Professional Diamonds Ltd. இன் கணக்கு குறிப்புகள்

Mar 31, 2014

1.1 There were no transactions with related parties based on disclosure certifcate issued by the directors, hence no disclosure as per the provisions of Accounting standard 18 ''Related party Transactions is made

2.1 As per the information avaiable with the Company and certifed by them, total outstanding due to small Enterprises as required to be disclosed under the Micro, Small and Medium Enterprises Development Act 2006 at the end of is Nil (Nil)

2.2 Previous year''s figures have been regrouped wherever necessary so as to make them comparable with those of the current year.

---

Mar 31, 2013

Basis of Preparation of Financial Statements :

These financial statements have been prepared on an accrual basis and under historical cost convention and in compliance, in all material aspects, with the applicable accounting principles in India, the applicable accounting standards notified under section 211 (3C) and other relevent provisions of the Companies Act, 1956.

All the assets and liabilities have been classified as current or non-current as per the Company''s normal operating cycle and other criteria set out in Schedule VI to the Companies Act, 1956. Based on the nature of the products and the time between the acuquisation of assets for processing and their realisation in cash and cash equivalent, the Company has ascertained its operating cycle to be less than 12 monts.

1.1 There were no transactions with related parties based on disclosure certificate issued by the directors, hence no disclosure as per the provisions of Accounting standard 18 ''Related party Transactions is made

1.2 As per the information avaiable with the Company and certified by them, total outstanding due to small Enterprises as required to be disclosed under the Micro, Small and Medium Enterprises Development Act 2006 at the end of is Nil (Nil)

1.3 Previous year''s figures have been regrouped wherever necessary so as to make them comparable with those of the current year.

---

Mar 31, 2012

Basis of Preparation of Financial Statements : These financial statements have been prepared on an accrual basis and under historical Cost convention and in compliance, in all material aspects, with the applicable accounting principles in India, the applicable accounting principles in India, the applicable accounting standards notified under section 211 (3C) and the other relevant provisions of the Companies Act, 1956.

All the assets and liabilities have been classified as current or non-current as per the Company's normal operating cycle and other criteria set out in Schedule VI to the Companies Act, 1956. Based on the nature of the products and the time between the acquisition of assets for processing and their realisation in cash and cash equivalent, the Company has ascertained its operating cycle to be less than 12 months.

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity share is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. The dividend proposed, if any, by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the Company, the holders of the equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the no. of equity shares held by the shareholders.

1.1 There were no transactions with related parties based on disclosure certificate issued by the directors, hence no disclosure as per the provisions of Accounting standard 18 'Related party Transactions is made

1.2 As per the information available with the Company and certified by them, total outstanding due to small Enterprises as required to be disclosed under the Micro, Small and Medium Enterprises Development Act 2006 at the end of is Nil (Nil)

1.3 Additional Information required under para 4-D of Part -II of Schedule VI to the Companies Act, 1956 as certified by a Director is as follows :

Expenditure in Foreign Currency NIL (NIL)

Earning in Foreign Currency NIL (NIL)

1.4 Previous year's figures have been regrouped wherever necessary so as to make them comparable with those of the current year.

---

Mar 31, 2011

1. The company operates in one segment viz.diamonds. Hence the provison of Accounting Standard 17 ‘Segment Reporting’ issued by the Institute of Chartered Accountants of India are not applicable.

2. There were no transactions with related parties based on disclosure certificate issued by the directors, hence no disclosure as per the provisions of Accounting Standard 18 ‘Related Party Transactions’ is made

3. Use of Estimates :

The preparation of financial statements in conformity with generally accepted accounting prinicples require estimates and assumptions to be made that affect the reported amounts of assets and liabilities on the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Differences between actual results and estimates are recognized in the period in which the results are known / materialized.

4. Impairment of Fixed Assets :

Considering AS-28 - Impairment of Assets as specified by the Institute of Chartered Accountants of India, the Company at the end of each year determines whether there are any assets that require a provision for impairment loss.

Impairment loss is charged to the profit and loss account in the year in which , an asset is identified as impaired, when the carrying rate of the asset exceeds its recoverable value. The impairment loss booked in prior accounting periods is reveresed if there is a upward change in the estimate of recoverable account.

5. Long Term Investment are stated at cost of acquisition. Provision for diminution in the value of long term investment is made only if such diminution is considered other than temporary in nature.

6. Provisions, Contingent Assets and Contingent Liabilities :

Provisions involving substantial degree of estimation in quantum are recognized when, there is and present, as a result of past events likely obligation with a high probablity of an outflow of resources. Contingent Assets are not recognized nor disclosed in the financial statements. Contingent Liabilities, if material, are disclosed in the notes to the accounts.

7. As per the information avaiable with the Company and certified by them, total outstanding due to small Enterprises as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 at the end of is Nil (Nil).

8. Other additional information pursuant to paragraph 4C and 4 D of part II of section VI to the Companies Act, 1956 : Nil/not applicable.

9. Previous year’s figures have been regrouped whereever necessary so as to make them comparable with those of the current year.

---

Mar 31, 2010

1 The company operates in one segment viz.diamonds. Hence the provison of Accounting Standard 17 Segment Reporting issued by the Institute of Chartered Accountants of India are not applicable.

2 There were no transactions with related parties based on disclosure certificate issued by the directors, hence no disclosure as per the provisions of Accounting standard 18 Related party Transactions is made.

3 Use of Estimates :

The preparation of financial statements in conformity with generally accepted accounting principles require estimates and assumptions to be made that affect the reported amounts of assets and liabilities on the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Differences between actual results and estimates are recognized in the period in which the results are known / materialized.

4 Impairment of Fixed Assets :

Considering AS-28 - Impairment of Assets as specified by the Institute of Chartered Accountants of India, the Company at the end of each year determines whether there are any assets that require a provision for impairment loss.

Impairment loss is charged to the profit and loss account in the year in which , an asset is identified as impaired, when the carrying rate of the asset exceeds its recoverable value. The impairment loss booked in prior accounting periods is reveresed if there is a upward change in the estimate of recoverable account.

5 Provisions, Contingent Assets and Contingent Liabilities :

Provisions involving substantial degree of estimation in quantum are recognized when, there is and present, as a result of past events likely obligation with a high probablity of an outflow of resources. Contingent Assets are not recognized nor disclosed in the financial statements . Contingent Liabilities, if material, are disclosed in the notes to the accounts.

6 As per the information available with the Company and certified by them, total outstanding due to Small Enterprises as required to be disclosed under the Micro. Small and Medium Enterprises Development Act, 2006 at the end of year is Rs. Nil (Nil).

7 Other additional information pursuant to paragraph 4C and 4 D of part II of section VI to the Companies Act, 1956 : Either nil or/not applicable.

8 Previous years figures have been regrouped wherever necessary so as to make them comparable with those of the current year.