Accounting Policies of Zenith Capitals Ltd. Company

Mar 31, 2018

1. Significant Accounting Policies

a) Accounting Convention

The Financial Statements have been prepared under the historical cost convention, on accrual basis to comply in all material respects with all applicable accounting principles in India, the applicable Accounting Standards notified under by Companies Act, 2013 and the relevant provisions of the Companies Act, 2013.

Since the company is a Non Banking Finance Company, the Indian Accounting Standards Ind AS shall be applicable to the company effective from accounting period beginning on April 1, 2019.

b) Use of Estimates

The preparation of the financial statements in conformity with the generally accepted accounting principles requires the management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying financial statements are based upon management''s evaluation of the relevant facts and circumstances as of the date of the financial statements. Actual results may differ from the estimates and assumptions used in preparing the accompanying financial statements. Any differences of actual results to such estimates are recognized in the period in which the results are known / materialized.

c) Investments

The Investments are classified as Quoted & Unquoted Investments.

i. Long term Investments are stated at cost less provision for permanent diminution in value of such investments.

ii. Current Investments are stated at lower of cost and fair market value, determined by category of investments.

d) Revenue Recognition

i. Income from Operations: Revenues for the year are recognized on accrual basis.

ii. Other Income: Other Income and expenses are recognized on accrual basis, while dividend on shares & securities is recognized when right to receive the dividend is established.

e) Borrowing Costs

Interest and other costs incurred in connection with borrowing of the funds are charged to revenue on accrual basis.

f) Taxation

As the company has incurred loss in the current year, no provision for income tax has been made.

2. Foreign Currency Transactions

The company has neither earned nor incurred expenditure in foreign currency.

3. The disclosure under Section 22 of Micro, Small and Medium Enterprises Development Act, 2006 is not applicable to our company as we are neither a trading nor a manufacturing company and accordingly do not have any such suppliers.

4. The Company is engaged in the business of Non-Banking Financial Institution. This in context of Accounting Standard 17 (AS 17) on Segment Reporting issued by Institute of Chartered Accountants of India are considered to constitute one single primary segment.

5. Disclosure requirements as per Accounting Standard 18 (AS-18) "Related Party Disclosure" issued by the Institute of Chartered Accountants of India

i. List of Related Parties :

a) Parties Where Control Exists: NIL

b) Associate companies where managing directors or relatives of managing director are Directors: NIL

c) Key Management Personnel: Mr. Mayur Jamdhade (Director)

There were no transactions with any of the related parties during the financial year under consideration.

6. As per Accounting Standard 20 "Earning Per Share" issued by Institute of Chartered Accountant of India the Company gives following disclosure for the year. The earnings considered in ascertaining the Company''s EPS comprises the net profit after tax (after providing the post tax effect of any extra ordinary items). The number of shares used in computing Basic EPS is the weighted average number of equity shares outstanding during the year.

Basic and Diluted Earnings Per Share		2017-18	2016-17
Profit / Loss after tax (Rs. in lacs)	(A)	(7.46)	(4.29)
Weighted Avg. No. of Shares (No. in lacs)	(B)	19.20	19.20
Earnings Per Share (Rs.)	(A/B)	(0.39)	(0.22)

7. Provisions and Contingencies

The company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that probably will not require an outflow of resources or where a reliable estimate of the obligation cannot be made.

8. Prior Period Items

There are no prior period items during the year.

9. The figures of the previous year have been regrouped and recast wherever necessary to confirm to the groupings of the current year.

For RSVA & Co.,	By order of the Board
Chartered Accountants
Sd/-	Sd/-	Sd/-
S Shamaladevi	Mayur Jamdhade	Y A Rathiwadekar
Partner	Director	Director
MRN: 202061	DIN: 06703119	DIN: 05118481
Place: Mumbai		Place: Mumbai
Date: 30th May, 2018		Date: 30th May, 2018

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Mar 31, 2014

A) Accounting Convention

The Financial Statements have been prepared under the historical cost convention, on accrual basis to comply in all material respects with all applicable accounting principles in India, the applicable Accounting Standards notified under Section 211(3C) of the Companies Act, 1956 and the relevant provisions of the Companies Act, 1956.

b) Use of Estimates

The preparation of the financial statements in conformity with the generally accepted accounting principles requires the management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying financial statements are based upon management''s evaluation of the relevant facts and circumstances as of the date of the financial statements. Actual results may differ from the estimates and assumptions used in preparing the accompanying financial statements. Any differences of actual results to such estimates are recognized in the period in which the results are known / materialized.

c) Inventories

The company does not hold any inventory during the period under Audit.

d) Investments

The Investments are classified as Quoted & Unquoted Investments.

i. Long term Investments are stated at cost less provision for permanent diminution in value of such investments.

ii. Current Investments are stated at lower of cost and fair market value, determined by category of investments. .

e) Revenue Recognition

i. Income from Operations: Revenues for the year are recognized on accrual basis.

ii. Other Income: Other Income and expenses are recognized on accrual basis, while dividend on shares & securities is recognized when tight to receive the dividend is established.

f) Borrowing Costs

Interest and other costs incurred in connection with borrowing of the funds are charged to revenue on accrual basis.

g) Taxation

A provision for current income tax is made on the taxable income using the applicable tax rates and tax laws.

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Mar 31, 2012

1.1 METHOD OF ACCOUNTING:

The accounts are prepared on historical cost basis and income and expenditure are recognised on accrual basis and as per the RBI guidelines applicable to NBFC's.

1.2 FIXED ASSETS

All fixed assets are stated at cost inclusive of all related expenses less depreciation.

1.3 DEPRECIATION

Depreciation on Fixed Assets is provided on ' Straight Line Method1 (SLM) at the rates specified in Schedule XIV of the Companies Act, 1956.

1.4 INVESTMENT

Long term investment are stated at cost less permanent diminution (in value) if any.

1.5 STOCK IN TRADE (SHARES)

Stock in Trade ( Shares) are valued at lower of cost or market value/break up value.

1.6 NON PERFORMING ASSETS

Non Performing Assets are identified as per the directives of the Reserve Bank of India.

1.7 EARNING PER SHARE

I) Net profit is considered after tax & includes post tax effect of any extra ordinary items.

ii) Basic earnings per share is computed using the weight average number of shares outstanding during the period.

1.8 OTHER ACCOUNTING POLICIES

These are consistent with the generally accepted accounting practices