Boss Packaging Solutions Ltd कंपली की लेखा नीति

Mar 31, 2025

2 Significant Accounting Policies

2.1 Accounting assumptions

The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP) to
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 the relevant provisions of the Companies Act, 2013. These financial statements are prepared on an accrual basis
and under the historical cost convention except financial instruments which have been measured at fair value. The accounting policies are consistently
applied by the Company during the year and are consistent with those used in previous year.

2.2 Use of estimates

The presentation of financial statements in conformity with the generally accepted accounting principles requires estimates and assumptions to be made
by the management that may affect the reported amount of assets and liability as at the date of financial statement and the reported amount of revenue
and expenses during the reporting period. Although this estimates are based upon management’s best knowledge of current events and actions, actual
results could differ from those estimated.

2.3 Property, plant and equipment

Fixes Assets are stated at cost less accumulated depreciation and impairment losses, if any. Cost comprises the purchase price and any other attributable
cost for bringing the assets to its working condition for its intended use. Financing cost relating to acquisition of qualifying fixed assets are also
included to the extend they relate to the period till such assets are ready to put to use. Capital work in progress comprises of the cost of the fixed assets
that are not yet ready for their intended use as at the Balance sheet date. Intangible assets are recorded at the consideration paid for their acquisition.
Cost of any internally generated assets comprise all expenditure that can be directly attributed or allocated on a reasonable and consistent basis, to
creating, producing and making the assets ready for its intended use.

2.4 Depreciation / amortisation

Depreciation has been provided on WDV basis at the rate specified under Schedule II of the Companies Act, 2013. Depreciation is provided on a
proportionate basis on any addition made during the year.

2.5 Impairment of assets

Fixed assets are review for impairment whenever events or changes in circumstances indicate that the carrying amount of asset may not be recoverable.
Whenever the carrying amount of the assets exceeds its recoverable amount, an impairment loss is recognized in the income statement for its items of
fixed assets carried at cost. The recoverable amount is the higher of asset’s net selling price and value in used. The net selling price is the amount
obtained from the sale of assets in the arm’s length transaction while value in use is the present value of estimate future cash flows expected to arise
from the continuing use of an assets from its disposal at the end of its useful life.

Recoverable amount are estimated for individual assets or, if not possible, for the cash generating unit. Impairment loss recognized for an asset in earlier
accounting period is reversed to the extent for tits recoverable amount, if there has been a change in the estimate use to determine the assets recoverable
amount since the last impairment loss was recognized.

2.6 Revenue recognition

a. Sale of products is recognized when the sufficient risks and rewards of ownership of the goods have passed to the buyer.

b. Revenue from services is recognized as the related services are performed. Where the ability to assess the ultimate collection with reasonable certainty
is lacking at the time of rising any claim, revenue recognition is postponed to the extent of uncertainty involved. In such cases revenue recognized
only when it is reasonably certain that ultimate collection will be made.

c. Interest income is recognized on a time proportional basis taking into account the amount outstanding and the rate applicable

d. Dividend income from investment is recognized when the amount is received.

2.7 Inventories

Inventories are valued at lower of cost or net realizable value on FIFO basis. (Batch wise).

2.8 Purchase and expenses

Purchases are shown exclusive of taxes /duties wherever input tax credit is taken and net of Trade Discounts availed from suppliers and purchase return.
Major items of the expenses are accounted on time / pro-rata basis and necessary provisions for the same are made.

2.9 Employee benefits

a) Short term employee benefit

All employee benefit payable wholly within twelve months of rendering the services are classified as short term employee benefits. Benefits such as
Salary, wages and short term compensated absences etc. and the expected cost of bonus, ex-gratia are recognized in the period in which the employee
renders the related service.

b) Post employment benefit

i. Defined Contribution plans: The Company’s provident fund scheme is defined contribution plans. The contribution paid or payable under the
schemes recognized during the period in which employee renders the related service.

ii. No Provisions is made for gratuity and other post-employment benefits since, as explained the amount cannot be quantified with reasonable
certainty.

2.10 Foreign currency transactions

I. Transactions denominated in foreign currencies are normally recorded at the exchange rate prevailing on the date of the transaction or that
approximates the actual rate at the date of transaction.

II. Monetary items denominated in foreign currencies at the period/year-end are restated at period/year-end rates.

III. Any income or expenses on account of exchange difference either on settlement or on translation is recognized in the Statement of Profit and Loss.

IV. Premium or discount on forward contracts for hedging foreign currency transactions are amortized and recognized in the statement of profit and loss
over the period of the contract.

2.11 Borrowing cost

Borrowing cost that are attributable to the acquisition and construction of a qualifying asset are capitalized as a part of the cost of the assets.
Other borrowing cost are recognized as an expenses in the year in which they are incurred.

2.12 Earnings per share

Basic earnings per share are calculated by dividing the net profit for the period attributable to equity shareholders by the weighted average numbers
of equity share outstanding during the period.

2.13 Taxes on income

i. Tax on income for the current period s determined on the basis of taxable income and tax credit computed in accordance with provision of the
Income Tax Act, 1961, and based on expected outcome of assessment/appeals.

ii. Deferred Tax is recognized on timing differences between accounting income and the taxable income for the year and quantified using the tax rates
and laws enacted or substantially enacted as on the Balance sheet date. Timing differences that get Originate in tax holiday period and get reversed
during tax holiday period are ignored. Timing differences arising on the account of gratuity and leave encashment are assumed to be paid only after
tax holiday period.

iii. Deferred tax assets are recognized and carried forward to the extend the there is a reasonable certainty that sufficient future taxable income will be
available against which such deferred tax assets can be realized. Deferred tax assets are recognized on carry forward on unabsorbed depreciation and
tax losses only if there is virtual certainty that such deferred tax assets can be realized against future taxable profits. Unrecognized deferred assets of
earlier year are re-assessed and recognized to the extent that it has become reasonably certain that future taxable income will be available against
which such defer tax assets can be realized.