i) Compliance with Ind AS

These financial statements have been prepared in accordance with the Indian Accounting Standard (hereinafter

referred to as the 'Ind AS ) as notified by Ministry of Corporate Affairs pursuant to Section 133 of the Companies
Act, 2013 ( Act ) read with of the Companies (Indian Accounting Standard) Rules. 2015 as amended other relevant

provisions of the Act.

The accounting policies are applied consistently to all the periods presented in the financial statements

ii) Historical Cost Convention

The financial statements have been prepared on a historical cost basis, except for the following
certain financial assets and liabilities that are measure at fair value;

iii) Current non-current classification

All assets and liabilities have been classified as current or non-current as per the Company’s normal operating
cycle (twelve months) and other criteria set out in the schedule III to the Act.

b) Use of estimates and Judgements

The estimates and judgments used in the preparation of the financial statements are continuously evaluated by the company and
are based on historical experience and various other assumptions and factors (including expectations of future events) that the
Company believes to be reasonable under the existing circumstances. Differences between actual results and estimates are
recognised in the period in which the results are known/materialised.

The said estimates are based on the facts and events, that existed as at the reporting date, or that occurred after that
date but provide additional evidence about conditions existing as at the reporting date.

c) Property, plant and equipment

Freehold land Is carried at cost. All other items of property, plant and equipment are stated at cost less depreciation
and impairment, if any. Historical cost Includes expenditure that is directly attributable to the acquisition of the items.

Subsequent costs are Included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only
when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the
item can be measured reliably. The carrying amount of any component accounted for as a separate asset is
derecognised when replaced. Ail other repairs and maintenance are charged to the Statement of Profit and Loss during
the reporting period in which they are incurred.

Depreciation methods, estimated useful lives and residual value

Depreciation on Factory Buildings, Plant and Equipment, and other assets related to Factory ^;s provided on a Straight
Line Method and all assets related to Mumbai Office-on Written Down Value Method, over the estimated useful lives

of assets.

The Company depreciates its property, plant and equipment over the useful life in the manner prescribed in Schedule II
to the Act, and management believe that useful life of assets are same as those prescribed in Schedule II to the Act,

d) Investment Propertie -

Property that Is held for long term rental yields and that is not occupied by the company is classified as
investment property. Investment property is measured at its cost, including related transatipn costs and where

applicable borrowing costs less depreciation and impairment if any. ’

' e) Cash and Cash Equivalents

For the purpose of presentation In the statement of cash flows, cash and cash equivalents Includes cas .

bank overdraft, balance In current account.

ⁿ Borrowings are initially recognised at net of transaction costs Incurred and measured at amortised cost. Any difference
between the proceeds (net of transaction costs) and the redemption amount Is recognised In the Statement of
Profit and Loss over the period of the borrowings using the effective Interest method.

g) Borrowing costs

Other interest and borrowing costs are charged to Statement of Profit and loss.

h) Provisions and contingent liabilities

Provisions are recognised when the Company has a present legal or constructive obligation as a result of p

it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably

estimated. Provisions are not recognised for future operating losses.

Provisions are measured at the present value of management's best estimate of the expenditure required to settle the
present obligation at the end of the reporting period. The discount rate used to determine the present value is a pre tax
rate that reflects current market assessments of the time value of money and the risks specific to the liability. The
increase in the provision due to the passage of time is recognised as interest expense.

Contingent liabilities are disclosed in respect of possible obligations that arise from past events but their existence will
be confirmed by the occurrence or non occurrence of one or more uncertain future events not wholly within the control
of the Company or where any present obligation cannot be measured in terms of future outflow of resources or where a
reliable estimate of the obligation cannot be made.

i) Revenue recognition of Income & Expenditure

Revenue from sales of products is recognized on transfer of all significant risk and rewards of ownership of the product onto
i), customer, which is generally or dispatch of goods. Sales are stated net of deducts during the year and exclusive of Value

Added Tax and excise duty.

jj) Revenue from Rental Income is recognised as per the agreement with the concerned party.

J) Employee Benefit

liability in respect of employee benefits are accounted for as follows :

Short-term employee benefits are recognized as expenses at undiscounted amount In the Statement of Profit and Loss of the year
A- in which the relevant services is rendered.

B Retirement Benefit

Retirement benefit in the form of Provident Fund, which are defined Contribution plans, are accounted on accrual basis and
I) charged to the Statement of Profit and Loss of the year.

ii) The liability in respect of accumulated leave is accounted on accrual. _

The Company has only three employees as at the close of the current year hence the gratuity liability has been calculated on

ⁱⁱⁱ⁾ discontinuation basis instead of an Actuarial Valuation, as the amounts involve are not material

k) Operating Expenses ;

The Company classifies separately operating expenses which are directly linked to main activities of the company.

I) Taxation:

Current Tax is determined as the amount of tax payable in respect of taxable Income for the year, computed In accordance with
the applicable provisions of income tax Act, 1961.

Deferred Tax resulting from tinning difference between taxable and accounting income is accounted for using the tax rates and
ii) laws that have been enacted or substantively enacted by the balance sheet date. Deferred Tax Asset is recognized and carried
forward only if there Is reasonable certainty of its realisation.

m) Impairment of non-financial assets:

Goodwill and intangible assets that have an Indefinite useful' life are not subject to amortisation and are tested annually for
Impairment,or more frequently if events or changes in circumstances indicate that they might be impaired. Other assets are
tested for Impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.
An impairment loss is recognised for the amount by which the asset's carrying amount exceeds Its recoverable amount. The
recoverable amount is the higher of an asset's fair value less costs of disposal and value in use. For the purpose of assessing
impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows which are largely
independent of the cash inflows from other assets or group of assets (cash-generating units). Non-financial assets other than
goodwill that suffered an impairment are reviewed for possible reversal of the impairment at the end of each reporting period.