Annual Report - Brandhouse Retails

BRANDHOUSE
R E T A I L S
8 TH ANNUAL REPORT 2011-12
11. Foreign Currency Transactions / Fluctuations
i. Foreign Exchange transactions are recorded as per the rates prevailing on the dates of transactions and at year
end are restated at rate as on Balance sheet date.
ii. Resultant Foreign exchange gain/ loss on restatement of assets / liabilities are charged to the Profit & Loss Account.
12. Earnings per Share
In determining earnings per share, the Company considers the Net Profit after Tax and includes the post tax effect of
any extraordinary items. The number of shares used in computing basic earnings per share is weighted average number
of shares outstanding during the period.
For the purpose of computing diluted earnings per share, the net profit attributable to equity shareholders and the
weighted average number of shares outstanding are adjusted for the effects of all dilutive potential equity shares from
exercise of options on un- issued share capital.
13. Provisions, Contingent Liabilities & Contingent Assets
Disputed liabilities and claims against the Company including claims raised by various revenue authorities (eg. Sales
Tax, Income Tax, Excise etc.), pending in appeal/court for which no reliable estimates can be made of the amount of
the obligation or which are remotely poised for crystallisation are not provided for in accounts but disclosed in Notes
on Accounts.
However, present obligation as a result of past event with possibility of outflow of resources, when reliably estimable,
is recognised in accounts.
A contingent asset is neither recognised nor disclosed in the financial statements.
14. Segment Reporting Policies
The Company prepares its segment information, in conformity with the accounting policies adopted for preparing and
presenting the financial statements of the Company as a whole.
15. investments
Investments that are readily realisable and intended to be held for not more than a year are classified as current
investments. All other investments are classified as Non Current investments. Current investments are carried at lower of
cost and fair value determined on an individual investment basis. Non Current investments are carried at cost. However,
provision for diminution in value is made to recognise a decline other than temporary in the value of the investments.
16. Cash & Cash Equivalents
Cash and Cash equivalents for the purpose of cash flow statement comprise cash at bank and in hand and short-term
investments with an original maturity of three months or less.
17. Leases
Leases where the lessor effectively retains substantially all the risks and benefits of ownership over the leased term are
classified as operating leases. Operating lease rentals are recognised as an expense, as applicable, over the lease
period.
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Consolidated Notes to Financial Statements