Terraform Realstate Ltd. कंपली की लेखा नीति

Mar 31, 2024

C Material Accounting Policies

a) Impairment of non-financial assets

At each reporting date, the Company assesses whether there is any indication based on internal7extemal factors, that an asset may be impaired. If ary
such indication exists, the Company estimates the recoverable amount of the asset If such recoverable amount of the asset or the recoverable amount
of tne cash generating unit to wmch the asset belongs is less than its carrying amount, the canylng amount is reduced to its recoverable amount and
the reduction is treated as an impairment loss and is recognised in the statement of profit and loss. All assets are subsequently reassessed for
indications that an impairment lo&6 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 o( 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
(FVTPL). ns transaction cost are recognised in the statement of profit and loss In other cases, the transaction cost are attnbuted 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

All financial liabilities are recognised initially at fair value and transaction 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
borrowings

De-recognItJon of financial liabilities

A financial liability is de-recognised when the obligation under the liability is discharged or 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 m modification is treated as the de- recognition of the original liability and the recognition of a new liability. The difference in the respective
carrying amounts is recognised in the statement of profit and loss

c) Impairment of financial assets

In accordance with Ind AS 109. the Company applies expected credit loss (ECL) model for measurement and recognition of impairment loss for
financial assets.

ECL is the difference between all contractual cash nows that are due to the Company In accordance with 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 uf the financial assets (including prepayment and extension) over the expected life of the assets.

• Cash flows from the sole of collateral held or other credit enhancements that are Integral to Ihe contractual terms

d) 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 COCO or directly ill equity

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

Deterred 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 (uture taxable income This Is assessed based on the Company''s forecast ot future operating results, adjusted for significant non-
taxable income and expenses and specific limits on the use ot any unused tax loss or credit. Unrecognised deferred tax assets are re-assessed at
each reporting date and are recognised lo the extent that It has become probable that future toxoblc profits will allow the deferred tax asset to be
recovered.

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

e) Borrowing costs

Borrowing costs directly attnbutable lo the acquisitions, construction or production of a qualifying asset are capitalised during the period of time that is
necessary to complele and prepare the asset for Its Intended use or sale Other borrowing costs are expensed in the period in which they are Incurred
and reported in finance costs.

f) Fair value measurement

The Company measures financial instruments, at fair value at each balance sheet date

Fair value is the price tnat woulo be received lo sell an asset or paid to transfer a liability In an orderly transaction between market participants at the
measurement date The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place
either:

• In the principal market for the asset or liability, or

• In the absence of a principal market. In the most advantageous market for the asset or liability
The principal or the most advantageous market must be accessible by the Company

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability,
assuming that market participants act In their economic best interest.

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Mar 31, 2014

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.

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 recognised in the periods in which the results are known / materialised.

2) a) SEGMENT REPORTING

i) BUSINESS SEGMENT:

The Company''s main business is shares & properties. All other activities of the Company revolve around this main business. There are no separate segments within the Company as defined by AS 17 (Segment Reporting) issued by The Institute of Chartered Accountant of India.

ii) GEOGRAPHICAL SEGMENT:

There is no separate reportable geographical segment.

b) INVESTMENTS:

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

c) REVENUE RECOGNITION:

Income and Expenses are generally accounted on accrual basis.

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Mar 31, 2013

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.

b) USE OF ESTIMATES

The preparation ofthe 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 recognised in the periods in which the results are known / materialised.

2) a) SEGMENT REPORTING

i) BUSINESS SEGMENT:

The Company''s main business is shares & properties. All other activities of the Company revolve around this main business. There are no separate segments within the Company as defined by AS 17 ( Segment Reporting ) issued by The Institute of Chartered Accountant of India.

ii) GEOGRAPHICAL SEGMENT:

There is no separate reportable geographical segment.

iii) INVESTMENTS:

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

c) REVENUE RECOGNITION:

Income and Expenses are generally accounted on accrual basis.

d) ACCOUNTING FOR TAX

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

e) 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, 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.

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.

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Mar 31, 2009

(A) Basis of Accounting:-

The accounts are prepared under the historical cost convention and on the basis of going concern. All expense and income to the extent considered payable and receivable respectively , unless stated otherwise, have been accounted for on mercantile basis.

(B) Fixed Assets:-

The Fixed Assets are stated at their original cost less Depreciation. However during the year, company has W/off all the assets as the same were discrded.

(C) Depreciation.-

Depreciation is provided on written down value method in accordance with schedule XIV of the Companies Act,1956.

(D) Inventory Valuation :-

The Inventory is only plot of land which is stated at cost and direct expenses incurred.

(E) Investments:-

Investments are shown at cost.

(F) Revenue Recognition :-

Income and Expenses are generally accounted on accrual basis.

(G) Employee Benefit:-

AS 15 (revised) not applicable as Company has not employed any employee during the year.