Accounting Policies of Bombay Talkies Ltd. Company

Mar 31, 2024

2 Significant Accounting Policies

2.1 Statement of Compliance

These financial statements have been prepared in accordance with the Indian Accounting Standards (referred to as "Ind AS") as prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules as amended from time to time.

2.2 Basis of accounting and preparation of financial statements

The Financial Statements have been prepared in accordance with Indian Accounting Standards (Ind As) as per the Companies (Indian Accounting Standards) Rules 2015, as amended from time to time and notified under section 133 of the Companies Act, 2013 (The Act) along with other relevant provisions of the Act. The Financial Statements have been prepared on a going concern basis. The company are accrual basis of accounting.

For the all periods upto and including the year ended 31st March, 2023, the company had prepared financial statements in accordance with accounting standards notified under section 133 of the Companies Act, 2013 read together with para 7 of the Companies (Accounts) Rules 2014 and the Companies (Accounting Standards) Amendment Rules, 2016.

2.3 Use of estimates

The preparation of these financial statements in conformity with the recognition and measurement principles of Ind AS requires the management of the Company to make estimates and judgements that affect the reported balances of assets and liabilities, disclosures relating to contingent liabilities as at the date of the financial statements and the reported amounts of income and expense for the periods presented.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and future periods are affected.

The Company reviews its carrying value of investments carried at amortised cost annually, or more frequently when there is indication for impairment. If the recoverable amount is less than its carrying amount, the impairment loss is accounted for.

Useful lives of property, plant and equipment

The Company reviews the useful life of property, plant and equipment at the end of each reporting period. This reassessment may result in change in depreciation expense in future periods.

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Mar 31, 2014

A. The financial statements are prepared under historical cost convention and in accordance with generally accepted accounting principles (except otherwise referred elsewhere in these notes) and materially comply with the mandatory accounting standards specified in Companies (Accounting Standards) Rules,2006 and the Guidance Notes issued by The Institute ofprinciples (except otherwise referred elsewhere in these notes) and materially comply with the mandatory accounting Chartered Accountants of India and the applicable provisions of the Companies Act, 1956.

B. Generally all items of Income and Expenditure having material effect on profitability are recognized on accrual basis.

C. Preliminary expenses are being amortized over a period of five years commencing from the current financial year in which commercial activities were commenced.

D. investments are stated at cost. Fall, if any, in value of unquoted investments could not be ascertained due to non-availability of their Balance Sheet.

E. Quoted Shares are stated at cost.

Unquoted Shares are stated at cost.

F. REVENUE RECOGNITION

a) Income is reconised as per the terms of contract with customers when the services are rendered.

G. EXPENDITURE RECOGNITION

a) All the expenses are accounted for on accrual basis

H. TAXATION

a) Tax expense comprises of current Current income tax is measured at the amount expected to be paid to the tax authorities in accordance with the income Tax Act 1961.

NOTE : 20 OTHER NOTES TO FINANCIAL STATEMENTS

A. No provision has been made in respect of Gratuity payable to employees. The present liability for future payments of Gratuity is unascertained.

B. Trade Receivables, Loans & Advances (Dr/Cr.), Trade Payables, Advances and Deposits (Dr./Cr.) are taken as per balances appearing in the books of accounts of the Company, as conformation thereof are still awaited.

C. In the opinion of the Board of Directors, the realizable value of Non current Assets (Other than Fixed assets not meant for resale) and Current Assets in the ordinary course of business would not be less than the amount at which they are appearing in the Balance Sheet and the provision for all known liabilities is adequate and not in excess of the amount at which they are stated in the Balance Sheet.

D. Earnings per share

Basic earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders (after deducting attributable taxes) by the weighted average number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share, the net profit/ loss for the year attributable to equity shareholders and the weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares.

E. Cash Flow Statement

The cash flow statement is prepared by the indirect method setout in the accounting standard 3 in cashflow statement. Cash and cash equivalents for the purpose of cash flow statement comprise cash at bank and cash in hand .

For the purpose of calculating diluted earnings per share, the net profit/ loss for the year attributable to equity shareholders and the weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares.

F. According to the information provided to us, there were no dues to suppliers under the Micro, Small and Medium Enterprises Development Act, 2006.

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Mar 31, 2013

A. The financial statements are prepared under historical cost convention and in accordance with generally accepted accounting principles (except otherwise referred elsewhere in these notes) and materially comply with the mandatory accounting standards specified in Companies (Accounting Standards) Rules,2006 and the Guidance Notes issued by The Institute ofprinciples (except otherwise referred elsewhere in these notes) and materially comply with the mandatory accounting Chartered Accountants of India and the applicable provisions of the Companies Act, 1956.

B. Generally all items of Income and Expenditure having material effect on profitability are recognized on accrual basis.

C. Preliminary expenses are being amortized over a period of five years commencing from the current financial year in which commercial activities were commenced.

D. Investments are stated at cost. Fall, if any, in value of unquoted Investments could not be ascertained due to non-availability of their Balance Sheet.

E. Quoted Shares are stated at cost.

Unquoted Shares are stated at cost.

F. REVENUE RECOGNITION

a) Income is reconised as per the terms of contract with customers when the services are rendered.

G. EXPENDITURE RECOGNITION

a) All the expenses are accounted for on accrual basis

H. TAXATION

a) Tax expense comprises of current Current income tax is measured at the amount expected to be paid to the tax authorities in accordance with the Income Tax Act 1961.

NOTE: 21 OTHER NOTES TO FINANCIAL STATEMENTS

A. No provision has been made in respect of Gratuity payable to employees. The present liability for future payments of Gratuity is unascertained.

B. Trade Receivables, Loans & Advances (Dr/Cr.), Trade Payables, Advances and Deposits (Dr./Cr.) are taken as per balances appearing in the books of accounts of the Company, as conformation thereof are still awaited.

C. In the opinion of the Board of Directors, the realizable value of Non current Assets (Other than Fixed assets not meant for resale) and Current Assets in the ordinary course of business would not be less than the amount at which they are appearing in the Balance Sheet and the provision for all known liabilities is adequate and not in excess of the amount at which they are stated in the Balance Sheet.

D. Earnings per share

Basic earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders (after deducting attributable taxes) by the weighted average number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share, the net profit/ loss for the year attributable to equity shareholders and the weighted average number of shares outstanding during the vear are adjusted for the effects of all dilutive potential equity shares.

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E. Cash Flow Statement

The cash flow statement is prepared by the indirect method setout in the accounting standard 3 in cashflow statement. Cash and cash equivalents for the purpose of cash flow statement comprise cash at bank and cash in hand .

For the purpose of calculating diluted earnings per share, the net profit/ loss for the year attributable to equity shareholders and the weighted average number of shares outstanding during the vear are adjusted for the effects of all dilutive potential equity shares.

F. According to the information provided to us, there were no dues to suppliers under the Micro, Small and Medium Enterprises Development Act, 2006.

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Mar 31, 2012

A. The financial statements are prepared under historical cost convention and in accordance with generally accepted accounting principles (except otherwise referred elsewhere in these notes) and materially comply with the mandatory accounting standards specified in Companies (Accounting Standards) Rules,2006 and the Guidance Notes issued by The Institute of principles (except otherwise referred elsewhere in these notes) and materially comply with the mandatory accounting Chartered Accountants of India

B. Genera IV all tams of Income and Expenditure having material effect on profitability are recognized on accrual basis.

C. Preliminary expenses are being amortized over a period of five years commencing from the current financial year in which

D. Investments are stated at cost. Fall, if any, in value of unquoted Investments could not be ascertained due to non-availability of their

Unquoted shares are valued "At Cost" and not at "Lower of cost or fair value/Breakup Value" as prescribed under AS-13. a) Income is recognized as per the terms of contract with customers when the services are rendered.

a) Tax expense comprises of current Current income tax is measured at the amount expected to be paid to the tax authorities

A. No provision has been made in respect of Gratuity payable to employees. The present liability for future payments of Gratuity is

B. Trade Receivables, Loans & Advances (Dr/Cr.), Trade Payables, Advances and Deposits (Dr./Cr.) are taken as per balances appearing in

C. In the opinion of the Board of Directors, the realizable value of Noncurrent Assets (Other than Fixed assets not meant for resale) and Current Assets in the ordinary course of business would not be less than the amount at which they are appearing in the Balance Sheet and the provision for all known liabilities is adequate and not in excess of the amount at which they are stated in the Balance Sheet

Basic earnings per share are calculated by dividing the net profit or loss for the year attributable to equity shareholders (after deducting attributable taxes) by the weighted average number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share, the net profit/ loss for the year attributable to equity shareholders and the weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares.

E. According to the information provided to us, there were no dues to suppliers under the Micro, Small and Medium Enterprises

F. Previous Year figures have been re-grouped/re-casted and/or re-arranged wherever found necessary.

G. Till the year ended 31st March 2011, the company was using pre-revised Schedule VI to the Companies Act 1956, for preparation and presentation of its financial statements. During the year ended 31st March 2012, the revised Schedule VI notified under the Companies Act 1956, has become applicable to the Company. The Company has reclassified previous year''s figures to conform to this year''s classification. It significantly impacts presentation and disclosures made in the financial statements, particularly

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Mar 31, 2011

1 Basis of Accounting :

The financial statements are prepared under the historical cost convention and comply with the mandatory accounting standards and statements issued by The Institute of Chartered Accountants of India and The Companies Act, 1956. All income and expenditure having a material bearing on the financial statements are recognised on accrual basis.

2 Fixed Assets:

Fixed Assets are valued at Cost Less Depreciation

3 Depreciation:

Depreciation on Fixed Assets is provided at Straight Line Method in Accordance with Schedule XVI to the Companies Act, 1956 but restricted to the period of use during the year.

4 Investments

Investments are stated at cost.

5 Inventories:

Inventories are valued at cost. 603 500

6 Miscellaneous Expenditure :

Public Issue Expenses & Share Issue Expenses are being proportionately written off over a period of Ten Years

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Mar 31, 2010

1 Basis of Accounting :

The financial statements are prepared under the historical cost convention and comply with the mandatory accounting standards and statements issued by The Institute of Chartered Accountants of India and The Companies Act, 1956. All income and expenditure having a material bearing on the financial statements are recognised on accrual basis.

2 Fixed Assets:

Fixed Assets are valued at Cost Less Depredation

3 Depreciation:

Depreciation on Fixed Assets is provided at Straight Line Method in Accordance with Schedule XVI to the Companies Act, 1956 but restricted to the period of use during the year.

4 Investments: Investments are stated at cost

5 Inventories:

Inventories are valued at cost. 10,335,000

6 Miscellaneous Expenditure:

Public Issue Expenses & Share Issue Expenses are being proportionately written off over a period of Ten Years

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Mar 31, 2009

BASIS OF PREPARATION OF FINANCIAL STATEMENT:

The financial statements are prepared under the historical cost convention method .All income and Expenditure having a material bearing in the financial statement are recognized on accrual basis. The financial statements have been prepared , in all material respects with applicable accounting principles in India, the accounting Standard issued by the institute of Chartered Accountants of India and the relevant provisions of the Companies Act, 1956 of India

- FIXED ASSETS :

Fixed assets are stated at cost and include incidental and / or installation expenses incurred in putting the asset DEPRECIATION :

Deprivation on Fixed assets is provided on Straight Line Method in the manner laid down in schedule XIV to the Companies Act,1956. Dereciauon on additions to assets during the year is provided on the proportionate basis

INVESTMENTS:

Investments are stated at cost.

INVENTORIES :

Inventories are valued at cost.

MISCELLANEOUS EXPENDITURE :

Preliminary & Share issue expenses are written off over a period of 10 years in equal installments

FOREIGN CURRENCY TRANSACTIONS :

Transaction in foreign currency are recorded at the rate prevailing on the date of receipt of money