Accounting Policies of Landmark Global Learning Ltd. Company

Mar 31, 2025

1. Significant Accounting Policies (AS-1 & ICDS-I)

(i) Basis of accounting and preparation of financial statements

These financial statements have been prepared under the historical cost convention on a going concern basis, on the accrual basis of accounting in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP). Indian GAAP comprises mandatory accounting standards as specified under section 133 of the Act, read with the Companies (Accounting Standards) Rules , 2021 and other accounting pronouncement of The Institute of Chartered Accountants of India.

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

(ii) Use of estimates

The preparation of the financial statements in conformity with Indian Generally Accepted Accounting Principles requires the management to make estimates and assumptions that affect the reported amount of assets and liabilities (including contingent liabilities) on the date of the financial statements and reported amount of revenues and expenses during the reporting period. Difference between the actual results and the estimates are recognized in the period in which the results are known/ materialized.

(iii) Valuation of Inventories (AS-2 & ICDS-II)

Company is not carrying any inventory during the year.

(iv) Revenue recognition (AS-9 &ICDS-IV)

Sales and Income

Revenue is recognized when sale invoice is raised , net of discounts and adjustments arising analysis variances.

(v) Fixed Assets & Depreciation (AS10 & ICDS-V)

- The Fixed Assets are stated at historical cost less depreciation.

- Depreciation is provided on Written Down Value Method at the rate and in the manner prescribed in schedule II of the Companies Act, 2013.

(vi) Retirement Benefit

The retirement benefits adopted by the company are as follows :

a) Provident Fund & Employee State Insurance :

Contribution to Provident Fund & Employee State Insurance Scheme is made in accordance with the relevant scheme/fund, Act and is treated as revenue expenditure.

b) Gratuity :

Provision for gratuity has been provided as per the actuary valuation on the basis of Actuarial Practise Standards. Detail of present value of obligation is as per table below :