Accounting Policies of Iware Supplychain Services Ltd. Company

Mar 31, 2025

2 SIGNIFICANT ACCOUNTING POLICIES

2.1 Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with the Generally Accepted Accounting Principles in India (''Indian GAAP'') to
comply with the Accounting Standards specified under Section 133 of the Companies Act, 2013, as applicable. The financial statements have
been prepared under the historical cost convention on accrual basis, except for certain financial instruments which are measured at fair val

2.2 Basis of Preparation of Cash Flow Statement

The Cash Flow Statement is prepared and presented in accordance with the provisions of enerally Accepted Accounting Principles in India
(''Indian GAAP''), Statement of Cash Flows, as notified under the Companies (Indian Accounting Standards) Rules, 2015, and the relevant
provisions of the Companies Act, 2013.

The statement reports cash flows classified into operating, investing, and financing activities based on the following principles:

Include cash flows primarily derived from the principal revenue-generating activities of the Company.

Include cash flows from the acquisition and disposal of long-term assets and investments.

Include cash flows related to changes in the size and composition of the Company''s equity and borrowings.

The Cash Flow Statement is prepared using the indirect method, where net profit or loss is adjusted for the effects of non-cash transactions,
changes in working capital, and other income or expenses related to investing or financing activities.

Cash and cash equivalents for the purpose of the Cash Flow Statement include cash on hand, demand deposits, and short-term, highly liquid
investments that are readily convertible into known amounts of cash and subject to an insignificant risk of changes in value.

2.3 Use of Estimates

The preparation of financial statements requires the management of the Company to make estimates and assumptions that affect the reported
balances of assets and liabilities and disclosures relating to the contingent liabilities as at the date of the financial statements and reported
amounts of income and expense during the year. Examples of such estimates include provisions for doubtful receivables, provision for income
taxes, the useful lives of depreciable fixed assets and provision for impairment. Future results could differ due to changes in these estimates
and the difference between the actual result and the estimates are recognised in the period in which the results are known / materialise.

2.4 Basis of Accounting

The company follows the mercantile system of accounting and recognizes income & expenditure on accrual basis unless specifically stated
otherwise. The financial statements are prepared under historical cost convention on going concern basis in accordance with the applicable
mandatory accounting standards issued by the Institute of Chartered Accountants of India and relevant provisions of the Companies Act, 2013.
The accounting policies are consistent with those while preparing the financial statements for the year ended 31-03-2024 and the stub-period
taken into consideration while making the restated Financials as on 31-1

2.5 Property, Plant and Equipment

Fixed Assets are stated at cost less accumulated depreciation. The cost of assets comprises of purchase price and directly attributable cost of
bringing the assets to working condition for its intended use including borrowing cost and incidental expenditure during construction incurred
up to the date of commissioning.

2.6 Intangible assets

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

2.7 Depreciation and Amortization

Depreciation on Property, plant and equipment has been provided on WDV basis as per Part-C, Schedule II of the Companies Act
2013.Depreciation on additions to/deletions from Property, plant and equipment is provided on pro-rata basis from/up to the date of such
addition/deletion, as the case may be.

2.8 Capital Work in Progress (CWIP)

Capital Work in Progress (CWIP) represents expenditure incurred for the construction, development, or acquisition of fixed assets that are not
yet ready for use as of the reporting date. This includes costs directly attributable to the acquisition or construction of assets, such as material,
labor, overheads, and other costs associated with bringing the asset into working condition.
a Capitalization of Costs

Costs directly attributable to the acquisition or construction of an asset are capitalized as CWIP until the asset is ready for use. Once the asset
is completed and ready for use, the amount of CWIP is transferred to the respective fixed asset category (e.g., buildings, plant, or machine

b Interest During Construction

Any interest or borrowing costs directly attributable to the acquisition or construction of the asset are capitalized as part of CWIP, in
accordance with enerally Accepted Accounting Principles in India (''Indian GAAP'') , Borrow
c Period of Capitalization

Costs incurred for the construction or acquisition of assets are capitalized as CWIP until the asset is substantially complete and ready for its
intended use. Once the asset is ready for use, all subsequent costs related to the asset are recognized as part of the fixed asset cost and
depreciation begin

CWIP is disclosed separately in the balance sheet under non-current assets. The total value of CWIP, along with details of significant projects
under construction or development, is disclosed in the notes to the financial statements.osts incurred for the construction or acquisition of
assets are capitalized as CWIP until the asset is substantially complete and ready for its intended use. Once the asset is ready for use, all
subsequent costs related to the asset are recognized as part of the fixed asset cost and depreciation begins.

2.9 Impairment of assets

At each balance sheet date, the management reviews the carrying amounts of its assets included in each cash generating unit to determine
whether there is any indication that those assets were impaired. If any such indication exists, the recoverable amount of the asset is estimated
in order to determine the extent of impairment. Recoverable amount is the higher of an asset''s net selling price and value in use. In assessing
value in use, the estimated future cash flows expected from the continuing use of the asset and from its disposal are discounted to their present
value using a pre-tax discount rate that reflects the current market assessments of time value of money and the risks specific to the asset.
Reversal of impairment loss is recognised as income in the statement of profit and loss.

2.10 Basis of Classification of Assets and Liabilities into current/non-current

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

2.11 Borrowing Costs

Borrowing cost, if any, that is attributable to the acquisition, construction or production of qualifying assets is capitalized as part of such
assets. The qualifying asset is an asset that necessarily takes substantial period of time to get ready for its intended use. All other borrowing
cost is recognized as expenses in the period in which they are incurred.

2.12 Inventories

Company Revenue is Generating & Company is dealing in Warehousing Management & Last Mile Distribution backed by World class IT Support
System for Transportation Services. So, the Inventory Policy is not Applicable to the Company.

2.13 Revenue recognition

Company Revenue is Generating &Company is dealing in Warehousing Management under which Revenue Recognition done after complete of
the supply of Service to Supplier.

Sales are recorded when risk and rewards of ownership of the products are passed on to the customers. Sales are net of Sales Return, Goods
and Service Tax and Intra Company transaction. Revenue is recognized only when it can be reliably measured & it is reasonable to expect
ultimate collection. All material known liabilities are provided for based on available information & supporting documents. Whenever external
evidence for expenses are not available, authorization & certification of management is placed on record.

Revenue in respect of Insurance/other claims, overdue Interest/Dividend etc. is recognized only when it is reasonably certain that the ultimate
collection will be made.

2.14 Employee Benefits

a Post-employment benefit plans

Contributions to defined contribution retirement benefit schemes are recognised as expense when employees have rendered services entitling
them to such benefits.

For defined benefit schemes, the cost of providing benefits is determined using the Projected Unit Credit Method, with actuarial valuations
being carried out at each balance sheet date. Actuarial gains and losses are recognised in full in the statement of profit and loss for the period
in which they occur. Past service cost is recognised immediately to the extent that the benefits are already vested, or amortised on a straight¬
line basis over the average period until the benefits become vested.

The retirement benefit obligation recognised in the balance sheet represents the present value of the defined benefit obligation as adjusted for
unrecognised past service cost, and as reduced by the fair value of scheme assets. Any asset resulting from this calculation is limited to the
present value of available refunds and reductions in future contributions to the scheme.
b Other employee benefits

The undiscounted amount of short-term employee benefits expected to be paid in exchange for the services rendered by employees is
recognised during the period when the employee renders the service. These benefits include compensated absences such as paid annual
leave, overseas social security contributions and performance incentives.

Compensated absences which are not expected to occur within twelve months after the end of the period in which the employee renders the
related services are recognised as an actuarially determined liability at the present value of the defined benefit obligation at the balance sheet
date.

Defined Benefits Plans

The Company''s liability towards Gratuity of Employees of the company is provided for as per actuarial valuation carried out by an independent
actuary as at the year end.

2.15 Statutory Dues

As per the information & explanation given to us the company is regular in departing undisputed dues.

2.16 Expenditure

All material known liabilities are provided for based on available information & supporting documents. Whenever external evidence for
expenses is not available, proper care for authorization & certification has taken by the management.

2.17 Option of the Board of Directors

In the opinion of the Board of Directors of the Company and to their best of knowledge and belief all the Current Assets and Loans and
Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance
Sheet.

2.18 Taxation

Current income tax expense comprises taxes on income from operations in India and in foreign jurisdictions. Income taxpayable in India is
determined in accordance with the provisions of the Income Tax Act, 1961. Tax expense relating to foreign operations is determined in
accordance with tax laws applicable in countries where such operations are domiciled.

Minimum Alternative Tax (MAT) paid in accordance with the tax laws in India, which gives rise to future economic benefits in the form of
adjustment of future income tax liability, is considered as an asset if there is convincing evidence that the Company will pay normal income tax
after the tax holiday period. Accordingly, MAT is recognised as an asset in the balance sheet when the asset can be measured reliably and it is
probable that the future economic benefit associated with it will

Deferred tax expense or benefit is recognised on timing differences being the difference between taxable income and accounting income that
originate in one period and is likely to reverse in one or more subsequent periods. Deferred tax assets and liabilities are measured using the tax
rates and tax laws that have been enacted or substantively enacted by the balance sheet date.

Advance taxes and provisions for current income taxes are presented in the balance sheet after off-setting advance tax paid and income tax
provision arising in the same tax jurisdiction for relevant tax paying units and where the Company is able to and intends to settle the asset and
liability on a net basis.

The Company offsets deferred tax assets and deferred tax liabilities if it has a legally enforceable right and these relate to taxes on income
levied by the same governing taxation laws.

The Company has opted for taxation under Section 115BAA of the Income-tax Act, 1961. Accordingly, the Company recognizes its current tax
and deferred tax liabilities based on the reduced corporate tax rate specified under Section 115BAA, while adhering to the provisions and
conditions prescribed therein.

2.19 Earnings per Share

Basic and Diluted Earning per Share are computed in accordance with AS 20-Earning Per Share. Basic earnings per Equity Share is computed by
dividing net profit after tax by the weighted average number of Equity Shares outstanding during the year. The Diluted Earning per Share i
computed using the weighted average number of Equity Shares and Diluted Potential Equity Shares outstanding during the year.

2.20 The Balances of Sundry Debtors

Trade receivables represent amounts due from customers for services rendered in the ordinary course of business. They are recognized at the
transaction price agreed upon in the service contract, which represents their fair value at initial recognition. Receivables are written off when
there is no reasonable expectation of recovery, such as when a customer is declared insolvent or efforts to recover are exhausted.

2.21 The Balances of Sundry Creditors

Trade payables represent obligations to pay for goods or services acquired in the ordinary course of business. They are initially recognized at
transaction price. Trade payables are settled in accordance with agreed credit terms. Any variations in settlement, such as early payment
discounts or late payment charges, are recognized in the period they arise. Trade payables are classified basis the Schedule III Division I ofThe
Companies Act, 2013

The amount due to Micro, small and medium enterprise in the "Micro, small and medium Enterprise Development Act,2006"(MSMED)has been
determined to the extent such parties have been identified on the basis of information available with the company.