Accounting Policies of Mach Conferences & Events Ltd. Company

Mar 31, 2025

Company Overview

Mach Conferences and Events Limited ("the Company") is a company limited by shares, incorporated
and domiciled in India. The Company is engaged in the business of Event & Conferences (Tourism
business that involves meetings, incentives, conferences and exhibitions for corporate groups). The
Registered office at “Office No-4, 2nd/Floor, Master Space Plot No-27 Kh/Mustatil No-154 Killa No-
19/2, Uggarsain Park, Dichaon Road Najafgarh Street No- 2, Najafgarh, South West Delhi, 110043”,
Corporate Office: C-127, 2nd Floor, Sector-2, Noida, Uttar Pradesh-201301.

A-Notes on Standalone;

a) Basis of Preparation of Financial Statements

These Standalone financial statements have been prepared in accordance with the Generally Accepted
Accounting Principles in India (Indian GAAP) including the Accounting Standards notified under
Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014
and the relevant provisions of the Companies Act, 2013.

The Standalone financial statements have been prepared under the historical cost convention on accrual
basis.

The Standalone financial statements are presented in INR, which is also the Company’s functional
currency and all values are rounded to the nearest Lakh (INR 00,000), except when otherwise indicated.

Ministry of Corporate Affairs ("MCA") through a notification dated March 24, 2021, amended Division
I of Schedule III of the Companies Act, 2013 and applicable for the reporting period beginning on or
after April 1, 2021. The amendment encompasses certain additional disclosure requirements. The
Company has applied and incorporated the requirements of amended Division I of Schedule III of the
Companies Act, 2013, to the extent applicable on it while preparing these financial statements.

b) Background

The Company is engaged in the business of Event & Conferences (Tourism business that involves
meetings, incentives, conferences and exhibitions for corporate groups).

c) Summary of Significant Accounting Policies

This note provides a list of the significant accounting policies adopted in the preparation of these
financial statements. These policies have been consistently applied to all the years presented, unless
otherwise stated.

i. Basis of Preparation

The financial statements of the Company have been prepared in accordance with generally accepted
accounting principles in India (Indian GAAP). The Company has prepared these financial statements to
comply in all material respects with the accounting standards notified under relevant provisions of the
Companies Act, 2013. The financial statements have been prepared on an accrual basis and under the
historical cost convention. The accounting policies have been consistently applied by the Company and
are consistent with those used in the previous year.

ii. Use of Estimates

The preparation of financial statements in conformity with Generally Accepted Accounting Principles
requires management to make estimates and assumptions that affect the reported amounts of assets,
liabilities and contingent liabilities at the reported date and the reported amounts of revenues and
expenses during the reporting period. Although these estimates are based on the managements’ best
knowledge of current events and actions, actual results could differ from these estimates. Any revision
in accounting estimate is recognized prospectively in current and future periods.

iii. Inventory Valuation

The Company is engaged in the business of service provider therefore inventory valuation is not
applicable.

iv. Construction Contracts

The company is not involved in any type of construction contracts. Hence this is not applicable.

v. Revenue recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the
Company and the revenue can be reliably measured.

Income from service

Revenue from Tour Operator, Sales exclude Goods & Service Tax, sales tax, value added tax and work
contract tax but include excise duty. Commission earned is accounted for as part of revenue from
operations. Revenue from sale of service is recognized, net of trade discounts and rebates, when the
substantial risks and rewards of ownership are transferred to the buyer under the terms of contract.

Interest Income

Income from interest on deposits is recognized on the time proportion method taking into consideration
the amount outstanding and the applicable interest rate.

vi. Property, Plant and Equipment’s and Depreciation

Fixed asset, Property, Plant & Equipment including intangible assets are stated at their original cost of
acquisition including taxes, freight and other incidental expenses related to acquisition and installation
of the concerned assets less depreciation till date. Further:

Tangible Assets

Property, Plants & Equipment’s are stated at as per Cost Model i.e., at cost less accumulated depreciation
and impairment, if any. Costs directly attributable to acquisition are capitalized until the property, plant
and equipment are ready for use, as intended by the management. Cost comprises the purchase price and

any attributable cost of bringing the asset to its working condition for its intended use. Input tax credit
of GST, Grants on capital goods are accounted for by reducing the cost of Capital Goods.

Subsequent expenditures relating to property, plant and equipment are capitalized only when it is
probable that future economic benefits associated with them will flow to the Company and the cost of
the expenditure can be measured reliably. Repairs and Maintenance costs are recognised in the Statement
of Profit and Loss when they are incurred.

When assets are disposed or retired, their cost is removed from the financial statements. The gain or loss
arising on the disposal or retirement of an asset is determined as the difference between sales proceeds
and the carrying amount of the asset and is recognized in Statement of Profit and Loss for the relevant
financial year

Intangible Assets

Intangible assets purchased are initially measured at cost. The cost of an intangible asset comprises its
purchase price including any costs directly attributable to making the asset ready for their intended use.

v. Foreign currency Transactions

a) Initial Recognition: Foreign currency transaction, are recorded in the reporting Currency,
by applying the exchange rate between the reporting currency and the foreign currency at
the date of the transaction.

b) Conversion: Foreign currency monetary items are reported using the closing rate

c) Exchange Difference: Exchange differences arising on the settlement of monetary items at
rates different from those at which they are initially recorded during the year or reported in
previous financial statement are recognized as income or as expenses at the end of year by
applying closing rate

vi. Government Grant

The Company has not received any type of Government grant. Hence this is not applicable.

vii. Borrowing Cost

Borrowing costs that are directly attributable to the acquisition or construction of qualifying assets are
capitalized as part of the cost of such assets till such time the asset is ready for its intended use. A
qualifying asset is one that necessarily takes substantial period of time to get ready for intended use.
Costs incurred in raising funds are amortized equally over the period for which the funds are acquired.
All other borrowing costs are charged to profit and loss account.

---

Mar 31, 2024

¦ v 1 V ''W^r ¦ ¦ P

A. Significant Accounting Policies

1. Basis of Preparation of financial statements (ICDS-I);

The Financial statement of company have been prepared in accordance with the generally accepted accounting principles in India (Indian GAAP) to comply with the Accounting standards notified under Section 133 of the Companies Act,2013, and the relevant provision of Companies Act,1956, as applicable. The financial statements have been prepared on accrual basis under the historical cost convention. The accounting policies adopted in the preparation of the financial statements are consisting with those followed in the previous year,

2. Use of estimates:

The preparation of financial statements in conformity with Indian GAAP requires the management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liability) and the reported income and expenses during the year. The management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates are recognized in the periods in which the result are known/materialized

3. Inventory Valuation (ICDS-1I):

The inventory valuation is made at cost or NR.V, whichever is lower.

4. Construction Contracts (ICDS-II1):

The company is not involved in any type of construction contracts. Hence this 1CDS is not applicable.

5. Own Fixed Asset (ICDS-V):

Fixed Asset are stated at cost, less accumulated depreciation. Cost includes all expenditures necessary to bring the asset to its working condition for its intended use.

6. Depreciation and amortization of fixed assets:

Depreciation on Fixed Assets is provided to the extent of depreciable amount on the Written down Value (WDV) Method. Depreciation is provided based on useful life of the assets as prescribed in Schedule II to the Companies Act, 2013.

7. Revenue Recognition (ICDS-IV)

Sales exclude sales tax, value added tax and work contract tax but include excise duty, Commission earned on consignment sales is accounted for as part of revenue from operations. Revenue from sale of goods is recognized, net of trade discounts and rebates, when the substantial risks and rewards of ownership are transferred to the buyer under die terms of contract. Service revenue is recognized on

rendering of services. Revenues from maintenance contracts are recognized pro-rata over the period of the contract,

8, Taxes on Income:

Tax expenses for a year comprises current tax and deferred tax. Current tax is measured at the amount expected to be paid to the next authorities, after taking into consideration the applicable deduction and exemption admissible under the Provision of the Income Tax act, 1961. Deferred tax resulting from" timing Difference" between taxable and accounting income is accounted by using the tax rate and laws that are enacted or substantively enacted as on the balance sheet date,

9, Earning per shares:

Rasic earnings per share is computed by dividing the profit/ [loss) after tax by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed by dividing the profit/[loss) after tax as adjusted for dividend, interest and other charges to expense or income relating to dilutive potential equity shares, by the weighted average number of equity share considered ior deriving basic earnings per share and the weighted average number of equity shares which could have been issued on the conversion of all dilutive potential equity shares.

10 Government Grant (ICDS-VII): -

The Company has not received any type of Government grant. Hence this 1CDS is not applicable.

11 Securities (ICDS-VIII):

Company does not deal in securities held as stock-in-trade and securities held by a scheduled bank or public financial institutions, Hence this ICDS is not applicable.

12 Borrowing Cost (I CDS-IX):

No borrowing cost has been capitalized during the year. Hence this ICDS is not applicable.

13 Provisions and contingencies (ICDS-X):

A provision is recognized when the company has a present obligation as result of past events and it is probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions are not discounted to their present value and are determined based on the best estimated required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

14 Cash and cash equivalents:

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances [with an original maturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes in value.

XTM f)

General;

Except wherever stated, accounting policies are consistent with the generally accepted accounting principles and have been consistently applied.