GCCL Infrastructure & Projects Ltd. कंपली की लेखा नीति

Mar 31, 2014

1. The financial statements are prepared under historical cost convention on the basis of "Accrual Concept".

2. FIXED ASSETS AND DEPRECIATION:

A) Fixed Assets are stated at their cost of acquisition less accumulated depreciation.

B) Depreciation on additional/deletion to the fixed assets is provided on "Written Down Value Method" at the revised rates specified in schedule XIV to the Companies Act, 1956 on pro-rata basis from the month from which each such asset is put to use.

3. INVESTMENTS:

The investments are stated at cost.

4. STOCK-IN-TRADE:

Stock-in-trade is being valued at cost.

5. REVENUE RECOGNITION:

Company recognizes revenue in respect of interest income on accrual basis. The revenue in respect of other

income is recognizes when no significant uncertainty as to its determination on reliability exists.

6. PROVISION OF TAXATION:

Provisions for taxation have been made of Rs. 40,000.

7. RELATED PARTY DISCLOSURE UNDER ACCOUNTING STANDARD-18:

(i) The list of Related Party is as identified by the management are as under,

a. Promoters Gujarat Credit Corporation Limited

b. Director Amam S. Shah

(ii) The Company has identified all related parties and details of transactions are below. No provision for doubtful debts or advances is required to be made & no amounts have been written off or written back during the year in respect of debts due from or to related parties. There are no other related parties where control exists that need to be disclosed.

8. MISCELLANEOUS EXPENDITURE:

1. Miscellaneous Expenditure consist or preliminary & Public Issue expenses written of equally over a period of 10 years.

2. The figures of previous year have been regrouped and rearranged to make them comparable with those of the current year.

3. Company has yet to obtain the confirmation from the loans and Advances, creditors and other balances. If any adjustment necessary the same will be made on the receipt of the same.

4. In the opinion of the Board, Current Assets, Loans and Advances, are approximately of the value if realized in the ordinary course of the business. The provision for the depreciation and all known liabilities are adequate and not in excess of the amount realizably necessary.

5. No provision has been made for accruing liability for future payment of gratuity to employees as none of the employee have become entitled for gratuity under the Payment of Gratuity Act.

6. The Company has made investments in different companies as detailed in schedule 3 to the balance sheet. For quoted investment, as there is no market quote available, the aggregate market value of such investment is not ascertainable and details not available for the same valuation. Its book value is Rs.2,97,20,125/- (Previous year Rs. 2,97,20,125/-) The company has made in the past provision for diminution is Rs.11,90,625/- in the value & further provision for diminution in value has not been made, of these investments which is not in agreement with the accounting Standard 13 (AS-13) in respect of "Accounting of Investments" issued by the "Institute of Chartered Accountants of India".

7. The public issue Accounts are subject to reconciliation. Share Application Money Rs. 18070/- is not refunded till date.

8. There are no other details to be given as required under para 4-c and 4-d of part III of Schedule VI of Companies Act, 1956.

9. Estimated amount of contracts remaining to be executed on capital account (net of advance) Rs. NIL (P.Y.NIL).

10. Transaction of stock during the year. NIL[11]Audit Fees

11. Audit Fees

2013-2014 2012-2013

Rs. 15000 Rs. 15000

12. Earning Per Share:

The company reports basic and diluted earnings per share in accordance with Accounting Standard (AS) 20 - Earning per Share issued by the Institute of Chartered Accountants of India. Basic Earning per share are computed by dividing the net profit or loss for the year by the weighted average number of equity share outstanding during the year. Diluted earnings per share is computed by dividing the net profit or loss for the year by the weighted average number of Equity Shares outstanding during the year as adjusted for the effects of all dilutive potential equity share, except where the results are anti-dilutive.

Calculation of Earning Per Share:

The numerators and denominators used to calculate the basic and diluted EPS are as follows.

Particulars 2013-14 2012-13

A Profit/ (Loss) attributable to

Profit / (-) Loss for the year 81982 18944

B Basic & weighted average number of Equity Shares outstanding 6005500 6005500

during the year

C Nominal Value of Equity Share 10 10

D Basic Earnings/(loss) per share 0.01 0.003

E Diluted Earning per Share - -

13. Deferred Tax Liability Provision not made as details not available for verification.

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Mar 31, 2013

1. Thefinancial statements are prepared under historical cost convention on the basis of "Accrual Concept".

2. FIXED ASSETS AND DEPRECIATION:-

A) Fixed Assetsarestatedat the ircost of acquisition less accumulated depreciation.

B) Depreciation on additional/deletion to the fixed assets is provided on "Written Down Value Method" at the revised rates specified in schedule XIV to the Companies Act, 1956 on pro-rata basis from the month from which each such asset is put to use.

3. INVESTMENTS:-

The investments are stated at cost.

4. STOCK-IN-TRADE:-Stock-in-trade is being valued at cost.

5. REVENUE RECOGNITION:-

Company recognizes revenue in respect of interest income on accrual basis. The revenue in respect of other income is recognizes when no significant uncertainty as to its determination on reliability exists.

6. PROVISION OFTAXATION:-Provisionsfortaxation have been made of Rs 5000.

7. RELATED PARTY DISCLOSURE UNDER ACCOUNTING STANDARD-18:-(i) The list of Related Party is as identified by the management are as under. a. Promoters Gujarat Credit Corporation Limited

(ii) The Company has identified all related parties and details of transactions are below. No provision for doubtful debts or advances is required to be made & no amounts have been written off or written back during the year in respect of debts due from or to related parties. There are no other related parties where control exists that need to b© disclossd

8. MISCELLANEOUS EXPENDITURE:-

[01] The figures of previous year have been regrouped and rearranged to make them comparable with those of the current year. [02] Company has yet to obtain the confirmation from the loans and Advances, creditors and other balances. If any adjustment necessary the same will be made on the receipt of the same. [03] In the opinion of the Board, CurrentAssets, Loans and Advances, are approximately of the value if realized in the ordinary course of the business. The provision for the depreciation and all known liabilities are adequate and not in excess of the amount realizably necessary. [04] No provision has been made for accruing liability for future payment of gratuity to employees as none of the employee have become entitled for gratuity underthe Payment of Gratuity Act.

[05] The Company has made investments in different companies as detailed in schedule 3 to the balance sheet. For quoted investment, as there is no market quote available, the aggregate market value of such investment is not ascertainable and details not available for the same valuation. Its book value is Rs. 2,97,20,125/- [Previous year Rs. 2,97,20,125/-] The company has made in the past provision for diminution is Rs.11,90,625/-in the value & further provision for diminution in value has not been made, of these investments which is not in agreement with the accounting Standard 13 (AS-13) in respect of "Accounting of Investments" issued by the "Institute of Chartered Accountants of India".

[06] The public issue Accounts are subject to reconciliation. Share Application Money Rs. 18070/- is not refunded till date.

[07] There are no other details to be given as required under para 4-c and 4-d of part III of Schedule VI of Companies Act, 1956.

[08] Estimated amount of contractsremaining to beexecuted on capitalaccount{netof advance) Rs. NIL(P.Y.NIL).

[09] Transaction oF stock during the year. NIL

[10] Audit Fees

2012-13 2011-12

Rs.22500 Rs. 15000

[11] Earning Per Share:

The company reports basic and diluted earnings per share in accordance with Accounting Standard (AS) 20 -Earning per Share issued by the Institute of Chartered Accountants of India. Basic Earning per share are computed by dividing the net profit or loss for the year by the weighted average number of equity share outstanding during the year. Diluted earnings per share is computed by dividing the net profit or loss for the year by the weighted average number of Equity Shares outstanding during the year as adjusted for the effects of all dilutive potential equity share, except where the results are anti-diiutive.

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Mar 31, 2012

1. The financial statements are prepared under historical cost convention on the basis of "Accrual Concept".

2. FIXED ASSETS AND DEPRECIATION:-

A) Fixed Assets are stated at their cost of acquisition less accumulated depreciation.

B) Depreciation on additional/deletion to the fixed assets is provided on "Written Down Value Method" at the revised rates specified in schedule XIV to the Companies Act, 1956 on pro-rata basis from the month from which each such asset is put to use.

3. INVESTMENTS:-

The investments are stated at cost.

4. STOCK-IN-TRADE:- Stock-in-trade is being valued at cost.

5. REVENUE RECOGNITION:-

Company recognizes revenue in respect of interest income on accrual basis. The revenue in respect of other income is recognizes when no significant uncertainty as to its determination on reliability exists.

6. PROVISION OF TAXATION:-

Provisions for taxation have been made of Rs. NIL.

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Mar 31, 2010

1. The financial statements are prepared under historical cost convention on the basis of "Accrual Concept".

2. FIXED ASSETS AND DEPRECIATION:- A) Fixed Assets are stated at their cost of acquisition less accumulated depreciation.

B) Depreciation on additional/deletion to the fixed assets is provided on "Written Down Value Method" at the revised rates specified in schedule XIV to the Companies Act, 1956 on pro-rata basis from the month from which each such asset is put to use.

3. INVESTMENTS:-

The investments are stated at cost.

4. STOCK-IN-TRADE:-

Stock-in-trade is being valued at cost.

5. REVENUE RECOGNITION:- Company recognizes revenue in respect of interest income on accrual basis. The revenue in respect of other income is recognizes when no significant uncertainty as to its determination on reliability exists.

6. PROVISION OF TAXATION:- Provisions for taxation have been made of Rs. NIL.

7. RELATED PARTY DISCLOSURE UNDER ACCOUNTING STANDARD-18:- (i) The list of Related Party is as identified by the management are as under, a. Promoters Gujarat Credit

Corporation Limited

(ii) The Company has identified all related parties and details of transactions are below. No provision for doubtful debts or advances is required to be made & no amounts have been written off or written back during the year in respect of debts due from or to related parties. There are no other related parties where control exists that need to be disclosed.

8. MISCELLANEOUS EXPENDITURE:-

[01] Miscellaneous Expenditure consist or preliminary & Public Issue expenses written of equally over a period of 10 years.