Accounting Policies of Lloyds Finance Ltd. Company

Mar 31, 2013

1. Accounting Convention:

The Company has stopped its fund based and non- fund based activities w.e.f. 14th May, 1998 as per restriction imposed by Reserve Bank of India vide its letter No. DNBS (MRO).No.4551/02.04. Lloyds/97-98. The accounts for the year have been prepared on the assumption of a going concern basis in view of the ongoing efforts being made by the Company for recovery and repayment of dues.

2. Expenses:

All the expenses are provided on accrual basis.

3. Revenue:

As mentioned above, the Company has stopped its Fund and Non-fund based activities. Accordingly there is no operating income. The other income shown in accounts like interest, penalty, dividend etc. are accounted for on cash basis. In respect of accounts written off in earlier years, the company is recognizing revenue as and when actual amount is received.

4. Retirement Benefits:

The Gratuity is accounted for on accrual basis.

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Mar 31, 2012

1. Accounting Convention :

The Company has stopped its fund based and non- fund based activities w.e.f. 14th May, 1998 as per restriction imposed by Reserve Bank of India vide its letter No. DNBS (MRO).No.4551/02.04. Lloyds/97- 98.The accounts for the year have been prepared on the assumption of a going concern basis in view of the ongoing efforts being made by the Company for recovery and repayment of dues.

2. Expenses :

All the expenses are provided on accrual basis.

3. Revenue :

- As mentioned above, the Company has stopped its Fund and Non-fund based activities. Accordingly there is no operating income. The other income shown in accounts like interest, penalty, dividend etc. are accounted for on cash basis. In respect of accounts written off in earlier years, the company is recognizing revenue as and when actual amount is received.

4. Retirement Benefits :

The Gratuity is accounted for on accrual basis.

5. Investments :

Investments of the Company are valued as under -

(i) Unquoted - At cost

(ii) Government and - At cost Trustee Securities

(iii) Stock - in - Trade - At cost or Market Value

whichever is lower, scripwise

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Mar 31, 2011

1. Accounting Convention :

The Company has stopped its fund based and non- fund based activities w.e.f. 14th May, 1998 as per restriction Imposed by Reserve Bank of India vide its letter No. DNBS (MRC).No.4551/02.04. Lloyds/ 97-98 The accounts for the year have been prepared on the assumption of a going concern basis in view of the ongoing efforts being made by the Company for recovery and repayment of dues.

2. Expenses :

All the expenses are provided on accrual basis.

3. Revenue :

As mentioned above, the Company has stopped its fund and non-fund based activities. Accordingly there is no operating income The other income shown in accounts like interest, penalty, dividend etc. are accounted for on cash basis. In respect of accounts written off in earlier years, the Company is recognizing revenue as and when actual amount is received.

4. Retirement Benefits :

The Gratuity is accounted for on annual basis.

5. Investments :

Investments of the Company are valued as under -

(i) Unquoted - At cost

(ii) Government and Trustee - At cost Securities

(iii) Stock - in - Trade - At cost or Market Value whichever is lower, scripwise

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Mar 31, 2010

1. Accounting Convention :

The Company has stopped its fund based and non-fund based activities w.e.f. 14th May, 1998 as per restriction imposed by Reserve Bank of India vide its letter No. DNBS (MRO).No.4551/02.04. Lloyds/97-98.The accounts for the year have been prepared on the assumption of a going concern basis in view of the ongoing efforts being made by the Company for recovery and repayment of dues.

2. Expenses :

All the expenses are provided on accrual basis.

3. Revenue :

As mentioned above, the Company has stopped its Fund and Non-fund based activities. Accordingly there is no operating income.The other income shown in ¦ accounts like interest, penalty, dividend etc. are accounted for on cash basis.

4. Retirement Benefits :

The Gratuity is accounted for on accrual basis.

5. Investments :

Investments of the Company are valued as under -

(i) Unquoted - At cost

(ii) Government and Trustee Securities - At cost

(iii) Stock - in - Trade - At cost or

Market Value

whichever is

lower, scripwise