Accounting Policies of Bampsl Securities Ltd. Company

Mar 31, 2024

Significant Accounting Policies and Notes to Financial 1 Statements:

Corporate and General 1 Information

BAMPSL Securities Limited (the Company) incorporated and domiciled in India having its registered office at 100-A, Cycle Market, Jhandewalan Extention, New Delhi-110055, India. The Company is a Non Deposit Taking, Non Banking Financial Company ("NBFC") as defind under section 45 - IA of the Reserve Bank of India ("RBI") Act, 1934. Equity Shares of the Company are listed on Bombay Stock Exchange.

Basis of Preparation of financial 1 statements

(A) Compliance with Ind AS

The financial statements of the Company comply in all material aspects with Indian Accountig Standards (''Ind AS'') notified under section 133 of the Companies Act, 2013 (''the Act'') read with the Companies (Indian Accounting Standards) Rule 2015 as amended from time to time and other relevant provisions of the Act. Any directions issued by the RBI or other regulators are implemented as and when they become applicable.

Accounting policies have been consistently applied except where a newly issued accounting standard is initially adopted or revision to the accounting standard requires a change in the accounting policy hereto in use.

(B) Presentation of financial statements

The Balance Sheet, the statement of changes in Equity and the statement of profit & loss are presented in the formate prescribed under Division III of Schedule III of the Act, as ammended from time to time, for Non Banking Financal Companies (''NBFCs'') that are required to comply with Ind AS. The statement of cash flows has been presented as per requirements of Ind AS 7 Statement of Cash Flows.

Basis of

(C) preperation

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

Use of estimates and

(D) judgements

The preparation of the financial statements in conformity with Ind AS requires management to make estimates, judgements and assumptions that effect the application of accounting policies and the reported amounts of assets and liabilities (including contingent liabilities) and disclosures as of the date of the financial statements and reported amounts of revenues and expenses for the reporting period.. Actual results could vary from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised if the revision effects only that period or in the period of revision and future periods if the revision effects both current and future years Significant Accounting 1 Policies:

A Financial instruments - initial recognition, subsequent measurement and impairment

A financial instrument is any contract that gives rise to a financial asset of one entity and a

. financial liability or equity instrument of another entity.

(i) Financial Assets

Financial Assts are measured at amortised cost or fair value through other comprehensive income or fair value through Profit or Loss, depending on its business model for managing those financial assets and the assets contractual cash flow characteristics.

Subsequent measurements of financial assets are dependent on initial categorisation. For impairment purposes significant financial assets are tested on an individual basis, other financial assets are assessed cgjlgctively in groups that share similar credit risk characteristics.

Trade receivables

Trade receivables are recognised at fair value.

Financial

(ii) Liabilities

All financial liabilities are recognised at fair value through Profit and Loss.

Trade and other payables

A payable is classified as ''trade payable'' if it is in respect of amount due on account of goods purchased in the normal course of business. These amounts represent liabilities for goods purchased by the company prior to the end of financial year which are unpaid.

Equity

Instruments

An equity instrument is any contract that evidences a residual interest in the assets of an equity after deducting all of its liabilities. Equity instruments issued by the Company are recognised at the proceeds received. Transaction cost of an equity transaction are recognised as deduction from equity.

(iii) Taxation

The tax expense for the period comprises of current tax and deferred income tax. Tax is recognised in Statement of Profit & Loss.

a) Current Tax

Current tax provision is computed for income calculated after considering allowances and exemptions under the provisions of the applicable Income Tax Laws. Current tax assets and current tax liabilities are off set, and presented as net.

b) Deferred Tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the Financial Statements and corresponding tax basis used in the computation of taxable profit.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of reporting period. The carrying amount of Deferred tax liabilities and assets are reviewed at the end of each reporting period.

Revenue

(iv) Recognition

Revenue from sale of goods is recognised when the significant risk and rewards of ownership have been transferred to the buyer. The dividend income is recognised when right to receive the same is established.

(v) Earning per Share

Basic Earning per Share is calculated by dividing the profit or loss after tax for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed by dividing the profit or loss after tax by the weighted average number of equity shares considered for deriving basic earnings per shares and weighted average number of equity shares which could have been issued.

(vi) Provisions and contingencies Provisions

Provisions are recognised when the Company has a present obligation as a result of a past event. It is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Provisions are reviewed at each balance sheet date and are adjusted to reflect the current best estimate.

Contingencies

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle or a reliable estimate of the amount can not be made. Information on contingent liability is disclosed in the Notes to the Financial Statements. Contingent assets are not recognised. However, when the realisation of income is vertually certain, then the related asset is no longer a contingent asset, but it is recognised as an asset.

Current versus non-current

(vii) classification

The policy of the Company is required to presents assets and liabilities in statement of financial position based on current/non-current classification.

The Company has to present non-current assets and current assets before equity, noncurrent liabilities and current liabilities in accordance with Schedule III, Division II of Companies Act, 2013 notified by MCA An asset is classified as current when it is:

a) Expected to be realised or intended to be sold in normal operating cycle.

b) Held primarily for the purpose of trading.

c) Expected to be realised within twelve months after the reporting period, or

d) Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

All other assets are classified as noncurrent.

A liability is classified as current when:

a) It is expected to be settled in normal operating cycle.

b) It is held primarily for the purpose of trading.

c) It is due to be settled within twelve months after the reporting period, or

d) There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.

All other liabilities are classified as noncurrent.

Deferred tax assets and liabilities are classified as non-current assets and liabilities.

Critical accounting estimates, assumptions and 1 judgements

In the process of applying the Company''s accounting policies, management has made the following estimates, assumptions and judgements, which have significant effect on the amounts recognised in the financial statement:

A Income Tax

Management judgement is required for the calculation of provisions for income tax and deferred tax assets and liabilities. The Company reviews at each balance sheet date the carrying amount of deferred tax. The factors used in estimates may differ from actual outcome which could lead to significant adjustment to the amounts reported in the financial statements.

B Contingencies

Management judgement is required for estimating the possible outflow of resources, if any, in respect of contingencies/claim/litigations against the Company as it is not possible to predict the outcome of pending matters with accuracy.

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Mar 31, 2015

(a) Basis of Accounting

The financial statements have been prepared in accordance with the generally accepted accounting principles in India (Indian GAAP). The Company has prepared these financial statements to comply in all material respects with the Companies (Accounts) Rules 2014 and the relevant provisions of the Companies Act, 2013. The financial statements have been prepared on an accrual basis and under the historical cost convention. The accounting policies adopted in the preparation of financial statements are consistent with those of previous year.

(b) Use of Estimates

The presentation of financial statements in conformity with the generally accepted accounting principles requires the management to make estimates and assumptions that affect the reported amount of assets and liabilities, revenues and expenses and disclosure of contingent liabilities. Such estimates and assumptions are based on management's evaluation of relevant facts and circumstances as on the date of financial statements.

(c) Stock in trade

Stock in trade of shares is valued at cost or market value whichever is lower.

(d) Employees Benefits

These are accounted for on accrual basis.

(e) 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. The company adopts full provision basis for deferred tax in accordance with the Accounting Standard-22 on accounting for taxes on income. Deferred tax is recognized subject to the consideration of prudence, on timing difference, being the difference between taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

(f) Earning per Share

Basic Earning per Share in calculated by dividing the profit after tax for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed by dividing the profit after tax by the weighted average number of equity shares considered for deriving basic earnings per shares and weighted average number of equity shares which could have been issued.

(g) Contingent Liabilities

Contingent Liabilities are not provided for and are discussed by way of notes, if any.

(h) Fixed Assets and depreciation

(a) Fixed Assets are stated at cost less Accumulated Depreciation.

(b) Depreciation on Fixed Assets has been provided on Straight Line Method at the rates and in the manner specified in Schedule II to the Companies Act, 2013.

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Mar 31, 2014

(a) Basis of Accounting

The financial statements are prepared as per historical cost convention and in accordance with generally accepted and accounting principles in India, the provisions of the Companies Act,1956, the applicable Accounting Standards referred to in Section 211(3C) of the Companies Act, 1956. income and expenditure having material bearing on the financial statements are recognized on accr basis.

(b) Use of Estimates

The presentation of financial statements in conformity with the generally accepted account principles requires the management to make estimates and assumptions that effect the report amount of assets and liabilities, revenues and expenses and disclosure of contingent liabilities, estimates and assumptions are based on management's evaluation of relevant facts and circumstance as on the date of financial statements.

(c) Stock in Trade

Stock in trade of shares is valued at cost or market value whichever is lower.

(d) Employees Benefits

These are accounted for on accrual basis.

(e) Provision for Current and Deferred Tax

Provision for current tax is made after taking into consideration benefits admissible under provisions of the Income Tax Act, 1961. The Company adopt full provision basis for deferred tax accordance with the Accounting Standard-22 on accounting for taxes on income. Deferred tax recognized subject to the consideration of prudence, on timing difference, being the difference between taxable incomes and accounting income that originate in one period and are capable of reversal in or more subsequent periods.

(f) Earning per Share

Basic Earning per Share is calculated by dividing the profit after tax for the year attributable to shareholders by the weighted average number of equity shares outstanding during the year. earnings per share is computed by dividing the profit after tax by the weighted average number equity shares considered for deriving basic earnings per shares and weighted average number of equal shares which could have been issued.

(g) Contingent Liabilities

Contingent Liabilities are not provided for and are discussed by way of notes, if any.

(h) Fixed Assets and Liabilities

(a) Fixed Assets are stated at cost less Accumulated Depreciation.

(b) Depreciation on Fixed Assets has been provided on Straight Line Method at the rates and i: the manner specified in Schedule XIV to the Companies Act, 1956.

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Mar 31, 2013

(a) Basis of Accounting

The financial statements are prepared as per historicai cost convention and in accordance wth the generally accepted and accounting principles in India, the provisions of the Companies Act,1956, and the applicable Accounting Standards referred to in Section 211 (3C) of the Companies Act, 1956. All income and expenditure having material bearing on the financial statements are recognized on accrual basis.

(b) Use of Estimates

The presentation of financial statements in conformity with the generally accepted accounting principles requires the management to make estimates and assumptions that effect the reported amount of assets and liabilities, revenues and expenses and disclosure of contingent liabilities, Such estimates and assumptions are based on management''s evaluation of relevant facts and circumstances as on the date of financial statements.

(c) Stock in Trade

Stock in trade of shares is valued at cost or market value whichever is lower.

(d) Employees Benefits

These are accounted for on accrual basis.

(e) Provision for Current and Deferred Tax

Provision for current tax is made after taking into consideration benefits admissible under the provisions of the the Income Tax Act, 1961 The Company adopts full provision basis for deferred tax in accordance with the Accounting Standard-22 on accounting for taxes on income. Deferred tax is recognized subject to the consideration of prudence, on timing difference, being the difference between taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

(f) Earning per Share

Basic Earning per Share is calculated by dividing the profit after tax for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed by dividing the profit after tax by the weighted average number of equity shares considered for deriving basic earnings per shares and weighted average number of equity shares which could have been issued.

(g) Contingent Liabilities

Contingent Liabilities are not provided for and are discussed by way of notes, if any.

(h) Fixed Assets and Liabilities

(a) Fixed Assets are stated at cost less Accumulated Depreciation.

(b) Depreciation on Fixed Assets has been provided on Straight Line Method at the rates and in the manner specified in Schedule XIV to the Companies Act, 1956.

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Mar 31, 2012

(a) Basis of Accounting

The financial statements are prepared as per historical cost convention and in accordance with the generally accepted accounting principles in India'the provisions of the Companies Act'1956'and the applicable - Accounting Standards referred to in Section 211(3C) of the Companies Act'1956. All income and expenditure having material bearing on the financial statements are recognized on accrual basis.

(b) Use of Estimates

The presentation of financial statements in conformity with the generally accepted accounting principles requires the management to make estimates and assumptions that effect the reported amount of assets and liabilities'revenues and expenses and disclosure of contingent liabilities. Such estimates and assumptions are based on management's evaluation of relevant facts and circumstances as on the date of financial statements.

(c) Stock in trade

Stock in trade of shares is valued at market rate.

(d) Employees Benefits

These are accounted for on accrual basis.

(e) 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. The company adopts full provision basis for deferred tax in accordance with the Accounting Standard-22 on accounting for taxes on income. Deferred tax is recognized subject to the consideration of prudence'on timing difference'being the difference between taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

(f) Earning per Share

Basic Earning per Share is calculated by dividing the profit after tax for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed by dividing the profit after tax by the weighted average number of equity shares considered for deriving basic earnings per shares and weighted average number of equity shares which could have been issued.

(g) Contingent Liabilities

Contingent Liabilities are not provided for and are discussed by way of notes'if any.

(h) Fixed Assets and depreciation.

(a) Fixed Assets are stated at cost less Accumulated Depreciation.

(b) Depreciation on Fixed Assets has been provided on Straight Line Method at the rates and in the manner specified in Schedule XIV to the Companies Act'1956.

b) The company has only one class of equity shares having a par value of Rs. 1 per share. Each shareholder is eligible to one vote per paid equity share heW (i.e. in proportion to the paid up shares in equity capital) and ranks pari passu. The Dividend proposed'if any'by the Board of Directors is subject to approval of shareholders in the ensuring Annual General Meeting. The repayment of equity share capital in the event of liquidation and buy back of shares are possible subject to prevalent regulations. In the event of liquidation'normally the equity shareholders are eligible to receive the remaining assets of the company in proportion to their shareholding.

c) The company has neither any holding company nor any subsidiary company.

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Mar 31, 2011

(i) Financial Period

Current Financial Year consists of twelve months starting from 1st April 2010 to 31st March 2011.

(ii) Basis of Preparation of Financial Statements;

(a) The financial statements have been prepared under the historical cost convention in accordance with the normally accepted accounting principles and the provisions of the Companies Act, 1956.

(b) Accounting Policies not specifically referred to otherwise are consistent and in line with generally accepted accounting principles.

(iii) Nature of Business & Revenue Recognition

(a) The Company is dealing in shares and securities for its own and maintained records for same. It maintains a scrip register in which all types of shares purchased and sold are recorded.

(b) All income and expenditure are accounted for on mercantile basis excepts as stated otherwise.

(iv) Fixed Assets and depreciation.

(a) Fixed Assets are stated at cost less Accumulated Depreciation.

(b) Depreciation on Fixed Assets has been provided on Straight Line Method at the rates and in the manner specified in Schedule XIV to the Companies Act, 1956.

(v) Investment

The Company having policies to valued its investment at cost.

(vi) Accounting & Valuation of Inventory:

Inventory of shares is valued at cost price following first-in-first out method.

(vii) Retirement benefits:

The Company having policies of payment of retirement benefit and gratuity on cash basis, where applicable.

(viii) Provision for Current and Deferred Tax:

Provision for Current Tax is made after taking into consideration benefits admissible under the provisions of Income Tax Act, 1961. Deferred tax resulting from "time difference" between taxable and accounting income is accounted for using the tax rates and laws that are enacted or substantively enacted as on the balance sheet date.

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Mar 31, 2010

(i) Financial Year

Current Financial Year consists of twelve months starting from 1st April 2009 to 31st March 2010.

(ii) Basis of Preparation of Financial Statements;

(a) The financial statements have been prepared under the historical cost convention in accordance with the normally accepted accounting principles and the provisions of the Companies Act, 1956.

(b) Accounting Policies not specifically referred to otherwise are consistent and in line with generally accepted accounting principles.

(iii) Nature of Business & Revenue Recognisation

(a) The company is dealing in shares and securities for its own and maintained records for same. It maintains a scrip register in which all types of shares purchased and sold are recorded.

(b) All income and expenditure are accounted for on mercantile basis excepts as stated otherwise.

(iv) Fixed Assets and depreciation.

(a) Fixed Assets are stated at cost less Accumulated Depreciation.

(b) Depreciation on Fixed Assets has been provided on Straight Line Method at the rates and in the manner specified in Schedule XIV to the Companies Act, 1956.

(v) Investment

The Company having a policies to valued its investment at cost.

(vi) Accounting & Valuation of Inventory:

Inventory of shares is valued at cost price following first-in-first out method.

(vii) Retirement benefits:

The Company having policies of payment of retirement benefit and gratuity on cash basis, where applicable.

(viii) Contingent Liabilities:

Contingent Liabilities are not provided for and are disclosed by way of notes, if any.

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Mar 31, 2003

(i) Financial Year

Current Financial Year consists of eight months starting from 1 st August 2002 to 31 st March 2003 (ii) Basis of preparation of financial statements;

(a) The financial statements have been prepared under the historical cost convention in accordance with the normally accepted accounting principles and the provisions of the Companies Act, 1956.

(b) Accounting policies not specifically referred to otherwise are consistent and in with generally accepted accounting principles.

(iii) Revenus recognition

All Income and expenditure are accounted for on mercantile basis excepts as stated otherwise.

(iv) Fixed Assets and depreciation.

(a) Fixed Assets are stated at cost less accumulated depreciation.

(b) Depreciation on Fixed Assets has been provided on straight line method at the rates and in the manner specified in schedule XIV to the Companies Act, 1956.

(v) Investment

Investments are stated at cost of acquisition.

(vi) Accounting & Valuation of Inventory:

(a) The company is dealing in shares and securities for its ownself as well as its clients and maintains combined records for both the categories. It maintains a scrip register in which all types of shares purchased and sold are recorded. The Profit or Loss on any scrip purchased/sold without physical delivery are also recorded in the Scrip Register.

(b) The commission received or paid on Purchase/Sale of such share for clients is being added/ deducted from the amount of purchase and sale of such shares by the company

(c) Inventory of shares are valued at cost price following first-in-first out method. (vii) Retirement benefits: -

Company pays retirement and gratuity etc. benefits on cash basis, wherever applicable

(viii) Contingent Liabilities

All known Liabilities wherever material is provided for, and liabilities, which are in dispute, are referred to by way on Notes to the account.

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Jul 31, 2002

(i) Basis of preparation of financial statements;

(a) The financial statements have been prepared under the historical cost convention in accordance with the normally accepted accounting principles and the provisions of the Companies Act, 1956.

(b) Accounting policies not specifically referred to otherwise are consistent and in with generally accepted accounting principles.

(ii) Fixed Assets and depreciation.

(a) Fixed Assets are stated at cost less accumulated depreciation.

(b) Depreciation on Fixed Assets has been provided on straight line method at the rates and in the manner specified in schedule XIV to the Companies Act, 1956.

(iii) Investment

Investments are stated at cost of acquisition.

(iv) Accounting & Valuation of Inventory:

(a) The company is dealing in shares and securities for its ownself as well as its clients and maintains combined records for both the categories. It maintains a scrip register in which all types of shares purchased and sold are recorded. The Profit or Loss on any scrip purchased/sold without physical delivery are also recorded in the Scrip Register.

(b) The commission received or paid on Purchase/Sale of such share for clients is being added/ deducted from the amount of purchase and sale of such shares by the company.

(c) Inventory of shares are valued at cost price following first-in-first out method.

(v) Retirement benefits: -

Company pays retirement and gratuity etc. benefits on cash basis, wherever applicable

(vi) Contingent Liabilities

All known Liabilities wherever material is provided for, and liabilities, which are in dispute, are referred to by way on Notes to the account.