Accounting Policies of Moksh Ornaments Ltd. Company

Mar 31, 2025

I Basis of Preparation of Financial Statements:

a) These financial statements are prepared in accordance with Indian Generally Accepted Accounting Principles
(GAAP) under the historical cost convention on the accrual basis except for certain financial instruments which
are measured at fair values. GAAP comprises mandatory accounting standards as prescribed under Section
133 of the Companies Act, 2013 (‘the Act’) read with Rule 7 of the Companies (Accounts) Rules, 2014, the
provisions of the Act (to the extent notified) 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 the accounting
policy hitherto in use.

b) The Company follows mercantile system of accounting and recognizes all
significant items of income and expenditure on accrual basis.

c) All income & expenditure having material bearing on the financial statements are recognised on an accrual basis.

d) Use of Estimates: The preparation of financial statements in confrmity with generally accepted accounting
principles requires management to make assumptions and estimates which it believes are reasonable under the
circumstances that affect the reported amounts of assets, liabilities and contingent liabilities on the

date of financial statements and the reported amounts of revenue and expenses during the year.

Actual results could differ from those estimates. Difference between the actual results and estimates
are recognised in the year in which the results are known / materialized.

II Statement of Significant Accounting Policies:

A Fixed Assets:

All fixed assets are stated at Historical Cost less Depreciation except in the case of
Land and Site Development whereas it is stated at Cost Plus Development expenditure
The expenses incurred in setting up the project are capitalised and apportioned to the
assets procured for that project in proportion to the value of each of the asset.

B Depreciation:

The depreciation on fixed assets has been provided on Written Down Value method

over the useful life of assets as prescribed under Part C of Schedule II of the Companies Act 2013

Depreciation is not provided on Land.

Depreciation on Assets acquired for the project are provided on Commercialisation and
depreciation on other assets if put into use is provided accordingly. The management estimates the
useful lifes for the F ixed Asset as follows

D Goods and Service Tax

GST is accounted on the basis of payments made in respect of goods cleared.
on capital goods, raw materials and services

as the case may be are accounted on receipt / completion of contracts, job works etc.

E Revenue Recognition: AS - 9

Revenue in respect of sales is recognised as and when goods are supplied and in respect of insurance
claims, interest etc., is recognised when it is reasonably certain that the ultimate
collection will be made.

F Taxation

Provision for current tax is made on the basis of the estimated taxable income for the current accounting year
in accordance with the provision of the IT Act 1961,

Deferred Tax is accounted for by computing the tax effect of timing differences, which arise during the
the year and reversed in subsequent periods. Deferred Tax assets on accumulated losses and
unabsorbed depreciation are recognised only to the extent there is certainty of realisation of such asset in future.
Deffered Tax is not calculated on Additional Depreciation tax during the year.

G Earnings Per Share :

The basic and diluted Earnings Per Share is calculated by dividing the proft/(loss) after tax by the
weighted average number of equity shares outstanding.

H Impairment of Assets :

At each Balance Sheet date, the carrying values of the assets are reviewed to determine whether there is any indication
that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset
is estimated in order to determine the extent of the impairment loss (if any). Where there is an indication that there is a
likely impairment loss for a group of assets, the company estimates the recoverable amount of the group of assets
as a whole, to determine the value of impairment.

I Investments:

Investments are stated at cost.

J Borrowing Costs : AS 16

Borrowing Costs attributable to acquisition, production of qualifying assets are capitalised as part

of the cost of that asset, till the period in which the asset is ready for use. Other borrowing costs are recognised

as an expense in the period in which these are incurred.

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Mar 31, 2024

38 Significant Accounting Policies & Notes to Accounts

I Basis of Preparation of Financial Statements;

a) These financial statements are prepared in accordance with Indian Generally Accepted Accounting Principles (GAAP) under the historical cost convention on the accrual basis except for certain financial instruments which are measured at fair values. GAAP comprises mandatory accounting standards as prescribed under Section 133 of the Companies Act, 2013 (‘the Act'') read with Rule 7 of the Companies (Accounts) Rules, 2014, the provisions of the Act (to the extent notified) 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 the accounting policy hitherto in use.

b) The Company follows mercantile system of accounting and recognizes all significant items of income and expenditure on accrual basis.

c) All income & expenditure having material bearing on the financial statements are recognised on an accrual basis.

d) Use of Estimates: The preparation of financial statements in confirmity with generally accepted accounting principles requires management to make assumptions and estimates which it believes are reasonable under the circumstances that affect the reported amounts of assets, liabilities and contingent liabilities on the

date of financial statements and the reported amounts of revenue and expenses during the year.

Actual results could differ from those estimates. Difference between the actual results and estimates are recognised in the year in which the results are known / materialized.

U Statement of Significant Accounting Policies:

A Fixed Assets:

All fixed assets are stated at Historical Cost less Depreciation except in the case of Land and Site Development whereas it is stated at Cost Plus Development expenditure The expenses incurred in setting up the project are capitalised and apportioned to the assets procured for that project in proportion to the value of each of the asset.

B Depreciation:

The depreciation on fixed assets has been provided on Written Down Value method

over the useful life of assets as prescribed under Part C of Schedule II of the Companies Act 2013

Depreciation is not provided on Land.

Depreciation on Assets acquired for the project are provided on Commercialisation and depreciation on other assets if put into use is provided accordingly. The management estimates the useful lifes for the Fixed Asset as follows

__I_______

C Inventories:

Inventories are valued as under:

Finished Goods: At realizable value or cost whichever is lower.

D Goods and Service Tax

GST is accounted on the basis of payments made in respect of goods cleared, on capital goods, raw materials and services

as the case may be are accounted on receipt / completion of contracts, job works etc.

E Revenue Recognition: AS - 9

Revenue in respect of sales is recognised as and when goods are supplied and in respect of insurance claims, interest etc., is recognised when it is reasonably certain that the ultimate collection will be made.

F Taxation

Provision for current tax is made on the basis of the estimated taxable income for the current accounting year in accordance with the provision of the IT Act 1961,

Deferred Tax is accounted for by computing the tax effect of timing differences, which arise during the

the year and reversed in subsequent periods. Deferred Tax assets on accumulated losses and

unabsorbed depreciation are recognised only to the extent there is certainity of realisation of such asset in future.

Deffered Tax is not calculated on Additional Depreciation tax during the year

The disclosure as per Accounting Standard (AS) 22 Taxes on Income" as notified by Companies

(Accounting Standard) Rules,2006 are as under:

G Earnings Per Share :

The basic and diluted Earnings Per Share is calculated by dividing the profit/(loss) after tax by the weighted average number of equity shares outstanding.

H Impairment of Assets :

At each Balance Sheet date, the carrying values of the assets are reviewed to determine whether there is any indicatioi that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset | is estimated in order to determine the extent of the impairment loss (if any). Where there is an indication that there is a likely impairment loss for a group of assets, the company estimates the recoverable amount of the group of assets as a whole, to determine the value of impairment.

I Investments:

Investments are stated at cost.

J Borrowing Costs : AS 16

Borrowing Costs attributable to acquisition, production of qualifying assets are capitalised as part

of the cost of that asset, till the period in which the asset is ready for use. Other borrowing costs are recognised

as an expense in the period in which these are incurred.

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Mar 31, 2023

Significant Accounting Policies & Notes to Accounts

I Basis of Preparation of Financial Statements:

_a) These financial statements are prepared in accordance with Indian Generally Accepted Accounting Princi (GAAP) under the historical cost convention on the accrual basis except for certain financial instrument are measured at fair values. GAAP comprises mandatory accounting standards as prescribed under Sect of the Companies Act, 2013 (‘the Act’) read with Rule 7 of the Companies (Accounts) Rules, 2014, the provisions of the Act (to the extent notified) and guidelines issued by the Securities and Exchange Board (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 the accounting polic hitherto in use.

b) The Company follows mercantile system of accounting and recognizes all significant items of income and expenditure on accrual basis.

c) All income & expenditure having material bearing on the financial statements are recognised on an accrual basis.

d) Use of Estimates: The preparation of financial statements in confirmity with generally accepted accounting principles requires management to make assumptions and estimates which it believes are reasonable under the circumstances that affect the reported amounts of assets, liabilities and contingent liabilities on the

date of financial statements and the reported amounts of revenue and expenses during the year.

Actual results could differ from those estimates. Difference between the actual results and estimates are recognised in the year in which the results are known / materialized.

II Statement of Significant Accounting Policies:

A Fixed Assets:

All fixed assets are stated at Historical Cost less Depreciation except in the case of Land and Site Development whereas it is stated at Cost Plus Development expenditure The expenses incurred in setting up the project are capitalised and apportioned to the assets procured for that project in proportion to the value of each of the asset.

B Depreciation:

The depreciation on fixed assets has been provided on Written Down Value method

over the useful life of assets as prescribed under Part C of Schedule II of the Companies Act 20B

Depreciation is not provided on Land.

Depreciation on Assets acquired for the project are provided on Commercialisation and depreciation on other assets if put into use is provided accordingly. The management estimates the useful lifes for the F ixed Asset as follows

C Inventories:

Inventories are valued as under:

Finished Goods: At realizable value or cost whichever is lower.

D Goods and Service Tax

GST is accounted on the basis of payments made in respect of goods cleared. on capital goods, raw materials and services

as the case may be are accounted on receipt / completion of contracts, job works etc.

E Revenue Recognition: AS - 9

Revenue in respect of sales is recognised as and when goods are supplied and in respect of insurance claims, interest etc., is recognised when it is reasonably certain that the ultimate collection will be made.

F Taxation

Provision for current tax is made on the basis of the estimated taxable income for the current accounting year in accordance with the provision of the IT Act 1961,

Deferred Tax is accounted for by computing the tax effect of timing differences, which arise during the the year and reversed in subsequent periods. Deferred T ax assets on accumulated los

unabsorbed depreciation are recognised only to the extent there is certainity of realisation of such asset in future. Deffered T ax is not calculated on Additional Depreciation tax during the year.

The disclosure as per Accounting Standard (AS) 22 “Taxes on Income” as notified by Companies

(Accounting Standard) Rules,2006 are as under:

G Earnings Per Share :

The basic and diluted Earnings Per Share is calculated by dividing the profit/(loss) after tax by the weighted average number of equity shares outstanding.

H Impairment of Assets :

At each Balance Sheet date, the carrying values of the assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where there is an indication that there is a likely impairment loss for a group of assets, the company estimates the recoverable amount of the group of assets as a whole, to determine the value of impairment.

I Investments:

Investments are stated at cost.

J Borrowing Costs : AS 16

Borrowing Costs attributable to acquisition, production of qualifying assets are capitalised as part

of the cost of that asset, till the period in which the asset is ready for use. Other borrowing costs are recognised

as an expense in the period in which these are incurred.