Accounting Policies of Rose Merc. Ltd. Company

Mar 31, 2025

1.0 Corporate Information

Rose Merc Limited is a Limited Company, incorporated under the provisions of
Companies Act, 1956 and having CIN: L93190MH1985PLC035078. The company is
mainly trading of General Merchandise and allied items along with trading in gold, and
other precious metals. The Registered office of the Company is situated at 15/B/4, New
Sion CHS, SIES College, Behind D Mart, Sion West, Sion, Mumbai, Maharashtra, India,
400022.

1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS:

a. Accounting Convention: -

The financial statements have been prepared in accordance with Section 133 of
Companies Act, 2013, i.e. Indian Accounting Standards (''Ind AS'') notified under
Companies (Indian Accounting Standards) Rules 2015. The Ind AS Financial
Statements are prepared on historical cost convention, except in case of certain
financial instruments which are recognized at fair value.

All assets and liabilities have been classified as current or non-current as per the
Company''s normal operating cycle and other criteria set out in the Part I of Schedule
111 to the Companies Act, 2013. Based on the nature of products and the time between
the acquisition of assets for processing and their realization in cash and cash
equivalents.

b. Functional and Presentation Currency

All amounts disclosed in the financial statements and notes are rounded off to lakhs
the nearest 1NR rupee in compliance with Schedule III of the Act, unless otherwise
stated.

The functional and presentation currency of the company is Indian rupees. This
financial statement is presented in Indian rupees. Due to rounding off, the numbers
presented throughout the document may not add up precisely to the totals and
percentages may not precisely reflect the absolute figures.

c. Compliance with Ind AS

The financial statements have been prepared in accordance with Ind AS notified
under the Companies (Indian Accounting Standards) Rules, 2015.

d. Use of Estimates and judgments

The preparation of the Ind AS financial statements in conformity with the generally
accepted accounting principles in India requires management to make estimates and
assumptions that affect the reported amount of assets and liabilities as of the Balance
Sheet date, reported amount of revenue and expenses for the year and disclosure of
contingent labilities and contingent assets as of the date of Balance Sheet. The
estimates and assumptions used in these Ind AS financial statements are based on
management''s evaluation of the relevant facts and circumstances as of the date of the
Ind AS financial statements. The actual amounts may differ from the estimates used
in the preparation of the Ind AS financial statements and the difference between
actual results and the estimates are recognized in the period in which the results are
known/materialize.

Estimates and underlying assumptions are reviewed at each balance sheet date.
Revisions to accounting estimates are recognized in the period in which the estimate
is revised and in future periods affected.

particular, information about significant areas of estimation uncertainty and critical
judgments in applying accounting policies that have the most significant effect on the
amounts recognized in the financial Statement are as below:

1. Valuation of Financial Instruments;

2. Evaluation of recoverability of deferred tax assets/Liabilities;

3. Useful lives of property, plant and equipment and intangible assets;

4. Measurement of recoverable amounts of cash-generating units;

5.Obligations relating to employee benefits;

6. Provisions and Contingencies;

7. Provision for income taxes, including amount expected to be paid/recovered for
uncertain tax positions;

8. Recognition of Deferred Tax Assets/Liabilities

e. Current versus Non-Current Classification

The Company presents assets and liabilities in the Balance Sheet based on
current/ non-current classification.

An asset / liability is treated as current when it is:-

i. Expected to be realized or intended to be sold or consumed or settled in
normal operating cycle.

ii. Held primarily for the purpose of trading.

iii. Expected to be realized / settled within twelve months after the reporting
period.

iv. Cash or cash equivalent unless restricted from being exchanged or used to
settle a liability for at least twelve months after the reporting period.

v. There is no unconditional right to defer the settlement of the liability for
at least twelve months after the reporting period.

All other assets and liabilities are classified as non-current

Deferred tax assets and liabilities are classified as non-current assets and
liabilities respectively.

1.2 ACCOUNTING POLICIES:

(A) Property, Plant and Equipment

All items of property, plant and equipment are stated at historical cost less
depreciation. Historical cost includes expenditure that is directly attributable to the
acquisition of the items.

Cost includes purchase price, non-recoverable taxes and duties, labour cost and direct
overheads for self-constructed assets and other direct costs incurred up to the date the
asset is ready for its intended use.

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 flow to the Company and the cost of the item can be
measured reliably. The carrying amount of any component accounted for as a separate
asset is derecognized when replaced. All other repairs and maintenance are charged to
profit or loss during the reporting period in which they are incurred.

Freehold land is not depreciated. Depreciation is provided on a pro-rata basis on the straight¬
line method in Amusement Division and on other assets Written Down Value Method over
the estimated useful lives of the assets or the rates prescribed under Schedule II of the
Companies Act, 2013.considering the nature, estimated usage, operating conditions,
past history of replacement, anticipated technological changes, manufacturers’

warranties and maintenance support. The Company provides pro-rata depreciation
from the day the asset is put to use and for any asset sold, till the date of sale.

Projects under commissioning and other Capital work-in-progress are carried at cost
comprising of direct and indirect costs, related incidental expenses and attributable
interest. Depreciation is not recorded on capital work-in-progress until construction
and installation are complete and the asset is ready for its intended use.

An item of property, plant and equipment is derecognized on disposal. Any gain or loss
arising from derecognition of an item of property, plant and equipment is included in
profit or loss.

(B) Intangible Assets

Intangible assets are stated at cost of acquisition net of recoverable taxes, accumulated
amortization, and impairment losses, if any. Such costs include purchase price,
borrowing cost, and any cost directly attributable to bringing the asset to its working
condition for the intended use, net charges on foreign exchange contracts and
adjustments arising from exchange rate variations attributable to the intangible assets.

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 flow to the entity and cost can be measured reliably.

The amortization period for intangible assets with finite useful lives is reviewed at each
year-end. Changes in expected useful lives are treated as changes in accounting
estimates.

Internally generated intangible asset Research costs are charged to the statement of
Profit and Loss in the year in which they are incurred.

The cost of an internally generated intangible asset is the sum of directly attributable
expenditure incurred from the date when the intangible asset first meets the
recognition criteria to the completion of its development.

Product development expenditure is measured at cost less accumulated amortisation
and impairment, if any. Amortisation is not recorded on product in progress until
development is complete.

Gains or losses arising from derecognition of an Intangible Asset are measured as the
difference between the net disposal proceeds and the carrying amount of the asset and

(C) Impairment of assets

Goodwill and intangible assets that have an indefinite useful life are not subject to
amortization and are tested annually for impairment, or more frequently if events or
changes in circumstances indicate that they might be impaired. Other assets are tested
for impairment whenever events or changes in circumstances indicate that the carrying
amount may not be recoverable. An impairment loss is recognized for the amount by
which the asset''s carrying amount exceeds its recoverable amount. The recoverable
amount is the higher of an asset’s fair value less costs of disposal and value in use.

The Company assesses at each balance sheet date whether there is any indication that
an asset may be impaired. If any such indication exists, the Company estimates the
recoverable amount of the asset. If such recoverable amount of the asset or the
recoverable amount of the cash-generating unit to which the asset belongs is less than
its carrying amount, the carrying amount is reduced to its recoverable amount. The
reduction is treated as an impairment loss and is recognized in the statement of profit
and loss. If at the balance sheet date there is an indication that a previously assessed
impairment loss no longer exists, the recoverable amount is reassessed and the asset
is reflected at the recoverable amount subject to a maximum of depreciable historical
cost.

(D)Leases

As a lessee

The Company has applied IND AS 116 using the partial retrospective approach.

The Company assesses at contract inception whether a contract is, or contains, a lease.
That is, if the contract conveys the right to control the use of an identified asset for a
period of time in exchange for consideration.

The Company applies a single recognition and measurement approach for all leases,
except for short-term leases and leases of low-value assets. The Group recognizes lease
liabilities to make lease payments and right-of-use assets representing the right to use
the underlying assets.

Right of use assets

The Company recognizes right-of-use assets at the commencement date of the lease
(i.e., the date the underlying asset is available for use). Right-of-use assets are
measured at cost, less any accumulated depreciation and impairment losses, and
adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets
includes the amount of lease liabilities recognized, initial direct costs incurred, and
lease payments made at or before the commencement date less any lease incentives
received. Right-of-use assets are depreciated on a straight-line basis over the shorter
of the lease term and the estimated useful lives of the assets.

Lease Liabilities

At the commencement date of the lease, the Company recognizes lease liabilities
measured at the present value of lease payments to be made over the lease term. The
lease payments include fixed payments (including in substance fixed payments) less
any lease incentives receivable, variable lease payments that depend on an index or a
rate, and amounts expected to be paid under residual value guarantees.

In calculating the present value of lease payments, the Company uses its incremental
borrowing rate at the lease commencement date because the interest rate implicit in
the lease is not readily determinable. After the commencement date, the amount of
lease liabilities is increased to reflect the accretion of interest and reduced for the lease
payments made. In addition, the carrying amount of lease liabilities is remeasured if
there is a modification, a change in the lease term, a change in the lease payments (e.g.,
changes to future payments resulting from a change in an index or rate used to
determine such lease payments) ora change in the assessment ofan option to purchase
the underlying asset.

As Lessor:

At the inception of a lease, the lease arrangement is classified as either a finance lease
or an operating lease, based on contractual terms & substance of the lease
arrangement. Whenever the terms of the lease transfer substantially all the risks and
rewards of ownership to the lessee, the contract is classified as a finance lease. All other
leases are classified as operating leases.

Amounts due from lessees under finance leases are recognized as receivables at the
amount of the Company''s net investment in the leases. Finance lease income is
allocated to accounting periods so as to reflect a constant periodic rate of return on the
Company''s net investment outstanding in respect of the leases.

Rental income from operating leases is recognized on a straight-line basis over the term
of the relevant lease. Initial direct costs incurred in negotiating and arranging an
operating lease are added to the carrying amount of the leased asset and recognized on
a straight-line basis over the lease term.

(E) Segment Reporting

Operating segments are reported in a manner consistent with the internal reporting
provided to Chief Operating Decision Maker (CODM).

The Company has identified its Chief Financial Officer as CODM who is responsible for
allocating resources and assessing performance of the operating segments and makes
strategic decisions.

CODM is in view that the Company is operating in single business segments. Hence,
Segment reporting is not required .

(F) Statement of Cashflow

Cash Flows of the Group are reported using the indirect method, whereby profit before
tax is adjusted for the effects of transactions of a noncash nature, any deferrals or
accruals of past or future operating cash receipts or payments and item of income or
expenses associated with investing or financing Cash Flows. The cash flows from
operating, investing and financing activities of the Company are segregated.

(G) Cash and cash equivalents

Cash and cash equivalents comprises cash on hand, demand deposits and highly liquid
investments with an original maturity of up to three month that are readily convertible
into cash and which are subject to an insignificant risk of changes in value.

(H) Inventories

Inventories includes stock -in -trade, stores & spares, consumables, packing materials,
goods for resale and material in transit are valued at lower of cost and net

Stock-in-trade - Cost includes cost of purchase and other costs incurred in bringing
the inventories to their present location and conditions. Cost is determined on First-In¬
First-Out basis.

Stores, Spare Parts, Consumables, Packing Materials etc. - Cost is determined on First-
In-First-Out basis.

Goods for Resale - valuation Cost is determined on First-In-First-Out basis.

realizable Net realizable value represents the estimated selling price for inventories
less all estimated costs of completion and costs necessary to make the sale. Adequate

allowance is made for obsolete and slow-moving items.

(I) Foreign Currency Transactions

i) Initial Recognition

On initial recognition, all foreign currency transactions are recorded by applying
to the foreign currency amount the exchange rate between the functional currency
and the foreign currency at the date of the transaction.

ii) Subsequent Recognition

As at the reporting date, non-monetary items which are carried in terms of
historical cost denominated in a foreign currency are reported using the exchange
rate at the date of the transaction. All non-monetary items which are carried at fair
value or other similar valuation denominated in a foreign currency are reported
using the exchange rates that existed when the values were determined.

All monetary assets and liabilities in foreign currency are restated at the end of
accounting period. Exchange differences on restatement of all other monetary
items are recognized in the Statement of Profit and Loss.

Any subsequent events occurring after the Balance Sheet date up to the date of the
approval of the Financial statement of the Company by the board of directors on June
27,2025 have been considered, disclosed and adjusted, if changes or event are material
in nature wherever applicable, as per the requirement of Ind AS.

0] Income Taxes

The tax expense for the period comprises of current tax and deferred income tax.
Tax is recognized in Statement of Profit and Loss, except to the extent that it relates
to items recognized in the Other Comprehensive Income or in Equity. In which case,
the tax is also recognized in Other Comprehensive Income or Equity.

I. Current tax: -

Current tax is measured at the amount expected to be paid to the tax authorities
in accordance with the taxation laws prevailing in the respective jurisdictions.
Current tax assets and current tax liabilities are offset when there is a legally
enforceable right to set off the recognized amounts and there is an intention to
settle the asset and the liability on a net basis.

II. Deferred tax: -

Deferred tax is recognized using the balance sheet approach. Deferred tax assets
and liabilities are recognized for deductible and taxable temporary differences
arising between the tax base of assets and liabilities and their carrying amount
in financial statements.

Deferred tax asset is recognized to the extent that it is probable that taxable profit will
be available against which such deferred tax assets can be realized. The carrying amount
of deferred tax assets is reviewed at each reporting date and reduced to the extent that
it is no longer probable that sufficient taxable profit will be available to allow all or part
of the deferred income tax asset to be utilized.

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Mar 31, 2024

Note: - 1 Significant accounting policies:

1.0 Corporate Information

Rose Merc Limited is a Limited Company, incorporated under the provisions of Companies Act, 1956 and having CIN: L24110MH1985PLC035078. The company is mainly trading of General Merchandise and allied items along with trading in gold, and other precious metals. The Registered office of the Company is situated at Office No. G-2, Ground floor, Part-A, Mangal Mahesh ,14^th road khar (west) Mumbai - 400052.

1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS:

a. Accounting Convention: -

The financial statements have been prepared in accordance with Section 133 of Companies Act, 2013, i.e. Indian Accounting Standards (''Ind AS'') notified under Companies (Indian Accounting Standards) Rules 2015. The Ind AS Financial Statements are prepared on historical cost convention, except in case of certain financial instruments which are recognized at fair value.

All assets and liabilities have been classified as current or non-current as per the Company''s normal operating cycle and other criteria set out in the Part I of Schedule Ill to the Companies Act, 2013. Based on the nature of products and the time between the acquisition of assets for processing and their realisation in cash and cash equivalents.

b. Functional and Presentation Currency

All amounts disclosed in the financial statements and notes are rounded off to lakhs the nearest INR rupee in compliance with Schedule III of the Act, unless otherwise stated.

The functional and presentation currency of the company is Indian rupees. This financial statement is presented in Indian rupees. Due to rounding off, the numbers presented throughout the document may not add up precisely to the totals and percentages may not precisely reflect the absolute figures.

c. Compliance with Ind AS

The financial statements have been prepared in accordance with Ind AS notified under the Companies (Indian Accounting Standards) Rules, 2015.

d. Use of Estimates and Judgments

The preparation of the Ind AS financial statements in conformity with the generally accepted accounting principles in India requires management to make estimates and assumptions that affect the reported amount of assets and liabilities as of the Balance Sheet date, reported amount of revenue and expenses for the year and disclosure of contingent labilities and contingent assets as of the date of Balance Sheet. The estimates and assumptions used in these Ind AS financial statements are based on management''s evaluation of the relevant facts and circumstances as of the date of the Ind AS financial statements. The actual amounts may differ from the estimates used in the preparation of the Ind AS financial statements and the difference between actual results and the estimates are recognized in the period in which the results are known/materialize.

Estimates and underlying assumptions are reviewed at each balance sheet date. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in future periods affected.

particular, information about significant areas of estimation uncertainty and critical judgments in applying accounting policies that have the most significant effect on the amounts recognized in the financial Statement are as below:

1. Valuation of Financial Instruments;

2. Evaluation of recoverability of deferred tax assets/Liabilities ;

3. Useful lives of property, plant and equipment and intangible assets;

4. Measurement of recoverable amounts of cash-generating units;

5.Obligations relating to employee benefits;

6. Provisions and Contingencies;

7. Provision for income taxes, including amount expected to be paid/recovered for uncertain tax positions;

8. Recognition of Deferred Tax Assets/Liabilities

e. Current versus Non-Current Classification

The Company presents assets and liabilities in the Balance Sheet based on current/ non-current classification.

An asset / liability is treated as current when it is:-

i. Expected to be realized or intended to be sold or consumed or settled in normal operating cycle.

ii. Held primarily for the purpose of trading.

iii. Expected to be realised / settled within twelve months after the reporting period.

iv. Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

v. There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.

All other assets and liabilities are classified as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities respectively.

1.2 ACCOUNTING POLICIES:

(A) Property, Plant and Equipment

All items of property, plant and equipment are stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items.

Cost includes purchase price, non-recoverable taxes and duties, labour cost and direct overheads for self-constructed assets and other direct costs incurred up to the date the asset is ready for its intended use.

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 flow to the Company and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognized when replaced. All other repairs and maintenance are charged to profit or loss during the reporting period in which they are incurred.

Freehold land is not depreciated. Depreciation is provided on a pro-rata basis on the straightline method in Amusement Division and on other assets Written Down Value Method over the estimated useful lives of the assets or the rates prescribed under Schedule II of the Companies Act, 2013. considering the nature, estimated usage, operating conditions, past history of replacement, anticipated technological changes, manufacturers’ warranties and maintenance support. The Company provides pro-rata depreciation from the day the asset is put to use and for any asset sold, till the date of sale.

Projects under commissioning and other Capital work-in-progress are carried at cost comprising of direct and indirect costs, related incidental expenses and attributable interest. Depreciation is not recorded on capital work-in-progress until construction and

installation are complete and the asset is ready for its intended use.

An item of property, plant and equipment is derecognized on disposal. Any gain or loss arising from derecognition of an item of property, plant and equipment is included in profit or loss.

(B) Intangible Assets

Intangible assets are stated at cost of acquisition net of recoverable taxes, accumulated amortization, and impairment losses, if any. Such costs include purchase price, borrowing cost, and any cost directly attributable to bringing the asset to its working condition for the intended use, net charges on foreign exchange contracts and adjustments arising from exchange rate variations attributable to the intangible assets.

Subsequent costs are included in the asset''s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the entity and cost can be measured reliably.

The amortisation period for intangible assets with finite useful lives is reviewed at each year-end. Changes in expected useful lives are treated as changes in accounting estimates.

Internally generated intangible asset Research costs are charged to the statement of Profit and Loss in the year in which they are incurred.

The cost of an internally generated intangible asset is the sum of directly attributable expenditure incurred from the date when the intangible asset first meets the recognition criteria to the completion of its development.

Product development expenditure is measured at cost less accumulated amortisation and impairment, if any. Amortisation is not recorded on product in progress until development is complete.

Gains or losses arising from derecognition of an Intangible Asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognised in the statement of profit and loss when the asset is derecognised.

(C) Impairment of assets

Goodwill and intangible assets that have an indefinite useful life are not subject to amortization and are tested annually for impairment, or more frequently if events or changes in circumstances indicate that they might be impaired. Other assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amountby which the asset''s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset''s fair value less costs of disposal and value in use.

The Company assesses at each balance sheet date whether there is any indication that an asset may be impaired. If any such indication exists, the Company estimates the recoverable amount of the asset. If such recoverable amount of the asset or the recoverable amount of the cash-generating unit to which the asset belongs is less than its carrying amount, the carrying amount is reduced to its recoverable amount. The reduction is treated as an impairment loss and is recognized in the statement of profit and loss. If at the balance sheet date there is an indication that a previously assessed impairment loss no longer exists, the recoverable amount is reassessed and the asset is reflected at the recoverable amount subject to a maximum of depreciable historical cost.

(D)Leases

As a lessee

The Company has applied IND AS 116 using the partial retrospective approach.

The Company assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

The Company applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets.

Right of use assets

The Company recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets.

Lease Liabilities

At the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees.

In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset.

As Lessor:

At the inception of a lease, the lease arrangement is classified as either a finance lease or an operating lease, based on contractual terms & substance of the lease arrangement. Whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee, the contract is classified as a finance lease. All other leases are classified as operating leases.

Amounts due from lessees under finance leases are recognised as receivables at the amount of the Company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the Company’s net investment outstanding in respect of the leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straightline basis over the lease term.

(E) Segment Reporting

Operating segments are reported in a manner consistent with the internal reporting provided to Chief Operating Decision Maker (CODM).

The Company has identified its Chief Financial Officer as CODM who is responsible for allocating resources and assessing performance of the operating segments and makes

strategic decisions.

CODM is in view that the Company is operating in single business segments. Hence, reporting requirement of Segment reporting is not arise.

(F) Statement of Cashflow

Cash Flows of the Group are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of a noncash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or financing Cash Flows. The cash flows from operating, investing and financing activities of the Company are segregated.

(G) Cash and cash equivalents

Cash and cash equivalents comprises cash on hand, demand deposits and highly liquid investments with an original maturity of up to three month that are readily convertible into cash and which are subject to an insignificant risk of changes in value.

(H) Inventories

Inventories includes stock -in -trade, stores & spares, consumables, packing materials, goods for resale and material in transit are valued at lower of cost and net

Stock-in-trade - Cost includes cost of purchase and other costs incurred in bringing the inventories to their present location and conditions. Cost is determined on First-In-First-Out basis.

Stores, Spare Parts, Consumables, Packing Materials etc. - Cost is determined on on First-In-First-Out basis.

Goods for Resale - valuation Cost is determined on First-In-First-Out basis.

realizable Net realizable value represents the estimated selling price for inventories less all estimated costs of completion and costs necessary to make the sale. Adequate allowance is made for obsolete and slow-moving items.

(I) Foreign Currency Transactions

i) Initial Recognition

On initial recognition, all foreign currency transactions are recorded by applying to the foreign currency amount the exchange rate between the functional currency and the foreign currency at the date of the transaction.

ii) Subsequent Recognition

As at the reporting date, non-monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using the exchange rate at the date of the transaction. All non-monetary items which are carried at fair value or other similar valuation denominated in a foreign currency are reported using the exchange rates that existed when the values were determined.

All monetary assets and liabilities in foreign currency are restated at the end of accounting period. Exchange differences on restatement of all other monetary items are recognized in the Statement of Profit and Loss.

Any subsequent events occurring after the Balance Sheet date up to the date of the approval of the financial statement of the Company by the board of directors on May 14, 2024 have been considered, disclosed and adjusted, if changes or event are material in nature wherever applicable, as per the requirement of Ind AS .

(J) Income Taxes

The tax expense for the period comprises of current tax and deferred income tax. Tax is recognized in Statement of Profit and Loss, except to the extent that it relates to items recognized in the Other Comprehensive Income or in Equity. In which case, the tax is also recognized in Other Comprehensive Income or Equity.

I. Current tax: -

Current tax is measured at the amount expected to be paid to the tax authorities in accordance with the taxation laws prevailing in the respective jurisdictions. Current tax assets and current tax liabilities are offset when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle the asset and the liability on a net basis.

II. Deferred tax:-

Deferred tax is recognized using the balance sheet approach. Deferred tax assets and liabilities are recognized for deductible and taxable temporary differences arising between the tax base of assets and liabilities and their carrying amount in financial statements.

Deferred tax asset is recognized to the extent that it is probable that taxable profit will be available against which such deferred tax assets can be realized. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized.

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Mar 31, 2014

Basis of Accounting :

The financial statements are prepared under historical cost convention and comply with applicable accounting standards issued by the Institute of Chartered Accountants of India and relavant provisions of the Companies Act, 1956. AS 1 Accounting Convention

The accounts have been prepared under the historical cost convention. The Company follows the mercantile system of accounting and recognises income and expenditure on accrual basis. The scope of audit covers all aspects of principal, standard accounting policies.

AS 2 Valuation of Inventories

The Company is engaged in the business of Trading of General Merchandise and allied items alongwith finance and investment based activities. The Valuation is based on lower of Cost or Realisable Value. However the company was holding no stock at the year end.

AS 3 Cash Flow Statements

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

AS 4 Contingencies and events occurring after Balance Sheet Date:

There are no contingencies and events occurring after the Balance Sheet date affecting the financial position of the Company.

AS 5 Prior Period And Extra Ordinary Items

There are no material changes or credit which arises in current period, on account of errors or omissions in the preparation of financial statements for one or more prior periods.

AS 6 -Depreciation:

Depreciation on fixed assets is provided on Written Down Value method in respect of Fixed Assets at rates prescribed under Schedule XIV the Companies Act 1956 as amended.

AS 9: Revenue Recognition:

All revenues are generally recognised on accrual basis.

AS 10: Accounting for Fixed Assets:

Fixed assets are stated at cost of acquisition. Acquisition cost includes taxes, duties, freight, insurance and other incidental expenses related to acquisition and installation where applicable. Revenue expenses incidental and related to projects are capitalized along with the related fixed assets, where appropriate.

Fixed Assets are stated at cost less accumulated depreciation.

AS 11 : The effect of Changes in Foreign Exchange Rates: Earning in Foreign Exchange is Rs. NIL (Previous Year Rs. NIL) Expenditure in Foreign Currency is Rs. NIL (Previous Year Rs. NIL)

AS 13: Accounting for Investments

Investments are shown at Cost as the Investment being Non Current Asset. The Investments made are in the nature of Unquoted Equity Instruments Rs. 5,01,600/-

The Provision for increase or decrease in value of Shares is not provided as it is considered temporary.

AS15 - Retirement Benefits:

The Provisions of the Employees State Insurance Act are not applicable to the company. Therefore no provision for Gratuity is made or provided for.

AS16 - Borrowing Costs:

Borrowing costs include interest cost. Costs in connection with the borrowing of funds to the extent not directly related to the acquisition of qualifying assets are charged to the Statement of Profit and Loss over the tenure of the loan. Capitalisation of borrowing costs is suspended and charged to the Statement of Profit and Loss.

AS 17 Segment Reporting:

The Company''s operations consist of Trading and Finance Based Activities. Hence, there are no reportable segments under Accounting Standard - 17. During the year under report, the Company has engaged in business in India only and not in any other Country. The conditions prevailing in India being uniform, no separate geographical disclosures are considered necessary.

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Mar 31, 2013

AS 1 Accounting Convention

The accounts have been prepared under the historical cost convention. The Company follows the mercantile system of accounting and recognises income and expenditure on accrual basis. The scope of audit covers all aspects of principal, standard accounting policies.

AS 2 Valuation of Inventories

The Company is engaged in the business of Trading of General Merchandise and allied items alongwith finance and investment based activities. The Valuation is based on lower of Cost or Realisable Value. However the company was holding no stock at the year end.

AS 3 Cash Flow Statements

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

AS 4 Contingencies and events occurring after Balance Sheet Date:

There are no contingencies and events occurring after the Balance Sheet date affecting the financial position of the Company. The Demand raised by the Income Tax Authorities u/s 143(3) of the income Tax Act 1961for AY 2009-10 for Rs. 370,480/- has been paid in full by the Company. AS 5 Prior Period And Extra Ordinary Items

There are no material changes or credit which arises in current period, on account of errors or omissions in the preparation of financial statements for one or more prior periods.

AS 6 -Depreciation:

Depreciation on fixed assets is provided on Written Down Value method in respect of Fixed Assets at rates prescribed under Schedule XIV the Companies Act 1956 as amended.

AS 9: Revenue Recognition:

All revenues are generally recognised on accrual basis.

AS 10: Accounting for Fixed Assets:

Fixed assets are stated at cost of acquisition. Acquisition cost includes taxes, duties, freight, insurance and other incidental expenses related to acquisition and installation where applicable. Revenue expenses incidental and related to projects are capitalized along with the related fixed assets, where appropriate. Fixed Assets are stated at cost less accumulated depreciation.

AS 11 : The effect of Changes in Foreign Exchange Rates: Earning in Foreign Exchange is Rs. NIL (Previous Year Rs. NIL) Expenditure in Foreign Currency is Rs. NIL (Previous Year Rs. NIL) AS 13: Accounting for Investments

Investments are shown at Cost as the Investment being Non Current Asset. The Investments made are in the nature of Unquoted Equity Instruments Rs. 27,12,600/- The Provision for increase or decrease in value of Shares is not provided as it is considered temporary.

AS15 - Retirement Benefits:

The Provisions of the Employees State Insurance Act are not applicable to the company. Therefore no provision for Gratuity is made or provided for.

AS16 – Borrowing Costs:

Borrowing costs include interest cost. Costs in connection with the borrowing of funds to the extent not directly related to the acquisition of qualifying assets are charged to the Statement of Profit and Loss over the tenure of the loan. Capitalisation of borrowing costs is suspended and charged to the Statement of Profit and Loss.

AS 17 Segment Reporting:

The Company''s operations consist of Trading and Finance Based Activities. Hence, there are no reportable segments under Accounting Standard - 17. During the year under report, the Company has engaged in business in India only and not in any other Country. The conditions prevailing in India being uniform, no separate geographical disclosures are considered necessary.

As 18: Related Party Transactions:

The disclosure pertaining to the related party transactions as required by the accounting standard 19(AS-18) by the

Institute of Chartered Accountants of India as applicable are indicated below :

List of related parties with whom transactions have been taken place during the year.

Transactions with Key Management Personnel –

Remuneration To Directors :

Shri Chetan Dogra Rs. 300,000/- (Previous year Rs. 300,000/-)

Shri Viren Vora Rs. 180,000/- (Previous year Rs. 180,000/-)

Shri Kirti Savla Rs. 120,000/- (Previous year Rs. 120,000/-)

AS 19 Leases:

The Company has not leased out any of its assets nor has taken any assets on lease therefore comment on the said clause is not necessary.

AS 20: Earning Per Share (EPS)

Particulars 2012-13 2011-12

Weighted Average No. of Equity Shares 996,000 996,000

Net Profit/(Loss) after tax available for Equity Share Holders Rs. 144,512 172,446

Basic & Diluted Rs. 0.15 0.17

Nominal Value per Share Rs. 10/- 10/-

AS 21 Consolidated Financial Statements:

Since the Company does not have Subsidiary Company. The Accounting Standard As 21 regarding Consolidated Financial Statements is not applicable.

AS 22 Taxes on Income.

Current tax is determined as the amount of tax payable in respect of taxable income for the period.

Provision for Taxation:

Provision for Income Tax Rs.75,0000/-(Previous year Rs.100,000/-) is provided for as per the provisions of the Income

Tax Act,1961.

Provision for Deferred Taxation:

Deferred tax is recognized on timing difference, being the difference between taxable income and accounting income that originate between in one period and are capable of being reversed in one or more subsequent periods. Deferred tax assets are recognized on unabsorbed depreciation and carry forward losses unless there is virtual uncertainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

AS 28 Impairment of Assets

In view of Accounting Standard required by AS-28 Impairment of Assets issued by ICAI, the Company has reviewed its fixed assets and does not expect any loss as on 31st March 2013 on account of impairment in addition to the provision already made in the books.

AS 29 Contingent Liabilities:

Since there are no contingent liabilities in preparation of accounts, the company has not made any provisions for the same. Demand for Rs. 460,270/- for A.Y. 2007-08 towards Income Tax vide order passed u/s 143(3) is raised by the IT Department against which Rs. 150,000/- have been paid. The provision for the balance amount is not considered necessary as the Appeal with relevant authorities has been preferred.

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Mar 31, 2012

AS 1 Accounting Convention

The accounts have been prepared under the historical cost convention. The Company follows the mercantile system of accounting and recognises income and expenditure on accrual basis. The scope of audit covers all aspects of principal, standard accounting policies.

AS 2 Valuation of Inventories

The Company is engaged in the business of Trading of General Merchandise and allied items alongwith finance and investment based activities. The Valuation is based on lower of Cost or Realisable Value. However the company was holding no stock at the year end.

AS 3 Cash Flow Statements

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

AS 4 Contingencies and events occurring after Balance Sheet Date:

There are no contingencies and events occurring after the Balance Sheet date affecting the financial position of the Company. The Demand raised by the Income Tax Authorities u/s 143(3) of the income Tax Act 1961for AY 2009-10 for - 370,480/- has been paid in full by the Company. AS 5 Prior Period And Extra Ordinary Items

There are no material changes or credit which arises in current period, on account of errors or omissions in the preparation of financial statements for one or more prior periods.

AS 6 -Depreciation:

Depreciation on fixed assets is provided on Written Down Value method in respect of Fixed Assets at rates prescribed under Schedule XIV the Companies Act 1956 as amended.

AS 9: Revenue Recognition:

All revenues are generally recognised on accrual basis.

AS 10: Accounting for Fixed Assets:

Fixed assets are stated at cost of acquisition. Acquisition cost includes taxes, duties, freight, insurance and other incidental expenses related to acquisition and installation where applicable. Revenue expenses incidental and related to projects are capitalized along with the related fixed assets, where appropriate. Fixed Assets are stated at cost less accumulated depreciation.

AS 11 : The effect of Changes in Foreign Exchange Rates: Earning in Foreign Exchange is NIL (Previous Year Rs. NIL) Expenditure in Foreign Currency is Rs. NIL (Previous Year Rs. NIL) AS 13: Accounting for Investments

Investments are shown at Cost as the Investment being Non Current Asset. The Investments made are in the nature of Unquoted Equity Instruments Rs. 27,12,600/-

The Provision for increase or decrease in value of Shares is not provided as it is considered temporary.

AS15 - Retirement Benefits:

The Provisions of the Employees State Insurance Act are not applicable to the company. Therefore no provision for Gratuity is made or provided for.

AS16 - Borrowing Costs:

Borrowing costs include interest cost. Costs in connection with the borrowing of funds to the extent not directly related to the acquisition of qualifying assets are charged to the Statement of Profit and Loss over the tenure of the loan. Capitalisation of borrowing costs is suspended and charged to the Statement of Profit and Loss.

AS 17 Segment Reporting:

The Company''s operations consist of Trading and Finance Based Activities. Hence, there are no reportable segments under Accounting Standard - 17. During the year under report, the Company has engaged in business in India only and not in any other Country. The conditions prevailing in India being uniform, no separate geographical disclosures are considered necessary.

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Mar 31, 2010

Basis of Accounting:

The accounts have been prepared under the historical cost convention. The Company follows the mercantile system of accounting and recognises income and expenditure on accrual basis.

Fixed Assets:

Fixed Assets are stated at cost less accumulated depreciation.

Depreciation:

Depreciation on all assets is provided on Written Down Value manner and at the rates prescribed in Schedule XIV to the Companies Act, 1956.

Inventories:

Stocks are valued at cost or market value, whichever is lower. However, the Company was holding no stock at the year end.

Revenue Recognition :

All revenues are generally recognised on accrual basis.

Retirement Benefits :

No provisions for the retirement benefits have been made by the Comany.

Taxes on Income:

Current tax is detemined as the amount of tax payable in respect of taxable income for the period. Deferred tax is recognised on timing difference, being the difference between taxable income and accounting income that originate between in one period and are capable of being reversed in one or more subsequent periods. Deferred tax assets are recognized on unabsorbed depreciation and carry forward losses unless there is virtual uncertanity that sufficient future taxable income will be available against which such deferred tax assets can be realised. Deferred tax assets and deferred tax liabilities are recognized only if either of them are in excess of Rs. 1.00 Lakh.

Prior Period, Extra Ordinary Items & Changes in Accounting Policies. The item relating to Prior period or extra ordinary in nature has not been shown since not being material.