Accounting Policies of Apollo Ingredients Ltd. Company

Mar 31, 2025

1. Basis of Preparation and Presentation of Financial Statements -

The financial statements are prepared on accrual basis under the historical cost convention,
except for certain fixed assets which are carried at revalued amounts.

2. Use of Estimates -

The preparation of financial statement is in conformity with the generally accepted accounting
principles those requires management to make estimates and assumptions that affect the
reported amount of assets and liabilities and disclosure of contingent liabilities at the date of
the financial statements and the reported amount of revenues and expenditures during the
reporting year. Difference between the actual result and estimates are recognized in the year in
which the results are known / materialized. The management believes that the estimates used
in preparation of financial statements are prudent and reasonable.

3. Fixed Assets -

3.01 Tangible Assets :

Tangible Assets are stated at cost net of recoverable taxes, trade discounts and rebates and
includes amount added on revaluation, less accumulated depreciation and impairment loss.
The cost of Tangible Assets comprises cost of acquisition and other incidental expenses
related to acquisition and installation. Insurance and Direct expenses during construction
period are capitalised, if appropriate, on pro-rata basis.

Subsequent expenditures related to an item of Tangible Assets are added to its book value
only if they increase the future benefits from the existing assets beyond its previously
assessed standard of performance.

Projects under which assets are not ready for their intended use are disclosed under Capital
Work in Progress.

3.02 Depreciation on Fixed Assets except freehold land is provided to the extent of depreciable
amount on the Written Down Value 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
those Assets where useful life as estimated by the Board of Directors is different than those
prescribed in Schedule II to the Companies Act. 2013. In respect of those assets where useful
life has not been prescribed in Schedule II of the Companies Act, the useful life as estimated
by the Board of Directors is considered for the calculation of Depreciation.

4. Borrowings Costs -

Borrowing cost directly attributable to the acquisition, construction or production of an asset that
necessarily takes a substantial period of time to get ready for its intended use is capitalized as part of
the cost of that assets. Other costs are charged to Profit and Loss Account.

5. Investments -

5.01 Non Current investment are stated at cost. Provision for diminution in the value of non current
investments is made only if such a decline is other than temporary.

5.02 Current investments are carried at the lower of cost and fair value determined by category of
the particular investment.

6. Revenue Recognition -

Revenue from sales effected directly, is recognised on issue of invoices (on delivery of goods)
except sales on consignment.

7. Employee Benefits -

a) The liability for the Gratuity and Superannuation Fund is not provided in the Accounts.

b) As informed by the management, the liability for the Gratuity and Superannuation Fund
are adhoc benefits and hence will be accounted for on pay-as-you-go basis as per
Accounting Standard 15.

8. Taxes on Income -

a) Current Income Tax is determined in respect of relative taxable amount for the period.

b) Deferred tax is recognised, subject to the consideration of prudence, on timing
differences, being the difference between taxable income and accounting income that
originate in one period and are capable of reversal in one or more subsequent period.

Deferred tax assets are not recognised on unabsorbed depreciation and carry forward of
losses, unless there is virtual certainty that sufficient future taxable income will be
available against which such deferred tax assets can be realised.

c) Company’s normal tax liabilities are more than the liability calculated under the MAT
and hence no occasion for recognizing the credit of Mat liabilities.

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Mar 31, 2024

A) Significant Accounting Policies:

1. Basis of Preparation and Presentation of Financial Statements -

The financial statements are prepared on accrual basis under the historical cost
convention, except for certain fixed assets which are carried at revalued amounts.

2. Use of Estimates -

The preparation of financial statement is in conformity with the generally accepted
accounting principles those requires management to make estimates and assumptions
that affect the reported amount of assets and liabilities and disclosure of contingent
liabilities at the date of the financial statements and the reported amount of revenues
and expenditures during the reporting year. Difference between the actual result and
estimates are recognized in the year in which the results are known / materialized. The
management believes that the estimates used in preparation of financial statements are
prudent and reasonable.

3. Fixed Assets -

3.01 Tangible Assets :

Tangible Assets are stated at cost net of recoverable taxes, trade discounts and rebates
and includes amount added on revaluation, less accumulated depreciation and
impairment loss. The cost of Tangible Assets comprises cost of acquisition and other
incidental expenses related to acquisition and installation. Insurance and Direct
expenses during construction period are capitalised, if appropriate, on pro-rata basis.

Subsequent expenditures related to an item of Tangible Assets are added to its book
value only if they increase the future benefits from the existing assets beyond its
previously assessed standard of performance.

Projects under which assets are not ready for their intended use are disclosed under
Capital Work in Progress.

3.02 Depreciation on Fixed Assets except freehold land is provided to the extent of
depreciable amount on the Written Down Value 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 those Assets where useful life as estimated by the Board of
Directors is different than those prescribed in Schedule II to the Companies Act.
2013. In respect of those assets where useful life has not been prescribed in Schedule
II of the Companies Act, the useful life as estimated by the Board of Directors is
considered for the calculation of Depreciation.

4. Borrowings Costs -

Borrowing cost directly attributable to the acquisition, construction or production of an asset
that necessarily takes a substantial period of time to get ready for its intended use is
capitalized as part of the cost of that assets. Other costs are charged to Profit and Loss
Account.

5. Investments -

5.01 Non Current investment are stated at cost. Provision for diminution in the value of
non current investments is made only if such a decline is other than temporary.

5.02 Current investments are carried at the lower of cost and fair value determined by
category of the particular investment.

6. Revenue Recognition -

Revenue from sales effected directly, is recognised on issue of invoices (on delivery
of goods) except sales on consignment.

7. Employee Benefits -

a) The liability for the Gratuity and Superannuation Fund is not provided in the
Accounts.

b) As informed by the management, the liability for the Gratuity and Superannuation
Fund are adhoc benefits and hence will be accounted for on pay-as-you-go basis
as per Accounting Standard 15.

8. Taxes on Income -

a) Current Income Tax is determined in respect of relative taxable amount for the period.

b) Deferred tax is recognised, subject to the consideration of prudence, on timing
differences, being the difference between taxable income and accounting income
that originate in one period and are capable of reversal in one or more subsequent
period. Deferred tax assets are not recognised on unabsorbed depreciation and
carry forward of losses, unless there is virtual certainty that sufficient future
taxable income will be available against which such deferred tax assets can
be realised.

c) Company’s normal tax liabilities are more than the liability calculated under the
MAT and hence no occasion for recognizing the credit of Mat liabilities.

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Mar 31, 2014

1.1 i) Basis of accounting:

Generally mercantile system of accounting is followed.

ii) Investments:

a) Investments being long term in nature are valued at cost of acquisition and related expenses such as brokerage and stamp duties.

b) Temporary fall in market value of investment are not provided for

iii) Revenue recognition:

a) Interest income is recognised on a time proportion basis depending upon amount outstanding and the rate applicable.

b) Dividend Income is treated on receipt basis.

c) Sales of shares and debentures are recognised on execution of date of order and Profit/Loss on Sale is considered on identification method basis.

d) Sales is recognized on bill to customers.

iv) a) Fixed Assets are stated at cost of acquisition less depreciation.

b) The depreciation on fixed assets is charged on Written Down Value basis as per rates prescribed in Schedule XIV of Companies Act, 1956.

1.2 In the opinion of the Board, Current Assets, Loans and Advances are approximately of the value stated if realized in the ordinary course of business.

1.3 The Company has mainly activity of trading in commodities except long term investments in shares. Hence income from them and Assets & Liabilities are considered only one segment therefore, Disclosure of segment reporting pursuant to AS - 17 issued by the ICAI is not required.

1.4 In view of applicability of AS - 22, company does not have material deferred liability. Therefore the same is not recognized in the accounts.

1.5 Pursuant to requirement of AS - 18 issued by ICAI the details of transactions carried out during the year with the related parties are disclosed as under

Sr. Name of Party Relationship Nature of Amount No. Transaction (Rs.)

i) Tania Industries Associate Co. Interest Received 2394117 Pvt. Ltd. (3066333)

Purchases 53768952 (61398163)

Advances outstanding 9915454 31/03/14 (9356105)

1.6 No provision for diminutions in market value of investments of Rs. 1939984/-has been made during the year as management is of the opinion that the same is temporary in nature and Investment is considered as long term. Hence no provision is required.

1.7 Sundry debits/credit balances are subject to confirmation and reconciliation if any.

1.8 Accounting Standard by ICAI Earning per Share is calculated as follows:

2013-2014 2012-2013

a) Net Profit available after tax (In Rupees) 1180976 2961852

b) Weighted average number of Equity Shares 200000 200000

c) Basic & Diluted Earning per Share (In Rupees) 5.90 14.81

1.9 Additional Information to be given pursuant to para 3 & 4 of the part II of Schedule VI of the Companies Act, 1956, are not applicable.

1.10 Figures of the previous year have been rearranged and/or regrouped wherever necessary to conform to current year''s presentation.

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Mar 31, 2012

I) Basis of accounting:

Generally mercantile system of accounting is followed.

ii) Investments:

a) Investments being long term in nature are valued at cost of acquisition and related expenses such as brokerage and stamp duties.

b) Temporary fall in market value of investment are not provided for

iii) Revenue recognition:

a) Interest income is recognised on a time proportion basis depending upon amount outstanding and the rate applicable.

b) Dividend Income is treated on receipt basis.

c) Sales of shares and debentures are recognised on execution of date of order and Profit/Loss on Sale is considered on identification method basis.

d) Sales are recognized on bill to customers.

iv) a) Fixed Assets are stated at cost of acquisition less depreciation.

b) The depreciation on fixed assets is charged on Written Down Value basis as per rates prescribed in Schedule XIV of Companies Act, 1956.

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Mar 31, 2011

I) Basis of accounting:

Generally mercantile system of accounting is followed.

ii) Investments:

a) Investments being long term in nature are valued at cost of acquisition and related expenses such as brokerage and stamp duties.

b) Temporary fall in market value of investment are not provided for

iii) Revenue recognition:

a) Interest income is recognised on a time proportion basis depending upon amount outstanding and the rate applicable.

b) Dividend Income is treated on receipt basis.

c) Sales of shares and debentures are recognised on execution of date of order and Profit/Loss on Sale is considered on identification method basis.

d) Income of commodities derivatives is recognised on completion of contract.

e) Sales is recognized on bill to customers.

iv) a) Fixed Assets are stated at cost of acquisition less depreciation.

b) The depreciation on fixed assets is charged on Written Down Value basis as per rates prescribed in Schedule XIV of Companies Act, 1956.

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Mar 31, 2010

I) Basis of accounting:

Generally mercantile system of accounting is followed.

ii) Investments:

a) Investments being iong term in nature are valued at cost of acquisition and related expenses such as brokerage and stamp duties.

b) Temporary fall in market value of investment are not provided for

iii) Revenue recognition:

a) Interest income is recognised on a time proportion basis depending upon amount outstanding and the rate applicable.

b) Dividend Income is treated on receipt basis.

c) Sales of shares and debentures are recognised on execution of date of order and Profit/Loss on Sale is considered on identification method basis.

d) Income of commodities derivatives is recognised on completion of contract.

e) Sales is recognized on bill to customers.

iv) a) Fixed Assets are stated at cost of acquisition less depreciation.

b The depreciation on fixed assets is charged on Written Down Value basis as per rates prescribed in Schedule XIV of Companies Act, 1956.

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Mar 31, 2009

I) Basis of accounting:

Generally mercantile system of accounting is followed.

ii) Investments:

a) Investments being long term in nature are valued at cost of acquisition and related expenses such as brokerage and stamp duties.

b) Temporary fall in market value of investment are not provided for

iii) Revenue recognition:

a) Interest income is recognised on a time proportion basis depending upon amount outstanding and the rate applicable.

b) Dividend Income is treated on receipt basis.

c) Sales of shares and debentures are recognised on execution of date of order and Profit/Loss on Sale is considered on identification method basis.

d) Income of commodities derivatives is recognised on completion of contract.

e) Sales is recognized on bill to customers.

iv) a) Fixed Assets are stated at cost of acquisition less depreciation.

b) The depreciation on fixed assets is charged on Written Down Value basis as per rates prescribed in Schedule XIV of Companies Act, 1956.