Accounting Policies of Teerth Gopicon Ltd. Company

Mar 31, 2025

Note No. 1 : SIGNIFICANT ACCOUNTING POLICIES

A. Basis Of Preparation Of Standalone financial statements

The Standalone financial statements are prepared under the historical cost convention and comply in all material aspects with the applicable accounting principles in India, accounting standards notified under section 133 of companies act, 2013 and the relevant provision of the companies act, 2013.

B. The preparation of the standalone financial statement in conformity with GAAP requires that the management of the company ("Management") make estimates and assumptions that affect the reported amounts of revenue and expenses of the year, reported balances of assets and liabilities, and disclosures relating to contingent assets and liabilities as of the date of the Standalone financial statements. Actual results could differ from those estimates.

C. Use of Estimates

The preparation of Standalone financial statements require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities on the date of the Standalone financial statements and the reported amounts of revenues and expenses during the period reported. Actual results could differ from those estimates. Any revision to accounting estimates is recognized in accordance with the requirements of respective accounting standard.

D. Property Plant & Equipment

Property Plant & Equipment are recorded at historic cost value. The company capitalizes all costs relating to acquisition and installation of Property Plant & Equipment.

E. Revenue Recognition

Revenue is recognized only when risks and rewards incidental to ownership are transferred to the customer, it can be reliably measured and it is reasonable to expect ultimate collection. Revenue from operations includes sale of goods, services, service tax, excise duty and sales during trial run period, adjusted for discounts (net), and gain/loss on corresponding hedge contracts.

Interest income is recognized on a time proportion basis taking into account the amount outstanding and the Interest Rate Applicable.

F. Employee Benefits

1. Defined Contribution Plan

The company has contributed on a defined contribution basis to employee’s provident fund and employee’s family pension fund towards post employment benefits.

2. Defined Benefit Plan

The gratuity act is applicable to the company during the year. The company has not created the trust for gratuity payment.

3. Other long-term employee benefits

The employees of the company are entitled to leave as per rules and regulations. However, there is no un-utilized leave and hence no actual actuarial valuation is carried out.

4. Company recognizes the undiscounted amount of short-term employee benefits during the accounting period based on service rendered by employee on cash basis.

G. 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 is recognized for all timing differences being the differences between the taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax liabilities are recognized and will be paid in upcoming years.

H. 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 and it is probable that there will be outflow of resources.

Contingent Liabilities are recognized when there is possible obligation or a present obligation that may, but probably will not, require an outflow of resources.

I. Depreciation

Depreciation on property, plant and equipment has been provided to the extent of depreciable amount on the Written Down Value Method (WDV).

Depreciation has been provided based on useful life of the assets as prescribed in Schedule II to the Companies Act, 2013 on pro rata basis. Depreciation on addition to property, plant and equipment has been provided on pro-rata basis.

Restated depreciation has been provided for during the year considering restatement in depreciation right from the incorporation of company till current financial year. The Restated depreciation has been adjusted against General Reserve & Surplus.

J. Foreign Currency Transaction

The company does not have assets/liabilities at the year end denominated in foreign currency which requires translation at the rates of exchange prevailing on the Balance Sheet date in accordance with Accounting Standard 11 - "The Effects of Changes in Foreign Exchange ”

K. Other Accounting Policy

These are consistent with the generally accepted accounting principles. Note No.2

Based on guiding principles in the AS 17 - “Segment Reporting,” the primary business segment of the Company is developing and maintaining infrastructure projects and solar projects Service. Company operates in a single primary business segment, therefore disclosure requirements are not applicable. There is no reportable secondary segment.

Note No.3

Earning per Share has been calculated in accordance with Accounting Standard (AS) 20 “Earnings per Share” issued by the Institute of Chartered Accountants of India.

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Mar 31, 2024

Note No. 1 : SIGNIFICANT ACCOUNTING POLICIES

A. Basis Of Preparation Of Financial Statements

The financial statements are prepared under the historical cost convention and comply in all material aspects with the applicable accounting principles in India, accounting standards notified under section 133 of companies act, 2013 and the relevant provision of the companies act, 2013.

B. The preparation of the financial statement in conformity with GAAP requires that the management of the company ("Management") make estimates and assumptions that affect the reported amounts of revenue and expenses of the year, reported balances of assets and liabilities, and disclosures relating to contingent assets and liabilities as of the date of the financial statements. Actual results could differ from those estimates.

C. Use of Estimates

The preparation of financial statements require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities on the date of the financial statements and the reported amounts of revenues and expenses during the period reported. Actual results could differ from those estimates. Any revision to accounting estimates is recognized in accordance with the requirements of respective accounting standard.

D. Property Plant & Equipment

Property Plant & Equipment are recorded at historic cost value. The company capitalizes all costs relating to acquisition and installation of Property Plant & Equipment.

E. Revenue Recognition

Revenue is recognized only when risks and rewards incidental to ownership are transferred to the customer, it can be reliably measured and it is reasonable to expect ultimate collection. Revenue from operations includes sale of goods, services, service tax, excise duty and sales during trial run period, adjusted for discounts (net), and gain/loss on corresponding hedge contracts.

Interest income is recognized on a time proportion basis taking into account the amount outstanding and the Interest Rate Applicable.

F. Employee Benefits

1. DefinedContributionPlan

The company has contributed on a defined contribution basis to employee’s provident fund and employee’s family pension fund towards post employment benefits.

2. Defined Benefit Plan

The gratuity act is applicable to the company during the year. The company has not created the trust for gratuity payment.

3. Other long-term employee benefits

The employees of the company are entitled to leave as per rules and regulations. However there is no un-utilized leave and hence no actual actuarial valuation is carried out.

4. Company recognizes the undiscounted amount of short term employee benefits during the accounting period based on service rendered by employee on cash basis.

G. 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 is recognized for all timing differences being the differences between the taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax liabilities are recognized and will be paid in upcoming years.

H. 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 and it is probable that there will be outflow of resources.

Contingent Liabilities are recognized when there is possible obligation or a present obligation that may, but probably will not, require an outflow of resources.

I. Depreciation

Depreciation on property, plant and equipment has been provided to the extent of depreciable amount on the Written Down Value Method (WDV). Depreciation has been provided based on useful life of the assets as prescribed in Schedule II to the Companies Act, 2013 on pro rata basis. Depreciation on addition to property, plant and equipment has been provided on pro-rata basis.

Depreciation on addition to property, plant and equipment has been provided on pro-rata basis.

Restated depreciation has been provided for during the year considering restatement in depreciation right from the incorporation of company till current financial year. The Restated depreciation has been adjusted against General Reserve & Surplus.

I. Foreign Currency Transaction

The company does not have assets/liabilities at the year end denominated in foreign currency which requires translation at the rates of exchange prevailing on the Balance Sheet date in accordance with Accounting Standard 11 - "The Effects of Changes in Foreign Exchange”

J. Other Accounting Policy

These are consistent with the generally accepted accounting principles.

Note No.2

Based on guiding principles in the AS 17 - “Segment Reporting,” the primary business segment of the Company is developing and maintaining infrastructure projects Service. Company operates in a single primary business segment, therefore disclosure requirements are not applicable. There is no reportable secondary segment.

Note No.3

Earning per Share has been calculated in accordance with Accounting Standard (AS) 20 “Earnings per Share” issued by the Institute of Chartered Accountants of India.

	(In Lakhs)
	particulars	31.U3.ZUZ4	31.U3.ZUZ3
	Profit After Tax	1,156	170
	\ V Weighted average No. Of Equity Shares Outstanding \ \	62,50,000	50,00,000
	1 Weighted Average No. Of Equity Share Outstanding (Including Potential No. Of Equity Shares On Account Of Conversion Of Convertible Debenture, Conversion At The Year End) \	62,50,000	50,00,000
	\ V

		(In Lakhs)
Particulars	31.03.2024		31.03.2023
Basic Earning Per Share	18.49		3.41
Diluted Earning Per Share	18.49		3.41
(Face Value Of Rs. 10/- Each)

Note No.4

No. of employee of the company is in receipt of remuneration Rs.60,00,000/- p.a. or more during the year or Rs.5,00,000/- or more per month for the part of the year.

Note No.5

We were informed that company has not received any information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act,(MSME) 2006 therefore there are no transactions with MSME during the year and disclosure requirement relating to amount unpaid at year end together with interest paid / payable under the Act is not applicable.

	Note No.6 Related Party Disclosure I. Related parties with whom there where transactions during the year are listed below. Director/Related parties - Maheshbhai Maganbhai Kumbhani Chandrikaben Maheshbhai Kumbhani Pallav Maheshbhai Kumbhani Ghanshyambhai Maganbhai Kumbhani Sanjaybhai Maganbhai Kumbhani
	M/s Gopi Construction II. Transactions with related parties : —¦ ----

The following transactions were carried out with the related parties at normal commercial terms in the ordinary course of business:
Nature of Transactions I Volume of Transaction	Key Mgt. Personnel
1. Loan taken 2. Director Remuneration 3. Labour Contract charges	Rs. 1,37,67,000/-Rs. 87,50,000/-Rs. 37,25,361/-
Nature of Transactions	Key Mgt. Personnel
II Balances as at 31st March, 2024
I. Unsecured Loan	Rs. Nil

Notes:

1. Related party relationship is as identified by the company on the basis of available information.

2. No amounts pertaining to related parties have been provided for as doubtful debts. Also no amounts have been written off or written back during the year.

Note No.7

Balance of Sundry Debtors and Sundry Creditors are subject to confirmations to be obtained from the parties by the management.

Note No.8

Paisa is rounded up to the nearest rupees.

Note No.9

Management has certified cash balance on hand. Physical cash verification has not been conducted by us.

Note No.10

Expenditure in Foreign Currency on foreign traveling is Nil Note No.11

Imports calculated on CIF basis are Nil.

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Note No.12
Remuneration to Auditors	2023-24	2022-23
For Audit	150,000	40,000
For Taxation Matter	0	0
For Company Law / Consultancy	0	0
Total	150,000	40,000

Note No.13

Contingent Liabilities not provided for in respect of

1.Disputed Demand of GST of Rs.146.28 lakhs relating to previous financial period.

Note No.14

The company has allotted of 30,00,000 bonus equity shares of Rs. 10/- each as fully paid- up against existing 50,00,000 equity shares of Rs.10/- each to the existing shareholders of the company in the ratio of 6: 10

Note No.15

Details of Benami Property held

No proceeding has been initiated or pending against the company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and

the rules made thereunder.

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(1) WILFUL DEFAULTER

The company is not declared wilful defaulter by any bank or financial Institution

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