Timescan Logistics (India) Ltd. कंपली की लेखा नीति

Mar 31, 2025

2 Significant Accounting Policies

2.1 Use of estimates

The Preparation of financial statements in conformity with Indian GAAP requires management
to make judgements, estimates and assumptions that affect the reported amount of revenues,

expenses, assets and liabilities and the disclosure of contingent liabilities, at the end of
reporting period. Although, these estimates are based upon managements best knowledge
of current event and actions, uncertainty about these assumptions and estimates could
result in the outcomes requiring a material adjustment to carrying amount of assets or
liabilities in future period.

2.2 Plant Property & Equipments

a) Property, Plant & Equipment are stated in the Balance Sheet at Cost. Cost Comprises the
Purchase price and attributable cost of bringing the asset to its present working condition
for its intended use. GST and other applicable taxes paid on acquisition of property, plant
& Equipment are capitalised to the extent not available / utilizable as input tax credit under
GST or other relevant law in force. Expenditure incurred on renovation and mordernization
of Property, Plant & Equipment on completion of originally estimated useful life resulting
in increased life and/or efficiency of an existing asset, is added to cost of asset. The cost
of replacing the part is recoginsed when cost is incurred if the recognition are met. The
carrying value of those parts that are replaced are derecognized in accordance with de¬
recognition principle.

2.3 Investments

Investments 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 Non-current
investments. Current investments are carried at lower of cost or market value whichever is
lower. Long-term Investments are carried at cost. However, the provision for diminution in
value is made to recognize a decline other than temporary in the value of investment. Cost
of investment includes acquisition charges such as brokerage, fees and duties. Provisions
are made to recognise any reduction in the carrying value of Non-current investment and
any reversal of such is credited to statement of Profit and Loss.

2.4 Revenue Recogonition

Revenue is recognized when the significant risks and rewards of ownership have been
transferred to the buyer ,where it is probable that the economic benefits will flow to the
Company and the revenue can be reliably measured, the associated costs and possible
return of goods can be estimated reliably, regardless of when the payment is being
made.

a) Freight Charges

Revenue from transport of goods are recognized at the time when services are performed
and there exists reasonable certainty of ultimate collection of service consideration. Sales
are exclusive of taxes and duties wherever applicable, and net of claims and discount.

b) Dividend

Dividend is recognized when the shareholder''s right to receive payment is established
by the balance sheet date.

c) Interest

Interest income is recognized on a time proportion basis taking into account the amount
outstanding and the rate applicable.

d) Sale of Fixed Assets

For movable fixed assets: Revenue is recognized upon delivery of movable fixed assets,
which is when title passes to the Purchaser.

For non-movable fixed assets: Revenue is recognized upon registration and handing
over possession, which is when title passes to the Purchaser.

2.5 Borrowing Cost

Borrowing costs are directly attributable to the acquisition, construction or production of
an asset that necessarily takes as a substantial period of time to get ready for its intended
use or sale are capitalised as part of the cost of asset. All other borrowing cost are expensed
in period in which they occur.

2.6. Income Tax

a) Current tax

Provision for current tax are made in terms of provisions of the Income Tax Act, 1961 after
taking into considerations, if any the deductions and exemptions provided therein.

b) Deferred Tax

Deferred tax on account of timing difference between taxable and accounting income
is provided considering the tax rates and tax laws enacted or substantively enacted by
Balance sheet date, the deferred tax asset / liabilities are recognized and carried forward
only to the extent that there is a reasonable certainty that the assets/ liability will be
realized in future. Deferred tax assets/ liability are reviewed at each Balance Sheet date
and written down or written up to reflect the amount that is reasonably / virtually certain,
as the case may be, to be realized.

2.7. Foreign exchange transaction

Foreign currency transactions are recorded on initial recognition in the reporting currency,
using the exchange rate at the date of the transaction. The difference on account of
fluctuation in the rate of exchange prevailing on the date of transaction and the date of
realization is charged to the statement of profit & loss. Differences on translation of current
asset and current liabilities remaining unsettled at the year end are recognized in the
statement of profit & loss.

2.8. Employee benefits

Employee benefits include provident fund, employees state insurance scheme, gratuity
and compensated absences.

Defined contribution plans:

Contributions in respect of Employees Provident Fund and Pension Fund which are defined

contribution schemes, are made to a fund administered and managed by the Government
of India and are charged as an expense based on the amount of contribution required to
be made and when services are rendered by the employees.

Company''s contribution to Provident Fund and other Funds for the year is accounted on
accrual basis and charged to the Statement of Profit & loss for the year.

Defined Benefit plans:

The eligible employees of the Company are entitled to receive post-employment benefits
in respect of gratuity in accordance with Payment of Gratuity Act, 1972. The Company has
made provision for the same in the financial statements for the year ended on 31st March
2025 on the basis of actuarial valuation made by an independent actuary as at the balance
sheet date based on projected unit credit method.

2.9. Leases

A lease is defined as ''a contract, or part of a contract, that conveys the right to use of
an asset (the underlying asset) for a period of time in exchange for consideration! The
assessment of the lease is based on several factors, including, but not limited to, transfer of
ownership of leased asset at end of lease term, lessee''s option to extend/purchase etc. The
accounting of lease is dependent upon the type of lease contract entered by the company,
i.e., operating lease or financing lease. The effect of relevant elements are recognized
considering the relevant accounting standard, i.e. AS 19: Leases.

2.10. Inventories

The Company does not have any inventories.

2.11. Impairments

The Company assesses at each balance sheet date whether there is any indication that an
asset may be impaired. If any such indication exists, the company estimates the recoverable
amount of such asset. If such recoverable amount of the asset or recoverable amount of
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
impairment loss and is recognized in the Statement of Profit and Loss.

---

Mar 31, 2024

2 Significant Accounting Policies

2.1 Use of estimates

The Preparation of financial statements in conformity with Indian GAAP requires

management to make judgements, estimates and assumptions that affect the
reported amount of revenues, expenses, assets and liabilities and the disclosure of
contingent liabilities, at the end of reporting period. Although, these estimates are
based upon managements best knowledge of current event and actions, uncertainty
about these assumptions and estimates could result in the outcomes requiring a
material adjustment to carrying amount of assets or liabilities in future period.

2.2 Plant Property & Equipments

a) Property, Plant & Equipment are stated in the Balance Sheet at Cost. Cost Comprises
the Purchase price and attributable cost of bringing the asset to its present working
condition for its intended use. GST and other applicable taxes paid on acquisition
of property, plant & Equipment are capitalised to the extent not available / utilizable
as input tax credit under GST or other relevant law in force. Expenditure incurred
on renovation and mordernization of Property, Plant & Equipment on completion
of originally estimated useful life resulting in increased life and/or efficiency of an
existing asset, is added to cost of asset. The cost of replacing the part is recoginsed
when cost is incurred if the recognition are met. The carrying value of those parts
that are replaced are derecognized in accordance with de-recognition principle.

2.3 Investments

Investments 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
Non-current investments. Current investments are carried at lower of cost or market
value whichever is lower. Long-term Investments are carried at cost. However, the
provision for diminution in value is made to recognize a decline other than temporary
in the value of investment. Cost of investment includes acquisition charges such as
brokerage, fees and duties. Provisions are made to recognise any reduction in the
carrying value of Non-current investment and any reversal of such is credited to
statement of Profit and Loss.

2.4 Revenue Recogonition

Revenue is recognized when the significant risks and rewards of ownership have
been transferred to the buyer ,where it is probable that the economic benefits will
flow to the Company and the revenue can be reliably measured, the associated
costs and possible return of goods can be estimated reliably, regardless of when
the payment is being made.

a) Freight Charges

Revenue from transport of goods are recognized at the time when services are
performed and there exists reasonable certainty of ultimate collection of service
consideration. Sales are exclusive of taxes and duties wherever applicable, and
net of claims and discount.

b) Dividend

Dividend is recognized when the shareholder''s right to receive payment is
established by the balance sheet date.

c) Interest

Interest income is recognized on a time proportion basis taking into account the
amount outstanding and the rate applicable.

d) Sale of Fixed Assets

For movable fixed assets: Revenue is recognized upon delivery of movable fixed
assets, which is when title passes to the Purchaser.

For non-movable fixed assets: Revenue is recognized upon registration and
handing over possession, which is when title passes to the Purchaser.

2.5 Borrowing Cost

Borrowing costs are directly attributable to the acquisition, construction or production
of an asset that necessarily takes as a substantial period of time to get ready for its
intended use or sale are capitalised as part of the cost of asset. All other borrowing
cost are expensed in period in which they occur.

2.6. Income Tax

a) Current tax

Provision for current tax are made in terms of provisions of the Income Tax Act, 1961
after taking into considerations, if any the deductions and exemptions provided
therein.

b) Deferred Tax

Deferred tax on account of timing difference between taxable and accounting
income is provided considering the tax rates and tax laws enacted or substantively
enacted by Balance sheet date, the deferred tax asset / liabilities are recognized
and carried forward only to the extent that there is a reasonable certainty that the
assets/ liability will be realized in future. Deferred tax assets/ liability are reviewed
at each Balance Sheet date and written down or written up to reflect the amount
that is reasonably / virtually certain, as the case may be, to be realized.

2.7. Foreign exchange transaction

Foreign currency transactions are recorded on initial recognition in the reporting
currency, using the exchange rate at the date of the transaction. The difference on
account of fluctuation in the rate of exchange prevailing on the date of transaction
and the date of realization is charged to the statement of profit & loss. Differences
on translation of current asset and current liabilities remaining unsettled at the
year end are recognized in the statement of profit & loss.

2.8. Employee benefits

Employee benefits include provident fund, employees state insurance scheme,
gratuity and compensated absences..

Defined contribution plans:

Contributions in respect of Employees Provident Fund and Pension Fund which are
defined contribution schemes, are made to a fund administered and managed by
the Government of India and are charged as an expense based on the amount of
contribution required to be made and when services are rendered by the employees.

Company''s contribution to Provident Fund and other Funds for the year is accounted
on accrual basis and charged to the Statement of Profit & loss for the year.

Defined Benefit plans:

The eligible employees of the Company are entitled to receive post-employment
benefits in respect of gratuity in accordance with Payment of Gratuity Act, 1972.
The Company has made provision for the same in the financial statements for the
year ended on 31st March 2024 on the basis of actuarial valuation made by an
independent actuary as at the balance sheet date based on projected unit credit
method.

2.9. Leases

A lease is defined as ''a contract, or part of a contract, that conveys the right
to use of an asset (the underlying asset) for a period of time in exchange for
consideration''. The assessment of the lease is based on several factors, including,
but not limited to, transfer of ownership of leased asset at end of lease term,
lessee''s option to extend/purchase etc. The accounting of lease is dependent
upon the type of lease contract entered by the company, i.e., operating lease or
financing lease. The effect of relevant elements are recognized considering the
relevant accounting standard, i.e. AS 19: Leases.

2.10. Inventories

The Company does not have any inventories.

2.11. Impairments

The Company assesses at each balance sheet date whether there is any indication
that an asset may be impaired. If any such indication exists, the company estimates
the recoverable amount of such asset. If such recoverable amount of the asset
or recoverable amount of 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 impairment loss and is recognized in the
Statement of Profit and Loss.

---

Mar 31, 2023

Significant Accounting Policies

2.1 Use of estimates

The Preparation of financial statements in conformity with Indian GAAP requires
management to make judgements, estimates and assumptions that affect the reported
amount of revenues, expenses, assets and liabilities and the disclosure of contingent
liabilities, at the end of reporting period. Although, these estimates are based upon

managements best knowledge of current event and actions, uncertainty about these
assumptions and estimates could result in the outcomes requiring a material adjustment
to carrying amount of assets or liabilities in future period.

2.2 Plant Property & Equipments

a) Property, Plant & Equipment are stated in the Balance Sheet at Cost. Cost Comprises the
Purchase price and attributable cost of bringing the asset to its present working condition
for its intended use. GST and other applicable taxes paid on acquisition of property, plant &
Equipment are capitalised to the extent not available / utilisable as input tax credit under
GST or other relevant law in force. Expenditure incurred on renovation and modernisation
of Property, Plant & Equipment on completion of originally estimated useful life resulting
in increased life and/or efficiency of an existing asset, is added to cost of asset. The cost
of replacing the part is recognised when cost is incurred if the recognition are met. The
carrying value of those parts that are replaced are de-recognised in accordance with
de-recognition principle.

Depreciation on Tangible assets has been provided on the Straight line method at
estimated useful life prescribed in Schedule II to the Companies Act, 2013.

2.3 Investments

Investments 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 Non
current investments. Current investments are carried at lower of cost or market value
whichever is lower. Long-term Investments are carried at cost. However, the provision
for diminution in value is made to recognize a decline other than temporary in the value
of investment. Cost of investment includes acquisition charges such as brokerage, fees
and duties. Provisions are made to recognise any reduction in the carrying value of Non
current investment and any reversal of such is credited to statement of Profit and Loss.

2.4 Revenue Recogonition

Revenue is recognised when the significant risks and rewards of ownership have been
transferred to the buyer ,where it is probable that the economic benefits will flow to the
Company and the revenue can be reliably measured, the associated costs and possible
return of goods can be estimated reliably, regardless of when the payment is being
made.

a) Freight Charges

Revenue from transport of goods are recognized at the time when services are performed
and there exists reasonable certainty of ultimate collection of service consideration.
Sales are exclusive of taxes and duties wherever applicable, and net of claims and
discount.

b) Dividend

Dividend is recognized when the shareholder''s right to receive payment is established
by the balance sheet date.

c) Interest

Interest income is recognized on a time proportion basis taking into account the amount
outstanding and the rate applicable.

d) Sale of Fixed Assets

For movable fixed assets: Revenue is recognized upon delivery of movable fixed
assets, which is when title passess to the Purchaser.

For non movable fixed assets: Revenue is recognized upon registration and handing
over possession, which is when title passess to the Purchaser.

2.5 Borrowing Cost

Borrowing costs are directly attributable to the acquisition, construction or production
of an asset that necessarily takes as a substantial period of time to get ready for its
intended use or sale are capitalised as part of the cost of asset. All other borrowing cost
are expensed in period in which they occur.

2.6. Income Tax

a) Current tax

Provision for current tax are made in terms of provisions of the Income Tax Act, 1961 after
taking into considerations, if any the deductions and exemptions provided therein.

b) Deferred Tax

Deferred tax on account of timing difference between taxable and accounting income
is provided considering the tax rates and tax laws enacted or substantively enacted
by Balance sheet date, the deferred tax asset / liabilities are recognized and carried
forward only to the extent that there is a reasonable certainty that the assets/ liability
will be realized in future. Deferred tax assets/ liability are reviewed at each Balance
Sheet date and written down or written up to reflect the amount that is reasonably /
virtually certain, as the case may be, to be realized.

2.7. Foreign exchange transaction

Foreign currency transactions are recorded on initial recognition in the reporting
currency, using the exchange rate at the date of the transaction. The difference on
account of fluctuation in the rate of exchange prevailing on the date of transaction
and the date of realization is charged to the statement of profit & loss. Differences on
translation of current asset and current liabilities remaining unsettled at the year end
are recognized in the statement of profit & loss.

2.8. Employee benefits

Employee benefits include provident fund, employees state insurance scheme, gratuity
and compensated absences.

Defined contribution plans:

Contributions in respect of Employees Provident Fund and Pension Fund which are

defined contribution schemes, are made to a fund administered and managed by
the Government of India and are charged as an expense based on the amount of
contribution required to be made and when services are rendered by the employees.

Company''s contribution to Provident Fund and other Funds for the year is accounted on
accrual basis and charged to the Statement of Profit & loss for the year.

Defined Benefit plans:

The eligible employees of the Company are entitled to receive post-employment
benefits in respect of gratuity in accordance with Payment of Gratuity Act, 1972. The
Company has made provision for the same in the financial statements for the year
ended on 31st March 2023 on the basis of actuarial valuation made by an independent
actuary as at the balance sheet date based on projected unit credit method.

2.9. Leases

A lease is defined as ''a contract, or part of a contract, that conveys the right to use
of an asset (the underlying asset) for a period of time in exchange for consideration''.
The assessment of the lease is based on several factors, including, but not limited to,
transfer of ownership of leased asset at end of lease term, lessee''s option to extend/
purchase etc. The accounting of lease is dependent upon the type of lease contract
entered by the company, i.e., operating lease or financing lease. The effect of relevant
elements are recognized considering the relevant accounting standard, i.e. AS 19:
Leases.

2.10. Inventories

The Company does not have any inventories.

2.11. Impairments

The Company assesses at each balance sheet date whether there is any indication
that an asset may be impaired. If any such indication exists, the company estimates
the recoverable amount of such asset. If such recoverable amount of the asset or
recoverable amount of 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 impairment loss and is recognized in the Statement of Profit
and Loss.