NOTE NO : 1 SIGNIFICANT ACCOUNTING POLICIES:

A) GENERAL:

i) The financial statements are brpared on historical cost basis in accordance with applicable Accounting Standards and on accounting principles of a going concern. These financial statements have been brpared to comply with all material aspects with the accounting standards notified under section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014 and the other relevant provisions of the Companies Act, 2013 (the "Act").

ii) All Expenses and Income to the extent considered payable and receivable respectively with reasonable certainty, unless specifically stated to be otherwise, are accounted for on accrual basis.

iii) All assets and liabilities have been classified as current or non-current as per the Company's normal operating cycle and other criteria set out in the Schedule III to the Act. Based on the nature of products and the time between the acquisition of assets for processing and their realization in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current classification of assets and liabilities.

B) FIXED ASSETS:

i) Tangible Assets are stated at cost of acquisition inclusive of all attributable cost of bringing the same to their working condition, net off accumulated debrciation and accumulated impairment losses, if any. Subsequent expenditures related to an item of tangible asset are added to its book value only if they increase the future benefits from the existing asset beyond its brviously assessed standard of performance.

ii) Expenditure related to and incurred during implementation of the project is capitalized under the appropriate heads on completion of the projects.

C) DEbrCIATION

Debrciation is calculated on the basis of useful life as brscribed in Schedule II to the Act. Plant & Machinery 15 years

Motor Cycle 10 years

D) INVESTMENTS

Long Term Investment are stated at cost. Provision for fall in the value is made only in case of permanent diminution.

E) RETIREMENT BENEFITS:

Gratuity / Leave encashment liability are determined on yearly basis.

F) TREATMENT OF CONTINGENT LIABILITY: -

Contingent liabilities which are material and whose future outcome cannot be ascertained with reasonable certainty are treated as contingent.

G) GOVERNMENT GRANTS

i) Grants relating to fixed assets in the nature of Projects Capital Subsidy are credited to respective assets account.

ii) The capital incentive received by the Company with reference to its total investment in an undertaking or by way of contribution towards its total capital outlay and when no repayment is expected, in such cases grants received are directly credited to the Capital Reserve.

H) BORROWING COST:

Borrowing cost directly attributable to acquisition, construction, production of qualifying assets are capitalized as a part of the cost of such assets up to the date of completion. Other borrowing costs are charged to Statement of Profit and Loss.

I) TAXATION

i) Provision for current tax is made and retained in the accounts on the basis of estimated tax liability as per the applicable provisions of the Income Tax Act, 1961.

ii) Deferred Tax for the timing difference between tax profits and book profits is accounted for using the tax rates and laws that have been enacted or substantially enacted as of the Balance Sheet date. Deferred tax assets are recognized to the extent there is reasonable certainty that these assets can be realized in future and are reviewed for the appropriateness of their respective carrying values at each Balance Sheet date.

J) EARNING PER SHARE

Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. Earnings considered in ascertaining the Company's earnings per share is the net profit for the year attributable to equity share holders. The weighted average number of equity shares outstanding during the year and for all years brsented is adjusted for events, such as bonus shares, other than the conversion of potential equity shares, that have changed the number of equity shares outstanding, without a corresponding change in resources. For the purpose of calculating diluted earnings per share, the net profit or loss for the year attributable to equity shareholders and the weighted average number of shares outstanding during the year is adjusted for the effects of all dilutive potential equity shares.

NOTES – 1

In the opinion of the Board, Current Assets, Loans and advances are approximately of the value stated, if realized in the ordinary course of business.

NOTES - 2

a) The Company's income being agricultural income, the Company does not expect any liability for income tax.

b) In view of agriculture income being earned by the Company which is exempt from levy of Income Tax; despite of being carried forward losses and unabsorbed debrciation, no deferred tax assets have been recognized as a matter of prudence.

NOTES - 3

The Company has singlere portable segment namely Farming Activity for the purpose of Accounting Standard 17 on Segment Reporting, therefore, the information related to Segmental Reporting has not been provided.

NOTES - 4

(i) In the opinion of the Board, fixed assets have been stated at cost, which is at least equal to or less than the realizable value if sold in the ordinary course of business. Consequently, the management is of the opinion that there is no impairment of assets.  

5. Previous year's figures have been re-grouped/rearranged wherever necessary to confirm to the current year's brsentation

Akash Kagliwal :

Whole time Director DIN-01691724

Satish Kagliwal :

Director DIN:-00119601

Reshma Talbani: Director

Company Secretary

Place : Aurangabad

Date : 30th May, 2016