Shyama Computronics and Services Ltd. कंपली की लेखा नीति

Mar 31, 2024

1. SIGNIFICANT ACCOUNTING POLICIES:

1.1 Basis of Accounting

1.1.1 Compliance with Ind AS

The financial statements comply in all material respects with Indian Accounting Standards (Ind AS) notified
under Section 133 of the Companies Act, 2013 (the ''Act'') [Companies (Accounting Standards) Rules, 2015]
and other provisions of the Act.

The financial statements up to year ended 31st March, 2017 were prepared in accordance with the
accounting standards notified under Companies (Accounting Standards) Rules, 2006 (as amended) and
other relevant provisions of the Act (Previous GAAP).

1.1.2 Historical Cost Convention

The financial statements have been prepared on a historical cost basis, except for the following:

- Certain financial assets and liabilities (including derivative instruments) that is measured at fair value.

- Defined benefit plans - plan assets measured at fair value

1.1.3 Current Versus Non-Current Classification

The Company presents assets and liabilities in the Balance Sheet based on current/non-current
classification.

An asset is classified as current when it is:

a) expected to be realised or intended to be sold or consumed in the normal operating cycle,

b) held primarily for the purpose of trading,

c) expected to be realised within twelve months after the reporting period, or

d) cash or cash equivalents unless restricted from being exchanged or used to settle a liability for at least
twelve months after the reporting period

All other assets are classified as non-current

A liability is classified as current when it is:

a) it is expected to be settled in the normal operating cycle,

b) it is held primarily for the purpose of trading,

c) it is due to be settled within twelve months after the reporting period, or

d) there is no unconditional right to defer settlement of the liability for at least twelve months after the
reporting period.

All other liabilities are classified as non-current.

Deferred tax assets and liabilities are classified as non-current.

1.2 Revenue Recognition

The Company recognises revenue when the amount of revenue can be reliably measured, it is probable that
future economic benefits will flow to the Company and specific criteria have been met for each of the
Company''s activities as described below. The Company bases its estimates on historical results, taking into
consideration the type of customer, the type of transaction and the specifics of each arrangement.

1.2.1 Interest Income

Interest income from Loans given is recognised using the effective interest rate method. The effective
interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of
the financial asset to the gross carrying amount of a financial asset. When calculating the effective interest
rate, the Company estimates the expected cash flows by considering all the contractual terms of the
financial instrument but does not consider the expected credit losses.

1.2.2 Dividend

Dividend is recognised in profit or loss only when the right to receive payment is established, it is probable
that the economic benefits associated with the dividend will flow to the Company, and the amount of the
dividend can be measured reliably.

1.3 Property, Plant and Equipment

Freehold land is carried at historical cost. All other items of Property, Plan and Equipment are stated at
historical cost less accumulated depreciation and accumulated impairment losses, if any. Historical cost
includes expenditure that is directly attributable to the acquisition of the items.

Subsequent costs are included in the asset''s carrying amount or recognised as a separate asset, as
appropriate, only when it is probable that future economic benefits associated with the item will flow to the
Group 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 profit or loss during the reporting period in which they are incurred.

Transition to Ind AS

On transition to Ind AS, the Group has elected to continue with the carrying value of all of its property, plant and
equipment recognised as at 1st April, 2016 measured as per the Previous GAAP and use that carrying value as the
deemed cost of the property, plant and equipment.

Depreciation Method, Estimated Useful Lives and Residual Values

Depreciation is calculated on a pro-rata basis using the straight-line method to allocate their cost, net of their
estimated residual values, over their estimated useful lives in accordance with Schedule II to the Act. Each
component of an item of property, plant and equipment with a cost that is significant in relation to the cost of that
item is depreciated separately if its useful life differs from the other components of the item.

1.4 Investments and Other Financial Assets

a. Classification

The Company classifies its financial assets in the following measurement categories:

- those to be measured subsequently at fair value (either through other comprehensive income or
through profit or loss), and

- those to be measured at amortised cost.

The classification depends on the Company''s business model for managing the financial assets and the
contractual terms of the cash flows.

For assets measured at fair value, gains and losses will either be recorded in profit or loss or other
comprehensive income. For investments in debt instruments, this will depend on the business model in
which the investment is held. For investments in equity instruments, this will depend on whether the
Company has made an irrevocable election at the time of initial recognition to account for the equity
investment at fair value through other comprehensive income.

The Company reclassifies debt investments when and only when its business model for managing those
assets changes.

b. Measurement

At initial recognition, the Company measures a financial asset at its fair value plus, in the case of a financial
asset not at fair value through profit or loss, transaction costs that are directly attributable to the
acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or
loss are expensed in profit or loss.

Loans given

Subsequent measurement of debt instruments depends on the Company''s business model for managing the
asset and the cash flow characteristics of the asset. There are three measurement categories into which the
Company classifies its debt instruments:

• Amortised Cost: Assets that are held for collection of contractual cash flows where those cash flows

represent solely payments of principal and interest are measured at amortised cost. A gain or loss on a
debt instrument that is subsequently measured at amortised cost is recognised in profit or loss when the
asset is derecognised or impaired.

• Fair Value through Other Comprehensive Income (FVTOCI): Assets that are held for collection of
contractual cash flows and for selling the financial assets, where the assets'' cash flows represent solely
payments of principal and interest, are measured at fair value through other comprehensive income
(FVTOCI). Movements in the carrying amount are taken through OCI, except for the recognition of
impairment gains or losses, interest income and foreign exchange gains and losses which are recognised in

the profit or loss. When the financial asset is derecognised, the cumulative gain or loss previously
recognised in OCI is reclassified from equity to profit or loss and recognised in ''Other Income''.

• Fair Value through Profit or Loss: Assets that do not meet the criteria for amortised cost or FVOCI are
measured at fair value through profit or loss. A gain or loss on a debt investment that is subsequently
measured at fair value through profit or loss is recognised in profit or loss and presented net in the
Statement of Profit and Loss within ''Other Income'' in the period in which it arises.

Equity Instruments

The Company subsequently measures all equity investments at fair value, except investments in associates
which are measured at cost. Where the Company''s management has elected to present fair value gains and
losses on equity investments in other comprehensive income, there is no subsequent reclassification of fair
value gains and losses to profit or loss. Changes in the fair value of financial assets at fair value through
profit or loss are recognised in ''Other Income'' in the Statement of Profit and Loss.

c. Impairment of Financial Assets

The Company assesses on a forward looking basis the expected credit losses associated with its assets which
are not fair valued through profit or loss. The impairment methodology applied depends on whether there
has been a significant increase in credit risk.

109 ''Financial Instruments'', which requires expected lifetime losses to be recognised from initial recognition
of the receivables.

d. Derecognition of Financial Assets

A financial asset is derecognised only when

- the Company has transferred the rights to receive cash flows from the financial asset or

- retains the contractual rights to receive the cash flows of the financial asset, but assumes a contractual
obligation to pay the cash flows to one or more recipients.

Where the entity has transferred an asset, the Company evaluates whether it has transferred substantially
all risks and rewards of ownership of the financial asset. In such cases, the financial asset is derecognised.
Where the entity has not transferred substantially all risks and rewards of ownership of the financial asset,
the financial asset is not derecognised.

Where the entity has neither transferred a financial asset nor retains substantially all risks and rewards of
ownership of the financial asset, the financial asset is derecognised if the Company has not retained control
of the financial asset. Where the Company retains control of the financial asset, the asset is continued to be
recognised to the extent of continuing involvement in the financial asset.

e. Fair Value of Financial Instruments

In determining the fair value of financial instruments, the Company uses a variety of methods and
assumptions that are based on market conditions and risks existing at each reporting date. The methods
used to determine fair value include discounted cash flow analysis and available quoted market prices. All
methods of assessing fair value result in general approximation of value, and such value may never actually
be realised.

1.5 Financial liabilities

a. Initial recognition and measurement

The Company recognises all the financial liabilities on initial recognition at fair value minus, in the case of a
financial liability not at fair value through Profit or Loss, transaction costs that are directly attributable to
the acquisition or issue of the financial liability.

b. Subsequent measurement

All the financial liabilities are subsequently measured at amortised cost, except for those mentioned below-
Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial
liabilities designated upon initial recognition as at fair value through profit or loss. Financial liabilities are
classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This
category also includes derivative financial instruments entered into by the company that are not designated
as hedging instruments in hedge relationships as defined by Ind AS 109.

Gains or losses on liabilities held for trading are recognised in the profit or loss.

For liabilities designated as Fair Value through profit or loss, fair value gains/losses attributable to changes
in own credit risk are recognised in Other Comprehensive Income. These gains/losses are not subsequently
transferred to Profit or Loss. However, the Company may transfer the cumulative gain or loss within equity.
All other changes in fair value of such liability are recognised in the Statement of Profit and Loss.

Financial guarantee contracts

Financial guarantee contracts issued by the Company are those contracts that require a payment to be
made to reimburse the holder for a loss it incurs because the specified debtor fails to make a payment when
due. Financial guarantee contracts are recognised initially as a liability at fair value, adjusted for transaction
costs. Subsequently, the liability is measured at the higher of the amount of loss allowance determined as
per impairment requirements of Ind AS 109 and the amount recognised less cumulative amortisation.

1.6 Offsetting Financial Instruments

Financial assets and liabilities are offset and the net amount is reported in the Balance Sheet where there is
a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis
or realise the asset and settle the liability simultaneously. The legally enforceable right must not be
contingent on future events and must be enforceable in the normal course of business and in the event of
default, insolvency or bankruptcy of the respective entities in the Company or the counterparty.

1.7 Cash and Cash Equivalents

For the purpose of presentation in the Cash Flow Statement, cash and cash equivalents includes cash on
hand, deposits held at call with financial institutions, other short-term, highly liquid investments with
original maturities of three months or less that are readily convertible to known amounts of cash and which
are subject to an insignificant risk of changes in value.

1.8 Trade Payables

Trade payables represent liabilities for goods and services provided to the Company prior to the end of
financial year which are unpaid. Trade and other payables are presented as current liabilities unless
payment is not due within 12 months after the reporting period. They are recognised initially at their fair
value and subsequently measured at amortised cost using the effective interest method.

1.9 Borrowings

Borrowings are initially recognised at fair value, net of transaction costs incurred. Borrowings are
subsequently measured at amortised cost. Any difference between the proceeds (net of transaction costs)
and the redemption amount is recognised in profit or loss over the period of the borrowings using the
effective interest method. Fees paid on the establishment of loan facilities are recognised as transaction
costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this
case, the fee is deferred until the draw down occurs. To the extent there is no evidence that it is probable
that some or all of the facility will be drawn down, the fee is capitalised as a prepayment for liquidity
services and amortised over the period of the facility to which it relates.

Borrowings are removed from the Balance Sheet when the obligation specified in the contract is discharged,
cancelled or expired.

Borrowings are classified as non-current liabilities unless the Company has an unconditional right to defer
settlement of the liability for at least 12 months after the reporting period.

1.10 Borrowing Cost

General and specific borrowing costs that are directly attributable to the acquisition, construction or
production of a qualifying asset are capitalised during the period of time that is required to complete and
prepare the asset for its intended use or sale. Qualifying assets are assets that necessarily take a substantial
period of time to get ready for their intended use or sale.

1.11 Income Tax

The income tax expense for the period is the tax payable on the current period''s taxable income based on
the applicable income tax rate adjusted by changes in deferred tax assets and liabilities attributable to
temporary differences, unused tax credits and to unused tax losses.

The current tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end
of the reporting period. Management periodically evaluates positions taken in tax returns with respect to
situations in which applicable tax regulation is subject to interpretation. It establishes provisions where
appropriate on the basis of amounts expected to be paid to the tax authorities.

Deferred tax is provided in full, using the liability method, on temporary differences arising between the tax
bases of assets and liabilities and their carrying amounts in the financial statements. However, deferred tax
liabilities are not recognised if they arise from the initial recognition of goodwill. Deferred tax is also not
accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business
combination that at the time of the transaction affects neither accounting profit nor taxable profit (tax loss).
Deferred tax is determined using tax rates (and laws) that have been enacted or substantially enacted by
the end of the reporting period and are expected to apply when the related deferred tax asset is realised or
the deferred tax liability is settled.

Deferred tax assets are recognised for all deductible temporary differences, carry forward of unused tax
credits and unused tax losses only if it is probable that future taxable amounts will be available to utilise
those temporary differences, tax credits and losses.

The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the
asset to be utilised.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax
assets and liabilities and when the deferred tax balances relate to the same taxation authority. Current tax
assets and liabilities are offset where the entity has a legally enforceable right to offset and intends either to
settle on a net basis, or to realise the asset and settle the liability simultaneously.

Current and deferred tax are recognised in profit or loss, except to the extent that it relates to items
recognised in other comprehensive income or directly in equity, if any. In this case, the tax is also
recognised in other comprehensive income or directly in equity, respectively.

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Mar 31, 2014

(a) Basis of Accounting

The accounts of the company are prepared under the historical cost convention and are in accordance with the applicable Accounting Standards and accordingly accrual basis of accounting is followed for recognition of Income & Expenses.

(b) Fixed Assets

The Fixed Assets are valued at cost of acquisition less accumulated depreciation.

(c) Depreciation

Depreciation of all assets are provided on "Straight Line Method" at the rate and manner prescribed in schedule XIV of the Companies Act, 1956.

(d) Tax on Income

Income Tax Expenses comprises current tax and deferred tax charge of credit.

The deferred tax charge or credit is recognized using current tax rates. When there is unabsorbed depreciation or carry forward losses, deferred tax assets are recognised only if there is virtual certainty of realisation of such assets. Deferred tax assets/liabilities are reviewed as at each balance sheet date based on developments during the year to reassess realisation/liabilities.

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Mar 31, 2013

(a) Basis of Accounting

The accounts of the company are prepared under the historical cost convention and are in accordance with the applicable Accounting Standards and accordingly accrual basis of accounting is followed for recognition of Income & Expenses.

(b) Fixed Assets

The Fixed Assets are valued at cost of acquisition less accumulated depreciation.

(c) Depreciation

Depreciation of all assets are provided on "Straight Line Method" at the rate and manner prescribed in schedule XIV of the Companies Act, 1956.

(d) Tax on Income

Income Tax Expenses comprises current tax and deferred tax charge of credit.

The deferred tax charge or credit is recognized using current tax rates. When there is unabsorbed depreciation or carry forward losses, deferred tax assets are recognized only if there is virtual certainty of realization of such assets. Deferred tax assets/liabilities are reviewed as at each balance sheet date based on developments during the year to reassess realization/liabilities.

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Mar 31, 2009

(A) System of Accounting : The Company has followed the mercantile basis of accounting.

(B) Fixed Assests : Fixed Assets are stated at cost of acquisition less accumulated depreciation.

(C) Depreciation : Depreciation on all assets are provided on" Straight Line Method" at the rate and in the manner prescribed in Schedule XIV of the Companies Act, 1956 as amended to date.

(D) Contingent Liability: Amount of contingent liabilities not provided for in the accounts Rs. NIL (Previous period Rs. Nil).

(E) Estimated amount of contract remaining to be executed on capital account and not provided for is Rs. Nil ( Previous year Rs. NIL).