| 1. Retirement Benefits . AS-15
NO provision for gratuity, leave salary & retirement benefits have been
made as there, is no Liability.
2. Accounting for Investments AS-13
Long Term Investments are valued at cost .No provision is made for
diminution in value.
3. In the opinion of the Management, the aggregate value of current
Assets, Investments & Loans and Advances on realization will not be
less than the amount stated in the books of accounts.
Cash balance amounting to Rs.25,01,143 at the year end is subject to
verification.
4. Accounting for Taxes on Income AS-22
Deferred Tax Asset on brought forward losses has not been recognised as
management is not reasonably certain that future income would off set
the same.
5. Carrying amount of Cash Generating Assets is reviewed for
impairment. Impairment - ,if any, is recognized where the carrying
amount exceeds the recoverable amount being the higher of net
realizable price and value in use.
6. The company has given a portion of shed on lease and the lease
rental amount of Rs.4,70,000 has only been received during the year.
7. Previous Year figures have been recasted wherever necessary.
8. Schedule 1 to 10 forms an integral part of the accounts and have
been duly authenticated.
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