Accounting Policies of Ashwini Container Movers Ltd. Company

Mar 31, 2024

IB. BASIS OF PREPARATION

The Financial Statements have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP) under
the historical cost convention on an accrual basis in compliance with all material aspect of the accounting standard (AS) notified under
section 133 of The Companies Act, 2013 (the "Act'') read with rule 7 the companies (accounts) rules 2014. The Accounting Policies have
been consistently applied by the Company and are consistent with those used in the previous year.

IC. USE OF ESTIMATES

The Preparation of Financial Statements in conformity with the Accounting Standards generally accepted in India requires the
management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent
liabilities as at the date of the Financial Statements and reported amounts of revenues and expenses for the year. Actual results could
differ from these estimates. Any revision to accounting estimates is recognised prospectively in current and future periods. Management
believes that the estimates made in the preparation of financial statements are prudent and reasonable

ID. VALUATION OF INVENTORIES

There are no inventories in the company

IE. CASH AND CASH EQUIVALENTS (FOR PURPOSES OF CASH FLOW STATEMENT)

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an original maturity of
three months or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and
which are subject to insignificant risk of changes in value.

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 the available information.

IF. PROPERTY PLANT AND EQUIPMENT (PPE) AND IT’S DEPRECIATION:

PPE are stated at cost of acquisition or construction, purchase price and other attributable costs. Depreciation on PPE is charged on useful
life basis on Assets less accumulated depreciation as per rates prescribed under Schedule II of the Companies Act, 2013.

IG. IMPAIRMENT OF ASSETS

An asset is treated as impaired when the carrying cost of the asset exceeds its recoverable value. An impairment loss is charged to the
profit & loss account in the year in which an asset is identified as impaired. No such Impairment is envisaged during the year.

IH. INVESTMENTS

Non current investments are in form of Fixed Deposits kept with Banks.

II. REVENUE RECOGNITION

The Revenue for sale of services is being recognized on the basis of the terms and condition agreed with the client. Revenue is recognized
on the best certainty of realization and on completion of services. Amount disclosed as revenue are reported net applicable taxes which
are collected on behalf of the government.

11. PRIOR PERIOD & EXTRA ORDINARY ITEMS:

Income & Expenditure pertaining to prior period as well as extra ordinary items, where materials, affecting the operating results are
disclosed separately, however there are no prior period items.

IK. TAXES ON INCOME

Tax Expense comprises of Current and Deferred tax.

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 as of the balance sheet date. Deferred Tax Assets arising from timing differences are recognized to the
extent there is reasonable certainty that these would be realized in future.

Reason for increase in Deferred Tax Liablity of 2023-24 is because there is considerable addition to Fixed Assets

IL. LEASES

There are no Assets on Finance Lease