Adisoft Technologies Ltd. कंपली की लेखा नीति

Mar 31, 2025

1    Corporal Infprmgtlon

Artisoft Technologies Private Limited (“the Company*) is a Private Limited Company incorporated in India on February 04, 2013. It is engaged in the business of providing Digital automation solution to automotive & non-automotive industry. It is classified as Domestic Company and is registered at Registrar of Companies, with its registered office at Prathamesh Complex & Trading, Plot No. PAP-BG-102,103.104 & 105. 1st and 2nd Floor. MIDC Chinchwad Industrial Area. Bhosari I.E., Pune. Maharashtra. India. 411026. The CIN of the company is U31108PN2013PT C146157.

2    Bute of P'-QParatiQn

The financial statements of the Company have been prepared in accordance with the generally accepted accounting principles in India (Indian GAAP). The Company has prepared these financial statements to comply in all material aspects with the Accounting Standards notified under section 133 of the Companies Act, 2013 ("the Act"), read together with the Companies (Accounting Standards) Rules, 2021 and presentation requirements of Division I of Schedule III to the Companies Act 2013. The financial statements have been prepared on an accrual basis and under the historical cost convention derivatives financial instruments which have been measured at fair value.

The financial statements are presented in Indian Rupees which is also the functional currency of the Company and all values are rounded to the nearest thousands, except when otherwise indicated. The Company has prepared the financial statements on the basis that it will continue to operate as a going concern.

3    Summary of Significant Accounting Policies

(a)    Use of Estimates

The preparation of financial statements in conformity with Indian GAAP requires the management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of contingent liabilities, at the end of the reporting penod. Although these estimates are based on the management's best knowledge of current events and actions, uncertainty about these assumptions and estimates could result in the outcomes requiring a material adjustment to the carrying amounts of assets or liabilities in future periods.

(b)    Current-non-current classification

All assets and liabilities are classified into current and non-current

A&SSI&.

An asset is classified as current when it satisfies any of the following criteria

(a)    it is expected to be realised in, or is intended for sale or consumption in. the Company's normal operating cyde,

(b)    it is held primarily for the purpose of being traded;

(c)    it is expected to be realised within 12 months after the reporting date; or

(d)    it is cash or cash equivalent unless it is restnded from being exchanged or used to settle a liability for at least 12 months after the reporting date.

Current assets indude the current portion of non-current finandal assets.

All other assets are dassified as non-current.

Liabilities:

A liability is dassified as current when it satisfies any of the following criteria

(a)    it is expected to be settled in the Company's normal operating cycle;

(b)    it is held primarily for the purpose of being traded;

(c)    it is due to be settled vathin 12 months after the reporting date; or

(d)    the Company does not have an unconditional nght to defer settlement of the liability for at least 12 months after the reporting date. Terms of a liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments do not affect its dassification.

Current liabilities indude current portion of non-current finandal liabilities.

All other liabilities are dassified as non-current.

Qpeteting

Operating cyd^ls the time bebyebothe acquisition of assets for processing and their realisation in cash or cash equivalents. The operating cyde of the Company is less th^O'^2 months.

(c)    Tangible Assets

Property, Plant and Equipment

i)    Property, plant and equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. The cost comprises purchase price, borrowing costs if capitalization criteria are met and directly attributable cost of bringing the asset to its working condition for the intended use. Any trade discounts and rebates are deducted in arriving at the purchase price.

ii)    Subsequent expenditure related to an item of property, plant and equipment is added to its book value only if it increases the future benefits from the existing asset beyond its previously assessed standard of performance. All other expenses on existing property, plant and equipment, including day-to-day repair and maintenance expenditure and cost of replacing parts, are charged to the Statement of profit and loss for the period during which such expenses are incurred.

iii)    Gains or losses ansing from derecognition of fixed assets are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in the Statement of profit and loss when the asset is derecognized.

iv)    The Company identifies and determines cost of each component/part of the asset separately, if significant to the total cost of the asset having useful life that is matenally different from that of the remaining life.

(d)    Depreciation on Property, Plant and Equipment

Depreciation on property, plant and equipment is calculated as per wntten down value (WDV) method using the rates amved at based on the useful lives estimated by the management which is in line with Schedule II of Companies Act 2013. The identified components are depreciated separately over their useful lives; the remaining components are depreciated over the life of the principal asset.

(•) Revenue Recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. The following specific recognition critena must also be met before revenue is recognized:

Sale of Goods

Revenue from sale of goods in the course of ordinary activities is recognized when property in the goods or significant risks and rewards of their ownership are transferred to the customer and no significant uncertainty exists regarding the amount of the consideration that will be denved from the sale of the goods and regarding its collection. Revenue from sale of goods is presented net of returns and applicable trade discounts and allowances.

Sale of Services

Income from other services is recognized as and when the services are rendered based on contractual terms and conditions Interest income

Interest income is recognized on a time proportion basis taking into account the amount outstanding and the applicable interest rate. Interest income is included under the head "Other income" in the Statement of Profit and Loss.

Inventories which comprise of stock-in-trade are carried at the lower of cost and net realizable value.

Net realizable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and the estimated costs necessary to make the sale.

Cost of inventories comprises aH costs of purchase and other costs incurred in bringing the mventones to their present location and condition.

In determining the cost, specific-identification method is used. The comparison of cost and net realizable value is made on an item-byntem basis.

(g)    Foreign Currency transactions and balances

(I)    Initial Recognition

Foreign currency transactions are recorded in the reporting currency, by applying to the foreign currency amount the exchange rate between the reporting currency and the foreign currency at the date of the transaction.

(II)    Conversion

Foreign currency monetary items are retranslated using the exchange rate prevailing at the reporting date. Non-monetary items, which are measured in terms of historical cost denominated in a foreign currency, are reported using the exchange rate at the date of the transaction. Nonmonetary items, which are measured at fair value or other similar valuation denominated in a foreign currency, are translated using the exchange rate at the date when such value was determined.

(ill) Exchange Differences

Exchange differences ansing on the settlement of monetary items or on reporting Company's monetary items at rates different from those at which they wens initiaWy recorded dunng the year, or reported in previous financial statements, are recognised as income or as expenses in the year in which they anse.

(h)    Employee Benefits

Employee benefits payable wholly within twelve months of rendering the service are classified as short term employee benefits. These benefits include salaries and wages bonus and ex-gratia. The undiscounted amount of short-term employee services is recognized as an expense as the related service is rendered by employees. Provision for Gratuity is determined on accrual basis on the basis of actuarial valuation.

(I) Leases

Leases under wrtiich Company assumes substantially all the risks and rewards of ownership are financial lease.

Assets acquired under leases other than finance lease are classified as operating lease. The total lease rentals (including scheduled rental increases) in respect of an assets taken on operating lease are charged to the Statement of Profit and Loss on a straight line basis over the lease term unless another systematic basis is more representative of the time pattern of the benefit. Initial direct cost incurred specifically for an operating lease are deferred and charged to the Statement of Profit and Loss over the lease term.

(j) Income Taxes

Income-tax expense comprises current tax (i.e. amount of tax for the penod determined in accordance with the income-tax law) and deferred tax charge or credit (reflecting the tax effects of timing differences between accounting income and taxable income for the period). Income-tax expenses are recognized in Statement of Profit or Loss.

(i) Current Taxes

Current tax is measured at the amount expected to be paid to (recovered from) the taxation authorities, using the applicable tax rates and tax laws.

(il) Deferred Taxes

Deferred tax is recognized in respect of timing differences between taxable income and accounting income i.e. differences that originate in one period and are capable of reversal in one or more subsequent penods. The deferred tax charge or credit and the corresponding deferred tax liabilities or assets are recognized using the tax rates and tax laws that have been enacted or substantively enacted by the Balance Sheet date.

Deferred tax assets are recognized only to the extent there is reasonable certainty that the assets can be realized in future; however, where there is unabsorbed depreciation or earned forward loss under taxation laws, deferred tax assets are recognized only if there is a virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax assets can be realized. Deferred tax assets are reviewed as at each Balance Sheet date and wntten down or wntten-up to reflect the amount that is reasonably / virtually certain (as the case may be) to be realized.

(k)    Earnings Per Share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding dunng the penod.

(l)    Provisions and Contingent Liabilities

A provision is recognized when the Company has a present obligation as a result of past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

A contingent liability is a possible obligation that anses from past events whose existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the Company or a present obligation that is not recognized because it is not probable that an outflow of resources wiH be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably. The Company does not recognize a contingent liability but discloses its existence in the financial statements.

(m)    Cash and Cash Equivalents

Cash and cash equivalents for the purpose of cash flow statement comprise of cash at bank and in hand and short term investments with an original maturity of three months or less.