| 1) Parties balance under trade receivable payable advances and secured
loans from ICBI Bank ltd are subject to confirmation
2) Contingent liability regarding sale tax income tax or any will arise
at the time of assets and the details of other contingent
Current year Previous year
a) EXCISE DUTY 1,079,720.00 1,079,720.00
B) CIVIL Noor mohd (worker) 35,000.00 35,000.00
c) Income tax (A.Y.2008-09) nIL 1,377,218.00
on historical cost basis and are consistent with the generally
accounting principles. .
In accordance with the schedule VI of the Companies Act, 19S6.
3. INVENTORIES
Traded Goods are valued at Cost price, if any.
finished mud Is accounted for on durance 0, 9oods from the factory
premises and VAT is payable on the sales of by the company.
*are neither recognized nor disclosed in the financial statements.
dost that are dimity attributable. too the .caption or Construction of
that Capital asset. Other borrowing Costs are recognized as an expense
in the period in which they are incurred.
4. TMPTRMENT OF ASSETS indication that an asset may be impaired. If any
such indication
The Company assesses at each balance sheet date whether there is any
amount of the asset or the recoverable amount ex1sts,the company
estimates the recoverable amount of the tassel If sui nether carrying
amount is reduced to its recoverable of the cash generating unit to
which the asset belongs issue" there this profit & Loss account. If at
the balance sheet date amount. This reduction is treated as an
impairment loss 9. exists the recoverable amount is reassessed and the
asset there is an indication that if a previously assessed impairment
loss no longer exists, the recovered a is reflected at the
recoverable amount.
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