Accounting Policies of Ascensive Educare Ltd. Company

Mar 31, 2025

1. SIGNIFICANT ACCOUNTING POLICIES

1.01 BASIS OF ACCOUNTING AND 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) to comply with the Accounting Standards specified under Section
133 of the Companies Act, 2013 and the relevant provisions of the Companies Act, 2013 ("the 2013 Act"), as
applicable. The financial statements have been prepared on accrual basis under the historical cost convention.
The accounting policies adopted in the preparation of the financial statements are consistent with those followed
in the previous year.

Accounting policies not specifically referred to otherwise are consistent and in consonance with generally
accepted accounting principles in India.

All assets and liabilities have been classified as current or non-current as per the Company''s normal operating
cycle and other criteria set out in Schedule III to the Companies Act, 2013. Based on the nature of products and
the time between the acquisition of assets for processing and their realization in cash and cash equivalents, the
Company has determined its operating cycle as twelve months for the purpose of current - non-current
classification of assets and liabilities.

1.02 USE OF ESTIMATES

The preparation of the financial statements in conformity with Indian GAAP 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. The Management believes that the
estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ
due to these estimates and the differences between the actual results and the estimates are recognised in the
periods in which the results are known / materialise.

1.03 PROPERTY, PLANT & EQUIPMENT

All Fixed Assets are recorded at cost including taxes, duties, freight and other incidental expenses incurred in
relation to their acquisition and bringing the asset to its intended use.

1.04 DEPRECIATION / AMORTISATION
Tangible Assets:

Depreciable amount of assets is the cost of an asset, or other amount substituted for cost, less its estimated
residual value.

Depreciation on tangible fixed assets has been provided on the straight-line method as per the useful life
prescribed in Schedule II to the Companies Act, 2013.

Intangible assets

Website & Software is amortised over a period of six years on straight line method.

1.05 IMPAIRMENT OF ASSETS

An asset is treated as impaired when the carrying cost of asset exceeds its recoverable value. Recoverable
amount is the higher of an asset''s net selling price and its value in use. Value in use is the present value of
estimated future cash flows expected to arise from the continuing use of the asset and from its disposal at the
end of its useful life. Net selling price is the amount obtainable from sale of the asset in an arm''s length
transaction between knowledgeable, willing parties, less the costs of disposal. An impairment loss is charged to
the Statement of Profit and Loss in the year in which an asset is identified as impaired. The impairment loss
recognised in prior accounting periods is reversed if there has been a change in the estimate of the recoverable
value.

1.06 BORROWING COSTS

Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalised as part
of the cost of such assets. A qualifying asset is one that necessarily takes substantial period of time to get ready
for intended use. All other borrowing costs are charged to revenue.

---

Mar 31, 2024

1. SIGNIFICANT ACCOUNTING POLICIES

1.01 BASIS OF ACCOUNTING AND 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) to comply with the Accounting Standards specified under Section 133 of the Companies
Act, 2013 and the relevant provisions of the Companies Act, 2013 ("the 2013 Act"), as applicable. The financial statements
have been prepared on accrual basis under the historical cost convention. The accounting policies adopted in the preparation
of the financial statements are consistent with those followed in the previous year.

Accounting policies not specifically referred to otherwise are consistent and in consonance with generally accepted
accounting principles in India.

All assets and liabilities have been classified as current or non-current as per the Company''s normal operating cycle and
other criteria set out in Schedule III to the Companies Act, 2013. Based on the nature of products and the time between the
acquisition of assets for processing and their realization in cash and cash equivalents, the Company has determined its
operating cycle as twelve months for the purpose of current - non-current classification of assets and liabilities.

1.02 USE OF ESTIMATES

The preparation of the financial statements in conformity with Indian GAAP 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. The Management believes that the estimates used in preparation of the
financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences
between the actual results and the estimates are recognised in the periods in which the results are known / materialise.

1.03 PROPERTY, PLANT & EQUIPMENT

All Fixed Assets are recorded at cost including taxes, duties, freight and other incidental expenses incurred in relation to
their acquisition and bringing the asset to its intended use.

1.04 DEPRECIATION / AMORTISATION
Tangible Assets:

Depreciable amount of assets is the cost of an asset, or other amount substituted for cost, less its estimated residual value.

Depreciation on tangible fixed assets has been provided on the straight-line method as per the useful life prescribed in
Schedule II to the Companies Act, 2013.

Intangible assets

Website & Software is amortised over a period of six years on straight line method.

1.05 IMPAIRMENT OF ASSETS

An asset is treated as impaired when the carrying cost of asset exceeds its recoverable value. Recoverable amount is the
higher of an asset''s net selling price and its value in use. Value in use is the present value of estimated future cash flows
expected to arise from the continuing use of the asset and from its disposal at the end of its useful life. Net selling price is the
amount obtainable from sale of the asset in an arm''s length transaction between knowledgeable, willing parties, less the
costs of disposal. An impairment loss is charged to the Statement of Profit and Loss in the year in which an asset is identified
as impaired. The impairment loss recognised in prior accounting periods is reversed if there has been a change in the
estimate of the recoverable value.

1.06 BORROWING COSTS

Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalised as part of the cost
of such assets. A qualifying asset is one that necessarily takes substantial period of time to get ready for intended use. All
other borrowing costs are charged to revenue.