NEPC Textiles Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Sep 30, 2013

I) Shareholders holding more than 5%of the equity share capital (face value per share is 10/- each)

2013

Shareholder No.of Shares % Total Name held Face Value

Rajkumar 1664972 11.15 16649720

Tirupathi Kumar 1228786 8.23 12287860

Champa Devi 930376 6.23 9303760

Ritu Devi 1289645 8.63 12896450

2012

Shareholder No of Shares % Total Name held Face Value

Rajkumar 1664972 11.15 16649720

Tirupathi Kumar 1228786 8.23 12287860

Champa Devi 930376 6.23 9303760

Ritu Devi 1289645 8.63 12896450

ii) Basis of Accounting

a) The accounts are prepared on the basis of Historical Cost Convention and as a Going Concern in accordance with the generally accepted accounting principles and as per the provisions of the Companies Act, 1956.

b) The company follows Mercantile System of Accounting and recognises Income and Expenditure on accrual basis except the insurance claims and dividend Income on Investments, which is accounted for on receipt basis.

iii) Revenue Recognition policy

Sale of goods is recognised on shipment or despatch to customers.

iv) Fixed Assets and Depreciation

a) Fixed Assets are stated at cost of acquisition or construction including any cost attributable to bringing the assets to their working conditions for their intended use.

b) Depreciation is provided on Straight Line Method from the date of Purchase / put to use at the rates and in the manner prescribed under Schedule XIV of the Companies Act, 1956.No Depreciation is provided in the current year.

v) Investments

Investments are valued at cost of acquisition.

vi) Inventories

Inventories as taken valued and Certified by the Management are valued as under:

(i) Raw Material including consumables and stores & spares are valued at cost including duty on purchase and other costs incurred in bringing the inventories to the present location and condition. The cost is determined on the basis of FIFO method.

(ii) Work-in-progress and finished goods are valued at cost of materials and labour together with relevant factory overheads or net realizable value whichever is lower. The cost of work in progress is determined on the basis of weighted average method.

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Sep 30, 2012

I) Shareholders holding more than 5%of the equity share capital (face value per share is 10/- each)

ii) Basis of Accounting

a)The accounts are prepared on the basis of Historical Cost Convention and as a Going Concern in accordance with the generally accepted accounting principles and as per the provisions of the Companies Act, 1956.

b)The company follows Mercantile System of Accounting and recognises Income and Expenditure on accrual basis except the insurance claims and dividend Income on Investments, which is accounted for on receipt basis.

iii) Revenue Recognition policy

Sale of goods is recognised on shipment or despatch to customers.

iv) Fixed Assets and Depreciation

a)Fixed Assets are stated at cost of acquisition or construction including any cost attributable to bringing the assets to their working conditions for their intended use.

b)Depreciation is provided on Straight Line Method from the date of Purchase / put to use at the rates and in the manner prescribed under Schedule XIV of the Companies Act, 1956.

v) Investments

Investments are valued at cost of acquisition.

vi) Inventories

Inventories as taken valued and Certified by the Management are valued as under: (i) Raw Material including consumables and stores & spares are valued at cost including duty on purchase and other costs incurred in bringing the inventories to the present location and condition. The cost is determined on the basis of FIFO method.

(ii) Work-in-progress and finished goods are valued at cost of materials and labour together with relevant factory overheads or net realizable value whichever is lower. The cost of work in progress is determined on the basis of weighted average method.

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Sep 30, 2011

I) Basis of Accounting

a)The accounts are prepared on the basis of Historical Cost Convention and as a Going Concern in accordance with the generally accepted accounting principles and as per the provisions of the Companies Act, 1956.

b)The company follows Mercantile System of Accounting and recognises Income and Expenditure on . accrual basis except the insurance claims and dividend Income on Investments, which is accounted for on receipt basis.

ii) Revenue Recognition policy

Sale of goods is recognised on shipment or despatch to customers.

iii) Fixed Assets and Depreciation

a)Fixed Assets are stated at cost of acquisition or construction including any cost attributable to bringing the assets to their working conditions for their intended use.

b)Depreciation is provided on Straight Line Method from the date of Purchase / put to use at the rates and in the manner prescribed under Schedule XIV of the Companies Act, 1956.

c)Eventhough the company is facing labour unrest w.e.f 02-04-2008, the normal depreciation has been charged during the period.

iv) Investments

Investments are valued at cost of acquisition.

v) Inventories

Inventories as taken valued and Certified by the Management are valued as under:

(i) Raw Material including consumables and stores & spares are valued at cost including duty on purchase and other costs incurred in bringing the inventories to the present location and condition.

The cost is determined on the basis of FIFO method.

(ii) Work-in-progress and finished goods are valued at cost of materials and labour together with relevant factory overheads or net realizable value whichever is lower. The cost of work in progress is determined on the basis of weighted average method.

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Sep 30, 2010

I) Baste of Accounting

a)The accounts are prepared on the basis of Historical Cost Convention and as a Going Concern in accordance with the generally accepted accounting principles and as per the provisions of the Companies Act, 1956.

b)The company follows Mercantile System of Accounting and recognises Income and Expenditure on accrual basis except the insurance claims and dividend Income on Investments, which is accounted for on receipt basis.

ii) Revenue Recognition policy

Sale of goods is recognised on shipment or despatch to customers.

iii) Fixed Assets and Depreciation

a) Fixed Assets are stated at cost of acquisition or construction including any cost attributable to bringing the. assets to their working conditions for their intended use.

b) Depreciation is provided on Straight Line Method from the date of Purchase / put to use at the rates and in the manner prescribed under Schedule XIV of the Companies Act, 1956.

c) Eventhough the company Is facing labour unrest w.e.f 02-04-2008, the normal depreciation has been charged during the period.

iv) Investments

Investments are valued at cost of acquisition.

v) Inventories

Inventories as taken valued and Certified by the Management are valued as under.

(i) Raw Material including consumables and stores & spares are valued at cost including duty on purchase and other costs incurred in bringing the inventories to the present location and condition. The cost is determined on the basis of FIFO method.

(ii) Work-in-progress and finished goods are valued at cost of materials and labour together with relevant factory overheads or net realizable value whichever is lower. The cost of work In progress is determined on the basis of weighted average method.

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Sep 30, 2009

I) Basis of Accounting

a)The accounts are prepared on the basis of Historical Cost Convention and as a Going Concern in accordance with the generally accepted accounting principles and as per the provisions of the Companies Act, 1956.

"b)The company follows Mercantile System of Accounting and recognises Income and Expenditure on accrual basis except the insurance claims and dividend Income on Investments, which is accounted for on receipt basis.

ii) Revenue Recognition policy

Sale of goods is recognised on shipment or dispatch to customers tin Fixed Assets and Depreciation

a)Fixed Assets are stated at cost of acquisition or construction including any cost attributable to bringing the assets to their working conditions for their intended use.

b)Depreciation is provided on Straight Line Method from the date of Purchase / put to use at the rates and in the manner prescribed under Schedule XIV of the Companies Act, 1956.

c)Even though the company is facing labour unrest w.e.f 02-04-2008, the normal depreciation has been charged during the period.

iii) Investments

Investments are valued at cost of acquisition.

iv) Inventories

Inventories as taken valued and Certified by the Management are valued as under:

(i) Raw Material including consumables and stores & spares are valued at cost including duty on purchase and other costs incurred in bringing the inventories to the present location and condition.

The cost is determined on the basis of FIFO method.

(ii) Work-in-progress and finished goods are valued at cost of materials and labour together with relevant factory overheads or net realizable value whichever is lower. The cost of work in progress is determined on the basis of weighted average method.

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Sep 30, 2008

I) Basis of Accounting

a)The accounts are prepared on the basis of Historical Cost Convention and as a Going Concern In accordance with the generally accepted accounting principles and as per the provisions of the Companies Act, 1956.

b)The company follows Mercantile System of Accounting and recognises Income and Expenditure on accrual basis except the insurance claims and dividend Income on Investments, which is accounted for on receipt basis.

ii) Revenue Recognition policy

Sale of goods is recognised on shipment or dispatch to customers.

iii) Fixed Assets and Depreciation ,

a)Fixed Assets are stated at cost of acquisition or construction including any cost attributable to bringing the assets to their working conditions for their intended use.

b)Depreciation is provided on Straight Line Method from the date of Purchase / put to use at the rates and in the manner prescribed under Schedule XIV of the Companies Act, 1S56.

c)Even though the company is under lockout w.e.f 02-4-2008, the normal depreciation has been charged during the period.

iv) Investments

Investments are valued at cost of acquisition.

v) Inventories

Inventories as taken valued and Certified by the Management are valued as under (I) Raw Material including consumables and stores & spares are valued at cost Including duty on purchase and other costs incurred in bringing the inventories to the present location and condition. The cost is determined on the basis of FIFO method. *

(ii) Work-in-progress and finished goods are valued at cost of materials and labor together with relevant factory overheads or net realizable value whichever is lower. The cost of work In progress Is determined on the basis of weighted average method.