accrual basis of accounting for
recognition of income earned and expenses incurred In the normal course
of business.
c. Fixed assets:
Fixed Assets are valued at cost of purchase and/or construction as
increased by necessary expenditure incurred to make them ready for use
in the business.
d. Inventories
Inventories include investments in shares of other companies. The
Company classifies such investments as inventory and valuation of them
has been made at lower of cost or Market Value. However, unquoted
investments are stated at cost.
e. Depreciation
The company didn''t charge depreciation on Office Premises as same is
not put fixed assets on straight line method as per rates prescribed
under Schedule XIV of the Companies Act, 1956 on pro-rata basis.
However, no Depreciation is being charged on asset depreciated upto 95%
of its historical cost.
f. Taxes on income
Current taxes on Income have been provided by the Company in accordance
with the relevant provisions of the Income Tax Act, 1961. Deferred
Taxes has been recognised on timing differences between accounting
income and taxable income subject to consideration of prudence.
Mar 31, 2013
1.1 Corporate Information
Enterprises is incorporated under the Companies Act,1956, on 18th
August,1983 as a Public Limited Company. Its authorized share capital
is Rs.1.25 crore. Registered office of the company has been changed
from 72 Janpath. New Delhi-110001 to 123, Ground Floor, Vinoba Puri
Lajpat Nagar, New Delhi-110024 w.e.f. 10.05.2013. Company is carrying on
the business as investment company for purchase and sale of shares,
debentures, bonds, securities and also the business of consultancy
service for staff training. Staff Personal Grooming etc.
1.2 Management is planning to arrange additional funds for repayment of
its liabilities. Therefore going concern assumption seems to be
unaffected.
Note 2 Significant Accounting Policies
2.1 The financial statements are prepared under the historical cost
convention in accordance with the generally accepted accounting
principles in India including the applicable Accounting standards
Issued pursuant to the companies (Accounting standards) Rules, 2006.AII
Income and Expenditures having a material bearing on the financial
statements recognized on an accrual basis.
2.2 Investments are stated after considering permanent diminution in
their value.
2.3 The employees benefits for Leave Encashment etc. are accounted for
in the year they are incurred.
2 4 income taxes are accrued in the same period that the related
revenue and expenses arise. A provision is made for income tax annually
based on the tax liability computed, after considering tax allowances
and exemptions. Provisions are recorded when it is estimated that a
liability due to disallowances or other matters is probable. Minimum
Alternate Tax (MAT) paid in accordance with the tax laws, which gives
rise to future economic benefits in the form of tax credit against
future income tax liability, is recognized as an asset in the Balance
Sheet if there is convincing evidence that the Company will pay normal
tax and the resultant asset can be measured reliably.
2.5 The Basic Earning Per Share (BEPS) is calculated by dividing the
Net profit after Tax for the year Attributable to the equity
Shareholders of the Company by the Weighted average number of Equity
Shares outstanding during the Year.
The Diluted Earning Per Share (DEPS) is calculated by dividing the Net
profit after Tax for the year Attributable to the equity Shareholders
of the Company by the Weighted average number of shares determined by
assuming conversion on exercise of conversion rights for all Potential
Dilutive Securities
2.6 The Cash Flow Statement is prepared by the Indirect Method set out
in the "Accounting Standard 3 on "Cash Flow Statements" and presents
the Cash Flows from Operating, Investing and Financing activities of
the Company.
2.7 Accounting policies not specifically referred to are in consonance
with the generally accepted accounting practices.
Mar 31, 2012
1.1 Corporate Information
Enterprises is incorporated under the Companies Act,1956, on 18th
August,1983 as a Public Limited Company. Its authorized share capital
is Rs.1.25 crore. Registered office of the company has been changed
from 72 Janpath. New Delhi-110001 to 123, Ground Floor, Vinoba Puri
Lajpat Nagar, New Delhi-110024 w.e.f. 10.05.2013. Company is carrying on
the business as investment company for purchase and sale of shares,
debentures, bonds, securities and also the business of consultancy
service for staff training. Staff Personal Grooming etc.
1.2 Management is planning to arrange additional funds for repayment of
its liabilities. Therefore going concern assumption seems to be
unaffected.
Note 2 Significant Accounting Policies
2.1 These account s have been provided on "Historical Cost" basis.
2.2 The Company generally follows "accrual concept" of accounting in
the preparation of the accounts.
2.3 Investments are stated after considering permanent diminution in
their value.
2.4 The employees benefits for Leave Encashment etc. are accounted for
in the year they are incurred.
2.5 income taxes are accrued in the same period that the related
revenue and expenses arise. A provision is made for income tax annually
based on the tax liability computed, after considering tax allowances
and exemptions. Provisions are recorded when it is estimated that a
liability due to disallowances or other matters is probable. Minimum
Alternate Tax (MAT) paid in accordance with the tax laws, which gives
rise to future economic benefits in the form of tax credit against
future income tax liability, is recognized as an asset in the Balance
Sheet if there is convincing evidence that the Company will pay normal
tax and the resultant asset can be measured reliably.
2.6 Accounting policies not specifically referred to are in consonance
with the generally accepted accounting practices
Mar 31, 2011
1, These accounts have been prepared on " Historical cost" basis.
2 The company generally follows " accrual concept " of accounting in
the preparation of the accounts.
3 Investments are stated at their original cost of acquisition.
4 Accounting policies not specifically referred to are in consonance
with the generally accepted accounting practices
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