Jyot International Marketing Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Mar 31, 2025

1. CORPORATE INFORMATION

1.1 Jyot International Marketing Limited is a company limited by shares, incorporated on 29/03/1989. Its Shares are listed on Bombay Stock Exchange Limited. Company is primarily engaged in business of finance and investments.

The company has its registered office situated at Room No.01, 01, Pandurang Society, Judges Bungalow Road, Bodakdev, Ahmedabad-380054.

1.2 The Company has obtained a Certificate of Registration as Non-Deposit Accepting and Non-Systemically Important Non-Banking Financial Company (NBFC) vide Registration No. B.01.00425 dated 16.09.2002.

2. SIGNIFICANT ACCOUNTING POLICIES

2.1 Basis of preparation:

a. These financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS) as per the Companies (Indian Accounting Standards) Rules, 2015 as amended from time to time and notified under section 133 of the Companies Act,2013 (The Act).

b. The company uses accrual basis of accounting except in case of significant uncertainties.

c. The financial statements are prepared on a going concern basis. as the management is satisfied that the company shall be able to continue its business for the foreseeable future and no material uncertainty exist that may cast significant doubt on the going concern assumption.

d. The company prepares and presents its Balance Sheet, the statement of Profit and Loss and the statement of change in Equity in the format prescribed by Division III of Schedule III to the Act. The statement of Cash Flow has been prepared and presented as per the requirement of Ind AS 7 "Statement of Cash Flows".

2.2 Use of Estimates:

The preparation of financial statements require management to make estimates and assumptions that affect the reported balances of assets and liabilities and disclosures related to contingent liabilities as at the date of financial statements and the reported amounts of revenues and expenses during the reporting period. Accounting estimates could change from period to period and actual results could differs from those estimates. Approriate changes in estimates are made as the management becomes aware of changes. Changes in estimates are reflected in the financial statements in the period in which changes are made.

2.3 Revenue Recognition:

Interest Income is recognized on accrual basis when no significant uncertainty as to its determination or realization exists.

2.4 Fixed Assets:

a. Tangible Assets:

The Company does not have any fixed assets during the year under review.

b. Intangible Assets:

There is no asset in the books of company which can be accounted as intangible assets.

2.5 Depreciation, Amortization and Depletion:

a. Tangible Assets:

The Company does not have any fixed assets during the year under review.

b. Intangible Assets:

There is no intangible asset in the books of company.

2.6 Investments:

a. Investments are long term investments and are stated at cost. Profit or Loss on sale of investments is recorded at the time of transfer of title from the Company.

b. Investment in subsidiary is recognized at cost and are not adjusted to fair value at the end of each reporting period, as allowed by Ind AS 27 "Separate Financial Statement" Cost of investment represents amount paid for acquisition of the said investments.

2.7 Loans & Advances:

The company has granted loans and advances in the nature of loans, without specifying the terms and conditions of loan and its period of repayment. All loans are stated at its realizable value in the financial statements.

2.8 Borrowing Costs:

Borrowing Costs represent the amount of interest expenses payable on Unsecured Loan taken and accepted by the Company, the same is accounted on accrual basis

2.9 Employees'' Benefits:

The provisions of Provident Fund Act,1952 and Payment of Gratuity Act, 1972 are not applicable to the Company at present.

2.10 Taxes on Income:

Taxes on income are accounted in the same period to which the revenue and expenses relate.

Provision for Current Income Tax is made on the basis of estimated taxable income, in accordance with the provisions of the Income Tax Act, 1961 and rules framed thereunder.

Deferred Tax is the tax effect of timing differences. The timing differences are differences between the taxable income and accounting income for a period that originate in one period and are capable of reversal in one or more subsequent periods.

2.11 Foreign Currency Transactions:

There are no transactions in foreign currency during the year.

2.12 Contingencies and Provisions:

Provisions are recognized when there is a present obligation as a result of part events, where it is probable that an outflow of resources will be required to settle the obligation and a reliable estimate can be made.

Contingent Liabilities are recognized only when there is a possible obligation arising from past events, due to 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 obligation cannot be made. Contingent assets are not recognized in the financial statements. Future events, not wholly within the control of the Company or where any present obligation cannot be measure in terms of future outflow of resources or where a reliable estimate of obligation cannot be made. Contingent assets are not recognized in the financial statements.

Income Tax Department has issued an Assessment Order for Financial Year 2021-22 raising a demand of Rs.(in Lakh) 5,023.17/-, however against this Order, the company has filed an Appeal before higher Authority, challenging the Assessment Order of Income Tax Department. No Provision has been made in the books of the company.

2.13 Cash Flow Statements:

Cash flows are reported using the indirect method, whereby profit/(loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on available information.

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Mar 31, 2024

2. SIGNIFICANT ACCOUNTING POLICIES

2.1 Basis of preparation:

a. These financial statements have been prepared in accordance with Indian Accounting
Standards (Ind AS) as per the Companies ( Indian Accounting Standards ) Rules, 2015
as amended from time to time and notified under section 133 of the Companies
Act,2013 ( The Act )

b. The company uses accrual basis of accounting except in case of significant
uncertainties.

c. The financial statements are prepared on a going concern basis. as the management is
satisfied that the company shall be able to continue its business for the foreseeable
future and no material uncertainty exist that may cast significant doubt on the going
concern assumption.

d. The company prepares and presents its Balance Sheet, the statement of Profit and Loss
and the statement of change in Equity in the format prescribed by Division III of
Schedule III to the Act. The statement of Cash Flow has been prepared and presented as
per the requirement of Ind AS 7 “Statement of Cash Flows"

2.2 Use of Estimates:

The preparation of financial statements require management to make estimates and
assumptions that affect the reported balances of assets and liabilities and disclosures
related to contingent liabilities as at the date of financial statements and the reported
amounts of revenues and expenses during the reporting period. Accounting estimates could
change from period to period and actual results could differs from those estimates.
Appropriate changes in estimates are made as the management becomes aware of changes.
Changes in estimates are reflected in the financial statements in the period in which
changes are made.

2.3 Revenue Recognition:

Interest Income is recognized on accrual basis when no significant uncertainty as to its
determination or realization exists.

2.4 Fixed Assets:

a. Tangible Assets:

The Company does not have any fixed assets during the year under review.

b. Intangible Assets:

There is no asset in the books of company which can be accounted as intangible assets.

2.5 Depreciation, Amortization and Depletion:

a. Tangible Assets:

The Company does not have any fixed assets during the year under review.

b. Intangible Assets:

There is no intangible asset in the books of company.

2.6 Investments:

a. Investments are long term investments and are stated at cost and provision is not
made for diminution in the value of quoted Equity Shares. Profit or Loss on sale of
investments is recorded at the time of transfer of title from the Company.

b. Investment in subsidiary is recognized at cost and are not adjusted to fair value at
the end of each reporting period, as allowed by Ind AS 27 “ Separate Financial Statement
“Cost of investment represents amount paid for acquisition of the said investments.

2.7 Loans & Advances

The company has granted loans and advances in the nature of loans, without
specifying the terms And conditions of loan and its period ofrepayment. All loans are stated
atits realizable value in the financial statements

2.8 Borrowing Costs:

Borrowing Costs represent the amount of interest expenses payable on Unsecured Loan
taken Andaccepted by the Company, the same is accounted on accrual basis

2.9 Employees'' Benefits:

The provisions of Provident Fund Act,1952 and Payment of Gratuity Act, 1972 are not
applicable to the Company at present.

2.10 Taxes on Income:

Taxes on income are accounted in the same period to which the revenue and expenses
relate.

Provision for Current Income Tax is made on the basis of estimated taxable income, in
accordance with the provisions of the Income Tax Act, 1961 and rules framed thereunder.

Deferred Tax is the tax effect of timing differences. The timing differences are differences
between the taxable income and accounting income for a period that originate in one period
and are capable of reversal in one or more subsequent periods.

2.11 Foreign Currency Transactions

There are no transactions in foreign currency during the year.