Asutosh Enterprises Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Mar 31, 2025

1. A. CORPORATE INFORMATION

The Company is a Core Investment Company in terms of the Master Direction - Core Investment Companies (Reserve Bank) Directions 2016 and is exempted from registration under Section 45IA of the Reserve Bank of India Act, 1934 in terms of the said Directions.

B. BASIS OF PREPARATION OF FINANCIAL STATEMENTS

a) Basis of preparation and compliance with Ind AS -

(i) The Standalone Financial Statements as on March 31, 2025 have been prepared in accordance with the principles and procedures of the Indian Accounting Standards ("IND AS") as notified under the Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time) and in terms of the Companies Act, 2013, as applicable to the Standalone Financial Statements.

(ii) These Financial Statements were approved for issue by the Board of Directors on 19th May, 2025.

b) Basis of measurement-

The Ind AS Financial Statements have been prepared on a going concern basis using historical cost convention and on an accrual method of accounting.

c) Fair Value measurement -

Fair value of Financial Assets and Liabilities has been arrived at on the basis of reasonable estimation made by the Company.

d) Functional and presentation currency -

These Ind-AS Financial Statements are prepared in Indian Rupees (Lakhs) which is the Company''s functional currency.

C. MATERIAL ACCOUNTING POLICIES

a) Revenue Recognition -

Revenue from Sales is recognised when all significant risks and rewards of ownership of the commodity sold are transferred to the customer which generally coincides with delivery.

Revenue from Income other than Operations has been accounted for on accrual basis.

b) Property, Plant and Equipment-

The property, plant and equipment is stated at cost of acquisition including related expenses of transportation or installation and interest on loans utilised for acquisition of assets till such assets are used for production or bringing an asset to working condition and location for its intended use but excluding credit available for excise duty paid on such acquisition.

Expenditure incurred after the property, plant and equipment have been put into operation such as repairs and maintenance are normally charged to the Statement of Profit and Loss in the period in which the costs are incurred.

Gains and losses on disposal of an item or Property, Plant and Equipment are recognised net within other income / other expenses in Statement of Profit and Loss.

The residual value, useful lives and method of depreciation of Property, Plant and Equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.

c) Depreciation -

Assets in the course of development or construction and freehold land are not depreciated.

Other property, plant and equipment are stated at cost less accumulated depreciation and any provision for impairment. Depreciation commences when the assets are ready for their intended use.

Depreciation is provided on straight line method after considering expected useful life of property, plant and equipment as per Schedule II of the Companies Act 2013.

d) Investments -

Investments are in the nature of Non-Current Asset and recorded at cost inclusive of transfer expenses. When any investment is acquired without any cost (such as bonus) the same is valued as nil.

e) Inventories -

Inventories are valued at lower of cost or net realisable value.

f) Employee Benefit Scheme -

Retirement benefit in the nature of gratuity, if applicable, is provided based on year end liability.

g) Taxation -Current Income Tax

Current Income Tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or subsequently enacted, at the reporting date.

Deferred Tax

Deferred Tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and the unused tax credits and unused tax losses can be utilised.

h) Impairment of Assets-

The Company assesses, at each reporting date, whether there is any indication that an asset may be impaired. If any indication exists, on an annual impairment testing, impairment for an asset is required, the Company estimates the asset''s recoverable amount. Impairment loss is recognised wherever the carrying amount of an asset is in excess of its recoverable amount and the same is recognised as an expense in the Statement of Profit & Loss and carrying amount of the asset is reduced to its recoverable amount.

i) Cash Flow Statement -

Cash flows are reported using Indirect method as set out in Ind AS -7 "Statement of Cash Flows". The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

j) Earnings Per Share -

The Company presents basic and diluted earnings per share ("EPS") data for its equity shares. Basic EPS is calculated by dividing the profit and loss attributable to equity shareholders of the Company by the weighted average number of equity shares outstanding during the period. Diluted EPS is determined by adjusting the profit and loss attributable to equity shareholders and the weighted average number of equity shares outstanding for the effects of all diluted potential equity shares.

k) Provision for liabilities and charges, contingent liabilities and contingent assets -

Provisions are recognised when the Company has a present obligation as a result of past events, and it is probable that an outflow of resources, that can be reliably estimated, will be required to settle such an obligation. Provisions are reviewed at each reporting date and are adjusted to reflect the current best estimate.

Contingent Liabilities may arise from litigation and other claims against the Company. There are certain obligations which management has concluded, based on all available facts and circumstances, are not probable of payment and are very difficult to quantify reliably, as such said obligations are treated as contingent liabilities and disclosed in the notes but are not reflected as liabilities in the Financial Statements.

Contingent Assets are not recognised but disclosed in the Financial Statements when the inflow of economic benefits is probable.

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Mar 31, 2024

C. SIGNIFICANT ACCOUNTING POLICIES

a) Revenue Recognition -

Revenue from Sales is recognised when all significant risks and rewards of ownership of the
commodity sold are transferred to the customer which generally coincides with delivery.

Revenue from Income other than Operations has been accounted for on accrual basis.

b) Property, Plant and Equipment -

The property, plant and equipment is stated at cost of acquisition including related expenses of
transportation or installation and interest on loans utilised for acquisition of assets till such assets are
used for production or bringing an asset to working condition and location for its intended use but
excluding credit available for excise duty paid on such acquisition.

Expenditure incurred after the property, plant and equipment have been put into operation such as
repairs and maintenance are normally charged to the Statement of Profit and Loss in the period in
which the costs are incurred.

Gains and losses on disposal of an item or Property, Plant and Equipment are recognised net within
other income / other expenses in Statement of Profit and Loss.

The residual value, useful lives and method of depreciation of Property, Plant and Equipment are
reviewed at each financial year end and adjusted prospectively, if appropriate.

c) Investment Property -

An investment property shall be measured initially at its historical cost less accumulated depreciation
and impairment loss.

d) Depreciation -

Assets in the course of development or construction and freehold land are not depreciated.

Other property, plant and equipment are stated at cost less accumulated depreciation and any
provision for impairment. Depreciation commences when the assets are ready for their intended
use.

Depreciation is provided on straight line method after considering expected useful life of fixed assets
as per Schedule II of the Companies Act 2013.

e) Investments-

Investments are in the nature of Non-Current Asset and recorded at cost inclusive of transfer
expenses. When any investment is acquired without any cost (such as bonus) the same is valued as
nil.

f) Inventories-

Inventories are valued at lower of cost or net realisable value.

g) Employee Benefit Scheme -

Retirement benefit in the nature of gratuity, if applicable, is provided based on year end liability.

h) Taxation -
Current Income Tax

Current Income Tax assets and liabilities are measured at the amount expected to be recovered from
or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those
that are enacted or subsequently enacted, at the reporting date.

Deferred Tax

Deferred tax assets are recognised to the extent that it is probable that taxable profit will be
available against which the deductible temporary differences and the unused tax credits and unused
tax losses can be utilised.

i) Impairment of Assets -

The Company assesses, at each reporting date, whether there is any indication that an asset may be
impaired. If any indication exists, on an annual impairment testing, impairment for an asset is
required, the company estimates the asset''s recoverable amount. Impairment loss is recognised
wherever the carrying amount of an asset is in excess of its recoverable amount and the same is
recognised as an expense in the Statement of Profit & Loss and carrying amount of the asset is
reduced to its recoverable amount.

j) Cash Flow Statement -

Cash flows are reported using Indirect method as set out in Ind AS -7 "Statement of Cash Flows". The
cash flows from operating, investing and financing activities of the company are segregated based on
the available information.

k) Earnings Per Share -

The Company presents basic and diluted earnings per share ("EPS") data for its equity shares. Basic
EPS is calculated by dividing the profit and loss attributable to equity shareholders of the company by
the weighted average number of equity shares outstanding during the period. Diluted EPS is
determined by adjusting the profit and loss attributable to equity shareholders and the weighted
average number of equity shares outstanding for the effects of all diluted potential equity shares.

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Mar 31, 2014

A) SYSTEM OF ACCOUNTING :

The company follows accrual system of accounting in accordance with normally accepted accounting principles.

b) FIXED ASSETS :

(i) Fixed Assets are stated at cost including other expenses relating to acquisition and installation.

(ii) Depreciation has been provided on W.D.V. basis at the rates prescribed in Schedule - XIV of the Companies Act, 1956.

c) INVESTMENTS :

Current Investments are carried at the lower cost or quoted/fair market value. Long Term Investments are stated at cost. Provision for diminution in the value of Long Term Investment is made only if such a decline is other than temporary.

d) TRANSACTIONS IN FOREIGN CURRENCY :

Transactions in foreign currency are recorded for at the exchange rate prevailing on the date of transaction, Gain /Losses arising out of fluctuations in the exchange rate are recognized in the Statement of Profit and Loss in the period in which they arise & monetary assets and liabilities relating to foreign currency transactions remaining unsettled at the end of year are recorded at year end rate.

e) CONTINGENT LIABILITIES AND PROVISIONS :

Contingent Liabilities are disclosed after a careful evaluation of facts and legal aspects of the matter involved. Provisions are recognized when the company has a legal/constructive obligation and on management discretion, as a result of past event, for which it is probable that cash outflow may be required and reliable estimate can be made for the amount of the obligation. Contingent Assets are neither recognized or disclosed by way of note.

f) TAXATION :

Provision for current tax is being made based on liabilities computed in accordance with the relevant tax loss. Provision for Deferred Tax is being made for the timing difference arising between taxable income and accounting income computed at the rates of tax enacted or substantively enacted as on Balance Sheet date. Deferred Tax Assets are recognised only if there is the virtual certainty that will be realised and are reviewed for appropriateness of their respective carrying values at Balance Sheet date.

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Mar 31, 2012

A) SYSTEM OF ACCOUNTING :

The company follows accrual system of accounting in accordance with normally accepted accounting principles.

b) FIXED ASSETS :

(i) Fixed Assets are stated at cost.

(ii) Depreciation has been provided on W.D.V.basis at the rates prescribed in schedule -XIV of the Companies Act, 1956 (as amended).

c) INVESTMENTS :

Current Investments are carried at the lower cost or quoted / fair value. Long Term Investments are stated at cost. Provision for diminution in the value of Long Term Investment is made only if such a decline is other than temporary.

d) TRANSACTION IN FOREIGN CURRENCY :

Transactions in foreign currency are recorded for at the exchange rate prevailing on the date of transaction, Gain /Losses arising out of fluctuations in the exchange rate are recognized in the Statement of Profit and Loss in the period in which they arise & monetary assets and liabilities relating to foreign currency transactions remaining unsettled at the end of year are recorded at year end rate.

e) CONTINGENT LIABILITIES AND PROVISIONS :

Contingent Liabilities are disclosed after a careful evaluation of facts and legal aspects of the matter involved. Provisions are recognized when the company has a legal/constructive obligation and on management discretion, as a result of past event, for which it is probable that cash outflow may be required and reliable estimate can be made for the amount of the obligation. Contingent Assets are neither recognized or disclosed by way of note.

f) TAXATION :

Tax expenses comprises of current deferred and Fringe Benefit Tax. Current Income Tax and Fringe Benefit Tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. Deferred Income Taxes reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years.

g) Deferred tax is measured based on the tax rates and tax laws enacted or substantially enacted at the Balance Sheet date. Defferred tax assets are recognized only to the extent that there is reasonable certainity that sufficient future taxable income will be available against which such deferred tax assets can be realized.

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Mar 31, 2011

A) System of Accounting :

The company follows accrual system of accounting in accordance with normally accepted accounting principles.

b) Fixed Assets:

i) Fixed Assets are stated at cost.

ii) Depreciation is provided on W.D.V. basis at the rates prescribed in schedule-XIV of the Companies Act, 1956.

c) Investments:

Current Investments are carried at the lower of cost or quoted/fair value. Long Term Investments are stated at cost. Provision for diminution in the value of Long Term Investment is made only if such a decline is other than temporary.

d) Transaction in Foreign Currency :

i) Transactions in Foreign Currency are accounted for at the exchange rate prevailing on the date of transaction, Gain/Losses arising out of fluctuations in the exchange rates are recognized in the Profit and Loss Account in the period in which they arise.

e) Contingent Liabilities and Provisions :

Contingent Liabilities are disclosed after a careful evaluation of facts and legal aspects of the matter involved. Provisions are recognized when the company has a legal/constructive obligation and on management discretion, as a result of past event, for which it is probable that a cash outflow may be required and a reliable estimate can be made for the amount of the obligation. Contingent Assets are neither recognized nor disclosed by way of note.

f) Taxation:

Tax expenses comprises of current, deferred Current Income tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. Deferred Income Taxes reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years.

g) Deferred tax is measured based on the tax rates and tax laws enacted or substantially enacted at the balance sheet date. Deferred tax assets are recognized only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

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Mar 31, 2010

A) System of Accounting :

The company follows accrual system of accounting in accordance with normally accepted accounting principles.

b) Fixed Assets:

i) Fixed Assets are stated at cost.

ii) Depreciation is provided on W.D.V. basis at the rates prescribed in schedule-XIV of the Companies Act, 1956.

c) Investments:

Current Investments are carried at the lower of cost or quoted/fair value. Long Term Investments are stated at cost. Provision for diminution in the value of Long Term Investment is made only if such a decline is other than temporary.

d) Transaction in Foreign Currency :

i) Transactions in Foreign Currency are accounted for at the exchange rate prevailing on the date of transaction, Gain/Losses arising out of fluctuations in the exchange rates are recognized in the Profit and Loss Account in the period in which they arise.

e) inventories

Stock of Tea is valued at average cost or net realisable value whichever is lower.

f) Short term employee benefits are recognised as an expense in the Profit & Loss Account of the year in which the related service is rendered.

g) Contingent Liabilities and Provisions :

Contingent Liabilities are disclosed after a careful evaluation of facts and legal aspects of the matter involved. Provisions are recognized when the company has a legal/constructive obligation and on man- agement discretion, as a result of past event, for which it is probable that a cash outflow may be required and a reliable estimate can be made for the amount of the obligation. Contingent Assets are neither recognized nor disclosed by way of note.

h) Taxation:

Tax expenses comprises of current, deferred and fringe benefit tax Current Income Tax and fringe benefit tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. Deferred Income Taxes reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years.

Deferred tax is measured based on the tax rates and tax laws enacted or substantially enacted at the balance sheet date. Deferred tax assets are recognized only to the extent that there is reasonable certainity that sufficient future taxable income will be available against which such deferred tax assets can be realized.

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Mar 31, 2009

A) System of Accounting :

The company follows accrual system of accounting in accordance with normally accepted accounting principles.

b) Fixed Assets :

i) Fixed Assets are stated at cost.

ii) Depreciation is provided on W.D.V. basis at the rates prescribed in schedule-XIV of the Companies Act, 1956.

c) Investments :

Current Investments are carried at the lower of cost or quoted/fair value. Long Term Investments are stated at cost. Provision for diminution in the value of Long Term Investment is made only if such a decline is other than temporary.

d) Transaction in Foreign Currency :

i) Transactions in Foreign Currency are accounted for at the exchange rate prevailing on the date of transaction, Gain/Losses arising out of fluctuations in the exchange rates are recognized in the Profit and Loss Account in the period in which they arise.

e) Inventories

Stock of Tea is valued at average cost or net realisable value whichever is lower.

f) Short term employee benefits are recognised as an expense in the Profit & Loss Account of the year in which the related service is rendered.

g) Contingent Liabilities and Provisions :

Contingent Liabilities are disclosed after a careful evaluation of facts and legal aspects of the matter involved. Provisions are recognized when the company has a legal/constructive obligation and on man- agement discretion, as a result of past event, for which it is probable that a cash outflow may be required and a reliable estimate can be made for the amount of the obligation. Contingent Assets are neither recognized nor disclosed by way of note.

h) Taxation :

Tax expenses comprises of current, deferred and fringe benefit tax Current Income Tax and fringe benefit tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. Deferred income Taxes reflects the impact of current vear timing differences between taxable income ana accounting income for the year and reversal of timing differences of earlier years. Deferred tax is measured based on the tax rates and tax laws enacted or substantially enacted at the balance sheet date. Deferred tax assets are recognized only to the extent that there is reasonable certainity that sufficient future taxable income will be available against which such deferred tax assets can be realized.