| I. BASIS OF PREPARATION OF FINANCIAL STATEMENTS:
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. However, it
has significant impact on presentation and disclosures made in the
financial statements. The company has also re-classified the previous
year figures in accordance with the figures of the current year.
II. BASIS OF ACCOUNTING:
The financial statements are prepared under historical cost convention,
on accrual basis, in accordance with the provisions of Companies Act, 1
956 and the accounting principles generally accepted in India and
comply with the Accounting Standards notified by the Companies
(Accounting Standards) Rules, 2006.
III. INVESTMENTS:
Investments being Long Term Investments are stated at cost. Fluctuation
in Value of investments is accounted on realisation.
IV. Capital Work in Progress includes Land, Building, Plant and
Machineries at MIDC, Lote, capital advances, material at site and
incidental expenses.
V. Project Pre-operative, Public Issue and Preliminary Expenses,
pending allocation, are deferred to be adjusted till commencement of
commercial production.
VI. No provision for retirement i.e. bonus & gratuity has been made as
no employee is eligible for entitlements of said benefits.
VII. Quantitative Information
31.3.2014 31.3.2013
DESCRIPTION M.T. Rs. M.T. Rs.
Purchases
Guar Dal (M.T.) 0 0 10 31,10,000
Guar Split Broken 0 0 10 21,30,000
Sales
Guar Dal (M.T.) 0 0 30 85,20,000
Guar Split Broken 0 0 10 21,15,000
Closing Stock
Guar Dal (M.T.) 0 0 0 0
Guar Split Broken 0 0 0 0
VIII. Contingent Liabilities
Estimated amount of contract remain to be executed Nil.
IX. In the opinion of the board, current assets, loans and advances
have value on realisation in the ordinary course of business, at least
equal to the amount at which they are stated.
X. Payment to Auditors
Current Year Previous Year
Description (Rs.) (Rs.)
Audit Fees 5,000 10,000
5,000 10,000
XI. Amount outstanding for payment to SSI Units over Rs. 1 Lac for 30
days or more: NIL (Previous year: NIL).
XII. In view of project in progress, the deferred tax
assets/liabilities is not ascertained on prudent basis.
XIII. No Impairment of Assets has been ascertained and the same will
be accounting on discarding/disposal of the assets.
XIV. There are no reportable segments.
XV. Previous year figures have been regrouped/rearranged wherever
necessary.
XVI. Figures have been rounded off to nearest rupees.
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