Accounting Policies of Blueblood Ventures Ltd. Company

Mar 31, 2024

1.1 Company Overview

Blueblood Ventures Limited (BVL) ("the Company") is a public company limited by shares incorporated on
23/02/2007 under the Companies Act, 1956 (now replaced by the Companies Act, 2013).Blueblood Ventures
Limited is engaged in the business of equity investment and trading in equity, derivatives, commodities, futures,
and options, as well as other financial products. The registered office of the Company is located at P-27, Malviya
Nagar, Main Market ,New Delhi - 110017 and its CIN is L70102DL2007PLC159680.

1.2 Basis of Preparation of Financial Statements

The Financial Statement of the Blueblood Ventures Limited ("the Company") have been prepared to comply in all
material aspects with the accounting standards notified by the companies (Accounting Standard) Rules, read with
rule 7 to the companies (Accounts) Rules, 2014 in respect of section 133 to the Companies Act, 2013. As per the
notification provided by MCA [vide its press release No. 11/11/2009 dated 2nd, January, 2015] companies whose
securities are listed or in the process of listing on SME exchanges shall not be required to apply Ind AS. The
Financial statements are prepared under the historical cost convention, on an accural basis of accounting. The
accounting policies applied are consistent with those used in previous year.

1.3 Accounting Estimates

The preparation of the financial statements in conformity with generally accepted accounting principles, requires
the management to make estimates and assumption that affect the reported amounts of assets and liabilities and
disclosure of contigent liabilities as at the date of financial statements and the result of operation during the
reported period. Although these estimates are based upon the management''s best knowledge of current events
and actions, actual results could differ from these estimates which are recognised in the period in which they are
determined.

1.4Use of Estimates

The presentation of Financial Statements requires estimates and assumptions to be made that affect the reported
amount of assets and liabilities on the date of financial statements and the reported amount of revenue and
expenses during the reporting period. Difference between the actual results and estimates are recognized in the
period in which results are known / materialized.

1.5 Property, Plant & Equipment (PPE)

Property, Plant & Equipment ( PPE) are stated at cost of acquisition including attributable interest and finance
cost till date of acquisition/installation of the asset and improvement thereon less accumulated depreciation and
impairment loss thereon.

1.6 Depreciation

The company depreciates property, plant and equipment over their estimated useful lives on written down value
method. The estimated useful lives of assets are as follows:

Computer equipment 3 Years

Office equipment 5 Years

Furniture and fixtures 10 Years

Vehicles 8 Years

1.7 Impairment

The carrying amount of assets are reviewed at each balance sheet date if there is any indication of impairment
based on internal or external factors. An Impairment loss is recognised in the statement of profit and loss
whenever the carrying amount of an asset or cash generating unit exceed its recoverable value. The Recoverable
amount of the asset (or where applicable, that of the cash generating unit to which the asset belongs) is
estimated as the higher of its net selling price and its value in use. A previously recognised impairment loss is
increased or reversed depending on changes in circumstances. However the carrying value after reversal is not
increased beyond the carrying value that would have prevailed by charging usual depreciation if there was no
impairment.

1.8 Investment

Current investment are carried at lower of cost or NRV . Non-Current Investment are stated at cost. Provision for
diminution in the value of Non-Current investments is made only if such a decline is other than temporary.

1.9 Inventories
Shares or Securities

a. Inventories of shares and commodities are valued at lower of cost or market value.

b. Closing stock of share includes stock kept as margin/securities with Stock broker.

l.lOBoirowing costs

Borrowing costs that are attributable to the acquisition and/or construction of qualifying assets are capitalised as
part of the cost of such assets, in accordance with noticed Accounting Standard 16 "Borrowing Costs". A qualifying
asset is one that necessarily takes a substantial period of time to get ready for its intended use. Capitalisation of
borrowing costs is suspended in the period during which the active development is delayed due to, other than
temporary, interruption. All other borrowing costs are charged to the statement of profit and loss as incurred.
Discount on issue of Zero coupon debenture is amortized over the tenure of debentures.

1.11 Taxation

Tax expense for the year comprises current income tax and deferred tax. Current income tax is determined in
respect of taxable income with deferred tax being determined as the tax effect of timing differences representing
the difference between taxable income and accounting income that originate in one period, and are capable of
reversal in one or more subsequent period(s). Such deferred tax is quantified using rates and laws enacted or
substantively enacted as at the end of the financial year.

During the financial year 2023-24, deferred tax has not been recognised due to virtual uncertainly of its realisation.

1.12 Revenue Recognition

a. Revenue on account of trading in securities is recognised on the basis of each trade executed at the stock
exchange duringthe financial year.

b. In respect of non-delivery based transaction such as derivative, Future / option the profit or loss is accounted
for or onmarked to market basis on the closure of each trading day on daily basis.

c. Dividend from investment is accounted for as income when the right to receive dividend is established.

d. Interest income is accounted on accrual basis.

d. All other revenue is recognized on accrual basis.

e. Revenue excludes GST.

f. Interest on statutory dues is provided on demand/payment basis.