NOTE NO. 1 : SIGNIFICANT ACCOUNTING POLICIES A Corporate Information
Brisk Technovision Limited is a Company domiciled in India and incorporated on 30th March, 2007. The Company is engaged in IT Infrastructure B Method of Accounting
The financial statements are prepared on going concern basis in accordance with Generally Accepted Accounting Principles in India (Indian GAAP) 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
C Use of Estimates
The preparation of financial statements in conformity with Generally Accepted Accounting Principles (GAAP) requires management to make D Revenue Recognition
Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.
| BRISK TECHNOVISION LTD |
| NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31,2025 |
E Accounting for Taxes on Income
a) Current Tax is measured at the amount to be paid to/recovered from the authorities, using the applicable tax rate.
b) Deferred Tax is recognised, subject to consideration of prudence in respect of deferred tax assets, on timing differences being the difference
F Property, Plant and Equipment
(i) Property Plant and Equipment (‘PPE’) and intangible assets are stated at cost, less accumulated depreciation and amortisation. Cost comprises the
(ii) Depreciation on tangible fixed assets is provided on written down value method based on the useful lives specified in Schedule II of the Companies
G Investments
Investments are classified as Non-Current and Current Investments. Non-Current Investments are stated at its cost. Investments, which are readily H Inventories
Inventories are taken at Cost or Net Realisable Value whichever is lower as certified by the Director
Net realizable value is the estimated selling price in ordinary course of business, less estimated costs of completion and estimated costs necessary to
BRISK TECHNOVISION LTD
| NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31,2025 |
I Foreign Exchange Transactions
There are no Foreign Exchange Transactions
J Provision for Tax
(i) Provision for current taxes is made considering the prevailing rates and applicable deductions/exemptions/exclusions.
(ii) Deferred tax is made for reversible timing differences between book profits and taxable income. Deferred tax asset is recognised only if virtual
K Borrowing Costs
Borrowing cost consists of interest and other costs incurred in connection with the borrowing of funds. There is no Borrowing cost attributable to L Employee Benefits
Defined Contribution plans and Short-term employee benefits are recognised as an expense at the undiscounted amount in the statement of profit and The Company accounts for the liability of future gratuity benefits based on actuarial valuation. The company has created a trust for future payment of
M Earning Per Share (EPS)
The basic earnings per equity share are computed by dividing the net profit or loss attributable to the equity shareholders for the year by the weighted Diluted EPS is computed by dividing the net profit attributable to the equity shareholders for the year by the weighted average of equity and dilutive
N Dividend Distribution
Final equity dividends on shares are recorded as a liability on the date of declaration of approval by the shareholders and Interim equity dividends O Cash and Cash Equivalents
Cash and Cash Equivalents for the purpose of cash flow statement comprise cash on hand and fixed deposits at bank including short-term highly
BRISK TECHNOVISION LTD
| NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31,2025 |
P Provisions, Contingent Liabilities & Contingent Assets
A provision is recognised when the company has a present obligation as a result of past event, it is probable that an outflow of resources embodying
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