Accounting Policies of QGO Finance Ltd. Company

Mar 31, 2024

Significant Accounting Policies Company Information

QGO Finance Ltd (Formerly Known as Pamami Credos Lrnted) (’the Company '') is a public limited company in India and Incorporated under the p''OVTBion of the Companies Act, 1956. The registered office of the Company « located at 3rd Floor, A-514.

TTC Industrial Area, M*OC. Mahape Navi Mumba 400 701.

The Company «sated on the Bombay Stock Exchange (BSE) The

Fnanctaf Statement are approved lor issue by the Company s board of directors on 13.06.2024.

Basis of preparation of financial statements

The Financial Statement of the Company have been prepared in accordance with Inden Acoountng Standards find AS'') provision of the Comparres Act 2013 (''the AcT), as appicabie and gudeanes «*ued by the Securities and Exchange Board ct India (‘StSD The Ind AS are presorted under Sec too t33 of the Act read with Rule 3 of the Companies ndjn Accounting Standards; Rules, 2015 and Companies (Indian Accounting Standards] Amendment Rules. 2016 Accounting policies have been applied consistently to all periods presented n these financial statements.

Use of Estimates

the Financial Statement ol the Company have been prepared in accordance with Indian Acoountng Standards find AS* I provision of the Compares* Act. 2013 (''the AcT), as appicabto and guidelines issued by the Securities and Exchange Board of India (''SEBH The Ind AS are presorted under Section 133 of the Act read with Rule 3 of the Companies (inchan Accounting Standards) Rules. 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016. Accounting policies have been applied consistently to all periods presented n these (iranciil statements.

Interest on Borrowings

After Incal recognition, interest-bearing oane and borrowings are subsequently measured ait amortised cost using ihe Effective Interest rate (EIR) method Gans and losses are recognised In ihe Statement of Profa and Loss when the labilities an* derecognsed as well as through the ElR amortisation process Amortised cost is calculated by taking nto account ary discount or premium on acquisiton and fees or costs that are ar. integral part of the EIR The EiR amortisjticn is ncluded as finance costs in the Statement of Profit and Loss

Borrowing Cost

All other borrowing costs are recognized ri Statement of ProFt and Loss in the period in which foey are incurred

i Fair Value Measurement

At each reporting dale the Management analysts the movements In the values of assets and Isabfities when are required to be remeasured or re-assessed as per the Company''s accounting policies For this analysis, the Management verifies the major nputs applied in the a lest valuaton by agreeing the nformabon in the valuation computation to contracts and other relevant documents

The Management also oempares the change in Ihe fai* value of each asset and liabifty with relevant external sources to determine whether the change is reasonable

For the purpose of fair value Osctosures, the Company has determned casses of assets and labilities on the basis of the naitLre, charactertelics and nsxs ol the asset or i«t>llty and me level of me fair vaue hierarchy as enplaned above

l Revenue Recognition

Interest income is accounted for el Fnanciai nstiuments measured at amortised cost, nteres*. income is recorded using the effective mere si rale (EIR| when e the raile that exactly discounts the estimated fuliwe cash payments or recasts through ihe expected life of

ihe financial nstrumenf to Ihe groea carrying amount or Ihe financie* asset

ii Taxation

Tax expenses are the aggiegate of curie''ll lax and deferred tax chvged or credited in Ihe statement of Profit and Loes for live year a Current Tax

Current income tax assets ano kablities are measuied at the amount expected to be recovered from or cad to the taxation authorities.

The Company determines Ihe tax as per the provisions of Income Tax Ac* 1961 and ofoer rules specked thereunder b Deferred Tax

Deferred lax is provded using foe tiablity method or temporary differences between the tax bases of assets and liabhhes and ttier carrying amounts for ''financial reporting purposes at the reporting date

Deferred tax assets are recognised tor at deductible temporary dlflerences. the carry forward of unused lax credits and any unused lax ossee Deterred tax assets are recognised to the extent the* it s prefcabie than taxable profit will be avaiaNe agenst which me diaducbtaa temporary differences and the carry forward of unused tax ensdts and unused tax losses can be utilized

Property Plant and Machinery

Property plant anc equipment is stated at cost less accumiiated depreciation and where appicabie accumulated impairment losses Property plant and equipment and capita* work n progress cost nctixde expenditure foet is directly attributable lo foe acquisition of the asset The cost of self-constructed assets ncfudes the ooe* of materials, dree* labour and any ewer costa dreedy a*lroutable to bringng the asset to a working conation for its intended use. and the costs of dsmarding and removing the items and restoring the site on which they are located Purchased software that is ntogral to ihe functionally of the related equipment is capitalized as part ot that equipment

Depreciation i Amortization

The Company dapiadata* it* ftxett a**et* over (he umU We m ltIn Schedule II of me Companta* Act 2013, Depreciation Is provided using the uttlful life of the asset estimated tiy the management, detail of which are as under:

Ijwa*MfLA***ts Estimated Useful L/fe

Computers 3 Veers

Printers 6 Years

?''lice equipment s 5 Years

Software 6 Years

Motor Car 10 Years

Impairment of Non-F Inline lei Assets

'' he Company assesses, at each reporting date wtiethe*- there is an indication that an asset may bo impaired. It any mdc-sbon exists or when annual impairment tosbng tor an asset is required, the Company estimates the assets recoverable amount. An asset s recoverable amount hgl-m of an asset» o» cash-generating units (CGU) fair value loee cxiala of arm 1* vatue in uaa

Recoverable aniotail is determined for an rndrydual mwi Ur*e*» the nwl dot* net generate cash Intow* met are largely independent ot those bom other «<*l» or Company a aa*el* When lha carrying amount of an a**at or COU exceed* it* recoverable amount, via vsmi ck ccn si dared Impaired and * written down to it* recoverable amount.

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Mar 31, 2015

1. Basis of preparation of financial statements

The financial statements are prepared in accordance with applicable accounting standards and relevant provisions of the Companies Act, 2013 and are based on the historical cost conventions. Accounting policies unless specifically stated to be otherwise, are consistent and are in consonance with generally accepted accounting principles.

2 Presentation and disclosure of financial statements

Since the year ended 31 March 2015, the revised Schedule III notified under the Companies Act 2013, has become applicable to the company, for preparation and presentation of its financial statements. The adoption of revised Schedule III does not impact recognition and measurement principles followed for preparation of financial statements. However, it has significant impact on presentation and disclosures made in the financial statements.

3. Use of Estimates

The preparation of financial statements in conformity with Indian GAAP requires the management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of contingent liabilities, at the end of the reporting period. Although these estimates are based on the management's best knowledge of current events and actions, uncertainty about these assumptions and estimates could result in the outcomes requiring a material adjustment to the carrying amounts of assets or liabilities in future periods.

4. Tangible and Intangible Fixed Assets

Tangible fixed assets are stated at cost of acquisition and subsequent improvements thereto; net of CENVAT / Value Added Tax, rebates, less accumulated depreciation, and impairment loss, if any.

Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at cost less accumulated amortizations and impairment loss, if any.

5. Depreciation/Amortization

Depreciation on tangible assets is provided on straight line method basis in the manner prescribed in Schedule II to the Companies Act,2013.

Assets Estimated Useful Life

Office Equipment's 5 years

6. Inventories

Inventories are valued at cost or market price whichever is less.

7. Provision for Current and Deferred Tax

Provision for Current Income Tax is made after taking into consideration benefits admissible under the provisions of the Income Tax Act, 1961.

8. Provisions, Contingent Liabilities and Contingent Assets

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events, it is probable that there will be an outflow of resources and a reliable estimate can be made of the amount of the obligation. These are reviewed at each balance sheet date and adjusted to reflect the current best estimate. Contingent Assets are neither recognized nor disclosed in the financial statement. Contingent Liabilities are not provided for and are disclosed by way of notes.

9. Revenue Recognition

All income to the extent considered receivable, unless otherwise stated, are accounted for on accrual basis. 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.

Segment Reporting

The Company has identified that its operating segments are the primary segments. The Company prepares its segment information in conformity with the accounting policies adopted for preparing and presenting the financial statements of the Company as a whole.

1. Cash and Cash Equivalents

Cash and cash equivalents in the cash flow statement comprise of cash at bank and in hand and short -term investments with an original maturity of three months or less.

2. Measurement of EBITDA

As permitted by the Guidance Note on the Revised Schedule VI to the Companies Act, 1956, the company has elected to present earnings before interest, tax, depreciation and amortization (EBITDA) as a separate line item on the face of the statement of profit and loss. The company measures EBITDA on the basis of profit/ (loss) from continuing operations. In its measurement, the company does not include depreciation and amortization expense, finance costs and tax expense.