Accounting Policies of Befound Movement Ltd. Company

Mar 31, 2024

¹ Significant Accounting Policies

1.1 Basis of preparation of financial statements

The financial statements are prepared on going concern basis in accordance with Generally Accepted Accounting Principles in India (GAAP) and comply in all matenal
^A“°unting Standards specified under section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules 2014 and
Companies (Accounting Standards) Amendment Rules, 2016 and the relevant provisions of the Companies Act, 2013.

1.2 Historical Cost Convention

1.3 Use of estimates

^draur^^Mnttngent''llabllibM^T^Tth^dat^nf''th^ ™^ana9^eman'' ^{to make} estimates and assumptions that affect the reported amounts of assets and liabilities
from these estimates Anv reukinn t _h ^{da 6} °^{fthe financia} statements and the reported amount of revenue and expenses for the year. Actual results could differ
from these estimates. Any revision to such accounting estimates is recognized prospectively in current and future periods

1.4 Property, plant and equipment

1.5 Depreciation

ready for their intended^ LTcomputed on p^drata''b^fs''from''^^^Jtal^^utei^tin''ft d''t ^ f ^Af °^{eprecia,ion commen}ces when the assets are
of assets are same as those prescribed in Schedule II to the Act. ^ acquisition till the date of sale/ disposal. Management believes that useful life

1.6 Inventories

Inventories are valued at lower of cost or estimated net realisable value. As on 31s. March Company does no. have any inventory in its books

1.7 Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Comnanv

when the payment is being made. Revenue is measured at the fair value of the consideration received^ ^evfⁿ“® ^{can be rellab|}y measured, regardless of

account contractually defined terms and excluding taxes or duties collected on behalf of the government ^{b 6} °^{f dlscounts}'' ^{retums and} abates taking into

a) Sales are recognised when substantial risk and rewards of ownership are transferred tn rnstnm^r « „„ .

significant uncertainties regarding recovery of the amount due, associated costs or the possible return of g^d^ k""* °^{f C}°^{ntracL No revenue is} ^cognised if there are

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a) Company does not have any long term investment as on 31st March 2024.

pLis^r to dfmS oZr to tem''^ry1n“ e vaTuJ of'' sTc^s''^nf °" ^ ^indiVidUa''^{investment tesis}- Long-term investments are stated at cos. less

1.9 Borrowing costs

^tor-»“™— - - ¦“»«**.«»— -

1.10 Employee beneflU

(II) Post-employment Obligations
(I) Short-term Obligations

1.11 Accounting fortaxes on Income

1.12 Operating lease "

A.Where Co Is lessee - — <•

. ¦ *

Lease of assets under which all the risk and rewards of ownership are effectively retained hv the , .

operating leases are recognized as an expense on accrual basis in accorda^eni:mh“^e^s^ee^Sr_g^Ll^SSffied " ^{163568 Le3Se paymen,s und}-

B.Where Co Is lessor

Leases in which the Company does not transfer substantially all the risks and reward. nf u .

operating lease is recognised on a straight line basis over the term of the relevant lease ^h''^P °^{f an asset are} dassified as operating leases. Rental income from

1.13 Foreign currency transactions

transactions are recognised in the St^t^moTprofit anrLos^as^{in9 eXCha}"^{9e rates on ,he transactlon dates}- Realised gains and losses on settlement of foreign currency
the Statement of Profit an^ Loss^ ^ ^llab"^{itieS 3t the y6ar}''^{end are transla,ed at ,he} year-end exchange rates and the resultant exchange differences are recognised in

1.14 Earnings per share

^eTcJde³"⁶^"^ °^tanding during thTje^Ts''^u^^torlhreVT''?⁶ °* ^ ***''** ^0UtStandi"^{9 durin}9 *e year. The

.viden

-iCS ^{deriVin9 eamin9S} - — - - weigh,inversion Tf^aN

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Mar 31, 2015

(a) BASIS OF PRESENTATION OF FINANCIAL STATEMENTS:

The financial statements are prepared in accordance with generally accepted accounting principles in India under the historical cost convention and on accrual basis of accounting. These financial statement have been prepared to comply in all material aspects with the mandatory and applicable Accounting Standards as prescribed by the Companies (Accounting Standards) Rules, 2006, as amended and relevant provisions of the Companies Act, 2013(to the extent notified).

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 the Revised 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 ascertained its operating cycle as twelve months for the purpose of current non-current classification of assets and liabilities.

(b) USE OF ESTIMATES :

The presentation of Financial Statements requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of financial statements and the reported amount of revenue and expenses during the reporting period. Difference between the actual results and estimates are recognized in the period in which results are known/materialized.

(c) REVENUE RECOGNITION :

The company recognizes sale of products when they are invoiced to customers. Revenue in respect of other income is recognized when no significant uncertainty as to its determination or realization exists.

(d) FIXED ASSETS :

Fixed assets are stated at cost less accumulated depreciation. Cost for this purpose includes purchase price, non refundable taxes or levies and other directly attributable costs of bringing the assets to its working condition for its intended use.

(e) DEPRECIATION :

Depreciation is provided on Straight Line method at the rates specified II to the Companies Act, 2013. Depreciation is provided for on a pro-rata basis on the assets acquired, sold or disposed off during the year.

(F) TAXES ON INCOME :

(i) Current tax is determined as the amount of tax payable in respect of taxable income for the year.

(ii) Deferred tax is provided on all timing differences which are recognized during the period. Deferred Tax Asset is recognized only if there is a reasonable certainty on the realisability of the assets.

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Mar 31, 2014

A. Revenue Recognition

(i) Revenue from issue management services, loan syndication, financial advisory services etc., is recognised based on the stage of completion of assignements and terms of agreement with the client.

(ii) Gains and losses on dealing with securities & derivates are recognised on trade date.

b. Stock - in - trade (i.e. Inventories)

(i) The seciurities acquired with the intention of holding for short-term are classified as investment and securities acquired for trading are classified as stock-in-trade.

(ii) The securities held as stock in trade are valued at lower of cost arrived at on weighted average basis or market /fair value, computed category-wise. In case of investments transferred to stock-in-trade, carrying amount on the date of transfer is considered as cost. Commission earned om respect of securities acquired upon devolvement is reduced from the cost of acquisition. Fair value of unquoted shares is taken at break-up value of shares as per the latest audited Balance Sheet of the concerned company. In case of debt instruments, fair value is worked out on the basis of yield to maturity rate selected considering quotes where available and credit profile of the issuer and market related spreads over the government securities.

c. Investments

(i) The securities acquired with the intention of holding till maturity or for a longer period are classifed as investments.

(ii) Investments are carried at cost arrived at on weighted average basis. Commissions earned in respect of securities acquired upon development are reduced from the cost of acquisition. Appropriate provision is made for other than temporary diminution in the value of investments.

d. Fixed Assets and Depreciation

(i) Fixed Assets are stated at historical cost less accumulated depreciation and inpairment loss, if any, Cost comprises the purchase price and any attributable cost of bringing the assets to its working condition for intended use.

(ii) Depreciation on fixed assets is provided on Written Down Method at the rate and in the manner prescribed in Schedule XIV of the Companies Act, 1956

e. Taxation

Tax expenses comprises both current and deffered taxes. Current Income Tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. Deferred Income Tax reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. Deffered tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the Balance Sheet date. Deferred tax assets are recognised only to the extent that there is reasonable certainity that sufficient future taxable income will be available against which such deferred tax assets can be realised. Unrecognised deferred tax assets of the earlier years and re-assessed and recognised to the extent that it has become reasonably certain that future taxable income will be available against which such deferred tax assets can be realised.

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Mar 31, 2013

A. Revenue Recognition

(i) Revenue from issue management services, loan syndication, financial advisory services etc., is recognised based on the stage of completion of assignements and terms of agreement with the client.

(ii) Gains and losses on dealing with securities & derivates are recognised on trade date.

b. Stock - in - trade (i.e. Inventories)

(i) The seciurities acquired with the intention of holding for short-term are classified as investment and securities acquired for trading are classified as stock-in-trade.

(ii) The securities held as stock in trade are valued at lower of cost arrived at on weighted average basis or market / fair value, computed category-wise. In case of investments transferred to stock-in-trade, carrying amount on the date of transfer is considered as cost. Commission earned om respect of securities acquired upon development is reduced from the cost of acquisition. Fair value of unquoted shares is taken at break-up value of shares as per the latest audited Balance Sheet of the concerned company. In case of debt instruments, fair value is worked out on the basis of yield to maturity rate selected considering quotes where available and credit profile of the issuer and market related spreads over the government securities.

c. Investments

(i) The securities acquired with the intention of holding till maturity or for a longer period are classified as investments.

(ii) Investments are carried at cost arrived at on weighted average basis. Commissions earned in respect of securities acquired upon development are reduced from the cost of acquisition. Appropriate provision is made for other than temporary diminution in the value of investments.

d. Fixed Assets and Depreciation

(i) Fixed Assets are stated at historical cost less accumulated depreciation and impairment loss, if any, Cost comprises the purchase price and any attributable cost of bringing the assets to its working condition for intended use.

(ii) Depreciation on fixed assets is provided on Written Down Method at the rate and in the manner prescribed in Schedule XIV of the Companies Act, 1956

e. Taxation

Tax expenses comprises both current and deffered taxes. Current Income Tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. Deferred Income Tax reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. Deffered tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the Balance Sheet date. Deferred tax assets are recognised only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. Unrecognised deferred tax assets of the earlier years and re-assessed and recognised to the extent that it has become reasonably certain that future taxable income will be available against which such deferred tax assets can be realised.

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Mar 31, 2012

A. Revenue Recognition

(i) Revenue from issue management services, loan syndication, financial advisory services etc., is recognised based on the stage of completion of assienements and terms of agreement with the client.

(ii) Gains and losses on dealing with securities & derivates are recognized on trade date.

b. Stock - in - trade (i.e. Inventories)

(i) The securities acquired with the intention of holding for short-term are classified as investment and securities acquired for trading are classified as stock-in-trade.

(ii) The securities held as stock in trade are valued at lower of cost arrived at on weighted average basis or market / fair value, computed category-wise. In case of investments transferred to stock-in-trade, carrying amount on the date of transfer is considered as cost. Commission earned on respect of securities acquired upon devolvement is reduced from the cost of acquisition. Fair value of unquoted shares is taken at break-up value of shares as per the latest audited Balance Sheet of the concerned company. In case of debt instruments, fair value is worked out on the basis of yield to maturity rate selected considering quotes where available and credit profile of the issuer and market related spreads over the government securities.

c. Investments

(i) The securities acquired with the intention of holding till maturity or for a longer period are classified as investments.

(ii) Investments are carried at cost arrived at on weighted average basis. Commissions earned in respect of securities acquired upon development are reduced from the cost of acquisition. Appropriate provision is made for other than temporary diminution in the value of investments.

d. Fixed Assets and Depreciation

(i) Fixed Assets are stated at historical cost less accumulated depreciation and impairment loss, if any, Cost comprises the purchase price and any attributable cost of bringing the assets to its working condition for intended use.

(ii) Depreciation on fixed assets is provided on Written Down Method at the rate and in the manner prescribed in Schedule XIV of the Companies Act, 1956

e. Taxation

Tax expenses comprises both current and differed taxes. Current Income Tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. Deferred Income Tax reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. Differed tax is measured based on the tax rates and the tax laws enacted or

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Mar 31, 2010

(1) Revenue Recognition

(a) Revenue from issue management services, loan syndication, financial advisory services etc., is recognized based on the stage of completion of assignments and terms of agreement with the client.

(b) Gains and losses on dealing with securities & derivatives are recognized on trade date.

(ii) Stock-in-trade (i.e. Inventories)

(a) The securities acquired with the intention of holding for short-term are classified as investment and securities acquired for trading are classified as stock-in-trade.

(b) The securities held as stock-in-trade are valued at lower of cost arrived at on weighted average basis or market/ fair value, computed category-wise. In case of investments transferred to stock-in-trade, carrying - amount on the date of transfer is considered as cost. Commission earned in respect of securities acquired upon devolvement is reduced from the cost of acquisition. Fair value of unquoted shares is taken at break-up value of shares as per the latest audited Balance Sheet of the concerned company. In case of debt instruments, fair value is worked out on the basis of yield to maturity rate selected considering quotes where available and credit profile of the issuer and market related spreads over the government securities

(c) Discounted instruments like Commercial paper/treasury bills/zero coupon instruments are valued at carrying cost. The difference between the acquisition cost and the redemption value of discounted instruments is apportioned on a straight line basis for the period of holding arid recognized as Interest income.

(d) Units of mutual fund are valued at lower of cost and net asset value.

(iii) Investments

The securities acquired with the intention of holding till maturity or for a longer period are classified as investments, (b) Investments are carried at cost arrived at on weighted average basis. Commissions earned in respect of securities acquired upon devolvement are reduced from the cost of acquisition. Appropriate provision is made for other than temporary diminution in the value of investments.

(iv) Fixed Assets and Depreciation

(a) Fixed assets are stated at historical cost less accumulated depreciation and impairment loss, if any. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for intended use.

(b) Depreciation on fixed assets is provided on Written Down Method at the rate and in the manner prescribed in Schedule XIV of the Companies Act, 1956.

(v) Deferred Tut

Tax expense comprises both current and deferred taxes. Current income-tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. Deferred income tax reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the Balance Sheet date. Deferred tax assets are recognised only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. Unrecognised deferred tax assets of earlier years are re-assessed and recognised to the extent that it has become reasonably certain that future taxable income will be available against which such deferred tax assets can be realised.

(vi) Derivatives Transactions

(a) All open positions are marked to market.

(b) Gains are recognized only on settlement/expiry of the derivative instruments except for Interest Rate derivatives where even mark to-market gains are recognized.

(c) Receivables/payables on open position are disclosed as current assets/current liabilities, as the case may be.

(vii) Earning Per Share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting attributable taxes) by the weighted average number of equity shares outstanding during the period.

(viii) Compliance with Reserve Bank of India Prudential Norms

Income recognition, provisioning and assets classification are in accordance with norms prescribed by Reserve Bank of India from time to time.

Schedule to the Balance Sheet of a Non-deposit taking Non-Banking Financial Company as required in terms of Paragraph 13 of Non-Banking Financial (Non-Deposit Accepting or HoldingJCompanies. Prudential Norms (Reserve Bank) Directions 2007 :

a) Disclosure in respect of related party transaction :

(i) Borrower wise : Nil

(ii) Investor wise : Nil

b) Position of non-performing assets and business levels is lease and hire purchase and other activities:

(i) Equipment leasing : Nil

(ii) Hire Purchase Finance, Loan, Investment : Nil

c) Disclosure in respect of related parties pursuant to Accounting Standard 18:

a) List of related parties : NIL

b) List of Associates : NIL

c) During the year, no transaction was carried out with the related parties in the ordinary course of the business.

Other information :

a) Gross Non-performing assets with related parties : NIL

b) Gross Non-performing assets with other than related parties : NIL

c) Net Non-performing assets with related parties : NIL

d) Net Non-performing assets with other than related parties : NIL

e) Assets acquired in satisfaction of debt : NIL

Special Reserve

Consequent to the Reserve Bank of India (Amendment) Act, 1997 coming into force effective January 9, 1997 where in all Non-banking Companies are required to transfer a sum not less than 20 % of its .net profit after Tax to a special reserve wherever the net profit is adequately available, the company has duly complied with the RBI norms in this regards.