Accounting Policies of Harmony Capital Services Ltd. Company

Mar 31, 2024

2 Material accounting policies

2.1 Statement of Compliance

These standalone financial statements {hereinafter referred to as "financial statements")arepreparedin a_ccordancewiththe Indian Accounting
Standards ("Ind AS") as per the Companies (Indian Accounting Standards) Rules, 2015 notified under Section 133 of Companies Act, 2013 ("the
Act"), amendments thereto and other relevant provisions of the Act and guidelines issued by the Securities and Exchange Board ofIndia ("SEBI"), as
applicable The standalone financial statements were authorised for issue in accordance with a resolution passed at the meeting of the Board of
Directors held on April 29, 2023

2.2 Basis of Preparation of Financial Statement

These standalone financial statements have been prepared on historical cost basis except for certain financial instruments and defined benefit plans
which are measured at fair value or amortized cost at the end of each reporting period. Historical cost is generally based on the fair value of the
consideration given in exchange for goods and services. Fair value is the price that would be received to sell an asset or paid to transfer a liability in.
an orderly transaction between market participants at the measurement date. All assets and liabilities have been classified as current and
non-current as per the Company''s normal operating cycle. Based on the nature of services rendered to customers and time elapsed between
deployment of resources and the realization in cash and cash equivalents of the consideration for such services rendered.

The statement of cash flows have been prepared under indirect method, whereby profit or Joss is adjusted for the effects of transactions of a
non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and items of income or expense associated with
investing or financing cash flows. The cash flows from operating, investing and financing activities of the Company are segregated. The Company
considers all highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in
value to be cash equivalents.

2.3 Functional and Presentation Currency

The standalone financial statements are presented inIndian Rupees, which is the functional currency of the Company and the currency of the company
and the currency of the primary economic environment in which the Company operates. All the figure have been rounded off to the nearest in
Thousand, unless otherwise indicated.

2.4 Use of Estimates and Judgment

The preparation ofInd. AS financial statements in conformity with the Accounting Standards generally accepted inIndia requires management to make
judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and
expenses during the reporting period. Differences between actual results and estimated are recognized in the period in which the results are
materialized.

2.5 Revenue Recognition

Revenue is recognized only when risk and rewards incidental to ownership are transferred to the customer/client it can be reliably measured and it is
reasonable to except ultimate collection.

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Mar 31, 2014

1. Basis of Accounting:-

The Financial statements are prepared under the historical cost convention, on a going concern concept and in compliance with the accounting standard issued by ICAI/ Companies (Accounting Standard), Rules 2006, company follows mercantile system of accounting and recognizes income & expenditure on accrual basis to the extent measurable and where there is certainty of ultimate realization in respect of incomes accounting policies note specifically referred to otherwise, are consistent and in consonance with the generally accepted accounting principles.

2. Use of Estimates:

The preparation of financial statements in conformity with generally accepted accounting principles requires estimates and assumption to be made that effect the reported amount of assets and liabilities on the date of the financial Statements and reported amounts of revenues and expenses during the reporting period differences between actual results and estimated are recognized in the period in which the results are materialized.

3. Recognition of income and expenditure:-

The company follows the accrual basis of accounting except in the following cases, where the same are recorded on the basis of realization or ascertainment of rights and obligations

a. Insurance claims

b. Payment of bonus and leave salary

c. Gratuity

4. Fixed Assets

No fixed Assets.

5. Depreciation:

No fixed assets hence no Depreciation.

6. Stock in trade

Stock in trade of shares is valued at cost.

7. Impairment of fixed Assets

At the end of each year, the company determines whether a provision should be made for impairment loss on fixed assets by considering the indication that an impairment loss may have occurred in accordance with accounting standard "28 on impairment of Assets" issued by the ICAICompanies (Accounting standard), Rules, 2006. Where the recoverable amount of any fixed assets is lower than its carrying amount, a provision for impairment loss on fixed assets is made for the difference.

8. INVESTMENTS

Investments are stated at cost of acquisition.

9. Prior Period Items:

Material amount of Income and expenditure pertaining to prior years are disclosed separately.

10. Contingencies and events occurring after the date of Balance Sheet: - NIL

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Mar 31, 2013

1. Basis of Accounting:-

The Financial statements are prepared under the historical cost convention, on a going concern concept and in compliance with the accounting standard issued by ICAI/ Companies (Accounting Standard), Rules 2006, company follows mercantile system of accounting and recognizes income & expenditure on accrual basis to the extent measurable and where there is certainty of ultimate realization in respect of incomes accounting policies note specifically referred to otherwise, are consistent and in consonance with the generally accepted accounting principles.

2. Use of Estimates:

The preparation of financial statements in conformity with generally accepted accounting principles requires estimates and assumption to be made that effect the reported amount of assets and liabilities on the date of the financial Statements and reported amounts of revenues and expenses during the reporting period differences between actual results and estimated are recognized in the period in which the results are materialized.

3. Recognition of income and expenditure:-

The company follows the accrual basis of accounting except in the following cases, where the same are recorded on the basis of realization or ascertainment of rights and obligations

a. Insurance claims

b. Payment of bonus and leave salary

c. Gratuity

4. Fixed Assets

Fixed Assets are stated at cost of acquisition less accumulated depreciation. The cost of acquisition comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

5. Depreciation:

Industrial Gala is not in use hence Depreciation has not been provided on the same.

6. Stock in trade

Stock in trade of shares is valued at cost.

7. Impairment of fixed Assets

At the end of each year, the company determines whether a provision should be made for impairment loss on fixed assets by considering the indication that an impairment loss may have occurred in accordance with accounting standard "28 on impairment of Assets" issued by the ICAICompanies (Accounting standard), Rules, 2006. Where the recoverable amount of any fixed assets is lower than its carrying amount, a provision for impairment loss on fixed assets is made for the difference.

8. INVESTMENTS

Investments are stated at cost of acquisition.

9. Prior Period Items:

Material amount of Income and expenditure pertaining to prior years are disclosed separately.

10. Contingencies and events occurring after the date of Balance Sheet: - NIL

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Mar 31, 2012

1. Basis of Accounting:-

The Financial statements are prepared under the historical cost convention, on a going concern concept and in compliance with the accounting standard issued by ICAI/ Companies (Accounting Standard), Rules 2006, company follows mercantile system of accounting and recognizes income & expenditure on accrual basis to the extent measurable and where there is certainty of ultimate realization in respect of incomes accounting policies note specifically referred to otherwise, are consistent and in consonance with the generally accepted accounting principles.

3. Use of Estimates:

The preparation of financial statements in conformity with generally accepted accounting principles requires estimates and assumption to be made that effect the reported amount of assets and liabilities on the date of the financial Statements and reported amounts of revenues and expenses during the reporting period differences between actual results and estimated are recognized in the period in which the results are materialized.

4. Recognition of income and expenditure:-

The company follows the accrual basis of accounting except in the following cases, where the same are recorded on the basis of realization or ascertainment of rights and obligations

a. Insurance claims

b. Payment of bonus and leave salary

c. Gratuity

5. Fixed Assets

Fixed Assets are stated at cost of acquisition less accumulated depreciation. The cost of acquisition comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

6. Depreciation:

Industrial Gala is not in use hence Depreciation has not been provided on the same.

7. Stock in trade

Stock in trade of shares is valued at cost.

8. Impairment of fixed Assets

At the end of each year, the company determines whether a provision should be made for impairment loss on fixed assets by considering the indication that an impairment loss may have occurred in accordance with accounting standard "28 on impairment of Assets" issued by the ICAICompanies (Accounting standard), Rules, 2006. Where the recoverable amount of any fixed assets is lower than its carrying amount, a provision for impairment loss on fixed assets is made for the difference.

9. INVESTMENTS

Investments are stated at cost of acquisition.

10. Prior Period Items:

Material amount of Income and expenditure pertaining to prior years are disclosed separately.

11. Contingencies and events occurring after the date of Balance Sheet: - NIL

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Mar 31, 2011

1. Basis of Accounting:-

The Financial statements are prepared under the historical cost convention, on a going concern concept and in compliance with the accounting standard issued by ICAI/ Companies (Accounting Standard), Rules 2006, company follows mercantile system of accounting and recognizes income & expenditure on accrual basis to the extent measurable and where there is certainty of ultimate realization in respect of incomes accounting policies note specifically referred to otherwise, are consistent and in consonance with the generally accepted accounting principles.

2. Use of Estimates:

The preparation of financial statements in conformity with generally accepted accounting principles requires estimates and assumption to be made that effect the reported amount of assets and liabilities on the date of the financial Statements and reported amounts of revenues and expenses during the reporting period differences between actual results and estimated are recognized in the period in which the results are materialized.

3. Recognition of income and expenditure:-

The company follows the accrual basis of accounting except in the following cases, where the same are recorded on the basis of realization or ascertainment of rights and obligations

a. Insurance claims

b. Payment of bonus and leave salary

c. Gratuity

4. Fixed Assets

Fixed Assets are stated at cost of acquisition less accumulated depreciation. The cost of acquisition comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

5. Depreciation:

Industrial Gala is not in use hence Depreciation has not been provided on the same.

6. Stock in trade

Stock in trade of shares is valued at cost.

7. Impairment of fixed Assets

At the end of each year, the company determines whether a provision should be made for impairment loss on fixed assets by considering the indication that an impairment loss may have occurred in accordance with accounting standard "28 on impairment of Assets" issued by the ICAICompanies (Accounting standard), Rules, 2006. Where the recoverable amount of any fixed assets is lower than its carrying amount, a provision for impairment loss on fixed assets is made for the difference.

8. INVESTMENTS

Investments are stated at cost of acquisition.

9. Miscellaneous Expenditure

Preliminary Expenses are amortized in the year they are incurred.

10. Prior Period Items:

Material amount of Income and expenditure pertaining to prior years are disclosed separately.

11. Contingencies and events occurring after the date of Balance Sheet: - NIL