Frontline Financial Services Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Mar 31, 2025

Notes: 1

Additional regulatory information

(a)

Title deeds of immovable property not held in name of the Company

All the title deeds of immovable properties are held in the name of the company subject to Note No 9 of Balance sheet of Rs. 1,00,00,000/- related to Investment in Plot in Sanand which is not verified by us as no information provided to us.

(b)

Revaluation of property, plant and equipment:

The Company has not revalued its Property, Plant and Equipment and hence the Company shall not be required to disclose as to whether the revaluation is based on the valuation by a registered valuer as defined under rule 2 of the Companies (Registered Valuers and Valuation) Rules, 2017.

(c)

Loans or advances - Additional disclosures:

During the year the Company has not granted loans or advances in nature of loans to promoters, directors, key managerial personnel and related parties as defined under the Companies Act, 2013 either severally or jointly with any other person that is (a) repayable on demand; or (b) without specifying any terms or period of repayment,

(d)

Capital Work In Progress (CWIP)

The Company is not having any capital work-in-progress during the year or previous year.

(e)

Intangible assets under development:

The Company is not having any intangible asset under development during the year or previous year.

(f)

Where the Company has borrowings from banks or financial institutions on the basis of current assets

The Company has not borrowings from banks or financial institutions on the basis of security of current assets during the year. The quarterly returns or statements of current assets filed by the Company with banks or financial institutions are in agreement with the books of account. Hence, requirements of furnishing summary of reconciliation and reasons of material discrepancies do not apply.

(g)

Wilful Defaulter:

The Company has not borrowings from banks or financial institutions or other lenders. However, the Company has not been declared a wilful defaulter at any time during the year or after the end of reporting period, but before the date when financial statements are approved or in an earlier period and the default has continued for the whole or part of the current year by any bank or financial institution or other lender.

(h)

Relationship with Struck off Companies

The Company has no transaction during the year with companies struck off under section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956.

(i)

Registration of charges or satisfaction with Registrar of Companies

The Company has taken not the credit facilities from Bank hence all legal formalities related to registration of charges has been not required.

(j)

Compliance with number of layers of companies

We have not received such information form companies hence we are enable to comment on same.

(k)

Compliance with approved Scheme(s) of Arrangements

No Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013 during the year. Hence, the requirements of disclosure of effect of such Scheme of Arrangements in the books of account in accordance with the Scheme and in accordance with accounting standards are not applicable.

(l)

Utilisation of Borrowed funds and share premium:

The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) during the year with the understanding (whether recorded in writing or otherwise) that the Intermediary shall:

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf o

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) during the year with the understanding (whether recorded in writing or otherwise) that the Company shall:

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

(ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

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Mar 31, 2015

I) Basis of Accounting:

Financial Statement is prepared under historical cost convention on a accrual basis in accordance with the requirements of the Companies Act. 1956.

ii) Fixed Assets and Depreciation

a) Depreciation on Fixed Assets is Not Calculated.

b) i) INVENTORIES

The Inventory are stated at Cost or NRV whichever is less.

ii) CONTINGENT LIABILITIES

No provision is made for liabilities, which are contingent in nature but, if material the same is disclosed by way of notes to the accounts.

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Mar 31, 2014

I) Basis of Accounting:

Financial Statement is prepared under historical cost convention on a accrual basis in accordance with the requirements of the Companies Act. 1956.

ii) Fixed Assets and Depreciation

a) Depreciation on Fixed Assets is Not Calculated.

b)

i) INVENTORIES

The Inventory are stated at Cost or NRV whichever is less.

ii) CONTINGENT LIABILITIES

No provision is made for liabilities, which are contingent in nature but, if material the same is disclosed by way of notes to the accounts.

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Mar 31, 2013

I. ACCOUNTING CONVENTION :

The financial statement is prepared under the historical cost convention and follows the mercantile system of accounting and recognizes income and expenditure on the accrual basis except those with significant uncertainties. Sales & Purchase is accounted exclusive of excise duty.

II. FIXED ASSETS :

There Fixed assets are stand at cost of acquisition inclusive of freight, duties, taxes, and inclusive of expenses.

III. DEPRECIATION :

Depreciation on Fixed Assets is not Calculated.

IV. INVENTORIES :

There is no Closing Stock at the year end .In closing Stocks include shares and securities is valued at cost or market price whichever is lower. The stock of Shares and securities is based on the intention of management and other relevant circumstances.

V. INVESTMENT :

All the Investment are Long Term Investment which is stated at cost.

VI. MISCELLANOUS EXPENSES :

There is no any Preliminary Expenditures at the end of the year.

VII. CONTINGENT LIABILITIES :

No Provision is made for liabilities, which are contingent in nature but, if material, the same all disclosed by way notes to the accounts.

i) Basis of Accounting :

Financial Statement is prepared under historical cost convention on a accrual basis in accordance with the requirements of the Companies Act. 1956.

ii) Fixed Assets and Depreciation

a) Depreciation on Fixed Assets is Not Calculated.

b)

i) INVENTORIES

The Inventory are stated at Cost or NRV whichever is less.

ii) CONTINGENT LIABILITIES

No provision is made for liabilities, which are contingent in nature but, if material the same is disclosed by way of notes to the accounts.

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Mar 31, 2012

I. ACCOUNTING CONVENTION :

The financial statement is prepared under the historical cost convention and follows the mercantile system of accounting and recognizes income and expenditure on the accrual basis except those with significant uncertainties. Sales & Purchase is accounted exclusive of excise duty.

II. FIXED ASSETS :

There Fixed assets are stand at cost of acquisition inclusive of freight, duties, taxes, and inclusive of expenses.

III. DEPRECIATION :

Depreciation on fixed assets is provided on "Written Down Value Method" at the rate and in the manner prescribed in Schedule XIV of the Companies Act, 1956.

IV. INVENTORIES :

There is no Closing Stock at the year end. In closing Stocks include shares and securities is valued at cost or market price whichever is lower. The stock of Shares and securities is based on the intention of management and other relevant circumstances.

V. INVESTMENT :

All the Investment are Long Term Investment which is stated at cost.

VI. MISCELLANOUS EXPENSES :

There is no any Preliminary Expenditures at the end of the year.

VII. CONTINGENT LIABILITIES :

No Provision is made for liabilities, which are contingent in nature but, if material, the same all disclosed by way notes to the accounts.