SIGNIFICANT ACCOUNTING POLICIES- i) Basis of Accounting : Financial Statement are brpared under historical cost convention on a accrual basis in accordance with the requirements of the Companies Act. 2013. ii) Fixed Assets and Debrciation a) There is no any Fixed Assets, hence Not Applicable. b) Debrciation : (i) N.A. ii) INVENTORIES There is no Inventory hence not applicable. iii) MISCELLANEOUS EXPENSES Balance of Preliminary Expenditure at the year end is Rs. 10,87,088/- iv) CONTINGENT LIABILITIES No provision is made for liabilities, which are contingent in nature but, if material the same is disclosed by way of notes to the accounts. 2. Deferred Tax Deferred Tax is calculated at the tax rate and laws that have been enacted or subsequently enacted as of the Balance Sheet date and is recognised on timing difference that originate in one period and are capable of reversing in one period and are capable of reversing in one or more subsequent period. Deferred Tax, subject to consideration of prudence are recognised and carried forward only to the extent that they can be realised Deferred Tax Assets On account of Debrciation on Fixed Assets Rs. NIL/3. None of the employees of the Company has crossed the Limits Prescribed u/s. 217 (2A) of the Companies ( Particulars of Employees ) Amendment Rules, 1988 during the year. 3. In the opinion of the Board, Current Assets, Loans and Advances have the value at which they are stated in the Balance Sheet, if realised in the ordinary course of business and are subject to confirmation. 4. Additional Information under Schedule III of the Companies Act, 2013 : Nil 5. Previous Year's figure have been re-grouped / rearranged wherever essential. 6. All the Balances of Sundry Creditors, and Sundry Debtors are subject to confirmation. And realized in the ordinary course of business. 7. Cash on hand at the year end certified by the management. Moreover we are not physically verified the Cash Balance as on 31-03-2015. For S. Mandawat & Co. For & on behalf of the Board Chartered Accountants Sd/- (Subhash K. Mandawat) Proprietor Firm No. 118330w Membership: 102708 Sd/- Director Sd/- Director Place: Ahmedabad Date: May 29th, 2015 |