1. A GENERAL INFORMATION:
Advance Lifestyles Limited ('ALL' or 'the Company') having CIN: L45309MH1988PLC268437 is a public limited company listed on the Bombay Stock
Exchange and incorporated under the provisions of the Companies Act, 1956 on August 18th, 1988 having its registered office at 2nd Floor, West Wing
Electric Mansion, Appasaheb Marathe Marg, Worli, Mumbai, Maharashtra, India - 400025.
The Company is incorporated with an object to carry out the business related to manufacturing and trading of various Textile items and dealing in Real
Estate properties.
The Financial Statements of the Company for the year ended March 31, 2025 are approved by the board of directors and authorised for issue on the
Date :- 27th May, 2025
1. B MATERIAL ACCOUNTING POLICIES :
1 Basis of Accounting
i) The financial statements are prepared on historical cost basis in accordance with applicable Indian Accounting Standards (Ind AS) and on
accounting principles of going concern except investments which are measured at fair values. These financial statements have been prepared to
comply with all material aspects with the Indian accounting standards notified under section 133 of the Act, (the "Act") read with Rule 7 of the
Companies (Accounts) Rules, 2014, and the other relevant provisions of the Act.
ii) Accounting policies have been consistently applied except where a newly issued IND AS is initially adopted or a revision to an existing accounting
standard requires a change in the accounting policies hitherto in use.
iii) As the quarter and year figures are taken from the source and rounded to the nearest digits, the figures already reported for all the quarters
during the year might not always add up to the year figures reported in this statement.
iv) All assets and liabilities have been classified as current or non-current as per the Company's normal operating cycle and other criteria set out in
the Schedule III to the Act. Based on the nature of products and the time between the acquisition of assets for processing and their realization in
cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current classification of assets and
liabilities.
2 Use Of Estimates
i) The preparation of financial statements in conformity with Indian Accounting Standards (Ind AS) requires judgments, estimates and assumptions
to be made that affect the reported amount of assets and liabilities, disclosure of contingent liabilities on the date of the financial statements and
the reported amount of revenues and expenses during the reporting period. Difference between the actual results and estimates are recognized in
the period in which the results are known/materialized.
3 Property, Plant & Equipments (PPE)
i) Property, Plant and Equipment are stated at original cost (net of tax/duty credit availed) less accumulated depreciation and impairment losses.
Cost includes cost of acquisition, construction and installation, taxes, duties, freight, other incidental expenses related to the acquisition, and pre¬
operative expenses including attributable borrowing costs incurred during pre-operational period.
ii) Subsequent costs are included in the assets' carrying amount or recognized as a separate asset, as appropriate, only when it is probable that
future economic benefits associated with the item will flow to the company and the cost of the item can be measured reliably. The carrying
amount of any component as a separate asset is derecognized when replaced. All other repairs and maintenance are charged to statement of
profit and loss during the reporting period in which they are incurred.
a) Land and buildings held for use in the production or supply of goods or services, or for administrative purposes, are stated in the balance sheet
at deemed cost less and accumulated depreciation. Freehold land is not depreciated.
b) Properties in the course of construction for production, supply or administrative purposes are carried at cost, less any recognised impairment
loss. Cost includes professional fees and, for qualifying assets, borrowing costs capitalised in accordance with the Company's accounting policy.
Such properties are classified to the appropriate categories of property, plant and equipment when completed and ready for intended use.
Depreciation of these assets, on the same basis as other property assets, commences when the assets are ready for their intended use.
c) Fixtures and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.
d) An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the
continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the
difference between the sales proceeds and the carrying amount of the asset and is recognised in profit or loss.
e) Subsequent expenditures related to an item of Tangible Asset are added to its book value only if they increase the future benefits from the
existing asset beyond its previously assessed standard of performance.
f) Assets which are not ready for their intended use on reporting date are carried as capital work-in-progress at cost, comprising direct cost and
related incidental expenses.
4 Intangible Assets
i) . Intangible assets acquired by payment e.g. Computer Software is disclosed at cost less amortisation on a straight-line basis over its estimated
useful life.
ii) . Intangible assets are carried at cost, net of accumulated amortisation and impairment loss, if any.
5 Capital work in progress
Expenditure related to and incurred during the implementation of the projects is included under Capital Work-in-Progress and the same are
capitalized under the appropriate heads on completion of the projects, if any.
6 Depreciation & Amortization
Depreciation for the year has been provided on the basis of useful life of assets as prescribed in schedule II to the Companies Act, 2013. The
carrying amount has been depreciated over the balance useful life of asset.
Depreciation on additions to the assets and the assets sold or disposed off, during the year is provided on prorata basis, at their respective useful
life or rate of depreciation as prescribed with reference to the date of acquisition / installation or date of sale / disposal.
Intangible assets are amortised on Straight Line Method from the date they are available for use,overthe useful lives of the assets as estimated by
the Management
7 Revenue Recognition
Revenue is primarily derived from sale of finished goods to the customers. Revenue is recognized only when risks and rewards incidental to
ownership are transferred to the customer, it can be reliably measured and it is reasonable to expect ultimate collection. Revenue from operations
includes sale of goods.
Interest income is recognized on a time proportion basis taking into account the amount outstanding and the interest rate applicable, if any.
Discount claims, rebates and retirement benefits which cannot be determined with certainty during the year, are recognized on receipt basis.
8 Investments
Investments are stated at cost, after providing provision towards diminution, other than temporary if any.
9 Valuation of Inventories
i) . The cost of inventories have been computed to include all cost of purchases, cost of conversion and other related costs incurred in bringing the
inventories to their present location and condition. The costs of Raw Materials, Stores and spare parts etc., consumed consist of purchase price
including duties and taxes (other than those subsequently recoverable by the enterprise from the taxing authorities), freight inwards and other
expenditure directly attributable to the procurement.
ii) . Stock of Raw Materials are valued at cost and of those in transit related to these items are valued at cost to date. Goods and materials in transit
are valued at actual cost incurred up to the date of balance sheet. Material and supplies held for use in the production of inventories are not
written down if the finished products in which they will be used are expected to be sold at or above cost.
iii) . Goods-in-process is valued at lower of cost or net realisable value.
iv) . Stock of Finished goods is valued at lower of cost or net realisable value.
v) . Inventories are taken as valued and certified by the management of the company.
10 Exceptional items
An ordinary item of income or expense which by its size,nature,occurrence or incidence requires a disclosure in order to improve understanding of
the performance of the Company is treated as an exceptional item in the Statement of Profit and Loss account.
11 Foreign Exchange Gain / Loss
Transactions in currencies other than the Company's functional currency (foreign currencies) are recognized at the rates of exchange prevailing at
the dates of the transactions.At the end of each reporting period,monetary items denominated in foreign currencies are translated using exchange
rate prevailing on the last day of the reporting period.
Non monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using the exchange rate at the
date of transaction.
Exchange differences on monetary items are recognized in the Statement of Profit and Loss in the period in which they arise.
12 Bo rrowing Cost
Borrowing costs include interest, amortization of ancillary costs incurred. Costs in connection with the borrowing of funds to the extent not directly
related to the acquisition of qualifying assets are charged to the Statement of Profit and Loss over the tenure of the loan. Borrowing costs,
allocated to and utilized for qualifying assets, pertaining to the period from commencement of activities relating to construction/development of
the qualifying asset upto the date of capitalization of such asset is added to the cost of the assets.
Capitalization of borrowing costs is suspended and charged to the Statement of Profit and Loss during extended periods when active development
activity on the qualifying assets is interrupted.
13 Cash Flow Statement
Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of a noncash nature, any
deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or financing
cash flows.The cash flows are segregated into operating,investing and financing activities.
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