Mar 31, 2016
1. SIGNIFICANT ACCOUNTING POLICIES
1.1 Basis of Preparation of Financial Statements:-
The Accompanying financial statements have been prepared on a going concern basis under the historical cost convention on the accrual basis of accounting in conformity with Generally Accepted Accounting Principles in India (" India GAAP)
1.2 Valuation of Inventories:-
Finished Goods At Cost
Stock in Process At Cost
Raw Materials At Cost
Consumable & Stores Fuel Item At Cost
1.3 Fixed Assets:-
Fixed Assets are stated at cost Less accumulated depreciation (less CENVAT, wherever applicable). Cost includes related duties, taxes, freight and installation expenses.
Advances paid towards the acquisition or construction of fixed Assets and the cost of assets not put to use as at the reporting date are disclosed under Capital Work in progress.
1.4. Depreciation.
Depreciation on tangible assets has been provided on Straight Line Method over the useful life in the manner prescribed in the schedule II of the companies Act 2013 effective from 1st April 2014, as against the earlier practice of depreciating at the rates prescribed in Schedule XIV to the Companies Act, 1956.
Depreciation on addition to assets or on sale/discernment of assets, is calculated on pro-rata from the month of such addition or up to the month of such sale/discernment, as the case may be.
1.5. Investments
Investments being long term are stated at Cost.
1.6. Retirement Benefits
Provision for gratuity has not been provided for. The same shall be met as and when they arise.
1.7. Segment reporting
The company manufactures and sells only one product, namely writing and printing papers. The company finds no risks involved in the revenue and expenses of the transaction.
1.8. Deferred Tax
Deferred tax is recognized on timing difference between accounting income and the taxable income for the period and reversal of timing differences of earlier periods and quantified using the tax rates and laws that have been enacted/ substantively enacted as at the balance sheet date. The deferred tax assets are recognized and carried forward to the extent that there is reasonable certainty that these would be realized in future
1.9. Provisions, Contingent Liabilities and contingent Assets:
Provision is recognized only when there is a present obligation as a result of past event and it is probable that there will be an outflow of resources. Contingent liabilities have not been provided for. The same will be met as and when they arise. Contingent Assets are neither recognized nor disclosed in the financial statements.
Jun 30, 2015
1.1 Basis of Preparation of Financial Statements:-
The Accompanying financial statements have been prepared on a going
concern basis under the historical cost convention on the accrual basis
of accounting in conformity with Generally Accepted Accounting
Principles in India (Â India GAAP)
1.2 Valuation of Inventories:-
Finished Goods At Cost
Stock in Process At Cost
Raw Materials At Cost
Consumable & Stores Fuel Item At Cost
1.3 Fixed Assets:-
Fixed Assets are stated at cost Less accumulated depreciation (less
CENVAT, wherever applicable). Cost includes related duties, taxes,
freight and installation expenses.
Advances paid towards the acquisition or construction of fixed Assets
and the cost of assets not put to use as at the reporting date are
disclosed under Capital Work in progress.
1.4. Depreciation.
Depreciation on tangible assets has been provided on Straight Line
Method over the useful life in the manner prescribed in the schedule II
of the companies Act 2013 effective from 1st April 2014, as against the
earlier practice of depreciating at the rates prescribed in Schedule
XIV to the Companies Act, 1956.
Depreciation on addition to assets or on sale/discardment of assets, is
calculated on pro-rata from the month of such addition or upto the month
of such sale/discardment, as the case may be.
1.5. Investments
Investments being long term are stated at Cost..
1.6. Retirement Benefits
Provision for gratuity has been made for the eligible employee.
1.6. Segment reporting
The company manufactures and sells only one product, namely writing and
printing papers. The company finds no risks involved in the revenue and
expenses of the transaction.
1.7. Deferred Tax
Deferred tax is recognized on timing difference between accounting
income and the taxable income for the period and reversal of timing
differences of earlier periods and quantified using the tax rates and
laws that have been enacted/ substantively enacted as at the Balance
Sheet date. The deferred tax assets are recognized and carried forward
to the extent that there is reasonable certainty that these would be
realized in future.
1.8. Provisions, Contingent Liabilities and contingent Assets:
Provision is recognized only when there is a present obligation as a
result of past event and it is probable that there will be an outflow
of resources. Contingent liabilities have not been provided for. The
same will be met as and when they arise. Contingent Assets are neither
recognized nor disclosed in the financial statements.
Jun 30, 2014
A. ACCOUNTING CONVENTION
The financial statements are prepared under the historical cost
convention on accrual basis and in accordance with the mandatory
accounting standards issued by the Institute of Chartered Accountants
of India.
b. FIXED ASSETS
Fixed Assets are stated at cost (less CENVAT, wherever applicable).
Cost includes related duties, taxes, freight and installation expenses.
Advances paid towards the acquisition or construction of fixed Assets
and the cost of assets not put to use as at the reporting date are
disclosed under Capital Work in progress.
c. DEPRECIATION
Depreciation on the assets has been provided on Straight Line Method as
per Schedule XIV to the Companies Act, 1956.
d. INVESTMENTS
Investments being long term are stated at Cost.
e. INVENTORIES
Finished Goods At Cost
Stock in Process At Cost
Raw Materials At Cost
Consumable & Stores
Fuel Item At Cost
f. GRATUITY
Provision for gratuity has been made for the eligible employee.
Jun 30, 2013
A. ACCOUNTING CONVENTION
The financial statements are prepared under the historical cost
convention on accrual basis and in accordance with the mandatory
accounting standards issued by the Institute of Chartered Accountants
of India.
b. FIXED ASSETS
Fixed Assets are stated at cost (less CENVAT, wherever applicable).
Cost includes related duties, taxes, freight and installation expenses.
c. DEPRECIATION
Depreciation on the assets has been provided on Straight Line Method as
per Schedule XIV to the Companies Act, 1956.
d. INVESTMENTS
Investments being long term are stated at Cost.
e. INVENTORIES
Finished Goods At Cost''
Stock in Process At Cost
Raw Materials At Cost
Consumable & Stores
Fuel Item At Cost
f. GRATUITY
Provision for gratuity has been made for the eligible employee.
Jun 30, 2011
A. ACCOUNTING CONVENTION
The financial statements are prepared under the historical cost
convention on accrual basis and in accordance with the mandatory
accounting standards issued by the Institute of Chartered Accountants
of India.
b. FIXED ASSETS
Fixed Assets are stated at cost (less CENVAT, wherever applicable).
Cost includes related duties, taxes, freight and installation expenses.
c. DEPRECIATION
Depreciation on the assets have been provided on Straight Line Method
as per Schedule XIV of the Companies Act, 1956.
d. INVESTMENTS
Investments being long term are stated at Cost.
e. INVENTORIES
Finished Goods At Cost
Stock in Process At Cost
Raw Materials At Cost
Consumable & Stores Fuel Item At Cost
f. GRATUITY
Provision for gratuity has been made for the eligible employee.
Jun 30, 2010
A. ACCOUNTING CONVENTION
The financial statements are prepared under the historical cost
convention on accrual basis and in accordance with the mandatory
accounting standards issued by the Institute of Chartered Accountants
oflndia.
b. FIXED ASSETS
Fixed Assets are stated at cost (less CENVAT, wherever applicable).
Cost includes related duties, taxes, freight and installation expenses.
c. DEPRECIATION
Depreciation on the assets have been provided on Straight Line Method
as per Schedule XIV of the Companies Act, 1956.
d. INVESTMENTS
Investments being long term are stated at Cost.
e. INVENTORIES
Finished Goods At Cost
Stock in Process At Cost -
Raw Materials At Cost
Consumable & Stores Fuel Item At Cost
f. GRATUITY
Provision for gratuity has been made for the eligible employee.