Terraform Magnum Ltd. कंपली की लेखा नीति

Mar 31, 2024

C MATERIAL ACCOUNTING POLICIES

a) Impairment of non-financlal assets

At each reporting date, the Company assesses whether there is any indication based on mtemal/extemal factors, that an asset may be impaired
If any such indication exists, the Company estimates the recoverable amount of the asset 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 and the reduction is treated as an impairment loss and is recogn.sed in the statement of profit and loss. All assets are
subsequently reassessed for indications that an impairment loss previously recognised may no longer exist. An impairment loss is reversed if
the asset’s or cash-generating unit''s recoverable amount exceeds its carrying amount.

The impairrment losses and reversals are recognised in statement of profit and loss

b) Financial instruments
Financial assets

Initial recognition and measurement

Financial assets are recognised when the Company becomes a party to the contractual provisions of the instrument.

Subsequent measurement

On initial recognition, a financial asset is recognised at fair value, in case of Financial assets which are recognised at fair value through profit
and loss (FVTHL), its transaction cost are recognised in the statement of profit and loss. In other cases, the transaction cost are attributed to the
acquisition value of the financial asset.

Financial assets are subsequently classified as measured at

• amortised cost

• fair value through profit and loss (FVTPL).

• fair value through other comprehensive income (FVOCI)

Financial assets are not reclassified subsequent to their recognition, except if and in the period the Company changes its business model for
managing financial assets.

Financial liabilities

Initial recognition and measurement

''''abilities are recognised initially at fair value and transact.on cost that is attributable to the acquisition of the financial liabilities is also
adjusted These liabilities are classified as amortised cost.

Subsequent measurement

Subsequent to initial recognition, these liabilities are measured at amortised cost using the effective interest method. These liabilities include
De-recognition of financial liabilities

filifS k^S f''rT^iSei^When °j^>,i9at,°^{n Under the nabii,ty ,S dischar}9^ed °^r cancelled or expires When an existing financial
liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified
such an exchange or modification is treated as the de- recognibon of the original liability and the recognition of a new liability The difference in
the respective carry.ng amounts is recognised in the statement of profit and loss. ainerence in

c) Impairment of financial assets

fin^|^dasⁿs“s^W"^{n ln''thS C°mPany aPP"eS eXPeC,ed Cfed*l0SS (ECL) m°°el f0r measurement a"d r®cogni(ion of impa.rment loss for}

ECUs ihe difference between all contractual cash flows that are due to the Company in accordance wrth the contract and all the cash flows that
the Company expects to receive When estimating the cash flows, the Company is required to consider -

• All contractual terms of the financial assets (including prepayment and extension) over the expected life of the assets

• Cash fiows from the sale of collateral held or other credit enhancements that are integral to the contractual terms
Trade receivables

Other financial assets

For recognition of impairment loss on other financial assets and risk exposure, the Company determines whether there has been a significant
increase in the credit risk since initial recognition and if credit risk has increased significantly, impairment loss is provided

d) Inventories

Inventory comprises property that is held for sale in the ordinary course of business Principally these are properties that the company develops
and intends to sell before or on completion of construction

e} Income taxes :

Tax expense recognised in statement of profit and loss comprises the sum of deferred tax and current tax not recognised in Other Comprehensive
income (‘OCI'') or directly In equity.

Current income-tax is measured at the amount expected to be paid to the tax authorities in accordance with Ihe Indian Income-tax Act. Current
income-tax relating to items recognised outside statement of profit and loss is recognised outside statement of profit and loss (either in OCI or in
equity)

Deferred income-tax is calculated using the liability method. Deferred tax liabilities are generally recognised in full for all taxable temporary
differences. Deferred tax assets are recognised to the extent that it is probable that the underlying tax loss, unused tax credits or deductible
temporary difference will be utilised against future taxable income This is assessed based on the Company''s forecast of future operating results.
adfiSted for significant norvtaxable income and expenses and specific limits on the use of any unused tax loss or credit. Unrecognised deferred
tax assets are re-assessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will
allow the deferred tax asset to be recovered

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is
settled, Dased on tax rates (and tax laws) that have boon enacted or substantively enacted at the reporting date Deferred tax relating to items
recognised outside statement of profit and loss is recognised outside statement of profit and loss (either in OCI or in equity)

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Mar 31, 2014

I) a) BASIS OF PREPARATION

The Financial statements are prepared under historical cost convention and on accrual basis and are in accordance with the generally accepted accounting principles in India and the provisions of the Companies Act,1956. except dividend and interest on securities which are accounted as and when received.

b) USE OF ESTIMATES

The preparation of the financial statements in conformity with Indian GAAP requires that the management of the company to moke estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year, The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences between the actual results and the estimates are recognized in the periods in which the results are known / materialized.

c) INVESTMENTS:-

Investments are stated at cost in case of investment in Shares, Debentures and Securities.

c) The Company has not paid or provided interest on unsecured loan from Directors as the same are interest free loans.

d) In past, some of the shares belonging to the Company were given to the share-broker who misappropriated the same. Necessary actions are taken by the Directors with appropriate Authorities. His also stated that some of the Shares are not transferred by the Purchasers. In respect of some oftheshares the records are under compilation. The Shares are in the name of V. Dinesh Traders Ltd., the former name of the company. Accordingly dividends if received the same is not credited in company''s account. The lass /damage, if any, due to these discrepancies are not provided in the account.

e) ACCOUNTING FOR TAX

Current Tax is accounted on the basis of estimated taxable income for rite current accounting year and in accordance with the provision of Income Tax Act, 1961.

I) DISCLOSURES SPECIFIED BY THE MSMED ACT

As per the information available with the company there are no Micro, Small and Medium Enterprises as defined under the "Micro, Small and Medium Enterprises Development Act, 2006", and hence not reported.

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Mar 31, 2013

A) BASIS OF PREPARATION

The Financial statements are prepared under historical cost convention mid on accrual basis and are in accordance with the generally accepted accounting principles in India and the provisions of the Companies Act,1956. except dividend and interest on securities which are accounted as and when received,

b) USE OF ESTIMATES

The preparation oftlie financial statements in conformity with Indian GAAP requires that the management of the company to make estimates and assumptions considered in (he reported amounts of assets and liabilities (including contingent liabilities} and the reported income and expenses during the year. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences between the actual results and the estimates are recognized in the periods in which the results are known / materialized.

c) INVESTMENTS:-

Investments are stated at cost in case of investment in Shares, Debentures and Securities.

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Mar 31, 2012

1) a) BASIS OF PREPARATION

The Financial statements are prepared under historical cost convention and on accrual basis and are in accordance with the generally accepted accounting principles in India and the provisions of the Companies Act, 1956, except dividend and interest on securities which are accounted as when received.

b) USE OF ESTIMATES

The preparation of the financial statements in conformity with Indian GAAP requires that the management of the company to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences between the actual results and the estimates are recognized in the periods in which the results are known/materialized.

c) INVESTMENTS:

Investments are stated at cost in case of investment in Shares. Debentures and Securities.

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Mar 31, 2009

Not Available