Accounting Policies of Cresanto Global Ltd. Company

Mar 31, 2024

A. CORPORATE INFORMATION

Raymed Labs Limited (referred to as "the Company") is listed entity incorporated in India. (CIN NO:
L24111UP1992PLC014240)

The registered office of the company is situated in

103, Emperor 1, Supertech Emerald Court, Sector 93A, Noida -201304.

B. SIGNIFICANT ACCOUNTING POLICIES

B.1 Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost conventions on accrual basis in accordance with
the Indian Accounting Standards (Ind AS) as prescribed under section of Section 133 of the Companies Act, 2013
and other accounting principles generally accepted in India. Further, the guidance, Notes/Announcements issued
by The Institute of Chartered Accountants of India ("ICAI") are also considered wherever applicable as adopted
consistently by the company. The company has uniformly applied the accounting policies during the periods
presented.

Company''s financial statements are presented in Indian Rupees (in "000), which is also its functional currency.
B.2 Summary of Significant Accounting Policies

a) Property, plant & equipment

Property, plant and equipment are stated at cost, net of recoverable taxes, trade discount and rebates less
accumulated depreciation and impairment losses, if any. Such cost includes purchase price, borrowing cost
and any cost directly attributable to bringing the assets to its working condition for its intended use, net
charges on foreign exchange contracts and adjustments arising from exchange rate variations attributable to
the assets.

Subsequent costs are included in the asset''s carrying amount or recognized as a separate asset, as appropriate,
only when it is probable that future economic benefits associated with the item will flow to the entity and the
cost can be measured reliably.

Depreciation on property, plant and equipment is provided using written down value method. Depreciation is
provided based on useful life of the assets as prescribed in Schedule II to the Companies Act, 2013

b) Intangible assets

Intangible Assets are stated at cost of acquisition net of recoverable taxes, trade discount and rebates less
accumulated amortization/depletion and impairment loss, if any. Intangible Assets are amortized over their
respective individual estimated useful life on a Written down Value Method Basis, commencing from date of
Assets is available to the company for its use.

c) Inventories

Items of inventories are measured at lower of cost and net realizable value as prescribed in IND AS 2. Cost
of inventories comprises of cost of purchase, cost of conversion and other costs including manufacturing
overheads net of recoverable taxes incurred in bringing them to their respective present location and condition.

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Mar 31, 2014

1.1. ACCOUNTING CONVENTION

The accounts have been prepared on historical cost convention on accrual basis, in accordance with the requirements of The Companies Act, 1956 and Applicable Statutes and comply with the Accounting Standards referred to in section 211 (3C) of the Companies Act, 1956. Accounting Policies are consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting standard requires a change in accounting policy hitherto in use.

1.2. USE OF ESTIMATES

The preparation of financial statements requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of financial statements and the reported amount of revenue and expenses during the reporting period. The recognition, measurement, classification or disclosures of an item or information in the financial statements are made relying on these estimates. Any revision to accounting estimates is recognised prospectively.

1.3. FIXED ASSETS

Fixed Assets are stated at their original cost of acquisition including taxes, duties, freight and other incidental expenses related to acquisition and installation of the concerned assets.

Depreciation has been provided on written down value (WDV) method at the rates and in the manner as prescribed in Schedule XIV of the Companies Act, 1956 only for first quarter because the Company has surrendered VAT Registration as there is no manufacturing at present.

1.4. INVENTORIES

The stocks of raw materials including stores and spares, packing materials and finished goods have been taken at cost or net realizable value whichever is lower. The inventories are valued on the basis of First in and First out (FIFO) method.

There is no inventory in hand of raw material, including stores and spares, packing Materials and finished goods at closing of financial year.

1.5. ACCOUNTING FOR PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Provisions involving a substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be outflow of resources.

Contingent liabilities are not recognized but are disclosed in the Notes to Accounts. Contingent Assets are neither recognized nor disclosed in the financial statements.

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Mar 31, 2013

1.1.ACCOUNTING CONVENTION

The accounts have been prepared on historical cost convention on accrual basis, in accordance with the requirements of The Companies Act, 1956 and Applicable Statutes and comply with the Accounting Standards referred to in section 211 (3C) of the Companies Act, 1956. Accounting Policies are consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting standard requires a change in accounting policy hitherto in use.

1.2.USE OF ESTIMATES

The preparation of financial statements requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of financial statements and the reported amount of revenue and expenses during the reporting period. The recognition, measurement, classification or disclosures of an item or information in the financial statements are made relying on these estimates. Any revision to accounting estimates is recognized prospectively.

1.3.FIXED ASSETS

Fixed Assets are stated at their original cost of acquisition including taxes, duties, freight and other incidental expenses related to acquisition and installation of the concerned assets.

Depreciation has been provided on written down value (WDV) method at the rates and in the manner as prescribed in Schedule XIV of the Companies Act, 1956.

1.4. INVENTORIES

The stocks of raw materials have been taken at cost. The inventories are valued on the basis of First in and First out (FIFO) method.

1.5.ACCOUNTING FOR PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Provisions involving a substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be outflow of resources.

Contingent liabilities are not recognized but are disclosed in the Notes to Accounts. Contingent Assets are neither recognized nor disclosed in the financial statements.

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Mar 31, 2012

1.1. ACCOUNTING CONVENTION

The accounts have been prepared on historical cost convention on accrual basis, in accordance with the requirements of The Companies Act, 1956 and Applicable Statutes and comply with the Accounting Standards referred to in section 211 (3C) of the Companies Act, 1956. Accounting Policies are consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting standard requires a change in accounting policy hitherto in use.

1.2. USE OF ESTIMATES

The preparation of financial statements requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of financial statements and the reported amount of revenue and expenses during the reporting period. The recognition, measurement, classification or disclosures of an item or information in the financial statements are made relying on these estimates. Any revision to accounting estimates is recognized prospectively.

1.3. FIXED ASSETS

Fixed Assets are stated at their original cost of acquisition including taxes, duties, freight and other incidental expenses related to acquisition and installation of the concerned assets.

Depreciation has been provided on written down value (WDV) method at the rates and in the manner as prescribed in Schedule XIV of the Companies Act, 1956.

1.4. INVENTORIES

The stocks of raw materials including stores and spares, packing materials and finished goods have been taken at cost or net realizable value whichever is lower. The inventories are valued on the basis of First in and First out (FIFO) method.

1.5. ACCOUNTING FOR PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Provisions involving a substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be outflow of resources. Contingent liabilities are not recognized but are disclosed in the Notes to Accounts. Contingent Assets are neither recognized nor disclosed in the financial statements.

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Mar 31, 2010

1.1. ACCOUNTING CONVENTION

The accounts have been prepared on historical cost convention on accrual basis, in accordance with the requirements of The Companies Act, 1956 and Applicable Statutes and comply with the Accounting Standards referred to in section 211 (3C) of the Companies Act, 1956. Accounting Policies are consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting standard requires a change in accounting policy hitherto in use.

1.2. USE OF ESTIMATES

The preparation of financial statements requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of financial statements and the reported amount of revenue and expenses during the reporting period. The recognition, measurement, classification or disclosures of an item or information in the financial statements are made relying on these estimates. Any revision to accounting estimates is recognised prospectively

1.3. FIXED ASSETS

Fixed Assets are stated at their original cost of acquisition including taxes, duties, freight and other incidental expenses related to acquisition and installation of the concerned assets.

Depreciation has been provided on written down value (WDV) method at the rates and in the manner as prescribed in Schedule XIV of the Companies Act, 1956.

1.4. INVENTORIES

The stocks of raw materials including stores and spares, packing materials and finished goods have been taken at cost or net realizable value whichever is lower. The inventories are valued on the basis of First in and First out (FIFO) method.

1.5. ACCOUNTING FOR PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Provisions involving a substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be outflow of resources.

Contingent liabilities are not recognized but are disclosed in the Notes to Accounts. Contingent Assets are neither recognized nor disclosed in the financial statements.