Accounting Policies of Panabyte Technologies Ltd. Company

Mar 31, 2025

A Corporate Information

Overview of the Company

1 Panabyte Technologies Limited (''the Company'') was incorporated on 16th June, 1981 under the Companies Act 1956 The company''s
identification No is L51100MFI1981PLC312742 The company is listed on Bombay Stock Exchange The registered office of the
company is located at Office No.105. Primus Business Park. Rot No A 195 Rd.No.16A. Ambika Nagar-2, Wagle Industrial Estate
Thane. Maharashtra. India. 400604

2 The Company is primarily engaged in trading of Consumer Electronic & Electrical Goods and IT Hardware & its peripherals and
Installation as well as Maintenance of Surveillance and Biometric systems

B Material Accounting Policies, practices annexed to & forming part of accounts for the year ending on 31st March 2025

2 Basis of Preparation

Financial Statements have been prepared in accordance with the accounting principles generally accepted in India including Indian
Accounting Standards find AS) prescribed under the Section 133 of the Companies Act. 2013 read with rule 3 of the Companies
(Indian Accounting Standards) Rules, 2015 as amended and relevant provisions of the Companies Act, 2013

Accordingly, the Company has prepared these Financial Statements which comprise the Balance Sheet as at 31st March, 2025, the
Statement of Profit and Loss for the year ended 31st March 2025, the Statement of Cash Flows for the year ended 31st March 2025
and the Statement of Changes in Equity for the year ended as on that date, and accounting policies and other explanatory information
(together hereinafter referred to as ’ Financial Statements'' or financial statements )

These financial statements ate approved for issue by the Board of Directors on 22nd May,2025

3 Compliance with Ind AS

The separate financial statements of the company are prepared in accordance with Indian Accounting Standards (Ind AS) under the
historical cost convention on the accrual basis as per the provisions of the Companies Act 2013 (The AcT), except for financial
instruments - measured at fair value or amortised cost

4 System of Accounting

2 1 The Company follows Mercantile System of Accounting and recognizes Income & Expenditure on an accrual basts

2.2 Accounts of the Company are prepared under the Historical Cost convention method. except for certain financial instruments
that are measured at fair value in accordance with Ind AS

2.3 Fair Value measurements under Ind AS are categorized as below, based on the degree to which inputs to the fair value
measurements are observable and the significance of the Inputs to their fair value measurement in its entirety.

a) Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets a liabilities that the company can access
at measurement date.

b) Level 2 inputs, other than quoted prices included in level 1, that are observable for the asset or liability, either directly or
indirectly, and

c) Level 3 inputs are unobservable inputs for the valuation of assets liabilities

5 Going Concern

Fundamental Accounting assumption of going concern is followed in preparation at the financial statement

6 Presentation of Financial Statements

The Balance Sheet and the Statement of Profit and Loss are prepared and presented in the format prescribed in the Schedule III lo the
Companies Act, 2013 (“the Act ") The statement of cash flows has been prepared and presented as per the requirements of Ind AS 7
"Statement of Cash flows" The disclosure requirements with respect to items in the Balance Sheet and Statement of Profit and Loss
os proscribed In the Schedule III to the Act, are presented by way of notes forming part of the financial statements along with the other
notes required to be disclosed under the notified Indian Accounting Standards and the SEBI (Listing Obligations and Disclosure
Requirements) Regulations 2015

All amounts in the Financial Statements are presented in Indian Rupees (INR).

7 Valuation of Properly Plant & Equipments & Intangible Assets & Depreciation/Amortisation policy
7.1 Method of Valuation Of Property. Plant & Equipments.

Property, Plant & Equipments (hereinafter referred to as PPE) is recognised when it is probable that future economic benefits
associated with the item will flow to (the company and the cost of such PPE can be measured reliably.PPE is stated at original
cost net of tax''duty credits availed it any, as reduced by accumulated depreciation and cumulative impairment

Expenditure for additions, improvements and renewals are capitalized and expenditure for maintenance and repairs are charged
to the profit & loss account

Depreciation

Depreciation on PPE is recognised using Straight Line Method so as to write off the cost of PPE less the residual Value over its
useful lives specified in Schedule- II of the Companies Act 2013 In case of PPE purchased''sold during the year Depreciation
has been provided on pro-rata basis

The Useful Life of Assets adopted by the management from Schedule II of Companies Act 2013 for calculating Depreciation to
be charged on different classes of Assets for the current year are as follows

7.2 Mathod of Valuation of intangible Assets

Intangible assets are recognised when it is probable that the future economic benefits that are attributable to the assets will flow
to the company and the cost of the asset can be measured reliably Intangible assets are staled at original cost net of tax''duty
credits availed, if any. as reduced by accumulated amortisation and cumulative impairment.

Amortisation

Amortisation charge on Intangible asset has been allocated on a systematic basis over the best estimate of useful life

8 Use Of Estimates

The preparation of Financial Statements in conformity with Indian Accounting Standards requires management to make judgments,
estimates and assumptions that affect the reported amounts of revenue, expenses assets and liabilities and disclosure of contingent
liabilities as at the date of financial statements and the results of operations during the reporting period As such estimates are based
on the management s best knowledge of the current events and actions, there are possibilities of such estimates resulting in outcome s
requiring material adjustment to the carrying amounts of assets or liabilities in future periods.

S Employee Benefits

9 1 Short Term Employee Benefits

Employes Benefits such as Salaries, Wages, short term compensated absences, and expected cost of bonus, ex-gratia, and
performance linked rewards falling due. wholly within twelve months of rendering the service are classified as short term
employee benefits and are expensed in the period in which the employee renders the related service

92 Post-Employment Benefits

a) Defined Contribution Plans

The company''s contributions to state governed provident fund scheme and employee state insurance scheme are the
defined contribution plans maintained by the company. The contribution paid/payable under the scheme is recognized during
the period in which the employee renders the totaled service

b) Defined Benefit Plans

The company has an obligation towards gratuity, a defined retirement plan covering eligible employees The plan provides for
a lump sum payment to vested employees at retirement, death while in employment or on termination of employment of an
amount based on the respective employee''s salary and me tenure of employment The present value or obligation under
defined benefit plans is determined based on actuarial valuation using the Protected Unit Credit Method

The obligation is measured at the present value of the estimated future cash flows using a discount rate based on the market
yield on government bonds with a maturity period, equivalent to the weighted average maturity profile of the defined benefit
obligations at the Reporting dale

Remeasurement comprising actuarial gams and losses is recognised in other comprehensive income and is reflected in
retained earnings and the same is not eligible to be reclassified to profit or loss.

Defined benefit employee costs comprising current service cost, past service cast and gams or losses on settlements are
recognised in the Statement of Profit and Loss as employee benefits expense. Excess gains or losses on settlement of any
claims are recognised in profit or loss when such settlement occurs Past service cost is recognised as expense at the earlier
of the plan amendment or curtailment and when the company recognises related restructuring costs or termination benefits

10 Prior Period Errors

Prior Period Errors if identified, are corrected retrospectively in the first sot of financial statements approved for issue after the
discovery of error by -

a) Restating the comparative amounts of the poor period presented in which the error occurred

b) It the error occurred before the earliest prior period presented, the opening balance of assets, liability and equity is restated tor
the earliest prior period presented

11 Financial Instruments

Financial assets and''or financial liabilities are recognised when the company becomes party to a contract embodying the related
financial Instruments All financial assets financial liabilities and financial guarantee contracts are initially measured at transaction
values and where such values are different from the fair value, at fair value Transaction costs that are attributable to the acquisition or
issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or toss) are
added to or deducted from as the case may be the fan value of such assets or liabilities on initial recognition Transaction costs
directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or toss are recognised
Immediately in profit or loss

The financial assets and financial liabilities are offset and presented on net basis in the Balance Sheet when there is a current legal
enforceable right to set-off the recognised amounts anil it is intended to either settle on net basis or to realise the asset and settle the
liability simultaneously

11 1 Financial Assets

All recognised financial assets are subsequently measured in then entirety at amortised cost or at fair value depending on the
classification of the financial assets as follows''

8) initial Recognition

Investments in debt instruments - at amortised cost subject to following conditions

i The asset is held within a business model whose objective is to hold assets in order to collect contractual cash flows,
and

ii The contractual terms of instrument give rise on specified dates to cash flows that are solely payments of principal and
interest on the principal amount outstanding

The management has exercised its option to measure fair value changes in Equity Instruments through Other Comprehensive
Income as such Investments have not been held by the company for the purpose of trade

b) Recognition of Income on Financial Assets

For financial assets that are measured at Fair Value Through Other Comprehensive Income (herein after referred to as
FVTOCI) income by way of interest dividend and exchange difference (on debt instrument) is recognised in the statement of
profit or loss for the period and changes in fair value (other than on account of such income) are recognised in Other
Comprehensive Income and accumulated in other equity

c) De-recognition

A Financial Asset is primarily De-recognized when:
i The right to receive cash flows from the asset has expired, or

II The company has transferred Its rights to receive cash flows from the asset or has assumed ao obligation to pay the
received cash flows In full without material delay to a third party under a pass-through arrangement, and (a) the company
has transferred substantially all the risks and rewards of the asset, or b) the company has neither transferred nor
retained substantially all the risks and rewards of the asset, but has transferred control of the asset

III On derecognition ot a financial asset in its entirety the difference between the carrying amount measured at the date of
derecognition and the consideration received is recognised in profit or loss

o) impairment of Financial Assets

The Company recognises impairment loss on trade receivables using expected credit loss model, where the provisions ere
based on a forward looking ECL which includes possible default events on the trade receivables over the entire holding
period of the trade receivable. These provisions represent the difference between the trade receivable''s carrying amount In
the consolidated balance sheet and the estimated collectible amount

11 2. Financial L abilities

a) Initial Recognition

Financial liabilities including derivatives and embedded derivatives. which are designated for measurement at Fair Value
Through Profit & Loss (FVTPL) are subsequently measured at fair value All other financial liabilities including loans and
borrowings are measured at amortised cost using Effective Interest Rate (EIR) method. Financial liabilities, including
derivatives and embedded derivatives which are designated tor measurement at Fair value Through Profit & Loss (FVTPL)
are subsequently measured at fair value

A financial liability is derecognised when the related obligation expires or is discharged or cancelled

b) Subsequent Measurement

Financial Liabilities are earned at snorted cost using the Effective Interest Rate (EIR) Method. For trade and cither payables
maiming within one year from the legating date the carrying amounts, approximate fair value due to the short maturity of
these instruments

12 Foreign Currencies

a) The functional currency and presentation currency of the company is Indian Rupee (INR).

b) Transactions in currencies other than the company’s functional currency occurred during the year are translated into Rupees at
the exchange rate prevailing on the date of respective transactions

c) At each Balance Sheet date, foreign currency monetary items are reported using the dosing rate. Exchange differences that
arise on settlement of monetary items or on reporting of monetary items at each Balance Sheet date at the closing spot rate are
recognised in profit or loss in the period in which they arise

However, there were no foreign currency transactions during the year

13 Recoverability of trade Receivables

Judgments are required in assessing the recoverability of overdue trade receivables and determining whether a provision against
those receivables Is required Fedors considered include the credit rating of the counterparty, the amount and liming of anticipated
future payments and any possible actions that can be taken to mitigate the risk of non-payment.

14 Revenue Recognition

Revenue is recognised upon transfer of control of promised products or services to the customers in an amount that reflects the
consideration the company expects to be entitled to. in exchange for those products or services

Revenue from contract with customers is recognised when the Company satisfies perfoicnance obligation by transferring promised
goods and services to the customer. The revenue is measured based on transaction price, which is the fair value of consideration
received or receivable, and is net of discounts, allowances, returns goods and services tax

Revenue from fixed price, fixed time frame contacts, where the performance obligations are satisfied over time and where there is no
uncertainty as to measurement or collectability of consideration, is recognised as per the percentage of completion method When
there is uncertainty as to the measurement of ultimate collectability, revenue recognition is postponed until such uncertainty is
resolved Maintenance revenue is recognized over the term of underlying maintenance agreement whereas revenue from Installation
services are recognised immediately as there is no uncertainty as to collectibility of the consideration

Interest income is recognised using the effective interest rate (EIR) method.

15 Leases

As per Ind AS 116 the standard sets out the principles for the recognition measurement, presentation and disclosure of lessee and
the Iessor Ind AS 116 introduces single lessee accounting model and requires lessee to recognize assets and liabilities for all leases
with a term of more than 12 months, unless the underlying asset is of low value Operating lease expeases are charged to the
statement of Profit &. Loss The standard also contains enhanced disclosure requirements for lessees

Ind AS 116 requires lessees to determine tire lease term as the non-cancellable period of a lease adjusted with any option to extend or
terminate the lease, it the use of such option is reasonably certain The Company makes an assessment on the expected lease term
on a lease-by-lease basis and thereby assesses whether it is reasonably certain that any options to extend or terminate the contract
will be exercised In evaluating the lease term the Company considers factors such as any significant leasehold improvements
undertaken over the lease term costs relating to the termination of the lease and the importance of the underlying asset to company’s
operations taking into account the location of the underlying asset and the availability of suitable alternatives The lease term in future
periods is reassessed to ensure that the lease term reflects the current economic circumstances

Under Ind AS 116, the tease liability is remeasured upon the occurrence of certain events, such as a change in lease term or a change
in future lease payments resulting from a change in an index at rate (fa example inflation linked payments or market rale rent
reviews) A corresponding adjustment is made to the right of use asset

Lease payments associated with following leases are recognised as expense on straight line basis

a) Low value leases and

b) Leases which are short-term

Assets given on lease are classified either as operating lease or as finance lease A lease is classified as a finance lease if it transfers
substantially all the risks and rewards incidental to ownership of an underlying asset. Initially asset held under finance lease is
recognised in balance sheet and presented as a receivable at an amount equal to the net investment in the lease Finance income is
recognised over the lease term based on a pattern reflecting a constant periodic rate of return on Company''s net investment in the
lease A lease which is not classified as a finance lease is an operating lease

The Company recognises lease payments in case of assets given on operating leases as Income on a straight-line basis. The
Company presents underlying assets subject to operating lease in its balance sheet under the respective class of asset

16 Taxes On Income

The tax expense for the period comprises of current tax and deferred income tax Tax is recognised in Statement of Profit and Loss,
except to the extent that it rotates to items recognised in the Other Comprehensive Income or in equity In which case, the tax is also
recognised in Other Comprehensive Income or Equity.

16.1 Current Tax

Tax on income for the current period is determined on the basis of taxable income and tax credits computed in accordance with
the provisions of the Income tax Act 1961

162 Deferred Tax

Deferred tax is recognised on temporary differences between me carrying amounts of assets and liabilities in the company s
financial statements and the corresponding tax bases used in computation of taxable profit and quantified using the tax rates
and laws enacted or substantively enacted as on the reporting date

Deferred tax assets are generally recognised lor all taxable temporary differences to the extent that is probable that, taxable
profits will be available against which those deductible temporary differences can be utilised The carrying amount of deferred
tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient
taxable profits will be available to allow all or part of the asset to be recovered.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which
the company expects, at the end at reporting period to recover or settle the carrying amount of its assets and Labilities

Transaction or event which is recognised outside profit or loss, either in other comprehensive income or in equity, is recorded
along with the lax as applicable

17 Operating Segments

Operating segments are those components of the business whose operating results are regularly reviewed by the duet operating
decision making body in the company to make decisions for performance assessment and resource allocation

Considering the nature and scope of business of the Company, the Chief Operating Decision Maker could not identify any operating
segments

18 Borrowing Costs

Borrowing costs, general or specific, that are directly attributable to the acquisition or construction of qualifying assets is capitalized as
part of such assets A qualifying asset is one that necessarily takes substantial period of time to get ready for intended use All other
borrowing costs are charged to the Statement of Profit and Loss

The Company determines the amount of borrowing costs eligible for capitalisation as the actual borrowing costs incurred on that
borrowing during the year less any interest income earned on temporary investment of specific borrowings pending their expenditure
on qualifying assets, to the extent that an entity borrows funds specifically for the purpose of obtaining a qualifying asset In case if the
Company borrows generally and uses the funds for obtaining a qualifying asset, borrowing costs eligible tor capitalisation are
determined by applying a capitalisation rate to the expenditures on that asset

Other borrowing costs are expensed in the period in which they are incurred.

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Mar 31, 2024

1 Overview of the Company

Panabyte Technologies Limited (''the Company'') was incorporated on 16th June, 1981 under the Companies Act, 1956. The
company''s identification No. is L51100MH1981PLC312742. The Company is primarily engaged in trading of Consumer
Electronic & Electrical Goods and IT Hardware & its peripherals and Installation as well as Maintenance of Surveillance and
Biometric systems.

2 Basis of Preparation

Financial Statements have been prepared in accordance with the accounting principles generally accepted in India including
Indian Accounting Standards (Ind AS) prescribed under the Section 133 of the Companies Act, 2013 read with rule 3 of the
Companies (Indian Accounting Standards) Rules, 2015 as amended and relevant provisions of the Companies Act, 2013.

Accordingly, the Company has prepared these Financial Statements which comprise the Balance Sheet as at 31 March, 2024,
the Statement of Profit and Loss for the year ended 31 March 2024, the Statement of Cash Flows for the year ended 31 March
2024 and the Statement of Changes in Equity for the year ended as on that date, and accounting policies and other explanatory
information (together hereinafter referred to as ‘ Financial Statements'' or ‘financial statements'').

These financial statements are approved for issue by the Board of Directors on 21st May,2024

3 Compliance with Ind AS

The separate financial statements of the company are prepared in accordance with Indian Accounting Standards (Ind AS),
under the historical cost convention on the accrual basis as per the provisions of the Companies Act, 2013 (“the Act”), except
for financial instruments - measured at fair value or amortised cost.

4 System of Accounting :

2.1 The Company follows Mercantile System of Accounting and recognizes Income & Expenditure on an accrual basis.

2.2 Accounts of the Company are prepared under the Historical Cost convention method, except for certain financial
instruments that are measured at fair value in accordance with Ind AS.

2.3 Fair Value measurements under Ind AS are categorized as below, based on the degree to which inputs to the fair value
measurements are observable and the significance of the inputs to their fair value measurement in its entirety.

a) Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the company can
access at measurement date.

b) Level 2 inputs, other than quoted prices included in level 1 ,that are observable for the asset or liability, either directly or
indirectly; and

c) Level 3 inputs are unobservable inputs for the valuation of assets/liabilities.

5 Going Concern

Fundamental Accounting assumption of going concern is followed in preparation of the financial statement.

6 Presentation of Financial Statements

The Balance Sheet and the Statement of Profit and Loss are prepared and presented in the format prescribed in the Schedule
III to the Companies Act, 2013 (“the Act”). The statement of cash flows has been prepared and presented as per the
requirements of Ind AS 7 “Statement of Cash flows”. The disclosure requirements with respect to items in the Balance Sheet
and Statement of Profit and Loss, as prescribed in the Schedule III to the Act, are presented by way of notes forming part of the
financial statements along with the other notes required to be disclosed under the notified Indian Accounting Standards and the
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

All amounts in the Financial Statements are presented in Indian Rupees (INR).

7 Valuation of Property, Plant & Equipments & Intangible Assets & Depreciation/Amortisation policy

7.1 Method Of Valuation Of Property, Plant & Equipments.

Property, Plant & Equipments (hereinafter referred to as PPE) is recognised when it is probable that future economic
benefits associated with the item will flow to the company and the cost of such PPE can be measured reliably.PPE is
stated at original cost net of tax/duty credits availed, if any, as reduced by accumulated depreciation and cumulative
impairment.

Expenditure for additions, improvements and renewals are capitalized and expenditure for maintenance & repairs are
charged to the profit & loss account.

Depreciation

Depreciation on PPE is recognised using Straight Line Method so as to write off the cost of PPE less the residual value
over its useful lives specified in Schedule- II of the Companies Act,2013.In case of PPE purchased/sold during the year,
Depreciation has been provided on pro-rata basis

7.2 Method of Valuation of Intangible Assets

Intangible assets are recognised when it is probable that the future economic benefits that are attributable to the assets
will flow to the company and the cost of the asset can be measured reliably. Intangible assets are stated at original cost
net of tax/duty credits availed, if any, as reduced by accumulated amortisation and cumulative impairment.

Amortisation

Amortisation charge on Intangible asset has been allocated on a systematic basis over the best estimate of useful life.

8 Use of Estimates

The preparation of Financial Statements in conformity with Indian Accounting Standards requires management to make
judgments, estimates and assumptions that affect the reported amounts of revenue, expenses, assets and liabilities and
disclosure of contingent liabilities as at the date of financial statements and the results of operations during the reporting period.
As such estimates are based on the management’s best knowledge of the current events and actions; there are possibilities of
such estimates resulting in outcome’s requiring material adjustment to the carrying amounts of assets or liabilities in future
periods.

9 Employee Benefits

9.1 Short Term Employee Benefits

Employee Benefits such as Salaries, Wages, shortterm compensated absences, and expected cost of bonus, ex-gratia,
and performance linked rewards falling due, wholly within twelve months of rendering the service are classified as short
term employee benefits and are expensed in the period in which the employee renders the related service.

9.2 Post-Employment Benefits

a) Defined Contribution Plans

The company’s contributions to state governed provident fund scheme and employee state insurance scheme are the
defined contribution plans maintained by the company. The contribution paid/payable under the scheme is recognized
during the period in which the employee renders the related service.

b) Defined Benefit Plans

The company has an obligation towards gratuity, a defined retirement plan covering eligible employees. The plan
provides for a lump sum payment to vested employees at retirement, death while in employment or on termination of
employment of an amount based on the respective employee’s salary and the tenure of employment. The present
value of obligation under defined benefit plans is determined based on actuarial valuation using the Projected Unit
Credit Method.

The obligation is measured at the present value of the estimated future cash flows using a discount rate based on the
market yield on government bonds, with a maturity period, equivalent to the weighted average maturity profile of the
defined benefit obligations at the Reporting date.

Remeasurement, comprising actuarial gains and losses is recognised in other comprehensive income and is
reflected in retained earnings and the same is not eligible to be reclassified to profit or loss.

Defined benefit employee costs comprising current service cost, past service cost and gains or losses on settlements
are recognised in the Statement of Profit and Loss as employee benefits expense. Excess gains or losses on
settlement of any claims are recognised in profit or loss when such settlement occurs. Past service cost is
recognised as expense at the earlier of the plan amendment or curtailment and when the company recognises related
restructuring costs or termination benefits.

10 Prior Period Errors

Prior Period Errors if identified, are corrected retrospectively in the first set of financial statements approved for issue after the
discovery of error by :-

a) Restating the comparative amounts of the prior period presented, in which the error occurred;

b) If the error occurred before the earliest prior period presented, the opening balance of assets, liability and equity is
restated for the earliest prior period presented.

11 Financial Instruments

Financial assets and/or financial liabilities are recognised when the company becomes party to a contract embodying the
related financial instruments. All financial assets, financial liabilities and financial guarantee contracts are initially measured at
transaction values and where such values are different from the fair value, at fair value. Transaction costs that are attributable
to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair
value through profit or loss) are added to or deducted from as the case may be, the fair value of such assets or liabilities, on
initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value
through profit or loss are recognised immediately in profit or loss.

The financial assets and financial liabilities are offset and presented on net basis in the Balance Sheet when there is a current
legal enforceable right to set-off the recognised amounts and it is intended to either settle on net basis or to realise the asset
and settle the liability simultaneously.

11.1 Financial Assets

All recognised financial assets are subsequently measured in their entirety at amortised cost or at fair value depending on
the classification of the financial assets as follows:

a) Recognition

Investments in debt instruments — at amortised cost, subject to following conditions:

i. The asset is held within a business model whose objective is to hold assets in order to collect contractual cash
flows; and

ii. The contractual terms of instrument give rise on specified dates to cash flows that are solely payments of principal
and interest on the principal amount outstanding.

The management has exercised its option to measure fair value changes in Equity Instruments through Other
Comprehensive Income, as such Investments have not been held by the company for the purpose of trade.

b) Recognition of Income on Financial Assets

For financial assets that are measured at Fair Value Through Other Comprehensive Income (herein after referred to
as FVTOCI), income by way of interest, dividend and exchange difference (on debt instrument) is recognised in the
statement of profit or loss for the period and changes in fair value (other than on account of such income) are
recognised in Other Comprehensive Income and accumulated in other equity.

c) De-recognition

A Financial Asset is primarily De-recognized when:-

i. The right to receive cash flows from the asset has expired, or

ii. The company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay
the received cash flows in full without material delay to a third party under a pass-through arrangement; and (a) the
company has transferred substantially all the risks and rewards of the asset, or b) the company has neither
transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the
asset.

iii. On derecognition of a financial asset in its entirety, the difference between the carrying amount measured at the
date of derecognition and the consideration received is recognised in profit or loss.

d) Impairment of Financial Assets

The Company recognises impairment loss on trade receivables using expected credit loss model, where the
provisions are based on a forward-looking ECL, which includes possible default events on the trade receivables over
the entire holding period of the trade receivable. These provisions represent the difference between the trade
receivable’s carrying amount in the consolidated balance sheet and the estimated collectible amount.

11.2 Financial Liabilities

a) Initial Recognition

Financial liabilities, including derivatives and embedded derivatives, which are designated for measurement at Fair
Value Through Profit & Loss (FVTPL) are subsequently measured at fair value. All other financial liabilities including
loans and borrowings are measured at amortised cost using Effective Interest Rate (EIR) method. Financial liabilities,
including derivatives and embedded derivatives, which are designated for measurement at Fair Value Through Profit &
Loss (FVTPL) are subsequently measured at fair value. All other financial liabilities including loans and borrowings are
measured at amortised cost using Effective Interest Rate (EIR) method.

A financial liability is derecognised when the related obligation expires or is discharged or cancelled.

b) Subsequent Measurement

Financial Liabilities are carried at amortized cost using the Effective Interest Rate (EIR) Method. For trade and other
payables maturing within one year from the reporting date, the carrying amounts, approximate fair value due to the
short maturity of these instruments.

12 Foreign Currencies

a) The functional currency and presentation currency of the company is Indian Rupee (INR).

b) Transactions in currencies other than the company''s functional currency occurred during the year are translated into
Rupees at the exchange rate prevailing on the date of respective transactions.

c) At each Balance Sheet date, foreign currency monetary items are reported using the closing rate. Exchange differences
that arise on settlement of monetary items or on reporting of monetary items at each Balance Sheet date at the closing
spot rate are recognised in profit or loss in the period in which they arise .

However, there were no foreign currency transactions during the year.

13 Recoverability of Trade Receivables

Judgments are required in assessing the recoverability of overdue trade receivables and determining whether a provision
against those receivables is required. Factors considered include the credit rating of the counterparty, the amount and timing of
anticipated future payments and any possible actions that can be taken to mitigate the risk of non-payment.

14 Revenue Recognition

Revenue from contract with customers is recognised when the Company satisfies performance obligation by transferring
promised goods and services to the customer. The revenue is measured based on transaction price, which is the fair value of
consideration received or receivable, and is net of discounts, allowances, returns, goods and services tax/value added
taxes/sales tax.

Interest income is recognised using the effective interest method.

15 Leases

As per Ind AS 116, the standard sets out the principles for the recognition, measurement, presentation and disclosure of lessee
and the lessor. Ind AS 116 introduces single lessee accounting model and requires lessee to recognize assets and liabilities for
all leases with a term of more than 12 months, unless the underlying asset is of low value.Operating lease expenses are
charged to the statement of Profit & Loss. The standard also contains enhanced disclosure requirements for lessees.

Ind AS 116 requires lessees to determine the lease term as the non-cancellable period of a lease adjusted with any option to
extend or terminate the lease, if the use of such option is reasonably certain. The Company makes an assessment on the
expected lease term on a lease-by-lease basis and thereby assesses whether it is reasonably certain that any options to
extend or terminate the contract will be exercised. In evaluating the lease term, the Company considers factors such as any
significant leasehold improvements undertaken over the lease term, costs relating to the termination of the lease and the
importance of the underlying asset to company''s operations taking into account the location of the underlying asset and the
availability of suitable alternatives. The lease term in future periods is reassessed to ensure that the lease term reflects the
current economic circumstances.

Under Ind AS 116, the lease liability is remeasured upon the occurrence of certain events, such as a change in lease term or a
change in future lease payments resulting from a change in an index or rate (for example, inflation-linked payments or market
rate rent reviews). A corresponding adjustment is made to the right of use asset.

Lease payments associated with following leases are recognised as expense on straight-line basis:

a) Low value leases; and

b) Leases which are short-term.

Assets given on lease are classified either as operating lease or as finance lease. A lease is classified as a finance lease if it
transfers substantially all the risks and rewards incidental to ownership of an underlying asset. Initially asset held under finance
lease is recognised in balance sheet and presented as a receivable at an amount equal to the net investment in the lease.
Finance income is recognised over the lease term, based on a pattern reflecting a constant periodic rate of return on
Company''s net investment in the lease. A lease which is not classified as a finance lease is an operating lease.

The Company recognises lease payments in case of assets given on operating leases as income on a straight-line basis. The
Company presents underlying assets subject to operating lease in its balance sheet under the respective class of asset.

16 Taxes On Income

The tax expense for the period comprises of current tax and deferred income tax. Tax is recognised in Statement of Profit and
Loss, except to the extent that it relates to items recognised in the Other Comprehensive Income or in equity. In which case,
the tax is also recognised in Other Comprehensive Income or Equity.

16.1 Current Tax

Tax on income for the current period is determined on the basis of taxable income and tax credits computed in
accordance with the provisions of the Income tax Act 1961.

16.2 Deferred Tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the
company''s financial statements and the corresponding tax bases used in computation of taxable profit and quantified
using the tax rates and laws enacted or substantively enacted as on the reporting date.

Deferred tax assets are generally recognised for all taxable temporary differences to the extent that is probable that,
taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount
of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer
probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner
in which the company expects, at the end of reporting period, to recover or settle the carrying amount of its assets and
liabilities.

Transaction or event which is recognised outside profit or loss, either in other comprehensive income or in equity, is
recorded along with the tax as applicable.

17 Operating Segments

Operating segments are those components of the business whose operating results are regularly reviewed by the chief
operating decision making body in the company to make decisions for performance assessment and resource allocation.

Considering the nature and scope of business of the Company, the Chief Operating Decision Maker could not identify any
operating segments

18 Borrowing Costs

Borrowing costs, general or specific, that are directly attributable to the acquisition or construction of qualifying assets is
capitalized as part of such assets. A qualifying asset is one that necessarily takes substantial period of time to get ready for
intended use. All other borrowing costs are charged to the Statement of Profit and Loss.

The Company determines the amount of borrowing costs eligible for capitalisation as the actual borrowing costs incurred on
that borrowing during the year less any interest income earned on temporary investment of specific borrowings pending their
expenditure on qualifying assets, to the extent that an entity borrows funds specifically for the purpose of obtaining a qualifying
asset. In case if the Company borrows generally and uses the funds for obtaining a qualifying asset, borrowing costs eligible for
capitalisation are determined by applying a capitalisation rate to the expenditures on that asset.

Other borrowing costs are expensed in the period in which they are incurred.

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Mar 31, 2014

The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) in compliance with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on accrual basis under the historical cost convention. Further, in view of the revised schedule VI of the Companies Act, the company has also reclassified the previous year figures in accordance with the requirements applicable for the current year.

General

The company follows the accrual method of accounting. The financial statements have been prepared in accordance with the historical cost convention and in accordance with. Expenses are accounted on their accrual with necessary provision for all known liabilities and losses.

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. Difference between the actual results and estimates are recognized in the period in which the results are known/ materialized.

Fixed Assets

Fixed assets are stated at cost including taxes, duties, freight, insurance etc. related to acquisition and installation.

Depreciation

Depreciation is provided on Written down Value basis as per rates of the Income Tax Act, 1961. For additions/ deletions during the year, depreciation is provided on the pro-rata basis based on the number of days the assets is used during the year.

Inventories

Inventories were valued at lower of Cost or NRV.

Revenue Recognition

Revenue is recognized only when it can be reliably measured and it is reasonable to expect ultimate collection. Dividend income is recognized when right to receive is established. Interest income is recognized on time proportion basis taking into account the amount outstanding and rate applicable.

Provisions, Contingent Assets and Contingent Liabilities

Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are disclosed when the company has possible obligation or a present obligation and it is probable that a cash flow will not be required to settle the obligation. Contingent Assets are neither recognised nor disclosed in the financial statements.

Investments

Investments that are readily realizable and intended to be held for not more than one year, are classified as current investments. All other investments are classified as long-term investments.

Current Investments are stated at lower of cost or market rate on individual investment basis. Long Term Investments are considered "at cost", unless there is other than temporary decline in value thereof, in which case, adequate provision is made against such diminution in the value of investments.

Provision for Current and Deferred Tax

Provision for current tax is made after taking into consideration benefits admissible under the provisions of the Income-tax Act, 1961. Deferred tax resulting from "timing difference" between taxable and accounting income is accounted for using the tax rates and laws that are enacted or substantively enacted as on the balance sheet date. Deferred tax asset is recognised and carried forward only to the extent that there is a virtual certainty that the asset will be realized in future.

Employee Benefits

Short-term employee benefits are recognized as an expense at the undiscounted amount in the profit and loss account of the year in which the related service is rendered.

i. Gratuity:

The liability for gratuity has not been provided as per the provisions of Payment of Gratuity Act, 1972 since no employee of the company is eligible for such benefits during the year.

ii. Provident Fund:

The provisions of the Employees Provident Fund are not applicable to the company since the number of employees employed during the year were less than the minimum prescribed for the benefits.

iii. Leave Salary:

In respect of Leave Salary, the same is accounted as and when the liability arises in accordance with the provision of law governing the establishment.

Impairment of Assets

As at Balance Sheet Date, the carrying amount of assets is tested for impairment so as to determine:

a. Provision for Impairment Loss, if any, required or

b. The reversal, if any, required of impairment loss recognized in previous periods.

Impairment Loss is recognized when the carrying amount of an asset exceeds its recoverable amount. Borrowing Cost

Borrowing cost attributable to the acquisition or construction of qualifying assets are capitalized as a part of such assets. All other borrowing costs are charged off to revenue.

A qualifying asset is an asset that necessarily requires a substantial period of time to get ready for its intended use or sale.

Rights, preference and restrictions attached to Equity Shares

The Company has one class of Equity shares having a par value of Rs.10/- each. Each shareholder is eligible to one vote per share held.

In the Event of Liquidation of the Company, the holders of the equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

Details of Share held by shareholders holding more than 5% of the aggregate shares in the company

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Mar 31, 2013

Basis of Preparation of Financial Statements

The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) in compliance with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on accrual basis under the historical cost convention. Further, in view of the revised schedule VI of the Companies Act, the company has also reclassified the previous year figures in accordance with the requirements applicable for the current year.

General

The company follows the accrual method of accounting. The financial statements have been prepared in accordance with the historical cost convention and in accordance with. Expenses are accounted on their accrual with necessary provision for all known liabilities and losses.

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. Difference between the actual results and estimates are recognized in the period in which the results are known/ materialized,

Fixed Assets

Fixed assets are stared at cost including taxes, duties, freight, insurance etc. related to acquisition and installation.

Depreciation

Depreciation is provided on Written Down Value basis as per Schedule XIV of the Companies Act 1956. For additions/ deletions during the year, depreciation is provided on the pro-rata basis based on the number of days the assets is used during the year.

Inventories

Inventories were valued at lower of Cost or NRV.

Revenue Recognition

Revenue is recognized only when it can be reliably measured and it is reasonable to expect ultimate collection. Dividend income is recognized when right to receive is established. Interest income is recognized on time proportion basis taking into account the amount outstanding and rate applicable.

Provisions, Contingent Assets and Contingent Liabilities

Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources.

Contingent Liabilities are disclosed when the company has possible obligation or a present obligation and it is probable that a cash flow will not be required to settle the obligation. Contingent Assets are neither recognised nor disclosed in the financial statements.

investments

Investments that are readily realizable and intended to be held for not more than one year, are classified as current investments. All other investments are classified as long-term investments.

Current Investments are stated at lower of cost or market rate on individual investment basis. Long Term Investments are considered "at cost", unless there is other than temporary decline in value thereof, in which case, adequate provision is made against such diminution in the value of investments.

Provision for Current and Deferred tax

Provision for current tax is made after taking into consideration benefits admissible under the provisions of the Income-tax Act, 1961. Deferred tax resulting from 'timing difference" between taxable and accounting income is accounted for using the tax rates and laws that are enacted or substantively enacted as on the balance sheet date. Deferred tax asset is recognised and carried forward only to the extent that there is a virtual certainty that the asset will be realized in future.

Employee Benefits

Short-term employee benefits are recognized as an expense at the undiscounted amount in the profit and loss account of the year in which the related service is rendered.

i. Gratuity:

The liability for gratuity has not been provided as per the provisions of Payment of Gratuity Act, 1972 since no employee of the company is eligible for such benefits during the year,

ii. Provident Fund:

The provisions of the Employees Provident Fund are not applicable to the company since the number of employees employed during the year were less than the minimum prescribed for the benefits.

iii. Leave Salary:

in respect of Leave Salary, the same is accounted as and when the liability arises in accordance with the provision of law governing the establishment.

Impairment of Assets

As at Balance Sheet Date, the carrying amount of assets is tested for impairment so as to determine:

a. Provision for Impairment Loss, if any, required or

b. The reversal, if any, required of impairment loss recognized in previous periods.

Impairment Loss is recognized when the carrying amount of an asset exceeds its recoverable amount.

Borrowing Cost

Borrowing cost attributable to the acquisition or construction of qualifying assets are capitalized as a part of such assets. All other borrowing costs are charged off to revenue.

A qualifying asset is an asset Chat necessarily requires a substantial period of time to get intended use or sale,

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Mar 31, 2012

Basis of Preparation of Finuncial Statements

The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) in compliance with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act,. 1956. The financial statements have been prepared on accrual basis under the historical cost convention. Further, in view of the revised schedule VI of the Companies Act, the company has also reclassified the previous year figures in accordance with the requirements applicable for the current year.

General

The company follows the accrual method of accounting, The financial statements have been prepared sn accordance with the historical cost convention and in accordance with. Expenses are accounted on Their accrual with necessary provision for all known liabilities and losses.

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. Difference between the actual results and estimates are recognized in the period in which the results are known/ materialized.

Fixed Assets

Fixed assets are stated at cost including taxes, duties, freight, insurance etc. related to acquisition and installation.

Depreciation

Depreciation is provided on Written Down Value basis as per Schedule of the Companies Act 1956. For additions/ deletions during the year, depreciation is provided on the pro-rata basis based on the number of days the assets is used during the year.

Inventories

inventories were valued at lower of Cost or NRV.

Revenue Recognition

Revenue is recognized only when it can be reliably measured and it is reasonable to expect ultimate collection. Dividend income is recognized when right to receive is established. Interest income is recognized on time proportion basis taking into account the amount outstanding and rate appliesbls.

Provisions, Contingent Assets and Contingent Liabilities

Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources.

Contingent Liabilities are disclosed when the company has possible obligation or a present obligation and it is probable that a cash flow will not be required to settle The obligation. Contingent Assets are neither recognised nor disclosed in the financial statements,

Investments

Investments that are readily realizable and intended to be held for not more than one year, are classified as current investments. All other investments are classified as long-term investments.

Current Investments are stated at lower of cost or market rate on individual investment basis. Long Term Investments are considered at cost11, unless there is other than temporary decline in value thereof, in which case, adequate provision is made against such diminution in the value of investments.

Pro vision for Current and Deferred Tax

Provision for current tax is made after taking into consideration benefits admissible under the provisions of the Income-tax Act, 1961. Deferred tax resulting from "timing difference" between taxable and accounting income is accounted for using the tax rates and laws that are enacted or substantively enacted as on the balance sheet date. Deferred tax asset is recognised and carried forward only to the extent that there is a virtual certainty that the asset will be realized in future.

Employee Benefits

Short-term employee benefits are recognized as an expense at the undiscounted amount in the profit and loss account of the year in which the related service is rendered.

i. Gratuity:

The liability for gratuity has not been provided as per the provisions of Payment of Gratuity Act, 1972 since no employee of the company is eligible for such benefits during the year,

ii. Provident Fund:

The provisions of the Employees Provident Fund are not applicable to the company since the number of employees employed during the year were less than the minimum prescribed for the benefits.

iii. Leave Salary:

In respect of Leave Salary, the same is accounted as and when the liability arises in accordance with the provision of law governing the establishment.

Impairment of Assets

As at Balance Sheet Date, the carrying amount of assets is tested for impairment so as to determine:

a. Provision for Impairment Loss, if any, required or

b. The reversal, if any, required of impairment loss recognized in previous periods. Impairment Loss is recognized when the carrying amount of an asset exceeds its recoverable amount. Borrowing Cost Borrowing cost attributable to the acquisition or construction ot qualifying assets are capitalized as a part of such assets. All other borrowing costs are charged off to revenue.

A qualifying asset is an asset that necessarily requires a substantial period of time to get ready for its intended use or sale.

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Mar 31, 2011

1. Basis of Preparation of Financial Statements:

The accounts of the Company are prepared as a going concern in accordance with the applicable Accounting Standards except where otherwise stated.

2. Use of Estimates:

The prepareation of the financial statements are in conformity with the Generally Accepted Accounting Principles requires that the management makes estimates and assumptions that effect the reported amounts of Assets and Liabilities disclosure of contingent Liabilities as at the date of the financial statements and the reported amount of revenue and expenses during the audited period. Actual results could differ from those estimates.

3. Revenue Recognition:

Income and Expenses are recognized on accrual basis unless otherwise stated,.

B. Description lion of Business

1. General

Ruby Traders & Exporters Ltd carry on the

2. Activities:

a) Defered Tax Liability arose in lieu of the depreciation as per the timing difference Accounting Standard 22(Accounting for Taxation)

b) The account has been duty verifies with the respective bank statement

c) Comence has been certified by the management.