Accounting Policies of Citurgia Biochemicals Ltd. Company

Mar 31, 2024

2. Significant accounting policies ;

2.1 The financial statements as at and for the year ended March 31, 2024 have been prepared in
accordance with Indian Accounting Standards ("Ind AS") notified under the Companies (Indian
Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards)
Amendment Rules, 2016.

2.2 Basis of measurement

The financial statements have been prepared on a historical cost convention and on an accrual
basis, except for certain items that are measured at fair value as required by relevant Ind AS:

(i) Financial assets and financial liabilities measured at fair value;

(ii) Defined benefit and other long-term employee benefits, if any.

(iii)

2.3 Functional Currency and Foreign currency

No Foreign currency transaction has taken place during the relevant period.

2.4 Use of Estimates and Judgments:

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 assumptions 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.

2.5 Revenue recognition

2.5.1 Interest income from a financial asset is recognised when it is probable that the
economic benefits will flow to the company and the amount of income can be
measured reliably. Interest income is accured on a time basis, by reference to the
principle outstanding and the effective interest rate applicable, which is the rate
exactly discounts the estimated future cash receipts through expected life of the
financial asset to that asset''s net carrying amount on initial recognition.

2.5.2 Commission Income is recognized when it has accrued.

2.5 Leases

No Operating & Finance lease has taken by the company

2.6 Cost recognition

Costs and expenses are recognised when incurred and have been classified according to their
primary nature.

2.7 Income Tax

Tax expenses comprises current tax (i.e. amount of tax for the period determined in
accordance with the income tax-law) and deferred tax charge or credit (reflecting the tax
effects of timing deference between accounting income and taxable income for the year).
Current tax is measured at the amount expected to be paid to the taxation authorities, using
applicable tax rates and tax laws. Deferred income tax is recognized using the balance sheet
approach.

Deferred income tax assets and liabilities are recognized for deductible and taxable temporary
differences arising between the tax base of assets and liabilities and their carrying amount,
except when the deferred income tax arises from the initial recognition of goodwill or an asset
or liability in a transaction that is not a business combination and affects neither accounting
nor taxable profit or loss at the time of the transaction.

Deferred income tax asset are recognized to the extent that it is probable that taxable profit
will be available against which the deductible temporary differences and the carry forward of
unused tax credits and unused tax losses can be utilized. The carrying amount of deferred
income tax assets is reviewed at each reporting date and reduced to the extent that it is no
longer probable that sufficient taxable profit will be available to allow all or part of the deferred
income tax asset to be utilised.

Deferred tax assets and liabilities are measured using substantively enacted tax rates
expected to apply to taxable income in the years in which the temporary differences are
expected to be received or settled.

2.8 Financial Instruments

Financial assets and liabilities are recognised when the Company becomes a party to the
contractual provisions of the instrument. Financial assets and liabilities are initially measured
at fair value. Transaction costs that are directly attributable to the acquisition or issue of
financial assets and financial liabilities (other than financial assets and financial liabilities at
fair value through profit or loss) are added to or deducted from the fair value measured on
initial recognition of financial asset or financial liability.

2.9.1 Cash and cash equivalents: Cash and cash equivalents considers all highly liquid
financial instruments, which are readily convertible into known amounts of cash that
are subject to an insignificant risk of change in value and having original maturities of
three months or less from the date of purchase, to be cash equivalents. Cash and cash
equivalents consist of balances with banks which are unrestricted for withdrawal and
usage.

2.9.2 Financial assets at amortised cost: Financial assets are subsequently measured at
amortised cost if these financial assets are held within a business whose objective is to
hold these assets in order to collect contractual cash flows and the contractual terms
of the financial asset give rise on specified dates to cash flows that are solely
payments of principal and interest on the principal amount outstanding.

2.9.3 Equity Instruments (Share capital): Ordinary shares:- Ordinary shares are
classified as equity. Incremental costs directly attributable to the issuance of new
ordinary shares are recognised as a deduction from equity, net of any tax effect (if
any).

2.9 Property, plant and equipment

Property, plant and equipment are stated at cost, less accumulated depreciation (other than
freehold land) and impairment loss, if any. The cost of tangible assets comprises purchase
price and any cost directly attributable to bringing the assets to its working condition for its
intended use

2.10 Earnings per share

Basic earnings per share are computed by dividing profit or loss attributable to equity
shareholders of BSE Limited by the weighted average number of equity shares outstanding

during the period. The company did not have any potentially dilutive securities in any of the
periods presented.

3. Transition to Ind AS

Transition to Ind AS was carried out from Previous GAAP.

4. Related Party Disclosure

No Related Parties Transaction has taken place during the period.

5. Segment Reporting

6.

Company is working in only one segment hence reporting Segment is not required as per Indian
Accounting Standard 108 "Operating Segments".

For G.P.KESHRI & ASSOCIATES ON BEHALF OF THE BOARD OF DIRECTORS

CHARTERED ACCOUNTANTS CITURGIA BIOCHEMICALS LIMITED

Sd- Sd- Sd-

(GOPAL PRASAD KESHRI) DHARMENDRA KASHI NATH

PARTNER (Director) (Director)

MEMBERSHIP NO. 098476 DIN: 08664816 DIN: 02072952

FRN:017251N

P lace: New Delhi

Date: 22.05.2024

UDIN:24098476BKHJQU7075

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Mar 31, 2014

(a) Income and Expenses are being accounted for an accrual basis.

(b) No Fixed Assets has been purchased by the company during the year.

1. Figures of previous year have been regrouped, re-cast or rearranged to make them comparable with Current year''s figures wherever deemed necessary.

2. Figures in bracket indicate negative figure.

3. FIXED ASSETS AND DEPRECIATIONS

Company has provides depreciation (WDV Based) of Fixed Assets during the year.

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Mar 31, 2013

Not Available

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Mar 31, 2012

Not Available

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Mar 31, 2011

(a) System of Accounting:

The Company adopts the accrual concept in the preparation of its accounts.

(b) Fixed Assets:

Fixed Assets are capitalized at cost inclusive of inward freight, duties, taxes, interest paid till the date of capitalization, front end fees paid to financial institutions and installation expenses.

(c) Investments:

Long term investments are carried at cost less provision for permanent diminution in value of such investments. Current investments are carried at lower of cost and fair value.

(d) Inventories:

(i) Stores & Spare Parts, Raw Materials and Stocks-In-Process -

Stores & Spare Parts and Raw Materials are valued at cost after providing for cost of obsolescence, on Weighted.

Average Basis whereas Stocks-in-Process is valued at cost or equivalent finished goods valuation less packing cost and includes elements of factory overheads.

(ii) Finished goods are valued at lower of cost or net realizable value and includes elements of factory overheads and excise duty.

(e) Foreign Currency Transactions:

There are no foreign currency transactions during the year

(f) Depreciation:

Depreciation on Fixed Assets of the Company is provided at the rates specified in Schedule XTV to the Companies Act, 1956 and the cost of leasehold land which is written off over the period of lease, except on assets of Unit I of Calcium Carbonate Division which is provided on Written Down Value basis, at the rates specified in Schedule XIV to the Companies Act, 1956 and the cost of leasehold land which is written off over the period of lease.

In respect of assets transferred from Jasper Investments Ltd., consequent to its amalgamation with the Company , depreciation has been provided on the Written Down Value basis, at the rates specified in Schedule XIV to the Companies Act, 1956.

Lease income in respect of Assets leased out is disclosed as gross lease rentals accrued during the year (as per agreements) as adjusted for the difference between capita! recovery included in the lease rentals and depreciation provided in the books. The accumulated lease adjustments arising there from is reflected against written down value of such assets.

(h) Deferred Taxation:

The differences that result between the profit offered for income taxes and the profits as per the financial statements are identified and thereafter a deferred tax liability is recorded for timing differences, namely the differences that originate in one accounting period and reverse in another, based on the tax effect of the aggregate amount being considered. The tax effect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted or substantially enacted regulations. Deferred tax assets are recognized only if there is reasonable certainty that they will be realized and are reviewed for the appropriateness of their respective carrying values at each balance sheet date.

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Apr 20, 2010

(a) System of Accounting:

The Company adopts the accrual concept in the preparation of its accounts.

(b) Fixed Assets:

Fixed Assets are capitalised at cost inclusive of inward freight, duties, taxes, interest paid till the date of capitalisation, front end fees paid to financial institutions and installation expenses.

(c) Investments:

Long term investments are carried at cost less provision for permanent diminution in value of such investments. Current investments are carried at lower of cost and fair value.

(d) Inventories:

(I) Stores & Spare Parts, Raw Materials and Stocks-In-Process -

Stores & Spare Parts and Raw Materials are valued at cost after providing for cost of obsolescence, on Weighted Average Basis whereas Stocks-in-Process is valued at cost or equivalent finished goods valuation less packing cost and includes elements of factory overheads.

(B) Finished goods are valued at lower of cost or net realizable value and includes elements of factory overheads and excise duty.

(e) Foreign Currency Transactions:

There are no foreign currency transactions during the year

(f) Depreciation:

Depreciation on Fixed Assets of the Company is provided at the rates specified in Schedule XTV to the Companies Act, 1956 and the cost of leasehold land which is written off over the period of lease, except on assets of Unit I of Calcium Carbonate Division which is provided on Written Down Value basis, at the rates specif ied in Schedule XIV to the Companies Act, 1956 and the cost of leasehold land which is written off over the period of lease.

In respect of assets transferred from Jasper Investments Ltd., consequent to its amalgamation with the Company , depreciation has been provided on the Written Down Value basis, at the rates specified in Schedule XIV to the Companies Act, 1956.

Lease income in respect of Assets leased out is disclosed as gross lease rentals accrued during the year (as per agreements) as adjusted for the difference between capita! recovery included in the lease rentals and depreciation provided in the books. The accumulated lease adjustments arising there from is reflected against written down value of such assets.

(h) Deferred Taxation:

The differences that result between the profit offered for income taxes and the profits as per the financial statements are identified and thereafter a deferred tax liability is recorded for timing differences, namely the differences that originate in one accounting period and reverse in another, based on the tax effect of the aggregate amount being considered. The tax effect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted or substantially enacted regulations. Deferred tax assets are recognised only if there is reasonable certainty that they will be realized and are reviewed for the appropriateness of their respective carrying values at each balance sheet date.