Accounting Policies of Oneclick Logistics Ltd. Company

Mar 31, 2025

2 SIGNIFICANT ACCOUNTING POLICIES
a Basis of Preparation

1. 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 certai n financial i nstruments which a re measured at fair value.

2. Accounting policies not specifically referred to otherwise are consistent with generally accepted accounting
pri nci pl es.

3. The Company generally follows mercantile system of accounting and all income and expenditure items having a
materi a l bea ring on the financial statements a re recognised on accrual basis.

b 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 the financial statements and the reported amount of revenues and
expenses during the reporting period. Differences between the actual results and estimates are recognised in the
period in which the results are known/material ised.

c Property, Plant and Equipment

Property, Plant and Equipment are stated at cost, less accumulated depreciation / amortisation. Costs include all
expenses i ncurred to bring the asset to its present l ocation and condition.

Property, Plant and Equi pment excl ude computers and other assets individually costi ng Rs. XXXX or less which are not
ca pita lised except when they a re pa rt of a larger ca pita l i nvestment progra mme.

d Depreciation and amortization

Depreciation has been provided on the Fixed Asset on the WDV method and in accordance with the useful life of the
Asset as prescribed under Schedule II of the Companies Act, 2013.

The useful life of the Assets has been taken as below;

e 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 fl ows expected from the continuing use of the asset and from its disposal a re discounted to thei r present value
using a pre-tax discount ratethat reflects the current market assessments of timevalue of money and the risks specific
to the asset. Reversal of impai rment loss is recognised as i ncome in the statement of profit and loss.

f Leases

Assets taken on leaseby theCompany inits capacity as lessee, where theCompany has substantially all the risks and
rewa rds of owners hip areclassified as finance lease.Such a lease is capitalised atthe i nception of thelease atl ower
of the fair value or the present value of the minimum lease payments and a liability is recognised for an equivalent
amount. Each lease rental paid is allocated between the liability and the interest cost so as to obtain a constant
periodic rate of interest on the outstanding liability for each year.

Lease arra ngements where therisks and rewa rds i ncidenta l to ownershi p of an assetsubstantially vest with the lessor,
a re recognised as operati ng leases. Lease rentals under operati ng leases a re recognised inthe statement of profit and
loss on a straight-line basis.

g Investment

Long-term investments and current maturities of long-term investments are stated at cost, less provision for other than
temporary diminution in value. Current investments, except for current maturities of long-term investments,
comprising investments in mutual funds, government securities and bonds are stated at the lower of cost and fair
val ue.

h Inventories

The Company is engaged in rendering services and does not hold any inventories.
i Cash and cash equivalents

The Company considers all highly liquid financial instruments, which are readily convertible into known amount of
cash thatares ubject to an insignificant risk of cha nge in valueand having original maturiti es of three months or less
from the date of purchase, to be cash equival ents.

j Revenue recognition

1. Revenue is recognised upon tra nsfer of control of promised product or servi ces to customer in ana mount that refl ect
the consideration which the company expects to receive in exchange for those product or services for the
consideration received or receivable, which is general ly the transaction price.

2. The Compa ny recognise revenue when consignment cl ea red all clearance and reached desti nation poi nt.

3. Revenue related to referral fees recognised when final confirmation received from the customers.

4. Unbilled revenue represents revenue recognised for which billing is yet to be done due to completion of partial
services.

k Employee Benefits

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 ateach balance sheet
date. Actua rial gains and losses are recognised in full in the statement of profit and loss for the peri od i n which they
occur. Past servi ce cost is recognised i mmediately to the extent that the benefits are al ready vested, ora mortised 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.

The Gratuity liability which is determined on the basis of valuation carried out by an independent actuary (under
projected unit credit method) at the Ba lance Sheet date.

Leave encashment : Company does not have any policy related to encashment of leave pending at the end of the
year/period or during the year, hence no provision is made.

Other employee benefits

The undiscounted a mount of short-term empl oyee benefits expected to bepaid in excha nge for the servi ces rendered by
empl oyees is recognised during the peri od when the empl oyee 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 theend of the period in which the
employee renders the related services are recognised as an actuarial ly determined liability at the present val ue of the
defi ned benefit obligation at the balance sheet date.

l Foreign currency transactions

In Preparing the financial statements of the company , transaction in currencies other than the entity''s functional
currency (foreign currencies) are recognised at the rates of exchange prevailing at the date of transaction. Foreign
Excha nge losses and gain resulti ng from the settl ement of such tra nsaction a re genera lly recognised i n profit or loss in
the yea r i n which they arise.

m 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 inaccordance with tax laws applicable incountries where such operations are
domi ciled.

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
evidencethattheCompany will pay normal incometax after the tax holiday period. Accordingly, MATis 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 fructify.

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 i ntends to settl e the asset and liability on a net basis.

The Company offsets deferred tax assets and deferred tax liabilities if it has a legal ly enforceable right and these relate
to taxes on i ncome l evied by the same governi ng taxation laws.

n Earnings Per Shares

Basic earning per share is computed by dividing the net profit or loss for the period attributable to equity shareholders
by the weighted average number of equity shares outstanding during the period. Diluted earning per share is computed
by taking into account the weighted average number of equity shares outstanding during the period and the weighted
average number of equity shares which would be issued on conversion of all dilutive potential equity shares into
equity shares.ffl

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Mar 31, 2024

2 SIGNIFICANT ACCOUNTING POLICIES

2.1 BASIS OF ACCOUNTING AND PREPARATION OF FINANCIAL STATEMENTS

(i) The financial statements have been prepared under the historical cost convention in
accordance with the applicable accounting principles in India, Accounting Standard
notified under sub-section (2) of Section 2 of the Companies Act 2013 and relevant
provisions as adopted consistently of the Companies Act , 2013,

(ii) Accounting policies not specifically referred to otherwise are consistent with generally
accepted accounting principles.

(iii) The Company generally follows mercantile system of accounting and all income and
expenditure items having a material bearing on the financial statements are recognised
on accrual basis.

2.2 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 the
financial statements and the reported amount of revenues and expenses during the
reporting period. Differences between the actual results and estimates are recognised in
the period in which the results are known/materialised.

2.3 PROPERTY , PLANT & EQUIPMENT

(i) As per business transfer agreement dated 10 February 2023, the Company has
acquired Property, plant and equipment. Acquisition Cost has been taken as WDV as
on this date. Residual Life of an asset has been estimated from the date of Acquisition
of respective Property, plant and equipment as follows :

Computers - 3 years
Furniture and fixtures - 10 years
Mobile phone - 5 years

(ii) The fixed assets are stated at their cost of acquisition less accumulated depreciation.
Depreciation on the fixed assets of the company is provided on the straight line method
at the rate specified in Schedule II of the Companies Act, 2013 as amended up to date.

(iii) Depreciation on the assets purchased during the period has been provided on pro-rata
basis with reference to the date asset is put to use.

2.4 REVENUE RECOGNITION

(i) Revenue is recognised upon transfer of control of promised product or services to
customer in an amount that reflect the consideration which the company expects to
receive in exchange for those product or services for the consideration received or
receivable, which is generally the transaction price.

(ii) The Company recognise revenue when consignment cleared all clearance and
reached destination point.

(iii) Revenue related to referral fees recognised when final confirmation received from
the customers.

(iv) Unbilled revenue represents revenue recognised for which billing is yet to be done
due to completion of partial services.

2.5 FOREIGN CURRENCY TRANSACTION

In Preparing the financial statements of the company , transaction in currencies other
than the entity''s functional currency (foreign currencies) are recognised at the rates of
exchange prevailing at the date of transaction. Foreign Exchange losses and gain
resulting from the settlement of such transaction are generally recognised in profit or
loss in the year in which they arise.

2.6 EARNING PER SHARE

The Company reports basic earning per share in accordance with AS-20 for "Earning
Per share" issued by the ICAI. Basic earning per share has been computed by dividing
net profit after tax by the weighted average number of equity shares outstanding for the
year.

2.7 LEASES

Leases in which a significant portion of the risks and rewards of ownership are not
transferred to the Company as lessee are classified as operating leases. Payments made
under operating lease (net of any incentives received from the lessor) are charged to the
profit and loss on a straight line basis over the period of the lease unless the payments
are structured to increase in line with expected general inflation to compensate for the
lessor''s expected inflationary cost increases.

2.8 EMPLOYEE BENEFITS
Defined Contribution plan :

Contribution towards provident fund is made to the regulatory authorities, where the
company has no further obligations. The company does not carry any further
obligations, apart from the contributions made on a monthly basis which are charged
to the Statement of Profit and Loss.

Defined benefit plan :

The Company has a unfunded defined benefit gratuity plan. The gratuity plan is
governed by the Payment of Gratuity Act, 1972. Under the Act, employee who has
completed five years of service is entitled to specific benefit. The level of benefits
provided depends on the member''s length of service and salary at retirement age.
Every employee who has completed five years or more of service gets a gratuity on
departure at 15 days salary (last drawn salary) for each completed year of service as per
the provision of the Payment of Gratuity Act, 1972.

The Gratuity liability which is determined on the basis of valuation carried out by an
independent actuary (under projected unit credit method) at the Balance Sheet date.

Leave encashment : Company does not have any policy related to encashment of leave
pending at the end of the year/period or during the year, hence no provision is made.