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મેક્સિમા સિસ્ટમ્સ

બીએસઈ: 526538  |  ઍનઍસઈ : N.A  |  ISIN: INE161B01036  |  Trading

શોધો મેક્સિમા સિસ્ટમ્સ કનેક્શન � માર્ચ 14
એકાઉન્ટીંગ નીતિ વર્ષ : માર્ચ '15
 1 General :
 
 These financial statements have been prepared in accordance with the
 generally accepted accounting principles in india under the historical
 cost convention on accrual basis. Pursuant to circular 15/2013dated
 13-9-2013 read with circular 08/2014 dated 4-4-2014, till the stan-
 dards of Accounting or any addendum there to are prescribed by Central
 Government in con- sultation and recommendation of the National
 Financial Reporting Authority, the existing Ac- counting Standards
 notified under the Companies Act, 1956 shall continue to
 apply.Consequently, these financial statements have been prepared to
 comply in all material aspects with the Accounting Standards notified
 under section 211(3C) ( Companies Account- ing Standards) Rules, 2006,
 as amended) and other relevant provisions of the Companies Act,1956.
 
 All the asstes and liabilities have been classified as current and non
 current as per the Company''s normal aperating cycle and other criteria
 set out in Schedule VI of the Companies Act,1956. Based on the nature
 of products and the time between the acqusition of assets for
 processing and their realisation in cash and cash equivalent, the
 Company has ascertained its operating cycle to be 12 months for purpose
 of current - non current clasification of assets and liabilities.
 
 2 Recognisation of Income and Expenditure :
 
 i Revenues / Incomes and Costs / Expenditure are generally accounted on
 accrual, as they are earned or incurred.
 
 ii Sale of Goods is recognised on transfer of significant risks and
 rewards of ownership which is generally on the dispatch of goods.
 
 3 Use of Estimates:
 
 The preparation of financial statements in confirmity with generally
 accepted accounting prin- ciples requires estimates and assumptions to
 be made that affect the reported amounts of assets and liabilities on
 the date of the financial statements and the reported amounts of
 revenues and expenses during the reporting period. Difference between
 actual results and estimates are recognised in the period in which the
 results are known/ materialised.
 
 4 Fixed Assets :
 
 i Land Free Hold - At Cost
 
 ii Other Fixed Assets - At Cost less Depreciation
 
 ''Cost'' for the aforesaid purpose comprises of its purchase price and
 attributable cost for bringing the asset to its working condition for
 its intended use.
 
 5 Depreciation :
 
 i Depreciation on Fixed Assets is provided on Straight Line Method in
 accordance with the provisions of Company Act, 1956 at the rates
 specified in Schedule XIV of the Companies Act 1956, as revised by GSR
 No.756(E) Dated 10.12.93 by the Central Government, except in case of
 following Assets, which are amortised over the period as estimated by
 the management, as under. :-
 
 Nature of Assets                        Period of Amortisation
 
 Goodwill ( Generated in Amalgamation)          5 years
 
 Patents                                        15 years
 
 Trademark, Formulation etc                     15 years
 
 ii Depreciation on Fixed Assets acquired during the year is provided
 from the month in which assets is put to use.
 
 iii Plant & Machinery acquired during the year but not put to use are
 shown as Capital Work- In-Progress and no depreciation is claimed
 thereon.
 
 iv Depreciation on Fixed Assets dispossed off during the period under
 consideration is pro- vided up to the month of dispossal.
 
 6 Investments :
 
 Non- current investments are stated at cost.
 
 7 Provision, Contingent Liabilities and Contingent Assets
 
 Provisions involving substantial degree of estimation in measurement
 are recognised when there is a present obligation as a result of past
 events and it is probable that there will be an outflow of resources.
 Contingent Liabilities are not recognised but are disclosed in the
 notes.  Contingent Assets are neither recognised nor disclosed in the
 financial statements.
 
 8 Impairment of Assets
 
 Impairment loss is provided to the extent the carrying amount(s) of
 assets exceed their recovereble amount. Recoverable amount is the
 higher of an asset''s net selling price and its value in use. Value in
 use is the present value of estimated future cash-flows expected to
 arise from the continuing use of the asset and from its disposal at the
 end of its useful life. Net selling price is the amount obtainable from
 sale of the asset in an arm''s length transaction between knowledgeable,
 willing parties, less the costs of disposal.
 
 9 Inventories
 
 Items of inventory are valued at Cost or Net Reaslizable Value,
 whichever is lower. Cost is determined on the following basis. :-
 
 Raw Materials, Stores and Spares                 FIFO
 
 Work In Process and Finished Goods    At material cost plus appropriate
                                             value of overheads
 
 Trading Goods                                     FIFO
 
 10 Retirement Benefitis to Employees
 
 i The Company contributes towards Provident Fund and Family Pension
 Fund, which are defined contribution schemes. Liability in respect
 thereof is determind on the basis of contribution as required under the
 statutes / rules.
 
 ii Gratituty laibility as on 31-03-2015 has been recognised in Balance
 Sheet. No provision is required to be made for leave encashment.
 
 11 Foreign Currency Transactions
 
 T ransactions in foregion currency are recorded at the original rates
 of exchange in force at the time transactions are effected. At the
 year-end, monetary items denominated in foreign cur- rency and exchange
 contracts are reported using closing rates of exchange. Exchange
 differ- ences arrising thereon and on realization of foreign exchange
 are accounted in the relevant year, as income or expense.
 
 12 Taxes on Income
 
 Tax expense comprises of both current and deferred tax at the applicable
 enacted / substan- tively enacted rates. Current tax represents the
 amount of income-tax payable in respect of the taxable income for the
 reporting period. Deffered tax represents the effect of cuttrnt year
 timing differences between taxable income and accounting income for the
 reporting period that originate in one period and are capable of
 reversal in one or more subsequent periods.
 
 Deferred Tax Assets are recognised only to the extent that there is a
 reasonable certainty that sufficient future Taxable Income will be
 available against which such Deferred tax Assets can be realised. In
 absence of reasonable certainty, Deferred Tax Asset worked out as under
 has not been recognised. :-
 
 Deferred Tax Liabilities                    31-03-2014      31-03-2013
 
 Related to Fixed Assets                      3,066,693       4,165,668
 
 Deferred Tax Assets
 
 Related to Disallowance under
 income tax Act, 1961                         1,537,192        265,479
 
 Related to Carried forward Losses
 & Unabsorbed Depreciation                   23,563,155     22,626,622
 
 Net Deferred Tax Assets                     22,033,654     18,726,433
 
 13 The accounts of customers / suppliers are under reconciliation /
 confirmation and the same have been taken as per balances appearing in
 the books. Any difference arising on account of such reconciliation,
 which are not likely to be material , will be accounted for as and when
 these reconciliation are completed.
 
 14 Previous year''s figures have been regrouped / reclassified wherever
 considered necessary.
 
 
 
સ્તોત્ર: રેલીગેર ટેકનોવા


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