Accounting Policies of Rajesh Solvex Ltd. Company

Mar 31, 2013

(A) ACCOUNTING CONVENTION

The financial statements have been prepared to comply in all material respects with the mandatory Accounting Standards issued by the Institute of Chartered Accountants of India and the relevant provisions of the Companies Act. 1956. The financial statements have been prepared under the historical cost convention on accrual basis. The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year. However Company has not been provided deffered tax liability in the books of accounts as per A.S. 22

(B) FIXED ASSETS

Fixed Assets stated in their original cost of acquisition/ installation and are shown net of depreciation.

(C) DEPRECIAITON

Depreciation is provided as per Note - 6 of the Companies Act 1956 on Straight Line Method.

(D) INVESTMENTS

Investments are shown at cost.

(E)INVENTORIES

Inventories are valued at cost or market value whichever is lower.

(F) SALES

Total sales was Rs. 203,343,407/-, however, during the Previous Year 2012-13, own production was done till July.

Thereafter plant was closed for maintenance till mid-march and in the second half of March, production was resumed as job work.

(G) Balances in Sundry Debtors, Sundry Creditors and other balances with third parties are subject to confirmations.

(H) MANAGERIAL REMUNERATION -

No Managerial remuneration was paid this year also.