Accounting Policies of Alka Securities Ltd. Company

Mar 31, 2024

NOTE 1 : SIGNIFICANT ACCOUNTING POLICIES
1 (a) METHOD OF ACCOUNTING

The financial Statements prepared under the Historical Cost Convention on the Basis of going concern and as per
applicable accounting standards. The company follows mercantile system of accounting and recognizes income and
expenditure on accrual basis unless stated otherwise hereunder.

(b) FIXED ASSETS

Fixed Assets are stated at cost less depreciation and the deprecation is charged as per Companies Act, 2013

(c) DEPRECIATION

The company provides depreciation on its fixed assets on Written Down Value on the basis of life specified in
Schedule II of the Companies Act, 2013 as from the day of purchase.

(d) INVESTMENT

Investments are stated at cost and accounting is as per AS-13 issued by ICAI.

(e) INVENTORIES

Inventories are valued at Lower of Cost or Net Realizable Value. Cost of Inventories comprise all costs of purchase, costs
of conversion and other costs incurred in bringing the inventories to their present location and condition.

(f) REVENUE RECOGNITION

Revenue is recognized when it is earned and no significant uncertainty exists as to its realization or collection. Benefit
under the Import and Export Policy in respect of entitlement, has been accounted in the year of export on the basis of
estimation.

(g) INCOME TAXES

Income Taxes are accounted for in accordance with Accounting Standard 22 "Accounting for Taxes on Income ". Taxes
Comprise both current and deferred tax. Current Tax is Measured at the amount expected to be paid / recovered
from the revenue authorities ,using the applicable tax rates and tax laws.

The tax effect on the timing differences that result between taxable income and accounting income and are capable of
reversal in one or more subsequent periods are recorded as a deferred tax asset or a deferred tax liability. They are
measured using the substantively enacted tax rates and tax laws.

The carrying amount of MAT credit and deferred tax assets at each balance sheet date is reduced to the extent that it
is no longer reasonably certain that sufficient future taxable income will be available against which the asset can be
realized.

(h) EARNINGS PER SHARE

The Company reports basic and diluted earnings per share (EPS) in accordance with Accounting Standard 20 " Earnings
Per Share ".

Basic EPS is computed by dividing the net profit or loss for the year attributable to equity share-holders by the weighted
average number of equity shares outstanding during the year.

Diluted EPS is computed by dividing the net profit or loss during the year attributable to equity shareholders
by the weighted average number of equity shares outstanding during the years as adjusted for the effects of all dilutive
potential equity shares, except where the results are anti-dilutive.

(i) DEPRECIATION

Depreciation on tangible assets is provided on the WDV method over the useful lives of assets estimated by the
Management and as per the Schedule II of The Companies Act, 2013. Depreciation for assets purchased / sold
during a period is proportionately charged.

(j) ROUNDING OFF AND RECLASSIFICATION

Figures of the current period have been rounded off to the nearest in Rupees. The figures of previous year have
been reclassified, regrouped & rearranged to make them comparable with the current year''s figure to comply with the
requirement of Revised Schedule VI.

* Negative Amount Represents Provision for Doubtful Debt

For PSV JAIN & ASSOCIATES On behalf of the Board of Director

(CHARTERED ACCOUNTANTS) For ALKA SECURITIES LTD

FRN:131505W

DULARESH KUMAR JAIN Sonal Anil Vichare Sagar Ashok Rane

PARTNER Director Director

M. No 137264 DIN:09372274 DIN: 09022218

Date: 30^th May, 2024 Place: Mumbai Place: Mumbai

UDIN: 24137264BKCDDH1340 Date: 30^th May, 2024 Date: 30^th May, 2024

Place: Mumbai

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Mar 31, 2014

ACCOUNTING CONCEPTS:

The Company follows mercantile system of accounting, and recognises income and expenses on accrual basis.

FIXED ASSETS:

Fixed Assets are recorded at cost of acquisition including the expenditure incurred in connection with the acquisition and installation of the assets.

DEPRECIATION:

Depreciation is provided on written down value method in accordance with the rates and in the manner provided in the Schedule XIV to the Companies Act, 1956.

INVESTMENTS:

All the investments are long term investments and are stated at cost.

BORROWING COSTS

Borrowing costs that are attributable to the acquisition or construction of qualifying assets, the assets that take substantial period of time to get ready for intended use, are capitalised as part of the cost of such

INTANGIBLE ASSET:

Intangible Assets are stated at cost of acquisition less accumulated amortization.

REVENUE RECONGNITION:

Service Receipts are recognized on completion of provision of services and are recorded inclusive of all the relevant taxes and duties. The same is recognized as income on completion of transaction and at the time

RETIREMENT BENEFITS:

The Company does not have defined employee retirement policy as the employee strength does not exceed the statutory minimum.

IMPAIRMENT OF ASSETS

An asset is treated as impaired when the carrying cost of the Asset exceeds its recoverable value. An impairment loss is charged to the Profit & Loss account in the year in which an asset is identified as impaired.

USE OF ESTIMATES

The preparation of financial statements requires management to make estimates and assumption that affect the reported amounts of assets and liabilities on the date of financial statements, the reported amount of

EARNINGS PER SHARE

The Company reports basic and diluted earnings per share in accordance with AS–20 "Earnings Per Share". Basic earnings per share are computed by dividing the net profit or loss for the period by the weighted

PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

Contingent liabilities as defined in AS-29 "Provisions, Contingent Liabilities and Contingent Assets" are disclosed by way of notes to accounts. Provision is made if it becomes probable that an outflow of future

TAXES ON INCOME:

Current tax is determined as the tax payable in respect of taxable income for the year.

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Mar 31, 2003

A) Basis of Accounting

The Accounts of the Company are prepared on accrual basis except where otherwise stated, in accordance with the normally accepted accounting principles.

b) Revenue Recognition

Revenue is recognized on the basis of completion of settlement for brokerage income and for sale & purchase of shares. Dividends are stated on receipt basis.

c) Fixed Assets

Fixed assets are stated at cost less accumulated depreciation.

d) Depreciation

Depreciation on fixed assets is provided on the basis on Written Down Value Method at the rates prescribed in Schedule XIV to the Companies Act, 1956.

e) Investments Investmenst are stated at cost.

Investments include share and securities purchased with the intention of holding them as investment as per Board resolution. Profit and loss on sale of investment is computed on the basis of specific identification of cost & investments sold.

f) Miscellaneous Expenditure

Preliminary Expenses are amortized over a period of ten years.

g) Contingent Liabilities

Contingent Liabilities are determined on the basis of available information and are disclosed by way of notes.