Accounting Policies of Alna Trading & Exports Ltd. Company

Mar 31, 2024

B. Material Accounting Policies

B.1 Basis of Preparation and Presentation

The financial statements have been prepared on accrual basis under the historical cost convention.

The financial statements of the Company have been prepared to comply with the Indian Accounting standards (''Ind AS''), includi ng the rules notified
under the relevant provisions of the Companies Act, 2013.

Company''s financial statements are presented in Indian Rupees , which is also its functional currency.

B.2 Summary of Material Accounting Policies
(a) Property, Plant and Equipment

Property, plant and equipment are stated at cost, net of recoverable taxes, trade discount and rebates less accumulated depreciation and impairment
losses, if any. Such cost includes purchase price, borrowing cost and any cost directly attributable to bringing the assets to its working condition for
its intended use, net charges on foreign exchange contracts and adjustments arising from exchange rate variations attributable to the assets, if any .

Subsequent costs are included in the asset''s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future
economic benefits associated with the item will flow to the entity and the cost can be measured reliably.

Depreciation on Property, plant and equipment is provided to the extent of depreciable amount on the Written Down Value method, based on the
useful life of the assets as prescribed in Schedule II to the Companies Act, 2013.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted
prospectively, if appropriate.

Gains or losses arising from derecognition of a property, plant and equipment are measured as the difference between the net disposal proceeds and
the carrying amount of the asset and are recognised in the Statement of Profit and Loss when the asset is derecognised.

(b) Inventories

Items of inventories are measured at lower of cost and net realisable value after providing for obsolescence. Cost of inventories comprises of cost of
purchase, cost of conversion and other costs including manufacturing overheads net of recoverable taxes incurred in bringing them to their respective
present location and condition.

Cost of raw materials, chemicals, stores and spares, packing materials, trading and other products are determined on cost.

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Mar 31, 2014

A) Basis of Accounts

The financial statements have been prepared under the Historical Cost Convention in accordance with normally accepted accounting principles and the provisions of the Companies Act, 1956 as adopted consistently by the company.

b) Fixed Assets

Fixed Assets arc stated at Acquisition Cost less accumulated Depreciation.

c) Depreciation

Depreciation on Fixed Assets is provided on the Written Down Value Method at the rates and in the manner prescribed by Schedule XIV to the Companies Act, 1956.

d) Investments

Long term Investments are stated at cost. Provision for diminution in the value of investments is made only if such diminution is not of temporary in the opinion of the Management.

e) Revenue Recognition

All Income and expenditure items having a material bearing on the Financial Statements are generally recognised on accrual basis except export incentive which is accounted on cash basis.

f) Accounting for Foreign Currency Transaction:

i) Transactions denominated in foreign currencies are normally recorded at the exchange rates prevailing at the date of transaction. Any gain or toss arising on settlement is transferred to Profit & Loss Account.

ii) Monetary items denominated in foreign currencies at the year end and not covered by the forward exchange contracts are translated at the year end rates. Any gain or loss on settlement of transaction of foreign currency is transferred to Profit & Loss Statement.

g) Provision for Taxation

i) Provision for Taxation is made on the basis of Current Tax Payable method as calculated on the basis of provision of the Income Tax Act, 1961.

ii) Deferred tax is recognised on timing difference, being the difference between taxable income and accounting income that originates in one period and or capable of reversal in one or more subsequent periods.

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Mar 31, 2013

A) Basis of Accounts

The financial statements have been prepared under the Historical Cost Convention in accordance with normally accepted accounting principles and the provisions of the Companies Act, 1956 as adopted consistently by the company.

b) Fixed Assets

Fixed Assets are stated at Acquisition Cost less accumulated Depreciation.

c) Depredation

Depreciation on Fixed Assets is provided on the Written- Down Value Method at the rates and in the manner prescribed by Schedule XIV to the Companies Act, 1956.

d) Investments

Long term Investments are stated at cost. Provision for diminution in the value of investments is made only if such diminution is not of temporary in the opinion of the Management.

e) Revenue Recognition

Alt income and expenditure items having a material bearing on the Financial Statements are generous recognised on accrual basis except export incentive which is accounted on cash basis.

f) Accounting for Foreign Currency Transaction:

i) Transactions denominated in foreign currencies are normally recorded at the exchange rates prevailing at the date of transaction. Any gain or loss arising on settlement is transferred to Profit 6 Loss Account.

ii) Monetary items denominated in foreign currencies at the year end and not covered by the forward exchange contracts are translated at the year end rates. Any gain or loss on settlement of transaction of foreign currency is transferred to Profit & Loss Statement

g) Provision for Taxation

i) Provision for Taxation is made on the basis of Current Tax Payable method as calculated on the basis of provision of the Income Tax Act, 1961.

ii) Deferred tax is recognised on timing difference, being the difference between taxable income and accounting income that originates in one period and or capable of reversal in one or more subsequent periods.

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Mar 31, 2012

A) Basts of Accounts

The financial statements have been prepared under the Historical Cost Convention in accordance with normally accepted accounting principles and the provisions of the Companies Act, 1956 as adopted consistently by the company.

b) Fixed Assets

Fixed Assets are stated at Acquisition Cost less accumulated Depreciation.

c) Depredation

Depreciation on Fixed Assets is provided on the Written Down Value Method at the rates and in the manner audited by Schedule XIV to the Companies Act, 1956.

d) Investments

tons trail investments are stated at cost. Provision for diminution in the value of Investments is made only if such diminution is not of temporary in the opinion of the Management,

e) Revenue Recognition

All income and expenditure items having a material bearing on the Financial Statements are generally recognized on accrual basis except export incentive with attuned 011 cash basis.

f) Accounting for Forging Currency Transaction:

f) Transactions denominated in foreign currents are normally recorded at the exchange rates prevailing at the dare of transaction. Any gain or loss arising on settlement is transferred to Profit & Loss Account.

ii) Monetary items denominated in foreign currencies at the year end and not covered by the forward exchange contracts are translated at the year end rates. Any gain or loss on settlement of transaction of foreign currency is transferred to Profit & Loss Statement.

g) Provision for Taxation

i) Provision for Taxation is made on the basis of Current Tax Payable method as calculated on the basis of provision of the Income Tax Act, 1961.

ii) Deferred tax is recognized on timing difference, being the difference between taxable income and accounting income that originates in one period and or capable of reversal in one or more subsequent periods.

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Mar 31, 2010

A) Basis of Accounts

The financial statements have been prepared under the Historical Cost Convention in accordance with normally accepted accounting principles and the provisions of the Companies Act, 1956 as adopted consistently by the company.

b) Fixed Assets

Fixed Assets are stated at Acquisition Cost less accumulated Depreciation.

c) Depreciation

Depreciation on Fixed Assets is provided on the Written Down Value Method at the rates and in the manner prescribed by Schedule XIV to the Companies Act, 1956.

d) Investments

Long term Investments are stated at cost. Provision for diminution in the value of investments is made only if such diminution is not of temporary in the opinion of the Management.

e) Revenue Recognition

All income and expenditure items having a material bearing on the Financial Statements are generally recognised on accrual basis except export incentive which is accounted on cash basis.

f accounting for Foreign Currency Transaction:

i) transactions denominated in foreign currencies are normally recorded at the exchange rates prevailing at the date of transaction. Any gain or loss arising on settlement is transferred to Profit & Loss Account.

ii) Monetary items denominated in foreign currencies at the year end and not covered by the forward exchange contracts are translated at the year end rates. Any gain or loss on settlement of transaction of foreign currency is transferred to Profit & Loss Account.

g) Provision for Taxation

i) Provision for Taxation is made on the basis of Current Tax Payable method as calculated on the basis of provision of the Income Tax Act, 1961.

ii) Deferred tax is recognised on timing difference, being the difference between taxable income and accounting income that originates in one period and or capable of reversal in one or more subsequent periods.

Notes: 1) The company has not received information front vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure relating to amount unpaid as at the year end together with interest paid/payable under this act have not been given