Shreenath Investments Company Ltd. कंपली की लेखा नीति

Mar 31, 2024

a. Cash and cash equivalents Cash comprises cash on hand and demand deposits with banks.
Cash equivalents are short-term balances (with an original maturity of three months or less
from the date of acquisition), highly liquid investments that are readily convertible into known
amounts of cash and which are subject to insignificant risk of changes in value.

b. Current-non-current classification

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

Assets

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

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

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

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

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

Current assets include the current portion of non-current financial assets. All other assets are
classified as non-current. —^

Liabilities

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

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

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

c. it is due to be settled within 12 months after the reporting date; or

d. the company does not have an unconditional right to defer settlement of the liability for at
least 12 months after the reporting date.

Current liabilities include current portion of non-current financial liabilities.

Deferred tax assets are classified as non- current assets.

Operating cycle is the time between the acquisition of assets for processing and their realisation in
cash and cash equivalents.

c. Foreign exchange transactions

Toreign currency transactions, if any, are recorded at the rates of exchange prevailing on the dates
of the respective transaction. Exchange differences arising on foreign exchange transactions settled
during the year are recognised in the statement of profit and loss.

Monetary assets and liabilities denominated in foreign currencies, if any, as at the balance sheet
date are translated at the closing exchange rates on that date, the resultant exchange differences
are recognised in the statement of profit and loss.

d. Property, plant and equipment

Property, plant and equipment (PPE) are measured at cost, net of accumulated depreciation and/or
accumulated impairment losses, if any. The cost of PPE includes freight, duties, taxes and other
incidental expenses related to the acquisition or construction of those PPE. Likewise, when a major
inspection is performed, its costs are recognised in the carrying amount of the plant and equipment
as a replacement if the recognition criteria are satisfied.

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 item of property, plant and equipment is derecognized upon disposal or when no future
economic benefits are expected from its use or disposal. Any gain or loss arising on de-recognition of
the asset (calculated as the difference between the net disposal proceeds and the carrying amount
of the asset) is included in statement of profit or loss in the year the asset is derecognized.

Subsequent measurement

Subsequent expenditure is capitalised only if it is probable that the future economic benefits
associated with the expenditure will flow to the Company. All other repairs and maintenance costs
are recognised in statement of profit and loss as incurred.

Depreciation

Depreciation is provided on the written down value method over the estimated useful life of the
assets, which are equal/lower than the rates prescribed under Schedule II of the Companies Act,

2013. In order to reflect the actual usage of assets, the estimated useful lives of the assets is based
on a technical evaluation.

Asset category Estimated useful life (Years)

Buildings 60 years

Furniture and Fixtures 10 years
Office equipment 5 years

Depreciation is charged on a proportionate basis for all assets purchased and sold during the year.

The residual values, useful lives and methods of depreciation of property, plant and equipment are
reviewed at each financial year end and adjusted prospectively, if appropriate.

Advances paid towards the acquisition of property, plant and equipment outstanding at each
balance sheet date are shown as capital advances under long-term loans and advances and the cost
of property, plant and equipment not ready for their intended use before such date are disclosed
under capital work-in-progress.

e. Impairment of assets
Impairment of non-financial assets

The Company assesses at each balance sheet date whether there is any indication that an asset or a
group of assets comprising a cash generating unit may be impaired. If any such indication exists, the
Company estimates the recoverable amount of the asset. For an asset or group of assets that does
not generate large independent cash inflows, the recoverable amount is determined for the cash¬
generating unit to which the asset belongs. If such recoverable amount of the asset or the
recoverable amount of the cash generating unit to which the asset belongs is less than its carrying
amount, the carrying amount is reduced to its recoverable amount. The reduction is treated as an
impairment loss and Is recognised in the statement of profit and loss. If at the balance sheet date
there is an indication that if a previously assessed impairment loss no longer exists, the recoverable
amount is reassessed, and the asset is reflected at the recoverable amount subject to a maximum
of depreciable historical cost. An impairment loss is reversed only to the extent that the carrying
amount of asset does not exceed the net book value that would have been determined, if no
impairment loss had been recognized.

f. Employee benefits

The Company has one employee. The Company is of the opinion that the provisions of the Payment
of Gratuity Act, 1972 are not applicable to it. Accordingly, no provision is considered necessary in
respect of the same.

In respect of recognition and measurement of short term accumulated compensated absences, the
Company''s policy is that employee is not entitled to cash payment for unused leave entitlement.
Accordingly, no provision is considered necessary in respect of the same.

g. Revenue recognition

Effective April 1, 2018, the Company has applied Ind AS 115 which establishes a comprehensive
framework for determining whether, how much and when revenue is to be recognised. Ind AS 115
replaces Ind AS 18 Revenue and Ind AS 11 Construction Contracts. The impact of the adoption of
the standard on the financial statemBo^sof the Company is insignificant.

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Professional Fees

The Company recognises professional fees income on accrual basis.

Profit on sale of Investments

Profit on sale of investments is recorded on transfer of title from the Company and is determined as
the difference between the sales price and carrying value of the investment.

Dividend Income

Dividend income on investments is accounted for when the right to receive the payment is
established. Profit on sale of Investment is recognised at the time of redemption/sale based on
contract note.

Interest Income

Under Ind AS 109, Interest income is recognised by applying the Effective Interest Rate (EIR) to the
gross carrying amount of loans and advances (financial assets recognized at amortized cost) other
than credit-impaired assets and financial assets classified as measured at fair value through Profit
and loss (FVTPL).

Commodities Sale

The Company recognises revenues when control of the goods is transferred to the customer at an
amount that reflects the consideration to which the Company expects to be entitled in exchange for
those goods. The terms of arrangements in case of sales, including the timing of transfer of control,
delivery specifications and other contractual and commercial terms, are relevant factors in
determining the timing and value of revenue to be recognised. The Company believes that the
control gets transferred to the customer on dispatch of the goods from the warehouse.

Goods & Service Tax (GST)

Goods & Services Tax is credited separately as liability and payments are debited to that account.
No charge is made to Statement of Profit and Loss in respect of GST collected and paid except when
the tax incurred on a purchase of assets or services is not recoverable from the taxation authority,
in which case, the tax paid is recognised as part of the cost of acquisition of the asset or as part of
the expense item, as applicable.

Any undisputed GST demand from the respective authorities is charged to the Statement of Profit
and Loss on the completion of assessment. Similarly, refund due is accounted as revenue and
credited to the Statement of Profit and Loss on completion of assessment.

Commodity Derivative Contracts

Initial recognition and subsequent measurement

The Company enters into derivative instruments such as commodity future contract to manage its
exposure to risk associated with commodity prices fluctuations. The counter party for those
contracts are multi-commodity exchange.

The Company s use of these instruments is intended to mitigate exposure to market variables. The
Company''s senior management has assessed and evaluated that committed purchase and sales
contracts are in scope of ''Financial Instrument'' as per Ind AS 109..

All such contracts are initially recognised at fair value through profit or loss and subsequently re¬
measured at fair value. The changes in fair value of commodity derivatives are recognised in
Statement of Profit or Loss.

Income tax expense comprises current tax and deferred tax charge or credit. Income tax expense is
recognized in statement of profit or loss except to the extent that it relates to items recognized in
other comprehensive income (OCI) or directly in equity.

Current tax

Current tax is the 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 the previous year. It is measured using tax
rates (and tax laws) enacted or substantially enacted by the reporting date.

Current tax assets and current tax liabilities are offset only if there is a legally enforceable right to
set off the recognised amounts, and it is intended to realise the asset and settle the liability on a
net asset basis.

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 corresponding amounts used for
taxation purposes.

Deferred tax assets are recognised only to the extent that it is probable that future taxable profits
will be available against which they can be used. Deferred tax assets are reviewed at each balance
sheet date and are recognised/ reduced to the extent that it is probable / no longer probable
respectively that the related tax benefit will be realised.

Deferred tax is measured at the tax rates that are expected to apply to the period when the asset is
realised or the liability is settled, based on the laws that have been enacted or substantively
enacted by the reporting date.

Deferred tax relating to items recognised outside statement of profit or loss is recognised outside
statement of profit or loss (either in OCI or in equity). Deferred tax items are recognised in
correlation to the underlying transaction either in OCI or directly in equity.

i. Cash flow statement

Cash flows are reported using the indirect method, whereby net profit/ (loss) before tax is adjusted
for the effects of transactions of a non-cash nature and any deferrals or accruals of past or future
cash receipts or payments. The cash flows from regular revenue generating, investing and financing
activities of the Company are segregated.

j. Earnings per share

Basic earnings per share are computed by dividing profit or loss attributable to equity shareholders
of the Company by the weighted average number of equity shares outstanding during the period.
The Company did not have any potentially dilutive securities in any of the periods presented.

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Mar 31, 2014

1. Background

The Company's shares are listed on Bombay Stock Exchange Ltd ('BSE'). On January 18, 1999, BSE has suspended the trading in the Company's shares on account of non-compliance with Listing Agreement with BSE.

2. Basis of Preparation of Financial Statement

The Financial Statements are prepared under historical cost convention on an accrual basis and in compliance with all material aspects of the Notified Accounting Standard by Companies (Accounting Standard) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956. The accounting policies have been consistently applied by the company and are consistent with those used in the previous year.

3. Use of estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during 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.

4. Revenue Recognition

Dividend income on investments is accounted for when the right to receive the payment is established. Rent Income on property is recognized on accrual basis. Profit on sale of Investment is recognized at the time of redemption/sale.

5. Fixed Assets

Fixed Assets are stated at 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 its intended use.

6. Depreciation/ Amortisation

Depreciation on fixed assets is provided on written down value method at the rate specified under Schedule XIV to the Companies Act, 1956 except mobile phone, which is fully depreciated in the year of purchase. Depreciation on assets added/ disposed during the year has been provided with reference to the date of addition/ disposal.

7. Impairment of Assets

The Carrying amount of assets is reviewed at each Balance Sheet date if there is any indication of impairment based on internal/ external factors. An asset is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss if any is charged to Profit and Loss Account in the year in which an asset is identified as impairment. Reversal of impairment losses recognized in prior years is recorded when there is an indication that the impairment losses recognized for the assets no longer exists or has decreased.

8. Investments

Long term Investments are stated at cost after deducting provision, if any, made for diminution, other than temporary, in the values.

Current Investments are stated at lower of cost and market/ fair value.

9. Taxation

Provision for current tax is made on the basis of Estimated Taxable Income for the current accounting year in accordance with the Income Tax Act, 1961.

The deferred tax for timing differences between the book and tax profits for the year is accounted for, using the tax rates and laws that have been substantively enacted as of the balance sheet date.

Deferred tax assets arising from timing differences are recognized to the extent there is reasonable certainty that these would be realized in future.

Deferred tax assets are recognized on unabsorbed losses only if there is virtual certainty that such deferred tax assets can be realized against future taxable profit.

10. Cash and Cash equivalents:

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

11. Contingent Liabilities:

Contingent Liabilities as defined in AS 29 on "Provision, Contingent Liabilities and Contingent Assets" are disclosed by way of notes to accounts. Provision is made if it becomes probable that an outflow of future economic benefits will be required for ap item previously dealt with as contingent liability. Contingent assets are neither recognized nor disclosed in the financial statements.

4. Disclosure in respect of Related Parties pursuant to Accounting Standard 18:

A. List Of related Party Key Managerial Person (KMP) Vikas Mapara

B. Enterprise having Common KMP Visual Percept Solar Private Limited

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Mar 31, 2013

1. Basis of Preparation of Financial Statement

The Financial Statements are prepared under historical cost convention on an accrual basis and in compliance with all material aspects of the Notified Accounting Standard by Companies (Accounting Standard) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956. The accounting policies have been consistently applied by the company and are consistent with those used in the previous year.

2. Use of estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during 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.

3. Revenue Recognition

Dividend income on investments is accounted for when the right to receive the payment is established. Rent Income on property is recognized on accrual basis. Profit on sale of Investment is recognized at the time of redemption/sale.

4. Fixed Assets

Fixed Assets are stated at 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 its intended use.

5. Depreciation/ Amortisation

Depreciation on fixed assets is provided on written down value method at the rate specified under Schedule XIV to the Companies Act, 1956 except mobile phone, which is fully depreciated in the year of purchase. Depreciation on assets added/ disposed during the year has been provided with reference to the date of addition/ disposal.

6. Impairment of Assets

The Carrying amount of assets is reviewed at each Balance Sheet date if there is any indication of impairment based on internal/ external factors. An asset is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss if any is charged to Profit and Loss Account in the year in which an asset is identified as impairment. Reversal of impairment losses recognized in prior years is recorded when there is an indication that the impairment losses recognized for the assets no longer exists or has decreased. ^P

7. Investments

Long term Investments are stated at cost after deducting provision, if any, made for diminution, other than temporary, in the values.

Current Investments are stated at lower of cost and market/ fair value.

8. Taxation

Provision for current tax is made on the basis of Estimated Taxable Income for the current accounting year in accordance with the Income Tax Act, 1961.

The deferred tax for timing differences between the book and tax profits for the year is accounted for, using the tax rates and laws that have been substantively enacted as of the balance sheet date.

Deferred tax assets arising from timing differences are recognized to the extent there is reasonable certainty that these would be realized in future.

Deferred tax assets are recognized on unabsorbed losses only if there is virtual certainty that such deferred tax assets can be realized against future taxable profit.

9. Cash and Cash equivalents:

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

10. Contingent Liabilities:

Contingent Liabilities as defined in AS 29 on "Provision, Contingent Liabilities and Contingent Assets" are disclosed by way of notes to accounts. Provision is made if it becomes probable that an outflow of future economic benefits will be required for an item previously dealt with as contingent liability. Contingent assets are neither recognized nor disclosed in the financial statements.

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Mar 31, 2011

1. Accounting Convention

The Financial Statements are prepared under historical cost convention on an accrual basis and in compliance with all material aspects of the Notified Accounting Standard by Companies Accounting Standard Rules, 2006 and the relevant provisions of the Companies Act, 1956. The accounting policies have been consistently applied by the company and are consistent with those used in the previous year.

2. Use of estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during 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.

3. Revenue Recognition

Dividend income on investments is accounted for when the right to receive the payment is established. Rent Income on property is recognized on accrual basis. Profit on sale of Investment is recognized at the time of redemption/sale.

4. Fixed Assets

Fixed Assets are stated at 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 its intended use.

5. Depreciation/ Amortisation

Depreciation on fixed assets is provided on written down value method at the rate specified under Schedule XIV to the Companies Act, 1956 except mobile phone, which is fully depreciated in the year of purchase. Depreciation on assets added/ disposed during the year has been provided with reference to the date of addition/ disposal.

6. Impairment of Assets

The Carrying amount of assets is reviewed at each Balance Sheet date if there is any indication of impairment based on internal/ external factors. An asset is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss if any is charged to Profit and Loss Account in the year in which an asset is identified as impairment. Reversal of impairment losses recognized in prior years is recorded when there is an indication that the impairment losses recognized for the assets no longer exists or has decreased.

7. Investments

Long term Investments are stated at cost after deducting provision if any, made for diminution, other than temporary, in the values.

Current Investments are stated at lower of cost and market/fair value.

8. Taxation

Provision for current tax is made on the basis of Estimated Taxable Income for the current accounting year in accordance with the Income Tax Act, 1961.

The deferred tax for timing differences between the book and tax profits for the year is accounted for, using the tax rates and laws that have been substantively enacted as of the balance sheet date.

Deferred tax assets arising from timing differences are recognized to the extent there is reasonable certainty that these would be realized in future.

Deferred tax assets are recognized on unabsorbed losses only if there is virtual certainty that such deferred tax assets can be realized against future taxable profit.

9. Cash and Cash equivalents:

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

10. Contingent Liabilities:

Contingent Liabilities as defined in AS 29 on "Provision, Contingent Liabilities and Contingent Assets" are disclosed by way of notes to accounts. Provision is made if it becomes probable that an outflow of future economic benefits will be required for an item previously dealt with as contingent liability. Contingent assets are neither recognized nor disclosed in the financial statements.

11. Capital Commitments:

The company does not have any capital commitment.

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Mar 31, 2010

1. Accounting Convention

The Financial Statements are prepared under historical cost convention on an accrual basis and in compliance with all material aspects of the Notified Accounting Standard by Companies Accounting Standard Rules, 2006 and the relevant provisions of the Companies Act, 1956. The accounting policies have been consistently applied by the company and are consistent with those used in the previous year.

2. Use of estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during 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.

3. Revenue Recognition

Dividend income on investments is accounted for when the right to receive the payment is established. Rent Income on property is recognized on accrual basis. Profit on sale of Investment is recognized at the time of redemption/sale.

4. Fixed Assets

Fixed Assets are stated at 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 its intended use.

5. Depreciation/ Amortisation

Depreciation on fixed assets is provided on written down value method at the rate specified under Schedule XIV to the Companies Act, 1956 except mobile phone, which is fully depreciated in the year of purchase. Depreciation on assets added/ disposed during the year has been provided with reference to the date of addition/ disposal.

6. Impairment of Assets

The Carrying amount of assets is reviewed at each Balance Sheet date if there is any indication of impairment based on internal/ external factors. An asset is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss if any is charged to Profit and Loss Account in the year in which an asset is identified as impairment. Reversal of impairment losses recognized in prior years is recorded when there is an indication that the impairment losses recognized for the assets no longer exists or has decreased.

7. Investments

Long term Investments are stated at cost after deducting provision, if any, made for diminution, other than temporary, in the values. Current investments are stated at lower of cost and market/ fair value.

8. Taxation

Provision for current tax is made on the basis of Estimated Taxable Income for the current accounting year in accordance with the Income Tax Act, 1961. The deferred tax for timing differences between the book and tax profits for the year is accounted for, using the tax rates and laws that have been substantively enacted as of the balance sheet date. Deferred tax assets arising from timing differences are recognized to the extent there is reasonable certainty that these would be realized in future.

Deferred tax assets are recognized on unabsorbed losses only if there is virtual certainty that such deferred tax assets can be realized against future taxable profit.

9. Cash and Cash equivalents:

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

10. Contingent Liabilities:

Contingent Liabilities are not provided for are disclosed by way of notes.

11. Capital Commitments:

The company does not have any capital commitment.

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Mar 31, 2009

1. Accounting Convention

The Financial Statements are prepared under historical cost convention, on an accrual basis and in accordance with the applicable accounting standards and relevant provisions of the Companies Act 1956. The accounting policies have been consistently applied by the company and are consistent with those used in the previous year.

2. Revenue Recognition

Dividend income on investments is accounted for when the right to receive the payment is established. Income from Services is Recognized as they are rendered based on agreements with concerned parties.

3. Fixed Assets

Fixed Assets are stated at 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 its intended use.

4. Depreciation/ Amortisation

Depreciation on fixed assets is provided on written down value method at the rate specified under Schedule XIV to the Companies Act, 1956 except mobile phone, which is fully depreciated in the year of purchase. Depreciation on assets added/ disposed during the year has been provided with reference to the date of addition/ disposal.

5. Impairment of Assets

The Carrying amount of assets is reviewed at each Balance Sheet date if there is any indication of impairment based on internal/ external factors. An asset is treated as impaired when the carrying cost of assets exceeds its recoverable value. An impairment loss if any is charged to Profit and Loss Account in the year in which an asset is identified as impairment. Reversal of impairment losses recognized in prior years is recorded when there is an indication that the impairment losses recognized for the assets no longer exists or has decreased.

6. Investments

Long term Investments are stated at cost after deducting provision, if any, made for diminution, other than temporary, in the values.

Current Investments are stated at lower of cost and market/fair value.

7. Taxation

Provision for current tax is made on the basis of Estimated Taxable Income for the current accounting year in accordance with the Income Tax Act, 1961.

The deferred tax for timing differences between the book and tax profits for the year is accounted for, using the tax rates and laws that have been substantively enacted as of the balance sheet date.

Deferred tax assets arising from timing differences are recognized to the extent there is reasonable certainty that these would be realized in future- Deferred tax assets are recognized on unabsorbed losses only if there is virtual certainty that such deferred tax assets can be realized against future taxable profit.

8. Contingent Liabilities

Contingent Liabilities are not provided for and are disclosed by way of notes.