Cethar Industries Ltd. कंपली की लेखा नीति

Mar 31, 2015

A. Financial Statements are prepared under historical cost convention and in accordance with the generally accepted accounting principles except or otherwise stated elsewhere.

b. Notes on Balance Sheet Items:

1. Fixed Assets: There was no fixed assets as all assets were disposed off.

2. Depreciation : Not applicable as there were no fixed assets.

3. Inventories: The company had no stocks of finished goods, wip, raw materials, stores & spares as on 31st March, 2015 and 2014.

c. Notes on Profit and Loss Account:

1. Revenue Recognition: The income was recognized as and when invoices were raised. Generally the income and expenses were accounted on accrual basis."

2. Statutory Liabilities: Provision for statutory liabilities as at March 31, 2015 had been made in the books of accounts.

3 Short term employee benefits are recognized as an expense at the nominal values in the Statement of Profit and Loss of the year in which the related service is rendered. Post employment and other long term benefits, which are defined plans, are recognized as an expense in the Statement of Profit and Loss for the year in which the employee has rendered service.

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Mar 31, 2012

I) Financial Statements are prepared under historical cost convention and in accordance with the generally accepted accounting principles except or other wise stated elsewhere.

a) Fixed Assets : There was no fixed assets as all assets were disposed off.

b) Depreciation:

No Depreciation provided for the year under report as no asset was left with the company as on 31-3-2012..

c) Inventories:

The company had no stocks of Finished garments' WIP' Raw Materials' stores and spare Dyes & Chemicals as on 31st March' 2012.

d) Revenue Recognition :

The income was recognized as and when invoices were raised. Generally the income and expenses were accounted for on accrual basis.

e) Statutory Liabilities :

Provision for statutory liabilities as on 31st March' 2012 had been made in the books of accounts.

f) Retirement Benefits:

i) The Provident Fund amount was duly deducted in accordance with the Employee's

Provident fund and Miscellaneous Provisions Act 1952 and remitted to the Provident Fund Commissioner.

ii) Gratuity liability will be discharged as and when it arises.

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Mar 31, 2010

I) Financial Statements are prepared under historical cost convention and in accordance with the generally accepted accounting principles except or other wise stated elsewhere.

II) Notes on Balance Sheet items :

a) Fixed Assets : Fixed assets are stated at Cost.

b) Depreciation:

Depreciation had been provided on the cost as on 31st March, 2010 in respect of all assets on pro rata basis under straight line method in accordance with schedule XIV of the Companies Act, 1956

c) Inventories :

The company had stock of Finished garments, WIP, Raw Materials, stores and spares, Dyes & Chemicals as on 31st March, 2010 which were valued on the following basis as per the Revised Accounting Standard - 2.

Finished garments & WIP - Actual cost of manufacture

Stores And Spare parts :

Stores and Spare parts are valued at purchase price including freight inwards.

Raw Materials & Consumables :

Valued at purchase price including freight.

III) Notes on Profit & Loss account:

a) Revenue Recognition :

The income was recognized as and when invoices were raised. Generally the income and expenses were accounted for on accrual basis.

b) Statutory Liabilities :

Provision for statutory liabilities as on 31st March, 2010 had been made in the books of ac- counts.

c) Retirement Benefits :

i) The Provident Fund amount was duly deducted in accordance with the Employees Provi- dent fund and Miscellaneous Provisions Act, 1952 and remitted to the Provident Fund Commissioner.

ii) Gratuity liability will be discharged as and when it arises.