Accounting Policies of CP Capital Ltd. Company

Mar 31, 2025

Material Accounting Policies

(i) Foreign Currency Transactions

The exchange differences arising on settlement of
monetary items are recognised as income or expenses in
the year in which they arise.

(ii) Financial Instruments

A financial instrument is any contract that gives rise to a
financial asset of one entity and a financial liability or
equity instrument of another entity.

A financial assets or a liability is recognised when the
Company becomes a Party to the contractual provision
of the instrument.

(A) Financial assets

Financial assets include cash, or an equity instrument of
another entity, or a contractual right to receive cash or

another financial asset from another entity. Few
examples of financial assets are loan receivables,
investment in equity instruments, trade receivables and
cash and cash equivalents etc.

Initial Measurement

All financial assets are recognised initially at fair value
including transaction costs that are attributable to the
acquisition of financial assets except in the case of
financial assets recorded at FVTPL where the
transaction costs are charged to profit or loss. However,
trade receivables that do not contain a significant
financing component are measured at transaction price.
Subsequent measurement

(i) Classification and Measurement of Financial assets
(other than Equity instruments)

For the purpose of subsequent measurement, financial
assets (other than equity instruments) are classified into
three categories:

(a) Financial Assets at amortised cost

(b) Financial Assets at FVOCI

(a) Financial Assets at amortised cost

The Company measures its financial assets at amortised

cost if both the following conditions are met:

â¢ The asset is held within a business model of collecting
contractual cash flows; and

â¢ Contractual terms of the asset give rise on specified
dates to cash flows that are Sole Payments of Principal
and Interest (SPPI) on the principal amount outstanding.

To make the SPPI assessment, the Company applies
judgment and considers relevant factors such as the
nature of portfolio and the period for which the interest
rate is set.

The Company determines its business model at the level
that best reflects how it manages groups of financial
assets to achieve its business objective. The Company''s
business model is not assessed on an instrument by
instrument basis, but at a higher level of aggregated
portfolios. If cash flows after initial recognition are
realised in a way that is different from the Company''s
original expectations, the Company does not change the
classification of the remaining financial assets held in
that business model, but incorporates such information
when assessing newly originated financial assets going
forward.

The business model of the Company for assets
subsequently measured at amortised cost category is to
hold and collect contractual cash flows. However,
considering the economic viability of carrying the
delinquent portfolios in the books of the Company, it may
sell these portfolios to banks and/or asset
reconstruction companies.

After initial measurement, such financial assets are
subsequently measured at amortised cost on effective

interest rate (EIR).

(b) Financial Assets at FVOCI

The Company subsequently classifies its financial
assets as FVOCI, only if both of the following criteria are
met:

â¢ The objective of the business model is achieved both by
collecting contractual cash flows and selling the
financial assets; and

â¢ Contractual terms of the asset give rise on specified
dates to cash flows that are Solely Payments of Principal
and Interest (SPPI) on the principal amount outstanding.
Financial Assets included within the FVOCI category are
measured at each reporting date at fair value with such
changes being recognised in other comprehensive
income (OCI). The interest income on these assets is
recognised in profit or loss.

On de-recognition of the asset, cumulative gain or loss
previously recognised in OCI is reclassified to profit or
loss.

The Company classifies financial assets which are held
for trading under FVTPL category. Held for trading
assets are recorded and measured in the Balance Sheet
at fair value. Interest and dividend incomes are recorded
in interest income and dividend income, respectively
according to the terms of the contract, or when the right
to receive the same has been established. Gain and
losses on changes in fair value of financial assets are
recognised on net basis through profit or loss.

(ii) Classification and Measurement of Equity instruments
All equity investments other than in subsidiaries are
measured at fair value. Equity instruments which are
held for trading are classified as at FVTPL. For all other
equity instruments, the Company at initial recognition
makes an irrevocable election to classify it as either
FVTOCI or FVTPL. The Company makes such election on
an instrument by instrument basis. An equity investment
classified as FVTOCI is initially measured at fair value
plus transaction costs. Subsequently, it is measured at
fair value and, all fair value changes are recognised in
Other Comprehensive Income (OCI) and accumulated in
Reserve. There is no recycling of the amounts from OCI
to Statement of Profit and Loss, even on sale of
investment. However, the Company transfers the same
within equity.

(iii) De-recognition of Financial Assets

The Company derecognises a financial asset (or, where
applicable, a part of a financial asset) when:

â¢ The right to receive cash flows from the asset have
expired; or

â¢ The Company has transferred its right to receive cash
flows from the asset or has assumed an obligation to pay
the received cash flows in full without material delay to a
third party under an assignment arrangement and the
Company has transferred substantially all the risks and
rewards of the asset. Once the asset is derecognised, the
Company does not have any continuing involvement in
the same.

The Company transfers its financial assets through the
partial assignment route and accordingly derecognises

the transferred portion as it neither has any continuing
involvement in the same nor does it retain any control. If
the Company retains the right to service the financial
asset for a fee, it recognises either a servicing asset or a
servicing liability for that servicing contract. A service
liability in respect of a service is recognised at fair value
if the fee to be received is not expected to compensate
the Company adequately for performing the service. If
the fees to be received is expected to be more than
adequate compensation for the servicing, a service
asset is recognised for

the servicing right at an amount determined on the basis
of an allocation of the carrying amount of the larger
financial asset.

On de-recognition of a financial asset in its entirety, the
difference between:

â¢ the carrying amount (measured at the date of deÂ¬
recognition) and

â¢ the consideration received (including any new asset
obtained less any new liability assumed) is recognised in
profit or loss.

(iv) Impairment of financial assets

Expected Credit Loss (ECL) are recognised for financial
assets held under amortised cost, measured at FVOCI, and
certain loan commitments.

Financial assets where no significant increase in credit risk
has been observed are considered to be in âstage 1'' and for
which a 12-month ECL is recognised. Financial assets that
are considered to have significant increase in credit risk are
considered to be in âstage 2'' and those which are in default or
for which there is an objective evidence of impairment are
considered to be in âstage 3''. Lifetime ECL is recognised for
stage 2 and stage 3 financial assets.

At initial recognition, allowance (or provision in the case of
loan commitments) is required for ECL towards default
events that are possible in the next 12 months, or less, where
the remaining life is less than 12 months.

In the event of a significant increase in credit risk, allowance
(or provision) is required for ECL towards all possible default
events over the expected life of the financial instrument
(âlifetime ECL'').

Financial assets (and the related impairment loss
allowances) are written off in full, when there is no realistic
prospect of recovery.

Treatment of the different stages of financial assets and the
methodology of determination of ECL

(a) Credit impaired (stage 3)

The Company recognises a financial asset to be credit
impaired and in stage 3 by considering relevant objective
evidence, primarily whether:

â¢ Contractual payments of either principal or interest are past
due for more than 180 days;

â¢ The loan is otherwise considered to be in default.

Restructured loans, where repayment terms are renegotiated
as compared to the original contracted terms due to
significant credit distress of the borrower, are classified as
credit impaired. Such loans continue to be in stage 3 until they
exhibit regular payment of renegotiated principal and interest
over a minimum observation period, typically 12 months -
post renegotiation, and there are no other indicators of
impairment. Having satisfied the conditions of timely
payment over the observation period these loans could be
transferred to stage 1 or 2 and a fresh assessment of the risk
of default be done for such loans.

Interest income is recognised by applying the EIR to the net
amortised cost amount i.e. gross carrying amount less ECL
allowance.

(b) Significant increase in credit risk (stage 2)

An assessment of whether credit risk has increased
significantly since initial recognition is performed at each
reporting period by considering the change in the risk of
default of the loan exposure. However, unless identified
at an earlier stage, 90 days past due is considered as an
indication of financial assets to have suffered a
significant increase in credit risk.

The measurement of risk of defaults under stage 2 is
computed on homogenous portfolios, generally by nature
of loans, tenors, underlying collateral, geographies and
borrower profiles. The default risk is assessed using PD
(probability of default) derived from past behavioural
trends of default across the identified homogenous
portfolios. These past trends factor in the past customer
behavioural trends, credit transition probabilities and
macroeconomic conditions. The assessed PDs are then
aligned considering future economic conditions that are
determined to have a bearing on ECL.

ECL resulting from default events that are possible in the
next 12 months are recognised for financial instruments
in stage 1. The Company has ascertained default
possibilities on past behavioural trends witnessed for
e a c h h o m o g e n o u s p o r t f o l i o u s i n g
application/behavioural score cards and other
performance indicators, determined statistically.

(d) Measurement of ECL

The assessment of credit risk and estimation of ECL are
unbiased and probability weighted. It incorporates all
information that is relevant including information about
past events, current conditions and reasonable forecasts
of future events and economic conditions at the reporting
date. In addition, the estimation of ECL takes into account
the time value of money. Forward looking economic
scenarios determined with reference to external
forecasts of economic parameters that have
demonstrated a linkage to the performance of our
portfolios over a period of time have been applied to
determine impact of macro-economic factors.

The Company has calculated ECL using three main
components: a probability of default (PD), a loss given
default (LGD) and the exposure at default (EAD). ECL is
calculated by multiplying the PD, LGD and EAD and
adjusted for time value of money using a rate which is a
reasonable approximation of EIR.

â¢ Determination of PD is covered above for each stage of
ECL.

â¢ EAD represents the expected balance at default, taking
into account the repayment of principal and interest from
the Balance Sheet date to the date of default together
with any expected drawdowns of committed facilities.

â¢ LGD represents expected losses on the EAD given the
event of default, taking into account, among other
attributes, the mitigating effect of collateral value at the
time it is expected to be realised and the time value of
money.

(B) Financial liabilities

Financial liabilities include liabilities that represent a
contractual obligation to deliver cash or another financial
assets to another entity, or a contract that may or will be
settled in the entities own equity instruments. Few examples
of financial liabilities are trade payables, borrowings etc.

Initial measurement

All financial liabilities are recognised initially at fair value and,
in the case of borrowings and payables, net of directly
attributable transaction costs. The Company''s financial
liabilities include trade payables, borrowings and other
payables.

Subsequent measurement

After initial recognition, all financial liabilities are
subsequently measured at amortised cost using the EIR. Any
gains or losses arising on derecognition of liabilities are
recognised in the Statement of Profit and Loss.

Derecognition

The Company derecognises a financial liability when the
obligation under the liability is discharged, cancelled or
expired.

Financial assets and financial liabilities are offset and the net
amount is reported in the Balance Sheet only if there is an

enforceable legal right to offset the recognised amounts with
an intention to settle on a net basis or to realise the assets
and settle the liabilities simultaneously.

(iii) Property, Plant and Equipment

(A) Recognition and measurement

(a) The cost of property, plant and equipment comprises its
purchase price net of any trade discounts and rebates, any
import duties and other taxes (other than those subsequently
recoverable from the tax authorities), any directly attributable
expenditure on making the asset ready for its intended use,
including relevant borrowing costs for qualifying assets and
any expected costs of decommissioning. Expenditure
incurred after the property, plant and equipment have been
put into operation, such as repairs and maintenance, are
charged to Statement of Profit and Loss in the period in which
the costs are incurred..

(b) An item of property, plant and equipment is derecognised
upon disposal. Any gain or loss arising on the disposals
determined as the difference between the sale proceeds and
the carrying amount of the asset and is recognised in
Statement of Profit and Loss.

(c) Assets in the course of construction are capitalised in the
assets under capital work in progress account (CWIP). At the
point when an asset is operating at management''s intended
use, the cost of construction is transferred to the appropriate
category of property, plant and equipment and depreciation
commences.

(d) Property, plant and equipment except freehold land held for
use in the supply or administrative purposes, are stated in the
balance sheet at cost less accumulated depreciation and
accumulated impairment losses, if any. Freehold land is
stated at historical cost.

(B) Depreciation/ Amortisation

The Assets'' residual values, useful lives and method of
depreciation are reviewed at each financial year end and
adjusted prospectively, if appropriate. Depreciation on Plant,
Property and equipment (other than freehold land) has been
provided using straight line method over the useful life of
assets. Useful life is the period over which an asset is
expected to be used by an enterprise. The estimated total
useful life of the assets are as follows-

(iv) Investment properties

that future economic benefits associated with the expenditure will
flow to the group and the cost of the item can be measured reliably.
All other repairs and maintenance costs are expensed when
incurred. Freehold land is stated at historical cost and Leasehold
land is stated at historical cost less amortisation. Leasehold land
is amortised over the period of lease as per lease agreement.

Though the Company measures investment property using cost
based measurement, the fair value of investment property is
disclosed in the notes. Fair values are determined based on annual
evaluation performed by an external independent valuer/Internal
assessment.

Depreciation on investment property, is provided on a pro-rata
basis on straight line method, over the useful life of the property
estimated by the management, in the manner prescribed in
Schedule of the Companies Act, 2013. The property''s residual
values, useful lives and method of depreciation are reviewed at the
end of each reporting period and necessary adjustments are made
accordingly, wherever required.

Investment property is derecognized when either it has been
disposed off or when the investment property is permanently
withdrawn from use and no future economic benefit is expected
from its disposal. Any gain or loss arising on de-recognition of the
investment property is included in the Statement of Profit and
Loss.

(v) Intangible Assets

Computer softwares are capitalised at the amounts paid to acquire
the respective license for use which comprises purchase
price, installation cost borrowing cost if capitalization criteria
are met and directly attributable cost of bringing the asset to
its working condition for the intended use less any discount
and rebates and these intangible assets are amortised over
the period of license, generally not exceeding six years on
straight line basis. The assets useful lives are reviewed at
each financial year end. Software is amortised over an
estimated useful life of 3 years.

(vi) Investment in Subsdiaries and Associates

Investments in equity instruments of subsidiaries and equity
instruments / units of associates are carried at cost, less
accumulated impairment losses, if any. Where an indication
of impairment exists, the carrying amount of the investment is
assessed and written down immediately to its recoverable
amount. On disposal of investments in subsidiaries and
associates, the difference between net disposal proceeds and
the carrying amounts are recognized in the Statement of
Profit and Loss.

(vii) Borrowing Costs

Borrowing costs that are directly attributable to the
acquisition or construction of a qualifying asset (including
real estate projects) are considered as part of the cost of the
asset / project.

A qualifying asset is one that necessarily takes substantial
period of time to get ready for its intended use or sale. All other
borrowing costs are charged to the statement of profit and
loss in the year in which incurred.

(viii) Cash and Cash Equivalents

Cash and cash equivalents include cash on hand, other short
term, highly liquid investments with original maturities of
three months or less that are readily convertible to known
amounts of cash and which are subject to an insignificant risk
of changes in value.

(ix) Impairment of non-financial assets

At each Balance Sheet date, the carrying amount of assets is
tested for impairment so as to determine the provision for
impairment loss required, if any, or the reversal required of
impairment loss recognized in previous periods, if any.

An impairment loss is recognized whenever the carrying
amount of an asset or its cash generating units exceed its
recoverable amount.

Recoverable amount is determined:

- In the case of an individual asset, at higher of the net selling
price or value in use.

- In the case of cash generating unit, at higher of the cash
generating unit''s net selling price or value in use.

(x) Employee Benefits

The Company participates in various employee benefit plans.
These benefit plans are classified as either defined
contribution plans or defined benefit plans. Under a defined
contribution plan, the company''s only obligation is to pay a
fixed amount with no obligation to pay further contributions if
the fund does not hold sufficient assets to pay all employee
benefits. The related actuarial and investment risks fall on the
employee.

Under a defined benefit plan, it is the Company''s obligation to
provide agreed benefits to the employees. The related
actuarial and investment risks fall on the Company.

In case of defined benefit plan, all actuarial gains or losses are
immediately recognized in other comprehensive income, net
of taxes and permanently excluded from profit and loss.
Further, the profit or loss will no longer include an expected
return on plan assets. The actual return on plan assets above
or below the discount rate is recognized as part of reÂ¬
measurement of net defined liability or asset through other
comprehensive income, net of taxes.

The Company does not provide carry forward & encashment
of leaves.

(a) Short term employee benefits

All employee benefits payable / available within twelve
months of rendering the service are classified as short-term
employee benefits. Benefits such as salaries, wages and
bonus etc., are recognized in the same period in which the
employee renders the related service.

(b) Defined Contribution plan

Company''s contributions paid/ payable during the year to
Provident Fund, Employee state insurance are recognized in
the Statement of Profit and Loss.

The Company is depositing P.F. & ESI contribution only for
eligible employees within statutory limits. The employees
whose income is above the statutory limits have opted not to
subscribe and accordingly, the Company is not required to
make the contribution

Retirement benefits in the form of Gratuity are considered as
defined benefit obligations and are provided for on the basis
of an actuarial valuation, using the projected unit credit
method, as at the date of the Balance Sheet. Actuarial Gains
and losses arising from experience adjustments and changes
in actuarial assumptions are recognized immediately in the
balance sheet with a corresponding debit or credit to retained
earnings through other comprehensive income (OCI) in the
period in which they occur. Re-measurements are not
reclassified to profit or loss in subsequent periods. All other
expenses related to defined benefit plans are recognized in
Statement of Profit and Loss as employee benefit expenses.

Mar 31, 2024

1 The Company overview

Career Point Limited is engaged in providing Education Service which inter alia includes Education Consultancy, Management Services, Tutorial Services and Residential Hostel Services and business of holding and investment/finance. Career Point Limited (the Company), is a public limited Company domiciled in India and is incorporated under the provisions of the Companies Act applicable in India. Career Point Limited has its listing with BSE Limited and National Stock Exchange of India. The registered office of the Company is situated at Career Point Limited , Village Tangori, Banur,Punjab - 140601 -India . The Standalone Financial Statements of the Company for the year ended 31 st March, 2024 are approved for issue by the Company''s Board of Directors on May 27, 2024.

2 Basis of preparation of financial statements

(i) Statement of compliance

The financial statements are prepared in accordance with Indian Accounting Standards (Ind AS), as prescribed under section 133 of the Companies Act, 2013 (âAct'') (to the extent notified) read with the Rules , as amended from time to time Accounting policies have been consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting standard requires a change in the accounting policy hitherto in use.These standalone financial statements which comprises the balance sheet as at 31.03.2024, the statement of profit & loss(including other comprehensive income), the statement of cash flows & the statement of changes in equity for the year ended 31.03.2024 and a summary of the material accounting policies and other explanatory information (together herein after referred to as "financial statements").

(ii) Basis of Measurement

The Company maintains its accounts on accrual basis following the historical cost convention, except for certain items that have been measured at fair value as required by the relevant Ind AS.

The standalone financial statements are presented in Indian Rupees (?), which is the Company''s functional and presentation currency and all amounts are rounded to the nearest lakhs (''00,000) and two decimals thereof, except as stated otherwise.

(iii) Use of Estimates & Judgements

The preparation of financial statements in conformity with Ind AS requires that the management of the company makes estimates and assumptions that affect the reported amounts of income and expenses of the period, the reported balances of assets and liabilities and the disclosures relating to contingent liabilities as at the date of the financial statements. Actual results could differ from these estimates. (Refer note No. 4 on critical accounting estimates, assumptions & judgments.)These estimates could change from period to period and also the actual results could vary from the estimates. Appropriate changes are made to the estimates as the management becomes aware of changes in circumstances surrounding these estimates. The changes in estimates are reflected in the financial statements in the period in which changes are made and, if material, their effects are disclosed in the notes to the financial statements.

3 Material Accounting policies(i) Foreign Currency Transactions

Foreign currency transactions are recorded on initial recognition in reporting currency, using the exchange rate at the date of transaction. At each Balance sheet date, foreign currency monetary items are reported using the closing rate. The exchange differences arising on settlement of monetary items are recognised as income or expenses in the year in which they arise.

(ii) Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

A financial assets or a liability is recognised when the Company becomes a Party to the contractual provision of the instrument.

(a) Financial Assets are measured at amortised cost or fair value through Other Comprehensive Income or fair value through Profit or Loss, depending on its business model for managing those financial assets and the assets contractual cash flow characteristics.

Subsequent measurements of financial assets are dependent on initial categorisation. For impairment purposes significant financial assets are tested on an individual basis, other financial assets are assessed collectively in groups that share similar credit risk characteristics. Trade Receivables are initially recognised at transaction price where they do not contain any significant portion of financing component. The company derecognizes financial assets when the contractual rights to the cash flows from the financial assets expire or it transfers the financial assets and the transfer qualifies for the derecognition under Ind AS 109. Investment in subsidiaries, associate and Joint venture Investments in shares of Subsidiaries, Joint Venture & Associates are measured at cost subject to impairment losses, if any.

Investment in Equity Instruments (other than Investment in Subsidiaries, Associates & Joint Venture)

Investments in Equity Instruments (Other Than Investment in Subsidiaries, Associates & Joint Venture) are initially measured at fair value. Any subsequent fair value gain or loss is recognized through Other Comprehensive Income.The company assesses impairment based on expected credit loss (ECL) model to all its financial assets measured at amortised cost. Cash and Cash Equivalents

Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term deposits with an original maturity of three months or less, which are subject to an insignificant risk of changes in value.

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above.

(b) All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs. The Company''s financial liabilities include trade and other payables, loans and borrowings including bank overdrafts.

Loans & Borrowings

After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortized cost using the EIR method. Gains and losses are recognized in the statement of profit and loss when the liabilities are derecognized as well as through the EIR amortization process.

Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as finance costs in the statement of profit and loss.

Trade & Other payables

A payable is classified as ''trade payable'' if it is in respect of the amount due on account of goods purchased or services received in the normal course of business. These amounts represent liabilities for goods and services provided to the Company prior to the end of financial year which are unpaid. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognised initially at their fair value and subsequently measured at amortised cost using the effective interest method.

(iii) Property, Plant and Equipment

(A) Recognition and measurement

(a) The cost of property, plant and equipment comprises its purchase price net of any trade discounts and rebates, any import duties and other taxes (other than those subsequently recoverable from the tax authorities), any directly attributable expenditure on making the asset ready for its intended use, including relevant borrowing costs for qualifying assets and any expected costs of decommissioning. Expenditure incurred after the property, plant and equipment have been put into operation, such as repairs and maintenance, are charged to Statement of Profit and Loss in the period in which the costs are incurred.

(b) An item of property, plant and equipment is derecognised upon disposal. Any gain or loss arising on the disposals determined as the difference between the sale proceeds and the carrying amount of the asset and is recognised in Statement of Profit and Loss.

(c) Assets in the course of construction are capitalised in the assets under capital work in progress account (CWIP). At the point when an asset is operating at management''s intended use, the cost of construction is transferred to the appropriate category of property, plant and equipment and depreciation commences.

(d) Property, plant and equipment except freehold land held for use in the supply or administrative purposes, are stated in the balance sheet at cost less accumulated depreciation and accumulated impairment losses, if any. Freehold land is stated at historical cost.

(B) Depreciation/ Amortisation

The Assets'' residual values, useful lives and method of depreciation are reviewed at each financial year end and adjusted prospectively, if appropriate. Depreciation on Plant, Property and equipment (other than freehold land) has been provided using straight line method over the useful life of assets. Useful life is the period over which an asset is expected to be used by an enterprise. The

estimated total useful life of the assets are as follows-

Class of property, plant and equipment	Useful Life
Building	60 Years
Plant & Machinery	8-22 Years
Furniture & Fixtures	8 Years
Computer	3 Years
Vehicle	8-10 Years
Office Equipments	5 Years

(iv) Investment properties

Property that is held for long-term rental yields or for capital appreciation or both, and that is not occupied by the group, is classified as investment property. Investment property is measured initially at its cost, including related transaction costs and where applicable borrowing costs. Subsequent expenditure is capitalised to the asset''s carrying amount only when it is probable that future economic benefits associated with the expenditure will flow to the group and the cost of the item can be measured reliably. All other repairs and maintenance costs are expensed when incurred. Freehold land is stated at historical cost and Leasehold land is stated at historical cost less amortisation. Leasehold land is amortised over the period of lease as per lease agreement. Though the Company measures investment property using cost based measurement, the fair value of investment property is disclosed in the notes. Fair values are determined based on annual evaluation performed by an external independent valuer/Internal assessment.

(v) Intangible Assets

Identifiable intangible assets are recognised a) when the Company controls the asset, b) it is probable that future economic benefits attributed to the asset will flow to the Company and c) the cost of the asset can be reliably measured.Computer softwares are capitalised at the amounts paid to acquire the respective license for use and are amortised over the period of license, generally not exceeding six years on straight line basis. The assets useful lives are reviewed at each financial year end.

Software is amortised over an estimated useful life of 3 years.

(vi) Inventories

Inventories are valued at lower of cost or net estimated realizable value, mainly comprises of publication and printed material. The cost of publication and printed materials have been computed on the basis of cost of materials, labour, cost of conversion and other costs incurred for bringing the inventories to their present location and condition. Cost is determined using the FIFO method.

(vii) Impairment of Assets

At each Balance Sheet date, the carrying amount of assets is tested for impairment so as to determine the provision for impairment loss required, if any, or the reversal required of impairment loss recognized in previous periods, if any.

An impairment loss is recognized whenever the carrying amount of an asset or its cash generating units exceed its recoverable amount.

Recoverable amount is determined:

- In the case of an individual asset, at higher of the net selling price or value in use.

- In the case of cash generating unit, at higher of the cash generating unit''s net selling price or value in use.

(viii) Employee Benefits

The Company participates in various employee benefit plans. These benefit plans are classified as either defined contribution plans or defined benefit plans. Under a defined contribution plan, the company''s only obligation is to pay a fixed amount with no obligation to pay further contributions if the fund does not hold sufficient assets to pay all employee benefits. The related actuarial and investment risks fall on the employee.

Under a defined benefit plan, it is the Company''s obligation to provide agreed benefits to the employees. The related actuarial and investment risks fall on the Company.

In case of defined benefit plan, all actuarial gains or losses are immediately recognized in other comprehensive income, net of taxes and permanently excluded from profit and loss. Further, the profit or loss will no longer include an expected return on plan assets. The actual return on plan assets above or below the discount rate is recognized as part of remeasurement of net defined liability or asset through other comprehensive income, net of taxes.

The company does not provide carry forward & encashment of leaves.

(a) Defined Contribution plan

Company''s contributions paid/ payable during the year to Provident Fund, Employee state insurance are recognized in the statement of Profit and Loss Account.

The company is depositing P.F. & ESI contribution only for eligible employees within statutory limits. The employees whose income is above the statutory limits have opted not to subscribe and accordingly, the company is not required to make the contribution.

(b) Defined Benefit Plan

Retirement benefits in the form of Gratuity are considered as defined benefit obligations and are provided for on the basis of an actuarial valuation, using the projected unit credit method, as at the date of the Balance Sheet. Actuarial Gains and losses arising from experience adjustments and changes in actuarial assumptions are recognized immediately in the balance sheet with a corresponding debit or credit to retained earnings through other comprehensive income (OCI) in the period in which they occur. Re-measurements are not reclassified to profit or loss in subsequent periods. All other expenses related to defined benefit plans are recognized in Statement of Profit and Loss as employee benefit expenses.

(ix) Share Based Payment Transactions

Equity settled share based payments to employees and others providing similar services are measured at fair value of equity instruments at the grant date.

The fair value determined at grant date of the equity settled

share based payments is expensed on a straight line basis over the period, based on the company''s estimate of equity instruments that will eventually vest with a corresponding increase in equity.

(x) Provisions, Contingent Liabilities and Contingent Assets (I) Provisions

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. Provisions are reviewed at each reporting period and are adjusted to reflect the current best estimate.

(ii) Contingencies

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle or a reliable estimate of the amount cannot be made. Information on contingent liability is disclosed in the Notes to the Financial Statements. Contingent assets are not recognized in financial statements but are disclosed, if any."

(xi) Non-Current Assets Held for Sale

The Company classifies non-current assets and disposal groups as held for sale if their carrying amounts will be recovered principally through a sale/distribution rather than through continuing use and the sale is considered highly probable. Management is committed to the sale within one year from the date of classification. The Company treats sale/distribution of the asset or disposal group to be highly probable when:

â¢ The appropriate level of management is committed to a plan to sell the asset (or disposal group)

â¢ An active programme to locate a buyer and complete the plan has been initiated (if applicable)

â¢ The asset (or disposal group) is being actively marketed for sale at a price that is reasonable in relation to its current fair value

â¢ The sale is expected to qualify for recognition as a completed sale within one year from the date of classification, and''

â¢ Actions required to complete the plan indicated that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Non-current asset held for sale/for distribution to owners and disposal groups are measured at the lower of their carrying amount and the fair value less costs to sell/distribute. Assets and liabilities classified as held for sale/distribution are presented separately in the balance sheet. Property, plant and equipment and intangible assets once classified as held for sale/distribution to owners are neither depreciated nor amortized.

(xii) Lease

(a) Right of use assets

The ROU assets are initially recognized at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives. They are subsequently measured at cost less accumulated depreciation and impairment losses. ROU assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease term and useful life of the underlying asset.

ROU assets are evaluated for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the Cash Generating Unit (CGU) to which the asset belongs.

(b) Lease Liabilities

The lease liability is initially measured at amortized cost at the present value of the future lease payments. The Company recognise a lease liability at the present value of the remaining lease payments, discounted using the lessee''s incremental borrowing rate.

The lease payments include fixed payments (including insubstance fixed payments) less any lease incentives receivable, variable lease payments that depend on a lease by lease basis.

In calculating the present value of lease payments, the Company uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. Lease liabilities are remeasured with a corresponding adjustment to the related right of use asset if the Company changes its assessment if whether it will exercise an extension or a termination option.

Lease liability and ROU asset have been separately presented in the Balance Sheet.

Leases for which the Company is a lessor is classified as a finance or operating lease. Whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee, the contract is classified as a finance lease. All other leases are classified as operating leases.

For operating leases, rental income is recognized on a straight line basis over the term of the relevant lease.

(xiii) Revenue Recognition

The company has applied Ind AS 115 which establishes a comprehensive framework for determining whether , how much and when revenue is to be recognized. The standard requires apportioning revenue earned from the contracts to individual promises, or performance obligations, on a relative stand-alone selling price basis, using a five-step model. Revenue from Contracts with Customers, requires that the entity shall recognise as revenue the amount of the transaction price, excluding the estimates of variable recognise as revenue the amount of the transaction price, excluding the estimates of variable consideration that is allocated to that performance obligation. Transaction price'' is defined as the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties.

Revenue from Services

Revenue is recognised only when it can be reasonably measured and there exists reasonable certainty of its recovery. Fees/income collected in advance for the period subsequent to the accounting period is shown as current liability.

Revenue in respect of education services is recognised in Profit & Loss in proportion to the stage of completion of the services at the reporting date. Fee is recorded at invoice value, net of discounts & taxes, if any.

Company is recognising as revenue only the amount which the company is entitled to receive as royalty as per the agreement entered into with the franchisee.

Revenue in respect of franchise (start-up fees) is recognised over a period of time as agreed terms of franchise agreement. Hostel revenue is recognized on accrual basis i.e. income is booked on month to month basis.

Other Income

Other operational revenue represents income earned from the activities incidental to the business and is recognised when the right to receive the income is established as per the terms of the contract.

Net Gain/ (Loss) on fair value change

Any differences between the fair value of investment in mutual funds classified as fair value through the profit or loss, held by the company on the balance sheet date is recognised as an unrealised gain/(loss) in the statement of profit or loss. In cases there is net gain in aggregate, the same is recognised in Net gains on fair value changes under the revenue from operations and if there is net loss the same is disclosed under "Other Expenses"in the statement of profit or loss. Interest Income

Interest income from a financial asset is recognized when it is

probable that the economic benefits will flow to the company and the amount of income can be measured reliably. Interest income is accrued on a time proportion basis taking into account the amount outstanding and the rate applicable. Revenue from sale of products

Revenue is recognised when the significant risk and rewards of ownerships are passed on to customers, which is generally on dispatch/delivery of goods to the customers.

(xiv) Finance Cost

Finance cost comprises interest cost on borrowings. Borrowing cost that are not directly attributable to a qualifying asset are recognized in the statement of profit & loss account using effective interest rate.

Processing fees charged on term loan is recognized in the statement of profit & loss over the tenure of the loan and balance of the processing fee is reduced from loan amount of current period.

(xv) Interest Income

Interest income from a financial asset is recognized when it is probable that the economic benefits will flow to the company and the amount of income can be measured reliably. Interest income is accrued on a time proportion basis taking into account the amount outstanding and the rate applicable.

(xvi) Dividend

Dividend income is recognized when the right to receive dividend is established.

(xvii) Taxation

Income tax expense represents the sum of current and deferred tax. Tax is recognised in the Statement of Profit and Loss, except to the extent that it relates to items recognised directly in equity or other comprehensive income. Current tax provision is computed for Income calculated after considering allowances and exemptions under the provisions of the applicable Income Tax Laws. Current tax assets and current tax liabilities are off set, and presented as net. "Deferred tax is recognised on differences between the carrying amounts of assets and liabilities in the Balance sheet and the corresponding tax bases used in the computation of taxable profit and are accounted for using the liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences, and deferred tax assets are generally recognised for all deductible temporary differences, carry forward tax losses and allowances to the extent that it is probable that in future taxable profits will be available to set off such deductible temporary differences. Deferred tax assets and liabilities are measured at the applicable tax rates. Deferred tax assets and deferred tax liabilities are off set, and presented as net. The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available against which the temporary differences can be utilised. Minimum Alternative Tax (MAT) is applicable to the Company. Credit of MAT is recognised as an asset only when and to the extent there is convincing evidence that the Company will pay normal income tax during the specified period, i.e., the period for which MAT credit is allowed to be carried forward. In the year in which the MAT credit becomes eligible to be recognised as an asset, the said

asset is created by way of a credit to the profit and loss account and shown as MAT credit entitlement."

(xviii) Earning per Share

Earnings considered in ascertaining the company''s earning per share comprises the net profit after tax attributable to equity shareholders.

Basic earnings per share is computed using the weighted average number of equity shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of equity and dilutive equivalent shares outstanding during the period.

(xix) Statement of cash flows

Statement of cash flows is prepared segregating the cash flows into operating, investing and financing activities. Cash flow from operating activities is reported using indirect method adjusting the net profit for the effects of:

i) changes during the period in operating receivables and payables transactions of a non-cash nature;

ii) non-cash items such as depreciation, provisions, deferred taxes, unrealised gains and losses; and

iii) all other items for which the cash effects are investing or financing cash flows.

Cash and cash equivalents (including bank balances) shown in the Statement of Cash Flows exclude items which are not available for general use as on the date of Balance Sheet.

4 (a) Critical accounting estimates, assumptions and

judgements:

In the process of applying the Company''s accounting policies, management has made the following estimates, assumptions and judgements, which have significant effect on the amounts recognised in the financial statement. Uncertainty about these assumptions and estimates could result in outcome that requires a material adjustment to assets or liabilities affected in future periods.

(i) Property, plant and equipment

Property, Plant and equipment represent a significant proportion of the asset base of the company. The useful lives and residual value of the company''s asset are determined by the management at the time the asset is acquired and reviewed at each reporting date.

(ii) Income taxes

The Company''s tax jurisdiction is India. Significant judgements are involved in estimating budgeted profits for the purpose of paying advance tax, determining the provision for income taxes, including amount expected to be paid/recovered for uncertain tax positions.

(iii) Contingencies

Management judgement is required for estimating the possible outflow of resources, if any, in respect of contingencies/claim/litigations against the Company as it is not possible to predict the outcome of pending matters with accuracy.

(iv) Allowance for uncollected accounts receivable and advances

Trade receivables do not carry any interest and are stated at their normal value as reduced by appropriate allowances for estimated irrecoverable amounts. Individual trade

receivables and advances are written off when management deems them not to be collectible. Impairment is made on the expected credit losses, which are the present value of the cash shortfall over the expected life of the financial assets.

(v) Impairment of non-financial assets

The Company assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Company estimates the assets''s recoverable amount. An assets''s recoverable amount is the higher of an assets''s or CGU''s fair value less costs of disposal and its value in use. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.

(vi) Impairment of financial assets

The impairment provisions for financial assets are based on assumptions about risk of default and expected loss rates. The Company uses judgement in making these assumptions and selecting the inputs to the impairment calculation, based on Company''s past history, existing market conditions as well as forward looking estimates at the end of each reporting period.

(vii) Fair value measurement of financial instruments

When the fair values of financials assets and financial liabilities recorded in the Balance Sheet cannot be measured based on quoted prices in active markets, their fair value is measured using valuation techniques, including the discounted cash flow model, which involve various judgements and assumptions.

Mar 31, 2023

1. The Company overview

Career Point Umited is engaged in providing Education Service which inter alio includes Education Consultancy, Management Services, Tutorial Services and Residential Hostel Services and business of holding and investment/flnance.

Career Point Limited (the Company), is a public limited Company domiciled In India and is Incorporated under the provisions of the Companies Act applicable in India. Career Point Limited has its listing with BSE Limited and National Stock Exchange of India. The registered office of the Company is situated at Career Point Limited , Village Tangori, Banur,Punjab - 140601-lndia . The Standalone Financial Statements of the Company for the year ended 31st March, 2023 are approved for Issue by the Company''s Board of Directors on May 29,2023.

2 Basis of preparation of financial statements

(i) Statement of compliance

The financial statements are prepared in accordance with Indian Accounting Standards (Ind AS), as prescribed under section 133 of the Companies Act, 2013 (''Act'') (to the extent notified) read with the Rules. as amended from time to time and guidelines issued by the Securities and Exchange Board of India (SEBI).

Accounting policies have been consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting standard requires a change in I he accounting policy hitherto in use. These standalone financial statements which comprises the balance sheet as at 31.03.2023, the statement of profit & toss(induding other comprehensive income), the statement of cash flows & the statement of changes in equity for the year ended 31.03.2023 and a summary of the significant accounting policies and other explanatory information (together herein after referred to as "financial statements").

(ii) Basis of Measurement

The Company maintains Its accounts on accrual basis following the historical cost convention, except for certain items that have been measured at fair value as required by the relevant Inc AS.

The standalone financial statements are presented In Indian Rupees (*). which is the Company''s functional and presentation currency and all amounts are rounded to the nearest lakhs 00.000) and two decimals thereof, except as stated otherwise.

(iii) Use of Estimates & Judgements

These estimates could change from period to period and also the actual results could vary from the estimates. Appropriate

changes are made to the estimates as the management becomes aware of changes in circumstances surrounding these estimates. The changes In estimates are reflected In the financial statements in the penod in which changes are made and, if material, their effects are disclosed in the notes to the financial statements.

3 Significant Accounting policies

(i) Foreign Currency Transactions

Foreign currency transactions are recorded on Initial recognition in reporting currency, using the exchange rate at the date of transaction. At each Balance sheet date, foreign currency monetary items are reported using the closing rate.

The exchange differences arising on settlement of monetary items are recognised as income or expenses in the year in which they arise.

(il) Financial Instruments

"A financial Instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. A financial assets ora liability is recognised when the Company becomes a Party to the contractual provision of the instrument."

Subsequent measurements of financial assets are dependent on initial categorisation. For impairment purposes significant financial assets are tested on an Individual basis, other financial assets are assessed collectively in groups that share similar credit risk characteristics. Trade Receivables are initially recognised at transaction price where they do not contain any significant portion of financing com ponent. The company derecognizes financial assets when the contractual rights to the cash flows from the financial assets expire or it transfers the financial assets and the transfer qualifies for the derecognition under Ind AS 109.

Investment in subsidiaries, associate and Joint venture

Investments in shares of Subsidiaries. Joint Venture & Associates are measured at cost subject to impairment losse5.ifany.

Investment in Mutual Funds

Investments in Mutual Funds (OtherThan Investment in Subsidiaries & Joint Venture) are initially measured at fair value. Any subsequent fair value gain or loss is recognized through Profit or Loss.

Investment in Equity Instruments (other than Investment In Subsidiaries, Associates & Joint Venture)

Investments In Equity Instruments (Other Than Investment in Subsidiaries, Associates & Joint Venture) are initially measured at fair value. Any subsequent fair value gain or loss is recognized through Other Comprehensive Income. _n

Class of Property, Plant & Equipment	Useful Life
Building	60 Years
Plant & Machinery	8-22 Years
Furniture & Fixtures	8 Years
Computer	3 Years
Vehicle	8-10 Years
Office Equipments	5 Years

The company assesses impairment based on expected credit loss (ECL) model to all its financial assets measured at amortised cosl Cash and Cash Equivalents

"Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term deposits with an original maturity of three months or less, which are subject to an insignificant riskof changes in value.For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and shortterm deoosits, as defined above"

After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortized cost using the EIR method. Gains and losses are recognized In the statement of profit and loss when the liabilities are derecognized as well as through the EIR amortization process.

Trade & Other payables

A payable is classified as ''trade payableâ if it is in respect of the amount due on account of goods purchased or services received in the normal course of business. These amounts represent liabilities for goods and services provided to the Company prior to the end of financial year which are unpaid. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognised initially at their fair value and subsequently measured at amortised cost using the effective Interest method.

(iii) Property, Plant and Equipment (A) Recognition and measurement

(a) The cost of property, plant and equipment comprises its purchase price net of any trade discounts and rebates, any import duties and other taxes (other than those subsequently recoverable from the tax authorities), any directly attributable expenditure on making the asset ready for its intended use, including relevant borrowing costs for qualifying assets and any expected costs of decommissioning. Expenditure incurred after the property, plant and equipment have been put into operation, such as repairs and maintenance, are charged to Statement of Profit and Loss in the period in which thecostsare incurred.

(b) An item of property, plant and equipment is derecognised upon disposal. Any gain or loss arising on the disposals determined as the difference between the sale proceeds and the carrying amount of the asset and is recognised in Statement of Profits Loss.

(c) Assets in the course of construction are capitalised in the assets under capital work in progress account (CWIP). At the point when an asset is operating at management''s intended use, the cost of construction is transferred to the appropriate category of property, plantandequipmentand depreciation commences.

(d) Property, plant and equipment except freehold land held for use in the supply or administrative purposes, are stated in the balance sheet at cost less accumulated depreciation and accumulated Impairment losses, if any. Freehold land is stated at historical cost.

(B) Depreciation/Amortisation

The Assets'' residual values, useful lives and method of depreciation are reviewed at each financial year end and adjusted prospectively, if appropriate. Depreciation on Plant, Property and equipment (other than freehold land) has been provided using straight line method over the useful life of assets. Useful life is the period over which an asset is expected to be used by an enterprise. The estimated total useful life of the assets are as follows-

(iv) Investment properties

"Property that Is held for long-term rental yields or for capital appreciation or both, and that is not occupied by the group, is classified as investment property. Investment property is measured Initially at Its cost, including related transaction costs and where applicable borrowing costs. Subsequent expenditure Is capitalised to the asset''s carrying amount only when it Is probable that future economic benefits associated with the expenditure will flow to the group and the cost of the item can be measured reliably. All other repairs and maintenance costs are expensed when incurred. Freehold land is stated at historical cost and Leasehold bnd is stated at historical cost less amortisation. Leasehold land is amortised over the period of lease as per lease agreement. Though the Company measures investment property using cost based measurement, the fair value of investment property is disclosed in the notes. Fair values are determined based on annual evaluation performed by an external independent valuer/lntemal assessment.â

(v) Intangible Assets

Identifiable intangible assets are recognised a) when the Company controls the asset, b) it is probable that future economic benefits attributed to the asset will flow to the

Company and c} the cost of the asset can be reliably measured.

"Computer softwares are capitalised at the amounts paid to acquire the respective license for use and are amortised over the period of license, generally not exceeding six years on straight line basis The assets useful lives are reviewed at each financial /ear end. Software is amortised over an estimated useful life of 3 years â

(vi) Inventories

(vii) Impairment of Assets

At each Balance Sheet date, the carrying amount of assets is tested for Impairment so as to determine the provision for impairment loss required, if any, or the reversal required of impairment loss recognized in previous periods, if any.

An impairment loss is recognized whenever the carrying amount of an asset or its cash generating units exceed its recoverable amount Recoverable amount is determined:

- In the cose of an individual asset, at higher of the net selling price or value in use.

In the case of cash generating unit, at higher of the cash-generating unit''s net selling price or value in use.

(viii) Employee Benefits

The Company participates In various employee benefit plans. These benefit plans are classified as either defined contribution plans or defined benefit plans. Under a defined contribution plan, the company''s only obligation is to pay a fixed amount with no obligation to pay further contributions if the fund does not hold sufficient assets to pay all employee benefits. The related actuarial and investment risks fall on theemployee.

Under a defined benefit plan, it is the Company''s obligation to provide agreed benefits to the employees. The related actuana! and investment risks fall on the Company,

In case of defined benefit plan, ail actuarial gains or losses are immediately recognized in other comprehensive Income, not of taxes and permanently excluded from profit and loss. Further, the profit or loss v/ill no onger include an expected return on plan assets. The actual return on plan assets above or belowthe discount rate is recognized as part of re-measurement of net defined liability or asset through other comprenenslve Income, net of taxes.

The company does not provide carry forward & encashment ofleaves.

(a) Defined Contribution plan

Company''s contributions paid/ payable during the year to Provident Fund, Employee state insurance are recognized in the statement of Profit and Loss Account.

The company is depositing P.F. & ESI contribution only for eligible employees within statutory limits. The employees whose Income is above the statutory limits have opted not to subscribe and accordingly, the company is not required to make the contribution.

(b) Defined Benefit Plan

Retirement benefits In the form of Gratuity are considered as defined benefit obligations and are provided for on the basis of an actuarial valuation, using the projected unit credit method, as at the date of the Balance Sheet. Actuarial Gains and losses arising from experience adjustments and changes In actuarial assumptions are recognized immediately In the balance sheet with a corresponding debit or credit to retained earnings through other comprehensive income (OCI) in the period in which they occur. Re-measurements are not reclassified to profit or loss in subsequent periods. All other expenses related to defined benefit plans are recognized in Statement of Profit and Loss as employee benefit expenses.

(ix) Share Based Payment Transactions

Equity settled share based payments to employees and others providing similar services are measured at fair value of equity instruments at the grant date.

The fair value determined at grant date of the equity settled share based payments is expensed on a straight line basis over the period, based on the company''s estimate of equity instruments that will eventually vest with a corresponding increase in equity.

(x) Provisions, Contingent Liabilities and Contingent Assets (I) Provisions

(ii) Contingencies

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or nonoccurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle ora reliable estimate of the amount cannot be made Information on contingent liability Is disclosed In the Notes to the Financial Statements. Contingent assets are not recognized in financial statements but are disclosed, if any."

(xi) Non-Current Assets Held for Sale

The Company classifies non current assets and disposal

groups as held for sale if their carrying amounts will oe recovered principally through a sale/distribution rather than through continuing use and the sale Is considered highly probable. Management is committed to the sale within one year from the date of classification. The Company treats sale/distribution of the asset or disposal group to be highly probable when:

â¢ The appropriate level of management is committed to a plan to sell the asset (or disposal group)

â¢ An active p^rogrammeto locate a buyer and complete the plan has been initiated (if applicable)

â¢ The asset (or disposal group) Is being actively marketed for sale at a price that Is reasonable In relation to its current fair value

â¢ The sale is expected to qualify for recognition as a completed sale within one year from the date of classification, and''

â¢ Actions required to complete the pian indicated that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Non-current, asset held for sale/for distribution to owners and disposal groups arc measured at the lower of their carrying amount ana the fair value less costs to sell/distribute. Assets and liabilities classified as held for sale/distribution are presented separately In the balance sheet. Property, plant and equipment and intangible assets once classified as held for sale/distrlbutlon to owners are neither depreciated nor amortized

(xii) Lease

(a) Right of use assets

At the date of commencement of the lease, the Company recognizes a right-of-use (ROU) asset and a corresponding lease liability for all lease arrangements in which it is a lessee, except for leases with a term of 12 months or less (short-term leases) and low value leases. For these short-term and low-value leases, the Company recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease. Certain lease arrangements include the options to extend or terminate the lease before the end of the lease term. ROU assets and lease liabilities includes these options when it is reasonably certain that they will be exercised. The ROU assets are initially recognized at cost, which comprises the Initial amount of the lease liability adjusted for any lease payments made at or prior to the commencement date of the lease olus any initial direct costs less any lease incentives. They are subsequently measured at cost less accumulated depredation and Impairment losses. ROU assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease term and useful life of the underlying asset.

ROU assets are evaluated for recoverability whenever events or changes In circumstances Indicate that their carrying amounts may not be recoverable. For the

purpose of impairment testing, the recoverable amount (i.e. the higher of the fair value less cost to sell and the value-ln-use) Is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the Cash Generating Unit (CGU)to which the asset belongs.

(b) Lease Liabilities

The lease liability is initially measured at amortized cost at the present value of the future lease payments. The Company recognise a lease liability at the present V3lue of the remaining lease payments, discounted using the lessees incremental borrowing rate.

The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on a lease by lease basis.

In calculating the present value of lease payments, the Company uses the Incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. Lease liabilities are remeasured with a corresponding adjustment to the related right of use asset if the Company changes its assessment if whether it will exercise an extension or a termination option.

Lease liability and ROU asset have been separately presented In the 8alance Sheet.

Leases for which the Company is a lessor is classified as a finance or operating lease. Whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee, the contract is classified as 3 finance lease. All other leases are classified as operating leases.

For operating leases, rental income is recognized on a straight line basis over the term of the relevant lease.

(xiii) Revenue Recognition

Revenue from Contracts with Customers, requires that the entity shall recognise as revenue the amount of the transaction price, exduding the estimates of variable recognise as revenue the amount of the transaction price, exduding the estimates of variable consideration that Is allocated to that performance obligation. Transaction price¹is defined as the amount of consideration to which an entity expects to be entitled In exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf ofthlrd parties.

Revenue from Services

Revenue in respect of education services is recognised In Profit & Loss in proportion to the stage of comoletion of the sen/ices at the reporting date. Fee is recorded at invoice value, net of discounts & taxes, if any.

Company ts recognising as revenue only the amount which the company is entitled to receive as royalty as per the agreement entered into with the franchisee.

Revenue In respect of franchise (start-up fees) is recognised over a period of time as agreed terms of franchise agreement.

Hostei revenue is recognized on accrual basis i.e. income is booked on month to month basis.

Other Income

Other operational revenue represents Income earned from the activities incidental to the business and is recognised when the right to receive the income Is established as per the terms of the contract.

Net Gain/ (loss) on fair value change Any differences between the fair value of investment in mutual funds classified as fair value through the profit or loss, held by the company on the balance sheet date is recognised as an unrealised gain/(loss) in the statement of profit or loss. In cases there is net gain In aggregate, the same is recognised in Net gains on fair value changes under the revenue from operations and if there is net loss the same is disclosed under "Other Exper.ses"in the statement of profit or loss.

Interest Income

Interest income from a financial asset is recognized when it is probable that the economic benefits will flow to the company and the amount of income C3n be measured reliably. Interest income is accrued on a time proportion basis taking into account the amount outstanding and the rate applicable.

Revenue from sale of products

Revenue is recognised when the significant risk and rewards of ownerships are passed on to customers, which is generally on dispatch/delivery of goods to the customers,

(xiv) Finance Cost

Processing fees charged on term loan is recognized in the statement of profit & loss over the tenure of the loan and balance of the processing fee is reduced from loan amount of current period.

(xv)lnterest Income

Interest income from a financial asset is recognized when it Is probable that the economic benefits v/ill fiow to the company and the amount of income can be measured reliably. Interest Income Is accrued on a time proportion basis taking Into account the amount outstanding and the rate applicable.

(xvl)Dividend

Dividend income is recognized when the right to receive dividend is established.

(xvii) Taxation

"Deferred tax is recognised on differences between the carrying amounts of assets and liabilities in the Balance sheet and the corresponding tax bases used in the computation of taxable profit and are accounted for using the liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences, and deferred tax assets are generally recognised for ail deductible temporary differences, carry forward tax losses and allowances to the extent that it is probable that in future taxable profits will be available to set off such deductible temporary differences. Deferred tax assets and liabilities are measured at the applicable tax rates. Deferred tax assets and deferred tax liabilities are off set. and presented as net. The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available 3gainst which the temporary differences can be utilised. Minimum Alternative Tax (MAT) is applicable to the Company. Credit of MAT is recognised as an asset only when and to the extent there is convincing evidence that the Company will pay normal income tax during the specified period, i.e., the period for which MAT credit is allowed to be carried forward. In the year in which the MAT credit becomes eligible to be recognised as an asset, the said asset is created by way of a credit to the profit and loss account and shown as MAT credit entitlement."

(xviii) Earning per Share

Earnings considered In ascertaining the company''s earning per share comprises the net profit after tax attributable to equity shareholders.

Basic earnings per share is computed using the weighted average number of equity shares outstanding during the period. Diluted earnings per share Is computed using the weighted average number of equity 3nd dilutive equivalent shares outstanding during the period.

(xlx) Statement of cosh flows

i) changes during the period in operating receivables and payables transactions of a non-cash nature;

ii) non-cash items such as depreciation, provisions, deferred taxes, unrealised gains and losses; and

ill) all other items far which the cash effects are investing or financing cash flows.

Cash and cash equivalents (Including bank balances) shown in the Statement of Cash Hows exclude items which are not available for general use as on the date of Balance Sheet.

4 (a) Critical accounting estimates, assumptions and

judgements:

In the process of applying the Company''s accounting policies, management has made the following estimates, assumptions and judgements, which have significant effect on the amounts recognised in the financial statement. Uncertainty about these assumptions and estimates could result In outcome that requires a material adjustment to assets or liabilities affected in future periods.

(i) Property, plant and equipment

Property, Plant and equipment represent a significant proportion of the asset base of the company. The useful lives and residual value of the companyâs asset are determined by the management at the time the asset is acquired and reviewed at each reporting date.

(ii) Incometaxes

The Companyâs tax jurisdiction is India. Significant judgements are involved in estimating budgeted profits for the purpose of paying advance tax, determining the provision for income taxes, including amount expected to be paid/recovered for uncertain tax positions.

(iii) Contingencies

Management judgement is required for estimating the possible outflow of resources, if any. in respect of contingencies/claim/lltigatons against the Company as it Is not possible to predict the outcome of pending matters with accuracy.

(iv) Allowance for uncollected accounts receivable and advances

Trade receivables do not carry any interest and are stated at their normal value as reduced by appropriate allowances for estimated irrecoverable amounts. Individual trade receivables and advances are written off when management deems them not to be collectible. Impairment is made on the expected credit losses, which are the present value of the cash shortfall over the expected life of the financial assets

(v) Impairment of non-financlal assets

The Company assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication

exists, or when annual impairment testing for an asset is required, the Company estimates the assets''s recoverable amount. An assets''s recoverable amount Is the higher of an assets''s or CGUâs fair value less costs of disposal 3nd Its value in use. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered Impaired and is written down to its recoverable amount

(vl) Impairment of financial assets

(vii) Fair value measurement of financial instruments

(b) Recent accounting pronouncements

Ministry of Corporate Affairs (''''MCA") notifies new standards or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. On March 31, 2023, MCA amended the Companies (Indian Accounting Standards) Amendment Rules, 2023, as below:

Ind AS 1 - Presentation of Financial Statements - This amendment requires the entities to disclose their material accounting policies rather than their significant accounting policies. The effective date for adoption of this amendment is annual periods beginning on or after April 1,2023. The Company has evaluated the amendment and the impact of the amendment is insignificant in these financial statements.

Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors - This amendment has introduced a definition of ''accounting estimates'' and included amendments to Ind AS 8 to help entities distinguish changes in accounting policies from changes in accounting estimates. The effective date for adoption of this amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the amendment and there is no impact on its financial statements.

Ind AS 12 - Income Taxes - This amendment has narrowed the scope of the initial recognition exemption so that it does not apply to transactions that give rise to equal and offsetting temporary differences. The effective date for adoption of this amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the amendment and there is no Impact on Its financial statement.

Mar 31, 2018

1 Significant Accounting policies

(i) Lease

âLease is classified as Operating Lease, when substantial risks and rewards of ownership are not transferred - rentals thereon are recognised as expense over the lease term.

Leases under which, the Company assumes substantially all the risks and rewards of ownership are classified as finance leases. When acquired, such assets are capitalised at fair value or present value of the minimum lease payments at the inception of the lease, whichever is lower. Lease payments are apportioned between finance charges and reduction of the lease liability, so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are recognised in finance costs in the statement of profit and loss.â

(ii) Foreign Currency Transactions

The exchange differences arising on settlement of monetary items are recognised as income or expenses in the year in which they arise.

(iii) Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. A financial assets or a liability is recognised when the Company becomes a Party to the contractual provision of the instrument.

(a) Financial Assets

Financial assets include cash and cash equivalent, trade and other receivables, investments in securities and other eligible current and non-curren tassets.

Financial Assets are measured at amortised cost or fair value through Other Comprehensive Income or fair value through Profit or Loss, depending on its business model for managing those financial assets and the assets contractual cash flow characteristics. Subsequent measurements of financial assets are dependent on initial categorisation. For impairment purposes significant financial assets are tested on an individual basis, other financial assets are assessed collectively in groups that share similar credit risk characteristics.

The company derecognizes a financial assets when the contractual rights to the cash flows from the financial assets expire or it transfers the financial assets and the transfer qualifies for the derecognisition under Ind AS 109.

Investment in subsidiaries, associate and Joint venture-

Investments in shares of Subsidiaries, Joint Venture & Associates are measured at cost subject to impairment losses, if any. Investment in Mutual Funds

Investments in Mutual Funds (Other Than Investment in Subsidiaries & Joint Venture) are initially measured at fair value. Any subsequent fair value gain or loss is recognized through Profit or Loss.

Investment in Equity Instruments (other than Investment in Subsidiaries, Associates & Joint Venture)

Investments in Equity Instruments (Other Than Investment in Subsidiaries & Joint Venture) are initially measured at fair value. Any subsequent fair value gain or loss is recognized through Other Comprehensive Income.

The company assesses impairment based on expected credit loss (ECL) model to all its financial assets measured at amortised cost.

Cash and Cash Equivalents

For the purpose of the statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above

(iv) Property, Plant and Equipment

(a) Recognition and measurement

A. On transition to Ind AS, the Company has elected to continue with the carrying value of all of its property, plant and equipment recognised as at April 1, 2016, measured as per the Previous GAAP, and use that carrying value as the deemed cost of such property, plant and equipment.

B. The cost of property, plant and equipment comprises its purchase price net of any trade discounts and rebates, any import duties and other taxes (other than those subsequently recoverable from the tax authorities), any directly attributable expenditure on making the asset ready for its intended use, including relevant borrowing costs for qualifying assets and any expected costs of decommissioning. Expenditure incurred after the property, plant and equipment have been put into operation, such as repairs and maintenance, are charged to Statement of Profit and Loss in the period in which the costs are incurred.

C. An item of property, plant and equipment is derecognised upon disposal. Any gain or loss arising on the disposals determined as the difference between the sale proceeds and the carrying amount of the asset and is recognised in Statement of Profit and Loss.

D. Assets in the course of construction are capitalised in the assets under capital work in progress account (CWIP). At the point when an asset is operating at managementâs intended use, the cost of construction is transferred to the appropriate category of property, plant and equipment and depreciation commences.

F. Property, plant and equipment except freehold land held for use in the supply or administrative purposes, are stated in the balance sheet at cost less accumulated depreciation and accumulated impairment losses, if any. Freehold land is stated at historical cost.

(b) Depreciation/ Amortisation

The Assetsâ residual values, useful lives and method of depreciation are reviewed at each financial year end and adjusted prospectively, if appropriate. Depreciation on Property, Plant and equipment (otherthan freehold land) has been provided using straight line method over the useful life of assets. Useful life is the period over which an asset is expected to be used by an enterprise. The estimated total useful life of the assets are as follows-

(v) Investment properties

â Property that is held for long-term rental yields or for capital appreciation or both, and that is not occupied by the group, is classified as investment property. Investment property is measured initially at its cost, including related transaction costs and where applicable borrowing costs. Subsequent expenditure is capitalised to the assetâs carrying amount only when it is probable that future economic benefits associated with the expenditure will flow to the group and the cost of the item can be measured reliably. All other repairs and maintenance costs are expensed when incurred. Freehold land is stated at historical cost and leasehold land is stated at historical cost less amortisation. Leasehold land is amortised over the period of lease as per lease agreement.

Though the Company measures investment property using cost based measurement, the fair value of investment property is disclosed in the notes. Fair values are determined based on annual evaluation performed by an external independent valuer/internal assessment.

On transition to Ind AS, the Company has elected to continue with the carrying value of all of its investment property recognised as at April 1,2016, measured as per the Previous GAAP and use that carrying value as the deemed cost of such investment property.â

(vi) Intangible Assets

On transition to Ind AS, the Company has elected to continue with the carrying value of all of its intangible assets recognised as at April 1, 2016, measured as per the Previous GAAP, and use that carrying value as the deemed cost of such intangible assets.

Computer softwares are capitalised at the amounts paid to acquire the respective license for use and are amortised over the period of license, generally not exceeding six years on straight line basis. The assets useful lives are reviewed at each financial year end.

Software is amortised over an estimated useful life of 3 years.

(vii) Inventories

(viii) Impairment of Assets

At each Balance Sheet date, the carrying amount of assets is tested for impairment so as to determine the provision for impairment loss required, if any, or the reversal required of impairment loss recognized in previous periods, if any.

An impairment loss is recognized whenever the carrying amount of an asset or its cash generating units exceed its recoverable amount. Recoverable amount is determined:

- In the case of an individual asset, at higher of the net selling price or value in use.

- In the case of cash generating unit, at higher of the cash generating unitâs net selling price or value in use.

(ix) Employee Benefits

The Company participates in various employee benefit plans. These benefit plans are classified as either defined contribution plans or defined benefit plans. Under a defined contribution plan, the companyâs only obligation is to pay a fixed amount with no obligation to pay further contributions if the fund does not hold sufficient assets to pay all employee benefits. The related actuarial and investment risks fall on the employee.

Under a defined benefit plan, it is the Companyâs obligation to provide agreed benefits to the employees. The related actuarial and investment risks fall on the Company.

In case of defined benefit plan, all actuarial gains or losses are immediately recognized in other comprehensive income, net of taxes and permanently excluded from profit and loss. Further, the profit or loss will no longer include an expected return on plan assets. The actual return on plan assets above or below the discount rate is recognized as part of re-measurement of net defined liability or asset through other comprehensive income, net of taxes.

The company does not provide carry forward & encashment of leaves

(a) Defined Contribution plan

Companyâs contributions paid/ payable during the year to Provident Fund, Employee state insurance are recognized in the statement of Profit and Loss Account.

(b) Defined Benefit Plan

Retirement benefits in the form of Gratuity are considered as defined benefit obligations and are provided for on the basis of an actuarial valuation, using the projected unit credit method, as at the date of the Balance Sheet. Actuarial Gains and losses arising from experience adjustments and changes in actuarial assumptions are recognized immediately in the balance sheet with a corresponding debit or credit to retained earnings through other comprehensive income (OCI) in the period in which they occur. Re-measurements are not reclassified to profit or loss in subsequent periods. All other expenses related to defined benefit plans are recognized in Statement of Profit and Loss as employee benefit expenses.

(x) Share Based Payment Transactions

Equity settled share based payments to employees and others providing similar services are measured at fair value of equity instruments at the grant date.

The fair value determined at grant date of the equity settled share based payments is expensed on a straight line basis over the period, based on the companyâs estimate of equity instruments that will eventually vest with a corresponding increase in equity.

(xi) Provisions, Contingent Liabilities and Contingent Assets

(i) Provisions

(ii) Contingencies

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle ora reliable estimate of the amount cannot be made. Information on contingent liability is disclosed in the Notes to the Financial Statements. Contingent assets are not recognized in financial statements but are disclosed, if any.â

(xii) Revenue Recognition Revenue from Services

Company is recognising as revenue only the amount which the company is entitled to receive as royalty as per the agreement entered with the franchisee.

Revenue in respect of franchise (startup fees) is recognised over a period of time as per the agreed terms of franchise agreement.

Hostel revenue is recognized on accrual basis i.e. income is booked on month to month basis.

Revenue from sale of Books

Revenue is recognised when the significant risk and rewards of ownerships are passed on to customers, which is generally on dispatch/delivery of goods to the customers.

(xiii) Finance Cost

Processing fees charged on term loan is recognized in the statement of profit & loss over the tenure of the loan and balance of the processing fee is reduced from loan amount of current period.

(xiv) Other Income

(a) Interest

(b) Dividend

Dividend income is recognized when the right to receive dividend is established.

(xv) Taxation

Current tax provision is computed for Income calculated after considering allowances and exemptions under the provisions of the applicable Income Tax Laws. Current tax assets and current tax liabilities are off set, and presented as net.

âDeferred tax is recognised on differences between the carrying amounts of assets and liabilities in the Balance sheet and the corresponding tax bases used in the computation of taxable profit and are accounted for using the liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences, and deferred tax assets are generally recognised for all deductible temporary differences, carry forward tax losses and allowances to the extent that it is probable that in future taxable profits will be available to set off such deductible temporary differences.

Deferred tax assets and liabilities are measured at the applicable tax rates.

Deferred tax assets and deferred tax liabilities are off set, and presented as net.

The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available against which the temporary differences can be utilised. Minimum Alternative Tax (MAT) is applicable to the Company. Credit of MAT is recognised as an asset only when and to the extent there is convincing evidence that the Company will pay normal income tax during the specified period, i.e., the period for which MAT credit is allowed to be carried forward. In the year in which the MAT credit becomes eligible to be recognised as an asset, the said asset is created by way of a credit to the profit and loss account and shown as MAT credit entitlement.

(xvi) Earning per share

Earnings considered in ascertaining the companyâs earning per share comprises the net profit after tax attributable to equity shareholders.

Mar 31, 2016

27 SIGNIFICANT ACCOUNTING POLICIES:

(i) Basis of Accounting

The company maintains its accounts on accrual basis following the historical cost convention in accordance with generally accepted accounting principles (GAAP) and in compliance with the Accounting Standards notified under section 133 and other requirements of the Companies Act, 2013.

The Preparation of financial statements in conformity with GAAP requires that the management of the company makes estimates and assumptions that affect the reported amounts of income and expenses of the period, the reported balances of assets and liabilities and the disclosures relating to contingent liabilities as at the date of the financial statements. Examples of such estimates include the useful life of tangible and intangible fixed assets, provision for doubtful debts/ advances, future obligations in respect of retirement benefit plans etc. Actual results could differ from these estimates.

(ii) Revenue Recognition

Revenue is recognized only when it can be reasonably measured and there exists reasonable certainty of its recovery. Minimum revenue commitment from franchisee is recognized at the time of receipt. Fees/income collected in advance for the period subsequent to the accounting period is shown as current liability.

Interest: Interest income is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable. Dividend: Dividend income is recognized when the right to receive dividend is established.

Gain from investment in Mutual Funds (FMPs) is recognized at the date of Maturity.

(iii) Employee Benefits

a. Defined Contribution plan

Company''s contributions paid/ payable during the year to Provident Fund and Employee Pension Scheme are recognized in the Profit and Loss Account.

b. Defined Benefit Plan

Company''s liabilities towards gratuity , are determined using the projected unit credit method which considers each period of service as giving rise to additional unit of benefit entitlement and measures each unit separately to build up the final obligation. Actuarial gain and losses are recognized immediately in the statement of Profit and Loss Account as income or expenses. Obligation measured at the present value of estimated future cash flows using discounted rate that is determined by reference to market yields at the balance sheet date on government bonds where the currency and terms of the Government are consistent with currency and estimated terms of the defined benefit obligation.

The Company does not provide carry forward and encashment of leave.

(iv) Property, Plant and Equipment (Fixed Assets)

Gross carrying amount of an asset is its cost or other amount substituted for the cost in the books of accounts, without making any deduction for accumulated depreciation and accumulated impairment losses. Fixed Assets are stated at cost of recognition/ installation less accumulated depreciation and include directly attributable cost including installation and freight charges for bringing the assets to working condition for intended use.

Cost is the amount of cash or cash equivalents paid or the fair value of the other considerations given to acquire an asset at the time of its acquisition or construction or, where applicable, the amount attributed to that asset at the time of its acquisition or construction or, where applicable, the amount attributed to that asset when initially recognized in accordance with the specific requirements of other Accounting Standards.

Carrying amount is the amount at which an asset is recognized after deducting any accumulated depreciation and accumulated depreciation losses.

Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life.

" Useful life is:(a) the period over which an asset is expected to be available for use by an enterprise; or(b) the number of production or similar units expected to be obtained from the asset by an enterprise."

" The cost of an item of property, plant and equipment is recognized as an asset if, and only if:(a) it is probable that future economic benefits associated with the item will flow to the Company; and(b) the cost of the item can be measured reliably."

Tangible assets not ready for the intended use on the date of the Balance Sheet are disclosed as "capital work-in-progress".

(v) Depreciation

Leasehold land is amortized over the period of lease. Depreciation on Fixed assets is provided from the date the asset is ready for commercial use on a pro-rata basis as per useful life prescribed in Schedule II of the Companies Act, 2013.

Depreciation for additions to/deletions from assets is calculated pro-rata from/to the date of addition/deletion.

(vi) Intangible Assets and Amortization

Intangible assets are recognized as per the criteria specified in Accounting Standard (AS) 26 "Intangible Assets" issued by the Institute of Chartered Accountants of India, adopted by the company from the Financial Year 2007-08 and are amortized as follows: -Cost of Lease hold land is amortized over the period of lease.

- Software - Amortized over a period of 3 years

(vii) Impairment of Assets

(a) At each Balance Sheet date, the carrying amount of assets is tested for impairment so as to determine:

(I) The provision for impairment loss required, if any, or

(II) The reversal required of impairment loss recognized in previous periods, if any.

(b) An impairment loss is recognized whenever the carrying amount of an asset or its cash generating units exceed its recoverable amount.

Recoverable amount is determined:

(I) in the case of an individual asset, at higher of the net selling price or value in use.

(II) in the case of cash generating unit, at higher of the cash generating unit''s net selling price or value in use.

(viii) Investments

(a) Long term investments are carried at cost after providing for any diminution in value, if such diminution is of permanent nature.

(b) Current investments that are readily realizable and intended to be held for not more than a year are carried at lower of cost or market value. The determination of carrying costs of such investments is done on the basis of specific identification.

(ix) Inventories

(x) Miscellaneous Expenditure

Preliminary expenses incurred on formation of the company and expenses incurred for increase in authorized capital are amortized over a period of 5 years.

(xi) Foreign Currency Transactions

(a) The reporting currency of the company is Indian Rupee.

(b) Foreign currency transactions are recorded on initial recognition in reporting currency, using the exchange rate at the date of transaction. At each Balance sheet date, foreign currency monetary items are reported using the closing rate.

The exchange differences arising on settlement of monetary items are recognized as income or expenses in the year in which they arise.

(xii) Taxes on Income

Tax on income for the current period is determined on the basis of taxable income and tax credits computed in accordance with the provisions of the Income Tax Act, 1961.

Deferred Tax is recognized on timing differences between the accounting income and the taxable income for the year and quantified using the tax rates and laws enacted or substantively enacted as on the balance sheet date.

(xiii) Provisions, Contingent Liabilities and Contingent Assets

(a) Provisions are recognized for liabilities that can be measured only by using substantial degree of estimation, if

(I) the company has a present obligation as a result of past event;

(II) a probable outflow of resources is expected to settle the obligation;

(III) the amount of the obligation can be reliably estimated.

(b) Contingent liability is disclosed in the case of :

(I) a present obligation arising from a past event, when it is not probable that an outflow of resources will be required to settle the obligation;

(II) a present obligation when no reliable estimate is possible; and

(III) a possible obligation arising from past events where the probability of outflow of resources is not remote.

Contingent Assets are neither recognized, nor disclosed.

Mar 31, 2014

(i) Basis of Accounting

The company maintains its accounts on accrual basis following the historical cost convention in accordance with generally accepted accounting principles (GAAP) and in compliance with the Accounting Standards notified under section 211(3C) and other requirements of the Companies Act, 1956.

The Preparation of financial statements in conformity with GAAP requires that the management of the company makes estimates and assumptions that affect the reported amounts of income and expenses of the period, the reported balances of assets and liabilities and the disclosures relating to contingent liabilities as at the date of the financial statements. Examples of such estimates include the useful life of tangible and intangible fixed assets, provision for doubtful debts/ advances, future obligations in respect of retirement benefit plans etc. Actual results could differ from these estimates.

(ii) Revenue Recognition

Revenue is recognised only when it can be reasonably measured and there exists reasonable certainty of its recovery.

Fees/income collected in advance for the period subsequent to the accounting period is shown as current liability.

Interest: Interest income is recognized on a time proportion basis taking into account the amount outstanding and the rate

applicable.

Dividend: Dividend income is recognized when the right to receive dividend is established.

Gain from investment in Mutual Funds (FMPs) is recognised at the date of Maturity.

(iii) Employee Benefits

a. Defined Contribution plan CompanyÂs contributions paid/ payable during the year to Provident Fund and Employee Pension Scheme are recognized in the Profit and Loss Account.

b. Defined Benefit Plan CompanyÂs liabilities towards gratuity and leave encashment (does not provide encashment and carry forward), are determined using the projected unit credit method which considers each period of service as giving rise to additional unit of benefit entitlement and measures each unit separately to build up the final obligation. Actuarial gain and losses are recognised immediately in the statement of Profit and Loss Account as income or expenses. Obligation measured at the present value of estimated future cash flows using discounted rate that is determined by reference to market yields at the balance sheet date on government bonds where the currency and terms of the Government are consistent with currency and estimated terms of the defined benefit obligation. The company has adopted AS-15 (Revised) from the Financial year 2007-08.

(iv) Fixed Assets

Fixed Assets are stated at cost of recognition/ installation less accumulated depreciation and include directly attributable cost including installation and freight charges for bringing the assets to working condition for intended use.

(v) Depreciation

Depreciation on assets carried at historical cost is provided on straight-line basis at the rates prescribed under schedule XIV of the Companies Act, 1956.

Depreciation for additions to/deletions from assets is calculated pro-rata from/to the date of addition/deletion.

(vi) Intangible Assets and Amortisation

Intangible assets are recognized as per the criteria specified in Accounting Standard (AS) 26 ÂIntangible AssetsÂ issued by the Institute of Chartered Accountants of India, adopted by the company from the Financial Year 2007-08 and are amortised as follows:

- Cost of Lease hold land is amortized over the period of lease.

- Software - Amortised over a period of 6 years

(vii) Impairment of Assets

(a) At each Balance Sheet date, the carrying amount of assets is tested for impairment so as to determine:

(I) The provision for impairment loss required, if any, or

(II) The reversal required of impairment loss recognized in previous periods, if any.

(b) An impairment loss is recognized whenever the carrying amount of an asset or its cash generating units exceed its recoverable amount.

Recoverable amount is determined:

(I) in the case of an individual asset, at higher of the net selling price or value in use.

(II) in the case of cash generating unit, at higher of the cash generating unitÂs net selling price or value in use.

(viii) Investments

(a) Long term investments are carried at cost after providing for any diminution in value, if such diminution is of permanent nature.

(b) Current investments that are readily realizable and intended to be held for not more than a year are carried at lower of cost or market value. The determination of carrying costs of such investments is done on the basis of specific identification.

(ix) Inventories

Inventories are valued at lower of cost or net estimated realizable value, mainly comprises of publication and printed material. The cost of publication and printed materials have been computed on the basis of cost of materials, labour, cost of conversion and other costs incurred for bringing the inventories to their present location and condition. Cost is determined on FIFO method.

(x) Miscellaneous Expenditure

Preliminary expenses incurred on formation of the company and expenses incurred for increase in authorized capital are amortized over a period of 5 years.

(xi) Foreign Currency Transactions

(a) The reporting currency of the company is Indian Rupee.

(b) Foreign currency transactions are recorded on initial recognition in reporting currency, using the exchange rate at the date of transaction. At each Balance sheet date, foreign currency monetary items are reported using the closing rate.

The exchange differences arising on settlement of monetary items are recognised as income or expenses in the year in which they arise.

(xii) Taxes on Income

Tax on income for the current period is determined on the basis of taxable income and tax credits computed in accordance with the provisions of the Income Tax Act, 1961.

Deferred Tax is recognized on timing differences between the accounting income and the taxable income for the year and quantified using the tax rates and laws enacted or substantively enacted as on the balance sheet date.

(xiii) Provisions, Contingent Liabilities and Contingent Assets

(a) Provisions are recognised for liabilities that can be measured only by using substantial degree of estimation, if

(I) the company has a present obligation as a result of past event;

(II) a probable outflow of resources is expected to settle the obligation;

(III) the amount of the obligation can be reliably estimated.

(b) Contingent liability is disclosed in the case of :

(I) a present obligation arising from a past event, when it is not probable that an outflow of resources will be required to settle the obligation;

(II) a present obligation when no reliable estimate is possible; and

(III) a possible obligation arising from past events where the probability of outflow of resources is not remote. Contingent Assets are neither recognized, nor disclosed.

(c) Provisions, Contingent Liabilities and Contingent Assets are reviewed at each Balance Sheet date.

As per our report attached For and on behalf of the Board of Directors

(iv) Employee Benefits

GroupÂs contributions paid/ payable during the year to Provident Fund and Retirement Benefits are recognized in the Profit and Loss Account as statutory requirments and on the basis of acturial valuation.

(v) Fixed Assets

Fixed Assets are stated at cost of recognition/ installation including charges less accumulated depreciation and include directly attributable cost including installation and freight charges for bringing the assets to working condition for intended use.

(vi) Depreciation

Depreciation on assets carried at historical cost is provided on straight-line basis at the rates prescribed under schedule XIV of the Companies Act, 1956.

Depreciation for additions to/deletions from assets is calculated pro-rata from/to the date of addition/deletion.

(vii) Intangible assets

Intangible assets are recognised when it is probable that the future economic benefits that are attributable to the assets will flow to the Company and the cost of the asset can be measured reliably.

(viii) Impairment of Assets

(a) At each Balance Sheet date, the carrying amount of assets is tested for impairment so as to determine:

(I) The provision for impairment loss required, if any, and

(II) The reversal required of impairment loss recognized in previous periods, if any.

(b) An impairment loss is recognized whenever the carrying amount of an asset or its cash generating units exceed its recoverable amount.

Recoverable amount is determined:

(I) in the case of an individual asset, at higher of the net selling price or value in use.

(II) in the case of cash generating unit, at higher of the cash generating unitÂs net selling price or value in use.

(ix) Investments

(a) Long term investments are carried at cost after providing for any diminution in value, if such diminution is of permanent nature.

(b) Current investments i.e. investments that are readily realizable and intended to be held for not more than a year from the date on which such investments are made are carried at lower of cost or market value. The determination of carrying costs of such investments is done on the basis of specific identification.

(x) Inventories

Inventories are valued at lower of cost or net estimated realizable value and mainly comprise of publication and printed material. The cost of publication and printed materials have been computed on the basis of cost of materials, labour, cost of conversion and other costs incurred for bringing the inventories to their present location and condition. Cost is determined on FIFO method.

(xi) Miscellaneous Expenditure

Preliminary expenses incurred by the Group are amortized over a period of 5 years.

(xii) Foreign Currency Transactions

(a) The reporting currency of the Group is Indian Rupee.

(b) Foreign currency transactions are recorded on initial recognition in reporting currency, using the exchange rate at the date of transaction. At each Balance sheet date, foreign currency monetary items are reported using the closing rate.

The exchange differences arising on settlement of monetary items or on reporting at each balance sheet date are recognised as income or expense in the year in which they arise.

(xiii) Taxes on Income

Tax on income for the current period is determined on the basis of taxable income and tax credits computed in accordance with the provisions of the Income Tax Act, 1961.

Deferred Tax is recognized on timing differences between the accounting income and the taxable income for the year and quantified using the tax rates and laws enacted or substantively enacted as on the balance sheet date.

(xiv) Provisions, Contingent Liabilities and Contingent Assets

(a) Provisions are recognised for liabilities that can be measured only by using substantial degree of estimation, if

(I) there is a present obligation as a result of past event;

(II) a probable outflow of resources is expected to settle the obligation;

(III) the amount of the obligation can be reliably estimated.

(b) Contingent liability is disclosed in the case of :

(I) a present obligation arising from a past event, when it is not probable that an outflow of resources will be required to settle the obligation;

(II) a present obligation when no reliable estimate is possible; or

(III) a possible obligation arising from past events where the probability of outflow of resources is not remote.

Contingent Assets are neither recognized, nor disclosed.

Â© Provisions, Contingent Liabilities and Contingent Assets are reviewed at each Balance Sheet date.

As per our report attachedFor and on behalf of the Board of Directors

Mar 31, 2013

(i) Basis of Accounting

The company maintains its accounts on accrual basis following the historical cost convention in accordance with generally accepted accounting principles (GAAP) and in compliance with the Accounting Standards notified under section 211(3C) and other requirements of the Companies Act, 1956.

The Preparation of financial statements in conformity with GAAP requires that the management of the company makes estimates and assumptions that affect the reported amounts of income and expenses of the period, the reported balances of assets and liabilities and the disclosures relating to contingent liabilities as at the date of the financial statements. Examples of such estimates include the useful life of tangible and intangible fixed assets, provision for doubtful debts/ advances, future obligations in respect of retirement benefit plans etc. Actual results could differ from these estimates.

(ii) Revenue Recognition

Revenue is recognised only when it can be reasonably measured and there exists reasonable certainty of its recovery. Fees/income collected in advance for the period subsequent to the accounting period is shown as current liability.

Interest: Interest income is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable.

Dividend: Dividend income is recognized when the right to receive dividend is established.

(iii) Employee Benefits

a. Defined Contribution plan

CompanyÂs contributions paid/ payable during the year to Provident Fund and Employee Pension Scheme are recognized in the Profit and Loss Account.

b. Defined Benefit Plan

CompanyÂs liabilities towards gratuity and leave encashment (does not provide encashment and carry forward), are determined using the projected unit credit method which considers each period of service as giving rise to additional unit of benefit entitlement and measures each unit separately to build up the final obligation. Actuarial gain and losses are recognised immediately in the statement of Profit and Loss Account as income or expenses. Obligation measured at the present value of estimated future cash flows using discounted rate that is determined by reference to market yields at the balance sheet date on government bonds where the currency and terms of the Government are consistent with currency and estimated terms of the defined benefit obligation.

The company has adopted AS-15 (Revised) from the Financial year 2007-08.

(iv) Fixed Assets

Fixed Assets are stated at cost of recognition/ installation less accumulated depreciation and include directly attributable cost including installation and freight charges for bringing the assets to working condition for intended use.

(v) Depreciation

Depreciation on assets carried at historical cost is provided on straight-line basis at the rates prescribed under schedule XIV of the Companies Act, 1956.

Depreciation for additions to/deletions from assets is calculated pro-rata from/to the date of addition/deletion.

(vi) Intangible Assets and Amortisation

Intangible assets are recognized as per the criteria specified in Accounting Standard (AS) 26 "Intangible Assets" issued by the Institute of Chartered Accountants of India, adopted by the company from the Financial Year 2007-08 and are amortised as follows:

- Cost of Lease hold land is amortized over the period of lease. (vii) Impairment of Assets

(a) At each Balance Sheet date, the carrying amount of assets is tested for impairment so as to determine:

i. The provision for impairment loss required, if any, or

ii. The reversal required of impairment loss recognized in previous periods, if any.

(b) An impairment loss is recognized whenever the carrying amount of an asset or its cash generating units exceed its recoverable amount. Recoverable amount is determined:

i. in the case of an individual asset, at higher of the net selling price or value in use.

ii. in the case of cash generating unit, at higher of the cash generating unitÂs net selling price or value in use.

(viii) Investments

(a) Long term investments are carried at cost after providing for any diminution in value, if such diminution is of permanent nature.

(b) Current investments that are readily realizable and intended to be held for not more than a year are carried at lower of cost or market value. The determination of carrying costs of such investments is done on the basis of specific identification.

(ix) Inventories

Inventories are valued at lower of cost and net estimated realizable value, mainly comprises of publication and printed material. the cost of Publication and printed materials have been computed on the basis of estimated cost of materials, labour, cost of conversion and other costs incurred for bringing the inventories to their present location and condition. Cost is determined on FIFO method.

(x) Miscellaneous Expenditure

Preliminary expenses incurred on formation of the company and expenses incurred for increase in authorized capital are amortized over a period of 5 years.

(xi) Foreign Currency Transactions

(a) The reporting currency of the company is Indian Rupee.

(b) Foreign currency transactions are recorded on initial recognition in reporting currency, using the exchange rate at the date of transaction. At each Balance sheet, foreign currency monetary items are reported using the closing rate.

The exchange differences arising on settlement of monetary items are recognised as income or expenses in the year in which they arise.

(xii) Taxes on Income

Tax on income for the current period is determined on the basis of taxable income and tax credits computed in accordance with the provision of the Income Tax Act, 1961.

Deferred Tax is recognized on timing differences between the accounting income and the taxable income for the year and quantified using the tax rates and laws enacted or substantively enacted as on the balance sheet date.

(xiii) Provisions, Contingent Liabilities and Contingent Assets

(a) Provisions are recognised for liabilities that can be measured only by using substantial degree of estimation, if (i) if the company has a present obligation as a result of past event;

(ii) a probable outflow of resources is expected to settle the obligation; (iii) the amount of the obligation can be reliably estimated.

(b) Contingent liability is disclosed in the case of :

(i) a present obligation arising from a past event, when it is not probable that an outflow of resource will be required to settle the obligation;

(ii) a present obligation when no reliable estimate is possible; and

(iii) a possible obligation arising from past events where the probability of outflow of resource is not remote.

Contingent Assets are neither recognized, nor disclosed.

(c) Provision, Contingent Liabilities and Contingent Assets are reviewed at each Balance Sheet date.

Mar 31, 2012

1.1 Basis of Accounting

The Company maintains its accounts on accrual basis following the historical cost convention in accordance with generally accepted accounting principles (GAAP) and in compliance with the Accounting Standards notified under section 211 (3C) and other requirements of the Companies Act, 1956.

The Preparation of financial statements in conformity with GAAP requires that the management of the Company makes estimates and assumptions that affect the reported amounts of income and expenses of the period, the reported balances of assets and liabilities and the disclosures relating to contingent liabilities as at the date of the financial statements. Examples of such estimates include the useful life of tangible and intangible fixed assets, provision for doubtful debts/ advances, future obligations in respect of retirement benefit plans etc. Actual results could differ from these estimates.

1.2 Revenue Recognition

Revenue is recognised only when it can be reasonably measured and there exists reasonable certainty of its recovery. Fees/income collected in advance for the period subsequent to the accounting period is shown as current liability.

Interest: Interest income is recognised on a time proportion basis taking into account the amount outstanding and the rate applicable.

Dividend: Dividend income is recognised when the right to receive dividend is established.

1.3 Employee Benefits

a. Defined Contribution plan

Company's contributions paid/ payable during the year to provident fund and employee pension scheme are recognised in the Profit and Loss Account

b. Defined Benefit Plan

Company's liabilities towards gratuity and leave encashment (does not provide encashment and carry forward), are determined using the projected unit credit method which considers each period of service as giving rise to additional unit of benefit entitlement and measures each unit separately to build up the final obligation. Actuarial gain and losses are recognised immediately in the statement of Profit and Loss Account as income or expenses. Obligation measured at the present value of estimated future cash flows using discounted rate that is determined by reference to market yields at the balance sheet date on government bonds where the currency and terms of the Government are consistent with currency and estimated terms of the defined benefit obligation.

The Company has adopted AS-15 (Revised) from the Financial year 2007-08.

1.4 Fixed Assets

Fixed Assets are stated at cost of recognition/ installation less accumulated depreciation and include directly attributable cost including installation and freight charges for bringing the assets to working condition for intended use.

1.5 Depreciation

Depreciation on assets carried at historical cost is provided on straight-line basis at the rates prescribed under schedule XTV of the Companies Act, 1956.

Depreciation for additions to/deletions from assets is calculated pro-rata from/to the date of addition/deletion.

1.6 Intangible Assets and Amortisation

Intangible assets are recognised as per the criteria specified in Accounting Standard AS) 26 "Intangible Assets" issued by the Institute of Chartered Accountants of India, adopted by the Company from the Financial Year 2007-08 and are amortised as follows:

-Cost of Lease hold land is amortised over the period of lease.

1.7 Impairment of Assets

a) At each Balance Sheet date, the carrying amount of assets is tested for impairment so as to determine: i. The provision for impairment loss required, if any, or

ii. The reversal required of impairment loss recognised in previous periods, if any.

b) An impairment loss is recognised whenever the carrying amount of an asset or its cash generating units exceed its recoverable amount.

Recoverable amount is determined:

i. in the case of an individual asset, at higher of the net selling price or value in use.

ii. in the case of cash generating unit, at higher of the cash generating unit's net selling price or value in use.

1.8 Investments

(a) Long term investments are carried at cost after providing for any diminution in value, if such diminution is of permanent nature.

(b) Current investments that are readily realisable and intended to be held for not more than a year are carried at lower of cost or market value. The determination of carrying costs of such investments is done on the basis of specific identification.

1.9 Inventories

Inventories are valued at lower of cost and net estimated realisable value, mainly comprises of publication and printed material. Publication and printed materials have been computed on the basis of estimated cost of materials, labour, cost of conversion and other costs incurred for bringing the inventories to their present location and condition. Cost is determined on FIFO method.

1.10 Miscellaneous Expenditure

Preliminary expenses incurred on formation of the Company and expenses incurred for increase in authorised capital are amortised over a period of 5 years.

1.11 Foreign Currency Transactions

(a) The reporting currency of the Company is Indian Rupee.

(b) Foreign currency transactions are recorded on initial recognition in reporting currency, using the exchange rate at the date of transaction. At each Balance sheet, foreign currency monetary items are reported using the closing rate.

The exchange differences arising on settlement of monetary items are recognised as income or expenses in the year in which they arise.

1.12 Taxes on Income

Tax on income for the current period is determined on the basis of taxable income and tax credits computed in accordance with the provision of the Income Tax Act, 1961.

Deferred Tax is recognised on timing differences between the accounting income and the taxable income for the year and quantified using the tax rates and laws enacted or substantively enacted as on the balance sheet data.

1.13 Provisions, Contingent Liabilities and Contingent Assets

(a) Provisions are recognised for liabilities that can be measured only by using substantial degree of estimation, if (i) if the Company has a present obligation as a result of past event;

(ii) a probable outflow of resources is expected to settle the obligation; (iii) the amount of the obligation can be reliably estimated.

(b) Contingent liability is disclosed in the case of:

(i) a present obligation arising from a past event, when it is not probable that an outflow of resource will be required to settle the obligation, (ii) a present obligation when no reliable estimate is possible; and (iii) a possible obligation arising from past events where the probability of outflow of resource is not remote

(c) Contingent Assets are neither recognised, nor disclosed.

Provision, Contingent Liabilities and Contingent Assets are reviewed at each Balance Sheet date.

Mar 31, 2011

1. Basis of Accounting

The company maintains its accounts on accrual basis following the historical cost convention in accordance with generally accepted accounting principles (GAAP) and in compliance with the Accounting Standards notified under section 211(3C) and other requirements of the Companies Act, 1956.

The Preparation of financial statements in conformity with GAAP requires that the management of the company makes estimates and assumptions that affect the reported amounts of income and expenses of the period, the reported balances of assets and liabilities and the disclosures relating to contingent liabilities as at the date of the financial statements. Examples of such estimates include the useful life of tangible and intangible fixed assets, provision for doubtful debts/ advances, future obligations in respect of retirement benefit plans etc. Actual results could differ from these estimates.

2. Revenue Recognition

Revenue is recognised only when it can be reasonably measured and there exists reasonable certainty of its recovery. Fees/ income collected in advance for the period subsequent to the accounting period is shown as current liability.

Interest: Interest income is recognised on a time proportion basis taking into account the amount outstanding and the rate applicable.

Dividend: Dividend income is recognised when the right to receive dividend is established.

3. Employee Benefits

a. Defined Contribution plan

Company's contributions paid/ payable during the year to provident fund and employee pension scheme are recognised in the Profit and Loss Account

b. Defined Benefit Plan

Company's liabilities towards gratuity and leave encashment (does not provide encashment and carry forward), are determined using the projected unit credit method which considers each period of service as giving rise to additional unit of benefit entitlement and measures each unit separately to build up the final obligation. Actuarial gain and losses are recognised immediately in the statement of Profit and Loss Account as income or expenses. Obligation measured at the present value of estimated future cash flows using discounted rate that is determined by reference to market yields at the balance sheet date on government bonds where the currency and terms of the Government are consistent with currency and estimated terms of the defined benefit obligation.

The company has adopted AS-15 (Revised) from the Financial year 2007-08.

4. Fixed Assets

Fixed Assets are stated at cost of recognition/ installation less accumulated depreciation and include directly attributable cost including installation and freight charges for bringing the assets to working condition for intended use.

5. Depreciation

Depreciation on assets carried at historical cost is provided on straight-line basis at the rates prescribed under schedule XIV of the Companies Act, 1956.

Depreciation for additions to/deletions from assets is calculated pro-rata from/to the date of addition/deletion.

6. Intangible Assets and Amortisation

Intangible assets are recognised as per the criteria specified in Accounting Standard (AS) 26 "Intangible Assets" issued by the Institute of Chartered Accountants of India, adopted by the company from the Financial Year 2007-08 and are amortised as follows:

-Cost of Lease hold land is amortised over the period of lease.

7. Impairment of Assets

a) At each Balance Sheet date, the carrying amount of assets is tested for impairment so as to determine:

i. The provision for impairment loss required, if any, or

ii. The reversal required of impairment loss recognised in previous periods, if any.

b) An impairment loss is recognised whenever the carrying amount of an asset or its cash generating units exceed its recoverable amount.

Recoverable amount is determined:

i. In the case of an individual asset, at higher of the net selling price or value in use.

ii. In the case of cash generating unit, at higher of the cash generating unit's net selling price or value in use.

8. Investments

(a) Long term investments are carried at cost after providing for any diminution in value, if such diminution is of permanent nature.

(b) Current investments that are readily realisable and intended to be held for not more than a year are carried at lower of cost or market value. The determination of carrying costs of such investments is done on the basis of specific identification.

9. Inventories

Inventories are valued at lower of cost and net estimated realisable value, mainly comprises of publication and printed material. Publication and printed materials have been computed on the basis of estimated cost of materials, labour, cost of conversion and other costs incurred for bringing the inventories to their present location and condition. Cost is determined on FIFO method.

10. Miscellaneous Expenditure

Preliminary expenses incurred on formation of the company and expenses incurred for increase in authorised capital are amortised over a period of 5 years.

11. Foreign Currency Transactions

(a) The reporting currency of the company is Indian Rupee.

(b) Foreign currency transactions are recorded on initial recognition in reporting currency, using the exchange rate at the date of transaction. At each Balance sheet, foreign currency monetary items are reported using the closing rate.

The exchange differences arising on settlement of monetary items are recognised as income or expenses in the year in which they arise.

12. Taxes on Income

Tax on income for the current period is determined on the basis of taxable income and tax credits computed in accordance with the provision of the Income Tax Act, 1961.

Deferred Tax is recognised on timing differences between the accounting income and the taxable income for the year and quantified using the tax rates and laws enacted or substantively enacted as on the balance sheet data.

13. Provisions, Contingent Liabilities and Contingent Assets

(a) Provisions are recognised for liabilities that can be measured only by using substantial degree of estimation, if

(i) if the company has a present obligation as a result of past event;

(ii) a probable outflow of resources is expected to settle the obligation;

(iii) the amount of the obligation can be reliably estimated.

(b) Contingent liability is disclosed in the case of :

(i) a present obligation arising from a past event, when it is not probable that an outflow of resource will be required to settle the obligation,

(ii) a present obligation when no reliable estimate is possible; and

(iii) a possible obligation arising from past events where the probability of outflow of resource is not remote

(c) Contingent Assets are neither recognised, nor disclosed.

Provision, Contingent Liabilities and Contingent Assets are reviewed at each Balance Sheet date.

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