DRIVIN G ROWTH - Dr. Reddy's

notes to the financial statements – DECEMBER 31, 2001
These notes form an integral part of and should be read in conjunction with the accompanying financial statements.
1. GENERAL
The Company is incorporated in the Republic of Singapore with its principal place of business at:
400 Orchard Road #11-11
Orchard Towers
Singapore 238875
However, the registered office of the Company is at:
17 Phillip Street #05-01
Grand Building
Singapore 048695
The financial statements are expressed in Singapore dollars.
The principal activities of the Company which is incorporated in Singapore are to act as importers, exporters, wholesalers, retailers,
manufacturers, manufacturers’ agents and representatives, marketing agents, commission agents, distributors of medicinal and
pharmaceutical products, health care, beauty care, toiletries and related items and provision of services to related corporations.
The financial statements of the Company for the year ended December 31, 2001 were authorised for issue by Board of Directors
at their meeting held on March 12, 2002.
2. SIGNIFICANT ACCOUNTING POLICIES
2.1 Basis of accounting
The financial statements are prepared in accordance with the historical cost convention and the provisions of the Singapore
Statements of Accounting Standard (“SAS”) and Singapore Companies Act.
The immediate holding Company and related companies have provided financial support to the Company and the Directors
are satisfied that they will continue to provide such support so as to enable the Company to meet its obligations as and when
they fall due.
The Company has adopted all the applicable new/revised SAS which becomes effective during the financial year. The adoption
of the new/revised SAS does not affect the results of current financial year.
2.2 Revenue recognition
Revenue from sale of goods is recognised upon passage of title to the customer which coincides with their delivery and
acceptance.
Interest income is recognised on an accrual basis.
Management fee income is based on service rendered.
2.3 Fixed assets
Fixed assets are stated at cost less accumulated depreciation. The cost of an asset comprises its purchase price and any directly
attributable costs of bringing the asset to working condition for its intended use. Expenditure for additions, improvements and
renewals are capitalised and expenditure for maintenance and repairs are charged to the Profit and Loss Statement. When
assets are sold or retired, their cost and accumulated depreciation are removed from the accounts and any gain or loss resulting
from their disposal is included in the Profit and Loss Statement.
2.4 Depreciation
Depreciation is calculated on a straight line method to write off the cost of the assets over their estimated useful lives. The
estimated useful lives of fixed assets are as follows:
Years
Furniture & fixtures 5
Office equipment 5
Computers 3
Fully depreciated assets are retained in the accounts until they are no longer in use and no further charge for depreciation is
made in respect of these assets.
REDDY PHARMACEUTICALS SINGAPORE PTE LTD. | FINANCIALS | ANNUAL REPORT 2001
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