| 1. ACCOUNTNG ASSUMPTIONS :
The accounts have been prepared under the historic cost convention on
the basis of a going concern concept, with revenues recognized and
expenses accounted for on their accrual with due provisions/adjustments
for obligations that have been crystallized but not yet incurred.
2. SALES :
Sales include VAT.
3. BASIS OF PRESENTAION :
The structure of the accounts has been drawn in accordance with the
Revised Schedule VI of the Companies Act, 1956.
4. FIXED ASSETS:
Fixed Assets are stated at cost less depreciation. Cost includes
freight, installation Charges, duties, taxes, and other incidental
charges thereon.
5. DEPRECIATION:
Depreciation is charged on straight line method as per Schedule XIV of
the Companies Act, 1956. Depreciation on assets acquired during the
year is calculated on pro-rata basis with reference to the date of
acquisition.
6. TAXATION:
Deferred Tax is recognized, subject to the consideration of prudence,
on timing difference being the differences between taxable incomes and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods.
7. INVENTORIES:
Inventories are valued as under.
a) Raw materials are valued at cost less VAT.
b) Finished goods are valued at cost price excluding Central Excise on
them.
c) Excise duty is accounted for as and when the same is paid on the
dispatch of the goods from the factory.
8. RETIREMENT BENEFITS
The company has a policy of paying retirement benefits to its employees
as and when due.
9. INVESTMENTS:
Investments stated at cost.
10. MISCELLANEOUS EXPENDITURE:
All expenditure, the benefit of which is spread over a number of years
grouped under Miscellaneous Expenditure to be amortized in five
instalments from the year in which the benefit of such expenditure
accrues.
Notes forming part of the Balance Sheet as at 31st March, 2014 and
Profit and Loss statement for the period ended on that date.
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