Jaidka Industries Ltd. कंपली की लेखा नीति

Mar 31, 2015

1.1 BASIS OF PREPARA TION OF FINANCIAL ST A TEMENTS:

The financial statements have been prepared to comply with the Generally Accepted Accounting Principles in India (Indian GAAP), including the Accounting Standards notified under the relevant provisions of the Companies Act. 2013.

The financial Statements are prepared on accrual basis under the historical cost convention. The financial statements are presented in Indian Rupees rounded off to the nearest rupees in Lacs.

1.2 FIXED ASSETS AND DEPRECIA TION:

A) The fixed assets are stated at cost less accumulated depreciation thereon. Cost of acquisition is inclusive of freight, duties, taxes and other incidental expenses.

B) Effective 1st April 2014, the company depreciates its fixed assets over the useful life in the manner prescribed in schedule II of the Companies Act, 2013 as against the earlier practice of depreciating at the rates prescribed in schedule XIV of the companies Act 1956.

C) Depreciation on additions to assets or on sale/discardment of assets is calculated pro rata from the month of such addition or up to the month of such sale/discardment as the case may be.

D) Depreciation on Tangible assets is provided on straight line method over the useful life of assets prescribed in Part C of Schedule II of the Companies Act, 2013.

1.3 INVENTORIES:

1. Raw materials are valued at cost. Cost is ascertained on first in first out basis.

2. Finished goods are valued at lower of cost or net realizable value. Cost includes related overheads & taxes & duty paid/payable on such goods.

3. Waste is valued at estimated realizable value.

4. Stock in process is valued at cost including overheads.

1.4 EMPLOYEES BENEFITS:

Employees Benefits are accounted for on cash Basis.

1.5 REVENUE RECOGNITION:

a) Interest/Dividend is recognized on accrual basis.

b) Sale of goods is recognized at the dispatch of finished goods to the customers.

1.6 OPERATING LEASES:

Lease rentals in respect of assets taken on 'Cancellable operating lease" are charged to Profit & Loss Account on straight- line basis over the lease term.

1.7 TAXES ON INCOME:

Current tax is determined as the amount of tax payable in respect of taxable income for the- year. Deferred tax is recognized, on timing differences, being the difference between taxable incomes and accounting income that originate in one period and deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future.

1.8 INVESTMENTS:

Investments are valued at cost.

1.9 BORROWING COSTS:

Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized till the date the assets are put to use. All other borrowing costs are charged to revenue.

1.10 EARNING PER SHARE:

The basic and diluted earning per share ("EPS") is calculated by dividing the profit / (loss) after tax by the weighted average number of Equity Share outstanding. Diluted earnings per share is computed by dividing net profits for the year, adjusted for the effects of dilutive potential equity Shares, attributable to the Equity shareholders by the weighted average number of the equity shares and dilutive potential equity shares outstanding during the year except where the results are anti dilutive. Dilutive potential equity shares are deemed converted as of the beginning of the year, unless they have been issued at a later date.

1.11 PRO VISIONS AND CONTINGENCIES:

A provision is recognized when the company has a present legal or constructive obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation, in respect of which reliable estimate can be made. Provisions (excluding retirement benefits) are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. Contingent liabilities are not recognized but are disclosed in the notes to the financial statement. A contingent asset is neither recognized nor disclosed.

1.12 IMPAIRMENT OF ASSETS:

At each Balance sheet date, the carrying values of the assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where there is an indication that there is a likely impairment loss for a group of assets, the company estimates the recoverable amount of the group of assets as a whole, to determine the value of impairment.

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Mar 31, 2013

1.1 ACCOUNTING CONVENTION:

The Financial statements are prepared on a going concern basis under the Historical cost convention on accrual basis in accordance with the applicable accounting standards issued by the institute of chartered Accountants of India (Unless otherwise mentioned and the relevant presentational requirements of the companies Act, 1956.

1.2 FIXED ASSETS AND DEPRECIATION:

A) The fixed assets are stated at cost less accumulated depreciation thereon. Cost of accusation is inclusive of freight, duties, taxes and other incidental expenses

B) Depreciation is charged on straight line method at the rates and in the manner laid down in schedule XIV to the companies Act, 1956 pro-rata depreciation is charged on fixed Assets added disposed off/ discharged during the year with reference to the month in which the addition disposal/discarding takes place.

1.3 INVENTORIES:

1. Raw materials are valued at cost is ascertained on first in first out basis

2. Financial goods are valued at lower of cost or net realizable value cost includes related overheads & taxes & duty paid/payable on such goods.

3 Waste is valued at estimated realizable value.

4. Stock in process is valued at cost including overheads.

1.4 EMPLOYEES BENEFITS:

1 Contribute to provident fund and employees state insurance are -t applicable to company.

2. No provision is made against gratuity as there is no liability accrued as on 31.03.2013.

3. Liability for leave is treated as a short term liability and is accounted for as and when earned by the employee.

1.5 REVENUE RECOGNITION:

a) Interest/Dividend is recognized on accrual basis, subject to note no. 25 below.

b) Sale of goods is reaped at the dispatch of finished goods to the customers.

1.6 OPERATING LEASES:

Lease rentals in respect of assets taken on ''Cancelable operating lease''" are charged to Profit & Loss Account on straight- line basis over the lease term.

1.7 TAXES ON INCOME:

Current tax is determined as the amount of tax payable in respect of taxable income for the year Deferred tax is recognized, on timing differences, being the difference between taxable incomes and accounting income that originate in one period and deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future.

1.8 INVESTMENTS:

Investments are valued at cost.

1.9 BORROWING COSTS:

Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized till the date the assets are put to use. All other borrowing costs are charged to revenue.

1.10 EARNING PER SHARE:

The basic and diluted earnings per share ("EPS") is calculated by dividing the profit / (loss) after tax bv the weighted average number of Equity Share outstanding. Diluted earnings per share is computed by dividing net profits for the year, adjusted for the effects of dilutive potential equity Shares attributable to the Equity shareholders by the weighted average number of the equity shares and dilutive potential equity shares outstanding during the year except where the results are anti dimmed, Dilutive potential equity shares are deemed converted as of the beginning of the year, unless they have been issued at a later date.

1.11 PROVISIONS AND CONTINGENCIES:

A provision is recognized when the company has a present legal or constructive obligation as a result of past event and I is probable that an outflow of resources will be required to settle the ob ligation in respect of which reliable estimate can be made. Provisions (excluding retirement benefits) are not discounted to its present value and are determined based on best estimate required to settle the oblivion alto balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. Contingent liabilities are not recognized but are disclosed in the notes to the financial statement. A contingent asset is neither recognized nor disclosed.

b) Terms/ rights attached to equity shares

The company has only one class of equity share having a per value of Rs. 10 per share All these have the same rights and preferences with respect to payment of dividend repayment of capital and voting The Bonus or dividend shall be distributed among the members in proportion to the amounts paid or credited as paid on the shares held by the members.

In the event of liquidation of the company the holders of 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 capital paid up or which ought to have been paid up at the commencement of the winding op on the shares held by the shares holders.

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Mar 31, 2012

1.1 ACCOUNTING CONVENTION:

The Financial Statements are prepared on a going concern basis under the Historical Cost convention on accrual basis in accordance with the applicable accounting standards issued by the Institute of Chartered Accountants of India (unless otherwise mentioned) and the relevant presentational requirements of the Companies Act, 1956.

1.2 FIXED ASSETS AND DEPRECIATION:

A) The fixed assets are stated at cost less accumulated depreciation thereon. Cost of acquisition in inclusive of freight, duties, taxes and other incidental expenses.

B) Depreciation is charged on straight line method at the rates and in the manner laid down in schedule XIV to the Companies Act, 1956. Pro-rata depreciation is charged on fixed Assets added/disposed off/discharged during the year with reference to the month in which the addition/disposal/discarding takes place.

1.3 INVENTORIES:

1. Raw materials are valued at lower of cost. Cost is ascertained on first in first out basis.

2. Finished goods are valued at lower of cost or net realizable value. Cost includes related overheads & taxes & duty paid/payable on such goods.

3. Waste is valued at estimated realizable value.

4. Stock in process is valued at cost including overheads.

1.4 EMPLOYEES BENEFITS:

1. Contribution to provident fund and employees state insurance are not applicable to company.

2. No Provision is made against gratuity as there is no liability accrued as on 31.03.2012.

3. Liability for leave is treated as a short term liability and is accounted for as and when earned by the employee.

1.5 REVENUE RECOGNITION:

a) Interest/Dividend is recognized on accrual basis, subject to note no. 7 below.

b) Sale of goods is recognized at the dispatch of finished goods to the customers.

1.6 OPERATING LEASES:

Lease rentals in respect of assets taken on ‘Cancelable operating lease" are charged to Profit & Loss Account on straight- line basis over the lease term.

1.7 TAXES ON INCOME:

Current tax is determined as the amount of tax payable in respect of taxable income for the year. Deferred tax is recognized, on timing differences, being the difference between taxable incomes and accounting income that originate in one period and deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future.

1.8 INVESTMENTS:

Investments are valued at cost.

1.9 BORROWING COSTS:

Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized till the date the assets are put to use. All other borrowing costs are charged to revenue.

1.10 EARNING PER SHARE:

The basic and diluted earning per share ("EPC") is calculated by dividing the profit / (loss) after tax by the weighted average number of Equity Share outstanding. Diluted earnings per share is computed by dividing net profits for the year, adjusted for the effects of dilutive potential equity Shares, attributable to the Equity shareholders by the weighted average number of the equity shares and dilutive potential equity shares outstanding during the year except where the results are anti dilutive. Dilutive potential equity shares are deemed converted as of the beginning of the year, unless they have been issued at a later date.

1.11 PROVISIONS AND CONTINGENCIES:

A provision is recognized when the company has a present legal or constructive obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation, in respect of which reliable estimate can be made. Provisions (excluding retirement benefits) are not discounted to its present value and are determined based on best estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. Contingent liabilities are not recognized but are disclosed in the notes to the financial statement. A contingent asset is neither recognized nor disclosed.

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Mar 31, 2010

1.1 ACCOUNTING CONVENTION:

The Financial statements are prepared on a going concern basis under the Historical cost convention on accrual basis in accordance with the applicable accounting standards issued by the Institute of Chartered Accountants of India (unless otherwise mentioned) and the relevant presentational requirements of the Companies Act, 1956.

1.2 FIXED ASSETS AND DEPERCIATION

(A) The fixed assets are stated at cost/revalued figure less accumulated depreciation thereon. Cost of acquisition is inclusive of freight, duties, taxes and other incidental expenses.

(B) Depreciation is charged on straight line method at the rates and in the manner paid down in schedule XIV to the Companies Act, 1956. Pro - rata depreciation is charged on fixed Assets added/disposed off/discarded during the year with reference to the month in which the addition/disposal/discarding takes place.

1.3 INVENTORIES:

1. Raw materials are valued at lower of cost or net realizable value.

2. Finished goods are valued at lower of cost or net realizable value. Cost includes related overheads & taxes & duty paid/payable on such goods.

3. Waste is valued at estimated realizable value.

4. Stock in process is valued at cost including overheads.

1.4 RETIREMENT BENEFITS

Contribution to Provident Fund and Employees state Insurance are not applicable to company. No Provision is made against gratuity as there is no liability accrued as on 31.03.2010

1.5 REVENUE RECOGNITION

a) Interest/Dividend are recognized on accrual basis, subject to note no. 7 below. .

b) Sales of goods is recognized at the dispatch of finished goods to the customers.

1.6 CONTINGENT LIABILITIES

Provision is made for all known liabilities except contingent liabilities which are disclosed at their estimated value wherever applicable.

1.7 TAXES ON INCOME

Current tax is determined as the amount of tax payable in respect of taxable income for the year. Deferred tax is recognized, on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more .subsequent periods. Deferred tax assets are recognized only to the extent there is reasonable certainty of realization in future.

1.8 INVESTMENTS

Investments are valued at cost