2010-11 - Grasim

DAKSHIN CEMENTS LIMITED
Schedule - 5
NOTES ON ACCO
CCOUNTS
1. Significant Accounting Policies:
The Company maintains its accounts on accrual basis following the historical cost convention in accordance
with generally accepted accounting principles (“GAAP”) and in compliance with the accounting standards
referred to in Section 211 (3C) and other requirements of the Companies Act, 1956, to the extent applicable.
2. As the Company has not yet started commercial operation no Profit & Loss Account has been prepared.
The statement showing the unallocated, pre- operative expenditure incurred up to 31 st March 2011 is shown
in Schedule - 2.
3. The pre-operative expenditure as under pending allocation will be allocated to appropriate fixed assets on
commencement of the commercial production:
Incidental expendit
xpenditure pending allocation/capitalisation
alisation
As at
As at
31 st March,
31 st March,
2011 2010
Rupees
Rupees
Travelling and conveyance 134,629 134,629
Subscription 1,000 1,000
Survey expenses 90,750 90,750
Testing charges 8,000 8,000
Consultancy Charges 589,048 2,500
Auditors’s remuneration 85,445 79,930
Printing & Stationery 3,764
3,764
Office expenses 2,745
2,745
Bank charges 13,022 11,831
Directors sitting fees 7,50
,500 7,500
Filing fees 33,770 33,770
Royalty/dead rent 2,096,280 1,516,598
Legal fees 287,0
,000 287,000
Interest 30,641 12,081
Miscellaneous expenses 26,885 26,885
Tot
otal
3,410,479
2,218,983
4) Contingent liabilities - Nil.
5) Previous year figures have been regrouped wherever necessary.
Signature to Schedule 1 to 5
As per our report attached.
For G. P. Kapadia & Co.
Chartered Accountants
ATUL B. DESAI K. C. BIRLA O. P. PURANMALKA
Partner Director Director
Membership No. 30850
Mumbai, April 18, 2011
100