1.0 CORPORATE INFORMATION:
SHREESHAY ENGINEERS LTD is a Limited Company, incorporated under the provisions
of Companies Act, 1956 and having CIN: L67190MH1995PLC087145. The Company deal
in only one segment and same is contractor for real estate (contractor for building). The
Company is a public limited company incorporated and domiciled in India. The address of the
office is Shop No. F-04, 1st floor, Eternity Mall, Naupada, Teen Haath Naka, LBS Marg,
Wagle I.E., Thane, Thane, Maharashtra, India, 400604.
1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
a. Accounting Convention: -
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 notified under the Companies (Accounting Standards) Rules, 2006 (as
amended) and the relevant provisions of the Companies Act, 2013. In applying the
Accounting Policies, considerations have been given to prudence, substance over form and
Materiality. The financial statements have been prepared on accrual basis under the historical
cost convention. The accounting policies adopted in the preparation of the financial
statements are consistent with those followed in the previous year.
b. Functional and Presentation Currency
The functional and presentation currency of the company is Indian rupees. This financial
statement is presented in Indian rupees.
All amounts disclosed in the financial statements and notes are rounded off to lakhs the
nearest INR rupee in compliance with Schedule III of the Act, unless otherwise stated. Due to
rounding off, the numbers presented throughout the document may not add up precisely to the
totals and percentages may not precisely reflect the absolute figures.
c. Current versus Non-Current Classification
The Company presents assets and liabilities in the Balance Sheet based on current/ non¬
current classification.
An asset / liability is treated as current when it is: -
i. Expected to be realized or intended to be sold or consumed or settled in normal
operating cycle.
ii. Held primarily for the purpose of trading.
iii. Expected to be realized / settled within twelve months after the reporting period, or.
iv. Cash or cash equivalent unless restricted from being exchanged or used to settle a
liability for at least twelve months after the reporting period.
v. There is no unconditional right to defer the settlement of the liability for at least
twelve months after the reporting period.
All other assets and liabilities are classified as non-current. Deferred tax assets and liabilities
are classified as non-current assets and liabilities respectively.
1.2 ACCOUNTING POLICIES:
(A) Segment Reporting
Operating segments are reported in a manner consistent with the internal reporting provided to Chief
Operating Decision Maker (CODM).
The Company has identified its Managing Director as CODM who is responsible for allocating
resources and assessing performance of the operating segments and makes strategic decisions.
The Company is operating in single business segments i.e. various oil seeds. Hence, reporting
requirement of Segment reporting is not arisen.
(B) Statement of Cashflow
Cash Flows of the Group 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 from operating, investing and financing activities of the Company are
segregated.
(C) Cash and cash equivalents
Cash and cash equivalents comprises cash on hand, demand deposits and highly liquid investments
with an original maturity of up to three month that are readily convertible into cash and which are
subject to an insignificant risk of changes in value
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