SIGNIFICANT ACCOUNTING POLICIES AND NOTES ON ACCOUNTS

SIGNIFICANT ACCOUNTING POLICIES

1. BASIS OF brPARATION:

The financial statements of the Company have been brpared in accordance with generally accepted accounting principles in India (Indian GAAP).These financial statements have been brpared to comply in all material respects with the Accounting Standards notified by Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 2013. The financial statements have been brpared under the historical cost convention on an accrual basis and going concern basis. The accounting policies have been consistently applied by the company are consistent with those used in the brvious year.

2. USE OF ESTIMATES:

The brparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period. Although these estimates are based upon management's best knowledge of current events and actions, actual results could differ from these estimates.

3. INVENTORIES :

I. Raw Material, Stores & Spares & other trading products are valued at cost determined on FIFO basis .

II. Finished goods are valued at cost or net realizable value whichever is lower.

3. FIXED ASSETS AND DEbrCIATION

i) Fixed assets are stated at historical cost of acquisition and installation.

ii) Debrciation is provided on all debrciable assets on straight-line basis at the rates and in the manner brscribed in Schedule II of the Companies Act ,2013 . Debrciation on addition / deletion is charged on pro rata basis.

iii) Consequent to following the new provisions as stated in schedule II , necessary adjustment entries have been made in the books to retain 5% residual value of original cost.

4. RETIREMENT BENEFITS :

i) The Company's contribution to recognized provident fund and employee's state insurance contribution is charged to revenue.

ii) Provision for gratuity liability has been made .

5. CASH FLOW STATEMENT

Cash flow statement has been brpared under indirect method .

6. TAXATION

Current Tax is determined as per the current tax provisions applicable for Income Tax. Deferred tax is recognized subject to the consideration of prudence in respect of deferred tax assets/liabilities on timing difference being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent years.

7. IMPAIRMENT :

The management assesses, using external and internal recourses whether there is an indication that any asset may be impaired If an asset is impaired ,the company recognizes an impairment loss as excess of the carrying amount of the asset over recoverable amount.

OTHER DISCLOSURE

1 Previous year's figures have been regrouped and rearranged where ever considered necessary to make them comparable and in lines with the requirement of brsentation. Figures are rounded off to nearest rupee.

2. Managerial Remuneration: NIL

3. Balances of Sundry debtors, creditors and advances are subject to confirmation & reconciliation.

4. Previous year's figures have been regrouped and rearranged wherever considered to make them comparable and in lines with the requirement of brsentation. Figures are rounded to nearest rupees.

5. There are no transactions with SSI units, hence reporting for SSI units not required.

FOR DILIP K NEEMA & ASSOCIATES

Chartered Accountants

( CA Dilip K. Neema)

Proprietor

M.N.074067

FRN NO 005279 C

FOR & ON BEHALF OF BOARD OF DIRECTORS

 ( K.R Maheshwary) Managing Director

 ( Gagan Maheshwary) Director

Place : INDORE

Dated : 30.05.2015