NOTE 1 : SIGNIFICANT ACCOUNTING POLICIES
1 (a) METHOD OF ACCOUNTING
The financial Statements prepared under the Historical Cost Convention on the Basis of going concern and as per
applicable accounting standards. The company follows mercantile system of accounting and recognizes income and
expenditure on accrual basis unless stated otherwise hereunder.
(b) FIXED ASSETS
Fixed Assets are stated at cost less depreciation and the deprecation is charged as per Companies Act, 2013
(c) DEPRECIATION
The company provides depreciation on its fixed assets on Written Down Value on the basis of life specified in
Schedule II of the Companies Act, 2013 as from the day of purchase.
(d) INVESTMENT
Investments are stated at cost and accounting is as per AS-13 issued by ICAI.
(e) INVENTORIES
Inventories are valued at Lower of Cost or Net Realizable Value. Cost of Inventories comprise all costs of purchase, costs
of conversion and other costs incurred in bringing the inventories to their present location and condition.
(f) REVENUE RECOGNITION
Revenue is recognized when it is earned and no significant uncertainty exists as to its realization or collection. Benefit
under the Import and Export Policy in respect of entitlement, has been accounted in the year of export on the basis of
estimation.
(g) INCOME TAXES
Income Taxes are accounted for in accordance with Accounting Standard 22 "Accounting for Taxes on Income ". Taxes
Comprise both current and deferred tax. Current Tax is Measured at the amount expected to be paid / recovered
from the revenue authorities ,using the applicable tax rates and tax laws.
The tax effect on the timing differences that result between taxable income and accounting income and are capable of
reversal in one or more subsequent periods are recorded as a deferred tax asset or a deferred tax liability. They are
measured using the substantively enacted tax rates and tax laws.
The carrying amount of MAT credit and deferred tax assets at each balance sheet date is reduced to the extent that it
is no longer reasonably certain that sufficient future taxable income will be available against which the asset can be
realized.
(h) EARNINGS PER SHARE
The Company reports basic and diluted earnings per share (EPS) in accordance with Accounting Standard 20 " Earnings
Per Share ".
Basic EPS is computed by dividing the net profit or loss for the year attributable to equity share-holders by the weighted
average number of equity shares outstanding during the year.
Diluted EPS is computed by dividing the net profit or loss during the year attributable to equity shareholders
by the weighted average number of equity shares outstanding during the years as adjusted for the effects of all dilutive
potential equity shares, except where the results are anti-dilutive.
(i) DEPRECIATION
Depreciation on tangible assets is provided on the WDV method over the useful lives of assets estimated by the
Management and as per the Schedule II of The Companies Act, 2013. Depreciation for assets purchased / sold
during a period is proportionately charged.
(j) ROUNDING OFF AND RECLASSIFICATION
Figures of the current period have been rounded off to the nearest in Rupees. The figures of previous year have
been reclassified, regrouped & rearranged to make them comparable with the current year's figure to comply with the
requirement of Revised Schedule VI.
* Negative Amount Represents Provision for Doubtful Debt
For PSV JAIN & ASSOCIATES On behalf of the Board of Director
(CHARTERED ACCOUNTANTS) For ALKA SECURITIES LTD
FRN:131505W
DULARESH KUMAR JAIN Sonal Anil Vichare Sagar Ashok Rane
PARTNER Director Director
M. No 137264 DIN:09372274 DIN: 09022218
Date: 30th May, 2024 Place: Mumbai Place: Mumbai
UDIN: 24137264BKCDDH1340 Date: 30th May, 2024 Date: 30th May, 2024
Place: Mumbai
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