Accounting Policies of ACE Engitech Ltd. Company

Mar 31, 2025

Note 1 - Corporate Information and Significant Accounting Policies

1. Corporate Information

Ace Engitech Limited (formerly known as Prem Somani Financial Services Limited) (“the Company”) is a listed
public company incorporated in India under the provisions of the Companies Act, 1956 (now governed by
the Companies Act, 2013). The Company has its registered office at Flat No. 408, Second Floor, Anand
Chamber, Baba Harishchandra Marg, Raisar Plaza, Indira Bazar, Jaipur - 302001.

The Company is engaged in providing Information Technology (IT) services, which is a new business activity
adopted following a change in its business line.

2. Significant Accounting Policies, Assumptions and Notes

1.1 Statement of Compliance

These financial statements comprising the Balance Sheet, Statement of Profit and Loss, Statement of Changes
in Equity, Statement of Cash Flows together with notes, including a summary of significant accounting
policies and other explanatory information for the year ended 31st March 2025, have been prepared in
accordance with the Indian Accounting Standards (“Ind AS”) notified under the Companies (Indian
Accounting Standards) Rules, 2015, as amended, and other relevant provisions of the Companies Act,
2013.

1.2 Basis of Measurement

The financial statements have been prepared under the historical cost convention, except for certain financial
assets and liabilities which are measured at fair value in accordance with Ind AS 109 - Financial
Instruments.

The Company follows the accrual basis of accounting and recognizes items of income and expenditure on that
basis, except where uncertainties exist.

1.3 Functional and Presentation Currency

The financial statements are presented in Indian Rupees (INR), which is the Company’s functional currency.
All amounts have been rounded off to the nearest thousand, in accordance with Schedule III of the
Companies Act, 2013, unless otherwise stated.

1.4 Current and Non-Current Classification

The Company presents assets and liabilities in the Balance Sheet based on current/non-current classification
as required by Schedule III, Division II of the Companies Act, 2013.

• An asset is classified as current when:

o it is expected to be realised or intended to be sold or consumed in the normal operating cycle;

o it is held primarily for the purpose of trading;

o it is expected to be realised within twelve months after the reporting period; or

o it is cash or cash equivalent unless restricted from being 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 classified as current when:

o it is expected to be settled in the normal operating cycle;

o it is held primarily for the purpose of trading;

o it is due to be settled within twelve months after the reporting period; or

o the Company does not have an unconditional right to defer settlement of the liability for at

least twelve months after the reporting period.

All other liabilities are classified as non-current.

1.5 Concept of Materiality

Financial statements are prepared to present a true and fair view in compliance with Ind AS. Items that are
material, either individually or in aggregate, are disclosed separately.

1.6 Significant Accounting Policies

i. Property, Plant and Equipment (PPE)

PPE is stated at cost less accumulated depreciation and impairment losses, if any. Cost comprises
purchase price, non-refundable taxes, borrowing costs (if capitalization criteria are met), and directly
attributable expenses necessary to bring the asset to its working condition for intended use.

Subsequent expenditure is capitalised only when it increases future economic benefits from the related asset.
Other repair and maintenance costs are expensed as incurred.

An item of PPE is derecognised on disposal or when no future economic benefits are expected. Gains or losses
on derecognition are recognised in the Statement of Profit and Loss.

ii. Intangible Assets

The Company does not hold any intangible assets as at the reporting date.

iii. Depreciation
Depreciation is provided on a straight-line basis over the useful lives prescribed in Schedule II of the
Companies Act, 2013, as under:

Residual value of assets is generally considered at 5% of the original cost, unless management’s assessment
justifies a different value.

iv. Borrowing Costs

Borrowing costs directly attributable to the acquisition, construction, or production of qualifying assets
are capitalised as part of the cost of such assets. Other borrowing costs are recognised as expense in the
period in which they are incurred.

v. Inventories
The Company does not hold inventories as at the reporting date.

vi. Cash and Cash Equivalents

Cash and cash equivalents include cash in hand, balances with banks, cheques in hand, and short-term
deposits with original maturities of three months or less that are readily convertible into known amounts
of cash and subject to insignificant risk of changes in value.

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Mar 31, 2024

Note 1 - Corporate Information and Significant Accounting Policies

1. Corporate Information

Ace Engitech Limited (Formerly known as Prem Somani Financial Services Limited) ("the Company") provides IT services (New activity due to change in business line of the company)

The company is a listed company incorporated under the provisions of the Companies Act, 1956 (now Companies Act, 2013). The registered office of the Company is situated at flat No. 408, Second Floor, Anand Chamber, Baba Harishchandra Marg, Raisar Plaza, Indira Bajar Jaipur- 302001.

2. Significant Accounting Policies, Assumptions and Notes

1.1 Statement of Compliance

The financial statements comprising of the Balance Sheet, Statement of Profit and Loss, Statement of changes in equity, Statement of Cash Flow together with notes comprising a summary of Significant Accounting Policies and Other Explanatory Information for the year ended 31st March 2023 and comparative information in respect of the preceding period and Balance Sheet as on previous date, i.e. 31st March 2022 have been prepared in all material aspects in accordance with IND AS notified and duly approved by the Board of Directors, along with proper explanation for material departures.

1.2 Basis of Measurement

The Company follows mercantile system of accounting and recognizes significant items item of income and expenditure on accrual basis except those with significant uncertainties.

The financial statement have been prepared on the historical cost basis except for certain financial assets and liabilities that are measured at fair value (refer accounting policy regarding financial instruments)

1.3 Functional and presentation Currency

These financial statements are presented in Indian Rupees (INR), which is the company’s functional currency and all values are rounded to the nearest hundred

1.4 Current and non- current classifications

The Company presents assets and liabilities in statement of financial position based on cur rent/non-current classification.

The Company has presented non-current assets and current assets before equity, non- current liabilities, and current liabilities in accordance with Schedule III, Division II of Companies Act, 2013 notified by MCA.

An asset is classified as current when it is:

• Expected to be realised or intended to be sold or consumed in normal operating cycle,

• Held primarily for the purpose of trading,

• Expected to be realised within twelve months after the reporting period, or

• Cash or cash equivalent unless restricted from being 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 classified as current when it is:

• Expected to be settled in normal operating cycle,

• Held primarily for the purpose of trading,

Registered Office: Flat No. 408, Second Floor, Anand Chamber, Baba Harishchandra Marg, Raisar Plaza,

Indira Bazar, Jaipur-302001, Rajasthan

• Due to be settled within twelve months after the reporting period, or

• There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.

All other liabilities are classified as non-current,

1.5 Concept of Materiality

These financial statements are prepared on accrual basis of accounting and comply in all material aspects with the Indian accounting standards (Ind AS) notified under the companies (Indian accounting standard) Rules, 2015 (to the extent notified and applicable).

1.6 Significant accounting policies

A summary of the significant accounting policies applied in the preparation of the financial statement are as given below. These accounting policies have been applied consistently to all periods presented in the financial statements.

i. Property, Plant and Equipment

Property, plant and equipment are stated at acquisition cost (including incidental expenses directly attributable to bringing the asset to its working condition for its intended use) less accumulated depreciation and impairment losses, if any. Cost comprises the purchase price, non-refundable taxes or levies, borrowing costs if capitalization criteria are met and any attributable cost of bringing the asset to its working condition for its intended use. Subsequent expenditure related to PPE is capitalized only when it is probable that future economic benefits associated with these will flow to the Company and the cost of item can be measured reliably. Other repairs and maintenance costs are expensed off as and when incurred.

An item of property, plant and equipment and any significant part initially recognised is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on de-recognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of profit and loss when the asset is derecognised.

ii. Intangible Assets

Not applicable as no Intangible Asset are held by the Company during the year or at the reporting date.

iii. Depreciation/ Amortisation

Depreciation on property, plant and equipment''s is calculated on straight line basis. Depreciation is provided based on useful life of the assets as prescribed in Schedule II to the Companies Act, 2013 as under:

Particular	Useful Life (years)
Furniture and Fixtures	10
Computer and printer	3-6
Electrical installations	10
Office Equipment	5

(ERSTWHILE PREM SOMANI FINANCIAL SERVICES LIMITED)

CIN: -L72100RJ1991PLC006220 (Incorporated under the Companies Act, 1956)

Contact No. 9322666532, Email Id: [email protected] Website: https: //www.aceengitech.com

ANNUAL REPORT 2023-24

Salvage Value of the assets has been taken @5% of Original Cost (except intangible assets) as prescribed in Schedule II.

iv. Borrowing cost

Borrowing cost are recognized in the profit or loss account in the period in which they are incurred.

v. Inventories

Not Applicable as no inventories are held by the Company during the year or at the reporting date.

vi.Cash and Cash Equivalents

Cash and cash equivalents in the financial statements comprise cash at banks, Cash in hand, cheque in hand and short-term deposit with an original maturity of three months or less that are readily convertible to known amount of cash. vii. Provision

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 the obligation. The expense relating to any provision is presented in the statement of profit and loss net of any reimbursement. pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.

viii. Revenue recognition

Revenue is recognized to the extent that it probable that the economic benefits will flow to the Company, the revenue can be reliably measured and there exists reasonable certainty of its recovery.

a) Revenue from operation

• Revenue for fixed-price contracts is recognised using percentage-of completion method. The Company uses judgement to estimate the future cost-to-completion of the contracts which is used to determine degree of completion of the performance obligation.

b) Other Income

Other income from a financial asset is recognised when it is probable that the economic benefits will flow to the company and the amount of income can be measured reliably.

ix. Earnings per share

a) Basic earnings per share

Basic earnings per share Basic earnings per share is calculated by dividing the profit attributable to owners of the Company by the weighted average number of equities shares outstanding during the financial year, adjusted for bonus elements in equity shares issued during the year and excluding treasury shares if any.

b) Diluted earnings per share

Diluted earnings per share adjusts the figures used in the determination of basic earnings per share to take into account the after-income tax effect of interest and other financing costs associated with dilutive potential equity shares, and the weighted average number of

Registered Office: Flat No. 408, Second Floor, Anand Chamber, Baba Harishchandra Marg, Raisar Plaza,

Indira Bazar, Jaipur-302001, Rajasthan

additional equity shares that would have been outstanding assuming the conversion of all dilutive potential equity shares.

x. Tax Expenses

a) Current Tax

The income tax expense or credit for the period is the tax payable on the current period’s taxable income based on the applicable income tax rate adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses.

b) Deferred Tax

The Company has not provided for deferred taxes with respect to differences between income for financial reporting purpose and tax purpose since there are many carry forward losses and these losses are not expected to be cleared in coming years.

xi. Use of estimates, assumption and judgment-

a. The operating cycle is the time between the acquisition of assets for processing and their realization in cash or cash.

b. The preparation of the financial statements in conformity with recognition and measurement principles of Ind AS requires the Management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year.

c. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which estimates are revised if the revision affects only that period or in the period of the revision and future

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Mar 31, 2014

1.1 Basis of Preparation of Financial Statements:

The Financial Statements are consistently prepared under the historical cost convention, on the accrual basis of accounting and comply with the accounting standard issued by the Institute of Chartered Accountants of India (to the extent applicable) and in accordance with the generally accepted accounting principles, the accounting standard specified in the Companies (Accounting Standards) Rules, 2006 notified by the Central Government and other provision of the Companies Act, 1956.

1.2 Use of Estimates:

The preparation of financial statements in conformity with the generally accepted accounting principles requires the management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in accompanying financial statements are based upon management''s evaluation of relevant facts and circumstances as of the date of the financial statements. Actual results may differ from the estimates and assumptions used in preparing the accompanying financial statements. Any differences of actual results to such estimates are recognized in the period in which the results are known/ materialized.

1.3 Revenue recognition:

a) Interest income is recognized on accrual basis before the assets becomes NPA. However, during the year under review no loan/advance has been classified as NPA.

b) Dividend income is recognized when the right to receive the payment is established.

1.4 Fixed assets and Depreciation:

Fixed Assets are stated at cost less accumulated depreciation thereon. The cost of fixed assets '' comprises cost of acquisition and any attributable cost of bringing the asset to its working condition for its intended use. The company provides pro-rata deprecation from the date on which assets is . acquired / put to use. In respect of assets sold, pro-rata deprecation is provided upto the date on which assets is sold.

On all assets except below depreciation has been provided on Written down value Method as prescribed in Schedule XIV to the Companies Act, 1956.

a) Assets costing Rs. 5000/- or less are fully depreciated in the year of purchase

b) Improvements to leased assets are depreciated overthe period of lease.

1.5 Investments:

The investments are made to enhance the company business interest. All investments held by the Company are classified as currents or non-current, based on management intention at the time of purchase. Long-term investments are carried on the cost.

1.6 Impairment of Assets:

Management periodically assesses using, external, and internal'' sources, whether there is an indication that an asset may be impaired. Impairment occurs where the carrying value exceeds the present value of future cash flows expected to arise from the continuing use of the asset and its eventual disposal. The impairment loss to be expensed is determined as the excess of the carrying amount over the higher of the asset''s net sales price or present value as determined above. During the year under consideration, there was no indication, either internal or external as to the impairment of any of the assets. .

1.7 Taxation:

Income Tax expenses comprises current tax (i.e. amount of tax for the period determined in accordance with the income-tax law), deferred tax charge or credit (reflecting the tax effect of timing differences between accounting income and taxable income for the period).

Current Tax:

Provision for current tax is made on the basis of estimated taxable income for the accounting year in accordance with the Income Tax Act, 1961.

Deferred Tax:

Deferred Tax, as required in AS-22 issued by ICAI is recognized subject to consideration of prudence in respect of deferred tax assets, on timing differences being the difference between taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

1.8 Provision for Contingencies:

The Company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. When there is a possible obligation ora present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate. If it is no longer probable that the outflow of resources would be required to settle the obligation, the provision is reversed.

Contingent assets are not recognized in the financial statements. However, contingent assets are assessed continually and if it is virtually certain that an economic benefit will arise, the asset, and related income are recognized in the period in which the change occurs.

1.9 Earning per share:

The company reports earning per share in accordance with Accounting Standard AS-20 issued by The Institute of Chartered Accountants of India (ICAI). It has been computed by dividing net profit aftertax by the weighted average number of equity shares outstanding during the year.

1.10 Cash Flow Statement:

Cash flow are reported using the indirect method, thereby profit before tax is adjusted for the effects of transactions of a non- cash nature and any deferrals or accruals of past of future cash receipts or payments. The cash flows from regular revenue generating financing and investing activities of the company are segregated.

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Mar 31, 2013

1.1 Basis of Preparation of Financial Statements:

The Financial Statements are consistently prepared under the historical cost convention, on the accrual basis of accounting and comply with the accounting standard issued by the Institute of Chartered Accountants of India (to the extent applicable) and in accordance with the generally accepted accounting principles, the accounting standard specified in the Companies (Accounting Standards) Rules, 2006 notified by the Central Government and other provision of the Companies Act, 1956.

1.2 Use of Estimates:

The preparation of financial statements in conformity with the generally accepted accounting principles requires the management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in accompanying financial statements are based upon management''s evaluation of relevant facts and circumstances as of the date of the financial statements. Actual results may differ from the estimates and assumptions used in preparing the accompanying financial statements. Any differences of actual results to such estimates are recognized in the period in which the results are known/ materialized.

1.3 Revenue recognition:

a) Interest income is recognized on accrual basis.

b) Dividend income is recognized when the right to receive the payment is established.

1.4 Fixed assets and Depreciation:

Fixed Assets are stated at cost less accumulated depreciation thereon. The cost of fixed assets comprises cost of acquisition and any attributable cost of bringing the asset to its working condition for its intended use. The company provides pro-rata deprecation from the date on which assets is acquired / put to use. In respect of assets sold, pro-rata deprecation is provided upto the date on which assets is sold.

On all assets except below depreciation has been provided on Written down value Method as prescribed in Schedule XIV to the Companies Act, 1956.

a) Assets costing Rs. 5000/- or less are fully depreciated in the year of purchase

b) Improvements to leased assets are deprecated over the period of lease.

1.5 Investments:

The investments are made to enhance the company business interest. All investments held by the Company are classified as short term or long term, based on management intention at the time of purchase. Long-term investments are carried on the cost.

1.6 Income in respect of Non Performing Assets:

Income is not recognized in respect of non-performing Assets as per the guidelines on prudential norms prescribed by the RBI. The Company has made provision against NPA as per the guidelines on prudential norms prescribed by RBI.

1.7 Impairment of Assets:

Management periodically assesses using, external, and internal sources, whether there is an indication that an asset may be impaired. Impairment occurs where the carrying value exceeds the present value of future cash flows expected to arise from the continuing use of the asset and its eventual disposal. The impairment loss to be expensed is determined as the excess of the carrying amount over the higher of the asset''s net sales price or present value as determined above. During the year under consideration, there was no indication, either internal or external as to the impairment of any of the assets.

1.8 Taxation:

Income Tax expenses comprises current tax (i.e. amount of tax for the period determined in accordance with the income-tax law), deferred tax charge or credit (reflecting the tax effect of timing differences between accounting income and taxable income for the period) and fringe benefit tax.

Current Tax:

Provision for current tax is made on the basis of estimated taxable income for the accounting year in accordance with the Income Tax Act, 1961.

Deferred Tax:

Deferred Tax, as required in AS-22 issued by ICAI is recognized subject to consideration of prudence in respect of deferred tax assets, on timing differences being the difference between taxable incomes and accounting income that originate in one period and are capable of reversal in one or more * subsequent periods.

1.9 Provision for Contingencies:

The Company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. When there is a possible -, obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate. If it is no longer probable that the outflow of resources would be required to settle the obligation, the provision is reversed.

Contingent assets are not recognized in the financial statements. However, contingent assets are assessed continually and if it is virtually certain that an economic benefit will arise, the asset, and related income are recognized in the period in which the change occurs.

1.10 Earning per share:

The company reports earning per share in accordance with Accounting Standard AS-20 issued by The Institute of Chartered Accountants of India (ICAI). It has been computed by dividing net profit after tax by the weighted average number of equity shares outstanding during the year.

1.11 Cash Flow Statement:

Cash flow are reported using the indirect method, thereby profit before tax is adjusted for the effects of transactions of a non- cash nature and any deferrals or accruals of past of future cash receipts or payments. The cash flows from regular revenue generating financing and investing activities of the company are segregated.

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Mar 31, 2010

1.1 Basis of Preparation of Financial statement:

The Financial Statements are consistently prepared under the historical cost convention, on the accrual basis of accounting and comply with the accounting standard issued by the Institute of Chartered Accountants of India (to the extent applicable) and in accordance with the generally accepted accounting principles, the accounting standard specified in the Companies (Accounting Standards) Rules, 2006 notified by the Central Government and other provision of the Companies Act, 1956.

1.2 Use of Estimates:

The preparation of financial statements in conformity with the generally accepted accounting principles requires the management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in accompanying financial statements are based upon managements evaluation of relevant facts and circumstances as of the date of the financial statements. Actual results may differ from the estimates and assumptions used in preparing the accompanying financial statements. Any differences of actual results to such estimates are recognized in the period in which the results are known/materialized.

1.3 Revenue recognition:

a) - Interest income is recognized on accrual basis

b) Dividend income is recognized when the right to receive the payment is established.

1.4 Fixed assets and Depreciation:

Fixed Assets are stated at cost less accumulated depreciation thereon. The cost of fixed assets comprises cost of acquisition and any attributable cost of bringing the asset to its working condition for its intended use. The company provides pro-rata deprecation from the date on v/hich assets is acquired / put to use. In respect of assets sold, pro-rata deprecation is provided upto the date on which assets is sold. On all assets except below depreciation has been provided on Written down Method as prescribed in Schedule XIV to the CompaniesAct 1956.

a) Assets costing Rs. 5000/- or less are fully deprecated intheyear of purchase

b) Improvements to leased assets are deprecated over the period of lease.

1.5 Investments:

The investments are made to enhance the company business interest. All investments held by the Company are classified as short term or long term, based on management intention at the time of purchase.

Long-term investments are carried on the cost and provision is made in the case of permanent diminution in the market value of Investments.

Current in vestments are valued at cost or market/fair value, which ever is lower.

1.6 Income in respect of Non Performing Assets:

Income is not recognized in respect of non-performing Assets as per the guidelines on prudential norms prescribed by the RBI. The Company has made provision against NPAas per the guidelines on prudential norms prescribed by RBI.

1.7 Impairment of Assets:

Management periodically assesses using, external, and internal sources, whether there is an indication that an asset may be impaired. Impairment occurs where the carrying value exceeds the present value of future cash flows expected to arise from the continuing use of the asset and its eventual disposal. The impairment loss to be expensed is determined as the excess of the carrying amount over the higher of the assets net sales price or present value as determined above. During the year under consideration, there was no indication, either internal or external as to the impairment of any of the assets.

1.8 Taxation:

Income Tax expenses comprises current tax (i.e. amount of tax for the period determined in accordance with theincome-tax law), deferred tax charge or credit (reflecting the tax effect of timing differences between accounting income and taxable income forthe period) and fringe benefit tax.

Current Tax:

Provision for current tax is made on the basis of estimated taxable income for the accounting year in accordance with the Income TaxAct, 1961.

Deferred Taxation:

Deferred Tax, as required in AS-22 issued by ICAI is recognized subject to consideration of prudence in respect of deferred tax assets, on timing differences being the difference between taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

1.9 Provision for Contingencies:

The Company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate. If it is no longer probable that the outflow of resources would be required to settle the obligation, the provision is reversed.

Contingent assets are not recognized in the financial statements. However, contingent assets are assessed continually and if it is virtually certain that an economic benefit will arise, the asset, and related income are recognized in the period in which the change occurs.

1.10 Preliminary Expenses:

Preliminary Expenses have been amortized in accordance with Sec 35D of the Income Tax Act, 1961.

1.11 Earning per share:

The company reports earning per share in accordance with Accounting Standard AS-20 issued by The Institute of Chartered Accountants of India (ICAI). It has been computed by dividing net profit after tax by the weighted average number of equ ity shares outstanding during the year.

1.12 Cash Flow Statement

Cash flow are reported using the indirect method, thereby profit before tax is adjusted for the effects of transactions of a non- cash nature and any deferrals or accruals of past of future cash receipts or payments. The cash flows from regular revenue generating financing and investing activities of the company are segregated.