Accounting Policies

General :-

Accounting Policies not specifically referred to otherwise be consistent and in consonance with generally accepted accounting principles.

Revenue Recognition :-

Expenses and Income considered payable and receivable respectively are accounting for on accrual basis except discounts claims relates and retirement benefits in respect of leave encashment which cannot be determined with certainty during the year.

Fixed Assets :-

Fixed assets are stated at their original cost of acquisition including taxes freight and other incidental expenses related to acquisition and installation of the concerned assets less debrciation till date.

Debrciation :-

Consequent to enforcement of Companies Act, 2013, the Debrciation on fixed assets has been provided as per Schedule II of the said Act taking into account the useful life of the assets as given in the schedule.

Investments :-

Investments are stated at cost.

Inventories :-

Inventories are valued as under :-

Raw Material : At Cost

8. Retirement Benefits :-

The company has taken a policy from Life Insurance Corporation of India for the payment of gratuity. The gratuity has been provided in books on accrual basis.

9. Goods and Service Tax :-

Goods and Service Tax is charged on ad-volerum basis and is accounted for when the goods are cleared from factory site.

10.Taxes on Income:-

Provision for current tax is made on the basis of estimated taxable income for the current accounting year in accordance with the Income Tax Act, 1961. The deferred tax for timing differences between the book and tax profits for the year is accounted for, using the tax rates and laws that have been substantively enacted as of the balance sheet date. Deferred tax assets arising from timing differences are recognised to the extent there is reasonable certainty that these would be realised in future.

Notes on Accounts

The SSI status of the creditors is as certified by the company.

Sundry Creditors, Sundry Debtors, Loans & Advances and Unsecured Loans have been taken at their book value subject to confirmation and reconciliation.

Consumption of consumables and raw material has been arrived by adding purchases to Opening Stock and deducted closing stock therefrom.

Payments to Auditors:- (Rs. In Lacs)

Auditors Remuneration	2021-22	2020-21
Audit Fees	1.00	1.00
Tax Audit Fees	0.00	0.00
Company Law Matters	0.00	0.00
GST / Service Tax	0.18	0.18
Total	1.18	1.18

Loans and Advances are considered good in respect of which company does not hold any security other than the personal guarantee of persons.

Goods & Service Tax has not been taken into accounted for valuation of finished goods looking at factory site in view of accounting policy No. 9. The same has no impact on Statement of Profit and Loss.

Company has brpared Reconciliation for Inventory, debtors and creditors balances & no major deviations has been found between amount as per stock statement submitted to the bank for the month of March, 2022 and as per Balance Sheet as on 31.03.2022.

Related Party disclosure

(A) Related Parties and their Relationship

Transactions with Related parties (Rs in Lacs)

Name of the related Party	Nature of Relationship	Nature of Transactions	Value of Transactions	PAN
Bhagwat Wire Industries	Sister Concern	Sales of Material	1367.34	AAFFB2671M
Bhagwat Wire Industries	Sister Concern	Purchase of Material	1438.07	AAFFB2671M
Shilpa Rathi	Shri Shailesh Rathi’s (M.D.) wife	Salary	15	ADWPR3129G

	Transacting during the year		Outstanding as on 31/03/22
Particulars	Key Management Personnel	Relative of Key Management Personnel	Key Management Personnel	Relative of Key Management Personnel
Advance Paid	0	0	0	0
Received Back	0	0	0	0
Deposit Received	0	0	0	0
Deposit Repaid	0	0	0	0
Interest Received	0	0	0	0
Interest Paid	120	0	0	0
Remuneration Paid	96	15	8	1.25
Purchase to sister concern	0	1438.07	0	0
Sales to sister concern	0	1367.34	0	0
Rent Paid	0	0	0	0
Other Payment	0	0	0	0
Job Charges	0	0	0	0

QUANTITATIVE DETAILS OF OPENING STOCK TURNOVER, PRODUCTION/ PURCHASES, CLOSING STOCK

Current Year

Particulars	Qty (In m.t.)	Amount (In Lacs)
Opening Stock (Semi finished)	0	0
Production	12422	91453
Receipt for replacement	0	0
Sales/Dispatch	12422	91453
Rejections/Samples	0	0
Closing Stock (Semi finished)	0	0

Previous Year

Particulars	Qty (In m.t.)	Amount (In Lacs)
Opening Stock (Semi finished)	0	0
Production	11583	64506
Receipt for replacement	0	0
Sales/Dispatch	11583	64506
Rejections	0	0
Closing Stock (Semi finished)	0	0

RAW MATERIAL CONSUMED

Particulars	Quantity (Qty M.T..)	Amount (In Lacs)	Quantity (Qty M.T..)	Amount (In Lacs)
31/03/2022		31/03/2021
Copper	11313	84076	11096	58652
Aluminium	787	1724	229	427
Insulating Paper	270	520	206	424
TIN	11	219	4	42
Varnish	189	326	201	298
Packing Materials	-	313	-	212
Stores & Spares	-	468	-	297
TOTAL		87648		60352

% of imported & indigenous raw material & consumables (Rs In Lacs)

	31/03/22		31/03/21
	%	Amount	%	Amount
Imported	43%	37106.44	22%	13963.19
Indigenous	57%	49621.52	78%	48436.11
TOTAL	100%	86727.97	100%	62399.30

Value of Imports 2021-22 (Rs. in Lacs) 2020-21 (Rs. in Lacs)

Raw Material 37106.44 13963.19

Capital Goods 394.59 93.18

TOTAL 37501.04 14056.37

Expenditure in Foreign Currency Rs.37501.04 Lacs Rs. 14056.38 Lacs

Earning in Foreign Exchange Rs.16106.75 Lacs Rs. 10549.27 Lacs

Financial Ratio

SEPARATE IN EXCEL SHEET

Previous year figures have been regrouped/rearranged wherever necessary.

In terms of Our Separate Audit Report of Even Date Attached.

For KIRAN PATEL & CO.	For VIDYA WIRES PVT LTD.
Chartered Accountants	CIN: U31300GJ1981PTC004879
Firm Registration No. 105190W
KIRAN PATEL Partner	(S.S. RATHI) (SHAILESH RATHI) CMD (DIN:00410015) MD (DIN:02941335)
Membership No.031238
Place: Anand	Place: Anand
Date:-09.09.2022	Date:- 09.09.2022

Accounting Policies not specifically referred to otherwise be consistent and in consonance with generally accepted accounting principles.

Accounting Policies

General :-

Accounting Policies not specifically referred to otherwise be consistent and in consonance with generally accepted accounting principles.

Revenue Recognition :-

Expenses and Income considered payable and receivable respectively are accounting for on accrual basis except discounts claims relates and retirement benefits in respect of leave encashment which cannot be determined with certainty during the year.

Fixed Assets :-

Fixed assets are stated at their original cost of acquisition including taxes freight and other incidental expenses related to acquisition and installation of the concerned assets less debrciation till date.

Debrciation :-

Consequent to enforcement of Companies Act, 2013, the Debrciation on fixed assets has been provided as per Schedule II of the said Act taking into account the useful life of the assets as given in the schedule.

Investments :-

Investments are stated at cost.

Inventories :-

Inventories are valued as under :-

Raw Material : At Cost

8. Retirement Benefits :-

The company has taken a policy from Life Insurance Corporation of India for the payment of gratuity. The gratuity has been provided in books on accrual basis.

9. Goods and Service Tax :-

Goods and Service Tax is charged on ad-volerum basis and is accounted for when the goods are cleared from factory site.

10.Taxes on Income:-

Provision for current tax is made on the basis of estimated taxable income for the current accounting year in accordance with the Income Tax Act, 1961. The deferred tax for timing differences between the book and tax profits for the year is accounted for, using the tax rates and laws that have been substantively enacted as of the balance sheet date. Deferred tax assets arising from timing differences are recognised to the extent there is reasonable certainty that these would be realised in future.

The company has taken a policy from Life Insurance Corporation of India for the payment of gratuity. The gratuity has been provided in books on accrual basis.