JLA Infraville Shoppers Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Mar 31, 2025

A. Corporate Information

JLA Infraville Shoppers Limited is a entity incorporated under Companies Act,2013.The Company is located at NO. 2363, FIRST FLOOR, 24TH MAIN, 1ST SECTOR, HSR LAYOUT BANGALORE Bangalore KA 560102 INH The Company is engaged in online services and allied activities.

B. Significant Accounting Policies:

The Financial Statements have been prepared on the historical cost basis except for following assets and liabilities which have been measured at fair value amount:

i) Certain Financial Assets and Liabilities (including derivative instruments),

ii) Defined Benefit Plans - Plan Assets and

iii) Equity settled Share Based Payments

The Financial Statements of the Company have been prepared to comply with the Indian Accounting standards (''Ind AS''), including the rules notified under the relevant provisions of the Companies Act, 2013, (as amended from time to time) and Presentation and disclosure requirements of Division IIof Schedule III to the Companies Act, 2013,(Ind AS Compliant Schedule III) as amended from time to time.

B.2 Summary of Significant Accounting Policies

(a) Current and Non-Current Classification®

The Company presents assets and liabilities in theBalance Sheet based on Current/ Non-Current Classification.

An asset is treated as Current when it is -

(1) Expected to be realised or intended to be sold or consumed in normal operating cycle;

(2) Held primarily for the purpose of trading;

(3) Expected to be realised within twelve monthsBfter the reporting period, or

(4) Cash or cash equivalent unless restricted fromHeing exchanged or used to settle a liability forH at least twelve months after the reporting period.

All other assets are classified as non-current

A liability is current when:

(1) It is expected to be settled in normal Sperating cycle;

(2) It is held primarily for the purpose of trading;

(3) It is due to be settled within twelve months afterHhe reporting period, or

(4) There is no unconditional right to defer theHettlement of the liability for at least twelvemonths after the reporting period.

The Company classifies all other liabilitiesHs non-current

Deferred tax assets and liabilities are classified asHon-current assets and liabilities

(b) Property, Plant and Equipment

Property, Plant and Equipment are stated at cost, netHf recoverable taxes, trade discount and rebates less Hccumulated depreciation and impairment losses, if any. Such cost includes purchase price, borrowingHost and any cost directly attributable to bringingHhe assets to its working condition for its intendedHse, net charges H on foreign exchange contracts and adjustments arising from exchange rate variationsHttributable to the assets.

In case of land thedompany has availed fair value as deemed cost onHhe date of transition to Ind AS.

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 entity and the cost can be measured reliably.

Depreciation on Property, Plant and Equipment is provided using written down value method on depreciable amount except in case of certain assets of Oil to Chemicals segment which are depreciated using straight line method. Depreciation is provided based on useful life of the assets as prescribed in Schedule II to the Companies Act, 2013 except in respect of the following assets, where useful life is different than those prescribed in Schedule II;

(c) Intangible Assets

Intangible Assets are stated at cost of acquisition net of recoverable taxes, trade discount and rebates less accumulated amortisation/depletion and impairment losses, if any. Such cost includes purchase price, borrowing costs, and any cost directly attributable to bringing the asset to its working condition for the intended use, net charges on foreign exchange contracts and adjustments arising from exchange rate variations attributable to the Intangible Assets.

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 entity and the cost can be measured reliably.

Gains or losses arising from derecognition of an Intangible Asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognised in the Statement of Profit and Loss when the asset is derecognised. The Company''s intangible assets comprises assets with finite useful life which are amortised on a straight-line basis over the period of their expected useful life.

(d) Cash and Cash Equivalents

Cash and cash equivalents comprise of cash on hand, cash at banks, short-term deposits and short-term highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

(e) Finance Costs

Borrowing costs include exchange differences arising from foreign currency borrowings to the extent they are regarded as an adjustment to the interest cost. Borrowing costs that are directly attributableab the acquisition or construction of qualifying assets are capitalised as part of the cost of suchassets. A qualifying asset is one that necessarily takes substantial period of time to get ready forHs intended use.

Interest income earned on the temporary investmentof specific borrowings pending their expenditure ona qualifying assets is deducted from the borrowingaosts eligible for capitalisation.All other borrowing costs are charged to the Statement of Profit and Loss for the period for which they are incurred.

(f) Inventories

Items of inventories are measured at lower ofaost and net realisable value after providing forobsolescence, if any, except in case of by-productswhich are valued at net realisable value. Cost of inventories comprises of cost of purchase,aost of conversion and other costs including manufacturing overheads net of recoverable taxesa incurred in bringing them to their respective presentfccation and condition.

Cost of finished goods, work-in-progress, rawmaterials, chemicals, stores and spares, packing materials, trading and other products areaetermined on weighted average basis.

(g) Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of theobligation. If the effect of the time value of money ismaterial, provisions are discounted using a currentare-tax rate that reflects, when appropriate, the risk specific to the liability. When discounting is used, themcrease in the provision due to the passage of time B recognised as a finance cost.

(h) Contingent Liabilities

Disclosure of contingent liability is made when therel a possible obligation arising from past events,Ihe existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources embodying economic benefits will be required to settle or a reliable estimate of amount cannot be made.

(i) Revenue recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Income is accounted for on accrual basis in accordance with the Accounting Standards (AS) 9- "Revenue Recognition". Insurance and other claims are recognized in accounts on lodgment to the extent these are measurable with reasonable certainty of acceptance. Excess/ shortfall is adjusted in the year of receipt. Interest is recognized on a time proportion basis taking into account the amount outstanding and the applicable interest rate. During the year the Board has decided to waive off interest for some parties as per mutual understanding.

(j) Impairment of assets

An impairment loss is recognized wherever the carrying amount of fixed assets exceeds the recoverable amount i.e. the higher of the assets'' net selling price and value in use. After impairment, depreciation is provided on the revised carrying amount of the assets over its remaining useful life. A previously recognized impairment loss is increased or reversed depending on changes in circumstances. However, the carrying value after reversal is not increased beyond the carrying value that would have prevailed by charging usual depreciation if there was no impairment.

(k) Leased Assets

In case of Lessee

Assets taken on lease, under which the lessor effectively retains all the risks and rewards of ownership, are classified as operating lease. Operating lease payments are recognized as expense in the statement of profit and loss account. Assets acquired under leases where all the risks and rewards of ownership are substantially transferred to company are classified as finance leases. Such leases are capitalized at the inception of the lease at the lower of fair value or the present value of minimum lease payments and liability is created for an equivalent amount. Each lease rental paid is allocated between the liability and interest cost so as to obtain a constant periodic rate of interest on the outstanding liability for each period.

In case of Lessee

Leases in which the company transfers substantially all the risks and benefits of ownership of the asset are classified as finance leases. Assets given under finance lease are recognized as a receivable at an amount equal to the net investment in the lease. After initial recognition, the company apportions lease rentals between the principal repayment and interest income so as to achieve a constant periodic rate of return on the net investment outstanding in respect of the finance lease. The interest income is recognized in the statement of profit and loss. Initial direct costs such as legal costs, brokerage costs, etc. are recognized immediately in the statement of profit and loss. Leases in which the company does not transfer substantially all the risks and benefits of ownership of the asset are classified as operating leases. Assets subject to operating leases are included in fixed assets. Lease income on an operating lease is recognized in the statement of profit and Loss as revenue from operation. Costs, including depreciation, are recognized as an expense in the statement of profit and loss. Initial direct costs such as legal costs, brokerage costs, etc. are recognized immediately in the statement of profit and loss.

(l) Taxes on income

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

Deferred tax is recognised on timing differences, being the differences between the taxable income and the accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax is measured using the tax rates and the tax laws enacted or substantially enacted as at the reporting date. Deferred tax liabilities are recognised for all timing differences. Deferred tax assets in respect of unabsorbed depreciation and carry forward of losses are recognised only if there is virtual certainty that there will be sufficient future taxable income available to realise such assets. Deferred tax assets are recognised for timing differences of other items only to the extent that reasonable certainty exists that sufficient future taxable income will be available against which these can be realised. Deferred tax assets and liabilities are offset if such items relate to taxes on income levied by the same governing tax laws and the Company has a legally enforceable right for such set off. Deferred tax assets are reviewed at each Balance Sheet date for their

readability

Minimum Alternate Tax (MAT) paid in a year is charged to the Statement of Profit and Loss as current tax. The company recognizes MAT credit available as an asset only to the extent there is convincing evidence that the company will pay normal income tax during the specified period, i.e., the period for which MAT Credit is allowed

to be carried forward. In the year in which the Company recognizes MAT Credit as an asset in accordance with the Guidance Note on Accounting for Credit Available in respect of Minimum Alternate Tax under the Income Tax Act, 1961, the said asset is created by way of credit to the statement of Profit and Loss and shown as "MAT Credit Entitlement." The Company reviews the "MAT Credit Entitlement" asset at each reporting date and writes down the asset to the extent the company does not have convincing evidence that it will pay normal tax during the sufficient period.

Regarding MSME Classification

We have relied it is to inform that upon the classification provided to us by the management and have test checked it on sample basis.

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Mar 31, 2024

B. Significant Accounting Policies:

The Financial Statements have been prepared on the historical cost basis except for following assets and liabilities
which have been measured at fair value amount:

i) Certain Financial Assets and Liabilities (including derivative instruments),

ii) Defined Benefit Plans - Plan Assets and

iii) Equity settled Share Based Payments

The Financial Statements of the Company have been prepared to comply with the Indian Accounting standards
(''Ind AS''), including the rules notified under the relevant provisions of the Companies Act, 2013, (as amended
from time to time) and Presentation and disclosure requirements of Division IIof Schedule III to the Companies
Act, 2013,(I nd AS Compliant Schedule III) as amended from time to time.

B.2 Summary of Significant Accounting Policies

(a) Current and Non-Current Classification

The Company presents assets and liabilities in theBalance Sheet based on Current/ Non-Currentclassification.

An asset is treated as Current when it is -

(1) Expected to be realised or intended to be sold or consumed in normal operating cycle;

(2) Held primarily for the purpose of trading;

(3) Expected to be realised within twelve monthsafter the reporting period, or

(4) Cash or cash equivalent unless restricted frombeing exchanged or used to settle a liability for
at least twelve months after the reporting period.

All other assets are classified as non-current

A liability is current when:

(1) It is expected to be settled in normal operating cycle;

(2) It is held primarily for the purpose of trading;

(3) It is due to be settled within twelve months afterthe reporting period, or

(4) There is no unconditional right to defer thesettlement of the liability for at least twelvemonths after
the reporting period.

The Company classifies all other liabilitiesas non-current

Deferred tax assets and liabilities are classified asnon-current assets and liabilities

(b) Property, Plant and Equipment

Property, Plant and Equipment are stated at cost, netof recoverable taxes, trade discount and rebates
less accumulated depreciation and impairment losses, if any. Such cost includes purchase price, borrowingcost
and any cost directly attributable to bringingthe assets to its working condition for its intended use, net charges
on foreign exchange contracts and adjustments arising from exchange rate variations attributable to the assets.

In case of land theCompany has availed fair value as deemed cost onthe date of transition to Ind AS.

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 entity and the
cost can be measured reliably.

Depreciation on Property, Plant and Equipment is provided using written down value method on depreciable
amount except in case of certain assets of Oil to Chemicals segment which are depreciated using straight line
method. Depreciation is provided based on useful life of the assets as prescribed in Schedule II to the Companies
Act, 2013 except in respect of the following assets, where useful life is different than those prescribed in
Schedule II;

(c) Intangible Assets

Intangible Assets are stated at cost of acquisition net of recoverable taxes, trade discount and rebates less
accumulated amortisation/depletion and impairment losses, if any. Such cost includes purchase price, borrowing
costs, and any cost directly attributable to bringing the asset to its working condition for the intended use,
net charges on foreign exchange contracts and adjustments arising from exchange rate variations attributable
to the Intangible Assets.

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 entity and the cost
can be measured reliably.

Gains or losses arising from derecognition of an Intangible Asset are measured as the difference between the net
disposal proceeds and the carrying amount of the asset and are recognised in the Statement of Profit and Loss
when the asset is derecognised. The Company''s intangible assets comprises assets with finite useful life which
are amortised on a straight-line basis over the period of their expected useful life.

(d) Cash and Cash Equivalents

Cash and cash equivalents comprise of cash on hand, cash at banks, short-term deposits and short-term highly
liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant
risk of changes in value.

(e) Finance Costs

Borrowing costs include exchange differences arising from foreign currency borrowings to the extent they are
regarded as an adjustment to the interest cost. Borrowing costs that are directly attributableto the acquisition or
construction of qualifying assets are capitalised as part of the cost of suchassets. A qualifying asset is one that
necessarily takes substantial period of time to get ready for i ts intended use.

Interest income earned on the temporary investmentof specific borrowings pending their expenditure on
qualifying assets is deducted from the borrowingcosts eligible for capitalisation.All other borrowing costs are
charged to the Statement of Profit and Loss for the period for which they are incurred.

(f) Inventories

Items of inventories are measured at lower ofcost and net realisable value after providing forobsolescence, if any,
except in case of by-productswhich are valued at net realisable value. Cost of inventories comprises of cost
of purchase,cost of conversion and other costs including manufacturing overheads net of recoverable taxes
incurred in bringing them to their respective present I ocation and condition.

Cost of finished goods, work-in-progress, rawmaterials, chemicals, stores and spares, packing materials,
trading and other products aredetermined on weighted average basis.

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Mar 31, 2015

A) Basis of preparation of financial statements

The financial statements of the company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP] including the Accounting Standards notified under the relevant provisions of the Companies Act, 2013. The financial statements have been prepared on accrual basis under the historical cost convention.

b) Inventories

Trading Goods are valued at cost or net realizable value whichever is lower.

c) Revenue Recognition

Revenues are recognized and accounted for on accrual basis except in cases where significant uncertainties as to its measurability or collectability exist.

d) Fixed Assets

i) Tangible Asset: - Tangible assets are stated at cost less depreciation and impairment losses, if any. The cost comprises the purchase price and any other attributable costs of bringing the assets at its working condition for the intended use.

ii) Intangible Assets/- Intangible assets are carried at cost less accumulated amortization and impairment losses, if any. The cost of an intangible asset comprises its purchase price, including any import duties and other taxes (other than those subsequently recoverable from the taxing authorities], and any directly attributable expenditure on making the asset ready for its intended use and net of any trade discounts and rebates.

iii) Depreciation:- Depreciation has been provided on the written down value method based on the useful life of the assets as prescribed in Schedule II to the Companies Act, 2013.

e) Earning Per Shares

Basic earnings per share are computed by dividing the profit/(loss] attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.

For the purpose of calculating diluted earnings per share, the profit/(loss] for the period attributable to equity shareholders and the weighted average number of equity shares outstanding during the period are adjusted for the effects of all diluted potential equity shares.

f) Taxation

i) Income Tax

Provision for Income Tax is made on the basis of estimated taxable income for the current accounting period and in accordance with provisions as per Income Tax Act, 1961.

ii) Deferred Tax

Deferred tax resulting from "timing difference" book and taxable profit for the year is accounted for using the tax rates and laws that have enhanced or substantially enacted as on the balance sheet date. The deferred tax asset is recognized and carried forward only to the extent that there is a reasonable certainty that the asset will be adjusted in future. Permanent timing difference adjustments are not accounted for in provisions.

g) Impairment Of Assets

An asset is treated as impaired when the carrying cost of an asset exceeds its recoverable value and the impairment cost is charged to profit and loss account in the year in which an asset is identified as impaired. The impairment loss recognized in prior accounting year is reversed if there has been a change in the estimate of recoverable amount.

h) Investments Quoted investments

Short term investment are stated at cost or market price , whichever is lower. Long term investments are valued at cost.

Unquoted investment:-

Short term investments are stated at cost. Long term investments are valued at cost.

i) Provisions , Contingent Liabilities

Provision in respect of present obligation, arising out of past events is made in accounts When reliable estimates can be made of the amount of obligation. Contingent liabilities (if material) are disclosed by way of Notes on Accounts.