Accounting Policies of Jointeca Education Solutions Ltd. Company

Mar 31, 2024

These financial statements are prepared in accordance with Indian Generally Accepted Accounting Principles (GAAP)
undei the historical cost convention on the accrual. GAAP comprises mandatory accounting standards as prescribed
under Section 133 of the Companies Act, 2013 (‘the Act*) read with Rule 7 of the Companies (Accounts) Rules, 2014,
the provisions of the Act (to the extent notified) and guidelines issued by the Securities and Exchange Board of India
(SEBI). Accounting policies have been consistently applied except where a newly issued accounting standard is
initially adopted or a revision to an existing accounting standard requires a change in the accounting policy hitherto
in use.

1.2 Use of Estimates

The preparation of financial statements requires the management to make estimates and assumptions considered
in the reported amounts of assets and liabilities including contingent liabilities) as on the date of the financial

* statements and the reported income and expenses during the reporting period. The estimates and assumptions used
in the financial statements are based upon the Management''s evaluation of the relevant facts and circumstances as
on the date of financial statements. Management believes that the estimates used in the preparation of the financial
statements are prudent and reasonable. Future results may vary from these estimates.

1.3 Cash Flow statement

Cash hows are reportefl using indirect method, whereby profit or (loss) before extraordinary items and tax is
adjusted for the effects of transactions of noncash nature and any deferrals or accruals of past or future cash receipts
or payments. The cash flows from operating, investing and financing activities of the Company are segregated based
on the available information.

1.4 Promotor''s shareholding

There are no changes in Promoters shareholding either by way of fresh capital raise or by sale of any share under
promoter''s category.

1.5 Title deeds of immovable property

There are no immovable properties (other than properties where the Company is the lessee of and the lease
agreements are duly executed In favour of the lessee) whose deeds are not held in the name of the Company,

* 1.6 Investment in property

During the year, there is no investment in properties.

1.7 Investment in crypto currency or Virtual currency

The company has not traded or invested in crypto currency or Virtual currency during the year.

1.8 revalued its property

The Company has not revalued its Property, Plant and Equipment & Intangible assets during the year

1.9 revalued its property

The Company has not revalued its Property. Plant and Equipment & intangible assets during the year.

1.10 subsidiary companies

The Company has no subsidiary companies The Company is in compliance with the number of layers as prescribed
under clause (87) of section 2 of the Companies Act, 2013 read with the Companies (Restriction on Number of layers)
Rules. 2017

l.llUnlawful and risky transaction • —oWv

Also, the Company has no transaction with Companies which are stuck off under section 248 of the Companies
Act,2013 or under section 530 of Companies Act,1956.

1.12 Bcnami Properties

No proceedings have been initiated or pending against Company for holding any Benami Property under Prohibitions
of Benami Transactions Act.1988 (Earlier titled as Benami transactions (Prohibitions) Act,1988.

1.13Willful defaulter

I he Company Is not declared a willful defaulter by any Bank or Financial Institution or any other lender.

%

1.14 Pending Charges at ROC

No charges of satisfaction are pending for registration with the Registrar of Companies (ROC).

1.15 Advances

During the year the company has not advanced or loaned or invested funds (either borrowed funds or share
premium or any other sources or kind of funds other than business advances) to any other person or entity including
foreign entities (intermediaries) with the understanding (whether recorded in writing or otherwise) that the
intermediary shall (i) directly or indirectly lend or invest in other person or entities identified in any manner
whatsoever by or on behalf of company (ultimate beneficiaries) or (ii) provide any guarantee, security or the like to
or behalf of the ultimate beneficiaries.

No Advances and transactions made to Director / KMP / related parties except provided below as KMP/ Related
parties’transactions.

1.16 Loans

The Company has not received any fund from any persons)¹ or entity(ies) including foreign entities (funding party)
with the understanding (whether recorded In writing or otherwise) that the Company shall (i) directly or indirectly
% lender invest in any manner whatsoever by or on behalf of the funding party (ultimate beneficiaries) or (ii) provide

any guarantee, security or the to or behalf of the (ultimate beneficiaries) or (III) provide any guarantee, security or
the like to or on behalf of the ultimate beneficiaries.

The Company had taken No Loans from its Directors other than mentioned in Notes of account number 2.4.

All kind of loans payable to Directors merged in common individual head.

1.17 Corporate Social Responsibility

Provisions of section 135 of the Companies Act 2013 regarding Corporate Social Responsibility is not applicable on
the Company.

1.18 Property, plant and equipment8i Intangible Assets depreciation:

Property, plant and equipments intangible assets are stated at acquisition cost less accumulated depreciation. The
cost of fixed assets comprises its purchase price including duties and other non- refundable taxes or levies and any
directly, attributable cost of bringing the asset to the working condition for its intended use.

Depreciation on Property, plant and equipments intangible''is provided based on the useful life of the asset in the
manner prescribed In Schedule II to the Companies Act, 2013.

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Mar 31, 2013

(a) AS 1 Disclosure of accounting policies: The disclosure of accounting policies is made in respect of the reporting entity. The accounts are maintained on accrual basis as a going concern.

(b) AS 2 Valuation of Inventories: Inventories are valued in accordance with the method of valuation prescribed by the Companies (Accounting Standards) Rules, 2006 at weighted average cost or net realizable value whichever is less.

(c) AS 3 Cash Flow Statements: The cash flow statement is prepared under indirect method and the same is annexed.

(d) AS 4 Contingencies and events occurring after balance sheet date: There have been no contingent events that have occurred after the balance sheet date and hence these are not applicable to the enterprise.

(e) AS 5 Net profit or loss for the period, Prior period items and Changes in accounting policies

I. Prior period items: There are no prior period items during the year and hence these are not applicable.

II. Changes in accounting policies: There have not been any changes in accounting policies during the current year.

(f) AS 6 Depreciation Accounting: Depreciation has been provided under the Written down value method at the rates prescribed under Schedule XIV of the Companies Act, 1956.

In respect of assets added / assets sold during the year, pro-rata depreciation has been provided at the rates prescribed under Schedule XIV.

(g) AS 9 Revenue Recognition: The income of the Company is derived from sale of Software. Sale of goods is recognized on dispatch of goods to dealers and consumers. Amount recognized as sale is exclusive of Sales tax/ VAT and is net of sales returns. No central excise duty is applicable at present for the products dealt with by the Company.

Interest income is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable.

(h) AS 10 Accounting for Fixed Assets: All the fixed assets are valued at cost including expenditure incurred in bringing them to usable condition less depreciation.

(i) AS 11 Accounting for effect of changes in foreign exchange rates: Not applicable as there was no foreign exchange transactions during the year.

(j) AS 12 Accounting for government grants: Not applicable, the Company has not received any grant.

(k) AS 13 Accounting for Investments: Not applicable, there was no investment.

(1) AS 14 Accounting for Amalgamations: Not applicable, there was no amalgamation during the year.

(m) AS 15 Accounting for Employee benefits

a) From the current year provident fund schemes and the Employees state insurance schemes are applicable to the employees, company made proper provision for the same and accounted in the books of accounts.

b) Gratuity and Encashment of leave benefits to employees are accounted for on payment basis as none of the employees are eligible for the same at present.

(n) AS 16 Borrowing Costs: The borrowing costs have been treated in accordance with Accounting Standard on borrowing costs issued by the Companies (Accounting Standard) Rules, 2006.

(o) AS 17 Segment Reporting: The Company operates in only one segment, hence the Accounting Standard on segment reporting is not applicable.

(p) AS 18 Related party disclosures: Disclosure in accordance with Accounting Standard-18 Related Party transaction during the year:

During the year no related party transactions are entered into. (Previous Year: NIL)

(q) AS 20 Earnings Per Share

In the financial year company calculated Earnings per share and Diluted Earnings per share in accordance with Accounting Standard on borrowing costs issued by the Companies (Accounting Standard) Rules, 2006

(r) AS 22 Accounting for Taxes on Income

a. Provision for Income Tax is considered as per the provisions contained in the Income Tax Act, 1961 and the Rules made there under and at the rates applicable for the current financial year.

b. Provision for Deferred Tax is considered as per the provisions contained in the Income Tax Act, 1961 and the Rules made there under and at the rates applicable for the current financial year.

(s) AS 26 Intangible Assets

Cost incurred on preparation of the software is capitalized and amortized on a straight-line basis over a period of ten years, being the estimated useful life.

Goodwill arising from acquisition of business is amortized on a straight-line basis over a period of ten years, being the estimated useful life.

(t) AS 29 Provisions, Contingent Liabilities and Contingent Assets

There was no Contingent Liabilities during the year.