Accounting Policies of Signature Green Corporation Ltd. Company

Mar 31, 2025

1. GENERAL

The Financial Statements have generally been prepared on the historical cost convention. Accounting policies not specifically referred to otherwise are in consonance with generally accepted accounting principles.

2. BASIS OF ACCOUNTING

The company follows the mercantile system of accounting generally except otherwise stated herein below, if so.

3. FIXED ASSETS

Fixed assets are stated at cost of less accumulated depreciation. No Depreciation has been provided during the year under consideration.

4. INVESTMENTS Investments are stated at cost.

5. INVENTORIES

Inventory is valued at cost or net realizable value whichever is less.

6. REVENUE AND EXPENDITURE RECOGNITION

Revenue is recognized and expenditure is accounted for on their accrual except insurance claim, claims in respect of material purchased and sold which are accounted for on cash basis.

7. MISCELLANEOUS EXPENDITURE

Miscellaneous Expenditure such as preliminary expenditure are amortized over a period of 5 years.

8. DEFER TAX

The Deferred tax is recognized for all temporary differences subject to the consideration of prudence and at currently available rates. Deferred Tax assets are recognized only if there is virtual certainty that they will be realized.

9. FOREIGN CURRENY TRANSACTION

There is no such transaction during the year.

10. CONTINGENT LIABILITIES

There is no any contingent liability.

11. TRADE RECEIVABLE AND PAYABLE

Balances of trade payable and receivable are subject to confirmation, reconciliation and consequential adjustments, if any.

12. RELATED PARTY TRANSACTIONS

There were no transaction between related concern/parties.

13. EMPLOYEES BENEFIT EXPENSES
	Particulars		Current Year		Previous Year
	Salary Paid		955429		959096
	Bonus & Gratuity		75360		69480
	ESI & PPF		35905		33993
14. DETAILS OF PAYMENT TO AUDITORS
	Particulars	Current Year		Previous Year
	As Auditor	50000		20000

15. The amount due to Micro & Small Enterprises are based on the information available with the company.

16. Where the company has not used the borrowings from banks and financial institutions for the specific purpose for which it was taken at the balance sheet date, the company shall disclose the details of where they have been used :- Not Applicable

17. If, in the opinion of the Board, any of the assets other than Property, Plant and Equipment, In-tangible Assets and non-current investments do not have a value on realization in the ordinary course of business at least equal to the amount at which they are stated, the fact that the Board is of that opinion, shall be stated :- Not Applicable

18. Where the Company has revalued its Property, Plant and Equipment, the company shall disclose as to whether the revaluation is based on the valuation by a registered valuer as defined under rule 2 of the Companies (Registered Valuers and Valuation) Rules, 2017:-Not Applicable

19. No Immovable Properties are held by the company.

20. Loans & Advances to Promoters, Directors, KMP & Related parties.

21. CWIP Ageing : Not Applicable

22. CWIP Completion Schedule : Not Applicable

23. Intangible Tangible Assets under Development : Not Applicable.

24. The Company does not have any benami property, and no proceeding has been initiated against the Company for holding any benami property.

25. The Company does not have borrowings on the basis of security of Current Assets: Not Applicable.

26. The Company is not a declared wilful defaulter by any bank/ financial Institution/ other lender.

27. Relationship with Struck off Companies :- Not Applicable

28. Charges / Satisfaction yet to be registered with ROC beyond the statutory period along with details and reasons thereof: Not Applicable

31. Any Scheme of Arrangements has been approved by the Competent Authority in terms of sections 230 to 237 of the Companies Act, 2013, the company shall disclose that the effect of such Scheme of Arrangements have been accounted for in the books of account of the Company ''in accordance with the Scheme'' and ''in accordance with accounting standards'' and deviation in this regard shall be explained :- Not Applicable

32. Company has Advanced/ Loaned/ Invested to any other person or entity, incl. foreign entities with the understanding (recorded or otherwise) that the Intermediary shall Lend or invest in Ulti-mate Beneficiaries Provide Guarantee/ Security/ etc. on behalf of Ultimate Beneficiaries :- Not Applicable

33. Company has Received from any other person or entity, incl. foreign entities with the under-standing (recorded or otherwise) that the Company shall Lend or invest in Ultimate Beneficiaries Provide Guarantee/ Security/ etc. on behalf of Ultimate Beneficiaries. Not Applicable

34. Details of any transaction not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961), unless there is immunity for disclosure under any scheme:- Not Applicable

35. The company not covered under section 135 of the companies act

36. The company has not traded or invested in Crypto Currency or Virtual Currency during the financial year.

37. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification/disclosure.

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Mar 31, 2024

1. GENERAL

The Financial Statements have generally been prepared on the historical cost
convention. Accounting policies not specifically referred to otherwise are in
consonance with generally accepted accounting principals.

2. BASIS OF ACCOUNTING

The company follows the mercantile system of accounting generally except
otherwise stated herein below, if so.

3. FIXED ASSETS

Fixed assets are stated at cost of less accumulated depreciation. No Depreciation
has been provided during the year under consideration.

4. INVESTMENTS
Investments are stated at cost.

5. INVENTORIES

Inventory is valued at cost or net realizable value whichever is less.

6. REVENUE AND EXPENDITURE RECOGNITION

Revenue is recognized and expenditure is accounted for on their accrual except
insurance claim, claims in respect of material purchased and sold which are
accounted for on cash basis.

7. MISCELLANEOUS EXPENDITURE

Miscellaneous Expenditure such as preliminary expenditure are amortized over a
period of 5 years.

8. DEFER TAX

The Deferred tax is recognized for all temporary differences subject to the
consideration of prudence and at currently available rates. Deferred Tax assets are
recognized only if there is virtual certainty that they will be realized.

9. FOREIGN CURRENY TRANSACTION
There is no such transaction during the year.

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Mar 31, 2014

1.1 General

i. The accounts are prepared on the historical cost basis and on the accounting Principles of going concern.

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

1.2 Revenue Recognition : Expenses and incomes considerable payable and Receivable respectively are accounted on accrual basis except dividend income and telephone expenses, which are accounted for on cash basis.

1.3 Inflation : Assets and Liabilities are recorded at historical cost. These costs are not adjusted to reflect the changes in the purchasing power of money.

1.4 Valuation of Inventories : Raw materials, stores and spares are valued at cost or a net realizable value whichever is lower; cost is arrived at an average price method basis after considering all incidental expenses and provisions for wastages etc.

1.5 Investment : Long Term Investments are stated at Cost. When there is a decline in the value of any investment, which is not considered to be temporary, then the same is provided for by crediting the value of the investment and charging the same to Profit & Loss Account.

1.6 Depreciation : Depreciation on fixed assets is provided on straight-line method on pro rata basis, in accordance with the provisions of schedule XIV of the Companies Act, 1956. During the year company has charged depreciation on the basis of number of days asset is being used for Processing purpose.

1.7 Retirement Benefit : No Gratuity expenses accounted for during the year.

1.8 Treatment of Contingent Liabilities : Contingent Liabilities are not provided for and are disclosed in notes to accounts.

Contingent liabilities not provided for

a) Contingent liabilities on Account of Income tax are not ascertainable.

b) Contingent liabilities on Account of Sales tax if any are not ascertainable by us.

c) Contingent liabilities on Account of capital goods if any are not ascertainable by us.

d) Contingent liabilities on Account of fiscal status if any are not ascertainable by us.

Demand Appeal and Litigations : Demand raised by Sales-tax department of Rs. 1790261/- against Entry-tax Rs. 3156994/- against M.P. Commercial Tax, Provident Fund Demand of Rs. 3,15,231/- (demand of provident fund of Rs. 4,80,000 has been paid by the company during this financial year) is under appeal before the respective authorities and pending for disposal. For which no liability has been created as the management is confident to get the relief for the same hence no provision has been made.

1.9 Based on the legal advice : No provision for taxation has been provided in view of carried forward losses of the company.

1.10 a) The Company does not possess information as to which of its suppliers are Ancillary industrial undertaking / small scale industrial undertaking holding permanent registration certificate issued by the Directorate of Industries of State or Union Territory, consequently the liability, if any, of interest which would be payable under "The Interest on Delayed payments to small scale and Ancillary industrial Undertaking Act, 1992 cannot be ascertained. However, the Company has not received any claims in respect of Interest. b) As stated in note (a) above the company does not possess information as to which of suppliers are small- scale industrial undertakings. Accordingly the information regarding total outstanding dues to small scale Industrial Undertakings as at the end of the year and that regarding the names of small scale Industrial to whom the company owes more than Rs. 1.00 lacs and outstanding for more than 30 days not been complied and hence not disclosed by the company.

1.12 The company has involvement in certain parties as under: -

a) Trade Receivables include Rs. 1,03,68,628.00 under litigation.

b) In view of the management there is reasonable certainty that amount of other debts which is capable of recovery, However due to suspension of manufacturing and other activities debts has become long overdue and could not be realized confirm by the respective parties. However efforts for realization of this debt continue.

1.12 Segment information : The Company deals in single business segment i.e. of Soyabean. Hence AS-17 on Segment Reporting is not applicable to the Company.

1.13 In the opinion of the management and to the best of their knowledge and belief, the aggregate value of the current assets, loans and advances have their value on realization in ordinary course of business, at least equal to the value at which they are stated in the balance sheet.

1.14 Balance under the main heads, Current Liabilities, Sundry Debtors and Loans and Advances (including balance with Government and other authorities), unsecured loans and others are subject to confirmation / reconciliation by the respective parties. Adjustments, if any will be accounted for as and when reconciled / confirmed.

1.15 Director''s remuneration has not been charged in view of losses.

1.16 Taxes on Income : As per AS-22, deferred tax asset can be recognized and carried forward only to the extent that there is virtual certainty that sufficient taxable income would be available in future, as there is no virtual certainty that sufficient taxable income will be available in future against which such deferred tax asset can be realized hence deferred tax asset have not been recognized.

1.17 Related party disclosure : Names of related parties and related party relationship Related parties having control and significant influence

Names of Related Parties Relationship

Gaurav Bhai Patel Key Management Personnel (KMP)

Arvind bhai Patel Key Management Personnel (KMP)

Dakshaben Patel Relative of KMP

Dineshbhai T.Patel (H.U.F.) Relative of KMP

Divya Grain co. Relative of KMP

Gainex Products Relative of KMP

Meghana Patel Relative of KMP

Naina Ben Patel Relative of KMP

Shiv Trading co. Relative of KMP

Arvind Foods Ltd. KMP having significant influence over the co.