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AMINES & PLASTICIZERS LTD

NOTES FORMING PART OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 3 1ST MARCH 201 9
CompanyhasnotappliedastheyeffectiveforannualperiodsbeginningonorafterApril01,2019.

Ind AS 116 “Leases” eliminates the classification of leases as either finance leases or operating
leases. All leases are required to be reported on an entity’s balance sheet as assets and liabilities.
Leases are capitalized by recognizing the present value of the lease payments and showing them
either as right of use of the leased assets or together with property,plant and equipment.If lease
payments are made over time a financial liability representing the future obligation would be
recognised.
d. Property,Plant&Equipment&IntangibleAssets:
i. Property,Plant&Equipment

The Company had applied for the one time transition exemption of considering the carrying cost
on the transition date i.e., 1st April,2016 as the deemed cost under Ind AS. Hence regarded
thereafterashistoricalcost.
An item of Property, plant and equipment is recognized as an asset if it is probable that future
economic benefits associated with the item will flow to the Company and its cost can be measured
reliably.property,plant and equipment are initially recognized at cost after deducting refundable
purchase taxes and including the cost directly attributable to bring the asset to the location and
conditionsnecessaryforittobecapableofoperatinginthemannerintendedbythemanagement,
borrowing cost in accordance with the established accounting policy, cost of restoring and
dismantling,ifany,initiallyestimatedbythemanagement.
Freehold Land is carried at historical cost.All Other items of Property,Plant & Equipment are stated
at historical cost less depreciation.Historical Cost includes expenditure that is directly attributable
to the acquisition of the items.After the initial recognition the property,plant and equipment are
carriedatcostlessaccumulateddepreciationandimpairmentlosses.
Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset,as
appropriate, only when it is probable that future economic benefits associated with the item will
flowtotheCompanyanditscostcanbemeasuredreliably.
All other repairs and maintenance costs,including regular servicing are charged to the Statement
ofProfitandLossduringthereportingperiodinwhichtheyareincurred.
In case of self-constructed assets,costincludesthe costsofallmaterialsused in construction,direct
labour, allocation of overheads, directly attributable borrowing costs. Cost of Self-constructed
assets is determined using the same principles as for acquired assets after eliminating the
componentofinternalprofits.

Any gain or loss arising on retirement or disposal of property,plant and equipment is recognized in
theStatementofProfitandLoss.

Capital work-in-progress assets in the course of construction for production or/and supply of
goods or services or administrative purposes, or for purposes not yet determined, are carried at
cost,lessanyrecognisedimpairmentloss.Atthepointwhenanassetisoperatingatmanagement’s
intended use,the cost of construction is transferred to the appropriate category of property,plant
and equipment. Costs associated with the commissioning of an asset are capitalised where the
asset is available for use but incapable of operating at normal levels until a period of
commissioninghasbeencompleted.

ii. IntangibleAssets
Intangible Assets are stated at cost of acquisition net of recoverable taxes, trade discount and
rebates less accumulated amortization / depletion and impairment loss,if any.Such cost includes

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NOTES TO THE ACCOUNTS