Befound Movement Ltd. कंपली की लेखा नीति

Mar 31, 2025

1 Significant Accounting Policies

1.1 Basis of preparation of financial statements

The financial statements are prepared on going concern basis in accordance with Generally Accepted Accounting Principles in India (GAAP) and comply in all material respects with the Accounting Standards specified under section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014, and Companies (Accounting Standards) Amendment Rules, 2016 and the relevant provisions of the Companies Act, 2013.

1.2 Historical Cost Convention

The financial statements have been prepared on an accrual basis and under the historical cost convention. The accounting policies adopted in the preparation of financial statements are consistent with those of previous year.

1.3 Use of estimates

The preparation of financial statements requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities as at the date of the financial statements and the reported amount of revenue and expenses for the year. Actual results could differ from these estimates. Any revision to such accounting estimates is recognized prospectively in current and future periods.

1.4 Property, plant and equipment

All items of PPE are stated at cost less depreciation and impairment, if any. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Cost includes its purchase price including non-refundable taxes and duties, directly attributable costs of bringing the asset to its present location and condition and initial estimate of costs of dismantling and removing the item and restoring the site on which it is located.

Subsequent costs are included in the carrying amount of PPE or recognised as a separate PPE, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of any component accounted for as a separate asset is derecognised when replaced. All other repairs and maintenance are charged to the Statement of Profit and Loss during the reporting period in which they are incurred.

1.5 Depreciation

The Company depreciates its PPE over the useful life in the manner prescribed under Part C of Schedule II to the Act. Depreciation commences when the assets are ready for their intended use and is computed on pro-rata basis from the date of installation/ acquisition till the date of sale/ disposal. Management believes that useful life of assets are same as those prescribed in Schedule II to the Act.

1.6 Inventories

Inventories are valued at lower of cost or estimated net realisable value. As on 31st March Company does not have any inventory in its books.

1.7 Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured, regardless of when the payment is being made. Revenue is measured at the fair value of the consideration received or receivable net of discounts, returns and rebates taking into account contractually defined terms and excluding taxes or duties collected on behalf of the government.

a) Sales are recognised when substantial risk and rewards of ownership are transferred to customer as per the terms of contract. No revenue is recognised if there are significant uncertainties regarding recovery of the amount due, associated costs or the possible return of goods

b) Interest income is accrued on a time proportion basis, by reference to the principal outstanding and the applicable effective interest rate.

c) Dividend income from investments is recognised when the shareholder''s rights to receive payment have been established.

1.8 Investments

a) Company does not have any long term investment as on 31st March 2025.

b) Current investments are stated at lower of cost and fair market value determined on an individual investment basis. Long-term investments are stated at cost less provision for diminution other than temporary in the value of such investments.

1.9 Borrowing costs

Borrowing costs are interest and other costs that the Company incurs in connection with the borrowing of funds and is measured with reference to the effective interest rate applicable to the respective borrowing.

1.10 Employee benefits

Company does not provide any Employee benefit provision in financials as company does not cross the required limit of no of Employees.

1.11 Accounting for taxes on income

a) Current tax is determined as the amount of tax payable in respect of taxable income for the year as per the provisions of the Income Tax Act, 1961.

b) Deferred tax is recognized, subject to consideration of prudence, on timing difference, being the difference between taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent periods and measured using relevant enacted tax rates.

1.12 Operating lease A. Where Co is lessee

Lease of assets under which all the risk and rewards of ownership are effectively retained by the lessor are classified as operating leases. Lease payments under operating leases are recognized as an expense on accrual basis in accordance with the respective lease agreements.

B. Where Co is lessor

Leases in which the Company does not transfer substantially all the risks and rewards of ownership of an asset are classified as operating leases. Rental income from operating lease is recognised on a straight line basis over the term of the relevant lease.

1.13 Foreign currency transactions

Transactions in foreign currencies are recognised at the prevailing exchange rates on the transaction dates. Realised gains and losses on settlement of foreign currency transactions are recognised in the Statement of Profit and Loss.

Monetary foreign currency assets and liabilities at the year-end are translated at the year-end exchange rates and the resultant exchange differences are recognised in the Statement of Profit and Loss.

1.14 Earnings per share

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. The weighted average number of equity shares outstanding during the year is adjusted for the events for bonus issue, bonus element in a rights issue to existing shareholders, share split and reverse share split (consolidation of shares). 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 off 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.

1.15 Provisions

A provision is recognised when the Company has a present obligation (legal or constructive) 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. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

1.16 Contingent Liabilities and Contingent Assets

A contingent liability is a possible obligation that arises 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 recognised because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases, where there is a liability that cannot be recognised because it cannot be measured reliably. The Company does not recognize a contingent liability but discloses its existence in the financial statements unless the probability of outflow of resources is remote.

1.17 Impairment of property, plant and equipment

At each balance sheet date, the Company reviews the carrying amount of assets to determine whether there is an indication that those assets have suffered impairment loss. If any such indication exists, the recoverable amount of assets is estimated in order to determine the extent of impairment loss. The recoverable amount is higher of the net selling price and value in use, determined by discounting the estimated future cash flows expected from the continuing use of the asset to their present value.

1.18 Current and Non-current Classification

All assets and liabilities have been classified as current and non-current as per the Company''s normal operating cycle (Twelve months) and other criteria set out in Schedule III to the Act.

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Mar 31, 2024

¹ Significant Accounting Policies

1.1 Basis of preparation of financial statements

The financial statements are prepared on going concern basis in accordance with Generally Accepted Accounting Principles in India (GAAP) and comply in all matenal
^A“°unting Standards specified under section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules 2014 and
Companies (Accounting Standards) Amendment Rules, 2016 and the relevant provisions of the Companies Act, 2013.

1.2 Historical Cost Convention

1.3 Use of estimates

^draur^^Mnttngent''llabllibM^T^Tth^dat^nf''th^ ™^ana9^eman'' ^{to make} estimates and assumptions that affect the reported amounts of assets and liabilities
from these estimates Anv reukinn t _h ^{da 6} °^{fthe financia} statements and the reported amount of revenue and expenses for the year. Actual results could differ
from these estimates. Any revision to such accounting estimates is recognized prospectively in current and future periods

1.4 Property, plant and equipment

1.5 Depreciation

ready for their intended^ LTcomputed on p^drata''b^fs''from''^^^Jtal^^utei^tin''ft d''t ^ f ^Af °^{eprecia,ion commen}ces when the assets are
of assets are same as those prescribed in Schedule II to the Act. ^ acquisition till the date of sale/ disposal. Management believes that useful life

1.6 Inventories

Inventories are valued at lower of cost or estimated net realisable value. As on 31s. March Company does no. have any inventory in its books

1.7 Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Comnanv

when the payment is being made. Revenue is measured at the fair value of the consideration received^ ^evfⁿ“® ^{can be rellab|}y measured, regardless of

account contractually defined terms and excluding taxes or duties collected on behalf of the government ^{b 6} °^{f dlscounts}'' ^{retums and} abates taking into

a) Sales are recognised when substantial risk and rewards of ownership are transferred tn rnstnm^r « „„ .

significant uncertainties regarding recovery of the amount due, associated costs or the possible return of g^d^ k""* °^{f C}°^{ntracL No revenue is} ^cognised if there are

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a) Company does not have any long term investment as on 31st March 2024.

pLis^r to dfmS oZr to tem''^ry1n“ e vaTuJ of'' sTc^s''^nf °" ^ ^indiVidUa''^{investment tesis}- Long-term investments are stated at cos. less

1.9 Borrowing costs

^tor-»“™— - - ¦“»«**.«»— -

1.10 Employee beneflU

(II) Post-employment Obligations
(I) Short-term Obligations

1.11 Accounting fortaxes on Income

1.12 Operating lease "

A.Where Co Is lessee - — <•

. ¦ *

Lease of assets under which all the risk and rewards of ownership are effectively retained hv the , .

operating leases are recognized as an expense on accrual basis in accorda^eni:mh“^e^s^ee^Sr_g^Ll^SSffied " ^{163568 Le3Se paymen,s und}-

B.Where Co Is lessor

Leases in which the Company does not transfer substantially all the risks and reward. nf u .

operating lease is recognised on a straight line basis over the term of the relevant lease ^h''^P °^{f an asset are} dassified as operating leases. Rental income from

1.13 Foreign currency transactions

transactions are recognised in the St^t^moTprofit anrLos^as^{in9 eXCha}"^{9e rates on ,he transactlon dates}- Realised gains and losses on settlement of foreign currency
the Statement of Profit an^ Loss^ ^ ^llab"^{itieS 3t the y6ar}''^{end are transla,ed at ,he} year-end exchange rates and the resultant exchange differences are recognised in

1.14 Earnings per share

^eTcJde³"⁶^"^ °^tanding during thTje^Ts''^u^^torlhreVT''?⁶ °* ^ ***''** ^0UtStandi"^{9 durin}9 *e year. The

.viden

-iCS ^{deriVin9 eamin9S} - — - - weigh,inversion Tf^aN

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Mar 31, 2015

(a) BASIS OF PRESENTATION OF FINANCIAL STATEMENTS:

The financial statements are prepared in accordance with generally accepted accounting principles in India under the historical cost convention and on accrual basis of accounting. These financial statement have been prepared to comply in all material aspects with the mandatory and applicable Accounting Standards as prescribed by the Companies (Accounting Standards) Rules, 2006, as amended and relevant provisions of the Companies Act, 2013(to the extent notified).

All assets and liabilities have been classified as current or non current as per the Company's normal operating cycle and other criteria set out in the Revised Schedule III to the Companies Act, 2013. Based on the nature of products and the time between the acquisition of assets for processing and their realization in cash and cash equivalents, the company has ascertained its operating cycle as twelve months for the purpose of current non-current classification of assets and liabilities.

(b) USE OF ESTIMATES :

The presentation of Financial Statements requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of financial statements and the reported amount of revenue and expenses during the reporting period. Difference between the actual results and estimates are recognized in the period in which results are known/materialized.

(c) REVENUE RECOGNITION :

The company recognizes sale of products when they are invoiced to customers. Revenue in respect of other income is recognized when no significant uncertainty as to its determination or realization exists.

(d) FIXED ASSETS :

Fixed assets are stated at cost less accumulated depreciation. Cost for this purpose includes purchase price, non refundable taxes or levies and other directly attributable costs of bringing the assets to its working condition for its intended use.

(e) DEPRECIATION :

Depreciation is provided on Straight Line method at the rates specified II to the Companies Act, 2013. Depreciation is provided for on a pro-rata basis on the assets acquired, sold or disposed off during the year.

(F) TAXES ON INCOME :

(i) Current tax is determined as the amount of tax payable in respect of taxable income for the year.

(ii) Deferred tax is provided on all timing differences which are recognized during the period. Deferred Tax Asset is recognized only if there is a reasonable certainty on the realisability of the assets.

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Mar 31, 2014

A. Revenue Recognition

(i) Revenue from issue management services, loan syndication, financial advisory services etc., is recognised based on the stage of completion of assignements and terms of agreement with the client.

(ii) Gains and losses on dealing with securities & derivates are recognised on trade date.

b. Stock - in - trade (i.e. Inventories)

(i) The seciurities acquired with the intention of holding for short-term are classified as investment and securities acquired for trading are classified as stock-in-trade.

(ii) The securities held as stock in trade are valued at lower of cost arrived at on weighted average basis or market /fair value, computed category-wise. In case of investments transferred to stock-in-trade, carrying amount on the date of transfer is considered as cost. Commission earned om respect of securities acquired upon devolvement is reduced from the cost of acquisition. Fair value of unquoted shares is taken at break-up value of shares as per the latest audited Balance Sheet of the concerned company. In case of debt instruments, fair value is worked out on the basis of yield to maturity rate selected considering quotes where available and credit profile of the issuer and market related spreads over the government securities.

c. Investments

(i) The securities acquired with the intention of holding till maturity or for a longer period are classifed as investments.

(ii) Investments are carried at cost arrived at on weighted average basis. Commissions earned in respect of securities acquired upon development are reduced from the cost of acquisition. Appropriate provision is made for other than temporary diminution in the value of investments.

d. Fixed Assets and Depreciation

(i) Fixed Assets are stated at historical cost less accumulated depreciation and inpairment loss, if any, Cost comprises the purchase price and any attributable cost of bringing the assets to its working condition for intended use.

(ii) Depreciation on fixed assets is provided on Written Down Method at the rate and in the manner prescribed in Schedule XIV of the Companies Act, 1956

e. Taxation

Tax expenses comprises both current and deffered taxes. Current Income Tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. Deferred Income Tax reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. Deffered tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the Balance Sheet date. Deferred tax assets are recognised only to the extent that there is reasonable certainity that sufficient future taxable income will be available against which such deferred tax assets can be realised. Unrecognised deferred tax assets of the earlier years and re-assessed and recognised to the extent that it has become reasonably certain that future taxable income will be available against which such deferred tax assets can be realised.

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Mar 31, 2013

A. Revenue Recognition

(i) Revenue from issue management services, loan syndication, financial advisory services etc., is recognised based on the stage of completion of assignements and terms of agreement with the client.

(ii) Gains and losses on dealing with securities & derivates are recognised on trade date.

b. Stock - in - trade (i.e. Inventories)

(i) The seciurities acquired with the intention of holding for short-term are classified as investment and securities acquired for trading are classified as stock-in-trade.

(ii) The securities held as stock in trade are valued at lower of cost arrived at on weighted average basis or market / fair value, computed category-wise. In case of investments transferred to stock-in-trade, carrying amount on the date of transfer is considered as cost. Commission earned om respect of securities acquired upon development is reduced from the cost of acquisition. Fair value of unquoted shares is taken at break-up value of shares as per the latest audited Balance Sheet of the concerned company. In case of debt instruments, fair value is worked out on the basis of yield to maturity rate selected considering quotes where available and credit profile of the issuer and market related spreads over the government securities.

c. Investments

(i) The securities acquired with the intention of holding till maturity or for a longer period are classified as investments.

(ii) Investments are carried at cost arrived at on weighted average basis. Commissions earned in respect of securities acquired upon development are reduced from the cost of acquisition. Appropriate provision is made for other than temporary diminution in the value of investments.

d. Fixed Assets and Depreciation

(i) Fixed Assets are stated at historical cost less accumulated depreciation and impairment loss, if any, Cost comprises the purchase price and any attributable cost of bringing the assets to its working condition for intended use.

(ii) Depreciation on fixed assets is provided on Written Down Method at the rate and in the manner prescribed in Schedule XIV of the Companies Act, 1956

e. Taxation

Tax expenses comprises both current and deffered taxes. Current Income Tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. Deferred Income Tax reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. Deffered tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the Balance Sheet date. Deferred tax assets are recognised only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. Unrecognised deferred tax assets of the earlier years and re-assessed and recognised to the extent that it has become reasonably certain that future taxable income will be available against which such deferred tax assets can be realised.

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Mar 31, 2012

A. Revenue Recognition

(i) Revenue from issue management services, loan syndication, financial advisory services etc., is recognised based on the stage of completion of assienements and terms of agreement with the client.

(ii) Gains and losses on dealing with securities & derivates are recognized on trade date.

b. Stock - in - trade (i.e. Inventories)

(i) The securities acquired with the intention of holding for short-term are classified as investment and securities acquired for trading are classified as stock-in-trade.

(ii) The securities held as stock in trade are valued at lower of cost arrived at on weighted average basis or market / fair value, computed category-wise. In case of investments transferred to stock-in-trade, carrying amount on the date of transfer is considered as cost. Commission earned on respect of securities acquired upon devolvement is reduced from the cost of acquisition. Fair value of unquoted shares is taken at break-up value of shares as per the latest audited Balance Sheet of the concerned company. In case of debt instruments, fair value is worked out on the basis of yield to maturity rate selected considering quotes where available and credit profile of the issuer and market related spreads over the government securities.

c. Investments

(i) The securities acquired with the intention of holding till maturity or for a longer period are classified as investments.

(ii) Investments are carried at cost arrived at on weighted average basis. Commissions earned in respect of securities acquired upon development are reduced from the cost of acquisition. Appropriate provision is made for other than temporary diminution in the value of investments.

d. Fixed Assets and Depreciation

(i) Fixed Assets are stated at historical cost less accumulated depreciation and impairment loss, if any, Cost comprises the purchase price and any attributable cost of bringing the assets to its working condition for intended use.

(ii) Depreciation on fixed assets is provided on Written Down Method at the rate and in the manner prescribed in Schedule XIV of the Companies Act, 1956

e. Taxation

Tax expenses comprises both current and differed taxes. Current Income Tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. Deferred Income Tax reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. Differed tax is measured based on the tax rates and the tax laws enacted or

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Mar 31, 2010

(1) Revenue Recognition

(a) Revenue from issue management services, loan syndication, financial advisory services etc., is recognized based on the stage of completion of assignments and terms of agreement with the client.

(b) Gains and losses on dealing with securities & derivatives are recognized on trade date.

(ii) Stock-in-trade (i.e. Inventories)

(a) The securities acquired with the intention of holding for short-term are classified as investment and securities acquired for trading are classified as stock-in-trade.

(b) The securities held as stock-in-trade are valued at lower of cost arrived at on weighted average basis or market/ fair value, computed category-wise. In case of investments transferred to stock-in-trade, carrying - amount on the date of transfer is considered as cost. Commission earned in respect of securities acquired upon devolvement is reduced from the cost of acquisition. Fair value of unquoted shares is taken at break-up value of shares as per the latest audited Balance Sheet of the concerned company. In case of debt instruments, fair value is worked out on the basis of yield to maturity rate selected considering quotes where available and credit profile of the issuer and market related spreads over the government securities

(c) Discounted instruments like Commercial paper/treasury bills/zero coupon instruments are valued at carrying cost. The difference between the acquisition cost and the redemption value of discounted instruments is apportioned on a straight line basis for the period of holding arid recognized as Interest income.

(d) Units of mutual fund are valued at lower of cost and net asset value.

(iii) Investments

The securities acquired with the intention of holding till maturity or for a longer period are classified as investments, (b) Investments are carried at cost arrived at on weighted average basis. Commissions earned in respect of securities acquired upon devolvement are reduced from the cost of acquisition. Appropriate provision is made for other than temporary diminution in the value of investments.

(iv) Fixed Assets and Depreciation

(a) Fixed assets are stated at historical cost less accumulated depreciation and impairment loss, if any. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for intended use.

(b) Depreciation on fixed assets is provided on Written Down Method at the rate and in the manner prescribed in Schedule XIV of the Companies Act, 1956.

(v) Deferred Tut

Tax expense comprises both current and deferred taxes. Current income-tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. Deferred income tax reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the Balance Sheet date. Deferred tax assets are recognised only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. Unrecognised deferred tax assets of earlier years are re-assessed and recognised to the extent that it has become reasonably certain that future taxable income will be available against which such deferred tax assets can be realised.

(vi) Derivatives Transactions

(a) All open positions are marked to market.

(b) Gains are recognized only on settlement/expiry of the derivative instruments except for Interest Rate derivatives where even mark to-market gains are recognized.

(c) Receivables/payables on open position are disclosed as current assets/current liabilities, as the case may be.

(vii) Earning Per Share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting attributable taxes) by the weighted average number of equity shares outstanding during the period.

(viii) Compliance with Reserve Bank of India Prudential Norms

Income recognition, provisioning and assets classification are in accordance with norms prescribed by Reserve Bank of India from time to time.

Schedule to the Balance Sheet of a Non-deposit taking Non-Banking Financial Company as required in terms of Paragraph 13 of Non-Banking Financial (Non-Deposit Accepting or HoldingJCompanies. Prudential Norms (Reserve Bank) Directions 2007 :

a) Disclosure in respect of related party transaction :

(i) Borrower wise : Nil

(ii) Investor wise : Nil

b) Position of non-performing assets and business levels is lease and hire purchase and other activities:

(i) Equipment leasing : Nil

(ii) Hire Purchase Finance, Loan, Investment : Nil

c) Disclosure in respect of related parties pursuant to Accounting Standard 18:

a) List of related parties : NIL

b) List of Associates : NIL

c) During the year, no transaction was carried out with the related parties in the ordinary course of the business.

Other information :

a) Gross Non-performing assets with related parties : NIL

b) Gross Non-performing assets with other than related parties : NIL

c) Net Non-performing assets with related parties : NIL

d) Net Non-performing assets with other than related parties : NIL

e) Assets acquired in satisfaction of debt : NIL

Special Reserve

Consequent to the Reserve Bank of India (Amendment) Act, 1997 coming into force effective January 9, 1997 where in all Non-banking Companies are required to transfer a sum not less than 20 % of its .net profit after Tax to a special reserve wherever the net profit is adequately available, the company has duly complied with the RBI norms in this regards.