1. Company Overview

Orient Tradelink Limited ('the Company') was incorporated in India on 20 August, 1994.

2. Significant Accounting Policies

2.1 Basis of Preparation of Financial Statements

The Financial Statements have been prepared by following the going concern concept on historical cost convention and in accordance with the accounting specified under Section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014 (as amended).

All assets and liabilities have been classified as current and non-current, wherever applicable as per company normal operating cycle based on the nature of product and the time between the acquisition of assets for processing and there realization in cash and cash equivalent and as per the guidance as set out in the Schedule III of the Companies Act, 2013

The Company follows mercantile system of accounting and recognizes items of income and expenditure on accrual basis.

2.2 Use of Estimation

The preparation of financial statements required management to make estimations & assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period. Although these estimates are based upon management's best knowledge of current events and actions, actual results could differ from these estimates.

2.3 Fixed Assets

Fixed assets including intangible assets are stated at cost less accumulated depreciation and impairment losses if any. Cost comprises the purchase price and any directly attributable cost of bringing the asset to its working condition for its intended use.

2.4 Depreciation & Amortization

Depreciation has been provided on written down value basis, at the rate determined with reference to the useful lives specified in Schedule II of the Companies Act, 2013. The impact of the change in useful life of fixed assets has been considered in accordance with the provision of Schedule III.

Depreciation on assets, whose actual cost does not exceed five thousand rupees is provided at the rate of hundred percent on pro-rate basis.

2.5 Borrowing costs

Borrowing costs that are attributable to the acquisition and/or construction of qualifying assets are capitalized as part of the cost of such assets, in accordance with notified Ind AS 23 "Borrowing Costs". A qualifying asset is one that necessarily takes a substantial period of time to get ready for its intended use. All other borrowing costs are treated as period cost and charged to the statement of profit and loss in the year in which incurred.

2.6 Impairment of assets

The Company assesses at each balance sheet date whether there is any indication that an asset may be impaired. If any such indication exists, it estimates the recoverable amount of the asset. If such recoverable amount of the asset or the recoverable amount of the cash-generating unit to which the asset belongs is less than its carrying amount, the carrying amount is reduced to its recoverable amount. The reduction is treated as an impairment loss and is recognized in the statement of profit and loss.

2.7 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 long term investments. Current investments are carried at lower of cost or fair value determined on an individual investment basis. Long term investments are carried at cost.

2.8 Inventories

• Stock in Trade is valued at cost, which is determined on the basis of the 'First in First out' method.

2.9 Revenue Recognition

Revenue is recognized to the extent it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.

i. Sale of Goods

Revenue is recognized and earned when they are realized or realizable irrespective of when the cash is received.

2.10 Retirement benefits

Expenses and liability in respect of employee benefits are recorded in accordance with Ind AS 19-Employee Benefits (Revised 2005)

Provident fund

The Company does makes contribution to statutory provident funds with Employees Provident Fund and Miscellaneous Provision Act, 1952 which is a defined contribution plan and contributions paid or payable are recognized as an expense in the year in which services are rendered by the employee.

Other short term benefits

Expense in respect of other short term benefits is recognized on the basis of the amount payable for the period during which services are rendered by the employee.

2.11 Taxation

Tax liability is estimated considering the provisions of the Income Tax Act, 1961. Deferred tax is recognized on timing differences being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. On prudent basis, deferred tax is recognized on account of depreciation and carried forward to the extent only when there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

2.12 Leases

Lease arrangements where the risk and rewards incident to ownership of an asset substantially vest with the lessor are recognized as operating lease. Lease rent under operating leases are charged to profit and Loss on a straight line basis over the lease term.

2.13 Cash and Cash equivalents

Cash and cash equivalents comprise cash in hand, demand deposits with bank and short term highly investments that are readily convertible into cash and are subjects to an insignificant risk of change in value.

2.14 Provisions, Contingent Liabilities and Contingent Assets

Depending upon the facts of each case and after due evaluation of legal aspect, claims against the company are accounted for as either provisions or disclosed as contingent liabilities. In respect of statutory dues disputed and contested by the company, contingent liabilities are provided for and disclosed as per original demand. The Company makes a provision when there is a present obligation as a result of a past event where the outflow of economic resources is probably not require outflow of resources or where the same cannot be reliably estimated, is disclosed as contingent liability in the financial statements.

2.15 Earnings Per Share

(In item of Ind AS 33)

Basic Earnings per Share is computed and disclosed using the weighted average number of shares outstanding during the year. There being no potential equity shares Diluted Earnings per Share has not been computed.

23 Balances of trade receivables, trade payables, current/non-current advances given/ received are subject to reconciliation and confirmation from respective parties.

The balance of said trade receivables, trade payables, current / non-current advances given/ received are taken as shown by the books of accounts. The ultimate outcome of such reconciliation and confirmation cannot presently be determined, therefore, no provision for any liability that may result out of such reconciliation and confirmation has been made in the financial statement, the financial impact of which is unascertainable due to the reasons as above stated.

24 Inventories, loans & advances, trade receivables and other current / non-current assets are in the opinion of the management do not have a value on realization in the ordinary course of business, less than the amount at which they are stated in the balance sheet. The classification of assets and liabilities between current and non-current have been made based on management perception as to its recoverability / settlement and other criteria as set out in the revised schedule III to the Companies Act, 2013.

26 Segment Reporting

The company is primarily engaged in the business of real estate development, which after evaluation of Ind AS- 108 on "Segment Reporting", issued by the Institute of Chartered Accountants of India, is considered to be the only reportable business segment. In addition, the company is operating in India which is considered as a single geographical segment.

27 Based on the information available with the company, there are no dues outstanding in respect of Micro, Small and Medium enterprises at the balance sheet date. No amounts were payable to such enterprises which were outstanding for more than 45 days. Further, no interest during the year has been paid payable in respect thereof. The above disclosure has been determined to the extent such parties have been indentified on the basis of information available with the Company. This has relied upon by the auditors.

28 Company has prepared financial statements for the financial year as per the provisions of Schedule III of The Companies Act, 2013.

29 The company has regrouped / reclassified previous year figures where necessary to conform to with current year's classification.

30 Based on the information available with the company, there are no dues outstanding in respect of Micro, Small and Medium enterprises at the balance sheet date. No amounts were payable to such enterprises which were outstanding for more than 45 days. Further, no interest during the year has been paid payable in respect thereof. The above disclosure has been determined to the extent such parties have been indentified on the basis of information available with the Company. This has relied upon by the auditors.

31 Company has prepared financial statements for the financial year as per the provisions of Schedule III of The Companies Act, 2013.

32 The company has regrouped / reclassified previous year figures where necessary to conform to with current year's classification.