Raconteur Global Resources Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Mar 31, 2025

A. Significant Accounting Policies

1. Basis of accounting:-

These financial statements have been prepared in accordance with
the Generally Accepted Accounting Principles in India (Indian
GAAP) including the Accounting Standards notified under Section
133 of the Companies Act, 2013, read with Rule 7 of the Companies
(Accounts) Rules, 2014 and the relevant provisions of the
Companies Act, 2013.

The financial statements have been prepared under the historical
cost convention on accrual basis.

2. Use of Estimates

The preparation of financial statements in conformity with Indian
GAAP requires the management to make judgments, estimates
and assumptions that affect the reported amounts of revenues,
expenses, assets and liabilities and the disclosure of contingent
liabilities, at the end of the reporting period. Although these
estimates are based on the management''s best knowledge of
current events and actions, uncertainty about these assumptions
and estimates could result in the outcomes requiring a material

adjustment to the carrying amounts of assets or liabilities in future
periods.

3. Revenue Recognition: -

Expenses and Income considered payable and receivable
respectively are accounted for on accrual basis.

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.

4. Property, Plant & Equipment:-

Property, Plant & Equipment including intangible assets are stated
at their original cost of acquisition including taxes, freight and other
incidental expenses related to acquisition and installation of the
concerned assets less depreciation till date.

5. Depreciation :-

Depreciation on Fixed Assets is provided to the extent of
depreciable amount on the SLM method. Depreciation is provided
based on useful life of the assets as prescribed in Schedule II to the
Companies Act, 2013.

6. Foreign currency Transactions: -

Transactions arising in foreign currencies during the year are
converted at the rates closely approximating the rates ruling on the
transaction dates. Liabilities and receivables in foreign currency
are restated at the year-end exchange rates. All exchange rate
differences arising from conversion in terms of the above are
included in the statement of profit and loss.

7. Investments :-

Investments, which are readily realizable and intended to be held
for not more than one year from the date on which such
investments are made, are classified as current investments. All
other investments are classified as non-current investments.

On initial recognition, all investments are measured at cost. The
cost comprises purchase price and directly attributable acquisition
charges such as brokerage, fees and duties.

Current investments are carried in the financial statements at lower
of cost and fair value determined on an individual investment basis.
Long-term investments are carried at cost. However, provision for
diminutions in value is made to recognize a decline other than
temporary in the value of the investments.

On disposal of an investment, the difference between its carrying
amount and net disposal proceeds is charged or credited to the
statement of profit and loss.

8. Inventories :-

Company has no inventory during the year.

9. Borrowing cost:-

Borrowing costs that are attributable to the acquisition or
construction of the qualifying assets are capitalized as part of the
cost of such assets. A qualifying assets is one that necessarily
takes a substantial period of time to get ready for its intended uses
or sale. All other borrowing costs are charged to revenue in the year
of incurrence. The amount of borrowing cost capitalized during the
year is NIL.

10. Retirement Benefits:-

The retirement benefits are accounted for as and when liability
becomes due for payment.

11. Taxes on Income:-

Provision for current tax is made on the basis of estimated taxable
income for the current accounting year in accordance with the
Income Tax Act, 1961. The deferred tax for timing differences
between the book and tax profits for the year is accounted for, using
the tax rates and laws that have been substantively enacted by the
balance sheet date. Deferred tax assets arising from timing
differences are recognized to the extent there is virtual certainty
with convincing evidence that these would be realized in future. At
each Balance Sheet date, the carrying amount of deferred tax is
reviewed to reassure realization.

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Mar 31, 2024

Significant Accounting Policies

Basis of accounting:-

These financial statements have been prepared in accordance with
the Generally Accepted Accounting Principles in India (Indian
GAAP) including the Accounting Standards notified under Section
133 of the Companies Act, 2013, read with Rule 7 of the Companies
(Accounts) Rules, 2014 and the relevant provisions of the
Companies Act, 2013.

The financial statements have been prepared under the historical
cost convention on accrual basis.

Use of Estimates

The preparation of financial statements in conformity with Indian
GAAP requires the management to make judgments, estimates
and assumptions that affect the reported amounts of revenues,
expenses, assets and liabilities and the disclosure of contingent
liabilities, at the end of the reporting period. Although these
estimates are based on the management''s best knowledge of
current events and actions, uncertainty about these assumptions
and estimates could result in the outcomes requiring a material

adjustment to the carrying amounts of assets or liabilities in future
periods.

Revenue Recognition: -

Expenses and Income considered payable and receivable
respectively are accounted for on accrual basis.

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.

Property, Plant & Equipment :-

Property, Plant & Equipment including intangible assets are stated
at their original cost of acquisition including taxes, freight and other
incidental expenses related to acquisition and installation of the
concerned assets less depreciation till date.

Depreciation :-

Depreciation on Fixed Assets is provided to the extent of
depreciable amount on the SLM method. Depreciation is provided
based on useful life of the assets as prescribed in Schedule II to the
Companies Act, 2013.

Foreign currency Transactions: -

Transactions arising in foreign currencies during the year are
converted at the rates closely approximating the rates ruling on the
transaction dates. Liabilities and receivables in foreign currency
are restated at the year-end exchange rates. All exchange rate

differences arising from conversion in terms of the above are
included in the statement of profit and loss.

Investments :-

Investments, which are readily realizable and intended to be held
for not more than one year from the date on which such
investments are made, are classified as current investments. All
other investments are classified as non-current investments.

On initial recognition, all investments are measured at cost. The
cost comprises purchase price and directly attributable acquisition
charges such as brokerage, fees and duties.

Current investments are carried in the financial statements at lower
of cost and fair value determined on an individual investment basis.
Long-term investments are carried at cost. However, provision for
diminutions in value is made to recognize a decline other than
temporary in the value of the investments.

On disposal of an investment, the difference between its carrying
amount and net disposal proceeds is charged or credited to the
statement of profit and loss.

Inventories :-

Company has no inventory during the year.

Borrowing cost:-

Borrowing costs that are attributable to the acquisition or
construction of the qualifying assets are capitalized as part of the
cost of such assets. A qualifying assets is one that necessarily

takes a substantial period of time to get ready for its intended uses
or sale. All other borrowing costs are charged to revenue in the year
of incurrence. The amount of borrowing cost capitalized during the
year is Rs 0.

. Retirement Benefits:-

The retirement benefits are accounted for as and when liability
becomes due for payment.

Taxes on Income:-

Provision for current tax is made on the basis of estimated taxable
income for the current accounting year in accordance with the
Income Tax Act, 1961. The deferred tax for timing differences
between the book and tax profits for the year is accounted for, using
the tax rates and laws that have been substantively enacted by the
balance sheet date. Deferred tax assets arising from timing
differences are recognized to the extent there is virtual certainty
with convincing evidence that these would be realized in future. At
each Balance Sheet date, the carrying amount of deferred tax is
reviewed to reassure realization.