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श्रद्धा टेरी प्रोडक्ट्स

बीएसई: 514422  |  NSE: N.A  |  ISIN: INE167G01016  |  Textiles - Terry Towels

खोजें श्रद्धा टेरी प्रोडक्ट्स कनेक्शन
लेखांकन नीति साल : मार्च '03
1 Significant accounting policies:
 
 A.  Basis of preparation of financial statements.
 
 a.  The financial statements have been prepared under the historical
 cost convention in accordance with the generally accepted principles
 and provisions of the Companies Act, 1956 as adopted consistently by
 the company.
 
 b.  The company generally follows mercantile system of accounting and
 recognises significant items of income and expenditure on accrual
 basis.
 
 c.  The accounts are prepared on the basis of going concern concept.
 
 B.  Fixed Assets
 
 Fixed assets are stated at cost of acquisition or construction less
 depreciation. All costs relating to acquisition and installation of
 fixed assets are capitalised.
 
 C.  Depreciation
 
 Depreciation on fixed assets has been charged under straight line
 method as per Schedule XIV to the Companies Act, 1956.
 
 D.  Inventories are valued as follows:
 
 Inventories are valued at lower of cost or net realisable value except
 waste produced. Waste is valued at net realisable value.
 
 The Cost formula used:
 
 Raw materials                          Specific identification method.
 Process Stock, Finished goods          Average cost method.
 Spares & Components and Fuel           Weighted average method.
 
 E.   Foreign Currency transactions:
 
 Transactions in foreign currencies are recorded at the exchange rates
 prevailed on the respective dates of the relevant transactions.
 
 Exchange difference in transaction of Foreign Currency liabilities for
 acquisition of fixed assets are adjusted to the cost of relevant fixed
 assets.
 
 F.  Preliminary expenses and share issue expenses Preliminary expenses
 and share issue expenses are amortized over a period of ten years.
 
 G.  Gratuity liability have been provided in the books on actuarial
 basis.  H.  Sales reported is exclusive of sales tax amounting to Rs.
 413 thousands.
 
 2.  A.  The term loans sanctioned by Bank of India and the Vysya Bank
 Limited are secured by first charge on the fixed assets of the company
 and a second charge on stock of raw materials, stock in process and
 finished goods of the company.  B.  The term loans sanctioned by Bank
 of Boroda and State Bank of Travancore are secured by a pari- passu
 first charge by way of hypothecation of movable plant and machinery
 acquired out of these
 term loans.
 
 C.  The working capital credit facility availed from Bank of India is
 secured by hypothecation of stock of raw materials, stock in process
 and finished goods of the company and a pari-passu second charge on the
 fixed assets of the company.  D.  The working capital credit facilities
 availed from Bank of Baroda and State Bank of Travancore are secured by
 hypothecation of stock of raw materials, stock in process and finished
 goods of the company.  E.  The Managing Director and two Directors of
 the company have given personal guarantee to Bank of India, Bank of
 Baroda and State Bank of Travancore for the working capital facilities
 to the extent of Rs. of Rs. 40 90 00 thousands. (Prior year: Rs. 13 80
 00 thousands).
 
 F.  The Managing Director and two Directors of the company have given
 personal guarantee to Bank of India (BOI), The Vysya Bank Limited
 (VBL), Bank of Baroda (BOB) and State Bank of Travancore (SBT) for the
 term loan facilities to the extent of Rs. 312100 thousands (Prior year:
 Rs. 4 61 25 thousands (BOI).
 
 
                                     As per our report of even date
                                       For GOPALAIYER & SUBRAMANIAN
 
                                         Chartered Accountants
                                              R MAHADEVAN
 
 Coimbatore                                      Partner
 June 29, 2003                            
 
 G KANNAPPAN
 Chairman and Managing Director
 
 G VIJAYAKUMAR
 Director
 
 K Jayaraj
 General Manager-Finance and Company Secretary
स्रोत: रेलीगरे टेचनोवा

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  • NEWS FLASH EVE : JMC Projects को `1363 Cr के ऑर्डर मिले

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