1. Accounting Standards Compliance
The financial statements of the Company have been prepared in accordance with the
Generally Accepted Accounting Principles in India (Indian GAAP) to comply with the
Accounting Standards as prescribed under Section 133 of the Companies Act, 2013
(‘the Act’) read with Rule 7 of the Companies (Accounts) Rules, 2014, the provisions
of the Act (to the extent notified).
AS-1 Disclosure of Accounting Policies
• The accounts of the company have been prepared by following mercantile system of
accounting and recognize Statements of Income and Expenditure Account on an accrual
basis except those with significant uncertainties. However, in respect of certain
transaction such as Income Tax, Municipal or Local Tax, Sales Tax, Professional Tax,
Post assessment dues or refunds, gratuity, bonus and guarantees - warranty claims, the
account are maintained on cash basis of accounting.
• The accounts have been prepared as per historical cost convention. These costs are not
adjusted to reflect the impact of changing value in the purchasing power of money.
AS-2 Valuation of Inventories
r wl W OUTDOOR MEDIA LIMITED
• A. The stock-in-trade is valued at cost or market value whichever is lower. The stock
is physically verified by management at the year end. Further, the valuation of
inventories and quantitative details in respect of Opening Stock, Purchase & Closing
Stock is certified by the management technical personnel and the same is
incorporated in financial statement of accounts.
• Scrap is valued at net realizable value.
AS-3 Cash Flow Statements
• Cash comprises cash on hand and demand deposits with banks. Cash equivalents are
short-term balances (with an original maturity of three months or less from the date
of acquisition), highly liquid investments that are readily convertible into known
amounts of cash and which are subject to insignificant risk of changes in value.
• Cash Flow Statement is applicable to the company.
AS-4 Contingencies and events occurring after the Balance-Sheet Date.
• Company is contingently liable for providing performance guarantee of
Rs.8,26,46,789/- (PY Rs. 5,53,40,419/-).
AS-5 Net profit or loss for the period, prior period items and changes in accounting
policies.
• Significant items of Income & Expenditure which relate to prior accounting period are
accounted in the Profit and Loss account under the head “Prior Period Adjustments”
other than those occasions by events occurring during or after the close of the year and
which are treated as relatable to the current year.
AS-7 Accounting for Construction Contracts.
• This standard is not applicable to the company.
AS-8 Accounting for Research and Development
• The company has not incurred any expenditure (capital or revenue) on Research and
Development.
AS-9 Revenue Recognition
• Sale of goods
The revenue is recognised when property in the goods are transferred to the buyer
for a price or all significant risks and rewards of ownership have been transferred to
the buyer and assessee does not retain effective control of the goods transferred to a
degree usually associated with ownership.
• Income from services
Revenue is recognised when there is reasonable certainty of its ultimate collection.
The revenue is recognised when the services under the contract is completed or
substantially completed. The cost of services which are not recognised at reporting
date is carried forward to subsequent reporting period.
Sales is shown net of GST of Rs. 21,47,26,093/-
• Other income
Interest income is accounted on accrual basis. Dividend income is accounted for
when the right to receive it is established. Incomes are recognized when right to
receive is established and there exists no uncertainty with regards to ultimate
collection.
AS-10 Property, Plant and Equipment
• Fixed assets are carried at cost less accumulated depreciation and impairment losses, if
any. The cost of fixed assets comprises its purchase price (net of any trade discounts and
rebates), any import duties and other taxes (other than those subsequently recoverable
from the tax authorities), any directly attributable expenditure on making the asset ready
for its intended use, other incidental expenses and interest on borrowings attributable to
acquisition of qualifying fixed assets up to the date the asset is ready for its intended
use.
• Subsequent expenditure on fixed assets after its purchase / completion is capitalized
only if such expenditure results in an increase in the future benefits from such asset
beyond its previously assessed standard of performance
• Depreciation on all fixed asset has been provided on the written down value method at
the rates determined based on the useful life prescribed in schedule II to Companies act
2013.
AS-12 Accounting for Government Grants.
• The company did not receive any grants from Government.
AS-13 Accounting for Investments
• Long-term investments are carried individually at cost. Current investments are carried
individually, at the lower of cost and fair value. Cost of investments includes acquisition
charges such as brokerage, fees and duties.
AS-14 Accounting for amalgamation
• There were no amalgamations in the year under report
AS-15 Accounting for Employee benefits
r ’arjI a8 OllTDaOR MEDIA LIMITED
• The company’s obligation in respect of gratuity benefit scheme is calculated by
estimating the amount of future benefit that employees have earned in return for
their service in the current and prior periods and discounting that benefit to
determine its present value. The present value is determined based on actuarial
valuation by an independent actuary using the project unit credit method, which
recognizes each period of service as given rise to additional unit of employee benefit
entitlement and measures each unit separately to build up the final obligation. The
obligation is measured at the present value of the estimated future cash flows. The
discount rates used for determining the present value of the obligation under defined
benefit plan are based on the market yields on Government securities as at balance
sheet date.
• The Company has neither ascertained nor provided any liability in respect of
employee’s dues in accordance with AS-15. It accounts such liability on cash basis.
AS-16 Borrowing cost
• The borrowing cost that are directly attributable to the acquisition production and / or
construction of qualifying assets are capitalized as part of the cost of such assets up
to the date when the assets are ready for its intended use. A qualifying asset is an
asset that necessarily requires a substantial period of time to get ready for its
intended use or sale. Other borrowing costs are charged to the Profit & Loss Account.
• Borrowing cost includes commitment charges, amortised amount of discount or
premium or ancillary cost of arrangement for borrowings and finance charges.
AS-17 Segment Reporting
• This standard is applicable to the company. The company is in process of adopting
segmental reporting for its outdoor hoarding business and real estate trading.
AS-18 Related Party Disclosure:
• As required by Accounting Standard -18 on “Related Party Transaction” issued by
ICAI Companies related party Transactions entered into with key management
Personnel / Associates for the year ended on 31st March, 2025 are as follows:
AS-19 Leases
• This standard is not applicable to the company.
AS-20 Earning per Share
• Basic earnings per share are calculated by dividing the net profit or loss (after tax) for
the year attributable to equity shareholders by the weighted average number of equity
shares outstanding during the year. The weighted average number of equity shares
outstanding during the period is adjusted for events of bonus issue and share split, if
any.
AS-21 Consolidated Financial Statements
• This standard is not applicable to the company.
AS-22 Accounting for Taxes on Income
• Current tax is the amount of tax payable on the taxable income for the year as determined
in accordance with the provisions of the Income Tax Act, 1961.
• Deferred tax is recognized on timing differences, being the differences between the
taxable income and the accounting income that originate in one period and are capable
of reversal in one or more subsequent periods. Deferred tax is measured using the tax
rates and the tax laws enacted or substantively enacted as at the reporting date. Deferred
tax liabilities are recognized for all timing differences. Deferred tax assets are
recognized for timing differences of items other than unabsorbed depreciation and carry
forward losses only to the extent that reasonable certainty exists that sufficient future
taxable income will be available against which these can be realized. However, if there
are unabsorbed depreciation and carry forward of losses, deferred tax assets are
recognized only if there is virtual certainty that there will be sufficient future taxable
income available to realize the assets. Deferred tax assets and liabilities are offset if such
items relate to taxes on income levied by the same governing tax laws and the Company
has a legally enforceable right for such set off. Deferred tax assets are reviewed at each
balance sheet date for their reliability.
• The breakup of deferred tax into major components as on 31/03/2025 is as under:
AS-23 Accounting for investments in Associates in Consolidated Financial Statements
• This standard is not applicable to the company.
AS-24 Discontinuing Operations
• There has been no discontinuance of operations.
AS-25 Interim Financial Reporting
• These accounting standard is not applicable to the Company.
AS-26 Intangible Assets
• There are no intangible assets.
AS-28 Impairment of assets
• There is no Impairment of assets during the year.
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** The above figures are Inclusive of goods and services tax except provision for
Audit fees.
2. Use of Estimates:
The preparation of the financial statements in conformity with Indian GAAP requires
the Management 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 / materialize.
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