Good Value Marketing Company Ltd. कंपली की लेखा नीति

Mar 31, 2015

1 Basis of Accounting

These financial statements have been prepared in acordance with generally accepted accounting principles in India under historical cost convention on accural basis. These financial stetements have been prepared to comply in all materials aspects with accounting standards notified under Section 133 of the Companies Act 2013 read with Companies (Accounts) Rule 2014.

2 Fixed Assets.

All assets are stated at acquisition cost less accumulated depreciation.

3 Depreciation:

Debreciation on Fixed assets has been calculated on written down value method at the rates specified in Companies Rules,2006. Wgere as assets acquired/purchased/ constructed on or after 01/08/2014 the depericiation is charged as per schedule 11 of the Companies Acts 2013.

4 Investments.

Investment are stated at acquisition cost. Loss/ Profit, if any arising on sale is accounted on cash basis.

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Jul 31, 2014

1 Basis of Accounting

The financial statements are generally prepared under historical coast convention on an accrual basic in accordance with the provision of the companies Act, 1956 and comply in all material as facts in respect with the notified According Standards by Companies (Accounting Standard) Rules, 2006 (as amended) except gratuity and other retirment benefits

2 Fixed Assets.

All assets are stated at acquisition cost less accumulated depreciation.

3 Depreciation:

Debreciation on Fixed assets has been calculated on written down value method at the rates specified in Companies Rules,2006 . Impairment in the carrying value of the office equipment is recognized in accordance with accounting Standard - 28, Impairment of Assets

4 Investments.

Investment are stated at acquisition cost. Loss/ Profit, if any arising on sale is accounted on cash basis.

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Jul 31, 2013

1 Basis of Accounting

The financial statements are generally prepared under historical coast convention on an accrual basic in accordance with the provision of the companies Act, 1956 and comply in all material as facts in respect with the notified According Standards by Companies (Accounting Standard) Rules, 2006 (as amended) except gratuity and other retirment benefits

2 Fixed Assets.

All assets are stated at acquisition cost less accumulated depreciation.

3 Depreciation:

Debreciation on Fixed assets has been calculated on written down value method at the rates specified in Companies Rules,2006

Impairment in the carrying value of the office equipment is recognized in accordance with accounting Standard - 28, Impairment of Assets

4 Investments.

Investment are stated at acquisition cost. Loss/ Profit, if any arising on sale is accounted on cash basis.

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Jul 31, 2012

1 Basis of Accounting

The financial statements are generally prepared under historical coast convention on an accrual basic in accordance with the provision of the companies Act, 1956 and comply in all material as facts in respect with the notified According Standards by Companies (Accounting Standard) Rules, 2006 (as amended) except gratuity and other retirment benefits

2 Fixed Assets.

All assets are stated at acquisition cost less accumulated depreciation.

3 Depreciation:

Debreciation on Fixed assets has been calculated on written down value method at the rates specified in Companies Rules,2006

Impairment in the carrying value of the office equipment is recognized in accordance with - accounting Standard - 28, Impairment of Assets ''

4 Investments.

Investment are stated at acquisition cost. Loss/ Profit, if any arising on sale is accounted on cash basis.

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Jul 31, 2011

1. Accounting Policies:

i. Basis of Accounting - The financial statements are generally prepared under historical cost convention on an accrual basis in accordance with the provision of the companies Act, 1956 and comply in all material as facts in respect with the notified According Standards by Companies (Accounting Standard) Rules, 2006 (as amended) except gratuity and other retirement benefits and expenses not provided as stated in notes below.

ii. Fixed Assets and Depreciation -

a) Technical know how fees and Lands are stated at acquisition cost. All other assets are stated at acquisition cost less accumulated depreciation.

b) Depreciation on the Fixed assets except Land and Technical know how fees has been calculated on written down value method at the rates specified in Income tax act 1961.

c) Impairment in the carrying value of the office equipment is recognized in accordance with Accounting Standard - 28, Impairment of Assets.

iii. Investments -

Investments are stated at acquisition cost. Loss/Profit, if any arising on sale is accounted on cash basis.

iv. Inventories -

As per consistent practice followed by the Company the valuation is done as under:

a) Raw materials, Stores, Components and Work in progress at cost.

b) Finished Goods at below market price (as certified by the Management).

c) Stock in trade of shares is valued market value.

v. Sales -

Sales are inclusive of sales tax if any and are net of trade discount.

vi. Retirement Benefits -

There is no scheme for retirement benefits, such as gratuity, superannuation and encashment of leave on retirement benefits at present applicable in this Company.

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Jul 31, 2010

I. Basis of Accounting -

The financial statements are generally prepared under historical cost convention on an accrual basis in accordance with the provision of the companies Act, 1956 and comply in all material as facts in respect with the notified According Standards by Companies (Accounting Standard) Rules, 2006 (as amended) except gratuity and other retirement benefits and expenses not provided as stated in notes below.

ii. Fixed Assets and Depreciation -

a) Technical know how fees and Lands are stated at acquisition cost. All other assets are stated at acquisition cost less accumulated depreciation.

b) Depreciation on the Fixed assets except Land and Technical know how fees has been calculated on written down value method at the rates specified in Income tax act 1961.

c) Impairment in the carrying value of the office equipment is recognized in accordance with Accounting Standard - 28, Impairment of Assets.

iii. Investments -

Investments are stated at acquisition cost. Loss/Profit, if any arising on sale is accounted on cash basis.

iv. Inventories -

As per consistent practice followed by the Company the valuation is done as under:

a) Raw materials, Stores, Components and Work in progress at cost.

b) Finished Goods at below market price (as certified by the Management).

c) Stock in trade of shares is valued market value.

v. Sales -

Sales are inclusive of sales tax if any and are net of trade discount.

vi. Retirement Benefits -

There is no scheme for retirement benefits, such as gratuity, superannuation and encashment of leave on retirement benefits at present applicable in this Company.