Rudra Gas Enterprise Ltd. कंपली की लेखा नीति

Mar 31, 2025

2. SIGNIFICANT ACCOUNTING POLICIES

a. Basis of Preparation

The Standalone Financial Statements are prepared and presented in accordance with Generally
Accepted Accounting Principles (GAAP) under historical cost convention on accrual basis and
are in accordance with Accounting Standards and Provisions of Companies Act, 2013 to the
extent applicable.

The Company has prepared Standalone Financials as per revised Schedule III to the Companies
Act, 2013 issued by Ministry of Corporate Affairs.

All the assets and liabilities have been classified as current and non-current as per guidance
note issued by the Institute of Chartered Accountants of India.

The policies and procedures adopted by Management in preparation and presentation of
Financial Statement are in conformity with accounting standards issued by the Institute of
Chartered Accountants of India.

b. Use of estimates

The Standalone Financial Statements have been prepared under the historical cost convention,
on accrual basis of accounting to comply in a material respects, with the mandatory accounting
standards as specified under section 133 of the Companies Act 2013 ("the Act") read with rule 7
of Companies (Accounts) Rules 2014 and the relevant provisions of the Act. The preparation of
Standalone Financial Statements in conformity with Indian GAAP requires the management to
make Judgments, estimates and assumptions that affect the reported amounts of assets and
liabilities, revenue and expenses and the disclosures of contingent liabilities, at the end of the
reporting period. Although these estimates are based upon management''s best knowledge of
current events and actions, actual results could differ from these estimates.

c. Tangible Fixed Assets

Tangible assets are stated at cost net off recoverable taxes, trade discount and rebates, less
accumulated depreciation and impairment losses, if any. Cost comprises the purchase price,
including duties and other non-refundable taxes or levies and directly attributable cost of
bringing the asset to its working condition and indirect costs specifically attributable to
construction of a project or to the acquisition of fixed asset. Subsequent expenditure related to
an item of tangible asset are added to its book value only if they increase the future benefits
from the existing asset beyond its previously assessed standard of performance.

d. Intangible Assets

Intangible Assets are stated at their cost of acquisition less accumulated amortization and
impairment losses. An asset is recognized where it is possible that future economic benefits
attributable to the assets will flow to the enterprise and where its cost can reliably measured.

e. Depreciation and Amortization

The Company provides for depreciation on tangible assets to the extent of depreciable amount
on Straight Line method. Depreciation is provided based on useful life and residual value of the
assets an prescribed in Schedule II to the Companies Act, 2013.

Depreciation on additions to assets or on sale/discardment of assets is provided on pro rata
basis from the month in which assets have been putto use, uptothe month priortothe month in
which assets have been disposed off.

Depreciation on intangible assets is provided using straight line basis method as per the useful
lives of the assets as estimated by the management.

f. Leases
Operating Lease

Leases where the lessor effectively retains substantially all the risks and benefits of ownership
over the leased term are classified as operating leases. Operating lease rentals are recognized as
an expense, as applicable, over the lease period.

g. Impairment

If internal / external indications suggests that an asset of the company may be impaired, the
recoverable amount from the asset / CGU is determined on the date of balance sheet and if it is
less than its carrying amount of the asset / CGU is reduced to the recoverable amount.
Subsequently, if there is change in any indication since the last impairment was recognized, so
that the recoverable amount of the asset exceeds its carrying amount, an impairment
recognized for an asset in prior accounting period is reversed. The recoverable amount is
measured as higher of the net selling price and value in use of such assets / CGU, which is
determined bv the Dresent value of the estimated future cash flows.

An impairment of intangible assets is conducted annually or more often it varies an indication of
any decrease in value. The impairment loss, if any, is charged to the statement of profit and loss
account.

h. Investments

(a) lnvestments that are readily realizable and intended to be held for not more than a year
are classified as current investments. All other investments are classified as long term
investments.

(b) Current investments are carried at lower of the cost and fair value determined on an
individual investment basis.

(c) Investments, which are long term, are stated at cost. Provision for diminution, if any, is
made to recognize a decline, other than temporary, in the value of investments.

I. Revenue Recognition

(a) Revenue is recognized to the extent that it is probable that the economic benefits will
flow to the company and the revenue can be reliably measured.

(b) Revenue from sale of goods/ or on behalf of customers are recognized when the
substantial risk and rewards of ownership are transferred to the buyer under the terms of
the contract.

(c) Contract revenue is recognised over time to the extent of performance obligation
satisfied and control is transferred to the customer. Contract revenue is recognised at an
allocable transaction price which represents the cost of work performed on the contract
plus proportionate margin, using the percentage of completion method.

(d) Interest revenue is recognized on a time proportion basis taking into account the amount
outstanding and the rate applicable.

(e) Hire charges on machinery are recognized on the basis of number of days’ machinery
used.

J. Employee Benefits

Provident Fund-

Retirement benefit in the form of provident fund is a defined contribution scheme. The
contributions to the provident fund are charged to the statement of profit and loss for the
year when the contributions are due. The company has no further obligation, other than the
contribution payable to the provident fund.

Gratuity-

The Company operates a defined benefit gratuity plan which requires contributions to be
made to a separately administered fund by the Life Insurance Corporation of India (LIC). The
cost of providing benefits under the defined benefit plan is determined using the projected
unit credit method. The premium paid by the company is charged to the Statement of Profit
and Loss.

Leave Encashment-

The company does not permit accumulating of unused leaves.

k. Borrowing Cost

Borrowing costs that are directly attributable to the acquisition, construction or production
of qualifying assets are capitalized as part of the cost of such assets up to the date the asset
is ready for its intended use. Other borrowing costs are charged as an expense in the period
in which the same is incurred. Borrowing cost comprise of interest and other cost incurred in
connection with borrowing of funds.

l. Inventories

(a) Revenue is recognized to the extent that it is probable that the economic benefits will
flow to the company and the revenue can be reliably measured.

(b) Revenue from sale of goods/ or on behalf of customers are recognized when the
substantial risk and rewards of ownership are transferred to the buyer under the terms of
the contract.

(c) Contract revenue is recognised over time to the extent of performance obligation
satisfied and control is transferred to the customer. Contract revenue is recognised at an
allocable transaction price which represents the cost of work performed on the contract
plus proportionate margin, using the percentage of completion method.

(d) Interest revenue is recognized on a time proportion basis taking into account the amount
outstanding and the rate applicable.

(e) Hire charges on machinery are recognized on the basis of number of days’ machinery
used.

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Mar 31, 2024

2. SIGNIFICANT ACCOUNTING POLICIES

a. Basis of Preparation

The Standalone Financial Statements are prepared and presented in accordance with Generally Accepted Accounting Principles (GAAP) under historical cost convention on accrual basis and are in accordance with Accounting Standards and Provisions of Companies Act, 2013 to the extent applicable.

The Company has prepared Standalone Financials as per revised Schedule III to the Companies Act, 2013 issued by Ministry of Corporate Affairs.

All the assets and liabilities have been classified as current and non-current as per guidance note issued by the Institute of Chartered Accountants of India.

The policies and procedures adopted by Management in preparation and presentation of Financial Statement are in conformity with accounting standards issued by the Institute of Chartered Accountants of India.

b. Use of estimates

The Standalone Financial Statements have been prepared under the historical cost convention, on accrual basis of accounting to comply in a material respects, with the mandatory accounting standards as specified under section 133 of the Companies Act 2013 ("the Act") read with rule 7 of Companies (Accounts) Rules 2014 and the relevant provisions of the Act. The preparation of Standalone Financial Statements in conformity with Indian GAAP requires the management to make Judgments, estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expenses and the disclosures of contingent liabilities, at the end of the reporting period. Although these estimates are based upon management’s best knowledge of current events and actions, actual results could differ from these estimates.

c. Tangible Fixed Assets

Tangible assets are stated at cost net off recoverable taxes, trade discount and rebates, less accumulated depreciation and impairment losses, if any. Cost comprises the purchase price, including duties and other non-refundable taxes or levies and directly attributable cost of bringing the asset to its working condition and indirect costs specifically attributable to construction of a project or to the acquisition of fixed asset. Subsequent expenditure related to an item of tangible asset are added to its book value only if they increase the future benefits from the existing asset beyond its previously assessed standard of performance.

d. Intangible Assets

Intangible Assets are stated at their cost of acquisition less accumulated amortization and impairment losses. An asset is recognized where it is possible that future economic benefits attributable to the assets will flow to the enterprise and where its cost can reliably measured.

e. Depreciation and Amortization

Intangible Assets are stated at their cost of acquisition less accumulated amortization and impairment losses. An asset is recognized where it is possible that future economic benefits attributable to the assets will flow to the enterprise and where its cost can reliably measured.

Depreciation on additions to assets or on sale/discardment of assets is provided on pro rata basis from the month in which assets have been put to use, up to the month prior to the month in which assets have been disposed off.

Depreciation on intangible assets is provided using straight line basis method as per the useful lives of the assets as estimated by the management.

f. Leases Operating Lease

Leases where the lessor effectively retains substantially all the risks and benefits of ownership over the leased term are classified as operating leases. Operating lease rentals are recognized as an expense, as applicable, overthe lease period.

g. Impairment

If internal / external indications suggests that an asset of the company may be impaired, the recoverable amount from the asset / CGU is determined on the date of balance sheet and if it is less than its carrying amount of the asset / CGU is reduced to the recoverable amount. Subsequently, if there is change in any indication since the last impairment was recognized, so that the recoverable amount of the asset exceeds its carrying amount, an impairment recognized for an asset in prior accounting period is reversed. The recoverable amount is measured as higher of the net selling price and value in use of such assets / CGU, which is determined by the present value of the estimated future cash flows.

An impairment of intangible assets is conducted annually or more often it varies an indication of any decrease in value. The impairment loss, if any, is charged to the statement of profit and loss account.

h. Investments

(a) lnvestments that are readily realizable and intended to be held for not more than a year are classified as current investments. All other investments are classified as long term investments.

(b) Current investments are carried at lower of the cost and fair value determined on an individual investment basis.

(c) Investments, which are long term, are stated at cost. Provision for diminution, if any, is made to recognize a decline, other than temporary, in the value of investments.

I. Inventories

(a) lnvestments that are readily realizable and intended to be held for not more than a year are classified as current investments. All other investments are classified as long term investments.

(b) Raw materials and stores, spares and loose tools are valued "at Cost" or "net realizable value", whichever is lower.

(c) Cost of inventory of service in progress includes cost directly attributable to the contract of service.

J. Employee Benefits

Provident Fund-

Retirement benefit in the form of provident fund is a defined contribution scheme. The contributions to the provident fund are charged to the statement of profit and loss for the year when the contributions are due. The company has no further obligation, other than the contribution payable to the provident fund.

Gratuity-

The Company operates a defined benefit gratuity plan which requires contributions to be made to a separately administered fund by the Life Insurance Corporation of India (LIC). The cost of providing benefits under the defined benefit plan is determined using the projected unit credit method. The premium paid by the company is charged to the Statement of Profit and Loss.

Leave Encashment-

The company does not permit accumulating of unused leaves.

k. Borrowing Cost

Borrowing costs that are directly attributable to the acquisition, construction or production of qualifying assets are capitalized as part of the cost of such assets up to the date the asset is ready for its intended use. Other borrowing costs are charged as an expense in the period in which the same is incurred. Borrowing cost comprise of interest and other cost incurred in connection with borrowing of funds.

l. Inventories

(a) The Company has complied with AS-2 "Valuation of Inventories" issued by the Institute of Chartered Accountants of India, to the extent practicable keeping in mind the peculiar nature of the Industry.

(b) Raw materials and stores, spares and loose tools are valued "at Cost" or "net realizable value", whichever is lower.

(c) Cost of inventory of service in progress includes cost directly attributable to the contract of service.

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Mar 31, 2023

' 1 COMPANY INFORMATION

RUDRA GAS ENTERPRISE PVT. LTD. (’the company") is a private limited company domiciled in India, incorporated under the provisions of Companies Act, 19S6. The registered office of the company is located at B-702, the capital building, science city road, opp. Hetarth party plot, Sola , Ahmedabad GJ 380060.

2 significant accounting policies

a Basis of Preparation

The financial statements have been prepared under the historical cost convention, on accrual basis of accounting to comply in a material respects, with the mandatory accounting standards as specified under section 133 of the Companies Act 2013 ("the Act") read with rule 7 of Companies (Accounts) Rules 2014 and the relevant provisions of the Act. The accounting policies have been consistently applied by the Company; and the accounting policies not referred to otherwise, are in conformity with Indian Generally Accepted Accounting Principles (Indian GAAP).

The Company is a Small and Medium Sized Company (SMC) as defined in the Companies (Accounting Standards) Rules, 2021 notified under the Companies Act, 2013. Accordingly, the Company has complied with the Accounting Standards as applicable to a Small and Medium Sized Company.

b Use of estimates

The preparation of financial statements requires the management of the Company to make estimates and assumptions that affect the reported balances of assets and liabilities and disclosures relating to the contingent liabilities as at the date of the financial statements and reported amounts of income and expense during the year. Examples of such estimates include provisions for doubtful receivables, provision for income taxes, the useful lives of depreciable fixed assets and provision for impairment. Future results could differ due to changes in these estimates and the difference between the actual result and the estimates are recognised in the period in which the results are known / materialise.

c Property, Plant and Equipment

i)    Property, Plant and Equipments(Tangible assets)

Property, plant and equipments are stated at cost net off recoverable taxes, trade discount and rebates, less accumulated depreciation and impairment losses, if any. Cost comprises the purchase price, including duties and other non-refundable taxes or levies and directly attributable cost of bringing the asset to its working condition and indirect costs specifically attributable to construction of a project or to the acquisition of fixed asset. Subsequent expenditure related to an item of tangible asset are added to its book value only if they increase the future benefits from the existing asset beyond its previously assessed standard of performance. Assets retired from active use are carried at lower of book value and estimated net realisable value.

ii)    Intangible Assets

Intangible Assets are recognized on the basis of recognition criteria as set out in Accounting Standard (AS-26) ’Intangible Assets'.

d Depreciation / amortisation

The Company provides for depreciation on tangible assets to the extent of depreciable amount on Straight Line method. Depredation is provided based on useful life and residual value of the assets an prescribed in Schedule II to the Companies Act, 2013.

Depreciation on additions to assets or on sale/discardment of assets is provided on pro rata basis from the month in which assets have been put to use, up to the month prior to the month in which assets have been disposed off.

Intangible Assets are amortized on straight line method over the expected duration of benefits not exceeding ten years, the period is determined in accordance with Accounting Standard (AS-26) "Intangible Asset".

e Leases

Lease arrangements where the risks and rewards incidental to ownership of an asset substantially vest with the lessor, are recognised as operating leases. Lease rentals under operating leases are recognised in the statement of profit and loss on a straight-line basis.

f Impairment

An asset is treated as impaired when the carring cost of asset exceeds its recoverable value. An impairment loss is charged to the Statement of Profit and Loss in the year in which an asset is identified as impaired. The impairment loss recognised in prior accounting period is reversed, if there has been a change in the estimate of recoverable amount.

g Revenue recognition

i.    Revenue from sale of goods/ or on behalf of customers are recognized when the substantial risk and rewards of ownership are transferred to the buyer under the terms of the contract.

ii.    Revenue from the contract is recognized on completion of assignment as per terms with the clients & mutually certified.

iii.    Interest income is generally recognized on a time proportion biySts byjronsidering the outstanding amount

and applicable rate.    /¦-. , \

iv.    other sales are recognized on an accrual basis.    j \\ J j,

" h Taxation

Current income tax expense comprises taxes on income from operations in India and in foreign jurisdictions. Income tax payable in India is determined in accordance with the provisions of the Income Tax Act, 1961. Tax expense relating to foreign operations is determined in accordance with tax laws applicable in countries where such operations are domiciled.

Deferred tax expense or benefit is recognised on timing differences being the difference between taxable income and accounting income that originate in one period and is likely to reverse in one or more subsequent periods. Deferred tax assets and liabilities are measured using the tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date.

Advance taxes and provisions for current income taxes are presented in the balance sheet after off-setting advance tax paid and income tax provision arising in the same tax jurisdiction for relevant tax paying units and where the Company is able to and intends to settle the asset and liability on a net basis.

The Company offsets deferred tax assets and deferred tax liabilities if it has a legally enforceable right and these relate to taxes on income levied by the same governing taxation laws.

i Employee Benefits

Employee benefits are recognised as an expense on accrual basis in the Profit and Loss Account of the year in which the related service is rendered. The company does not permit accumulating of unused leaves.

j Borrowing Costs

Borrowing costs that are directly attributable to the acquisition, construction or production of qualifying assets are capitalised as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial period of time to get ready for intended use. All other borrowing costs are charged to revenue.

k Inventories

Inventories of goods and spare parts are valued at the lower of the cost and estimated net realisable value. Cost of inventory of service in progress includes cost directly attributable to the contract of service

I Provisions, Contingent liabilities and Contingent assets

A provision is recognised when the Company has a present obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation, in respect of which reliable estimate can be made. Provisions (excluding retirement benefits and compensated absences) are not discounted to its present value and are determined based on 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. Contingent liabilities are not recognised in the financial statements. A contingent asset is neither recognised nor disclosed in the financial statements.

m Preliminary Expenditure

Preliminary expenditure is being amortized over a period of five years, n Cash and cash equivalents

The Company considers all highly liquid financial instruments, which are readily convertible into known amount of cash that are subject to an insignificant risk of change in value and having original maturities of three months or less from the date of purchase, to be cash equivalents.