Accounting Policies of Fraser & Company Ltd. Company

Mar 31, 2025

2 Significant Accounting Policies

A Basic for Preparations

1 Statement of Compliance

The Financial Statements have been prepared in accordance with IND AS notified under the
Companies (Indian Accounting Standard) Rules, 2015. Accordingly, these financial statements
have been prepared on the historical cost basis and in accordance with IND AS notified by
section 133 of the Companies Act, 2013 read with relevant rules issued thereunder from time to
time, to the extent applicable to the company. The Company has prepared these financial
statements which comprise the Balance Sheet as at 31st March, 2025, tire Statement of Profit and
Loss for the year ended 31st March, 2025, the Statement of Cash Flows for the year ended 31st
March, 2025 and the Statement of Changes in Equity for the year ended as on that date, and
accounting policies and other explanatory information (together hereinafter referred to as
''financial statements'').

The Financial Statements are presented in Indian Rupees which is rounded off in Thousands as
per requirement of Schedule III of the Act.

2 Use of Estimates

The preparation of the financial statements in conformity with IND AS requires management to
make estimates, judgments and assumptions. These estimates, judgments and assumptions affect
the application of accounting policies and the reported amounts of assets and liabilities, the
disclosures of contingent assets and liabilities at the date of the financial statements and reported
amoimts of revenues and expenses during the period. Appropriate changes in estimates are made
as management becomes aware of changes in circumstances surrounding the estimates. Changes
in estimates are reflected in the financial statements in the period in winch changes are made
and, if material, their effects are disclosed in the notes to the financial statements.

Information about areas involving a higher degree of judgement or complexity or critical
judgements in applying accounting policies, as well as estimates and assumptions that have the
most significant effect to the carrying amounts of assets and liabilities, contingent assets and
liabilities, income and expenses are included in the following notes :

a. Impairment of Financial Assets such as Trade Receivable.

b. Impairment of Non-Financial Assets.

c. Estimates of Tax Expenses and liability.

d. Revenue Resognitions.

3 Current and Non-current Classification.

All assets and liabilities have been classified as current and non-current as per the Company''s
normal operating cycle (twelve months) and other criteria set out in the schedule III to the Act.
The Company classifies all other liability as non-current. Deferred Tax Assets and Liabilities are
classified as Non-Current assets and liabilities.

4 Revenue Recognition

Revenues /Income and Cost/Expenditure are generally accounted on Accraal basis as they are
earned and incurred.

Dividend Income is accounted as and when the right to receive is established.

5 Property, Plant & equipment and Intangible Assets

Property, plant and equipment are stated at cost, less accumulated depreciation /amortization
and impairment, if any. Costs directly attributable to acquisition are capitalized until the property,
plant and equipment are ready for use, as intended by management. If significant parts of an item
of Property, Plant & equipment have different useful lives, then they are accounted for as
separate items (major components) of Property Plant & equipment.

6 Depreciation and Amortisation

The company depreciates property, plant and equipment over their estimated useful lives using
the written down value method at the rate in the maimer prescribed under Schedule XIV
of the Companies Act, 2013.. Depreciation on additions/deductions to property, plant and
equipment is provided on pro-rata basis from the date of actual installation or up to the date of
such sale or disposal, as the case may be. ¹

8 Inventory

Inventories are measured at lower of cost and net realisable value (NRV) after providing for
obsolescence, if any. Cost of finished goods and work-in-progress (WIP) includes all costs of
purchases, conversion costs and other costs incurred in bringing the inventories to their present
location and condition. Net Realizable Value is the estimated selling price in the ordinary course
of business less any applicable selling expenses.

9 Borrowing Cost

i) The Borrowing costs winch are incurred for obtaining a assets which take substantial period to
get ready for their intended use are capitalised to tire respective assets to the extent tire cost are
directly attritutable to such assests and in any other case by Weighted average cost of borrowings
to the expenditure on such assets. After completion of asset, the borrowing cost shall be treated
as expense for the year.

ii) Other borrowing costs are treated as expense for the year.

10 Cash and Cash Equivalents

Cash and Cash Equivalents include cash in hand, deposits held at call with banks, other short
term highly liquid investments which are readily¹ convertible into known amoimt of cash and are
subject to insignificant tisk of change in value. Bank overdrafts are shown within borrowings in
current liabilities on the balance sheet.

1

Impairment of Financial Assets

At each Balance sheet date, management reviews the Carrying amoimt of it assets included in the
Cash Generating to determine whether there is any indication that those assets were impaired. If
any such indications exists, recoverable amoimt of the assets is estimated in order to determine
the extent of impairement

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Mar 31, 2015

A. BASIS OF ACCOUNTING POLICIES:

The financial statements have been prepared under the historical cost convention using accrual method of accounting in accordance with the generally accepted accounting principles in India and the provisions of companies Act, 1956 and the accounting standards as specified in companies(Accounting Standards) Rule, 2006.

B. USE OF ESTIMATES:

The preparation of financial statements requires the management of the company to make estimates and assumptions that affect the reported balances of assets and liabilities and disclosures relating to the contingent liabilities as at the date of the financial statements and reported amounts of income and expense during the year. Example of such estimates include provision for doubtful receivables, employee benefits, provision for income taxes, accounting for contract costs expected to be incurred, the useful lives of depreciable fixed assets and provision for impairment.

C. FIXED ASSETS & DEPRECIATION:

The Fixed Assets are stated at their original cost of acquisition including all expenses attributable to bring the assets to its intending use.

The depreciation on Fixed Assets has been provided for on written down value method at the rate and in the manner prescribed in Schedule XIV of The Companies Act' 1956.

None of the Fixed Assets have been revalued during the year.

D. RECOGNITION OF INCOME & EXPENDITURE :

Revenues /Income and cost/Expenditure are generally accounted on Accrual basis as they are earned or incurred.

E. FOREIGN CURRENCY TRANSACTIONS:

a. The reporting currency of the company is the Indian rupee.

b. The company has not made any transaction in foreign exchange during the year.

F. INVESTMENTS:

The investment held by the company is carried at cost.

G. PROVISION FOR CURRENT AND DEFERRED TAX:

Current Income Tax is determined as an amount of taxes payable in respect of taxable income for the year. Deferred tax liability/assets in terms of Accounting Standard - 22, issued by The Institute of Chartered Accountants of India, is recognized, subject to the consideration of prudence in respect of Deferred Tax liability/assets arising due to timing differences.

H. IMPAIRMENT OF ASSETS:

At each balance sheet date, the management reviews the carrying amounts of its assets included in the cash generating unit to determine whether there is any indication that those assets were impaired. If any such indication exists, the recoverable amount of the assets is estimated in order to determine the extent of impairment.

I. EMPLOYEES BENEFITS UNDER THE COMPANIES (ACCOUNTING STANDARDS) RULES, 2006.

The Company has applied the revised Accounting Standard AS-15 EMPLOYEES BENEFITS UNDER THE COMPANIES (ACCOUNTING STANDARDS) RULES, 2006 relating to employees benefits notified under the companies (Accounting Standards) Rules 2006. According to the management there is no present obligation of any post employment benefits including payment of gratuity during the year. Therefore no actuarial gains or losses arose at the end of the year.

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Mar 31, 2014

A. BASIS OF ACCOUNTING POLICIES: The financial statements have been prepared under the historical cost convention using accrual method of accounting in accordance with the generally accepted accounting principles in India and the provisions of Companies Act, 1956 and the accounting standards as specified in companies(Accounting Standards) Rule, 2006.

B. USE OF ESTIMATES: The preparation of financial statements requires the management of the company to make estimates and assumptions that affect the reported balances of assets and liabilities and disclosures relating to the contingent liabilities as at the date of the financial statements and reported amounts of income and expense during the year. Example of such estimates include provision for doubtful receivables, employee benefits, provision for income taxes, accounting for contract costs expected to be incurred, the useful lives of depreciable fixed assets and provision for impairment.

C. FIXED ASSETS & DEPRECIATION: The Fixed Assets are stated at their original cost of acquisition including all expenses attributable to bring the assets to its intending use.

The depreciation on Fixed Assets has been provided for on written down value method at the rate and in the manner prescribed in Schedule XIV of The Companies Act' 1956.

None of the Fixed Assets have been revalued during the year.

D. RECOGNITION OF INCOME & EXPENDITURE : Revenues /Income and cost/Expenditure are generally accounted on Accrual basis as they are earned or incurred.

E. FOREIGN CURRENCY TRANSACTIONS:

a. The reporting currency of the company is the Indian rupee.

b. The company has not made any transaction in foreign exchange during the year.

F. INVESTMENTS: The investment held by the company is carried at cost.

G. PROVISION FOR CURRENT AND DEFERRED TAX:Current Income Tax is determined as an amount of taxes payable in respect of taxable income for the year. Deferred tax liability/assets in terms of Accounting Standard - 22, issued by The Institute of Chartered Accountants of India, is recognized, subject to the consideration of prudence in respect of Deferred Tax liability/assets arising due to timing differences.

H. IMPAIRMENT OF ASSETS: At each balance sheet date, the management reviews the carrying amounts of its assets included in the cash generating unit to determine whether there is any indication that those assets were impaired. If any such indication exists, the recoverable amount of the assets is estimated in order to determine the extent of impairment.

I. EMPLOYEES BENEFITS UNDER THE COMPANIES (ACCOUNTING STANDARDS) RULES, 2006 : The Company has applied the revised Accounting Standard AS-15 EMPLOYEES BENEFITS UNDER THE COMPANIES (ACCOUNTING STANDARDS) RULES, 2006 relating to employees benefits notified under the companies (Accounting Standards) Rules 2006. According to the management there is no present obligation of any past employment benefits including payment of gratuity during the year. Therefore no actuarial gains or losses arose at the end of the year.

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Mar 31, 2013

1.1. ACCOUNTING CONCEPT

The financial statements are prepared under the historical cost convention and on an accrual basis in accordance with all applicable accounting principles and are in compliance with mandatory accounting standards as specified in the Companies (Accounting Standards) Rules, 2006 issued by the Central Government.

1.2. FIXED ASSETS .

Fixed Assets are stated at their original cost including other expenses related to acquisition and installation.

1.3. DEPRECIATION

Depreciation on all assets is provided on Written Down Value method applying the rates of schedule XIV (as amended ) of the Companies Act,1956.

1.4. INVESTMENTS

Long-term Investments are valued at cost less provision for diminution, other than temporary, if any.

1.5. RECOGNITION OF INCOME AND EXPENDITURE

Items of Income and expenditure are accounted for on accrual basis except Gratuity which is accounted on cash basis.

1.6 TAXATION

Provision for Income Tax is made on taxable income for the year at current rates. Current tax represents the amount of Income tax payable in respect of taxable income for the year.

Deferred tax represents the effect of timing difference between taxable income and accounting income for the year that originate in one period and are capable of reversal in one or more subsequent years.

The deferred tax asset is recognized and carried forward only to the extent if there is a reasonable certainty that will be realized in future. However where there is unabsorbed depreciation or carried forward business loss under taxation laws, deferred tax assets are recognized only if there is a virtual certainty with supporting evidences of realization of the assets.

1.7 PROVISIONS,CONTINGENT LIABILITIES, AND CONTINGENT ASSETS

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources.

Contingent Liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognized nor disclosed in the financial statements.

1.8 USE OF ESTIMATES

The preparation of financial statements require management to make estimates and assumptions that affect the reported amount of assets and liabilities, and disclosures related to contingent liabilities and assets as at the balance sheet date, and the reported amount of income and expenses during the year. Actual results could differ from those estimates.

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Mar 31, 2012

1.1. ACCOUNTING CONCEPT

The financial statements are prepared under the historical cost convention and on an accrual basis in accordance with all applicable accounting principles and are in compliance with mandatory accounting standards as specified in the Companies (Accounting Standards) Rules, 2006 issued by the Central Government.;

1.2. FIXED ASSETS

Fixed Assets are stated at their original cost Including other expenses related to acquisition and installation.

13. DEPRECIATION

Depreciation on all assets Is provided on Written Down Value method applying the rates of schedule XIV (as amended) of the Companies Act,1956.

1.4. INVESTMENTS

Long-term Investments are valued at cost less provision for diminution, other than temporary, if any.

1.5. RECOGNITION OF INCOME AND EXPENDITURE

Items of Income and expenditure are accounted for on accrual basis except Gratuity which Is accounted on cash basis.

1.6 TAXATION

Provision for income Tax is made on taxable income for the year at current rates. Current tax represents the amount of Income tax payable In respect of taxable Income for the year. Deferred tax represents the effect of timing difference between taxable income and accounting income for the year that originate In one period and are capable of reversal in one or more subsequent years.

The deferred tax asset Is recognized and carried forward only to the extent if there is a reasonable certainty that the assets will be realized In future. Howeverwhere there is unabsorbed depreciation or carried forward business loss under taxation laws, deferred tax assets are recognized only if there Is a virtual certainty with supporting evidences of realization of the assets.

1.7 PROVISIONS,CONTINGENT LIABILITIES, AND CONTINGENT ASSETS

Provisions involving substantial degree of estimation in measurement are recognized when there Is a present obligation as a result of past events and it is probable that there will be an outflow of resources.

Contingent liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognized nor disclosed In the fihanclal statements.

1.8 USE OF ESTIMATES

The preparation of financial statements require management to make estimates and assumptions that affect the reported amount of assets and liabilities, and disclosures related to contingent liabilities and assets as at the balance sheet date, and the reported amount of income and expenses during the year. Actual results could differ from those estimates.

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Mar 31, 2011

1. Accounting Policies :

a) System of Accounting :

The Company adopts the accrued basis in the preparation of accounts except Gratuity and Bonus.

b) Fixed Assets:

Fixed Assets are stated at cost. Depreciation on Fixed Assets are provided on written down value basis in accordance with the companies Act, 1956.

c) Income:

Income is derived from Rent Only.

d) Expenses:

The Company Provides for all expenses comprising of Administrative expenses, on accrued basis.