Accounting Policies of Computer Point Ltd. Company

Mar 31, 2024

1. Significant Accounting Policies

A. Basis of Preparation of Financial Statements

These financial statements are prepared in accordance with Indian Accounting Standards (Ind
AS], the provisions of the Companies Act, 2013 (“the Companies Act”), as applicable and
guidelines issued by the Securities and Exchange Board of India (“SEBI”]. The Ind AS are
prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting
Standards] Rules, 2015 and Companies (Indian Accounting Standards] Amendment Rules,
2016.

The accounting policies have been applied consistently to all periods presented in these
financial statements.

B. Basis of Measurement

These financial statements have been prepared on a historical cost convention and on an
accrual basis, except for certain assets and liabilities which have been measured at fair value as
per Ind AS.

The financial statements are presented in Indian Rupees (INR) and all values are rounded to
the nearest Lakhs.

C. Use of Estimates

The preparation of financial statements in conformity with Ind AS requires management to
make estimates, judgments'' and assumptions (including revisions, if any). These estimates,
judgments and assumptions affect the application of accounting policies and reported amounts
of assets and liabilities, the disclosure of contingent assets and liabilities at the date of financial
statements and the reported amounts of revenue and expenses during the period.

Appropriate changes in the estimates are made as management becomes aware of changes in
circumstances. Changes in the estimates are reflected in the financial statements in the period
in which changes are made.

D. Revenue Recognition

Revenue is recognized by the company when the company satisfies a performance obligation
by transferring a promised good or service to its customers. Asset/goods/services are
considered to be transferred when the customer obtains control of those asset/goods/services.

Revenue comprises the fair value of the consideration received or receivable for the sale of
goods and services in the ordinary course of the Company''s activities. Revenue is shown net of
GST, returns, rebates and discounts.

Revenue is recognized when the significant risks and rewards of ownership of the products
have passed to the buyer, which is considered to be upon delivery under the contractual terms,
and when the amount of revenue can be measured reliably.

E. Property, Plant and Equipment

Property, Plant and Equipment are stated at cost net of GST, if any and subsequently at cost less
depreciation and impairment losses if any.

Depreciation on all assets is provided on the “Written Down Value Method” at the rates and in
the manner prescribed under 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 de¬
recognition 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 recognized in the Statement of
Profit and Loss when the asset is de-recognized.

Individual low-cost assets (acquired for Rs. 5,000/- or less) are depreciated at 100 % in the
year of acquisition/ purchase.

The residual values are not more than 5% of the original cost of the asset.

The Management estimates the useful lives for fixed assets as follows:

i) Computer - 3 Years

ii) Furnitures & Fixtures - 10 Years

iii) Vehicle - 10 Years

F. Impairment

As at the end of each Balance Sheet date, the carrying amount of assets is assessed as to whether
there is any indication of impairment. If the estimated recoverable amount is found less than
its carrying amount, the impairment loss is recognized and assets are written down to their
recoverable amount.

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Mar 31, 2015

1. Basis of Preparation:

The financial statements are prepared under the historical cost convention and the requirements of the Companies Act, 1956.

2. Use of Estimates:

The preparation of financial statements requires the management of the company to make estimates and assumption that affect the reported balances of assets and liabilities and disclosures relating to the contingent liabilities as at the date of the financial statements and reported amount of incomes and expenses during the year.

3. Fixed Assets:

Fixed Assets are stated at Cost, less accumulated depreciation. Cost includes expenditure incurred in the acquisition and construction / installation and other related expenses.

4. Depreciation:

Depreciation is provided under Written down Value method and the rates and in the manner specified under Schedule II of the Companies Act, 2013.

5. Investments:

There was no any Investments in the Company during the year.

6. Retirement Benefits:

There being no employee of permanent nature serving continuously for specified period for entitlement to Retirement benefits under the statutory regulations no provisions therefore was made in the accounts. The terms of employment does not permit for carry forward and/ or encashment of leave and hence no provision for leave encashment was made in the Accounts.

7. Revenue Recognition:

Revenue form sales are recognized upon delivery. This is when title passes to the customer. Items of Income and Expenditure are recognised on accrual and prudent basis.

8. Taxation:

Provision for Taxation is made on the basis of the taxable profits computed for the current accounting period (reporting period) in accordance with the Income Tax Act, 1961.

Deferred Tax expenses or benefit is recognized on timing difference being the difference between books accounting depreciation on fixed assets as per companies Act'1956 and taxable depreciation as per Income Tax Act'1961 that originated in one period and are capable of reversal in one or more subsequent period. Deferred tax assets and liabilities are measured using the tax rates and tax law that have been enacted or substantively enacted by the balance sheet date.

Minimum Alternative Tax (MAT) credit asset is recognized in the Balance Sheet where it is likely that it will be adjusted against the discharge of tax liability in future under Indian Income Tax Act, 1961.

9. Inventories

Inventories are carried at lower of cost and net realizable value. Cost is determined on a weighted average basis.

10. Contingent Liabilities:

Contingent Liabilities are not provided but disclosed by way of notes under Notes to the Accounts.

11. Inventory Valuation

Inventories are carried at lower of cost and net realizable value. Cost is determined on a weighted average basis. Work-in-progress is carried at lower of cost or net realisable value. Finished goods are carried at lower of cost and net realisable value.

12. Earning per Share:

Earning per share is calculated by dividing the net profit or loss after tax for the period attributable to equity shareholders, by the weighted average number of equity shares outstanding during the period.

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

13. General:

Accounting Policies not specially referred to are consistent with the generally accepted accounting practices.

3. There is no opening & closing stock in the Company during the year. So no question of verification & valuation of the stock.

4. The Company has not provided gratuity on the basis of actuarial valuation as prescribed under the accounting standard and the guideline framed by the Institute of Chartered Accountants since in the opinion of the management no employee has not completed five years of services and/or qualified to receive.

5. Particulars in respect of goods traded as per information required by Part II of Schedule VI have been furnished hereunder: -

In case of other traded items, considering the nature, scale and size of items it is not possible for us to determine the quantitative details for the same, whereas amount is added in the columns of Value shown in the above chart.

6. Income Tax has been provided according to tax liabilities determined as per the financial statements prepared as at 31st March, 2015.

7. No creditor of the Company has informed the company of their status being SSI Units.

8. There are no Micro, Small and Medium Enterprise to whom the Company owes dues which are outstanding for more than 45 days at the Balance Sheet date.

9. The management has certified that same as above there are no other matter or claims involving the company and for which liabilities may arise at present or in future and/or which may otherwise require any disclosure on the face of the accounts and/or in auditors report etc.

10. As per Accounting Standard 17, The Company operates solely in the Information Technology Solutions segment & hence no separate information for segment wise disclosure is required.

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Mar 31, 2014

1. Basis of Preparation:

The financial statements are prepared under the historical cost convention and the requirements of the Companies Act, 1956.

2. Use of Estimates:

The preparation of financial statements requires the management of the company to make estimates and assumption that affect the reported balances of assets and liabilities and disclosures relating to the contingent liabilities as at the date of the financial statements and reported amount of incomes and expenses during the year.

3. Fixed Assets:

Fixed Assets are stated at Cost, less accumulated depreciation. Cost includes expenditure incurred in the acquisition and construction / installation and other related expenses.

4. Depreciation:

Depreciation is provided under Written down Value method and the rates and in the manner specified under Schedule XIV of the Companies Act, 1956.

5. Investments:

Investments, being long-term investments, in shares are unquoted and stated at cost, unless there is other than temporary decline in the value thereof.

6. Retirement Benefits:

There being no employee of permanent nature serving continuously for specified period for entitlement to Retirement benefits under the statutory regulations no provisions therefore was made in the accounts. The terms of employment does not permit for carry forward and/or encashment of leave and hence no provision for leave encashment was made in the Accounts.

7. Revenue Recognition:

a. Education & Training Income has been recognized at the time of the enrollment for courses and training programs.

b. Revenue form sales are recognized upon delivery. This is when title passes to the customer.

Items of Income and Expenditure are recognised on accrual and prudent basis.

8. Taxation:

Provision for Taxation (including Fringe Benefit Tax) is made on the basis of the taxable profits computed for the current accounting period (reporting period) in accordance with the Income Tax Act, 1961.

Deferred Tax expenses or benefit is recognized on timing difference being the difference between books accounting depreciation on fixed assets as per companies Act''1956 and taxable depreciation as per Income Tax Act''1961 that originated in one period and are capable of reversal in one or more subsequent period. Deferred tax assets and liabilities are measured using the tax rates and tax law that have been enacted or substantively enacted by the balance sheet date.

Minimum Alternative Tax (MAT) credit asset is recognized in the Balance Sheet where it is likely that it will be adjusted against the discharge of tax liability in future under Indian Income Tax Act, 1961.

9. Inventories

Inventories are carried at lower of cost and net realizable value. Cost is determined on a weighted average basis.

10. Contingent Liabilities:

Contingent Liabilities are not provided but disclosed by way of notes under Notes to the Accounts.

11. Inventory Valuation

Inventories are carried at lower of cost and net realizable value. Cost is determined on a weighted average basis. Work-in-progress is carried at lower of cost or net realisable value. Finished goods are carried at lower of cost and net realisable value.

12. Earning per Share:

Earning per share is calculated by dividing the net profit or loss after tax for the period attributable to equity shareholders, by the weighted average number of equity shares outstanding during the period.

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

13. General:

Accounting Policies not specially referred to are consistent with the generally accepted accounting practices.

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Mar 31, 2012

1. Basis of Preparation :

The financial statements are prepared under the historical cost convention and the requirements of the Companies Act, 1956.

2. Use of Estimates :

The preparation of financial statements requires the management of the company to make estimates and assumption that affect the reported balances of assets and liabilities and disclosures relating to the contingent liabilities as at the date of the financial statements and reported amount of incomes and expenses during the year.

3. Fixed Assets:

Fixed Assets are stated at Cost, less accumulated depreciation. Cost includes expenditure incurred in the acquisition and construction I installation and other related expenses. Old and absolute outdated computers sold during the year. .

4. Depreciation :

Depreciation is provided under Written down Value method and the rates and in the manner specified under Schedule XIV of the Companies Act, 1956.

5. investments :

Investments, being long-term investments, in shares are unquoted and stated at cost, unless there is other than temporary decline in the value thereof.

6. Retirement Benefits :

There being no employee of permanent nature serving continuously for specified period for entitlement to Retirement benefits under the statutory regulations no provisions therefore was made in the accounts. The terms of employment does not permit for carry forward and/or encashment of leave and hence no provision for leave encashment was made in the Accounts.

7. Revenue Recognition :

a. Education & Training Income has been recognized at the time of the enrollment for courses and training programs.

b. Revenue form sales are recognized upon delivery. This is when title passes to the customer.

Items of Income and Expenditure are recognised on accrual and prudent basis.

8. Taxation :

Provision for Taxation (including Fringe Benefit Tax) is made on the basis of the taxable profits computed for the current accounting period (reporting period) in accordance with the Income Tax Act, 1961. Deferred Tax expenses or benefit is recognized on timing difference being the difference between books accounting depreciation on fixed assets as per companies Act''1956 and taxable depreciation as per Income Tax Act''1961 that originated in one period and are capable of reversal in one or more subsequent period. Deferred tax assets and liabilities are measured using the tax rates and tax law that have been enacted or substantively enacted by the balance sheet date.

Minimum Alternative Tax (MAT) credit asset is recognized in the Balance Sheet where it is likely that it will be adjusted against the discharge of tax liability in future under Indian Income Tax Act, 1961.

9. Inventories :

Inventories are carried at lower of cost and net realizable value. Cost is determined on a weighted average basis.

10. Contingent Liabilities :

Contingent Liabilities are not provided but disclosed by way of notes under Notes to the Accounts.

11. Inventory Valuation :

Inventories are carried at lower of cost and net realizable value. Cost is determined on a weighted average basis. Work-in-progress is carried at lower of cost or net realisable value. Finished goods are carried at lower of cost and net realisable value.

12. Earning per Share :

Earning per share is calculated by dividing the net profit or loss after tax for the period attributable to equity shareholders, by the weighted average number of equity shares outstanding during the period. For the purpose of calculating diluted earnings per share, the net profit or losses for the period attributable to equity shareholders and weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential equity shares.

13. General :

Accounting Policies not specially referred to are consistent with the generally accepted accounting practices.

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Mar 31, 2010

1. Basis of Preparation :

The financial statements are prepared under the historical cost convention and the requirements of the Companies Act, 1956.

2. Use of Estimates :

The preparation of financial statements requires the management of the company to make estimates and assumption that affect the reported balances of assets and liabilities and disclosures relating to the contingent liabilities as at the date of the financial statements and reported amount of incomes and expenses during the year.

3. Fixed Assets :

Fixed Assets are stated at Cost, less accumulated depreciation. Cost includes expenditure incurred in the acquisition and construction / installation and other related expenses.

4. Depreciation :

Depreciation is provided underwritten down Value method and the rates and in the manner specified under Schedule XIV of the Companies Act, 1956.

5. Investments :

Investments, being long-term investments, in shares are unquoted and stated at cost, unless there is other than temporary decline in the value thereof.

6. Retirement Benefits :

There being no employee of permanent nature serving continuously for specified period for entitlement to Retirement benefits under the statutory regulations no provisions therefore was made in the accounts. The terms of employment does not permit for carry forward and/or encashment of leave and hence no provision for leave encashment was made in the Accounts.

7. Revenue Recognition :

a. Education & Training Income has been recognized at the time of the enrollment for courses and training programs.

b. Revenue form sales are recognized upon delivery. This is when title passes to the customer.

c. Items of Income and Expenditure are recognised on accrual and prudent basis.

8. Taxation :

Provision for Taxation (including Fringe Benefit Tax) is made on the basis of the taxable profits computed for the current accounting period (reporting period) in accordance with the Income Tax Act, 1961.

Deferred Tax expenses or benefit is recognized on timing difference being the difference between books accounting depreciation on fixed assets as per companies Act1956 and taxable depreciation as per Income TaxAct1961 that originated in one period and are capable of reversal in one or more subsequent period. Deferred tax assets and liabilities are measured using the tax rates and tax law that have been enacted or substantively enacted by the balance sheet date.

Minimum Alternative Tax (MAT) credit asset is recognized in the Balance Sheet where it is likely that it will be adjusted against the discharge of tax liability in future under Indian Income Tax Act, 1961.

9. Inventories :

Inventories are carried at lower of cost and net realizable value. Cost is determined on a weighted average basis.

10. Contingent Liabilities :

Contingent Liabilities are not provided but disclosed by way of notes under Notes to the Accounts.

11. Inventory Valuation :

Inventories are carried at lower of cost and net realizable value. Cost is determined on a weighted average oasis. Work-in-progress is carried at lower of cost or net realisable value. Finished goods are carried at lower of cost and net realisable value.

12. Earning per Share :

Earning per share is calculated by dividing the net profit or loss after tax for the period attributable to equity shareholders, by the weighted average number of equity shares outstanding during the period. For the purpose of calculating diluted earnings per share, the net profit or losses for the period attributable to equity shareholders and weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential equity shares.

13. General :

Accounting Policies not specially referred to are consistent with the generally accepted accounting practices.