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Available Finance Ltd. कंपली की लेखा नीति
Mar 31, 2025
1. CORPORATE INFORMATION
Available Finance Limited (''the Company'') is a company limited by shares and is domiciled in India. The company''s registered office is situated at Agarwal House, 5 Yeshwant Colony Indore 452003 MP India. As an Unregistered CIC, the Company is primarily a holding company, holding investments in its subsidiaries, associates, and other group companies. The Company''s associates are engaged in a wide array of businesses in the Trading sector. Its equity shares are listed in India on Bombay stock Exchange (BSE).
These standalone financial statements of the Company for the year ended March 31, 2025, were authorized for issue by the Board of Directors on 29/05/2025, pursuant to the provision of the Companies Act, 2013 (the ''Act'') Securities and Exchange Board of India and other statutory regulatory bodies.
2. Basis of preparation and measurement
a. Statement of compliance:
These standalone financial statements are prepared and presented in accordance with the Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time as notified under section 133 of Companies Act, 2013, the relevant provisions of the Companies Act, 2013 ("the Act").
Thestandalone financial statements have been prepared and presented on the going concern basis and at historical cost, except for the following assets and liabilities, which have been measured as indicated below:
⢠Certain financial assets and liabilities at fair value [refer accounting policy regarding financial instruments (covered under para 3.5)]
⢠Employee benefit obligations measured at the present value of defined benefit obligations(see accounting policy 3.9).
c. Functional and Presentation Currency:
The standalone financial statements are presented in Indian Rupees O''1 "), which is the functional currency of the Company and the currency of the primary economic environment in which the Company operates, and all values are rounded to the nearest thousands, up-to 2 decimal places except as otherwise indicated. 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.
d. Classification of Assets and Liabilities as Current and Non-Current:
All assets and liabilities are classified as current or non-current as per the Company''s normal operating cycle, and other criteria set out in Schedule III of the Companies Act, 2013. Based on the nature of products and the time lag between the acquisition of assets for processing and their realisation in cash and cash equivalents, 12-month period has been considered by the Company as its normal operating cycle.
e. Use of estimates and judgements
The preparation of thestandalone financial statements in conformity with IND AS requires the use of estimates, judgements and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. Management believes that the estimates made in the preparation of the standalone financial statements are prudent and reasonable. Actual results could differ from those estimates.
Any revision to accounting estimates is recognised prospectively in current and future periods.
Information about critical judgments in applying accounting policies, as well as estimates and assumptions that have the most significant effect to the carrying amounts of assets and liabilities within the next financial year, are as follows:
⢠Useful life and residual value of property, plant and equipment and intangible assets
Useful lives of tangible, Investment Property and intangible assets are based on the life prescribed in Schedule II of the Act. In cases, where the useful lives are different based from that prescribed in Schedule II of the Act, they are based on internal technical evaluation. Assumptions are also made, when the Company assesses, whether an asset may be capitalised and which components of the cost of the asset may be capitalised.
⢠Expected Credit losses and Impairment losses on investment
The Company reviews it carrying value of investments carried at amortised cost annually or more frequently when there is indication for impairment. If the recoverable amount is less than its carrying amount, the impairment loss is accounted for.
⢠Fair value measurement of financial instruments
When the fair values of the financial assets and liabilities recorded in the balance sheet cannot be measured based on the quoted market prices in active markets, their fair value is measured using valuation technique. The inputs to these models are taken from the observable market where possible, but where this is not feasible, a review of judgement is required in establishing fair values. Any changes in the aforesaid assumptions will affect the fair value of financial instruments
⢠Evaluation of Net realisable Value of Inventories
Inventories of Traded goods are valued at lower of cost and net realisable value. Net Realisable value is based upon the estimates of the management. The effect of changes, if any, to the estimates is recognised in the standalone financial statements for the year in which such changes are determined.
⢠Recognition of deferred tax asset
The Company''s tax jurisdiction is India. Judgments are involved in determining the provision for income taxes, including the amount expected to be paid or recovered for uncertain tax positions.
The recognition of deferred tax requires assumptions about the availability of future taxable profits against which the tax losses can be carried forward. The Company reviews the carrying amount of deferred tax assets at the end of each reporting period.
⢠Impairment of non-financial assets
The Company assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Company''s estimates the asset''s recoverable amount. An asset''s recoverable amount is the higher of assets or Cash Generating Units'' (''CGU0 fair value less costs of disposal and its value in use. It is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent to those from other assets or groups of assets. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.
In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less cost of disposal, recent market transactions are considered. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples or other available fair value indicators.
⢠Provisions and contingent liabilities
A provision is recognised when the Company has a present obligation as a result of past events, and it is probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made.
Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle or a reliable estimate of the amount cannot be made. Contingent liabilities are disclosed in the notes. Contingent assets are not recognised in the standalone financial statements.
Provisions and contingent liabilities are reviewed at each balance sheet date.
The Company measures financial instruments, such as investments (other than equity investments in Subsidiary) at fair values at each Balance Sheet date.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:
In the principal market for the asset or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible by the Company.
The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, if market participants act in their economic best interest.
A fair value measurement of a non-financial asset considers a market participant''s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.
The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs. All assets and liabilities (for which fair value is measured or disclosed in the standalone financial statements) are categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:
The Company''s accounting policies and disclosures require the measurement of fair values for financial and nonfinancial assets and liabilities.
The Company has an established control framework with respect to the measurement of fair values. The management regularly reviews significant unobservable inputs and valuation adjustments.
When measuring the fair value of a financial asset or a financial liability, the Company uses observable market data as far as possible. Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows:
Level 1: quoted prices in active markets for identical assets or liabilities.
Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices).
Level 3: inputs for the asset or liability that are not based on observable market data. If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorised in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement.
The Company recognises transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred.
For recurring and non-recurring fair value measurements, the Company determines whether transfers between levels in the fair value hierarchy have occurred by re-evaluating categorisation (based on the lowest level input that is significant to the entire fair value measurement) at the end of each reporting period.
3. Summary of significant accounting policies3.1 Property, Plant and Equipment (PPE)and depreciation and amortisation:
i) Recognition and Measurement:
Items of property, plant, and equipment are measured at cost less accumulated depreciation and impairment losses, if any. The cost of an item of property, plant and equipment comprises:
⢠its purchase price, including import duties and non-refundable purchase taxes, after deducting trade discounts and rebates; and
⢠Any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant and equipment.
An asset under construction includes the cost of property, plant and equipment that are not ready to use at the balance sheet date. Advances paid to acquire property; plant and equipment before the balance sheet date are disclosed under other non-current assets. Assets under construction are not depreciated as these assets are not yet ready for use.
ii) Subsequent expenditure
Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to the Company and the cost of the expenditure can be measured reliably.
iii) Depreciation and amortisation
Depreciable amount for assets is the cost of an asset, or other amount substituted for cost, less its estimated residual value.
Depreciation on property, plant and equipment of the Company has been provided using the straight-line method based on the useful lives specified in Schedule II to the Companies Act, 2013.
A summary of the policies applied to the Company''s tangible assets is, as follows:
|
Tangible assets |
Useful life (Years) |
|
Office equipment |
5 |
|
Plant and Machinery |
15 |
|
Office Building |
60 |
|
Furniture and fixtures |
10 |
|
Information Technology Hardware |
3 |
|
Vehicles |
6- 10 |
iv) De-recognition:
An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from continued use of the asset. Any gain or loss arising on the disposal or retirement of property, plant and equipment is determined as the difference between the sale proceeds and the carrying amount of the assets and is recognized in Statement of Profit and Loss.
3.2 Intangible assets and amortisation
i) Recognition and measurement:
Items of Intangible Assets are measured at cost less accumulated amortisation and impairment losses, if any. The cost of intangible assets comprises:
⢠its purchase price, including import duties and non-refundable purchase taxes, after deducting trade discount sand rebates; and
⢠Any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Gains or losses arising from de-recognition of an intangible asset 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.
ii) Subsequent expenditure
Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to the Company and the cost of the expenditure can be measured reliably.
iii) Amortisation
The intangible assets of the Company are assessed to be of finite lives and are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The Company reviews amortization period on an annual basis. Intangible assets are amortized on straight line basis in accordance with IND AS 38 and Schedule II to the Companies Act, 2013 or based on technical estimates.
A summary of the policies applied to the Company''s Intangibles is, as follows:
|
Intangible assets |
Useful lives |
|
Software |
6 |
3.3 Impairment of non-financial assets
The carrying values of assets / cash generating units at each balance sheet date are reviewed for impairment if any indication of impairment exists. If the carrying amount of the assets exceeds the estimated recoverable amount, an impairment loss is recognised for such excess amount. The impairment loss is recognised as an expense in the Statement of Profit and Loss, unless the asset is carried at revalued amount, in which case any impairment loss of the revalued asset is treated as a decrease to the extent a revaluation reserve is available for that asset.
The recoverable amount is the greater of the net selling price and the value in use. Value in use is arrived at by discounting the future cash flows to their present value based on an appropriate discount factor. When there is indication that an impairment loss recognised for an asset (other than a revalued asset) in earlier accounting periods which no longer exists or may have decreased, such reversal of impairment loss is recognised in the Statement of Profit and Loss, to the extent the amount was previously charged to the Statement of Profit and Loss. In case of revalued assets, such reversal is not recognised.
3.4 Foreign currency transactions
Transactions in foreign currencies are translated into the Company''s functional currency at exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies at the reporting date are translated into the functional currency at the exchange rate at that date.
Non-monetary assets and liabilities that are measured based on historical cost in a foreign currency are translated at the exchange rate at the date of the transaction.
Exchange differences arising on the settlement of monetary items or on translating monetary items at rates different from those at which they were translated on initial recognition during the period or in previous Standalone financial statements are recognised in the Statement of Profit and Loss in the period in which they are settled.
3.5 Financial Instruments I. Financial assetsClassification
The Company classifies financial assets as subsequently measured at amortised cost, fair value through other comprehensive income or fair value through profit or loss based on its business
model for managing the financial assets and the contractual cash flow characteristics of the financial asset.
Initial recognition and measurement
Trade receivables and debt securities issued are initially recognised when they originate.
The Company recognises financial assets (other than trade receivables and debt securities) when it becomes a party to the contractual provisions of the instrument. All financial assets are recognised initially at fair value plus transaction costs that are attributable to the acquisition of the financial asset.
Subsequent measurement
For subsequent measurement, the financial assets are classified in three categories:
⢠Equity investments
Equity investments
All equity investments other than investment in subsidiaries, joint ventures and associate are measured at fair value. For all other equity instruments, the Company decides to classify the same at fair value through other comprehensive income (FVTOCI). The Company makes such election on an instrument-by-instrument basis. The classification is made on initial recognition and is irrevocable.
The Company decides to classify an equity instrument as at FVTOCI, then all fair value changes on the instrument, excluding dividends, are recognised in other comprehensive income (OCI). There is no recycling of the amounts from OCI to the Statement of Profit and Loss, even on sale of such investments.
Derecognition
A financial asset (or, where applicable, a part of a financial asset) is primarily derecognised when:
(a) The rights to receive cash flows from the asset have expired, or
(b) The Company has transferred substantially all the risks and rewards of the asset, or
(c) The Company has neither transferred nor retained substantially all the risks and rewards of the asset but has transferred control of the asset.
Impairment of financial assets
The Company applies ''simplified approach'' measurement and recognition of impairment loss on the following financial assets and credit risk exposure:
a) financial assets that are debt instruments, and are measured at amortised cost e.g., loans, debt securities, deposits, and bank balance.
b) Trade receivables.
The application of simplified approach does not require the Company to track changes in credit risk. Rather, it recognises impairment loss allowance based on lifetime Expected Credit Loss at each reporting date, right from its initial recognition.
II. Financial LiabilitiesClassification
The Company classifies all financial liabilities as subsequently measured at amortised cost.
Initial recognition and measurement
All financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.
After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost using the Effective Interest Rate (EIR) method. Gains and losses are recognised in the Statement of Profit and Loss when the liabilities are derecognised.
Amortised cost is calculated by taking into account any discount or premium on acquisition and transactions costs. The EIR amortisation is included as finance costs in the Statement of Profit and Loss.
This category generally applies to loans and borrowings.
Derecognition
A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the Statement of Profit and Loss.
III. Offsetting of financial instruments
Financial assets and financial liabilities are offset, and the net amount is reported in the balance sheet if there is an enforceable legal right to offset the recognised amounts and there is an intention to settle them on a net basis or to realise the assets and settle the liabilities simultaneously.
The Company derives its revenue primarily from its core business operations, including the sale of goods and/ or rendering of services, as applicable.
Revenue from services is recognised as they are rendered based on agreements/arrangements with the concerned parties and recognised net of Goods and Service Tax (GST) (as applicable).
The Company recognises revenue when it satisfies a performance obligation by transferring control of a good or service to the customer. Control is considered transferred when the customer has the ability to direct the use of and obtain substantially all of the remaining benefits from the asset. Revenue is recognised either at a point in time or over time, based on the nature of the performance obligation and enforceability of the right to payment for performance completed to date.
Revenue is measured at the fair value of consideration received or receivable considering of discounts, incentives, volume rebates, and outgoing taxes on sales. Any amounts receivable from the customers are recognised as revenue after the control over the goods sold are transferred to the customer which is generally on dispatch of goods.
Interest income is accounted on an accrual basis at effective interest rate. Interest on delayed payment and forfeiture income are accounted based upon underlying agreements with customers.
At the inception of a contract, the Company assesses whether a contract is or contains, a lease. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange of consideration. To assess whether a contract conveys the right to control the use of an asset the Company assesses whether:
⢠The contracts involve the use of an identified asset - this may be specified explicitly or implicitly and should be physically distinct or represent substantially all of the capability of a physical distinct asset. If the supplier has a substantive substitution right, then the asset is not identified
⢠The Company has the right to obtain substantially all of the economic benefits from use of the asset throughout the period of use; and
⢠The Company has the right to direct the use of the asset. The Company has this right when it has the decision-making rights that are most relevant to changing how and for what purpose the asset is used.
As a Lessee Right-of-use Asset
The Company recognises a right-of-use asset and a lease liability at the lease commencement date. At the commencement date, a lessee shall measure the right-of-use asset at cost which comprises initial measurement of the lease liability, any lease payments made at or before the commencement date, less any lease incentives received, any initial direct costs incurred by the lessee; and an estimate of costs to be incurred by the lessee in dismantling and removing the underlying asset, restoring the site on which it is located or restoring the underlying asset to the condition required by the terms and conditions of the lease.
Lease Liability
At the commencement date, a lessee shall measure the lease liability at the present value of the lease payments that are not paid at that date. The lease payments shall be discounted using the interest rate implicit in the lease, if that rate can be readily determined. If that rate cannot be readily determined, the lessee shall use the lessee''s incremental borrowing rate.
Short-term lease and leases of low-value assets
The Company has elected not to recognise right-of-use assets and lease liabilities for short-term leases that have a lease term of less than 12 months or less and leases of low-value assets. The Company recognises the lease payments associated with these leases as an expense on a straight-line basis over the lease term.
The election for short-term leases shall be made by class of underlying asset to which the right of use relates. A class of underlying asset is a grouping of underlying assets of a similar nature and use in Company''s operations. The election for leases for which the underlying asset is of low value can be made on a lease-bylease basis.
Income tax expense comprises current tax and deferred tax. It is recognised in the Statement of Profit and Loss except to the extent that it relates to items recognised directly in equity or in OCI.
Current tax
Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable or receivable in respect of previous years. It is measured using tax rates enacted or substantively enacted at the reporting date.
Current tax assets and liabilities are offset only if, the Company:
a) Has a legally enforceable right to set off the recognised amounts; and
b) Intends either to realise the asset or settle the liability on a net basis or simultaneously.
Deferred tax
Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax assets are recognised for unused tax losses, unused tax credits and deductible temporary differences to the extent there is convincing evidence that sufficient taxable profit will be available against which such deferred tax asset can be realised.
Deferred tax assets are reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit will be realised; such reductions are reversed when the probability of future taxable profits improves. Deferred tax liabilities are recognised for taxable temporary differences
Unrecognised deferred tax assets are reassessed at each reporting date and recognised to the extent that it has become probable that future taxable profits will be available against which they can be used.
Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, using tax rates enacted or substantively enacted at the reporting date.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws), that have been enacted or substantively enacted at the reporting date.
Deferred tax, relating to items recognised outside profit or loss, is recognised outside profit or loss (either in Other Comprehensive Income or in other equity). Deferred tax items are recognised in correlation to the underlying transaction either in OCI or directly in other equity.
Deferred tax assets and deferred tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against current tax liabilities, and the deferred taxes relate to the same taxable entity and the same taxation authority.
⢠Short-Term Employee Benefits
The undiscounted amount of short-term employee benefits expected to be paid in exchange for the services rendered by employees are recognised as an expense during the period when the employees render the services.
Accumulated leave, which is expected to be utilised within the next 12 months, is treated as short-term employee benefit. The Company measures the expected cost of such absences as the additional amount that it expects to pay as a result of the unused entitlement that has accumulated at the reporting date. The Company recognizes expected cost of short-term employee benefit as an expense, when an employee renders the related service.
The Company treats accumulated leave expected to be carried forward beyond twelve months, as longterm employee benefit for measurement purposes. Such long-term compensated absences are provided for based on the actuarial valuation using the projected unit credit method at the reporting date. Actuarial gains/ losses are immediately taken to the statement of profit and loss and are not deferred. The obligations are presented as current liabilities in the balance sheet if the entity does not have an unconditional right to defer the settlement for at least twelve months after the reporting date.
⢠Post-Employment Benefits
⢠Defined Contribution Plans
A defined contribution plan is a post-employment benefit plan under which the Company pays specified contributions to a separate entity. The Company makes specified monthly contributions towards Provident Fund. The Company''s contribution is recognised as an expense in the Statement of Profit and Loss during the period in which the employee renders the related service. If the contribution payable to the scheme for service received before the balance sheet date exceeds the contribution already paid, the deficit payable to the scheme is recognized as a liability after deducting the contribution already paid.
⢠Defined Benefits Plans
The Company operates a defined benefit gratuity plan, which requires contributions to be made to Life Insurance Corporation of India.
The cost of the defined benefit plan and other post-employment benefits and the present value of such obligations are determined using actuarial valuations being carried out at the end of each annual reporting period. An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount rate, future salary increases, mortality rates and future pension increases. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.
The Company pays gratuity to the employees whoever has completed five years of service with the Company at the time of resignation/superannuation. The gratuity is paid @15 days salary for every completed year of service as per the Payment of Gratuity Act, 1972.
The liability in respect of gratuity and other post-employment benefits is calculated using the Projected Unit Credit Method and spread over the period during which the benefit is expected to be derived from employees'' services.
Remeasurements, comprising of actuarial gains and losses, the effect of the asset ceiling, excluding amounts included in net interest on the net defined benefit liability and the return on plan assets (excluding amounts included in net interest on the net defined benefit liability), are recognised immediately in the balance sheet with a corresponding debit or credit to retained earnings through OCI in the period in which they occur.
Remeasurements are not reclassified to profit or loss in subsequent periods.
Past service costs are recognised in profit or loss on the earlier of:
⢠The date of the plan amendment or curtailment, and
⢠The date that the Company recognises related restructuring costs.
Net interest is calculated by applying the discount rate to the net defined benefit liability or asset. The Company recognises the following changes in the net defined benefit obligation as an expense in the Consolidated statement of profit and loss:
Service costs comprising current service costs, past-service costs, gains and losses on curtailments and non-routine settlements; and net interest expense or income.
Borrowing cost includes interest expense, amortisation of discounts, hedge - related cost incurred in connection with foreign currency borrowings, ancillary costs incurred in connection with borrowing of funds and exchange difference, arising from foreign currency borrowings to the extent they are regarded as an adjustment to the interest cost.
Borrowing costs, that are attributable to the acquisition or construction or production of a qualifying asset, are capitalised as part of the cost of such asset till such time the asset is ready for its intended use. A qualifying asset is an asset that necessarily takes a substantial period to get ready for its intended use.
All other borrowing costs are recognised as an expense in the period in which they are incurred.
3.11 Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and on hand and short-term deposits with an original maturity of three months or less, which are subject to an insignificant risk of changes in value.
For the Statement of Cash Flows, cash and cash equivalents consist of cash and short-term deposits, as defined above, net of outstanding bank overdrafts as they are considered an integral part of the Company''s cash management.
Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of a non-cash 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.
Basic earnings per share are computed by dividing the profit / (loss) after tax by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed by dividing the profit / (loss) after tax as adjusted for dividend, interest and other charges to expense or income (net of any attributable taxes) relating to the dilutive potential equity shares, by the weighted average number of equity shares considered for deriving basic earnings per share and the weighted average number of equity shares which could have been issued on conversion of all dilutive potential equity shares. If potential equity shares converted into equity shares increases the earnings per share, then they are treated as anti-dilutive and anti-dilutive earning per share is computed.
Basic and diluted earnings per share are computed and presented in accordance with Ind AS 33 - Earnings per Share.
3.14 Provisions and contingent liabilities
A provision is recognised when the Company has a present legal or constructive obligation as a result of past events, and it is probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions (excluding retirement benefits) are discounted to their present value at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. The unwinding of the discount is recognised as finance cost.
Contingent liabilities are disclosed in the notes. Contingent liabilities are disclosed for:
(1) Possible obligations which will be confirmed only by future events not wholly within the control of the Company or
(2) Present obligations arising from past events where it is not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made.
Contingent assets are not recognised in the standalone financial statements. However, the same are disclosed in the standalone financial statements where an inflow of economic benefit is probable.
3.15 Events after reporting date
Events after the reporting period are classified into adjusting and non-adjusting events. Adjusting events provide evidence of conditions that existed at the end of the reporting period, while non-adjusting events are those that are indicative of conditions that arose after the reporting period. Adjusting events are reflected in the standalone financial statements; non-adjusting events of material size or nature are disclosed in the notes
Exceptional items include income or expense that are part of ordinary activities, however, are of such significance and nature that separate disclosure enables the user of Standalone financial statements to understand the impact in a more meaningful manner Exceptional items are identified by virtue of either their size or nature so as to facilitate comparison with prior periods and to assess underlying trends in the financial performance of the Company.
Exceptional items are presented separately in the standalone financial statements and excluded from the computation of EBITDA to enable better understanding of the Company''s normal operating performance.
Mar 31, 2024
A* Corporate Information
Available Finance Limited (''the Company^ is a company limited by shares and is domiciled in India. The company''s registered office is situated at Agarwal House, S Yeshwant Colony Indore 452003 MP India. As an Unregistered CIC the Company is primarily a holding company, holding investments in its associates, and other group companies. The Company''s associates are engaged in a wide array of businesses in the Trading sector. Its equity shares are listed In India on Bombay stock Exchange (BSE).
These standalone financial statements of the Company for the year ended March 31, 2024, were authorized for issue by the Board of Directors on 30/05/2024, pursuant to the provision of the Companies Act, 2013 (the ''Act'') Securities and Exchange Board of India and other statutory reguiatory bodies.
B, Significant accounting policies
1. Statement of compliance
These standalone financial statements are prepared and presented in accordance with the Indian Accounting Standards (Ind A5) notified under the Companies (Indian Accounting Standards) Rules, 2015, as amended from time to time as notified under section 133 of Companies Act, 2013, the relevant provisions of the Companies Act, 2013 ("the Act").
4
2. Basis of Preparation
The standalone financial statements have been prepared on accrual basis and under the historical cost convention except for certain financial instruments which are measured at fair vafue at the end of each reporting period, as explained in the accounting policies mentioned below.
The financial statements have been prepared in accordance with the requirements of-the information and disclosures mandated by Schedule III (Division - lil) of the companies Act, applicable Ind AS and other applicable pronouncements and regulations.
The financial statements including notes thereon are presented in Indian Rupees ("Rupees" or "INft"), which is the Company''s functional and presentation .currency. All
amounts disclosed in the financial statements Including notes thereon have been rounded off to the nearest thousands of Rupees as per the requirement of Schedule Hi to the Act, unless stated otherwise,
3. Use of Estimates, Judgments and Assumptions
The preparation of financial statements in accordance with Ind AS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amount of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected,
Significant areas of estimation, uncertainty and critical judgements in applying accounting policies that have significant effect on amount recognized in the financial statements are:
i. Allowance for bad and doubtful trade receivable.
ii. Recognition and measurement of provision and contingencies,
Ifi. Depredation/ Amortisation and useful lives of Property, plant, and equipment / intangible assets.
Iv, Recognition of deferred tax.
v. Income Taxes.
vi. Measurement of defined benefit obligation,
vii. Impairment of noft-finandal assets arid financial assets.
4. Changes in accounting policies and disclosures:
The Company has not early adopted any standards or amendments that,have been issued but are not yet effective.
5. Revenue Recognition
a. interest income is recognized on accrual basis using the effective interest method,
b. Revenue from contract with customer is recognised upon transfer of control of promised products or services to customers in an amount that reflects the consideration which the Company expects to receive in exchange for those products or services. Revenue is measured based on the transaction price, which is the consideration, adjusted for discounts and other incentives, If any, as per contracts with the customers.
i. Other operational revenue represents income earned from the activities incidental to the business and Is recognized when the performance obligation Is satisfied and riqht to receive the income is established aSj^fth^tofjihs of the contract.
c. Dividend income is recognised in profit or loss on the date on which the company''s right to receive payment is established,
6. Property, Plant and Equipment
a. Measurement and recognition:
An item of property,, plant and equipment that qualifies as an asset is measured on initial recognition at cost.
Following initial recognition, items of property, plant and equipment are carried at its cost less accumulated depredation and accumulated impairment losses, if any.
The cost of an item of property, plant and equipment comprises of ''its purchase price including import duties and other non-refundable purchase taxes or levies, directly attributable cost of bringing the asset to its working condition for its intended use and the initial estimate of decommissioning, restoration and similar liabilities, if any.
Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to the company,
b. Depreciation:
Depreciation is provided using straight-line method as specified in Schedule II to the Companies Act 2013. Depredation on assets acquired / disposed off during the year is provided on pro-rata basis with reference to the date of addition / disposal.
c. Derecognition:
An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits ere expected to arise from continued use of the asset. Any gain or loss arising on the disposal or retirement of property, plant and equipment is determined ?£ the difference between the saie proceeds and the carrying amount of the assets and is recognised in Statement of Profit and Loss,
7. Intangible assets
a. Measurement and recognition:
Intangible assets are heid at cost less accumulated amortisation and impairment losses. Intangible assets developed or acquired with finite useful iife are amortised on straight line basis over the useful life of asset,
Subsequent expenditure is capitalised only when it increases the future economic benefits embodied in the specific asset to which It relates or when the development stage is
achieved. All other expenditure, including expenditure on internally generated goodwill and brands, when incurred is recognised in statement of profit and loss.
b. Amortisation
The intangible assets of the Company are assessed to be of finite lives and are amortized over the useful economic Iffe and assessed for impairmenL whenever there is an indication that the intangible asset may be Impaired, The Company reviews amortization period on an annual basis. Intangible assets are amortized on straight line basis in accordance with IND AS SB and Schedule Jl to the Companies Acb2Q13 or based on technical estimates.
c. Derecognition:
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.
3. Impairment of non âfinancial asset
The company assesses at each reporting date whether there is any objective evidence that a non-finantial asset or a group of nort-finandai assets are impaired. If any such indication exists, the company estimates the amount of Impairment loss. For the purpose of assessing impairment the smallest identifiable group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows from other assets or group of assets is considered as cash generating unit. If any such indication exists, an estimate of the recoverable amount of the individual asset/cash generating unit ts made.
An impairment loss is calculated as the difference between an assetâs carrying amount and recoverable amount. Losses are recognized in profit or loss and reflected in an allowance account. When the company considers that there are no realistic prospects of recovery of the asset the relevant amounts are written off. If the amount of impairment loss subsequently decreases and the decrease can be related objectively to an event occurring after the impairment was recognized, then the previously recognized impairment ioss is reversed through profit or loss.
When an impairment loss subsequently reverses, the carrying amount of the asset (or a cash-generating unit) Is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been In place had there been no impairment loss been recognized for the asset (or
cash-generating unit) irt prior years. A reversal of an Impairment loss is recognized Immediately in Statement of Profit and Loss, taking Into account the normal de p redat io n/a m ortlzati on.
9. Taxation
The income tax expense or credit for the period is the tax payable on the current period''s taxable income based on the applicable income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses.
a. Current taxes
Provision for current tax is made after taking into consideration benefits admissible under provisions of the Income Tax Act, 1961, Minimum Alternative Tax (MAT) credit entitlement is recognized where there is convincing evidence that the same can be realized in future.
b, Deferred Taxes
The deferred tax charge or credit the corresponding deferred tax liabilities or assets are recognized using the tax rates that have been enacted or substantively enacted by the balance sheet date. Deferred tax assets are recognized only to the extent there Is reasonable certainly that the assets can be realized In future; however, where there is unabsorbed depreciation or carried forward loss under taxation laws, deferred tax assets are recognized only if there is reasonable certainty of realization of such assets.
TO. Provisions, contingent liabilities, and contingent assets
The Company creates a provision when there is a present obligation as a result of past events and it is probable that there will be outflow of resources and a reliable estimate of the obligation can be made of the amount of the obligation, Contingent liabilities are not recognized but are disclosed in the notes to the financial statements. A disclosure for a contingent liability Is made when there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote,
Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate- if it is no longer probable that the outflow of resources would he required to settle the obligation, the provision Is reversed.
Contingent assets are neither recognized nor disclosed in the financial statements.
11. Fair Value Measurement
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The-fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either in the principal market for the asset or liability, or in the absence of a principal market, fn the most advantageous market for the asset or [lability. The principal or the most advantageous market must be accessible to the Company. ,
The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or [lability, assuming that market participants act in their economic best interest, A fair value measurement of a non.â financial asset takes into account a market participant''s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.
The Company uses valuation techniques that are appropriate In the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest''level input that is significant to the fair value measurement as a whole:
* Level 1 - quoted (unadjusted) market prices in active markets for identical assets or liabilities,
* Level 2 - inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.
* Levei 3 - inputs that are unobservable for the asset or liability.
For assets and liabilities that are recognized in the financial statements at fair value on a recurring basis, the- Company determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization at the reporting period and
discloses the same. f/^/ fs ^V*\\
12. Financial Instruments
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Financial Instruments also include derivative contracts such as foreign currency foreign exchange forward contracts, interest rats swaps and currency options, and embedded derivatives in the host contract.
a. Financial Assets
Classification:
The Company shall classify financial assets and subsequently measured at amortised cost, fair value through other comprehensive income (FVOCf) or fair value through profit or loss (FVTPL) on the basis of its business model for managing the financial assets and the contractual cash flow characteristics of the financial asset
Initial recognition and measurement: *
Ail financial assets are recognised initially at fair value plus transaction costs that are attributable to the acquisition of the financial asset in the case of financial assets not recorded at fair value through profit or Joss. Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way trades) are recognised on the trade date, i.e., the date that the company commits to purchase or sell the asset.
Fair value through profit or loss:
Assets that do not meet the criteria for amortized cost or FVQCi are measured at fair value through profit or loss. A gain or Joss on a debt investment that Is subsequently measured at fair value through profit or loss and is not part of a hedging relationship is recognized in Statement of Profit and Loss in the period in which it arises, unless it arises from debt instruments that were designated at fair value or which are not held for trading. Interest income from these financial assets is included in Interest income'' using the effective interest rate method.
Fair value through other oo m prehen si ve income:
Financial assets that are held for collection of contractual cash flows and for selling the assets, where the assets'' cash flows represent solely payments of principal and Interest, and that are not designated at FVPL, are measured at fair value through other comprehensive income, Movements in the carrying amount are taken through FVQCI, except for the recognition of Impairment gains or losses, interesjc-teitfinue and foreign exchange gams and losses on the instrument''s amortized cost A^fci^wsqjetocinized In
ff j n, \ c"â \\
profit or loss. When the financial asset is derecognized, the cumulative gain or loss previously recognized in GCI is reclassified from equity to profit or loss. Interest Income from these financial assets is included in ''Interest income'' using the effective interest rate method.
Amortized Cost:
Assets that are held for contractual cash flows where those cash flows represent soleJy payments of principal and interest fSPPI''}, and that are not designated at PVT PL, are measured at amortized cost, The carrying amount of these assets is adjusted by any expected credit loss allowance recognized and measured. Interest income from these financial assets is recognized using the effective interest rate method-
interest income:
Interest income is calculated by applying the effective interest rate to the gross carrying amount of financial assets.
f
Equity instruments:
Equity instruments are instruments that meet the definition of equity from the issuer''s perspective; that is, instruments that do not contain a contractual cbilgation to pay and that evidence a residual interest in the issuer''s net assets. Ind AS 109 requires all investments in equity instruments and contracts on those instruments to be measured at fair value.
The Company subsequently measures all quoted equity investments at fair value. Where the company''s management has elected to present fair value gains and losses on equity Investments in other comprehensive income, there is no subsequent reclassification for fair value gains and losses to profit or loss following the de-recognition of the investment (
The Company subsequently measures all un-quoted equity investments at cost based on the requirements of Ind AS 109, where in some limited circumstances cost is a more appropriate estimate of fair value, that may be the case if insufficient more recent information is available to measure the fair value or if there is a wide range of possible fair value measurements and cost represents the best estimate of the fair value within that range.
Changes in the fair value of financial assets at fair value through profit or Joss are recognized in net gain/ loss on fair value changes in the statemej j)d loss,
i f tf? / IV ¦
impairment losses (end reversal of impairment losses) on equity investments measured at FVOC1 are not reported separately from other changes in fair value,
Gains and losses on equity investments at FVTPL are included in the Statement of Profit and Loss,
De-recognition:
A financial asset [or, where applicable, a part of a financial asset or part of a company of similar financial assets) is primarily derecognised (i,e. removed from the company''s balance sheet) when:
a, The rights to receive cash flows from the asset have expired, or
b. The company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash fiows in full without material delay to a third party under a ''pass-through'' arrangement and either (a) the company has transferred substantially all the risks and rewards of the asset, or (b) the company has
i
neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset,
c, When the company has transferred its rights to receive cash flows from an asset or has entered into 3 pass-through arrangement, it evaluates If and to what extent it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset nor transferred control of the asset the company continues to recognise the transferred asset to the extent of the company''s continuing involvement in that case, the company also recognises an associated liability, The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the company has retained,
d. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the company could be required to repay,
Impairment of financial assets:
In accordance with Jnd-AS 109, the Company applies expected credit loss (ECL) model for measurement and recognition of impairment loss on the following financial assets and credit risk exposure: ,^=7=5^
a. Financial assets that ate debt instruments, and are measured at amortised cost
e.g., loans, debt securities, deposits, and bank balance:
The Company follows general approach for recognition of impairment loss allowance for financials assets other than trade receivables. In general approach, the financial asset is divided into 3 stages and the amount of ECL is recognized depending on the stage of the financial asset into consideration.
The loss under this approach is either based on the 12 months ECL or lifetime ECL. All financial assets falling in stage 1 is performing and requires 12 months ECL, whereas financial assets in stage 2 where the credit risk has increased significantly post recognition or financial assets in stage 3 which are credit impaired a lifetime ECL is required.
b. Financial Liabilities
Classification: 1
The Company classifies all financial liabilities as subsequently measured at amortised cost, except for financial liabilities at fair value through profit or foss. Such liabilities, including derivatives that are liabilities, shall be subsequently measured at fair value.
Initial recognition and measurement:
Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or ioss or amortised costs,
Loans and borrowings
After initial recognition, interest-bearing loans end borrowings are subsequently measured at amortised cost using the EIR method. Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the EJR amortisation process.
De-recognition:
A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified such an exchange or modification is treated as the de-recognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the statement of profit or loss,
Offsetting
Financial assets and financial liabilities are offset and the net amount is presented in the balance sheet when, and when the company has a legally enforceable right to set off the amount and it intends either to settle therm on net basis or to realize the asset and settle the liability simultaneously.
Derivative financial instruments
The company uses derivative financial instruments, such as forward currency contracts, interest rate swaps and forward commodity contracts, to hedge its foreign currency risks, interest rate risks and commodity price risks, respectively. Such derivative financial instruments are initially recognized at fair valua on the date on which a derivative contract Is entered into and are subsequently re-measured at fair value. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative.
13. Cash arid cash equivalents
Cash and cash Equivalents in the Balance sheet comprise cash at banks and on hand and short-term deposits with an original maturity of three or less month, which are subject to an insignificant risk of changes in value.
14. Cash Flow Statement
Cash flows are reported using the indirect method, where by profit before tax is adjusted for the effects of transactions of a non-cash 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 fiows from operating, investing and financing activities of the Company are segregated,
15. Earnings per share
a. Basic earnings per share ¦
Basic earnings per share is calculated by dividing the profit attributable to owners if the Company by the weighted average number of equity shares outstanding during the financial year, adjusted for bonus element in equity shares issued during the year, if any and Excluding treasury shares.
b. Diluted earnings per share
Diluted earnings per share adjusted the figures used in the determination of basic earnings per share to take into account the af^r-lgtiBESe^a^effed: of interest and other
financing costs associated with dilutive potential equity shares, and the weighted average number of additions] equity shares that would have been outstanding assuming the conversion of ail dilutive potential equity shares.
16, Events after reporting date
Where events occurring after the balance sheet date provide evidence of conditions that existed at the end of the reporting period, the impact of such events is adjusted within the financial statements. Otherwise, events after the balance sheet date of material size or nature are only disclosed,
IT, Investment In subsidiaries and associates
Investments in subsidiary and associate companies are carried at cost and fair value (deemed cost) as per Ind AS - 101 and 100 less accumulated impairment losses, if any. Where an indication of impairment exists, the carrying amount of the investment is assessed and written down to its recoverable amount. On disposal of investments in subsidiary companies, associate companies and joint venture companies, the difference between net disposal proceeds and the carrying amounts are recognized in the Statement of Profit and Loss, ,
When the company ceases to control the investment in subsidiary or associate the said investment is carried at fair value through profit and loss In accordance with Ind AS 109 "Financial instruments".
18* Recognition Of MPA
Non-Performing Assets (NPA), if any, is recognized as per the prudential norms of NBFC Rules and Regulations of Reserve Bank: of India,
Mar 31, 2015
1.01 BASIS OF ACCOUNTING
The accounts of the Company are prepared under the historical cost
convention and in Accordance with applicable accounting standards
except where otherwise stated. Accounting Policies not specifically
referred to are consistent with generally accepted accounting policies.
The Company follows the mercantile system of accounting and recognises
Income and Expenditure on accrual basis except otherwise specified.
1.02 REVENUE RECOGNITION
Expenses and income considered payable and receivable respectively have
been accounted for on accrual basis. Where the ability to assess the
ultimate collection with reasonable certainty is lacking at the time of
raising any claim, revenue recognition is postponed to the extent of
uncertainty involved.
1.03 FIXED ASSETS:
Fixed Assets are stated at cost of acquisition inclusive of freight,
duties, taxes and incidental expenses less depreciation.
1.04 DEPRECIATION
Depreciation on Tangible Assets has been provided on the straight-line
method over the useful lives as prescribed in schedule II ofthe
Companies Act, 2013 and on additions on Pro-rata basis.
1.05 INVESTMENTS
Long Term Investments are stated at cost.
1.06 STOCK-IN-TRADE:
Current Investments in the nature of stock in trade are valued at cost.
1.07 DECREASE IN VALUE OFINVESTMETS
Decreases in value of Current Investments in the nature of stock in
trade are provided at in aggregate for each category at difference
between cost and market value (if lower than cost), at the balance
sheet date. And decrease in value of unquoted Investments are
ascertained either from the latest balance sheet of the company, if
available or value shares at Rs 1/-, as the case maybe in accordance
with Reserve Bank of India guidelines.
1.08. GRATUITY & RETIREMENT BENEFITS
Retirement benefits, gratuity liability, medical reimbursement and
Leave Payments to employees shall be accounted as and when company
becomes statutory liable.
1.09 CONTINGENT LIABILITIES
Contingent liabilities are not provided and are disclosed by way of
notes to accounts.
Mar 31, 2014
1.01 BASIS OF ACCOUNTING
The accounts of the Company are prepared under the historical cost
convention and in Accordance with applicable accounting standards
except where otherwise stated. Accounting Policies not specifically
referred to are consistent with generally accepted accounting policies.
The Company follows the mercantile system of accounting and recognises
Income and Expenditure on accrual basis except otherwise specified.
1.02 REVENUE RECOGNITION
Expenses and income considered payable and receivable respectively have
been accounted for on accrual basis. Where the ability to assess the
ultimate collection with reasonable certainty is lacking at the time of
raising any claim, revenue recognition is postponed to the extent of
uncertainty involved.
1.03 FIXED ASSETS:
Fixed Assets are stated at cost of acquisition inclusive of freight,
duties, taxes and incidental expenses less depreciation.
1.04 DEPRECIATION
Depreciation on Fixed Assets has been provided on the straight-line
method at the rates prescribed in schedule XIV of the Companies Act,
1956 and on additions on Pro-rata basis.
1.05 INVESTMENTS
Long Term Investments are stated at cost.
1.06 STOCK ÂIN ÂTRADE:
Current Investments in the nature of stock in trade are valued at cost.
1.07 DECREASE IN VALUE OF INVESTMETS
Decreases in value of Current Investments in the nature of stock in
trade are provided at in aggregate for each category at difference
between cost and market value (if lower than cost), at the balance
sheet date. And decrease in value of unquoted Investments are
ascertained either from the latest balance sheet of the company, if
available or value shares at Rs. 1/-, as the case may be in accordance
with Reserve Bank of India guidelines.
1.08. GRATUITY & RETIREMENT BENEFITS
Retirement benefits, gratuity liability, medical reimbursement and
Leave Payments to employees shall be accounted as and when company
becomes statutory liable.
1.09 CONTINGENT LIABILITIES
Contingent liabilities are not provided and are disclosed by way of
notes to accounts.
Mar 31, 2013
1.01 BASIS OF ACCOUNTING
The accounts of the Company are prepared under the historical cost
convention and in Accordance with applicable accounting standards
except where otherwise stated. Accounting Policies not specifically
referred to are consistent with generally accepted accounting policies.
The Company follows the mercantile system of accounting and recognizes
Income and Expenditure on accrual basis except otherwise specified.
1.02 REVENUE RECOGNITION
Expenses and income considered payable and receivable respectively have
been accounted for on accrual basis. Where the ability to assess the
ultimate collection with reasonable certainty is lacking at the time of
raising any claim, revenue recognition is postponed to the extent of
uncertainty involved.
1.03 FIXED ASSETS:
Fixed Assets are stated at cost of acquisition inclusive of freight,
duties, taxes and incidental expenses less depreciation.
1.04 DEPRECIATION
Depreciation on fixed assets has been provided on the straight-line
method at the rates prescribed in schedule XIV of the Companies Act,
1956 and on additions on Pro-rata basis.
1.05 INVESTMENTS
Long Term Investments are stated at cost.
1.06 STOCK-IN-TRADE:
Current Investments in the nature of stock in trade are valued at cost.
1.07 DECREASE IN VALUE OF INVESTMETS
Decreases in value of Current Investments in the nature of stock in
trade are provided at in aggregate for each category at difference
between cost and market value (if lower than cost), at the balance
sheet date. And decrease in value of unquoted Investments are
ascertained either from the latest balance sheet of the company, if
available or value shares at Re. 1 /-, as the case may be in accordance
with Reserve Bank of India guidelines.
1.08. GRATUITY & RETIREMENT BENEFITS
Retirement benefits, gratuity liability, medical, reimbursement and
Leave Payments to employees shall be accounted as and when company
becomes statutory liable.
1.09 CONTINGENT LIABILITIES
Contingent liabilities are not provided and are disclosed by way of
notes to accounts.
Mar 31, 2012
1.01 BASIS OF ACCOUNTING
The accounts of the Company are prepared under the historical cost
convention and in Accordance with applicable accounting standards
except where otherwise stated. Accounting Policies not specifically
referred to are consistent with generally accepted accounting policies.
The Company follows the mercantile system of accounting and recognises
Income and Expenditure on accrual basis except otherwise specified.
1.02 REVENUE RECOGNITION
Expenses and income considered payable and receivable respectively have
been accounted for on accrual basis. Where the ability to assess the
ultimate collection with reasonable certainty is lacking at the time of
raising any claim, revenue recognition is postponed to the extent of
uncertainty involved.
1.03 FIXED ASSETS:
Fixed Assets are stated at cost of acquisition inclusive of freight,
duties, taxes and incidental expenses less depreciation.
1.04 DEPRECIATION
Depreciation on Fixed Assets has been provided on the straight-line
method at the rates prescribed in schedule XIV of the Companies Act,
1956 and on additions on Pro-rata basis.
1.05 INVESTMENTS
Long Term Investments are stated at cost.
1.06 STOCK-IN-TRADE:
Current Investments in the nature of stock in trade are valued at cost.
1.07 DECREASE IN VALUE OF INVESTMETS
Decreases in value of Current Investments in the nature of stock in
trade are provided at in aggregate for each category at difference
between cost and market value (if lower than cost), at the balance
sheet date. And decrease in value of unquoted Investments are
ascertained either from the latest balance sheet of the company, if
available or value shares at Re. 1 /-, as the case may be in accordance
with Reserve Bank of India guidelines.
1.08. GRATUITY & RETIREMENT BENEFITS
Retirement benefits, gratuity liability, medical reimbursement and
Leave Payments to employees shall be accounted as and when company
becomes statutory liable.
1.09 CONTINGENT LIABILITIES
Contingent liabilities are not provided and are disclosed by way of
notes to accounts.
Mar 31, 2010
1. BASIS OF ACCOUNTING
The accounts of the Company are prepared under the historical cost
convention and in Accordance with applicable accounting standards
except where otherwise stated. Accounting Policies not spe- cifically
referred to are consistent with generally accepted accounting policies.
The Company follows the mercantile system of accounting and recognises
Income and Expenditure on accrual basis except otherwise specified.
2. REVENUE RECOGNITION
Expenses and income considered payable and receivable respectively have
been accounted for on accrual basis. Where the ability to assess the
ultimate collection with reasonable certainty is lack- ing at the time
of raising any claim, revenue recognition is postponed to the extent of
uncertainty involved.
3. FIXED ASSETS:
Fixed Assets are stated at cost of acquisition inclusive of freight,
duties, taxes and incidental expenses less depreciation.
4. DEPRECIATION
Depreciation on Fixed Assets has been provided on the straight-line
method at the rates prescribed in schedule XIV of the Companies Act,
1956 and on additions on Pro-rata basis.
5. INVESTMENTS
Long Term Investments are stated at cost.
6. STOCK-IN-TRADE:
Current Investments in the nature of stock in trade are valued at cost.
7. DECREASE IN VALUE OF INVESTMETS
Decreases in value of Current Investments in the nature of stock in
trade are provided at in aggre- gate for each category at difference
between cost and market value (if lower than cost), at the balance
sheet date. And decrease in value of unquoted Investments are
ascertained either from the latest balance sheet of the company, if
available or value shares at Re. I/-, as the case may be in accordance
with Reserve Bank of India guidelines.
8. GRATUITY & RETIREMENT BENEFITS
Retirement benefits, gratuity liability, medical reimbursement and
Leave Payments to employees shall be accounted as and when company
becomes statutory liable.
9. CONTINGENT LIABILITIES
Contingent liabilities are not provided and are disclosed by way of
notes to accounts.
Mar 31, 2004
1. BASIS OF ACCOUNTING
The accounts of the Company are prepared under the historical cost
convention and in Accordance with applicable accounting standards
except where otherwise stated. Accounting Policies not specifically
referred to are consistent with generally accepted accounting policies.
The Company follows the mercantile system of accounting and recognises
Income and Expenditure on accrual basis except otherwise specified.
2. REVENUE RECOGNITION
Expenses and income considered payable and receivable respectively have
been accounted for on accrual basis. Where the ability to assess the
ultimate collection with reasonable certainty is lacking at the time of
raising any claim, revenue recognition is postponed to the extent of
uncertainty involved.
3. FIXED ASSETS:
Fixed Assets are stated at cost of acquisition inclusive of freight,
duties, taxes and incidental expenses less depreciation.
4. DEPRECIATION
Depreciation on Fixed Assets has been provided on the straight-line
method at the rates prescribed in schedule XIV of the Companies Act,
1956 and on additions on Pro-rata basis.
5. INVESTMENTS
Long Term Investments are stated at cost.
6. STOCK-IN-TRADE:
Current Investments in the nature of stock in trade are valued at cost.
7. DECREASE IN VALUE OF INVESTMETS
Decrease in value of Current Investments in the nature of stock in
trade are provided at in aggregate for each category at difference
between cost and market value (if lower than cost), at the balance
sheet date. And decrease in value of unquoted Investments are
ascertained either from the latest balance sheet of the company, if
available or value shares at Re. 1/-, as the case may be in accordance
with Reserve Bank of India guidelines.
8. MISCELLANEOUS EXPENDITURE
Preliminary expenses are written off in 10 equal installments in each
of accounting year.
9. GRATUITY & RETIREMENT BENEFITS
Retirement benefits, gratuity liability, medical reimbursement and
Leave Payments to employees shall be accounted as and when company
becomes statutory liable.
10. CONTINGENT LIABILITIES
Contingent liabilities are not provided and are disclosed by way of
notes to accounts.
Mar 31, 2003
1. BASIS OF ACCOUNTING
The accounts of the Company are prepared under the historical cost
convention and in Accordance with applicable accounting standards
except where otherwise stated. Accounting Policies not specifically
referred to are consistent with generally accepted accounting policies.
The Company follows the mercantile system of accounting and recognises
Income and Expenditure on accrual basis except otherwise specified.
2. REVENUE RECOGNITION
Expenses and income considered payable and receivable respectively have
been accounted for on accrual basis. Where the ability to assess the
ultimate collection with reasonable certainty is lacking at the time of
raising any claim, revenue recognition is postponed to the extent of
uncertainty involved.
3. FIXED ASSETS:
Fixed Assets are stated at cost of acquisition inclusive of freight,
duties, taxes and incidental expenses less depreciation.
4. DEPRECIATION
Depreciation on Fixed Assets has been provided on the straight-line
method at the rates prescribed in schedule XIV of the Companies Act,
1956 and on additions on Pro-rata basis.
5. INVESTMENTS
Long Term Investments are stated at cost.
6. STOCK-IN-TRADE:
Current Investments in the nature of stock in trade are valued at cost.
7. DECREASE IN VALUE OF INVESTMETS
Decrease in value Current Investments in the nature of stock in trade
are provided at in aggregate for each category at difference between
cost and market value (if lower than cost), at the balance sheet date.
And decrease in value of unquoted Investments are ascertained either
from the latest balance sheet of the company, if available or value
shares at Re. 1/-, as the case may be in accordance with Reserve Bank
of India guidelines.
8. MISCELLANEOUS EXPENDITURE
Preliminary expenses are written off in 10 equal installments in each
of accounting year.
9 GRATUITY & RETIREMENT BENEFITS
Retirement benefits, gratuity liability, medical reimbursement and
Leave Payments to employees shall be accounted as and when company
becomes statutory liable.
10. CONTINGENT LIABILITIES
Contingent liabilities are not provided and are disclosed by way of
notes to accounts.
Mar 31, 2002
1. BASIS OF ACCOUNTING
The accounts of the Company are prepared under the historical cost
convention and in Accordance with applicable accounting standards
except where otherwise stated. Accounting Policies not specifically
referred to are consistent with generally accepted accounting policies
The Company follows the mercantile system of accounting and recognises
Income and Expenditure on accrual basis except otherwise specified.
2. REVENUE RECOGNITION
Expenses and income considered payable and receivable respectively have
been accounted for on accrual basis. Where the ability to assess the
ultimate collection with reasonable certainty is lacking at the time of
raising any claim, revenue recognition is postponed to the extent of
uncertainty involved.
3. FIXED ASSETS:
Fixed Assets are stated at cost of acquisition inclusive of freight,
duties, taxes and incidental expenses less depreciation.
4. DEPRECIATION
Depreciation on Fixed Assets has been provided on the straight-line
method at the rates prescribed in schedule XIV of the Companies Act,
1956 and on additions on Pro-rata basis.
5. INVESTMENTS
Long Term Investments are stated at cost.
6. STOCK-IN-TRADE :
Current Investments in the nature of stock in trade are valued at cost.
7. DECREASE IN VALUE OF INVESTMETS
Decrease in value Current Investments in the nature of stock in trade
are provided at in aggregate for each category at difference between
cost and market value (if lower than cost) , at the balance sheet date
and decrease in value of unquoted Investments are ascertained either
from the latest balance sheet of the company, if available or value
shares at Re. 1/-, as the case may be in accordance with Reserve Bank
of India guidelines.
8. MISCELLANEOUS EXPENDITURE
Preliminary expenses are written off in 10 equal installments in each
of accounting year.
9. GRATUITY & RETIREMENT BENEFITS
Retirement benefits, gratuity liability, medical reimbursement and
Leave Payments to employees shall be accounted as and when company
become statutory liable.
10. CONTINGENT LIABILITIES
Contingent liabilities are not provided and are disclosed by way of
notes to accounts.
Mar 31, 2001
1. BASIS OF ACCOUNTING
The accounts of the Company are prepared under the historical cost
convention and in Accordance with applicable accounting standards
except where otherwise stated. Accounting Policies not specifically
referred to are consistent with generally accepted accounting policies.
The Company follows the mercantile system of accounting and recognizes
Income and Expenditure on accrual basis except otherwise specified.
2. REVENUE RECOGNITION
Expenses and income considered payable and receivable respectively have
been accounted for on accrual basis. Where the ability to assess the
ultimate collection with reasonable certainty is lacking at the time of
raising any claim, revenue recognition is postponed to the extent of
uncertainty involved.
3. FIXED ASSETS:
Fixed Assets are stated at cost of acquisition inclusive of freight,
duties, taxes and incidental expenses less depreciation.
4. DEPRECIATION
Depreciation on Fixed Assets has been provided on the straight-line
method at the rates prescribed in schedule XIV of the Companies Act,
1956 and on additions on Pro-rata basis.
5. INVESTMENTS
Long Term Investments are stated at cost.
6. STOCK-IN-TRADE :
Current Investments in the nature of stock in trade are valued at cost
less Provisions for diminution in value, if any .
7. DECREASE IN VALUE OF CURRENT INVESTMENTS
Decrease in value Current Investments in the nature of stock in trade
are provided at in aggregate for each category at difference between
cost and market value (if lower than cost) , at the balance sheet date,
and decrease in value of unquoted Investments are ascertained either
from the latest balance sheet of the company, if available or value
shares at Re. 1/- , as the case may be in accordance with Reserve Bank
of India guidelines.
8. MISCELLANEOUS EXPENDITURE
Preliminary expenses are written off in 10 equal installments in each
of accounting year.
9. GRATUITY & RETIREMENT BENEFITS
Retirement benefits, gratuity liability, medical reimbursement and
Leave Payments to employees shall be accounted as and when company
become statutory liable.
10. CONTINGENT LIABILITIES
Contingent liabilities are not provided and are disclosed by way of
notes to accounts.
Mar 31, 2000
1. BASIS OF ACCOUNTING
The accounts of the Company are prepared under the historical cost
convention and in According with applicable accounting standards except
where otherwise stated Accounting Policies not specifically refereed to
are consistent with generally accepted accounting policies. The
Company follows the mercantile system of accounting and recognises
Income and Expenditure on accrual basis except otherwise specified.
2. REVENUE RECOGNITION Expenses and income considered payable and
receivable respectievely have been accounted for on accrual basis.
Where the ability to assess the animate col1ection with reasonable
certainty is lacking at the time of raising any claim, revenue
recognition is postponed to the extent of uncertainty involved.
3. FIXED ASSETS : Fixed Assets are stated at cost of acquisition
inclusive of freight, duties, taxes and incidental expenses less
depreciation.
4. DEPRECIATION Depreciation on Fixed Assets has been provided on the
straight-line method at the rates prescribed in schedule XIV of the
Companies Act, 1956 and on additions on Pro-rata basis.
5. INVESTMENTS Investments ( Long Term, other and current investments)
are stated at cost less provisions for diminution in value, if any and
are held as "Stock in Trade".
6. PROVISION FOR DIMUNATION IN VALUE OF INVESTMENTS Provision for
diminuation in value of Long Term-Quoted Investments and Current
Investments are provided at in aggregate for each category at
difference between cost and market value (if lower than cost), at the
balance sheet date, and Provision for deminuation in value Other
unquoted Investments are ascertained either from the latest balance
sheet of the company, if available or value shres at Re. 1/- per stare
, as the case may be in accordance with Reserve Bank of India
guidelines.
7. MISCELLANEOUS EXPENDITURE
Preliminary expenses are written off in 10 equal installments in each
of accounting yew.
8. GRATUITY & RETIREMENT BENEFITS
Retirement benefits, gratuity liability, medical reimbursement and
Leave Payments to employees are accounted for on cash basis.
9. CONTINGENT LIABILITIES
Contingent liabilities are not provided and are disclosed by way of
notes to accounts.
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Available Finance Ltd. पर और जानकारी
-
Available Finance Ltd. टूल
- बल्क डील
-
Available Finance Ltd. कंपनी का विवरण
- कंपनी का प्रोफाइल
- कंपनी का इतिहास
- मैनेजमेंट टीम
- पूंजी ढांचा
- प्रॉडक्ट मिक्स
- बैंकर/ऑडीटर/रजिस्ट्रार
-
कंपनी का इतिहास
- बीएसई मूल्य इतिहास
-
Available Finance Ltd. मुख्य वित्तीय अनुपात
- अनुपात
-
Available Finance Ltd. परिणाम
- तिमाही परिणाम
- छहमाही परिणाम
- नौ महीने के परिणम
- वार्षिक परिणाम
-
Available Finance Ltd. Financial Data
- ऑडिट के परिणाम
- नकदी प्रवाह
- बैलेंस शीट
-
Available Finance Ltd. की रिपोर्ट
- लेखा नीति
- ऑडीटर की रिपोर्ट
- निदेशक की रिपोर्ट
- खाते के लिये नोट
-
Available Finance Ltd. कॉर्पोरेट घोषणाएं
- बुक क्लोज़र
- लाभांश
- बोर्ड की मीटिंग
- नाम में परिवर्तन
-
Stock Market Crash: जंग का असर बाजार में हाहाकार, सेंसेक्स 2500 अंक से ज्यादा लुढ़का, निफ्टी 700 अंक क्रैश -
Stock Market Outlook: होर्मुज स्ट्रेट में संकट! क्या आने वाला है भारतीय शेयर बाजार में बड़ा गिरावट का दौर? -
मिडिल ईस्ट के बढ़ते तनाव ने बिगाड़ा बाजार का मूड, सेंसेक्स 1500 अंक लुढ़का, निफ्टी भी बुरी तरह फिसला -
Stock Market Today: मिडिल ईस्ट तनाव! शेयर बाजार में कोहराम, सेंसेक्स 900+ अंक टूटा, निफ्टी 24,900 के नीचे -
Stock Market: Anthropic के दावे से बढ़ी टेंशन! Nifty-Sensex में बड़ी गिरावट, शेयर बाजार किन 5 कारणों से धड़ाम? -
Stock Markets Today: कारोबारी हफ्ते की शानदार शुरुआत, Sensex और Nifty 50 जबरदस्त बढ़त के साथ बंद -
Stock Alert: सस्ते में मिल रहे Nifty 50 के कई शेयर, यहां से होगी पैसों की बारिश? -
Stock Market Crash: बाजार में हाहाकार, सेंसेक्स 1,200 प्वाइंट से ज्यादा गिरा, निफ्टी भी 400 अंक क्रैश -
Stock Markets Today: बढ़त के साथ बंद हुआ बाजार, Sensex और Nifty की शानदार क्लोजिंग -
Stock Markets Today: Nifty वीकली एक्सपायरी के दिन बाजार में तेजी, IT और PSU इंडेक्स बढ़त के साथ बंद -
Defence Stock: Cochin Shipyard के शेयर में जबरदस्त उछाल, रक्षा मंत्रालय से बड़ा ऑर्डर -
Stock Markets Today: कारोबारी हफ्ते के पहले दिन बाजार की शानदार क्लोजिंग, Sensex और Nifty बढ़त के साथ बंद -
अमेरिका संग ट्रेड डील से SENSEX-NIFTY में दिखा जोश, इन 9 स्टॉक्स में लगा 20% का अपर सर्किट, आपके पास है कोई? -
Stock Market News: India-US ट्रेड डील का असर...शेयर बाजार में जबरदस्त रैली, निवेशकों को 20 लाख करोड़ का फायदा! -
Stock Market News: भारी गिरावट के बाद वापसी, सेंसेक्स-निफ्टी दिन के निचले स्तर से रिकवर, तेजी के पीछे का कारण? -
Stock Market: मोदी सरकार के 15 बजट में कब शेयर बाजार का प्रदर्शन रहा सबसे बेहतर; कब रहा सबसे खराब? फुल रिपोर्ट
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